Form of Unit Agreement



EXHIBIT 4(rr) 
 
 
 
 
 
 
 
 
WELLS FARGO & COMPANY,

 
 
[                                     
                               ], 
as Unit Agent and as Collateral Agent, 
and
[                                        
                            ], as Trustee 
and
[                                        
                    ], as Paying Agent 
under the Indenture referred to herein, 
 
 
AND 
 
 
THE HOLDERS FROM TIME TO TIME 
OF THE UNITS DESCRIBED HEREIN 
 
 
UNIT AGREEMENT 
 
 
Dated as of **[                        , 20    ] 
 







TABLE OF CONTENTS 
 
 

	  ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	   	  1

	  SECTION 1.01. Definitions
	   	  1

	
	  ARTICLE 2 UNITS
	   	  9

	  SECTION 2.01. Forms Generally
	   	  9

	  SECTION 2.02. Form of Certificate of Authentication and
Countersignature
	   	  9

	  SECTION 2.03. Amount Unlimited; Issuable in Series
	   	  9

	  SECTION 2.04. Denominations
	   	  11

	  SECTION 2.05. Rights and Obligations Evidenced by the Units
	   	  11

	  SECTION 2.06. Execution, Authentication, Delivery and Dating
	   	  11

	  SECTION 2.07. Temporary Unit Certificates
	   	  11

	  SECTION 2.08. Registration of Transfer and Exchange; Global Units
	   	  12

	  SECTION 2.09. Mutilated, Destroyed, Lost and Stolen Unit Certificates
	   	  14

	  SECTION 2.10. Persons Deemed Owners
	   	  16

	  SECTION 2.11. Cancellation
	   	  16

	  SECTION 2.12. Exchange of Global Units and Definitive Units
	   	  17

	
	  ARTICLE 3 THE PURCHASE CONTRACTS
	   	  18

	  SECTION 3.01. Form and Execution of Purchase Contracts; Temporary Purchase
Contracts
	   	  18

	  SECTION 3.02. Number Unlimited Issuable in Series
	   	  19

	  SECTION 3.03. Countersignature, Execution on Behalf of Holder and Delivery of Purchase
Contracts
	   	  21

	  SECTION 3.04. Further Provisions Relating to Issuance of Purchase
Contracts
	   	  23

	  SECTION 3.05. Purchase of Purchase Contract Property; Optional Acceleration of
Purchase Obligations; Authorization of Agent by Holder; Transferees Bound
	   	  23

	  SECTION 3.06. Payment of Purchase Price
	   	  25

	  SECTION 3.07. Delivery of Purchase Contract Property or Other Amounts
	   	  27

	  SECTION 3.08. Charges and Taxes
	   	  28

	
	  ARTICLE 4 REMEDIES
	   	  28

	  SECTION 4.01. Acceleration of Obligations
	   	  28

	  SECTION 4.02. Unconditional Rights under Purchase Contracts; Limitation on Proceedings
by Holders
	   	  28

	  SECTION 4.03. Restoration of Rights and Remedies
	   	  29

	  SECTION 4.04. Rights and Remedies Cumulative
	   	  29

	  SECTION 4.05. Delay or Omission Not Waiver
	   	  30

	  SECTION 4.06. Waiver of Past Defaults
	   	  30

	  SECTION 4.07. Undertaking for Costs
	   	  30


 

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	  SECTION 4.08. Waiver of Stay or Extension Laws
	   	  31

	  SECTION 4.09. Agent May File Proofs of Claims
	   	  31

	  SECTION 4.10. Suits for Enforcement
	   	  31

	  SECTION 4.11. Control by Holders
	   	  32

	
	  ARTICLE 5 SECURITY INTERESTS AND COLLATERAL AGENT
	   	  32

	  SECTION 5.01. Granting of Security Interests; Rights and Remedies of Collateral Agent;
Perfection
	   	  32

	  SECTION 5.02. Distribution of Principal and Interest; Release of
Collateral
	   	  33

	  SECTION 5.03. Certain Duties and Responsibilities of the Collateral
Agent
	   	  34

	  SECTION 5.04. Knowledge of the Collateral Agent
	   	  35

	  SECTION 5.05. Certain Rights of Collateral Agent
	   	  35

	  SECTION 5.06. Compensation and Reimbursements
	   	  36

	  SECTION 5.07. Corporate Collateral Agent Required Eligibility
	   	  36

	  SECTION 5.08. Resignation and Removal; Appointment of Successor
	   	  37

	  SECTION 5.09. Acceptance of Appointment by Successor
	   	  38

	  SECTION 5.10. Merger, Conversion, Consolidation or Succession to
Business
	   	  39

	  SECTION 5.11. Money Held in Trust
	   	  39

	
	  ARTICLE 6 THE AGENT
	   	  39

	  SECTION 6.01. Certain Duties and Responsibilities
	   	  39

	  SECTION 6.02. Notice of Default
	   	  40

	  SECTION 6.03. Certain Rights of Agent
	   	  40

	  SECTION 6.04. Not Responsible for Recitals or Issuance of Units
	   	  41

	  SECTION 6.05. May Hold Units
	   	  42

	  SECTION 6.06. Money Held in Trust
	   	  42

	  SECTION 6.07. Compensation and Reimbursement
	   	  42

	  SECTION 6.08. Corporate Agent Required: Eligibility
	   	  43

	  SECTION 6.09. Resignation and Removal: Appointment of Successor
	   	  43

	  SECTION 6.10. Acceptance of Appointment by Successor
	   	  44

	  SECTION 6.11. Merger, Conversion, Consolidation or Succession to
Business
	   	  45

	  SECTION 6.12. Appointment of Authenticating Agent
	   	  45

	  SECTION 6.13. Corporation to Furnish Agent Names and Addresses of
Holders
	   	  47

	  SECTION 6.14. Preservation of Information; Communications to Holders
	   	  48

	  SECTION 6.15. No Obligation of Holder
	   	  48

	  SECTION 6.16. Tax Compliance
	   	  49

	
	  ARTICLE 7 SUPPLEMENTAL AGREEMENTS
	   	  50

	  SECTION 7.01. Supplemental Agreements Without Consent of Holders
	   	  50

	  SECTION 7.02. Supplemental Agreements with Consent of Holders
	   	  51

	  SECTION 7.03. Execution of Supplemental Agreements
	   	  51

	  SECTION 7.04. Effect of Supplemental Agreements
	   	  52


 

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	  SECTION 7.05. Reference to Supplemental Agreements
	   	  52

	
	  ARTICLE 8 CONSOLIDATION, MERGER, SALE OR CONVEYANCE
	   	  52

	  SECTION 8.01. Covenant Not to Merge, Consolidate, Sell or Convey Property Except Under
Certain Conditions
	   	  52

	  SECTION 8.02. Rights and Duties of Successor Corporation
	   	  53

	  SECTION 8.03. Opinion of Counsel to Agent
	   	  53

	
	  ARTICLE 9 COVENANTS
	   	  53

	  SECTION 9.01. Performance under Purchase Contracts
	   	  53

	  SECTION 9.02. Maintenance of Office or Agency
	   	  53

	  SECTION 9.03. Money for Payments to Be Held in Trust
	   	  54

	  SECTION 9.04. Statements of Officers of the Corporation as to Default
	   	  55

	
	  ARTICLE 10 REDEMPTIONS
	   	  55

	  SECTION 10.01. Optional Redemption of Purchase Contracts; Redemption Upon Redemption
of Debt Securities
	   	  55

	  SECTION 10.02. Notice of Redemption; Partial Redemptions
	   	  56

	  SECTION 10.03. Payment of Purchase Contracts Called for Redemption
	   	  57

	  SECTION 10.04. Exclusion of Certain Purchase Contracts from Eligibility for Selection
for Redemption
	   	  57

	
	  ARTICLE 11 MISCELLANEOUS PROVISIONS
	   	  58

	  SECTION 11.01. Incorporators, Stockholders, Officers and Directors of the Corporation
Immune from Liability
	   	  58

	  SECTION 11.02. Compliance Certificates and Opinions
	   	  58

	  SECTION 11.03. Form of Documents Delivered to Agent or Collateral
Agent
	   	  59

	  SECTION 11.04. Acts of Holders
	   	  59

	  SECTION 11.05. Notices, Etc.
	   	  60

	  SECTION 11.06. Notices to Holders; Waiver
	   	  60

	  SECTION 11.07. Effect of Headings and Table of Contents
	   	  61

	  SECTION 11.08. Successors and Assigns
	   	  61

	  SECTION 11.09. Separability Clause
	   	  61

	  SECTION 11.10. Benefits of Agreement
	   	  61

	  SECTION 11.11. Governing Law
	   	  61

	  SECTION 11.12. Legal Holidays
	   	  62

	  SECTION 11.13. Counterparts
	   	  62

	  SECTION 11.14. Appointment of Certain Agents
	   	  62

	  SECTION 11.15. Inspection of Agreement
	   	  62


 
 

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UNIT
AGREEMENT, dated as of                     , 20    , by and among WELLS FARGO & COMPANY, a Delaware corporation
(the “Corporation”),                         
            , a              banking corporation
(“                        ”), acting solely as unit agent and collateral agent under this Agreement (in its
capacity as unit agent, the “Agent”, and, in its capacity as collateral agent, the “Collateral Agent”), except to the extent that this Agreement specifically states that the Agent is acting in another capacity,
                            , as trustee under the Indenture described below (the “Trustee”)
and,                          as paying agent under the Indenture, (the “Paying Agent”), and the holders from
time to time of the Units described herein. 
 
WHEREAS, the Corporation has entered into an Indenture dated as of                      with the Trustee (as further
supplemented or amended from time to time, the “Indenture”); 
 
WHEREAS, the Corporation has duly authorized the issuance, from time to time, pursuant to the Indenture of [senior] [subordinated] debt securities (“Debt Securities”); 
 
WHEREAS, the Corporation has duly authorized the issuance,
from time to time, of Purchase Contracts (“Purchase Contracts”) requiring the holder thereof to purchase or sell (i) securities of the Corporation or one of its affiliated or securities of an entity unaffiliated with the Corporation, a
basket of such securities, an index or indices of such securities or any combination of the above, (ii) currencies or (iii) commodities, in each case on terms to be determined at the time of sale; 
 
WHEREAS, the Corporation desires to provide for the issuance
of units (“Units”) consisting of one or more Purchase Contracts, Debt Securities, or any combination thereof; 
 
WHEREAS, the parties hereto wish to secure the performance by the holders of Units consisting of Debt Securities and Purchase Contracts of
their obligations under such Purchase Contracts and the observance and performance of the covenants and agreements contained herein and in such Purchase Contracts; 
 
NOW, THEREFORE, in consideration of the premises and the purchases of the Units by the holders thereof, the
Corporation, the Agent, the Collateral Agent, the Trustee and the Paying Agent mutually covenant and agree as follows: 
 
 
ARTICLE 1 
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 
SECTION 1.01. Definitions. For all purposes of this Agreement, except as otherwise expressly provided or
unless the context otherwise requires: 
 
(i) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
 

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(ii) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles in the United States in effect at the time of any computation; and 
 
(iii) the words “herein”,
“hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision. 
 
“Accelerated Settlement Date” with respect to a Purchase Contract of any series, means any date to
which the Corporation accelerates the obligations of the Holder of the Units of which such Purchase Contract constitutes a part, subject to any limitations as may be specified pursuant to Section 3.02. 
 
“Acceleration Notice”, has the meaning specified in
Section 3.05(b). 
 
“Act”, with respect
to any Holder, has the meaning specified in Section 11.04. 
 
“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition,
“control”, with respect to any specified Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
 
“Agent” means the Person named as the “Agent” in the first paragraph of this Agreement until a successor Agent shall have become such pursuant to the applicable provisions of this
Agreement, and thereafter “Agent” shall mean such successor Person. 
 
“Agreement” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more agreements supplemental hereto entered into pursuant to the
applicable provisions hereof. 
 
“Authenticating Agent” means any Person authorized by the Agent to act on behalf of the Agent to countersign and execute Purchase Contracts. 
 
“Bankruptcy Event” means any of the following events: (i) a court having jurisdiction in the
premises shall enter a decree or order for relief with respect to the Corporation in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of the Corporation or for any substantial part of its property or ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period
of 60 consecutive days; or (ii) the Corporation shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or consent to the entry of an order for relief in an involuntary case under
any such law, or consent to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar 
 

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official) of the Corporation
or for any substantial part of its property, or make any general assignment for the benefit of creditors. 
 
“Board of Directors”, means the board of directors of the Corporation or any other committee duly authorized to act on its
behalf with respect to this Agreement. 
 
“Board Resolution”, means one or more resolutions, certified by the Secretary or an Assistant Secretary of the Corporation to have been duly adopted or consented to by the Board of Directors and to be in full force and
effect on the date of such certification and delivered to the Agent or the Collateral Agent, as the case may be. Where any provision of this Agreement refers to action to be taken pursuant to a Board Resolution, such action may be taken by any
committee of the Board or the Corporation or any officer or employee of the Corporation authorized to take such action by a Board Resolution. 
 
“Business Day” means any day that is not a Saturday or Sunday or a legal holiday in New York, New York or Minneapolis, Minnesota
or a day on which banking institutions in New York, New York or Minneapolis, Minnesota are authorized or required by law, regulation or executive order to be closed. 
 
“Cash Settlement” has the meaning set forth in Section 3.06(a)(i). 
 
“Closed Purchase Contract” means any Purchase
Contract with respect to which a purchase or sale of, or other settlement with respect to, the Purchase Contract Property has occurred pursuant to Article Four or that has been redeemed or is otherwise not Outstanding. 
 
“Collateral” has the meaning specified in Section
5.01(a). 
 
“Collateral Agent” means the
Person named as the “Collateral Agent” in the first paragraph of this Agreement until a successor Collateral Agent shall have become such pursuant to the applicable provisions of this Agreement, and thereafter “Collateral Agent”
shall mean such successor Person. 
 
“Corporate Trust Office” means the office of the Agent or the Collateral Agent, as appropriate, at which at any particular time its corporate trust business shall be principally administered, which office at the date hereof
is located at                                 
            . 
 
“Corporation” means the Person named as the “Corporation” in the first paragraph of this Agreement until a successor Person shall have become such pursuant to the applicable
provisions of this Agreement, and thereafter the “Corporation” shall mean such successor Person. 
 
“Debt Securities” has the meaning stated in the second recital in this Agreement and more particularly means any Debt Securities
originally issued as part of a Unit of any series. 
 

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“Debt
Security Register” with respect to any Debt Securities constituting a part of the Units of any series means the security register of the Corporation maintained by the Trustee pursuant to the Indenture. 
 
“Debt Security Settlement” has the meaning set forth
in Section 3.06 (a) (ii) . 
 
“Default”
means an Event of Default under the Indenture or a Purchase Contract Default. 
 
“Definitive Securities” means any Security in definitive form. 
 
“Definitive Unit” means any Unit comprised of Definitive Securities. 
 
“Depositary” means, with respect to Registered
Units, DTC, or any successor, or, with respect to any Unregistered Units, a common depositary for Morgan Guaranty Trust Company of New York, Brussels office, as operator of the Euroclear System, or Cedel Bank, societe anonyme, or any other relevant
depositary named in an Issuer Order, in each case, as the Holder of any Global Units. 
 
“DTC” means The Depository Trust Company or its nominee. 
 
“Event of Default”, with respect to the Debt Securities, has the meaning set forth in the Indenture. 
 
“Exchange Act” means the Securities Exchange Act of
1934, as amended. 
 
“Global Debt
Security” means a global Debt Security in bearer or registered form originally issued as part of a Global Unit of any series. 
 
“Global Purchase Contract” means a global Purchase Contract in bearer or registered form originally issued as part of a Global
Unit of any series. 
 
“Global Security”
means any of a Global Debt Security or a Global Purchase Contract. 
 
“Global Unit” means any Unit that comprises one or more Global Securities and is represented by a global Unit Certificate in bearer or registered form. 
 
“Holder” means (i) in the case of any Registered Security or Registered Unit, the Person in whose
name such Registered Security or the Registered Securities constituting a part of such Registered Unit are registered on the relevant Security Register and (ii) in the case of any Unregistered Security or Unregistered Unit, the bearer of such
Security or Unit, provided that, in the case of (i) above, so long as the Registered Securities constituting part of such Units are not separable, “Holder” shall mean the Person in whose name a Registered Security constituting a part of
such Unit is registered on the Security Register specified pursuant to Section 2.03. 
 

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“Indenture” has the meaning specified in the first recital in this Agreement. 
 
“Initial Acceleration Date” means, with respect to Purchase Contracts of any series, the initial date, if any, specified
pursuant to Section 3.02 on which such Purchase Contracts may be accelerated pursuant to Section 3.05 hereof. 
 
“Interest Payment Date”, with respect to any Debt Security, has the meaning set forth in the Indenture or in any document
executed pursuant to the terms of the Indenture relating to such Debt Security. 
 
“Issuer Order” or “Issuer Request”, means a written order or request signed in the name of the Corporation by the Chairman of the Board, a Vice Chairman of the Board, the President,
a Vice President, the Treasurer, an Assistant Treasurer or any other person authorized by the Board of Directors and delivered to the Agent or the Collateral Agent, as the case may be. 
 
“Letter of Representations” means, as of any date, the Letter of Representations or Letters of
Representations to DTC in effect as of such date from the Agent relating to the Units covered by this Agreement. 
 
“Minimum Acceleration Amount” means the minimum number of Purchase Contracts of any series as specified pursuant to Section 3.02
that may be subject to acceleration pursuant to Section 3.05. 
 
“Minimum Remaining Amount” means the minimum number of Purchase Contracts of any series as specified pursuant to Section 3.02 that must remain outstanding immediately following any acceleration pursuant to Section 3.05.

 
“Officers’ Certificate” means a
certificate signed by the Chairman of the Board, a Vice Chairman of the Board, the President, or a Vice President and the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary of the
Corporation and delivered to the Agent or the Collateral Agent, as the case may be. 
 
“Opinion of Counsel” means an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Corporation and who shall otherwise be satisfactory to the Agent or the
Collateral Agent, as the case may be. 
 
“Optional Definitive Unit Request” has the meaning set forth in Section 2.12. 
 
“Outstanding”, with respect to any Unit, Debt Security or Purchase Contract means, as of the date of determination, all Units,
Debt Securities or Purchase Contracts as the case may be, evidenced by Units theretofore authenticated, countersigned, executed and delivered under this Agreement, except: 
 

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(A) Units,
Debt Securities or Purchase Contracts theretofore deemed cancelled, cancelled by the Agent or Trustee, as the case may be, or delivered to the Agent or Trustee, as the case may be, for cancellation, in each case pursuant to the provisions of this
Agreement or the Indenture; 
 
(B) Closed Purchase
Contracts; and 
 
(C) Units, Debt Securities or
Purchase Contracts evidenced by Unit Certificates in exchange for or in lieu of which other Unit Certificates have been authenticated, countersigned, executed and delivered pursuant to this Agreement, other than any such Units, Debt Securities or
Purchase Contracts, as the case may be, evidenced by a Unit Certificate in respect of which there shall have been presented to the Agent proof satisfactory to it that such Unit Certificate is held by a bona fide purchaser in whose hands the Units,
Debt Securities or Purchase Contracts, as the case may be, evidenced by such Unit Certificate are valid obligations of the Corporation; 
 
provided, however, that in determining whether the Holders of the requisite number of Outstanding Units, Debt Securities and Purchase Contracts, as the
case may be, have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Units, Debt Securities and Purchase Contracts owned by the Corporation or any Affiliate of the Corporation shall be disregarded and deemed
not to be Outstanding, except that, in determining whether the Agent shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Units, Debt Securities and Purchase Contracts which the Agent
knows to be so owned shall be so disregarded. Units, Debt Securities and Purchase Contracts that are so owned but that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Agent the
pledgee’s right so to act with respect to such Units, Debt Securities and Purchase Contracts and that the pledgee is not the Corporation or any Affiliate of the Corporation. 
 
“Paying Agent” means any Person authorized by the Corporation to pay the Settlement Amount,
redemption price or any other sums payable by the Corporation with respect to any Purchase Contracts; provided that such Person shall be a bank or trust company organized and in good standing under the laws of the United States or any state in the
United States, having (together with its parent) capital, surplus and undivided profits aggregating at least $50,000,000 or any foreign branch or office of such a bank or trust company, and, subject to the foregoing, may be an Affiliate of the
Corporation. 
 
“Person” means any
individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 
“Pledged Items” means, as of any date, any Debt
Securities constituting a part of the Units of any series or any and all other securities, instruments or other property as may be specified pursuant to Section 3.02. 
 

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“Purchase
Contract Default” with respect to Purchase Contracts of any series means the occurrence of any of the following events: (i) failure of the Corporation to deliver the Purchase Contract Property or the cash value thereof for such Purchase
Contracts against tender of payment therefor on any Settlement Date, in the case of Purchase Contracts that obligate the Corporation to sell the Purchase Contract Property, (ii) failure of the Corporation to pay the Settlement Amount for such
Purchase Contracts when the same becomes due and payable, in the case of Purchase Contracts that obligate the Corporation to purchase the Purchase Contract Property, (iii) failure on the part of the Corporation duly to observe or perform any other
of the covenants or agreements on its part in such Purchase Contracts or in this Agreement with respect to such Purchase Contracts and continuance of such failure for a period of 60 days after the date on which written notice of such failure,
requiring the Corporation to remedy the same, shall have been given to the Corporation and the Agent by Holders of at least 25% of the affected Purchase Contracts at the time Outstanding, (iv) a Bankruptcy Event or (v) any other Purchase Contract
Default provided in any supplemental agreement under which such series of Purchase Contracts is issued or in the form of such Purchase Contracts. 
 
