Exhibit 4.1


 


 



 


 


 


 


INDENTURE


 


Dated as of ____________, 20__


 


Between


 


COMSovereign Holding Corp.


as Issuer


 


And


 


[__________________________],


as Trustee


 


 


 


___________________


 


 


Debt Securities


 


____________________


 


 


 


 


 


 



 




    


     


    





 





	 	TABLE OF CONTENTS
	 	 
	 	 	 	Page
	ARTICLE I	DEFINITIONS AND INCORPORATION BY REFERENCE	 	1
	 	SECTION 1.01. Definitions	 	1
	 	SECTION 1.02. Other Definitions	 	3
	 	SECTION 1.03 Incorporation by Reference of Trust Indenture Act	 	3
	 	SECTION 1.04 Rules of Construction	 	4
	ARTICLE II	THE SECURITIES	 	4
	 	SECTION 2.01 Unlimited in Amount, Issuable in Series, Form and Dating	 	4
	 	SECTION 2.02 Execution and Authentication	 	6
	 	SECTION 2.03 Registrar and Paying Agent	 	7
	 	SECTION 2.04 Paying Agent to Hold Assets in Trust	 	7
	 	SECTION 2.05 Holder Lists	 	8
	 	SECTION 2.06 Registration of Transfer and Exchange	 	8
	 	SECTION 2.07 Replacement Securities	 	8
	 	SECTION 2.08 Outstanding Securities	 	8
	 	SECTION 2.09 Treasury Securities	 	9
	 	SECTION 2.10 Temporary Securities	 	9
	 	SECTION 2.11 Cancellation	 	9
	 	SECTION 2.12 CUSIP Numbers	 	9
	 	SECTION 2.13 Defaulted Interest	 	9
	 	SECTION 2.14 Special Record Dates	 	9
	ARTICLE III 	REDEMPTION	 	10
	 	SECTION 3.01 Notices to Trustee	 	10
	 	SECTION 3.02 Selection of Securities to Be Redeemed	 	10
	 	SECTION 3.03 Notice of Redemption	 	10
	 	SECTION 3.04 Effect of Notice of Redemption	 	10
	 	SECTION 3.05 Deposit of Redemption Price	 	10
	 	SECTION 3.06 Securities Redeemed in Part	 	11
	ARTICLE IV 	COVENANTS	 	11
	 	SECTION 4.01 Payment of Securities	 	11
	 	SECTION 4.02 Maintenance of Office or Agency	 	11
	 	SECTION 4.03 SEC Reports	 	11
	 	SECTION 4.04 Compliance Certificate	 	11
	 	SECTION 4.05 Taxes	 	11
	 	SECTION 4.06 Corporate Existence	 	12
	ARTICLE V	MERGER, ETC.	 	12
	 	SECTION 5.01 When Company May Merge, etc.	 	12
	 	SECTION 5.02 Successor Corporation Substituted	 	12





 






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	ARTICLE VI 	DEFAULTS AND REMEDIES	 	13
	 	SECTION 6.01 Events of Default	 	13
	 	SECTION 6.02 Acceleration	 	13
	 	SECTION 6.03 Other Remedies	 	13
	 	SECTION 6.04 Wavier of Past Defaults	 	14
	 	SECTION 6.05 Control by Majority	 	14
	 	SECTION 6.06 Limitation on Suits	 	14
	 	SECTION 6.07 Rights of Holders to Receive Payment	 	14
	 	SECTION 6.08 Collection Suit by Trustee	 	14
	 	SECTION 6.09 Trustee May File Proofs of Claim	 	15
	 	SECTION 6.10 Priorities	 	15
	 	SECTION 6.11. Undertaking for Costs	 	15
	ARTICLE VII 	TRUSTEE	 	15
	 	SECTION 7.01. Duties of Trustee	 	15
	 	SECTION 7.03. Individual Rights of Trustee	 	17
	 	SECTION 7.04. Trustee’s Disclaimer	 	17
	 	SECTION 7.05. Notice of Defaults	 	17
	 	SECTION 7.06. Reports by Trustee to Holders	 	17
	 	SECTION 7.07. Compensation and Indemnity	 	17
	 	SECTION 7.08. Replacement of Trustee	 	18
	 	SECTION 7.09. Successor Trustee by Merger, Etc.	 	19
	 	SECTION 7.10. Eligibility; Disqualification	 	19
	 	SECTION 7.11. Preferential Collection of Claims Against the Company	 	19
	ARTICLE VIII 	DISCHARGE OF INDENTURE	 	19
	 	SECTION 8.01. Satisfaction and Discharge of Indenture	 	19
	 	SECTION 8.02. Application of Trust Funds; Indemnification	 	20
	 	SECTION 8.03. Legal Defeasance of Securities of any Series	 	20
	 	SECTION 8.04. Covenant Defeasance	 	21
	 	SECTION 8.05. Repayment to Company	 	22
	ARTICLE IX 	AMENDMENTS, SUPPLEMENTS AND WAIVERS	 	22
	 	SECTION 9.01. Without Consent of Holders	 	22
	 	SECTION 9.02. With Consent of Holders	 	22
	 	SECTION 9.03. Compliance with Trust Indenture Act	 	23
	 	SECTION 9.04. Revocation and Effect of Consents	 	23
	 	SECTION 9.05. Notation on or Exchange of Securities	 	23
	 	SECTION 9.06. Trustee to Sign Amendment, etc.	 	23
	ARTICLE X 	MISCELLANEOUS	 	24
	 	SECTION 10.01. Trust Indenture Act Controls	 	24
	 	SECTION 10.02. Notices	 	24
	 	SECTION 10.03. Communication by Holders with Other Holders	 	24
	 	SECTION 10.04. Certificate and Opinion as to Conditions Precedent	 	25
	 	SECTION 10.05. Statements Required in Certificate or Opinion	 	25
	 	SECTION 10.06. Rules by Trustee and Agents	 	25
	 	SECTION 10.07. Legal Holidays	 	25
	 	SECTION 10.08. Duplicate Originals	 	25
	 	SECTION 10.09. Governing Law	 	25
	 	SECTION 10.10. No Adverse Interpretation of Other Agreements	 	25
	 	SECTION 10.11. Successors	 	25
	 	SECTION 10.12. Severability	 	25
	 	SECTION 10.13. Counterpart Originals	 	25









 






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	 	CROSS-REFERENCE TABLE	 
	 		Indenture
	TIA Section		Section
	 	 	 
	Section 310 (a)(1) 	7.10
	 	(a)(2)	7.10
	 	(a)(3)	N.A.
	 	(a)(4)	N.A.
	 	(a)(5)	7.10
	 	(b)	7.08; 7.10
	 	(c)	N.A.
	Section 311 	(a)	7.11
	 	(b)	7.11
	 	(c)	N.A.
	Section 312	(a)	2.05
	 	(b)(1)	N.A.
	 	(b)(2)	7.06
	 	(c)	7.06; 12.02
	 	(d)	7.06
	Section 314 (a)(1), (2), (3) 	4.03
	 	(a)(4)	4.04
	 	(b)	N.A.
	 	(c)(1)	10.04
	 	(c)(2)	10.04
	 	(c)(3)	N.A.
	 	(d)	N.A.
	 	(e)	10.05
	 	(f)	N.A.
	Section 315 (a) 	7.01(b)
	 	(b)	7.05; 10.02
	 	(c)	7.01(a)
	 	(d)	7.01(c)
	 	(e)	6.11
	Section 316(a) (last sentence) 	2.09
	 	(a)(1)(A)	6.05
	 	(a)(1)(B)	6.04
	 	(a)(2)	N.A.
	 	(b)	6.07
	 	(c)	9.04
	Section 317	 (a)(1)	6.08
	 	(a)(2)	6.09
	 	(b)	2.04
	Section 318 (a) 	10.01


 


N.A. means Not Applicable


 


NOTE: This Cross-Reference Table shall not, for
any purpose, be deemed to be a part of the indenture.


 




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INDENTURE dated as of __________, 20___, between
COMSovereign Holding Corp., a Nevada corporation (the “Company”), as issuer, and [_______________], a [__________]
banking corporation, as Trustee (the “Trustee”).


 


The Company has duly authorized the execution and
delivery of this Indenture to provide for the issuance from time to time of its debentures, notes or other evidences of indebtedness to
be issued in one or more series (the “Securities”), as herein provided, up to such principal amount as may from time
to time be authorized in or pursuant to one or more resolutions of the Board of Directors or by supplemental indenture.


 


Each party agrees as follows for the benefit of
the other party and for the equal and ratable benefit of the Holders of each series of the Securities:


 


ARTICLE I


 


.A
DEFINITIONS AND INCORPORATION BY REFERENCE


 


SECTION 1.01. Definitions.


