Form of Roll-up Notes Indenture




 Exhibit 4.7 

 
  

LYONDELL CHEMICAL COMPANY 

as Issuer 

LYONDELLBASELL INDUSTRIES N.V. 

as Company 
 11%
Senior Secured Notes due 2018 
  
  

INDENTURE 
 Dated
as of [    ], 2010 
  

 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION 
 as Trustee 
  

 








 TABLE OF CONTENTS 

ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 
  

					
	SECTION 1.01.	  	Definitions	  	1
	SECTION 1.02.	  	Other Definitions	  	41
	SECTION 1.03.	  	Incorporation by Reference of Trust Indenture Act	  	42
	SECTION 1.04.	  	Rules of Construction	  	42


ARTICLE II 
 THE
NOTES 
  

					
	SECTION 2.01.	  	Amount of Notes; Terms	  	43
	SECTION 2.02.	  	Form and Dating	  	44
	SECTION 2.03.	  	Execution and Authentication	  	44
	SECTION 2.04.	  	Registrar and Paying Agent	  	45
	SECTION 2.05.	  	Paying Agent to Hold Money in Trust	  	45
	SECTION 2.06.	  	Holder Lists	  	45
	SECTION 2.07.	  	Transfer and Exchange	  	46
	SECTION 2.08.	  	Replacement Notes	  	50
	SECTION 2.09.	  	Outstanding Notes	  	51
	SECTION 2.10.	  	[Intentionally Omitted]	  	51
	SECTION 2.11.	  	Cancellation	  	51
	SECTION 2.12.	  	Defaulted Interest	  	51
	SECTION 2.13.	  	CUSIP Numbers, Etc.	  	51
	SECTION 2.14.	  	Calculation of Principal Amount of Notes	  	52


ARTICLE III 

REDEMPTION 
  

					
	 SECTION 3.01.
	  	Optional Redemption	  	52
	SECTION 3.02.	  	Applicability of Article	  	52
	SECTION 3.03.	  	Notices to Trustee	  	52
	SECTION 3.04.	  	Selection of Notes to Be Redeemed	  	52
	SECTION 3.05.	  	Notice of Optional Redemption	  	53
	SECTION 3.06.	  	Effect of Notice of Redemption	  	53
	SECTION 3.07.	  	Deposit of Redemption Price	  	53
	SECTION 3.08.	  	Notes Redeemed in Part	  	54


ARTICLE IV 

COVENANTS 
  

					
	SECTION 4.01.	  	Payment of Notes	  	54
	SECTION 4.02.	  	Reports and Other Information	  	54

  

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	 	  	 	  	Page
	SECTION 4.03.	  	 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock
	  	56
	SECTION 4.04.	  	Limitation on Restricted Payments	  	63
	SECTION 4.05.	  	Dividend and Other Payment Restrictions Affecting Subsidiaries	  	69
	SECTION 4.06.	  	Asset Sales	  	71
	SECTION 4.07.	  	Transactions with Affiliates	  	75
	SECTION 4.08.	  	Change of Control	  	77
	SECTION 4.09.	  	Compliance Certificate	  	79
	SECTION 4.10.	  	Further Instruments and Acts	  	79
	SECTION 4.11.	  	Future Subsidiary Guarantors	  	79
	SECTION 4.12.	  	Liens	  	80
	SECTION 4.13.	  	After-Acquired Property	  	80
	SECTION 4.14.	  	Maintenance of Office or Agency	  	80
	SECTION 4.15.	  	Maintenance of Insurance	  	81
	SECTION 4.16.	  	Covenant Suspension	  	81
	SECTION 4.17.	  	Withholding Taxes.	  	82


ARTICLE V 

SUCCESSOR COMPANY 
  

					
	SECTION 5.01.	  	When Issuer May Merge or Transfer Assets	  	82


ARTICLE VI 

DEFAULTS AND REMEDIES 
  

					
	SECTION 6.01.	  	Events of Default	  	85
	SECTION 6.02.	  	Acceleration	  	87
	SECTION 6.03.	  	Other Remedies	  	87
	SECTION 6.04.	  	Waiver of Past Defaults	  	88
	SECTION 6.05.	  	Control by Majority	  	88
	SECTION 6.06.	  	Limitation on Suits	  	88
	SECTION 6.07.	  	Rights of the Holders to Receive Payment	  	89
	SECTION 6.08.	  	Collection Suit by Trustee	  	89
	SECTION 6.09.	  	Trustee May File Proofs of Claim	  	89
	SECTION 6.10.	  	Priorities	  	89
	SECTION 6.11.	  	Undertaking for Costs	  	89
	SECTION 6.12.	  	Waiver of Stay or Extension Laws	  	90


ARTICLE VII 

TRUSTEE 
  

					
	SECTION 7.01.	  	Duties of Trustee	  	90
	SECTION 7.02.	  	Rights of Trustee	  	91
	SECTION 7.03.	  	Individual Rights of Trustee	  	93
	SECTION 7.04.	  	Trustee’s Disclaimer	  	93
	SECTION 7.05.	  	Notice of Defaults	  	93
	SECTION 7.06.	  	Reports by Trustee to the Holders	  	93

  

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	 	  	 	  	Page
	SECTION 7.07.	  	Compensation and Indemnity	  	93
	SECTION 7.08.	  	Replacement of Trustee	  	94
	SECTION 7.09.	  	Successor Trustee by Merger	  	95
	SECTION 7.10.	  	Eligibility; Disqualification	  	96
	SECTION 7.11.	  	Preferential Collection of Claims Against the Issuer	  	96
	SECTION 7.12.	  	[Intentionally Omitted]	  	96
	SECTION 7.13.	  	Payment of Parallel Debt Pursuant to Dutch Law	  	96


ARTICLE VIII 

DISCHARGE OF INDENTURE; DEFEASANCE 
  

					
	SECTION 8.01.	  	Discharge of Liability on Notes; Defeasance	  	97
	SECTION 8.02.	  	Conditions to Defeasance	  	98
	SECTION 8.03.	  	Application of Trust Money	  	99
	SECTION 8.04.	  	Repayment to Issuer	  	99
	SECTION 8.05.	  	Indemnity for U.S. Government Obligations	  	99
	SECTION 8.06.	  	Reinstatement	  	99


ARTICLE IX 

AMENDMENTS AND WAIVERS 
  

					
	SECTION 9.01.	  	Without Consent of the Holders	  	100
	SECTION 9.02.	  	With Consent of the Holders	  	101
	SECTION 9.03.	  	Compliance with Trust Indenture Act	  	102
	SECTION 9.04.	  	Revocation and Effect of Consents and Waivers	  	102
	SECTION 9.05.	  	Notation on or Exchange of Notes	  	103
	SECTION 9.06.	  	Trustee to Sign Amendments	  	103
	SECTION 9.07.	  	Additional Voting Terms; Calculation of Principal Amount	  	103


ARTICLE X 

RANKING OF NOTE LIENS 
  

					
	SECTION 10.01.	  	Relative Rights	  	103


ARTICLE XI 

COLLATERAL 
  

					
	SECTION 11.01.	  	Security Documents	  	105
	SECTION 11.02.	  	Collateral Agent	  	105
	SECTION 11.03.	  	Authorization of Actions to Be Taken	  	106
	SECTION 11.04.	  	Release of Collateral	  	106
	SECTION 11.05.	  	Filing, Recording and Opinions	  	109
	SECTION 11.06.	  	[Intentionally Omitted.]	  	110
	SECTION 11.07.	  	Powers Exercisable by Receiver or Trustee	  	110
	SECTION 11.08.	  	Release upon Termination of the Issuer’s Obligations	  	110
	SECTION 11.09.	  	Designations	  	110

  

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	 	  	 	  	Page


ARTICLE XII 

GUARANTEE 
  

					
	SECTION 12.01.	  	Guarantee	  	110
	SECTION 12.02.	  	Limitation on Liability	  	112
	SECTION 12.03.	  	Successors and Assigns	  	113
	SECTION 12.04.	  	No Waiver	  	114
	SECTION 12.05.	  	Modification	  	114
	SECTION 12.06.	  	Execution of Supplemental Indenture for Future Note Guarantors	  	114
	SECTION 12.07.	  	Non-Impairment	  	114


ARTICLE XIII 

MISCELLANEOUS 
  

					
	SECTION 13.01.	  	Trust Indenture Act Controls	  	114
	SECTION 13.02.	  	Notices	  	115
	SECTION 13.03.	  	Communication by the Holders with Other Holders	  	115
	SECTION 13.04.	  	Certificate and Opinion as to Conditions Precedent	  	115
	SECTION 13.05.	  	Statements Required in Certificate or Opinion	  	115
	SECTION 13.06.	  	When Notes Disregarded	  	116
	SECTION 13.07.	  	Rules by Trustee, Paying Agent and Registrar	  	116
	SECTION 13.08.	  	Legal Holidays	  	116
	SECTION 13.09.	  	GOVERNING LAW	  	116
	SECTION 13.10.	  	No Recourse Against Others	  	116
	SECTION 13.11.	  	Successors	  	116
	SECTION 13.12.	  	Multiple Originals	  	116
	SECTION 13.13.	  	Table of Contents; Headings	  	117
	SECTION 13.14.	  	Indenture Controls	  	117
	SECTION 13.15.	  	Severability	  	117
	SECTION 13.16.	  	Intercreditor Agreements	  	117
	SECTION 13.17.	  	PATRIOT ACT	  	117
	SECTION 13.18.	  	Force Majeure	  	117
		
	SCHEDULE AND EXHIBIT INDEX	  	
			
	Schedule 4.10	  	Post-Closing Matters	  	
	Exhibit A	  	Form of Note	  	
	Exhibit B	  	Form of Supplemental Indenture Related to Subsidiary Guarantors	  	

  

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 CROSS-REFERENCE TABLE 

 

			
	 TIA

Section
	 	Indenture
Section
	 310(a)(1)
	 	7.10
	  (a)(2)
	 	7.10
	  (a)(3)
	 	N.A.
	  (a)(4)
	 	N.A.
	  (b)
	 	7.08; 7.10
	  (c)
	 	N.A.
	 311(a)
	 	7.11
	  (b)
	 	7.11
	  (c)
	 	N.A.
	 312(a)
	 	2.06
	  (b)
	 	13.03
	  (c)
	 	13.03
	 313(a)
	 	7.06
	  (b)(1)
	 	N.A.
	  (b)(2)
	 	7.06
	  (c)
	 	7.06
	  (d)
	 	4.02; 4.09
	 314(a)
	 	4.02; 4.09
	  (b)
	 	N.A.
	  (c)(1)
	 	13.04
	  (c)(2)
	 	13.04
	  (c)(3)
	 	N.A.
	  (d)
	 	N.A.
	  (e)
	 	13.05
	  (f)
	 	4.10
	 315(a)
	 	7.01
	  (b)
	 	7.05
	  (c)
	 	7.01
	  (d)
	 	7.01
	  (e)
	 	6.11
	 316(a)(last sentence)
	 	13.06
	  (a)(1)(A)
	 	6.05
	  (a)(1)(B)
	 	6.04
	  (a)(2)
	 	N.A.
	  (b)
	 	6.07
	 317(a)(1)
	 	6.08
	  (a)(2)
	 	6.09
	  (b)
	 	2.05
	 318(a)
	 	13.01

 N.A. Means Not Applicable.

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

Indenture. 








 INDENTURE dated as of
[            ], 2010 among LYONDELL CHEMICAL COMPANY, a Delaware corporation (the “Issuer”), LYONDELLBASELL INDUSTRIES N.V., a public limited liability company formed under
the laws of The Netherlands, as the ultimate parent company of the Issuer and as the parent guarantor (the “Company”), each of the other Guarantors named herein, as guarantors, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee
(the “Trustee”) and as Registrar and Paying Agent (the “Paying Agent”). 
 The Issuer has duly
authorized the execution and delivery of this Indenture to provide for the issuance of $3,250,000,000 aggregate principal amount of the Issuer’s 11% Senior Secured Notes due 2018 issued on the date hereof (the “Initial Notes”).

 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.01. Definitions. 

“2014 Indenture” means the indenture dated as of [April 30], 2010 among the Issuer, the Company and
[    ], as trustee, under which the 2014 Notes are issued, as amended, supplemented, modified, extended, restructured, renewed or restated in whole or in part from time to time, in accordance with the terms thereof. 

“2014 Notes” means the [    ]% notes due on December 15, 2014, issued by the Issuer. as
amended, supplemented, modified, extended, restructured, renewed, restated, refinanced, defeased or replaced in whole or in part from time to time. 

“ABL Collateral Agent” means the representative(s) from time to time administering the collateral on behalf of the
lenders under the ABL Facility. 
 “ABL Facility” means the asset based revolving credit agreement dated as
of its effective date among the Issuer, Equistar Chemicals, L.P., Houston Refining L.P., LyondellBasell Acetyls LLC and each other Subsidiary of the Issuer from time to time designated as a “Borrower” thereunder, the
lenders and agents party thereto and Citibank, N.A., as administrative agent, as amended, supplemented, modified, extended, restructured, renewed, restated, refinanced or replaced in whole or in part from time to time. 

“ABL Facility Collateral” will consist of all present and after-acquired inventory, accounts receivable, related
contracts and other rights, deposit accounts into which proceeds of the foregoing are credited and books and records related thereto, together with all proceeds of the foregoing, in each case to the extent of the rights, title and interest therein
of any “Borrower” under the ABL Facility. 
 “ABL Obligations” means all Indebtedness and other
Obligations under the ABL Facility. 
 “Acquired Indebtedness” means, with respect to any specified Person:

 (1) Indebtedness of any other Person existing at the time such other Person is merged, consolidated or
amalgamated with or into or became a Restricted Subsidiary of such specified Person, and 








 (2) Indebtedness secured by a Lien encumbering any asset at the time such
asset is acquired by such specified Person. 
 “Additional First Lien Secured Party” means the holders of any
Additional First Priority Lien Obligations, including the holders of the Notes, and any collateral agent with respect to any Additional First Priority Lien Obligations or Authorized Representative with respect thereto, including the First Lien
Trustee. 
 “Additional First Priority Lien Obligations” means any First Priority Lien Obligations that are
Incurred after the Issue Date (other than Indebtedness Incurred under the Senior Term Loan Facility) and secured by the Common Collateral on a first priority basis pursuant to the Security Documents. 

“Additional Interest” means all additional interest then owing in respect of a Note pursuant to the Registration Rights
Agreement. 
 “Additional Junior Lien Obligations” means any Junior Lien Obligations that are Incurred after
the Issue Date and secured on a basis equal to the Liens securing the Notes, provided such Lien is permitted to be Incurred under the First Lien Indenture, the Senior Term Loan Facility, the ABL Facility and the Indenture. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued from time to time under this Indenture
in accordance with Section 2.01 hereof. 
 “Additional Second Lien Secured Party” means the holders of any
Additional Second Priority Lien Obligation, and any collateral agent with respect to any Additional Second Priority Lien Obligation or Authorized Representative with respect thereto. 

“Additional Second Priority Lien Obligations” means any Second Priority Lien Obligations that are Incurred after the
Issue Date and secured by the Collateral on a second priority basis pursuant to the Security Documents. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent,
Collateral Agent or Co-Registrar, including any permitted successors or assigns thereto. 
 “Applicable
Premium” means, with respect to any Note on any redemption date, the greater of: 
 (1) 1.00% of the
then outstanding principal amount of the Note; and 
 (2) the excess of: (a) the present value at such
redemption date of (i) the redemption price of the Note at May 1, 2013 plus (ii) all required interest payments due on the Note through May 2, 2013 (excluding accrued but unpaid interest but including Additional Interest, if
any), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (b) the then outstanding principal amount of the Note. 

 

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 “Applicable Procedures” means, with respect to any transfer or exchange of
or for beneficial interests in any Global Note, the rules and procedures of the Depositary that apply to such transfer or exchange. 

“Asset Acquisition” means: 

(1) an Investment by the Company or any Restricted Subsidiary of the Company in any other Person pursuant to which such
Person shall become a Restricted Subsidiary of the Company or of any Restricted Subsidiary of the Company, or shall be merged with or into the Company or any Restricted Subsidiary of the Company, or 

(2) the acquisition by the Company or any Restricted Subsidiary of the Company of the assets of any Person (other than a
Restricted Subsidiary of the Company) which constitute all or substantially all of the assets of such Person or comprises any division or line of business of such Person or any other properties or assets of such Person other than in the ordinary
course of business. 
 “Asset Backed Credit Facility” means (i) the ABL Facility; (ii) any credit
facility provided on the basis of the value of inventory, accounts receivable or other current assets (and related documents and intangibles) to the Company or any of its Subsidiaries or similar instrument; and (iii) any similar credit support
agreements or guarantees Incurred from time to time, as amended, supplemented, modified, extended, restructured, renewed, restated, refinanced or replaced in whole or in part from time to time; provided that any credit facility that
refinances or replaces an Asset Backed Credit Facility must comply with clause (ii) of this definition in order to be an Asset Backed Credit Facility; and provided, further, that, if at the time any such refinancing or replacement
is necessary or advisable in the good faith judgment of the Board of Directors of the Company, and an Asset Backed Credit Facility that complies with clause (ii) of this definition is not available on terms considered commercially reasonable
for facilities of this nature (as determined in the good faith judgment of the Board of Directors of the Company), then the ABL Facility may be refinanced with or replaced by any Credit Facility and such Credit Facility shall be an Asset Backed
Credit Facility for purposes hereof. 
 “Asset Sale” means: 

(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related
transactions) of property or assets (including by way of a Sale/Leaseback Transaction) outside the ordinary course of business of the Company or any Restricted Subsidiary of the Company (each referred to in this definition as a
“disposition”) or 
 (2) the issuance or sale of Equity Interests (other than directors’
qualifying shares and shares issued to foreign nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Company or a Restricted Subsidiary of the Company) (whether in a single
transaction or a series of related transactions), 
 in each case other than: 

(a) a disposition of Cash Equivalents or Investment Grade Securities or redundant, surplus, obsolete, damaged or worn out
property or equipment whether now owned or hereafter acquired, in the ordinary course of business; 
  

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 (b) the disposition of all or substantially all of the assets of the Company
in a manner permitted pursuant to Section 5.01 or any disposition that constitutes a Change of Control; 

(c) any Restricted Payment or Permitted Investment that is permitted to be made, and is made, under Section 4.04;

 (d) any sale, conveyance or other disposition of property or assets of the Company or any Restricted
Subsidiary (whether in a single transaction or a series of related transactions), including by way of a Sale/Leaseback Transaction, or issuance or sale of Equity Interests of any Restricted Subsidiary, which assets or Equity Interests so disposed or
issued have an aggregate Fair Market Value of less than $75.0 million; 
 (e) any disposition of property or
assets, or the issuance of securities, by a Restricted Subsidiary of the Company to the Company or by the Company or a Restricted Subsidiary of the Company to a Restricted Subsidiary of the Company; 

(f) (i) any exchange of assets (including a combination of assets and Cash Equivalents) for assets related to a Similar
Business of comparable or greater market value or usefulness to the business of the Company and its Restricted Subsidiaries as a whole, as determined in good faith by the Company and (ii) in the ordinary course of business, any swap of assets,
or lease, assignment or sublease of any real or personal property, in exchange for services (including in connection with any outsourcing arrangements) of comparable or greater value or usefulness to the business of the Company and its Restricted
Subsidiaries as a whole, as determined in good faith by the Company; 
 (g) any foreclosure or any similar action
with respect to any property or other asset of the Company or any of its Restricted Subsidiaries; 
 (h) any sale
of Equity Interests in, or other ownership interests in or assets or property, including Indebtedness, or other securities of, an Unrestricted Subsidiary; 

(i) any lease, assignment, license or sublease which does not materially interfere with the business of the Company and
its Restricted Subsidiaries; 
 (j) any grant of any license of patents, trademarks, know-how or any other
intellectual property which does not materially interfere with the business of the Company and its Restricted Subsidiaries; 

(k) any transfer of accounts receivable and related assets of the type specified in the definition of “Receivables
Financing” (or a fractional undivided interest therein) in a Qualified Receivables Financing; 
 (l) any
financing transaction with respect to property built or acquired by the Company or any Restricted Subsidiary after the Issue Date, including any Sale/Leaseback Transaction or asset securitization permitted by this Indenture; 

(m) dispositions in connection with Permitted Liens; 

(n) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Company or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary 

 

 -4- 









 
acquired its business and assets (having been newly formed in connection with such acquisition), made as part of such acquisition and in each case comprising all or a portion of the consideration
in respect of such sale or acquisition; 
 (o) dispositions of receivables in connection with the compromise,
settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

(p) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or
other claims of any kind; 
 (q) pursuant to buy-sell arrangements or similar agreements between Lyondell China
Holdings Limited of Ningbo ZRCC and Lyondell Chemical Company Ltd.; and 
 (r) any sale, conveyance or other
disposition of property or assets of the Company or any Restricted Subsidiary (whether in a single transaction or a series of related transactions) in connection with the Emergence Transactions. 

“Authorized Representative” means (i) in the case of any Obligations under the Senior Term Loan Facility or the
secured parties under the Senior Term Loan Facility, the Senior Term Loan Collateral Agent, (ii) in the case of the Obligations under the First Lien Notes or the holders of the First Lien Notes, the First Lien Notes Collateral Agent,
(iii) in the case of the ABL Facility, the ABL Collateral Agent and (iv) in the case of any Series of Additional First Priority Lien Obligations that become subject to the First Lien Intercreditor Agreement, the Authorized Representative
named for such Series in the applicable joinder agreement. 
 “Bankruptcy Code” means the United States
Bankruptcy Code, 11 U.S.C. Section 101 et seq., as amended from time to time. 
 “Bankruptcy Court”
means the United States Bankruptcy Court for the Southern District of New York. 
 “Basell GmbH” means Basell
Germany Holdings GmbH and any successor in interest thereto. 
 “Berre Facility” means any receivables-backed
credit or factoring facility entered into by one or more Foreign Subsidiaries (other than Basell GmbH) related to receivables of the refinery located in Berre, France, and any permitted refinancings thereof. 

“Board of Directors” means, as to any Person, the board of directors, supervisory board of such Person, or equivalent
governing body (or, if such Person is a partnership or limited liability company, the board of directors or other governing body of the general partner of such Person or manager) or any duly authorized committee thereof. 

“Business Acquisition” means the acquisition by the Company or any Restricted Subsidiary of the Company of the assets of
any Person (other than a Restricted Subsidiary of the Company) which constitute all or substantially all of the assets of such Person or comprises any division or line of business of such Person or any other properties or assets of such Person.

 “Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are
authorized or required by law to close in New York City, London or The Netherlands. 
  

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 “Capital Stock” means: 

(1) in the case of a corporation, corporate stock or shares; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability
company, partnership or membership interests (whether general or limited); and 
 (4) any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability
in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP. 

“Cases” means the proceedings of LyondellBasell Industries AF S.C.A. and certain of its Subsidiaries and affiliates, as
debtors and debtors-in-possession under Chapter 11. 
 “Cash Equivalents” means: 

(1) U.S. Dollars, pounds sterling, Euros, the national currency of any member state in the European Union or, in the case
of any Foreign Subsidiary that is a Restricted Subsidiary, such local currencies held by it from time to time in the ordinary course of business; 

(2) securities issued or directly and fully guaranteed or insured by the U.S. government or any country that is a member
of the European Union (other than Greece or Portugal) or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; 

(3) certificates of deposit, time deposits and Eurodollar time deposits with maturities of one year or less from the date
of acquisition, bankers’ acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank or trust company having capital and surplus in excess of $250.0 million and whose
long-term debt is rated “A” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency); 

(4) repurchase obligations and reverse repurchase obligations for underlying securities of the types described in clauses
(2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(5) commercial paper issued by a corporation (other than an Affiliate of the Company) rated at least “A-1” or
the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case maturing within one year after the date of acquisition; 

(6) readily marketable direct obligations issued by any state of the United States of America or any political subdivision
thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) in each case with maturities not exceeding two years from
the date of acquisition; 
  

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 (7) Indebtedness issued by Persons (other than the Sponsors or any of their
Affiliates) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s (or reasonably equivalent ratings of another internationally recognized ratings agency) in each case with maturities not exceeding two
years from the date of acquisition; 
 (8) U.S. Dollar-denominated money market funds as defined in
Rule 2a-7 of the General Rules and Regulations promulgated under the Investment Company Act of 1940; 
 (9)
tax-exempt floating-rate option tender bonds backed by letters of credit issued by a national or state bank whose long-term unsecured debt has a rating of AA or better by S&P or Aa2 or better by Moody’s or the equivalent rating by any other
internationally recognized rating agency; and 
 (10) investment funds investing at least 95% of their assets in
securities of the types described in clauses (1) through (9) above. 
 “Catalyst Sale/Leaseback
Transaction” means a Sale/Leaseback Transaction that relates to a catalyst containing one or more precious metals used by the Company or any of its Restricted Subsidiaries in the ordinary course of business. 

“Change of Control” means the occurrence of any of the following: 

(1) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of
the Company and its Subsidiaries, taken as a whole, to any Person other than a Permitted Holder; or 
 (2) the
Company becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than the
Permitted Holders, in a single transaction or in a related series of transactions, by way of acquisition, merger, amalgamation, consolidation, transfer, conveyance or other business combination or purchase of beneficial ownership (within the meaning
of Rule 13d-3 under the Exchange Act, or any successor provision) of more than 50% of the total voting power of the Voting Stock of the Company. 

“Chapter 11” means Chapter 11 of the Bankruptcy Code. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means all property subject or purported to be subject, from time to time, to a Lien under any Security
Documents. 
 “Collateral Agent” means Wells Fargo Bank, National Association, as collateral agent under the
Security Documents, together with its successors in such capacity. 
  

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 “Common Collateral” means, at any time, Collateral in which the holders of
two or more Series of First Priority Lien Obligations (or their respective Authorized Representatives) hold a valid and perfected security interest at such time. If more than two Series of First Priority Lien Obligations are outstanding at any time
and the holders of less than all Series of First Priority Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Common Collateral for those Series of First Priority Lien
Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Common Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time. 

“Company “ means LyondellBasell Industries N.V., a naamloze vennootschap (public limited liability corporation)
formed under the laws of The Netherlands, and any successor in interest thereto. 
 “Consolidated EBITDA”
means, with respect to any Person, for any period, the sum (without duplication) of: 
 (1) Consolidated Net
Income; 
 (2) to the extent Consolidated Net Income has been reduced thereby; 

(a) taxes of such Person and its Restricted Subsidiaries paid or accrued in accordance with GAAP for such period based on
income, profits or capital, including, without limitation, state, franchise, property and similar taxes and foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations), or such equivalent items
in any foreign jurisdiction; 
 (b) Consolidated Interest Expense; 

(c) Consolidated Non-cash Charges; 

(d) the amount of net loss resulting from the payment of any premiums, fees or similar amounts that are required to be
paid under the terms of the instrument(s) governing any Indebtedness upon the repayment, prepayment or other extinguishment of such Indebtedness in accordance with the terms of such Indebtedness; 

(e) any expenses or charges (other than Consolidated Non-cash Charges) related to any issuance of Equity Interests, any
Investment, acquisition, disposition, recapitalization or Incurrence, repayment, amendment or modification of Indebtedness permitted to be Incurred or repaid pursuant to this Indenture (including a refinancing thereof) (in each case, whether or not
successful), including, without limitation, (i) such fees, expenses or charges related to the offering of the Notes and the Credit Facility Indebtedness and other Exit Financing, (ii) any amendment or other modification of the Notes or
other Indebtedness, (iii) any additional interest in respect of the Notes and (iv) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Receivables Financing; and 

(f) business optimization expenses and other restructuring charges, reserves or expenses (which, for the avoidance of
doubt, shall include, without limitation, the effect of inventory optimization programs, facility consolidations, retention, headcount reductions, systems establishment costs, contract termination costs, future lease commitments and excess pension
charges); and 
  

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 (3) the amount of net cost savings projected by such Person in good faith to be realized by
specified actions taken or to be taken prior to or during such period (calculated on a pro forma basis as though such cost savings had been realized on the first day of such period); provided that (x) such cost savings are
reasonably identifiable and factually supportable and (y) such actions have been taken or are to be taken within twelve months of the date of determination to take such action and the benefit is expected to be realized within twelve months of
taking such action; minus 
 (4) any non-cash gains increasing Consolidated Net Income of such Person for such period (excluding
(i) the recognition of deferred revenue or any items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges that reduced EBITDA in any prior period and any items for which cash was received in a prior
period, (ii) items referenced in clause (e) of “Consolidated Net Income” and (iii) gains which have been offset against losses in determining Consolidated Net Income but for which the loss has not been added back as a
Consolidated Non-cash Charge pursuant to the definition of “Consolidated EBITDA”); 
 all as determined on a consolidated basis for
such Person and its Restricted Subsidiaries in accordance with GAAP. 
 Notwithstanding anything herein to the contrary,
Consolidated EBITDA for the Fiscal Quarter ending (i) June 30, 2009 shall be deemed to be $551.0 million, (ii) September 30, 2009 shall be deemed to be $757.0 million and (iii) December 31, 2009 shall be deemed to be
$578.0 million, before giving pro forma effect to any transaction occurring after the Issue Date, as permitted under the definitions of “Fixed Charge Coverage Ratio” and “Secured Indebtedness Leverage Ratio.” 

“Consolidated Interest Expense” means, with respect to any Person for any period, the consolidated interest expense (net
of interest income for such period) of such Person and its Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, to the extent such expense was deducted in computing Consolidated Net Income, including,
without limitation: 
 (1) amortization of original issue discount, 

(2) the interest component of Capitalized Lease Obligations paid, accrued and/or scheduled to be paid or accrued,

 (3) net payments and receipts (if any) pursuant to interest rate Hedging Obligations, 

(4) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or
accrued, and 
 (5) the interest portion of any deferred payment obligation, 

but excluding, in each case, any amortization of fees, debt issuance costs and commissions incurred in connection with the Credit Facilities, any
Receivables Financing, the issuance of the First Lien Notes, the Notes, the Euro Securitization and any other debt issuance. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 
  

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 “Consolidated Net Income” means, with respect to any Person, for any
period: 
 (1) the Net Income of such Person and its Restricted Subsidiaries for such period on a consolidated
basis; plus 
 (2) cash dividends or distributions paid to such Person or any Restricted Subsidiary of
such Person by any other Person (the “Payor”) other than a Restricted Subsidiary, to the extent not otherwise included in Consolidated Net Income, which have not been derived from Indebtedness of the Payor to the extent such
Indebtedness is Guaranteed by such referent Person or any Restricted Subsidiary of such referent Person; 
 provided that there shall be
excluded therefrom, without duplication (but only to the extent included in the calculation of the foregoing): 

(a)(i) any net after-tax income or loss from operating results of discontinued operations as defined by GAAP, and
(ii) any net after-tax gains or losses from sales of discontinued operations; 
 (b) any net after-tax
extraordinary, nonrecurring or unusual gains or losses (less all fees and expenses relating thereto or expenses or charges, any severance expenses, relocation expenses, curtailments or modifications to pension and post-retirement employee benefit
plans, any expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternate uses and fees, expenses or charges relating to facilities closing costs, acquisition integration costs, facilities
opening costs, project start-up costs, business optimization costs, signing, retention or completion bonuses, expenses or charges related to any issuance of Equity Interests, Investment, acquisition, disposition, recapitalization or issuance,
repayment, refinancing, amendment or modification of Indebtedness (in each case, whether or not successful), and all costs and expenses of such Person and its Restricted Subsidiaries Incurred in connection with the Cases and the Exit Financings);

 (c) the Net Income of any Payor, other than a Restricted Subsidiary of such Person or Net Income of such Payor
that is accounted for by the equity method of accounting, except to the extent of cash dividends or distributions paid to such Person or to a Restricted Subsidiary of such Person by such Payor (or to the extent converted into cash); 

(d) the Net Income (but not loss) of any Restricted Subsidiary of such Person that is not a Guarantor to the extent that
the declaration of dividends or similar distributions by that Restricted Subsidiary of that income is restricted; provided, however, that the Net Income of Restricted Subsidiaries shall only be excluded in any calculation of
Consolidated Net Income of the Company as a result of application of this clause (d) if the restriction on dividends or similar distributions results from consensual restrictions other than any restriction contained in clauses (1), (2) and
(4) and, to the extent related to clauses (1), (2) and (4), clause (15) under Section 4.05; 

(e)(i) any restoration to income of any contingency reserve, except to the extent that provision for such reserve was
made out of Consolidated Net Income accrued at any time following the Issue Date; and (ii) any restoration to or deduction from income for changes in estimates related to the post-emergence settlement of pre-petition claims obligations in
relation with Chapter 11 following the Issue Date; 
  

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 (f) in the case of a successor to such Person by consolidation or merger or
as a transferee of such Person’s assets, any gains or losses of the successor corporation prior to such consolidation, merger or transfer of assets; 

(g) any charges or credits relating to any purchase accounting adjustments or to the adoption of fresh start accounting
principles; 
 (h) any (i) one-time non-cash compensation charges, and (ii) non-cash costs or expenses
resulting from stock option plans, employee benefit plans, compensation charges or post-employment benefit plans, or grants or awards of stock, stock appreciation or similar rights, stock options, restricted stock, Preferred Stock or other rights;

 (i) Net Income for such period shall not include the cumulative effect of a change in accounting principles
during such period; 
 (j) any net after-tax gains or losses (less all fees and expenses or charges relating
thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by management of the Company) or reserves relating thereto; 

(k) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of Indebtedness, Hedging Obligations or other derivative instruments entered in relation with the Indebtedness extinguished; 

(l) any gain or loss for such period from currency translation gains or losses or net gains or losses related to currency
remeasurements of Indebtedness (including any net loss or gain resulting from Hedging Obligations for currency exchange risk entered in relation with Indebtedness); and 

(m) any impairment charges or asset write-offs, in each case pursuant to GAAP, and the amortization of intangibles arising
pursuant to GAAP. 
 Notwithstanding the foregoing, for the purpose of Section 4.04 only, there shall be excluded from
Consolidated Net Income any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries of the Company or a Restricted Subsidiary of the Company to the extent such dividends, repayments or transfers
increase the amount of Restricted Payments permitted under Section 4.04(a) pursuant to clause (3)(iv) or (3)(v). 

“Consolidated Net Tangible Assets” means, with respect to any Person, the Total Assets of such Person and its Restricted
Subsidiaries less goodwill and intangibles (other than intangibles arising from, or relating to, intellectual property, licenses or permits (including, but not limited to, emissions rights) of such Person), in each case calculated in accordance with
GAAP, provided that in the event that such Person or any of its Restricted Subsidiaries assumes or acquires any assets in connection with the acquisition by such Person and its Restricted Subsidiaries of another Person subsequent to the
commencement of the period for which the Consolidated Net Tangible Assets is being calculated but prior to the event for which the calculation of the Consolidated Net Tangible Assets is made, then the Consolidated Net Tangible Assets shall be
calculated giving pro forma effect to such assumption or acquisition of assets, as if the same had occurred at the beginning of the applicable period. 
  

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 “Consolidated Non-cash Charges” means, with respect to any Person, for any
period, the consolidated depreciation, amortization and other non-cash expenses of such Person and its Restricted Subsidiaries (including the amortization of prior service costs and actuarial gains and losses related to pensions and other
post-employment benefits) (including any lower-of-cost-or-market adjustments of inventory) reducing Consolidated Net Income of such Person and its Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP,
provided that if any such non-cash expenses represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from Consolidated EBITDA in such future
period to the extent paid, but excluding from this proviso, for the avoidance of doubt, amortization of a prepaid cash item that was paid in a prior period. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases,
dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation,
any obligation of such Person, whether or not contingent: 
 (1) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, 
 (2) to advance or supply funds: 

(a) for the purchase or payment of any such primary obligation; or 

(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or
solvency of the primary obligor; or 
 (3) to purchase property, securities or services primarily for the purpose
of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Credit Facilities” means: 

(1) the Senior Term Loan Facility, 

(2) any Asset Backed Credit Facility; 

(3) any debt facilities or other financing arrangements (including, without limitation, commercial paper facilities) providing for
revolving credit loans, term loans, letters of credit or other Indebtedness, including any notes, mortgages, guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements,
modifications, extensions, renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments
thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted by
Section 4.03) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders; and 

(4) any such agreements, instruments or guarantees governing Indebtedness Incurred to refinance any Indebtedness or commitments referred
to in clauses (1), (2) and (3) above whether by the same or any other lender or group of lenders. 
  

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 “Credit Facility Indebtedness” means any and all amounts payable under or
in respect of the Credit Facilities as amended, restated, supplemented, waived, replaced, restructured, repaid, refunded, refinanced or otherwise modified from time to time (including after termination of the Senior Term Loan Facility), including
principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed in such proceedings),
fees, charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. 