“Purchase Contract Property” with respect to a Purchase Contract of any series has the meaning specified pursuant to Section
3.02. 
 
“Purchase Contract Register” and
“Purchase Contract Registrar” have the respective meanings specified in Section 2.08. 
 
“Purchase Contracts” has the meaning stated in the third recital in this Agreement and more particularly means any Purchase Contracts constituting a part of the Units of any series
countersigned, executed and delivered in accordance with this Agreement. 
 
“Purchase Price” of any Purchase Contract that obligates the Corporation to sell, and the Holder to purchase, the Purchase Contract Property has the meaning specified pursuant to Section 3.02. 
 
“Registered Debt Security” means any Debt Security
registered on the Debt Security Register. 
 
“Registered Purchase Contract” means any Purchase Contract registered on the Purchase Contract Register. 
 
“Registered Security” means any of a Registered Debt Security or Registered Purchase Contract. 
 
“Registered Unit” means any Unit consisting of
Registered Securities. 
 
“Regular Record
Date” has the meaning specified pursuant to Section 2.03. 
 

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“Responsible officer,” with respect to the Agent or Collateral Agent, means the chairman or vice-chairman of the board of directors, the chairman or vice-chairman of the executive committee of the board of directors, the
president, any vice president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any senior trust officer, any trust officer or assistant trust officer, the controller and any
assistant controller or other officer of the Agent or Collateral Agent customarily performing functions similar to those performed by any of the above-designated officers and also means, with respect to a particular corporate trust or agency matter,
any other officer to whom such matter is referred because of his knowledge and familiarity with the particular subject. 
 
“Security” means any of a Debt Security or a Purchase Contract. 
 
“Security Register” means either of the Debt Security Register or the Purchase Contract Register.

 
“Settlement Amount” of any Purchase
Contract that obligates the Corporation to purchase, and the Holder to sell, the Purchase Contract Property has the meaning specified pursuant to Section 3.02. 
 
“Settlement Date” means the Stated Settlement Date and any Accelerated Settlement Date. 
 
“SRO” has the meaning specified in Section 2.01.

 
“Stated Settlement Date” of any
Purchase Contract of any series has the meaning specified pursuant to Section 3.02. 
 
“Trustee”, with respect to any Debt Securities, means the Person acting as Trustee under the Indenture until a successor Trustee shall have become such pursuant to the applicable provisions
of such Indenture, and thereafter “Trustee” shall mean such successor Trustee. 
 
“Unit” has the meaning stated in the fourth recital to this Agreement and more particularly the collective rights and obligations of the Corporation and a Holder with respect to the
Securities comprising such Unit, as specified pursuant to Section 2.03. 
 
“Unit Certificate” means a certificate evidencing the rights and obligations of the Corporation and a Holder with respect to the number of Units specified on such certificate. 
 
“Unregistered Security” means any Security other
than a Registered Security. 
 
“Unregistered
Unit” means any Unit other than a Registered Unit. 
 
“Unsettled Purchase Contract” means any Purchase Contract that has not been redeemed or with respect to which settlement has not occurred pursuant to Article Four. 
 

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ARTICLE 2

UNITS 
 
SECTION 2.01. Forms Generally. The Units of each series shall be substantially in the form of Exhibit A or in such form (not inconsistent
with this Agreement) as shall be established by or pursuant to one or more Board Resolutions (as set forth in a Board Resolution or, to the extent established pursuant to rather than set forth in a Board Resolution, an Officers’ Certificate
detailing such establishment). The Unit Certificates may have imprinted or otherwise reproduced thereon such letters, numbers or other marks of identification or designation and such legends or endorsements as the officers of the Corporation
executing the Securities constituting a part thereof may approve (execution thereof to be conclusive evidence of such approval) and that are not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with
any rule or regulation made pursuant thereto, or with any rule or regulation of any self-regulatory organization (an “SRO”) on which the Units of such series may be listed or quoted or of any securities depository or to conform to general
usage. 
 
The Unit Certificates shall be printed,
lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Unit Certificates, as evidenced by their execution of the Securities constituting a part of the Units
evidenced by such Unit Certificates. 
 
SECTION
2.02. Form of Certificate of Authentication and Countersignature. The form of the Trustee’s certificate of authentication of any Debt Securities and the form of the Agent’s execution on behalf of the Holder and countersignature of any
Purchase Contracts, each constituting a part of the Units of any series, shall be substantially in such form as set forth in the Indenture or this Agreement, as applicable. 
 
SECTION 2.03. Amount Unlimited; Issuable in Series. (a) The aggregate number of Units that may be
authenticated, countersigned and delivered under this Agreement is unlimited. 
 
The Units may be issued in one or more series. There shall be established, upon the order of the Corporation (contained in an Issuer Order) or pursuant to such procedures acceptable to the Agent as may
be specified from time to time by an Issuer Order, prior to the initial issuance of Units of any series: 
 
(i) the designation of the Units of the series, which shall distinguish the Units of the series from the Units of all
other series; 
 
(ii) any limit
upon the aggregate number of Units of the series that may be authenticated and delivered under this Agreement (except for Units authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Units of the
series pursuant to Section 2.07, 2.08, 2.09 or 2.12); 
 

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(iii) the designation of the Securities constituting a part of the Units of the series; 
 
(iv) whether and on what terms any Securities constituting a part of the Units of the series may be separated from the
Units of the series and the other Securities constituting a part of such Units; 
 
(v) in the case of Units of a series consisting in any part of Purchase Contracts, the information specified pursuant to Section 3.02; 
 
(vi) whether the Units of the series will be issuable as Registered Units (and if so, whether
such Units will be issuable in global form) or Unregistered Units (and if so, whether such Units will be issuable in global form), or any combination of the foregoing, any restrictions applicable to the offer, sale or delivery of Unregistered
Securities and, if other than as provided in Section 2.08, the terms upon which Unregistered Units of any series may be exchanged for Registered Units of such series and vice versa; 
 
(vii) in the case of Units issued as Registered Units consisting of Registered Securities
that may not be separated from the other Registered Securities constituting a part of such Units, the designation of the Security Register to be used to determine the Holder of such Units: 
 
(viii) if the units of such series are to be
issuable in definitive form (whether upon original issue or upon exchange of a temporary Unit of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, the form and terms of such certificates,
documents or conditions; 
 
(ix)
any trustees, depositaries, authenticating or paying agents, transfer agents or registrars or any other agents with respect to the Units of such series; 
 
(x) any other events of default or covenants with respect to the Units of such series; and 
 
(xi) any other terms of the series (which
terms shall not be inconsistent with the provisions of this Agreement). 
 
All Units of any one series shall be substantially identical, except as may otherwise be provided by or pursuant to the Issuer Order or procedures referred to above. All Units of any one series need not be issued at the same
time and may be issued from time to time, consistent with the terms of this Agreement, if so provided by or pursuant to such Board Resolution or such Issuer Order. 
 

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SECTION 2.04.
Denominations. Units of any series shall be issuable only in denominations of a single Unit and any integral multiple thereof. 
 
SECTION 2.05. Rights and Obligations Evidenced by the Units. Units of any series shall evidence the ownership by the Holder thereof of (a)
the principal amount of Debt Securities, if any, specified on the face of a Unit Certificate representing Definitive Units or in Schedule A attached to any Unit Certificate representing Global Units and (b) the rights and obligations of the
Corporation and the Holder under the number of Purchase Contracts, if any, specified on the face of a Unit Certificate representing Definitive Units or in Schedule A attached to any Unit Certificate representing Global Units. 
 
SECTION 2.06. Execution, Authentication, Delivery and Dating.
Upon the execution and delivery of this Agreement, and at any time and from time to time thereafter, the Corporation may deliver, subject to any limitation on the aggregate principal amount of Debt Securities, if any, or the Purchase Contracts, if
any, represented thereby, an unlimited number of Unit Certificates (including the Securities executed by the Corporation constituting the Units evidenced by such Unit Certificates) to the Trustee and/or the Agent for authentication, countersignature
or execution, as the case may be, of the Securities comprised by such Units, together with its Issuer Orders for authentication, countersignature or execution of such Securities, and the Trustee in accordance with the Indenture and the Issuer Order
of the Corporation shall authenticate the Debt Securities, if any, constituting a part of the Units evidenced by such Unit Certificates and the Agent in accordance with this Agreement and the Issuer Order of the Corporation shall countersign and
execute on behalf of the Holders thereof the Purchase Contracts, if any, constituting a part of the Units evidenced by such Unit Certificates, and each shall deliver such Unit Certificates upon the order of the Corporation. 
 
Any Debt Securities constituting a part of the Units of any
series shall be executed on behalf of the Corporation in accordance with the terms of the Indenture. Any Purchase Contracts constituting a part of the Units shall be executed on behalf of the Corporation in accordance with Section 3.01.

 
SECTION 2.07. Temporary Unit Certificates.
Pending the preparation of Unit Certificates for any series, the Corporation may execute and deliver to the Trustee and/or the Agent, as appropriate, and the Trustee and/or the Agent, as appropriate, shall authenticate, countersign, execute on
behalf of the Holder and deliver, as appropriate, in lieu of such Unit Certificates, temporary Unit Certificates for such series. Temporary Unit Certificates shall be in substantially the form of the Unit Certificates of such series, but with such
omissions, insertions and variations as may be appropriate for temporary Unit Certificates, all as may be determined by the Corporation with the concurrence of the Trustee and/or Agent, as appropriate, as evidenced by the execution and
authentication and/or countersignature of the Securities constituting a part of the Units evidenced thereby, as applicable. 
 

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If temporary
Unit Certificates for any series are issued, the Corporation will cause definitive Unit Certificates for such series to be prepared without unreasonable delay. After the preparation of such definitive Unit Certificates, the temporary Unit
Certificates shall be exchangeable therefor upon surrender of temporary Registered Units of such series at the Corporate Trust Office, at the expense of the Corporation and without charge to any Holder and, in the case of Unregistered Units, at any
agency maintained for such purpose as specified pursuant to Section 2.03. Upon surrender for cancellation of any one or more temporary Unit Certificates, the Corporation shall execute and deliver to the Trustee and/or the Agent, and the Trustee
and/or the Agent shall authenticate, countersign, execute on behalf of the Holder and deliver, as appropriate, in exchange therefor definitive Unit Certificates of the same series of like tenor, of authorized denominations and evidencing a like
number of Units as the temporary Unit Certificate or Certificates so surrendered. Until so exchanged, the temporary Unit Certificates of any series shall in all respects evidence the same benefits and the same obligations under any Debt Securities
and Purchase Contracts constituting parts of such Units, the Indenture and this Agreement as definitive Unit Certificates of such series, unless otherwise specified pursuant to Section 2.03. 
 
SECTION 2.08. Registration of Transfer and Exchange; Global
Units. The Agent shall keep at its Corporate Trust Office for each series of Registered Units a register (the register maintained in such office being herein referred to as the “Purchase Contract Register”) in which, subject to such
reasonable regulations as it may prescribe, the Agent shall provide for the registration of Registered Purchase Contracts, if any, constituting a part of such series and of transfers of such Purchase Contracts (the Agent, in such capacity, the
“Purchase Contract Registrar”). 
 
At the
option of the Holder thereof, Registered Units of any series (other than a global Registered Unit, except as set forth below) may be transferred or exchanged for a Registered Unit or Registered Units of such series having authorized denominations
evidencing the number of Units transferred or exchanged, upon surrender of such Registered Units to be so transferred or exchanged at the Corporate Trust Office of the Agent upon payment, if the Corporation shall so require, of the charges
hereinafter provided. If the Units of any series are issued in both registered and unregistered form, except as otherwise specified pursuant to Section 2.03, at the option of the Holder thereof, Unregistered Units of such series may be exchanged for
Registered Units of such series having authorized denominations and evidencing the number of Units transferred or exchanged, upon surrender of such Unregistered Units to be so transferred or exchanged at the Corporate Trust Office of the Agent and
upon payment, if the Corporation shall so require, of the charges hereinafter provided. At the option of the Holder thereof, if Unregistered Units of any series are issued in more than one authorized denomination, except as otherwise specified
pursuant to Section 2.03, such Unregistered Units may be exchanged for Unregistered Units of such series having authorized denominations evidencing the number of Units exchanged, upon surrender of such Unregistered Units to be so exchanged at the
Corporate Trust Office of the Agent or as specified pursuant to Section 2.03, and upon payment, if the Corporation shall so require, of the charges hereinafter provided. Unless otherwise specified pursuant to Section 2.03, Registered Units of any
series may not be exchanged for Unregistered Units of such series. 
 

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Whenever any units are so
surrendered for transfer or exchange, the Corporation shall execute, and the Trustee and/or the Agent, as appropriate, shall authenticate, countersign or execute, as the case may be, and deliver the Units which the Holder making the transfer or
exchange is entitled to receive. All Units (including the Securities constituting part of such Units) surrendered upon any exchange or transfer provided for in this Agreement shall be promptly cancelled and disposed of by the Agent and the Agent
will deliver a certificate of disposition thereof to the Corporation and to the Trustee as applicable. 
 
Unregistered Units shall be transferable by delivery. 
 
Subject to Section 2.12, if the Corporation shall establish pursuant to Section 2.03 that the Units of a
series are to be evidenced by one or more Global Units, then the Corporation shall execute and the Agent and Trustee shall, in accordance with this Section and Section 2.06, countersign, authenticate and execute, as appropriate, and deliver one or
more global Unit Certificates that (i) shall evidence all or a portion of the Units of such series issued in such form and not yet cancelled, (ii) in the case of Registered Units, shall be registered in the name of the Depositary for such Units or
the nominee of such Depositary, (iii) shall be delivered by the Agent to the Depositary for such Units or pursuant to such Depositary’s instructions and (iv) in the case of Registered Units, shall bear a legend substantially to the following
effect: “Unless and until it is exchanged in whole or in part for Units in definitive registered form, this Unit Certificate may not be transferred except as a whole by the Depositary to the nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.” Whenever Global Units of any series are exchanged for Definitive
Units of such series or whenever Definitive Units of any series are exchanged for Global Units of such series, the Agent shall cause, as applicable: (i) Schedule A of the Global Debt Security, if any, to be endorsed to reflect any increase or
decrease, as the case may be, in the principal amount of Debt Securities, if any, that are comprised by Global Units as a result of such exchange and (ii) Schedule A of the Global Purchase Contract, if any, to be endorsed to reflect any increase or
decrease, as the case may be, in the number of Purchase Contracts, if any, that are comprised by Global Units as a result of such exchange, whereupon such number of Global Units shall be decreased or increased for all purposes by the number so
exchanged, as noted. 
 
All Unit Certificates
authenticated, countersigned and executed upon any registration of transfer or exchange of a Unit Certificate shall evidence the ownership of the principal amount of Debt Securities, if any, specified on the face thereof and the rights and
obligations of the Holder and the Corporation under the number of Purchase Contracts, if any, specified on the face thereof and shall be entitled to the same benefits, and be subject to the same obligations, under the Indenture and this Agreement as
the Units evidenced by the Unit Certificate surrendered upon such registration of transfer or exchange. 
 
Every Unit Certificate presented or surrendered for registration of transfer or for exchange shall (if so required by the Corporation or
the Agent) be duly endorsed, or be 
 

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accompanied by a written
instrument of transfer in form satisfactory to the Corporation and the Agent, duly executed by the Holder thereof or his attorney duly authorized in writing. 
 
No service charge shall be made for any transfer or exchange of a Unit, but the Corporation and the Agent may require payment from the
Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Units, other than any exchanges pursuant to Section 2.09 not involving any transfer.

 
Notwithstanding the foregoing, and subject to
Section 2.8 of the Indenture, the Corporation shall not be obligated to execute and deliver to the Trustee or the Agent, and neither the Trustee, under the terms of the Indenture, or the Agent hereunder shall be obligated to authenticate,
countersign or execute on behalf of the Holder any Unit Certificate presented or surrendered for registration of transfer or for exchange of any Debt Securities or Purchase Contracts evidenced thereby or any Unit Certificate evidencing a Definitive
Unit to be issued in exchange for interests in Global Units or to reflect any increase or decrease in a Global Unit, Global Debt Security or Global Purchase Contract (i) during the period beginning any time on or after the opening of business 15
days before the day of mailing of a notice of redemption or of any other exercise of any right held by the Corporation with respect to the Unit (or any Security constituting a part of the Units of such series) and ending at the close of business on
the day of the giving of such notice, (ii) that evidences or would evidence any such Unit or Security selected or called for redemption or with respect to which such right has been exercised or (iii) at any given date, if such date is on or after
any date that is after the Settlement Date or the date of redemption, as applicable, with respect to the Purchase Contracts, if any, evidenced or to be evidenced by such Unit Certificate, except with respect to any Registered Debt Securities or
portions thereof that remain or will remain Outstanding following such Settlement Date or date of redemption or (iv) at any other date specified pursuant to Section 2.03. 
 
SECTION 2.09. Mutilated, Destroyed, Lost and Stolen Unit Certificates. If any mutilated Unit Certificate is
surrendered to the Agent, the Corporation shall execute and deliver to the Trustee and/or the Agent, as appropriate, and the Trustee and/or the Agent shall authenticate, countersign, execute on behalf of the Holder and deliver, as appropriate, in
exchange therefor new Securities comprised by Units of the same series, of like tenor, and evidenced by a new Unit Certificate evidencing the same number of Units and bearing a number not contemporaneously outstanding. 
 
If there shall be delivered to the Corporation and the Trustee
and/or the Agent, as appropriate, (i) evidence to their satisfaction of the destruction, loss or theft of any Unit Certificate and (ii) such security or indemnity as may be required by them to hold each of them and any agent of any of them harmless,
then, in the absence of notice to the Corporation and the Trustee and/or the Agent, as appropriate, that such Unit Certificate has been acquired by a bona fide purchaser, the Corporation shall execute and deliver to the Trustee and/or the Agent, as
appropriate, and the Trustee (in accordance with the provisions of the Indenture) and/or the Agent (in accordance with the provisions hereof) shall 
 

14 








 
authenticate, countersign,
execute on behalf of the Holder and deliver to the Holder, as appropriate, in lieu of any such destroyed, lost or stolen Unit Certificate, new Securities comprised by Units of the same series, of like tenor, and evidenced by a new Unit Certificate
evidencing the same number of Units and bearing a number not contemporaneously outstanding. 
 
Unless otherwise specified pursuant to Section 2.03, notwithstanding the foregoing, the Corporation shall not be obligated to execute and deliver to the Trustee or the Agent, and neither the Trustee
(under the Indenture), or the Agent shall be obligated to authenticate, countersign or execute on behalf of the Holder, or deliver to the Holder, a new Unit Certificate (or any Security constituting a part of such Unit) (i) during the period
beginning any time on or after the opening of business 15 days before the day of mailing of a notice of redemption or of any other exercise of any right held by the Corporation with respect to the Unit (or any Security constituting a part of such
Unit) and ending at the close of business on the day of the giving of such notice, (ii) that evidences any Unit or Purchase Contracts selected or called for redemption or with respect to which such right has been exercised, (iii) at any given date,
if such date is on or after the Settlement Date or date of redemption, as applicable, with respect to any Purchase Contracts evidenced by such Unit Certificate, except with respect to any Registered Debt Security or portion thereof evidenced by such
Unit Certificate that remains or will remain Outstanding following such Settlement Date or date of redemption or (iv) at any other date specified pursuant to Section 2.03. In lieu of delivery of a new Unit Certificate, upon satisfaction of the
applicable conditions specified in clauses (i) and (ii) of the preceding paragraph, the Agent shall deliver or cause to be delivered on the applicable Settlement Date or redemption date (i) in respect of Purchase Contracts or Debt Securities
constituting a part of the Units evidenced by such Unit Certificate that are selected or called for redemption, the redemption price of such Purchase Contracts or Debt Securities or (ii) in respect of Purchase Contracts constituting a part of the
Units evidenced by such Unit Certificate with respect to which a Cash Settlement or Debt Security Settlement (or any equivalent manner of settlement) has taken place, (x) the Purchase Contract Property (or cash value thereof), purchase price, cash
settlement value, Settlement Amount or other amount, as the case may be, deliverable with respect to such Purchase Contracts (and, in the case of an effective Cash Settlement (or any equivalent manner of settlement), the related Debt Securities) or
(y) if a Purchase Contract Default has occurred by virtue of the Corporation’s having failed to deliver the Purchase Contract Property (or cash value thereof), purchase price, cash settlement value, Settlement Amount or other amount, as the
case may be, deliverable against tender by the Agent of the purchase price, Purchase Contract Property (or the cash value thereof) or other Settlement Amount or other amount, as the case may be, such purchase price, Purchase Contract Property (or
cash value thereof) or Settlement Amount or other amount, if any, received by the Agent from the Holder in respect of the Settlement of such Purchase Contracts or in respect of principal with respect to the related Debt Securities received by the
Agent. 
 
Upon the issuance of any new Unit
Certificate under this Section, the Corporation and the Agent may require the payment of a sum sufficient to cover any tax or 
 

15 








 
other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees and expenses of the Agent) connected therewith. 
 
