Exhibit 4.1


 


INDENTURE


Dated as of [_________], 2021


 


 


 


 


between


 


HENNESSY ADVISORS, INC.


 


and


 


U.S. BANK NATIONAL ASSOCIATION,


 


as Trustee


 




     


     


    

 


TABLE OF CONTENTS*


 


Page


 


	Parties	 	     1
	Recitals	 	  1
	 	 	 
	Article 1. Definitions	1
	Section 1.01.	Definitions	1
	 	 	 
	Article 2. Debt Security Forms	9
	Section 2.01.	Forms Generally	9
	Section 2.02.	Forms of Debt Securities	9
	Section 2.03.	Form of Trustee’s Certificate of Authentication	10
	Section 2.04.	Debt Securities in Global Form	10
	 	 	 
	Article 3.
The Debt Securities	13
	Section 3.01.	Title and Terms	13
	Section 3.02.	Denominations	14
	Section 3.03.	Payment of Principal and Interest	14
	Section 3.04.	Execution of Debt Securities	15
	Section 3.05.	Temporary Debt Securities	16
	Section 3.06.	Exchange and Registration of Transfer of Debt Securities	17
	Section 3.07.	Mutilated, Destroyed, Lost or Stolen Debt Securities	18
	Section 3.08.	Payment of Interest; Interest Rights Preserved	19
	Section 3.09.	Persons Deemed Owners	20
	Section 3.10.	Cancellation of Debt Securities Paid, etc.	20
	Section 3.11.	Currency and Manner of Payments	21
	 	 	 
	Article 4.
Redemption of Debt Securities; Sinking Funds	22
	Section 4.01.	Applicability of Article	22
	Section 4.02.	Notice of Redemption; Selection of Debt Securities	23
	Section 4.03.	Payment of Debt Securities Called for Redemption	24
	Section 4.04.	Exclusion of Certain Debt Securities from Eligibility for Selection for Redemption	24
	Section 4.05.	Provisions with Respect to any Sinking Funds	25
	 	 	 
	Article 5.
Particular Covenants of the Company	26
	Section 5.01.	Payment of Principal, Premium and Interest	26
	Section 5.02.	Offices for Notices and Payments, etc.	26
	Section 5.03.	Appointments to Fill Vacancies in Trustee’s Office	27
	Section 5.04.	Provisions as to Paying Agent	27
	Section 5.05.	Certificate to Trustee	28



 





 






* This table of contents shall not, for any purpose, be deemed to be a part of the Indenture.


 






    i 


     


    

 


	Section 5.06.	Waivers of Covenants	28
	 	 	 
	Article 6.
Holders’ Lists and Reports by the Company and the Trustee	28
	Section 6.01.	Holders’ Lists	28
	Section 6.02.	Preservation and Disclosure of Lists	29
	Section 6.03.	Reports by the Company	29
	Section 6.04.	Reports by the Trustee	29
	 	 	 
	Article 7.
Remedies of the Trustee and Holders on Event of Default	30
	Section 7.01.	Events of Default	30
	Section 7.02.	Payment of Debt Securities Upon Default; Suit Therefor	32
	Section 7.03.	Application of Moneys Collected by Trustee	34
	Section 7.04.	Proceedings by Holders	35
	Section 7.05.	Proceedings by Trustee	35
	Section 7.06.	Remedies Cumulative and Continuing	35
	Section 7.07.	Direction of Proceedings and Waiver of Defaults by Majority of Holders	36
	Section 7.08.	Notice of Defaults	36
	Section 7.09.	Undertaking to Pay Costs	37
	Section 7.10.	Unconditional Right of Holders to Receive Principal, Premium and Interest	37
	 	 	 
	Article 8.
Concerning the Trustee	37
	Section 8.01.	Duties and Responsibilities of Trustee	37
	Section 8.02.	Reliance on Documents, Opinions, etc.	38
	Section 8.03.	No Responsibility for Recitals, etc.	40
	Section 8.04.	Trustee and Agents May Own Debt Securities	40
	Section 8.05.	Moneys to be Held in Trust	40
	Section 8.06.	Compensation and Expenses of Trustee	40
	Section 8.07.	Officers’ Certificate as Evidence	41
	Section 8.08.	Conflicting Interest of Trustee	41
	Section 8.09.	Eligibility of Trustee	41
	Section 8.10.	Resignation or Removal of Trustee	42
	Section 8.11.	Acceptance by Successor Trustee	43
	Section 8.12.	Succession by Merger, etc.	44
	Section 8.13.	Limitation on Rights of Trustee as a Creditor	44
	Section 8.14.	Authenticating Agents	44
	Section 8.15.	Trustee's Application for Instructions from the Company	47
	 	 	 
	Article 9.
Concerning the Holders	47
	Section 9.01.	Action by Holders	47
	Section 9.02.	Proof of Execution by Holders	47
	Section 9.03.	Who Are Deemed Absolute Owners	48
	Section 9.04.	Company-Owned Debt Securities Disregarded	48
	Section 9.05.	Revocation of Consents; Future Holders Bound	48



 






    ii 


     


    

 


	Article 10.
Holders’ Meetings	49
	Section 10.01.	Purposes of Meetings	49
	Section 10.02.	Call of Meetings by Trustee	49
	Section 10.03.	Call of Meetings by Company or Holders	50
	Section 10.04.	Qualifications for Voting	50
	Section 10.05.	Regulations	50
	Section 10.06.	Voting	51
	Section 10.07.	No Delay of Rights by Meeting	51
	 	 	 
	Article 11.
Supplemental Indentures	51
	Section 11.01.	Supplemental Indentures without Consent of Holders	51
	Section 11.02.	Supplemental Indentures with Consent of Holders	53
	Section 11.03.	Effect of Supplemental Indentures	54
	Section 11.04.	Notation on Debt Securities	54
	Section 11.05.	Evidence of Compliance of Supplemental Indenture to be Furnished Trustee	54
	 	 	 
	Article 12.
Consolidation, Merger, Sale and Conveyance	55
	Section 12.01.	Company May Consolidate, etc., on Certain Terms	55
	Section 12.02.	Successor Entity to be Substituted	55
	Section 12.03.	Opinion of Counsel to Be Given Trustee	55
	 	 	 
	Article 13.
Satisfaction and Discharge of Indenture	56
	Section 13.01.	Satisfaction, Discharge and Defeasance of Debt Securities of any Series	56
	Section 13.02.	Defeasance of Debt Securities of any Series	57
	Section 13.03.	Application of Trust Funds; Indemnification	58
	Section 13.04.	Return of Unclaimed Moneys	59
	Section 13.05.	Reinstatement	59
	 	 	 
	Article 14.
Immunity of Incorporators, Stockholders, Officers and Directors	59
	Section 14.01.	Indenture and Debt Securities Solely Obligations of the Company	59
	 	 	 
	Article 15.
Miscellaneous Provisions	60
	Section 15.01.	Provisions Binding on Successors of the Company	60
	Section 15.02.	Indenture for Sole Benefit of Parties and Holders of Debt Securities	60
	Section 15.03.	Addresses for Notices, etc.	60
	Section 15.04.	New York Contract; Waiver of Jury Trial	60
	Section 15.05.	Evidence of Compliance with Conditions Precedent	61
	Section 15.06.	Legal Holidays	61
	Section 15.07.	Trust Indenture Act of 1939 to Control	61
	Section 15.08.	Table of Contents, Headings, etc.	61
	Section 15.09.	Determination of Principal Amount	62
	Section 15.10.	Execution in Counterparts	62



 






    iii 


     


    

 


	Section 15.11.	U.S.A. Patriot Act	62
	Section 15.12.	Force Majeure	62
	 	 	 
	 	 	 
	Signatures 	 



 






    iv 


     


    

 


CROSS REFERENCE SHEET


 


Between


 


Provisions of Sections 310 through 318(a) inclusive
of Trust Indenture Act of 1939 and the Indenture dated as of [_________], 2021, between Hennessy Advisors, Inc. and U.S. Bank National
Association, a national banking association, as trustee.


 


	Section of Act	Section of Indenture
	310(a)(1) and (2)	8.09
	310(a)(3) and (4)	*
	310(b)	8.08 and 8.10
	310(c)	*
	311(a)	8.13
	311(b)	8.13
	311(c)	*
	312(a)	6.01 and 6.02(a)
	312(b)	6.02(b)
	312(c)	6.02(c)
	313(a)(1), (2), (3), (4), (6) and (7)	6.04(a)
	313(a)(5)	*
	313(b)(1)	*
	313(b)(2)	6.04
	313(c)	6.04
	313(d)	6.04
	314(a)(1)	6.03
	314(a)(2)	6.03
	314(a)(3)	6.03
	314(b)	*
	314(c)(1)	5.05
	314(c)(2)	15.05
	314(c)(3)	*
	314(d)	*
	314(e)	15.05
	314(f)	*
	315(a), (c) and (d)	8.01
	315(b)	7.08
	315(e)	7.09
	316(a)(1)	7.07
	316(a)(2)	*
	316(a) last para.	9.04
	316(b)	7.10
	317(a)	7.02
	317(b)	5.04
	318(a)	15.07





* Not Applicable.


 


This cross reference sheet shall not, for any purpose, be considered
part of the Indenture.


 




    v 


     


    

 


THIS INDENTURE, dated as of [_________],
2021, between Hennessy Advisors, Inc., a California corporation (the “Company”), and U.S. Bank National Association,
a national banking association, as trustee (the “Trustee”).


 


RECITALS OF THE COMPANY


 


The Company has duly authorized the execution and
delivery of this Indenture to provide for the issue from time to time of its unsecured debentures, notes, bonds or other evidences of
indebtedness to be issued in one or more series as provided in this Indenture, up to such principal amount or amounts as may from time
to time be authorized in or pursuant to one or more resolutions of the Board of Directors.


 


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


 


NOW, THEREFORE, THIS INDENTURE WITNESSETH:


 


For and in consideration of the premises and the
purchase or acceptance of the Debt Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate
benefit of the respective Holders from time to time of the Debt Securities or of any series thereof as follows:


 


Article 1.

Definitions


 


Section 1.01.       Definitions.
The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for
all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01.
All other terms used in this Indenture which are defined in the Trust Indenture Act of 1939 or which are by reference therein defined
in the Securities Act of 1933, as amended, shall have (except as herein otherwise expressly provided or unless the context otherwise requires)
the meanings assigned to such terms in said Trust Indenture Act of 1939 and in said Securities Act as in force at the date of the execution
of this Indenture. All accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted
accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles”
with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted in the
United States for domestic companies at the date of such computation. All references to such terms herein shall be both to the singular
or the plural, as the context so requires. Unless the context otherwise requires, any reference to an “Article” or a “Section”
refers to an Article or Section, as the case may be, of this Indenture. The words “herein,” “hereof” and
 “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision. The words “including,” “includes” and “include” shall be deemed to be followed
by the words “without limitation.” Unless otherwise provided in this Indenture or in any Debt Security, the words “execute,”
 “execution,” “signed,” and “signature” and words of similar import used in or related to any document
to be signed in connection with this Indenture, any Debt Security or any of the transactions contemplated hereby (including amendments,
waivers, consents and other modifications) shall be deemed to include electronic signatures and the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability as a manually executed signature in ink or the use of a paper-based
recordkeeping system, as applicable, to the fullest extent and as provided for in any applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other similar state
laws based on the Uniform Electronic Transactions Act, provided that, notwithstanding anything herein to the contrary, the Trustee is
not obligated to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Trustee pursuant
to procedures approved by the Trustee.


 






     


     


    

 


Affiliate:


 


The term “Affiliate”, when used with
respect to any specified Person, means any other Person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified
Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative
to the foregoing.


 


Authenticating Agent:


 


The term “Authenticating Agent” means
the agent of the Trustee, if any, which at the time shall be appointed and acting pursuant to Section 8.14.


 


Board of Directors:


 


The term “Board of Directors” means
the Board of Directors of the Company or any authorized committee of such Board designated by the Board of Directors or the amended and
restated articles of incorporation and fifth amended and restated bylaws of the Company, each as further amended and/or restated after
the date hereof to act for such Board for purposes of this Indenture.


 


Board Resolution:


 


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


 


Business Day:


 


The term “Business Day”, when used
with respect to any Place of Payment or any other particular location, means each Monday, Tuesday, Wednesday, Thursday and Friday which
is not a day on which banking institutions or trust companies in that Place of Payment or other location are authorized or obligated by
law, regulation or executive order to close.


 






    	 	2	 



     


    

 


Commission:


 


The term “Commission” means the U.S.
Securities and Exchange Commission.


 


Company:


 


“Company” means the party named as
the “Company” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions
of this Indenture and, thereafter, shall mean such successor. The forgoing sentence shall likewise apply to any subsequent such successor
or successors.


 


Company Request and Company Order:


 


The terms “Company Request” and “Company
Order” mean, respectively, a written request or order signed in the name of the Company by its Chairman of the Board, Vice Chairman
of the Board, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer or a Vice President, and by its Treasurer,
Secretary, Assistant Secretary or Assistant Treasurer, and delivered to the Trustee.


 


Conversion Date:


 


The term “Conversion Date” has the
meaning set forth in Section 3.11.


 


Corporate Trust Office:


 


The term “Corporate Trust Office” means
the office of the Trustee at which, at any particular time, its corporate trust business shall principally be administered, which office
at the date hereof is located at U.S. Bank National Association, Attn: Hennessy Advisors Notes Administrator, 60 Livingston Avenue, St.
Paul, MN 55107, or such other address as the Trustee may designate from time to time by notice to the Company, or the principal corporate
trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the
Company).


 


Currency Determination Agent:


 


The term “Currency Determination Agent”
means the financial institution, if any, from time to time selected by the Company for purposes of Section 3.11.


 


Debt Security or Debt Securities:


 


The terms “Debt Security” or “Debt
Securities” means any unsecured notes, debentures or other indebtedness of any series, as the case may be, issued by the Company
from time to time, and authenticated and delivered under this Indenture.


 


Debt Security Register:


 


The term “Debt Security Register” has
the meaning set forth in Section 3.06.


 






    	 	3	 



     


    

 


Debt Security Registrar:


 


The term “Debt Security Registrar”
has the meaning set forth in Section 3.06.


 


Depository:


 


The term “Depository” means, unless
otherwise specified by the Company pursuant to Section 3.01, with respect to Debt Securities of any series issuable or issued as
a Global Debt Security, The Depository Trust Company, New York, New York, or any successor thereto registered as a clearing agency pursuant
to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation.


 


Dollar:


 


The term “Dollar” means the coin or
currency of the United States of America which as of the time of payment is legal tender for the payment of public and private debts.


 


Dollar Equivalent of the Foreign Currency:


 


The term “Dollar Equivalent of the Foreign
Currency” has the meaning set forth in Section 3.11.


 


Event of Default:


 


The term “Event of Default” has the
meaning specified in Section 7.01.


 


Foreign Currency:


 


The term “Foreign Currency” means a
currency issued by the government of any country other than the United States of America.


 


Global Debt Security:


 


The term “Global Debt Security” means
a Debt Security issued in global form pursuant to Section 2.04 hereof to evidence all or part of a series of Debt Securities.


 


Government Obligations:


 


The term “Government Obligations” means
securities which are (i) direct obligations of the government which issued the currency in which the Debt Securities of a series
are denominated or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of the government
which issued the currency in which the Debt Securities of such series are denominated, the payment of which obligations is unconditionally
guaranteed by such government, and which, in either case, are full faith and credit obligations of such government, are denominated in
the currency in which the Debt Securities of such series are denominated and which are not callable or redeemable at the option of the
issuer thereof.


 






    	 	4	 



     


    


 


Holder:


 


The term “Holder” means any Person
in whose name a Debt Security of any series is registered in the Debt Security Register applicable to Debt Securities of such series.


 


Indenture:


 


The term “Indenture” means this instrument
as originally executed and delivered or, if amended or supplemented as herein provided pursuant to the applicable provisions hereof, as
so amended or supplemented.


 


Indexed Debt Security:


 


The term “Indexed Debt Security” means
a Debt Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal
face amount thereof at original issuance.


 


Interest:


 


The term “interest”, when used with
respect to an Original Issue Discount Debt Security which by its terms bears interest only after maturity, means interest payable after
maturity.


 


Interest Payment Date:


 


The term “Interest Payment Date”, when
used with respect to any series of Debt Securities, means the Stated Maturity of an installment of interest on such Debt Securities.


 


Market Exchange Rate:


 


The term “Market Exchange Rate” shall
have the meaning set forth in Section 3.11.


 


Officers’ Certificate:


 


The term “Officers’ Certificate”,
when used with respect to the Company, means a certificate signed by its Chairman of the Board, Vice Chairman of the Board, Chief Executive
Officer, President, Chief Operating Officer, Chief Financial Officer or a Vice President and by its Treasurer, Secretary, Assistant Secretary
or Assistant Treasurer and delivered to the Trustee. Each such certificate shall include the statements provided for in Section 15.05
to the extent required by the provisions of such Section.


 


Opinion of Counsel:


 


The term “Opinion of Counsel” means
an opinion in writing signed by legal counsel who may be an employee of or counsel to the Company and such opinion shall be reasonably
acceptable to the Trustee. Each such opinion shall include the statements provided for in Sections 2.02, 3.04 and 15.05 to the extent
required by the provisions of such Sections.


 






    	 	5	 



     


    

 


Original Issue Discount Debt Security:


 


The term “Original Issue Discount Debt Security”
means any Debt Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of
acceleration of the maturity thereof pursuant to Section 7.01.


 


Outstanding:


 


The term “Outstanding”, when used with
respect to Debt Securities or Debt Securities of any series, means, as of the date of determination, all such Debt Securities theretofore
authenticated and delivered under this Indenture, except:


 


(i)            such
Debt Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;


 


(ii)            such
Debt Securities for whose payment or redemption money in the necessary amount and in the specified currency has been theretofore deposited
with the Trustee or any paying agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company
shall act as its own paying agent) for the Holders of such Debt Securities, provided, however, that if such Debt Securities are to be
redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has
been made;


 


(iii)            such
Debt Securities in exchange for or in lieu of which other such Debt Securities have been authenticated and delivered pursuant to this
Indenture, or such Debt Securities which have been paid, pursuant to this Indenture, unless proof satisfactory to the Trustee is presented
that any such Debt Securities are held by Persons in whose hands any of such Debt Securities are a legal, valid and binding obligation
of the Company, and


 


(iv)            such
Debt Securities the indebtedness in respect to which has been discharged in accordance with Section 13.01.