 


“Affiliate” means, when used with
reference to the Company or another person, any person directly or indirectly controlling, controlled by, or under direct or indirect
common control with, the Company or such other person, as the case may be. For the purposes of this definition, “control”
when used with respect to any specified person means the power to direct or cause the direction of management or policies of such person,
directly or indirectly, whether through the ownership of voting Securities, by contract or otherwise; and the terms “Controlling”
and “controlled” have meanings correlative of the foregoing.


 


“Agent” means any registrar, Paying
Agent, authenticating agent or co-registrar.


 


“Board of Directors” means, with
respect to any person, the Board of Directors of a person or any duly authorized committee of such Board of Directors.


 


“Board Resolution” means, with
respect to any person, a copy of a resolution certified by the secretary or an assistant secretary of such person to have been duly adopted
by the Board of Directors of such person or any duly authorized committee thereof and to be in full force and effect on the date of such
certification, and delivered to the Trustee.


 


“Business Day” means a day that
is not a Legal Holiday as defined in Section 10.07.


 


“Company” means the party named
as such in this Indenture, or any other obligor under this Indenture, until a successor replaces it pursuant to this Indenture and thereafter
means the successor.


 


“Consolidated” or “consolidated”
means, when used with reference to any amount, such amount determined on a consolidated basis in accordance with GAAP, after the elimination
of intercompany items.


 


“Consolidated Assets” means, at
a particular date, all amounts which would be included under total assets on a consolidated balance sheet of the Company and its Subsidiaries
as at such date, determined in accordance with GAAP.


 


“Corporate Trust Office” means
the office of the Trustee at which at any particular time its corporate services business shall be principally administered, which office
at the date of execution of this Indenture is located at [__________________].


 


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


 


“Event of Default” has the meaning
provided in Section 6.01.


 




    


     


    


 


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


 


“GAAP” means generally accepted
accounting principles 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 the accounting profession, which are applicable from time to time.


 


“Global Security” means a Security
issued to evidence all or a part of any series of Securities that is executed by the Company and authenticated and delivered by the Trustee
to a depositary or pursuant to such depositary’s instructions, all in accordance with this Indenture and pursuant to Section
2.01, which shall be registered as to principal and interest in the name of such depositary or its nominee.


 


“Holder” means the person in whose
name a Security is registered on the registrar’s books.


 


“Indebtedness” of a Person means
all obligations which would be treated as liabilities upon a balance sheet of such Person prepared on a consolidated basis in accordance
with GAAP.


 


“Indenture” means this Indenture,
as amended, supplemented or modified from time to time, and shall include the terms of a particular series of Securities established as
contemplated by Section 2.01.


 


“Lien” means any lien, security
interest, charge or encumbrance of any kind.


 


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


 


“Officer” of any person means
the Chairman of the Board, the Chief Executive Officer, the President, any Vice President, the Treasurer, the Secretary or the Controller
of such person.


 


“Officers’ Certificate”
means a certificate signed by two Officers or by an Officer and an Assistant Treasurer, Assistant Secretary or Assistant Controller of
any person.


 


“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.


 


“Original Issue Discount Security”
means any Security which provides that an amount less than its principal amount is due and payable upon acceleration after an Event of
Default.


 


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


 


“Redemption Date” means, with
respect to any Security to be redeemed, the date fixed for such redemption pursuant to this Indenture.


 


“Redemption Price” has the meaning
provided in Section 3.03.


 


“SEC” means the Securities and
Exchange Commission and any government agency succeeding to its functions.


 


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


 


“Securities Act” means the Securities
Act of 1933, as amended.


 


“Series”
means a series of Securities established pursuant to this Indenture.


 




    2


     


    


 


“Subsidiary” of any Person means
(i) a corporation a majority of whose capital stock with voting power, under ordinary circumstances, to elect directors is at the time,
directly or indirectly, owned by such Person or by such Person and a subsidiary or subsidiaries of such Person or by a subsidiary or subsidiaries
of such Person or (ii) any other Person (other than a corporation) in which such Person or such Person and a subsidiary or subsidiaries
of such Person or a subsidiary or subsidiaries of such Persons, at the time, directly or indirectly, own at least a majority voting interest
under ordinary circumstances.


 


“TIA” means the Trust Indenture
Act of 1939 (15 U.S. Code Section 77aaa-77bbbb), as in effect on the date of this Indenture; provided, however, that in
the event the TIA is amended after such date, “TIA” means, to the extent required by such amendment, the Trust Indenture
Act of 1939, as so amended.


 


“Trustee” means the party named
as such above until a successor becomes such pursuant to this Indenture and thereafter means or includes each party who is then a trustee
hereunder, and if at any time there is more than one such party, “Trustee” as used with respect to the Securities of
any series means the Trustee with respect to Securities of that series. If Trustees with respect to different series of Securities are
Trustees under this Indenture, nothing herein shall constitute the Trustees co-Trustees of the same trust, and each Trustee shall be the
Trustee of a trust separate and apart from any trust administered by any other Trustee with respect to a different series of Securities.


 


“Trust Officer” means any officer
in the corporate trust department of the Trustee or any other officer of the Trustee assigned by the Trustee to administer this Indenture.


 


“U.S. Government Obligations”
means (i) direct obligations of the United States of America for the payment of which the full faith and credit of the United States of
America is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United
States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America
and which in either case, are non-callable at the option of the issuer thereof.


 


SECTION 1.02. Other Definitions.


 











	 	 	 	 
	Term	 	Defined in Section	 
	 	 	 	 
	“Bankruptcy Law”	 	 	6.01	 
	“Custodian”	 	 	6.01	 
	“Legal Holiday” 	 	 	10.07	 
	“Paying Agent”	 	 	2.03	 
	“Registrar”	 	 	2.03	 


 


SECTION 1.03. Incorporation by Reference of
Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and
made a part of this Indenture.


 


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


 


“indenture Securities” means the
Securities;


 


“indenture Security holder” means
a Holder;


 


“indenture to be qualified” means
this Indenture;


 


“indenture Trustee” or “institutional
Trustee” means the Trustee; and


 


“obligor” on the Securities means
the Company and any other obligor on the indenture Securities.


 




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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: (i) a term has the meaning assigned to it; (ii) an accounting term not otherwise defined has the
meaning assigned to it in accordance with GAAP; (iii) “or” is not exclusive; (iv) words in the singular include the plural,
and in the plural include the singular; (v) provisions apply to successive events and transactions; and (vi) statements relating to the
payment of principal and interest shall include the payment, premium (if any) and interest.


 


 


ARTICLE II


 


THE SECURITIES


 


SECTION 2.01. Unlimited in Amount, Issuable
in Series, Form and Dating.


 


The aggregate principal amount of Securities which
may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series. There shall
be established pursuant to a Board Resolution or an Officers’ Certificate pursuant to authority granted under a Board Resolution
or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series:


 


(a)  The
title, ranking and authorized denominations of such Securities;


 


(b) The aggregate principal amount of such Securities
and any limit on such aggregate principal amount;


 


(c)  The
price (expressed as a percentage of the principal amount thereof) at which such Securities will be issued and, if other than the principal
amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity thereof;


 


(d)  The
date or dates, or the method for determining such date or dates, on which the principal of such Securities will be payable;


 


(e)  The
rate or rates (which may be fixed or variable), or the method by which such rate or rates shall be determined, at which such Securities
will bear interest, if any;


 


(f)  The
date or dates, or the method for determining such date or dates, from which any such interest will accrue, the dates on which any such
interest will be payable, the record dates for such interest payment dates, or the method by which such dates shall be determined, the
persons to whom such interest shall be payable, and the basis upon which interest shall be calculated if other than that of a 360-day
year of twelve 30-day months;


 


(g)  The
place or places where the principal of and interest, if any, on such Securities will be payable, where such Securities may be surrendered
for registration of transfer or exchange and where notices or demands to or upon the Company in respect of such Securities and this Indenture
may be served;


 


(h)  The
period or periods, if any, within which, the price or prices at which and the other terms and conditions upon which such Securities may,
pursuant to any optional or mandatory redemption provisions, be redeemed, as a whole or in part, at the option of the Company;


 


(i)  The
obligation, if any, of the Company to redeem, repay or purchase such Securities pursuant to any sinking fund or analogous provision or
at the option of a holder thereof, and the period or periods within which, the price or prices at which and the other terms and
conditions upon which such Securities will be redeemed, repaid or purchased, as a whole or in part, pursuant to such obligation;


 




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(j)  If other
than U.S. dollars, the currency or currencies in which such Securities are denominated and payable, which may be a foreign currency or
units of two or more foreign currencies or a composite currency or currencies, and the terms and conditions relating thereto;


 


