Indenture



 Exhibit 4.1 
 AIRCASTLE LIMITED, 
 as Company, 

and 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION, 
 as Trustee 
 INDENTURE 
 Dated as of April 4, 2012 

 
  

6.75% Senior Notes due 2017 
 7.625% Senior Notes due 2020 







 Aircastle Limited* 

Reconciliation and tie between Trust Indenture Act 
 of 1939 and Indenture, dated as of April 4, 2012 
  

					
	 Trust Indenture

Act Section
	  	Indenture Section
			
	 §310
	 	(a)(1)	  	608
		 	(a)(2)	  	608
		 	(a)(5)	  	608
		 	(b)	  	609
	 §312
	 	(a)	  	701
		 	(b)	  	702
		 	(c)	  	702
	 §313
	 	(a)	  	703
		 	(c)(1)	  	703
		 	(c)(2)	  	703
	 §314
	 	(a)	  	102, 105, 106, 1009
		 	(a)(4)	  	1008
		 	(c)(1)	  	102
		 	(c)(2)	  	102
		 	(c)(3)	  	N/A
		 	(e)	  	102
		 	(f)	  	N/A
	 §315
	 	(a)	  	601
		 	(b)	  	106, 602
		 	(c)	  	601
		 	(d)	  	601
		 	(e)	  	603
	 §316
	 	(a)(last sentence)	  	101 (“Outstanding”)
		 	(a)(1)(A)	  	502, 512
		 	(a)(1)(B)	  	513
		 	(b)	  	508
		 	(c)	  	104(d)
	 §317
	 	(a)(1)	  	503
		 	(a)(2)	  	504
		 	(b)	  	1003
	 §318
	 	(a)	  	111

  
  

 

	*	This reconciliation and tie shall not, for any purpose, be deemed to be a part of this Indenture. 








 TABLE OF CONTENTS1 
  

							
	 	 	 	  	Page	 
	  
 ARTICLE One

 
 DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

 
	 
   


   
   
 

	 SECTION 101.        
	 	Definitions	  	 	1	  
	 SECTION 102.        
	 	Compliance Certificates and Opinions	  	 	29	  
	 SECTION 103.        
	 	Form of Documents Delivered to Trustee	  	 	29	  
	 SECTION 104.        
	 	Acts of Holders	  	 	30	  
	 SECTION 105.        
	 	Notices, Etc., to Trustee, Company and Agent	  	 	30	  
	 SECTION 106.        
	 	Notice to Holders; Waiver	  	 	31	  
	 SECTION 107.        
	 	Effect of Headings and Table of Contents	  	 	31	  
	 SECTION 108.        
	 	Successors and Assigns	  	 	31	  
	 SECTION 109.        
	 	Separability Clause	  	 	31	  
	 SECTION 110.        
	 	Benefits of Indenture	  	 	32	  
	 SECTION 111.        
	 	Governing Law	  	 	32	  
	 SECTION 112.        
	 	Communication by Holders of Notes with Other Holders of Notes	  	 	32	  
	 SECTION 113.        
	 	Legal Holidays	  	 	32	  
	 SECTION 114.        
	 	No Personal Liability of Directors, Officers, Employees and Shareholders	  	 	32	  
	 SECTION 115.        
	 	Trust Indenture Act Controls	  	 	32	  
	 SECTION 116.        
	 	Counterparts	  	 	32	  
	 SECTION 117.        
	 	USA Patriot Act	  	 	33	  
	 SECTION 118.        
	 	Waiver of Jury Trial	  	 	33	  
	 SECTION 119.        
	 	No Adverse Interpretation of Other Agreements	  	 	33	  
	  
 ARTICLE Two

 
 NOTE FORMS

 
	 
   


   
 

	 SECTION 201.        
	 	Forms Generally	  	 	33	  
	 SECTION 202.        
	 	Form of Trustee’s Certificate of Authentication	  	 	34	  
	 SECTION 203.        
	 	Restrictive Legends	  	 	35	  
	 SECTION 204.        
	 	Unrestricted Global Notes	  	 	38	  
	  
 ARTICLE Three

 
 THE NOTES

 
	 
   


   
 

	 SECTION 301.        
	 	Title and Terms	  	 	38	  
	 SECTION 302.        
	 	Denominations	  	 	39	  
	 SECTION 303.        
	 	Execution, Authentication, Delivery and Dating	  	 	39	  
	 SECTION 304.        
	 	Temporary Notes	  	 	40	  
	 SECTION 305.        
	 	Registration, Paying Agent, Registration of Transfer and Exchange	  	 	40	  

  

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



  
 -i- 









							
	SECTION 306.        	 	Mutilated, Destroyed, Lost and Stolen Notes	  	 	41	  
	SECTION 307.        	 	Payment of Interest; Interest Rights Preserved	  	 	42	  
	SECTION 308.        	 	Persons Deemed Owners	  	 	43	  
	SECTION 309.        	 	Cancellation	  	 	43	  
	SECTION 310.        	 	Computation of Interest	  	 	43	  
	SECTION 311.        	 	Book-Entry and Transfer Provisions	  	 	43	  
	SECTION 312.        	 	CUSIP Numbers	  	 	53	  
	SECTION 313.        	 	Issuance of Additional Notes	  	 	53	  
	  
 ARTICLE Four

 
 SATISFACTION AND DISCHARGE

 
	 
   


   
 

	SECTION 401.        	 	Satisfaction and Discharge of Indenture	  	 	53	  
	SECTION 402.        	 	Application of Trust Money	  	 	55	  
	  
 ARTICLE Five

 
 REMEDIES

 
	 
   


   
 

	SECTION 501.        	 	Events of Default	  	 	55	  
	SECTION 502.        	 	Acceleration of Maturity; Rescission and Annulment	  	 	57	  
	SECTION 503.        	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	57	  
	SECTION 504.        	 	Trustee May File Proofs of Claim	  	 	58	  
	SECTION 505.        	 	Trustee May Enforce Claims Without Possession of Notes.	  	 	58	  
	SECTION 506.        	 	Application of Money Collected	  	 	59	  
	SECTION 507.        	 	Limitation on Suits	  	 	59	  
	SECTION 508.        	 	Unconditional Right of Holders To Receive Principal, Premium and Interest	  	 	60	  
	SECTION 509.        	 	Restoration of Rights and Remedies	  	 	60	  
	SECTION 510.        	 	Rights and Remedies Cumulative	  	 	60	  
	SECTION 511.        	 	Delay or Omission Not Waiver	  	 	60	  
	SECTION 512.        	 	Control by Holders	  	 	60	  
	SECTION 513.        	 	Waiver of Past Defaults	  	 	61	  
	SECTION 514.        	 	Waiver of Stay or Extension Laws	  	 	61	  
	  
 ARTICLE Six

 
 THE TRUSTEE

 
	 
   


   
 

	SECTION 601.        	 	Duties of the Trustee	  	 	61	  
	SECTION 602.        	 	Notice of Defaults	  	 	62	  
	SECTION 603.        	 	Certain Rights of Trustee	  	 	62	  
	SECTION 604.        	 	Trustee Not Responsible for Recitals or Issuance of Notes	  	 	64	  
	SECTION 605.        	 	May Hold Notes	  	 	64	  
	SECTION 606.        	 	Money Held in Trust	  	 	64	  
	SECTION 607.        	 	Compensation and Reimbursement	  	 	64	  
	SECTION 608.        	 	Corporate Trustee Required; Eligibility	  	 	65	  
	SECTION 609.        	 	Resignation and Removal; Appointment of Successor	  	 	65	  
	SECTION 610.        	 	Acceptance of Appointment by Successor	  	 	66	  
	SECTION 611.        	 	Merger, Conversion, Consolidation or Succession to Business	  	 	67	  
	SECTION 612.        	 	Appointment of Authenticating Agent	  	 	67	  
	SECTION 613.        	 	Force Majeure	  	 	68	  


  
 -ii- 









					
		  	ARTICLE Seven	  	
			
		  	HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY	  	
			
	SECTION 701.        	  	Company To Furnish Trustee Names and Addresses	  	69
	SECTION 702.        	  	Disclosure of Names and Addresses of Holders	  	69
	SECTION 703.        	  	Reports by Trustee	  	69
			
		  	ARTICLE Eight	  	
			
		  	AMALGAMATION, MERGER, CONSOLIDATION OR	  	
		  	SALE OF ALL OR SUBSTANTIALLY ALL ASSETS	  	
			
	SECTION 801.        	  	Company May Consolidate, Etc., Only on Certain Terms	  	69
	SECTION 802.        	  	Successor Substituted	  	70
			
		  	ARTICLE Nine	  	
			
		  	SUPPLEMENTAL INDENTURES	  	
			
	SECTION 901.        	  	Amendments or Supplements Without Consent of Holders	  	70
	SECTION 902.        	  	Amendments, Supplements or Waivers with Consent of Holders	  	71
	SECTION 903.        	  	Execution of Amendments, Supplements or Waivers	  	72
	SECTION 904.        	  	Effect of Amendments, Supplements or Waivers	  	72
	SECTION 905.        	  	Conformity with Trust Indenture Act	  	72
	SECTION 906.        	  	Reference in Notes to Supplemental Indentures	  	72
	SECTION 907.        	  	Notice of Supplemental Indentures	  	73
	SECTION 908.        	  	Payment for Consent	  	73
			
		  	ARTICLE Ten	  	
			
		  	COVENANTS	  	
			
	SECTION 1001.        	  	Payment of Principal, Premium, if Any, and Interest	  	73
	SECTION 1002.        	  	Maintenance of Office or Agency	  	73
	SECTION 1003.        	  	Money for Notes Payments To Be Held in Trust	  	74
	SECTION 1004.        	  	Corporate Existence	  	75
	SECTION 1005.        	  	Payment of Taxes and Other Claims	  	75
	SECTION 1006.        	  	Maintenance of Properties	  	75
	SECTION 1007.        	  	Insurance	  	75
	SECTION 1008.        	  	Statement by Officers as to Default	  	76
	SECTION 1009.        	  	Reports and Other Information	  	76
	SECTION 1010.        	  	Limitation on Restricted Payments	  	77
	SECTION 1011.        	  	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	  	82
	SECTION 1012.        	  	Limitation on Liens	  	86
	SECTION 1013.        	  	Limitations on Transactions with Affiliates	  	86
	SECTION 1014.        	  	Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	88


  
 -iii- 









					
	SECTION 1015.        	  	Special Interest Notice	  	89
	SECTION 1016.        	  	Change of Control	  	90
	SECTION 1017.        	  	Asset Sales	  	91
	SECTION 1018.        	  	Waiver of Certain Covenants	  	93
	SECTION 1019.        	  	Discharge and Suspension of Covenants	  	93
	SECTION 1020.        	  	Note Guarantees	  	94
	SECTION 1021.        	  	Additional Amounts	  	95
			