 


provided, however, that in determining whether the Holders of
the requisite principal amount of such Outstanding Debt Securities have given any request, demand, authorization, direction, notice, consent
or waiver hereunder, such Debt Securities owned by the Company or any other obligor upon such Debt Securities or any Affiliate of the
Company or such other obligor (except in the case in which the Company or such other obligor or Affiliate owns all Debt Securities Outstanding
under the Indenture, or all Outstanding Debt Securities of each such series, as the case may be, without regard to this proviso) shall
be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent or waiver, only such Debt Securities which a Responsible Officer of the
Trustee actually knows to be so owned shall be so disregarded. Such Debt Securities so owned which have been pledged in good faith may
be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect
to such Debt Securities and that the pledgee is not the Company or any other such obligor upon such Debt Securities or any Affiliate of
the Company or such other obligor. In case of a dispute as to such right, the decision of the Trustee upon the advice of counsel shall
be full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers’ Certificate
listing and identifying all such Debt Securities, if any, known by the Company to be owned or held by or for the account of any of the
above described Persons; and, subject to the provisions of Section 8.01, the Trustee shall be entitled to accept such Officers’
Certificate as conclusive evidence of the facts therein set forth and of the fact that all such Debt Securities not listed therein are
Outstanding for the purpose of any such determination.


 






    	 	6	 



     


    

 


Person:


 


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


 


Place of Payment:


 


The term “Place of Payment”, when used
with respect to the Debt Securities of any series, means the place or places where the principal of (and premium, if any) and interest
on the Debt Securities of that series are payable as specified in accordance with Section 3.01.


 


Predecessor Debt Security:


 


The term “Predecessor Debt Security”
of any particular Debt Security means every previous Debt Security evidencing all or a portion of the same debt as that evidenced by such
particular Debt Security, and for the purposes of this definition, any Debt Security authenticated and delivered under Section 3.07
in lieu of a mutilated, lost, destroyed or stolen Debt Security shall be deemed to evidence the same debt as the mutilated, lost, destroyed
or stolen Debt Security.


 


Redemption Date:


 


The term “Redemption Date”, when used
with respect to any Debt Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture.


 


Redemption Price:


 


The term “Redemption Price”, when used
with respect to any Debt Security to be redeemed, means the price specified in such Debt Security at which it is to be redeemed pursuant
to this Indenture.


 


Regular Record Date:


 


The term “Regular Record Date” for
the interest payable on any Debt Security on any Interest Payment Date means the date specified in such Debt Security as the “Regular
Record Date” as contemplated by Section 3.01.


 






    	 	7	 



     


    

 


Responsible Officer:


 


The term “Responsible Officer”, when
used with respect to the Trustee, means any officer of the Trustee assigned to the Corporate Trust Administration unit (or any successor
division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration
of this Indenture and, shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such
officer’s knowledge of and familiarity with the particular subject.


 


The term “Responsible Officer”, when
used with respect to the Company, means the Chairman of the Board, Vice Chairman of the Board, Chief Executive Officer, President, Chief
Operating Officer, Chief Financial Officer, Treasurer or Secretary, or any Vice President, Assistant Secretary or Assistant Treasurer,
in each case, of the Company.


 


Special Record Date:


 


The term “Special Record Date” for
the payment of any Defaulted Interest (as defined in Section 3.08) means a date fixed by the Trustee pursuant to Section 3.08.


 


Stated Maturity:


 


The term “Stated Maturity” when used
with respect to any Debt Security or any installment of principal thereof or of interest thereon, means the date specified in such Debt
Security as the fixed date on which the principal of such Debt Security, or such installment of interest, is due and payable.


 


Subsidiary:


 


The term “Subsidiary” means any Person
of which the Company, or the Company and one or more Subsidiaries, or any one or more Subsidiaries, directly or indirectly own more than
50% of the Voting Stock.


 


Trustee:


 


“Trustee” means the party named as
the “Trustee” in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions
of this Indenture and, thereafter, shall mean such successor. The foregoing sentence shall likewise apply to any subsequent such successor
or successors.


 


Trust Indenture Act of 1939:


 


The term “Trust Indenture Act of 1939”
means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was executed; provided, however,
that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act of 1939” means to the extent
required by any such amendment, the Trust Indenture Act of 1939 as so amended.


 






    	 	8	 



     


    

 


Valuation Date:


 


The term “Valuation Date” has the meaning
set forth in Section 3.11.


 


Voting Stock:


 


The term “Voting Stock” means outstanding
shares of capital stock or similar equity interests having under ordinary circumstances voting power for the election of directors, managers
or the substantial equivalent thereof whether at all times or only so long as no senior class of stock or similar equity interest has
such voting power by reason of the happening of any contingency.


 


Article 2.

Debt Security Forms.


 


Section 2.01.          Forms
Generally. The Debt Securities of each series and the certificates of authentication thereon shall have such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture (the provisions of which shall be appropriate
to reflect the terms of each series of Debt Securities, including the currency or denomination, which may be Dollars or Foreign Currency),
and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon, as may be required
to comply with the rules of any securities exchange, or as may, consistently herewith, be determined by the officers executing such
Debt Securities, as evidenced by their signing of such Debt Securities. Any portion of the text of any Debt Security may be set forth
on the reverse thereof, with an appropriate reference thereto on the face of the Debt Security.


 


The definitive Debt Securities may be produced
in any manner, all as determined by the officers executing such Debt Securities, as evidenced by their signing of such Debt Securities.


 


Section 2.02.           Forms
of Debt Securities. The Debt Securities of each series shall be in such form or forms (including global form) as shall be established
by or pursuant to a Board Resolution.


 


Prior to the delivery of a Debt Security of any
series in any such form to the Trustee for the Debt Securities of such series for authentication, the Company shall deliver to the Trustee
the following:


 


(a)            The
Board Resolution by or pursuant to which such form of Debt Security has been approved;


 


(b)            An
Officers’ Certificate dated the date such Certificate is delivered to the Trustee stating that all conditions precedent provided
for in this Indenture relating to the authentication and delivery of Debt Securities in such form have been complied with;


 






    	 	9	 



     


    

 


(c)            An
Opinion of Counsel stating that Debt Securities in such form, together with any coupons appertaining thereto, when (i) completed
by appropriate insertions and executed and delivered by the Company to the Trustee for authentication in accordance with this Indenture,
(ii) authenticated and delivered by such Trustee in accordance with this Indenture within the authorization as to aggregate principal
amount established from time to time by the Board of Directors, and (iii) sold in the manner specified in such Opinion of Counsel,
will be the legal, valid and binding obligations of the Company, subject to applicable bankruptcy, reorganization, insolvency and other
similar laws generally affecting creditors’ rights, to general equitable principles and to such other qualifications as such counsel
shall conclude do not materially affect the rights of Holders of such Debt Securities; and


 


(d)            A
Company Order requesting the authentication and delivery of the Debt Securities.


 


The definitive Debt Securities and coupons, if
any, shall be printed, lithographed or engraved or produced by any combination of these methods or may be produced in any other manner,
all as determined by the officers executing such Debt Securities or coupons, as evidenced by their execution thereof.


 


Section 2.03.          Form of
Trustee’s Certificate of Authentication. The following is the form of the Certificate of Authentication of the Trustee to be
endorsed on the face of all Debt Securities substantially as follows:


 


This is one of the Debt Securities of the series
designated herein issued under the within-mentioned Indenture.


 


Dated: ______________________


 


	 	U.S. Bank National Association, as Trustee
	 	 
	 	 
	 	 
	 	By:	 	,
	 	Authorized Signatory



 


Section 2.04.          Debt
Securities in Global Form. (a) If the Company shall establish pursuant to Section 3.01 that the Debt Securities of a particular
series are to be issued in whole or in part in the form of one or more Global Debt Securities, then the Company shall execute and the
Trustee or its agent shall, in accordance with Section 3.04 and the Company Order delivered to the Trustee or its agent thereunder,
authenticate and deliver such Global Debt Security or Global Debt Securities, which (i) shall represent, and shall be denominated
in an amount equal to the aggregate principal amount of, the Outstanding Debt Securities of such series to be represented by such Global
Debt Security or Global Debt Securities, or such portion thereof as the Company shall specify in a Company Order, (ii) shall be
registered in the name of the Depository for such Global Debt Security or Global Debt Securities or its nominee, (iii) shall be
delivered by the Trustee or its agent to the Depository or pursuant to the Depository’s instruction and (iv) shall bear a
legend substantially to the following effect: “Unless this certificate is presented by an authorized representative of the Depository
to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name
of the nominee of the Depository or in such other name as is requested by an authorized representative of the Depository (and any payment
is made to the nominee of the Depository or to such other entity as is requested by an authorized representative of the Depository),
ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof,
the nominee of the Depository, has an interest herein.”


 






    	 	10	 



     


    

 


Holders shall have no rights either under this Indenture with respect
to any Global Debt Securities held on their behalf by the Depository or by the custodian of the Global Debt Security, or under such Global
Debt Security, and the Depository may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the owner
of such Global Debt Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee or any Agent or other agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization
furnished by the Depository or impair, as between the Depository and its Holders, the operation of customary practices of the Depository
governing the exercise of the rights of an owner of a beneficial interest in any Global Debt Security.


 


The Trustee shall have no responsibility or obligation to any Holder,
any member of (or participant in) the Depository or any other Person with respect to the accuracy of the records of the Depository (or
its nominee), with respect to any ownership interest in a Debt Security, with respect to the delivery by the Depository of any notice
(including any notice of redemption) or the payment by the Depository of any amount or delivery by the Depository of any Debt Security
under or with respect to the Debt Security or with respect to any other action taken or not taken by the Depository. The Trustee may conclusively
rely (and shall be fully protected in relying) upon information furnished by the Depository with respect to its members, participants
and any Holders of Debt Securities.


 


(b)            Notwithstanding
any other provision of this Section 2.04 or of Section 3.06, and subject to the provisions of paragraph (c) below, unless
the terms of a Global Debt Security expressly permit such Global Debt Security to be exchanged in whole or in part for individual certificates
representing Debt Securities, a Global Debt Security may be transferred, in whole but not in part and in the manner provided in Section 3.06,
only to a nominee of the Depository for such Global Debt Security, or to the Depository, or a successor Depository for such Global Debt
Security selected or approved by the Company, or to a nominee of such successor Depository.


 


(c)            (1) If
at any time the Depository for a Global Debt Security notifies the Company that it is unwilling or unable to continue as Depository for
such Global Debt Security or if at any time the Depository for the Global Debt Securities for such series shall no longer be eligible
or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, the Company shall
appoint a successor Depository with respect to such Global Debt Security. If a successor Depository for such Global Debt Security is not
appointed by the Company within 90 days after the Company receives notice or becomes aware of such ineligibility, the Company will execute,
and the Trustee or its agent, upon receipt of a Company Request for the authentication and delivery of certificates representing Debt
Securities of such series in exchange for such Global Debt Security, will authenticate and deliver, certificates representing Debt Securities
of such series of like tenor and terms in an aggregate principal amount equal to the principal amount of the Global Debt Security in exchange
for such Global Debt Security.


 






    	 	11	 



     


    

 





(2)            The
Company may at any time and in its sole discretion determine that the Debt Securities of any series or portion thereof issued or issuable
in the form of one or more Global Debt Securities shall no longer be represented by such Global Debt Security or Global Debt Securities.
In such event the Company will execute, and the Trustee, upon receipt of a Company Request for the authentication and delivery of certificates
representing Debt Securities of such series in exchange in whole or in part for such Global Debt Security, will authenticate and deliver
certificates representing Debt Securities of such series of like tenor and terms in definitive form in an aggregate principal amount equal
to the principal amount of such Global Debt Security or Global Debt Securities representing such series or portion thereof in exchange
for such Global Debt Security or Global Debt Securities.


 


(3)            If
specified by the Company pursuant to Section 3.01 with respect to Debt Securities issued or issuable in the form of a Global Debt
Security, the Depository for such Global Debt Security may surrender such Global Debt Security in exchange in whole or in part for certificates
representing Debt Securities of such series of like tenor and terms in definitive form on such terms as are acceptable to the Company
and such Depository. Thereupon the Company shall execute, and the Trustee or its agent shall authenticate and deliver, without a service
charge, (A) to each Holder specified by the Debt Security Registrar or the Depository a certificate or certificates representing
Debt Securities of the same series of like tenor and terms and of any authorized denomination as requested by such person in an aggregate
principal amount equal to and in exchange for such Holder’s beneficial interest as specified by the Debt Security Registrar or the
Depository in the Global Debt Security; and (B) to such Depository a new Global Debt Security of like tenor and terms and in an authorized
denomination equal to the difference, if any, between the principal amount of the surrendered Global Debt Security and the aggregate principal
amount of certificates representing Debt Securities delivered to Holders thereof.


 


(4)            In
any exchange provided for in any of the preceding three paragraphs, the Company will execute and the Trustee or its agent will authenticate
and deliver certificates representing Debt Securities in definitive registered form in authorized denominations for Debt Securities of
the same series or any integral multiple thereof. Upon the exchange of the entire principal amount of a Global Debt Security for certificates
representing Debt Securities, such Global Debt Security shall be cancelled by the Trustee or its agent. Except as provided in the preceding
paragraph, certificates representing Debt Securities issued in exchange for a Global Debt Security pursuant to this Section shall
be registered in such names and in such authorized denominations for Debt Securities of that series or any integral multiple thereof,
as the Debt Security Registrar or Depository shall instruct the Trustee or its agent. The Trustee or the Debt Security Registrar shall
deliver at its Corporate Trust Office such certificates representing Debt Securities to the Holders in whose names such Debt Securities
are so registered.


 






    	 	12	 



     


    

 


Article 3.

The Debt Securities.


 


Section 3.01.          Title
and Terms. The aggregate principal amount of Debt Securities which may be authenticated and delivered under this Indenture is unlimited.
The Debt Securities may be issued up to the aggregate principal amount of Debt Securities from time to time authorized by or pursuant
to a Board Resolution.


 


The Debt Securities may be issued in one or more
series. All Debt Securities of each series issued under this Indenture shall in all respects be equally and ratably entitled to the benefits
hereof with respect to such series without preference, priority or distinction on account of the actual time or times of the authentication
and delivery or maturity of the Debt Securities of such series. There shall be established in or pursuant to a Board Resolution, and set
forth in an Officers’ Certificate to the extent not established in a Board Resolution, or established in one or more indentures
supplemental hereto, prior to the issuance of Debt Securities of any series:


 


(a)            the
title of the Debt Securities of the series (which shall distinguish the Debt Securities of the series from all other series of Debt Securities);


 


(b)            any
limit upon the aggregate principal amount of the Debt Securities of the series which may be authenticated and delivered under this Indenture
(except for Debt Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debt
Securities of that series pursuant to this Article Three, the second paragraph of Section 4.03, or Section 11.04);


 


(c)            the
date or dates (or the manner of calculation thereof) on which the principal of the Debt Securities of the series is payable;


 


(d)            the
rate or rates (or the manner of calculation thereof) at which the Debt Securities of the series shall bear interest, if any, the date
or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the Regular Record
Date for the interest payable on any Interest Payment Date;


 


(e)            the
Place of Payment;


 


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


 


(g)            the
obligation, if any, of the Company to redeem or purchase Debt Securities of the series pursuant to any sinking fund or analogous provisions
or at the option of a Holder thereof and the period or periods within which, the price or prices in the currency at which, the currency
or currency units in which, and the terms and conditions upon which Debt Securities of the series shall be redeemed or purchased, in whole
or in part, pursuant to such obligation;


 


(h)            the
denominations in which the Debt Securities of such series shall be issuable if other than denominations of $1,000 and any integral multiple
of $1,000 in excess thereof;


 






    	 	13	 



     


    

 


(i)            if
other than Dollars, the currencies in which payments of interest or principal of (and premium, if any, with respect to) the Debt Securities
of the series are to be made;


 


(j)            if
the interest on or principal of (or premium, if any, with respect to) the Debt Securities of the series are to be payable, at the election
of the Company or a Holder thereof or otherwise, in a currency other than that in which such Debt Securities are payable, the period or
periods within which, and the other terms and conditions upon which, such election may be made, and the time and manner of determining
the exchange rate between the currency in such Debt Securities are denominated or stated to be payable and the currency in which such
Debt Securities or any of them are to be so payable;


 


(k)            whether
the amount of payments of interest on or principal of (or premium, if any, with respect to) the Debt Securities of such series may be
determined with reference to an index, formula or other method (which index, formula or method or method may be based on one or more currencies,
commodities, equity indices or other indices), and, if so, the terms and conditions upon which and the manner in which such amounts shall
be determined and paid or payable;


 


(l)            the
extent to which any Debt Securities will be issuable in permanent global form, the manner in which any payments on a permanent global
Debt Security will be made, and the appointment of any Depository relating thereto;


 


(m)            any
deletions from, modifications of or additions to the Events of Default or covenants with respect to the Debt Securities of such series,
whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein;


 


(n)            if
any of the Debt Securities of such series are to be issuable upon the exercise of warrants, this shall be so established as well as the
time, manner and place for such Debt Securities to be authenticated and delivered; and


 


(o)            any
other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture).


 


All Debt Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise be provided in or pursuant to such Board Resolution and
set forth in such Officers’ Certificate or in any such indenture supplemental hereto.


 


Section 3.02.          Denominations.
The Debt Securities of each series shall be issuable in registered form without coupons in such denominations as shall be specified as
contemplated in Section 3.01. In the absence of any specification with respect to the Debt Securities of any series, the Debt Securities
of such series shall be issuable in denominations of $1,000 and any integral multiple of $1,000 in excess thereof, which may be in Dollars
or any Foreign Currency.


 


Section 3.03.          Payment
of Principal and Interest. The principal of, premium, if any, and interest on the Debt Securities shall be payable at the office
or agency of the Company designated for that purpose in the Place of Payment, as provided in Section 5.02; provided, however, that
interest may be payable at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall
appear on the Debt Security Register on the Regular Record Date for such interest payment.