“Currency Agreement” means, with respect to any Person, any foreign exchange contract, currency swap agreement, currency
futures contract, currency option contract, currency derivative or other similar agreement to which such Person is a party or beneficiary. 

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

 “Definitive Note” means a certificated Note registered in the name of the holder thereof and issued in
accordance with Section 2.07(c) hereof, substantially in the form of Exhibit A attached hereto, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the
Global Note” attached thereto. 
 “Depositary” means any Person specified in Section 2.04 hereof as
the Depositary with respect to the Notes, and any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

“Designated Non-cash Consideration” means the Fair Market Value of non-cash consideration received by the Company or one
of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of Cash Equivalents
received in connection with a subsequent sale of such Designated Non-cash Consideration. 
 “Designated Preferred
Stock” means Preferred Stock of the Company or any direct or indirect parent entity of the Company (other than Disqualified Stock), that is issued for cash (other than to the Company or any of its Subsidiaries or an employee stock ownership
plan or trust established by the Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issue date thereof. 

“Discharge of First and Second Priority Lien Obligations” means except to the extent otherwise provided in the Junior
Lien Intercreditor Agreement with respect to the reinstatement or continuation of any First Priority Lien Obligation or Second Priority Lien Obligation under certain circumstances, payment in full in cash (except for contingent indemnities and cost
and reimbursement obligations to the extent no claim has been made) of all First and Second Priority Lien Obligations and, with respect to any letters of credit or letter of credit guaranties outstanding under the First Lien Documents or Second Lien
Documents, delivery of cash collateral or backstop letters of credit in respect thereof in a manner consistent with such First Lien Documents or Second Lien Documents, in each case after or concurrently with the termination of all commitments to
extend credit thereunder, and the termination of all commitments of the First Lien Secured Parties or Second Lien Secured Parties under the First Lien Documents or Second Lien Documents, as the case may be; provided that the Discharge of
First and Second Priority Lien Obligations shall not be deemed to have occurred if such payments are made with the proceeds of other First Priority Lien Obligations or Second Priority Lien Obligations that constitute an exchange or replacement for
or a refinancing of such Obligations, First Priority Lien Obligations or Second Priority Lien Obligations. In the event the First Priority Lien Obligations or Second Priority Lien 

 

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Obligations are modified and the Obligations are paid over time or otherwise modified pursuant to Section 1129 of the Bankruptcy Code, the First Priority Lien Obligations and Second Priority
Lien Obligations shall be deemed to be discharged when the final payment is made, in cash, in respect of such indebtedness and any obligations pursuant to such modified indebtedness shall have been satisfied. 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms (or by the
terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: 

(1) matures or is mandatorily redeemable, pursuant to a sinking fund Obligation or otherwise (other than as a result of a
change of control or asset sale), 
 (2) is convertible or exchangeable for Indebtedness or Disqualified Stock of
such Person, or 
 (3) is redeemable at the option of the holder thereof, in whole or in part (other than solely
as a result of a change of control or asset sale), 
 in each case prior to 91 days after the earlier of the maturity date of the Notes or the
date the Notes are no longer outstanding; provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such
date shall be deemed to be Disqualified Stock; provided, further, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such
employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s
termination, death or disability; provided, further, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified
Stock shall not be deemed to be Disqualified Stock. 
 “Domestic Subsidiary” means a Restricted Subsidiary that
is not a Foreign Subsidiary. 
 “DTC” means The Depository Trust Company, its nominees and successors.

 “Emergence Transactions” means all transactions arising out of the Reorganization Plan and emergence from
Chapter 11, including, but not limited to, Exit Financing. 
 “Equity Interests” means Capital Stock and all
warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

“Equity Offering” means any public or private sale after the Issue Date of common stock or Preferred Stock (other than
Disqualified Stock) of the Company or any direct or indirect parent entity of the Company (to the extent the proceeds thereof are contributed to the Company), as applicable, on a primary basis, other than: 

(1) public offerings with respect to the Company’s or such direct or indirect parent entity’s common stock
registered on Form S-4 or Form S-8; 
 (2) issuances to any Subsidiary of the Company; and 

 

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 (3) any such public or private sale that constitutes an Excluded
Contribution. 
 “Euro Securitization” means the transaction to be dated as of its effective date entered into
in connection with the €450 million revolving securitization facility of trade accounts receivable with Basell Sales and Marketing Company B.V. and Lyondell Chemie Nederland B.V., as sellers, and Basell Polyolefins Collections Ltd., as
receivables purchaser, as such facility may be amended, supplemented, modified, extended, restructured, renewed, restated, refinanced or replaced in whole or in part from time to time. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
 “Exchange Offer” has the meaning set forth in the Registration Rights Agreement.

 “Exchange Offer Registration Statement” has the meaning set forth in the Registration Rights Agreement.

 “Excluded Contributions” means the aggregate net cash proceeds, including cash and the Fair Market Value of
property other than cash, received by the Company after the Issue Date from: 
 (1) contributions to its common
equity capital, and 
 (2) the sale (other than to a Subsidiary of the Company or to any Subsidiary management
equity plan or stock option plan or any other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company, 

in each case designated as Excluded Contributions pursuant to an Officer’s Certificate of the Company on or promptly after the date such capital
contributions are made or the date such Capital Stock is sold, as the case may be. 
 “Excluded Subsidiary”
means (i) any Receivables Subsidiary, (ii) any Qualified Non-Recourse Subsidiary, (iii) any Special Purpose Subsidiary, (iv) any Wholly Owned Domestic Subsidiary that is a subsidiary of a Foreign Subsidiary and (v) any
Domestic Subsidiary of the Company as of the Issue Date or at any time thereafter meeting any one of the following conditions that has been designated by the Issuer as an Excluded Subsidiary in a writing to the Trustee (which designation may be
rescinded by granting a Guarantee in accordance with the requirements of this Indenture): (a) the Total Assets of such Domestic Subsidiary determined as of the end of the fiscal year of the Company most recently ended for which financial
statements are required to be delivered under this Indenture does not exceed $25.0 million, or (b) the Consolidated EBITDA of such Domestic Subsidiary does not exceed $25.0 million, for the period of four consecutive quarters of the Company
most recently ended for which financial statements are required to be delivered pursuant to this Indenture; provided that, at any time or from time to time after the Issue Date, Domestic Subsidiaries (other than a Special Purpose Subsidiary)
shall not be designated as Excluded Subsidiaries to the extent that such Domestic Subsidiaries under this clause (v) would represent, in the aggregate, (a) 5.0% or more of Total Assets of the Company at the end of the most recently ended
fiscal year of the Company or (b) 5.0% or more of the Consolidated EBITDA of the Company for the most recently ended fiscal year, in each case, based upon the most recent financial statements required to be delivered pursuant to this Indenture;
provided, further, that, if the most recent financial statements required to be delivered pursuant to this Indenture for any fiscal quarter occurring after the Issue Date indicate that, by reason of subsequent changes following the
designation of any one or more Restricted Subsidiaries as an Excluded Subsidiary or Excluded Subsidiaries, the foregoing requirements 

 

 -15- 









 
of this definition would not be complied with (other than as a result of an impairment charge), individually or in the aggregate, then the Company shall use commercially reasonable efforts to
promptly (but in any event within 180 days after the date the financial statements are required), rescind such designations as are necessary, and provide such Guarantees as are necessary, so as to comply with the requirements of this Indenture. Any
uncured Default shall not occur until the expiration of such 180 days provided such efforts are used. 
 “Exit
Financing” means that certain financing to finance the Reorganization Plan expected to be composed of the Senior Term Loan Facility, the ABL Facility, the Euro Securitization, the Notes and the First Lien Notes. 

“Fair Market Value” means, with respect to any asset or property, the price which could be negotiated in an
arm’s-length transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction; provided that, other than as expressly set forth in this
Indenture, for purposes of determining the “Fair Market Value” of any property or assets, such Fair Market Value shall be determined by (x) the Company in good faith with respect to property or assets with a Fair Market Value not in
excess of $250.0 million, (y) an opinion as to the Fair Market Value issued by a qualified accounting, appraisal, financial advisory or investment banking firm or (z) the Board of Directors of the Company, as evidenced by a certificate of
an officer of the Company, with respect to property or assets with a Fair Market Value in excess of $250.0 million. 

“First and Second Priority Lien Obligations” means First Priority Lien Obligations and Second Priority Lien Obligations.

 “First Lien Documents” means the credit, guarantee and security documents governing the First Priority Lien
Obligations (and any Additional First Priority Lien Obligations), including, without limitation, this Indenture and the First Lien Security Documents. 

“First Lien Indenture” means the indenture dated as of April 8, 2010 among LBI Escrow Corporation, as predecessor
to the Issuer, the Company and Wilmington Trust FSB, under which the First Lien Notes are issued, as amended, supplemented, modified, extended, restructured, renewed or restated in whole or in part from time to time, in accordance with the terms
thereof. 
 “First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement, dated as of the
Issue Date by and among the Trustee, the Collateral Agent and the Senior Term Loan Collateral Agent, with respect to the Common Collateral, which may be amended from time to time without the consent of the holders of the Notes to add other parties
holding First Priority Lien Obligations permitted to be Incurred under this Indenture, the Senior Term Loan Facility and the First Lien Intercreditor Agreement. 

“First Lien Notes” means the 8% notes due on November 1, 2017, issued by LBI Escrow Corporation, as predecessor to
the Issuer, as amended, supplemented, modified, extended, restructured, renewed, restated, refinanced, defeased or replaced in whole or in part from time to time. 

“First Lien Notes Collateral Agent” means Deutsche Bank Trust Company Americas as collateral agent under the First Lien
Notes. 
 “First Lien Notes Obligations” means Obligations in respect of the First Lien Notes (including other
first lien notes Incurred pursuant to clause (b)(i)(A) of Section 4.03 hereof, the First Lien Indenture and the Security Documents, including, for the avoidance of doubt, Obligations in respect of exchange notes and guarantees thereof.

  

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 “First Lien Secured Parties” means (a) the “Secured
Parties,” as defined in the Senior Term Loan Facility and (b) any Additional First Lien Secured Parties. 

“First Lien Security Documents” means the Security Documents and any other agreement, document or instrument pursuant to
which a Lien is granted or purported to be granted securing First Priority Lien Obligations, and any Additional First Priority Lien Obligations, or under which rights or remedies with respect to such Liens are governed, in each case to the extent
relating to the Collateral securing the First Priority Lien Obligations. 
 “First Lien Trustee” means the
party named as such in the First Lien Indenture until a successor replaces it and, thereafter, means the successor. 

“First Priority Lien Obligations” means (i) all Indebtedness under the Credit Facilities (other than the Asset
Backed Credit Facility and any other Credit Facility Incurred pursuant to clause (iii)(B) of Section 4.03(b)), (ii) the First Lien Notes Obligations and the Obligations in respect of any refunding, refinancing or defeasement of the First
Lien Notes, (iii) all other Obligations of the Company, the Issuer or any Restricted Subsidiary in respect of Hedging Obligations or Obligations in respect of cash management services in each case owing to a Person that is a holder of Credit
Facility Indebtedness or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services, (iv) Additional First Priority Lien Obligations, if any, permitted to be Incurred
under Section 4.03 and (v) Indebtedness under any Oil Indexed Credit Facility Incurred pursuant to clause (iii)(C) of Section 4.03(b). 

“Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio of Consolidated EBITDA of such
Person for such period to the Fixed Charges of such Person for such period. In the event that the Company or any of its Restricted Subsidiaries Incurs, repays, repurchases or redeems any Indebtedness (other than in the case of revolving credit
borrowings or revolving advances under any Receivables Financing, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable period) or issues, repurchases or redeems Disqualified
Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation
Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or
Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. 
 For purposes of making
the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and
any operational changes that the Company or any of its Restricted Subsidiaries has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the
Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and operational changes (and the change of any
associated fixed charge obligations and the change in Consolidated EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted
Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, amalgamation, discontinued operation or operational
change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as
if such Investment, acquisition, disposition, discontinued operation, merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. 

 

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 For purposes of this definition, whenever pro forma effect is to be given to any
event, the pro forma calculations shall be made in good faith by a responsible financial or accounting Officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith
determination of the Company as set forth in an Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements or synergies reasonably expected to result from the applicable event and (2) all
adjustments of the nature set forth as “Reorganization Adjustments” under “Unaudited Consolidated Pro Forma Financial Information” as set forth in the Offering Memorandum for the Company to the extent such adjustments,
without duplication, continue to be applicable to such four-quarter period. 
 If any Indebtedness bears a floating rate of
interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging
Obligations applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible
financial or accounting officer of the Company to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving
credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon
a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Company may designate.

 For the purposes of this definition, any amount in a currency other than U.S. Dollars will be converted to U.S. Dollars based
on the average exchange rate for such currency for the most recent twelve-month period immediately prior to the date of determination or if any such Indebtedness is subject to a Currency Agreement with respect to the currency in which such
Indebtedness is denominated covering principal, premium, if any, and interest on such Indebtedness, the amount of such Indebtedness and such interest and premium, if any, shall be determined after giving effect to all payments in respect thereof
under such Currency Agreement. 
 “Fixed Charges” means, with respect to any Person for any period, the sum,
without duplication, of: 
 (1) Consolidated Interest Expense of such Person for such period, and 

(2) all cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock or
Disqualified Stock of such Person and its Restricted Subsidiaries. 
 “Foreign Subsidiary” means a Restricted
Subsidiary not organized or existing under the laws of the United States of America or any state or territory thereof or the District of Columbia and any direct or indirect Restricted Subsidiary of such Restricted Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements
of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of 
  

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the accounting profession, which are in effect on the Issue Date as adopted by the Company. For the purposes of this Indenture, the term “consolidated” with respect to any Person
shall mean such Person consolidated with its Restricted Subsidiaries, and shall not include any Unrestricted Subsidiary, but the interest of such Person in an Unrestricted Subsidiary will be accounted for as an Investment. 

“Global Note Legend” means the legend set forth in Section 2.07(g)(ii) hereof, which is required to be placed on
all Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, the
Global Notes, substantially in the form of Exhibit A attached hereto, issued in accordance with Section 2.01, 2.07(b), 2.07(d), and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that
is deposited with or on behalf of and registered in the name of the applicable Depositary. 
 “Government
Obligations” means securities that are: 
 (1) direct obligations of the United States of America for
the timely payment of which its full faith and credit is pledged, or 
 (2) obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit Obligation by the United States of America, which, in each case, are not
callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such U.S. government obligations or
a specific payment of principal of or interest on any such U.S. government obligations held by such custodian for the account of the holder of such depository 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 depository receipt from any amount received by the custodian in respect of the U.S. government obligations or the specific payment of principal of or interest on
the U.S. government obligations evidenced by such depository receipt. 
 “Hedging Obligations” means
(a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond
index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions,
cross-currency rate swap transactions, currency options, emission rights, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any
such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement
published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master
Agreement”), including any such obligations or liabilities under any Master Agreement. 
 “holder” or
“noteholder” means the Person in whose name a Note is registered on the Registrar’s books. 

“Incur” means issue, assume, guarantee, incur or otherwise become liable for; provided, however, that any
Indebtedness or Capital Stock of a Person existing at the time such person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a
Subsidiary. 
  

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 “Indebtedness” means, with respect to any Person: 

(1) the principal and premium (if any) of any indebtedness of such Person, whether or not contingent, (a) in respect
of borrowed money, (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof), (c) representing the deferred and
unpaid purchase price of any property (except any such balance that constitutes (i) a trade payable or similar Obligation to a trade creditor Incurred in the ordinary course of business, (ii) any earn-out Obligations until such Obligation
becomes a liability on the balance sheet of such Person in accordance with GAAP and (iii) liabilities accrued in the ordinary course of business), which purchase price is due more than six months after the date of placing the property in
service or taking delivery and title thereto, (d) in respect of Capitalized Lease Obligations, or (e) representing any Hedging Obligations, if and to the extent that any of the foregoing indebtedness (other than letters of credit and
Hedging Obligations) would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(2) to the extent not otherwise included, any Obligation of such Person to be liable for, or to pay, as obligor, guarantor
or otherwise, the Obligations referred to in clause (1) of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and 

(3) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such
Person (whether or not such Indebtedness is assumed by such Person); provided, however, that the amount of such Indebtedness will be the lesser of: (a) the Fair Market Value of such asset at such date of determination, and
(b) the amount of such Indebtedness of such other Person; 
 provided, however, that notwithstanding the foregoing,
Indebtedness shall be deemed not to include (1) Contingent Obligations Incurred in the ordinary course of business and not in respect of borrowed money; (2) deferred or prepaid revenues; (3) purchase price holdbacks in respect of a
portion of the purchase price of an asset to satisfy warranty or other unperformed Obligations of the respective seller; or (4) Obligations under or in respect of a Qualified Receivables Financing or a Qualified Joint Venture Transaction.

 Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without
giving effect to, the effects of Statement of Financial Accounting Standards No. 133 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a
result of accounting for any embedded derivatives created by the terms of such Indebtedness, and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an
Incurrence of Indebtedness under this Indenture. 
 “Indenture” means this Indenture as amended, supplemented,
modified, extended, restructured, renewed or restated in whole or in part from time to time in accordance with the terms herein. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm or consultant, in each case of
nationally recognized standing, that is, in the good faith determination of the Company, qualified to perform the task for which it has been engaged. 
  

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 “Indirect Participant” means a Person who holds a beneficial interest in a
Global Note through a Participant. 
 “Interest Payment Date” has the meaning set forth in Exhibit A
hereto. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 
 “Investment
Grade Securities” means: 
 (1) securities issued or directly and fully guaranteed or insured by the
U.S. government or any agency or instrumentality thereof (other than Cash Equivalents), 
 (2) securities that
have a rating equal to or higher than Baa3 (or equivalent) by Moody’s and BBB- (or equivalent) by S&P, but excluding any debt securities or loans or advances between and among the Company and its Subsidiaries, 

(3) investments in any fund that invests exclusively in investments of the type described in clauses (1) and
(2) which fund may also hold immaterial amounts of cash pending investment and/or distribution, and 
 (4)
corresponding instruments in countries other than the United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of acquisition. 

“Investments” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates)
in the form of loans (including guarantees (other than guarantees of performance made by the Company or any of its Restricted Subsidiaries in connection with a Joint Venture)), advances or capital contributions (excluding accounts receivable, trade
credit and advances to customers and commission, travel and similar advances to officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or
other securities issued by any other Person and investments that are required by GAAP to be classified on the balance sheet of the Company in the same manner as the other investments included in this definition to the extent such transactions
involve the transfer of cash or other property. For purposes of the definition of “Unrestricted Subsidiary” and Section 4.04: 

(1) “Investments” shall include the portion (proportionate to the Company’s equity interest in such
Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal to an amount (if positive) equal to: 

(a) the Company’s “Investment” in such Subsidiary at the time of such redesignation less 

(b) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the
net assets of such Subsidiary at the time of such redesignation; and 
  

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 (2) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Board of Directors of the Company. 

“Issue Date” means [•], 2010. 

“Issuer” means Lyondell Chemical Company, a Delaware corporation, and any successor thereto in accordance with this
Indenture. 
 “Issuer Order” means a written request or order signed on behalf of the Issuer by an Officer of
the Issuer, who must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Issuer, and delivered to the Trustee. 

“Joint Venture” means any joint venture entity, whether a company, unincorporated firm, association, partnership or any
other entity which, in each case, is not a Subsidiary of the Company or any of its Restricted Subsidiaries but in which the Company or a Restricted Subsidiary has a direct or indirect equity or similar interest. 

“Junior Lien Intercreditor Agreement” means the Junior Lien Intercreditor Agreement, entered on the Issue Date by and
among the First Lien Notes Collateral Agent, on its own behalf and on behalf of the First Lien Secured Parties under the First Lien Indenture, the Senior Term Loan Collateral Agent, on its own behalf and on behalf of the First Lien Secured Parties
under the Senior Term Loan Facility, the ABL Collateral Agent, on its own behalf and on behalf of the administrative agent and lenders under the ABL Facility, the trustee under the Notes (the “Notes Trustee” and, together with the
First Lien Notes Collateral Agent, the Senior Term Loan Collateral Agent and the ABL Collateral Agent, the “Applicable Collateral Agents”), on its own behalf and on behalf of the holders of the obligations under the Notes, the
Company, the Issuer and the Pledgors that sets forth the relative priority of the Liens securing any First Priority Lien Obligations, the Liens securing the ABL Obligations and the Liens securing any Junior Lien Obligations, including the Notes
(collectively, the “Applicable Obligations”). 
 “Junior Lien Obligations” means (i) the
Notes, (ii) the Notes Obligations and the Obligations in respect of any refunding, refinancing or defeasement of the Notes, (iii) the 2014 Notes, (iv) the Obligations in respect of the 2014 Notes and the Obligations in respect of any
refunding, refinancing or defeasement of the 2014 Notes and (v) Additional Junior Lien Obligations. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or similar encumbrance of
any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell
or give a security interest; provided that in no event shall an operating lease, rights of set-off or netting arrangements in the ordinary course of business be deemed to constitute a Lien. 

“Limited Recourse Stock Pledge” means the pledge of the Equity Interests in any Joint Venture (that is not a Restricted
Subsidiary) or any Unrestricted Subsidiary to secure non-recourse debt of such Joint Venture or Unrestricted Subsidiary, which pledge is made by a Restricted Subsidiary of the Company, the activities of which are limited to making and managing
Investments, and owning Equity Interests, in such Joint Venture or Unrestricted Subsidiary, but only for so long as its activities are so limited. 

“Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof.

  

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 “Mortgaged Property” means each parcel of Real Property owned, leased or
otherwise held by the Company, the Issuer or any Pledgor intended to be encumbered by a Mortgage to secure any First Priority Lien Obligations as set forth on Annex A of Schedule 4.10 and each Real Property, if any, which shall be subject to a
Mortgage delivered after the Issue Date pursuant to Section 4.13. 
 “Mortgages” means, collectively, the
mortgages, trust deeds, deeds of trust, deeds to secure debt, assignments of leases and rents, and other security documents delivered with respect to Mortgaged Properties, as amended, supplemented, modified, extended, restructured, renewed, restated
or replaced in whole or in part from time to time. 
 “Negromex Receivables Dispositions” means any disposition
of accounts receivable arising from transactions with Industrias Negromex, S.A. de C.V. 
 “Net Income” means,
with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 

“Net Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in
respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash payments received by way of deferred
payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the disposed assets or other consideration received in
any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without limitation, legal, accounting and investment banking fees, and brokerage and
sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing arrangements related thereto), amounts
required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section 4.06(b)(i)) to be paid as a result of such transaction, and any deduction of appropriate amounts to be
provided by the Company as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Company after such sale or other disposition thereof, including, without limitation,
pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“Notes” means the Initial Notes and more particularly means any Note authenticated and delivered under this Indenture.
For all purposes of this Indenture, the term “Notes” shall also include any Additional Notes that may be issued under a supplemental indenture. For purposes of this Indenture, all references to Notes to be issued or authenticated upon
transfer, replacement or exchange shall be deemed to refer to Notes of the applicable series. 
 “Notes
Collateral” has the meaning set forth in the Security Documents. 
 “Notes Obligations” means
Obligations in respect of the Notes, this Indenture and the Security Documents, including, for the avoidance of doubt, Obligations in respect of exchange notes and guarantees thereof. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements (including, without
limitation, reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing any Indebtedness; provided that Obligations with respect to the
Notes shall not include fees or indemnifications in favor of the Trustee and other third parties other than the holders of the Notes. 
  

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 “Offering Memorandum” means the confidential offering memorandum, dated
March 24, 2010, relating to the initial issuance of the First Lien Notes under the First Lien Indenture. 

“Officer” means the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, any Executive
Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of any Person. 

“Officer’s Certificate” means a certificate signed on behalf of any Person by an Officer of such Person , who must
be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of such Person, which meets the requirements set forth in this Indenture. 

“Oil Indexed Credit Facility” means a working capital facility for which availability is conditioned upon the price per
barrel of crude oil that is not less than $125.0 and the proceeds of which are utilized for working capital purposes and related fees and expenses; provided that the First Lien Notes and any other First Priority Lien Obligations are secured
by a Lien ranking at least pari passu with any Lien on assets securing any Oil Indexed Credit Facility and the collateral agent under any Oil Indexed Credit Facility shall have been made party to the First Lien Intercreditor Agreement and any
Oil Indexed Credit Facility shall be subject to the terms thereof. 
 “Opinion of Counsel” means a written
opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Issuer or to the Trustee. Counsel giving any Opinion of Counsel shall be entitled to rely on an Officer’s
Certificate as to any factual matters relevant to such opinion. 
 “Other First Lien Obligations” means other
Indebtedness of the Company and its Restricted Subsidiaries that is equally and ratably secured with the First Lien Notes as permitted by the First Lien Indenture and is designated by the Company as an Other First Lien Obligation; provided
that an authorized representative on behalf of the holders of such Indebtedness has executed joinders to the Security Documents in the form or substantially in the form provided therein. 

“Pari Passu Indebtedness” means: 

(1) with respect to the Issuer, the Notes and any Indebtedness which ranks pari passu in right of payment to the
Notes; and 
 (2) with respect to any Pledgor, its Obligations in respect of the Notes and any Indebtedness which
ranks pari passu in right of payment to such Pledgor’s Obligations in respect of the Guarantees of the Notes. 

“Participants” means with respect to the Notes, institutions that have accounts with DTC or its nominee. 

“PBGC Settlement” means the settlement agreement between the Issuer and the Pension Benefit Guaranty Corporation (or any
successor in interest thereto) as amended, supplemented, modified, extended, restructured, renewed, restated or replaced in whole or in part from time to time. 

“Permitted Holder Group” has the meaning ascribed to such term in the definition of “Permitted Holders.”

  

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 “Permitted Holders” means, at any time, each of (i) the Sponsors,
(ii) any Person that has no material assets other than the Capital Stock of the Company and, directly or indirectly, holds or acquires 100% of the total voting power of the Voting Stock of the Company, and of which no other Person or group
(within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), other than any of the other Permitted Holders specified in clause (i) above, holds more than 50% of the total voting power
of the Voting Stock thereof and (iii) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) the members of which include any of the Permitted Holders specified in clause
(i) above and that, directly or indirectly, holds or acquires beneficial ownership of the Voting Stock of the Company (a “Permitted Holder Group”), so long as (1) each member of the Permitted Holder Group has voting rights
proportional to the percentage of ownership interests held or acquired by such member relative to the other members of the Permitted Holder Group with respect to voting in the election of Directors of the Company or any of its Subsidiaries generally
and (2) no Person or other “group” (other than the Permitted Holders specified in clause (i) above) beneficially owns more than 50% on a fully diluted basis of the Voting Stock held by the Permitted Holder Group. Any Person or
group whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter, together with its Affiliates, constitute an
additional Permitted Holder. 
 “Permitted Investments” means: 

(1) any Investment in the Company or any Restricted Subsidiary; 

(2) any Investment in Cash Equivalents; 

(3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person if as a result of such
Investment (a) such Person becomes a Restricted Subsidiary of the Company, or (b) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or
substantially all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; 

(4) any Investment in securities or other assets not constituting Cash Equivalents and received in connection with an
Asset Sale made pursuant to the provisions of Section 4.06 or any other disposition of assets not constituting an Asset Sale; 

(5) any Investment existing on, or made pursuant to binding commitments existing on, the Issue Date or an Investment
consisting of any extension, modification or renewal of any Investment existing on the Issue Date; provided that the amount of any such Investment may be increased (x) as required by the terms of such Investment as in existence on the
Issue Date or (y) as otherwise permitted under this Indenture; 
 (6) loans and advances to officers,
directors or employees (a) for business-related travel expenses, moving expenses and other similar expenses, including as part of a recruitment or retention plan, in each case Incurred in the ordinary course of business or consistent with past
practice or to fund such Person’s purchase of Equity Interests of the Company or any direct or indirect parent entity of the Company, (b) required by applicable employment laws loans and (c) other loans and advances not to exceed
$25.0 million at any one time outstanding; 
 (7) any Investment acquired by the Company or any of its Restricted
Subsidiaries (a) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization

  

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or recapitalization of the issuer of such other Investment or accounts receivable, or (b) as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to
any secured Investment or other transfer of title with respect to any secured Investment in default; 
 (8)
Hedging Obligations permitted under Section 4.03(b)(xi); 
 (9) any Investment by the Company or any of its
Restricted Subsidiaries in a Similar Business or in Joint Ventures having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (9) that are at that time outstanding, not to exceed the greater of
(x) $1,000.0 million and (y) 4.50% of the Consolidated Net Tangible Assets of the Company at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent
changes in value, plus 100% of the aggregate amount received by the Company or any Restricted Subsidiary in cash and the Fair Market Value of property other than cash received by the Company or any Restricted Subsidiary with respect to any
Investment made pursuant to this clause (9); provided, however, that if any Investment pursuant to this clause (9) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such
Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this
clause (9) for so long as such Person continues to be a Restricted Subsidiary; 
 (10) additional
Investments by the Company or any of its Restricted Subsidiaries having an aggregate Fair Market, taken together with all other Investments made pursuant to this clause (10) that are at that time outstanding, not to exceed the greater of
(x) $350.0 million and (y) 1.50% of the Consolidated Net Tangible Assets of the Company at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent
changes in value), plus 100% of the aggregate amount received by the Company or any Restricted Subsidiary in cash and the Fair Market Value (as determined in good faith by the Company) of property other than cash received by the
Company or any Restricted Subsidiary with respect to any Investment made pursuant to this clause (10); provided, however, that if any Investment pursuant to this clause (10) is made in any Person that is not a Restricted
Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and
shall cease to have been made pursuant to this clause (10) for so long as such Person continues to be a Restricted Subsidiary; 

(11) Investments the payment for which consists of Equity Interests of the Company (other than Disqualified Stock) or any
direct or indirect parent of the Company, as applicable; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under clause (3)(ii) or (iii) under Section 4.04(a);

 (12) Investments consisting of the licensing or contribution of intellectual property pursuant to joint
marketing arrangements with other Persons; 
 (13) Investments consisting of or to finance purchases and
acquisitions of inventory, supplies, materials, services or equipment or purchases of contract rights or licenses or leases of intellectual property; 

(14) any Investment in connection with a Qualified Receivables Financing, including Investments in a Receivables
Subsidiary, of funds held in accounts permitted or required by the 
  

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arrangements governing such Qualified Receivables Financing or any related Indebtedness and, to the extent constituting an Investment, the acquisition of accounts receivable that have been sold,
transferred or otherwise disposed of in a Receivables Financing, including the repurchase of accounts receivable by the Company or any of its Subsidiaries or other payment obligations of the Company or any Restricted Subsidiary of the Company
pursuant to Standard Securitization Undertakings; 
 (15) any Investment in an entity or purchase of a business
or assets in each case owned (or previously owned) by a customer of a Restricted Subsidiary as a condition or in connection with such customer (or any member of such customer’s group) contracting with a Restricted Subsidiary, in each case in
the ordinary course of business; 
 (16) Investments of a Restricted Subsidiary of the Company acquired after the
Issue Date or of an entity merged into, amalgamated with, or consolidated with the Company or a Restricted Subsidiary of the Company in a transaction that is not prohibited by Section 5.01 after the Issue Date to the extent that such
Investments were not made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

(17) any Investment in any Subsidiary of the Company or any Joint Venture in connection with intercompany cash management
arrangements or related activities arising in the ordinary course of business; 
 (18) Investments through the
licensing contribution in a Person that is or will be as a result of such Investment a Joint Venture or Investments through the licensing, contribution or transactions that economically result in a contribution in kind of intellectual property
pursuant to Joint Venture arrangements, in each case in the ordinary course of business; 
 (19) purchase of
shares of Royal Dutch Shell plc and BASF AG required to satisfy Basell B.V.’s obligations under its stock option plans as such plans and stock appreciation rights were in effect on the Issue Date; 

(20) a transaction to the extent constituting an Investment that is permitted by and made in accordance with clauses
(xii) and (xiii) of Section 4.04(b); 
 (21) any Investment in connection with a Structured
Financing Transaction; 
 (22) a transaction to the extent constituting an Investment that is permitted by and
made in accordance with clause (38) of the definition of “Permitted Liens”; 
 (23) any
transaction to the extent it constitutes an Investment that is permitted by and made in accordance with Section 4.07(b) (except transactions described in clauses (ii), (iv), (v), (ix)(B), (xv) and (xix) of such Section ); and

 (24) any Qualified Joint Venture Transaction. 

“Permitted Liens” means, with respect to any Person: 

(1) pledges or deposits by such Person under worker’s compensation laws, unemployment insurance laws or similar
legislation, or good faith pledges, deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person 

 

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is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or
deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

(2) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, in each case for sums not
yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review;

 (3) Liens for taxes, assessments or other governmental charges not yet due or payable or subject to penalties
for nonpayment or which are being contested in good faith by appropriate proceedings; 
 (4) Liens in favor of
issuers of performance bonds, surety bonds, bid bonds, letters of credit or similar instruments issued pursuant to the request of and for the account of such Person in the ordinary course of its business or with respect to statutory, regulatory,
contractual or warranty requirements; 
 (5) minor survey exceptions, minor encumbrances, easements or
reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct
of the business of such Person or to the ownership of its properties which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in
the operation of the business of such Person; 
 (6) (A) Liens on assets of a Restricted Subsidiary that is not a
Guarantor securing Indebtedness of such Restricted Subsidiary permitted to be Incurred pursuant to Section 4.03, (B) Liens securing First Priority Lien Obligations in an aggregate principal amount not to exceed the greater of (x) the
aggregate principal amount of Indebtedness permitted to be Incurred pursuant to clauses (i), (iii)(A) and (iii)(C) of Section 4.03(b) and (y) the maximum principal amount of Indebtedness that, as of the date such Indebtedness was
Incurred, and after giving effect to the Incurrence of such Indebtedness and the application of proceeds therefrom on such date, would not cause the Secured Indebtedness Leverage Ratio of the Company to exceed 2.25 to 1.00, (C) Liens securing
Indebtedness permitted to be Incurred pursuant to clause (iii)(B), (v)(A), (v)(B), (xiii), (xxi) or (xxv) of Section 4.03(b) (provided that (1) in the case of clause (iii)(B), any Lien on Notes Collateral securing
Indebtedness under the ABL Facility, or any refinancing or replacement thereof, must be expressly subject to the terms of the Junior Lien Intercreditor Agreement, (2) in the case of clause (v)(A), such Lien extends only to the assets
and/or Capital Stock, the acquisition, lease, construction, repair, replacement or improvement of which is financed thereby and any proceeds or products thereof, (3) in the case of clause (xxi), such Lien does not extend to the property or
assets of any Subsidiary of the Company other than a Foreign Subsidiary, (4) in the case of clause (v)(B) such Lien applies solely to acquired property or asset of the acquired entity, as the case may be, and (5) in the case of clause
(xxv), such Lien does not extend to the property or assets of the Company or any Restricted Subsidiary of the Company organized under the laws of any jurisdiction other than Australia) and (D) Liens securing the First Lien Notes Obligations;

 (7) Liens existing on the Issue Date (other than Liens in favor of the lenders under the Senior Term Loan
Facility and under the ABL Facility); 
  

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 (8) Liens on assets, property or shares of stock of a Person at the time
such Person becomes a Subsidiary; provided, however, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however,
that such Liens may not extend to any other property owned by the Company or any Restricted Subsidiary of the Company; 

(9) Liens on assets or property at the time the Company or a Restricted Subsidiary of the Company acquired the assets or
property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Company or any Restricted Subsidiary; provided that such Liens are not created or Incurred in connection with, or in contemplation of,
such acquisition; provided, further that the Liens may not extend to any other property owned by the Company or any Restricted Subsidiary; 

(10) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Company or a Restricted
Subsidiary permitted to be Incurred in accordance with Section 4.03; 
 (11) Liens securing Hedging
Obligations not Incurred in violation of this Indenture; provided that with respect to Hedging Obligations relating to Indebtedness, such Lien extends only to the property securing such Indebtedness; 

(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person’s
obligations in respect of bankers’ acceptances, tender, bid, judgment, appeal, performance or governmental contract bonds and completion guarantees, surety, standby letters of credit and warranty and contractual service obligations of a like
nature, trade letters of credit and documentary letters of credit and similar bonds or guarantees provided by the Company or any Subsidiary of the Company; 

(13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of
the Company or any of its Restricted Subsidiaries; 
 (14) Liens arising from Uniform Commercial Code financing
statement filings regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course of business or other precautionary Uniform Commercial Code financing statement filings; 

(15) Liens in favor of the Company, the Issuer or any Guarantor; 

(16) Liens on accounts receivable and related assets of the type specified in the definition of “Receivables
Financing” Incurred in connection with a Qualified Receivables Financing to the extent permitted by the covenant described under Section 4.03; 

(17) Liens securing insurance premium financing arrangements; provided, however, that such Lien is limited
to the applicable insurance carriers; 
 (18) Liens on the Equity Interests of Unrestricted Subsidiaries;

 (19) leases, licenses, subleases or sublicenses granted to others in the ordinary course of business;

 (20) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive
refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, 
  

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of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8), (9), (10), (11) and (15); provided, however, that (x) such new Lien shall be
limited to all or part of the same property that secured the original Lien (plus improvements on such property), (y) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A) the
outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8), (9), (10), (11) and (15) at the time the original Lien became a Permitted Lien under this Indenture, and (B) an
amount necessary to pay any fees and expenses, including premiums, (including tender premiums) and original issue discount, related to such refinancing, refunding, extension, renewal or replacement and (z) Junior Lien Obligations shall not be
refinanced with First Priority Lien Obligations; provided, further, however, that in the case of any Liens to secure any refinancing, refunding, extension or renewal of Indebtedness secured by a Lien referred to in
clause (6)(B) or (C) above, the principal amount of any Indebtedness Incurred for such refinancing, refunding, extension or renewal shall be deemed secured by a Lien under clause (6)(B) or (C) and not this clause (20) for
purposes of determining the principal amount of Indebtedness outstanding under clause (6)(B) or (C) above and for purposes of the definition of “Secured Credit Facility Indebtedness”; 

(21) Liens on equipment of the Company or any Restricted Subsidiary granted in the ordinary course of business to the
Company’s or such Restricted Subsidiary’s client at which such equipment is located; 
 (22) judgment
and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; 

(23) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods
entered into in the ordinary course of business; 
 (24) Liens Incurred to secure cash management services or to
implement cash pooling arrangements in the ordinary course of business; 
 (25) other Liens on assets not
constituting Notes Collateral securing Obligations that do not exceed $75.0 million in aggregate at any time; 

(26) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any Joint
Venture or similar arrangement pursuant to any Joint Venture or similar agreement; 
 (27) any amounts held by a
trustee in the funds and accounts under an indenture securing any revenue bonds issued for the benefit of the Company or any Restricted Subsidiary; 

(28) Liens arising by virtue of any statutory or common law provisions relating to banker’s Liens, rights of set-off
or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; 

(29) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the
course of collection, (ii) attaching to commodity trading accounts or other commodities brokerage accounts Incurred in the ordinary course of business and (iii) in favor of a banking institution arising as a matter of law encumbering
deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 
  

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 (30) Liens solely on any cash earnest money deposits made by the Company or
any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement permitted under this Indenture; 

(31) any netting or set-off arrangements entered into by the Company or any Restricted Subsidiary of the Company in the
ordinary course of its banking arrangements (including, for the avoidance of doubt, cash pooling arrangements) for the purposes of netting debit and credit balances of the Company or any Restricted Subsidiary of the Company, including pursuant to
any Treasury Services Agreement; 
 (32) Liens in favor of customs and revenue authorities arising as a matter of
law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 

(33) Liens deemed to exist in connection with Investments in repurchase agreements permitted under Section 4.03;
provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreements; 

(34) Liens (i) on cash advances in favor of the seller of any property to be acquired in or monies placed in escrow
pursuant to an Investment permitted pursuant to the definition of “Permitted Investments” to be applied against the purchase price for such Investment, (ii) over assets being acquired pursuant to Investments permitted pursuant to the
definition of “Permitted Investments” pending payment in full of the purchase price, (iii) consisting of an agreement to dispose of any property in a disposition permitted pursuant to the definition of “Asset Sale” and
(iv) consisting of intellectual property licenses permitted by clause (18) of the definition of “Permitted Investments”; 

(35) Liens arising by reason of deposits necessary to qualify the Company or any other Restricted Subsidiary of the
Company to conduct business, maintain self insurance or comply with any law and Liens securing the PBGC Settlement; 

(36) any Lien arising as a result of a sale, transfer or other disposal which is an Asset Sale in compliance with
Section 4.06; 
 (37) Liens relating to a Catalyst Sale/Leaseback Transaction; 

(38) Liens relating to any Limited Recourse Stock Pledge; 

(39) Liens relating to any Treasury Services Agreement, Qualified Joint Venture Transaction or Structured Financing
Transaction; 
 (40) Liens securing (i) the Notes and the Notes Obligations, (ii) the 2014 Notes and
the Obligations in respect of the 2014 Notes, and (iii) any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness
secured by any Lien referred to in the foregoing subclauses (i) and (ii); and 
 (41) Liens that are junior
in priority to the Liens securing the Notes pursuant to a Third Lien Intercreditor Agreement. 
  