		  	ARTICLE Eleven	  	
			
		  	REDEMPTION OF NOTES	  	
			
	SECTION 1101.        	  	Right of Redemption	  	96
	SECTION 1102.        	  	Redemption for Taxation Reasons	  	97
	SECTION 1103.        	  	Applicability of Article	  	97
	SECTION 1104.        	  	Election To Redeem; Notice to Trustee	  	97
	SECTION 1105.        	  	Selection by Trustee of Notes To Be Redeemed	  	98
	SECTION 1106.        	  	Notice of Redemption	  	98
	SECTION 1107.        	  	Deposit of Redemption Price	  	99
	SECTION 1108.        	  	Notes Payable on Redemption Date	  	99
	SECTION 1109.        	  	Notes Redeemed in Part	  	99
			
		  	ARTICLE Twelve	  	
			
		  	DEFEASANCE AND COVENANT DEFEASANCE	  	
			
	SECTION 1201.        	  	Company’s Option To Effect Legal Defeasance or Covenant Defeasance	  	100
	SECTION 1202.        	  	Legal Defeasance and Discharge	  	100
	SECTION 1203.        	  	Covenant Defeasance	  	100
	SECTION 1204.        	  	Conditions to Legal Defeasance or Covenant Defeasance	  	101
	SECTION 1205.        	  	Deposited Money and Government Securities To Be Held in Trust; Other Miscellaneous Provisions	  	102
	SECTION 1206.        	  	Reinstatement	  	102


  
 -iv- 








 EXHIBITS 
 EXHIBIT A-1 – Form of 2017 Note 
 EXHIBIT A-2 – Form of 2020 Note 

EXHIBIT B – Form of Certificate of Transfer 

EXHIBIT C – Form of Certificate of Exchange 

EXHIBIT D – Form of Certificate from Acquiring Institutional Investor 
 EXHIBIT E – Form of Incumbency Certificate 

  
 -v- 








 INDENTURE, dated as of April 4, 2012 (this “Indenture”), between AIRCASTLE
LIMITED, a company incorporated under the laws of Bermuda (the “Company”), having its principal office at 300 First Stamford Place, 5th Floor, Stamford, CT 06902 and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association,
as trustee (in such capacity, the “Trustee”). 
 RECITALS OF THE COMPANY 

The Company has duly authorized the creation of an issue of: (i) 6.75% Senior Notes due 2017 issued on the date hereof (the
“2017 Initial Notes”) and 7.625% Senior Notes due 2020 issued on the date hereof (the “2020 Initial Notes” and, collectively with the 2017 Initial Notes, the “Initial Notes”), and (ii) if and when issued pursuant
to the Registration Rights Agreement (as defined below), 6.75% Senior Exchange Notes due 2017 issued in an Exchange Offer in exchange for any 2017 Initial Notes (the “2017 Exchange Notes”) and 7.625% Senior Exchange Notes due 2020 issued
in an Exchange Offer in exchange for any 2020 Initial Notes (the “2020 Exchange Notes” and, collectively with the 2017 Exchange Notes, the “Exchange Notes”), of substantially the tenor and amount hereinafter set forth, and to
provide therefor the Company has duly authorized the execution and delivery of this Indenture. As used herein, “Notes” shall include any Additional Notes that are issued pursuant to this Indenture and “2017 Notes” or “2020
Notes” shall include any 2017 Additional Notes or 2020 Additional Notes, as applicable, that are issued pursuant to this Indenture, in each case, unless the context otherwise requires. 

Upon the issuance of the Exchange Notes, if any, or the effectiveness of a Shelf Registration Statement, this Indenture shall be subject
to the provisions of the Trust Indenture Act of 1939, as amended, that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 

All things necessary have been done to make the Notes, when executed by the Company and authenticated and delivered hereunder and duly
issued by the Company, the valid and legally binding obligations of the Company and to make this Indenture a valid and legally binding agreement of the Company, in accordance with their and its terms. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders, as follows:

 ARTICLE One 
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 

SECTION 101.        Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(a)     the terms defined in this Article have the meanings assigned to them in this Article, and
include the plural as well as the singular; 
 (b)     all other terms used herein which are
defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein, and the terms “cash transaction” and “self-liquidating paper,” as used in TIA Section 311, shall have
the meanings assigned to them in the rules of the Commission adopted under the Trust Indenture Act; 

  
 -1- 








 (c)     all accounting terms not otherwise defined
herein have the meanings assigned to them in accordance with GAAP (as herein defined); 
 (d)
    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; 

(e)     “or” is not exclusive; 

(f)     “including” means including without limitation; 

(g)     unsecured Indebtedness shall not be deemed to be subordinate or junior to secured
Indebtedness merely by virtue of its nature as unsecured Indebtedness; 
 (h)     secured
Indebtedness shall not be deemed to be subordinate or junior to any other secured Indebtedness merely because it has a junior priority with respect to the same collateral; and 

(i)     Indebtedness that is not guaranteed shall not be deemed to be subordinate or junior to
Indebtedness that is guaranteed merely because of such guarantee. 
 “144A Global Note” means a Global Note
substantially in the form of Exhibit A-1 hereto (in the case of the 2017 Notes) or Exhibit A-2 hereto (in the case of the 2020 Notes), in each case, bearing the 144A Global Note Legend and the Private Placement Legend and deposited with or on behalf
of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A. 

“144A Global Note Legend” means the legend set forth in Section 203 hereof, which is required to be placed on all 144A
Global Notes issued under this Indenture. 
 “2017 Additional Notes” has the meaning set forth in Section 313 of
this Indenture. 
 “2017 Notes” means the 2017 Initial Notes, any 2017 Additional Notes and any 2017 Exchange Notes
issued in exchange for 2017 Initial Notes or 2017 Additional Notes, treated as a single class of securities. 
 “2020
Additional Notes” has the meaning set forth in Section 313 of this Indenture. 
 “2020 Notes” means the 2020
Initial Notes, any 2020 Additional Notes and any 2020 Exchange Notes issued in exchange for 2020 Initial Notes or 2020 Additional Notes, treated as a single class of securities. 

“Acquired Indebtedness” means, with respect to any specified Person, 

(1)     Indebtedness of any other Person existing at the time such other Person is amalgamated or
merged with or into or became a Restricted Subsidiary of such specified Person, including, without limitation, Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Restricted
Subsidiary of such specified Person, and 
 (2)     Indebtedness secured by a Lien
encumbering any asset acquired by such specified Person. 
 “Act,” when used with respect to any Holder, has the
meaning specified in Section 104 of this Indenture. 

  
 -2- 








 “Additional Notes” has the meaning set forth in Section 313 of this
Indenture. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership
of voting securities, by agreement or otherwise. 
 “Affiliate Transaction” has the meaning specified in
Section 1013 of this Indenture. 
 “Agent” means any Note Registrar, co-registrar, Paying Agent or additional
paying agent. 
 “Aircraft Finance Subsidiary” means (a) Aircastle Advisor LLC, AYR Freighter LLC, Enterprise
Aircraft Leasing (France) SARL, Really Useful Aircraft Leasing (Ireland) 1 Limited, Aircastle Bermuda Holding Limited, ACS Aircraft Finance Bermuda Limited, ACS 2007-1 Limited, ACS 2008-1 Limited, GAP Investment 21 LLC, GAP Investment 24 LLC, GAP
Investment 25 LLC, GAP Investment 26 LLC, Aircastle Ireland Holding Limited, ACS Aircraft Finance (Ireland) plc, ACS Aircraft Finance Ireland 2 Limited, ACS Aircraft Finance Ireland 3 Limited, Aircraft MSN 35299 LLC, Aircraft MSN 48778 LLC, Aircraft
MSN 48779 LLC, Really Useful Aircraft Leasing (Ireland) 2 Limited, Really Useful Aircraft Leasing (Ireland) 3 Limited, Sulaco Aircraft Leasing (Ireland) Limited, Thunderbird 1 Leasing Limited, Thunderbird 2 Leasing Limited, Thunderbird 3 Leasing
Limited and Thunderbird 4 Leasing Limited and each Subsidiary of any of the foregoing entities and (b) any other special purpose Subsidiary that facilitates the acquisition, ownership, leasing or financing of aircraft or any parts relating to
aircraft, including any securitization financing in connection therewith. 
 “Applicable Procedures” means, with
respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 

“Asset Sale” means: 
 (1)     the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of property or assets (including by way of a sale and
leaseback) of the Company or any Restricted Subsidiary (each referred to in this definition as a “disposition”), or 
 (2)     the issuance or sale of Equity Interests of any Restricted Subsidiary, whether in a single transaction or a series of related transactions (other than preferred stock of
Restricted Subsidiaries issued in compliance with Section 1011), 
 in each case, other than: 

(a)     a disposition of Cash Equivalents or dispositions of any surplus, obsolete, damaged or worn
out assets in the ordinary course of business or any disposition of inventory or goods held for sale in the ordinary course of business; 
 (b)     the disposition of all or substantially all of the assets of the Company in a manner permitted pursuant to Article Eight or any disposition that constitutes a Change of Control
pursuant to this Indenture; 
 (c)     the making of any Restricted Payment or Permitted
Investment that is permitted to be made, and is made, under Section 1010; 

  
 -3- 








 (d)     any disposition of assets or issuance or sale of
Equity Interests of any Restricted Subsidiary in any transaction or series of transactions with an aggregate Fair Market Value of less than $10.0 million; 
 (e)     any disposition of property or assets or issuance of securities by a Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to a Restricted
Subsidiary; 
 (f)     to the extent allowable under Section 1031 of the Internal
Revenue Code of 1986, as amended, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 
 (g)     the lease, assignment, sublease or license of any real or personal property, including any aircraft, and any disposition in accordance with the terms of such lease, in each
case in the ordinary course of business; 
 (h)     any sale of Equity Interests in, or
Indebtedness or other securities of, an Unrestricted Subsidiary (with the exception of Investments in Unrestricted Subsidiaries acquired pursuant to clause (j) of the definition of Permitted Investments); 

(i)     foreclosures on assets; 

(j)    (i) sales of accounts receivable, or participations therein, in connection with the Credit
Facilities or any Receivables Facility and (ii) the sale or discount of accounts receivable arising in the ordinary course of business in connection with the compromise or collection thereof or in bankruptcy or similar proceeding; 

(k)     the surrender or waiver of contract rights or the settlement, release or surrender of
contract, tort or other claim of any kind, in each case, in the ordinary course of business; 
 (l)
    the creation of a Lien; and 
 (m)     any financing transaction
with respect to property built or acquired by the Company or any Restricted Subsidiary after the Issue Date, including, without limitation, sale leasebacks and asset securitizations permitted by this Indenture. 