(k)  Whether
the amount of payments of principal of (and premium, if any) or interest, if any, on such Securities may be determined with reference
to an index, formula or other method (which index, formula or method may, but need not be, based on the yield on or trading price of other
Securities, including United States Treasury Securities, or on a currency, currencies, currency unit or units, or composite currency or
currencies) and the manner in which such amounts shall be determined;


 


(l)  Whether
the principal of or interest on the Securities of the series is to be payable, at the election of the Company or a holder thereof, in
a currency or currencies, currency unit or units or composite currency or currencies other than that in which such Securities are denominated
or stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be made, and the
time and manner of, and identity of the exchange rate agent with responsibility for, determining the exchange rate between the currency
or currencies, currency unit or units or composite currency or currencies in which such Securities are denominated or stated to be payable
and the currency or currencies, currency unit or units or composite currency or currencies in which such Securities are to be so payable;


 


(m)  Provisions,
if any, granting special rights to the holders of Securities of the series upon the occurrence of such events as may be specified;


 


(n)  Any
deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to Securities of the series,
whether or not such Events of Default or covenants are consistent with the Events of Default or covenants described herein;


 


(o)  Whether
and under what circumstances the Company will pay any additional amounts on such Securities in respect of any tax, assessment or governmental
charge and, if so, whether the Company will have the option to redeem such Securities in lieu of making such payment;


 


(p)  Whether
Securities of the series are to be issuable as registered Securities, bearer Securities (with or without coupons) or both, any restrictions
applicable to the offer, sale or delivery of bearer Securities and the terms upon which bearer Securities of the series may be exchanged
for registered Securities of the series and vice versa (if permitted by applicable laws and regulations), whether any Securities of the
series are to be issuable initially in temporary global form and whether any Securities of the series are to be issuable in permanent
global form with or without coupons and, if so, whether beneficial owners of interests in any such permanent Global Security may exchange
such interests for Securities of such series and of like tenor or any authorized form and denomination and the circumstances under which
any such exchanges may occur, if other than in the manner provided in this Indenture, and, if registered Securities of the series are
to be issuable as a Global Security, the identity of the depositary for such series;


 


(q)  The
date as of which any bearer Securities of the series and any temporary Global Security representing outstanding Securities of the series
shall be dated if other than the date of original issuance of the first Security of the series to be issued;


 


(r)  The
person to whom any interest on any registered Security of the series shall be payable, if other than the person in whose name that Security
(or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest, the manner
in which, or the person to whom, any interest on any bearer Security of the series shall be payable, if otherwise than upon presentation
and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest
payable on a temporary Global Security on an interest payment date will be paid if other than in the manner provided in this Indenture;


 




    5


     


    


 


(s)  Whether
such Securities will be issued in certificated or book entry form;


 


(t)  The
applicability, if any, of the legal defeasance and covenant defeasance provisions of this Indenture to the Securities of the series;


 


(u)  If the
Securities of such series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security
of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and/or
terms of such certificates, documents or conditions;


 


(v)  Whether
the Securities will be listed for trading on an exchange and the identity of such exchange;


 


(w)  Whether
any underwriters will act as market makers for the Securities;


 


(x)  Any
guarantees of such Securities by the Company’s Subsidiaries or others;


 


(y)  The
date or dates, if any, after which the Securities may be converted or exchanged into or for shares of the Company’s common stock
or another company’s securities or properties or cash and the terms for any such conversion or exchange;


 


(z)  Any
other terms of the series.


 


The Securities of any series shall be substantially
of the tenor and purport as set forth in one or more indentures supplemental hereto or as provided in a written order of the Company,
in each case with such insertions, omission, substitutions and other variations as are required or permitted by this Indenture, and may
have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to
comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which
Securities of that series may be listed or of the depository, or to conform to usage.


 


The Trustee’s Certificate of Authentication
shall be in substantially the following form:


 


“This is one of the Securities
of the series designated in accordance with, and referred to in the within-mentioned Indenture.


 





	 	Dated:	 
	 	 	 
	 	[____________________], as Trustee	 
	 	 	 
	 	By:	                             	 
	 	 	Authorized Signatory”	 


 


SECTION 2.02. Execution and Authentication.
Two Officers shall sign the Securities for the Company by manual or facsimile signature.


 


If an Officer whose signature is on a Security no
longer holds that office at the time the Security is authenticated, the Security shall be valid nevertheless.


 


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


 




    6


     


    


 


The Trustee shall authenticate Securities for original
issue upon a written order of the Company signed by one Officer of the Company.


 


The Trustee may appoint an authenticating agent reasonably
acceptable to the Company to authenticate Securities. Unless limited by the terms of such appointment, an authenticating agent may authenticate
Securities 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 the Company or an Affiliate of the Company.


 


If the Company shall establish pursuant to Section
2.01 that the Securities of a series are to be issued in the form of one or more Global Securities, then the Company shall execute
and the Trustee shall authenticate and deliver one or more Global Securities that (i) shall represent and shall be denominated in an amount
equal to the aggregate principal amount of all of the Securities of such series to be issued in the form of Global Securities and not
yet canceled, (ii) shall be registered in the name of the depositary for such Global Security or Securities or the nominee of such depositary,
(iii) shall be delivered by the Trustee to such depositary or pursuant to such depositary’s instructions, and (iv) shall bear a
legend substantially to the following effect: “Unless and until it is exchanged in whole or in part for Securities in definitive
registered form, this Security may not be transferred except as a whole by the depositary to the nominee of the depositary or by a nominee
of the depositary to the depositary or another nominee of the depositary or by the depositary or any such nominee to a successor depositary
or a nominee of such successor depositary.”


 


Each depositary designated pursuant to Section
2.01 must, at the time of its designation and at all times while it services as depositary, be a clearing agency registered under
the Exchange Act.


 


SECTION 2.03. Registrar and Paying Agent.
The Company shall maintain an office or agency where Securities of a particular series may be presented for registration of transfer or
for exchange (the “Registrar”) and an office or agency where Securities may be presented for payment (the “Paying
Agent”). The registrar for a particular series of Securities shall keep a register of the Securities of that series and of their
transfer and exchange. The Company may appoint one or more co-registrars and one or more additional Paying Agents for each series of Securities.
The term “Paying Agent” includes any additional paying agent and the term “Registrar” includes any additional
registrar. The Company may change any Paying Agent or registrar without prior notice to any Holder.


 


The Company shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture, which shall incorporate the terms of the TIA and implement the terms of this Indenture
which relate to such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent who is not
a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall
act as such. The Company or any Affiliate of the Company may act as Paying Agent or Registrar.


 


The Company hereby initially appoints the Trustee
as Registrar and Paying Agent for each series of Securities unless another Registrar or Paying Agent, as the case may be, is appointed
prior to the time the Securities of that series are first issued.


 


SECTION 2.04. Paying Agent to Hold Assets in
Trust. The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold
in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the payment of principal of and interest on
the Securities (whether such money has been paid to it by the Company or any other obligor on the Securities) and shall notify the Trustee
of any failure by the Company (or any other obligor on the Securities) in making any such payment. While any such failure continues, the
Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other
than the Company or a Subsidiary of the Company) shall have no further liability for the money so paid over to the Trustee. If the Company
or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders
all money held by it as Paying Agent.


 




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SECTION 2.05. Holder Lists. The Trustee
shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders,
separately by series, and shall otherwise comply with TIA Section 312(a). If the Trustee is not the registrar, the Company shall furnish
to the Trustee on or before each interest payment date for the Securities 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, separately by series,
relating to such interest payment date or request, as the case may be.


 


SECTION 2.06. Registration of Transfer and
Exchange. When Securities of a series are presented to the registrar or a co-registrar with a request to register their transfer
or to exchange them for an equal principal amount of Securities of other denominations, the registrar or co-registrar shall register the
transfer or make the exchange if its requirements for such transaction are met. To permit registrations of transfer and exchanges, the
Company shall issue and the Trustee shall authenticate Securities at the registrar’s or co-registrar’s request. No service
charge shall be made for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection with registration, transfer or exchange of Securities other than exchanges
pursuant to Section 2.10, 3.06 or 9.05 not involving any transfer.


 


The registrar or co-registrar shall not be required
to register the transfer or exchange of (i) any Security of a particular series selected for redemption in whole or in part, except the
unredeemed portion of any Security of that series being redeemed in part, or (ii) any Security of a particular series during a period
beginning at the opening of business 15 days before the day of any selection of Securities of that series for redemption under Section
3.02 and ending at the close of business on the date of selection.


 


Any Holder of a beneficial interest in a Global Security
shall, by acceptance of such beneficial interest, agree that transfers of beneficial interest in such Global Security may be effected
only through a book entry system maintained by the holder of such Global Security (or its agent), and that ownership of a beneficial interest
in the Security shall be required to be reflected in a book entry system.