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

“Pledgor” means any Guarantor other than the Company; provided that upon the release or discharge of such
Subsidiary from its Obligations to pledge its assets and property to secure the Notes in accordance with this Indenture or the Security Documents, such Subsidiary ceases to be a Pledgor. 

“Preferred Stock” means any Equity Interest with preferential right of payment of dividends or upon liquidation,
dissolution, or winding up. 
 “Primary Offering” means an Equity Offering on any investment exchange or any
other sale or issue by way of flotation or public offering or any equivalent circumstances with aggregate net cash proceeds to the Company or contributed to the Company of at least $500.0 million. 

“Project Financings” means, with respect to any project, the Incurrence of Indebtedness relating to the development,
expansion, renovation, upgrade or other modification or construction of such project pursuant to which the providers of such Indebtedness or any trustee or other intermediary on their behalf or beneficiaries designated by any such provider, trustee
or other intermediary are granted security over one or more assets relating to such project for repayment of principal, premium and interest or any other amount in respect of such Indebtedness, including Indebtedness to finance working capital
requirements with respect to any project; provided that any working capital financing shall not be secured by any assets or property included in calculating the Borrowing Base for purposes of Section 4.03(b)(iii)(B). 

“Qualified Joint Venture Transaction” means any transaction in which (i) Indebtedness is owed or incurred by any
Restricted Subsidiary whose activities are limited to holding shares in Joint Ventures (but only to the extent that (a) the creditors under the relevant agreement have no recourse to the Company other than to such Restricted Subsidiary; and
(b) the recourse those creditors have to such Restricted Subsidiary is limited to the proceeds (if any) of dividends received by such Restricted Subsidiary in respect of such Restricted Subsidiary’s investment in such Joint Ventures) or
(ii) involving guarantees by the Company or any Restricted Subsidiary of Indebtedness of a customer or a third party guarantor of such customer’s Indebtedness that are made to a governmental export credit agency, a state development bank
or like governmental agency or organization to the extent that such guarantees are conditioned on a failure to perform by any of the Company, such Restricted Subsidiary or a joint venture under an engineering procurement or construction contract
entered into with such customer or third party guarantor; provided that the aggregate amount of any Indebtedness referenced in this clause (ii) shall not at any time exceed 1.0% of Consolidated Net Tangible Assets of the Company.

 “Qualified Non-Recourse Debt” means Indebtedness that (1) is (a) Incurred by a Qualified
Non-Recourse Subsidiary to finance (whether prior to or within 270 days after) the acquisition, lease, construction, repair, replacement or improvement of any property (real or personal) or equipment (whether through the direct purchase of property
or the Equity Interests of any person owning such property and whether in a single acquisition or a series of related acquisitions) or (b) assumed by a Qualified Non-Recourse Subsidiary, (2) is non-recourse to the Company, the Issuer and
any Pledgor and (3) is non-recourse to any Restricted Subsidiary that is not a Qualified Non-Recourse Subsidiary. 

“Qualified Non-Recourse Subsidiary” means (1) a Restricted Subsidiary that is not a Pledgor and that is formed or
created after the Issue Date in order to finance an acquisition, lease, construction, repair, replacement or improvement of any property or equipment (directly or through one of its Subsidiaries) that secures Qualified Non-Recourse Debt and
(2) any Restricted Subsidiary of a Qualified Non-Recourse Subsidiary. 
  

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 “Qualified Receivables Financing” means any Receivables Financing that
meets the following conditions (including, without limitation, the Euro Securitization, the Berre Facility and the Negromex Receivables Dispositions): 

(1) the Board of Directors of the Company shall have determined in good faith that such Qualified Receivables Financing
(including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Company and its Restricted Subsidiaries; 

(2) all sales of accounts receivable and related assets are made at Fair Market Value; and 

(3) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined
in good faith by the Company) and may include Standard Securitization Undertakings. 
 The grant of a security interest in any
accounts receivable of the Company or any of its Restricted Subsidiaries to secure the ABL Facility, any Credit Facility Indebtedness or any Indebtedness in respect of the Notes shall not be deemed a Qualified Receivables Financing. 

“Rating Agency” means (1) S&P, (2) Moody’s, or (3) if either or both of S&P and Moody’s
shall not then exist, a nationally recognized securities rating agency or agencies, as the case may be, selected by the Company, which shall be substituted for S&P or Moody’s or both, as the case may be. 

“Real Property” means, collectively, all right, title and interests (including any leasehold, mineral or other estate)
in and to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all
buildings, structures, parking areas and improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any
participation interests issued or sold in connection with, and all other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing. 

“Receivables Financing” means any transaction or series of transactions that may be entered into by the Company or any
of its Subsidiaries pursuant to which the Company or any of its Subsidiaries may sell, convey or otherwise transfer to any other Person including to a Receivables Subsidiary, or may grant a security interest in, bank accounts, any accounts
receivable (whether now existing or arising in the future) of the Company or any of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or
other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset
securitization transactions involving accounts receivable and any Hedging Obligations entered into by the Company or any such Subsidiary in connection with such accounts receivable. 

“Receivables Repurchase Obligation” means any Obligation of a seller of receivables in a Qualified Receivables Financing
to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of
any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 
  

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 “Receivables Subsidiary” means a Wholly Owned Restricted Subsidiary of the
Company (or another Person formed for the purposes of engaging in Receivables Financing with the Company in which the Company or any Subsidiary of the Company makes an Investment and to which the Company or any Subsidiary of the Company transfers
accounts receivable and related assets) which engages in no activities other than in connection with the financing of accounts receivable of the Company and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and
other assets relating thereto, and any business or activities incidental or related to such business, and which is designated by the Board of Directors of the Company (as provided below) as a Receivables Subsidiary and: 

(a) no portion of the Indebtedness or any other Obligations (contingent or otherwise) of which (i) is guaranteed by
the Company or any other Subsidiary of the Company (excluding guarantees of Obligations (other than the principal of and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Company
or any other Subsidiary of the Company in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset of the Company or any other Subsidiary of the Company, directly or indirectly, contingently
or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings; 
 (b)
with which neither the Company nor any other Subsidiary of the Company has any material contract, agreement, arrangement or understanding other than on terms which the Company reasonably believes to be no less favorable to the Company or such
Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Company; and 

(c) to which neither the Company nor any other Subsidiary of the Company has any obligation to maintain or preserve such
entity’s financial condition or cause such entity to achieve certain levels of operating results. 
 Any such designation
by the Board of Directors of the Company shall be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors of the Company giving effect to such designation and an Officer’s Certificate
certifying that such designation complied with the foregoing conditions. 
 “Record Date” for the interest or
Additional Interest, if any , payable on any applicable Interest Payment Date April 15 and October 15 (whether or not a Business Day) immediately preceding such Interest Payment Date. 

“Registration Rights Agreement” means the Registration Rights Agreement dated as of the Issue Date relating to the
Notes. 
 “Reorganization Plan” means a plan of reorganization in any of the Cases. 

“Responsible Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of
the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the
time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such Person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of
this Indenture. 
 “Restricted Investment” means an Investment other than a Permitted Investment. 

 

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 “Restricted Subsidiary” means, with respect to any Person, any Subsidiary
of such Person other than an Unrestricted Subsidiary of such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Company. For the avoidance of doubt, the Issuer
shall at all times constitute a Restricted Subsidiary. 
 “S&P” means Standard & Poor’s
Ratings Group or any successor to the rating agency business thereof. 
 “Sale/Leaseback Transaction” means an
arrangement relating to property now owned or hereafter acquired by the Company or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person and the Company or such Restricted Subsidiary leases it
from such Person, other than leases between the Company and a Restricted Subsidiary of the Company or between Restricted Subsidiaries of the Company. 

“SEC” means the Securities and Exchange Commission or any successor agency or commission. 

“Second Lien Documents” means the credit, guarantee and security documents governing the Second Priority Lien
Obligations, including, without limitation, the ABL Facility and the Second Lien Security Documents. 
 “Second Lien
Secured Parties” means (a) the “Secured Parties,” as defined in the ABL Facility and (b) any Additional Second Lien Secured Parties. 

“Second Lien Security Documents” means the Security Documents and any other agreement, document or instrument pursuant
to which a Lien is granted or purported to be granted securing Second Priority Lien Obligations or under which rights or remedies with respect to such Liens are governed, in each case to the extent relating to the collateral securing the Second
Priority Lien Obligations. [To be confirmed]. 
 “Second Priority After-Acquired Property” means any property
of the Company, the Issuer or any Pledgor that constitutes ABL Collateral (other than Excluded Assets). 
 “Second
Priority Lien Obligations” means (i) all Indebtedness under the Asset Backed Credit Facility and any other Credit Facility Incurred pursuant to clause (b)(iii)(B) of Section 4.03 and (ii) Additional Second Priority Lien
Obligations. 
 “Secured Credit Facility Indebtedness” means any Credit Facility Indebtedness that is secured
by a Permitted Lien Incurred or deemed Incurred pursuant to clause (6)(B) of the definition of “Permitted Liens.” 

“Secured Indebtedness” means any Indebtedness secured by a Lien. 

“Secured Indebtedness Leverage Ratio” means, with respect to any Person, at any date the ratio of (i) Secured
Indebtedness constituting First Priority Lien Obligations of such Person and its Restricted Subsidiaries as of such date of calculation (determined on a consolidated basis in accordance with GAAP) to (ii) Consolidated EBITDA of such Person for
the four full fiscal quarters for which internal financial statements are available immediately preceding such date of such calculation. In the event that the Company or any of its Restricted Subsidiaries Incurs, repays, repurchases or redeems any
Indebtedness subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage

  

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Ratio is made (the “Secured Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence,
repayment, repurchase or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Issuer may elect pursuant to an Officer’s Certificate delivered to the Trustee to
treat all or any portion of the commitment under any Indebtedness as being Incurred at such time, in which case any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be an
Incurrence at such subsequent time. 
 For purposes of making the computation referred to above, Investments, acquisitions,
dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and any operational changes that the Company or any of its
Restricted Subsidiaries has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date shall be calculated on a
pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change of any associated Indebtedness and the change in
Consolidated EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or
any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, amalgamation, discontinued operation or operational change, in each case with respect to an operating unit
of a business, that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition,
discontinued operation, merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. 

For purposes of this definition, whenever pro forma effect is to be given to any event, the pro forma calculations shall be
made in good faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an
Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements or synergies reasonably expected to result from the applicable event and (2) all adjustments of the nature set forth as
“Restructuring Adjustments” under “Unaudited Consolidated Pro Forma Financial Information” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter
period. 
 For the purposes of this definition, any amount in a currency other than U.S. Dollars will be converted to U.S.
Dollars based on the average exchange rate for such currency for the most recent twelve-month period immediately prior to the date of determination or if any such Indebtedness is subject to a Currency Agreement with respect to the currency in which
such Indebtedness is denominated covering principal, premium, if any, and interest on such Indebtedness, the amount of such Indebtedness and such interest and premium, if any, shall be determined after giving effect to all payments in respect
thereof under such Currency Agreement. 
 “Securities Act” means the Securities Act of 1933, as amended, and
the rules and regulations of the SEC promulgated thereunder. 
 “Security Documents” means the security
agreements, pledge agreements, collateral assignments, collateral agreements, intercreditor agreements, mortgages and related agreements, as amended, supplemented, modified, extended, restructured, renewed, restated or replaced in whole or in part
from time to time, creating the security interests in the Collateral as contemplated by this Indenture. 
  

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 “Senior Term Loan Collateral Agent” means UBS AG, Stamford Branch, as the
collateral agent under the Senior Term Loan Facility, or its successors. 
 “Senior Term Loan Facility” means
the senior secured term loan facility of the Issuer to be entered into on the Issue Date as amended, supplemented, modified, extended, restructured, renewed, restated, refinanced or replaced in whole or in part from time to time. 

“Series” means (a) with respect to the First Lien Secured Parties, each of (i) the secured parties under the
Senior Term Loan Facility (in their capacities as such), (ii) the holders of the First Lien Notes, the First Lien Notes Collateral Agent and the First Lien Trustee (each in its capacity as such) and (iii) the Additional First Lien Secured
Parties that become subject to the First Lien Intercreditor Agreement after the date hereof that are represented by a common Authorized Representative (in its capacity as such for such Additional First Lien Secured Parties); (b) with respect to
any First Priority Lien Obligations, each of (i) the Obligations under the Senior Term Loan Facility, (ii) the First Lien Notes Obligations and (iii) the Additional First Priority Lien Obligations Incurred pursuant to any applicable
agreement, which pursuant to any joinder agreement, are to be represented under the First Lien Intercreditor Agreement by a common Authorized Representative (in its capacity as such for such Additional First Priority Lien Obligations); and
(c) with respect to any Junior Lien Obligations, each of (i) the Notes Obligations and the Obligations in respect of any refunding, refinancing or defeasement of the Notes and (ii) the Junior Lien Obligations Incurred after the Issue
Date pursuant to any applicable agreement. 
 “Shelf Registration Statement” means the Shelf Registration
Statement as defined in the Registration Rights Agreement. 
 “Significant Subsidiary” means any Restricted
Subsidiary that would be a “Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC (or any successor provision). 

“Similar Business” means a business, the majority of whose revenues are derived from the activities of the Company and
its Subsidiaries as of the Issue Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary thereto. 

“Special Purpose Subsidiary” means any Subsidiary of the Company whose material assets are comprised solely of the
Capital Stock of a Joint Venture, where the pledge of such Capital Stock would be prohibited by any contractual requirement pertaining to such Joint Venture. 

“Specified ABL Facility Assets” means any ABL Facility Collateral, the net proceeds of an Asset Sale of which are
required to be applied as a prepayment of any Asset Backed Credit Facility. 
 “Sponsor” means Apollo Global
Management, LLC and any of its successors in interest or Affiliates. 
 “Standard Securitization Undertakings”
means representations, warranties, undertakings, covenants, indemnities and guarantees of performance entered into by the Company or any Subsidiary of the Company which the Company has determined in good faith to be customary in a Receivables
Financing it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which
the final payment of principal of such security is due and payable, including 
  

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pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency
beyond the control of the issuer unless such contingency has occurred). 
 “Structured Financing Transaction”
means a sale of preferred shares of a Restricted Subsidiary, depositing the proceeds of such sale with a bank and pledging such deposit to guarantee a put and call with respect to such preferred shares. 

“Subordinated Indebtedness” means (a) with respect to the Issuer, any Indebtedness of the Issuer which is by its
terms subordinated in right of payment to the Notes, and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms subordinated in right of payment to Obligations in respect of the Notes. 

“Subsidiary” means, with respect to any Person, (1) any corporation, association or other business entity (other
than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers
or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; (2) any partnership, joint venture or limited
liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is
a controlling general partner or otherwise controls such entity; or (3) with respect to the Company, for so long as the Company or any of its Subsidiaries, individually or in the aggregate, has at least a 50% ownership interest in Lyondell
Bayer Manufacturing Maasvlakle VOF, Lyondell Bayer Manufacturing Maasvlakle VOF. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of
the Company. 
 “Third Lien Intercreditor Agreement” means an intercreditor agreement that sets forth the
relative priority and rights of the Liens junior to the Notes in a manner similar to how the Notes are treated in the Junior Lien Intercreditor Agreement. 

“Third Priority Lien Obligations” means (i) all Indebtedness under the Notes, (ii) the Notes Obligations,
(iii) the 2014 Notes, (iv) the Obligations in respect of the 2014 Notes and the Obligations in respect of any refunding, refinancing or defeasement of the 2014 Notes and (v) Third Priority Lien Obligations that are Incurred after the
Issue Date and secured by the Notes Collateral on a third priority basis pursuant to the Security Documents. 

“TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb)
as in effect on the date of this Indenture. 
 “Total Assets” means, with respect to any Person, the total
consolidated assets of such Person and its Restricted Subsidiaries, without giving effect to any amortization of the amount of intangible assets since the Issue Date, (x) as shown on the most recent balance sheet of such Person, or (y) in
regards to the Company only, as shown on the most recent balance sheet required to be delivered pursuant to Section 4.02. 

“Transfer Restricted Note” means any Transfer Restricted Security as defined in the Registration Rights Agreement.

  

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 “Treasury Rate” means, as of the applicable redemption date, the yield to
maturity as of such redemption date of United States Treasury Securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two
Business Days prior to such redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such redemption date to May 1, 2013;
provided, however, that if the period from such redemption date to May 1, 2013 is less than one year, the weekly average yield on actually traded United States Treasury Securities adjusted to a constant maturity of one year will
be used. 
 “Treasury Services Agreement” means any agreement between the Issuer, any Guarantor or Restricted
Subsidiary and any commercial bank or other financial institution relating to treasury, depository, and cash management services, employee credit card arrangements or automated clearinghouse transfer of funds. 

“Trust Officer” means: 

(1) any officer within the corporate trust department of the Trustee, including any vice president, assistant vice
president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any
corporate trust matter is referred because of such Person’s knowledge of and familiarity with the particular subject, and 

(2) who shall have direct responsibility for the administration of this Indenture. 

“Trustee” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the
successor. 
 “Uniform Commercial Code” or “UCC” means the New York Uniform Commercial Code as
in effect from time to time. 
 “Unrestricted Note” means a Note which is not a Transfer Restricted Note.

 “Unrestricted Subsidiary” means: 

(1) any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the
Board of Directors of such Person in the manner provided below; and 
 (2) any Subsidiary of an Unrestricted
Subsidiary; 
 The Company may designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary
of the Company) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Company or any other Subsidiary of the Company that is
not a Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any Indebtedness pursuant to
which the lender has recourse to any of the assets of the Company or any of its Restricted Subsidiaries (except as permitted under Section 4.03); provided, further, however, that either: 

(a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or 

 

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 (b) if such Subsidiary has consolidated assets greater than $1,000, then
such designation would be permitted under Section 4.04. 
 The Company may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided, however, that immediately after giving effect to such designation: 

(x) (1) the Company could Incur $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio
test described in Section 4.03 or (2) the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries would be greater than such ratio for the Company and its Restricted Subsidiaries immediately prior to such designation,
in each case on a pro forma basis taking into account such designation, and 
 (y) no Event of Default
shall have occurred and be continuing. 
 Any such designation by Company shall be evidenced to the Trustee by promptly filing
with the Trustee a copy of the resolution of the Board of Directors or any committee thereof of the Company giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing provisions.

 “U.S. Dollar Equivalent” means, with respect to any monetary amount in a currency other than U.S. dollars,
at any time for the determination thereof, the amount of U.S. dollars obtained by converting such foreign currency involved in such computation into U.S. dollars at the spot rate for the purchase of U.S. dollars with the applicable foreign currency
as quoted by Reuters at approximately 10:00 A.M. (New York City time) on such date of determination (or if no such quote is available on such date, on the immediately preceding Business Day for which such a quote is available). 

“U.S. Legal Tender” means such coin or currency of the U.S. as at the time of payment shall be legal tender for the
payment of public and private debts. 
 “Voting Stock” of any Person as of any date means the Capital Stock of
such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 
 “Weighted
Average Life to Maturity” means, when applied to any Indebtedness or Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing (1) the sum of the products of the number of years from the
date of determination to the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment, by
(2) the sum of all such payments. 
 “Wholly Owned Domestic Subsidiary” is any Wholly Owned Subsidiary
that is a Domestic Subsidiary. 
 “Wholly Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a
Restricted Subsidiary. 
 “Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of the
outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares or shares required to be held by Foreign Subsidiaries) shall at the time be owned by such Person or by one or more Wholly Owned
Subsidiaries of such Person. 
  

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 SECTION 1.02. Other Definitions. 

 

			
	 Term
	  	 Defined in
Section

		
	 “3-16 Exemption”
	  	11.04(c)
	 “Additional Guarantee”
	  	4.11(a)
	 “Affiliate Transaction”
	  	4.07(a)
	 “Applicable Collateral Agents”
	  	1.01
	 “Asset Sale Offer”
	  	4.06(b)
	 “Authentication Order”
	  	2.03
	 “Bankruptcy Law”
	  	6.01
	 “Borrowing Base”
	  	4.03(b)(iii)(B)
	 “Calculation Date”
	  	1.01
	 “Change of Control Offer”
	  	4.08(c)
	 “Collateral Agreement”
	  	11.01
	 “Collateral Asset Sale Offer”
	  	4.06(b)
	 “Collateral Excess Proceeds”
	  	4.06(b)
	 “covenant defeasance option”
	  	8.01(b)
	 “Covenant Suspension Event”
	  	4.15
	 “Custodian”
	  	6.01
	 “Dutch Security Documents”
	  	7.13(a)
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.06(b)
	 “Guarantee”
	  	12.01(a)
	 “Guaranteed Obligations”
	  	12.01(a)
	 “Guarantor”
	  	12.01(a)
	 “incorporated provision”
	  	13.01
	 “Initial Notes”
	  	Preamble
	 “Investment Grade Status Period”
	  	4.15
	 “legal defeasance option”
	  	8.01(b)
	 “Master Agreement”
	  	1.01
	 “Mortgage Policies”
	  	Schedule 4.10
	 “Notice of Default”
	  	6.01
	 “Offer Period”
	  	4.06(d)
	 “Parallel Debt”
	  	7.13(b)(i)
	 “Paying Agent”
	  	2.04
	 “Payor”
	  	4.17(a)
	 “primary obligations”
	  	1.01
	 “primary obligor”
	  	1.01
	 “Principal Obligations”
	  	7.13(a)
	 “protected purchaser”
	  	2.08
	 “Reference Period”
	  	4.04(a)(3)(i)
	 “Refinancing Indebtedness”
	  	4.03(b)(xvi)
	 “Refunding Capital Stock”
	  	4.04(b)(ii)(A)
	 “Registrar”
	  	2.04
	 “Relevant Taxing Jurisdiction”
	  	4.17(a)
	 “Restricted Payments”
	  	4.04(a)
	 “Retired Capital Stock”
	  	4.04(b)(ii)(A)
	 “Reversion Date”
	  	4.15
	 “Second Commitment”
	  	4.06(b)

  

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	 Term
	  	 Defined in
Section

		
	 “Secured Leverage Calculation Date”
	  	1.01
	 “Successor Company”
	  	5.01(a)(i)
	 “Successor Issuer”
	  	5.01(c)(i)
	 “Successor Pledgor”
	  	5.01(e)(i)
	 “Suspended Covenants”
	  	4.15
	 “Suspension Period”
	  	4.15
	 “Taxes”
	  	4.17(a)
	 “Transfer”
	  	5.01

 SECTION 1.03.
Incorporation by Reference of Trust Indenture Act. This Indenture incorporates by reference certain provisions of the TIA. The following TIA terms have the following meanings: 

“Commission” means the SEC. 

“indenture securities” means the Notes and any Guarantee. 

“indenture security holder” means a holder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Issuer and each Guarantor and any other obligor on the Notes.

 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or
defined by SEC rule have the meanings assigned to them by such definitions. 
 SECTION 1.04. Rules of Construction.
Unless the context otherwise requires: 
 (a) a term has the meaning assigned to it; 

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

(c) “or” is not exclusive; 

(d) “including” means including without limitation; 

(e) words in the singular include the plural and words in the plural include the singular; 

(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; 
  

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 (g) the principal amount of any non-interest bearing or other discount
security at any date shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 

(h) the principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock or
(ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; 

(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP; 

(j) “$” and “U.S. dollars” each refer to United States dollars, or such other money of
the United States of America that at the time of payment is legal tender for payment of public and private debts; 

(k) “euro” or “€” means the currency introduced at the start of the third stage of
economic and monetary union pursuant to the Treaty of Rome establishing the European Community, as amended by the Treaty on European Union, signed at Maastricht on February 7, 1992; and 

(l) whenever in this Indenture or the Notes there is mentioned, in any context, principal, interest or any other amount
payable under or with respect to any Notes, such mention shall be deemed to include mention of the payment of Additional Interest, to the extent that, in such context, Additional Interest is, were or would be payable in respect thereof. 

ARTICLE II 

THE NOTES 

SECTION 2.01. Amount of Notes; Terms. The aggregate principal amount of Notes which may be authenticated and delivered under
this Indenture on the Issue Date is $3,250,000,000. 
 The Notes shall be subject to repurchase by the Issuer pursuant to an
Asset Sale Offer as provided in Section 4.06 hereof or a Change of Control Offer as provided in Section 4.08 hereof. The Notes shall not be redeemable, other than as provided in Article III. 

The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Issuer,
the Guarantors, the Trustee and Agents by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of
this Indenture, the provisions of this Indenture shall govern and be controlling. 
 Additional Notes ranking pari passu
with the Initial Notes may be created and issued under this Indenture from time to time by the Issuer without notice to or consent of the holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same
terms as to status, redemption or otherwise as the Initial Notes, other than the initial payment date; provided that the Issuer’s ability to issue Additional Notes shall be subject to the Issuer and the Company’s compliance with
Sections 4.03 and 4.12 hereof. The Initial Notes and any Additional Notes subsequently issued under this Indenture may not, unless the Issuer so elects, be treated as a single class for all purposes under this Indenture, including, without
limitation, waivers, amendments, redemptions and offers to purchase. Any 
  

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Additional Notes subsequently issued under the Indenture will be not treated as fungible with the Initial Notes of the relevant series for United States federal income tax purposes or under the
laws of any other jurisdiction, unless the Issuer so elects. Unless the context otherwise requires, for all purposes of this Indenture, references to the Notes include any Additional Notes actually issued. 

SECTION 2.02. Form and Dating. 

(a) The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A
attached hereto, and the CUSIP applicable to Transfer Restricted Notes and Unrestricted Notes as set forth in Exhibit A attached hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage.
Each Note shall be dated the date of its authentication. The Notes shall be in minimum denominations of $100,000 and integral multiples of $1,000 in excess thereof. 

(b) Global Notes. Notes issued in global form shall be substantially in the form of Exhibit A attached
hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form shall be substantially in the form of Exhibit A attached hereto (but
without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note shall represent such of the outstanding Notes as shall be specified in the “Schedule of
Exchanges of Interests in the Global Note” attached thereto and each shall provide that it shall represent up to the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding
Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby shall be made by the Registrar or the Custodian, at the direction of the Registrar, in accordance with instructions given by the holder thereof as required by Section 2.07 hereof. 

SECTION 2.03. Execution and Authentication. One Officer shall sign the Notes for the Issuer by manual or facsimile signature.

 If an Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the
Note shall be valid nevertheless. 
 A Note shall not be valid until an authorized signatory of the Trustee manually signs the
certificate of authentication on the Notes in accordance with this Section 2.03. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 

On the Issue Date, the Trustee shall, upon receipt of an Issuer Order (an “Authentication Order”) and an Opinion of
Counsel conforming with Section 314(c) of the TIA, authenticate and deliver the Initial Notes. In addition, at any time, from time to time, the Trustee shall upon receipt of an Authentication Order authenticate and deliver any Additional Notes
for an aggregate principal amount specified in such Authentication Order for such Additional Notes issued hereunder. 
 The
Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Notes. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the
Issuer. Unless limited by the terms of such appointment, an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as an Agent to deal with holders or an Affiliate of the Issuer. The Trustee hereby appoints Wells Fargo Bank, National Association as authenticating agent for the Notes. 

 

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 Notwithstanding the foregoing, except as provided in Section 9.02, all Notes issued
under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote or consent) as one class and no series of Notes will have the right to vote or consent as a separate class on any matter. 

SECTION 2.04. Registrar and Paying Agent. The Issuer shall maintain an office or agency, where (a) Notes may be
presented or surrendered for registration of transfer or for exchange (“Registrar”), (b) Notes may be presented or surrendered for payment and (c) notices and demands to or upon the Issuer in respect of the Notes and this
Indenture may be served. The Paying Agent shall not be the Issuer or an Affiliate of the Issuer. The Registrar shall keep a register of the Notes and of their transfer and exchange. The Issuer, upon notice to the Trustee, may have one or more
Co-Registrars and one or more additional paying agents reasonably acceptable to the Trustee. The term “Paying Agent” includes any additional paying agent, and the term “Registrar” includes any Co-Registrar. The Issuer may change
the Paying Agent or Registrar without notice to any holder. 
 The Issuer shall enter into an appropriate agency agreement with
any Agent not a party to this Indenture, which agreement shall incorporate the provisions of the TIA and implement the provisions of this Indenture that relate to such Agent. The Issuer shall notify the Trustee, in advance, of the name and address
of any such Agent. If the Issuer fails to maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such. 

The Issuer initially appoints Wells Fargo Bank, National Association as the Registrar and Paying Agent with respect to the Notes and
initially appoints [—] as Depositary in each case until such time as such entity has resigned or a successor has been appointed. 

The Issuer may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to the Trustee;
provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such successor Registrar
or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The
Registrar or Paying Agent may resign upon 30 days prior written notice to the Issuer and the Trustee; provided, however, that the Trustee may resign as Paying Agent or Registrar only if the Trustee also resigns as Trustee in accordance
with Section 7.08. 
 SECTION 2.05. Paying Agent to Hold Money in Trust. Prior to 10:00 a.m. New York City time
on each due date of the principal of and interest on any Note, the Issuer shall deposit with the Paying Agent (or if the Issuer or a Wholly Owned Subsidiary is acting as Paying Agent, segregate and hold in trust for the benefit of the Persons
entitled thereto) a sum sufficient to pay such principal and interest when so becoming due. The Issuer shall require the Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of holders
or the Trustee all money held by the Paying Agent for the payment of principal of and interest on the Notes, and shall notify the Trustee of any default by the Issuer in making any such payment. If the Issuer or a Wholly Owned Subsidiary of the
Issuer acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuer at any time may require the Paying Agent to pay all money held by it to the Trustee
and to account for any funds disbursed by such Paying Agent. Upon complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee. 

SECTION 2.06. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list
delivered to it of the names and addresses of holders. If the 
  

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Trustee is not the Registrar, the Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five Business Days before each Interest Payment Date and at such
other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of holders. 

SECTION 2.07. Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. Except as otherwise set forth in this Section 2.07, a Global Note may be
transferred, in whole and not in part, only to another nominee of the Depositary or to a successor thereto or a nominee of such successor thereto. A beneficial interest in a Global Note may not be exchanged for a Definitive Note of the same series
unless (A) the Depositary (x) notifies the Issuer that it is unwilling or unable to continue as Depositary for such Global Note or (y) has ceased to be a clearing agency registered under the Exchange Act, and, in either case, a
successor Depositary is not appointed by the Issuer within 120 days, or (B) there shall have occurred and be continuing a Default with respect to the Notes. Upon the occurrence of any of the preceding events in (A) above, Definitive Notes
delivered in exchange for any Global Note of the same series or beneficial interests therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary (in accordance with its customary
procedures). Global Notes also may be exchanged or replaced, in whole or in part, as provided in Section 2.08 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note of the same series or any portion
thereof, pursuant to this Section 2.07 or Section 2.08 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note, except for Definitive Notes issued subsequent to any of the preceding events in (A) or
(B) above and pursuant to Section 2.07(c) hereof. A Global Note may not be exchanged for another Note other than as provided in this Section 2.07(a); provided, however, beneficial interests in a Global Note may be
transferred and exchanged as provided in Section 2.07(b), (c) or (f) hereof. 
 (b) Transfer and Exchange of
Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures.
Transfers of beneficial interests in the Global Notes also shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i) Transfer of Beneficial Interests in the Same Global Note. [Beneficial interests in any Global Note may be
transferred to Persons who take delivery thereof in the form of a beneficial interest in a Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this
Section 2.07(b)(i).] [Trustee to confirm] 
 (ii) All Other Transfers and Exchanges of Beneficial
Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.07(b)(i) hereof, the transferor of such beneficial interest must deliver to the Registrar either
(A) (1) a written order from a Participant or an Indirect Participant given to the applicable Depositary in accordance with the Applicable Procedures directing such Depositary to credit or cause to be credited a beneficial interest in another
Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such
increase or (B) (1) a written order from a Participant or an Indirect Participant given to the applicable Depositary in accordance with the Applicable Procedures directing such Depositary to cause to be issued a Definitive Note of the same
series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the applicable Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be
registered to effect the transfer or exchange referred to in (1) above. Upon satisfaction of all 
  

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of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, and as set forth
in an Officer’s Certificate, the Registrar shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.07(h) hereof. 

(c) Transfer or Exchange of Beneficial Interests for Definitive Notes. 

(i) [Intentionally Omitted]. 

(ii) [Intentionally Omitted]. 

(iii) [Intentionally Omitted]. 