“Asset Sale Offer” has the meaning specified in Section 1017 of this Indenture. 

“Authenticating Agent” has the meaning specified in Section 612 of this Indenture. 

“Bankruptcy Law” means Title 11, United States Bankruptcy Code of 1978, as amended, or any similar United States federal or
state law for the relief of debtors. 
 “Board of Directors” means, with respect to any Person, either the board of
directors or managing members, as applicable, of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee of such board. 

“Board Resolution” means, with respect to any Person, a copy of a resolution certified by the Secretary or an Assistant
Secretary of such Person to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and, if required by this Indenture, delivered to the Trustee. 

  
 -4- 








 “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is
not a day on which banking institutions in The City of New York or the city in which the Trustee’s principal office is located are authorized or obligated by law, regulation or executive order to close. 

“Capital Stock” means: 
 (1)     in the case of a corporation, corporate stock, 
 (2)     in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock,

 (3)     in the case of a partnership or limited liability company, partnership,
membership interests (whether general or limited) or shares in the capital of a company, and 
 (4)
    any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

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

“Cash Equivalents” means: 
 (1)     United States dollars, 
 (2)
    pounds sterling, 
 (3)    (a) euro, or any national currency of any
participating member state in the European Union, (b) Canadian dollars, or (c) in the case of any Foreign Subsidiary that is a Restricted Subsidiary, such local currencies held by them from time to time in the ordinary course of business,

 (4)     securities issued or directly and fully and unconditionally guaranteed or insured
by the United States or Canadian government or any agency or instrumentality thereof the securities of which are unconditionally guaranteed as a full faith and credit obligation of such government with maturities of 24 months or less from the date
of acquisition, 
 (5)     certificates of deposit, time deposits and eurodollar time
deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of
$500.0 million, 
 (6)     repurchase obligations for underlying securities of the types
described in clauses (4) and (5) above, entered into with any financial institution meeting the qualifications specified in clause (5) above, 
 (7)     commercial paper rated at least P-2 by Moody’s or at least A-2 by S&P and in each case maturing within 12 months after the date of creation thereof, 

(8)     investment funds investing 95% of their assets in securities of the types described in
clauses (1) through (7) above, 

  
 -5- 








 (9)     readily marketable direct obligations issued by
any state of the United States of America or any political subdivision thereof or any Province of Canada having one of the two highest rating categories obtainable from either Moody’s or S&P with maturities of 24 months or less from the
date of acquisition, and 
 (10)     Indebtedness or preferred stock issued by Persons with
a rating of “A” or higher from S&P or “A2” or higher from Moody’s with maturities of 12 months or less from the date of acquisition. 
 Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clauses (1) through (3) above; provided that such amounts are
converted into any currency listed in clauses (1) through (3) above, as promptly as practicable and in any event within ten Business Days following the receipt of such amounts. 

“Change of Control” means: 
 (1)     any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more Permitted Holders, is or becomes
the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of Voting Stock representing 50% or more of the voting power of the total outstanding Voting Stock of the Company; 

(2)     during any period of two consecutive years, individuals who at the beginning of such period
constituted the Board of Directors of the Company, as the case may be (together with any new directors whose election to such Board of Directors or whose nomination for election by the shareholders of the Company was approved by a vote of the
majority of the directors of the Company then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved (who cannot include persons not elected by or recommended
for election by the then incumbent Board of Directors unless such Board of Directors determines reasonably and in good faith that failure to approve any such persons as members of the Board of Directors could reasonably be expected to violate a
fiduciary duty under applicable law)), cease for any reason to constitute a majority of the Board of Directors of the Company; 
 (3)    (a) all or substantially all of the assets of the Company and the Restricted Subsidiaries, taken as a whole, are sold or otherwise transferred to any Person other than a
Wholly-Owned Restricted Subsidiary or one or more Permitted Holders or (b) the Company amalgamates, consolidates or merges with or into another Person or any Person consolidates, amalgamates or merges with or into the Company, in either case
under this clause (3), in one transaction or a series of related transactions in which immediately after the consummation thereof Persons beneficially owning (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) Voting Stock representing in
the aggregate a majority of the total voting power of the Voting Stock of the Company, immediately prior to such consummation do not beneficially own (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) Voting Stock representing a majority
of the total voting power of the Voting Stock of the Company, or the applicable surviving or transferee Person, provided that this clause shall not apply (i) in the case where immediately after the consummation of the transactions
Permitted Holders beneficially own Voting Stock representing in the aggregate a majority of the total voting power of the Company, or the applicable surviving or transferee Person or (ii) to an amalgamation or a merger of the Company with or
into (x) a corporation, limited liability company or partnership or (y) a wholly-owned subsidiary of a corporation, limited liability company or partnership that, in either case, immediately following the transaction or series of
transactions, has no Person or group (other than Permitted Holders), which beneficially owns Voting Stock representing 50% or more of the voting power of the total outstanding Voting Stock of such entity and, in the case of clause (y), the parent of
such wholly-owned subsidiary guarantees the Company’s obligations under the applicable series of Notes and this Indenture; or 

  
 -6- 








 (4)     the Company shall adopt a plan of liquidation or
dissolution or any such plan shall be approved by the shareholders of the Company. 
 “Change of Control Offer” has
the meaning specified in Section 1016 of this Indenture. 
 “Change of Control Payment” has the meaning specified
in Section 1016 of this Indenture. 
 “Change of Control Payment Date” has the meaning specified in
Section 1016 of this Indenture. 
 “Clearstream” means Clearstream Banking, Société Anonyme, and
its successors. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Exchange Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

 “Common Stock” means, with respect to any Person, any and all shares, interests, participations and other
equivalents (however designated, whether voting or non-voting) of such Person’s common stock, whether now outstanding or issued after the date of this Indenture, and includes, without limitation, all series and classes of such common stock.

 “Company” means the Person named as the “Company” in the first paragraph of this Indenture, until a
successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 
 “Company Request” or “Company Order” means a written request or order signed in the name of the Company by its Chairman, its President, any Vice President or its Treasurer, and
delivered to the Trustee. 
 “consolidated” or “Consolidated” means, with respect to any Person, such Person
consolidated with its Restricted Subsidiaries, and shall not include any Unrestricted Subsidiary. 
 “Consolidated
Depreciation and Amortization Expense” means with respect to any Person for any period, the total amount of depreciation and amortization expense, including any amortization of deferred financing fees, amortization in relation to terminated
Hedging Obligations and amortization of net lease discounts and lease incentives, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP. 

“Consolidated Interest Expense” means, with respect to any Person for any period, the sum, without duplication, of: 

(a)     consolidated interest expense of such Person and its Restricted Subsidiaries for such period,
to the extent such expense was deducted in computing Consolidated Net Income (including amortization of original issue discount resulting from the issuance of Indebtedness at less than par, non-cash interest payments (but excluding any non-cash
interest expense attributable to the movement in the mark to market valuation of or hedge ineffectiveness expenses of Hedging Obligations or other derivative instruments pursuant to Financial Accounting Standards Board Statement No. 133 —
“Accounting for Derivative Instruments and Hedging Activities” and excluding non-cash interest expense attributable to the amortization of gains or losses resulting from the termination prior to the Issue Date of Hedging Obligations), the
interest component of Capitalized Lease Obligations and net payments, if any, pursuant to interest rate Hedging Obligations, and excluding amortization of deferred financing fees and any expensing of other financing fees), and 

  
 -7- 








 (b)     consolidated capitalized interest of such Person
and its Restricted Subsidiaries for such period, whether paid or accrued, less 
 (c)
    interest income for such period. 
 “Consolidated Net Income” means, with respect to any
Person for any period, the aggregate of the Net Income, of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that: 

(1)     any net after-tax extraordinary, non-recurring or unusual gains or losses (less all fees and
expenses relating thereto) or expenses (including, without limitation, relating to severance, relocation and new product introductions) shall be excluded, 
 (2)     the Net Income for such period shall not include the cumulative effect of a change in accounting principles during such period, 

(3)     any net after-tax income (loss) from disposed or discontinued operations and any net
after-tax gains or losses on disposal of disposed or discontinued operations shall be excluded, 
 (4)
    any net after-tax gains or losses (less all fees and expenses relating thereto) attributable to asset dispositions other than in the ordinary course of business, as determined in good faith by the Board of Directors of the
Company, shall be excluded, 
 (5)     the Net Income for such period of any Person that is
not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be excluded; provided that Consolidated Net Income of the Company shall be increased by the amount of dividends or
distributions or other payments that are actually paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period, 

(6)     solely for the purpose of determining the amount available for Restricted Payments under
Section 1010(a)(4)(C), the Net Income for such period of any Restricted Subsidiary shall be excluded to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its Net Income is not at
the date of determination wholly permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute,
rule, or governmental regulation applicable to such Restricted Subsidiary or its shareholders, unless such restriction with respect to the payment of dividends or in similar distributions has been legally waived, provided that Consolidated
Net Income of the Company shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) to the Company or a Restricted Subsidiary thereof in respect of such
period, to the extent not already included therein, 
 (7)     the effects of adjustments
resulting from the application of purchase accounting in relation to any acquisition that is consummated after the Issue Date, net of taxes, shall be excluded, 
 (8)     any net after-tax income (loss) from the early extinguishment of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded, 

(9)     any impairment charge or asset write-off pursuant to Financial Accounting Standards Board
Statement No. 142 and No. 144 and the amortization of intangibles arising pursuant to No. 141 shall be excluded, and 

  
 -8- 








 (10)     any non-cash compensation expense recorded from
grants of stock appreciation or similar rights, stock options or other rights to officers, directors or employees shall be excluded. 
 Notwithstanding the foregoing, for the purpose of Section 1010 only (other than clause (a)(4)(C)(4) thereof), there shall be excluded from Consolidated Net Income any income arising from any sale or
other disposition of Restricted Investments made by the Company and the Restricted Subsidiaries, any repurchases and redemptions of Restricted Investments from the Company and the Restricted Subsidiaries, any repayments of loans and advances which
constitute Restricted Investments by the Company or any Restricted Subsidiary, any sale of the stock of an Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase
the amount of Restricted Payments permitted under such covenant pursuant to clause (a)(4)(C)(4) thereof. 
 “Contingent
Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary
obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent, 
 (1)     to purchase any such primary obligation or any property constituting direct or indirect security therefor, 

(2)     to advance or supply funds: 

(A)     for the purchase or payment of any such primary obligation, or 

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

“Corporate Trust Office” means the principal corporate trust office of the Trustee, at which at any particular time its
corporate trust business shall be administered, which office at the date of execution of this Indenture is located at Wells Fargo Bank, National Association, 625 Marquette Avenue, MAC N9311-115, Minneapolis, MN 55479, except that with respect to
presentation of the Notes for payment or for registration of transfer or exchange, such term shall mean the office or agency of the Trustee at which, at any particular time, its corporate agency business shall be conducted. 

