Exhibit 4.5


 


 


 


 


GENIUS BRANDS INTERNATIONAL, INC.

Issuer


 


 


AND


 


 


[                        ]

Trustee


 


 


INDENTURE


 


 


 


 


 


Dated as of [                        ]


 


 


 


 


Senior Debt Securities


 


 


 


 


 


 


 


 


 






    	 	 	 



     

    

 


CROSS-REFERENCE TABLE (1)


 


	
        Section of Trust Indenture
        Act of 1939, as Amended
	
        Section of

        Indenture

	310(a).	7.09
	310(b).	7.08
	 	7.10
	310(c).	Inapplicable
	311(a).	7.13(a)
	311(b).	7.13(b)
	311(c).	Inapplicable
	312(a)	5.02(a)
	312(b).	5.02(b)
	312(c).	5.02(c)
	313(a).	5.04(a)
	313(b).	5.04(a)
	313(c).	5.04(a)
	 	5.04(b)
	313(d).	5.04(b)
	314(a).	5.03
	314(b).	Inapplicable
	314(c).	13.06
	314(d).	Inapplicable
	314(e).	13.06
	314(f).	Inapplicable
	315(a).	7.01(a)
	 	7.02
	315(b).	6.07
	315(c).	7.01
	315(d).	7.01(b)
	 	7.01(c)
	315(e).	6.07
	316(a).	6.06
	 	8.04
	316(b).	6.04
	316(c).	8.01
	317(a).	6.02
	317(b).	4.03
	318(a).	13.08


 


______________________


		(1)	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of
any of its terms or provisions.



 


 


 


 


 


 






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TABLE OF CONTENTS
(2)


 


	ARTICLE I DEFINITIONS	 	1
	 	 	 	 
	 	SECTION 1.01	 	Definitions of Terms.	 	1
	 	 	 	 
	ARTICLE II ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	 	4
	 	 	 	 
	 	SECTION 2.01	 	Designation and Terms of Securities.	 	4
	 	SECTION 2.02	 	Form of Securities and Trustee’s Certificate.	 	6
	 	SECTION 2.03	 	Denominations: Provisions for Payment.	 	6
	 	SECTION 2.04	 	Execution and Authentications.	 	8
	 	SECTION 2.05	 	Registration of Transfer and Exchange.	 	8
	 	SECTION 2.06	 	Temporary Securities.	 	9
	 	SECTION 2.07	 	Mutilated, Destroyed, Lost or Stolen Securities.	 	9
	 	SECTION 2.08	 	Cancellation.	 	10
	 	SECTION 2.09	 	Benefits of Indenture.	 	10
	 	SECTION 2.10	 	Authenticating Agent.	 	10
	 	SECTION 2.11	 	Global Securities	 	11
	 	 	 	 
	ARTICLE III REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	 	12
	 	 	 	 
	 	SECTION 3.01	 	Redemption.	 	12
	 	SECTION 3.02	 	Notice of Redemption.	 	12
	 	SECTION 3.03	 	Payment Upon Redemption.	 	13
	 	SECTION 3.04	 	Sinking Fund.	 	13
	 	SECTION 3.05	 	Satisfaction of Sinking Fund Payments with Securities.	 	14
	 	SECTION 3.06	 	Redemption of Securities for Sinking Fund.	 	14
	 	 	 	 	 	 
	ARTICLE IV COVENANTS	 	14
	 	 	 	 	 	 
	 	SECTION 4.01	 	Payment of Principal, Premium and Interest.	 	14
	 	SECTION 4.02	 	Maintenance of Office or Agency.	 	14
	 	SECTION 4.03	 	Paying Agents.	 	15
	 	SECTION 4.04	 	Appointment to Fill Vacancy in Office of Trustee.	 	16
	 	SECTION 4.05	 	Compliance with Consolidation Provisions.	 	16
	 	 	 	 	 	 
	ARTICLE V SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	 	16
	 	 	 	 	 	 
	 	SECTION 5.01	 	Company to Furnish Trustee Names and Addresses of Securityholders.	 	16
	 	SECTION 5.02	 	Preservation of Information; Communications with Securityholders.	 	16
	 	SECTION 5.03	 	Reports by the Company.	 	16
	 	SECTION 5.04	 	Reports by the Trustee.	 	17
	 	 	 	 	 	 
	ARTICLE VI REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	 	17
	 	 	 	 
	 	SECTION 6.01	 	Events of Default.	 	17
	 	SECTION 6.02	 	Collection of Indebtedness and Suits for Enforcement by Trustee.	 	19
	 	SECTION 6.03	 	Application of Moneys Collected.	 	20




 


 


 






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	 	SECTION 6.04	 	Limitation on Suits.	 	20
	 	SECTION 6.05	 	Rights and Remedies Cumulative; Delay or Omission Not Waiver.	 	21
	 	SECTION 6.06	 	Control by Securityholders.	 	21
	 	SECTION 6.07	 	Undertaking to Pay Costs.	 	22
	 	 	 	 	 	 
	ARTICLE VII CONCERNING THE TRUSTEE	 	22
	 	 	 	 	 	 
	 	SECTION 7.01	 	Certain Duties and Responsibilities of Trustee.	 	22
	 	SECTION 7.02	 	Certain Rights of Trustee.	 	23
	 	SECTION 7.03	 	Trustee Not Responsible for Recitals or Issuance of Securities.	 	24
	 	SECTION 7.04	 	May Hold Securities.	 	24
	 	SECTION 7.05	 	Moneys Held in Trust.	 	24
	 	SECTION 7.06	 	Compensation and Reimbursement.	 	25
	 	SECTION 7.07	 	Reliance on Officers’ Certificate.	 	25
	 	SECTION 7.08	 	Disqualification; Conflicting Interests.	 	25
	 	SECTION 7.09	 	Corporate Trustee Required; Eligibility.	 	25
	 	SECTION 7.10	 	Resignation and Removal; Appointment of Successor.	 	26
	 	SECTION 7.11	 	Acceptance of Appointment By Successor.	 	27
	 	SECTION 7.12	 	Merger, Conversion, Consolidation or Succession to Business.	 	28
	 	SECTION 7.13	 	Preferential Collection of Claims Against the Company.	 	28
	 	 	 	 	 	 
	ARTICLE VIII CONCERNING THE SECURITYHOLDERS	 	28
	 	 	 	 	 	 
	 	SECTION 8.01	 	Evidence of Action by Securityholders.	 	28
	 	SECTION 8.02	 	Proof of Execution by Securityholders.	 	29
	 	SECTION 8.03	 	Who May be Deemed Owners.	 	29
	 	SECTION 8.04	 	Certain Securities Owned by Company Disregarded.	 	29
	 	SECTION 8.05	 	Actions Binding on Future Securityholders.	 	30
	 	SECTION 8.06	 	Purposes for Which Meetings May Be Called.	 	30
	 	SECTION 8.07	 	Call Notice and Place of Meetings.	 	30
	 	SECTION 8.08	 	Persons Entitled To Vote at Meetings.	 	31
	 	SECTION 8.09	 	Quorum; Action.	 	31
	 	SECTION 8.10	 	Determination of Voting Rights; Conduct and Adjournment of Meetings.	 	31
	 	SECTION 8.11	 	Counting Votes and Recording Action of Meetings.	 	32
	 	 	 	 	 	 
	ARTICLE IX SUPPLEMENTAL INDENTURES	 	32
	 	 	 	 	 	 
	 	SECTION 9.01	 	Supplemental Indentures Without the Consent of Securityholders.	 	32
	 	SECTION 9.02	 	Supplemental Indentures With Consent of Securityholders.	 	33
	 	SECTION 9.03	 	Effect of Supplemental Indentures.	 	34
	 	SECTION 9.04	 	Securities Affected by Supplemental Indentures.	 	34
	 	SECTION 9.05	 	Execution of Supplemental Indentures.	 	34
	 	 	 	 	 	 