(iv) Beneficial Interests in Global Notes to Definitive Notes. If any holder of a beneficial interest in a Global
Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon the occurrence of any of the events in subsection
(A) or (B) of Section 2.07(a) hereof and satisfaction of the conditions set forth in Section 2.07(b)(ii) hereof, the Registrar shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly
pursuant to Section 2.07(h) hereof, and the Issuer shall execute and, upon receipt of an Authentication Order in accordance with Section 2.03 hereof, the Trustee shall authenticate and mail to the Person designated in the instructions a
Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.07(c)(iv) shall be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from or through the applicable Depositary and the Participant or Indirect Participant. The Registrar shall mail such Definitive Notes to the
Persons in whose names such Notes are so registered. 
 (d) Transfer and Exchange of Definitive Notes for Beneficial
Interests. 
 (i) [Intentionally Omitted]. 

(ii) [Intentionally Omitted]. 

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

If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraph (iii) above at
a time when a Global Note has not yet been issued, the Issuer shall issue and, upon receipt of an Authentication Order in accordance with Section 2.03 hereof, the Trustee shall authenticate one or more Global Notes in an aggregate principal
amount equal to the principal amount of Definitive Notes so transferred. 
 (e) Transfer and Exchange of Definitive Notes for
Definitive Notes. Upon request by a holder of Definitive Notes and such holder’s compliance with the provisions of this Section 2.07(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting holder shall present or surrender to the Registrar the Definitive Notes 
  


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duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such holder or by its attorney, duly authorized in writing. In addition,
the requesting holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.07(e): 

(i) [Intentionally Omitted]. 

(ii) [Intentionally Omitted]. 

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

(f) Transfer of Transfer Restricted Notes for Unrestricted Notes. Upon request by a holder of a Transfer Restricted Note, the
Registrar shall transfer of a Transfer Restricted Note, in the form of a transfer of a beneficial interest in a Global Note or a Definitive Note to a beneficial interest in a Global Note or Definitive Note, in each case which is an Unrestricted
Note, as otherwise provided herein for transfers of beneficial interests in a Global Note or a Definitive Note to a beneficial interest in a Global Note or a Definitive Note. 

(g) Legends. The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture
unless specifically stated otherwise in the applicable provisions of this Indenture: 
 (i) [Intentionally
Omitted]. 
 (ii) Global Note Legend. Each Global Note shall bear a legend in substantially the
following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07(h) OF THE
INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE

  

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OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.” 
 (iii) [Intentionally Omitted]. 

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

(i) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.03 hereof or at the Registrar’s request. 

(ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a holder of a Definitive
Note for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar
governmental charge payable upon exchange or transfer pursuant to Sections 2.08, 3.08, 4.06, 4.08 and 9.05 hereof). 

(iii) Neither the Registrar nor the Issuer shall be required to register the transfer of or exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 
 (iv) All
Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this
Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 

(v) The Issuer shall not be required (A) to issue, to register the transfer of or to exchange any Notes during a
period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.04 hereof and ending at the close of business on the day of selection, (B) to register the transfer of or to
exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to exchange a Note between a Record Date and the next succeeding Interest
Payment Date. 
  

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 (vi) Prior to due presentment for the registration of a transfer of any
Note, the Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and interest (including
Additional Interest, if any) on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary. 

(vii) Upon surrender for registration of transfer of any Note at the office or agency of the Issuer designated pursuant to
Section 4.14 hereof, the Issuer shall execute, and, upon receipt of an Authentication Order in accordance with Section 2.03 hereof, the Trustee shall authenticate and the Registrar shall mail, in the name of the designated transferee or
transferees, one or more replacement Notes of any authorized denomination or denominations of a like aggregate principal amount. 

(viii) At the option of the holder, Notes may be exchanged for other Notes of any authorized denomination or denominations
of a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate
and the Registrar shall mail, the replacement Global Notes and Definitive Notes which the holder making the exchange is entitled to in accordance with the provisions of Section 2.03 hereof. 

(ix) All certifications, certificates, Officer’s Certificates and Opinions of Counsel required to be submitted to the
Trustee pursuant to this Section 2.07 to effect a registration of transfer or exchange may be submitted by facsimile. 

(x) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions
on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary Participants or beneficial owners of interests in any Global Notes) other
than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary. 

SECTION 2.08. Replacement Notes. If a mutilated Note is surrendered to the Registrar or if the holder of a Note claims that
the Note has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the holder
(a) satisfies the Issuer and the Trustee within a reasonable time after such holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such
request to the Issuer and the Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected purchaser”) and (c) satisfies any other reasonable
requirements of the Trustee. If required by the Trustee or the Issuer, such holder shall furnish an indemnity bond sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee, a Paying Agent and the Registrar from any
loss or liability that any of them may suffer if a Note is replaced and subsequently presented or claimed for payment. The Issuer and the Trustee may charge the holder for their expenses in replacing a Note (including without limitation,
attorneys’ fees and disbursements in replacing such Notes). In the event any such mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due and payable, the Issuer in its discretion may pay such Note instead of
issuing a new Note in replacement thereof. 
 Every replacement Note is an additional obligation of the Issuer. 

 

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 The provisions of this Section 2.08 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Notes. 

SECTION 2.09. Outstanding Notes. Notes outstanding at any time are all Notes authenticated by the Trustee except for those
canceled by the Registrar, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section 13.06, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds
the Note. 
 If a Note is replaced pursuant to Section 2.08 (other than a mutilated Note surrendered for replacement), it
ceases to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof
pursuant to Section 2.08. 
 If a Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
redemption date or maturity date money sufficient to pay all principal and interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from paying
such money to the holders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.10. [Intentionally Omitted]. 

SECTION 2.11. Cancellation. The Issuer at any time may deliver Notes to the Registrar for cancellation. The Registrar and
each Paying Agent and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment or cancellation and shall dispose of canceled Notes in accordance with its customary procedures. The Registrar and each Paying Agent
shall give written notice to the Trustee of any Notes delivered to them and cancelled. Subject to Section 2.08, the Issuer may not issue new Notes to replace Notes it has redeemed, paid or delivered to the Trustee for cancellation. The Trustee
shall not authenticate Notes in place of canceled Notes other than pursuant to the terms of this Indenture. However, if the Company shall acquire any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the
Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this Section 2.11. 

SECTION 2.12. Defaulted Interest. If the Issuer defaults in a payment of interest on the Notes, the Issuer shall pay the
defaulted interest then borne by the Notes (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are holders on a subsequent special record date. The
Issuer shall fix or cause to be fixed any such special record date and payment date to the reasonable satisfaction of the Trustee and shall promptly mail or cause to be mailed to each affected holder a notice that states the special record date, the
payment date and the amount of defaulted interest to be paid. 
 SECTION 2.13. CUSIP Numbers, Etc. The Issuer in
issuing the Notes may use CUSIP numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers in notices of redemption as a convenience to holders; provided, however, that any such notice may state that no
representation is made as to the correctness of such numbers, either as printed on the Notes or as contained in any notice of a redemption that reliance may be placed only on the other identification numbers printed on the Notes and that any such
redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in the CUSIP numbers. 
  

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 SECTION 2.14. Calculation of Principal Amount of Notes. The aggregate principal
amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified percentage of
the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so consented, by
(b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, Section 2.09, Section 9.02 and Section 13.06 of this
Indenture. Any such calculation made pursuant to this Section 2.14 shall be made by the Issuer and delivered to the Trustee pursuant to an Officer’s Certificate. 

ARTICLE III 

REDEMPTION 

SECTION 3.01. Optional Redemption. The Notes may be redeemed, in whole, or from time to time in part, subject to the
conditions and at the redemption prices set forth in Section 5 of the forms of Note set forth in Exhibit A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to
the redemption date. 
 SECTION 3.02. Applicability of Article. Redemption of Notes at the election of the Issuer or
otherwise, as permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this Article. 

SECTION 3.03. Notices to Trustee. If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of
Section 5 of the Note, it shall notify the Trustee, the Registrar and each Paying Agent in writing of (i) the Section of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal
amount of Notes to be redeemed and (iv) the redemption price. The Issuer shall give notice to the Trustee provided for in this paragraph at least 30 days but not more than 60 days before a redemption date if the redemption is pursuant to
Section 5 of the Note, unless a shorter period is acceptable to the Trustee. Such notice shall be accompanied by an Officer’s Certificate and Opinion of Counsel from the Issuer to the effect that such redemption will comply with the
conditions herein, as well as such notice required to be delivered under Section 3.05 below. If fewer than all the Notes are to be redeemed, the record date relating to such redemption shall be selected by the Issuer and given to the Trustee,
which record date shall be not fewer than 15 days after the date of notice to the Trustee. Any such notice may be canceled at any time prior to notice of such redemption being mailed to any holder and shall thereby be void and of no effect.

 SECTION 3.04. Selection of Notes to Be Redeemed. Selection of Notes for redemption will be made by the Trustee on
a pro rata basis by lot of otherwise in accordance with the procedures of the Depositary to the extent practicable; provided that no Notes of $100,000 principal amount or less shall be redeemed in part. 

If less than all the Notes are to be redeemed at any time in connection with an optional redemption, the Trustee will select Notes for
redemption as follows: 
 (i) if the Notes to be redeemed are listed, in compliance with the requirements of the
principal national securities exchange on which such Notes are listed; or 
 (ii) if the Notes to be redeemed are
not so listed, on a pro rata basis, by lot or by such method as the Trustee shall deem fair and appropriate. 
  

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 SECTION 3.05. Notice of Optional Redemption. 

(a) At least 30 days but not more than 60 days before a redemption date pursuant to Section 5 of the Note, the Issuer shall mail or
cause to be mailed by first-class mail a notice of redemption to each holder whose Notes are to be redeemed. 
 Any such notice
shall identify the Notes to be redeemed and shall state: 
 (i) the redemption date; 

(ii) the redemption price and the amount of accrued interest to the redemption date; 

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

(iv) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price, plus
accrued interest; 
 (v) if fewer than all the outstanding Notes are to be redeemed, the certificate numbers
and principal amounts of the particular Notes to be redeemed, the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such partial redemption; 

(vi) that, unless the Issuer defaults in making such redemption payment or the Paying Agent is prohibited from making such
payment pursuant to the terms of this Indenture, interest on Notes (or portion thereof) called for redemption ceases to accrue on and after the redemption date; 

(vii) the CUSIP number, if any, printed on the Notes being redeemed; and 

(viii) that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice
or printed on the Notes. 
 (b) At the Issuer’s request, the Trustee and each Paying Agent shall give the notice of
redemption in the Issuer’s name and at the Issuer’s expense. In such event, the Issuer shall provide the Trustee and each Paying Agent with the information required by this Section at least one Business Day prior to the date such notice is
to be provided to holders in the final form such notice is to be delivered to holders and such notice may not be canceled. 

SECTION 3.06. Effect of Notice of Redemption. Once notice of redemption is mailed in accordance with Section 3.05, Notes
called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in the final sentence of Section 5 of the Notes. Upon surrender to the Paying Agent, such Notes shall be
paid at the redemption price stated in the notice (including any premium, if any), plus accrued interest, to, but not including, the redemption date; provided, however, that if the redemption date is after a regular Record Date
and on or prior to the Interest Payment Date, the accrued interest shall be payable to the holder of the redeemed Notes registered on the relevant Record Date. Failure to give notice or any defect in the notice to any holder shall not affect the
validity of the notice to any other holder. 
 SECTION 3.07. Deposit of Redemption Price On or before the redemption
date, the Issuer shall deposit with the Paying Agent U.S. Legal Tender funds sufficient to pay the principal of, plus premium (if any) on and unpaid interest including Additional Interest, if any, on the Notes to be redeemed

  

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on that date. The Paying Agent shall promptly return to the Issuer any U.S. Legal Tender so deposited that is not required for that purpose, except with respect to monies owed as obligations to
the Trustee pursuant to Article VII. 
 Unless the Issuer fails to comply with the preceding paragraph and defaults in the
payment of such redemption price, interest on the Notes to be redeemed will cease to accrue on and after the applicable redemption date, whether or not such Notes are presented for payment. 

SECTION 3.08. Notes Redeemed in Part. Upon surrender of a Note that is redeemed or purchased in part, the Issuer shall issue
and, upon receipt of an Authentication Order, the Trustee shall authenticate for the holder at the expense of the Issuer a new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the holder thereof upon
cancellation of the original Note. On and after the redemption date, interest will cease to accrue on Notes or portions thereof called for redemption so long as the Issuer has deposited with the Paying Agent funds sufficient to pay the principal of,
plus accrued and unpaid interest and additional interest, if any, on the Notes to be redeemed. 
 ARTICLE IV 

COVENANTS 

SECTION 4.01. Payment of Notes. The Issuer shall promptly pay the principal of and interest on the Notes on the dates and in
the manner provided in the Notes and in this Indenture. An installment of principal of or interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds as of 12:00 p.m. Eastern time money sufficient to pay
all principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the holders on that date pursuant to the terms of this Indenture. 

The Issuer shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on overdue
installments of interest at the same rate borne by the Notes to the extent lawful. 
 SECTION 4.02. Reports and Other
Information. 
 (a) For the periods commencing with the period ending on December 31, 2010 and notwithstanding that the
Issuer or the Company may not be subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules
and regulations promulgated by the SEC, the Company shall file with the SEC (and provide the Trustee and holders with copies thereof, without cost to each holder, within 15 days after it files them with the SEC), 

(i) within the time period specified in the SEC’s rules and regulations for non-accelerated filers, annual reports on
Form 10-K (or any successor or comparable form) containing the information required to be contained therein (or required in such successor or comparable form), 

(ii) within the time period specified in the SEC’s rules and regulations for non-accelerated filers, reports on Form
10-Q (or any successor or comparable form) containing the information required to be contained therein (or required in such successor or comparable form), 
  

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 (iii) promptly from time to time after the occurrence of an event required
to be therein reported (and in any event within the time period specified in the SEC’s rules and regulations), such other reports on Form 8-K (or any successor or comparable form), and 

(iv) any other information, documents and other reports which the Issuer would be required to file with the SEC if it were
subject to Section 13 or 15(d) of the Exchange Act; 
 provided, however, that the Company shall not be so obligated to file
such reports with the SEC if the SEC does not permit such filing, in which event, the Company will make available such information to prospective purchasers of Notes in addition to providing such information to the Trustee and the holders, in each
case within 15 days after the time the Issuer would be required to file such information with the SEC if it were subject to Section 13 or 15(d) of the Exchange Act. 

Notwithstanding the foregoing, the Company shall not be required to furnish any information, certificates or reports required by Items
307 or 308 of Regulation S-K prior to the effectiveness of the Exchange Offer Registration Statement or Shelf Registration Statement. 

(b) In the event that the rules and regulations of the SEC permit the Company to report at such parent entity’s level on a
consolidated basis and such parent entity is not engaged in any business in any material respect other than incidental to its ownership, directly or indirectly, of the capital stock of the Issuer, or consolidating reporting at the parent
entity’s level in a manner consistent with that described in this Section 4.02. 
 (c) The Issuer will make such
information available to prospective investors upon request. In addition, the Issuer has agreed that, for so long as any Notes remain outstanding during any period when it is not subject to Section 13 or 15(d) of the Exchange Act, or otherwise
permitted to furnish the SEC with certain information pursuant to Rule 12g3-2(b) of the Exchange Act, it will furnish to the holders of the Notes and to prospective investors, upon their request, the information required to be delivered pursuant to
Rule 144A(d)(4) under the Securities Act. 
 Notwithstanding the foregoing, the Issuer will be deemed to have furnished such
reports referred to above to the Trustee if the Issuer has filed such reports with the SEC via the EDGAR filing system and such reports are publicly available. In addition, the requirements of this Section 4.02 shall be deemed satisfied prior
to the commencement of the exchange offers contemplated by the Registration Rights Agreement relating to the First Lien Notes or the effectiveness of the Shelf Registration Statement by (1) the filing with the SEC of the Exchange Offer
Registration Statement and/or Shelf Registration Statement in accordance with the provisions of such Registration Rights Agreement, and any amendments thereto, if such registration statement and/or amendments thereto are filed at times that
otherwise satisfy the time requirements set forth in Section 4.02(a) and/or (2) the posting of reports that would be required to be provided to the Trustee and the holders on the Issuer’s website (or that of any of its parent
companies). 
 Reports by the Company or Guarantors delivered to the Trustee should be considered for informational purposes
only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 
  

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 SECTION 4.03. Limitation on Incurrence of Indebtedness and Issuance of Disqualified
Stock and Preferred Stock. 
 (a) (i) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii) the Company shall not permit any of its Restricted Subsidiaries (other than the Issuer or any Guarantor) to
issue any shares of Preferred Stock; provided, however, that the Issuer and any Guarantor may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and, subject to Section 4.03(c), any
Restricted Subsidiary of the Company that is not a Guarantor may Incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock or issue shares of Preferred Stock, in each case if the Fixed Charge Coverage Ratio of the
Company for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock or Preferred Stock is
issued would have been at least 1.75 to 1.00 determined on a pro forma basis (including a pro forma application of the net cash proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified Stock or
Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period. 

(b) The limitations set forth in Section 4.03(a) shall not apply to: 

(i) (A) Indebtedness under the First Lien Notes issued on the Issue Date, and the guarantees thereof, and (B) an
aggregate principal amount of Indebtedness outstanding in the form of any other series of notes representing First Priority Lien Obligations (“other first lien notes”) issued in one or more tranches under this Indenture, and the
guarantees by the Guarantors thereof, if on a pro forma basis after giving effect thereto (including a pro forma application of the proceeds thereof), the Secured Indebtedness Leverage Ratio of the Company would not exceed 2.25 to
1.00; 
 (ii) Indebtedness under the Notes and the 2014 Notes issued on the Issue Date; 

(iii) Indebtedness Incurred pursuant to Credit Facilities, as follows: 

(A) Indebtedness under any Credit Facilities (other than Asset Backed Credit Facilities) in the aggregate principal amount
of $1,500 million plus an aggregate additional principal amount of Indebtedness secured by a Lien outstanding at any one time such that on a pro forma basis (including a pro forma application of the proceeds therefrom) the Secured
Indebtedness Leverage Ratio of the Company would not exceed 2.25 to 1.00; provided that the amount of Indebtedness that may be Incurred pursuant to this subclause (A) shall be reduced by the amount of any (x) prepayments of term
loans under Credit Facilities or (y) permanent reductions of Indebtedness under any revolving credit facility (other than any such prepayments of the ABL Facility), in the case of each of (x) and (y) with the proceeds of an Asset Sale
(other than any Asset Sale in respect of Specified ABL Facility Assets); 
 (B) Indebtedness under Asset Backed
Credit Facilities in an aggregate principal amount not to exceed the greater of (i) $2,250 million and (ii) the sum of 90% of the net book value of the accounts receivable of the Company and its Restricted Subsidiaries and 70% of the net
book value of the inventory of the Company and its Restricted Subsidiaries (the “Borrowing Base”) less (x) in the case of the calculation of the Borrowing Base under this subclause (B)(ii), the amount of the Borrowing Base that
is the subject of an on-balance sheet Qualified Receivables Financing (it being understood that any of the 
  

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Borrowing Base that is subject to arrangements for disposition or transfer in connection with an off-balance sheet Qualified Receivables Financing shall not be included in the Borrowing Base) and
(y) in the case of Indebtedness permitted to be Incurred under this subclause (B)(ii), the amount of any Indebtedness Incurred under any Oil Indexed Credit Facility; provided that any assets or property securing any Project Financing
Incurred pursuant to clause (v)(b) below shall be excluded when determining the Borrowing Base; provided further that Indebtedness that may be Incurred pursuant to this subclause (B) shall be reduced by the amount of any permanent
reductions of Indebtedness under any revolving credit facility (other than any such prepayments of revolving credit facilities Incurred pursuant to subclause (A) above) with the proceeds of an Asset Sale (other than any Asset Sale in respect of
Specified ABL Facility Assets); provided further that, in the event of an Asset Acquisition, Indebtedness may be Incurred against the Borrowing Base pursuant to the foregoing in anticipation of the completion of such Asset Acquisition on the
assumption that the Borrowing Base of the subject of the Asset Acquisition has been acquired; and 
 (C)
Indebtedness under any Oil Indexed Credit Facility in an aggregate principal amount not to exceed $750.0 million; provided that amounts Incurred pursuant to an Oil Indexed Credit Facility will be required to reduce the amount of Indebtedness
Incurred under the Borrowing Base to the extent Indebtedness in such amount as would no longer be permitted to be Incurred under subclause (B) above (without duplication for the requirements of subclause (B) above); 

(iv) Indebtedness existing on the Issue Date (other than the First Lien Notes and Indebtedness described in clauses
(ii) and (iii) above) in an aggregate principal amount not to exceed $600.0 million, after giving effect to the consummation of the Reorganization Plan, which shall have the obligors, collateral, maturity and amortization features
summarized under “Description of Certain Indebtedness” in the Offering Memorandum, and guarantees of Indebtedness of Joint Ventures outstanding on the Issue Date, and operating leases of the Company and the Restricted Subsidiaries
outstanding on the Issue Date to the extent characterized as a Capitalized Lease Obligation after the Issue Date; 

(v) (A) Indebtedness (including Capitalized Lease Obligations) Incurred by the Company or any Restricted Subsidiary,
Disqualified Stock issued by the Company or any of its Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Company to finance (whether prior to or within 270 days after) the acquisition, lease, construction,
repair, replacement or improvement of property (real or personal) or equipment (whether through the direct purchase of assets or the Capital Stock of any Person owning such assets); provided that Indebtedness Incurred pursuant to this clause
(v)(A) is not Incurred to finance a Business Acquisition, (B) Indebtedness Incurred in connection with any Project Financing or (C) Indebtedness Incurred pursuant to a Catalyst Sale/Leaseback Transaction; 

(vi) Indebtedness Incurred by the Company or any of its Restricted Subsidiaries constituting reimbursement Obligations
with respect to letters of credit and bank guarantees issued in the ordinary course of business, including, without limitation, letters of credit in respect of workers’ compensation claims, health, disability or other benefits to employees or
former employees or their families or property, casualty or liability insurance or self-insurance or similar requirements, and letters of credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other
permits or licenses from governmental authorities, or other Indebtedness with respect to reimbursement-type obligations regarding workers’ compensation claims; 

 

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 (vii) Indebtedness arising from agreements of the Company or a Restricted
Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case, Incurred in connection with any acquisition or disposition of any business, assets or a Subsidiary of the Company in accordance with the
terms of this Indenture, other than guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; 

(viii) Indebtedness of the Company to a Restricted Subsidiary; provided that (except in respect of intercompany
current liabilities Incurred in the ordinary course of business in connection with the cash management operations of the Company and its Subsidiaries) any such Indebtedness owed to a Restricted Subsidiary that is not the Issuer or a Guarantor is
subordinated in right of payment to the Obligations of the Company under the Notes; provided further that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to
be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an
Incurrence of such Indebtedness not permitted by this clause (viii); 
 (ix) shares of Preferred Stock of a
Restricted Subsidiary issued to the Company or another Restricted Subsidiary; provided that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary that holds such shares of
Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except to the Company or another Restricted Subsidiary) shall be deemed, in each case, to
be an issuance of shares of Preferred Stock not permitted by this clause (ix); 
 (x) Indebtedness of a
Restricted Subsidiary to the Company or another Restricted Subsidiary; provided that if the Issuer or a Guarantor Incurs such Indebtedness to a Restricted Subsidiary that is not the Issuer or a Guarantor (except in respect of intercompany
current liabilities Incurred in the ordinary course of business in connection with the cash management operations of the Company and its Subsidiaries), such Indebtedness is subordinated in right of payment to the Obligations of the Issuer or such
Guarantor, as applicable, in respect of the Notes; provided further that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary holding such Indebtedness ceasing to be a
Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an
Incurrence of such Indebtedness not permitted by this clause (x); 
 (xi) Hedging Obligations that are not
Incurred for speculative purposes but for the purpose of (1) fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (2) fixing or hedging currency exchange
rate risk with respect to any currency exchanges; (3) fixing or hedging commodity price risk, including the price or cost of raw materials, emission rights, manufactured products or related commodities, with respect to any commodity purchases
or sales; or (4) hedging the potential exposure in respect of certain executives’ and employees’ options over, or stock appreciation rights in relation to, shares of Royal Dutch Shell plc and BASF AG; 

(xii) (A) obligations in respect of bankers’ acceptances, tender, bid, judgment, appeal, performance or governmental
contract bonds and completion guarantees, surety, standby letters of credit and warranty and contractual service obligations of a like nature, trade letters of credit and documentary letters of credit and similar bonds or guarantees provided by the
Company or 
  

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any Restricted Subsidiary in the ordinary course of business or (B) Indebtedness of the Company or any Restricted Subsidiary supported by a letter of credit or bank guarantee issued pursuant
to any of the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; 

(xiii) Indebtedness or Disqualified Stock of the Company or, subject to Section 4.03(c), Indebtedness, Disqualified
Stock or Preferred Stock of any Restricted Subsidiary of the Company not otherwise permitted hereunder in an aggregate principal amount or liquidation preference which, when aggregated with the principal amount or liquidation preference of all other
Indebtedness, Disqualified Stock and Preferred Stock then outstanding and Incurred pursuant to this clause (xiii), does not exceed the greater of $1,000.0 million and 4.25% of the Consolidated Net Tangible Assets of the Company at the time of
Incurrence (it being understood that any Indebtedness Incurred pursuant to this clause (xiii) shall cease to be deemed Incurred or outstanding for purposes of this clause (xiii) but shall be deemed Incurred for purposes of
Section 4.03(a) from and after the first date on which the Company or the Restricted Subsidiary, as the case may be, could have Incurred such Indebtedness under Section 4.03(a) without reliance upon this clause (xiii)); 

(xiv) Indebtedness or Disqualified Stock of the Company, the Issuer or any Pledgor and Preferred Stock of the Issuer or
any Pledgor not otherwise permitted hereunder in an aggregate principal amount or liquidation preference not greater than 200% of the net cash proceeds received by the Company and its Restricted Subsidiaries since immediately after the Issue Date
from the issue or sale of Equity Interests of the Company or any direct or indirect parent entity of the Company (which proceeds are contributed to the Company) or cash contributed to the capital of the Company (in each case other than proceeds of
Disqualified Stock or sales of Equity Interests to, or contributions received from, the Company or any of its Restricted Subsidiaries) as determined in accordance with Section 4.04(a)(iv)(3) to the extent such net cash proceeds or cash has not
been applied pursuant to such clauses to make Restricted Payments or to make other Investments or to make Permitted Investments (other than Permitted Investments specified in clauses (1) and (3) of the definition thereof); 

(xv) any guarantee by the Company or any Restricted Subsidiary of Indebtedness or other Obligations of the Company or any
of its Restricted Subsidiaries so long as the Incurrence of such Indebtedness Incurred by the Company or such Restricted Subsidiary is permitted under the terms of this Indenture; provided that (i) if such Indebtedness is by its express
terms subordinated in right of payment to the Notes or the obligations of such Restricted Subsidiary in respect of the Notes, as applicable, any such guarantee of such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in
right of payment to such Restricted Subsidiary’s obligations with respect to the Notes substantially to the same extent as such Indebtedness is subordinated to the Notes or the obligations of such Restricted Subsidiary in respect of the Notes,
as applicable, or (ii) if such guarantee is of Indebtedness of the Company under the First Lien Notes or the Senior Term Loan Facility, such guarantee is Incurred in accordance with Section 4.11, solely to the extent such covenant is
applicable; 
 (xvi) the Incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness or
Disqualified Stock or Preferred Stock of a Restricted Subsidiary of the Company which serves to refund, refinance or defease any Indebtedness Incurred or Disqualified Stock or Preferred Stock issued as permitted under Section 4.03(a) and
clauses (i), (ii), (iv), (v), (xiv) and (xvii) of this paragraph or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund or refinance such Indebtedness, Disqualified Stock or Preferred Stock, including any
additional Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including 
  

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tender premiums) and original issue discount, expenses, defeasance costs and fees in connection therewith; provided that any such Indebtedness until reclassified in accordance with this
Indenture shall remain Incurred pursuant to clauses (i), (iv), (v), (xiv) and (xvii), as applicable (subject to the following proviso, “Refinancing Indebtedness”), prior to its maturity; provided, however, that
such Refinancing Indebtedness: 
 (1) has a Weighted Average Life to Maturity at the time such Refinancing
Indebtedness is Incurred which is not less than the shorter of (x) the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded, refinanced or defeased and (y) the Weighted
Average Life to Maturity that would result if all payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being refunded or refinanced that were due on or after the date that is one year following the last maturity date of
any Notes then outstanding were instead due on such date; 
 (2) to the extent such Refinancing Indebtedness
refinances (a) Indebtedness junior to the Notes or the Obligations of such Restricted Subsidiary in respect of the Notes, as applicable, such Refinancing Indebtedness is junior to the Notes or such Obligations of such Restricted Subsidiary, as
applicable, to at least the same extent or (b) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness is Disqualified Stock or Preferred Stock, as the case may be, of the same issuer; and 

(3) shall not include (a) Indebtedness of a Restricted Subsidiary of the Company that is not a Guarantor that
refinances Indebtedness of the Issuer or a Guarantor, or (b) Indebtedness of the Company or a Restricted Subsidiary that refinances Indebtedness of an Unrestricted Subsidiary; 

provided, further that subclause (1) of this clause (xvi) will not apply to any refunding or refinancing of any
Secured Indebtedness constituting First Priority Lien Obligations; 
 (xvii) Indebtedness, Disqualified Stock or
Preferred Stock of (x) the Company or, subject to Section 4.03(c), any of its Restricted Subsidiaries (A) Incurred to finance an Asset Acquisition or (B) Incurred by a Person in connection with or anticipation of such Person
becoming a Restricted Subsidiary as a result of an Asset Acquisition or to finance an Asset Acquisition or (y) a Person existing at the time such Person becomes a Restricted Subsidiary of the Company as a result of an Asset Acquisition or
assumed in connection with an Asset Acquisition by the Company or a Restricted Subsidiary of the Company and, in any such case under this subclause (y), not Incurred in connection with or in anticipation of such Asset Acquisition; provided
that, in the case of clause (y), the holders of any such Indebtedness do not, at any time, have direct or indirect recourse to any property or assets of the Company or any Restricted Subsidiary other than the property or assets that are the subject
of such Asset Acquisition; provided that after giving effect to such Asset Acquisition, either: 
 (1) the
Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.03(a); or 

(2) the Fixed Charge Coverage Ratio of the Company would be greater than immediately prior to such Asset Acquisition;

  

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 (xviii) Indebtedness Incurred in a Qualified Receivables Financing that is
without recourse to the Company or any Restricted Subsidiary (except for Standard Securitization Undertakings); 

(xix) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness is extinguished within five Business Days of its Incurrence; 

(xx) Indebtedness under any Treasury Services Agreement or any Structured Financing Transaction; 

(xxi) Indebtedness of Foreign Subsidiaries; provided, however, that the aggregate principal amount of
Indebtedness Incurred under this clause (xxi), when aggregated with the principal amount of all other Indebtedness then outstanding and Incurred pursuant to this clause (xxi), does not exceed the greater of $525.0 million and 4.25% of the
Consolidated Net Tangible Assets of the Foreign Subsidiaries at any one time outstanding (it being understood that any Indebtedness Incurred pursuant to this clause (xxi) shall cease to be deemed Incurred or outstanding for purposes of this
clause (xxi) but shall be deemed Incurred for the purposes of Section 4.03(a) from and after the first date on which such Foreign Subsidiary could have Incurred such Indebtedness under Section 4.03(a) without reliance upon this clause
(xxi)); 
 (xxii) Indebtedness of the Company or any Restricted Subsidiary consisting of (1) the financing
of insurance premiums or (2) take-or-pay Obligations contained in supply arrangements, in each case, in the ordinary course of business; 

(xxiii) Indebtedness consisting of Indebtedness issued by the Company or a Restricted Subsidiary of the Company to current
or former officers, directors and employees thereof or any direct or indirect parent thereof, their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Company or any direct or
indirect parent entity of the Company to the extent described in Section 4.04(b)(iv); 
 (xxiv) Indebtedness
Incurred on behalf of, or representing guarantees of Indebtedness of, Joint Ventures of the Company or any Restricted Subsidiary not to exceed, at any one time outstanding, the greater of $375.0 million and 1.50% of the Consolidated Net Tangible
Assets of the Company; and 
 (xxv) Indebtedness Incurred by Lyondell Basell Australia Pty Ltd. and its
successors in an aggregate principal amount at any one time outstanding not to exceed $80.0 million; provided that such Indebtedness is not guaranteed by the Company or any Restricted Subsidiary of the Company organized under the laws of any
jurisdiction other than Australia. 
 (c) Restricted Subsidiaries that are not Guarantors may not Incur Indebtedness or issue
Disqualified Stock or Preferred Stock under Section 4.03(a) or clause (xiii) or (xvii)(x) (or clause (xv) to the extent constituting a guarantee of Indebtedness Incurred under Section 4.03(a) or clause (xiii) or (xvii)(x))
of Section 4.03(b) if, after giving pro forma effect to such Incurrence or issuance (including a pro forma application of the net cash proceeds therefrom), the aggregate amount of Indebtedness and Disqualified Stock and Preferred
Stock of Restricted Subsidiaries that are not Guarantors Incurred or issued pursuant to Section 4.03(a) and clauses (xiii) and (xvii)(x) (or clause (xv) to the extent constituting a guarantee of Indebtedness Incurred under
Section 4.03(a) or clause (xiii) or (xvii)(x)) of Section 4.03(b), collectively, would exceed the greater of $600.0 million and 5.0% of the Consolidated Net Tangible Assets of Restricted Subsidiaries that are not Guarantors.

  

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 (d) For purposes of determining compliance with this Section 4.03: 

(i) in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) meets the
criteria of more than one of the categories of permitted Indebtedness described in clauses (i) through (xxv) of Section 4.03(b) or is entitled to be Incurred pursuant to Section 4.03(a), the Company, in its sole discretion,
classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) in any manner that complies with this Section 4.03; provided that Indebtedness
Incurred, or committed for, under the Credit Facilities and the First Lien Notes on or before the Issue Date or pursuant to an Oil Indexed Credit Facility shall at all times be deemed to be Incurred under clauses (i) and (iii) of
Section 4.03(b); and 
 (ii) at the time of Incurrence, the Company will be entitled to divide and classify
an item of Indebtedness in more than one of the types of Indebtedness described in Sections 4.03(a) and (b) without giving pro forma effect to the Indebtedness Incurred pursuant to Section 4.03(b) when calculating the amount of
Indebtedness that may be Incurred pursuant to Section 4.03(a). 
 Accrual of interest, the accretion of accreted value, the
payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as applicable, amortization of original issue discount, the accretion of liquidation preference and increases in the amount of
Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an Incurrence or issuance of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section 4.03.
Guarantees of, or Obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of
Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 4.03. 

For purposes of determining compliance with any U.S. Dollar-denominated restriction on the Incurrence of Indebtedness, the
U.S. Dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the case of term debt, or first
committed or first Incurred (whichever yields the lower U.S. Dollar Equivalent), in the case of revolving credit debt; or if any such Indebtedness is subject to a Currency Agreement with respect to the currency in which such Indebtedness is
denominated covering principal, premium, if any, and interest on such Indebtedness, the amount of such Indebtedness and such interest and premium, if any, shall be determined after giving effect to all payments in respect thereof under such Currency
Agreement; provided that if such Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S. Dollar-denominated restriction to be exceeded if calculated
at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such Refinancing Indebtedness does not
exceed the principal amount of such Indebtedness being refinanced. 
 (e) Notwithstanding any other provision of this
Section 4.03, the maximum amount of Indebtedness that the Company and its Restricted Subsidiaries may Incur pursuant to this Section 4.03 shall not be deemed to be exceeded, with respect to any outstanding Indebtedness, solely as a result
of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the
currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in effect on the date of such refinancing. 
  