 






    	 	14	 



     


    

 


Section 3.04.          Execution
of Debt Securities. The Debt Securities shall be executed manually, electronically or by facsimile or other electronic method in the
name and on behalf of the Company by its Chairman of the Board of Directors, Chief Executive Officer, its President, its Chief Financial
Officer, one of its Vice Presidents or its Treasurer and by its Secretary or one of its Assistant Secretaries. Only such Debt Securities
as shall bear thereon a certificate of authentication substantially in the form hereinbefore recited, executed manually, electronically
or by facsimile by the Trustee, shall be entitled to the benefits of this Indenture or be valid or become obligatory for any purpose.
Such certificate by the Trustee upon any Debt Security executed by the Company shall be conclusive evidence that the Debt Security so
authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture.


 


In case any officer of the Company who shall have
executed any of the Debt Securities shall cease to be such officer before the Debt Securities so executed shall have been authenticated
and delivered by the Trustee, or disposed of by the Company, such Debt Securities nevertheless shall be valid and binding and may be authenticated
and delivered or disposed of as though the Person who executed such Debt Securities had not ceased to be such officer of the Company;
and any Debt Securities may be executed on behalf of the Company by such Persons as, at the actual date of the execution of such Debt
Security, shall be the proper officers of the Company, although at the date of such Debt Security or of the execution of this Indenture
any such Person was not such an officer.


 


At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Debt Securities of any series, properly created in accordance with Section 3.01
and executed by the Company, to the Trustee for authentication; and the Trustee shall authenticate and deliver such Debt Securities upon
receipt of a Company Order. In the event that any other Person performs the Trustee’s duties as Authenticating Agent pursuant to
a duly executed agreement, the Company shall notify the Trustee in writing of the issuance of any Debt Securities hereunder, such notice
to be delivered in accordance with the provisions of Section 15.03 on the date such Debt Securities are delivered by the Company
for authentication to such other Person.


 


Prior to any such authentication and delivery,
the Trustee shall receive, and shall be fully protected in relying upon, in addition to the Opinion of Counsel to be furnished to the
Trustee pursuant to Sections 2.02 and 15.05 and the Officers’ Certificate relating to the issuance of any series of Debt Securities
pursuant to Sections 15.05 and 3.01, Opinions of Counsel stating that:


 


(a)            all
instruments furnished to the Trustee conform to the requirements of this Indenture and constitute sufficient authority hereunder for the
Trustee to authenticate and deliver such Debt Securities;


 






    	 	15	 



     


    

 


(b)            all
laws and requirements with respect to the form and execution by the Company of the supplemental indenture, if any, have been complied
with, the execution and delivery of the supplemental indenture, if any, will not violate the terms of this Indenture, the supplemental
indenture has been duly qualified under the Trust Indenture Act of 1939, the Company has corporate or company power to execute and deliver
any such supplemental indenture and has taken all necessary corporate action for those purposes and any such supplemental indenture has
been executed and delivered and constitutes the legal, valid and binding obligation of the Company enforceable in accordance with its
terms (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting
creditors’ rights generally from time to time in effect);


 


(c)            the
form and terms of such Debt Securities have been established in conformity with the provisions of this Indenture; and


 


(d)            all
laws and requirements with respect to the execution and delivery by the Company of such Debt Securities have been complied with, the authentication
and delivery of the Debt Securities by the Trustee will not violate the terms of this Indenture, the Company has the corporate or company
power to issue such Debt Securities and such Debt Securities, assuming due authentication and delivery by the Trustee, constitute legal,
valid and binding obligations of the Company in accordance with their terms (subject, as to enforcement of remedies, to applicable bankruptcy,
reorganization, insolvency, moratorium or other laws affecting creditors’ rights generally from time to time in effect) and are
entitled to the benefits of this Indenture, equally and ratably with all other Outstanding Debt Securities, if any, of such series.


 


The Trustee shall not be required to authenticate
such Debt Securities if the issue thereof will adversely affect the Trustee’s own rights, duties, benefits, privileges, protections,
indemnities or immunities under the Debt Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to
the Trustee or such action would expose the Trustee to personal liability to existing Holders.


 


Unless otherwise provided in the form of Debt Security
for any series, all Debt Securities shall be dated the date of their authentication.


 


No Debt Security shall be entitled to any benefit
under this Indenture or be valid or obligatory for any purpose, unless there appears on such Debt Security a certificate of authentication
substantially in the form provided for herein executed by the Trustee by manual, facsimile or electronic signature, and such certificate
upon any Debt Security shall be conclusive evidence, and the only evidence, that such Debt Security has been duly authenticated and delivered
hereunder.


 


Section 3.05.          Temporary
Debt Securities. Pending the preparation of definitive Debt Securities of any series, the Company may execute, and upon receipt of
the documents required by Sections 2.02, 3.01 and 3.04, together with a Company Order, the Trustee shall authenticate and deliver, such
temporary Debt Securities which may be produced in any authorized denominations, substantially of the tenor of such definitive Debt Securities
in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing
such temporary Debt Securities may determine, as evidenced by their execution of such temporary Debt Securities.


 






    	 	16	 



     


    

 


If temporary Debt Securities of any series are
issued, the Company will cause definitive Debt Securities of such series to be prepared without unreasonable delay. After the preparation
of definitive Debt Securities of any series, the temporary Debt Securities of such series shall be exchangeable for definitive Debt Securities
of such series, upon surrender of the temporary Debt Securities of such series at any office or agency maintained by the Company for such
purposes as provided in Section 5.02, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Debt Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefore a like principal
amount of definitive Debt Securities of such series having the same interest rate and Stated Maturity and bearing interest from the same
date of any authorized denominations. Until so exchanged the temporary Debt Securities of such series shall in all respects be entitled
to the same benefits under this Indenture as definitive Debt Securities of such series.


 


Section 3.06.          Exchange
and Registration of Transfer of Debt Securities. Debt Securities may be exchanged for a like aggregate principal amount of Debt Securities
of such series that are of other authorized denominations. Debt Securities to be exchanged shall be surrendered at any office or agency
to be maintained for such purpose by the Company, as provided in Section 5.02, and the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefore the Debt Security or Debt Securities of authorized denominations which the Debt Security
Holder making the exchange shall be entitled to receive. Each agent of the Company appointed pursuant to Section 5.02 as a person
authorized to register and register transfer of Debt Securities is sometimes herein referred to as a “Debt Security Registrar.”


 


The Company shall keep, at each such office or
agency of the Company maintained for such purpose, as provided in Section 5.02, a register for each series of Debt Securities hereunder
(the registers of all Debt Security Registrars being herein sometimes collectively referred to as the “Debt Security Register”)
in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Debt Securities
and shall register the transfer of Debt Securities as provided in this Article Three. At all reasonable times, such Debt Security
Register shall be open for inspection by the Trustee and any Debt Security Registrar other than the Trustee. The Holder transferring Debt
Securities shall provide or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable
tax reporting obligations, including any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may
rely on such information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. Upon due
presentment for registration of transfer of any Debt Security at any such office or agency, the Company shall execute and register and
the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Debt Security or Debt Securities of authorized
denominations for an equal aggregate principal amount. Registration or registration of transfer of any Debt Security by any Debt Security
Registrar in the registry books maintained by such Debt Security Registrar, and delivery of such Debt Security, duly authenticated, shall
be deemed to complete the registration or registration of transfer of such Debt Security.


 






    	 	17	 



     


    

 


The Company will at all times designate one Person
(who may be the Company and who need not be a Debt Security Registrar) to act as repository of a master list of names and addresses of
Holders of the Debt Securities. The Trustee shall act as such repository unless and until some other Person is, by written notice from
the Company to the Trustee and each Debt Security Registrar, designated by the Company to act as such. The Company shall cause each Debt
Security Registrar to furnish to such repository, on a current basis, such information as such repository may reasonably request as to
registrations, transfers, exchanges and other transactions effected by such registrar, as may be necessary or advisable to enable such
repository to maintain such master list on as current a basis as is reasonably practicable.


 


No Person shall at any time be appointed as or
act as a Debt Security Registrar unless such Person is at such time empowered under applicable law to act as such and duly registered
to act as such under and to the extent required by applicable law and regulations.


 


All Debt Securities presented to a Debt Security
Registrar for registration of transfer shall be duly endorsed by, or be accompanied by a written instrument or instruments of transfer
in form satisfactory to the Company and such Debt Security Registrar duly executed by the registered Holder or such Holder’s attorney
duly authorized in writing.


 


No service charge shall be made for any exchange
or registration of transfer of Debt Securities, but the Company or the Trustee may require payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in connection therewith.


 


The Company shall not be required to issue, exchange
or register a transfer of (a) any Debt Securities of any series for a period of 15 days next preceding the sending of a notice of
redemption of Debt Securities of such series and ending at the close of business on the day of the sending of a notice of redemption of
Debt Securities of such series so selected for redemption, or (b) any Debt Securities selected, called or being called for redemption
except, in the case of any Debt Security to be redeemed in part, the portion thereof not so to be redeemed. In addition, the Company shall
not be required to register the transfer of or to exchange a Debt Security between a record date and the next succeeding Interest Payment
Date.


 


All Debt Securities issued in exchange for or upon
registration of transfer of Debt Securities shall be valid obligations of the Company, evidencing the same debt, and entitled to the same
benefits under this Indenture, as the Debt Securities surrendered for such exchange or registration of transfer.


 


None of the Trustee, any agent of the Trustee,
any paying agent or the Company will have any responsibility or liability for any aspect of the records relating to or payments made on
account of beneficial ownership interests of a Global Debt Security or for maintaining, supervising or reviewing any records relating
to such beneficial ownership interests.


 


Section 3.07.          Mutilated,
Destroyed, Lost or Stolen Debt Securities. In case any temporary or definitive Debt Security shall become mutilated or be destroyed,
lost or stolen, the Company in its discretion may execute, and upon its request the Trustee shall authenticate and deliver, a new Debt
Security, bearing a number, letter or other distinguishing mark not contemporaneously Outstanding, in exchange and substitution for the
mutilated Debt Security, or in lieu of and in substitution for the Debt Security so destroyed, lost or stolen. In every case the applicant
for a substituted Debt Security shall furnish to the Company and to the Trustee such security or indemnity as may be required by them
to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and to
the Trustee evidence to their satisfaction of the destruction, loss or theft, of such Debt Security and of the ownership thereof.


 






    	 	18	 



     


    

 


In the absence of notice to the Trustee or the
Company that such Debt Security has been acquired by a bona fide purchaser, the Trustee shall authenticate any such substituted Debt Security
and deliver the same upon any Company Request. Upon the issuance of any substituted Debt Security, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected
therewith. In case any Debt Security which has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the
Company may, instead of issuing a substituted Debt Security, pay or authorize the payment of the same (without surrender thereof except
in the case of a mutilated Debt Security) if the applicant for such payment shall furnish to the Company and to the Trustee such security
or indemnity as may be required by them to save each of them harmless and, in case of destruction, loss or theft, evidence satisfactory
to the Company and to the Trustee of the destruction, loss or theft of such Debt Security and of the ownership thereof.


 


Every substituted Debt Security issued pursuant
to the provisions of this Section 3.07 by virtue of the fact that any Debt Security is destroyed, lost or stolen shall constitute
an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debt Security shall be found at any
time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Debt Securities duly
issued hereunder. All Debt Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt Securities and shall preclude (to the extent permitted
by law) any and all other rights or remedies with respect to the replacement or payment of negotiable instruments or other securities
without their surrender.


 


Section 3.08.          Payment
of Interest; Interest Rights Preserved. Interest which is payable, and is punctually paid or duly provided for, on any Interest Payment
Date, on any Debt Security, shall unless otherwise provided in such Debt Security be paid to the Person in whose name the Debt Security
(or one or more Predecessor Debt Securities) is registered at the close of business on the Regular Record Date for such interest.


 


Unless otherwise stated in the form of Debt Security
of a series, interest on the Debt Securities of any series shall be computed on the basis of a 360 day year comprised of twelve 30 day
months.


 






    	 	19	 



     


    

 



 


Any interest on any Debt Security which is payable,
but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith
cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted
Interest may be paid by the Company, at its election in each case, as provided in Clause (a) or (b) below:


 


(a)            The
Company may elect to make payment of any Defaulted Interest to the Persons in whose names any such Debt Securities (or their respective
Predecessor Debt Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest,
which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed
to be paid on each Debt Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date
of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of
the proposed payment of such Defaulted Interest and the Special Record Date therefore to be mailed, first-class postage prepaid, to each
Holder of such Debt Securities, at such Holder’s address as it appears in the Debt Security Register, not less than 10 days prior
to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefore having been
mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Debt Securities (or their respective Predecessor
Debt Securities) are registered on such Special Record Date and shall no longer be payable pursuant to the following Clause (b).


 


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


 


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


 


Section 3.09.          Persons
Deemed Owners. The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any Debt Security
is registered as the owner of such Debt Security for the purpose of receiving payment of principal of, premium, if any, and (subject to
Section 3.08) interest on, such Debt Security and for all other purposes whatsoever whether or not such Debt Security be overdue,
and neither the Company, the Trustee, nor any agent of the Company or the Trustee shall be affected by notice to the contrary.


 


Section 3.10.          Cancellation
of Debt Securities Paid, etc. All Debt Securities surrendered for the purpose of payment, redemption, exchange or registration
of transfer or delivered in satisfaction in whole or in part of any sinking fund obligation shall, if surrendered to the Company or any
agent of the Trustee or the Company under this Indenture, be delivered to the Trustee and promptly cancelled by it, or, if surrendered
to the Trustee, shall be promptly cancelled by it, and no Debt Securities shall be issued in lieu thereof except as expressly permitted
by any of the provisions of this Indenture. The Trustee shall dispose of cancelled Debt Securities in accordance with its customary procedures,
and certification of their cancellation by the Trustee shall be delivered to the Company by the Trustee promptly upon receipt by the Trustee
of a Company Order.


 






    	 	20	 



     


    

 


Section 3.11.          Currency
and Manner of Payments. (a)  With respect to Debt Securities denominated in Dollars or a Foreign Currency, the following payment
provisions shall apply:


 


(1)            Except
as provided in subparagraph (a)(2) or in paragraph (c) of this Section 3.11, payment of principal of and premium, if any,
on any Debt Securities will be made at the offices established pursuant to Section 5.02 by delivery of a check in the currency in
which the Debt Security is denominated on the payment date against surrender of such Debt Security, and any interest on any Debt Security
will be paid at such office by mailing a check in the currency in which the Debt Securities were issued to the Person entitled thereto
at the address of such Person appearing on the Debt Security Register.


 


(2)            Payment
of the principal of and premium, if any, and interest on such Debt Security may also, subject to applicable laws and regulations, be made
at such other place or places as may be designated by the Company by any appropriate method.


 


(b)            Not
later than the fourth Business Day after the Regular Record Date for such Interest Payment Date, the paying agent will deliver to the
Company a written notice specifying, in the currency in which each series of the Debt Securities are denominated, the respective aggregate
amounts of principal of and premium, if any, and interest on the Debt Securities to be made on such payment date, specifying the amounts
so payable in respect of the Debt Securities. The failure of the paying agent to deliver such notice shall not relieve the Company from
its obligation to make all payments with respect to any Debt Security when due.


 


(c)            If
the Foreign Currency in which any of the Debt Securities are denominated ceases to be used both by the government of the country which
issued such currency and for the settlement of transactions by public institutions of or within the international banking community, then
with respect to each date for the payment of Foreign Currency occurring after the last date on which the Foreign Currency was so used
(the “Conversion Date”), the Dollar shall be the currency of payment for use on each such Interest Payment Date. The Dollar
amount to be paid by the Company to the Trustee and by the Trustee or any paying agent to the Holder of such Debt Securities with respect
to such payment date shall be the Dollar Equivalent of the Foreign Currency as determined by the Currency Determination Agent as of the
second Business Day preceding the applicable payment date (the “Valuation Date”) in the manner provided in paragraph (d).


 


(d)            The
 “Dollar Equivalent of the Foreign Currency” shall be determined by the Currency Determination Agent as of each Valuation Date
and shall be obtained by converting the specified Foreign Currency into Dollars at the Market Exchange Rate on the Valuation Date.


 






    	 	21	 



     


    

 


(e)            The
 “Market Exchange Rate” shall mean, for any currency, the highest firm bid quotation for U.S. dollars received by the Currency
Determination Agent at approximately 11:00 a.m., New York City time, on the second Business Day preceding the applicable payment date
(or, if no such rate is quoted on such date, the last date on which such rate was quoted), from three recognized foreign exchange dealers
in the City of New York selected by the Currency Determination Agent and approved by the Company (one of which may be the Currency Determination
Agent) for the purchase by the quoting dealer, for settlement on such payment date, of the aggregate amount of such currency payable on
such payment in respect of all Notes denominated in such currency.


 


(f)            All
decisions and determinations of the Currency Determination Agent regarding the Dollar Equivalent of the Foreign Currency and the Market
Exchange Rate shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably
binding upon the Company and all Holders of the Debt Securities. In the event that the Foreign Currency ceases to be used both by the
government of the country which issued such currency and for the settlement of transactions by public institutions of or within the international
banking community, the Company, after learning thereof, will promptly give notice thereof to the Trustee (and the Trustee will promptly
thereafter give notice in the manner provided in Section 15.03 to the Holders) specifying the Conversion Date.


 


(g)            The
Trustee shall be fully justified and protected in relying on and acting upon the information so received by it from the Company or the
Currency Determination Agent and shall not otherwise have any duty or obligation to determine such information independently. If the principal
of (and premium, if any) and interest on any Debt Securities is payable in a Foreign Currency and such Foreign Currency is not available
for payment due to the imposition of exchange controls or other circumstances beyond the control of the Company, then the Company shall
be entitled to satisfy its obligations to Holders under this Indenture by making such payment in Dollars on the basis of the Market Exchange
Rate for such Foreign Currency on the latest date for which such rate was established on or before the date on which payment is due. Any
payment made pursuant to this Section 3.11 in Dollars where the required payment is in a Foreign Currency shall not constitute a
default or Event of Default under this Indenture.


 


Article 4.

Redemption of Debt Securities; Sinking Funds.


 


Section 4.01.          Applicability
of Article. The Company may reserve the right to redeem and pay before Stated Maturity all or any part of the Debt Securities of any
series, either by optional redemption, sinking fund (mandatory or optional) or otherwise, by provision therefor in the form of Debt Security
for such series on such terms as are specified in such form or the Board Resolution or Officers’ Certificate delivered pursuant
to Section 3.01 or the indenture supplemental hereto as provided in Section 3.01 with respect to Debt Securities of such series.
Redemption of Debt Securities of any series shall be made in accordance with the terms of such Debt Securities and, to the extent that
this Article does not conflict with such terms, in accordance with this Article.