Every new Unit Certificate executed pursuant to this Section in lieu of any destroyed, lost or stolen Unit Certificate shall constitute an
original additional contractual obligation of the Corporation and of the Holder (with respect to any Purchase Contracts constituting a part of the Units evidenced thereby), whether or not the destroyed, lost or stolen Unit Certificate (and the
Securities evidenced thereby) shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Agreement equally and proportionately with any and all other Unit Certificates delivered hereunder. 
 
The provisions of this Section are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Unit Certificates. 
 
SECTION 2.10. Persons Deemed Owners. Prior to due presentment of a Unit Certificate of any series for
registration of transfer, the Corporation, the Trustee, the Collateral Agent and the Agent, as appropriate, and any agent of the Corporation, the Trustee, the Collateral Agent or the Agent, as appropriate, may treat the Person in whose name any
Registered Security evidenced by such Unit Certificate is registered and, with respect to any Unregistered Security constituting a part of the Units evidenced by such Unit Certificate, the bearer thereof, as the owner of the Units evidenced thereby
for all purposes whatsoever, whether or not payment with respect to any Security constituting a part of the Units evidenced thereby shall be overdue and notwithstanding any notice to the contrary. None of the Corporation, the Trustee, the Agent, the
Collateral Agent or any agent of the Corporation, the Trustee, the Collateral Agent or the Agent shall be affected by notice to the contrary. 
 
SECTION 2.11. Cancellation. Subject to Section 3.07, all Unit Certificates surrendered for payment, and all Unit Certificates surrendered
for redemption of any Debt Securities or Purchase Contracts evidenced thereby, termination or settlement of any Purchase Contracts evidenced thereby, delivery of Purchase Contract Property or registration of transfer or exchange shall, if
surrendered to any Person other than the Trustee or the Agent, as appropriate, be delivered to the Trustee and/or the Agent, as appropriate, and, if not already cancelled, any Debt Securities or Purchase Contracts evidenced by such Units shall be
promptly cancelled by the Trustee and/or the Agent, as appropriate. The Corporation may at any time deliver to the Trustee and/or the Agent, as appropriate, for cancellation any Unit Certificates previously authenticated, countersigned, executed and
delivered hereunder under the Indenture, which the Corporation may have acquired in any manner whatsoever, and all Unit Certificates so delivered shall, upon Issuer Order of the Corporation, be promptly cancelled by the Trustee and/or the Agent, as
appropriate. No Unit Certificates shall be authenticated, countersigned and executed in lieu of or in exchange for any Unit Certificates cancelled as provided in this Section, except as permitted by this Agreement. All cancelled Unit Certificates
held by the Agent shall be disposed of in accordance with its customary procedures and a certificate of their disposition shall be delivered by the Agent to the 
 

16 








 
Corporation, unless by Issuer
Order the Corporation shall direct that cancelled Unit Certificates be returned to it. 
 
If the Corporation or any Affiliate of the Corporation shall acquire any Unit Certificate, such acquisition shall not operate as a cancellation of such Unit Certificate unless and until such Unit
Certificate is delivered to the Trustee and/or the Agent, as appropriate, for the purpose of cancellation. 
 
SECTION 2.12. Exchange of Global Units and Definitive Units. In the case of Registered Units, Holders of Global Units of any series shall
receive Definitive Units of such series in exchange for interests in such Global Units if DTC notifies the Corporation that it is unwilling or unable to continue as Depositary with respect to the Global Units of such series or if at any time it
ceases to be a clearing agency under the Exchange Act, and a successor Depositary registered as a clearing agency under the Exchange Act is not appointed by the Corporation within 90 days after receipt of such notice or after it becomes aware that
DTC has ceased to be such a clearing agency. 
 
If
so provided pursuant to Section 2.03, interests in such Global Units may also be transferred or exchanged for Definitive Units upon the request of the Depositary to the Trustee and/or the Agent, as appropriate, to authenticate, countersign and
execute, as the case may be, Unit Certificates representing Definitive Units (such request being referred to herein as an “Optional Definitive Unit Request”). 
 
Definitive Units exchanged for interests in Global Units pursuant to this Section 2.12 shall be denominated
in the amounts and registered in the name of such Person or Persons as the Depositary shall instruct the Agent and the Trustee, as appropriate. 
 
Whenever Global Units are exchanged for Definitive Units, the Agent shall cause Schedule A of the Global Unit to be endorsed to reflect
any decrease in the Global Units as a result of such exchange, whereupon the Global Unit Certificate or Certificates shall be canceled and disposed of in accordance with Section 2.11. 
 
If so specified pursuant to Section 2.03, Holders of Definitive Units may transfer or exchange such
Definitive Units for interests in Global Units by depositing the Unit Certificates evidencing such Definitive Units with the Agent and requesting the Agent, and the Trustee, as appropriate, to effect such exchange. The Agent shall notify the
Depositary of any such exchange and, upon delivery to the Agent and the Trustee, as appropriate, of the Unit Certificates evidencing the Definitive Units to be so transferred or exchanged, the Agent shall take all actions required with respect to
any Global Securities evidenced by such Global Units and Unit Certificates evidencing the remaining Definitive Units, if any, will be issued in accordance with Section 2.08. 
 

17 








 
ARTICLE 3

THE PURCHASE CONTRACTS 
 
SECTION 3.01. Form and Execution of Purchase Contracts; Temporary Purchase Contracts. (a) Purchase Contracts of each series shall be
substantially in the forms attached as Exhibit A, as appropriate, or in such form (not inconsistent with this Agreement) as shall be established by or pursuant to one or more Board Resolutions (as set forth in a Board Resolution or, to the extent
established pursuant to rather than set forth in a Board Resolution, an Officers’ Certificate detailing such establishment, in each case, which may be included in any Board Resolution or Officers’ Certificate made pursuant to this
Agreement) or in one or more agreements supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Agreement. The Purchase Contracts may have imprinted or
otherwise reproduced thereon such letters, numbers or other marks of identification or designation and such legends or endorsements as the officers of the Corporation executing the same may approve (execution thereof to be conclusive evidence of
such approval) and that are not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation made pursuant thereto, or with any rule or regulation of any SRO on which the Purchase
Contracts of such series may be listed or quoted, or of any securities depository, or to conform to general usage. Purchase Contracts shall be signed on behalf of the Corporation by the chairman or vice chairman of the Board of Directors, the
president, a vice president, the treasurer or an assistant treasurer the Corporation or such other person specifically designated by the Board of Directors or the Executive Committee thereof to execute Purchase Contracts, which signature may or may
not be attested by the secretary or an assistant secretary of the Corporation. The signature of any of such officers may be either manual or facsimile. Typographical and other minor errors or defects in any such signature shall not affect the
validity or enforceability of any Purchase Contract that has been duly countersigned and delivered by the Agent. 
 
(b) In case any officer of the Corporation who shall have signed a Purchase Contract, either manually or by facsimile signature, shall
cease to be such officer before such Purchase Contract shall have been countersigned and delivered by the Agent to the Corporation or delivered by the Corporation, such Purchase Contract nevertheless may be countersigned and delivered as though the
person who signed such Purchase Contract had not ceased to be such officer of the Corporation; and a Purchase Contract may be signed on behalf of the Corporation by any person who, at the actual date of the execution of such Purchase Contract, shall
be a proper officer of the Corporation to sign such Purchase Contract, although at the date of the execution of this Agreement any such person was not such officer. 
 
(c) Pending the preparation of final Purchase Contracts of any series, the Corporation may execute and the
Agent shall countersign and deliver temporary Purchase Contracts (printed, lithographed, typewritten or otherwise produced, in each case in form satisfactory to the Agent). Such temporary Purchase Contracts shall be issuable substantially in the
form of the final Purchase Contracts but with such omissions, insertions and variations 
 

18 








 
as may be appropriate for
temporary Purchase Contracts, all as may be determined by the Corporation with the concurrence of the Agent. Such temporary Purchase Contracts may contain such reference to any provisions of this Agreement as may be appropriate. Every such temporary
Purchase Contract shall be executed by the Corporation and shall be countersigned by the Agent upon the same conditions and in substantially the same manner, and with like effect, as the final Purchase Contracts. Without unreasonable delay, the
Corporation shall execute and shall furnish final Purchase Contracts and thereupon such temporary Purchase Contracts may be surrendered in exchange therefor without charge, and the Agent shall countersign and deliver in exchange for such temporary
Purchase Contracts final Purchase Contracts evidencing a like aggregate number of Purchase Contracts of the same series and of like tenor as those evidenced by such temporary Purchase Contracts. Until so exchanged, such temporary Purchase Contracts
shall be entitled to the same benefits under this Agreement as final Purchase Contracts. 
 
SECTION 3.02. Number Unlimited Issuable in Series. (a) The aggregate number of Purchase Contracts that may be delivered under this Agreement is unlimited. 
 
(b) The Purchase Contracts may be issued in one or more
series. There shall be established in or pursuant to one or more Board Resolutions (and to the extent established pursuant to rather than set forth in a Board Resolution, in an Officers’ Certificate detailing such establishment) or established
in one or more agreements supplemental hereto, prior to the initial issuance of Purchase Contracts of any series: 
 
(i) the designation of the Purchase Contracts of the series, which shall distinguish the Purchase Contracts of the series
from the Purchase Contracts of all other series; 
 
(ii) any limit upon the aggregate number of the Purchase Contracts of the series that may be countersigned and delivered under this Agreement (except for Purchase Contracts countersigned and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other Purchase Contracts of the series); 
 
(iii) the specific property (the “Purchase Contract Property”) used to determine the amount payable upon
settlement of the Purchase Contracts of the series, and the amount of such property (or the method for determining the same); 
 
(iv) whether the Purchase Contracts of the series provide for the purchase by the Corporation and the sale by the Holder
or the sale by the Corporation and the purchase by the Holder of the Purchase Contract Property; 
 
(v) in the case of Purchase Contracts that obligate the Corporation to sell, and the Holder to purchase, Purchase Contract
Property, the Purchase Price at which and, if other than U.S. Dollars, the coin or currency with which the Purchase Contract Property is to be purchased by the Holder upon 
 

19 








 
settlement of
the Purchase Contracts of the series (or the method for determining the same) and whether the Purchase Price for such Purchase Contracts may be paid in cash or by the exchange of any other security of the Corporation, or both, or otherwise;

 
(vi) in the case of Purchase
Contracts that obligate the Corporation to purchase, and the Holders to sell, Purchase Contract Property, the Settlement Amount for the Purchase Contracts of the series (or the method for determining the same) and, if other than U.S. Dollars, the
coin or currency in which such Settlement Amount is to be paid; 
 
(vii) whether the settlement of the Purchase Contracts of the series is to be in cash or by delivery of the Purchase Contract Property, or otherwise, and the method of settlement of the Purchase
Contracts of the series; 
 
(viii)
the specific date or dates on which the Purchase Contracts will be settled, whether the settlement may be accelerated by the Corporation or the Holders thereof and, if so, the initial accelerated settlement date, the minimum number of Purchase
Contracts that may be accelerated and the minimum number of Purchase Contracts greater than zero that must remain Outstanding immediately following such acceleration; 
 
(ix) whether the Purchase Contracts of the series will be in registered form
(“Registered Purchase Contracts”) or bearer form (“Bearer Purchase Contracts”) or both; 
 
(x) whether any Purchase Contracts of the series will be issued in global form or definitive form or both, and whether and
on what terms (if different from those set forth herein) Purchase Contracts in one form may be converted into or exchanged for Purchase Contracts in the other form; 
 
(xi) any agents, depositaries, authenticating or paying agents, transfer agents or registrars
or any determination or calculation agents or other agents with respect to Purchase Contracts of the series; 
 
(xii) whether and on what terms the Purchase Contracts of the series may be separated from the other components of the
Units of which the Purchase Contracts are a component; 
 
(xiii) whether the Purchase Contracts of such series will be subject to redemption by the Corporation and, if so, the initial redemption date, the minimum number of Purchase Contracts that may be redeemed and the minimum
number of Purchase Contracts greater than zero that must remain Outstanding immediately following such redemption; and 
 

20 








 
(xiv) any other terms of the Purchase Contracts of the series (which terms shall not be inconsistent with the provisions of this Agreement). 
 
(c) All Purchase Contracts of any one series shall be substantially identical, except as may otherwise be provided by or pursuant to the
Board Resolution or Officers’ Certificate referred to above or as set forth in any such agreement supplemental hereto. All Purchase Contracts of any one series need not be issued at the same time and may be issued from time to time, consistent
with the terms of this Agreement, if so provided by or pursuant to such Board Resolution, such Officers’ Certificate or in any such agreement supplemental hereto. 
 
SECTION 3.03. Countersignature, Execution on Behalf of Holder and Delivery of Purchase Contracts. (a) The
Corporation may deliver Purchase Contracts of any series executed by the Corporation to the Agent for countersignature and execution on behalf of the Holders, together with the applicable documents referred to below in this Section, and the Agent
shall thereupon countersign, execute on behalf of the Holders and deliver such Purchase Contracts to or upon the order of the Corporation (contained in the Issuer Order referred to below in this Section) or pursuant to such procedures acceptable to
the Agent as may be specified from time to time by an Issuer Order. If provided for in such procedures, such Issuer order may authorize countersignature, execution on behalf of the Holders and delivery pursuant to oral instructions from the
Corporation or its duly authorized agent, which instructions shall be promptly confirmed in writing. In countersigning such Purchase Contracts, executing such Purchase Contracts on behalf of the Holders and accepting the responsibilities under this
Agreement in relation to the Purchase Contracts, the Agent shall be entitled to receive (in the case of subparagraphs (ii), (iii) and (iv) below only at or before the time of the first request of the Corporation to the Agent to countersign and
execute on behalf of the Holders Purchase Contracts in a particular form) and shall be fully protected in relying upon, unless and until such documents have been superseded or revoked: 
 
(i) an Issuer Order requesting such countersignature and execution and setting forth delivery
instructions if the Purchase Contracts are not to be delivered to the Corporation; 
 
(ii) any Board Resolution, Officers’ Certificate and/or executed supplemental agreement pursuant to which the forms
and terms of the Purchase Contracts were established; 
 
(iii) an Officers’ Certificate setting forth the forms and terms of the Purchase Contracts, stating that the form or forms and terms of such Purchase Contracts have been established pursuant to Sections 3.01 and 3.02
and comply with this Agreement, and covering such other matters as the Agent may reasonably request; and 
 
(iv) at the option of the Corporation, either an Opinion of Counsel or a letter addressed to the Agent permitting it to
rely on an Opinion of Counsel, substantially to the effect that: 
 

21 








 
(A) the forms of the Purchase Contracts have been duly authorized and established in conformity with the provisions of this Agreement; 
 
(B) the terms of the Purchase Contracts have been duly authorized and established in conformity with the provisions of
this Agreement and certain terms of the Purchase Contracts have been established pursuant to a Board Resolution, an Officers’ Certificate or a supplemental agreement in accordance with this Agreement, and when such other terms as are to be
established pursuant to procedures set forth in an Issuer Order shall have been established, all terms will have been duly authorized by the Corporation and will have been established in conformity with the provisions of this Agreement; and

 
(C) when the Purchase Contracts
have been executed by the Corporation and by the Agent on behalf of the Holders and countersigned by the Agent in accordance with the provisions of this Agreement and delivered to and duly paid for by the purchasers thereof, subject to such other
conditions as may be set forth in such Opinion of Counsel, they will have been duly issued under this Agreement and will be valid and legally binding obligations of the Corporation, enforceable in accordance with their respective terms, and will be
entitled to the benefits of this Agreement. 
 
In
rendering such opinions, such counsel may qualify any opinions as to enforceability by stating that such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium and other similar laws affecting the rights and
remedies of creditors and is subject to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). Such counsel may rely upon opinions of other counsel (copies of which shall be
delivered to the Agent), who shall be counsel reasonably satisfactory to the Agent, in which case the opinion shall state that such counsel believes he and the Agent are entitled so to rely. Such counsel may also state that, insofar as such opinion
involves factual matters, he has relied, to the extent he deems proper, upon certificates of officers of the Corporation and its subsidiaries and certificates of public officials. 
 
(b) The Agent shall have the right to decline to countersign, execute on behalf of the Holders and deliver
any Purchase Contract under this Section if the Agent, being advised by counsel, determines that such action may not lawfully be taken by the Corporation or if the Agent in good faith by its board of directors or board of trustees determines that
such action would expose the Agent to personal liability to existing registered or beneficial holders of Purchase Contracts or would affect the Agent’s own rights, duties or immunities under the Purchase Contracts, this Agreement or otherwise.

 

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(c) If the
Corporation shall establish pursuant to Section 3.02 that the Purchase Contracts of a series are to be evidenced by one or more Global Purchase Contracts, then unless otherwise agreed between the Corporation and the Agent the Corporation shall
execute and the Agent shall, in accordance with this Section and the Issuer Order with respect to such series, countersign, execute on behalf of the Holders and deliver one or more Global Purchase Contracts that (i) shall evidence all or a portion
of the Purchase Contracts of such series issued in such form and not yet cancelled, (ii) in the case of Registered Purchase Contracts, shall be registered in the name of the Depositary for such Purchase Contracts or the nominee of such Depositary,
(iii) shall be delivered by the Agent to such Depositary or pursuant to such Depositary’s instructions and (iv) in the case of Registered Purchase Contracts, shall bear a legend substantially to the following effect: “Unless and until it
is exchanged in whole or in part for Purchase Contracts in definitive registered form, this Purchase Contract may not be transferred except as a whole by the Depositary to the nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.” 
 
(d) If so required by applicable law, each Depositary for a series of Registered Purchase Contracts must, at
the time of its designation and at all times while it serves as Depositary, be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and any other applicable statute or regulation. 
 
(e) Each Purchase Contract shall be dated the date of its
countersignature. A Purchase Contract shall not be valid for any purpose, unless and until such Purchase Contract has been executed by the Agent on behalf of the Holder and countersigned by the manual signature of an authorized officer of the Agent.
Such countersignature by an authorized officer of the Agent upon any Purchase Contract executed by the Corporation in accordance with this Agreement shall be conclusive evidence that the Purchase Contract so countersigned has been duly delivered and
issued hereunder. 
 
SECTION 3.04. Further
Provisions Relating to Issuance of Purchase Contracts. Purchase Contracts may be executed by the Corporation and delivered to the Agent upon the execution of this Agreement or from time to time thereafter and in connection with exchanges,
substitutions and transfers of Units of any series. Subsequent to the original issuance of the Purchase Contracts, the Agent shall, subject to the conditions set forth in this Article and Article Two, countersign and execute on behalf of the Holder
Purchase Contracts issued in exchange or substitution for or upon transfer of Unit Certificates evidencing one or more previously countersigned and executed Unsettled Purchase Contracts evidenced by the Unit Certificates to be exchanged, substituted
for or transferred. 
 
SECTION 3.05. Purchase of
Purchase Contract Property; Optional Acceleration of Purchase Obligations; Authorization of Agent by Holder; Transferees Bound. (a) Unless otherwise specified pursuant to Section 3.02, the Unsettled Purchase Contracts of any series will either (i)
obligate the Holders thereof to purchase, and the 
 

23 








 
Corporation to sell or deliver
the cash value of, Purchase Contract Property or (ii) obligate the Corporation to purchase, and the Holders thereof to sell or deliver the cash value of, Purchase Contract Property, in each case specified pursuant to Section 3.02 (or a quantity
calculated by a method specified pursuant to Section 3.02) on the Stated Settlement Date at the Purchase Price specified pursuant to Section 3.02. 
 
(b) If this Section is specified as applicable pursuant to Section 3.02, the Corporation may, subject to paragraph (c) of this Section, at
its sole option and in its sole discretion at any time or from time to time (unless otherwise specified pursuant to Section 3.02) on not less than 30 nor more than 60 days’ written notice (an “Acceleration Notice”) to the Agent and
the Holders, in the manner provided in Section 11.05 and Section 11.06, respectively, accelerate the obligations of the Holders of at least the Minimum Acceleration Amount of Unsettled Purchase Contracts to purchase or sell, as the case may be, and
of the Corporation to sell or purchase, as the case may be, on any Accelerated Settlement Date (provided that such Accelerated Settlement Date may not be prior to the Initial Acceleration Date), the quantity of Purchase Contract Property specified
pursuant to Section 3.02 for each Unsettled Purchase Contract subject to such acceleration; provided that no such acceleration with respect to fewer than all Unsettled Purchase Contracts shall (unless otherwise specified pursuant to Section 3.02)
result in fewer than the Minimum Remaining Amount of Unsettled Purchase Contracts remaining Outstanding after such Accelerated Settlement Date; and provided further that the Corporation shall have the right, in its sole discretion, on or before the
10th day prior to such Accelerated Settlement Date, to rescind any Acceleration Notice by written notice to the Agent and written notice to the Holders pursuant to Sections 11.05 and 11.06 (whereupon all rights and obligations of the Corporation and
the Holders that would have arisen as a result of such Acceleration Notice shall be of no force and effect), without prejudice to the rights of the Corporation, including without limitation its rights to deliver an Acceleration Notice in the future.
If fewer than all Unsettled Purchase Contracts of such series are to be accelerated to a particular Accelerated Settlement Date, the Agent shall select from among the Unsettled Purchase Contracts such number thereof as are being accelerated on a pro
rata basis, by lot or by such other means reasonably acceptable to the Agent, with appropriate adjustment being made to prevent the fractional acceleration of the settlement of Purchase Contracts, such that the settlement of Purchase Contracts are
accelerated only in whole and not in part. 
 