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 SECTION 4.04. Limitation on Restricted Payments. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(i) declare or pay any dividend or make any distribution on account of the Company’s or any of its Restricted
Subsidiaries’ Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Company (other than (A) dividends or distributions by the Company payable solely in Equity Interests
(other than Disqualified Stock) of the Company; or (B) dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities issued by a
Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Company or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or
series of securities); 
 (ii) purchase or otherwise acquire or retire for value any Equity Interests of the
Company or any direct or indirect parent entity of the Company; 
 (iii) make any principal payment on, or
redeem, repurchase, defease or otherwise acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Company or any of its Restricted Subsidiaries (other than the payment,
redemption, repurchase, defeasance, acquisition or retirement of (A) Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of
such payment, redemption, repurchase, defeasance, acquisition or retirement and (B) Indebtedness permitted under clauses (viii) or (x) of Section 4.03(b)); or 

(iv) make any Restricted Investment 

(all of the payments and other actions set forth in clauses (i) through (iv) above are collectively referred to as “Restricted
Payments”), unless, at the time of such Restricted Payment: 
 (1) no Default or Event of Default shall
have occurred and be continuing or would occur as a consequence thereof; 
 (2) immediately after giving effect
to such transaction on a pro forma basis, the Company could Incur $1.00 of additional Indebtedness under Section 4.03(a); and 

(3) the aggregate amount of Restricted Payments made after the Issue Date (including the Fair Market Value of non-cash
amounts constituting Restricted Payments and Restricted Payments permitted by clauses (i), (ii) (vi)(B), (viii), (xii)(B) and (xvi) of Section 4.04(b), but excluding all other Restricted Payments permitted by Section 4.04(b))
shall not exceed the sum of, without duplication. 
 (i) 50% of the Consolidated Net Income of the Company for the period (taken
as one accounting period, the “Reference Period”) from March 31, 2012 to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted
Payment (or, in the case such Consolidated Net Income for such period is a deficit, minus 100% of such deficit), plus 
  

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 (ii) 100% of the aggregate net cash proceeds, including cash and the Fair
Market Value of property other than cash, received by the Company after March 31, 2012 (other than net cash proceeds to the extent such net cash proceeds have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to
Section 4.03(b)(xiv) from the issue or sale of Equity Interests of the Company (excluding Refunding Capital Stock, Designated Preferred Stock, Excluded Contributions and Disqualified Stock), including Equity Interests issued upon exercise of
warrants or options (other than an issuance or sale to a Restricted Subsidiary), plus 
 (iii) 100% of the
aggregate amount of contributions to the capital of the Company received in cash and the Fair Market Value of property other than cash after March 31, 2012 (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock
and Disqualified Stock and other than contributions to the extent such contributions have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to Section 4.03(b)(xiv)), plus 

(iv) 100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as
the case may be, of any Disqualified Stock of the Company or any Restricted Subsidiary thereof issued after March 31, 2012 (other than Indebtedness or Disqualified Stock issued to the Company or a Restricted Subsidiary thereof) or 100% of the
principal amount of any debt securities of the Company or any Restricted Subsidiary thereof that are convertible into or exchangeable for Capital Stock issued after the Issue Date (other than debt securities issued to the Company or a Restricted
Subsidiary thereof) which, in any such case, have been converted into or exchanged for Equity Interests in the Company (other than Disqualified Stock) or any direct or indirect parent entity of the Company (provided in the case of any parent,
such Indebtedness or Disqualified Stock is retired or extinguished) after March 31, 2012, plus 
 (v)
100% of the aggregate amount received by the Company or any Restricted Subsidiary in cash and the Fair Market Value of property other than cash received by the Company or any Restricted Subsidiary after March 31, 2012 from: 

(A) the sale or other disposition (other than to the Company or a Restricted Subsidiary of the Company) of Restricted
Investments made by the Company and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Company and its Restricted Subsidiaries by any Person (other than the Company or any of its Subsidiaries)
and from repayments of loans or advances which constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made pursuant to clause (vii) of Section 4.04(b) below) or 

(B) the sale (other than to the Company or a Restricted Subsidiary of the Company) of the Capital Stock of an Unrestricted
Subsidiary, plus 
 (vi) in the event any Unrestricted Subsidiary of the Company has been redesignated as
a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Company or a Restricted 

 

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Subsidiary of the Company, in each case subsequent to March 31, 2012, the Fair Market Value of the Investment of the Company in such Unrestricted Subsidiary at the time of such
redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after deducting any Indebtedness associated with the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets
so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made pursuant to clause (vii) of Section 4.04(b) below or constituted a Permitted Investment).

 (b) The provisions of Section 4.04(a) shall not prohibit: 

(i) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Indenture; 
 (ii) (A) the redemption,
repurchase, retirement or other acquisition of any Equity Interests (“Retired Capital Stock”) of the Company or Subordinated Indebtedness of the Company, any direct or indirect parent entity of the Company in exchange for, or out of
the proceeds of the substantially concurrent sale of, Equity Interests of the Company or any direct or indirect parent entity of the Company or contributions to the equity capital of the Company or any Restricted Subsidiary (other than any
Disqualified Stock or any Equity Interests sold to a Subsidiary of the Company) (collectively, including any such contributions, “Refunding Capital Stock”), 

(B) the declaration and payment of dividends on the Retired Capital Stock out of the proceeds of the substantially
concurrent sale (other than to a Subsidiary of the Company) of Refunding Capital Stock, and 
 (C) if immediately
prior to the retirement of Retired Capital Stock, the declaration and payment of dividends thereon was permitted under clause (vi) of this Section 4.04(b) and not made pursuant to clause (ii)(B), the declaration and payment of dividends on
the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which are used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent of the Company) in an aggregate amount per year
no greater than the aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock immediately prior to such retirement; 

(iii) the redemption, repurchase, defeasance, or other acquisition or retirement of Subordinated Indebtedness of the
Company, the Issuer or any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the Company, the Issuer or any Guarantor which is Incurred in accordance with Section 4.03 so long
as: 
 (A) the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the
principal amount (or accreted value, if applicable) of, plus any accrued and unpaid interest on the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired for value (plus the amount of any premium
required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired, any tender premiums, plus any defeasance costs, fees and expenses Incurred in connection
therewith), 
 (B) such Indebtedness is subordinated to the Notes or such Guarantor’s obligations in respect
of the Notes, as the case may be, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired for value, 

 

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 (C) such Indebtedness has a final scheduled maturity date equal to or later
than the earlier of (x) the final scheduled maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired and (y) 91 days following the last maturity date of any Notes then outstanding, and 

(D) such Indebtedness has a Weighted Average Life to Maturity at the time Incurred which is not less than the shorter of
(x) the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y) the Weighted Average Life to Maturity that would result if all payments of principal
on the Subordinated Indebtedness being redeemed, repurchased, defeased, acquired or retired that were due on or after the date that is 91 days following the last maturity date of any Notes then outstanding were instead due on such date; 

(iv) a Restricted Payment to pay for the repurchase, retirement or other acquisition for value of Equity Interests of the
Company or any direct or indirect parent entity of the Company held by any future, present or former employee, director or consultant of the Company or any direct or indirect parent entity of the Company or any of its Restricted Subsidiaries
pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement; provided, however, that the aggregate Restricted Payments made under this clause
(iv) do not exceed $35.0 million in any calendar year (with unused amounts in any calendar year being permitted to be carried over to succeeding calendar years subject to a maximum (without giving effect to the following proviso) of $70.0
million in any calendar year); provided, further, however, that such amount in any calendar year may be increased by an amount not to exceed: 

(A) the cash proceeds received by the Company or any of its Restricted Subsidiaries from the sale of Equity Interests
(other than Disqualified Stock) of the Company or any direct or indirect parent entity of the Company (to the extent contributed to the Company) to members of management, directors or consultants of the Company and its Restricted Subsidiaries or any
direct or indirect parent entity of the Company that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend will not increase the amount
available for Restricted Payments under Section 4.04(a)(iii) or be used as the basis for the Incurrence of Indebtedness under Section 4.03(b)(xiv)), plus 

(B) the cash proceeds of key man life insurance policies received by the Company or any direct or indirect parent entity
(to the extent contributed to the Company) of the Company or any of its Restricted Subsidiaries after the Issue Date; 

provided that the Company may elect to apply all or any portion of the aggregate increase contemplated by clauses (A) and
(B) above in any calendar year; and provided, further, that cancellation of Indebtedness owing to the Company or any Restricted Subsidiary from any present or former employees, directors, officers or consultants of the Company,
any of its Restricted Subsidiaries or any direct or indirect parent entity of the Company in connection with a repurchase of Equity Interests of the Company or any direct or indirect parent entity of the Company will not be deemed to constitute a
Restricted Payment for purposes of this Section 4.04 or any other provision of this Indenture; 
  

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 (v) the declaration and payment of dividends or distributions to holders of
any class or series of Disqualified Stock of the Company or any of its Restricted Subsidiaries issued or Incurred in accordance with Section 4.03 to the extent such dividends are included in the definition of “Fixed Charges”;

 (vi) (A) the declaration and payment of dividends or distributions to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; and 
 (B) the
declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and payable thereon pursuant to Section 4.04(b)(ii); 

provided, however, in the case of each of (A) and (B) above of this clause (vi), that for the most recently ended
four full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a
pro forma basis, the Company would have had a Fixed Charge Coverage Ratio of at least 1.75 to 1.00; 

(vii) Investments in Unrestricted Subsidiaries having an aggregate Fair Market Value, taken together with all other
Investments made pursuant to this clause (vii) that are at that time outstanding, not to exceed the greater of $375 million and 1.50% of the Consolidated Net Tangible Assets of the Company at the time of such Investment (with the Fair Market
Value of each Investment being measured at the time made and without giving effect to subsequent changes in value), plus 100% of the aggregate amount received by the Company or any Restricted Subsidiary in cash and the Fair Market Value (as
determined in good faith by the Company) of property other than cash received by the Company or any Restricted Subsidiary with respect to any Investment made pursuant to this clause (vii); 

(viii) (x) Restricted Payments by the Company in an amount not to exceed $75.0 million per annum, and (y) following a
Primary Offering only, the payment of dividends on the listed Equity Interests at a rate not to exceed 6% per annum of the net cash proceeds received by the Company or the Issuer in connection with such a Primary Offering or any subsequent
Primary Offering; 
 (ix) Restricted Payments that are made with Excluded Contributions; 

(x) other Restricted Payments in an aggregate amount not to exceed the greater of $450.0 million and 2.00% of the
Consolidated Net Tangible Assets of the Company at the time made; 
 (xi) the payment of dividends or other
distributions to any direct or indirect parent of the Issuer that files a consolidated tax return that includes the Issuer and its Subsidiaries (including, without limitation, by virtue of such parent being the common parent of a consolidated or
combined tax group of which the Issuer and/or its Restricted Subsidiaries are members) in an amount not to exceed the amount that the Issuer and its Restricted Subsidiaries would have been required to pay in respect of federal, state or local taxes
(as the case may be) if the Issuer and its Restricted Subsidiaries paid such taxes as a standalone taxpayer (or standalone group); 
  

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 (xii) the payment of Restricted Payments, if applicable: 

(A) in amounts required for any direct or indirect parent of the Issuer to pay fees and expenses (including legal, audit
and tax, including franchise tax, expenses) required to maintain its corporate existence, customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers, directors and employees of any direct or indirect
parent of the Issuer and general corporate operating and overhead expenses of any direct or indirect parent of the Issuer in each case to the extent such fees and expenses are attributable to the ownership or operation of the Issuer, if applicable,
and its Subsidiaries; 
 (B) in amounts required for any direct or indirect parent of the Company, if applicable,
to pay interest and/or principal on Indebtedness the proceeds of which have been contributed to the Company or any of its Restricted Subsidiaries and that has been guaranteed by and treated as Indebtedness of the Company or its Restricted
Subsidiaries, as applicable, Incurred in accordance with Section 4.03 (it being agreed that (i) all interest expense shall be included in the calculation of the “Fixed Charge Coverage Ratio” of the Company and (ii) no
contribution of such proceeds may be included in the calculation of Restricted Payments capacity or in the amount of Indebtedness that may be Incurred based on contributions to the Company); and 

(C) in amounts required for any direct or indirect parent of the Company to pay fees and expenses, other than to
Affiliates of the Company, related to any unsuccessful equity or debt offering of such parent that has been undertaken to finance the Company and its Subsidiaries; 

(xiii) repurchases of Equity Interests of the Company and its Subsidiaries deemed to occur upon exercise of stock options
or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; 

(xiv) purchases of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables
Financing and the payment or distribution of Receivables Fees; 
 (xv) Restricted Payments by the Company or any
Restricted Subsidiary to allow the payment of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; 

(xvi) the repurchase, redemption or other acquisition or retirement for value of any Subordinated Indebtedness pursuant to
the provisions similar to those described under Sections 4.06 and 4.08; provided that all Notes tendered by holders of the Notes in connection with a Change of Control Offer, Asset Sale Offer or Collateral Asset Sale Offer, as applicable,
have been repurchased, redeemed or acquired for value in accordance with the provisions hereof; 
 (xvii)
payments or distributions to dissenting stockholders pursuant to applicable law, pursuant to or in connection with a consolidation, amalgamation, merger or transfer of all or substantially all of the assets of the Company and its Restricted
Subsidiaries, taken as a whole, that complies with Section 5.01; provided that as a result of such consolidation, amalgamation, merger or transfer of assets, the Issuer shall have made a Change of Control Offer (if required by this
Indenture) and that all Notes tendered by holders in connection with such Change of Control Offer have been repurchased, redeemed or acquired for value; 
  

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 (xviii) any Restricted Payment made in connection with the Emergence
Transactions; 
 (xix) distributions by any Restricted Subsidiary of the Company or any Joint Venture of
chemicals to a holder of Capital Stock of such Restricted Subsidiary or Joint Venture if such distributions are made pursuant to a provision in a Joint Venture agreement or other arrangement entered into in connection with the establishment of such
Joint Venture or Restricted Subsidiary that requires such holder to pay a price for such chemicals equal to that which would be paid in a comparable transaction negotiated on an arm’s length basis (or pursuant to a provision that imposes a
substantially equivalent requirement); and 
 (xx) any Restricted Payments under any Treasury Services Agreement
or any Structured Financing Transaction; 
 provided, however, that at the time of, and after giving effect to, any Restricted
Payment permitted under clauses (iii), (vi), (vii), (viii), (ix), (x) and (xii)(B) of this Section 4.04(b), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 

The Company will not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the definition of
“Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so
designated will be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of “Investments.” Such designation will only be permitted if a Restricted Payment or Permitted Investment in
such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. 

Notwithstanding Section 4.04(b)(x), prior to March 31, 2012 the Company will not, and will not permit any of its Restricted
Subsidiaries to, pay any cash dividend or make any cash distribution on, or in respect of, the Company’s Capital Stock or purchase for cash or otherwise acquire for cash any Capital Stock of the Company or any direct or indirect parent of the
Company for the purpose of paying any cash dividend or making any cash distribution to, or acquiring Capital Stock of any direct or indirect parent of the Company for cash from, the Sponsors, or guarantee any Indebtedness of any Affiliate of the
Company for the purpose of paying such dividend, making such distribution or so acquiring such Capital Stock to or from the Sponsors, in each case by means of the exception provided by clause (x) of Section 4.04(b) if at the time and after
giving effect to such payment, the Secured Indebtedness Leverage Ratio of the Company would be greater than 2.25 to 1.00. 

SECTION 4.05. Dividend and Other Payment Restrictions Affecting Subsidiaries. The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 

(a) (i) pay dividends or make any other distributions to the Company or any of its Restricted Subsidiaries (1) on
its Capital Stock or (2) with respect to any other interest or participation in, or measured by, its profits; or (ii) pay any Indebtedness owed to the Company or any of its Restricted Subsidiaries; 

(b) make loans or advances to the Company or any of its Restricted Subsidiaries; or 

(c) sell, lease or transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries;

  

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 except in each case for such encumbrances or restrictions existing under or by reason of: 

(1) agreements existing and contractual encumbrances or restrictions in effect on the Issue Date, including pursuant to
the Senior Term Loan Facility, the ABL Facility, the Euro Securitization and the other Credit Facilities; 
 (2)
the First Lien Indenture, the First Lien Notes or the other first lien notes permitted to be Incurred pursuant to Section 4.03(b)(i); 

(3) applicable law or any applicable rule, regulation or order; 

(4) any agreement or other instrument (including those governing Capital Stock) of a Person acquired by the Company or any
Restricted Subsidiary which was in existence at the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or
restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person and its Subsidiaries, or the property or assets of the Person and its Subsidiaries, so acquired; 

(5) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary
imposed pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; 

(6) Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections 4.03 and 4.12 that limit the right of the
Company or any Restricted Subsidiary to dispose of the assets securing such Indebtedness; 
 (7) restrictions on
cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 

(8) customary provisions in Joint Venture agreements and other similar agreements entered into in the ordinary course of
business; 
 (9) purchase money obligations for property acquired and Capitalized Lease Obligations in the
ordinary course of business; 
 (10) customary provisions contained in leases, subleases, licenses and other
similar agreements entered into in the ordinary course of business; 
 (11) any encumbrance or restriction in
connection with a Qualified Receivables Financing; provided that such restrictions only apply to the applicable receivables and related intangibles; 

(12) other Indebtedness, Disqualified Stock or Preferred Stock (a) of any Restricted Subsidiary of the Company that
is a Guarantor or a Foreign Subsidiary, (b) of any Restricted Subsidiary that is not a Guarantor or a Foreign Subsidiary so long as such encumbrances and restrictions contained in any agreement or instrument will not materially affect the
Company’s ability to make anticipated principal or interest payments on the Notes (as determined in good faith by the Company) or (c) of any Restricted Subsidiary Incurred in connection with any Project Financing, provided that in
the case of each of clauses (a) and (b), such Indebtedness, Disqualified Stock or Preferred Stock is permitted to be Incurred subsequent to the Issue Date pursuant to Section 4.03; 

 

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 (13) any Restricted Investment not prohibited by Section 4.04 and any
Permitted Investment; 
 (14) customary provisions in Hedging Obligations permitted under this Indenture and
entered into in the ordinary course of business; or 
 (15) the Indenture or the Notes or the 2014 Indenture or
the 2014 Notes; or 
 (16) any encumbrances or restrictions of the type referred to in clauses (a), (b) and
(c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or Obligations referred to in clauses (1) through (15) above;
provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, as determined good faith by the Company, no more restrictive with respect to such dividend and other
payment restrictions than those contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

For purposes of determining compliance with this Section 4.05, (i) the priority of any Preferred Stock in receiving dividends
or liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made
to the Company or a Restricted Subsidiary of the Company to other Indebtedness Incurred by the Company or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

Section 4.06. Asset Sales. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an Asset Sale, unless (x) the
Company or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value of the assets sold or otherwise disposed of, and (y) at least 75% of the
consideration therefor received by the Company or such Restricted Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount of: 

(i) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet or in
the notes thereto) of the Company or any Restricted Subsidiary of the Company (other than liabilities that are by their terms subordinated to the Notes or such Restricted Subsidiary’s Obligations in respect of the Notes) that are assumed by the
transferee of any such assets, 
 (ii) any notes or other Obligations or other securities or assets received by
the Company or such Restricted Subsidiary of the Company from such transferee that are converted by the Company or such Restricted Subsidiary of the Company into cash within 180 days of the receipt thereof (to the extent of the cash received), and

 (iii) any Designated Non-cash Consideration received by the Company or any of its Restricted Subsidiaries in
such Asset Sale having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this Section 4.06(a)(iii) that is at that time outstanding, not to exceed the greater of 3.75% of the
Consolidated Net Tangible Assets of the Company and $750.0 million at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received
and without giving effect to subsequent changes in value), 
  

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 shall be deemed to be Cash Equivalents for the purposes of this Section 4.06(a). 

(b) Within 15 months after the Company’s or any Restricted Subsidiary’s receipt of the Net Proceeds of any Asset Sale, the
Company or such Restricted Subsidiary Company may apply the Net Proceeds from such Asset Sale, at its option: 

(i) to repay and/or repurchase (A) Indebtedness constituting First and Second Priority Lien Obligations;
(B) Indebtedness of a Restricted Subsidiary that is not a Pledgor, (C) Notes Obligations or (D) other Pari Passu Indebtedness (provided that if the Issuer or any Pledgor shall so reduce other Pari Passu Indebtedness, the Issuer
will equally and ratably reduce Notes Obligations through open-market purchases (provided that such purchases are at or above 100% of the principal amount thereof) or by making an offer (in accordance with the procedures set forth below for an Asset
Sale Offer) to all holders to purchase at a purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, on the pro rata principal amount of Notes), in each case other
than Indebtedness owed to the Issuer or an Affiliate of the Issuer; or 
 (ii) to make an Investment in any one
or more businesses (provided that if such Investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Company), assets or property, in each case
(a) used or useful in a Similar Business or (b) that replace the properties and assets that are the subject of such Asset Sale; provided, however, that with respect to any Asset Sale of Collateral only, the assets or property
subject to such Investment (other than to the extent it would constitute Excluded Assets) shall be pledged as Collateral. 
 In
the case of Section 4.06(b)(ii), a binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment; provided that in the event such binding commitment is later canceled or terminated
for any reason before such Net Proceeds are so applied, the Company or such Restricted Subsidiary enters into another binding commitment (a “Second Commitment”) within six months of such cancellation or termination of the prior
binding commitment; provided, further, that the Company or such Restricted Subsidiary may only enter into a Second Commitment under the foregoing provision one time with respect to each Asset Sale and to the extent such Second
Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Collateral Excess Proceeds or Excess Proceeds, as applicable. Pending the final application of any such Net
Proceeds, the Company or such Restricted Subsidiary of the Company may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Proceeds in any manner not prohibited by this Indenture. 

Any Net Proceeds from any Asset Sale of Collateral (other than Specified ABL Facility Assets and other than to the extent required to be
used in any accepted offer or otherwise to repay any First Priority Lien Obligations as required under the First Lien Notes and related indenture or Senior Term Loan Facility or other agreement governing First Priority Lien Obligations or Second
Priority Lien Obligations) that are not invested or applied as provided and within the time period set forth in Section 4.06(b) (it being understood that any portion of such Net Proceeds used to purchase or make an offer to purchase Notes, as
described in clause (1) above, shall be deemed to have been invested whether or not such offer is accepted) will be deemed to constitute “Collateral Excess Proceeds.” The Issuer shall make an offer to all holders of the Notes
and, if required by the terms of any First Priority Lien Obligations, Second Priority Lien Obligations or Third Priority Lien Obligations secured by a Lien permitted under the 

 

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Indenture, to the holders of such First Priority Lien Obligations, Second Priority Lien Obligations or such other Third Priority Lien Obligations (including any mandatory prepayment required by
the Senior Term Loan Facility) (a “Collateral Asset Sale Offer”), to purchase the maximum aggregate principal amount of the Notes that is a minimum of $100,000 or an integral multiple of $1,000 in excess thereof that may be
purchased out of the Collateral Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof (or, in the event such Notes or other Third Priority Lien Obligations were issued with significant original issue
discount, 100% of the accreted value thereof), plus accrued and unpaid interest and Additional Interest, if any, (or, in respect of other Third Priority Lien Obligations, such lesser price, if any, as may be provided for by the terms of such other
Third Priority Lien Obligations) to the date fixed for the closing of such offer, in accordance with the procedures set forth in the Indenture; provided, that with respect to any Net Proceeds from Asset Sales of Collateral realized or received by
any Foreign Subsidiary, the aggregate amount of such Net Proceeds required to be applied shall be further subject to reduction to the extent the expatriation of such Net Proceeds (1) would result in adverse tax or legal consequences,
(2) would be reasonably likely to result in adverse personal liability of any director of the Company or a Foreign Subsidiary or (3) would result in the insolvency of a Foreign Subsidiary. The Issuer will commence a Collateral Asset Sale
Offer with respect to Collateral Excess Proceeds within ten (10) Business Days after the date that Collateral Excess Proceeds exceed $200.0 million by mailing the notice required pursuant to the terms of this Indenture, with a copy to the
Trustee. Any Net Proceeds from any Asset Sale of non-Collateral (other than Specified ABL Facility Assets and other than to the extent required to be used in any accepted offer or otherwise to repay any First Priority Lien Obligations as required
under the First Lien Notes and related indenture, or Senior Term Loan Facility or other agreement governing First Priority Lien Obligations or Second Priority Lien Obligations) that are not invested or applied as provided and within the time period
set forth in Section 4.06(b) (it being understood that any portion of such Net Proceeds used to purchase or make an offer to purchase Notes, as described in clause (i) of this Section 4.06(b), shall be deemed to have been invested
whether or not such offer is accepted) will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $200.0 million, the Issuer shall make an offer to all holders of Notes (and, at the option
of the Company, to holders of any Pari Passu Indebtedness) (an “Asset Sale Offer”) to purchase the maximum principal amount of Notes (and such Pari Passu Indebtedness) that is at least $100,000 and an integral multiple of $1,000 in
excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof (or, in the event such Pari Passu Indebtedness was issued with significant original issue discount,
100% of the accreted value thereof), plus accrued and unpaid interest and Additional Interest, if any (or, in respect of such Pari Passu Indebtedness, such lesser price, if any, as may be provided for by the terms of such Pari Passu
Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Section 4.06; provided that with respect to any Net Proceeds from Asset Sales of non-Collateral realized or received by
any Foreign Subsidiary, the aggregate amount of such Net Proceeds required to be applied shall be subject to reduction to the extent the expatriation of such Net Proceeds (1) would result in adverse tax or legal consequences, (2) would be
reasonably likely to result in adverse personal liability of any director of the Company or a Foreign Subsidiary or (3) would result in the insolvency of the Foreign Subsidiary. The Issuer will commence an Asset Sale Offer with respect to
Excess Proceeds within ten (10) Business Days after the date that Excess Proceeds exceed $200.0 million by mailing the notice required pursuant to the terms of Section 4.06(f), with a copy to the Trustee. 

To the extent that the aggregate amount of Notes and such other Third Priority Lien Obligations tendered pursuant to a Collateral Asset
Sale Offer is less than the Collateral Excess Proceeds, the Company may use any remaining Collateral Excess Proceeds for any purpose that is not prohibited by the Indenture. If the aggregate principal amount of Notes or other Third Party Lien
Obligations surrendered by such holders thereof exceeds the amount of Collateral Excess Proceeds, the Trustee shall select the Notes and such other Third Priority Lien Obligations to be purchased in the manner described below. To the extent that the
aggregate amount of Notes (and such Pari Passu Indebtedness) tendered pursuant to an 
  

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Asset Sale Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for any purpose that is not prohibited by this Indenture. If the aggregate principal amount of
Notes (and such Pari Passu Indebtedness) surrendered by holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Notes to be purchased in the manner described in Section 4.06(f). Upon completion of any such Collateral
Asset Sale Offer or Asset Sale Offer, the amount of Collateral Excess Proceeds or Excess Proceeds, as the case may be, shall be reset at zero. 

(c) The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations to
the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this
Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its Obligations described in this Indenture by virtue thereof. 

(d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the Issuer
shall deliver to the Trustee an Officer’s Certificate as to (i) the amount of the Excess Proceeds, (ii) the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made and (iii) the
compliance of such allocation with the provisions of Section 4.06(b). On such date, the Issuer shall also irrevocably deposit with the Trustee or with a paying agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is acting as the
Paying Agent, segregate and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held for payment in accordance with the provisions of this Section 4.06. Upon
the expiration of the period for which the Asset Sale Offer remains open (the “Offer Period”), the Issuer shall deliver to the Trustee for cancellation the Notes or portions thereof that have been properly tendered to and are to be
accepted by the Issuer. The Trustee (or the Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering holder in the amount of the purchase price as so specified in the Officer’s Certificate. In
the event that the Excess Proceeds delivered by the Issuer to the Trustee are greater than the purchase price of the Notes tendered, the Trustee shall deliver the excess to the Issuer immediately after the expiration of the Offer Period for
application in accordance with Section 4.06. 
 (e) Not later than the date upon which written notice of a Collateral Asset
Sale Offer is delivered to the Trustee as provided above, the Issuer shall deliver to the Trustee an Officer’s Certificate as to (i) the amount of the Collateral Excess Proceeds, (ii) the allocation of the Net Proceeds from the
Collateral Asset Sales pursuant to which such Collateral Asset Sale Offer is being made and (iii) the compliance of such allocation with the provisions of Section 4.06(b). On such date, the Issuer shall also irrevocably deposit with the
Trustee or with a Paying Agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is acting as the Paying Agent, segregate and hold in trust) an amount equal to the Collateral Excess Proceeds to be invested in Cash Equivalents, as directed
in writing by the Issuer, and to be held for payment in accordance with the provisions of this Section 4.06. Upon the expiration of the period for which the Collateral Asset Sale Offer remains open (the “Collateral Asset Sale Offer
Period”), the Issuer shall deliver to the Trustee for cancellation the Notes or portions thereof that have been properly tendered to and are to be accepted by the Issuer. The Trustee (or the Paying Agent, if not the Trustee) shall, on the date
of purchase, mail or deliver payment to each tendering holder in the amount of the purchase price as instructed in the Officer’s Certificate. In the event that the Collateral Excess Proceeds delivered by the Issuer to the Trustee are greater
than the purchase price of the Notes tendered, the Trustee shall deliver the excess to the Issuer reasonably promptly following a Responsible Officer’s actual knowledge of the expiration of the Collateral Asset Sale Offer Period for application
in accordance with Section 4.06. 
 (f) Holders electing to have a Note purchased shall be required to surrender the Note,
with an appropriate form duly completed, to the Issuer at the address specified in the notice at least 
  

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three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior to the purchase
date, a telegram, telex, facsimile transmission or letter setting forth the name of the holder, the principal amount of the Note which was delivered by the holder for purchase and a statement that such holder is withdrawing his election to have such
Note purchased. If at the end of the Offer Period more Notes (and such Third Priority Lien Obligations or Pari Passu Indebtedness, as applicable) are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase, Notes tendered
will be repurchased on a pro rata basis; provided that no Notes of $100,000 or less shall be purchased in part. Selection of such Third Priority Lien Obligations or Pari Passu Indebtedness, as applicable shall be made pursuant to the
terms of such Third Priority Lien Obligations or Pari Passu Indebtedness. 
 (g) Notices of an Asset Sale Offer or Collateral
Asset Sale Offer shall be mailed by first class mail, postage prepaid, at least 30 but not more than 60 days before the purchase date to each holder of Notes at such holder’s registered address. If any Note is to be purchased in part only, any
notice of purchase that relates to such Note shall state the portion of the principal amount thereof that has been or is to be purchased. 

SECTION 4.07. Transactions with Affiliates. 

(a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, make any payment to, or
sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions, contract, agreement, understanding, loan, advance or
guarantee with, or for the benefit of, any Affiliate of the Company (each of the foregoing, an “Affiliate Transaction”) involving aggregate consideration in excess of $25.0 million, unless: 

(i) such Affiliate Transaction is on terms that are not less favorable to the Company or the relevant Restricted
Subsidiary than those that could have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person; and 

(ii) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate
consideration in excess of $100.0 million, the Company delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Company, approving such Affiliate Transaction and set forth in an Officer’s
Certificate certifying that such Affiliate Transaction complies with clause (a) above. 
 (b) The provisions of
Section 4.07(a) shall not apply to the following: 
 (i) transactions between or among the Company and/or
any of its Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Issuer and any direct parent of the Issuer; 

(ii) Restricted Payments permitted by Section 4.04 and Permitted Investments; 

(iii) the payment of reasonable and customary fees and reimbursement of expenses paid to, and indemnity provided on behalf
of, officers, directors, managers, employees or consultants of the Company or any Restricted Subsidiary or any direct or indirect parent entity of the Company; 

(iv) transactions in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee
a letter from an Independent Financial Advisor stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (i) of Section 4.07(a); 

 

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 (v) payments or loans (or cancellation of loans) to officers, directors,
employees or consultants which are approved by a majority of the Board of Directors of the Company in good faith; 

(vi) any agreement as in effect as of the Issue Date or any amendment thereto (so long as any such agreement together with
all amendments thereto, taken as a whole, is not more disadvantageous to the holders of the Notes in any material respect than the original agreement as in effect on the Issue Date) or any transaction contemplated thereby as determined in good faith
by the Company; 
 (vii) the existence of, or the performance by the Company or any of its Restricted
Subsidiaries of its obligations under the terms of, any registration rights agreement to which it is a party as of the Issue Date, and any amendment thereto or similar agreements or arrangements which it may enter into thereafter; provided,
however, that the existence of, or the performance by the Company or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such existing agreement or under any similar agreement entered into after the Issue
Date shall only be permitted by this clause (vii) to the extent that the terms of any such existing agreement together with all amendments thereto, taken as a whole, or new agreement are not otherwise more disadvantageous to the holders of the
Notes in any material respect than the original agreement as in effect on the Issue Date; 
 (viii) the Emergence
Transactions, including the payment of fees and expenses paid in connection therewith; 
 (ix) (A) transactions
with customers, clients, suppliers or purchasers or sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the
terms of this Indenture, which are fair to the Company and its Restricted Subsidiaries in the reasonable determination of the Board of Directors or the senior management of the Company, or are on terms at least as favorable as might reasonably have
been obtained at such time from an unaffiliated party or (B) transactions with Joint Ventures or Unrestricted Subsidiaries entered into in the ordinary course of business and consistent with past practice or industry norm; 

(x) any transaction effected as part of a Qualified Receivables Financing; 

(xi) the issuance of Equity Interests (other than Disqualified Stock) of the Company to any Person; 

(xii) the issuances of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the
funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Company or any direct or indirect parent entity of the Company or of a Restricted Subsidiary of
the Company, as appropriate, in good faith; 
 (xiii) the entering into of any tax sharing agreement or
arrangement that complies with Section 4.04(b)(xii); 
 (xiv) any contribution to the capital of the
Company; 
  

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 (xv) transactions between the Company or any of its Restricted Subsidiaries
and any Person that is an Affiliate of the Company or any of its Restricted Subsidiaries solely because a director of such Person is also a director of the Company or any direct or indirect parent entity of the Company; provided,
however, that such director abstains from voting as a director of the Company or any direct or indirect parent entity of the Company, as the case may be, on any matter involving such other Person; 

(xvi) pledges of Equity Interests of Unrestricted Subsidiaries; 

(xvii) the formation and maintenance of any consolidated group or subgroup for tax, accounting or cash pooling or
management purposes in the ordinary course of business; 
 (xviii) any employment agreements entered into by the
Company or any of its Restricted Subsidiaries in the ordinary course of business; 
 (xix) transactions
undertaken in good faith (as certified by a responsible financial or accounting officer of the Company in an Officer’s Certificate) for the purpose of improving the consolidated tax efficiency of the Company and its Subsidiaries and not for the
purpose of circumventing any provision set forth in this Indenture; and 
 (xx) transactions entered into by a
Person prior to the time such Person becomes a Restricted Subsidiary or is merged or consolidated into the Company or a Restricted Subsidiary (provided such transaction is not entered into in contemplation of such event). 

SECTION 4.08. Change of Control. 

(a) Upon a Change of Control after the Issue Date, each holder shall have the right to require the Issuer to repurchase all or any part
of such holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the date of repurchase (subject to the right of the holders of record
on the relevant Record Date to receive interest due on the relevant Interest Payment Date), in accordance with the terms contemplated in this Section 4.08; provided, however, that notwithstanding the occurrence of a Change of
Control, the Issuer shall not be obligated to purchase any Notes pursuant to this Section 4.08 in the event that it has exercised its right to redeem such Notes in accordance with Article III of this Indenture. 

(b) In the event that at the time of such Change of Control the terms of any First Priority Lien Obligation or Second Priority Lien
Obligation restrict or prohibit the repurchase of Notes pursuant to this covenant, then prior to the mailing of the notice to holders provided for in the immediately following paragraph but in any event within 30 days following any Change of
Control, the Issuer shall: 
 (1) repay in full all such Indebtedness under the First Priority Lien Obligation
or Second Priority Lien Obligation, as applicable, containing all such restrictions or prohibitions or, if doing so will allow the purchase of Notes, offer to repay in full all such Credit Facility Indebtedness and repay such Credit Facility
Indebtedness owed to each lender and/or noteholder who has accepted such offer; or 
 (2) obtain the requisite
consent under the agreements governing such First Priority Lien Obligation or Second Priority Lien Obligation, as applicable, to permit the repurchase of the Notes as provided for in the immediately following clause (c); 

 

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it being understood that failure to repay in full all such Indebtedness under the First Priority Lien Obligation or Second Priority Lien Obligation, as applicable, or obtain such requisite
consent, shall not release the Issuer of its obligation to make a Change of Control Offer (as defined below) and repurchase the Notes as required hereunder. 

(c) Within 30 days following any Change of Control, except to the extent that the Issuer has exercised its right to redeem the Notes in
accordance with Article III of this Indenture, the Issuer shall mail a notice (a “Change of Control Offer”) to each holder with a copy to the Trustee stating: 

(i) that a Change of Control has occurred and that such holder has the right to require the Issuer to repurchase such
holder’s Notes at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the date of repurchase (subject to the right of the holders of record on the
relevant Record Date to receive interest on the relevant Interest Payment Date); 
 (ii) the circumstances and
relevant facts and financial information regarding such Change of Control; 
 (iii) the repurchase date (which
shall be no earlier than 30 days nor later than 60 days from the date such notice is mailed); and 
 (iv) the
instructions determined by the Issuer, consistent with this Section 4.08, that a holder must follow in order to have its Notes purchased. 

(d) holders electing to have a Note purchased shall be required to surrender the Note, with an appropriate form duly completed, to the
Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior to the
purchase date a telegram, telex, facsimile transmission or letter setting forth the name of the holder, the principal amount of the Note which was delivered for purchase by the holder and a statement that such holder is withdrawing his election to
have such Note purchased. Holders whose Notes are purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered. 