“corporation” includes corporations, associations, companies and business trusts. 

“Covenant Defeasance” has the meaning specified in Section 1203 of this Indenture. 

“Credit Facilities” means, with respect to the Company, one or more debt facilities or commercial paper facilities with banks
or other institutional lenders or investors or indentures providing for revolving credit loans, term loans, receivables financing, including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such
lenders against receivables, letters of credit or other long-term indebtedness, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions,
renewals, restatements or refundings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund or refinance any part of the loans, notes, other credit
facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof. 

  
 -9- 








 “Custodian” means the Trustee, as custodian for DTC with respect to the Notes in
global form, or any successor entity thereto. 
 “Default” means any event that is, or with the passage of time or the
giving of notice or both would be, an Event of Default. 
 “Defaulted Interest” has the meaning specified in
Section 307 of this Indenture. 
 “Definitive Note” means a certificated Note registered in the name of the
Holder thereof and issued in accordance with Section 311 hereof, substantially in the form of Exhibit A-1 hereto (with respect to the 2017 Notes) or Exhibit A-2 hereto (with respect to the 2020 Notes), in each case, except that such Note shall
not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto. 
 “Depositary” means The Depository Trust Company (“DTC”), its nominees and their respective successors. 
 “Designated Non-cash Consideration” means the Fair Market Value of non-cash consideration received by the Company or a Restricted Subsidiary in connection with an Asset Sale that is so
designated as Designated Non-cash Consideration pursuant to an Officers’ Certificate, setting forth the basis of such valuation, executed by a senior vice president or the principal financial officer of the Company, less the amount of cash or
Cash Equivalents received in connection with a subsequent sale of such Designated Non-cash Consideration. 
 “Designated
Preferred Stock” means preferred shares of the Company (in each case other than Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary) and is so designated as Designated Preferred Stock, pursuant to an
Officers’ Certificate executed by a senior vice president or the principal financial officer of the Company on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth in clause (a)(4)(C) of
Section 1010. 
 “Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which,
by its terms, or by the terms of any security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable, other than as a result of a change of control or asset
sale, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, other than as a result of a change of control or asset sale, in whole or in part, in each case prior to the date 91 days after the
earlier of the maturity date of the applicable series of Notes or the date such series of Notes are no longer outstanding; provided, however, that if such Capital Stock is issued to any plan for the benefit of employees of the Company
or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or
regulatory obligations. 
 “Domestic Subsidiary” means, with respect to any Person, any Restricted Subsidiary of such
Person other than a Foreign Subsidiary. 
 “EBITDA” means, with respect to any Person for any period, the Consolidated
Net Income of such Person for such period plus (without duplication): 
 (a)
    provision for taxes based on income or profits, plus franchise or similar taxes, of such Person for such period deducted in computing Consolidated Net Income, plus 

  
 -10- 








 (b)     Consolidated Interest Expense (and other
components of Fixed Charges to the extent changes in GAAP after the Issue Date result in such components reducing Consolidated Net Income) of such Person for such period to the extent the same was deducted in calculating such Consolidated Net
Income, plus 
 (c)     Consolidated Depreciation and Amortization Expense of such
Person for such period to the extent such depreciation and amortization were deducted in computing Consolidated Net Income, plus 
 (d)     any expenses or charges related to any Equity Offering, Permitted Investment, acquisition, disposition, recapitalization or Indebtedness permitted to be incurred by this
Indenture (whether or not successful), including such fees, expenses or charges related to the offering of the Notes and the Credit Facilities, and deducted in computing Consolidated Net Income, plus 

(e)     the amount of any restructuring charge deducted in such period in computing Consolidated Net
Income, including any one time costs incurred in connection with acquisitions after the Issue Date, plus 

(f)     any other non cash charges reducing Consolidated Net Income for such period, excluding any
such charge that represents an accrual or reserve for a cash expenditure for a future period, plus 
 (g)
    the amount of any non-controlling interest expense deducted in calculating Consolidated Net Income (less the amount of any cash dividends paid to the holders of such minority interests), plus 

(h)     any net loss (or minus any gain) resulting from currency exchange risk Hedging Obligations,
plus 
 (i)     foreign exchange loss (or minus any gain) on debt, plus

 (j)     the amount of management, monitoring, consulting and advisory fees and related
expenses paid to Sponsor or any of its Affiliates in an aggregate amount not to exceed $2.0 million per annum, plus 
 (k)     expenses related to the implementation of an enterprise resource planning system, less 

(l)     non-cash items increasing Consolidated Net Income of such Person for such period, excluding
any items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period. 

“EMU” means economic and monetary union as contemplated in the Treaty on European Union. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock, but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock. 
 “Equity Offering” means any public or
private sale of Common Stock or preferred shares of the Company (excluding Disqualified Stock), other than 

(1)     public offerings with respect to the Company’s Common Stock registered on Form S-8;

 (2)     any such public or private sale that constitutes an Excluded Contribution; and

 (3)     any sales to the Company or any of its Subsidiaries. 

  
 -11- 








 “euro” means the single currency of participating member states of the EMU.

 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear system. 

“Event of Default” has the meaning specified in Section 501 of this Indenture. 

“Excess Proceeds” has the meaning specified in Section 1017 of this Indenture. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “Exchange Notes” has the meaning specified in the first recital of this Indenture.

 “Exchange Offers” means the Registered Exchange Offers as defined in the Registration Rights Agreement. 

“Exchange Offer Registration Statement” means the Exchange Offer Registration Statement as defined in the Registration Rights
Agreement. 
 “Exchanging Dealer” has the meaning set forth in the Registration Rights Agreement. 

“Excluded Contribution” means net cash proceeds, marketable securities or Qualified Proceeds received by the Company from:

 (a)    contributions to its common equity capital, and 

(b)    the sale (other than to a Subsidiary of the Company or to any management equity plan or stock
option plan or any other management or employee benefit plan or agreement of the Company) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Company, 
 in each case designated as Excluded Contributions pursuant to an Officers’ Certificate executed by a senior vice president or the principal financial officer of the Company on the date such capital
contributions are made or the date such Equity Interests are sold, as the case may be, which are excluded from the calculation set forth in Section 1010(a)(4)(C). 
 “Excluded Restricted Subsidiary” means any Restricted Subsidiary that has total assets having a Fair Market Value in an amount not to exceed $100,000 on an individual basis and $1,000,000 in the
aggregate for all such Restricted Subsidiaries that are Excluded Restricted Subsidiaries. 
 “Existing Indebtedness”
means Indebtedness of the Company or the Restricted Subsidiaries in existence on the Issue Date, plus interest accruing thereon. 
 “Existing Notes” means the Company’s 9.75% senior notes due 2018. 

“Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction
not involving distress or necessity of either party, determined in good faith by the chief executive officer, chief financial officer, chief accounting officer or controller of the Company or the Restricted Subsidiary, which determination will be
conclusive (unless otherwise provided in this Indenture). 
 “Fixed Charge Coverage Ratio” means, with respect to any
Person for any period, the ratio of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that the 

  
 -12- 








 
Company or any Restricted Subsidiary incurs, assumes, guarantees, redeems, retires or extinguishes any Indebtedness (other than reductions in amounts outstanding under revolving facilities unless
accompanied by a corresponding termination of commitment) or issues or redeems Disqualified Stock or preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to the event
for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such incurrence, assumption, guarantee or redemption,
retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or preferred stock, as if the same had occurred at the beginning of the applicable four-quarter period. 

For purposes of making the computation referred to above, Investments, acquisitions, dispositions, amalgamations, mergers, consolidations
and disposed operations (as determined in accordance with GAAP) that have been made by the Company or any Restricted Subsidiary during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with
the Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, amalgamations, mergers, consolidations and disposed operations (and the change in any associated fixed charge
obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was amalgamated or
merged with or into the Company or any Restricted Subsidiary since the beginning of such period) shall have made any Investment, acquisition, disposition, amalgamation, merger, consolidation or disposed operation that would have required adjustment
pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, amalgamation, merger, consolidation or disposed operation
had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition, whenever pro
forma effect is to be given to a transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company (including pro forma expense and cost reductions, regardless of
whether these cost savings could then be reflected in pro forma financial statements in accordance with Regulation S-X promulgated under the Securities Act or any other regulation or policy of the Commission related thereto). If any Indebtedness
bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into
account any Hedging Obligations applicable to such Indebtedness). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Company to be
the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis
shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency
interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Company may designate. 

“Fixed Charges” means, with respect to any Person for any period, the sum of 

(a)    Consolidated Interest Expense, 

(b)    all cash dividend payments (excluding items eliminated in consolidation) on any series of
preferred stock (including any Designated Preferred Stock) or any Refunding Capital Stock of such Person, and 

(c)    all cash dividend payments (excluding items eliminated in consolidation) on any series of
Disqualified Stock. 

  
 -13- 








 “Foreign Subsidiary” means, with respect to any Person, any Restricted Subsidiary
of such Person that is (i) a controlled foreign corporation within the meaning of Section 957 of the Internal Revenue Code of 1986, as amended (a “CFC”) or (ii) organized in or under the laws of the United States, any state
thereof or the District of Columbia and all of the material assets of such Restricted Subsidiary consist of stock in one or more CFCs. 
 “GAAP” means generally accepted accounting principles in the United States which are in effect on the Issue Date. At any time after the Issue Date, the Company may elect to apply International
Financial Reporting Standards (“IFRS”) accounting principles in lieu of GAAP for purposes of calculations hereunder and, upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS (except as otherwise
provided in this Indenture); provided that any calculation or determination in this Indenture that requires the application of GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS shall remain
as previously calculated or determined in accordance with GAAP. The Company shall give notice of any such election made in accordance with this definition to the Trustee and the Holders of Notes. 

“Global Note Legend” means, as applicable, the 144A Global Note Legend or the Regulation S Global Note Legend. 

“Global Notes” means individually and collectively, each of the Restricted Global Notes and the Unrestricted Global Notes
deposited with or on behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A-1 hereto (in the case of the 2017 Notes) or Exhibit A-2 hereto (in the case of the 2020 Notes) and, in each case, that
bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 201, 311(b)(3), 311(b)(4), 311(d)(2) or 311(f) hereof. 

“Government Securities” means securities that are: 

(a)    direct obligations of the United States of America for the timely payment of which its full
faith and credit is pledged, or 
 (b)    obligations of a Person controlled or supervised
by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the
holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in
respect of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt. 
 “guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including, without
limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 
 “Guarantor” means any Person that executes a Note Guarantee in accordance with the provisions of this Indenture and its respective successors and assigns. 