(c)
Each Holder of a Unit, by his acceptance thereof, authorizes and directs the Agent to enter into, deliver and perform any Purchase Contracts that are part of such Unit on his behalf, agrees to be bound by the terms and provisions thereof, covenants
and agrees to perform its obligations under the Purchase Contracts evidenced by such Unit, and consents and agrees to the provisions hereof. If the provisions of Section 3.06 are applicable to the Units of any series, each Holder of a Unit of such
series, by his acceptance thereof, further covenants and agrees that, to the extent such Holder is deemed to have elected to satisfy its obligations under any Purchase Contracts that are part of such Unit by effecting a Debt Security Settlement as
provided in Section 3.06, and subject to the terms thereof, redemption payments with respect to principal of any Debt Securities that are part of such Unit shall be 
 

24 








 
applied by the Agent in
satisfaction of such Holder’s obligations under such Purchase Contract on the applicable Settlement Date. 
 
(d) Upon registration of transfer of a Purchase Contract of any series, the transferee shall be bound (without the necessity of any other
action on the part of such transferee, except as may be required by the Agent pursuant to this Article Three) under the terms of this Agreement and such Purchase Contract, and the transferor shall be released from the obligations under the Purchase
Contract so transferred. 
 
(e) Each Holder of a
Unit of any series, by his acceptance thereof, authorizes the Agent to execute on his behalf any Purchase Contracts that are part of such Unit, authorizes and directs the Agent on his behalf to take such other action (including without limitation
any actions required under Article Five), and covenants and agrees to take such other action as may be necessary or appropriate, or as may be required by the Agent, to effect the provisions of this Agreement, the Units and the Purchase Contracts and
appoints the Agent as his attorney-in-fact for any and all such purposes. 
 
SECTION 3.06. Payment of Purchase Price. (a) Unless otherwise specified pursuant to Section 3.02 (in the case of a Unit of any series consisting of a Debt Security and a Purchase Contract that obligates the Corporation to
sell, and the Holder to purchase, Purchase Contract Property), the Purchase Price for any Purchase Contract Property purchased by a Holder pursuant to such Purchase Contract shall be payable at the Corporate Trust Office of the Agent: 
 
(i) at the option of the Holder of the Unit
of which such Purchase Contract is part, after receipt by the Agent of written notice from the Holder not less than 10 days nor more than 20 days prior to the applicable Settlement Date indicating the Holder’s choice of cash settlement, by
delivery by such Holder not later than 11:00 a.m., New York City time, on the Business Day immediately preceding the Settlement Date of the Purchase Price (a “Cash Settlement”), to the Agent in immediately available funds payable to or
upon the order of the Corporation; or 
 
(ii) by application of any payment received by the Agent, Collateral Agent, Trustee or Paying Agent with respect to the principal of any Debt Security included in the Unit of which such Purchase Contract constitutes a part, as
provided in paragraph (f) of this Section (a “Debt Security Settlement”). 
 
A Holder of such Units who fails to provide notice to the Agent as provided above that it will make a Cash Settlement with respect to the settlement of a Purchase Contract, or a Holder of such Units
who provides such notice but does not effect a Cash Settlement in accordance with the terms of this Section 3.06, will be deemed to have elected to have the Purchase Price for the Purchase Contract Property paid pursuant to a Debt Security
Settlement. 
 

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(b)
Notwithstanding paragraph (a) of this Section, in the case of Purchase Contracts of any series that obligate the Corporation to sell, and the Holders to purchase, Purchase Contract Property, the Corporation shall not be entitled to sell any Purchase
Contract Property or receive any payment of the Purchase Price therefor, if the Corporation fails to deliver such Purchase Contract Property or the cash value thereof (if specified pursuant to Section 3.02) against tender by the Agent of payment
therefor. 
 
(c) Unless otherwise specified
pursuant to Section 3.02, to be effective, payment with respect to a Purchase Contract pursuant to a Cash Settlement must be deposited with the Agent by 11:00 a.m., New York City time, on the Business Day immediately preceding the Settlement Date
and must be made with respect to all (and not fewer than all) of the Purchase Contracts to be settled on such Settlement Date (i) included in the Definitive Units that are registered in the name of the Person effecting Cash Settlement in the
Purchase Contract Register, (ii) included in the Global Units that are beneficially owned by the Person effecting Cash Settlement as specified in the records of the direct and indirect participants of the Depositary or (iii) in the case of Purchase
Contracts included in Unregistered Definitive Units, owned by the Person effecting Cash Settlement, and, in the case of (ii) and (iii) above, as certified in writing by such Person, which certification shall be collected, in the case of (ii) above,
on behalf of such Person by the direct and indirect participants in the Depositary through which such Person holds interests in the Global Units, and which will be provided to the Agent in the case of (iii) above, by such Person or, in the case of
(ii) above, by the Depositary or any direct participant of such Depositary, at the time payment pursuant to a Cash Settlement is deposited with the Agent. Any attempted Cash Settlement other than in accordance with this Section 3.06 shall be deemed
to have not been made and any payments made to the Agent or by a Holder not complying with this Section 3.06 shall be returned by the Agent to such Holder. 
 
(d) The Corporation shall not be obligated to deliver any Purchase Contract Property (or the cash value thereof) with respect to a
Purchase Contract of any series that obligates the Corporation to sell, and the Holder to purchase, Purchase Contract Property unless it shall have received payment in full of the applicable Purchase Price for any Purchase Contract Property to be
purchased thereunder in the manner set forth herein or in any Issuer Order relating to the issuance of the Purchase Contracts of such series. The Corporation shall not be obligated to pay the Purchase Price or any other Settlement Amount for any
Purchase Contract Property to be purchased by the Corporation pursuant to any Purchase Contract that obligates the Corporation to purchase, and the Holder to sell, Purchase Contract Property unless it shall have received such Purchase Contract
Property (or the cash value thereof) or any other Settlement Amount in the manner set forth herein or as specified pursuant to Section 3.02. 
 
(e) In the case of Purchase Contracts that obligate the Corporation to sell, and the Holders to purchase, Purchase Contract Property in
each case consisting of securities in registered form, the Agent shall cause such securities deliverable in respect of such Purchase Contracts to be registered, in the case of Registered Units, in the name of the Holder of such Units as set forth in
the appropriate Securities Register. 
 

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(f) Unless a
Holder of a Unit of any series has effected a Cash Settlement in satisfaction of his obligations under any Purchase Contracts constituting a part of such Unit that obligate the Holder, or represent the Holder’s right, to purchase Purchase
Contract Property, any payment with respect to principal of any Debt Security evidenced by such Unit that is received by the Agent, Collateral Agent, Trustee or Paying Agent in connection with any Debt Security Settlement shall be paid by the Agent
to the Collateral Agent for delivery to the Corporation in satisfaction of the Holder’s obligations under the Global Purchase Contract or Purchase Contracts constituting a part of such Units. Any payment that is received by the Agent,
Collateral Agent, Trustee or Paying Agent with respect to interest on a Debt Security related to a Purchase Contract that has been settled in accordance with Section 3.06(a)(ii) shall be distributed to the Holders of Units upon surrender of the
appropriate Unit Certificate. 
 
(g) Except as
otherwise specified pursuant to Section 3.02, all payments to be made by the Holders or by the Agent, Collateral Agent, Trustee or Paying Agent shall be made in lawful money of the United States of America, by certified check or wire transfer in
immediately available funds in accordance with such regulations as the Agent may reasonably establish consistent with the provisions of this Agreement. 
 
(h) Any payment of the applicable Purchase Price deposited by a Holder hereunder with respect to a Purchase Contract shall be held by the
Agent in custody for the benefit of the Holder and applied in satisfaction of such Holder’s obligations under such Purchase Contract, or released and delivered to the Holder upon the failure of the Corporation to satisfy its settlement
obligations against tender by the Agent of such payment of the applicable Purchase Price. 
 
SECTION 3.07. Delivery of Purchase Contract Property or Other Amounts. Unless otherwise specified pursuant to Section 3.02, (i) in the case of Purchase Contracts obligating the Corporation to sell, and
the Holders to purchase, Purchase Contract Property, upon its receipt of payment in full of the Purchase Price for the Purchase Contract Property purchased by any Holder pursuant to the foregoing provisions of this Article, the Corporation shall
cause such Purchase Contract Property to be delivered to the Holders; and (ii) in the case of Purchase Contracts obligating the Corporation to purchase, and the Holders to sell, Purchase Contract Property, upon its receipt of the Purchase Contract
Property, Settlement Amount or other amount, the Corporation shall cause the Purchase Price, Settlement Amount or other amount, as applicable, to be delivered to the Holders, provided that in each case such delivery shall be made only upon delivery
to the Agent of the related Unit Certificate. 
 
Upon receipt of any Unit Certificate, the Agent shall cancel such Unit Certificate in accordance with Section 2.11 as a result of the delivery referred to in the preceding paragraph. If any Debt Securities relating to Closed Purchase
Contracts constituting a part of Units evidenced by such Unit Certificate remain outstanding as a result of Cash Settlement, the Corporation shall execute and the Trustee shall authenticate and deliver (i) in the case of Definitive Units, to the
Holder thereof, in accordance with the terms of the Indenture, a new certificate or certificates representing solely the principal amount of 
 

27 








 
Debt Securities still
outstanding (ii) in the case of Global Units, if a Global Debt Security not constituting part of a Global Unit has not previously been issued by the Corporation, a second Global Debt Security representing Debt Securities still Outstanding that are
not part of Units. If a second Global Debt Security referred to in clause (ii) of the immediately preceding sentence has already been issued, the Agent shall note thereon an appropriate increase in the number of Debt Securities represented by such
Global Debt Security. 
 
SECTION 3.08. Charges and
Taxes. The Corporation shall not be required to pay any tax or taxes that may be payable with respect to any exchange of or substitution for a Unit Certificate or Security and the Corporation shall not be required to issue or deliver such Unit
Certificate or such Security unless or until the Person or Persons requesting the transfer or issuance thereof shall have paid to the Corporation the amount of such tax or shall have established to the satisfaction of the Corporation that such tax
has been paid. The Agent shall be under no obligation to pay any such tax. 
 
 
ARTICLE 4 
REMEDIES 
 
SECTION 4.01.
Acceleration of Obligations. If at any time there shall have occurred an Event of Default with respect to any Debt Securities constituting a part of any Units that has resulted in the principal of any Debt Securities being declared due and payable
immediately pursuant to Section 502 of the Indenture, then the Holders of not less than 25% of all Unsettled Purchase Contracts constituting a part of any Units comprising Debt Securities subject to such declaration may on behalf of all Holders of
such Unsettled Purchase Contracts by notice in writing to the Corporation and Agent declare the obligations of such Holders to purchase or sell, as the case may be, and of the Corporation to sell or purchase, as the case may be, the quantity of
Purchase Contract Property specified pursuant to Section 3.02 under each such Unsettled Purchase Contract to be accelerated to the date of such declaration and, upon any such declaration, such obligations shall be so accelerated. The foregoing
provision is subject to the condition that if, at any time prior to settlement of such Purchase Contracts, the declaration with respect to Debt Securities referred to in the immediately preceding sentence and its consequences are rescinded and
annulled in accordance with Section 502 of the Indenture, the acceleration of the obligations with respect to Unsettled Purchase Contracts referred to in the immediately preceding sentence and its consequences may be annulled and rescinded by vote
of the Holders of not less than 25% of all affected Unsettled Purchase Contracts Outstanding. 
 
SECTION 4.02. Unconditional Rights under Purchase Contracts; Limitation on Proceedings by Holders. (a) The Holder of any Unit shall have the right, which is absolute and unconditional, to purchase or
sell, as the case may be, Purchase Contract Property pursuant to such Purchase Contract and to institute suit for the enforcement of such right, and such right shall not be impaired without the consent of such Holder. 
 
(b) No Holder of any Unit shall have any right by virtue of or
by availing itself of any provision of this Agreement to institute any action or proceeding at law or in 
 

28 








 
equity or in bankruptcy or
otherwise upon or under or with respect to this Agreement, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder, unless such Holder previously shall have given written
notice to the Agent and the Corporation of a Default and of the continuance thereof and, (i) in the case of an Event of Default under Debt Securities or the Indenture, the procedures (including notice to the Trustee and the Corporation) described in
Article Five of the Indenture have been complied with and (ii) in the case of a Purchase Contract Default specified in clause (ii) of the definition thereof, unless the Holders of not less than 25% of all affected Purchase Contracts comprised by all
Units then Outstanding shall have made written request upon the Agent to institute such action or proceedings in its own name as Agent hereunder and shall have offered to the Agent such reasonable indemnity as it may require pursuant to Article Six,
and the Agent for 60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute such action or proceedings and no direction inconsistent with such request shall have been given to the Agent in writing by
holders of a majority of all affected Purchase Contracts constituting parts of Units then Outstanding. Any Holder of a Unit may then (but only then) seek to enforce the performance of the covenant or agreement with respect to which such Purchase
Contract Default exists; it being intended and expressly covenanted by the Holder of each Unit with every other Holder and the Agent that no Holder shall have any right by virtue of or by availing itself of any provision of this Agreement to affect,
disturb or prejudice the rights of any other Holder, or to obtain or seek to obtain priority over or preference to any other Holder, or to enforce any right under this Agreement, except in accordance with this Section or the Indenture and for the
equal, ratable and common benefit of all Holders. For the protection and enforcement of the provisions of this Section, each and every Holder of a Unit and the Agent shall be entitled to such relief as can be given either at law or in equity.

 
SECTION 4.03. Restoration of Rights and
Remedies. If any Holder of Units has instituted any proceeding to enforce any right or remedy under this Agreement and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to such Holder, then and in
every such case, subject to any determination in such proceeding the Corporation, the Agent, the Trustee and such Holder shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies the
Corporation, the Agent, the Trustee and such Holder shall continue as though no such proceeding had been instituted. 
 
SECTION 4.04. Rights and Remedies Cumulative. Subject to Section 4.02, and except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Unit Certificates, no right or remedy herein conferred upon or reserved to the Holders of Units is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 

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SECTION 4.05.
Delay or Omission Not Waiver. No delay or omission of any Holder to exercise any right or remedy accruing upon any Default shall impair any such right or remedy or constitute a waiver of any such Default or an acquiescence therein. Every right and
remedy given by this Article or by law to the Holders may be exercised from time to time, and as often as may be deemed expedient, by such Holders. 
 
SECTION 4.06. Waiver of Past Defaults. The Holders of not less than a majority of all affected Purchase Contracts evidenced by Units of
all series at the time Outstanding may on behalf of the Holders of all affected Units waive any past Purchase Contract Default hereunder and its consequences, except, unless theretofore cured (i) a Purchase Contract Default resulting from the
failure of the Corporation to deliver (A) in the case of Purchase Contracts obligating the Corporation to sell, and the Holders to purchase, Purchase Contract Property (or the cash value thereof) Purchase Contract Property (or the cash value
thereof) against tender of payment therefor or (B) in the case of Purchase Contracts obligating the Corporation to purchase, and the Holders to sell, Purchase Contract Property (or the cash value thereof) the applicable Purchase Price or other
Settlement Amount specified pursuant to Section 3.02 against tender of Purchase Contract Property or other amount specified pursuant to Section 3.02 therefor or (ii) a Purchase Contract Default with respect to a covenant or provision hereof which
under Article Seven cannot be modified or amended without approval of the Holder of each affected Purchase Contract that is a part of an Outstanding Unit of any series. In the case of any such waiver, the Holders, the Agent and the Corporation shall
be restored to their former positions and rights hereunder, respectively. 
 
Upon any such waiver, such Purchase Contract Default shall cease to exist, for every purpose of this Agreement, but no such waiver shall extend to any subsequent or other Purchase Contract Default or impair any right
consequent thereon unless so expressly therein provided. 
 
SECTION 4.07. Undertaking for Costs. All parties to this Agreement agree, and each Holder of any Unit by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Agreement, or in any suit against the Agent for any action taken, suffered or omitted by it as Agent, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and
that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
provided that the provisions of this Section shall not apply to any suit instituted by the Agent, to any suit instituted by any Holder of Units, or group of Holders, holding in the aggregate more than 10% of the Outstanding Units, or to any suit
instituted by any Holder for enforcement of the right to purchase or sell Purchase Contract Property under the Purchase Contracts constituting a part of the Units held by such Holder or to receive payment of the applicable Purchase Price (or other
Settlement Amount that may be specified pursuant to Section 3.02) with respect thereto. 
 

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SECTION 4.08.
Waiver of Stay or Extension Laws. The Corporation covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension
law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Agreement; and the Corporation (to the extent that it may lawfully do so) each hereby expressly waives all benefit or advantage of
any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Agent, or the Holders, but will suffer and permit the execution of every such power as though no such law had been enacted.

 
SECTION 4.09. Agent May File Proofs of Claims.
In case of the pendency of any receivership, insolvency, liquidation, bankruptcy or other judicial proceeding relating to the Corporation or the property of the Corporation or its creditors, the Agent shall be entitled and empowered, by intervention
in such proceeding or otherwise, 
 
(i) to file and prove a claim and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Agent (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Agent, its agents and counsel) and of the Holders allowed in such judicial proceeding; and 
 
(ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the
same; 
 
and any receiver, assignee, trustee, liquidator or other
similar official in any such proceeding is hereby authorized by each Holder to make such payments to the Agent, and in the event that the Agent shall consent to the making of such payments directly to the Holders, to pay to the Agent any amount due
to it hereunder; provided, however, that nothing herein shall be deemed to authorize the Agent to authorize or consent to or vote for or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Units or the rights of any Holder thereof, or to authorize the Agent to vote in respect of the claim of any Holder of Units in any such proceeding. 
 
SECTION 4.10. Suits for Enforcement. In case a Purchase Contract Default has occurred, has not been waived
and is continuing, and subject to receipt by the Agent of the request referred to in Section 4.02 or the direction referred to in Section 4.11 and the security or indemnity referred to in Section 6.03(f), the Agent shall have the right to enforce,
on behalf of the Holders, the Purchase Contracts and the covenants and agreements of the Corporation contained in the Purchase Contracts and in this Agreement with respect to the Purchase Contracts and to proceed to protect and enforce such rights
by appropriate judicial proceedings to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any such covenant or agreement contained in this Agreement or in the
Purchase Contracts or in aid of the exercise of any power granted in this Agreement or to enforce any other legal or equitable right vested in the Agent by this Agreement or by law. 
 

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All rights of
action and of asserting claims under this Agreement, or under the Units or any Securities comprised by the Units, may be enforced by the Agent without the possession of the Units or any of the Securities comprised by the Units or the production
thereof on any trial or other proceedings relative thereto, and any such actions or proceedings instituted by the Agent shall be brought in its own name as agent and any recovery of judgment, subject to the payment of the expenses, disbursements and
compensation of the Agent, each predecessor Agent and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Units or Securities in respect of which such action was taken. 
 
SECTION 4.11. Control by Holders. The Holders of a majority of
affected Outstanding Purchase Contracts constituting a part of any Outstanding Units shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Agent, or exercising any power conferred on
the Agent with respect to such Purchase Contracts by this Agreement; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Agreement and provided further that (subject to the provisions of Section
6.01) the Agent shall have the right to decline to follow any such direction if the Agent, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken or if the Agent in good faith by its board of
directors or board of trustees or a committee of its Responsible Officers, shall determine that the action or proceedings so directed could involve the Agent in personal liability or if the Agent in good faith shall so determine that the actions or
forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of Units not joining in the giving of said direction, it being understood that (subject to Section 6.01) the Agent shall have no duty to
ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders. 
 
Nothing in this Agreement shall impair the right of the Agent in its discretion (but subject to Section 4.10) to take any action deemed proper by the Agent and which is not inconsistent with such
direction or directions by Holders. 
 
 
ARTICLE 5 
SECURITY INTERESTS AND COLLATERAL AGENT

 
SECTION 5.01. Granting of Security Interests;
Rights and Remedies of Collateral Agent; Perfection. In order to secure the observance and performance of the covenants and agreements of the Holders of Purchase Contracts contained herein and in such Purchase Contracts, unless otherwise specified
pursuant to Section 2.03: 
 
(a) Effective upon
issuance of Units of any series consisting of Debt Securities and Purchase Contracts, the Holders thereof acting through the Agent, as their attorney-in-fact, shall be deemed to grant, sell, convey, assign, transfer and pledge unto the Collateral
Agent, as agent of and for the benefit of the Corporation, as collateral security for the performance when due by such Holders of their respective obligations hereunder and under the Purchase Contracts constituting a part of such Units, a security
interest in and to, 
 

32 








 
and a lien upon and right of
set-off (the “Pledge”) against, all of their right, title and interest in and to (i) the Pledged Items; (ii) all additions to and substitutions for such Pledged Items as may be permissible, if so specified pursuant to Section 3.02; (iii)
all income, proceeds and collections received or to be received, or derived or to be derived, now or any time hereafter from or in connection with (i) and (ii) above, and (iv) all powers and rights now owned or hereafter acquired under or with
respect to the Pledged Items (such Pledged Items, additions, substitutions, proceeds, collections, powers and rights being herein collectively called the “Collateral”). 
 
(b) Prior to or concurrently with the issuance of Global Units of any series of which Debt Securities and
Purchase Contracts constitute a part, the initial Holders and the Agent shall cause the Debt Securities constituting a part of such Global Units to be delivered to the Collateral Agent, and, if specified pursuant to Section 3.02, accompanied by an
instrument of transfer executed in blank, and the Corporation shall notify the Collateral Agent of the Pledge and receipt of such notification shall constitute acknowledgment by the Collateral Agent (as third party in possession or otherwise) of the
Pledge and its holding of the Collateral subject to the Pledge, in each case for purposes of perfecting the Pledge under applicable law. Subject to the Pledge, the Holders from time to time of the Units of which the Debt Securities constitute a part
shall have full beneficial ownership of such Debt Securities. 
 