	ARTICLE X SUCCESSOR ENTITY	 	34
	 	 	 	 	 	 
	 	SECTION 10.01	 	Company May Consolidate, Etc.	 	34
	 	SECTION 10.02	 	Successor Entity Substituted.	 	35
	 	SECTION 10.03	 	Evidence of Consolidation, Etc. to Trustee.	 	35



 


 


 






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	ARTICLE XI SATISFACTION AND DISCHARGE	 	35
	 	 	 	 	 	 
	 	SECTION 11.01	 	Satisfaction and Discharge of Indenture.	 	35
	 	SECTION 11.02	 	Discharge of Obligations.	 	36
	 	SECTION 11.03	 	Deposited Moneys to be Held in Trust.	 	36
	 	SECTION 11.04	 	Payment of Moneys Held by Paying Agents.	 	36
	 	SECTION 11.05	 	Repayment to Company.	 	36
	 	 	 	 	 	 
	ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	 	37
	 	 	 	 	 	 
	 	SECTION 12.01	 	No Recourse.	 	37
	 	 	 	 	 	 
	ARTICLE XIII MISCELLANEOUS PROVISIONS	 	37
	 	 	 	 	 	 
	 	SECTION 13.01	 	Effect on Successors and Assigns.	 	37
	 	SECTION 13.02	 	Actions by Successor.	 	37
	 	SECTION 13.03	 	Surrender of Company Powers.	 	38
	 	SECTION 13.04	 	Notices.	 	38
	 	SECTION 13.05	 	Governing Law.	 	38
	 	SECTION 13.06	 	Treatment of Securities as Debt.	 	38
	 	SECTION 13.07	 	Compliance Certificates and Opinions.	 	38
	 	SECTION 13.08	 	Payments on Business Days.	 	39
	 	SECTION 13.09	 	Conflict with Trust Indenture Act.	 	39
	 	SECTION 13.10	 	Counterparts.	 	39
	 	SECTION 13.11	 	Separability.	 	39
	 	SECTION 13.12	 	Assignment.	 	39




 


_________________________________


		(2)	This Table of Contents does not constitute part of the Indenture and shall not have any bearing on the interpretation of any
of its terms and provisions.



 


 


 


 


 


 


 


 


 


 






    	 	iv 	 



     

    

 


INDENTURE, dated as of [           ], by and between Genius Brands International,
Inc., a Nevada corporation (the “Company”), and [           ], as trustee (the “Trustee”):


 


WHEREAS, for its lawful corporate purposes, the Company has
duly authorized the execution and delivery of this Indenture to provide for the issuance of debt securities (hereinafter referred
to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series
as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee;


 


WHEREAS, to provide the terms and conditions upon which the
Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and


 


WHEREAS, all things necessary to make this Indenture a valid
agreement of the Company, in accordance with its terms, have been done.


 


NOW, THEREFORE, in consideration of the premises and the purchase
of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of
the holders of Securities:


 


ARTICLE I



DEFINITIONS


 


		Section 1.01	Definitions
of Terms.



 


The terms defined in this Section (except as in this Indenture
otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture
supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular.
All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference
in such Act defined in the Securities Act of 1933, as amended (except as herein otherwise expressly provided or unless the context
otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in
force at the date of the execution of this instrument.


 


“Authenticating Agent” means an authenticating agent
with respect to all or any of the series of Securities appointed with respect to all or any series of the Securities by the Trustee
pursuant to Section 2.10.


 


“Bankruptcy Law” means Title 11, U.S. Code, or any
similar federal or state law for the relief of debtors.


 


“Board of Directors” means the Board of Directors
of the Company or any duly authorized committee of such Board.


  


“Board Resolution” means a copy of a resolution
certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to
be in full force and effect on the date of such certification.


 


“Business Day” means, with respect to any series
of Securities, any day other than a day on which Federal or State banking institutions in the Borough of Manhattan, the City and
State of New York, are authorized or obligated by law, executive order or regulation to close.


 



 


 






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“Certificate” means a certificate signed by the
principal executive officer, the principal financial officer or the principal accounting officer of the Company. The Certificate
need not comply with the provisions of Section 13.07.


 


“Commission” means the Securities and Exchange Commission.


 


“Company” means the corporation named as the “Company”
in the first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions
of this Indenture, and thereafter “Company” shall mean such successor corporation.


 


“Corporate Trust Office” means the office of the
Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office at the date
hereof is located at [                           ], except that whenever a provision herein refers to an office or agency of the Trustee in the Borough of
Manhattan, the City and State of New York, such office is located, at the date hereof, at [                     ].


 


“Custodian” means any receiver, trustee, assignee,
liquidator, or similar official under any Bankruptcy Law.


 


“Default” means an event which is, or after notice
or lapse of time, or both, would constitute an Event of Default.


 


“Depositary” means, with respect to Securities of
any series, for which the Company shall determine that such Securities will be issued as a Global Security, The Depository Trust
Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act,
or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01
or Section 2.11.


 


“Event of Default” means, with respect to Securities
of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated.


 


“Exchange Act” means the Securities Exchange Act
of 1934, as amended.


 


“Global Security” means, with respect to any series
of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction, all in accordance with this Indenture, which shall be registered in the name of the Depositary or its nominee.


 


“Governmental Obligations” means securities that
are (i) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (ii)
obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America,
the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America that,
in either case, are non-callable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Governmental Obligation
or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of
the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in
respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced
by such depositary receipt.


 


“herein,” “hereof” and “hereunder,”
and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.



 


 


 






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“Indenture” means this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in
accordance with the terms hereof.


 


“Interest Payment Date,” when used with respect
to any installment of interest on a Security of a particular series, means the date specified in such Security or in a Board Resolution
or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect
to Securities of that series is due and payable.


 


“Officers’ Certificate” means a certificate
signed by the President or a Vice President and by the Chief Financial Officer, Vice President of Finance, the Treasurer or an
Assistant Treasurer or the Controller or an Assistant Controller or the Secretary or an Assistant Secretary of the Company that
is delivered to the Trustee in accordance with the terms hereof. Certificate shall include the statements provided for in Section
13.07, if and to the extent required by the provisions thereof.


 


“Opinion of Counsel” means a written opinion of
counsel, who may be counsel to the Company (and may include directors or employees of the Company) and which opinion is acceptable
to the Trustee which acceptance shall not be unreasonably withheld.


 


“Outstanding”, when used with reference to Securities
of any series, means, subject to the provisions of Section 8.04, as of any particular time, all Securities of that series theretofore
authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any
paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been canceled; (b) Securities
or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have
been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated
in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions
of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article
III provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu
of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.


 


“Person” means any individual, corporation, limited
liability company, partnership, joint-venture, association, joint-stock company, trust, estate, unincorporated organization or
government or any agency or political subdivision thereof.


 


“Predecessor Security” of any particular Security
means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and,
for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a mutilated, destroyed,
lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.


 


“Responsible Officer,” when used with respect to
the Trustee, means any officer of the Trustee, including any vice president, assistant vice president, secretary, assistant secretary,
the treasurer, any assistant treasurer, the managing director or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the
particular subject.


 


“Securities” means the debt Securities authenticated
and delivered under this Indenture.


 


“Security Register” has the meaning specified in
Section 2.05.



 


 


 



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“Security Registrar” has the meaning specified in
Section 2.05.


 


“Securityholder,” “holder of Securities,”
“registered holder,” or other similar term, means the Person or Persons in whose name or names a particular Security
shall be registered in the Security Register.


 


“Subsidiary” means, with respect to any Person,
(i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by
such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any general partnership,
joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests shall at the time be
owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any
limited partnership of which such Person or any of its Subsidiaries is a general partner.


 


“Trustee” means the Person named as the “Trustee”
in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions
of this Indenture, and thereafter “Trustee” shall mean such successor Trustee. The term “Trustee” as used
with respect to a particular series of the Securities shall mean the trustee with respect to that series.


 


“Trust Indenture Act” means the Trust Indenture
Act of 1939, as amended, subject to the provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of
this instrument; provided, however, that in the event the Trust Indenture Act is amended after such date, Trust Indenture Act means,
to the extent required by such amendment, the Trust Indenture Act of 1939, as so amended, or any successor statute.