  
 -14- 








 “Hedging Obligations” means, with respect to any Person, the obligations of such
Person under: 
 (1)    currency exchange, interest rate or commodity swap agreements,
currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements and 
 (2)    other agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates or commodity prices. 

“Holder” means a holder of Notes. 
 “IAI Global Note” means a Global Note substantially in the form of Exhibit A-1 hereto (in the case of the 2017 Notes) or Exhibit A-2 hereto (in the case of the 2020 Notes), in each case, bearing
the 144A Global Note Legend or Regulation S Global Note Legend, as applicable, and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee that will initially be issued in a
denomination equal to the outstanding principal amount of the Notes sold to Institutional Accredited Investors. 

“incur” has the meaning specified in Section 1011 of this Indenture. 

“incurrence” has the meaning specified in Section 1011 of this Indenture. 

“Indebtedness” means, with respect to any Person, 

(a)    any indebtedness (including principal and premium) of such Person, whether or not contingent:

 (1)    in respect of borrowed money; 

(2)    evidenced by bonds, notes, debentures or similar instruments or letters of credit or
bankers’ acceptances (or, without double counting, reimbursement agreements in respect thereof); 

(3)    representing the balance deferred and unpaid of the purchase price of any property (including
Capitalized Lease Obligations), except (i) any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business and (ii) any earn-out obligations until such
obligation becomes a liability on the balance sheet of such Person in accordance with GAAP; or 

(4)    representing any Hedging Obligations, 

if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a
liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 
 (b)    to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise, on the Indebtedness of another Person, other
than by endorsement of negotiable instruments for collection in the ordinary course of business; and 

(c)    to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any
asset owned by such Person, whether or not such Indebtedness is assumed by such Person; 
 provided, however, that Contingent
Obligations shall be deemed not to constitute Indebtedness; and obligations under or in respect of Receivables Facilities shall not be deemed to constitute Indebtedness. 

  
 -15- 








 “Indenture” means this instrument as originally executed and as it may from time
to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this Indenture and any such supplemental indenture, the provisions of the
Trust Indenture Act that are deemed to be part of and govern this instrument and any such supplemental indenture, respectively. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged in
Similar Businesses of nationally recognized standing that is, in the good faith judgment of the Company, qualified to perform the task for which it has been engaged. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 
 “Initial Lien” has the meaning specified in Section 1012 of this Indenture. 
 “Initial Notes” has the meaning stated in the first recital of this Indenture. 
 “Initial Purchasers” means Goldman, Sachs & Co., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Credit Agricole Securities (USA) LLC, Deutsche Bank Securities Inc.,
Jefferies & Company, Inc., RBC Capital Markets, LLC, and Wells Fargo Securities, LLC. 
 “Insolvency or
Liquidation Proceeding” means: 
 (a)    any voluntary or involuntary case or
proceeding under the Bankruptcy Law with respect to the Company; 
 (b)    any other
voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to the Company or with respect to a material portion of its
assets; 
 (c)    any composition of liabilities or similar arrangement relating to the
Company, whether or not under a court’s jurisdiction or supervision; 
 (d)    any
liquidation, dissolution, reorganization or winding up of the Company, whether voluntary or involuntary, whether or not under a court’s jurisdiction or supervision, and whether or not involving insolvency or bankruptcy; or 

(e)    any general assignment for the benefit of creditors or any other marshalling of assets and
liabilities of the Company. 
 “Institutional Accredited Investor” means an institution that is an “accredited
investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs. 

“Interest Payment Date” means the Stated Maturity of an installment of interest on the Notes. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB (or the
equivalent) by S&P, or an equivalent rating by any other Rating Agency. 
 “Investments” means, with respect to
any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commission,
travel, moving and similar advances to officers, 

  
 -16- 








 
directors and employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by
any other Person and investments that are required by GAAP to be classified on the balance sheet (excluding the footnotes) of the Company in the same manner as the other investments included in this definition to the extent such transactions involve
the transfer of cash or other property. For purposes of the definition of “Unrestricted Subsidiary” and Section 1010, 
 (1)    “Investments” shall include the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of a
Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to
have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to: 

(x)    the Company’s “Investment” in such Subsidiary at the time of such redesignation
less 
 (y)    the portion (proportionate to the Company’s equity interest in
such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time of such redesignation; and 
 (2)    any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by
the Company. 
 “Issue Date” means April 4, 2012. 

“Legal Defeasance” has the meaning specified in Section 1202 of this Indenture. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in
respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a
Lien. 
 “Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders
of the Notes for use by such Holders in connection with the Exchange Offer. 
 “Management Group” means at any time,
the Chairman of the Board, any President, any Executive Vice President or Vice President, any Managing Director, any Treasurer and any Secretary or other executive officer of the Company or any Subsidiary of the Company at such time. 

“Maturity,” when used with respect to any Note, means the date on which the principal of such Note or an installment of
principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption or otherwise. 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Net
Income” means, with respect to any Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends. 

“Net payment” means the amount the Company, any Guarantor or their paying agent pays a Holder after deducting or withholding by
the applicable withholding agent of an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a taxing authority (including any withholding or deduction attributable to
additional amounts payable hereunder). 

  
 -17- 








 “Net Proceeds” means the aggregate cash proceeds received by the Company or any
Restricted Subsidiary in respect of any Asset Sale, including, without limitation, any cash received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale, net of the direct costs relating to such
Asset Sale and the sale or disposition of such Designated Non-cash Consideration, including, without limitation, legal, accounting and investment banking fees, and brokerage and sales commissions, any relocation expenses incurred as a result
thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing arrangements), amounts required to be applied to the repayment of principal, premium, if any, and interest on
Indebtedness secured by a Lien permitted under this Indenture required (other than required by clause (1) of the second paragraph of Section 1017(a)) to be paid as a result of such transaction and any deduction of appropriate amounts to be
provided by the Company as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Company after such sale or other disposition thereof, including, without limitation,
pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“Non-U.S. Person” means a Person who is not a U.S. Person. 

“Note Guarantee” has the meaning specified in Section 1020 of this Indenture. 

“Note Register” and “Note Registrar” have the respective meanings specified in Section 305. 

“Notes” has the meaning stated in the first recital of this Indenture and more particularly means any Notes authenticated and
delivered under this Indenture. 
 “Obligations” means any principal, interest (including any interest accruing
subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under applicable state, federal or
foreign law), penalties, fees, indemnifications, reimbursements (including, without limitation, reimbursement obligations with respect to letters of credit and banker’s acceptances), damages and other liabilities, and guarantees of payment of
such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 
 “Offering Circular” means the Offering Circular dated March 30, 2012 relating to the Notes. 
 “Officer” means the Chairman of the Board of Directors, the Chief Executive Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the
Secretary of the Company. 
 “Officers’ Certificate” means a certificate signed on behalf of the Company by two
Officers of the Company, one of whom must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company that meets the requirements set forth in this Indenture. 

“Opinion of Counsel” means, with respect to any Person, a written opinion reasonably acceptable to the Trustee from legal
counsel. The counsel may be counsel for such Person, including an employee of such Person or any Subsidiary of such Person. 

  
 -18- 








 “Outstanding,” when used with respect to Notes, means, as of the date of
determination, all Notes theretofore authenticated and delivered under this Indenture, except: 

(i)    Notes theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

 (ii)    Notes, or portions thereof, for whose payment or redemption money in the
necessary amount 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
Notes; provided that, if such Notes 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)    Notes, except to the extent provided in Sections 1202 and 1203, with respect to which the
Company has effected Legal Defeasance and/or Covenant Defeasance as provided in Article Twelve; and 

(iv)    Notes which have been paid pursuant to Section 306 or in exchange for or in lieu of
which other Notes have been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Notes are held by a bona fide
purchaser in whose hands the Notes are valid obligations of the Company; 
 provided, however, that in determining whether the
Holders of the requisite principal amount of Outstanding Notes have given any request, demand, authorization, direction, consent, notice or waiver hereunder, and for the purpose of making the calculations required by TIA Section 313, Notes
owned by the Company or any other obligor upon the Notes or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such
calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary,
Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 
 “Paying
Agent” means any Person (including the Company) authorized by the Company to pay the principal of (and premium, if any) or interest on any Notes on behalf of the Company. 
 “Permitted Asset Swap” means the concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and cash or Cash Equivalents between the Company
or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received must be applied in accordance with Section 1017. 
 “Permitted Holders” means the collective reference to the Sponsor, its Affiliates and the Management Group. Any Person or group whose acquisition of beneficial ownership constitutes a Change of
Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter, together with its Affiliates, constitute an additional Permitted Holder. 

“Permitted Investments” means: 
 (a)    any Investment in the Company or any Restricted Subsidiary; 
 (b)    any Investment in cash and Cash Equivalents; 

  
 -19- 








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

(d)    any Investment in securities or other assets not constituting cash or Cash Equivalents and
received in connection with an Asset Sale made pursuant to Section 1017, or any other disposition of assets not constituting an Asset Sale; 
 (e)    any Investment existing on the Issue Date; 
 (f)    advances to employees not in excess of $5.0 million outstanding at any one time, in the aggregate; 

(g)    any Investment acquired by the Company or any Restricted Subsidiary 

(1)    in exchange for any other Investment or accounts receivable held by the Company or any such
Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the Company of such other Investment or accounts receivable; or 

(2)    as a result of a foreclosure by the Company or any Restricted Subsidiary with respect to any
secured Investment or other transfer of title with respect to any secured Investment in default; 

(h)    any Investments in Hedging Obligations entered into in the ordinary course of business;

 (i)    loans to officers, directors and employees for business-related travel expenses,
moving expenses and other similar expenses, in each case incurred in the ordinary course of business; 

(j)    any Investment having an aggregate Fair Market Value, taken together with all other
Investments made pursuant to this clause (j) that are at that time outstanding (without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of cash and/or marketable securities), not to
exceed the greater of (x) $125.0 million and (y) 3.0% of Total Assets at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value);

 (k)    Investments the payment for which consists of Equity Interests of the Company
(exclusive of Disqualified Stock); provided, however, that such Equity Interests shall not increase the amount available for Restricted Payments under Section 1010(a)(4)(C); 

(l)    guarantees of Indebtedness permitted under Section 1011; 

(m)    any transaction to the extent it constitutes an investment that is permitted and made in
accordance with Section 1013(b); 
 (n)    Investments consisting of purchases and
acquisitions of inventory, supplies, material or equipment or the licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons; 

  
 -20- 








 (o)    repurchases of any series of Notes; 

(p)    any Investments received in compromise or resolution of (A) obligations of trade
creditors or customers that were incurred in the ordinary course of business of the Company or any of its Restricted Subsidiaries, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade
creditor or customer; or (B) litigation, arbitration or other disputes with Persons who are not Affiliates; 
 (q)    any Investment in a Person (other than the Company or a Restricted Subsidiary) pursuant to the terms of any agreements in effect on the Issue Date and any Investment that
replaces, refinances or refunds an existing Investment; provided that the new Investment is in an amount that does not exceed the amount replaced, refinanced or refunded (after giving effect to write-downs or write-offs with respect to such
Investment), and is made in the same Person as the Investment replaced, refinanced or refunded; 

(r)    endorsements for collection or deposit in the ordinary course of business; and 

(s)    Investments relating to any special purpose wholly-owned subsidiary of the Company organized
in connection with a Receivables Facility that, in the good faith determination of the Board of Directors of the Company, are necessary or advisable to effect such Receivables Facility. 