 


SECTION 2.07. Replacement Securities.
If a mutilated Security is surrendered to the Trustee or if the Holder of a Security claims that the Security has been lost, destroyed
or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Security of the same series if the requirements
of the Trustee and the Company are met; provided that, if any such Security has been called for redemption in accordance with the
terms thereof, the Trustee may pay the Redemption Price thereof on the Redemption Date without authenticating or replacing such Security.
The Trustee or the Company may, in either case, require the Holder to provide an indemnity bond sufficient in the judgment of each of
the Trustee and the Company to protect the Company, the Trustee or any Agent from any loss which any of them may suffer if a Security
is replaced or if the Redemption Price therefor is paid pursuant to this Section. The Company may charge the Holder who has lost a Security
for its expenses in replacing a Security.


 


Every replacement Security is an obligation of the
Company and shall be entitled to the benefits of this Indenture equally and proportionately with any and all other Securities of the same
series.


 


SECTION 2.08. Outstanding Securities.
The Securities of any series outstanding at any time are all the Securities of that series authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding.


 


If a Security is replaced pursuant to Section
2.07, it ceases to be outstanding and interest ceases to accrue unless the Trustee receives proof satisfactory to it that the replaced
Security is held by a bona fide purchaser.


 


If all principal of and interest on any of the
Securities are considered paid under Section 4.01, such Securities shall cease to be outstanding and interest on them shall
cease to accrue.


 


Except as provided in Section 2.09, a Security
does not cease to be outstanding because the Company or an Affiliate of the Company holds such Security.


 


For each series of Original Issue Discount Securities,
the principal amount of such Securities that shall be deemed to be outstanding and used to determine whether the necessary Holders have
given any request, demand, authorization, direction, notice, consent or waiver, shall be the principal amount of such Securities that
could be declared to be due and payable upon acceleration upon an Event of Default as of the date of such determination. When requested
by the Trustee, the Company will advise the Trustee of such amount, showing its computations in reasonable detail.



 




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SECTION 2.09. Treasury Securities.
In determining whether the Holders of the required principal amount of Securities of any series have concurred in any direction, waiver
or consent, Securities owned by the Company or an Affiliate of the Company shall be considered as though they are not outstanding, except
that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only
Securities which such Trustee actually knows are so owned shall be so disregarded.


 


SECTION 2.10. Temporary Securities.
Until definitive Securities are ready for delivery, the Company may prepare and execute and the Trustee shall authenticate temporary Securities.
Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate
for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Securities
in exchange for temporary Securities. Holders of temporary Securities shall be entitled to all of the benefits of this Indenture.


 


SECTION 2.11. Cancellation.  The
Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee
any Securities surrendered to them for registration of transfer, exchange, payment or repurchase. The Trustee shall cancel all Securities
surrendered for registration of transfer, exchange, payment, repurchase, redemption, replacement or cancellation and shall destroy such
Securities (subject to the record retention requirements of the Exchange Act). Certification of the destruction of all cancelled Securities
shall be promptly delivered to the Company. The Company may not issue new Securities to replace Securities that it has paid or that have
been delivered to the Trustee for cancellation.


 


SECTION 2.12. CUSIP Numbers. The Company
in issuing the Securities may use “CUSIP” numbers (if then generally in use), and the Trustee shall use CUSIP numbers in notices
of redemption or exchange as a convenience to Holders; provided that any such notice shall state that no representation is made
as to the correctness of such numbers either as printed on the Securities or as contained in any such notice and that reliance may be
placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect
in or omission of such numbers. The Company shall promptly notify the Trustee of any change in the CUSIP numbers.


 


SECTION 2.13. Defaulted Interest. 
If the Company fails to make a payment of interest on any series of Securities, it shall pay such defaulted interest plus (to the extent
lawful) any interest payable on the defaulted interest, in any lawful manner. It may elect to pay such defaulted interest, plus any such
interest payable on it, to the Persons who are Holders of such Securities on which the interest is due on a subsequent special record
date. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each such Security. The
Company shall fix any such record date and payment date for such payment. At least 15 days before any such record date, the Company shall
mail to Holders affected thereby a notice that states the record date, payment date, and amount of such interest to be paid.


 


SECTION 2.14. Special Record Dates.
The Company may, but shall not be obligated to, set a record date for the purpose of determining the identity of Holders entitled to consent
to any supplement, amendment or waiver permitted by this Indenture. If a record date is fixed, the Holders of Securities of that series
outstanding on such record date, and no other Holders, shall be entitled to consent to such supplement, amendment or waiver or revoke
any consent previously given, whether or not such Holders remain Holders after such record date. No consent shall be valid or effective
for more than 90 days after such record date unless consents from Holders of
the principal amount of Securities of that series required hereunder for such amendment or waiver to be effective shall have also been
given and not revoked within such 90-day period.


 




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ARTICLE III


 


REDEMPTION


 


SECTION 3.01. Notices to Trustee. If
the Company elects to redeem Securities of any series pursuant to any optional redemption provisions thereof, it shall notify the Trustee
of the intended Redemption Date and the principal amount of Securities of that series to be redeemed.


 


The Company shall give each notice provided for in
this Section and an Officers’ Certificate at least 45 days before the Redemption Date (unless a shorter period shall be satisfactory
to the Trustee).


 


SECTION 3.02. Selection of Securities to Be
Redeemed. If fewer than all the Securities of any series are to be redeemed, the Trustee shall select the Securities of that series
to be redeemed from the outstanding Securities of that series to be redeemed by a method that complies with the requirements of any exchange
on which the Securities of that series are listed, or, if the Securities of that series are not listed on an exchange, on a pro rata basis
or by lot, which in any case shall be in accordance with a method the Trustee considers fair and appropriate.


 


Except as otherwise provided as to any particular
series of Securities, Securities and portions thereof that the Trustee selects shall be in amounts equal to the minimum authorized denomination
for Securities of the series to be redeemed or any integral multiple thereof. Provisions of this Indenture that apply to Securities called
for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly in writing of
the Securities or portions of Securities to be called for redemption.


 


SECTION 3.03. Notice of Redemption.
At least 30 days but not more than 60 days before the Redemption Date, the Company shall mail a notice of redemption by first-class mail
to each Holder whose Securities are to be redeemed at the address of such Holder appearing in the register.


 


The notice shall identify the Securities of the series
to be redeemed and shall state:


 


(1)  the
Redemption Date;


 


(2)  the
redemption price fixed in accordance with the terms of the Securities of the series to be redeemed, plus accrued interest, if any, to
the date fixed for redemption (the “Redemption Price”);


 


(3)  if
any Security is being redeemed in part, the portion of the principal amount of such Security to be redeemed and that, after the Redemption
Date, upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion will be issued;


 


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


 


(5)  that
Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price;


 


(6)  that,
unless the Company defaults in payment of the Redemption Price, interest on Securities called for redemption ceases to accrue on and after
the Redemption Date; and


 


(7)  the
CUSIP number, if any, of the Securities to be redeemed.


 


At the Company’s written request, the Trustee
shall give the notice of redemption in the Company’s name and at its expense. The notice mailed in the manner herein provided shall
be conclusively presumed to have been duly given whether or not the Holder receives such notice. In any case, failure to give such notice
by mail or any defect in the notice to the Holder of any Security shall not affect the validity of the proceeding for the redemption of
any other Security.


 


SECTION 3.04. Effect of Notice of Redemption.
Once notice of redemption is mailed, Securities called for redemption become due and payable on the Redemption Date at the Redemption
Price. Upon surrender to the Paying Agent, such Securities shall be paid at the Redemption Price.


 


SECTION 3.05. Deposit of Redemption Price.
On or before the Redemption Date, the Company shall deposit with the Trustee or with the Paying Agent (or if the Company or any Subsidiary
of the Company is acting as its own Paying Agent, the Company or such Subsidiary shall segregate and hold in trust) money sufficient to
pay the Redemption Price on all Securities to be redeemed on that date other than Securities or portions thereof called for redemption
on that date which have been delivered by the Company to the Trustee for cancellation. The Paying Agent shall promptly return to the Company
any money not required for that purpose.



 




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SECTION 3.06. Securities Redeemed in Part.
Upon surrender of a Security that is redeemed in part, the Company shall issue and the Trustee shall authenticate for the Holder at the
expense of the Company, a new Security of the same series equal in principal amount to the unredeemed portion of the Security surrendered.


 


 


ARTICLE IV


 


COVENANTS


 


SECTION 4.01. Payment of Securities.
The Company shall pay or cause to be paid the principal of and interest on the Securities on the dates and in the manner provided in this
Indenture and the Securities. Principal and interest shall be considered paid on the date due if the Paying Agent, if other than the Company
or an Affiliate, holds as of 11:00 a.m., New York time, on that date immediately available funds designated for and sufficient to pay
all principal and interest then due. To the extent lawful, the Company shall pay interest on overdue principal and overdue installments
of interest at the rate per annum borne by the applicable series of Securities.