(c) The Collateral Agent shall have all of the rights, remedies and recourse with respect to the Collateral afforded a secured party by the Uniform Commercial Code as in effect in the State of New York (whether or not said Code is in
effect in the jurisdiction where the rights and remedies are asserted), in addition to, and not in limitation of, the other rights, remedies and recourse afforded to the Collateral Agent by this Agreement. 
 
(d) Each Holder, to the extent permitted by applicable law, by
accepting Units of any series issued hereunder authorizes the Collateral Agent to execute and file, in the name of such Holder, Uniform Commercial Code financing or continuation statements (which may be carbon, photographic, photostatic or other
reproductions of this Agreement or of a financing statement relating to this Agreement) which the Collateral Agent in its sole discretion (but subject to Section 5.03(f)) may deem necessary or appropriate to further perfect, or maintain the
perfection of the security interests granted hereby. 
 
SECTION 5.02. Distribution of Principal and Interest; Release of Collateral. Unless otherwise specified pursuant to Section 2.03: 
 
(a) All payments of principal of, or interest on, any Pledged Items received by the Collateral Agent pursuant to Section 3.06 (f) shall be
paid by the Collateral Agent in same day funds no later than 2:00 p.m., New York City time, on the Business Day such payments are received by the Collateral Agent or, if received on a day that is not a Business Day or after 12:00 noon, New York City
time, on a Business Day, then such payment shall be made no later than 9:00 am., New York City time, on the next succeeding Business Day to the Corporation, in full satisfaction of the respective obligations of the Holders of the Units 
 

33 








 
of which such Pledged Items
are a part under the Purchase Contracts forming a part of such Units. Any such payments in excess of such obligations of the Holders shall be promptly paid to the Agent to the account designated by it for such purpose. All such payments received by
the Agent as provided herein shall be applied by the Agent pursuant to the provisions hereof. 
 
(b) Upon notice to the Collateral Agent by the Agent that one or more Holders of Units have elected to effect Cash Settlement of their respective obligations under the Purchase Contracts forming a part
of such Units in accordance with the terms hereof, and that either the Agent has received from such Holders, and paid to the Corporation, the related amounts pursuant to the terms of the Purchase Contracts and this Agreement or no such payment is
required, and that all other conditions to such Cash Settlement have been satisfied, then the Collateral Agent shall release from the Pledge the Pledged Items relating to such Purchase Contracts. 
 
SECTION 5.03. Certain Duties and Responsibilities of the
Collateral Agent. The Collateral Agent accepts its duties and responsibilities hereunder as agent for the Corporation, on and subject to the following terms and conditions: 
 
(a) The Collateral Agent undertakes to perform such duties and only such duties as are specifically set forth
in this Agreement. No provision of this Agreement shall be construed to relieve the Collateral Agent from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 
 
(i) the duties and obligations of the
Collateral Agent with respect to the Units shall be determined solely by the express provisions of this Agreement and the Collateral Agent shall not be liable except for the performance of such duties and obligations as are specifically set forth in
this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Collateral Agent; and 
 
(ii) in the absence of bad faith on its part, the Collateral Agent may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Collateral Agent and conforming to the requirements of this Agreement, but in the case of any such statements,
certificates or opinions that by any provision hereof are specifically required to be furnished to the Collateral Agent, the Collateral Agent shall be under a duty to examine the same to determine whether or not they conform to the requirements of
this Agreement. 
 
(b) The Collateral Agent shall
not be liable for any error of judgment made in good faith by a Responsible Officer of the Collateral Agent, unless it shall be proved that the Collateral Agent was negligent in ascertaining the pertinent facts. 
 

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(c) No
provision of this Agreement shall require the Collateral Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it
shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 
(d) Whether or not therein expressly so provided, every provision of this Agreement relating to the conduct or affecting the liability of
or affording protection to the Collateral Agent shall be subject to the provisions of this Section. 
 
(e) The Collateral Agent is acting solely as agent for the Corporation hereunder and owes no fiduciary duties to any Person by virtue of
this Agreement. 
 
(f) Except as specifically
provided herein, the Collateral Agent shall not be responsible for the validity, sufficiency, collectibility or marketability of any Collateral given to or held by it hereunder or for the validity or sufficiency of the lien on the Collateral
purported to be created hereby and shall have no obligation to file any financing or continuation statement with respect to the Collateral in any public office at any time or time. 
 
SECTION 5.04. Knowledge of the Collateral Agent. The Collateral Agent shall not be deemed to have knowledge
of any default by any person under any Purchase Contract, unless and until a Responsible Officer of the Collateral Agent assigned to its Corporate Trustee Administration Department shall have actual knowledge thereof or shall have received written
notice thereof from the Corporation or any Holder. 
 
SECTION 5.05. Certain Rights of Collateral Agent. Subject to the provisions of Section 5.03: 
 
(a) the Collateral Agent may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties;

 
(b) any request, direction, order or demand of
the Corporation mentioned herein shall be sufficiently evidenced by an Officers’ Certificate, Issuer Order or Issuer Request, and any resolution of the Board of Directors of the Corporation, as the case may be, may be sufficiently evidenced by
a Board Resolution; 
 
(c) the Collateral Agent may
consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection with respect to any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon
in accordance with such advice or Opinion of Counsel; 
 
(d) the Collateral Agent shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, 
 

35 








 
report, notice, request,
consent, order, approval, appraisal, bond, debenture, note, coupon, security or other paper or document; 
 
(e) the Collateral Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and the Collateral Agent shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder; and 
 
(f) the Collateral Agent shall not be liable for any action taken or omitted by it in good faith and believed
by it to be authorized or within the discretion, rights or powers conferred upon it by this Agreement. 
 
SECTION 5.06. Compensation and Reimbursements. The Corporation agrees: 
 
(a) to pay to the Collateral Agent from time to time reasonable compensation for all services rendered by it
hereunder (which compensation shall not be limited by any provision of law with regard to the compensation of a trustee of an express trust), 
 
(b) except as otherwise expressly provided herein, to reimburse the Collateral Agent and any predecessor Collateral Agent upon its request
for all reasonable expenses, disbursements and advances incurred or made by the Collateral Agent in accordance with any provision of this Agreement (including the reasonable compensation and the expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 
 
(c) to indemnify the Collateral Agent and any predecessor Collateral Agent for, and to hold it harmless against, any loss, liability or
expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this Agreement and its duties hereunder, including the costs and expenses of defending itself against or
investigating any claim of liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 
The obligations of the Corporation under this Section to compensate and indemnify the Collateral Agent and any predecessor Collateral
Agent and to pay or reimburse the Collateral Agent and any predecessor Collateral Agent for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the resignation or removal of such Collateral Agent
or predecessor Collateral Agent or the termination hereof or of any Purchase Contract. Such additional indebtedness shall be a senior claim to that of the Units upon all property and funds held or collected by the Collateral Agent as such, except
funds held in trust for the benefit of the Holders of Units, and the Units are hereby subordinated to such senior claim. 
 
SECTION 5.07. Corporate Collateral Agent Required Eligibility. There shall at all times be a Collateral Agent hereunder which shall be a
corporation organized and doing 
 

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business under the laws of the
United States of America, any State thereof or the District of Columbia, having, together with its parent, a combined capital and surplus of at least $50,000,000, subject to supervision or examination by Federal, State or District of Columbia
authority and willing to act on reasonable terms. If such corporation, or its parent, publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes
of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. [**The Collateral Agent hereunder shall at all times be
the Agent hereunder and the Trustee and a Paying Agent under the Indenture, subject to receipt of an Opinion of Counsel that the same Person is not precluded by law from acting in such capacities.] If at any time the Collateral Agent shall cease to
be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. The Collateral Agent may appoint one or more sub-collateral agents with offices or
agencies in a city or cities outside the United States. 
 
SECTION 5.08. Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Collateral Agent and no appointment of a successor Collateral Agent pursuant to this Article shall become effective until the
acceptance of appointment by the successor Collateral Agent in accordance with the applicable requirements of Section 5.09. 
 
(b) The Collateral Agent may resign by giving written notice thereof to the Corporation and the Holders, in accordance with Section 11.05
and Section 11.06, 60 days prior to the effective date of such resignation. The Collateral Agent may be removed at any time upon 60 days’ notice by the filing with it of an instrument in writing signed on behalf of the Corporation and
specifying such removal and the date when it is intended to become effective. If the instrument of acceptance by a successor Collateral Agent required by Section 5.09 shall not have been delivered to the Collateral Agent within 30 days after the
giving of such notice of resignation, the resigning Collateral Agent may petition any court of competent jurisdiction for the appointment of a successor Collateral Agent. 
 
(c) If at any time 
 
(i) the Collateral Agent shall cease to be eligible under Section 5.07, [**or shall cease to be eligible as Agent
hereunder or as Trustee under the Indenture] and shall fail to resign after written request therefor by the Corporation, or 
 
(ii) the Collateral Agent shall become incapable of acting with respect to the Collateral or shall be adjudged a bankrupt
or insolvent, or a receiver or liquidator of the Collateral Agent or of its property shall be appointed or any public officer shall take charge or control of the Collateral Agent or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, the Corporation, by Board 
 

37 








 
Resolution,
may remove the Collateral Agent and appoint a successor Collateral Agent. 
 
(d) If the Collateral Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Collateral Agent for any cause, the Corporation, by Board Resolution, shall promptly appoint a
successor Collateral Agent or Collateral Agents (other than the Corporation) and shall comply with the applicable requirements of Section 5.09. 
 
(e) The Corporation shall give, or shall cause such successor Collateral Agent to give, notice of each resignation and each removal of the
Collateral Agent and each appointment of a successor Collateral Agent to all Holders of Units in accordance with Section 11.06. Each notice shall include the name of the successor Collateral Agent and the address of its Corporate Trust Office.

 
SECTION 5.09. Acceptance of Appointment by
Successor. (a) In case of the appointment hereunder of a successor Collateral Agent, every such successor Collateral Agent so appointed shall execute, acknowledge and deliver to the Corporation and to the retiring Collateral Agent an instrument
accepting such appointment, and thereupon the resignation or removal of the retiring Collateral Agent shall become effective and such successor Collateral Agent, without any further act, deed or conveyance, shall become vested with all the rights,
powers, agencies and duties of the retiring Collateral Agent, with like effect as if originally named as Collateral Agent hereunder; but, on the request of the Corporation or the successor Collateral Agent, such retiring Collateral Agent shall, upon
payment of all amounts due and payable to it pursuant to Section 5.06, execute and deliver an instrument transferring to such successor Collateral Agent all the rights and powers of the retiring Collateral Agent and shall duly assign, transfer and
deliver to such successor Collateral Agent all property and money held by such retiring Collateral Agent hereunder. Any retiring Collateral Agent shall, nonetheless, retain a prior claim upon all property or funds held or collected by such
Collateral Agent to secure any amounts then due it pursuant to Section 5.06. 
 
(b) Upon request of any such successor Collateral Agent, the Corporation shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Collateral Agent
all such rights, powers and agencies referred to in paragraph (a) of this Section. 
 
(c) No successor Collateral Agent shall accept its appointment unless at the time of such acceptance such successor Collateral Agent shall be eligible under this Article. 
 
(d) Upon acceptance of appointment by any successor Collateral
Agent as provided in this Section, the Corporation shall give notice thereof to the Holders of Units in accordance with Section 11.06. If the acceptance of appointment is substantially contemporaneous with the resignation of the Collateral Agent,
then the notice called for by the preceding sentence may be combined with the notice called for by Section 5.08. If the Corporation fails to give such notice within ten days after acceptance of appointment by the 
 

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successor Collateral Agent,
the successor Collateral Agent shall cause such notice to be given at the expense of the Corporation. 
 
SECTION 5.10. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Collateral Agent may be merged
or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Collateral Agent shall be a party, or any corporation succeeding to all or substantially all the agency
business of the Collateral Agent, shall be the successor of the Collateral Agent hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such corporation shall be otherwise
eligible under this Article. 
 
SECTION 5.11. Money
Held in Trust. Money held by the Collateral Agent in trust hereunder need not be segregated from other funds held by the Collateral Agent, except to the extent required by law. The Collateral Agent shall be under no obligation to invest or pay
interest on any money received by it hereunder, except as otherwise agreed with the Corporation. Any interest accrued on funds deposited with the Collateral Agent or any Paying Agent under this Agreement shall be paid to the Corporation from time to
time and the Holders of Units (whether or not any Purchase Contracts are to be redeemed with such funds) shall have no claim to any such interest. 
 
 
ARTICLE 6 
THE AGENT 
 
SECTION 6.01. Certain Duties and Responsibilities. (a) The Agent undertakes to perform such duties and only such duties as are
specifically set forth in this Agreement. 
 
(b) No
provision of this Agreement shall be construed to relieve the Agent from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 
 
(i) the duties and obligations of the Agent
with respect to the Units shall be determined solely by the express provisions of this Agreement and the Agent shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Agreement, and no
implied covenants or obligations shall be read into this Agreement against the Agent; and 
 
(ii) in the absence of bad faith on its part, the Agent may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Agent and conforming to the requirements of this Agreement, but in the case of any such statements, certificates or opinions that by any
provision hereof are specifically required to be furnished to the Agent, the 
 

39 








 
Agent shall
be under a duty to examine the same to determine whether or not they conform to the requirements of this Agreement. 
 
(c) The Agent shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Agent, unless it shall be
proved that the Agent was negligent in ascertaining the pertinent facts. 
 
(d) The Agent shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in number of affected Outstanding Purchase Contracts
relating to the time, method and place of conducting any proceeding for any remedy available to the Agent, or exercising any power conferred upon the Agent, under this Agreement. 
 
(e) No provision of this Agreement shall require the Agent to expend or risk its own funds or otherwise incur
any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it. 
 
(f)
Whether or not therein expressly so provided, every provision of this Agreement relating to the conduct or affecting the liability of or affording protection to the Agent shall be subject to the provisions of this Section. 
 
(g) The Agent is acting solely as agent for the Corporation
hereunder and owes no fiduciary duties to any person by virtue of this Agreement. 
 
SECTION 6.02. Notice of Default. Within 90 days after the occurrence of any Purchase Contract Default of which a Responsible Officer of the Agent assigned to its Corporate Trustee Administration
Department has actual knowledge (and except with respect to a Purchase Contract Default under the Purchase Contracts existing on the Settlement Date, in which event, as promptly as practicable thereafter) the Agent shall provide to all Holders of
Units, in the manner provided in Section 11.06, notice of such Purchase Contract Default hereunder, unless such Purchase Contract Default shall have been cured or waived. 
 
SECTION 6.03. Certain Rights of Agent. Subject to the provisions of Section 6.01: 
 
(a) the Agent may rely and shall be protected in acting or
refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon, security or other paper or document believed by it to be genuine and to have
been signed or presented by the proper party or parties; 
 
(b) any request, direction, order or demand of the Corporation mentioned herein shall be sufficiently evidenced by an Officers’ Certificate or Issuer Order or Issuer 
 

40 








 
Request and any resolution of
the Board of Directors of the Corporation, as the case may be, may be sufficiently evidenced by a Board Resolution; 
 
(c) the Agent may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection with respect to any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon in accordance with such advice or opinion of Counsel; 
 
(d) the Agent shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture, note, coupon, security or other paper or document, but the Agent, in its
discretion, may make reasonable further inquiry or investigation into such facts or matters related to the issuance of the Debt Securities and the execution, delivery and performance of the Purchase Contracts as it may see fit, and, if the Agent
shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Corporation, at reasonable times during normal business hours, personally or by agent or attorney; 
 
(e) the Agent may execute any of the powers hereunder or
perform any duties hereunder either directly or by or through agents or attorneys and the Agent shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder;

 
(f) the Agent shall be under no obligation to
exercise any of the rights or powers vested in it by this Agreement at the request, order or direction of any of the Holders pursuant to this Agreement, unless such Holders shall have offered to the Agent reasonable security or indemnity against the
costs, expenses and liabilities that might be incurred by it in compliance with such request or direction; 
 
(g) the Agent shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or within the
discretion, rights or powers conferred upon it by this Agreement; and 
 
(h) the Agent shall not be charged with notice or knowledge of a Purchase Contract Default unless a Responsible Officer of the Agent assigned to its Corporate Trustee Administration Department shall have actual knowledge
thereof. 
 
SECTION 6.04. Not Responsible for
Recitals or Issuance of Units. The recitals contained herein, in the Indenture and in the Units, except the Trustee’s and Agent’s certificates of authentication or countersignature, shall be taken as the statements of the Corporation, and
none of the Trustee, Agent or any Authenticating Agent assumes any responsibility for their correctness. The Agent makes no representations as to the validity or sufficiency of this Agreement or of the Units. None of the Trustee, Agent or any
Authenticating Agent shall be accountable for the use or application by the Corporation of the proceeds with respect to Units or be responsible for exercising any remedy hereunder on behalf of the Holders, except as expressly provided in this
Agreement. 
 

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SECTION 6.05.
May Hold Units. The Agent, the Collateral Agent, the Trustee, any Authenticating Agent, any Purchase Contract Registrar or any other agent of the Corporation, the Trustee or the Agent, in its individual or any other capacity, may become the owner or
pledgee of Units and may otherwise deal with the Corporation and receive, collect, hold and retain collections from the Corporation with the same rights it would have if it were not Authenticating Agent, Purchase Contract Registrar or such other
agent, the Trustee, the Collateral Agent or the Agent. 
 
SECTION 6.06. Money Held in Trust. Money held by the Agent in trust hereunder need not be segregated from other funds held by the Agent, except to the extent required by law. The Agent shall be under no obligation to invest or pay
interest on any money received by it hereunder, except as otherwise agreed with the Corporation. Any interest accrued on funds deposited with the Agent or any Paying Agent under this Agreement shall be paid to the Corporation from time to time and
the Holders of Units (whether or not any Purchase Contracts are to be redeemed with such funds) shall have no claim to any such interest. 
 
SECTION 6.07. Compensation and Reimbursement. The Corporation agrees: 
 
(a) to pay to the Agent from time to time reasonable compensation for all services rendered by it hereunder
(which compensation shall not be limited by any provision of law with regard to the compensation of a trustee of an express trust); 
 
(b) except as otherwise expressly provided herein, to reimburse the Agent and any predecessor Agent upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Agent in accordance with any provision of this Agreement (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense,
disbursement or advance as may be attributable to its negligence or bad faith; and 
 
(c) to indemnify the Agent and any predecessor Agent for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in
connection with the acceptance or administration of this Agreement and its duties hereunder, including the costs and expenses of defending itself against or investigating any claim of liability in connection with the exercise or performance of any
of its powers or duties hereunder. 
 
The
obligations of the Corporation under this Section to compensate and indemnify the Agent and any predecessor Agent and to pay or reimburse the Agent and any predecessor Agent for expenses, disbursements and advances shall constitute additional
indebtedness hereunder and shall survive the resignation or removal of such Agent or predecessor Agent or the termination hereof or any Purchase Contract. Such additional indebtedness shall be a senior claim to that of the Units upon all property
and funds held or collected by the Agent as such, except funds held in trust for the benefit of the Holders of particular Units, and the Units are hereby subordinated to such senior claim. 
 

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SECTION 6.08.
Corporate Agent Required: Eligibility. There shall at all times be an Agent hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, having,
together with its parent, a combined capital and surplus of at least $50,000,000, subject to supervision or examination by Federal, State or District of Columbia authority and willing to act on reasonable terms. If such corporation, or its parent,
publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed
to be its combined capital and surplus as set forth in its most recent report of condition so published. [**The Agent hereunder shall at all times be the Collateral Agent hereunder and the Trustee under the Indenture, subject to receipt of an
Opinion of Counsel that the same Person is not precluded by law from acting in such capacities.] If at any time the Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and
with the effect hereinafter specified in this Article. The Agent may appoint one or more sub-agents with offices or agencies in a city or cities outside the United States. 
 
SECTION 6.09. Resignation and Removal: Appointment of Successor. (a) No resignation or removal of the Agent
and no appointment of a successor Agent pursuant to this Article shall become effective until the acceptance of appointment by the successor Agent in accordance with the applicable requirements of Section 6.10. 
 
(b) The Agent may resign by giving written notice thereof to
the Corporation and the Holders, in accordance with Section 11.05 and Section 11.06, 60 days prior to the effective date of such resignation. The Agent may be removed at any time upon 60 days’ notice by the filing with it of an instrument in
writing signed on behalf of the Corporation and specifying such removal and the date when it is intended to become effective. If the instrument of acceptance by a successor Agent required by Section 6.10 shall not have been delivered to the Agent
within 30 days after the giving of such notice of resignation, the resigning Agent may petition any court of competent jurisdiction for the appointment of a successor Agent. 
 
(c) If at any time 
 
(i) the Agent shall cease to be eligible under Section 6.08, [**or shall cease to be eligible as Collateral Agent
hereunder or as Trustee under the Indenture,] and shall fail to resign after written request therefor by the Corporation or by any Holder, or 
 
(ii) the Agent shall become incapable of acting with respect to the Units or shall be adjudged a bankrupt or insolvent, or
a receiver or liquidator of the Agent or of its property shall be appointed or any public officer shall take charge or control of the Agent or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any
such case, (A) the Corporation, by Board Resolution, may remove the Agent and appoint a 
 

43 








 
successor
Agent, or (B) any Holder who has been a bona fide Holder of a Unit for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Agent and the appointment of
a successor Agent or Agents. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Agent and appoint a successor Agent. 
 