“Permitted Jurisdiction” means any of the United States, any state thereof, the District of Columbia, or any territory thereof,
Bermuda, the Cayman Islands, Switzerland, Ireland, Singapore, or the Marshall Islands. 
 “Permitted Liens” means,
with respect to any Person: 
 (1)    pledges or deposits by such Person under
workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or
deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the
payment of rent, in each case incurred in the ordinary course of business; 
 (2)    Liens
imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, in each case for sums not yet overdue for a period of more than 30 days or being contested in good faith by appropriate proceedings or other Liens arising out of
judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; 
 (3)    Liens for taxes, assessments or other governmental charges not yet overdue for a period of more than 30 days or payable or subject to penalties for nonpayment or which are being
contested in good faith by appropriate proceedings; 
 (4)    Liens in favor of issuers of
performance and surety bonds or bid bonds or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; 

(5)    minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others
for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental, to the conduct of the business of such Person or to
the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of
such Person; 

  
 -21- 








 (6)    Liens existing on the Issue Date; 

(7)    Liens on property or shares of stock of a Person at the time such Person becomes a Subsidiary;
provided, however, such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a subsidiary; provided, further, however, that such Liens may not extend to any
other property owned by the Company or any Restricted Subsidiary; 
 (8)    Liens on
property at the time the Company or a Restricted Subsidiary acquired the property, including any acquisition by means of an amalgamation or a merger or consolidation with or into the Company or any Restricted Subsidiary; provided,
however, that such Liens are not created or incurred in connection with, or in contemplation of, such acquisition; provided, further, however, that the Liens may not extend to any other property owned by the Company or any
Restricted Subsidiary; 
 (9)    Liens securing Indebtedness or other obligations of a
Restricted Subsidiary owing to the Company or another Restricted Subsidiary permitted to be incurred in accordance with Section 1011 hereof; 
 (10)    Liens securing Hedging Obligations so long as the related Indebtedness is, and is permitted to be under this Indenture, secured by a Lien; 

(11)    Liens on specific items of inventory of other goods and proceeds of any Person securing such
Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

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

(15)    Liens on equipment of the Company or any Restricted Subsidiary granted in the ordinary course
of business to the Company’s client at which such equipment is located; 

(16)    Liens on accounts receivable and related assets incurred in connection with a Receivables
Facility; 
 (17)    Liens to secure any refinancing, refunding, extension, renewal or
replacement (or successive refinancing, refunding, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in clauses (6), (7), (8), (9), (10), (14), (26) and (27); provided,
however, that (x) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus improvements on such property), (y) the Indebtedness secured by such Lien at such time is not increased to any
amount greater than the sum of (A) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8), (9), (10), (14), (26) and (27) at the time the original Lien became a
Permitted Lien under this Indenture, and (B) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement and (z) the new Lien has no greater priority and
the holders of the Indebtedness secured by such Lien have no greater intercreditor rights relative to the Notes and Holders thereof than the original Liens and the related Indebtedness; 

  
 -22- 








 (18)    other Liens securing obligations incurred in the
ordinary course of business which obligations do not exceed $50.0 million; 

(19)    Licenses or sublicenses in the ordinary course of business; 

(20)    Liens securing judgments for the payment of money not constituting an Event of Default under
Section 501(5) so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such proceedings may
be initiated has not expired; 
 (21)    Liens in favor of customs and revenue authorities
arising as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 
 (22)    Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code, or any comparable or successor provision, on items in the course of
collection, (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business, and (iii) in favor of banking institutions arising as a matter of law encumbering deposits
(including the right of set-off) and which are within the general parameters customary in the banking industry; 

(23)    Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens
attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 
 (24)    Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not given in connection with the issuance of
Indebtedness, (ii) relating to pooled deposit or sweep accounts of the Company or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Company and its
Restricted Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of the Company or any of its Restricted Subsidiaries in the ordinary course of business; 

(25)    Liens arising out of conditional sale, title retention, consignment or similar arrangements
for the sale or purchase of goods entered into by the Company or any Restricted Subsidiary in the ordinary course of business; 
 (26)    Liens securing Indebtedness permitted to be incurred pursuant to Section 1011(b)(4); provided that Liens extend only to the assets so financed, purchased,
constructed or improved; and 
 (27)    Liens securing Indebtedness permitted to be incurred
pursuant to Section 1011(b)(17); provided that Liens extend only to the assets so financed and any Capital Stock of any related Aircraft Financing Subsidiary. 
 For purposes of determining compliance with this definition, (A) Permitted Liens need not be incurred solely by reference to one category of Permitted Liens described above but are permitted to be
incurred in part under any combination thereof and (B) in the event that a Lien (or any portion thereof) meets the criteria of one or more of the categories of Permitted Liens described above, the Company may, in its sole discretion, classify
or reclassify such item of Permitted Liens (or any portion thereof) in any manner that complies with this definition and the Company may divide and classify a Lien in more than one of the types of Permitted Liens in one of the above clauses.


  
 -23- 








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

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 306 in exchange for a mutilated Note or in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the
same debt as the mutilated, lost, destroyed or stolen Note. 
 “preferred stock” means any Equity Interest with
preferential rights of payment of dividends or upon liquidation, dissolution, or winding up. 
 “Private Placement
Legend” has the meaning specified in Section 203 of this Indenture. 
 “QIB” means a “qualified
institutional buyer” as defined in Rule 144A. 
 “Qualified Proceeds” means assets that are used or useful in, or
Capital Stock of any Person engaged in, a Similar Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Board of Directors in good faith. 

“Rating Agencies” means Moody’s and S&P or if Moody’s or S&P or both shall not make a rating on a particular
series of Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company which shall be substituted for Moody’s or S&P or both, as the case may be. 

“Receivables Facility” means one or more receivables financing facilities, as amended from time to time, the Indebtedness of
which is non-recourse (except for standard representations, warranties, covenants and indemnities made in connection with such facilities) to the Company and the Restricted Subsidiaries pursuant to which the Company and/or any of its Restricted
Subsidiaries sells its accounts receivable to a Person that is not a Restricted Subsidiary. 
 “Receivables Fees”
means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any
Receivables Facility. 
 “Record Date” means either a Regular Record Date or a Special Record Date. 

“Redemption Date” when used with respect to any Note to be redeemed, in whole or in part, means the date fixed for such
redemption by or pursuant to this Indenture. 
 “Redemption Price” when used with respect to any Note to be redeemed,
means the price at which it is to be redeemed pursuant to this Indenture. 
 “Refinancing Indebtedness” has the
meaning specified in Section 1011 of this Indenture. 
 “Refunding Capital Stock” has the meaning specified in
Section 1010 of this Indenture. 
 “Registration Rights Agreement” means that certain Registration Rights
Agreement dated April 4, 2012 among the Company and Goldman, Sachs & Co., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the Initial Purchasers, and with respect to any Additional Notes, one or more
registration rights agreements, if any, among the Company and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights given by the Company to the purchasers of Additional Notes
to register such Additional Notes under the Securities Act. 

  
 -24- 








 “Regular Record Date” has the meaning specified in Section 301 of this
Indenture. 
 “Regulation S” means Regulation S under the Securities Act. 

“Regulation S Global Note” means a Global Note substantially in the form of Exhibit A-1 hereto (in the case of the 2017 Notes)
or Exhibit A-2 hereto (in the case of the 2020 Notes), in each case, bearing the Regulation S Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued
in a denomination equal to the outstanding principal amount of the Notes of such series issued on a single date and sold in reliance on Rule 903 of Regulation S. 
 “Regulation S Global Notes Legend” means the legend set forth in Section 203 hereof, which is required to be placed on all Regulation S Global Notes issued under this Indenture. 

“Regulation S-X” means Regulation S-X under the Securities Act. 

“Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful in a Similar Business, provided
that any assets received by the Company or a Restricted Subsidiary in exchange for assets transferred by the Company or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless
upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 
 “Relevant Tax
Jurisdiction” means Bermuda, or another jurisdiction in which the Company or a Guarantor, or a successor of any of them, is organized, is resident or engaged in business for tax purposes or through which payments are made on or in connection
with the Notes or the Note Guarantees. 
 “Responsible Officer,” when used with respect to the Trustee, means any vice
president, any assistant treasurer, any trust officer or assistant trust officer, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above-designated officers, and also means, with respect
to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

 “Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Payments” has the meaning specified in Section 1010 of this Indenture. 

“Restricted Period” means the 40-day distribution compliance period as defined in Regulation S. 

“Restricted Subsidiary” means, at any time, any direct or indirect Subsidiary of the Company (including any Foreign Subsidiary)
that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted
Subsidiary.” 
 “Retired Capital Stock” has the meaning specified in Section 1010 of this Indenture.

 “Rule 144” means Rule 144 promulgated under the Securities Act. 

  
 -25- 








 “Rule 144A” means Rule 144A under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“S&P” means Standard and Poor’s Ratings Group. 

“Securities Act” means the Securities Act of 1933 and the rules and regulations of the Commission promulgated thereunder.

 “Shelf Registration Statement” means the Shelf Registration Statement as defined in the Registration Rights
Agreement. 
 “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the Issue Date. 
 “Similar Business” means any business conducted or proposed to be conducted by the Company and its Restricted Subsidiaries on the date of this Indenture or any business that is similar,
reasonably related, incidental or ancillary thereto. 
 “Special Interest” means all Registration Default Damages (as
defined in the Registration Rights Agreement) then owing pursuant to the Registration Rights Agreement. 
 “Special Record
Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 307. 