 






    	 	22	 



     


    

 


Section 4.02.          Notice
of Redemption; Selection of Debt Securities. In case the Company shall desire to exercise the right to redeem all, or, as the case
may be, any part of a series of Debt Securities pursuant to Section 4.01, the Company shall fix a date for redemption and the Company,
or, at the Company’s request and provision of such notice information, the Trustee in the name of and at the expense of the Company,
shall send a notice of such redemption at least 30 and not more than 60 days prior to the date fixed for redemption to the Holders of
Debt Securities so to be redeemed as a whole or in part at their last addresses as the same appear on the Debt Securities Register. The
notice, if sent 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 or any defect in the notice to the Holder of any Debt Security designated for redemption
as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Debt Security.


 


Notice of redemption shall be given in the name
of the Company and shall specify the date fixed for redemption, the Redemption Price at which Debt Securities of any series are to be
redeemed, the place of payment (which shall be at the offices or agencies to be maintained by the Company pursuant to Section 5.02),
that payment of the Redemption Price will be made upon presentation and surrender of such Debt Securities, that interest accrued to the
date fixed for redemption will be paid as specified in said notice that on and after said date interest thereon or on the portions thereof
to be redeemed will cease to accrue, and the Section of this Indenture pursuant to which Debt Securities will be redeemed. In case
less than all Debt Securities of any series are to be redeemed, the notice of redemption shall also identify the particular Debt Securities
to be redeemed as a whole or in part and shall state that the redemption is for the sinking fund, if such is the case. In case any Debt
Security is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed
and shall state that on and after the date fixed for redemption, upon surrender of such Debt Security, a new Debt Security or Debt Securities
of such series in aggregate principal amount equal to the unredeemed portion thereof will be issued without charge to the Holder.


 


If less than all the Debt Securities of any
series are to be redeemed, the Company shall give the Trustee notice, at least 45 days (or such shorter period acceptable to the
Trustee) in advance of the date fixed for redemption, as to the aggregate principal amount of Debt Securities to be redeemed. Debt
Securities may be redeemed in part in multiples equal to the minimum authorized denomination for Debt Securities of such series or
any multiple thereof. Thereupon the Trustee or, with respect to Global Debt Securities, the Depository, shall select, in such manner
as in its sole discretion it shall deem appropriate and fair (and, in such manner that complies with the requirements of the
Depository, if applicable), the Debt Securities or portions thereof to be redeemed, and shall as promptly as practicable notify the
Company of the Debt Securities or portions thereof so selected. For all purposes of this Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Debt Securities of any series shall relate, in the case of any Debt Security
redeemed or to be redeemed only in part, to the portion of the principal amount of such Debt Security which has been or is to be
redeemed.


 


On or prior to the date fixed for redemption specified
in the notice of redemption given as provided in this Section 4.02, the Company will deposit with the Trustee or with the paying
agent an amount of money in the currency in which the Debt Securities of such series are payable sufficient to redeem on the date fixed
for redemption all the Debt Securities so called for redemption at the appropriate Redemption Price, together with accrued interest to
the date fixed for redemption.


 


The Trustee shall not send any notice of redemption
of any series of Debt Securities during the continuation of any default in payment of interest on any series of Debt Securities when due
or of any Event of Default, except that where notice of redemption with respect to any series of Debt Securities shall have been sent
prior to the occurrence of such default or Event of Default, the Trustee shall redeem such Debt Securities provided funds are deposited
with it for such purpose.


 






    	 	23	 



     


    

 


Notwithstanding any provision
hereof to the contrary, notice of any redemption to the Holders of Debt Securities may, in the Company’s discretion, be subject
to one or more conditions precedent, including completion of a corporate transaction. In such event, the related notice of redemption
shall describe each such condition and, if applicable, shall state that, in the Company’s discretion, the date of redemption may
be delayed until such time as any or all such conditions shall be satisfied or waived, or such redemption may not occur and such notice
may be rescinded in the event that any or all such conditions shall not have been satisfied or waived by the date of redemption, or by
the date of redemption as so delayed.


 


Section 4.03.          Payment
of Debt Securities Called for Redemption. If notice of redemption has been given as herein provided, the Debt Securities or portions
of Debt Securities with respect to which such notice has been given shall become due and payable on the date and at the place stated in
such notice at the applicable Redemption Price, together with interest accrued to the date fixed for redemption, and on and after said
date (unless the Company shall default in the payment of such Debt Securities or portions thereof at the Redemption Price) interest on the Debt Securities or portions of Debt Securities so called for redemption shall cease to
accrue, and such Debt Securities and portions of Debt Securities shall be deemed not to be Outstanding hereunder and shall not be entitled
to any benefit under this Indenture except to receive payment of the Redemption Price, together with accrued interest to the date fixed
for redemption. On presentation and surrender of such Debt Securities at the place of payment in said notice specified, the said Debt
Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price, together with
interest accrued thereon to the date fixed for redemption; provided, however, that any installments of interest becoming due on the date
fixed for redemption shall be payable to the Holders of such Debt Securities, or one or more previous Debt Securities evidencing all or
a portion of the same debt as that evidenced by such particular Debt Securities, registered as such on the relevant record dates according
to their terms and the provisions of Section 3.08.


 


Upon presentation and surrender of any Debt Security
redeemed in part only, with, if the Company or the Trustee so required, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing,
the Company shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Debt
Security or Debt Securities of the same series having the same interest rate and Stated Maturity and bearing interest from the same date,
of any authorized denominations as requested by such Holder, in aggregate principal amount equal to the unredeemed portion of the Debt
Security so presented and surrendered.


 


Section 4.04.          Exclusion
of Certain Debt Securities from Eligibility for Selection for Redemption. Debt Securities shall be excluded from eligibility for selection
for redemption if they are identified by registration and certificate number in a written statement signed by a Responsible Officer of
the Company and delivered to the Trustee at least 45 days prior to the last date on which notice of redemption may be given as being owned
of record and beneficially by, and not pledged or hypothecated by, either (a) the Company or (b) an entity specifically identified
in such written statement directly or indirectly controlling or controlled by or under direct or indirect common control with the Company.


 






    	 	24	 



     


    

 


Section 4.05.          Provisions
with Respect to any Sinking Funds. Unless the form or terms of any series of Debt Securities shall provide otherwise, in lieu of making
all or any part of any mandatory sinking fund payment with respect to such series of Debt Securities in cash, the Company may at its option
(a) deliver to the Trustee for cancellation any Debt Securities of such series theretofore acquired by the Company, or (b) receive
credit for any Debt Securities of such series (not previously so credited) acquired by the Company and theretofore delivered to the Trustee
for cancellation, then Debt Securities so delivered or credited shall be credited at the applicable sinking fund Redemption Price with
respect to the Debt Securities of such series.


 


On or before the 45th day next preceding each sinking
fund Redemption Date, the Company will deliver to the Trustee a certificate signed by the Chief Financial Officer, any Vice President,
the Treasurer or any Assistant Treasurer of the Company specifying (i) the portion of the mandatory sinking fund payment to be satisfied
by deposit of cash in the currency in which the Debt Securities of such series are payable, by delivery of Debt Securities theretofore
purchased or otherwise acquired by the Company (which Debt Securities shall accompany such certificate) and by credit for Debt Securities
acquired by the Company and theretofore delivered to the Trustee for cancellation redeemed by the Company and stating that the credit
to be applied has not theretofore been so applied and (ii) whether the Company intends to exercise its right, if any, to make an
optional sinking fund payment, and, if so, the amount thereof. Such certificate shall also state that no Event of Default has occurred
and is continuing. Such certificate shall be irrevocable and upon its delivery the Company shall be obligated to make the payment or payments
therein referred to, if any, on or before the next succeeding sinking fund payment date. In case of the failure of the Company on or before
the 45th day next preceding each sinking fund Redemption Date to deliver such certificate (or to deliver the Debt Securities specified
in this paragraph), the sinking fund payment due on the next succeeding sinking fund payment date shall be paid entirely in cash (in the
currency described above) and shall be sufficient to redeem the principal amount of Debt Securities as a mandatory sinking fund payment,
without the option to deliver or credit Debt Securities as provided in the first paragraph of this Section 4.05 and without the right
to make an optional sinking fund payment as provided herein.


 


If the sinking fund payment or payments (mandatory
or optional) with respect to any series of Debt Securities made in cash (in the currency described above) shall exceed the minimum authorized
denomination set forth in an Officers’ Certificate pursuant to Section 3.01 or the equivalent in the currency in which the
Debt Securities of such series are payable (or a lesser sum if the Company shall so request), unless otherwise provided by the terms of
such series of Debt Securities, said cash shall be applied by the Trustee on the sinking fund Redemption Date with respect to Debt Securities
of such series at the applicable sinking fund Redemption Price with respect to Debt Securities of such series, together with accrued interest,
if any, to the date fixed for redemption, with the effect provided in Section 4.03. The Trustee shall select, in the manner provided
in Section 4.02, for redemption on such sinking fund Redemption Date a sufficient principal amount of Debt Securities of such series
to utilize said cash and shall thereupon cause notice of redemption of the Debt Securities of such series for the sinking fund to be given
in the manner provided in Section 4.02 (and with the effect provided in Section 4.03) for the redemption of Debt Securities
in part at the option of the Company. Debt Securities of any series which are identified by registration and certificate number in an
Officers’ Certificate at least 45 days prior to the sinking fund Redemption Date as being beneficially owned by, and not pledged
or hypothecated by, the Company or an entity directly or indirectly controlling or controlled by or under direct or indirect common control
with the Company shall be excluded from Debt Securities of such series eligible for selection for redemption. Any sinking fund moneys
not so applied or allocated by the Trustee to the redemption of Debt Securities of such series shall be added to the next cash sinking
fund payment with respect to Debt Securities of such series received by the Trustee and, together with such payment, shall be applied
in accordance with the provisions of this Section 4.05. Any and all sinking fund moneys with respect to Debt Securities of any series
held by the Trustee at the maturity of Debt Securities of such series, and not held for the payment or redemption of particular Debt Securities
of such series, shall be applied by the Trustee, together with other moneys, if necessary, to be deposited sufficient for the purpose,
to the payment of the principal of the Debt Securities of such series at maturity.


 






    	 	25	 



     


    

 


The Trustee shall not convert any currency in which
the Debt Securities of such series are payable for the purposes of such sinking fund application unless a Company Request is made, and
any such conversion agreed to by the Trustee in response to such request shall be for the account and at the expense of the Company and
shall not affect the Company’s obligation to pay the Holders in the currency to which such Holder is entitled.


 


On or before each sinking fund Redemption Date
provided with respect to Debt Securities of any series, the Company shall pay to the Trustee in cash in the currency described above a
sum equal to all accrued interest, if any, to the date fixed for redemption on Debt Securities to be redeemed on such sinking fund Redemption
Date pursuant to this Section 4.05.


 


Article 5.

Particular Covenants of the Company.


 


Section 5.01.          Payment
of Principal, Premium and Interest. The Company will duly and punctually pay or cause to be paid (in the currency in which the Debt
Securities of such series are payable) the principal of and premium, if any, and interest on each of the Debt Securities at the place
(subject to Section 3.03), at the respective times and in the manner provided in each series of Debt Securities and in this Indenture.


 


Section 5.02.          Offices
for Notices and Payments, etc. (a)  So long as the Debt Securities of any series remain Outstanding, the Company will maintain
at the Place of Payment, an office or agency where the Debt Securities may be presented for payment, an office or agency where the Debt
Securities may be presented for registration of transfer and for exchange as provided in this Indenture, and an office or agency where
notices and demands to or upon the Company in respect of the Debt Securities or of this Indenture may be served and shall give the Trustee
written notice thereof and any changes in the location thereof. In case the Company shall at any time fail to maintain any such office
or agency, or shall fail to give notice to the Trustee of any change in the location thereof, presentation and demand may be made and
notice may be served in respect of the Debt Securities or of this Indenture at said office of the Trustee.


 






    	 	26	 



     


    

 


(b)            In
addition to the office or agency maintained by the Company pursuant to Section 5.02(a), the Company may from time to time designate
one or more other offices or agencies where the Debt Securities may be presented for payment and presented for registration of transfer
and for exchange in the manner provided in this Indenture, and the Company may from time to time rescind such designations, as the Company
may deem desirable or expedient; provided, however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain such office and agency at the Place of Payment, for the purposes abovementioned. The Company will
give to the Trustee prompt written notice of (i) any such designation or rescission thereof, and (ii) the location of any such
office or agency outside the Place of Payment and of any change of location thereof.


 


Section 5.03.          Appointments
to Fill Vacancies in Trustee’s Office. The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee,
will appoint, in the manner provided in Section 8.10, a Trustee, so that there shall at all times be a Trustee hereunder.


 


Section 5.04.          Provisions
as to Paying Agent. (a) (1)  If the Company shall elect the Trustee to initially act as its paying agent or Debt Security
Registrar, it will appoint the Trustee, in writing; provided that the Company may change any paying agent or Debt Security Registrar without
notice to any Holder. The Company or any of its subsidiaries may act in any such capacity. The Company hereby appoints the Trustee to
act as initial paying agent and Debt Security Registrar and the Trustee accepts such appointment. Whenever the Company shall have one
or more paying agents for any series of Debt Securities other than the Trustee, it will, on or before each due date of the principal of
(and premium, if any) or interest on any Debt Securities of such series, deposit with a paying agent a sum sufficient to pay such amount
becoming due, such sum to be held as provided by the Trust Indenture Act of 1939, and (unless such paying agent is the Trustee) the Company
will promptly notify the Trustee of its action or failure so to act.


 


(2)            The
Company will cause each paying agent other than the Trustee to execute and deliver to the Trustee an instrument in which such paying agent
shall agree with the Trustee, subject to the provisions of this Section, that such paying agent will: (i) comply with the provisions
of the Trust Indenture Act of 1939 applicable to it as a paying agent and (ii) during the continuance of any default by the Company
(or any other obligor upon any series of Debt Securities) in the making of any payment in respect of the Debt Securities of such series,
upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such paying agent as such.


 


(b)            If
the Company shall act as its own paying agent, it will, on or prior to each due date of the principal of and premium, if any, or interest
on Debt Securities of any series, set aside, segregate and hold in trust for the benefit of the Holders of such Debt Securities a sum
sufficient to pay such principal and premium, if any, or interest so becoming due and will notify the Trustee of any failure to take such
action and of any failure by the Company (or by any other obligor on such series of Debt Securities) to make any payment of the principal
of and premium, if any, or interest on the Debt Securities when the same shall become due and payable.


 






    	 	27	 



     


    

 


(c)            Anything
in this Section 5.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of obtaining a satisfaction and
discharge of this Indenture with respect to any or all series of Debt Securities then Outstanding, or for any other reason, pay or cause
to be paid to the Trustee all sums held in trust by the Company, or any paying agent hereunder, as required by this Section 5.04,
such sums to be held by the Trustee upon the trusts herein contained.


 


(d)            Anything
in this Section 5.04 to the contrary notwithstanding, the agreement to hold sums in trust provided in this Section 5.04 is subject
to Section 13.04.


 


Section 5.05.          Certificate
to Trustee. So long as the Debt Securities of any series remain Outstanding, the Company will deliver to the Trustee on or
before 120 days after the end of each fiscal year 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 default by the Company in the
performance or fulfillment or observance of any covenants or agreements contained herein during the preceding fiscal year, stating
whether or not they have knowledge of any such default and, if so, specifying each such default of which the signers have knowledge
and the nature thereof and, if not, certifying that to the knowledge of such officers, the Company is in compliance with the Indenture and any such series of
Outstanding Debt Securities. The Officers’ Certificate need not comply with Section 15.05. The Company shall deliver to the
Trustee, as soon as possible and in any event, within five Business Days after a Responsible Officer of the Company becomes aware of
the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of
Default, an Officers’ Certificate setting forth the details of such Event of Default or default and the action which the
Company proposes to take with respect thereto.


 


Section 5.06.          Waivers
of Covenants. Anything in this Indenture to the contrary notwithstanding, the Company may fail or omit, in respect of any series of
Debt Securities, and in any particular instance, to comply with a covenant, agreement or condition contained in Sections 5.02, 5.04 (other
than in 5.04(a)(1) and (2)) or 5.05, or with any additional covenant, agreement or condition contained in a Board Resolution or Officers’
Certificate establishing such series of Debt Securities, any indenture supplemental hereto applicable to such series or any Debt Security
of such series if the Company shall have obtained and filed with the Trustee before or after the time for such compliance the consent
in writing of the Holders of more than 50% in aggregate principal amount of the Debt Securities of the series affected by such waiver
at the time Outstanding, either waiving such compliance in such instance or generally waiving compliance with such covenant or condition,
but no such waiver shall extend to or affect any obligation not expressly waived nor impair any right consequent thereon and, until such
waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition
shall remain in full force and effect.


 


Article 6.

Holders’ Lists and Reports by the Company

and the Trustee.


 


Section 6.01.          Holders’
Lists. The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee, not more than 15 days after
each Regular Record Date with respect to the Debt Securities of any series, and at such other times as the Trustee may request in writing,
within 30 days after receipt by the Company of any such request, a list in such form as the Trustee may reasonably require of the names
and addresses of the Holders of Debt Securities of such series as of a date not more than 15 days prior to the time such information is
furnished; provided, however, that no such list with respect to any particular series of Debt Securities need be furnished at any
such time if the Trustee is in possession thereof by reason of its acting as the Debt Security Registrar for such series designated under
Section 3.06 or otherwise.


 






    	 	28	 



     


    

 


Section 6.02.          Preservation
and Disclosure of Lists. (a)  The Trustee shall preserve, in as current a form as is reasonably practicable, all information
as to the names and addresses of the Holders of Debt Securities contained in the most recent list furnished to it as provided in Section 6.01
or received by the Trustee in the capacity of the Debt Security Registrar (if so acting) under Section 3.06. The Trustee may destroy
any list furnished to it as provided in Section 6.01 upon receipt of a new list so furnished.


 


(b)            The
rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Debt Securities of
any series or of all Debt Securities, and the corresponding rights and duties of the Trustee, shall be as provided by the Trust Indenture
Act of 1939.