(e) On the repurchase date, all Notes purchased by the Issuer under this Section shall be delivered to the Trustee for cancellation, and
the Issuer shall pay the purchase price plus accrued and unpaid interest to the holders entitled thereto. 
 (f) A Change
of Control Offer may be made in advance of a Change of Control, and conditioned upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 

(g) Notwithstanding the foregoing provisions of this Section 4.08, the Issuer shall not be required to make a Change of Control
Offer upon the consummation of a Change of Control if a third party makes the Change of Control Offer in the manner, at the time and otherwise in compliance with the requirements set forth in this Section 4.08 applicable to a Change of Control
Offer made by the Issuer and purchases all Notes properly tendered and not withdrawn under such Change of Control Offer. 
 (h)
Notes repurchased by the Issuer pursuant to a Change of Control Offer will have the status of Notes issued but not outstanding or will be retired and canceled at the option of the Issuer. Notes purchased by a third party pursuant to the preceding
clause (g) will have the status of Notes issued and outstanding. 
  

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 (i) At the time the Issuer delivers Notes to the Trustee which are to be accepted for
purchase, the Issuer shall also deliver an Officer’s Certificate stating that such Notes are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section 4.08. A Note shall be deemed to have been accepted for
purchase at the time the Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering holder. 

(j) Prior to any Change of Control Offer, the Issuer shall deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel
stating that all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. 

(k) The Issuer shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other
securities laws or regulations in connection with the repurchase of Notes pursuant to this Section. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.08, the Issuer shall comply
with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section by virtue thereof. 

SECTION 4.09. Compliance Certificate. The Issuer shall deliver to the Trustee within 120 days after the end of each fiscal year of
the Issuer, beginning with the fiscal year ending on December 31, 2010, an Officer’s Certificate stating that in the course of the performance by the signer of his or her duties as an Officer of the Issuer he or she would normally have
knowledge of any Default and whether or not the signer knows of any Default that occurred during such period. If he or she does, the certificate shall describe the Default, its status and what action the Issuer is taking or proposes to take with
respect thereto. The Issuer also shall comply with Section 314(a)(4) of the TIA. Except with respect to receipt of payments of principal and interest on the Notes and any Default or Event of Default information contained in the Officer’s
Certificate delivered to it pursuant to this Section 4.09, the Trustee shall have no duty to review, ascertain or confirm the Issuer’s compliance with or the breach of any representation, warranty or covenant made in this Indenture.

 SECTION 4.10. Further Instruments and Acts. 

(a) The Issuer shall execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to
carry out more effectively the purpose of this Indenture. 
 (b) Within the time period set forth on Schedule 4.10, the Issuer
and the Guarantors shall deliver, furnish and/or cause to be delivered or furnished, all of the documents as set forth on Schedule 4.10. 

SECTION 4.11. Future Subsidiary Guarantors. 

(a) The Company shall cause each (i) Domestic Subsidiary of the Company (other than the Issuer) that is Wholly Owned other than, at
the election of the Issuer, an Excluded Subsidiary and (ii) Wholly Owned Restricted Subsidiary of the Company (other than the Issuer), in each case, that guarantees the First Lien Notes or the Senior Term Loan Facility to execute and deliver to
the Trustee (a) a supplemental indenture joining each such Subsidiary of the Company to this Indenture substantially in the form of Exhibit B hereto; and (b) Security Documents and intercreditor agreements providing for Junior Lien
Obligations (other than, in the case of the ABL Facility Collateral, which shall be subject to a second priority security interest), pursuant to which such Subsidiary will guarantee payment of the Notes on the same terms and subject to the same
conditions and limitations as those described under Article 12 in this Indenture (each such guarantee of the Notes, an “Additional Guarantee”). 
  


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 (b) Notwithstanding the foregoing and the other provisions of this Indenture, any Additional
Guarantee of the Notes by a Domestic Subsidiary of the Company that is a Wholly Owned Restricted Subsidiary shall provide by its terms that it shall be automatically and unconditionally released and discharged in the circumstances described under
Section 12.02 hereof. Any Additional Guarantee shall be considered a “Guarantee” as described Section 12.01 and any such Domestic Subsidiary of the Company providing such Additional Guarantee shall be considered a
“Guarantor” as described under Section 12.01. 
 SECTION 4.12. Liens. The Company shall not, and shall not
permit any Restricted Subsidiary to, directly or indirectly, create, Incur, assume or suffer to exist any Indebtedness secured by a Lien (except Permitted Liens) on any asset or property of the Company or such Restricted Subsidiary, now owned or
hereafter acquired, without making effective provision whereby any and all Notes then or thereafter outstanding will be secured by a Lien equally and ratably with (or, if the obligation to be secured by such Lien is subordinated in right of payment
to the Notes, prior to) any and all other obligations thereby secured for so long as any such obligations shall be so secured. 

Any Lien created for the benefit of the holders pursuant to this covenant will provide by its terms that such Lien will be automatically
and unconditionally released and discharged (a) upon the release and discharge of the Lien that gave rise to the obligation to secure the Notes under this covenant (the “Initial Lien”), (b) upon the sale or other disposition of
the assets subject to such Initial Lien (or the sale or other disposition of the Person that owns such assets) in compliance with the terms of the Indenture, (c) upon the designation of a Restricted Subsidiary whose property or assets secure
such Initial Lien as an Unrestricted Subsidiary in accordance with the terms of the Indenture or (d) upon the effectiveness of any defeasance or satisfaction and discharge of the Notes specified in the Indenture. 

SECTION 4.13. After-Acquired Property. Subject to Permitted Liens and the 3-16 Exemption and the Excluded Assets limitations, if
any of the Company, the Issuer or any Pledgor acquires any First or Second Priority After-Acquired Property, the Company, the Issuer or such Pledgor shall execute and deliver such mortgages, deeds of trust, security instruments, financing statements
and certificates and opinions of counsel as shall be reasonably necessary to vest in the Collateral Agent a perfected third priority security interest, subject only to Permitted Liens, in such First or Second Priority After-Acquired Property and to
have such First or Second Priority After-Acquired Property added to the Collateral, and thereupon all provisions of this Indenture relating to the Collateral shall be deemed to relate to such First or Second Priority After-Acquired Property to the
same extent and with the same force and effect. In addition, if granting a security interest in such property requires the consent of a third party, the Company will use commercially reasonable efforts to obtain such consent (i) with respect to
the first priority security interest for the benefit of the First Lien Notes Collateral Agent on behalf of the holders of the First Lien Notes and for the benefit of the Senior Term Loan Collateral Agent on behalf of the lenders under the Senior
Term Loan Facility, (ii) with respect to the second priority security interest for the benefit of the ABL Collateral Agents on behalf of lenders under ABL Facility and (iii) with respect to the third priority security interest for the
benefit of Trustee on behalf of the holders of the Notes. If such third party does not consent to the granting of the first priority security interest after the use of such commercially reasonable efforts, the applicable entity will not be required
to provide such first, second and third priority security interest. The Issuer, the Company and the Pledgors will also ensure that third priority security interests are maintained as security for the Notes in any property or assets pledged to secure
the ABL Facility. 
 SECTION 4.14. Maintenance of Office or Agency. 

(a) The Issuer shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee or Registrar)
where Notes may be surrendered for registration of 
  

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 transfer or for exchange and where notices and demands to or upon the Issuer in respect of the Notes and
this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee as set forth in Section 13.02. 

(b) The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered
for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain an office or agency for
such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

(c) The Issuer hereby designates the corporate trust office of the Trustee or its agent as such office or agency of the Issuer in
accordance with Section 2.04. 
 SECTION 4.15. Maintenance of Insurance. The Company shall maintain with reputable
insurance companies, insurance with respect to its assets, properties and business against loss or damage to the extent available on commercially reasonable terms of the kinds customarily insured against by Persons of similar size engaged in the
same or similar industry, of such types and in such amounts (after giving effect to any self-insurance (including captive industry insurance) reasonable and customary for similarly situated Persons of similar size engaged in the same or similar
businesses as the Company, the Issuer and the Restricted Subsidiaries) as are customarily carried under similar circumstances (including flood insurance) by such other Persons to the extent available to the Company and the Restricted Subsidiaries on
commercially reasonable terms. 
 SECTION 4.16. Covenant Suspension. If on any date following the Issue Date,
(i) the Notes have achieved and continue to maintain Investment Grade Ratings from two Rating Agencies and (ii) no Default has occurred and is continuing (such period is referred to herein as an “Investment Grade Status
Period”), then beginning on that date and continuing until the Reversion Date (the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension
Event”), the covenants described under Sections 4.03, 4.04, 4.05, 4.06, 4.07 and 5.01(c)(iv) (the “Suspended Covenants”) will not be applicable to the Notes. 

If on any date subsequent to a Covenant Suspension Event (the “Reversion Date”) one or both of the Rating Agencies
withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below an Investment Grade Rating, then the Company and its Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants under this Indenture
with respect to future events. The period of time between the Covenant Suspension Event and the Reversion Date is referred to as the “Suspension Period.” 

On each Reversion Date, all Indebtedness Incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension Period will be
classified as having been Incurred or issued pursuant to Section 4.03(a) or 4.03(b) (to the extent such Indebtedness or Disqualified Stock or Preferred Stock would be permitted to be Incurred or issued thereunder as of the Reversion Date and
after giving effect to Indebtedness Incurred or issued prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or Disqualified Stock or Preferred Stock would not be so permitted to be Incurred or issued
pursuant to Section 4.03(a) or 4.03(b) such Indebtedness or Disqualified Stock or Preferred Stock will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under Section 4.03(b)(iv). Calculations made
after the Reversion Date of the amount available to be 
  

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 made as Restricted Payments under Section 4.04 will be made as though the covenant described under
Section 4.04 had been in effect since the Issue Date and throughout the Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will reduce the amount available to be made as Restricted Payments under
Section 4.04(a). As described above, however, no Default or Event of Default will be deemed to have occurred on the Reversion Date as a result of any actions taken by the Company or its Restricted Subsidiaries during the Suspension Period. For
purposes of Section 4.06, on the Reversion Date, the unutilized Collateral Excess Proceeds and Excess Proceeds amount will be reset to zero. 

SECTION 4.17. Withholding Taxes. 

(a) All payments made under or with respect to the Notes and Guarantees by (i) the Issuer, (ii) the Company or (iii) any
entity that becomes a successor of the Issuer or the Company that is organized in a jurisdiction other than the United States, any state thereof or the District of Columbia as a result of a merger of or other transaction permitted by
Section 5.01 (each such person, a “Payor”) will be made free and clear of and without withholding or deduction for or on account of any present or future tax, duty, levy, impost, assessment or other governmental charge
(including, without limitation, penalties, interest and other similar liabilities related thereto) of whatever nature (collectively, “Taxes”) imposed or levied by or on behalf of any jurisdiction in which any Payor is organized,
resident or doing business for tax purposes or from or through which any Payor makes any payment on the Notes or its Guarantee or any department or political subdivision thereof (each, a “Relevant Taxing Jurisdiction”), unless such
Payor is required to withhold or deduct Taxes by law. If any Payor is required by law to withhold or deduct any amount for or on account of Taxes of a Relevant Taxing Jurisdiction from any payment made under or with respect to the Notes or such
Guarantee, the Payor, shall make all such deductions and withholdings in respect of Taxes, and shall pay the full amount deducted or withheld in respect of Taxes to the relevant taxation authority or other governmental authority in accordance with
the applicable requirements of law. If any Payor is so required by law to withhold or deduct, such Payor shall not be obligated to pay any additional amounts in respect of such withholding or deduction on account of Taxes to the holders of the
Notes. 
 The foregoing obligations of this Section 4.17 will survive any termination, defeasance or discharge of this
Indenture and the removal or resignation of the Trustee and the Agents and will apply mutatis mutandis to any jurisdiction in which any successor Person to any Payor and to any jurisdiction in which such successor is organized or is otherwise
resident or doing business for tax purposes or any jurisdiction from or through which payment is made by such successor or its respective agents. 

ARTICLE V 

SUCCESSOR COMPANY 

SECTION 5.01. When Issuer May Merge or Transfer Assets. 

(a) The Company shall not, directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into (whether or
not the Company is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person unless: 

(i) the Company is the surviving Person or the Person formed by or surviving any such consolidation, amalgamation,
merger, winding up or conversion (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation, partnership or limited liability company organized or existing
under the laws of the United States, any state thereof, the District of Columbia, Canada or any province 
  

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thereof or any state which was a member of the European Union on December 31, 2003 (other than Greece) (the Company or such Person, as the case may be, being herein called the
“Successor Company”); provided that in the case where the surviving Person is not a corporation, a co-obligor of the Notes is a corporation; 

(ii) the Successor Company (if other than the Company) expressly assumes all the Obligations of the Company under this
Indenture and the Notes pursuant to supplemental indentures or other documents or instruments in form required by this Indenture and in compliance with the intercreditor agreements; 

(iii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an Obligation of
the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no Default or Event of Default shall have
occurred and be continuing; 
 (iv) immediately after giving pro forma effect to such transaction, as if
such transaction had occurred at the beginning of the applicable four-quarter period (and treating any Indebtedness which becomes an Obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having
been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction), either 

(A) the Successor Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed
Charge Coverage Ratio test set forth in Section 4.03(a); or 
 (B) the Fixed Charge Coverage Ratio for the
Successor Company and its Restricted Subsidiaries would be greater than such ratio for the Company and its Restricted Subsidiaries immediately prior to such transaction; and 

(v) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that such consolidation, merger, amalgamation or transfer and such supplemental indentures (if any) comply with this Indenture. 

(b) The Successor Company (if other than the Company) will succeed to, and be substituted for, the Company under this Indenture and the
Notes, and in such event the Company will automatically be released and discharged from its Obligations under this Indenture and the Notes. Notwithstanding the first sentence of this covenant, without complying with the foregoing clause (iv), the
Company may (A) merge with an Affiliate that has no material assets or liabilities and that is incorporated or organized solely for the purpose of reincorporating or reorganizing the Issuer in any state of the U.S., the District of Columbia,
Canada or any province thereof or any state which was a member state of the European Union on December 31, 2003 (other than Greece) and (B) may otherwise convert its legal form under the laws of its jurisdiction of organization.

 (c) The Issuer may not, directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into
(whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person unless: 

(i) the Issuer is the surviving Person or the Person formed by or surviving any such consolidation, amalgamation, merger,
winding up or conversion (if other than the Issuer) or to 
  

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which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation, partnership or limited liability company organized or existing under the laws
of the United States, any state thereof or the District of Columbia (the Issuer or such Person, as the case may be, being herein called the “Successor Issuer”); provided that in the case where the surviving Person is not a
corporation, a co-obligor of the Notes is a corporation; 
 (ii) the Successor Issuer (if other than the Issuer)
expressly assumes all the Obligations of the Issuer under this Indenture and the Notes pursuant to supplemental indentures or other documents or instruments in form required by this Indenture and in compliance with the intercreditor agreements;

 (iii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an
Obligation of the Successor Issuer or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Issuer or such Restricted Subsidiary at the time of such transaction) no Default or Event of Default
shall have occurred and be continuing; 
 (iv) immediately after giving pro forma effect to such
transaction, as if such transaction had occurred at the beginning of the applicable four-quarter period (and treating any Indebtedness which becomes an Obligation of the Successor Issuer or any of its Restricted Subsidiaries as a result of such
transaction as having been Incurred by the Successor Issuer or such Restricted Subsidiary at the time of such transaction), either (a) the Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed
Charge Coverage Ratio test set forth in the first sentence of Section 4.03; or (b) the Fixed Charge Coverage Ratio for the Company and its Restricted Subsidiaries would be greater than such ratio for the Company and its Restricted
Subsidiaries immediately prior to such transaction; and 
 (v) the Issuer shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, amalgamation or transfer and such supplemental indentures (if any) comply with this Indenture. 

(d) The Successor Issuer (if other than the Issuer) will succeed to, and be substituted for, the Issuer under this Indenture and the
Notes, and in such event the Issuer will automatically be released and discharged from its Obligations under this Indenture and the Notes. Notwithstanding the first sentence of this covenant, without complying with the foregoing clause (4), the
Issuer may (A) merge with an Affiliate that has no material assets or liabilities and that is incorporated or organized solely for the purpose of reincorporating or reorganizing the Issuer, as the case may be, in any state of the U.S. or the
District of Columbia and (B) may otherwise convert its legal form under the laws of its jurisdiction of organization so long as there remains a corporate co-obligor. Section 5.01 shall not apply to a sale, assignment, transfer, conveyance
or other disposition of assets between or among the Company and its Restricted Subsidiaries. 
 (e) Subject to the provisions of
Section 11.04 (which govern the release of assets and property securing the Notes upon the sale or disposition of a Restricted Subsidiary of the Company that is a Pledgor), no Pledgor shall, and the Company shall not permit any Pledgor to,
consolidate, amalgamate or merge with or into or wind up into (whether or not such Pledgor is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more
related transactions to, any Person unless: 
 (i) either (A) such Pledgor is the surviving Person or the
Person formed by or surviving any such consolidation, amalgamation or merger (if other than such Pledgor) or to which such 
  

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sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company organized or existing under the laws of the
United States, any state thereof, the District of Columbia, or any territory thereof (such Pledgor or such Person, as the case may be, being herein called the “Successor Pledgor”) and the Successor Pledgor (if other than such
Pledgor) expressly assumes all the Obligations of such Pledgor under this Indenture, the Security Documents and such Pledgor’s Obligations in respect of the Notes pursuant to documents or instruments in form required by this Indenture and in
compliance with the intercreditor agreements, or (B) such sale or disposition or consolidation, amalgamation or merger is not in violation of Section 4.06; and 

(ii) the Successor Pledgor (if other than such Pledgor) shall have delivered or caused to be delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. 

Except as otherwise provided in this Indenture, the Successor Pledgor (if other than such Pledgor) will succeed to, and be substituted
for, such Pledgor under this Indenture and such Pledgor’s Obligations in respect of the Notes, and such Pledgor will automatically be released and discharged from its Obligations under this Indenture and such Pledgor’s Obligations in
respect of the Notes. Notwithstanding the foregoing, (1) a Pledgor may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of reincorporating or reorganizing such Pledgor in another state of the United States,
the District of Columbia or any territory of the United States so long as the amount of Indebtedness of the Pledgor is not increased thereby and (2) a Pledgor may merge, amalgamate or consolidate with another Pledgor or the Company or may
convert its legal form under the laws of reorganization in its jurisdiction. 
 In addition, notwithstanding the foregoing, any
Pledgor may consolidate, amalgamate or merge with or into or wind up into, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets (collectively, a “Transfer”) to the Company or
any Pledgor. 
 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.01. Events of Default. An “Event of Default” occurs with respect to Notes if: 

(a) there is a default in any payment of interest (including any Additional Interest) on any Note when the same becomes
due and payable, and such default continues for a period of 30 days, 
 (b) there is a default in the payment of
principal or premium, if any, of any Note when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise, 

(c) the failure by the Company or any Restricted Subsidiary to comply for 60 days after notice with its other agreements
contained in the Notes or this Indenture, 
 (d) the failure by the Company or any Significant Subsidiary (or
any group of Subsidiaries that together would constitute a Significant Subsidiary) to pay any Indebtedness (other than Indebtedness owing to the Company or a Restricted Subsidiary) within any applicable grace 

 

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period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated
exceeds $100.0 million or its foreign currency equivalent, 
 (e) either the Company, the Issuer or any
Significant Subsidiary of the Issuer 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 any substantial part of its property; or

 (iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any
foreign laws relating to insolvency, 
 (f) a court of competent jurisdiction enters an order or decree under
any Bankruptcy Law that: 
 (i) is for relief against either the Issuer or any Significant Subsidiary of the
Issuer in an involuntary case; 
 (ii) appoints a Custodian of either the Issuer or any Significant Subsidiary
of the Issuer or for any substantial part of its property; or 
 (iii) orders the winding up or liquidation of
either the Issuer or any Significant Subsidiary of the Issuer; 
 or any similar relief is granted under any foreign laws and
the order or decree remains unstayed and in effect for 60 days, 
 (g) failure by the Company or any Significant
Subsidiary (or any group of Subsidiaries that together would constitute a Significant Subsidiary) to pay final judgments aggregating in excess of $100.0 million or its foreign currency equivalent (net of any amounts which are covered by enforceable
insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period of 60 days, 

(h) the Guarantee of the Company or a Significant Subsidiary (or any group of Subsidiaries that together would constitute
a Significant Subsidiary) ceases to be in full force and effect (except as contemplated by the terms thereof) or the Company denies or disaffirms its Obligations under this Indenture and such Default continues for 10 days, 

(i) unless all of the Notes Collateral has been released from the third priority Liens in accordance with the provisions
of the Security Documents, the third priority Liens on all or substantially all of the Notes Collateral cease to be valid or enforceable and such Default continues for 30 days, or the Company, the Issuer or any Pledgor shall assert, in any pleading
in any court of competent jurisdiction, that any such security interest is invalid or unenforceable and, in the case of any such Person that is a Subsidiary of the Company, the Company fails to cause such 

 

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Subsidiary to rescind such assertions within 30 days after the Company has actual knowledge of such assertions, or 

(j) the failure by the Company, the Issuer or any Pledgor to comply for 60 days after notice with its other agreements
contained in the Security Documents except for a failure that would not be material to the holders of the Notes and would not materially affect the value of the Collateral taken as a whole. 

The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or
involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 

The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law for the relief of
debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 

However, a default under clauses (c) or (j) above shall not constitute an Event of Default until the Trustee or the holders of
30% in aggregate principal amount of outstanding Notes notify the Issuer of the default and the Issuer does not cure such default within the time specified in clauses (c) or (j) hereof after receipt of such notice. Such notice must specify
the Default, demand that it be remedied and state that such notice is a “Notice of Default.” The Issuer shall deliver to the Trustee, within five (5) Business Days after the occurrence thereof, written notice in the form of an
Officer’s Certificate of any event which is, or with the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or propose to take with respect thereto. 

SECTION 6.02. Acceleration. If an Event of Default (other than an Event of Default specified in Section 6.01(e) or 6.01(f)
hereof with respect to the Company or the Issuer) occurs and is continuing, the Trustee or the holders of at least 30% in aggregate principal amount of outstanding Notes by notice to the Issuer may declare the principal of, premium, if any, and
accrued but unpaid interest on all the Notes to be due and payable. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in Section 6.01(e) or (f) with respect to the
Company or the Issuer occurs, the principal of, premium, if any, and interest on all the Notes will become immediately due and payable without any declaration or other act on the part of the Trustee or any holders. Under certain circumstances, the
holders of a majority in aggregate principal amount of outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. 

In the event of any Event of Default specified in Section 6.01(d) above, such Event of Default and all consequences thereof
(excluding, however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the holders of the Notes, if within 20 days after such Event of Default arose the Issuer delivers an
Officer’s Certificate to the Trustee stating that (x) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (y) the holders thereof have rescinded or waived the acceleration, notice or action
(as the case may be) giving rise to such Event of Default or (z) the default that is the basis for such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Notes as
described above be annulled, waived or rescinded upon the happening of any such events. 
 SECTION 6.03. Other Remedies.
If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Notes or to enforce the performance of any provision of the Notes, this
Indenture or the Security Documents. 
  

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 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does
not produce any of them in the proceeding. A delay or omission by the Trustee or any holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the
Event of Default. No remedy is exclusive of any other remedy. To the extent required by law, all available remedies are cumulative. 

SECTION 6.04. Waiver of Past Defaults. Provided the Notes are not then due and payable by reason of a declaration of
acceleration, the holders of a majority in principal amount of the Notes by written notice to the Trustee may waive an existing Default and its consequences except (a) a Default in the payment of the principal of or interest on a Note,
(b) a Default arising from the failure to redeem or purchase any Note when required pursuant to the terms of this Indenture or (c) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of
each holder affected. When a Default is waived, it is deemed cured and the Issuer, the Trustee and the holders will be restored to their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or other
Default or impair any consequent right. 
 SECTION 6.05. Control by Majority. The holders of a majority in principal
amount of Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that
conflicts with law or this Indenture or, if the Trustee, being advised by counsel, determines that the action or proceeding so directed may not lawfully be taken or if the Trustee in good faith by its board of directors or trustees, executive
committee, or a trust committee of directors or trustees and/or Responsible Officers shall determine that the action or proceeding so directed would involve the Trustee in personal liability or expense for which it is not adequately indemnified, or
subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of any other holder or that would involve the Trustee in personal liability. Prior to taking any action under this Indenture, the Trustee shall be entitled
to reasonable indemnification security satisfactory to it in its reasonable discretion against all losses and expenses caused by taking or not taking such action. 

SECTION 6.06. Limitation on Suits. 

(a) Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no holder may pursue any remedy
with respect to this Indenture or the Notes unless: 
 (i) such holder has previously given the Trustee notice
that an Event of Default is continuing, 
 (ii) holders of at least 30% in aggregate principal amount of the
outstanding Notes have requested the Trustee to pursue the remedy, 
 (iii) such holders have offered the
Trustee security and reasonable indemnity against any loss, liability or expense acceptable to the Trustee in its sole discretion, 

(iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of
security and indemnity, and 
 (v) the holders of a majority in aggregate principal amount of the outstanding
Notes have not given the Trustee a direction inconsistent with such request within such 60-day period. 
 (b) A holder may not
use this Indenture to prejudice the rights of another holder or to obtain a preference or priority over another holder. 
  

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 SECTION 6.07. Rights of the Holders to Receive Payment. Notwithstanding any other
provision of this Indenture, the right of any holder to receive payment of principal of and interest on the Notes held by such holder, on or after the respective due dates expressed or provided for in the Notes, or to bring suit for the enforcement
of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such holder. 

SECTION 6.08. Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a) or (b) occurs and is
continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Notes for the whole amount then due and owing (together with interest on overdue principal and (to the
extent lawful) on any unpaid interest at the rate provided for in the Notes) and the amounts provided for in Section 7.07. 

SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim, statements of interest and other papers
or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or such other
professionals as the Trustee deems necessary, advisable or appropriate)) and the holders allowed in any judicial proceedings relative to the Issuer or the Company, any Pledgor, their creditors or their property, shall be entitled to participate as a
member, voting or otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the holders in any election of a trustee in bankruptcy or other Person
performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the
holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. 

SECTION 6.10. Priorities. Subject to the terms of the First Lien Intercreditor Agreement, the Junior Lien Intercreditor Agreement
and the Security Documents, any money or property collected by the Trustee pursuant to this Article VI and any other money or property distributable in respect of the Issuer’s or any Guarantor’s obligations under this Indenture after an
Event of Default shall be applied in the following order: 
 FIRST: to the Trustee and the Agents for amounts due under
Section 7.07; 
 SECOND: to the holders for amounts due and unpaid on the Notes for principal, premium, if
any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal and interest, respectively; and 

THIRD: to the Issuer or, to the extent the Trustee collects any amount for any Guarantor, to the such Guarantor.

 The Trustee may fix a record date and payment date for any payment to the holders pursuant to this Section. At least 15 days
before such record date, the Trustee shall mail to each holder and the Issuer a notice that states the record date, the payment date and amount to be paid. 

SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a
suit by the Trustee, a suit by a holder pursuant to Section 6.06 or 6.07 or a suit by holders of more than 10% in principal amount of the Notes. 
  

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 SECTION 6.12. Waiver of Stay or Extension Laws. Neither the Issuer nor any Guarantor
(to the extent it may lawfully do so) shall at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect
the covenants or the performance of this Indenture; and the Issuer and the Guarantors (to the extent that it may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of
any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

ARTICLE VII 

TRUSTEE AND AGENTS 

SECTION 7.01. Duties of Trustee and Agents. 

(a) The Trustee, prior to the occurrence of an Event of Default with respect to the Notes and after the curing or waiving of all Events
of Default which may have occurred, undertake to perform such duties and only such duties as are specifically set forth in this Indenture. If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested
in them by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

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

(i) the Trustee and Agents undertake to perform such duties and only such duties as are specifically set forth in this
Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee and Agents (it being agreed that the permissive right of the Trustee and Agents to do things enumerated in this Indenture shall not be construed
as a duty); and 
 (ii) in the absence of bad faith on its part, the Trustee and Agents may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and Agents and conforming to the requirements of this Indenture. The Trustee and Agents shall be under no
duty to make any investigation as to any statement contained in any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates
or opinions required by any provision hereof to be provided to it, the Trustee and Agents shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate
the accuracy of mathematical calculations or other facts stated therein). 
 (c) The Trustee or Agents may not be relieved from
liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

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

 

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 (ii) the Trustee or Agents shall not be liable for any error of judgment
made in good faith by a Trust Officer or Agent unless it is proved that the Trustee or Agent was negligent in ascertaining the pertinent facts; 

(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance
with a direction received by it pursuant to Section 6.05; and 
 (iv) no provision of this Indenture shall
require the Trustee or Agents to expend or risk its own funds or otherwise Incur financial or personal liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this
Section and paragraph (b) and (c) with respect to the Agents. 
 (e) The Trustee and Agents shall not be liable for
interest on any money received by it except as the Trustee and Agents may agree in writing with the Issuer. 
 (f) Money held in
trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) Every provision of
this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee and Agents shall be subject to the provisions of this Section and the Trustee shall be subject to the provisions of the TIA. 

SECTION 7.02. Rights of Trustee and Agents. 

(a) The Trustee and Agents may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the
proper person. The Trustee and Agents need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee
or Agents acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee and Agents shall not be liable for any action it takes or omits to take in good faith in reliance on the
Officer’s Certificate or Opinion of Counsel. 
 (c) The Trustee and Agents may act through agents and shall not be
responsible for the misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee and Agents shall not be
responsible or liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s and Agents’ conduct does not constitute
willful misconduct or negligence. 
 (e) The Trustee and Agents may consult with counsel of its own selection and the advice or
opinion of counsel with respect to legal matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in
accordance with the advice or opinion of such counsel. 
 (f) The Trustee and Agents 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, debenture, note or other paper or document unless requested in writing to do so
by the holders of not less than a majority in principal amount of the Notes at the time outstanding, but the Trustee and Agents, in their discretion, may (but shall not be obligated to) make such further inquiry or investigation into such facts or
matters as it may see fit, and, if the Trustee or Agents shall determine to make such further inquiry 
  

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 or investigation, they shall be entitled to examine the books, records and premises of the Issuer,
personally or by agent or attorney, at the expense of the Issuer and shall Incur no liability of any kind by reason of such inquiry or investigation. Any and all notices, instructions, demands, requests, consents, appraisals, correspondence or other
communications shall be in writing and delivered in accordance with Section 13.02. 
 (g) The Trustee or Agents shall be
under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the holders pursuant to this Indenture, unless such holders shall have offered to the Trustee or Agents security and
indemnity satisfactory to the Trustee or Agents against the costs, expenses and liabilities which might be Incurred by it in compliance with such request or direction. 

(h) The rights, privileges, protections, immunities and benefits given to the Trustee and Agents, including its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee and Agents in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(i) The Trustee and Agents shall not be responsible or liable for any action taken or omitted by it in good faith at the direction of the
holders of not less than a majority in principal amount of the Notes as to the time, method and place of conducting any proceedings for any remedy available to the Trustee and Agents or the exercising of any power conferred by this Indenture.

 (j) Any action taken, or omitted to be taken, by the Trustee and Agents in good faith pursuant to this Indenture upon the
request or authority or consent of any person who, at the time of making such request or giving such authority or consent, is the holder of any Note shall be conclusive and binding upon future holders of Notes and upon Notes executed and delivered
in exchange therefor or in place thereof. 
 (k) The Trustee and Agents shall not be deemed to have notice of any Default or
Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default is received by the Trustee or Agents at the Corporate Office of the Trustee or Agents,
and such notice references the Notes and this Indenture. 
 (l) The Trustee and Agents may request that the Issuer deliver an
Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any Person authorized to sign
an Officer’s Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 

(m) The Trustee and Agents shall not be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee and Agents have been advised of the likelihood of such loss or damage and regardless of the form of actions. 

(n) The Trustee and Agents shall not be required to give any bond or surety in respect of the execution of the trusts and powers under
this Indenture. 
 (o) The Trustee and Agents shall not be responsible or liable for any failure or delay in the performance of
its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; 

 

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 fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions;
loss or malfunction of utilities, computer (hardware or software) or communication services; accidents; labor disputes; and acts of civil or military authorities and governmental action. 

SECTION 7.03. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of
Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11.

 SECTION 7.04. Trustee’s and Agents’ Disclaimer. The Trustee and Agents shall not be responsible for and
makes no representation as to the validity or adequacy of this Indenture, the Guarantees, the Notes, Liens, Collateral or Security Documents, it shall not be accountable for the Issuer’s use of the proceeds from the Notes, and it shall not be
responsible for any statement of the Issuer or any Guarantor in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s or Agents’ certificate of authentication. The
Trustee and Agents shall not be charged with knowledge of any Default or Event of Default under Sections 6.01(c) or (j) or of the identity of any Significant Subsidiary unless either (a) a Responsible Officer shall have actual knowledge
thereof or (b) the Trustee or Agents shall have received written notice thereof in accordance with Section 13.02 hereof from the Issuer, the Company or any Pledgor or any holder. In accepting the trust hereby created, the Trustee and
Agents acts solely as Trustee and Agents for the holders of the Notes and not in its individual capacity and all persons, including without limitation the holders of Notes and the Issuer having any claim against the Trustee and Agents arising from
this Indenture shall look only to the funds and accounts held by the Trustee and Agents hereunder for payment except as otherwise provided herein. 

SECTION 7.05. Notice of Defaults. If a Default occurs and is continuing and if it is actually known to the Trustee, the Trustee
shall mail to each holder notice of the Default within the earlier of 90 days after it occurs or 30 days after it is actually known to a Trust Officer or written notice of it is received by the Trustee. Except in the case of a Default in the payment
of principal of, premium (if any) or interest on any Note, the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of the holders. The Issuer is
required to deliver to the Trustee, annually, a certificate indicating whether the signers thereof know of any Default that occurred during the previous year. The Issuer also is required to deliver to the Trustee, within 30 days after the occurrence
thereof, written notice of any event which would constitute certain Defaults, their status and what action the Issuer is taking or proposes to take in respect thereof. 

SECTION 7.06. Reports by Trustee to the Holders. As promptly as practicable after each June 30 beginning with the
June 30 following the date of this Indenture, and in any event prior to July 30 in each year, the Trustee shall mail to each holder a brief report dated as of such July 30 that complies with Section 313(a) of the TIA if and to
the extent required thereby. The Trustee shall also comply with Section 313(b) of the TIA. 
 A copy of each report at the
time of its mailing to the holders shall be filed with the SEC and each stock exchange (if any) on which the Notes are listed. The Issuer agrees to notify promptly the Trustee whenever the Notes become listed on any stock exchange and of any
delisting thereof. 
 SECTION 7.07. Compensation and Indemnity. The Issuer shall pay to the Trustee and Agents from time
to time such compensation, as the Issuer and the Trustee and Agents shall from time to time agree in writing, for the Trustee’s and Agent’s acceptance of this Indenture and its applicable services hereunder. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee or Agents upon request for all reasonable out-of-pocket expenses Incurred or made by it, including costs of collection, in
addition to the compensation 
  

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 for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and
advances of the Trustee’s or Agents’ applicable agents and counsel. The Issuer and the Guarantors, jointly and severally shall indemnify and hold harmless the Trustee and any predecessor Trustee and their directors, employees and agents or
Agents against any and all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses except for such actions to the extent caused by any negligence, bad faith or willful misconduct on their part) Incurred by
or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture or Guarantee against the Issuer or any Guarantor (including this
Section 7.07) and defending itself against or investigating any claim (whether asserted by the Issuer, any Guarantor, any holder or any other Person). The obligation to pay such amounts shall survive the payment in full or defeasance of the
Notes or the removal or resignation of the Trustee or Agents. The Trustee and Agents shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; provided, however, that any
failure so to notify the Issuer shall not relieve the Issuer or any Guarantor of its indemnity obligations hereunder. Upon receipt of such notice from the indemnified party, the Issuer or Guarantor, as applicable, shall be entitled to participate in
such Proceeding and, to the extent that it shall so desire and provided no conflict of interest exists as specified in subparagraph (b) below or there are no other defenses available to the indemnified party as specified in subparagraph
(d) below, to assume the defense thereof with counsel reasonably satisfactory to the indemnified party (in which case all attorney’s fees and expenses shall be borne by the Issuer or the Guarantor and the Issuer or Guarantor shall in good
faith defend the indemnified party). The indemnified party shall have the right to employ separate counsel hi any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be borne by the indemnified
party unless (a) the Issuer or Guarantor agrees in writing to pay such fees and expenses, (b) the indemnified party shall have reasonably and in good faith concluded that there is a conflict of interest between the Issuer or Guarantor and
the indemnified party in the conduct of the defense of such action, (c) the Issuer or the Guarantor fails, within ten (10) days prior to the date the first response or appearance is required to be made in such Proceeding, to assume the
defense of such Proceeding with counsel reasonably satisfactory to the indemnified party or (d) there are legal defenses available to indemnified party that are different from or are in addition to those available to the Issuer o r the
Guarantor. 
 To secure the Issuer’s and the Guarantors’ payment obligations in this Section, the Trustee and Agents
shall have a Lien prior to the Notes on all money or property held or collected by the Trustee and Agents other than money or property held in trust to pay principal of and interest on particular Notes. 