 


“Voting Stock,” as applied to any Person, means
shares, interests, participations or other equivalents in the equity interest (however designated) in such Person having ordinary
voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests,
participations or other equivalents having such power only by reason of the occurrence of a contingency.


 


ARTICLE II


 


ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES


 


	Section 2.01	Designation and Terms of Securities.



 


		(a)	The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The
Securities may be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time
authorized by or pursuant to a Board Resolution of the Company or pursuant to one or more indentures supplemental hereto. Prior
to the initial issuance of Securities of a given series, there shall be established in or pursuant to a Board Resolution of the
Company, and set forth in an Officers’ Certificate of the Company, or established in one or more indentures supplemental
hereto:



 


		(1)	the title of the Security of the series (which shall distinguish the Securities of the series from all other Securities);



 


		(2)	the aggregate principal amount of the Securities of such series initially to be issued and any limit upon the aggregate principal
amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series);



 


 


 






    	 	4 	 



     

    

 



		(3)	the currency or units based on or relating to currencies in which debt securities of such series are denominated and the currency
or units in which principal or interest or both will or may be payable;



 


		(4)	the date or dates on which the principal of the Securities of the series is payable and the place(s) of payment;



 


		(5)	the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates,
if any;



 


		(6)	the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable
or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination
of holders to whom interest is payable on any such Interest Payment Dates or the method for determining such dates;



 


		(7)	the right, if any, to extend the interest payment periods or to defer the payment of interest and the duration of such extension;



 


		(8)	the period or periods within which, the price or prices at which and the terms and conditions upon which, Securities of the
series may be redeemed, in whole or in part, at the option of the Company;



 


		(9)	the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or analogous
provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at the option of a holder thereof
and the period or periods within which, the price or prices at which, and the terms and conditions upon which, Securities of the
series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;



 


		(10)	whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;



 


		(11)	the form of the Securities of the series including the form of the Certificate of Authentication for such series;



 


		(12)	if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which
the Securities of the series shall be issuable;



 


		(13)	any and all other terms with respect to such series (which terms shall not be inconsistent with the terms of this Indenture,
as amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or
regulations or advisable in connection with the marketing of Securities of that series;



 


		(14)	whether the Securities are issuable as a Global Security and, in such case, the identity of the Depositary for such series;



 


		(15)	whether the Securities will be convertible into shares of common stock or other securities of the Company and, if so, the terms
and conditions upon which such Securities will be so convertible, including the conversion price and the conversion period;



 


 


 






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		(16)	if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be
payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; and



 


		(17)	any additional or different Events of Default or restrictive covenants provided for with respect to the Securities of the series.



 



All Securities of any one series shall be substantially identical
except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures
supplemental hereto.


 


If any of the terms of the series are established by action
taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the Secretary
or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate
of the Company setting forth the terms of the series.


 


Securities of any particular series may be issued at various
times, with different dates on which the principal or any installment of principal is payable, with different rates of interest,
if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable
and with different redemption dates.


 


		Section 2.02	Form of
Securities and Trustee’s Certificate.



 


The Securities of any series and the Trustee’s certificate
of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more indentures
supplemental hereto or as provided in a Board Resolution of the Company and as set forth in an Officers’ Certificate of the
Company and may have such letters, numbers or other marks of identification or designation and such legends or endorsements printed,
lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture,
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 stock exchange on which Securities of that series may be listed, or to conform to usage.


 


		Section 2.03	Denominations:
Provisions for Payment.



 


The Securities shall be issuable as registered Securities and
in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(12). The
Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series.
The principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof
prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for
public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City
and State of New York. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed
on the basis of a 360-day year composed of twelve 30-day months.


 


The interest installment on any Security that is payable, and
is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person
in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record
date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption
and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest
Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03.


 


 


 






    	 	6 	 



     

    

 


Any interest on any Security that is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such
holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below:


 


		(1)	The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted
Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall
deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest
or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon
the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less
than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice
of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor
to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register,
not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special
record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such
Securities (or their respective Predecessor Securities) are registered on such special record date.



 


		(2)	The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such
exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of
payment shall be deemed practicable by the Trustee.



 


Unless otherwise set forth in a Board Resolution of the Company
or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof,
the term “regular record date” as used in this Section with respect to a series of Securities with respect to any Interest
Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest
Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the first
day of a month, or the last day of the month immediately preceding the month in which an Interest Payment Date established for
such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether
or not such date is a Business Day.


 


Subject to the foregoing provisions of this Section, each Security
of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series
shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.


 


 


 


 






    	 	7 	 



     

    

 


		Section 2.04	Execution and
Authentications.



 


The Securities shall be signed on behalf of the Company by its
President, or one of its Vice Presidents, or its Treasurer, or one of its Assistant Treasurers, or its Secretary, or one of its
Assistant Secretaries, under its corporate seal attested by its Secretary or one of its Assistant Secretaries. Signatures may be
in the form of a manual or facsimile signature. The Company may use the facsimile signature of any Person who shall have been a
President or Vice President thereof, or of any Person who shall have been a Treasurer or Assistant Treasurer thereof, or of any
Person who shall have been a Secretary or Assistant Secretary thereof, notwithstanding the fact that at the time the Securities
shall be authenticated and delivered or disposed of such Person shall have ceased to be the President or a Vice President, the
Treasurer or an Assistant Treasurer or the Secretary or an Assistant Secretary, of the Company. The seal of the Company may be
in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. The
Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall
be dated the date of its authentication.


 


A Security shall not be valid or obligatory for any purpose
and shall not be entitled to any benefit under this Indenture, in each case, until authenticated with a certificate of authentication
manually signed by an authorized signatory of the Trustee, or by an Authenticating Agent. Such certificate shall be conclusive
evidence, and the only evidence, that the Security so authenticated has been duly authenticated and delivered hereunder and that
the Security is entitled to the benefits of this Indenture. At any time and from time to time after the execution and delivery
of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication,
together with a written order of the Company for the authentication and delivery of such Securities, signed by its President or
any Vice President and its Secretary or any Assistant Secretary, and the Trustee in accordance with such written order shall authenticate
and deliver such Securities.


 


In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to
Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been
established in conformity with the provisions of this Indenture.


 


The Trustee shall not be required to authenticate such Securities
if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under
the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.


 


		Section 2.05	Registration
of Transfer and Exchange.



 


		(a)	Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such
purpose in the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations,
and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation
thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute,
the Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same
series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.



 


		(b)	The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan,
the City and State of New York, or such other location designated by the Company a register or registers (herein referred to as
the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register
the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for
inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided
shall be appointed as authorized by Board Resolution (the “Security Registrar”).



 


 


 






    	 	8 	 



     

    

 


	 	 	Upon surrender for transfer of any Security at the
office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such
office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as
the Security presented for a like aggregate principal amount.
	 	 	 
	 	 	All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar)
by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed
by the registered holder or by such holder’s duly authorized attorney in writing.



 


		(c)	No service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case
of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer.



 


		(d)	The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities
of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange
any Securities of any series or portions thereof called for redemption. The provisions of this Section 2.05 are, with respect to
any Global Security, subject to Section 2.11 hereof.



 


		Section 2.06	Temporary
Securities.



 


Pending the preparation of definitive Securities of any series,
the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or typewritten)
of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu
of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all
as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated
by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities
of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon
any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the
office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, and the
Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate
principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive
Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities
of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated
and delivered hereunder.


 


		Section 2.07	Mutilated,
Destroyed, Lost or Stolen Securities.



 


In case any temporary or definitive Security shall become mutilated
or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number
not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for
the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company
and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction,
loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction,
loss or theft of the applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted
Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any
substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.
In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company
may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the
case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity
as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company
and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof.


 


 


 






    	 	9 	 



     

    

 


Every replacement Security issued pursuant to the provisions
of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost
or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be
held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies,
notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of
negotiable instruments or other securities without their surrender.