 


(c)            Every
Holder of Debt Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses
of Holders made pursuant to the Trust Indenture Act of 1939.


 


Section 6.03.          Reports
by the Company. The Company agrees to file with the Trustee and the Commission, and transmit to Holders, such information, documents
and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act of 1939 at the times and in the
manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission
pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, shall be filed with the Trustee within 15
days after the same is filed with the Commission; provided further that any such information, documents or reports filed with the
Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval (or EDGAR) system or any successor thereto shall be deemed
to have been filed and/or transmitted as required by this Section as of the date on which any such information, documents or reports
are filed for public availability with the Commission pursuant to EDGAR or any successor thereto (it being understood that the Trustee
shall have no responsibility for determining whether such filings or postings have been made). Delivery of such reports, information and
documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable from information contained therein, including the Company’s compliance
with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).


 


Section 6.04.          Reports
by the Trustee. (a)  The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture
as may be required pursuant to the Trust Indenture Act of 1939 at the times and in the manner provided pursuant thereto. The interval
between transmissions of reports to be transmitted at intervals shall be twelve months or such shorter time required by the Trust Indenture
Act of 1939. If the Trust Indenture Act of 1939 does not specify the date on which a report is due, such report shall be dated as of October 15,
and due on November 15 of each year, commencing in 2022.


 






    	 	29	 



     


    

 


(b)            A
copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which
Debt Securities of any series are listed, with the Commission and with the Company. The Company will notify the Trustee when the Debt
Securities of any series are listed on any stock exchange and of any delisting thereof.


 


Article 7.

Remedies of the Trustee and Holders

on Event of Default.


 


Section 7.01.          Events
of Default. “Event of Default”, with respect to any series of Debt Securities, wherever used herein, means any one of
the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by
operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body), unless such event is either inapplicable to such series or it is specifically deleted or modified in the Board
Resolution, Officers’ Certificate or supplemental indenture under which such series of Debt Securities is issued or in the form
of Debt Security for such series:


 


(a)            default
in the payment of any installment of interest upon any Debt Security of such series as and when the same shall become due and payable,
and continuance of such default for a period of 30 days;


 


(b)            default
in the payment of the principal of and premium, if any, on any Debt Security of such series as and when the same shall become due and
payable either at maturity, upon redemption, by declaration of acceleration or otherwise;


 


(c)            default
in the payment or satisfaction of any sinking fund payment or analogous obligation, if any, with respect to the Debt Securities of such
series as and when the same shall become due and payable by the terms of the Debt Securities of such series, and continuance of such default
for a period of 30 days;


 


(d)            failure
on the part of the Company duly to observe or perform any of the covenants, warranties or agreements on the part of the Company in respect
of the Debt Securities of such series in this Indenture (other than a covenant, warranty or agreement a default in whose performance or
whose breach is specifically dealt with elsewhere in this Section) continued for a period of 60 days after the date on which written notice
of such failure, stating that such notice is a “Notice of Default” hereunder, specifying such failure and requiring the same
to be remedied, shall have been given to the Company by the Trustee, by registered mail, or to the Company and the Trustee by the Holders
of at least 25% in aggregate principal amount of the Outstanding Debt Securities of such series;


 






    	 	30	 



     


    

 


(e)            a
decree or order by a court having jurisdiction in the premises shall have been entered adjudging the Company a bankrupt or insolvent,
or approving as properly filed a petition seeking reorganization of the Company under the Federal bankruptcy laws or any other similar
applicable Federal or state law, and such decree or order shall have continued undischarged and unstayed for a period of 90 days; or a
decree or order of a court having jurisdiction in the premises for the appointment of a receiver or liquidator or trustee or assignee
or other similar official in bankruptcy or insolvency of the Company or of all or substantially all of its property, or for the winding
up or liquidation of its affairs, shall have been entered, and such decree or order shall have continued undischarged and unstayed for
a period of 90 days;


 


(f)            the
Company shall institute proceedings to be adjudicated a voluntary bankrupt, or shall consent to the filing of a bankruptcy proceeding
against it, or shall file a petition or answer or consent seeking an arrangement or a reorganization under the Federal bankruptcy laws
or any other similar applicable Federal or state law, or shall consent to the filing of any such petition, or shall consent to the appointment
of a receiver or liquidator or trustee or assignee or other similar official in bankruptcy or insolvency of it or of all or substantially
all of its property, or shall make an assignment for the benefit of creditors generally, or shall admit in writing its inability to pay
its debts generally as they become due; or


 


(g)            any
other Event of Default provided in the Board Resolution, Officers’ Certificate or the supplemental indenture under which such series
of Debt Securities is issued or in the form of Debt Security for such series.


 


In each and every such case, so long as such Event
of Default with respect to any series of Debt Securities for which there are Debt Securities Outstanding occurs and is continuing (other
than an Event of Default specified in clause (e) or (f) of Section 7.01) and shall not have been remedied or waived to
the extent permitted by the terms of this Indenture, unless the principal of all of the Debt Securities of such series shall have already
become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Debt Securities
of such series, by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal (or, if the Debt
Securities of that series are Original Issue Discount Debt Securities, such portion of the principal amount as may be specified in the
terms of that series) of all the Debt Securities of such series and the interest accrued thereon to be due and payable immediately, and
upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Debt Securities
of such series contained to the contrary notwithstanding. If an Event of Default specified in clause (e) or (f) of Section 7.01
occurs and is continuing, then the principal amount of (or, if the Debt Securities of that series are Original Issue Discount Debt Securities,
such portion of the principal amount as may be specified in the terms thereof as due and payable upon acceleration) and any accrued and
unpaid interest on that series shall immediately become due and payable without any declaration or other act on the part of the Trustee
or any Holder. This provision, however, is subject to the condition that if, at any time after the principal of the Debt Securities of
such series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have
been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay in the
currency in which the Debt Securities of such series are payable all matured installments of interest upon all of the Debt Securities
and the principal of and premium, if any, on any and all Debt Securities of such series which shall have become due otherwise than by
such declaration (with interest on overdue installments of interest to the extent that payment of such interest is enforceable under applicable
law and on such principal and premium, if any, at the rate borne by the Debt Securities of such series or as otherwise provided in the
form of Debt Security for such series, to the date of such payment or deposit) and the expenses of the Trustee (subject to Section 8.06),
and any and all defaults under this Indenture, other than the nonpayment of principal of and accrued interest on Debt Securities of such
series which shall have become due by such declaration, shall have been cured or shall have been waived in accordance with Section 7.07
or provision deemed by the Trustee to be adequate shall have been made therefor — then and in every such case the Holders of at
least a majority in aggregate principal amount of the Debt Securities of such series then Outstanding, by written notice to the Company
and to the Trustee, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to
or shall affect any subsequent default, or shall impair any right consequent thereon.


 






    	 	31	 



     


    

 


In case the Trustee or any Holders shall have proceeded
to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and
annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the
Trustee and the Holders shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers
of the Company, the Trustee and the Holders shall continue as though no such proceeding had been taken.


 


Section 7.02.          Payment
of Debt Securities Upon Default; Suit Therefor. The Company covenants that (a) in case default shall be made in the payment of
any installment of interest upon any Debt Security of any series as and when the same shall become due and payable, and such default shall
have continued for a period of 30 days, or (b) in case default shall be made in the payment of the principal of and premium, if any,
on any Debt Security of any series as and when the same shall have become due and payable, whether at maturity of the Debt Security or
upon redemption or by declaration or otherwise or (c) in case default shall be made in the making or satisfaction of any sinking
fund payment or analogous obligation with respect to the Debt Securities of any series when the same becomes due by the terms of the Debt
Securities of any series, and such default shall have continued for a period of 30 days—then, upon demand of the Trustee, the Company
will pay to the Trustee, for the benefit of the Holders of any such series, the whole amount that then shall have become due and payable
on any such Debt Securities for principal and premium, if any, or interest, or both, as the case may be, with interest upon the overdue
principal and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue
installments of interest at the rate borne by the Debt Securities of such series or as otherwise provided in the form of Debt Security
of such series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including
a reasonable compensation to the Trustee, its agents, attorneys and counsel, and any expenses or liabilities incurred and advances made
by the Trustee, except compensation or advances arising, or expenses or liabilities incurred, as a result of the Trustee’s negligence,
willful misconduct or bad faith.


 


Until such demand is made by the Trustee, the Company
may pay the principal of and premium, if any, and interest on the Debt Securities of any series to the Persons entitled thereto, whether
or not the principal of and premium, if any, and interest on the Debt Securities of such series are overdue.


 






    	 	32	 



     


    

 


In case the Company shall fail forthwith to pay
such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute
any actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or
proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor on
such Debt Securities and collect, in the manner provided by law out of the property of the Company or any other obligor on such Debt Securities
wherever situated, the moneys adjudged or decreed to be payable. If any Event of Default with respect to any series of Debt Securities
occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of
Debt Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce
any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any
power granted herein, or to enforce any other proper remedy.


 


In case there shall be pending proceedings for
the bankruptcy or for the reorganization of the Company or any other obligor on the Debt Securities of any series under the Federal bankruptcy
laws or any other applicable law, or in case a receiver or trustee shall have been appointed for the property of the Company or such other
obligor, or in the case of any other similar judicial proceedings relative to the Company or other obligor upon the Debt Securities of
any series, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of
the Debt Securities of such series shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand pursuant to the provisions of this Section 7.02, shall be entitled and empowered
by intervention in such proceedings or otherwise, (a) to file and prove a claim or claims for the whole amount of principal and interest
owing and unpaid in respect of the Debt Securities of such series, and, in case of any judicial proceedings, to 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 of the Holders of the Debt
Securities of such series allowed in such judicial proceedings relative to the Company or any other obligor on such Debt Securities, its
or their creditors, or its or their property, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders
of any Debt Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or
other bankruptcy or insolvency proceedings or person performing similar functions in comparable proceedings, and (c) to collect and
receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction of its
charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders
of the Debt Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making
of such payments directly to such Holders, to pay to the Trustee such amount as shall be sufficient to cover reasonable compensation to
the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred and advances made by the Trustee except
compensation or advances arising, or expenses or liabilities incurred, as a result of the Trustee’s negligence, willful misconduct
or bad faith.


 


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 or reorganization, arrangement, adjustment
or composition affecting the Debt Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the
claim of any Holder (except, as aforesaid, for the election of a trustee in bankruptcy or other Person performing similar functions) in
any such proceeding.


 






    	 	33	 



     


    

 


All rights of action and of asserting claims under
this Indenture, or under any of the Debt Securities of any series, may be enforced by the Trustee without the possession of any of such
Debt Securities, or the production thereof on any trial or other proceeding relative thereto, and any such suit or proceeding instituted
by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall be for the ratable
benefit of the Holders of the Debt Securities of such series in respect of which such judgment has been recovered.


 


In any proceedings brought by the Trustee (and
also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee
shall be held to represent all the Holders of the Debt Securities in respect to which such action was taken, and it shall not be necessary
to make any Holders of such Debt Securities parties to any such proceedings.


 


Section 7.03.          Application
of Moneys Collected by Trustee. Any moneys collected by the Trustee pursuant to Section 7.02 and any other money or property
distributed in respect of the Company’s obligations under this Indenture after an Event of Default shall be applied in the order
following, at the date or dates fixed by the Trustee for the distribution of such moneys, upon presentation of the Debt Securities of
such series, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:


 


First:                    To
the Trustee for payment of amounts owed to the Trustee, including payment of all compensation agreed in writing between the Company and
the Trustee, and of all other expenses and liabilities incurred (including, in each case, reasonable attorneys’ fees and expenses),
and all advances made, by the Trustee, and the costs and expenses of collection (including, in each case, reasonable attorneys’
fees and expenses) except compensation or advances arising, or expenses or liabilities incurred, as a result of its negligence, willful
misconduct or bad faith, and any other amounts owing the Trustee under Section 8.06;


 


Second:          In
case the principal of the Debt Securities of such series shall not have become due and be unpaid, to the payment of interest on such Debt
Securities, in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been
collected by the Trustee) upon the overdue installments of interest at the rate borne by such Debt Securities, such payments to be made
ratably to the Persons entitled thereto;


 


Third:          In
case the principal of the Debt Securities of such series shall have become due, by declaration or otherwise, to the payment of the whole
amount then owing and unpaid upon such Debt Securities for principal and premium, if any, and interest, with interest on the overdue principal
and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest at
the rate borne by such Debt Securities; and in case such moneys shall be insufficient to pay in full the whole amounts so due and unpaid
upon such Debt Securities, then, to the payment of such principal and premium, if any, and interest without preference or priority of
principal and premium, if any, over interest, or of interest over principal and premium, if any, or of any installment of interest over
any other installment of interest, or of any Debt Security of such series over any other such Debt Security, ratably to the aggregate
of such principal and premium, if any, and accrued and unpaid interest;


 






    	 	34	 



     


    

 



 


Fourth:        To
the payment of any surplus then remaining to the Company, its successors or assigns, or to such party as a court of competent jurisdiction
shall direct.


 


Section 7.04.        Proceedings
by Holders. No Holder of any Debt Security of any series shall have any right by virtue of or by availing of any provision of
this Indenture to institute any suit, action or proceeding in equity or at law or in bankruptcy or otherwise upon or under or with
respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless such Holder
previously shall have given to the Trustee written notice of default and of the continuance thereof, as hereinbefore provided, and
unless also the Holders of not less than 25% in aggregate principal amount of the Debt Securities of such series then Outstanding
shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder
and shall have offered to the Trustee such indemnity, security or both as it may reasonably require against the costs, expenses and
other liabilities to be incurred therein or thereby, and the Trustee for 60 days after its receipt of such notice, request and offer
of indemnity, security or both, shall have neglected or refused to institute any such action, suit or proceeding (and no direction
inconsistent with such written request shall have been given to the Trustee pursuant to Section 7.07), it being understood and
intended, and being expressly covenanted by the taker and Holder of every Debt Security of every series with every other taker and
Holder and the Trustee, that no one or more Holders of Debt Securities shall have any right in any manner whatever by virtue of or
by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder of such Debt
Securities, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders of Debt
Securities.


 


Section 7.05.        Proceedings
by Trustee. In case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce its rights and
the rights of the Holders vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual
to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether
for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in
this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.


 


Section 7.06.        Remedies
Cumulative and Continuing. All powers and remedies given by this Article Seven to the Trustee or to the Holders shall, to the
extent permitted by law, be deemed cumulative and not exclusive of any thereof or of any other powers and remedies available to the Trustee
or the Holders, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained
in this Indenture, and no delay or omission of the Trustee or of any Holder to exercise any right or power accruing upon any default occurring
and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence
therein; and, subject to the provisions of Section 7.04, every power and remedy given by this Article Seven or by law to the
Trustee or to the Holders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders.


 






    	 	35	 



     


    

 


Section 7.07.        Direction
of Proceedings and Waiver of Defaults by Majority of Holders. The Holders of a majority in aggregate principal amount of the Outstanding
Debt Securities of any series shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available
to the Trustee, or exercising any trust or power conferred on the Trustee with respect to the Debt Securities by this Indenture; provided,
however, that (subject to the provisions of Section 8.01) the Trustee shall have the right to decline to follow any such direction
if the Trustee shall determine upon advice of counsel that the action or proceeding so directed may not lawfully be taken or would be
materially and unjustly prejudicial to the rights of Holders not joining in such direction or if the Trustee in good faith by its board
of directors or trustees, executive committee, or a trust committee of directors or trustees and/or Responsible Officers shall determine
that the action or proceeding so directed would involve the Trustee in personal liability or if the Trustee in good faith shall so determine
that the actions or forebearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of
the Debt Securities of all series not joining in the giving of said direction, it being understood that (subject to Section 8.01)
the Trustee shall have no duty to ascertain whether or not such actions or forebearances are duly prejudicial to such Holders. The Trustee
may take any other action deemed proper by the Trustee not inconsistent with such direction. Subject to Section 7.01, the Holders
of a majority in aggregate principal amount of the Outstanding Debt Securities of any series may on behalf of the Holders of all the Debt
Securities of such series waive any past default or Event of Default hereunder and its consequences except a default in the payment of
principal of or premium, if any, or interest on such Debt Securities, or a default in the making of any sinking fund payment with respect
to such Debt Securities. Upon any such waiver the Company, the Trustee and the Holders of such Debt Securities shall be restored to their
former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or Event of Default
or impair any right consequent thereon. Whenever any default or Event of Default shall have been waived as permitted by this Section 7.07,
said default or Event of Default shall for all purposes of the Debt Securities and this Indenture be deemed to have been cured and to
be not continuing.


 


This Section 7.07 shall be in lieu of Sections
316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act of 1939 and such Sections 316(a)(1)(A) and Section 316(a)(1)(B) are
hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act of 1939.


 


Section 7.08.        Notice
of Defaults. Within 90 days after the occurrence of any default hereunder with respect to the Debt Securities of any series, the Trustee
shall transmit first-class by mail, postage prepaid, to all Holders of Debt Securities of such series, as their names and addresses appear
in the Debt Security Register, notice of such default hereunder actually known to the Trustee, unless such default shall have been cured
or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest
on any Debt Security of such series or in the payment of any sinking fund installment with respect to Debt Securities of such series,
the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust
committee of directors or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interest
of the Holders of Debt Securities of such series; and provided, further, that in the case of any default of the character specified in
Section 7.01(d) with respect to Debt Securities of such series, no such notice to Holders shall be given until at least 60 days
after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice
or lapse of time or both would become, an Event of Default with respect to Debt Securities of such series.


 






    	 	36	 



     


    

 


Section 7.09.        Undertaking
to Pay 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, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to
pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the Trust
Indenture Act of 1939; provided that neither this Section nor the Trust Indenture Act of 1939 shall be deemed to authorize any court
to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Trustee, and any provision of
the Trust Indenture Act of 1939 to such effect is hereby expressly excluded from this Indenture, as permitted by the Trust Indenture Act
of 1939.


 


Section 7.10.        Unconditional
Right of Holders to Receive Principal, Premium and Interest. Notwithstanding any other provision in this Indenture, the Holder of
any Debt Security shall have the rights, which are absolute and unconditional, to receive payment of the principal of, premium, if any,
and (subject to Section 3.08) interest on such Debt Security on the respective Stated Maturities expressed in such Debt Security
(or in the case of redemption or repayment, on the date for redemption or repayment, as the case may be) and to institute suit for the
enforcement of any such payment on or after such respective dates or redemption date, and such rights shall not be impaired without the
consent of such Holder.