 


SECTION 4.02. Maintenance of Office or Agency.
 The Company shall maintain in the Borough of Manhattan, the City of New York, or in [_______________], an office or agency (which
may be an office of the Trustee or an affiliate of the Trustee or registrar) where Securities may be surrendered for registration of transfer
or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company
shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time
the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.


 


The Company may also from time to time designate
one or more other offices or agencies where the Securities 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 Company of its obligation to maintain an office or agency in the Borough of [___________], the City of [___________], or [___________],
for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change
in the location of any such other office or agency.


 


The Company hereby designates the Corporate Trust
Office of the Trustee as one such office or agency of the Company in accordance with Section 2.03.


 


SECTION 4.03. SEC Reports. The Company
shall deliver to the Trustee within 15 days after it files them with the SEC copies of the annual reports and of the information, documents,
and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company
is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act; provided, however, the Company shall not be required
to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the SEC. The Company also
shall comply with the other provisions of TIA Section 314 (a).


 


SECTION 4.04. Compliance Certificate.
The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate
stating that in the course of the performance by the signers of their duties as officers of the Company, they would normally have knowledge
of any failure by the Company to comply with all conditions, or default by the Company with respect to any covenants, under this Indenture,
and further stating whether or not they have knowledge of any such failure or default and, if so, specifying each such failure or default
and the nature thereof. For purposes of this Section, such compliance shall be determined without regard to any period of grace or requirement
of notice provided for in this Indenture. The certificate need not comply with Section 10.04.






 




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SECTION 4.05. Taxes.  The Company shall
pay prior to delinquency, all material taxes, assessments, and governmental levies except as contested in good faith by appropriate proceedings.


 


SECTION 4.06. Corporate Existence.
Subject to Article V hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and
effect (i) its corporate existence and (ii) the material rights (charter and statutory), licenses and franchises of the Company and its
Subsidiaries taken as a whole; provided, however, that the Company shall not be required to preserve any such right, license
or franchise if the Board of Directors or management of the Company shall determine that the preservation thereof is no longer in the
best interests of the Company, and that the loss thereof is not adverse in any material respect to the Holders.


 


ARTICLE V


 


MERGER, ETC.


 


SECTION 5.01. When Company May Merge, etc.
(a) The Company shall not consolidate or merge with or into, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially
all of its assets to, any Person unless: (i) the Person formed by or surviving any such consolidation or merger (if other than the Company),
or to which such sale, assignment, transfer, lease, conveyance or disposition has been made, is a corporation organized and existing under
the laws of the United States of America, any state thereof or the District of Columbia; (ii) the Person formed by or surviving any such
consolidation or merger (if other than the Company), or to which such sale, assignment, transfer, lease, conveyance or disposition has
been made, assumes by supplemental indenture satisfactory in form to the Trustee all the obligations of the Company under the Securities
and this Indenture; and (iii) immediately after such transaction, and giving effect thereto, no Default or Event of Default shall have
occurred and be continuing. Notwithstanding the foregoing, the Company may merge with another Person or acquire by purchase or otherwise
all or any part of the property or assets of any other corporation or Person in a transaction in which the surviving entity is the Company.


 


(b)  In connection
with any consolidation, merger, sale, assignment, transfer or lease contemplated by this Section 5.01, the Company shall deliver, or cause
to be delivered, to the Trustee, in form and substance reasonably satisfactory to the Trustee, an Officers’ Certificate and an Opinion
of Counsel, each stating that such consolidation, merger, sale, assignment, transfer or lease and the supplemental indenture in respect
thereof comply with Article V and the TIA and that all conditions precedent herein provided for relating to such transaction have
been complied with.


 


SECTION 5.02. Successor Corporation Substituted.
Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all
the assets of the Company in accordance with Section 5.01, the successor corporation formed by such consolidation or into which
the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and
be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor
corporation had been named as the Company herein. In the event of any such sale or conveyance, but not any such lease, the Company or
any successor corporation which thereafter shall have become such in the manner described in this Article V shall be discharged
from all obligations and covenants under this Indenture and the Securities and may be dissolved, wound up or liquidated.


 




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ARTICLE VI


 


DEFAULTS AND REMEDIES


 


SECTION 6.01. Events of Default. An
“Event of Default” occurs with respect to Securities of any particular series, unless in the establishing Board Resolutions,
Officers’ Certificate or supplemental indenture hereto, it is provided that such series shall not have the benefit of any such Event
of Default, when any of the following occurs:


 


(i)  the
Company defaults in the payment of interest on any Security of that series when it becomes due and payable and such default continues
for a period of 30 days;


 


(ii)  the
Company defaults in the payment of the principal of any Security of that series when the same becomes due and payable at maturity, upon
acceleration, redemption or otherwise;


 


(iii)  the
Company fails to comply with any of its other agreements or covenants in, or provisions of, the Securities of that series or this Indenture
and the Default continues for the period and after the notice specified below;


 


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


 


(v) a court of competent jurisdiction enters an order or decree under
any Bankruptcy Law that: (A) is for relief against the Company in an involuntary case or proceeding, (B) appoints a Custodian for the
Company or for all or substantially all of the Company’s property, or (C) orders the liquidation of the Company;





 


and in case of (v) the order or decree remains unstayed and in effect
for 60 days.


 


The term “Bankruptcy Law” means
Title 11 of the U.S. Code or any similar Federal or state law for the relief of debtors. The term “Custodian” means
any receiver, Trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law.


 


A Default under clause (iii) of this Section 6.01
is not an Event of Default with respect to a particular series of Securities until the Trustee notifies the Company in writing, or the
Holders of at least 25% in principal amount of the outstanding Securities of that series notify the Company and the Trustee, in writing,
of the Default, and the Company does not cure the Default within 30 days after receipt of the notice. The notice must specify the Default,
demand that it be remedied and state that the notice is a “Notice of Default”.


 


SECTION 6.02. Acceleration. If an Event
of Default (other than an Event of Default specified in clause (iv) or (v) of Section 6.01) occurs and is continuing, the Trustee or the
Holders of at least 25% of the principal amount of the outstanding Securities of that series, by written notice to the Company may declare
due and payable 100% of the principal amount (or, in the case of Original Issue Discount Securities, such lesser amount as may be provided
for in such Securities) of the Securities of that series plus any accrued interest to the date of payment. Upon a declaration of acceleration,
such principal (or such lesser amount) and accrued interest to the date of payment shall be due and payable. If an Event of Default specified
in clause (iv) or (v) of Section 6.01 occurs, all unpaid principal and accrued interest on the Securities shall become and be immediately
due and payable without any declaration or other act on the part of the Trustee or any Holder.


 


The Holders of a majority of the outstanding principal
amount of the Securities of that series by written notice to the Trustee may rescind an acceleration and its consequences if (i) all existing
Events of Default other than the nonpayment of principal (or such lesser amount) of or interest on the Securities of that series which
have become due solely because of the acceleration, have been cured or waived and (ii) the rescission would not conflict with any judgment
or decree of a court of competent jurisdiction.


 


SECTION 6.03. Other Remedies. If an
Event of Default occurs and is continuing with respect to any series of Securities, the Trustee may pursue any available remedy by proceeding
at law or in equity to collect the payment of principal of or interest on the Securities of that series or to enforce the performance
of any provision of the Securities of that series or this Indenture.


 


The Trustee may maintain a proceeding even if it
does not possess any of the Securities 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 the 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. All remedies are cumulative to the extent permitted
by law.



 




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SECTION 6.04. Waiver of Past Defaults.
Subject to Sections 6.07 and 9.02, the Holders of at least a majority in principal amount of the outstanding Securities
of any series by notice to the Trustee may waive an existing Default or Event of Default and its consequences with respect to that series,
except a Default in the nonpayment of the principal of or interest on any Security of that series (provided, however, that
the Holders of a majority in principal amount of the then outstanding Securities of any series may rescind an acceleration and its consequences,
including any related payment default that resulted from such acceleration) . When a Default or Event of Default is waived, it is cured
and ceases.


 


SECTION 6.05. Control by Majority.
The Holders of at least a majority in principal amount of the outstanding Securities of any series may direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee
may refuse to follow any direction that conflicts with law or this Indenture, that the Trustee determines may be unduly prejudicial to
the rights of other Holders or that may involve the Trustee in personal liability. The Trustee may take any other action which it deems
proper which is not inconsistent with any such direction.