(d) If the Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the
office of Agent for any cause, the Corporation, by Board Resolution, shall promptly appoint a successor Agent or Agents (other than the Corporation) and shall comply with the applicable requirements of Section 6.10. If no successor Agent shall have
been so appointed by the Corporation and accepted appointment in the manner required by Section 6.10, any Holder who has been a bona fide Holder of a Unit for at least six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Agent. 
 
(e) The Corporation shall give, or shall cause such successor Agent to give, notice of each resignation and each removal of the Agent and each appointment of a successor Agent to all Holders of Units
in accordance with Section 11.06. Each notice shall include the name of the successor Agent and the address of its Corporate Trust Office. 
 
SECTION 6.10. Acceptance of Appointment by Successor. (a) In case of the appointment hereunder of a successor Agent, every such successor
Agent so appointed shall execute, acknowledge and deliver to the Corporation and to the retiring Agent an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Agent shall become effective and such successor
Agent, without any further act, deed or conveyance, shall become vested with all the rights, powers, agencies and duties of the retiring Agent, with like effect as if originally named as Agent hereunder; but, on the request of the Corporation or the
successor Agent, such retiring Agent shall, upon payment of all amounts due and payable to it pursuant to Section 6.07, execute and deliver an instrument transferring to such successor Agent all the rights and powers of the retiring Agent and shall
duly assign, transfer and deliver to such successor Agent all property and money held by such retiring Agent hereunder. Any retiring Agent shall, nonetheless, retain a prior claim upon all property or funds held or collected by such Agent to secure
any amounts then due it pursuant to Section 6.07. 
 
(b) Upon request of any such successor Agent, the Corporation shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Agent all such rights, powers and agencies referred to in
paragraph (a) of this Section. 
 
(c) No successor
Agent shall accept its appointment unless at the time of such acceptance such successor Agent shall be eligible under this Article. 
 
(d) Upon acceptance of appointment by any successor Agent as provided in this Section, the Corporation shall give notice thereof to the
Holders of Units in 
 

44 








 
accordance with Section 11.06.
If the acceptance of appointment is substantially contemporaneous with the resignation of the Agent, then the notice called for by the preceding sentence may be combined with the notice called for by Section 6.09. If the Corporation fails to give
such notice within ten days after acceptance of appointment by the successor Agent, the successor Agent shall cause such notice to be given at the expense of the Corporation. 
 
SECTION 6.11. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the
Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Agent shall be a party, or any corporation succeeding to all or substantially all the
agency business of the Agent, shall be the successor of the Agent hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such corporation shall be otherwise eligible under
this Article. In case any Purchase Contracts shall have been countersigned and executed, but not delivered, by the Agent then in office, any successor by merger, conversion or consolidation to such Agent may adopt such countersignature and execution
and deliver the Purchase Contracts so countersigned and executed with the same effect as if such successor Agent had itself countersigned and executed such Purchase Contracts. 
 
SECTION 6.12. Appointment of Authenticating Agent. At any time when any of the Units remain Outstanding the
Agent may, by an instrument in writing, appoint an Authenticating Agent or Agents with respect to the Purchase Contracts to be authorized to act on behalf of the Agent to countersign, execute and deliver the Purchase Contracts issued upon exchange,
registration of transfer or pursuant to Section 2.09 and Purchase Contracts so countersigned, executed and delivered shall be entitled to the benefits of this Agreement and shall be valid and obligatory for all purposes as if countersigned by the
Agent hereunder. Wherever reference is made in this Agreement to the countersignature, execution and delivery of Purchase Contracts by the Agent or the Agent’s countersignature or execution, such references shall be deemed to include
countersignature, execution and delivery on behalf of the Agent by an Authenticating Agent and a countersignature and execution executed on behalf of the Agent by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the
Corporation and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, subject to
supervision or examination by Federal or State or District of Columbia authority and having, together with its parent, a combined capital and surplus of not less than $50,000,000. If such Authenticating Agent, or its parent, publishes reports of
condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall
resign immediately in the manner and with the effect specified in this Section. The Agent may also 
 

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appoint one or more
Authenticating Agents with offices or agencies in a city or cities outside the United States. 
 
Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the agency business of an Authenticating Agent, shall continue to be an Authenticating Agent, without the execution or filing of any paper or any
further act on the part of the Agent or the Authenticating Agent, provided that such corporation shall be otherwise eligible under this Section. 
 
An Authenticating Agent may resign at any time by giving written notice thereof to the Agent and to the Corporation. The Agent may at any
time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Corporation. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Agent may appoint a successor Authenticating Agent which shall be acceptable to the Corporation and shall provide written notice of such
appointment to all Holders of Units in the manner and to the extent provided in Section 11.06. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. No Authenticating Agent shall have any
responsibility or liability for any action taken by it as such at the direction of the Agent. 
 
The provisions of Sections 2.10, 6.04 and 6.05 shall be applicable to each Authenticating Agent. 
 

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Pursuant to each appointment
made under this Section, the Purchase Contracts covered by such appointment may have endorsed thereon, in addition to the form of Agent’s countersignature and execution of the Purchase Contracts evidenced thereby, an alternative
countersignature and execution of the Purchase Contracts contained therein in the following forms: 
 
 

	  	  	  , as

	
	  	  
	  	  	  Agent, as attorney-in-fact of the Holder hereof
	  	  
	
	  By
	  	  [NAME OF AUTHENTICATING AGENT], as Authenticating Agent
	  	  
	
	  By:
	  	  	  	  
	  	  	

	  	  	  [Authorized Officer]
  Title:    
	  	  
	
	  Countersigned:
	  	  
	
	  	  	  , as

	
	  	  
	  	  	  Agent
	  	  
	
	  By
	  	  [NAME OF AUTHENTICATING AGENT], as Authenticating Agent
	  	  
	
	  By:
	  	  	  	  
	  	  	

	  	  	  [Authorized Officer]
  Title:    
	  	  


 
SECTION 6.13. Corporation to Furnish Agent Names and Addresses of Holders. The Corporation will furnish or cause to be furnished to the Agent 
 
(a) not later than 15 days after each Regular Record Date in each year, a list, in such form as the Agent may reasonably require, of the
names and addresses of the Holders of Registered Units as of such Regular Record Date, and 
 
(b) at such other times as the Agent may request in writing, within 30 days after the receipt by the Corporation of any such request, a list of similar form and content as of a date not more than 15
days prior to the time such list is furnished; provided that no such 
 

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list need be furnished if the
Agent shall be the Purchase Contract Registrar and the registrar under the Indenture. 
 
SECTION 6.14. Preservation of Information; Communications to Holders. (a) The Agent shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of Registered
Units contained in the most recent list furnished to the Agent as provided in Section 6.13 and the names and addresses of Holders of Registered Units received by the Agent in its capacity as Purchase Contract Registrar and the registrar under the
Indenture. The Agent may destroy any list furnished to it as provided in Section 6.13 upon receipt of a new list so furnished. 
 
(b) If three or more Holders (herein referred to as “applicants”) apply in writing to the Agent, and furnish to the Agent
reasonable proof that each such applicant has owned a Unit for a period of at least six months preceding the date of such application, and such application states that the applicants desire to communicate with other Holders with respect to their
rights under this Agreement or under the Units and is accompanied by a copy of the form of proxy or other communication that such applicants propose to transmit, then the Agent shall, within five Business Days after the receipt of such application,
at its election either (i) afford such applicants access to the information preserved at the time by the Agent in accordance with Section 6.14 (a) or (ii) inform such applicants as to the approximate number of Holders whose names and addresses
appear in the information preserved at the time by the Agent, and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 
 
If the Agent shall elect not to afford such applicants access
to such information, the Agent shall, upon the written request of such applicants, mail to each Holder whose name and address appears in the information preserved at the time by the Agent, a copy of the form of proxy or other communication that is
specified in such application, with reasonable promptness after a tender to the Agent of the material to be mailed and of payment, or provision for payment, of the reasonable expenses of mailing, unless within five days after such tender, the Agent
shall mail to such applicants a written statement to the effect that in the opinion of the Agent, such mailing would be contrary to the best interests of the Holders or would be in violation of applicable law. Thereafter, the Agent shall be relieved
of any obligation or duty to such applicants with respect to their application. 
 
(c) Every Holder of Units, by his acceptance thereof, agrees with the Corporation and the Agent that neither the Corporation nor the Agent nor any agent of any of them shall be held accountable by
reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Section 6.14(b), regardless of the source from which such information was derived, and that the Agent shall not be held accountable by
reason of mailing any material pursuant to a request made under Section 6.14(b). 
 
SECTION 6.15. No Obligation of Holder. Except to the extent otherwise provided in this Agreement, the Agent assumes no obligations and shall not be subject to any 
 

48 








 
liability under this Agreement
or any Purchase Contract with respect to the obligations of the Holder of a Unit thereunder. The Corporation agrees, and each Holder of a Unit Certificate, by his acceptance thereof, shall be deemed to have agreed, that the Agent’s execution of
the Purchase Contracts evidenced by the Unit Certificates shall be solely as agent and attorney-in-fact for the Holders, and that the Agent shall have no obligation to perform such Purchase Contracts on behalf of the Holders, except to the extent
provided in this Article. 
 
SECTION 6.16. Tax
Compliance. (a) The Agent, on its own behalf and on behalf of the Corporation, will comply with all applicable certification, information reporting and withholding (including “backup” withholding) requirements imposed by applicable United
States, federal and state tax laws, regulations or administrative practice (i) with respect to payments on, or transfer or redemption of the Debt Securities or the Purchase Contracts or (ii) if specifically instructed by the Corporation, with
respect to the issuance, delivery, holding, or exercise of rights (other than by payment, transfer or redemption) under the Debt Securities or the Purchase Contracts. Such compliance shall include, without limitation, the preparation and timely
filing of required returns with respect to, and the timely payment of, all amounts required to be withheld to the appropriate taxing authority or its designated agent. The Corporation will provide to the Agent such information as it may reasonably
request in order to comply with this Section. 
 
(b) The Agent shall comply with any direction received from the Corporation with respect to the application of such requirements to particular payments or holders or in other particular circumstances, and may for purposes of this
Agreement rely on any such direction in accordance with the provisions of Section 6.01(b)(ii) hereof. 
 
(c) The Agent shall maintain all appropriate records documenting compliance with such requirements, and shall make such records available
on request at reasonable times during normal business hours to the Corporation or to their authorized representatives duly authorized in writing. 
 
(d) Unless otherwise specified pursuant to Section 2.03, the portion of the issue price of any Units of any series consisting of Debt
Securities and Purchase Contracts allocable to such Debt Securities shall equal the principal amount payable at maturity of such Debt Securities. The Corporation and the Holders agree not to file any tax returns, or take a position with any tax
authority, that is inconsistent with the characterization of the Debt Securities as debt. 
 
(e) Unless otherwise specified pursuant to Section 2.03, the Corporation by the issuance and sale of any Unit and any Holder of a Unit by his acceptance thereof agree to (in the absence of any
applicable administrative ruling or judicial determination to the contrary) treat the Securities that constitute any Unit as separate securities and to file all United States federal, state and local tax returns consistent with the treatment of such
Unit as constituted by separate securities. 
 

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ARTICLE 7

SUPPLEMENTAL AGREEMENTS 
 
SECTION 7.01. Supplemental Agreements Without Consent of Holders. Without the consent of any Holders, the Corporation, when authorized by
a Board Resolution or Officers’ Certificate, the Agent and the Collateral Agent, at any time and from time to time, may enter into one or more agreements supplemental hereto, in form satisfactory to the Agent, for any of the following purposes:

 
(i) to evidence the succession
of another Person to the Corporation and the assumption by any such successor of the covenants of the Corporation herein and in the Purchase Contracts; or 
 
(ii) to evidence and provide for the acceptance of appointment hereunder by a successor Agent or Collateral Agent with
respect to the Units; or 
 
(iii)
to add to the covenants of the Corporation, Collateral Agent or Agent such further covenants, restrictions, conditions or provisions as the Corporation, Collateral Agent and Agent shall consider to be for the protection of the Holders, and to make
the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions, conditions or provisions of the Corporation a Purchase Contract Default permitting the enforcement of all or any of the several remedies
provided in this Agreement as herein set forth; provided that in respect of any such additional covenant, restriction, condition or provision such supplemental agreement may provide for a particular period of grace after default (which period may be
shorter or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon such a Purchase Contract Default or may limit the remedies available to the Holders upon such a Purchase Contract Default or may
limit the right of the Holders to waive such Purchase Default; or 
 
(iv) to establish the form or terms of Units of any series as permitted by Sections 2.02 and 2.03 and/or to establish the form or terms of Purchase Contracts of any series as permitted by Sections 3.01
and 3.02; 
 
(v) to comply with the
Securities Act of 1933, as amended, the Exchange Act or the Investment Company Act of 1940, as amended; 
 
(vi) to cure any ambiguity, to correct or supplement any provision herein or in the Purchase Contracts of any series that
may be inconsistent with any other provision herein or therein, or to modify, alter, amend or supplement any other provisions with respect to matters or questions arising under this Agreement or under such Purchase Contracts; provided that such
action shall not adversely affect the interests of the Holders in any material respect; or 
 
(vii) to change or eliminate any of the provisions of this Agreement, provided that any such change or elimination (a)
shall become effective only when there is no Outstanding Unit, Debt Security or Purchase Contract of any series created prior to the 
 

50 








 
execution of such supplemental
agreement which is entitled to the benefit of such provisions or (b) shall not apply to any Unit, Debt Security or Purchase Contract Outstanding. 
 
SECTION 7.02. Supplemental Agreements with Consent of Holders. With the consent of the Holders of not less than a majority of all
Unsettled Purchase Contracts constituting a part of any series of Units Outstanding, in the case of clause (A) below, and with the consent of the Holders of not less than a majority of all Units Outstanding, in the case of clause (B) below, by Act
of said Holders delivered to the Corporation and the Agent, the Corporation, when authorized by a Board Resolution or Officers’ Certificate, the Agent and the Collateral Agent may enter into an agreement or agreements supplemental hereto for
the purpose of (A) modifying in any manner the terms of the Purchase Contracts or this Agreement with respect to the Purchase Contracts or the rights of the Holders of Units with respect to the Purchase Contracts or (B) modifying in any manner the
other terms of this Agreement or the other rights of Holders of Units; provided, however, that no such supplemental agreement shall (i) without the consent of the Holder of each Outstanding Purchase Contract affected thereby in the case of clauses
(1), (2) and (3) below and (ii) without the consent of the Holder of each Unit affected thereby, in the case of clauses (4) and (5) below: 
 
(1) impair the right to institute suit for the enforcement of any Purchase Contract, or 
 
(2) reduce the percentage of the Purchase
Contracts constituting a part of any series of Units Outstanding, the consent of whose Holders is required for any modification or amendment of the provisions of this Agreement relating to the Purchase Contracts or for any waiver of any Purchase
Contract Defaults hereunder and their consequences provided for in this Agreement relating to the Purchase Contracts, or 
 
(3) modify or affect (in any manner materially adverse to the Holders) the Holders’ rights and obligations under the
Purchase Contracts; or 
 
(4)
modify or affect (in any manner materially adverse to the Holders) the terms of this Agreement or such Holder’s Units (other than the terms referred to in clause (1), (2) or (3) above); or 
 
(5) reduce the percentage of Holders of Units
whose consent is required for any modification or amendment of the provisions of this Agreement (other than the terms referred to in clause (1), (2) or (3) above). 
 
It shall not be necessary for any Act of Holders under this Section to approve the particular form of any
proposed supplemental agreement, but it shall be sufficient if such Act shall approve the substance thereof. 
 
SECTION 7.03. Execution of Supplemental Agreements. In exchange for accepting the additional agencies or duties created by, any
supplemental agreement permitted 
 

51 








 
by this Article or the
modifications thereby of the agencies or duties created by this Agreement, each of the Agent and the Collateral Agent shall be entitled to receive and (subject to Sections 6.01 and 5.03, respectively) shall be fully protected in relying upon, an
opinion of Counsel stating that the execution of such supplemental agreement is authorized or permitted by this Agreement. Each of the Agent and the Collateral Agent may, but shall not be obligated to, enter into any such supplemental agreement that
affects the Agent’s or the Collateral Agent’s rights, duties or immunities under this Agreement or otherwise. 
 
SECTION 7.04. Effect of Supplemental Agreements. Upon the execution of any supplemental agreement under this Article, this Agreement shall
be modified in accordance therewith, and such supplemental agreement shall form a part of this Agreement for all purposes; and every Holder of Units, theretofore or thereafter authenticated, countersigned, executed and delivered hereunder and/or
under the Indenture shall be bound thereby. 
 
SECTION 7.05. Reference to Supplemental Agreements. Unit Certificates, Debt Securities and Purchase Contracts authenticated, countersigned, executed and delivered after the execution of any supplemental agreement pursuant to this
Article may, and shall if required by the Agent, bear a notation in form approved by the Agent as to any matter provided for in such supplemental agreement. If the Corporation shall so determine, new Unit Certificates, Debt Securities and Purchase
Contracts so modified as to conform, in the opinion of the Agent, and the Corporation, to any such supplemental agreement may be prepared and executed by the Corporation and authenticated, executed, countersigned and delivered by the Trustee and the
Agent, as applicable, in exchange for Outstanding Unit Certificates, Debt Securities and Purchase Contracts. 
 
 
ARTICLE 8 
CONSOLIDATION, MERGER, SALE OR CONVEYANCE 
 
SECTION 8.01. Covenant Not to Merge, Consolidate, Sell or Convey Property Except Under Certain Conditions. The Corporation covenants that it will not merge or consolidate with any other corporation or sell, convey or lease
all or substantially all of its assets to any Person, firm or corporation, except that the Corporation may merge or consolidate with, or sell, convey or lease all or substantially all of its assets to, any other corporation, provided that (i) the
Corporation shall be the continuing corporation, or the successor corporation (if other than the Corporation) shall be a corporation organized and existing under the laws of the United States of America or a state thereof or the District of Columbia
and such corporation shall assume the due and punctual performance and observance of all of the covenants and conditions of this Agreement to be performed by the Corporation by supplemental agreement in form satisfactory to the Agent and the
Collateral Agent, executed and delivered to the Agent and the Collateral Agent by such corporation, and (ii) neither the Corporation nor such successor corporation immediately after such merger or consolidation, or such sale, conveyance or lease
shall be in default in the performance of any such covenant or condition. 
 

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SECTION 8.02.
Rights and Duties of Successor Corporation. In case of any such consolidation, merger, sale or conveyance and upon any such assumption by the successor corporation, such successor corporation shall succeed to and be substituted for the Corporation
with the same effect as if it had been named herein as the Corporation. Such successor corporation thereupon may cause to be signed, and may issue (subject to the provisions of the Indenture) either in its own name or in the name of Wells Fargo
& Company any or all of the Unit Certificates, Debt Securities and Purchase Contracts issuable hereunder which theretofore shall not have been signed by the Corporation and delivered to the Agent; and, upon the order of such successor
corporation, instead of the Corporation, and subject to all the terms, conditions and limitations in this Agreement prescribed, the Trustee and the Agent shall authenticate, countersign, execute and deliver, as applicable, any Unit Certificates,
Debt Securities and Purchase Contracts that previously shall have been signed and delivered by the officers of the Corporation to the Trustee and the Agent for authentication, execution and countersignature, and any Unit Certificates, Debt
Securities and Purchase Contracts evidencing Units which such successor corporation thereafter shall cause to be signed and delivered to the Trustee and the Agent for such purpose. All the Purchase Contracts so issued shall in all respects have the
same legal rank and benefit under this Agreement as the Purchase Contracts theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Purchase Contracts had been issued at the date of the execution hereof.

 
In case of any such consolidation, merger, sale,
conveyance or lease such change in phraseology and form (but not in substance) may be made in the Unit Certificates and Purchase Contracts thereafter to be issued as may be appropriate. 
 
SECTION 8.03. Opinion of Counsel to Agent. The Agent and the Collateral Agent, subject to Sections 6.01 and
6.03 and Sections 5.03 and 5.05, respectively, may receive an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance or lease, and any such assumption, complies with the provisions of this Article.

 
 
ARTICLE 9 
COVENANTS 
 
SECTION 9.01. Performance under Purchase Contracts. The
Corporation covenants and agrees for the benefit of the Holders of the Units that it will duly and punctually perform its obligations under the Purchase Contracts in accordance with the terms of the Purchase Contracts and this Agreement.