 


Article 8.

Concerning the Trustee.


 


Section 8.01.        Duties
and Responsibilities of Trustee


 


(a)            Except
during the continuance of an Event of Default, the Trustee undertakes to perform such duties and only such duties as are specifically
set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee.


 


(b)            Except
during the continuance of an Event of Default, 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; but in the case of any such certificates or opinions which by any provision thereof are specifically
required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated
therein).


 


(c)            In
case 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 his or her own affairs.


 






    	 	37	 



     


    

 


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


 


(1)            this
Subsection (d) shall not be construed to limit the effect of Subsections (a) or (b) of this Section 8.01;


 


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


 


(3)            the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction
of the Holders of a majority in principal amount of the Outstanding Securities of any series relating to the time, method and place of
conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under
this Indenture with respect to the Securities of such series.


 


(e)            No
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for
believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.


 


(f)            Whether
or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording
protection to the Trustee shall be subject to the provisions of this Section 8.01.


 


Section 8.02.        Reliance
on Documents, Opinions, etc. Subject to the provisions of Section 8.01,


 


(a)            the
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, bond, debenture, note or other paper document believed by it to be genuine and to have been signed
or presented by the proper party or parties;


 


(b)            any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by Company Request or Company Order
(unless otherwise evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be
evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;


 


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


 






    	 	38	 



     


    

 


(d)            the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders, pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or
indemnity satisfactory to the Trustee against the costs, expenses and liabilities which may be incurred by it in compliance with such
request or direction;


 


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


 


(f)            the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, approval, bond, debenture, note, or other paper or document, unless requested in writing
to do so by the Holders of not less than a majority in principal amount of such Debt Securities then Outstanding; provided, however,
that the reasonable expenses of every such investigation shall be paid by the Company or, if paid by the Trustee, shall be repaid by the
Company upon demand; and provided, further, that if the payment within a reasonable time to the Trustee of the costs, expenses
or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured
to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such
expenses or liabilities as a condition to so proceeding;


 


(g)            the
Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys,
and the Trustee shall not be liable or responsible for any misconduct (whether willful or unintentional), bad faith or negligence on the
part of any agent or attorney appointed with due care by it hereunder;


 


(h)            the
Trustee shall not be deemed to have notice or be charged with knowledge of any default or Event of Default unless written notice of such
default or Event of Default from the Company or any Holder is received by a Responsible Officer of the Trustee at the Corporate Trust
Office of the Trustee, and such notice references the Debt Securities and this Indenture;


 


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


 


(j)            the
permissive rights of the Trustee enumerated herein shall not be construed as duties.


 


(k)            in
no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or
damage and regardless of the form of action or inaction;


 


(l)            the
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder; and


 






    	 	39	 



     


    

 


(m)            the
Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture.


 


Section 8.03.        No
Responsibility for Recitals, etc. The recitals contained herein and in the Debt Securities (except in the Trustee’s certificate
of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the
same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Debt Securities of any series.
The Trustee represents that it is duly authorized to execute and deliver this Indenture and perform its obligations hereunder. Neither
the Trustee nor the Authenticating Agent shall be accountable for the use or application by the Company or any Debt Securities or the
proceeds of any Debt Securities authenticated and delivered by the Trustee in conformity with the provisions of this Indenture.


 


Section 8.04.        Trustee
and Agents May Own Debt Securities. The Trustee, any paying agent, or any agent of the Trustee or the Company under this Indenture,
in its individual or any other capacity, may become the owner or pledgee of Debt Securities of any series with the same rights it would
have if it were not Trustee or such agent and, subject to Sections 8.08 and 8.13, if operative, may otherwise deal with the Company and
receive, collect, hold, and retain collections from the Company with the same rights it would have if it were not the Trustee or such
agent.


 


Section 8.05.        Moneys
to be Held in Trust. Subject to the provisions of Section 13.04, all moneys received by the Trustee shall, until used or applied
as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except
to the extent required by law. Neither the Trustee nor any paying agent shall be under any liability for interest on, or to invest, any
moneys received by it hereunder except such as it may agree with the Company to pay thereon. So long as no Event of Default with respect
to the Debt Securities of any series shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from
time to time upon the receipt of a Company Order.


 


Section 8.06.        Compensation
and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled
to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express
trust), and the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred
or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and all persons not regularly in its employ and any amounts paid by the Trustee to any Authenticating
Agent pursuant to Section 8.14) except any such expense, disbursement or advance as may arise from its negligence, willful misconduct
or bad faith. The Company also covenants to indemnify the Trustee for, and to hold it harmless against, any loss, damage, claims, liability
or expense incurred without negligence, willful misconduct or bad faith on the part of the Trustee and arising out of or in connection
with this Indenture, including the acceptance or administration of this trust, or the performance of its duties hereunder, including the
current payment of all costs and expenses of defending itself against any claim of liability in the premises and the reasonable costs
and expenses of enforcing this Indenture against the Company (including this Section). The obligations of the Company under this Section 8.06
to compensate and indemnify the Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall constitute
additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Debt Securities upon all
property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Debt
Securities. In addition to, but without prejudice to its other rights under this indenture, when the Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 7.01(e) or Section 7.01(f), the expenses (including
the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration
under any applicable Federal or state bankruptcy, insolvency or other similar law.


 






    	 	40	 



     


    

 


“Trustee” for purposes of this Section shall
include any predecessor Trustee; provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall
not affect the rights of any other Trustee hereunder.


 


The provisions of this Section shall survive
the termination of this Indenture, the satisfaction and discharge of this Indenture and the resignation or removal of the Trustee.


 


Section 8.07.        Officers’
Certificate as Evidence. Subject to the provisions of Section 8.01, whenever in the administration of the provisions of this
Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence,
willful misconduct or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’
Certificate conforming to the requirements of this Indenture delivered to the Trustee, and such Certificate, in the absence of negligence,
willful misconduct or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it
under the provisions of this Indenture upon the reliance thereof.


 


Section 8.08.        Conflicting
Interest of Trustee. If the Trustee has or shall acquire any conflicting interest within the meaning of the Trust Indenture Act of
1939, the Trustee shall either eliminate such conflicting interest or resign in the manner provided by, and subject to the provisions
of, the Trust Indenture Act of 1939 and this Indenture.


 


Section 8.09.        Eligibility
of Trustee. There shall at all times be a Trustee with respect to each series of Debt Securities hereunder which shall be a Person
organized and doing business under the laws of the United States or any state or territory thereof or of the District of Columbia authorized
under such laws to exercise trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination
by Federal, state, territorial, or District of Columbia authority and willing to act as Trustee hereunder. If such Person publishes reports
of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section 8.09, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. In case at any time the Trustee with respect to any series of Debt Securities
shall cease to be eligible in accordance with the provisions of this Section 8.09, such Trustee shall resign immediately in the manner
and with the effect specified in Section 8.10.


 






    	 	41	 



     


    

 


Section 8.10.        Resignation
or Removal of Trustee. (a)  The Trustee may at any time resign with respect to any series of Debt Securities by giving written
notice by first class mail of such resignation to the Company and to the Holders of such series of Debt Securities at their addresses
as they shall appear on the Debt Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor
trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee with respect to
such series shall have been so appointed and have accepted appointment within 60 days after the mailing of such notice of resignation
to the Holders, the resigning Trustee may, at the expense of the Company, petition any court of competent jurisdiction for the appointment
of a successor trustee, or any Holder of such series of Debt Securities who has been a bona fide Holder of a Debt Security or Debt Securities
of such series for at least six months may, subject to the provisions of Section 7.09, on behalf of such Holder and all others similarly
situated, petition any such court for the appointment of a successor trustee with respect to such series. Such court may thereupon, after
such notice, if any, as it may deem proper and prescribe, appoint such successor trustee.


 


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


 


(1)            the
Trustee shall fail to comply with the provisions of Section 8.08 after written request therefor by the Company or by any Holder who
has been a bona fide Holder of a Debt Security or Debt Securities of such series for at least six months, unless the Trustee’s duty
to resign is stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act of 1939,


 


(2)            the
Trustee shall cease to be eligible in accordance with the provisions of Section 8.09 and shall fail to resign after written request
therefor by the Company or by any such Holder of a note of such series, or


 


(3)            the
Trustee shall become incapable of acting with respect to any series of Debt Securities, or shall be adjudged a bankrupt or insolvent,
or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee
or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;


 


then, in any such case, the Company may remove the Trustee with respect
to such series and appoint a successor trustee for such series by Company Order, one copy of which Company Order shall be delivered to
the Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 7.09, any Holder who has been
a bona fide Holder of a Debt Security or Debt Securities of such series for at least six months may, on behalf of such Holder and all
others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
trustee with respect to such series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove
such Trustee and appoint such successor trustee. In addition, the Company may remove the Trustee with respect to Debt Securities of any
series without cause and appoint a successor Trustee in accordance with this Section 8.10, if the Company gives written notice to
the Trustee of such proposed removal at least 90 calendar days in advance of the proposed effective date of such removal.


 






    	 	42	 



     


    

 


(c)            The
Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of any series may at any time remove the Trustee
with respect to such series by delivering to the Trustee so removed, to the successor trustee so appointed and to the Company the evidence
provided for in Section 9.01 of the action in that regard taken by the Holders, and nominate a successor Trustee which shall be deemed
appointed as successor Trustee unless within ten days after such nomination the Company objects thereto, in which case the Trustee so
removed or any Holder of a Debt Security or Debt Securities of such series, upon the terms and conditions and otherwise as in subsection
(a) of this Section 8.10 provided, may petition any court of competent jurisdiction for an appointment of a successor Trustee
with respect to such series.


 


(d)            Any
resignation or removal of the Trustee with respect to all or any series of Debt Securities and any appointment of a successor Trustee
pursuant to any of the provisions of this Section 8.10 shall become effective upon acceptance of appointment by the successor Trustee
as provided in Section 8.11.


 


Section 8.11.        Acceptance
by Successor Trustee. Any successor Trustee appointed as provided in Section 8.10 shall execute, acknowledge and deliver to the
Company and to its predecessor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of
the predecessor Trustee shall become effective with respect to all or any series as to which it is resigning as Trustee, and such successor
Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations of its predecessor
hereunder with respect to all or any such series, with like effect as if originally named as Trustee herein with respect to all or any
such series; nevertheless, on the written request of the Company or of the successor Trustee, the Trustee ceasing to act shall, upon payment
of any amounts then due it pursuant to the provisions of Section 8.06, execute and deliver an instrument transferring to such successor
Trustee all the rights and powers of the Trustee with respect to all or any such series so ceasing to act. Upon request of any such successor
Trustee, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor
Trustee all such rights and powers. Any Trustee ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected
by such Trustee with respect to all or any series as to which it is resigning as Trustee, to secure any amounts and shall be entitled
to any indemnities then due it pursuant to the provisions of Section 8.06.


 


No successor Trustee shall accept appointment as
provided in this Section 8.11 unless at the time of such acceptance such successor Trustee shall be qualified under the provisions
of Section 8.08 and eligible under the provisions of Section 8.09.


 


Upon acceptance of appointment by a successor Trustee
with respect to all or any series of Debt Securities as provided in this Section 8.11, the Company shall mail notice of the succession
of such Trustee hereunder to the Holders of Debt Securities of such series at their addresses as they shall appear on the Debt Security
Register. If the Company fails to mail such notice within ten days after acceptance of appointment by the successor Trustee, the successor
Trustee shall cause such notice to be mailed at the expense of the Company.


 






    	 	43	 



     


    

 


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


 


Section 8.12.        Succession
by Merger, etc. Subject to Sections 8.08 and 8.09, any Person into which the Trustee may be merged or converted or with which
it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or
any Person succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder
without the execution or filing of any paper or any further act on the part of any of the parties hereto.


 


In case at the time any successor to the Trustee
shall succeed to the trusts created by this Indenture any of the Debt Securities shall have been authenticated but not delivered, any
such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Debt Securities
so authenticated; and in case at that time any of the Debt Securities shall not have been authenticated, any successor to the Trustee
may authenticate such Debt Securities in the name of such successor Trustee; and in all such cases such certificate shall have the full
force which it is anywhere in the Debt Securities or in this Indenture provided that the certificate of the Trustee shall have.


 


Section 8.13.        Limitation
on Rights of Trustee as a Creditor. If and when the Trustee shall be or become a creditor of the Company (or any other obligor upon
the Debt Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act of 1939 regarding the collection of claims
against the Company (or any such other obligor).


 


Section 8.14.        Authenticating
Agents. There may be an Authenticating Agent or Authenticating Agents appointed by the Trustee from time to time with power to act
on its behalf and subject to its direction in the authentication and delivery of any series of Debt Securities issued upon original issuance,
exchange, transfer or redemption thereof as fully to all intents and purposes as though such Authenticating Agent (or Authenticating Agents)
had been expressly authorized to authenticate and deliver such Debt Securities, and Debt Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and obligatory for all purposes as though authenticated by the Trustee hereunder.
For all purposes of this Indenture, the authentication and delivery of Debt Securities by any Authenticating Agent pursuant to this Section 8.14
shall be deemed to be the authentication and delivery of such Debt Securities “by the Trustee”, and whenever this Indenture
provides that “the Trustee shall authenticate and deliver” Debt Securities or that Debt Securities “shall have been
authenticated and delivered by the Trustee”, such authentication and delivery by any Authenticating Agent shall be deemed to be
authentication and delivery by the Trustee. Any such Authenticating Agent shall at all times be a Person organized and doing business
under the laws of the United States of America or of any state or territory thereof or the District of Columbia, with a combined capital
and surplus of at least $50,000,000 and authorized under such laws to act as an authenticating agent, duly registered to act as such,
if and to the extent required by applicable law and subject to supervision or examination by Federal or state authority. If such Person
publishes reports of its condition at least annually pursuant to law or the requirements of such authority, then for the purposes of this
Section 8.14 the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section 8.14, or to be duly registered if and to the extent required by applicable law and regulations, it
shall resign immediately in the manner and with the effect herein specified in this Section 8.14.


 






    	 	44	 



     


    

 


Whenever reference is made in this Indenture to
the authentication and delivery of Debt Securities of any series by the Trustee or the Trustee’s certificate of authentication,
such reference shall be deemed to include authentication and delivery on behalf of the Trustee by its Authenticating Agent appointed with
respect to the Debt Securities of such series and a certificate of authentication executed on behalf of the Trustee by its Authenticating
Agent appointed with respect to the Debt Securities of such series.


 


Any Person into which any Authenticating Agent
may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, consolidation or conversion
to which any Authenticating Agent shall be a party, or any Person succeeding to the authenticating agency business of any Authenticating
Agent, shall be the successor of such Authenticating Agent hereunder, if such successor Person is otherwise eligible under this Section 8.14,
without the execution or filing of any paper or any further act on the part of the parties hereto or such Authenticating Agent or such
successor Person.


 


In case at the time such successor to any such
agency shall succeed to such agency any of the Debt Securities shall have been authenticated but not delivered, any such successor to
such Authenticating Agent may adopt the certificate of authentication of any predecessor Authenticating Agent and deliver such Debt Securities
so authenticated; and in case at that time any of the Debt Securities shall not have been authenticated, any successor to any Authenticating
Agent may authenticate such Debt Securities either in the name of any predecessor hereunder or in the name of the successor Authenticating
Agent; and in all cases such certificate shall have the full force which it has anywhere in the Debt Securities or in this Indenture provided
that the certificate of the predecessor Authenticating Agent shall have had such force; provided, however, that the right to adopt
the certificate of authentication of any predecessor Authenticating Agent or to authenticate Debt Securities in the name of any predecessor
Authenticating Agent shall apply only to its successor or successors by merger, conversion or consolidation.


 


Any Authenticating Agent may at any time resign
as Authenticating Agent with respect to any series of Debt Securities by giving written notice of resignation to the Trustee and to the
Company. The Trustee may at any time terminate the agency of any Authenticating Agent with respect to any series of Debt Securities by
giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon
such a termination, or in case at any time Authenticating Agent shall cease to be eligible under this Section 8.14, the Trustee may,
and shall, upon request of the Company, promptly use its best efforts to appoint a successor Authenticating Agent.


 






    	 	45	 



     


    

 


Upon the appointment, at any time after the original
issuance of any of the Debt Securities, of any successor, additional or new Authenticating Agent, the Trustee shall give written notice
of such appointment to the Company and shall at the expense of the Company mail notice of such appointment to all Holders of Debt Securities
of such series as the names and addresses of such Holders appear on the Debt Security Register.


 


Any successor Authenticating Agent with respect
to any series of Debt Securities upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties
of its predecessor hereunder, with like effect as though originally named as an Authenticating Agent herein with respect to such series.
No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 8.14 and duly registered
if and to the extent required under applicable law and regulations.


 


Any Authenticating Agent by the acceptance of its
appointment with respect to any series of Debt Securities shall be deemed to have agreed with the Trustee that: (a) it will perform
and carry out the duties of an Authenticating Agent as herein set forth with respect to such series, including the duties to authenticate
and deliver Debt Securities when presented to it in connection with exchanges, registrations of transfer or redemptions thereof; (b) it
will keep and maintain, and furnish to the Trustee from time to time as requested by the Trustee appropriate records of all transactions
carried out by it as Authenticating Agent and will furnish the Trustee such other information and reports as the Trustee may reasonably
require; (c) it is eligible for appointment as Authenticating Agent under this Section 8.14 and will notify the Trustee promptly
if it shall cease to be so qualified; and (d) it will indemnify the Trustee against any loss, liability or expense incurred by the
Trustee and will defend any claim asserted against the Trustee by reason of any acts or failures to act of the Authenticating Agent with
respect to such series but it shall have no liability for any action taken by it at the specific written direction of the Trustee.


 


The Company agrees to pay to each Authenticating
Agent from time to time reasonable compensation and expenses for its services, and the Trustee shall have no liability for such payments.


 


The provisions of Sections 8.02(a), (b), (c), (e) and
(f), 8.03, 8.04, 8.06 (insofar as it pertains to indemnification), 9.01, 9.02 and 9.03 shall bind and inure to the benefit of each Authenticating
Agent to the same extent that they bind and inure to the benefit of the Trustee.