 


SECTION 6.06. Limitation on Suits.
A Holder of Securities of any series may not pursue a remedy with respect to this Indenture or the Securities of that series unless: (i)
the Holder gives to the Trustee written notice of a continuing Event of Default with respect to such series; (ii) the Holders of at least
25% in principal amount of the outstanding Securities of that series make a written request to the Trustee to pursue the remedy; (iii)
such Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee against any loss, liability, cost or expense; (iv) the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and (v) during such 60-day
period the Holders of at least a majority in principal amount of the outstanding Securities of that series do not give the Trustee a direction
inconsistent with the request.


 


A Holder may not use this Indenture to prejudice
the rights of another Holder or to obtain a preference or priority over another Holder.


 


SECTION 6.07. Rights of Holders To Receive
Payment. Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of principal
of or interest, if any, on the Security on or after the respective due dates expressed or provided for in the Security, 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 the
Holder.


 


SECTION 6.08. Collection Suit by Trustee.
If an Event of Default specified in Section 6.01(i) or (ii) occurs and is continuing with respect to Securities of any series,
the Trustee may recover judgment in its own name and as Trustee of an express trust against the Company for the whole amount of principal
(or such portion of the principal as may be specified as due upon acceleration at that time in the terms of that series of Securities)
and accrued interest, if any, remaining unpaid on the outstanding Securities of that series, together with (to the extent lawful) interest
on overdue principal and interest, and such further amount as shall be sufficient to cover the costs and, to the extent lawful, expenses
of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and
any other amounts due the Trustee under Section 7.07.


 


SECTION 6.09. Trustee May File Proofs of Claim.
The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee and the Holders allowed in any judicial proceeding relative to the Company (or any other obligor upon the Securities), its
creditors or its property and shall be entitled and empowered to participate as a member, voting or otherwise, of any official committee
of creditors appointed in such matter and to collect and receive any moneys or other property payable or deliverable on any such claims
and to distribute the same, and any custodian in any such judicial proceedings is hereby authorized by each Holder to make such payments
to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel,
and any other amounts due the Trustee under Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder
in any such proceeding.


 






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SECTION 6.10. Priorities. If the Trustee
collects any money pursuant to this Article VI, it shall pay out the money in the following order:


 


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


 


SECOND:
to Holders of any particular series of Securities for amounts due and unpaid on the Securities of such series for principal and interest,
if any, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities of such series
for principal and interest, respectively; and


 


THIRD:to the Company or any other
obligors on the Securities of that series, as their interests may appear, or as a court of competent jurisdiction may direct.


 


The Trustee, upon prior written notice to the Company,
may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. The Trustee shall notify the Company
in writing reasonably in advance of any such record date and payment date.


 


SECTION 6.11. Undertaking for Costs.
In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in 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 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit
by Holders of more than 10% in principal amount of the outstanding Securities of that series.





 


ARTICLE VII


 


TRUSTEE


 


SECTION 7.01. Duties of Trustee. (a)
If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in 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: (1) the Trustee need perform only those duties that are specifically set forth in this
Indenture or the TIA, and no implied covenants or obligations shall be read into this Indenture against the Trustee and (2) in the absence
of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed
therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the
case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall examine the certificates and opinions to determine whether or not, on their face, they conform to the requirements of this
Indenture.


 


(c)   The
Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct
except that: (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01, (2) the Trustee shall not be liable
for any error of judgment made in good faith by a Trust Officer or other officer, unless it is proved that the Trustee was negligent in
ascertaining the pertinent facts and (3) the Trustee shall not be liable with respect to any action it takes or omits to take in good
faith in accordance with a direction received by it pursuant to Section 6.05.


 






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


 


(e)   No
provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee may refuse to
perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability, cost or expense
(including, without limitation, reasonable fees of counsel).


 


(f)   The
Trustee shall not be obligated to pay interest on any money or other assets received by it unless otherwise agreed in writing with the
Company. Assets held in trust by the Trustee need not be segregated from other funds except to the extent required by law.


 


SECTION 7.02. Rights of Trustee. Subject
to Section 7.01:


 


(a)   The
Trustee may conclusively rely on any document (whether in its original or facsimile form) reasonably believed by it to be genuine and
to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. The
Trustee shall receive and retain financial reports and statements of the Company as provided herein, but shall have no duty to review
or analyze such reports or statements to determine compliance under covenants or other obligations of the Company.


 


(b)   Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion of Counsel. The Trustee shall
not be liable for any action it takes or omits to take in good faith in reliance on an Officers’ Certificate or Opinion of Counsel.


 


(c)   The
Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent appointed
with due care.


 


(d)   The
Trustee shall not be 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, unless the Trustee’s conduct constitutes willful misconduct or negligence.


 


(e)   The
Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating to this
Indenture and the Securities 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 shall not be deemed to have notice of any Default or Event of Default unless a Trust 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 at the Corporate Trust Office
of the Trustee and such notice references the Securities and this Indenture.


 


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


 


(h)   The
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction
of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee reasonable security
or indemnity against the costs, expenses and liabilities which may be incurred therein or thereby.


 


(i)   Whenever
in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering
or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may request, and in the absence
of bad faith or willful misconduct on its part, rely upon an Officers’ Certificate and an Opinion of Counsel.


 






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(j)   The
Trustee may request that the Company deliver an Officers’ Certificate setting for the names of individuals and/or titles of officers
authorized at such times to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any
person specified as so authorized in any such certificate previously delivered and not superseded.


 


SECTION 7.03. Individual Rights of Trustee.


 


The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights
it would have if it were not Trustee. Any Agent may do the same with like rights. However, the Trustee is subject to Sections 7.10
and 7.11.


 


SECTION 7.04. Trustee’s Disclaimer.
The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for
the Company’s use of the proceeds from the Securities and it shall not be responsible for any statement in the Securities other
than its certificate of authentication.


 


SECTION 7.05. Notice of Defaults. If
a Default or Event of Default with respect to the Securities of any series occurs and is continuing, and if it is known to the Trustee,
the Trustee shall mail to Holders a notice of the Default or Event of Default within 90 days after the occurrence thereof. Except in the
case of a Default or Event of Default in payment of any such Security, the Trustee may withhold the notice if and so long as it in good
faith determines that withholding the notice is in the interests of the Holders.


 


SECTION 7.06. Reports by Trustee to Holders.
The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required by TIA Section 3.13
at the times and in the manner provided by the TIA, which shall initially be not less than every twelve months commencing on and may be
dated as of a date up to 75 days prior to such transmission.





 


A copy of each report at the time of its mailing
to Holders shall be filed with the SEC, if required, and each stock exchange, if any, on which the Securities are listed. The Company
shall promptly notify the Trustee when the Securities of any series are listed on any stock exchange.


 


SECTION 7.07. Compensation and Indemnity.
The Company shall be liable for paying to the Trustee from time to time reasonable compensation for its acceptance of this Indenture and
services hereunder as the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not
be limited by any law on compensation of a trustee of an express trust. The Company shall be liable for reimbursing the Trustee upon request
for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, costs of preparing and reviewing reports,
certificates and other documents, costs of preparation and mailing of notices to Securityholders and reasonable costs of counsel retained
by the Trustee in connection with the delivery of an Opinion of Counsel or otherwise, in addition to the compensation for its services.
Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel,
accountants and experts. The Company shall indemnify the Trustee against any and all loss, liability, damages, claims or expense (including
reasonable attorneys’ fees and expenses) incurred by it without negligence, bad faith or willful misconduct on its part in connection
with the administration of this trust and the performance of its duties hereunder, including the costs and expense of enforcing this Indenture
(including this Section 7.07) and of defending itself against any claims (whether asserted by any Securityholder, the Company or
otherwise). Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall
defend the claim, and the Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee may
have separate counsel and the Company shall pay the fees and expenses of such counsel, provided that the Company shall not be required
to pay such fees and expenses if it assumes the Trustee’s defense, and, in the reasonable judgment of outside counsel to the Trustee,
there is no conflict of interest between the Company and the Trustee in connection with such defense. Notwithstanding the foregoing, the
Company need not reimburse any expense or indemnify against any loss, liability or expense which is finally determined by a court of competent
jurisdiction to have been incurred by the Trustee through the Trustee’s own willful misconduct, negligence or bad faith.


 






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To secure the Company’s payment obligations
in this Section, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee other
than money or property held in trust to pay principal of and interest on particular Securities. Such lien shall survive the satisfaction
and discharge of this Indenture. The Trustee’s right to receive payment of any amounts due under this Section 7.07 shall
not be subordinate to any other liability or Indebtedness of the Company.


 


The Company’s and the Subsidiary Guarantors’
payment obligations pursuant to this Section shall survive the discharge of this Indenture. When the Trustee incurs expenses after the
occurrence of an Event of Default specified in clause (iv) or clause (v) of Section 6.01 with respect to the Company, the expenses
are intended to constitute expenses of administration under any Bankruptcy Law.