“Sponsor” means Fortress Investment Group LLC. 
 “Stated Maturity,” when used with respect to any Note or any installment of principal thereof or interest thereon, means the date specified in such Notes as the fixed date on which the principal
of such Notes or such installment of principal or interest is due and payable. 
 “Subordinated Indebtedness” means
(a) with respect to the Company, any Indebtedness of the Company which is by its terms subordinated in right of payment to the Notes, and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms
subordinated in right of payment to the Note Guarantee of such Guarantor. 
 “Subsidiary” means, with respect to any
Person, 
 (1)    any corporation, association, or other business entity (other than a
partnership, joint venture, limited liability company or similar entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof and 

(2)    any partnership, joint venture, limited liability company or similar entity of which;


  
 -26- 








 (x)    more than 50% of the capital accounts,
distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a
combination thereof whether in the form of membership, general, special or limited partnership or otherwise, and 
 (y)    such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such entity. 

“Successor Company” has the meaning specified in Section 801 of this Indenture. 

“Successor Person” has the meaning specified in Section 802 of this Indenture. 

“Total Assets” means the total assets of the Company and the Restricted Subsidiaries, as shown on the most recent balance sheet
of the Company for which internal financial statements are available immediately preceding the date on which any calculation of Total Assets is being made, with such pro forma adjustments for transactions consummated on or prior to or
simultaneously with the date of the calculation as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Fixed Charge Coverage Ratio. 

“Transactions” means the issuance of the Notes offered hereby on the Issue Date, the use of proceeds therefrom as described
under the caption “Use of Proceeds” and other transactions in connection therewith or incidental thereto. 

“Treasury Rate” means with respect to the Notes, as of any Redemption Date, the yield to maturity as of such Redemption Date of
United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) that has become publicly available at least two business days prior to the Redemption Date (or, if
such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the Redemption Date to the applicable maturity date; provided, however, that if the period
from the Redemption Date to the applicable maturity date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939 as in force at the date as of which this
Indenture was executed, except as provided in Section 905. 
 “Trustee” means the Person named as the
“Trustee” in the first paragraph of this Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean such successor Trustee. 

“Unrestricted Global Note” means a Global Note that does not bear and is not required to bear the Private Placement Legend.

 “Unrestricted Subsidiary” means: 

(1)    any Subsidiary of the Company which at the time of determination is an Unrestricted Subsidiary
(as designated by the Board of Directors of the Company, as provided below) and 

(2)    any Subsidiary of an Unrestricted Subsidiary. 

The Board of Directors of the Company may designate any Subsidiary of the Company (including any existing Subsidiary and any newly
acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary 

  
 -27- 








 
unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Company or any Subsidiary of the Company (other
than any Subsidiary of the Subsidiary to be so designated), provided that 

(a)    any Unrestricted Subsidiary must be an entity of which shares of the Capital Stock or other
Equity Interests (including partnership interests) entitled to cast at least a majority of the votes that may be cast by all shares or Equity Interests having ordinary voting power for the election of directors or other governing body are owned,
directly or indirectly, by the Company, 
 (b)    such designation complies with
Section 1010, and 
 (c)    each of the Subsidiary to be so designated and its
Subsidiaries has not at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of
the assets of the Company or any Restricted Subsidiary. 
 The Board of Directors of the Company may designate any Unrestricted
Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving effect to such designation no Default or Event of Default shall have occurred and be continuing and either: 

(1)    the Company could incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test described under Section 1011(a), or 
 (2)    the Fixed Charge
Coverage Ratio for the Company and its Restricted Subsidiaries would be greater than such ratio for the Company and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such
designation. 
 Any such designation by the Board of Directors of the Company shall be notified by the Company to the Trustee by
promptly filing with the Trustee a copy of the Board Resolution giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the foregoing provisions. 

“U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act. 

“Vice President,” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by
a number or a word or words added before or after the title “vice president.” 
 “Voting Stock” of any
Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness, Disqualified Stock or preferred stock, as the case may be, at any date, the quotient obtained by dividing:

 (1)    the sum of the products of the number of years from the date of determination to
the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or preferred stock multiplied by the amount of such payment, by 

(2)    the sum of all such payments. 

“Wholly-Owned Restricted Subsidiary” means any Wholly-Owned Subsidiary that is a Restricted Subsidiary. 

  
 -28- 








 “Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of
the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares) shall at the time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person. 

SECTION 102.         Compliance Certificates and Opinions. 

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

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than pursuant
to Section 1008(a)) shall include: 
 (1)    a statement that each individual signing
such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

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

 (4)    a statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with. 
 SECTION 103.        Form of Documents
Delivered to Trustee. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any
specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with
respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based
are erroneous. Any such certificate or opinion may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such
factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

  
 -29- 








 SECTION 104.        Acts of Holders.

 (a)    Any request, demand, authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agents duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose
of this Indenture and conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

(b)    The fact and date of the execution by any Person of any such instrument or writing may be proved by the
affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution
thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 
 (c)    The principal amount and serial numbers of Notes held by any Person, and the date of holding the same, shall be proved by the Note Register. 

(d)    If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent,
waiver or other Act, the Company may, at its option, by 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 Act, but the Company shall have no obligation to do so. Notwithstanding TIA Section 316(c), 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 Act 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 Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Notes 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. Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange
therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Company in reliance thereon, whether or not notation of such action is made upon such Note. 

SECTION 105.        Notices, Etc., to Trustee, Company and Agent. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 (1)    the Trustee by
any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be via facsimile) to or with the Trustee at Wells Fargo Bank, National Association, 625 Marquette Avenue, 11th
Floor, MAC-N9311-115, Minneapolis, MN 55479, Attention: Corporate Trust Services, Administrator — Aircastle Limited, or 

  
 -30- 








 (2)    the Company by the Trustee or by any Holder shall
be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if made, given, furnished or delivered in writing and mailed, first-class postage prepaid, or delivered by recognized overnight courier, to the Company addressed
to it at the address of its principal office specified in the first paragraph, Attention: General Counsel, or at any other address previously furnished in writing to the Trustee by the Company. 

All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
calendar days after being deposited in the mail, postage prepaid, if mailed by first-class mail; when receipt acknowledged, if faxed; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next
day delivery; provided that any notice or communication delivered to the Trustee shall be deemed effective upon actual receipt thereof. 
 SECTION 106.        Notice to Holders; Waiver. 
 Where this Indenture provides for notice of any event to Holders by the Company or the Trustee, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and
mailed, first-class postage prepaid or by overnight air courier guaranteeing next day delivery, to each Holder affected by such event, at his address as it appears in the Note Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of
such notice with respect to other Holders. Notices given by publication shall be deemed given on the first date on which publication is made and notices given by first-class mail, postage prepaid, shall be deemed given five calendar days after
mailing. 
 In case by reason of the suspension of or irregularities in regular mail service or by reason of any other cause, it
shall be impracticable to mail notice of any event to Holders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a
sufficient giving of such notice for every purpose hereunder. 
 Where this Indenture provides for notice in any manner, such
notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing
shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 SECTION
107.        Effect of Headings and Table of Contents. 
 The Article and Section
headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 SECTION
108.        Successors and Assigns. 
 All agreements of the Company in this
Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its successors. All agreements of each Guarantor, if any, in this Indenture will bind its successors. 

SECTION 109.        Separability Clause. 

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

  
 -31- 








 SECTION 110.         Benefits of Indenture.

 Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto, any
Paying Agent, any Notes Registrar and their successors hereunder, and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 111.        Governing Law. 

This Indenture, the Notes and any Note Guarantee shall be governed by and construed in accordance with the laws of the State of New York.
This Indenture is subject to the provisions of the Trust Indenture Act that are referred to herein or are otherwise required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 

SECTION 112.         Communication by Holders of Notes with Other Holders of Notes.

 Holders may communicate pursuant to Trust Indenture Act Section 312(b) with other Holders with respect to their rights
under this Indenture or the Notes. The Company, the Trustee, the Notes Registrar and anyone else shall have the protection of Trust Indenture Act Section 312(c). 
 SECTION 113.        Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity or Maturity of any Note shall not be a Business Day, then
(notwithstanding any other provision of this Indenture or of the Notes) payment of principal (or premium, if any) or interest need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if
made on the Interest Payment Date, Redemption Date, or at the Stated Maturity or Maturity; provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date, Stated Maturity or Maturity, as the
case may be. 
 SECTION 114.        No Personal Liability of Directors, Officers,
Employees and Shareholders. 
 No director, officer, employee, incorporator or shareholder of the Company shall have any
liability for any obligations of the Company under the Notes, the Note Guarantees or this Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all
such liability. The waiver and release are part of the consideration for issuance of the Notes and the Note Guarantees. 

SECTION 115.        Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this
Indenture by the TIA, the provision required by the TIA shall control. If any provision of this Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the latter provision shall be deemed to apply to this
Indenture as so modified or excluded, as the case may be. 
 SECTION
116.        Counterparts. 
 This Indenture may be executed in any number of
counterparts, each of which shall be original; but such counterparts shall together constitute but one and the same instrument. 

  
 -32- 








 SECTION 117.        USA Patriot Act.

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

SECTION 118.        Waiver of Jury Trial. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 SECTION 119.        No Adverse Interpretation of Other Agreements. 
 This Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary of the Company, and no such indenture or loan or debt agreement may be used to
interpret this Indenture. 
 ARTICLE Two 
 NOTE FORMS 
 SECTION
201.        Forms Generally. 
 The 2017 Initial Notes and the 2017 Exchange
Notes shall be known and designated as “6.75% Senior Notes due 2017” of the Company. The 2020 Initial Notes and the 2020 Exchange Notes shall be known and designated as “7.625% Senior Notes due 2020” of the Company. The 2017
Notes and the Trustee’s certificate of authentication with respect thereto shall be substantially in the form of Exhibit A-1 hereto. The 2020 Notes and the Trustee’s certificate of authentication with respect thereto shall be substantially
in the form of Exhibit A-2 hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage; provided, that any such notations, legends or endorsements are in a form reasonably acceptable to the
Company. Each Note will be dated the date of its authentication. The Notes shall be in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the Company and the Trustee, by their execution and delivery of this Indenture,
expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling.

 Any Definitive Notes shall be printed, lithographed, typewritten or engraved on steel-engraved borders or may be produced in
any other manner, all as determined by two Officers of the Company executing such Notes, as evidenced by their execution of such Notes. 
 Notes issued in global form will be substantially in the form of Exhibit A-1 hereto (in the case of the 2017 Notes) or Exhibit A-2 hereto (in the case of the 2020 Notes), in each case, including the
Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto. Notes issued in definitive form will be substantially in the form of Exhibit A-1 hereto (in the case of the 2017 Notes) or Exhibit
A-2 

  
 -33- 








 
hereto (in the case of the 2020 Notes) but, in each case, without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached
thereto. Each Global Note will represent such of the outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the
aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or
decrease in the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by
Section 311 hereof. 
 The provisions of the “Operating Procedures of the Euroclear System” and “Terms and
Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the Regulation S Global
Notes that are held by Participants through Euroclear or Clearstream. Exchange Notes shall be issued substantially in the form set forth in Exhibit A-1 hereto (in the case of the 2017 Notes) or Exhibit A-2 hereto (in the case of the 2020 Notes).