 






    	 	46	 



     


    

 


If an appointment with respect to one or more series
is made pursuant to this Section 8.14, the Debt Securities of such series may have endorsed thereon, in addition to the Trustee’s
certificate of authentication, an alternate certificate of authentication in the following form:


 


This is one of the Debt Securities of the series designated herein
issued under the within-mentioned Indenture.


 


	
    __________________________________________________________,

    As Trustee
	 	
    ____________________________________________________________,

    As Trustee

	 	 	 
	-OR-	 	 
	 	 	 
	By:  	 	By:  ________________________________________________________,
	Authorized Officer	 	as Authenticating Agent
	 	 	 
	 	 	By:  
	 	 	Authorized Officer 


 


Section 8.15.        Trustee's
Application for Instructions from the Company. Any application by the Trustee for written instructions from the Company may, at the
option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date
on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken
by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application
(which date shall not be less than three Business Days after the date any officer of the Company actually receives such application, unless
any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in
the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to
be taken or omitted.


 


Article 9.

Concerning the Holders.


 


Section 9.01.        Action
by Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage in aggregate principal amount of
the Debt Securities of any series may take any action (including the making of any demand or request, the giving of any notice, consent
or waiver or the taking of any other action) the fact that at the time of taking any such action the Holders of such specified percentage
of such series have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed
by Holders of such series in person or by agent or proxy appointed in writing, or (b) by the record of the Holders of such series
voting in favor thereof at any meeting of such Holders duly called and held in accordance with the provisions of Article Ten, or
(c) by a combination of such instrument or instruments and any such record of such a meeting of Holders of such series.


 


Section 9.02.        Proof
of Execution by Holders. Subject to the provisions of Sections 8.01, 8.02 and 10.05, proof of the execution of any instrument by a
Holder or such Holder’s agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations
as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The ownership of Debt Securities shall
be provided by the Debt Security Register or by a certificate of the Debt Security Registrar with respect to a series of Debt Securities.


 






    	 	47	 



     


    

 


The record of any Holders’ meeting shall
be proved in the manner provided in Section 10.06.


 


Section 9.03.        Who
Are Deemed Absolute Owners. The Company, the Trustee with respect to a series of Debt Securities, and any agent of the Trustee or
the Company under this Indenture may deem the Person in whose name such Debt Security shall be registered upon the Debt Security Register
to be, and may treat such Person as, the absolute owner of such Debt Security (whether or not such Debt Security shall be overdue and
notwithstanding any notation of ownership or other writing thereon made by anyone other than the Company, the Trustee or any such agent)
for the purpose of receiving payment of or on account of the principal of and premium, if any, and interest on such Debt Security and
for all other purposes; and neither the Company nor the Trustee nor any such agent shall be affected by any notice to the contrary. All
such payments so made to any Holder for the time being or upon such Holder’s order shall, to the extent of the sum or sums so paid,
be effectual to satisfy and discharge the liability for moneys payable upon any such Debt Security.


 


Section 9.04.        Company-Owned
Debt Securities Disregarded. In determining whether the Holders of the requisite aggregate principal amount of Debt Securities of
any series have concurred in any direction or consent under this Indenture, Debt Securities of such series which are owned by the Company
or any other obligor upon such Debt Securities or any Affiliate of the Company or such other obligor (except in the case in which the
Company or such other obligor or affiliate owns all Debt Securities Outstanding under the Indenture, or all Outstanding Debt Securities
of each such series, as the case may be, without regard to this proviso) shall be disregarded and deemed not to be Outstanding for the
purpose of any such determinations; provided, however, that for the purposes of determining whether the Trustee shall be
protected in relying on any such direction or consent only such Debt Securities which a Responsible Officer of the Trustee actually knows
are so owned shall be so disregarded. Debt Securities so owned which have been pledged in good faith may be regarded as Outstanding notwithstanding
this Section 9.04 if the pledgee shall establish to the satisfaction of the Trustee the right of the pledgee to vote such Debt Securities
and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company or any such other obligor. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officers’
Certificate listing and identifying all Debt Securities of a series, if any, known by the Company to be owned or held by or for the account
of the Company or any other obligor on such Debt Securities or by any Person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Company or any other obligor on such Debt Securities; and, subject to the provisions of Section 8.01,
the Trustee shall be entitled to accept such Officers’ Certificates as conclusive evidence of the facts therein set forth and of
the fact that all such Debt Securities not listed therein are Outstanding for the purpose of any such determination.


 


Section 9.05.        Revocation
of Consents; Future Holders Bound. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 9.01,
of the taking of any action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any series specified
in this Indenture in connection with such action, any Holder of a Debt Security which is shown by the evidence to be included in the Debt
Securities the Holders of which have consented to or are bound by consents to such action, may, by filing written notice with the Trustee
at the Corporate Trust Office and upon proof of holding as provided in Section 9.02, revoke such action so far as concerns such Debt
Security. Except as aforesaid any such action taken by the Holder of any Debt Security shall be conclusive and binding upon such Holder
and upon all future Holders and owners of such Debt Security and of any Debt Security issued on transfer thereof or in exchange or substitution
therefor, irrespective of whether or not any notation in regard thereto is made upon any such Debt Security. Any action taken by the Holders
of the percentage in aggregate principal amount of the Debt Securities specified in this Indenture in connection with such action shall
be conclusively binding upon the Company, the Trustee and the Holders of all of the Debt Securities affected by such action.


 


SECTION 9.06         Record Dates.
If the Company shall solicit from the Holders of Debt Securities any request, demand, authorization, direction, notice, consent, waiver
or other action, the Company may, at its option, in or pursuant to a Board Resolution, fix in advance a record date for the determination
of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall
have no obligation to do so. Such record date shall be the record date specified in or pursuant to such Board Resolution, which shall
be a date not earlier than the date 30 days prior to the first solicitation of Holders generally in connection therewith and not later
than the date such solicitation is completed. If such a record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other action may be given before or after such record date, but only the Holders of record at the close of business
on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding
Debt Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other
action, and for that purpose the Outstanding Debt Securities shall be computed as of such record date; provided that
no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than eleven months after the record date. 


 






    	 	48	 



     


    

 


Article 10.

Holders’ Meetings.


 


Section 10.01.        Purposes
of Meetings. A meeting of Holders of the Debt Securities of all or any series may be called at any time and from time to time pursuant
to the provisions of this Article Ten for any of the following purposes:


 


(a)            to
give any notice to the Company or to the Trustee with respect to such series, or to give any directions to the Trustee, or to consent
to the waiving of any default hereunder and its consequences, or to take any other action authorized to be taken by Holders pursuant to
any of the provisions of Article Seven;


 


(b)            to
remove the Trustee and nominate a successor trustee pursuant to the provisions of Article Eight;


 


(c)            to
consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of Section 11.02; or


 


(d)            to
take any other action authorized to be taken by or on behalf of the Holders of any specified aggregate principal amount of the Debt Securities
of all or any series, as the case may be, under any other provision of this Indenture or under applicable law.


 


Section 10.02.        Call
of Meetings by Trustee. The Trustee may at any time call a meeting of Holders of Debt Securities of all or any series to take any
action specified in Section 10.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting
of the Holders of Debt Securities of all or any series, setting forth the time and place of such meeting and in general terms the action
proposed to be taken at such meeting, shall be mailed by the Trustee to Holders of Debt Securities of each series that may be affected
by the action proposed to be taken at such meeting at their addresses as they shall appear on the Debt Security Register. Such notice
shall be mailed not less than 20 nor more than 90 days prior to the date fixed for the meeting.


 






    	 	49	 



     


    

 



 


Section 10.03.            Call
of Meetings by Company or Holders. In case at any time the Company, pursuant to a resolution by the Board of Directors, or the Holders
of at least 10% in aggregate principal amount of the Debt Securities then Outstanding of each series that may be affected by the action
proposed to be taken shall have requested the Trustee to call a meeting of such Holders, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed the notice of such meeting within 20 days
after receipt of such request, then the Company or such Holders may determine the time and place for such meeting and may call such meeting
to take any action authorized in Section 10.01, by mailing notice thereof as provided in Section 10.02.


 


Section 10.04.            Qualifications
for Voting. To be entitled to vote at any meeting of Holders of Debt Securities a person shall (a) be a Holder of one or more
Debt Securities of a series affected by the action proposed to be taken or (b) be a Person appointed by an instrument in writing
as proxy by a Holder of one or more such Debt Securities. The rights of Holders of Debt Securities to have their votes counted shall be
subject to the provisions in the definition of “Outstanding” in Section 1.01. The only Persons who shall be entitled
to be present or to speak at any meeting of Holders of Debt Securities shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.


 


Section 10.05.            Regulations.
Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for
any meeting of Holders of Debt Securities, in regard to proof of the holding of Debt Securities and of the appointment of proxies, and
in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence
of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. Except as otherwise permitted
or required by any such regulation, the holding of Debt Securities shall be proved in the manner specified in Section 9.02 and the
appointment of any proxy shall be proved in the manner specified in said Section 9.02 or by having the signature of the Person executing
the proxy witnessed or guaranteed by any bank, broker or trust company.


 


The Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of Debt Securities
as provided in Section 10.03, in which case the Company or the Holders of Debt Securities calling the meeting, as the case may be,
shall in like manner appoint a temporary chairman. A permanent chairman and a secretary of the meeting shall be elected by vote of the
Holders of a majority in aggregate principal amount of the Debt Securities represented at the meeting and entitled to vote.


 


Subject to the provisions of Section 9.04,
at any meeting each Holder of a Debt Security of a series entitled to vote at such meeting or proxy shall be entitled to one vote for
each $1,000 principal amount of Debt Securities of such series held or represented by such Holder; provided, however, that
no vote shall be cast or counted at any meeting in respect of any Debt Security challenged as not Outstanding and ruled by the chairman
of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote except as a Holder of Debt Securities of
such series or proxy therefor. Any meeting of Holders of Debt Securities duly called pursuant to the provisions of Section 10.02
or 10.03 may be adjourned from time to time and the meeting may be held as so adjourned without further notice.


 






    	 	50	 



     


    

 


At any meeting of Holders of Debt Securities, the
presence of Persons holding or representing Debt Securities in an aggregate principal amount sufficient to take action upon the business
for the transaction of which such meeting was called shall be necessary to constitute a quorum; but, if less than quorum be present, the
Persons holding or representing a majority of the Debt Securities represented at the meeting may adjourn such meeting with the same effect,
for all intents and purposes, as though a quorum had been present.


 


Section 10.06.             Voting.
The vote upon any resolution submitted to any meeting of Holders of Debt Securities shall be by written ballots on which shall be subscribed
the signatures of the Holders of Debt Securities entitled to vote at such meeting or of their representatives by proxy, and the letter
or letters, serial number or numbers or other distinguishing marks of the Debt Securities held or represented by each such Holder. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any
resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast
at the meeting. A record in duplicate of the proceedings of each meeting of Holders of Debt Securities shall be prepared by the secretary
of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken
thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing
that said notice was mailed as provided in Section 10.02. The record shall be signed and verified by the affidavits of the permanent
chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved
by the Trustee, the latter to have attached thereto the ballots voted at the meeting.


 


Any record so signed and verified shall be conclusive
evidence of the matters therein stated.


 


Section 10.07.             No
Delay of Rights by Meeting. Nothing in this Article Ten contained shall be deemed or construed to authorize or permit, by reason
of any call of a meeting of Holders of Debt Securities of any or all series or any rights expressly or impliedly conferred hereunder to
make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders
of Debt Securities under any of the provisions of this Indenture or of the Debt Securities.


 


Article 11.

Supplemental Indentures.


 


Section 11.01.              Supplemental
Indentures without Consent of Holders. The Company, when authorized by a Board Resolution, and the Trustee may from time to time and
at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act
of 1939 as in force at the date of the execution thereof) for one or more of the following purposes:


 


(a)          to
evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor Person of the
covenants, agreements and obligations of the Company pursuant to Articles Five and Twelve hereof;


 






    	 	51	 



     


    

 


(b)          to
add to the covenants of the Company such further covenants, restrictions, conditions or provisions as the Board of Directors shall consider
to be for the protection of the Holders of Debt Securities of any or all series, and to make the occurrence, or the occurrence and continuance,
of a default in any of such additional covenants, restrictions, conditions or provisions a default or an Event of Default with respect
to such series permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided,
however, that in respect of any such additional covenant, restriction or condition, such supplemental indenture may provide for
a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or
may provide for an immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default;


 


(c)          to
cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective
or inconsistent with any other provision contained herein or in any supplemental indenture or to make any changes hereto that are required
by law;


 


(d)          to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee;


 


(e)          to
make such other provisions, changes, additions or deletions in regard to matters or questions arising under this Indenture as shall not
adversely affect the interests of the Holders of the Debt Securities in any material respect (for the avoidance of doubt, any amendment
or supplement pursuant to this clause (e) made solely to conform this Indenture to the final offering memorandum provided to investors
in connection with the offering of the Debt Securities by the Company will not be deemed to materially and adversely affect the interests
of the Holders of Debt Securities of any series);


 


(f)           to
evidence and provide for the acceptance of appointment by another Person as a successor Trustee hereunder with respect to one or more
series of Debt Securities and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, pursuant to Section 8.11;


 


(g)          to
modify, amend or supplement this Indenture in such a manner as to permit the qualification of any indenture supplemental hereto under
the Trust Indenture Act of 1939 as then in effect, except that nothing herein contained shall permit or authorize the inclusion in any
indenture supplemental hereto of the provisions referred to in Section 316(a)(2) of the Trust Indenture Act of 1939;


 


(h)          to
provide for the issuance under this Indenture of Debt Securities in coupon form (including Debt Securities registrable as to principal
only) and to provide for exchangeability of such Debt Securities with Debt Securities of the same series issued hereunder in fully registered
form and to make all appropriate changes for such purpose;


 


(i)           to
change or eliminate any of the provisions of this Indenture, provided, however, that any such change or elimination shall
become effective only when there is no Debt Security Outstanding of any series created prior to the execution of such supplemental indenture
which is entitled to the benefit of such provision; or


 






    	 	52	 



     


    

 


(j)           to
establish any additional form of Debt Security, as permitted by Section 2.02, and to provide for the issuance of any additional series
of Debt Securities, as permitted by Section 3.01, and to set forth the terms thereof.


 


The Trustee shall join with the Company in the
execution of any such supplemental indenture, to make any further appropriate agreements and stipulations which may be therein contained
and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated
to enter into any such supplemental indenture which affects the Trustee’s own rights, duties, benefits, privileges, protections,
indemnities or immunities under this Indenture or otherwise.


 


Any supplemental indenture authorized by the provisions
of this Section 11.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Debt Securities
at the time Outstanding, notwithstanding any of the provisions of Section 11.02.


 


Section 11.02.            Supplemental
Indentures with Consent of Holders. With the written consent (evidenced as provided in Section 9.01) of the Holders of
greater than 50% in aggregate principal amount of the Outstanding Debt Securities of each series affected by such supplemental
indenture (all such Holders voting as a single class), by act of said Holders delivered to the Company and the Trustee, the Company,
when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Debt Securities of
each series under this Indenture; provided, however, that no such supplemental indenture shall, without the written
consent of the Holders of all of the Outstanding Debt Securities of each series directly and adversely affected thereby,
(a) extend the fixed maturity of any Debt Security of such series, or reduce the rate or extend the time of payment of interest
thereon, or reduce the principal amount thereof or any premium thereon, or make the principal thereof or interest or premium thereon
payable in any coin or currency other than that provided in the Debt Securities of such series, or change any place of payment
where, or the currency in which, any Debt Security or any premium or interest thereon is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption or repayment at
the option of the Holder, on or after the Redemption Date) or (b) reduce the aforesaid percentage of Debt Securities of a
series, the Holders of which are required to consent (1) to any such supplemental indenture, (2) to rescind and annul a
declaration that any Debt Securities of such series are due and payable as a result of the occurrence of an Event of Default,
(3) to waive any past default under the Indenture and its consequences or (4) to waive compliance with Sections 5.02, 5.04
(other than 5.04(a)(1) and (2)) or 5.05, or with any additional covenant, agreement or condition contained in a Board
Resolution or Officers’ Certificate establishing such series of Debt Securities, any indenture supplemental hereto applicable
to such series or any Debt Security of such series.


 






    	 	53	 



     


    

 


Upon the Trustee’s receipt of a Company Request,
accompanied by a copy of a Board Resolution certified by its Secretary or Assistant Secretary authorizing the execution of any such supplemental
indenture, and upon the filing with the Trustee of evidence of the consent of Holders of Debt Securities as aforesaid, the Trustee shall
join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own
rights, duties, benefits, privileges, protections, indemnities or immunities under this Indenture or otherwise, in which case the Trustee
may in its discretion, but shall not be obligated to, enter into such supplemental indenture.


 


It shall not be necessary for the consent of the
Holders of Debt Securities under this Section 11.02 to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such consent shall approve the substance thereof.


 


Section 11.03.             Effect
of Supplemental Indentures. Upon the execution of any supplemental indenture pursuant to the provisions of this Article Eleven,
this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitation of rights,
obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders of Debt Securities shall thereafter
be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.


 


Section 11.04.             Notation
on Debt Securities. Debt Securities authenticated and delivered after the execution of any supplemental indenture pursuant to the
provisions of this Article Eleven may bear a notation in form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company or the Trustee shall so determine, new Debt Securities of any series so modified as to conform, in the opinion
of the Trustee and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared
and executed by the Company, authenticated by the Trustee and delivered in exchange for the Outstanding Debt Securities of such series.


 


Section 11.05.             Evidence
of Compliance of Supplemental Indenture to be Furnished Trustee. The Trustee, subject to the provisions of Sections 8.01 and 8.02,
shall receive, and shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel as conclusive evidence
that the execution of such amendment or supplemental indenture is authorized or permitted by this Indenture (including, but not limited
to this Article Eleven), that all conditions precedent thereto have been met or waived, that such amendment or supplemental indenture
is not inconsistent herewith, and that it will be valid and binding upon the Company in accordance with its terms.


 






    	 	54	 



     


    

 


Article 12.

Consolidation, Merger, Sale and Conveyance.