 


		Section 2.08	Cancellation.



 


All Securities surrendered for the purpose of payment, redemption,
exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for
cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except
as expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender,
the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may
dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company.
If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction
of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.


 


		Section 2.09	Benefits
of Indenture.



 


Nothing in this Indenture or in the Securities, express or implied,
shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities any legal or
equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained;
all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities.


 


		Section 2.10	Authenticating
Agent.



 


So long as any of the Securities of any series remain Outstanding
there may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint.
Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued
upon exchange, transfer or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this
Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this
Indenture to the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent
for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital
and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized
or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such
business and is subject to supervision or examination by Federal or State authorities. If at any time any Authenticating Agent
shall cease to be eligible in accordance with these provisions, it shall resign immediately.


 


 


 


 






    	 	10 	 



     

    

 


Any Authenticating Agent may at any time resign by giving written
notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate
the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company.
Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor
Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder,
shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating
Agent pursuant hereto.


 


		Section 2.11	Global
Securities



 


		(a)	If the Company shall establish pursuant to Section 2.01 that some or all of the Securities of a particular series are to be
issued as a Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate
and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal
amount of, the Outstanding Securities of such series which are to be issued as a Global Security, (ii) shall be registered in the
name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction and (iv) shall bear a legend substantially to the following effect: “Except as otherwise provided in Section
2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee of the Depositary or
to a successor Depositary or to a nominee of such successor Depositary.”



 


		(b)	Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary
for such series selected or approved by the Company or to a nominee of such successor Depositary.



 


		(c)	If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue
as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing
under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed
by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this
Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section
2.05, the Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in
authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series
in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall
no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities
of such series. In such event the Company will execute and subject to Section 2.05, the Trustee, upon receipt of an Officers’
Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive
registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount
of the Global Security of such series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities
in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee.
Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall
be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or
indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for
delivery to the Persons in whose names such Securities are so registered.



 


 


 


 






    	 	11 	 



     

    

 


ARTICLE III



REDEMPTION OF SECURITIES AND

SINKING FUND PROVISIONS


 


		Section 3.01	Redemption.



 


The Company may redeem the Securities of any series issued hereunder
on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof.


 


		Section 3.02	Notice
of Redemption.



 


		(a)	In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of
any series in accordance with the right reserved so to do, the Company shall, or shall cause the Trustee to, give notice of such
redemption to holders of the Securities of such series to be redeemed by mailing, first class postage prepaid, a notice of such
redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such holders
at their last addresses as they shall appear upon the Security Register unless a shorter period is specified in the Securities
to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given,
whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security
of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities
prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture,
the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with any such restriction.
	 	 	 
	 	 	Each such notice of redemption shall specify the date
fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment
of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the Borough of
Manhattan, the City and State of New York, upon presentation and surrender of such Securities, that interest accrued to the date
fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and
that the redemption is for a sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed,
the notice to the holders of Securities of that series to be redeemed in whole or in part shall specify the particular Securities
to be so redeemed. In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the
portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of
such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be
issued.



 


 


 


 






    	 	12 	 



     

    

 


		(b)	If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 30 days’
notice in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed,
and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion
and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple
thereof) of the principal amount of such Securities of a denomination larger than $1,000, the Securities to be redeemed and shall
thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company
may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by its President or any Vice President,
instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to
give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name
as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee
or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such
paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom,
sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions of this
Section.



 


		Section 3.03	Payment
Upon Redemption.



 


		(a)	If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities
of the series to be redeemed 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, together with interest accrued to the date fixed for redemption and interest on such
Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall
default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation
and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said
Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon
to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable
on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section
2.03).



 


		(b)	Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee
shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense
of the Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion
of the Security so presented.



 


		Section 3.04	Sinking
Fund.



 


The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable
to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01
for Securities of such series.


 


The minimum amount of any sinking fund payment provided for
by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment
in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment
may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities
of any series as provided for by the terms of Securities of such series.


 



 


 






    	 	13 	 



     

    

 


		Section 3.05	Satisfaction
of Sinking Fund Payments with Securities.



 


The Company (i) may deliver Outstanding Securities of a series
(other than any Securities previously called for redemption) and (ii) may apply as a credit Securities of a series that have been
redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any
sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities
as provided for by the terms of such series, provided that such Securities have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption
through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.


 


		Section 3.06	Redemption
of Securities for Sinking Fund.



 


Not less than 45 days prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the
next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to
be satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will,
together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days
before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment
date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense
of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall
be made upon the terms and in the manner stated in Section 3.03.


 


ARTICLE IV


 


COVENANTS


 


		Section 4.01	Payment
of Principal, Premium and Interest.



 


The Company will duly and punctually pay or cause to be paid
the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided
herein and established with respect to such Securities.


 


		Section 4.02	Maintenance
of Office or Agency.



 


So long as any series of the Securities remain Outstanding,
the Company agrees to maintain an office or agency in the Borough of Manhattan, the City and State of New York, with respect to
each such series and at such other location or locations as may be designated as provided in this Section 4.02, where (i) Securities
of that series may be presented or surrendered for payment, (ii) Securities of that series may be presented as herein above authorized
for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of
that series and this Indenture may be given or served, such designation to continue with respect to such office or agency until
the Company shall, by written notice signed by its President or a Vice President and delivered to the trustee, designate some other
office or agency for such purposes or any of them. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served
at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations,
notices and demands.


 


 


 






    	 	14 	 



     

    

 


		Section 4.03	Paying
Agents.



 


		(a)	If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the
Company will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with
the Trustee, subject to the provisions of this Section:



 


		(1)	that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on
the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities)
in trust for the benefit of the Persons entitled thereto;



 


		(2)	that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any
payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable;



 


		(3)	that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the
written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and



 


		(4)	that it will perform all other duties of paying agent as set forth in this Indenture.



 


		(b)	If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due
date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust
for the benefit of the Persons entitled thereto a sum sufficient with monies held by all other paying agents to pay such principal
(and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or
otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other
obligor on such Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities,
it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit
with the paying agent a sum sufficient to pay the principal (an premium, if any) or interest so becoming due, such sum to be held
in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such paying agent is the Trustee)
the Company will promptly notify the Trustee of this action or failure so to act.



 


		(c)	Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section
is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held
in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon
which such sums were held by the Company or such paying agent; and, upon such payment by any paying agent to the Trustee, such
paying agent shall be released from all further liability with respect to such money.



 


 


 






    	 	15 	 



     

    

 


		Section 4.04	Appointment
to Fill Vacancy in Office of Trustee.



 


The Company, whenever necessary to avoid or fill a vacancy in
the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be a Trustee
hereunder.


 


		Section 4.05	Compliance
with Consolidation Provisions.



 


The Company will not, while any of the Securities remain Outstanding,
consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction, or sell
or convey all or substantially all of its property to any other company unless the provisions of Article X hereof are complied
with.


 


ARTICLE V


 


SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE


 


		Section 5.01	Company
to Furnish Trustee Names and Addresses of Securityholders.



 


If the Company is not the Security Register, the Company will
furnish or use reasonable efforts to cause to be furnished to the Trustee (a) on each regular record date (as defined in Section
2.03) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of
Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such
list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company
and (b) at such other times as the Trustee may request in writing within 30 days after the receipt by the Company 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,
however, that, in either case, no such list need be furnished for any series for which the Trustee shall be the Security Registrar.


 


		Section 5.02	Preservation
of Information; Communications with Securityholders.



 


		(a)	The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses
of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names
and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity)
and shall otherwise comply with Section 312(a) of the Trust Indenture Act.



 


		(b)	The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.



 


		(c)	Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect
to their rights under this Indenture or under the Securities.



 


		Section 5.03	Reports
by the Company.