The Issuer’s and the Guarantors’ payment and indemnity obligations pursuant to this Section shall survive the satisfaction or
discharge of this Indenture, any rejection or termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee or Agents. Without prejudice to any other rights available to the Trustee and Agents under applicable
law, when the Trustee and Agents Incur expenses after the occurrence of a Default specified in Section 6.01(f) or (g) with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law.

 No provision of this Indenture shall require the Trustee or Agents to expend or risk its own funds or otherwise Incur any
financial or personal liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity and security against such risk or liability is not assured to its
satisfaction. 
 SECTION 7.08. Replacement of Trustee and Agents. 

(a) The Trustee or Agents may resign by so notifying the Issuer in writing at least 30 days in advance. The holders of a majority in
principal amount of the Notes may remove the Trustee or 
  

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 Agents by so notifying the Issuer and the applicable Trustee or Agent in writing at least 30 days in advance
nd may appoint a successor Trustee or Agent with the Issuer’s consent. A resignation or removal of a Trustee or Agent and appointment of a successor Trustee or Agent shall become effective only with the successor Trustee’s or Agent’s
acceptance of appointment as provided in this Section. The Issuer shall remove the Trustee or Agent if: 
 (i)
the Trustee fails to comply with Section 7.10; 
 (ii) the Trustee or Agent is adjudged bankrupt or
insolvent; 
 (iii) a receiver or other public officer takes charge of the Trustee or its property; or

 (iv) the Trustee or Agent otherwise becomes incapable of acting. 

(b) If the Trustee or any Agent resigns, is removed by the Issuer or by the holders of a majority in principal amount of the Notes and
such holders do not reasonably promptly appoint a successor Trustee or Agent, or if a vacancy exists in the office of Trustee or an Agent for any reason (the Trustee or Agent in such event being referred to herein as the retiring Trustee or retiring
Agent), the Issuer shall promptly appoint a successor Trustee or Agent. 
 (c) The successor Trustee or Agent shall deliver a
written acceptance of its appointment to the retiring Trustee or retiring Agent and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee or Agent shall have all the rights,
powers and duties of the Trustee or Agent under this Indenture. The successor Trustee or Agent shall mail a notice of its succession to the holders. The retiring Trustee or retiring Agent shall promptly transfer all property held by it as Trustee or
Agent to the successor Trustee or Agent, subject to the Lien provided for in Section 7.07. 
 (d) If a successor Trustee or
Agent does not take office within 60 days after the retiring Trustee or retiring Agent resigns or is removed, the retiring Trustee or retiring Agent or the holders of 10% in principal amount of the Notes may petition at the expense of the Issuer any
court of competent jurisdiction for the appointment of a successor Trustee or Agent. 
 (e) If the Trustee fails to comply with
Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b) of the TIA, any holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for
the removal of the Trustee and the appointment of a successor Trustee. 
 (f) Notwithstanding the replacement of the Trustee
pursuant to this Section, the Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee or Agent. 

SECTION 7.09. Successor Trustee or Agent by Merger. If the Trustee or Agent consolidates with, merges or converts into, or
transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee or Agent;
provided, however, that such corporation shall be otherwise qualified and eligible under this Article VII. 
 In
case at the time such successor or successors by merger, conversion or consolidation to the Trustee or Agent shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor
to the Trustee or Agent may adopt the certificate of authentication of any predecessor trustee or agent, and deliver such Notes so authenticated; and in case at 
  


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 that time any of the Notes shall not have been authenticated, any successor to the Trustee or Agent may
authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee or Agent; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture
provided that the certificate of the Trustee or Agent shall have. 
 SECTION 7.10. Eligibility; Disqualification. The
Trustee shall at all times satisfy the requirements of Section 310(a) of the TIA. The Trustee shall have a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of condition. The Trustee
shall comply with Section 310(b) of the TIA, subject to its right to apply for a stay of its duty to resign under the penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be excluded from
the operation of Section 310(b)(1) of the TIA any series of securities issued under this Indenture and any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuer are
outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the TIA are met. 
 SECTION 7.11.
Preferential Collection of Claims Against the Issuer. The Trustee shall comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall
be subject to Section 311(a) of the TIA to the extent indicated. 
 SECTION 7.12. [Intentionally Omitted].

 SECTION 7.13. Payment of Parallel Debt Pursuant to Dutch Law. 

(a) In this Section 7.13: 

“Dutch Security Documents” means any Security Documents governed by the laws of The Netherlands; and

 “Principal Obligations” means all present and future Obligations to the extent for the
payment of money (whether actual or contingent and whether owed jointly or severally) by the Issuer under this Indenture. 
 (b)
With respect to Dutch Security Documents, and solely for purposes of the laws of The Netherlands: 
 (i) the
Issuer irrevocably and unconditionally undertakes to pay to the Trustee an amount equal to the aggregate of all Principal Obligations due and payable but unpaid (the “Parallel Debt”); 

(ii) the Parallel Debt constitutes obligations and liabilities of the Issuer to the Trustee which are separate and
independent from, and without prejudice to, the Principal Obligations and the Parallel Debt represents the Trustee’s own independent right to receive payment of the Parallel Debt from the Issuer; 

(iii) notwithstanding Section 7.13(b)(ii), if the Trustee receives or recovers any amount in respect of (A) the
Parallel Debt, the Principal Obligations decrease by that amount as if that amount was received or recovered directly in payment of the Principal Obligations and, for the avoidance of doubt, (B) the Principal Obligations, the Parallel Debt
decreases by that amount as if that amount had been received or recovered directly in payment of the Parallel Debt; 
  

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 (iv) the parties acknowledge and confirm that the provisions contained in
this Section 7.13 shall not be interpreted so as to increase the maximum total amount of the Principal Obligations under this Indenture; and 

(v) the Issuer shall not repay or prepay Parallel Debt if and as long as it owes Principal Obligations, unless directed to
do so by the Trustee and the Issuer is otherwise required to repay or prepay the Principal Obligations hereunder. 
 ARTICLE
VIII 
 DISCHARGE OF INDENTURE; DEFEASANCE 

SECTION 8.01. Discharge of Liability on Notes; Defeasance. 

(a) This Indenture shall be discharged and shall cease to be of further effect (except as to surviving rights of registration of transfer
or exchange of Notes, as expressly provided for in this Indenture) as to all outstanding Notes when: 
 (i)
either (a) all the Notes theretofore authenticated and delivered (except lost, stolen or destroyed Notes which have been replaced or paid and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust
by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have been delivered to the Trustee for cancellation or (b) all of the Notes (1) have become due and payable, (2) will become due and payable at their
stated maturity within one year or (3) if redeemable at the option of the Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name,
and at the expense, of the Issuer, and the Issuer has irrevocably deposited or caused to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire Indebtedness on the Notes not theretofore delivered to the Trustee
for cancellation, for principal of, premium, if any, and interest on the Notes to the date of deposit together with irrevocable instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption,
as the case may be; 
 (ii) the Issuer and/or the Company has paid all other sums payable under this Indenture;
and 
 (iii) the Issuer has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel
stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. 

(b) Subject to Sections 8.01(c) and 8.02, the Issuer at any time may terminate (i) all of its Obligations under the Notes and this
Indenture (with respect to the holders of the Notes) (“legal defeasance option”) or (ii) its Obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12, 4.13, 4.15 and 4.16 and the operation of
Section 5.01 for the benefit of the holders of the Notes, and Sections 6.01(c), 6.01(d) and Sections 6.01(e) and 6.01(f) (with respect to Significant Subsidiaries), 6.01(g), 6.01(h), 6.01(i) and 6.01(j) (“covenant defeasance
option”). The Issuer may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. In the event that the Issuer terminates all of its Obligations under the Notes and this Indenture (with
respect to such Notes) by exercising its legal defeasance option or its covenant defeasance option, the Obligations of each Guarantor with respect to the Notes and the Security Documents shall be terminated simultaneously with the termination of
such Obligations. 
  

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 If the Issuer exercises its legal defeasance option, payment of the Notes so defeased may
not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of Default specified in Section 6.01(c), 6.01(d), 6.01(e) and
6.01(f) (with respect to Significant Subsidiaries), 6.01(g), 6.01(h), 6.01(i) or 6.01(j) or because of the failure of the Company to comply with Section 5.01. 

Upon satisfaction of the conditions set forth herein and upon request of the Issuer, the Trustee shall acknowledge in writing the
discharge of those Obligations that the Issuer terminates. 
 (c) Notwithstanding clauses (a) and (b) above, the
Issuer’s obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article VIII shall survive until the Notes have been paid in full. Thereafter, the Issuer’s obligations in Sections 7.07, 8.05 and 8.06 shall
survive such satisfaction and discharge. 
 SECTION 8.02. Conditions to Defeasance. 

(a) The Issuer may exercise its legal defeasance option or its covenant defeasance option only if: 

(i) the Issuer irrevocably deposits in trust with the Trustee cash in U.S. Dollars, U.S. Government Obligations or a
combination thereof in an amount sufficient or U.S. Government Obligations, the principal of and the interest on which will be sufficient, or a combination thereof sufficient, to pay the principal of and premium (if any) and interest on the Notes
when due at maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; 

(ii) the Issuer delivers to the Trustee a certificate from a nationally recognized firm of independent accountants
expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such
amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Notes to maturity or redemption, as the case may be; 

(iii) 123 days pass after the deposit is made and during the 123-day period no Default specified in Section 6.01(e)
or (f) with respect to the Issuer occurs which is continuing at the end of the period; 
 (iv) the deposit
does not constitute a default under any other agreement binding on the Issuer and is not prohibited by Article X; 

(v) in the case of the legal defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel
stating that (1) the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2) since the date of this Indenture there has been a change in the applicable Federal income tax law, in either case
to the effect that, and based thereon such Opinion of Counsel shall confirm that, the holders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred. Notwithstanding the foregoing, the Opinion of Counsel required by the immediately preceding sentence with
respect to a legal defeasance need not be delivered if all of the Notes not theretofore delivered to the Trustee for cancellation (x) have become due and payable or (y) will become due and payable at their Stated Maturity within one year
under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer; 
  

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 (vi) impair the right of any holder to receive payment of principal of,
premium, if any, and interest on such holder’s Notes on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such holder’s Notes; 

(vii) in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel
to the effect that the holders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such deposit and defeasance had not occurred; and 
 (viii) the Issuer delivers to
the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Notes to be so defeased and discharged as contemplated by this Article VIII have been complied
with. 
 (b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Notes at a future date in accordance with Article III. 
 SECTION 8.03. Application of Trust Money. The Trustee
shall hold in trust money or U.S. Government Obligations (including proceeds thereof) deposited with it pursuant to this Article VIII. It shall apply the deposited money and the money from U.S. Government Obligations through each Paying Agent and in
accordance with this Indenture to the payment of principal of and interest on the Notes so discharged or defeased. 

SECTION 8.04. Repayment to Issuer. Each of the Trustee and each Paying Agent shall promptly turn over to the Issuer upon
request any money or U.S. Government Obligations held by it as provided in this Article which, in the written opinion of nationally recognized firm of independent public accountants delivered to the Trustee (which delivery shall only be required if
U.S. Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with this Article. 

Subject to any applicable abandoned property law, the Trustee and each Paying Agent shall pay to the Issuer upon written request any
money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, holders entitled to the money must look to the Issuer for payment as general creditors, and the Trustee and each Paying Agent shall
have no further liability with respect to such monies. 
 SECTION 8.05. Indemnity for U.S. Government Obligations.
The Issuer shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 

SECTION 8.06. Reinstatement. If the Trustee or any Paying Agent is unable to apply any money or U.S. Government Obligations
in accordance with this Article VIII by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under
this Indenture and the Notes so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article VIII until such time as the Trustee or any Paying Agent is permitted to apply all such money or U.S.
Government Obligations in accordance with this Article VIII; provided, however, that, if 
  

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the Issuer has made any payment of principal of, or interest on, any such Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the holders of
such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or any Paying Agent. 

ARTICLE IX 

AMENDMENTS AND WAIVERS 

SECTION 9.01. Without Consent of the Holders. 

(a) The Issuer, the Guarantors and the Trustee may amend this Indenture, the Security Documents, the Junior Lien Intercreditor Agreement
or the Notes without notice to or consent of any holder: 
 (i) to cure any ambiguity, omission, defect or
inconsistency to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not be inconsistent
with the provisions of this Indenture, or to make any other provisions as may be necessary or desirable, including the making of any modifications in the form of the Note, provided that such actions shall not adversely affect the interests of the
holders of the Notes in any material respect; 
 (ii) to provide for the assumption by a Successor Issuer of the
Obligations of the Issuer under this Indenture and the Notes; 
 (iii) to provide for the assumption by a
Successor Company of the Obligations of the Company under this Indenture and the Notes, to provide for the assumption by a Successor Pledgor of the Obligations of a Pledgor under this Indenture and the Security Documents; 

(iv) to add a Guarantor with respect to the Notes pursuant to Section 4.11; 

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

(vi) to conform the text of this Indenture, the Notes, the Security Documents, the First Lien Intercreditor Agreement or
the Junior Lien Intercreditor Agreement to any provision of the “Description of Third Lien Notes” contained in the Plan Supplement filed with the Bankruptcy Court on April 5, 2010 to the extent that such provision in the
“Description of Third Lien Notes” was intended to be a verbatim recitation of a provision of this Indenture, the Notes, the Security Documents, the First Lien Intercreditor Agreement or the Junior Lien Intercreditor Agreement; 

(vii) to evidence and provide acceptance of the appointment of a successor Trustee, Registrar, Paying Agent or Transfer
Agent under this Indenture; 
 (viii) to comply with the rules of any applicable securities depository;

 (ix) to add a Pledgor with respect to the Notes or to add Collateral to secure the Notes; 

 

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 (x) to release Collateral in compliance with this Indenture or the Junior
Lien Intercreditor Agreement; 
 (xi) to add additional secured creditors holding Other First-Lien Obligations,
other Junior Lien Obligations or any other secured Indebtedness permitted to be Incurred so long as such Obligations are in compliance with this Indenture, the First Lien Intercreditor Agreement or the Security Documents; 

(xii) to add to the covenants of the Company or the Restricted Subsidiaries for the benefit of the holders or to surrender
any right or power herein conferred upon the Company or the Restricted Subsidiaries; 
 (xiii) to comply with any
requirement of the SEC in connection with qualifying or maintaining the qualification of, this Indenture under the TIA; 

(xiv) to make any change that would provide any additional benefit or rights to the holders or that does not adversely
affect in any material respect the legal rights of any holder; or 
 (xv) to provide for the issuance of
Additional Notes, which shall have terms substantially identical in all material respects to the Initial Notes, and which shall be treated, together with any outstanding Initial Notes, as a single issue of securities; 

(xvi) to comply with the rules of any applicable securities depositary; or 

(xvii) to provide for the issuance of Additional Notes under this Indenture in accordance with the limitations set forth
in this Indenture. 
 (b) The Trustee may require an Officer’s Certificate or Opinion of Counsel that such amendment under
this Section 9.01(a) is permitted under this Indenture and that all conditions have been complied with. Notwithstanding the foregoing, no Opinion of Counsel shall be required in connection with the addition of a Guarantor under this Indenture
upon execution and delivery by such Guarantor and the Trustee of a supplemental indenture to this Indenture, the form of which is attached as Exhibit B hereto, and delivery of an Officer’s Certificate. 

(c) After an amendment under this Section 9.01 becomes effective, the Issuer shall mail to the holders a notice briefly describing
such amendment, provided that in the case of an amendment pursuant to Section 9.01(a)(xiv), no such notice shall be required. The failure to give such notice to all holders, or any defect therein, shall not impair or affect the validity of an
amendment under this Section 9.01. 
 SECTION 9.02. With Consent of the Holders. 

(a) The Issuer and the Trustee may amend this Indenture and the Security Documents with the written consent of the holders of at least a
majority in aggregate principal amount of the Notes then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange for the Notes). However, without the consent of each holder of an outstanding
Note affected, an amendment may not: 
 (1) reduce the amount of Notes whose holders must consent to an
amendment, 
 (2) reduce the rate of or extend the time for payment of interest on any Note, 

 

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 (3) reduce the principal of or change the Stated Maturity of any Note,

 (4) reduce the premium payable upon the redemption of any Note or change the time at which any Note may be
redeemed in accordance with Article III, 
 (5) make any Note payable in money other than that stated in such
Note, 
 (6) expressly subordinate the Notes to any other Indebtedness of the Company, the Issuer or any Pledgor,

 (7) impair the right of any holder to receive payment of principal of, premium, if any, and interest on such
holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such holder’s Notes, 

(8) make any change in the amendment provisions which require each holder’s consent or in the waiver provisions,

 (9) make any change in the provisions in the Junior Lien Intercreditor Agreement or this Indenture dealing
with the application of proceeds of Collateral that would adversely affect the holders of the Notes, or 
 (10)
except as expressly provided by this Indenture, modify or release the Guarantee of any Significant Subsidiary in any manner adverse to the holders of the Notes. 

In addition, without the consent of the holders of at least 66% in aggregate principal amount of Notes then outstanding, no amendment or
waiver may release all or substantially all of the Collateral from the Lien of this Indenture and the Security Documents with respect to the Notes. 

It shall not be necessary for the consent of the holders under this Section 9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment under this
Section 9.02 becomes effective, the Issuer shall mail to the holders a notice briefly describing such amendment. The failure to give such notice to all holders, or any defect therein, shall not impair or affect the validity of an amendment
under this Section 9.02. 
 SECTION 9.03. Compliance with Trust Indenture Act. From the date on which this
Indenture is qualified under the TIA, every amendment, waiver or supplement to this Indenture or the Notes shall comply with the TIA as then in effect. 

SECTION 9.04. Revocation and Effect of Consents and Waivers. 

(a) A consent to an amendment or a waiver by a holder of a Note shall bind the holder and every subsequent holder of that Note or portion
of the Note that evidences the same debt as the consenting holder’s Note, even if notation of the consent or waiver is not made on the Note. However, any such holder or subsequent holder may revoke the consent or waiver as to such holder’s
Note or portion of the Note if the Trustee receives the notice of revocation before the date on which the Trustee receives an Officer’s Certificate from the Issuer certifying that the requisite principal amount of Notes have consented. After an
amendment or waiver becomes effective, it shall bind every holder. An amendment or waiver becomes effective upon the (i) receipt by the Issuer or the Trustee of consents by the holders of the requisite principal amount of securities,
(ii) satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such amendment or waiver and (iii) execution of such amendment or waiver (or supplemental indenture) by the
Issuer and the Trustee. 
  

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 (b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph,
those Persons who were holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons
continue to be holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.05. Notation on or Exchange of Notes. If an amendment, supplement or waiver changes the terms of a Note, the Issuer
may require the holder of the Note to deliver it to the Trustee. The Trustee may place an appropriate notation on the Note regarding the changed terms and return it to the holder. Alternatively, if the Issuer or the Trustee so determines, the Issuer
in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the appropriate notation or to issue a new Note shall not affect the validity of such amendment, supplement or
waiver. 
 SECTION 9.06. Trustee to Sign Amendments. The Trustee shall sign any amendment, supplement or waiver
authorized pursuant to this Article IX if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, the Trustee shall be
entitled to receive indemnity or security reasonably satisfactory to it and shall be provided with, and for executing any amendment pursuant to Article IX, the Trustee (subject to Section 7.01) shall be fully protected in relying upon, an
Officer’s Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the
Issuer and the Company, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section 9.03). 

SECTION 9.07. Additional Voting Terms; Calculation of Principal Amount. All Notes issued under this Indenture shall vote and
consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter only if the Issuer so elects pursuant to Section 2.01 of this Indenture.
Determinations as to whether holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.14. 

ARTICLE X 

RANKING OF NOTE LIENS 

SECTION 10.01. Relative Rights. The First Lien Intercreditor Agreement and the Junior Lien Intercreditor Agreement define the
relative rights, as lienholders, of holders of first priority Liens, holders of Liens securing First Priority Lien Obligations and holders of Liens securing Junior Lien Obligations. Nothing in this Indenture or the Junior Lien Intercreditor
Agreement will: 
 (a) impair, as between the Issuer and holders of Notes, the obligation of the Issuer, which is
absolute and unconditional, to pay principal of, premium and interest on Notes in accordance with their terms or to perform any other obligation of the Issuer or any other obligor under this Indenture, the Notes, the Guarantees and the Security
Documents; 
  

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 (b) restrict the right of any holder to sue for payments that are then due
and owing, in a manner not inconsistent with the provisions of the Junior Lien Intercreditor Agreement; 
 (c)
prevent the Trustee, the Collateral Agent or any holder from exercising against the Issuer or any other obligor any of its other available remedies upon a Default or Event of Default (other than its rights as a secured party, which are subject to
the Junior Lien Intercreditor Agreement); or 
 (d) restrict the right of the Trustee, the Collateral Agent or
any holder: 
 (1) to file and prosecute a petition seeking an order for relief in an involuntary bankruptcy case
as to any obligor or otherwise to commence, or seek relief commencing, any insolvency or liquidation proceeding involuntarily against any obligor; 

(2) to make, support or oppose any request for an order for dismissal, abstention or conversion in any insolvency or
liquidation proceeding; 
 (3) to make, support or oppose, in any insolvency or liquidation proceeding, any
request for an order extending or terminating any period during which the debtor (or any other Person) has the exclusive right to propose a plan of reorganization or other dispositive restructuring or liquidation plan therein; 

(4) to seek the creation of, or appointment to, any official committee representing creditors (or certain of the
creditors) in any insolvency or liquidation proceedings and, if appointed, to serve and act as a member of such committee without being in any respect restricted or bound by, or liable for, any of the obligations under this Article X; 

(5) to seek or object to the appointment of any professional person to serve in any capacity in any insolvency or
liquidation proceeding or to support or object to any request for compensation made by any professional person or others therein; 

(6) to make, support or oppose any request for order appointing a trustee or examiner in any insolvency or liquidation
proceedings; or 
 (7) otherwise to make, support or oppose any request for relief in any insolvency or
liquidation proceeding that it is permitted by law to make, support or oppose: 
 if it were a holder of unsecured claims; or 

(x) as to any matter relating to any plan of reorganization or other 

(y) restructuring or liquidation plan or as to any matter relating to the administration of the estate or the disposition
of the case or proceeding (in each case except as set forth in [the First Lien Intercreditor Agreement] or the Junior Lien Intercreditor Agreement). 
  

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 ARTICLE XI 

COLLATERAL 

SECTION 11.01. Security Documents. 

The Company shall, and shall cause each Restricted Subsidiary to, and each Restricted Subsidiary shall, make all filings (including
filings of continuation statements and amendments to UCC financing statements that may be necessary to continue the effectiveness of such UCC financing statements) and all other actions as are necessary or required by the Security Documents to
maintain (at the sole cost and expense of the Company and its Restricted Subsidiaries) the security interest created by the Security Documents in the Collateral (other than with respect to any Collateral the security interest in which is not
required to be perfected under the Security Documents or this Indenture) as a perfected [third priority] security interest subject only to Permitted Liens. 

SECTION 11.02. Collateral Agent. 

(a) The Collateral Agent shall have all the rights and protections provided in the Security Documents. 

(b) Subject to Section 7.01, neither the Trustee nor the Collateral Agent nor any of their respective officers, directors,
employees, attorneys or agents will be responsible or liable for the existence, genuineness, value or protection of any Collateral, for the legality, enforceability, effectiveness or sufficiency of the Security Documents, for the creation,
perfection, priority, sufficiency or protection of any third priority Lien, or any defect or deficiency as to any such matters. 

(c) Subject to the Security Documents and the Junior Lien Intercreditor Agreement, (i) the Trustee shall direct the Collateral Agent
and (ii) except as directed by the Trustee as required or permitted by this Indenture and any other representatives or pursuant to the Security Documents, the holders acknowledge that the Collateral Agent will not be obligated: 

(1) to act upon directions purported to be delivered to it by any other Person; 

(2) to foreclose upon or otherwise enforce any third priority Lien; or 

(3) to take any other action whatsoever with regard to any or all of the third priority Liens, Security Documents or
Collateral. 
 (d) The holders of Notes agree that the Collateral Agent shall be entitled to the rights, privileges,
protections, immunities, indemnities and benefits provided to the Collateral Agent by the Security Documents. Furthermore, each holder of a Note, by accepting such Note, consents to the terms of and authorizes and directs the Trustee (in each of its
capacities) and hereby appoints, authorizes and directs the Collateral Agent to enter into and perform the Junior Lien Intercreditor Agreement and Security Documents in each of its capacities thereunder. 

(e) If the Issuer (i) Incurs Junior Lien Obligations at any time when the Junior Lien Intercreditor Agreement is not in effect or at
any time when Indebtedness constituting Junior Lien Obligations entitled to the benefit of an existing intercreditor agreement is concurrently retired, and (ii) directs the Trustee to request that the Collateral Agent to enter into an
intercreditor agreement (on substantially the same terms as the Junior Lien Intercreditor Agreement in effect on the Issue Date) in favor of a designated agent or representative for the holders of the Junior Lien Obligations so Incurred, the holders
acknowledge that the Collateral Agent is hereby authorized and directed to enter into such intercreditor agreement, bind the holders on the terms set forth therein and perform and observe its obligations thereunder. 

 

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 SECTION 11.03. Authorization of Actions to Be Taken. 

(a) Each holder, by its acceptance of the Notes, consents and agrees to the terms of the Security Documents (including, without
limitation, the provisions providing for foreclosure and release of Collateral) as the same may be in effect or may be amended from time to time in accordance with their terms, authorizes and directs the Trustee and the Collateral Agent to enter
into the Security Documents to which it is a party, authorizes and empowers the Trustee to direct the Collateral Agent to enter into, and the Collateral Agent to execute and deliver the Junior Lien Intercreditor Agreement and authorizes and empowers
the Trustee and the Collateral Agent to bind the holders of Notes and other holders of Obligations as set forth in the Security Documents to which it is a party and the Junior Lien Intercreditor Agreement and to perform its obligations and exercise
its rights and powers thereunder. 
 (b) The Trustee is authorized and empowered to receive for the benefit of the holders of
Notes any funds collected or distributed under the Security Documents to which the Trustee is a party and to make further distributions of such funds to the holders of Notes according to the provisions of this Indenture. 

(c) Subject to the provisions of Section 7.01 and Section 7.02 hereof, and the Junior Lien Intercreditor Agreement and the
Security Documents, the Trustee may (but shall not be obligated to), in its sole discretion and without the consent of the holders, direct, on behalf of the holders, the Collateral Agent to take all actions it deems necessary or appropriate in order
to: 
 (1) foreclose upon or otherwise enforce any or all of the third priority Liens; 

(2) enforce any of the terms of the Security Documents to which the Collateral Agent or Trustee is a party; or 

(3) collect and receive payment of any and all Obligations. 

Subject to the Junior Lien Intercreditor Agreement, the Trustee is authorized and empowered to institute and maintain, or direct the
Collateral Agent to institute and maintain, such suits and proceedings as it may deem expedient to protect or enforce the third priority Liens or the Security Documents to which the Collateral Agent or Trustee is a party or to prevent any impairment
of Collateral by any acts that may be unlawful or in violation of the Security Documents to which the Collateral Agent or Trustee is a party or this Indenture, and such suits and proceedings as the Trustee or the Collateral Agent may deem expedient
to preserve or protect its interests and the interests of the holders of Notes in the Collateral, including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental
enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of holders, the
Trustee or the Collateral Agent. 
 SECTION 11.04. Release of Collateral. 

(a) Subject to the Junior Lien Intercreditor Agreement, Liens on Collateral securing the Notes will be automatically and unconditionally
released: 
 (1) as to any property or asset (including Capital Stock of a Subsidiary of the Company), to enable
the Company, the Issuer and the Pledgors to consummate the disposition of such property or asset to the extent not prohibited by clause (5) below or under the covenants described under Section 4.04 or Section 4.06; 

 

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 (2) upon the release of all Liens on such property or assets securing First
and Second Priority Lien Obligations (including all commitments and letters of credit thereunder); provided, however, that if the Issuer or the Company subsequently incurs (i) First Priority Lien Obligations that are secured by Liens on
property or assets of the Issuer or the Company of the type constituting the Collateral and the related Liens are incurred in reliance on clauses (6)(B) or (6)(D) of the definition of Permitted Liens or (ii) Second Priority Lien
Obligations that are secured by Liens on property or assets of the Issuer or the Company of the type constituting the Collateral and the related Liens are incurred in reliance on clause (6)(C) of the definition of Permitted Liens, then the
Issuer and its Restricted Subsidiaries will be required to reinstitute the security arrangements with respect to the Collateral in favor of the Notes, which, in the case of any such subsequent First Priority Lien Obligations or Second Priority Lien
Obligations, will be junior priority Liens on the Collateral securing such First Priority Lien Obligations or Second Priority Lien Obligations to the same extent provided by the Security Documents and on the terms and conditions of the security
documents relating to such First Priority Lien Obligations or Second Priority Lien Obligations, with the junior priority Lien held either by the administrative agent, collateral agent or other representative for such First Priority Lien Obligations
or Second Priority Lien Obligations and subject to an intercreditor agreement that provides the administrative agent or collateral agent substantially the same rights and powers as afforded under the Junior Lien Intercreditor Agreement; 

(3) in respect of the property and assets of a Pledgor, upon the designation of such Pledgor to be an Unrestricted
Subsidiary in accordance with the covenant described under Section 4.04 and the definition of “Unrestricted Subsidiary”; 

(4) in respect of the property and assets of a Guarantor upon release of the Guarantee with respect to the Notes of such
Guarantor; 
 (5) in the case of the property and assets of a specific Pledgor, upon such Pledgor making a
Transfer of such assets to any Restricted Subsidiary of the Issuer that is not a Pledgor; provided that (i) such Transfer is not subject to Section 5.01 and (ii) the aggregate net book value of the assets of Restricted
Subsidiaries that are at any time Notes Collateral (as defined in the First Lien Security Documents) (excluding cash proceeds of accounts receivable, inventory and related assets) that are so transferred pursuant to this clause (5) subsequent
to the Issue Date shall not exceed 5% of the Consolidated Net Tangible Assets of the Issuer and its Restricted Subsidiaries per year and shall not be in an amount that will result in an Excluded Subsidiary ceasing to qualify as an Excluded
Subsidiary in accordance with the definition thereof; provided, further, that Liens on all property and assets of any Subsidiary of Lyondell Europe Holdings, Inc., a Delaware corporation, will be automatically and unconditionally
released upon any transfer of such Subsidiary; 
 (6) as described under Article IX; or 

(7) as to the pledge of Capital Stock of first-tier Foreign Subsidiaries, in connection with a reorganization, change or
modification of the direct or indirect ownership of Foreign Subsidiaries by the Company, the Issuer or a Pledgor, as applicable, in compliance with the First Lien Indenture, a release may be obtained as to such Capital Stock in connection with the
substitution of pledge of 65% of the voting Capital Stock and 100% of the non-voting Capital Stock of any one or more new or replacement first-tier Foreign Subsidiaries pursuant to valid Security Documents. 

 

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 Notwithstanding the foregoing clause (2), if an Event of Default exists on
the date of Discharge of First and Second Priority Lien Obligations, the Junior Priority Liens on the Collateral securing the Notes will not be released, except to the extent that the Collateral or any portion thereof was disposed of in order to
repay the First and Second Priority Lien Obligations secured by the Collateral, and thereafter the Trustee (or another designated representative acting at the direction of holders of a majority of outstanding principal amount of the Notes and other
Junior Lien Obligations) will have the right to direct the Agent to foreclose upon the Collateral (but in such event, the Liens on the Collateral securing the Notes will be released when such Event of Default and all other Events of Default cease to
exist). 
 In addition, the security interests granted pursuant to the Security Documents securing the Notes Obligations shall
automatically terminate and/or be released all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the applicable Pledgors (as defined in the Collateral Agreement), as of the
date upon (i) the payment in full of principal of, premium (if any), on, and accrued and unpaid interest and Additional Interest (if any) on the Notes and all the Obligations under the Notes and the Indenture and the Security Documents, (other
than contingent or unliquidated obligations or liabilities not then due) have been paid in full in cash or immediately available funds; (ii) a legal defeasance or covenant defeasance or discharge under Article VIII; [or (iii) the Holders
of at least two thirds in aggregate principal amount of all Notes issued under this Indenture consent to the termination of the Security Documents.] 

In connection with any termination or release pursuant to this Section 11.04(a), the Collateral Agent shall execute and deliver to
any Pledgor (as defined in the Collateral Agreement), at such Pledgor’s expense, all documents that such Pledgor shall reasonably request to evidence and provide such termination or release (including, without limitation, UCC termination
statements), and will duly assign and transfer to such Pledgor, such of the Pledged Collateral (as defined in the Collateral Agreement) that may be in the possession of the Collateral Agent and has not theretofore been sold or otherwise applied or
released pursuant to this Indenture or the Security Documents. Any execution and delivery of documents pursuant to this Section 11.04(a) shall be without recourse to or warranty by the Collateral Agent. In connection with any release pursuant
to this Section 11.04(a), the Pledgors shall be permitted to take any action in connection therewith consistent with such release including, without limitation, the filing of UCC termination statements. 

Upon the receipt of an Officer’s Certificate from the Issuer, as described in Section 11.04(b) below, if applicable, and any
necessary or proper instruments of termination, satisfaction or release prepared by the Issuer, the Collateral Agent shall execute, deliver or acknowledge such instruments or releases to evidence the release of any Collateral permitted to be
released pursuant to this Indenture or the Security Documents or the Junior Lien Intercreditor Agreement. 
 (b) Notwithstanding
anything herein to the contrary, in connection with (x) any release of Collateral pursuant to Section 11.04(a)(1), (5), (6) or (7) above, such Collateral may not be released from the Lien and security interest created by the
Security Documents and (y) any release of Collateral pursuant to Section 11.04(a)(2), (3) and (4), the Collateral Agent shall not be required to execute, deliver or acknowledge any instruments of termination, satisfaction or release
unless, in each case, an Officer’s Certificate and Opinion of Counsel certifying that all conditions precedent, including, without limitation, this Section 11.04, have been met and stating under which of the circumstances set forth in
Section 11.04(a) above the Collateral is being released have been delivered to the Collateral Agent on or prior to the date of such release or, in the case of clause (y) above, the date on which the Collateral Agent executes any such
instrument. 
 (c) To the extent that Rule 3-16 of Regulation S-X under the Securities Act requires or would require (or is
replaced with another rule or regulation, or any other law, rule or regulation is adopted, that would require) the filing with the SEC (or any other governmental agency) of separate 

 

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financial statements of any Subsidiary of the Company due to the fact that such Subsidiary’s Capital Stock secures the Notes or any First Priority Lien Obligation, Second Priority Lien
Obligation or Third Priority Lien Obligation, then the Capital Stock of such Subsidiary will automatically be deemed not to be part of the Notes Collateral securing the Notes but only to the extent necessary to not be subject to such requirement and
only for so long as required to not be subject to such requirement (such requirement, the “3-16 Exemption”); provided that the 3-16 Exemption will not apply to the capital stock of the Issuer and LyondellBasell Subholdings,
B.V. In such event, the Security Documents may be amended or modified, without the consent of any holder of such Notes, to the extent necessary to release the security interests in favor of the Collateral Agent on the shares of Capital Stock of such
Subsidiary that are so deemed to no longer constitute part of the Notes Collateral. In the event that Rule 3-16 of Regulation S-X under the Securities Act is amended, modified or interpreted by the SEC to permit (or is replaced with another rule or
regulation, or any other law, rule or regulation is adopted, that would permit) such Subsidiary’s Capital Stock to secure the Notes in excess of the amount then pledged without the filing with the SEC (or any other governmental agency) of
separate financial statements of such Subsidiary, then the Capital Stock of such Subsidiary will automatically be deemed to be a part of the Notes Collateral. The 3-16 Exemption will apply to the Collateral securing the Notes if it applies to the
Collateral securing the First Priority Lien Obligations. 
 (d) Notwithstanding anything herein to the contrary, at any time
when a Default or Event of Default has occurred and is continuing and the maturity of the Notes has been accelerated (whether by declaration or otherwise), no release of Collateral pursuant to the provisions of this Indenture or the Security
Documents will be effective as against the holders, except as otherwise provided in the Junior Lien Intercreditor Agreement. 