 
SECTION 9.02. Maintenance of Office or Agency.
So long as Units or Purchase Contracts are authorized for issuance pursuant to this Agreement or are Outstanding hereunder, the Corporation will maintain in the City of Minneapolis, an office or agency where Registered Units may be presented or
surrendered for payment or acquisition of Purchase Contract Property or where Purchase Contract Property or other property may be tendered for delivery, where Registered Units may be surrendered for registration of transfer 
 

53 








 
or exchange and where notices
and demands to or upon the Corporation in respect of Units and this Agreement may be served. The Corporation hereby initially designates Wells Fargo Bank Minnesota, N.A. as its office or agency in the City of Minneapolis, for each of said purposes.
The Corporation will give prompt written notice to the Agent of the location, and any change in the location, of such office or agency. The Corporation will maintain one or more offices or agencies in a city or cities located outside the United
States (including any city in which such an agency is required to be maintained under the rules of any stock exchange on which the Units of such series, or the Securities constituting such Units, are listed) where the Unregistered Units, if any, of
each series may be presented or surrendered for payment or acquisition of Purchase Contract Property or where Purchase Contract Property or other property may be tendered for delivery. No payment or delivery of Purchase Contract Property on any
Unregistered Unit will be made upon presentation of such Unregistered Unit at an agency of the Corporation within the United States nor will any payment or delivery of Purchase Contract Property be made by transfer to an account in, or by mail to an
address in, the United States unless pursuant to applicable United States laws and regulations then in effect such payment can be made without adverse tax consequences to the Corporation. Notwithstanding the foregoing, payments in U.S. dollars of
Unregistered Units of any series appertaining thereto which are payable in Dollars may be made at an agency of the Corporation maintained in the City of Minneapolis if such payment in dollars at each agency maintained by the Corporation outside the
United States for payment on such Unregistered Units is illegal or is effectively precluded by exchange controls or other similar restrictions. If at any time the Corporation shall fail to maintain any such required office or agency or shall fail to
furnish the Agent with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Agent, and the Corporation hereby appoints the Agent as its agent to receive all such
presentations, surrenders, notices and demands. 
 
The Corporation may also from time to time designate one or more other offices or agencies where Debt Securities, Purchase Contracts and Unit Certificates may be presented or surrendered for any or all such purposes and may from time
to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Corporation of its obligations to maintain offices or agencies provided for in this Section. The Corporation will give
prompt written notice to the Agent of any such designation or rescission and of any change in the location of any such other office or agency. 
 
SECTION 9.03. Money for Payments to Be Held in Trust. Any money or other property deposited with the Agent, in trust for payment with
respect to any Unit, remaining unclaimed for two years after such payment has become due and payable shall be paid to the Corporation on request of the Corporation pursuant to an Officers’ Certificate; and the Holder of such Unit shall
thereafter, as an unsecured general creditor, look only to the Corporation for payment thereof, and all liability of the Agent with respect to such trust money or other property shall thereupon cease. 
 

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In the event
that (i) the Corporation has delivered Purchase Contract Property (or the cash value thereof) to the Agent against tender of payment for such Purchase Contract Property (or, in the case of Purchase Contracts calling for the purchase of Purchase
Contract Property by the Corporation, the Corporation has tendered payment) and (ii) a Holder of a Unit Certificate fails to present and surrender the appropriate Unit Certificate to the Agent, the Purchase Contract Property or the cash value
thereof or the Corporation’s payment for Purchase Contract Property deliverable upon settlement of the Purchase Contracts or evidenced by such Unit Certificate, together with any distributions thereon (and, if an effective Cash Settlement with
respect to the obligations under such Purchase Contracts has been made, payments in respect of principal of any Debt Securities that are part of such Units), shall be held by the Agent, in trust, for the benefit of such Holder, until such Unit
Certificate is presented and surrendered or such Holder delivers to the Agent, the Trustee, and the Corporation (A) evidence to their satisfaction that such certificate has been destroyed, lost or stolen and (B) such security or indemnity as may be
required by them to hold each of them and any agent of any of them harmless. In the event such Unit Certificate is not presented and surrendered or such Holder does not satisfy the applicable conditions specified in the preceding sentence on or
prior to the date two years after the date of settlement of the related Purchase Contract any distributions received by the Agent with respect to the Purchase Contract Property delivered in respect of the Unit Certificates shall be paid to the
Corporation, on the request of the Corporation pursuant to an Officers’ Certificate, and the Holders of such Unit shall thereafter, as unsecured general creditors, look only to the Corporation for payment thereof and all liability of the Agent
with respect to such trust assets shall thereafter cease. 
 
SECTION 9.04. Statements of Officers of the Corporation as to Default. The Corporation will deliver to the Agent, on or before
                         in each year, an Officers’ Certificate stating whether or not to the best knowledge of the
signers thereof the Corporation is in default in the performance and observance of any of the terms, provisions and conditions hereof or of any Purchase Contracts, and, if the Corporation shall be in default, specifying all such defaults and the
nature and status thereof of which they may have knowledge. 
 
 
ARTICLE 10 
REDEMPTIONS 
 
SECTION 10.01.
Optional Redemption of Purchase Contracts; Redemption Upon Redemption of Debt Securities. If this Article is specified as applicable pursuant to Section 3.02 in connection with the issuance of the Purchase Contracts of a series, any or all of such
Purchase Contracts may be redeemed at the option of the Corporation, or from time to time in part, on such date or dates and at a redemption price per Purchase Contract as shall be specified pursuant to Section 3.02; provided that no redemption
shall result in there being more than zero but fewer than the minimum amount of Unsettled Purchase Contracts that may remain Outstanding after such redemption, as specified pursuant to Section 3.02. 
 

55 








 
Unless
otherwise specified pursuant to Section 2.03, in the event that the Corporation shall redeem any Debt Security constituting part of a Unit of any series pursuant to the provisions of the Indenture or such Debt Security, the Corporation shall redeem
any Purchase Contract on the redemption date of such related Debt Security. 
 
SECTION 10.02. Notice of Redemption; Partial Redemptions. Unless otherwise specified pursuant to Section 3.02, the Corporation or, upon Issuer Order of the Corporation, the Agent in the name and at the
expense of the Corporation, shall give notice of redemption to the Holders of Purchase Contracts in the manner and to the extent provided in Section 11.06, at least 30 days and not more than 60 days prior to the date fixed for redemption. Any notice
which is given in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. Failure to give notice by mail, or any defect in the notice to the Holder of any Purchase Contract,
shall not affect the validity of the proceedings for the redemption of any other Purchase Contract. 
 
The notice of redemption to each Holder of Registered Purchase Contracts shall specify the number of Registered Purchase Contracts held by
such Holder to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment and that payment will be made upon presentation and surrender of Unit Certificates with respect to such Registered Purchase Contracts
evidenced by Unit Certificates. 
 
The
Corporation’s obligation to provide funds for redemption shall be deemed fulfilled if, on or before 12:00 noon, local time in the place of payment, on the redemption date specified in the notice of redemption given as provided in this Section,
the Corporation shall deposit with the Agent or with one or more paying agents an amount of money sufficient to redeem on the redemption date all the Purchase Contracts called for redemption at the appropriate redemption price, together with
irrevocable instructions and authorization that such funds be applied to the redemption of the Purchase Contracts called for redemption upon surrender of Unit Certificates representing such Purchase Contracts, properly endorsed and assigned for
transfer, in accordance with this Article. 
 
The
Corporation will deliver to the Agent at least 15 days prior to the mailing of the notice of redemption an Officers’ Certificate stating the aggregate number of Purchase Contracts to be redeemed on such date and that the Corporation has
complied with the provisions of Section 10.01 and of said Purchase Contracts subject to said redemption. 
 
If fewer than all the Purchase Contracts are to be redeemed, the Agent, prior to the mailing of the redemption notice, shall select the
Purchase Contracts to be redeemed on a pro rata basis, by lot or by such other means as shall be acceptable to the Agent. Appropriate adjustment shall be made to prevent the fractional redemption of Purchase Contracts, such that Purchase Contracts
are redeemed only in whole and not in part. 
 
The
Agent shall promptly notify the Corporation in writing of the Purchase Contracts so selected for redemption. 
 

56 








 
SECTION 10.03.
Payment of Purchase Contracts Called for Redemption. If notice of redemption has been given as above provided, (i) the Purchase Contracts specified in such notice shall become due and payable on the date and at the place stated in such notice at the
applicable redemption price, and (ii) on and after the date fixed for redemption (unless the Corporation shall default in the payment of such Purchase Contracts at the redemption price) such Purchase Contracts shall cease from and after the date
fixed for redemption to be entitled to any benefit under this Agreement, the Holders thereof shall have no right or obligation in respect of such Purchase Contracts except the right to receive the redemption price thereof and the Purchase Contracts
shall terminate and shall no longer be deemed to be Outstanding. 
 
If so specified pursuant to Section 3.02, on presentation and surrender of Unit Certificates representing such Purchase Contracts, properly endorsed and assigned for transfer, at a place of payment specified in said notice, said
Purchase Contracts shall be paid and redeemed by the Corporation at the applicable redemption price. Following such redemption, the Unit Certificates evidencing such Closed Purchase Contracts shall be cancelled in accordance with Section 2.11. In
the case of (i) Definitive Units, certificates evidencing any Outstanding Debt Securities relating to such redeemed Purchase Contracts shall be executed, authenticated and delivered in accordance with the terms of the Indenture and (ii) Global
Units, if a Global Debt Security not constituting part of a Global Unit has not previously been issued by the Corporation, a second Global Debenture evidencing any Outstanding Debt Security relating to such redeemed Purchase Contracts shall be
executed, authenticated and delivered in accordance with the Indenture. If a second Global Debt Security referred to in clause (ii) of the immediately preceding sentence has already been issued, the Agent shall note thereon an appropriate increase
in the number of Debt Securities represented by such Global Debt Security. 
 
Any interest accrued on funds deposited with the Agent or any Paying Agent in connection with this Article Ten shall be paid to the Corporation from time to time and the Holders of Purchase Contracts
(whether or not such Purchase Contracts are to be redeemed with such funds) shall have no claim to any such interest. Any funds deposited and unclaimed at the end of two years from any redemption date shall be repaid or released to the Corporation,
on the request of the Corporation pursuant to an Officers’ Certificate, after which the Holder(s) of Purchase Contracts so called for redemption shall look only to the Corporation for payment of the redemption price, without any interest
thereon and all liability of the Agent with respect to the redemption price shall cease. 
 
SECTION 10.04. Exclusion of Certain Purchase Contracts from Eligibility for Selection for Redemption. Purchase Contracts shall be excluded from eligibility for selection for a partial redemption if
they are identified by registration and certificate number in an Officers’ Certificate delivered by the Corporation to the Agent at least 10 days prior to the date of the mailing of a notice of redemption as being owned of record and
beneficially by, and not pledged or hypothecated by (a) the Corporation or (b) an Affiliate of the Corporation. Purchase Contracts shall also be excluded from eligibility for selection for a partial redemption if they are the subject of an
Acceleration Notice. 
 

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ARTICLE 11

MISCELLANEOUS PROVISIONS 
 
SECTION 11.01. Incorporators, Stockholders, Officers and Directors of the Corporation Immune from Liability. No recourse under or upon any
obligation, covenant or agreement contained in this Agreement, or in any Debt Security or any Purchase Contract, or because of any indebtedness evidenced thereby, shall be had against any incorporator, or against any past, present or future
stockholder, officer, attorney-in-fact or director, as such, of the Corporation or of any successor corporation, either directly or through the Corporation or any successor corporation, under any rule of law, statute or constitutional provision or
by the enforcement of any assessment or penalty or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Units by the Holders thereof and as part of the consideration for
the issue thereof, provided that nothing in this Article shall impair the obligations, covenants and agreements of the Corporation contained in this Agreement and in any Debt Securities or Purchase Contracts constituting a part of the Units of any
series. 
 
SECTION 11.02. Compliance Certificates
and Opinions. Except as otherwise expressly provided by this Agreement, upon any application or request by the Corporation to the Agent or Collateral Agent to take any action under any provision of this Agreement, the Corporation, as applicable,
shall furnish to the Agent or Collateral Agent an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Agreement relating to the proposed action have been complied with and an Opinion of Counsel stating
that, in the opinion of such counsel, all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision
of this Agreement relating to such particular application or request, no additional certificate or opinion need be furnished. 
 
Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Agreement shall include:

 
(i) a statement that each
individual signing such certificate or opinion has reached such covenant or condition and the definitions herein relating thereto; 
 
(ii) a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 
 
(iii) a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such
covenant or condition has been complied with; and 
 

58 








 
(iv) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 
SECTION 11.03. Form of Documents Delivered to Agent or Collateral Agent. In any case where several matters are required to be certified
by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person
may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 
Any certificate, statement or opinion of an officer or counsel
of or for the Corporation may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or
opinion or representations with respect to the matters upon which his certificate, statement or opinion is based are erroneous. Any such certificate, statement or opinion may be based, insofar as it relates to factual matters, upon a certificate,
statement or opinion of, or representations by, an officer or officers of the Corporation, as applicable, stating that the information with respect to such factual matters is in the possession of the Corporation, unless such counsel knows, or in the
exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 
Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Agreement, they may, but need not, be consolidated and form one instrument. 
 
SECTION 11.04. Acts of Holders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by
this Agreement to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments are delivered to the Agent and, where it is hereby expressly required, to the Corporation. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose
of this Agreement and (subject to Section 6.01) conclusive in favor of the Agent and the Corporation, if made in the manner provided in this Section. 
 
(b) The fact and date of the execution by any Person of any such instrument or writing may be proved in any manner that the Agent deems
sufficient. 
 
(c) Subject to Section 2.03(a)(vii),
the ownership (i) of Registered Units of any series shall be proved by the Purchase Contract Register for such series, with respect to any Purchase Contracts constituting a part of such Units and the Debt Security Register for 
 

59 








 
such series, with respect to
any Debt Securities constituting a part of such Units, and (ii) of Unregistered Units shall be proved by possession of the Unit Certificates evidencing such Units or by the appropriate records of the depositary for such units. 
 
(d) Any request, demand, authorization, direction, notice,
consent, waiver or other Act of the Holder of any Unit Certificate shall bind every future Holder of the same Unit Certificate and the Holder of every Unit Certificate issued upon the registration of transfer thereof or in exchange therefor or in
lieu thereof with respect to anything done, omitted or suffered to be done by the Agent or the Corporation in reliance thereon, whether or not notation of such action is made upon such Unit Certificate. 
 
(e) The Corporation may set a record date for purposes of
determining the identity of Holders of Units entitled to consent to any action by consent authorized or permitted hereby. Unless otherwise specified pursuant to Section 2.03, such record date shall be the later of 30 days prior to the first
solicitation of such consent or the date of the most recent list of Holders of Units furnished to the Agent, pursuant hereto. 
 
SECTION 11.05. Notices, Etc. Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document
provided or permitted by this Agreement to be made upon, given or furnished to, or filed with, 
 
(a) the Agent or the Collateral Agent, as the case may be, by any Holder or by the Corporation shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if made,
given, furnished or filed in writing and personally delivered or mailed, first-class postage prepaid, to the Agent at its Corporate Trust Office or at any other address previously furnished in writing by the Agent or the Collateral Agent, as the
case may be, to the Holders and the Corporation, or 
 
(b) the Corporation by the Agent, the Collateral Agent or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if made, given, furnished or filed in writing and personally
delivered or mailed, first-class postage prepaid, addressed to the Corporation at 420 Montgomery Street, San Francisco, California 94104, MAC # A0101-121, Attention: Chief Financial Officer, or at any other address previously furnished in writing to
the Agent and the Collateral Agent by the Corporation. 
 
SECTION 11.06. Notices to Holders; Waiver. Where this Agreement provides for notice to Holders of Registered Securities or Registered Units of any event, such notice shall be sufficiently given (unless otherwise herein expressly
provided or as provided in the Letter of Representations) if in writing and mailed, first-class postage prepaid, to each such Holder affected by such event, at such Holders address as it appears in the relevant Security Registers, with respect to
the Securities constituting such Unit, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice,
nor any defect in any notice so mailed to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Agreement provides for notice in any 
 

60 








 
manner, such notice may be
waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Agent, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such waiver. 
 
In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the
approval of the Agent shall constitute a sufficient notification for every purpose hereunder. 
 
Where this Agreement provides for notice to Holders of Unregistered Securities or Unregistered Units of any event, such notice shall be sufficiently given (unless otherwise specified herein or pursuant
to Section 2.03 or 3.02) by publication in a newspaper in the English language of general circulation in the Borough of Manhattan, The City of New York, and in The City of London or, if publication in London is not practical, in an English language
newspaper with general circulation in Western Europe. Such notices will be deemed to have been given on the date of such publication, or if published in such newspapers on different dates, on the date of the first such publication. 
 
SECTION 11.07. Effect of Headings and Table of Contents. The
Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 
SECTION 11.08. Successors and Assigns. All covenants and agreements in this Agreement, the Units, the Purchase Contracts and the Unit
Certificates by the Corporation shall bind its successors and assigns, whether so expressed or not. 
 
SECTION 11.09. Separability Clause. In case any provision in this Agreement or in the Units, Unit Certificates or the Purchase Contracts
shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof and thereof shall not in any way be affected or impaired thereby. 
 
SECTION 11.10. Benefits of Agreement. Nothing in this Agreement or in the Units, Unit Certificates, the
Indenture, the Debt Securities or the Purchase Contracts, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any benefits or any legal or equitable right, remedy or claim under this Agreement.
The Holders from time to time shall be parties to this Agreement and shall be bound by all of the terms and conditions hereof and of the Indenture, the Units, the Debt Securities and the Purchase Contracts evidenced by the Units, by their acceptance
of delivery of such Units. 
 
SECTION 11.11.
Governing Law. This Agreement, the Units, the Unit Certificates and the Purchase Contracts shall be governed and construed in accordance with the laws of the State of New York. 
 

61 








 
SECTION 11.12.
Legal Holidays. Unless otherwise specified pursuant to Section 3.02, in any case where any Settlement Date shall not be a Business Day, then (notwithstanding any other provisions of this Agreement or the Purchase Contracts) the Purchase Contracts
shall not be performed on such date, but shall be performed on the next succeeding Business Day with the same force and effect as if performed on such Settlement Date; provided that no interest or other amounts shall accrue or be payable by the
Corporation or any Holder for the period from and after any such Settlement Date. 
 
SECTION 11.13. Counterparts. This Agreement may be executed in any number of counterparts by the parties hereto on separate counterparts, each of which, when so executed and delivered, shall be deemed
an original, but all such counterparts shall together constitute one and the same instrument. 
 
SECTION 11.14. Appointment of Certain Agents. (a) Pursuant to Section 2.03 hereof, the Corporation may, in connection with any series of Purchase Contracts appoint
                             or any other Person as Calculation Agent to make any calculations as may
be required pursuant to the terms of any such series of Purchase Contracts. Any such Calculation Agent shall act as an independent expert and, unless otherwise provided by this Agreement, its calculations and determinations under this Agreement
shall, absent manifest error, be final and binding on the Corporation, the Agent and the Holders. Any such calculations will be made available to the Holders for inspection at the Agent’s Office. 
 
(b) Unless otherwise specified pursuant to Section 2.03, the
Corporation hereby appoints
                                     as the Paying Agent under
the Indenture with respect to each Debt Security comprised by any Unit issued hereunder. 
 
SECTION 11.15. Inspection of Agreement. A copy of this Agreement shall be available at all reasonable times during normal business hours at the Corporate Trust Office of the Agent for inspection by any
Holder. 
 

62 








 
IN WITNESS
WHEREOF, the Corporation, the Agent, the Collateral Agent, the Trustee and the Paying Agent have duly executed this Agreement as of the day and year first above set forth, and all Holders of Units shall become parties hereto by and upon acceptance
by them of delivery of Units issued in accordance with the terms hereof. 
 
 

	  WELLS FARGO & COMPANY

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:

	
	  [
	  	  ]

	

	  	  	  as Agent

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:

	
	  [
	  	  ]

	

	  	  	  as Collateral Agent

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:

	
	  [
	  	  ]

	

	  	  	  as Trustee under the Indenture

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:

	
	  [
	  	  ]

	

	  	  	  as Paying Agent under the Indenture

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:




	


	

 
 

63 








 
EXHIBIT A

 
 
[[FORM OF UNIT CERTIFICATE] 
 
[FACE] 
 
[IF THE UNIT CERTIFICATE IS TO BE A GLOBAL REGISTERED UNIT CERTIFICATE, INSERT—This Unit Certificate is a global Unit Certificate within the meaning of the Unit Agreement hereinafter referred to and is registered in the name of
The Depository Trust Company (the “Depositary”) or a nominee of the Depositary. Unless and until it is exchanged in whole or in part for Units in definitive registered form, this Unit Certificate may not be transferred except as a whole by
the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary).

 
Unless this Unit Certificate is presented by an
authorized representative of the Depositary (55 Water Street, New York) to Wells Fargo & Company or its agent for registration of transfer, exchange or payment, and any Unit issued is registered in the name of Cede & Co. or such other name
as requested by an authorized representative of the Depositary and any payment hereon is made to Cede & Co. or such other entity as is requested by an authorized representative of the Depositary, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY A PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.] 
 

A-1 








 
UNIT
CERTIFICATE 
 
(issuable in integral multiples of
whole Units) 
 
Evidencing the Ownership of, or
Rights and Obligations 
of the Holder Under, the Securities 
Specified Below 
 
[Specify Securities Constituting Part of these Units] 
 

	  CUSIP No.
            
	   	  
	  Certificate No.
            