 


		(a)	The Company covenants and agrees to file with the Trustee, within 15 days after the Company is required to file the same with
the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of
any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company may be required
to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to
file information, documents or reports pursuant to either of such sections, then to file with the Trustee and the Commission, in
accordance with the rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports that may be required pursuant to Section 13 of the Exchange Act, in respect of a security listed
and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; provided,
however, the Company shall not be required to deliver to the Trustee any materials for which the Company has sought and received
confidential treatment by the Commission. The Company also shall comply with the other provisions of Section 314(a) of the Trust
Indenture Act.



 


 


 






    	 	16 	 



     

    

 


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



 


		(c)	The Company covenants and agrees to transmit by mail, first class postage prepaid, or reputable over-night delivery service
that provides for evidence of receipt, to the Securityholders, as their names and addresses appear upon the Security Register,
within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to
be filed by the Company pursuant to subsections (a) and (b) of this Section as may be required by rules and regulations prescribed
from time to time by the Commission.



 


		Section 5.04	Reports
by the Trustee.



 


		(a)	The Trustee shall transmit to holders as provided in Section 313 of the Trust Indenture Act such reports concerning the Trustee
and its actions under this Indenture as may be required by Section 313 of the Trust Indenture Act at the times and in the manner
provided by the Trust Indenture Act.



 


		(b)	A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company,
with each stock exchange upon which any Securities are listed (if so listed) and, if required by Section 313 of the Trust Indenture
Act, also with the Commission. The Company agrees to notify the Trustee when any Securities become listed on any stock exchange.



 


ARTICLE VI



REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT


 


		Section 6.01	Events
of Default.



 


		(a)	Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more
of the following events that has occurred and is continuing:



 


		(1)	the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the
same shall become due and payable, and continuance of such default for a period of 90 days; provided, however, that a valid extension
of an interest payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not constitute
a default in the payment of interest for this purpose;



 


		(2)	the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and
when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment
required by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of
the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default
in the payment of principal or premium, if any;



 


 


 






    	 	17 	 



     

    

 


		(3)	the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this
Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant
or agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other
than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied
and stating that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the Trustee,
by registered or certified mail, or to the Company and the Trustee by the holders of not less than a majority in principal amount
of the Securities of that series at the time Outstanding;



 


		(4)	the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry
of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or
substantially all of its property or (iv) makes a general assignment for the benefit of its creditors; or



 


		(5)	a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an
involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property, or (iii) orders the liquidation
of the Company, and the order or decree remains unstayed and in effect for 90 consecutive days.



 


		(b)	In each and every such case, unless the principal of all the Securities of that series shall have already become due and payable,
either the Trustee or the holders of not less than a majority in aggregate principal amount of the Securities of that series then
Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the
principal (or, if any Securities of that series are discount securities, that portion of the principal amount as may be specified
in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium, if any, on) and accrued and unpaid interest, if any,
on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and
shall be immediately due and payable.



 


		(c)	At any time after the principal of the Securities of that series shall have been so declared due and payable, and before a
judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of
a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder (or, by action at a meeting
of holders of the Securities of such series in accordance with Section 8.09, the holders of a majority in aggregate principal amount
of the Securities of such series then Outstanding represented at such meeting), by written notice to the Company and the Trustee,
may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient
to pay all matured installments of interest upon all the Securities of that series and the principal of (and premium, if any, on)
any and all Securities of that series that shall have become due otherwise than by acceleration and (ii) any and all Events of
Default under this Indenture with respect to such series, other than the nonpayment of principal of (and premium, if any, on) and
accrued and unpaid interest, if any, on Securities of that series that shall have become due solely because of such acceleration,
shall have been remedied, cured or waived as provided in Section 6.06. No such rescission and annulment shall extend to or shall
affect any subsequent default or impair any right consequent thereon.



 


 


 






    	 	18 	 



     

    

 


		(d)	In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture
and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason
or shall have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings,
the Company, and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies
and powers of the Company and the Trustee shall continue as though no such proceedings had been taken.



 


		Section 6.02	Collection
of Indebtedness and Suits for Enforcement by Trustee.



 


		(a)	The Company covenants that (1) in case it shall default in the payment of any installment of interest on any of the Securities
of a series, or any payment required by any sinking or analogous fund established with respect to that series as and when the same
shall have become due and payable, and such default shall have continued for a period of 90 Business Days, or (2) in case it shall
default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have
become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise,
then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that
series, the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if
any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent
that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum
expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, and the amount payable to the Trustee under Section 7.06.



 


		(b)	If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an
express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of
the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such
judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged
or decreed to be payable in the manner provided by law out of the property of the Company or other obligor upon the Securities
of that series, wherever situated.



 


		(c)	In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or
judicial proceedings affected the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings
and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the
Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under this
Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company
after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute
the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in
bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to
the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders,
to pay to the Trustee any amount due it under Section 7.06.



 


 


 






    	 	19 	 



     

    

 


		(d)	All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities
of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any
trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own
name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts
due under Section 7.06, be for the ratable benefit of the holders of the Securities of such series.



 


In case of an Event of Default hereunder, the Trustee may in
its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings
as the Trustee shall deem most effectual 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 covenant or agreement contained in this Indenture or in aid of the exercise
of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture
or by law.


 


Nothing contained herein shall be deemed to authorize the Trustee
to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment
or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote
in respect of the claim of any Securityholder in any such proceeding.


 


		Section 6.03	Application
of Moneys Collected.



 


Any moneys collected by the Trustee pursuant to this Article
with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of
the Securities of that series, and notation thereon the payment, if only partially paid, and upon surrender thereof if fully paid:


 


		FIRST:	To the payment of costs and expenses of collection and of all amounts payable to the Trustee under Section 7.06; and



 


		SECOND:	To the payment of the amounts then due and unpaid upon Securities of such series for principal (and premium, if any) and interest,
in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind,
according to the amounts due and payable on such Securities for principal (and premium, if any) and interest, respectively.



 


		Section 6.04	Limitation
on Suits.



 


No holder of any Security of any series shall have any right
by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder,
unless (i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance
thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders
of not less than a majority in aggregate principal amount of the Securities of such series then Outstanding shall have made written
request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder; (iii) such holder or
holders shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities
to be incurred therein or thereby; and (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity,
shall have failed to institute any such action, suit or proceeding and (v) during such 60 day period, the holders of a majority
in principal amount of the Securities of that series (or such amount as shall have acted at a meeting of the holders of Securities
of such series pursuant to the provisions of this Indenture) do not give the Trustee a direction inconsistent with the request;
provided, however, that no one or more of such holders may use this Indenture to prejudice the rights of another holder or to obtain
preference or priority over another holder.


 


 


 






    	 	20 	 



     

    

 


Notwithstanding anything contained herein to the contrary, any
other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium,
if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or
in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such
respective dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security
hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every
other such taker and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any
manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the
holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or
to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of
all holders of Securities of such series. For the protection and enforcement of the provisions of this Section, each and every
Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.


 


		Section 6.05	Rights
and Remedies Cumulative; Delay or Omission Not Waiver.



 


		(a)	Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the
Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Indenture or otherwise established with respect to such Securities.



 


		(b)	No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon
any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a
waiver of any such default or on acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given
by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed
expedient, by the Trustee or by the Securityholders.



 


		Section 6.06	Control
by Securityholders.



 


The holders of a majority in aggregate principal amount of the
Securities of any series at the time Outstanding, determined in accordance with Section 8.01, shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred
on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict with any rule of law
or with this Indenture or be unduly prejudicial to the rights of holders of Securities of any other series at the time Outstanding
determined in accordance with Section 8.01. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline
to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine
that the proceeding so directed would involve the Trustee in personal liability. The holders either (a) through the written consent
of not less than a majority in aggregate principal amount of the Securities of any series at the time Outstanding or (b) by action
at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a majority in aggregate
principal amount of the Securities of such series then Outstanding represented at such meeting, may on behalf of the holders of
all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established
pursuant to Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of,
or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of
such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments
of interest and principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c)) and except in
respect a provision hereof which, under Section 9.02, cannot be modified or amended without the consent of the holders of each
Outstanding Security affected; provided however that this Section shall not limit the right of holders of Securities of a series
to rescind and annul any acceleration as set forth in Section 6.01. Upon any such waiver, the default covered thereby shall be
deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series
shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent
or other default or impair any right consequent thereon. The provisions which otherwise would be automatically deemed to be contained
in this Indenture pursuant to Section (316)(a)(1) of the Trust Indenture Act are hereby expressly excluded from this Indenture,
except to the extent such provisions are expressly included herein.