 


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


 


The Trustee may resign and be discharged from the
trust hereby created with respect to one or more or all series of Securities by so notifying the Company in writing. The Holders of a
majority in principal amount of the then outstanding Securities of any series may remove the Trustee with respect to that series by so
notifying the Trustee and the Company in writing. The Company may remove the Trustee with respect to one or more or all series of Securities
if: (i) the Trustee fails to comply with Section 7.10 or TIA Section 310; (ii) the Trustee is adjudged a bankrupt or an insolvent
or an order for relief is entered with respect to the Trustee under any Bankruptcy Law; (iii) a Custodian or public officer takes charge
of the Trustee or its property; or (iv) the Trustee becomes incapable of acting.


 


If, as to any series of Securities, the Trustee resigns
or is removed or if a vacancy exists in the office of the Trustee for any reason, the Company shall promptly appoint a successor Trustee
for that series of Securities. The Trustee shall be entitled to payment of its fees and reimbursement of its expenses while acting as
Trustee. Within one year after the successor Trustee takes office, the Holders of at least a majority in principal amount of then outstanding
Securities of that series may appoint a successor Trustee to replace the successor Trustee appointed by the Company.


 


Any Holder of Securities of that series may petition
any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee if the Trustee fails to
comply with Section 7.10.


 


A successor Trustee as to any series of Securities
shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal
of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. The Company shall mail a notice of the successor Trustee’s succession to the Holders. The retiring Trustee
shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07
hereof shall continue for the benefit of the retiring Trustee with respect to expenses, losses and liabilities incurred by it prior to
such replacement.


 


In case of the appointment hereunder of a successor
Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor
Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates, (2) shall contain such provisions as shall be necessary
or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that
or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add
to or change any of the provisions of this Indenture as shall be necessary or desirable to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee; provided, however, that nothing herein or in such supplemental indenture
shall constitute such Trustees to be co-Trustees of the same trust and that each such Trustee shall be Trustee of a trust hereunder separate
and apart from any trust hereunder administered by any other such Trustee.


 






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Upon the execution and delivery of such supplemental
indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates.


 


SECTION 7.09. Successor Trustee by Merger,
Etc.  Subject to Section 7.10, if the Trustee consolidates with, merges or converts into, or transfers all or substantially all
of its corporate trust business to, another corporation or national banking association, the successor entity without any further act
shall be the successor Trustee as to that series of Securities.


 


SECTION 7.10. Eligibility; Disqualification.
Each series of Securities shall always have a Trustee who satisfies the requirements of TIA Section 310(a) (1), (2) and (5). The Trustee
as to any series of Securities shall always 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 is subject to TIA Section 310(b).


 


SECTION 7.11. Preferential Collection of Claims
Against the Company. The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311
(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein.


 


ARTICLE VIII



DISCHARGE OF INDENTURE


 


SECTION 8.01. Satisfaction and Discharge of
Indenture. This Indenture shall cease to be of further effect (except as to any surviving rights of registration of transfer or
exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when


 


(a)  either


 


(i)  all Securities
theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or
paid) have been delivered to the Trustee for cancellation; or


 


(ii)  all such Securities
not theretofore delivered to the Trustee for cancellation


 


(1)  have become
due and payable, or


 


(2)  will become
due and payable at their stated maturity within one year, or


 


(3)  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 Company, or


 


(4)  are deemed paid
and discharged pursuant to Section 8.03, as applicable;


 


and the Company, in the case of (1), (2) or (3) above, has
deposited or caused to be deposited with the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging
the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to the
date of such deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the stated
maturity or redemption date, as the case may be;


 






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(b)  the
Company has paid or caused to be paid all other sums payable hereunder by the Company; and


 


(c)  the
Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent
herein provided for relating to the satisfaction and discharge of this Indenture have been complied with.


 


Notwithstanding the satisfaction and discharge of
this Indenture, the obligations of the Company to the Trustee under Section 7.07, and, if money shall have been deposited with
the Trustee pursuant to clause (a) of this Section or if money or obligations shall have been deposited with or received by the Trustee
pursuant to Section 8.03, the obligations of the Trustee under Section 8.02 and Section 8.05 shall survive.


 


SECTION 8.02. Application of Trust Funds; Indemnification.


 


(a)  Subject
to the provisions of Section 8.05, all money deposited with the Trustee pursuant to Section 8.01, all money and U.S. Government
Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04 and all money received by the Trustee in respect
of U.S. Government Obligations deposited with the Trustee pursuant to Section 8.03 or 8.04, shall be held in trust and applied
by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the
persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee
or to make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.03 and 8.04.





 


(b)  The
Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government
Obligations deposited pursuant to Sections 8.03 or 8.04 or the interest and principal received in respect of such obligations
other than any payable by or on behalf of Holders.


 


(c)  The
Trustee shall deliver or pay to the Company from time to time upon the request of the Company any U.S. Government Obligations or money
held by it as provided in Sections 8.03 or 8.04 which, in the opinion of a nationally recognized firm of independent certified
public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which
then would have been required to be deposited for the purpose for which such U.S. Government Obligations or money were deposited or received.
This provision shall not authorize the sale by the Trustee of any U.S. Government Obligations held under this Indenture.


 


SECTION 8.03. Legal Defeasance of Securities
of any Series. Unless this Section 8.03 is otherwise specified to be inapplicable to Securities of any series, the Company
shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any such series on the 91st day
after the date of the deposit referred to in subparagraph (a) hereof, and the provisions of this Indenture, as it relates to such outstanding
Securities of such series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, upon the request of the
Company, execute proper instruments acknowledging the same), except as to:


 


(i)  the
rights of Holders of Securities of such series to receive, from the trust funds described in subparagraph (d) hereof, (x) payment of the
principal of an each installment of principal of or interest on the outstanding Securities of such series on the stated maturity of such
principal of or interest and (y) the benefit of any mandatory sinking fund payments applicable to the Securities of such series on the
day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such series;


 


(ii)  the
Company’s obligations with respect to such Securities of such series under Sections 2.03, 2.06 and 2.07; and


 


(iii)  the
rights, powers, trust and immunities of the Trustee hereunder and the duties of the Trustee under Section 8.02 and the duty of
the Trustee to authenticate Securities of such series issued on registration of transfer of exchange;


 






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provided that, the following conditions shall have
been satisfied:


 


(a)  the
Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds in trust for the purpose of making
the following payments, specifically pledged as Security for and dedicated solely to the benefit of the Holders of such Securities, cash
in U.S. Dollars and/or U.S. Government Obligations which through the payment of interest and principal in respect thereof, in accordance
with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than
one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment
of principal (including mandatory sinking fund or analogous payments) of and interest, if any, on all the Securities of such series on
the dates such installments of interest or principal are due;


 


(b)  such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture;


 


(c)  no Default
or Event of Default with respect to the Securities of such series shall have occurred on the date of such deposit and 91 days shall have
passed after the deposit has been made, and, during such 91 day period, no Default specified in Section 6.0l(iv) or (v) with
respect to the Company occurs which is continuing at the end of such period;





 


(d)  the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the Company
has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution 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 of the Securities of such series will not recognize income, gain or loss for Federal
income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount
and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred;


 


(e)  the
Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the
intent of preferring the Holders of the Securities of such series over any other creditors of the Company or with the intent of defeating,
hindering, delaying or defrauding any other creditors of the Company;


 


(f)  such
deposit shall not result in the trust arising from such deposit constituting an investment company (as defined in the Investment Company
Act of 1940, as amended), or such trust shall be qualified under such Act or exempt from regulation thereunder; and


 


(g)  the
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent relating to the defeasance contemplated by this Section have been complied with.


 


SECTION 8.04. Covenant Defeasance.
Unless this Section 8.04 is otherwise inapplicable to Securities of any series, on and after the 91st day after the date of the
deposit referred to in subparagraph (a) hereof, the Company may omit to comply with any term, provision or condition set forth under Sections
4.03, 4.04 and 4.05 as well as any additional covenants contained in a supplemental indenture hereto for a particular
series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.01 (and the failure
to comply with any such provisions shall not constitute a Default or Event of Default under Section 6.01) and the occurrence of
any event described in clause (e) of Section 6.01 shall not constitute a Default or Event of Default hereunder, with respect to
the Securities of such series, provided that the following conditions shall have been satisfied:


 


(a)  With
reference to this Section 8.04, the Company has deposited or caused to be irrevocably deposited (except as provided in Section
8.03) with the Trustee as trust funds in trust, specifically pledged as Security for, and dedicated solely to, the benefit of the
Holders of such Securities, cash in U.S. Dollars and/or U.S. Government Obligations which through the payment of interest and principal
in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed
on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of
a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the
Trustee, to pay principal and interest, if any, on and any mandatory sinking fund in respect of the Securities of such series on the dates
such installments of interest or principal are due;


 






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(b)  Such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture;


 


(c)  No Default
or Event of Default with respect to the Securities of such series shall have occurred on the date of such deposit and 91 days shall have
passed after the deposit has been made, and, during such 91 day period, no Default specified in Section 6.01(iv) or (v) with respect to
the Company occurs which is continuing at the end of such period;


 


(d)  The
Company shall have delivered to the Trustee an Opinion of Counsel confirming that Holders of the Securities of such series 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;





 


(e)  The
Company shall have delivered to the Trustee an Officers’ Certificate stating the deposit was not made by the Company with the intent
of preferring the Holders of the Securities of such series over any other creditors of the Company or with the intent of defeating, hindering,
delaying or defrauding any other creditors of the Company; and


 


(f)  The
Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the defeasance contemplated by this Section have been complied with.