 


Section 12.01.             Company
May Consolidate, etc., on Certain Terms. Nothing contained in this Indenture or in any of the Debt Securities shall prevent
any consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company), or successive consolidations
or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance (excluding
any pledge) or lease of all or substantially all of the property of the Company to any other Person (whether or not affiliated with the
Company) authorized to acquire and operate the same; provided, however, and the Company hereby covenants and agrees, that any such consolidation,
merger, sale, conveyance or lease shall be upon the condition that (a) immediately after such consolidation, merger, sale, conveyance
or lease the Person (whether the Company or such other Person) formed by or surviving any such consolidation or merger, or to which such
sale, conveyance or lease shall have been made, shall not be in default in the performance or observance of any of the terms, covenants
and conditions of this Indenture to be kept or performed by the Company; (b) the Person (if other than the Company) formed by or
surviving any such consolidation or merger or to which such sale, conveyance or lease shall have been made, shall be a Person organized
under the laws of the United States of America or any state thereof; and (c) the due and punctual payment of the principal of and
premium, if any, and interest on all of the Debt Securities, according to their tenor, and the due and punctual performance and observance
of all of the covenants and conditions of this Indenture to be performed or observed by the Company, shall be expressly assumed, by supplemental
indenture satisfactory in form to the Trustee, executed and delivered to the Trustee by the Person (if other than the Company) formed
by such consolidation, or into which the Company shall have been merged, or by the Person which shall have acquired or leased such property.


 


Section 12.02.            Successor
Entity to be Substituted. In case of any such consolidation, merger, sale, conveyance (excluding any pledge) or lease and upon the
assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee,
of the due and punctual payment of the principal of and premium, if any, and interest on all of the Debt Securities and the due and punctual
performance and observance of all of the covenants and conditions of this Indenture to performed or observed by the Company, such successor
Person shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of the first
part, and (except in the event of a conveyance by way of lease) the predecessor Person shall be relieved of any further obligation under
this Indenture and the Debt Securities.


 


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


 


Section 12.03.            Opinion
of Counsel to Be Given to Trustee. The Trustee, subject to Sections 8.01 and 8.02, shall receive an Opinion of Counsel as conclusive
evidence that any such consolidation, merger, sale conveyance or lease and any such assumption complies with the provisions of this Article Twelve
and that all conditions precedent herein provided relating to such transactions have been complied with.


 






    	 	55	 



     


    

 


Article 13.

Satisfaction and Discharge of Indenture.


 


Section 13.01.            Satisfaction,
Discharge and Defeasance of Debt Securities of any Series. The Company shall be deemed to have paid and discharged the entire indebtedness
on all the Debt Securities of a series, the provisions of this Indenture (except as to (x) the rights of Holders of Debt Securities
of such series to receive, from the money, in the currency required, and Government Obligations deposited with the Trustee pursuant to
Section 13.02(a) or the interest and principal received by the Trustee in respect of such Government Obligations, payment of
the principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt Securities on
the Stated Maturities thereof or upon the Redemption Dates for Debt Securities required to be redeemed pursuant to any mandatory sinking
fund or analogous provisions relating to Debt Securities of that series or pursuant to any call for redemption relating to Debt Securities
of that series, (y) the Company’s rights and obligations with respect to such Debt Securities under Sections 3.06, 3.07, 13.03
and 13.04, 5.02, 5.04, 6.01, 8.06, 8.10, 8.11 and, to the extent applicable to such series, Article Four, so long as the principal
of (and premium, if any) and interest on the Debt Securities of such series remain unpaid and, thereafter, only the Company’s rights
and obligations under Sections 5.04, 8.06, 13.03 and 13.04, and (z) the rights, powers, trusts, duties, indemnities and immunities
of the Trustee with respect to the Debt Securities of such series) as it relates to such Debt Securities shall no longer be in effect,
and the Trustee, at the expense of the Company, shall, upon Company Request, execute proper instruments acknowledging the same if:


 


(a)           (1) 
all Debt Securities of such series theretofore authenticated and delivered (other than (A) Debt Securities which have been destroyed,
lost or stolen and which have been replaced or paid as provided in Section 3.07 and (B) Debt Securities for whose payment money
has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged
from such trust, as provided in Sections 13.03 and 13.04) have been delivered to the Trustee for cancellation;


 


(2)           the
Company has paid or caused to be paid in the currency required all other sums payable under this Indenture in respect of the Debt Securities
of such series; and


 


(3)           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 of the entire indebtedness of all Debt Securities of any such series and the discharge
of the Indenture as it relates to such Debt Securities have been complied with; or


 


(b)           (1) 
all Debt Securities of such series not theretofore delivered to the Trustee for cancellation (A) have become due and payable, or
(B) will become due and payable at their Stated Maturity within one year, or (C) 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;


 


(2)           the
condition described in paragraph (a) of Section 13.02 has been satisfied; and


 


(3)           the
conditions described in paragraphs (a)(2) and (a)(3) of this Section 13.01 have been satisfied; or


 


(c)           (1) the
conditions referred to in paragraphs (b)(2) and (b)(3) of this Section 13.01 have been satisfied;


 


(2)           no
Event of Default or event which with notice or lapse of time would become an Event of Default shall have occurred and be continuing on
the date of the deposit referred to in paragraph (a) of Section 13.02 or on the ninety-first day after the date of such deposit;
provided, however, that should that condition fail to be satisfied on or before such ninety-first day, the Trustee shall
promptly, upon satisfactory receipt of evidence of such failure, return such deposit to the Company;


 






    	 	56	 



     


    

 


(3)          the
Company has either (A) delivered to the Trustee an opinion of counsel of a nationally-recognized independent tax counsel to the effect
that Holders of the Debt Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result
of such deposit and the satisfaction, discharge and defeasance contemplated by this paragraph (c) of this Section 13.01 and
will be subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the case if
such deposit and defeasance had not occurred or (B) the Company shall have received from, or there shall have been published by,
the United States Internal Revenue Service a ruling to the effect stated in subsection (A) of this Section 13.01(c)(3); and


 


(4)          the
Company has received an Opinion of Counsel to the effect that the satisfaction, discharge and defeasance contemplated by this Section 13.01
will not result in the delisting of the Debt Securities of that series from any nationally-recognized securities exchange on which they
are listed.


 


Section 13.02.           Defeasance
of Debt Securities of any Series. The provisions of this Indenture (except as to (x) the rights of Holders of Debt Securities
of any series to receive, from the money, in the currency required, and Government Obligations deposited with the Trustee pursuant to
paragraph (a) below or the interest and principal received by the Trustee in respect of such Government Obligations, payment of the
principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt Securities on the
Stated Maturities thereof or upon the Redemption Dates for Debt Securities required to be redeemed pursuant to any mandatory sinking or
analogous provisions relating to Debt Securities of that series or pursuant to any call for redemption relating to Debt Securities of
that series, (y) the Company’s rights and obligations with respect to such Debt Securities under Sections 3.06, 3.07, 13.03,
13.04, Article Seven (other than subsection (d) of Section 7.01), Sections 5.01, 5.02, 5.04, 6.01, 8.06, 8.10, 8.11 and,
to the extent applicable to such series, Article Four, so long as the principal of (and premium, if any) and interest on the Debt
Securities of such series remain unpaid and, thereafter, only the Company’s rights and obligations under Sections 5.04, 8.06, 13.03
and 13.04, and (z) the rights, powers, trusts, duties, indemnities and immunities of the Trustee with respect to the Debt Securities
of such series) as it relates to Debt Securities of any series shall no longer be in effect, and the Trustee, at the expense of the Company
shall, upon Company Request, execute proper instruments acknowledging the same if:


 


(a)          the
Company has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose (1) Dollars or
Foreign Currency, as applicable based on the denomination of such series of Debt Securities, in an amount, or (2) Government Obligations which through the payment of interest and
principal in respect thereof in accordance with their terms will provide on or before the due date of any payment in respect of such
series of Debt Securities in an amount, or (3) a combination thereof, sufficient, after payment of all Federal, state and local
taxes in respect thereof payable by the Trustee, in the opinion of a nationally-recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge (A) the principal of (and premium,
if any) and each installment of principal (and premium, if any) and interest on the Outstanding Debt Securities of that series on
the Stated Maturity of such principal or installment of principal or interest and (B) any mandatory sinking fund payments or
analogous payments or payments pursuant to any call for redemption applicable to Debt Securities of such series on the day on which
such payments are due and payable in accordance with the terms of the Indenture and such Debt Securities;


 






    	 	57	 



     


    

 


(b)          no
Event of Default or event which with notice or lapse of time would become an Event of Default shall have occurred and be continuing on
the date of such deposit;


 


(c)          the
interest of the Holders in such deposit shall have been duly perfected under the applicable provisions of the Uniform Commercial Code;
and


 


(d)          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 defeasance contemplated by this Section have been complied with.


 


Section 13.03.            Application
of Trust Funds; Indemnification. (a)  Subject to the provisions of Section 13.04, all money and Government Obligations deposited
with the Trustee pursuant to Section 13.01 or 13.02 and all money received by the Trustee in respect of Government Obligations deposited
with the Trustee, shall be held in trust and applied by it, in accordance with the provisions of the Debt 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 premium, if any) and interest for whose payment such money and Government
Obligations have been deposited with or received by the Trustee as contemplated by Section 13.01 or 13.02.


 


(b)          The
Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against Government Obligations
deposited pursuant to Section 13.01 or 13.02 or the interest and principal received in respect of such obligations, other than any
such tax, fee or other charge payable by or on behalf of Holders. The Company shall be entitled to prompt notice of an assessment or the
commencement of any proceeding for which indemnification may be sought hereunder and, at its election, to contest such assessment or to
participate in, assume the defense of, or settle such proceeding.


 


(c)          The
Trustee shall deliver or pay to the Company from time to time upon Company Request any Government Obligations or money held by it as provided
in Section 13.01 or 13.02 which, in the opinion of a nationally-recognized firm of independent 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 obligations or money were deposited or received.


 


(d)          If
the Trustee is unable to apply any money or Government Obligations in accordance with this Section 13.03 by reason of any legal proceeding
or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,
the Company’s obligations under this Indenture and the Debt Securities, if any, of such series shall be revived and reinstated as
though no deposit had occurred pursuant to Section 13.01 or Section 13.02, as the case may be, until such time as the Trustee
is permitted to apply all such money or Government Obligations in accordance with this Section 13.03; provided, however, that if
the Company has made any payment of interest on or principal of (and premium, if any) on any Debt Securities, if any, of such series because
of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such series of Debt Securities,
if any, to receive such payment from the money or Government Obligations held by the Trustee.


 






    	 	58	 



     


    

 


Section 13.04.            Return
of Unclaimed Moneys. Any moneys deposited with or paid to the Trustee or any paying agent for payment of the principal of and premium,
if any, or interest on Debt Securities and not applied but remaining unclaimed by the Holders of Debt Securities for two years after the
date upon which the principal of and premium, if any, or interest on such Debt Securities, as the case may be, shall have become due and
payable, shall be repaid to the Company by the Trustee or such paying agent on demand; and the Holder of any of the Debt Securities entitled
to receive such payment shall thereafter look only to the Company for any payment thereof.


 


Section 13.05.           Reinstatement.
If the Trustee is unable to apply any money or Government Obligations in accordance with Sections 13.01 or 13.02 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s obligations under this Indenture and the Debt Securities shall be revived and reinstated as though
no deposit had occurred pursuant to Sections 13.01 or 13.02 until such time as the Trustee is permitted to apply all such money or Government
Obligations in accordance with Sections 13.01 or 13.02; provided that, if the Company has made any payment of principal of or interest
on the Debt Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of
such Debt Securities to receive such payment from the money or Government Obligations held by the Trustee.


 


Article 14.

Immunity of Incorporators, Stockholders,

Officers and Directors.


 


Section 14.01.            Indenture
and Debt Securities Solely Obligations of the Company. No recourse under or upon any obligation, covenant or agreement of this Indenture,
any supplemental indenture, or of any Debt Security, or for any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, organizer, stockholder, member, owner, officer, director, manager or employee, as such, past, present or future, of
the Company or any Subsidiary or of any predecessor or successor Person, either directly or through the Company, whether by virtue of
any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood
that this Indenture and the obligations issued hereunder are solely obligations of the Company, and that no such personal liability whatever
shall attach to, or is or shall be incurred by, any incorporator, organizer, stockholder, member, owner, officer, director, manager or
employee, as such, of the Company or of any predecessor or successor Person, or any of them, because of the creation of the indebtedness
hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture, or in any of the Debt
Securities or implied thereby; and that any and all such personal liability, either at common law or in equity or by constitution or statute
of, and any and all such rights and claims against, every such incorporator, organizer, stockholder, member, owner, officer, director,
manager or employee, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any of the Debt Securities or implied thereby, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this Indenture and the issue of such Debt Securities.


 






    	 	59	 



     


    

 


Article 15.

Miscellaneous Provisions.


 


Section 15.01.           Provisions
Binding on Successors of the Company. All of the covenants, stipulations, promises and agreements in this Indenture contained by the
Company shall bind its successors and assigns whether so expressed or not.


 


Section 15.02.           Indenture
for Sole Benefit of Parties and Holders of Debt Securities. Nothing in this Indenture or in the Debt Securities, expressed or implied,
shall give or be construed to give to any Person, firm or corporation, other than the parties hereto, any agent of the Trustee or the
Company under this Indenture and the Holders of the Debt Securities, any legal or equitable right, remedy or claim under or in respect
of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being,
subject to the provisions of Articles Twelve and Fourteen, for the sole benefit of the parties hereto, any agent of the Trustee or the
Company under this Indenture and the Holders of the Debt Securities.


 


Section 15.03.          Addresses
for Notices, etc. Any notice or demand which by any provision of this Indenture is required or permitted to be given or served
by the Trustee or by the Holders of Debt Securities on the Company may be given or served by being deposited, registered or certified
mail postage prepaid, in a post office letter box in the United States addressed (until another address is filed by the Company with the
Trustee) to the Company, Hennessy Advisors, Inc., 7250 Redwood Boulevard, Suite 200, Novato, California 94945, Telecopier No.:[________],
Attention: General Counsel. Any notice, direction, request or demand by any Holder of a Debt Security or the Company to or upon the Trustee
shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of
the Trustee, addressed to the attention of its Corporate Trust Department. Any notice, report or other instrument required by any of the
provisions of this Indenture to be given by the Trustee to the Holders of Debt Securities of any or all series shall be deemed to have
been sufficiently given, for all purposes, when mailed by first class mail.


 


Section 15.04.           New
York Contract; Waiver of Jury Trial. This Indenture and the Debt Securities shall for all purposes be construed in accordance with
and governed by the laws of the State of New York. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE DEBT
SECURITIES, OR THE TRANSACTIONS CONTEMPLATED THEREBY.


 






    	 	60	 



     


    

 


Section 15.05.             Evidence
of Compliance with Conditions Precedent. Upon any Company request to the Trustee to take any action under any of the provisions of
this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any
(including any covenant, compliance with which constitutes a condition precedent) provided for in this Indenture relating to the proposed
action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have
been complied with, except that in the case of any such application or demand as to which the furnishing of such document is specifically
required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need
be furnished.


 


Each certificate or opinion provided for in this
Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include
(a) a statement that the Person making such certificate or opinion has read such covenant or condition; (b) a brief statement
as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or
opinion are based; (c) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is
necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with;
and (d) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.


 


Section 15.06.           Legal
Holidays. In any case where the date of maturity of interest on or principal of or premium, if any, on any series of Debt Securities
or the date fixed for redemption of any Debt Security or Debt Securities will be a legal holiday or a day on which banking institutions
are legally authorized or obligated to close in New York or any other location where a paying agent appointed pursuant to Section 5.02
is located, then payment of such interest on or principal of and premium, if any, on such Debt Securities need not be made by such paying
agent on such date but may be made by such paying agent on the next succeeding business day that is not a day in such location that is
either a legal holiday or a day on which banking institutions are legally authorized or obligated to close, with the same force and effect
as if made on such date of maturity or the date fixed for redemption and no interest shall accrue for the period from and after such prior
date. If any notice, documents or other materials shall be required to be delivered pursuant to the terms of this Indenture on a day that
is a legal holiday or a day on which banking institutions are legally authorized or obligated to close in New York, the required delivery
date shall be extended to the next succeeding business day that is not a day in such location that is either a legal holiday or a day
on which banking institutions are legally authorized or obligated to close.


 


Section 15.07.           Trust
Indenture Act of 1939 to Control. If any provision hereof limits, qualifies or conflicts with the duties imposed by any of Sections
310 through 317 of the Trust Indenture Act of 1939, by the operation of Section 318(c) thereof, such imposed duties shall control,
except as, and to the extent, expressly excluded from this Indenture, as permitted by the Trust Indenture Act of 1939. If any provision
of this Indenture modifies or excludes any provision of the Trust Indenture Act of 1939 that may be so modified or excluded, the latter
provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be.


 


Section 15.08.           Table
of Contents, Headings, etc. The table of contents and the titles and headings of the articles and sections of this Indenture
have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any
of the terms or provisions hereof.


 






    	 	61	 



     


    

 


Section 15.09.            Determination
of Principal Amount. In determining whether the Holders of the requisite principal amount of Outstanding Debt Securities of any series
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, or whether sufficient funds are available
for redemption or for any other purpose, (a) the principal amount of an Original Issue Discount Debt Security that shall be deemed
to be Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the maturity thereof pursuant to Section 7.01, (b) the principal amount
of any Debt Securities denominated in a Foreign Currency that shall be deemed to be Outstanding for such purposes shall be determined
by converting the Foreign Currency into Dollars at the Market Exchange Rate as of the date of such determination and (c) the principal
amount of any Indexed Debt Security that shall be deemed to be Outstanding for such purposes shall be the amount of the principal face
amount of such Indexed Debt Security at original issuance, unless otherwise provided in or pursuant to this Indenture.


 


Section 15.10.            Execution
in Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original and such counterparts
shall together constitute but one and the same instrument. __________________________ hereby accepts the trusts in this Indenture declared
and provided, upon the terms and conditions hereinabove set forth.


 


Section 15.11.           U.S.A.
Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like
all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and
record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The
parties to this Indenture agree that they will provide the Trustee with such information as it may reasonably request in order for the
Trustee to satisfy the requirements of the U.S.A. Patriot Act.


 


Section 15.12.           Force
Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations
hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, to the extent beyond its control,
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts
of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood
that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance
as soon as practicable under the circumstances.


 


[Signature Page Follows]


 






    	 	62	 



     


    

 


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


 


	 	HENNESSY ADVISORS, INC.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title	 
	 	 	 	 


 


	 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title	 


 


[Signature Page to Indenture]