 


 


 






    	 	21 	 



     

    

 


		Section 6.07	Undertaking
to Pay Costs.



 


All parties to this Indenture agree, and each holder of any
Securities by such holder’s 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 Indenture, or in any suit against the Trustee for any action
taken or omitted by it as Trustee, 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; but
the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or
to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest
on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this
Indenture.


 


ARTICLE VII


 


CONCERNING THE TRUSTEE


 


		Section 7.01	Certain
Duties and Responsibilities of Trustee.



 


		(a)	The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing
of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with
respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and
no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities
of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series
such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a
prudent man would exercise or use under the circumstances in the conduct of his own affairs.



 


		(b)	No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:



 


		(1)	prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of
all such Events of Default with respect to that series that may have occurred:



 


		(i)	the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express
provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the
performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations
shall be read into this Indenture against the Trustee; and



 


 


 






    	 	22 	 



     

    

 


		(ii)	in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions
that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirement of this Indenture;



 


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



 


		(3)	the Trustee 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 not less than a majority in principal amount of the Securities of any series at the time Outstanding
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and



 


		(4)	None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur
personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there
is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms
of this Indenture or adequate indemnity against such risk is not reasonably assured to it.



 


		Section 7.02	Certain
Rights of Trustee.



 


Except as otherwise provided in Section 7.01:


 


		(a)	The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, 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 Company mentioned herein shall be sufficiently evidenced by a Board Resolution
or an instrument signed in the name of the Company, by the President or any Vice President and by the Secretary or an Assistant
Secretary or the Treasurer or an Assistant Treasurer thereof (unless other evidence in respect thereof is specifically prescribed
herein);



 


		(c)	The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;



 


		(d)	The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request,
order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall
have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein
or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of
Default with respect to a series of the Securities (that has not been cured or waived) to exercise with respect to Securities of
that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs;



 


 


 






    	 	23 	 



     

    

 


		(e)	The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture;



 


		(f)	The Trustee 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, bond, security, or other papers or documents, unless requested
in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular
series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time
to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the
Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable
expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon
demand; and



 


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



 


		Section 7.03	Trustee
Not Responsible for Recitals or Issuance of Securities.



 


		(a)	The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes
no responsibility for the correctness of the same.



 


		(b)	The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.



 


		(c)	The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds
of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this
Indenture or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other
than the Trustee.



 


		Section 7.04	May Hold
Securities.



 


The Trustee or any paying agent or Security Registrar, in its
individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not
Trustee, paying agent or Security Registrar.


 


		Section 7.05	Moneys
Held in Trust.



 


Subject to the provisions of Section 11.05, all moneys received
by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest
on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.


 


 



 






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		Section 7.06	Compensation
and Reimbursement.



 


		(a)	The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation
(which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company,
and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created
and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly
provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation
and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement
or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any loss, liability or expense incurred without negligence
or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust,
including the costs and expenses of defending itself against any claim of liability in the premises.



 


		(b)	The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee
for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall
be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except
funds held in trust for the benefit of the holders of particular Securities.



 


		Section 7.07	Reliance
on Officers’ Certificate.



 


Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or
established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed
to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such certificate, in the
absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered
or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.


 


		Section 7.08	Disqualification;
Conflicting Interests.



 


If the Trustee has or shall acquire any “conflicting interest”
within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with
the provisions of Section 310(b) of the Trust Indenture Act.


 


		Section 7.09	Corporate
Trustee Required; Eligibility.



 


There shall at all times be a Trustee with respect to the Securities
issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of
America or any State or Territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as
trustee by the Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus
of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State, Territorial, or
District of Columbia authority. If such corporation 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 Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control
with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with the provisions
of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10.


 


 


 






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		Section 7.10	Resignation
and Removal; Appointment of Successor.



 


		(a)	The Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one or more series
by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid,
to the Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice
of resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument,
in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee
and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within
30 days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction
for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who
has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others similarly
situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any,
as it may deem proper and prescribe, appoint a successor trustee.



 


		(b)	In case at any time any one of the following shall occur:



 


		(1)	the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or



 


		(2)	the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written
request therefor by the Company or by any such Securityholder; or



 


		(3)	the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take
charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation,
then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written
instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee
so removed and one copy to the successor trustee, or, unless the Trustee’s duty to resign is stayed as provided herein, any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder
and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment
of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee
and appoint a successor trustee.



 


		(c)	The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any
time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee
for such series with the consent of the Company.



 


 


 






    	 	26 	 



     

    

 


		(d)	Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series
pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee
as provided in Section 7.11.



 


		(e)	Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series
or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.



 


		Section 7.11	Acceptance
of Appointment By Successor.



 


		(a)	In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so
appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but,
on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver
an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee hereunder.



 


		(b)	In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series,
the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute
and deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (1) shall contain
such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment
of such successor trustee relates, (2) shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to
which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder
by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure
to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation
or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect
to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility
for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture,
and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such
successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer
and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by
such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor
trustee relates.



 


 


 






    	 	27 	 



     

    

 


		(c)	Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this
Section, as the case may be.



 


		(d)	No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified
and eligible under this Article.



 


		(e)	Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of the
succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses
appear upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment
by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.



 


		Section 7.12	Merger,
Conversion, Consolidation or Succession to Business.



 


Any corporation into which the Trustee 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 Trustee
shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions
of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee
then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.


 


		Section 7.13	Preferential
Collection of Claims Against the Company.



 


The Trustee shall comply with Section 311(a) of the Trust Indenture
Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or
been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.


 


ARTICLE VIII



CONCERNING THE SECURITYHOLDERS


 


		Section 8.01	Evidence
of Action by Securityholders.



 


Whenever in this Indenture it is provided that the holders of
a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action (including
the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that
at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may
be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series
in Person or by agent or proxy appointed in writing.


 


 


 






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If the Company shall solicit from the Securityholders of any
series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of Securityholders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall
have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver
or other action may be given before or after the record date, but only the Securityholders of record at the close of business on
the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite
proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date.


 


		Section 8.02	Proof
of Execution by Securityholders.



 


Subject to the provisions of Section 7.01, proof of the execution
of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the holding
by any Person of any of the Securities shall be sufficient if made in the following manner:


 


		(a)	The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to
the Trustee.



 


		(b)	The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security
Registrar thereof.



 


		(c)	The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.



 


		Section 8.03	Who May
be Deemed Owners.



 


Prior to the due presentment for registration of transfer of
any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name
such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security
shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar)
for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest
on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar
shall be affected by any notice to the contrary.


 


		Section 8.04	Certain
Securities Owned by Company Disregarded.



 


In determining whether the holders of the requisite aggregate
principal amount of Securities of a particular series have concurred in any direction, consent of waiver under this Indenture,
the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person
directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities
of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for
the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities
of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged
in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction
of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not a Person directly
or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor.
In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to
the Trustee.


 


 


 






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		Section 8.05	Actions
Binding on Future Securityholders.



 


At any time prior to (but not after) the evidencing to the Trustee,
as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal amount
of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of
that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may,
by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as
concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding
upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration
of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security.
Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series
specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the
holders of all the Securities of that series.


 


		Section 8.06	Purposes
for Which Meetings May Be Called.



 


A meeting of holders of any series of Securities may be called
at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Indenture to be made, given or taken by holders of such series of Securities.


 


Notwithstanding anything contained in this Article VIII, the
Trustee may, during the pendency of a Default or an Event of Default, call a meeting of holders of any series of Securities in
accordance with its standard practices.


 


		Section 8.07	Call Notice
and Place of Meetings.