 


SECTION 8.05. Repayment to Company.
The Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest
that remains unclaimed for two years after the date upon which such payment shall have become due. After payment to the Company, Holders
entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates
another Person.


 


ARTICLE IX



AMENDMENTS, SUPPLEMENTS AND WAIVERS


 


SECTION 9.01. Without Consent of Holders.
The Company and the Trustee may amend this Indenture or the Securities without the consent of any Holder: (i) to cure any ambiguity, defect
or inconsistency or make any change required to qualify the indenture under the TIA, provided that such change does not adversely affect
the rights hereunder of any Holder in any material respect; (ii) to comply with Section 5.01; (iii) to provide for uncertificated
Securities in addition to certificated Securities; (iv) to make any change that does not adversely affect in any material respect the
rights hereunder of any Holder; (v) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series
of Securities, provided, however, that any such addition, change or elimination (A) shall neither (i) apply to any Security
of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (ii) modify
the rights of the holder of any such Security with respect to such provision or (B) shall become effective only when there is no outstanding
Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provisions; or
(vi) to establish additional series of Securities as permitted by Section 2.01.


 


SECTION 9.02. With Consent of Holders.
The Company and the Trustee as to any series of Securities may amend this Indenture or the Securities of that series or waive compliance
in any particular instance with any provision of this Indenture or the Securities of that series, in each case with the written consent
of the Holders of at least a majority in principal amount of the then outstanding Securities of that series.


 






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Without the consent of each Holder affected, an amendment
or waiver under this Section may not: (i) reduce the principal amount of Securities, whose Holders must consent to an amendment or waiver;
(ii) reduce the rate of or change the time for payment of interest on any Security; (iii) change the date on which any Security may be
subject to redemption or repurchase, or reduce the redemption or repurchase price therefor; (iv) make any Security payable in currency
other than that stated in the Security; or (v) make any change in Section 6.04, 6.07 or this sentence.


 


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


 


An amendment or waiver under this Section which waives,
changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one
or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such
covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series.


 


The Company will mail supplemental indentures to
Holders upon request. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such supplemental indenture or waiver.


 


SECTION 9.03. Compliance with Trust Indenture
Act. Every amendment to this Indenture or the Securities shall be set forth in a supplemental indenture that complies with the
TIA as then in effect.


 


SECTION 9.04. Revocation and Effect of Consents.
Until an amendment or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and
every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security,
even if notation of the consent is not made on any Security; provided, however, that unless a record date shall have been
established pursuant to Section 2.14, any such Holder or subsequent Holder may revoke the consent as to his Security or portion
of a Security if the Trustee receives written notice of revocation before the date the amendment or waiver becomes effective. An amendment
or waiver becomes effective on receipt by the Trustee of consents from the Holders of the requisite percentage principal amount of the
outstanding Securities of any series, and thereafter shall bind every Holder of Securities of that series.


 


SECTION 9.05. Notation on or Exchange of Securities.
If an amendment or waiver changes the terms of a Security: (a) the Trustee may require the Holder of the Security to deliver such Security
to the Trustee, the Trustee may place an appropriate notation on the Security about the changed terms and return it to the Holder and
the Trustee may place an appropriate notation on any Security thereafter authenticated; or (b) if the Company or the Trustee so determines,
the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms.


 


SECTION 9.06. Trustee to Sign Amendment, etc.
The Trustee shall sign any amendment 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 or refusing to sign such
amendment, the Trustee shall be entitled to receive and shall be fully protected in relying upon an Officers’ Certificate and an
Opinion of Counsel as conclusive evidence that such amendment is authorized or permitted by this Indenture and that such amendment, supplement
or waiver is the legal, valid and binding obligation of the Company, enforceable against it in accordance with its terms, subject to customary
exceptions, and complies with the provisions hereof (including Section 9.03).


 






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ARTICLE X



MISCELLANEOUS


 


SECTION 10.01. Trust Indenture Act Controls.
This Indenture is subject to the provisions of the TIA which are required to be part of this Indenture, and shall, to the extent applicable,
be governed by such provisions.


 


SECTION 10.02. Notices.  Any notice
or communication to the Company or the Trustee is duly given if in writing and delivered in person or mailed by first-class mail to the
address set forth below:


 


If to the Company:


 


COMSovereign Holding Corp.  


5000 Quorum Drive, Suite 400 Dallas, TX 75259





Attn: Daniel L. Hodges, Chief
Executive Officer 


(469) 930-2661



 


with a copy to:


 


Pryor Cashman LLP


7 Times Square


New York, New York 10036


Attention: Eric M. Hellige, Esq.


 


If to the Trustee:


 


[____________________]


_____________________


_____________________


_____________________


Attention: ____________


 


With a copy to:


 


_____________________


_____________________


_____________________


Attention: ____________


 


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


 


Any notice or communication to a Holder shall be
mailed by first-class mail to his address shown on the register kept by the registrar. Failure to mail a notice or communication to a
Holder or any defect in such notice or communication shall not affect its sufficiency with respect to other Holders.


 


If a notice or communication is mailed or sent in
the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it, except that notice to
the Trustee shall only be effective upon receipt thereof by the Trustee.


 


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


 


SECTION 10.03. Communication by Holders with
Other Holders.  Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this
Indenture or the Securities. The Company, the Trustee, the registrar and anyone else shall have the protection of TIA Section 312 (c)


 






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SECTION 10.04. Certificate and Opinion as
to Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish to the Trustee: (1) an Officers’ Certificate (which shall include the statements set
forth in Section 10.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in
this Indenture relating to the proposed action have been complied with; and (ii) an Opinion of Counsel (which shall include the
statements set forth in Section 10.05) stating that, in the opinion of such counsel, all such conditions
precedent and covenants have been complied with.





 


SECTION 10.05. Statements Required in Certificate
or Opinion. Each certificate (other than certificates provided pursuant to Section 4.04) or opinion with respect to compliance
with a condition or covenant provided for in this Indenture shall include: (i) a statement that the person making such certificate or
opinion has read such covenant or condition; (ii) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are based; (iii) a statement that, in the opinion of such person,
he or she 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 (iv) a statement as to whether or not, in the opinion of such person, such condition
or covenant has been complied with; provided, however, that with respect to matters of fact, an Opinion of Counsel may rely
on an Officers’ Certificate or certificate of public officials.


 


SECTION 10.06. Rules by Trustee and Agents.
The Trustee may make reasonable rules for action by or for a meeting of Holders. The Registrar or Paying Agent may make reasonable rules
and set reasonable requirements for its functions.


 


SECTION 10.07. Legal Holidays. A “Legal
Holiday” is a Saturday, a Sunday or a day on which banking institutions in the City of New York are not required or authorized
to be open. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that
is not a Legal Holiday, and no interest shall accrue for the intervening period.


 


SECTION 10.08. Duplicate Originals.
The parties may sign any number of copies of this Indenture. One signed copy is enough to prove this Indenture.


 


SECTION 10.09. Governing Law. The internal
laws of the State of New York shall govern this Indenture and the Securities, without regard to the conflicts of Law rules thereof.


 


SECTION 10.10. No Adverse Interpretation of
Other Agreements. This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or any
subsidiary. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.


 


SECTION 10.11. Successors. All agreements
of the Company in this Indenture and the Securities shall bind their respective successors. All agreements of the Trustee in this Indenture
shall bind its successor.


 


SECTION 10.12. Severability. In case
any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.


 


SECTION 10.13. Counterpart Originals. 
This Indenture may be signed in one or more counterparts. Each signed copy shall be an original, but all of them together represent the
same agreement.


 


	 	COMSovereign Holding Corp.
	 	 
	 	By:	                   
	 	Name:	           
	 	Title:	 
	 	 
	 	Dated:	 



 





	 	[	 	]


 





	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	Dated:	


 


 


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