	   	  Number of Units [Up To] 1                  


 
This
Unit Certificate certifies that              (the “Holder”), or [registered assigns]2, is the [registered]2 owner of [
(            ) Units] 3 [the number of Units specified
in Schedule A hereto.]1 
 
Each Unit represents ownership by the Holder of [specify Securities constituting parts of the Unit] [, subject to the pledge of such Debt
Securities by such Holder pursuant to the Unit Agreement (the “Unit Agreement”) dated as of                     ,
20     among the Corporation,                         , as Agent and as Collateral Agent, and
                         as Trustee and              
         as Paying Agent under the Indenture referred to therein and the Holders from time to time of the Units described therein. Pursuant to the Unit Agreement, the Debt Securities constituting part of
the Units evidenced hereby have been pledged to the Collateral Agent to secure the obligations of the Holder under the Purchase Contract constituting part of such Units.]4 
 
[For so long as the Purchase Contract underlying each Unit represented hereby remains in effect such Unit shall not be separable into its constituent parts and the rights and obligations of the Holder
of such Unit in respect of such constituent parts may be transferred and exchanged only as a Unit.]5 
 
[Designated Security Register:]6 
 
[Other Terms of Units:] 
 
[INSERT APPROPRIATE DEBT SECURITY CERTIFICATE] 
 

 

	  1 	  	 Insert in Global Unit Certificates 

 

	  2 	  	 Insert in Registered Units 

 

	  3 	  	 Insert in Definitive Unit Certificates 

 

A-2 








 

	  4 	  	 Insert in Registered Units consisting of Non-Separable Debt Securities and Purchase Contracts 

 

	  5 	  	 Insert in non-separable Units. 

 

	  6 	  	 Insert in non-separable registered Units 

 

Reference is hereby made to the further provisions of this certificate set forth on the succeeding pages
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 

 

A-3 








 
[FORM OF
PURCHASE CONTRACT 
CONTEMPLATING SALE BY WELLS FARGO & COMPANY] 
 
WELLS FARGO & COMPANY 
 
[Insert Designation of Purchase Contracts] 
 
PURCHASE CONTRACT(S) 
 
Purchase Contracts between 
Wells Fargo & Company 
and 
 

 
or registered assigns, 
as holder hereunder (the “Holder”) 
 
All capitalized terms used but not defined herein that are defined in the Unit Agreement (described below) have the meanings set forth therein, and if not defined therein, have the meaning set forth below. 
 


	
	  Purchase Contract Property:
	  	  
	
	  Quantity:
	  	  
	
	  Purchase Price Settlement Date:
	  	  
	
	  Payment Location:
	  	  
	
	  Method of Settlement:
	  	  
	
	  Currency of Settlement Payment:
	  	  
	
	  Authorized Number of Purchase Contracts:
	  	  
	
	  Aggregate Purchase Price:
	  	  
	
	  Contract Fees:
	  	  
	
	  Corporation Acceleration:
	  	  
	
	  Holder’s Acceleration:
	  	  
	
	  Redemption Provisions:
	  	  
	
	  Other Terms:
	  	  

 

 

A-4 








 
Subject to the
conditions hereinafter set forth, the Holder agrees to purchase and Wells Fargo & Company, a corporation duly incorporated and existing under the laws of the State of Delaware (the “Corporation”), agrees to sell, subject to the terms
of the Unit Agreement referred to below and as set forth herein, on the Settlement Date, the Quantity of Purchase Contract Property, for the Purchase Price. The Purchase Contract(s) evidenced hereby shall not entitle the Holder to purchase the
Purchase Contract Property prior to the Settlement Date. 
 
The Purchase Price for the Purchase Contract Property purchased pursuant to the Purchase Contracts evidenced hereby shall be payable at the Payment Location on the Settlement Date pursuant to the Method of Settlement in the Currency
of Settlement Payment. 
 
Each Purchase Contract
evidenced hereby is one of a duly authorized issue of not more than the Authorized Number of Purchase Contracts of the Corporation relating to the purchase by Holders of not more than the Aggregate Quantity of Purchase Contract Property issued under
the Unit Agreement, dated as of                          (the “Unit Agreement”), among the Corporation,
                        , as Agent (the “Agent”) and as Collateral Agent thereunder, and
                        , as Trustee (the “Trustee”) and
                         Paying Agent under the Indenture referred to therein, and the holders from time to time of Units,
to which Unit Agreement and supplemental agreements thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Agent, the Collateral Agent, the Corporation
and the Holders and of the terms upon which the Purchase Contracts are, and are to be, executed, countersigned, executed on behalf of the Holder and delivered. 
 
The Agent may require a Holder, among other things, to furnish appropriate endorsements and transfer documents in connection with any
transfer or exchange of each Purchase Contract evidenced hereby. No service charge shall be required for any such registration of transfer or exchange, but the Corporation and the Agent may require payment of a sum sufficient to cover any tax or
other governmental charge imposed in connection with any registration of transfer or exchange of Units. 
 
Upon registration of transfer of this Purchase Contract, the transferee shall be bound (without the necessity of any other action on the
part of such transferee, except as may be required by the Agent pursuant to the Unit Agreement), under the terms of the Unit Agreement and the Purchase Contracts evidenced hereby and the transferor shall be released from the obligations under the
Purchase Contracts hereby. The Corporation covenants and agrees, and the Holder, by his acceptance hereof, likewise covenants and agrees, to be bound by the provisions of this paragraph. 
 
The extent to which, and the terms upon which, any cash or other property (other than the Purchase Contract
Property) is payable or deliverable with respect to the 
 

A-5 








 
Purchase Contracts evidenced
hereby is described above under “Contract Fees”. The extent to which, and the terms upon which, the Corporation may accelerate the obligations of the Corporation and the Holders of the Purchase Contracts evidenced hereby is described above
under “Corporation Acceleration”. The extent to which, and the terms upon which, the Holders of such Purchase Contracts may accelerate the obligations of the Corporation and the Holders of the Purchase Contracts is described above under
“Holders’ Acceleration”. The extent to which, and the terms upon which, the Corporation may redeem the Purchase Contracts evidenced hereby is described above under “Redemption Provisions”. 
 
Subject to certain exceptions, the terms of the Purchase
Contracts and the provisions of the Unit Agreement may be amended with the consent of the affected Holders of not less than a majority of the Purchase Contracts evidenced by all Outstanding Units and certain Purchase Contract Defaults may be waived
with the consent of the Holders of a majority of the Purchase Contracts evidenced by all Outstanding Units. Without the consent of any Holder of Units, the terms of the Unit Agreement the Purchase Contracts may be amended to, among other things,
cure any ambiguity, to correct or supplement any provision in the Unit Agreement or Purchase Contract to add to covenants of the Corporation, Collateral Agent or Agent or to make any other provisions with respect to matters or questions arising
under the Unit Agreement or the Purchase Contracts that do not adversely affect the interests of the Holders in any material respect. 
 
Holders of the Purchase Contracts may not enforce the Unit Agreement or such Purchase Contracts except as provided in the Unit Agreement.

 
Any incorporator, or past, present or future
stockholder, officer, attorney-in-fact or director, as such, of the Corporation shall not have any liability for any obligations of the Corporation under the Purchase Contracts or the Unit Agreement or for any claim based on, with respect to or by
reason of such obligations or their creation. The Holder by his acceptance hereof waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Purchase Contracts. 
 
The Purchase Contracts shall for all purposes be governed by,
and construed in accordance with, the laws of the State of New York. 
 
Prior to due presentment of a Unit Certificate or Purchase Contract for registration of transfer, the Corporation, the Trustee, the Agent and the Collateral Agent, and any agent of the Corporation, the Trustee, the Agent and
the Collateral Agent may treat the Person in whose name this Purchase Contract is registered as a party to the Purchase Contracts evidenced hereby for the purpose of performance of such Purchase Contracts and for all other purposes whatsoever, and
neither the Corporation, the Trustee, the Agent and the Collateral Agent nor any such agent shall be affected by notice to the contrary. 
 
The Holder, by his acceptance hereof, authorizes the Agent to execute the Purchase Contracts evidenced hereby on his behalf, authorizes
and directs the Agent on his behalf to take such other action, and covenants and agrees to take such other action, as may be necessary or appropriate, or as may be required by the Agent, to effectuate the provisions 
 

A-6 








 
of the Unit Agreement relating
to the purchase of the Purchase Contract Property [and the pledge of the Debt Securities constituting part of the Unit of which this Purchase Contract forms a part to the Collateral Agent on the Holders behalf,]7 appoints the agent as his attorney-in-fact for any and all such purposes, and agrees to be bound by the terms thereof. 
 
The Purchase Contracts shall not, prior to the performance
thereof, entitle the Holder to any of the rights of a holder of the Purchase Contract Property. 
 
No Purchase Contract evidenced hereby shall be valid or obligatory for any purpose until countersigned and executed on behalf of the Holder by the Agent, pursuant to the Unit Agreement. 
 

 

	  7 	  	 Insert in Registered Units consisting of Non-Separable Debt Securities and Purchase Contracts. 

 

A-7 








 
IN WITNESS
WHEREOF, Wells Fargo & Company has caused this instrument to be duly executed. 
 

	  WELLS FARGO & COMPANY

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:



 
 

	
	  ,


	  as Agent, and as attorney-in-fact of the Holder hereof

	
	  By
	  	  
	  	  	

	  	  	  AuthorizedOfficer

	
	  Countersigned

	
	  ,


	  as Agent

	
	  By:
	  	  
	  	  	

	  	  	  Authorized Officer


 

A-8 








 
[FORM OF
PURCHASE CONTRACT 
CONTEMPLATING PURCHASE BY WELLS FARGO & COMPANY 
 
WELLS FARGO & COMPANY 
 
PURCHASE CONTRACT(S) 
 
Purchase Contracts between 
Wells Fargo & Company 
and 
 

 
or registered assigns, 
as holder hereunder (the “Holder”) 
 
All
capitalized terms used but not defined herein that are defined in the Unit Agreement (described below) have the meanings set forth therein, and if not defined therein, have the meaning set forth below. 
 


	
	  Purchase Contract Property:
	  	  
	
	  Quantity:
	  	  
	
	  Purchase Price:
	  	  
	
	  Settlement Date:
	  	  
	
	  Payment Location:
	  	  
	
	  Method of Settlement:
	  	  
	
	  Method of Computing Settlement Amount:
	  	  
	
	  Currency of Settlement Payment:
	  	  
	
	  Authorized Number of Purchase Contracts:
	  	  
	
	  Aggregate Purchase Price:
	  	  
	
	  Contract Fees:
	  	  
	
	  Corporation Acceleration:
	  	  
	
	  Holders’ Acceleration
	  	  

 

A-9 








 

	  Redemption Provisions:
	   	  
	
	  Other Terms:
	   	  

 
Subject
to the conditions hereinafter set forth, the Holder agrees to sell and Wells Fargo & Company, a corporation duly incorporated and existing under the laws of the State of Delaware (the “Corporation”), agrees to purchase, subject to the
terms of the Unit Agreement referred to below and as set forth herein, on the Settlement Date, the Quantity of Purchase Contract Property, for the Purchase Price. The Purchase Contract(s) evidenced hereby shall not entitle the Corporation to
purchase the Purchase Contract Property, or the Holder to receive the Purchase Price, prior to the Settlement Date. 
 
If so indicated under Method of Settlement above, the parties’ obligations under the Purchase Contracts evidenced hereby may be
settled by payment of the Settlement Amount by the Corporation or the Holder, as the case may be. The Settlement Amount payable pursuant to the Purchase Contracts evidenced hereby, as determined in accordance with the Method of Computing Settlement
Amount, shall be payable on the Settlement Date in the Currency of Settlement Payment pursuant to the Method of Settlement at the Payment Location; provided that any Settlement Amount payable by Holders pursuant to the Purchase Contracts evidenced
hereby may be deducted from the principal payment that may be payable by the Corporation with respect to any Debt Securities comprised by the Units of which such Purchase Contacts are a part. 
 
Each Purchase Contract evidenced hereby is one of a duly
authorized issue of not more than the Authorized Number of Purchase Contracts of the Corporation issued under the Unit Agreement, dated as of
                         (the “Unit Agreement”), among the Corporation,
                        , as Agent (the “Agent”) and as Collateral Agent thereunder and
                        , as Trustee (the “Trustee”) and
                        , as Paying Agent under the Indenture referred to therein, and the holders from time to time of
Units, to which Unit Agreement and supplemental agreements thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Agent, the Corporation and the
Holders and of the terms upon which the Purchase Contracts are, and are to be, executed, countersigned, executed on behalf of the Holder and delivered. 
 
The Agent may require a Holder, among other things, to furnish appropriate endorsements and transfer documents in connection with any
transfer or exchange of each Purchase Contract evidenced hereby. No service charge shall be required for any such registration of transfer or exchange, but the Corporation and the Agent may require payment of a sum sufficient to cover any tax or
other governmental charge imposed in connection with any registration of transfer or exchange of Units. 
 
Upon registration of transfer of this Purchase Contract, the transferee shall be bound (without the necessity of any other action on the
part of such transferee, except as may 
 

A-10 








 
be required by the Agent
pursuant to the Unit Agreement), under the terms of the Unit Agreement and the Purchase Contracts evidenced hereby and the transferor shall be released from the obligations under the Purchase Contracts hereby. The Corporation covenants and agrees,
and the Holder, by his acceptance hereof, likewise covenants and agrees, to be bound by the provisions of this paragraph. 
 
The extent to which, and the terms upon which, any cash or other property (other than the Purchase Contract Property) is payable or
deliverable with respect to the Purchase Contracts evidenced hereby is described above under “Contract Fees”. The extent to which, and the terms upon which, the Corporation may accelerate the obligations of the Corporation and the Holders
of the Purchase Contracts evidenced hereby is described above under “Corporation Acceleration”. The extent to which, and the terms upon which, the Holders of such Purchase Contracts may accelerate the obligations of the Corporation and the
Holders of the Purchase Contracts is described above under “Holders’ Acceleration”. The extent to which, and the terms upon which, the Corporation may redeem the Purchase Contracts evidenced hereby is described above under
“Redemption Provisions”. 
 
Subject to
certain exceptions, the terms of the Purchase Contracts and the provisions of the Unit Agreement may be amended with the consent of the affected Holders of not less than a majority of the Purchase Contracts evidenced by all Outstanding Units and
certain Purchase Contract Defaults may be waived with the consent of the Holders of a majority of the Purchase Contracts evidenced by all Outstanding Units. Without the consent of any Holder of Units, the terms of the Unit Agreement or the Purchase
Contracts may be amended to, among other things, cure any ambiguity, to correct or supplement any provision in the Unit Agreement or Purchase Contract, to add to the covenants of the Corporation, Collateral Agent or Agent for the protection of the
Holders, or to make any other provisions with respect to matters or questions arising under the Unit Agreement or the Purchase Contracts that do not adversely affect the interests of the Holders in any material respect. 
 
Holders of the Purchase Contracts may not enforce the Unit
Agreement or such Purchase Contracts except as provided in the Unit Agreement. 
 
Any incorporator, or past, present or future stockholder, officer, attorney-in-fact or director, as such, of the Corporation shall not have any liability for any obligations of the Corporation under
the Purchase Contracts or the Unit Agreement or for any claim based on, with respect to or by reason of such obligations or their creation. The Holder by his acceptance hereof waives and releases all such liability. The waiver and release are part
of the consideration for the issue of the Purchase Contracts. 
 
The Purchase Contracts shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York. 
 
Prior to due presentment of a Unit Certificate or Purchase Contract for registration of transfer, the Corporation, the Agent, the Trustee
and the Collateral Agent, and any agent of the Corporation, the Agent, the Trustee and the Collateral Agent may treat the Person in whose name this Purchase Contract is registered as a party to the Purchase 
 

A-11 








 
Contracts evidenced hereby for
the purpose of performance of such Purchase Contracts and for all other purposes whatsoever, and neither the Corporation, the Agent, the Trustee and the Collateral Agent nor any such agent shall be affected by notice to the contrary. 
 
The Holder, by his acceptance hereof, authorizes the Agent to
execute the Purchase Contracts evidenced hereby on his behalf, authorizes and directs the Agent on his behalf to take such other action, and covenants and agrees to take such other action, as may be necessary or appropriate, or as may be required by
the Agent, to effectuate the provisions of the Unit Agreement relating to the purchase of the Purchase Contract Property [and the pledge of the Debt Securities constituting part of the Unit of which this Purchase Contract forms a part to the
Collateral Agent on the Holder’s behalf,]8 appoints the agent as his attorney-in-fact for any and all such
purposes, and agrees to be bound by the terms thereof. 
 
No Purchase Contract evidenced hereby shall be valid or obligatory for any purpose until countersigned and executed on behalf of the Holder by the Agent, pursuant to the Unit Agreement. 
 

 

	  8 	  	 Insert in Registered Units consisting of Debt Securities and Purchase Contracts. 

 

A-12 








 
IN WITNESS
WHEREOF, Wells Fargo & Company has caused this instrument to be duly executed. 
 

	  WELLS FARGO & COMPANY

	
	  By:
	  	  
	  	  	

	  	  	  Name:
  Title:



 
 

	
	  ,


	  as Agent, and as attorney-in-fact of the Holder hereof

	
	  By
	  	  
	  	  	

	  	  	  AuthorizedOfficer

	
	  Countersigned

	
	  ,


	  as Agent

	
	  By:
	  	  
	  	  	

	  	  	  Authorized Officer


 
 

A-13 








 
[IF PURCHASE
CONTRACT IS A GLOBAL PURCHASE CONTRACT, INSERT] 
 
SCHEDULE I 
 
GLOBAL 
PURCHASE CONTRACT 
SCHEDULE OF EXCHANGES 
 
The
initial number of Purchase Contracts represented by this Global Purchase Contract is
                                        
    . In accordance with the Unit Agreement pursuant to which this Global Purchase Contract has been issued, the following (A) exchanges of [the number of Purchase Contracts indicated below for a like number of Purchase
Contracts represented by a Global Purchase Contract that has been separated from a Unit (a “Separated Purchase Contract”)]1 [the number of Purchase Contracts that had been represented by a Global Purchase Contract that is part of a Unit (an “Attached Unit Purchase Contract”) for a like number of Purchase Contracts represented by this Purchase
Contract]2 and (B) settlements of the number of Purchase Contracts indicated below have been made: 
 
 

	  Date of Exchange or Settlement

	     	  Number Exchanged for Separated Purchase Contract 1

	     	  Reduced Number Outstanding Following Such Exchange 1

	     	  Number of Attached Unit Purchase Contracts Exchanged for Purchase Contracts represented by this
Separated Purchase Contract 2

	     	  Increased Number Outstanding Following Such Exchange

	     	  Number of Purchase Contracts Settled

	     	  Reduced Number Outstanding Following Such Settlement


	  	     	  	     	  	     	  	     	  	     	  	     	  
	
	     	
	     	
	     	
	     	
	     	
	     	

	  	     	  	     	  	     	  	     	  	     	  	     	  
	
	     	
	     	
	     	
	     	
	     	
	     	

	  	     	  	     	  	     	  	     	  	     	  	     	  
	
	     	
	     	
	     	
	     	
	     	
	     	

	  	     	  	     	  	     	  	     	  	     	  	     	  
	
	     	
	     	
	     	
	     	
	     	
	     	

	  	     	  	     	  	     	  	     	  	     	  	     	  
	
	     	
	     	
	     	
	     	
	     	
	     	

	  	     	  	     	  	     	  	     	  	     	  	     	  
	
	     	
	     	
	     	
	     	
	     	
	     	


 

 

	 1	  	 Applies only if this Purchase Contract is part of a Unit. 

 

	 2	  	 Applies only if this Purchase Contract has been separated from a Unit. 

 

A-14 








 
[IF PURCHASE
CONTRACT IS SEPARATED FROM UNIT, INSERT] 
 
[FORM OF
ASSIGNMENT] 
 
FOR VALUE RECEIVED, the undersigned assigns and
transfers the Purchase Contract(s) represented by this Certificate to: 
 
                                     
    (Insert assignee’s social security or tax identification number) 
 
                                     
    (Insert address and zip code of assignee) 
 
and irrevocably appoints
                                        

 
agent to transfer this Certificate on the books of the
Corporation. The agent may substitute another to act for him or her. 
 
Date: 
 
Signature(s): 
 

	  	   	
	   	  
	
	  	   	
	   	  
	  	   	  (Sign exactly as your name appears on the other side of this
Certificate)
	   	  

 
NOTICE: The signature(s)
should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15.] 
 

A-15 








 
[IF UNIT
CERTIFICATE IS A GLOBAL UNIT CERTIFICATE, INSERT - 
 
SCHEDULE A 
 
GLOBAL 
UNIT CERTIFICATE 
SCHEDULE OF EXCHANGES 
 
The
initial number of Units represented by this Global Unit Certificate is                             .
In accordance with the Unit Agreement pursuant to which this Global Unit Certificate has been issued, the following reductions of the number of Units represented by this Global Unit Certificate have occurred: 
 
 

	  Date of Reduction

	     	  Number Reduced by Separation of the Component Parts of this Unit

	     	  Number Reduced by Settlement of Purchase Contracts

	     	  Number of Units Outstanding Following any such Reduction


	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	

	  	     	  	     	  	     	  
	
	     	
	     	
	     	


 

A-16 








[IF UNIT IS A DEFINITIVE UNIT, INSERT - 
 
[FORM OF ASSIGNMENT] 
 
FOR VALUE RECEIVED, the undersigned assigns and transfers the Unit(s)
represented by this Certificate to: 
 
                                     
    (Insert assignee’s social security or tax identification number) 
 
                                     
    (Insert address and zip code of assignee) 
 
and irrevocably appoints
                                        

 
agent to transfer this Unit Certificate on the books of the
Corporation. The agent may substitute another to act for him or her. 
 
Date: 
 
Signature(s): 
 

	  	   	
	   	  
	
	  	   	
	   	  
	  	   	  (Sign exactly as your name appears on the other side of this
Certificate)
	   	  

 
NOTICE: The signature(s)
should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15.] 
 
 
 

A-17