 


		(a)	The Trustee may at any time call a meeting of holders of any series of Securities for any purpose specified in Section 8.06
hereof, to be held at such time and at such place in The City of New York. Notice of every meeting of holders of any series of
Securities, setting forth the time and the place of such meeting, in general terms the action proposed to be taken at such meeting
and the percentage of the principal amount of the Outstanding Securities of such series which shall constitute a quorum at such
meeting, shall be given, in the manner provided in Section 13.04 hereof, not less than 21 nor more than 180 days prior to the date
fixed for the meeting to holders of Outstanding Securities of such series.



 


		(b)	In case at any time the Company, pursuant to a Board Resolution, or the holders of at least 10% in principal amount of the
Outstanding Securities of any series shall have requested the Trustee to call a meeting of the holders of Securities of such series
for any purpose specified in Section 8.06 hereof, by written request setting forth in reasonable detail the action proposed to
be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days
after receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company
or the holders of Securities of such series in the amount specified, as the case may be, may determine the time and the place in
The City of New York for such meeting and may call such meeting for such purposes by giving notice thereof as provided in paragraph
(a) of this Section.



 


 


 






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		Section 8.08	Persons
Entitled To Vote at Meetings.



 


To be entitled to vote at any meeting of holders of Securities
of a given series, a Person shall be (a) a holder of one or more Outstanding Securities of such series or (b) a Person appointed
by an instrument in writing as proxy for a holder or holders of one or more Outstanding Securities of such series by such holder
or holders. The only Persons who shall be entitled to be present or to speak at any meeting of holders shall be the Persons entitled
to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel.


 


		Section 8.09	Quorum;
Action.



 


The Persons entitled to vote a majority in aggregate principal
amount of the Outstanding Securities of a given series shall constitute a quorum with respect to a meeting of holders of Outstanding
Securities of such series. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting
shall, if convened at the request of holders of Securities of such series, be dissolved. In any other case, the meeting may be
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting.
In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less
than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening
of any adjourned meeting shall be given as provided in Section 8.07(a) hereof, except that such notice need be given only once
and not less than five days prior to the date on which the meeting is scheduled to be reconvened.


 


At a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid, any resolution and all matters (except as limited by the proviso to the first paragraph
of Section 9.02 hereof) shall be effectively passed and decided if passed or decided by the Persons entitled to vote not less than
a majority in aggregate principal amount of Outstanding Securities of a series represented and voting at such meeting with respect
to a meeting of holders of Outstanding Securities of such series.


 


Any resolution passed or decisions taken at any meeting of holders
of Securities duly held in accordance with this Section shall be binding on all the holders of Securities of such series, whether
or not present or represented at the meeting.


 


		Section 8.10	Determination
of Voting Rights; Conduct and Adjournment of Meetings.



 


		(a)	Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable
for any meeting of holders of Securities in regard to proof of the holding of Securities and of the appointment of proxies and
in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other
evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate.



 


		(b)	The Trustee shall, by an instrument in writing, appoint a temporary chairman (which may be the Trustee) of the meeting, unless
the meeting shall have been called by the Company or by holders of Securities of a given series as provided in Section 8.07(b)
hereof, in which case the Company or the holders of Securities of such series calling the meeting, as the case may be, shall in
like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote
of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the
meeting.



 


 


 






    	 	31 	 



     

    

 


		(c)	At any meeting, each holder of a Security of the series in respect of which such meeting is being held or proxy shall be entitled
to one vote for each $1,000 principal amount of Securities of such series held or represented by him; provided, however, that no
vote shall be cast or counted at any meeting in respect of any Security of such series challenged as not Outstanding and ruled
by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a holder
of a Security of such series or proxy.



 


		(d)	Any meeting of holders of Securities duly called pursuant to Section 8.07 hereof at which a quorum is present may be adjourned
from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of the series in respect
of which such meeting is being held represented at the meeting, and the meeting may be held as so adjourned without further notice.



 


		Section 8.11	Counting
Votes and Recording Action of Meetings.



 


The vote upon any resolution submitted to any meeting of holders
of Securities of a given series shall be by written ballots on which shall be subscribed the signatures of the holders of Securities
of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities
of such series held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall
count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings
of each meeting of holders of Securities of such series shall be prepared by the secretary of the meeting and there shall be attached
to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more
Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given
as provided in Section 8.07 hereof and, if applicable, Section 8.09 hereof. Each copy shall be signed and verified by the affidavits
of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company and another to the Trustee
to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and
verified shall be conclusive evidence of the matters therein stated.


 


ARTICLE IX


 


SUPPLEMENTAL INDENTURES


 


		Section 9.01	Supplemental
Indentures Without the Consent of Securityholders.



 


In addition to any supplemental indenture otherwise authorized
by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental
hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders,
for one or more of the following purposes:


 


		(a)	cure any ambiguity, correct or supplement any provision herein which may be inconsistent with any other provision herein or
which is otherwise defective, or make any other provisions with respect to matters or questions arising under this Indenture which
the Company and the Trustee may deem necessary or desirable and which shall not be inconsistent with the provisions of this Indenture;



 


		(b)	to comply with Article X;



 


		(c)	to provide for uncertificated Securities in addition to or in place of certificated Securities;



 


 






    	 	32 	 



     

    

 


		(d)	to add to the covenants of the Company for the benefit of the holders of all or any Series of Securities (and if such covenants
are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely
for the benefit of such series) or to surrender any right or power herein conferred upon the Company;



 


		(e)	to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes
of issue, authentication, and delivery of Securities, as herein set forth;



 


		(f)	to make any change that does not adversely affect the rights of any Securityholder in any material respect;



 


		(g)	to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided
in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or
any series of Securities, or to add to the rights of the holders of any series of Securities; or



 


		(h)	comply with the requirements of the Commission in order to effect or maintain the qualification of this Indenture under the
Trust Indenture Act.



 


The Trustee is hereby authorized to join with the Company in
the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein
contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.


 


Any supplemental indenture authorized by the provisions of this
Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 9.02.


 


		Section 9.02	Supplemental
Indentures With Consent of Securityholders.



 


With the written consent of the holders of at least a majority
in aggregate principal amount of the Outstanding Securities of any series or by action at a meeting of holders of the Securities
of such series in accordance with Section 8.09, by the holders of a majority in aggregate principal amount of the Securities of
such series then Outstanding represented at such meeting, the Company, when authorized by Board Resolutions, and the Trustee may
from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions
of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.01
the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture
shall, without the consent of the holders of each Security then Outstanding and affected thereby, (i) extend the fixed maturity
of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest
thereon, or reduce any premium payable upon the redemption thereof, (ii) reduce the aforesaid percentage of Securities, the holders
of which are required to consent to any such supplemental indenture, or any consent or waiver, (iii) reduce the principal amount
of discount securities payable upon acceleration of the maturity of any Securities of any series or (iv) make the principal of
or premium or interest on any Security of a series payable in currency or currency units other than that stated in the Securities
of such series.


 


It shall not be necessary for the consent of the Securityholders
of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such consent shall approve the substance thereof.


 


 


 






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		Section 9.03	Effect
of Supplemental Indentures.



 


Upon the execution of any supplemental indenture pursuant to
the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under
this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined,
exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and
all purposes.


 


		Section 9.04	Securities
Affected by Supplemental Indentures.



 


Securities of any series affected by a supplemental indenture,
authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange upon
which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of that series so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification
of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and
delivered in exchange for the Securities of that series then Outstanding.


 


		Section 9.05	Execution
of Supplemental Indentures.



 


Upon the request of the Company, accompanied by its Board Resolutions
authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of
Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental
indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture
or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture.
The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any supplemental
indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that
it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such
Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms
of a series of Securities pursuant to Section 2.01 hereof.


 


Promptly after the execution by the Company and the Trustee
of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit by mail, first class postage
prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series
affected thereby as their names and addresses appear upon the Security Register. Any failure of the Trustee to mail such notice,
or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.