SECTION 11.05. Filing, Recording and Opinions. 

(a) The Issuer will comply with the provisions of TIA Sections 314(b), 314(c) and 314(d), in each case following qualification of this
Indenture pursuant to the TIA and except to the extent not required as set forth in any SEC regulation or interpretation (including any no-action letter issued by the Staff of the SEC, whether issued to the Issuer or any other Person). Following
such qualification, to the extent the Issuer is required to furnish to the Trustee an Opinion of Counsel pursuant to TIA Section 314(b)(2), the Issuer will furnish such opinion not more than 60 but not less than 30 days prior to each
September 30. 
 Any release of Collateral permitted by Section 11.04 hereof will be deemed not to impair the Liens
under this Indenture and the Security Documents in contravention thereof and any person that is required to deliver an Officer’s Certificate and Opinion of Counsel pursuant to Section 314(d) of the TIA, shall be entitled to rely upon the
foregoing as a basis for delivery of such certificate and opinion. The Trustee may, to the extent permitted by Sections 7.01 and 7.02 hereof, accept as conclusive evidence of compliance with the foregoing provisions the appropriate statements
contained in such documents, Officer’s Certificate and Opinion of Counsel. 
 (b) If any Collateral is released in
accordance with this Indenture and if the Issuer has delivered the certificates and documents required by the Security Documents and Section 11.04, and the Trustee has received all documentation required by TIA Section 314(d) in connection
with such release along with an Officer’s Certificate and the Opinion of Counsel delivered pursuant to Section 11.04, the Trustee will, upon request, execute an appropriate certificate confirming receipt of such items, 

(c) Any certificate or opinion required by Section 314(d) of the TIA may be made by an Officer of the Issuer, except in cases where
Section 314(d) requires that such certificate or opinion be made by an independent engineer, appraiser or other expert. 
  

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 (d) Notwithstanding anything to the contrary herein, the Issuer and its Subsidiaries will
not be required to comply with all or any portion of Section 314(d) of the TIA if they determine, in good faith based on advice of counsel, that under the terms of that section and/or any interpretation or guidance as to the meaning thereof of
the SEC and its staff, including “no action” letters or exemptive orders, all or any portion of Section 314(d) of the TIA is inapplicable to the released Collateral. 

(e) Upon the request of the Trustee, the Trustee shall be entitled to rely on an Officer’s Certificate and an Opinion of Counsel in
respect of any matter in furtherance of the foregoing transactions contemplated by this Section 11.05. 

SECTION 11.06. [Intentionally Omitted.] 

SECTION 11.07. Powers Exercisable by Receiver or Trustee. In case the Collateral shall be in the possession of a receiver or
trustee, lawfully appointed, the powers conferred in this Article XI upon the Issuer or the Company with respect to the release, sale or other disposition of such property may be exercised by such receiver or trustee, and an instrument signed by
such receiver or trustee shall be deemed the equivalent of any similar instrument of the Issuer or the Company or of any officer or officers thereof required by the provisions of this Article XI; and if the Trustee or the Collateral Agent shall be
in the possession of the Collateral under any provision of this Indenture or the Security Documents, then such powers may be exercised by the Trustee or the Collateral Agent, as the case may be. 

SECTION 11.08. Release upon Termination of the Issuer’s Obligations. In the event (i) that the Issuer delivers to
the Trustee, in form and substance acceptable to it, an Officer’s Certificate and Opinion of Counsel certifying that all the obligations under this Indenture, the Notes and the Security Documents have been satisfied and discharged by the
payment in full of the Issuer’s obligations under the Notes, this Indenture and the Security Documents, and all such obligations have been so satisfied, or (ii) a discharge, legal defeasance or covenant defeasance of this Indenture occurs
under Article VIII, the Trustee shall deliver to the Issuer and the Collateral Agent a notice stating that the Trustee, on behalf of the holders, disclaims and gives up any and all rights it has in or to the Collateral, and any rights it has under
the Security Documents, and upon receipt by the Collateral Agent of such notice, the Collateral Agent shall be deemed not to hold a Lien in the Collateral on behalf of the Trustee and shall (or shall direct the Collateral Agent to) do or cause to be
done all acts reasonably necessary to release such Lien as soon as is reasonably practicable. 
 SECTION 11.09.
Designations. For purposes of any provisions hereof or the Junior Lien Intercreditor Agreement requiring the Issuer to designate Indebtedness for the purposes of the terms Junior Lien Obligations or any other such designations hereunder or
under the Junior Lien Intercreditor Agreement, any such designation shall be sufficient if the relevant designation provides in writing that such Junior Priority Lien Obligations or any other such designation are permitted under this Indenture and
is signed on behalf of the Issuer by an Officer and delivered to the Trustee and the Collateral Agent in an Officer’s Certificate. 

ARTICLE XII 

GUARANTEE 

SECTION 12.01. Guarantee. 

(a) The Company, each existing and subsequently acquired or organized direct or indirect Wholly Owned Domestic Subsidiary of the Company
and each other entity, if any, that guarantees the First Lien Notes or the Senior Term Loan Facility (other than any Excluded Subsidiary) (each such 

 

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entity, a “Guarantor”) will, jointly and severally, irrevocably and unconditionally guarantee on a senior third-priority secured basis, as a primary obligor and not merely as a
surety, to each holder and to the Trustee and its successors and assigns (i) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all Obligations of the Issuer under this Indenture
(including obligations to the Trustee and the Agents) and the Notes, whether for payment of principal of, premium, if any, on and interest and Additional Interest, if any, in respect of the Notes (the “Guarantee”) and all other
monetary obligations of the Issuer under this Indenture and the Notes and (ii) the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise
under this Indenture and the Notes (all the foregoing, including the Guarantee, being hereinafter collectively called the “Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be extended or
renewed, in whole or in part, without notice or further assent from any Guarantor, and that each Guarantor shall remain bound under this Article XII notwithstanding any extension or renewal of any Guaranteed Obligation. 

(b) To the extent applicable, each Guarantor waives presentation to, demand of payment from and protest to the Issuer of any of the
Guaranteed Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i) the
failure of any holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person under this Indenture, the Notes or any other agreement or otherwise; (ii) any extension or renewal of
this Indenture, the Notes or any other agreement; (iii) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Notes or any other agreement; (iv) the release of any security held by any
holder or the Trustee for the Guaranteed Obligations or each Guarantor; (v) the failure of any holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership
of each Guarantor, except as provided in Section 12.02(b) or Section 12.02(c). Each Guarantor hereby waives any right to which it may be entitled to have its Obligations hereunder divided among the Guarantors, such that such
Guarantor’s obligations would be less than the full amount claimed. 
 (c) Each Guarantor hereby waives any right to which
it may be entitled to have the assets of the Issuer first be used and depleted as payment of the Issuer’s or such Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each Guarantor
hereby waives any right to which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Guarantor. 

(d) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when due (and
not a guarantee of collection) and waives any right to require that any resort be had by any holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(e) The Guarantee of each Guarantor, to the extent and in the manner set forth in Article XII, will be the senior third-priority secured
Obligations of the Guarantors equal in right of payment to all existing and future Pari Passu Indebtedness, equal in right of payment to all existing and future unsubordinated Indebtedness of the Guarantors and subordinated and subject in right of
payment to the prior payment in full of the principal of and premium, if any, and interest on all Secured Indebtedness of the relevant Guarantor and is made subject to such provisions of this Indenture. 

(f) Except as expressly set forth in Sections 8.01(b), 12.02 and 12.06, the obligations of each Guarantor hereunder shall not be subject
to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of 
  

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the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be
discharged or impaired or otherwise affected by the failure of any holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Notes or any other agreement, by any waiver or modification of any thereof, by
any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any
Guarantor or would otherwise operate as a discharge of any Guarantor as a matter of law or equity. 
 (g) Each Guarantor agrees
that its Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. Each Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any
time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any holder or the Trustee upon the bankruptcy or reorganization of the Issuer or otherwise. 

(h) In furtherance of the foregoing and not in limitation of any other right which any holder or the Trustee has at law or in equity
against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to
perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the holders or the Trustee an amount equal to the sum
of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by applicable law) and (iii) all other monetary obligations of
the Issuer to the holders, Trustee and Agents. 
 (i) Each Guarantor agrees that it shall not be entitled to any right of
subrogation in relation to the holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the holders and the
Trustee, on the other hand, (i) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article VI for the purposes of the Guarantee herein, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article VI, such Guaranteed Obligations (whether or
not due and payable) shall forthwith become due and payable by the Company for the purposes of this Section 12.01. 
 (j)
Each Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and expenses) Incurred by the Trustee, the Agents or any holder in enforcing any rights under this Section 12.01. 

(k) Upon request of the Trustee, each Guarantor shall execute and deliver such further instruments and do such further acts as may be
reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
 SECTION 12.02. Limitation
on Liability. 
 (a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of
the Guaranteed Obligations guaranteed hereunder by each Guarantor shall not exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it relates to such Guarantor, voidable under applicable law relating to
fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 
  

 -112- 









 (b) The Obligations of any Guarantor, including the Company, under its Guaranteed
Obligations will be automatically and unconditionally released and discharged from all Obligations under this Article XII when any of the following occurs: 

(i) upon the full and final payment by or on behalf of the Issuer of all of its Obligations under this Indenture and the
Notes; 
 (ii) except with respect to the Guarantee of the Company (subject to the provisions described under
Section 5.01) any issuance, sale, exchange, transfer or other disposition (including, without limitation, by way of acquisition, merger, amalgamation, consolidation, transfer, conveyance or otherwise), directly or indirectly, of Capital Stock
of such Guarantor (or any parent of such Guarantor) to any Person that is not a Restricted Subsidiary of the Company that results in such Guarantor ceasing to be a Restricted Subsidiary of the Company; provided that such issuance, sale,
exchange, transfer or other disposition is made in accordance with the provisions of this Indenture; 
 (iii)
except with respect to the Guarantee of the Company, the designation of such Guarantor as an Unrestricted Subsidiary in accordance with the provisions of this Indenture; 

(iv) except with respect to the Guarantee of the Company (subject to the provisions described under Section 5.01),
upon the liquidation or dissolution of such Guarantor; provided that no Default or Event of Default has occurred or is continuing or would be caused thereby; 

(v) except with respect to the Guarantee of the Company, the occurrence of legal defeasance or covenant defeasance in
accordance with this Indenture; 
 (vi) except with respect to the Guarantee of the Company [and for those
limitations described in the following paragraph], in the event that the continued Obligation of such Guarantor under its Guarantee or the continued existence of such Guarantee will result in a violation of applicable law that cannot be avoided or
otherwise prevented through measures reasonably available to the Company or such Guarantor; provided that all guarantees, if any, of all First Priority Lien Obligations by such Guarantor are also released; or 

(vii) upon such Guarantor being designated as an Excluded Subsidiary in compliance with this Indenture and the Company
gives written notice of such release to the Trustee. 
 In addition to the initial Guarantors, other Domestic Subsidiaries may
become Guarantors after the Issue Date, as provided under Section 12.06. The Guaranteed Obligations of the Guarantors will be limited as necessary to recognize certain defenses generally available to guarantors (including those that relate to
fraudulent conveyance or transfer, voidable preference, financial assistance, corporate purpose, capital maintenance or similar laws, regulations or defenses affecting the rights of creditors generally) or other considerations under applicable law.

 SECTION 12.03. Successors and Assigns. This Article XII shall be binding upon each Guarantor and its successors
and assigns and shall inure to the benefit of the successors and assigns of the Trustee, the Agents and the holders and, in the event of any transfer or assignment of rights by any holder, the Agents, or the Trustee, the rights and privileges
conferred upon that party in this Indenture and in the Notes shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 

 

 -113- 









 SECTION 12.04. No Waiver. Neither a failure nor a delay on the part of either
the Trustee, the Agents or the holders in exercising any right, power or privilege under this Article XII shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or
privilege. The rights, remedies and benefits of the Trustee, the Agents and the holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article XII at law, in
equity, by statute or otherwise. 
 SECTION 12.05. Modification. No modification, amendment or waiver of any
provision of this Article XII, nor the consent to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle any Guarantor to any other or further notice or demand in the same, similar or other circumstances. 

SECTION 12.06. Execution of Supplemental Indenture for Future Note Guarantors. Each Subsidiary and other Person which is
required to become a Guarantor of the Notes pursuant to Section 4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit B hereto pursuant to which such Subsidiary or other Person shall
become a Guarantor under this Article XII and shall guarantee the Notes. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Opinion of Counsel and an Officer’s Certificate to
the effect that such supplemental indenture has been duly authorized, executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other
similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and binding obligation of such guarantor, enforceable
against such Guarantor in accordance with its terms and/or to such other matters as the Trustee may reasonably request. 

SECTION 12.07. Non-Impairment. The failure to endorse a Guarantee on any Note shall not affect or impair the validity
thereof. 
 ARTICLE XIII 

MISCELLANEOUS 

SECTION 13.01. Trust Indenture Act Controls. If and to the extent that any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by, or with another provision (an “incorporated provision”) included in this Indenture by operation of, Sections 310 to 318 of the TIA, inclusive, such imposed duties or incorporated provision shall
control (provided that the foregoing shall not apply to Section 13.06 of this Indenture until the Indenture is qualified under the TIA). 
  

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 SECTION 13.02. Notices. 

(a) Any notice or communication required or permitted hereunder shall be in writing and delivered in person, via facsimile or electronic
mail or mailed by first-class mail addressed as follows: 
 if to the Issuer, the Company or a Guarantor: 

Lyondell Chemical Company 

1221 McKinney St 

Suite 700 

Houston, TX 77010 

Facsimile: 

Attention: Craig B. Glidden, Esq. 

if to the Trustee: 

Wells Fargo Bank, National Association 

45 Broadway, 14th floor 

New York, New York 10006 

Fax: 212-515-1589 

Attention: Corporate Trust Services — Administrator for Lyondell Chemical Company 

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

(b) Any notice or communication mailed to a holder shall be mailed, first class mail, to the holder at the holder’s address as it
appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 

(c) Failure to mail a notice or communication to a holder or any defect in it shall not affect its sufficiency with respect to other
holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. 

SECTION 13.03. Communication by the Holders with Other Holders. The holders may communicate pursuant to Section 312(b)
of the TIA with other holders with respect to their rights under this Indenture or the Notes. The Issuer, the Trustee, the Registrar and other Persons shall have the protection of Section 312(c) of the TIA. 

SECTION 13.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer to the
Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: 

(a) an Officer’s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the
signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all
such conditions precedent have been complied with. 
 SECTION 13.05. Statements Required in Certificate or Opinion.
Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section 4.09) shall include: 

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

 

 -115- 









 (b) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (c) a
statement that, in the opinion of such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied
with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

SECTION 13.06. When Notes Disregarded. In determining whether the holders of the required principal amount of Notes have
concurred in any direction, waiver or consent, Notes owned by (i) the Issuer, (ii) the Company or (iii) on and after the date this Indenture has been qualified under the TIA only, by any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Issuer or the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such
direction, waiver or consent, only Notes which the Trustee knows are so owned shall be so disregarded (it being expressly understood that prior to the date this Indenture has been so qualified Notes held by any Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Issuer or the Company shall not be disregarded). Subject to the foregoing, only Notes outstanding at the time shall be considered in any such determination. 

SECTION 13.07. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting
of the holders. The Registrar and a Paying Agent may make reasonable rules for their functions. 
 SECTION 13.08. Legal
Holidays. If a payment date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a
Business Day for the intervening period. If a regular Record Date is not a Business Day, the Record Date shall not be affected. 

SECTION 13.09. GOVERNING LAW. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 
 SECTION 13.10. No Recourse
Against Others. No director, officer, employee, manager, incorporator or holder of any Equity Interests in the Company, Issuer or any Guarantor or any direct or indirect parent corporation, as such, shall have any liability for any Obligations
of the Issuer or any Guarantor under the Notes or this Indenture or for any claim based on, in respect of, or by reason of, such Obligations or their creation. Each holder of Notes by accepting a Note waives and releases all such liability. The
waiver and release are part of the consideration for issuance of the Notes. 
 SECTION 13.11. Successors. All
agreements of the Issuer and the Company in this Indenture and the Notes shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. 

SECTION 13.12. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 
  

 -116- 









 SECTION 13.13. Table of Contents; Headings. The table of contents,
cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions
hereof. 
 SECTION 13.14. Indenture Controls. If and to the extent that any provision of the Notes limits, qualifies
or conflicts with a provision of this Indenture, such provision of this Indenture shall control. 
 SECTION 13.15.
Severability. In case any provision in this Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision
shall be ineffective only to the extent of such invalidity, illegality or unenforceability. 
 SECTION 13.16.
Intercreditor Agreements. The terms of this Indenture are subject to the terms of the Junior Lien Intercreditor Agreement. 

SECTION 13.17. PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the
Trustee and the Agents, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a
relationship or opens an account. The parties to this agreement agree that they will provide to the Trustee and the Agents with such information as it may request in order to satisfy the requirements of the USA PATRIOT Act. 

SECTION 13.18. Force Majeure. In no event shall the Trustee or any Agent be liable for any failure or delay in the performance of
its obligations hereunder because of circumstances beyond the Trustee’s or the Agents’ control, including, but not limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot or embargo, which delay,
restrict or prohibit the providing of the services contemplated by this Indenture. 
 [Remainder of page intentionally left
blank] 
  

 -117- 









 IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the
date first written above. 
  

			
	Lyondell Chemical Company, as the Issuer
		
	By:	 	  

		 	Name:
		 	Title:
	
	LyondellBasell Industries N.V., as the Company
		
	By:	 	  

		 	Name:
		 	Title:
	
	[Signatures for Other Guarantors to Come]











			
	Wells Fargo Bank, National Association, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:










 Schedule 4.10 

Post-Closing Matters 

(a) Within ninety (90) days after the Issue Date, to the extent not previously delivered, the Trustee and the Collateral Agent shall
have received each of the following documents: 
  

	 	(i)	Title Insurance. With respect to each Mortgage encumbering Mortgaged Property, a ALTA policy of title insurance (or commitment to issue such a policy having the
effect of a loan policy of title insurance) insuring (or committing to insure) the lien of such Mortgage (either on a per-property basis or on a collective basis) as a valid and enforceable first-priority mortgage or deed of trust lien on each
Mortgaged Property (other than pipeline easements) described therein, in an amount equal to not less than the fair market value of such Mortgaged Property (such policies collectively, the “Mortgage Policies”) issued by the title insurance
company, which reasonably assures the Collateral Agent that the Mortgages on such Mortgaged Properties are valid and enforceable mortgage liens on the respective Mortgaged Properties, free and clear of all defects and encumbrances except Permitted
Collateral Liens (as defined in the Mortgages) and such Mortgage Policies shall otherwise be in customary form and substance and shall bear such title endorsement as are necessary and advisable in connection with the creation of the security
interest evidenced by such Mortgage. 

  

	 	(ii)	Survey. The Company shall deliver to the applicable title insurance company any and all surveys and any and all affidavits as may be reasonably necessary to
cause such title insurance company to issue the title insurance required pursuant to clause (i) above. 

  

	 	(iii)	Consents. With respect to the applicable Mortgaged Property, the Company shall use commercially reasonable efforts to acquire such consents, approvals or tenant
subordination agreements, as are reasonably necessary to consummate the transactions or as shall be necessary and advisable in order for the owner or holder of such Mortgaged Property to grant the lien contemplated by the Mortgage.


  

	 	(iv)	Mortgaged Property Indemnification. With respect to each Mortgaged Property, such affidavits, certificates, instruments of indemnification and other items
(including a so-called “gap” indemnification) as shall be reasonably required to induce the title insurance company to issue the Mortgage Polices and endorsements contemplated above. 


 

	 	(v)	Collateral Fees and Expenses. Evidence of payment by the Company of all Mortgage Policy premiums, search and examination charges and issuance of the Mortgage
Policies referred to above. 

  

	 	(vi)	Amendments. If necessary (or advisable in connection with the creation of the security interest evidenced by Mortgages) amendments to the Mortgages duly
authorized, executed and acknowledged, in recordable form with respect to each Mortgaged Property sufficient for the owner of such Mortgaged Property to (x) grant to the Collateral Agent and/or confirm the Collateral Agent’s Mortgage lien
on and security interests in such Mortgaged Property, (y) confirm such owner’s right and indefeasible title thereto and (z) confirm the Mortgaged Property to be encumbered thereby. 









 ANNEX A 

MORTGAGED PROPERTY 
  

	 	•	 	 Bayport Choate Plant, 10801 Choate Road, Pasadena, Texas 77507 



 

	 	•	 	 Channelview Chemical Complex (South) 2502 Sheldon Road, Channelview, Texas 77530 



 

	 	•	 	 Bayport Underwood Plant, 5761 Underwood Drive, Pasadena, Texas 77507 



 

	 	•	 	 Equistar Chemicals (North) 8280 Sheldon Road, Channelview, Texas 77530 



 

	 	•	 	 3400 Anamosa Road, Clinton, Iowa 52732 


  

	 	•	 	 1501 McKinzie Road, Corpus Christi, Texas 78410 


  

	 	•	 	 1515 Miller Cut-Off Road, La Porte, Texas 77571 


  

	 	•	 	 US Highway 60, 13 miles south of Bay City, Bay City, Texas 77414 



 

	 	•	 	 8805 N. Tabler Road, Morris, Illinois 60450 


  

	 	•	 	 Old Bloomington Highway, Victoria, Texas 77902 – Leasehold Mortgage 



 

	 	•	 	 11530 Northlake Drive, Cincinnati, Ohio 45249 


  

	 	•	 	 12000 Lawndale, Houston, Texas 77017 


  

	 	•	 	 Bayport Plant, 12001 Bay Area Blvd., Pasadena, TX 77507 



 

	 	•	 	 Lake Charles Plant, 14101 Highway 108 South, Westlake, Louisiana 70669 



 

	 	•	 	 601 Crestwood, Jacksonville, Florida 32208 


  

	 	•	 	 2 miles West of FM 2917 on FM 2004, Alvin, Texas 77512 



 

	 	•	 	 625 East U.S. Highway 36, Tuscola, Douglas County, Illinois 61953 



 

	 	•	 	 1350 Miller Cut-Off Road, La Porte, Texas 77571 


  

	 	•	 	 Those certain pipeline easements located in Neuces County, TX 



 

	 	•	 	 Those certain pipeline easements located in San Patricio County, TX 



 

	 	•	 	 Those certain pipeline easements located in Refugio County, TX 



 

	 	•	 	 Those certain pipeline easements located in Calhoun County, TX 



 

	 	•	 	 Those certain pipeline easements located in Victoria County, TX 



 

	 	•	 	 Those certain pipeline easements located in Jackson County, TX 



 

	 	•	 	 Those certain pipeline easements located in Matagorda County, TX 



 

	 	•	 	 Those certain pipeline easements located in Brazoria County, TX 



 

	 	•	 	 Those certain pipeline easements located in Harris County, TX 



 

	 	•	 	 Those certain pipeline easements located in Galveston County, TX 



 

	 	•	 	 Those certain pipeline easements located in Chambers County, TX 



 

	 	•	 	 Those certain pipeline easements located in Calcasieu Parish, LA 



 

	 	•	 	 Those certain pipeline easements located in Orange County, TX 










 EXHIBIT A 

FORM OF NOTE 

[Face of Note] 

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

 

 A-1 









 CUSIP: [    ] 

GLOBAL NOTE 

representing up to 

$[            ] 

11% Senior Secured Note due 2018 
  

			
	No.       	  	[$            ]


LYONDELL CHEMICAL COMPANY, a Delaware corporation, promises to pay to Cede & Co., or registered assigns, the principal sum set
forth on the Schedule of Increases or Decreases in Global Note attached hereto on May 1, 2018. 
 Interest Payment Dates:
May 1 and November 1 
 Record Dates: April 15 and October 15 

Additional provisions of this Note are set forth on the other side of this Note. 

 

 A-2 









 IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. 

 

			
	LYONDELL CHEMICAL COMPANY
		
	By:	 	  

		 	Name:
		 	Title:


 Dated: [    ], 2010

  

 A-3 









 This is one of the Notes referred to in the within-mentioned Indenture: 

 

			
	Wells Fargo Bank, National Association, as Trustee
		
	By:	 	  

		 	Authorized Signatory


  

 A-4 









 [Back of Note] 

11% Senior Secured Note Due 2018 

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

 1. LYONDELL CHEMICAL COMPANY, a Delaware corporation, (the “Issuer,”) promises to pay interest on the
principal amount of this Note at 11% per annum from [    ], 2010 until maturity and shall pay the Additional Interest, if any, payable pursuant to the Registration Rights Agreement referred to below. The Issuer will pay
interest and Additional Interest semi-annually in arrears on May 1 and November 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on
the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Issue Date; provided that the first Interest Payment Date shall be November 1, 2010. The Issuer will pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the interest rate on the Notes; it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the interest rate on the Notes. Interest will be computed on
the basis of a 360-day year comprised of twelve 30-day months. 
 2. METHOD OF PAYMENT. The Issuer will pay interest on the
Notes, if any, and Additional Interest, if any (with respect to Restricted Transfer Notes, if applicable), to the Persons who are registered holders of Notes at the close of business on the April 15 and October 15 (whether or not a
Business Day), as the case may be, next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to
defaulted interest. Payment of interest and Additional Interest, if any, may be made by check mailed to the holders at their addresses set forth in the register of holders, provided that payment by wire transfer of immediately available funds
will be required with respect to principal of and interest, premium and Additional Interest, if any, on all Global Notes and all other Notes the holders of which shall have provided wire transfer instructions to the Issuer or the Paying Agent. Such
payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

3. TRUSTEE; PAYING AGENT AND REGISTRAR. Wells Fargo Bank, National Association will be the Trustee (the “Trustee”) under
the Indenture and will be the Collateral Agent under the Indenture and has been appointed by the Issuer as Registrar and Paying Agent with regard to the Notes (the “Paying Agent”). 

4. INDENTURE. The Issuer issued the Notes under an Indenture, dated as of [    ], 2010 (the
“Indenture”), among Lyondell Chemical Company, LyondellBasell Industries N.V. (the “Company”), the other Guarantors signatory thereto, and the Trustee. This Note is one of a duly authorized issue of notes of the
Issuer designated as its 11% Senior Secured Notes due 2018. The Issuer shall be entitled to issue Additional Notes pursuant to Section 2.01 of the Indenture. The terms of the Notes include those stated in the Indenture and those made part of
the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and holders are referred to the Indenture and the Trust Indenture Act for a statement of
such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

 

 A-5 









 5. OPTIONAL REDEMPTION. 

(a) On or after May 1, 2013, the Issuer may redeem all or a part of the Notes (including any Additional Notes) upon not less than 30
nor more than 60 days’ prior notice mailed by first-class mail to each holder’s registered address (with a copy to the Trustee), at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest thereon,
if any, to, but not including, the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

(b) In addition, prior to May 1, 2013, the Issuer may redeem the Notes (including any Additional Notes) at its option, in whole at
any time or in part from time to time, upon not less than 30 nor more than 60 days’ prior notice mailed by first-class mail to each holder’s registered address (with a copy to the Trustee), at a redemption price equal to 100% of the
principal amount thereof plus the Applicable Premium as of and accrued and unpaid interest and Additional Interest, if any, to, but not including, the applicable redemption date (subject to the right of holders of record on the relevant record date
to receive interest due on the relevant interest payment date). 
 (c) [Intentionally Omitted.] 

(d) Notwithstanding the foregoing, at any time prior to May 1, 2013, the Issuer may on any one or more occasions redeem up to 35% of
the original aggregate principal amount of the Notes (including any additional Notes), at a redemption price of 111.000% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to, but not including, the
applicable redemption date, with the net proceeds of one or more Equity Offerings; provided that: 
 (1)
at least 50% of the aggregate principal amount of the Notes originally issued under the Indenture (together with any additional Notes) remains outstanding immediately after the occurrence of such redemption (excluding Notes held by the Company and
its Subsidiaries); and 
 (2) the redemption must occur within 90 days of the date of the closing of such Equity
Offering. 
 6. [Intentionally Omitted] 

7. MANDATORY REDEMPTION. The Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to the
Notes. 
 8. NOTICE OF REDEMPTION. Notice of redemption will be mailed by first-class mail at least 30 days but not more than 60
days before the redemption date to each holder of Notes to be redeemed at his, her or its registered address (with a copy to the Trustee). In the case of any partial redemption, selection of the Notes for redemption will be made by the Trustee on a
pro rata basis to the extent practicable; provided that no Notes of $100,000, as applicable, principal amount or less shall be redeemed in part. The Trustee shall make the selection from outstanding Notes not previously called for
redemption. The Trustee may select for redemption portions of the principal of Notes that have denominations larger than $100,000. Notes and portions of them the Trustee selects shall be in amounts of $100,000 (and integral multiples of $1,000).

  

 A-6 









 If less than all the Notes are to be redeemed at any time in connection with an optional
redemption, the Trustee will select Notes for redemption as follows: 
 (1) if the Notes to be redeemed are
listed, in compliance with the requirements of the principal national securities exchange on which such Notes are listed; or 

(2) if the Notes to be redeemed are not so listed, on a pro rata basis, by lot or by such method as the Trustee
shall deem fair and appropriate. 
 If money sufficient to pay the redemption price of and accrued and unpaid interest on all
Notes (or portions thereof) to be redeemed on the redemption date is deposited with a Paying Agent on or before the redemption date and certain other conditions are satisfied on and after such date, interest ceases to accrue on such Notes (or such
portions thereof) called for redemption. 
 9. OFFERS TO REPURCHASE. 

(a) Upon the occurrence of a Change of Control, each holder shall have the right, subject to certain conditions specified in the
Indenture, to cause the Issuer to repurchase all or any part of such holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest and additional interest, if any, to the date
of repurchase (subject to the right of the holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), as provided in, and subject to the terms of, the Indenture. 

(b) In accordance with Section 4.06 of the Indenture, the Issuer will be required to offer to purchase Notes upon the occurrence of
certain events. 
 10. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in fully registered form only, without coupons, in
denominations of $100,000 and integral multiples of $1,000. A holder shall register the transfer or exchange of Notes in accordance with the Indenture. The Registrar may require a holder, among other things, to furnish appropriate endorsements and
transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the Indenture. The Registrar need not register the transfer or exchange of any Notes during a period beginning 15
days before the mailing of a redemption notice for any Notes or portions thereof selected for redemption. 
 11. PERSONS DEEMED
OWNERS. The registered holder of a Note may be treated as its owner for all purposes. 
 12. AMENDMENT, SUPPLEMENT AND WAIVER.
The Indenture, the Guarantees or the Notes may be amended or supplemented as provided in the Indenture. 
 13. DEFAULTS AND
REMEDIES. If an Event of Default occurs (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer) and is continuing, the Trustee or the holders of at least 30% in principal amount of the
outstanding Notes, in each case, by notice to the Issuer, may declare the principal of, premium, if any, and accrued but unpaid interest on all the Notes to be due and payable. If an Event of Default relating to certain events of bankruptcy,
insolvency or reorganization of the Issuer occurs, the principal of, premium, if any, and interest on all the Notes shall become immediately due and payable without any declaration or other act on the part of the Trustee or any holders. Under
certain circumstances, the holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. 

 

 A-7 









 If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to
exercise any of the rights or powers under the Indenture at the request or direction of any of the holders unless such holders have offered to the Trustee reasonable indemnity and security against any loss, liability or expense and certain other
conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no holder may pursue any remedy with respect to the Indenture or the Notes unless (i) such holder has previously
given the Trustee notice that an Event of Default is continuing, (ii) the holders of at least 30% in principal amount of the outstanding Notes have requested the Trustee in writing to pursue the remedy, (iii) such holders have offered the
Trustee reasonable security and indemnity against any loss, liability or expense, (iv) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security and indemnity and (v) the
holders of a majority in aggregate principal amount of the outstanding Notes have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to certain restrictions, the holders of a majority in principal
amount of the outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may
refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other holder or that would involve the Trustee in personal liability or expense. Prior to taking any
action under the Indenture, the Trustee shall be entitled to reasonable indemnification and security satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

14. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until
authenticated by the manual signature of the Trustee. 
 15. ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED TRANSFER NOTES. In
addition to the rights provided to holders of Notes under the Indenture, holders of Restricted Transfer Notes shall have all the rights set forth in the Registration Rights Agreement, including the right to receive Additional Interest (as defined in
the Registration Rights Agreement). 
 16. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE
THE INDENTURE, THE NOTES AND THE GUARANTEES, 
 17. CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
  


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 The Issuer will furnish to any holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to the Issuer at the following address: 

Lyondell Chemical Company 

1221 McKinney St 

Suite 700 

Houston, TX 77010 

Facsimile: (713) 652-7312 

Attention: Gerald A. O’Brien 
  


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 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

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

		  	(Insert assignee’s legal name)
	  

	(Insert assignee’s Soc. Sec. or tax I.D. no.)
	  

	  

	  

	  

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


			
	and irrevocably appoint	  	  

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


Date:                      

 

			
	Your Signature:	 	  

		 	(Sign exactly as your name appears on the face of this Note)


  

					
	Signature Guarantee*:	 	  
	 	

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 


 

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 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.06 or 4.08 of the Indenture, check the
appropriate box below: 
 [    ]
Section 4.06            [    ] Section 4.08 

If you want to elect to have only part of this Dollar Note purchased by the Issuer pursuant to Section 4.06 or Section 4.08 of
the Indenture, state the amount you elect to have purchased: 

$             

Date:                      

 

			
	Your Signature:	 	  

		 	(Sign exactly as your name appears on the face of this Note)



			
	Tax Identification No.:	 	  




 

					
	Signature Guarantee*:	 	  
	 	

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 


 

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 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The initial outstanding principal amount of this Global Note is
$            . The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global or Definitive
Note for an interest in this Global Note, have been made: 
  

									
	 Date of

Exchange
	 	 Amount of

decrease

in Principal

Amount
	 	 Amount of increase

in Principal

Amount of this

Global Note
	 	 Principal Amount

of
 this
Global Note
 following such

decrease or

increase
	 	 Signature of

authorized

signatory

of Trustee or

Note Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  

	*	This schedule should be included only if the Note is issued in global form. 

  


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 EXHIBIT B 

[FORM OF SUPPLEMENTAL INDENTURE RELATED TO SUBSIDIARY GUARANTORS] 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of
[            ], among [GUARANTOR] (the “New Guarantor”), a subsidiary of LYONDELLBASELL INDUSTRIES N.V., a public limited liability company formed under the laws of The
Netherlands (or its successor) (the “Company”), LYONDELL CHEMICAL COMPANY, a Delaware corporation, (the “Issuer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee under the
indenture referred to below (the “Trustee”). 
 W I T N E S S E T H : 

WHEREAS the Issuer and the Company and the other Guarantors signatory thereto have heretofore executed and delivered to the Trustee an
indenture (as amended, supplemented or otherwise modified, the “Indenture”) dated as of [    ], 2010 [, as supplemented,] providing for the issuance of the Issuer’s $3,250,000,000 aggregate principal amount
of 11% Senior Secured Notes due 2018 (the “Notes”); 
 WHEREAS Section 4.11 of the Indenture provides that
under certain circumstances the Issuer is required to cause the New Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally guarantee all the Issuer’s Obligations under
the Notes and the Indenture pursuant to a Guarantee on the terms and conditions set forth herein; and 
 WHEREAS pursuant to
Section 9.01 and subject to the provisions of Article IX of the Indenture, the Trustee, the Issuer, the Company and other existing Guarantors, if any, are authorized to execute and deliver this Supplemental Indenture; 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the New Guarantor, the Company, the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Notes as follows: 

1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or
recital hereto are used herein as therein defined, except that the term “holders” in this Supplemental Indenture shall refer to the term “holders” as defined in the Indenture and the Trustee acting on behalf of and
for the benefit of such holders. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and
not to any particular section hereof. 
 2. Agreement to Guarantee. The New Guarantor hereby agrees,
jointly and severally with all existing guarantors (if any), to unconditionally guarantee the Issuer’s Obligations under the Notes and the Indenture on the terms and subject to the conditions set forth in Article XII of the Indenture and to be
bound by all other applicable provisions of the Indenture and the Notes and to perform all of the obligations and agreements of a guarantor under the Indenture. 

3. Notices. All notices or other communications to the New Guarantor shall be given as provided in
Section 13.02 of the Indenture. 
  

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 4. Ratification of Indenture; Supplemental Indentures Part of
Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of
the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 

5. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 
 6. Trustee Makes No
Representation. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

7. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall
be an original, but all of them together represent the same agreement. 
 8. Effect of Headings. The
Section headings herein are for convenience only and shall not effect the construction thereof. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	[NEW GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

		
	By:	 	  

		 	Name:
		 	Title:


  

 C-3