 


ARTICLE X


 


SUCCESSOR ENTITY


 


		Section 10.01	Company
May Consolidate, Etc.



 


Nothing contained in this Indenture or in any of the Securities
shall prevent any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company)
or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall
prevent any sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an
entirety, or substantially as an entirety, to any other corporation (whether or not affiliated with the Company or its successor
or successors) authorized to acquire and operate the same; provided, however, the Company hereby covenants and agrees that, upon
any such consolidation or merger (in each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer
or other disposition, the due and punctual payment of the principal of (premium, if any) and interest on all of the Securities
of all series in accordance with the terms of each series, according to their tenor and the due and punctual performance and observance
of all the covenants and conditions of this Indenture with respect to each series or established with respect to such series pursuant
to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform
to the provisions of the Trust Indenture Act, as then in effect) satisfactory in form to the Trustee executed and delivered to
the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which
shall have acquired such property.


 


 


 






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		Section 10.02	Successor
Entity Substituted.



 


		(a)	In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor
entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and
punctual payment of the principal of, premium, if any, and interest on all of the Securities of all series Outstanding and the
due and punctual performance of all of the covenants and conditions of this Indenture or established with respect to each series
of the Securities pursuant to Section 2.01 to be performed by the Company with respect to each series, such successor entity shall
succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon
the predecessor corporation shall be relieved of all obligations and covenants under this Indenture and the Securities.



 


		(b)	In case of any such consolidation, merger, sale, conveyance, transfer or other disposition such changes in phraseology and
form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate.



 


		(c)	Nothing contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person
into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise,
of all or any part of the property of any other Person (whether or not affiliated with the Company).



 


		Section 10.03	Evidence
of Consolidation, Etc. to Trustee.



 


The Trustee, subject to the provisions of Section 7.01, may
receive an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or other
disposition, and any such assumption, comply with the provisions of this Article.


 


ARTICLE XI


 


SATISFACTION
AND DISCHARGE


 


		Section 11.01	Satisfaction
and Discharge of Indenture.



 


If at any time: (a) the Company shall have delivered to the
Trustee for cancellation all Securities of a series theretofore authenticated (other than any Securities that shall have been destroyed,
lost or stolen and that shall have been replaced or paid as provided in Section 2.07) and Securities for whose payment money or
Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company (and thereupon
repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a particular
series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become
due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds
the entire amount in moneys or Governmental Obligations sufficient or a combination thereof, sufficient (assuming that no tax liability
will be imposed on the Trustee) in the opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not
theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become
due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be
paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be
of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10,
that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive
to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute
proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.


 


 


 






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		Section 11.02	Discharge
of Obligations.



 


If at any time all such Securities of a particular series not
heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.01 shall
have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations
sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for
cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed
for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the
Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited
with the Trustee the obligations of the Company under this Indenture with respect to such series shall cease to be of further effect
except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4.03, 7.06, 7.10 and 11.05 hereof that shall survive until
such Securities shall mature and be paid thereafter, Sections 7.06 and 11.05 shall survive.


 


		Section 11.03	Deposited
Moneys to be Held in Trust.



 


Subject to Section 11.05, all moneys or Governmental Obligations
deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due,
either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular
series of Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the
Trustee.


 


		Section 11.04	Payment
of Moneys Held by Paying Agents.



 


In connection with the satisfaction and discharge of this Indenture
all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand
of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect
to such moneys or Governmental Obligations.


 


		Section 11.05	Repayment
to Company.



 


Any moneys or Governmental Obligations deposited with any paying
agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium or interest on the Securities
of a particular series that are not applied but remain unclaimed by the holders of such Securities for two years after the date
upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and payable,
shall be repaid to the Company or (if then held by the Company) shall be discharged from such trust in each case, promptly after
the end of any such two-year period or, at the request of the Company, on a later date specified by the Company; and thereupon
the paying agent and the Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations,
and the holder of any of the Securities entitled to receive such payment shall thereafter, as an unsecured general creditor, look
only to the Company for the payment thereof.


 


 


 






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ARTICLE XII


 


IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS


 


		Section 12.01	No Recourse.



 


No recourse under or upon any obligation, covenant or agreement
of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any
incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor
corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood
that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability
whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the
Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized,
or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied
therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution
or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such,
because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition
of, and as a consideration for, the execution of this Indenture and the issuance of such Securities.


 


ARTICLE XIII


 


MISCELLANEOUS PROVISIONS


 


		Section 13.01	Effect
on Successors and Assigns.



 


All the covenants, stipulations, promises and agreements in
this Indenture contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.


 


		Section 13.02	Actions
by Successor.



 


Any act or proceeding by any provision of this Indenture authorized
or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with
like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful
successor of the Company.


 


 


 






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		Section 13.03	Surrender
of Company Powers.



 


The Company by instrument in writing executed by authority of
its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such
power so surrendered shall terminate both as to the Company and as to any successor corporation.


 


		Section 13.04	Notices.



 


Except as otherwise expressly provided herein any notice or
demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the holders
of Securities to or on the Company may be given or served by being deposited first class postage prepaid in a post-office letterbox
addressed (until another address is filed in writing by the Company with the Trustee), as follows: Genius Brands International,
Inc., Attn: Corporate Secretary, 301 N. Canon Drive, Suite 305, Beverly Hills, CA 90210. Any notice, election, request or demand
by the Company or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes,
if given or made in writing at the Corporate Trust Office of the Trustee. Any notice or communication to a holder shall be mailed
by first-class mail to his address shown on the Security Register kept by the Security Registrar.


 


Failure to mail a notice or communication to a holder or any
defect in such notice or communication shall not affect its sufficiency with respect to other holders. If a notice or communication
is mailed or sent in the manner provided above within the time prescribed, it is duly given as of the date it is mailed, whether
or not the addressee receives it, except that notice to the Trustee or the Company shall only be effective upon receipt thereof
by the Trustee or the Company, respectively. If the Company mails a notice or communication to holders of Securities, it shall
mail a copy to the Trustee at the same time.


 


		Section 13.05	Governing
Law.



 


This Indenture and each Security shall be deemed to be a contract
made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said
State.


 


		Section 13.06	Treatment
of Securities as Debt.



 


It is intended that the Securities will be treated as indebtedness
and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention.


 


		Section 13.07	Compliance
Certificates and Opinions.



 


		(a)	Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture,
the Company, shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for in
this Indenture 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 have been complied with, except that in the case of any such application or demand as
to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular
application or demand, no additional certificate or opinion need be furnished.



 


		(b)	Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition
or covenant in this Indenture shall include (1) a statement that the Person making such certificate or opinion has read such covenant
or condition; (2) 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; (3) a statement that, in the opinion of such Person, 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 (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant
has been complied with.



 


 


 






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		Section 13.08	Payments
on Business Days.



 


Except as provided pursuant to Section 2.01 pursuant to a Board
Resolution, and as set forth in an Officers’ Certificate, or established in one or more indentures supplemental to this Indenture,
in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall
not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business
Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the
period after such nominal date.


 


		Section 13.09	Conflict
with Trust Indenture Act.



 


If and to the extent that any provision of this Indenture limits,
qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties
shall control.


 


		Section 13.10	Counterparts.



 


This Indenture may be executed in any number of counterparts,
each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.


 


		Section 13.11	Separability.



 


In case any one or more of the provisions contained in this
Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities,
but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been
contained herein or therein.


 


		Section 13.12	Assignment.



 


The Company will have the right at all times to assign any
of its rights or obligations under this Indenture to a direct or indirect wholly-owned Subsidiary of the Company, provided that,
in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the foregoing, this
Indenture is binding upon and inures to the benefit of the parties thereto and their respective successors and assigns. This Indenture
may not otherwise be assigned by the parties thereto.


 


 


 


 


 






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


 


GENIUS BRANDS INTERNATIONAL, INC.


 


 


By:_________________________

Name:

Title:


 


 


[                                                      ],

As Trustee


 


 


 


By:_________________________

Name:

Title:




 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 


 






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