 SECTION 202.        Form of Trustee’s Certificate of Authentication.

 The Trustee shall, upon receipt of a Company Order, authenticate Notes for original issue that may be validly issued under
this Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate principal amount of Notes authorized for issuance by the Company pursuant to one or more Company Orders,
except as provided in Section 306 hereof. 
 The Trustee may appoint an authenticating agent acceptable to the Company to
authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights
as an Agent to deal with Holders or an Affiliate of the Company. 
 Subject to Section 611, the Trustee’s certificate
of authentication shall be in substantially the following form: 
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION. 

This is one of the [2017]/[2020] Notes referred to in the within-mentioned Indenture. 

 

									
		 		 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
		 		 		 	as Trustee
				
	Dated:	 	  
	 		 	
					
		 		 		 	By	 	  

		 		 		 		 	Authorized Signatory


  
 -34- 








 SECTION 203.        Restrictive Legends.

 Except as permitted by Section 204 below, (a) each 144A Global Note and each Definitive Note (and all Notes issued
in exchange therefor or substitution therefor) shall bear the following legend set forth below (the “144A Global Note Legend”) on the face thereof: 
 THIS SECURITY (INCLUDING ANY RELATED NOTE GUARANTEE) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, RESOLD, ASSIGNED, PLEDGED, ENCUMBERED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS ACQUIRED SECURITIES, TO OFFER,
RESELL OR OTHERWISE TRANSFER THIS SECURITY OR SUCH INTEREST OR PARTICIPATION, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR AFTER THE LATER OF THE ISSUE DATE HEREOF OR ANY OTHER ISSUE DATE IN RESPECT OF A
FURTHER ISSUANCE OF DEBT SECURITIES OF THE SAME SERIES AS THIS SECURITY AND THE LAST DATE ON WHICH AIRCASTLE LIMITED (THE “ISSUER”), ANY GUARANTOR (AS DEFINED IN THE INDENTURE REFERRED TO HEREIN) OR ANY AFFILIATE OF THE ISSUER OR ANY
GUARANTOR WAS THE OWNER OF THIS SECURITY OR SUCH INTEREST OR PARTICIPATION, (OR ANY PREDECESSOR THEREOF), ONLY (A) TO THE ISSUER OR ANY GUARANTOR OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” (AS DEFINED IN RULE 144A) THAT IS ACQUIRING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN OFFSHORE TRANSACTIONS WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (WITHIN THE
MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT) THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS ACQUIRING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A
MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF
COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS AND AGREES FOR THE BENEFIT OF THE ISSUER THAT (1) IT IS
(A) A QUALIFIED INSTITUTIONAL BUYER THAT IS ACQUIRING THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A,
(B) A NON-U.S. PERSON THAT IS ACQUIRING THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN IN AN OFFSHORE TRANSACTION 

  
 -35- 








 
WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (C) AN INSTITUTIONAL “ACCREDITED INVESTOR” (WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE
SECURITIES ACT) THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS ACQUIRING THIS SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT AND (2) IT WILL NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE AND OTHER TRANSFER
RESTRICTION REFERRED TO ABOVE AND THAT THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT, THAT SUCH PURCHASER SHALL BE DEEMED TO HAVE REPRESENTED AS TO THE MATTERS IN CLAUSE (1) OF THIS SENTENCE AND THAT SUCH PURCHASER SHALL BE DEEMED
TO HAVE AGREED TO NOTIFY ITS SUBSEQUENT TRANSFEREES AS TO THE FOREGOING. 
 and (b) each Regulation S Global Note and each Definitive Note
(and all Notes issued in exchange therefor or substitution therefor) shall bear the following legend set forth below (the “Regulation S Global Note Legend”) on the face thereof: 

THIS SECURITY (INCLUDING THE RELATED NOTE GUARANTEES) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, PLEDGED, ENCUMBERED OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF, AGREES ON ITS OWN BEHALF AND ON
BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS ACQUIRED SECURITIES, TO OFFER, RESELL OR OTHERWISE TRANSFER THIS SECURITY OR SUCH INTEREST OR PARTICIPATION, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS 40 DAYS
AFTER THE LATER OF THE COMMENCEMENT OF THE OFFERING OF DEBT SECURITIES WHICH THIS SECURITY IS A PART AND THE ISSUE DATE HEREOF, ONLY (A) TO AIRCASTLE LIMITED (THE “ISSUER”) OR ANY GUARANTOR OR ANY SUBSIDIARY THEREOF, (B) PURSUANT
TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A) THAT IS ACQUIRING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN OFFSHORE TRANSACTIONS WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL
“ACCREDITED INVESTOR” (WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT) THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS ACQUIRING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, 

  
 -36- 








 
OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS AND AGREES FOR THE BENEFIT OF THE ISSUER THAT (1) IT IS (A) A QUALIFIED INSTITUTIONAL BUYER THAT IS ACQUIRING THIS SECURITY OR ANY
INTEREST OR PARTICIPATION HEREIN FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) A NON-U.S. PERSON THAT IS ACQUIRING THIS SECURITY OR ANY INTEREST OR
PARTICIPATION HEREIN IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (C) AN INSTITUTIONAL “ACCREDITED INVESTOR” (WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE
SECURITIES ACT) THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS ACQUIRING THIS SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT AND (2) IT WILL NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE AND OTHER TRANSFER
RESTRICTION REFERRED TO ABOVE AND THAT THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT, THAT SUCH PURCHASER SHALL BE DEEMED TO HAVE REPRESENTED AS TO THE MATTERS IN CLAUSE (1) OF THIS SENTENCE AND THAT SUCH PURCHASER SHALL BE DEEMED
TO HAVE AGREED TO NOTIFY ITS SUBSEQUENT TRANSFEREES AS TO THE FOREGOING. 
 Each Global Note shall also bear the
following legend on the face thereof: 
 UNLESS THIS CERTIFICATE IS PRESENTED, BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR SUCH OTHER REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN SECTION 312 OF THE INDENTURE. 

  
 -37- 








 SECTION 204.        Unrestricted Global
Notes. 
 Any Global Note or Definitive Note issued pursuant to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3),
(e)(2), (e)(3) or (f) of Section 311 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 
 ARTICLE Three 
 THE NOTES 

SECTION 301.        Title and Terms. 

The aggregate principal amount of Notes which may be authenticated and issued under this Indenture is not limited; provided,
however, that any Additional Notes issued under this Indenture are issued in accordance with Sections 303 and 1011 hereof, as part of the same series as either the 2017 Notes or the 2020 Notes. 

The 2017 Notes shall be known and designated as the “6.75% Senior Notes due 2017” of the Company. The Stated Maturity of the
2017 Notes shall be April 15, 2017, and the 2017 Notes shall bear interest at the rate of 6.75% per annum from April 4, 2012, or from the most recent Interest Payment Date to which interest has been paid or duly provided for on the
2017 Notes. The 2020 Notes shall be known and designated as the “7.625% Senior Notes due 2020” of the Company. The Stated Maturity of the 2020 Notes shall be April 15, 2020, and the 2020 Notes shall bear interest at the rate of
7.625% per annum from April 4, 2012, or from the most recent Interest Payment Date to which interest has been paid or duly provided for on the 2020 Notes. 
 Interest on the Notes is payable on October 15, 2012 and semi-annually thereafter on April 15 and October 15 of each year and at the applicable Stated Maturity, until the principal of such
Note is paid or duly provided for and to the Person in whose name such Note (or any Predecessor Note), is registered at the close of business on the April 1 and October 1 immediately preceding such Interest Payment Date (each, a
“Regular Record Date”). 
 The principal of (and premium, if any) and interest on the Notes shall be payable at the
office or agency of the Company maintained for such purpose in The City and State of New York or, at the option of the Company, payment of interest may be made by check mailed to the Holders of the Notes at their respective addresses set forth in
the Note Register of Holders; provided that all payments of principal, premium, if any, and interest with respect to Notes represented by one or more Global Notes registered in the name of or held by the Depositary or its nominee will be made
by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof. Until otherwise designated by the Company, the Company’s office or agency in New York shall be the office of the trustee maintained for
such purpose. 
 Holders shall have the right to require the Company to purchase their Notes, in whole or in part, in the event
of a Change in Control pursuant to Section 1016. The Notes shall be subject to repurchase pursuant to an offer to purchase as provided in Section 1017. 
 The Notes shall be redeemable as provided in Article Eleven. 
 If the Notes are
guaranteed, the due and punctual payment of principal of, premium, if any, and interest on the Notes payable by the Company is irrevocably and unconditionally guaranteed, to the extent set forth herein, by each of the Guarantors. 

  
 -38- 








 SECTION 302.        Denominations.

 The Notes shall be issuable only in registered form without coupons and only in minimum denominations of $2,000 and any
integral multiple of $1,000 in excess thereof. 
 SECTION 303.        Execution,
Authentication, Delivery and Dating. 
 The Notes shall be executed on behalf of the Company by any two Officers. The
signature of any Officer on the Notes may be manual or facsimile signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the Notes. 

Notes bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the
Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Notes or did not hold such offices at the date of such Notes. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes executed by the
Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Notes, and the Trustee in accordance with such Company Order shall authenticate and deliver such Notes. Such Company Order shall
identify the Notes to be authenticated, the date on which the original issue of the Notes is to be authenticated, the number of separate Note certificates, the principal amount of such Notes to be authenticated, the registered holder of each of the
said Notes, and delivery instructions. 
 On the Issue Date, the Company shall deliver (i) 2017 Initial Notes in the
aggregate principal amount of $500,000,000 and (ii) 2020 Initial Notes in the aggregate principal amount of $300,000,000, in each case, executed by the Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Notes, directing the Trustee to authenticate the Notes and certifying that all conditions precedent to the issuance of Notes contained herein have been fully complied with, and the Trustee in accordance with such
Company Order shall authenticate and deliver such Initial Notes. At any time and from time to time after the Issue Date, the Company may deliver Additional Notes of either series executed by the Company to the Trustee for authentication, together
with a Company Order for the authentication and delivery of such Additional Notes, directing the Trustee to authenticate the Additional Notes and certifying that the issuance of such Additional Notes is in compliance with Article Ten hereof and that
all other conditions precedent to the issuance of Notes contained herein have been fully complied with, and the Trustee in accordance with such Company Order shall authenticate and deliver such Additional Notes. On Company Order, the Trustee shall
authenticate for original issue (i) 2017 Exchange Notes in an aggregate principal amount not to exceed $500,000,000, plus the aggregate principal amount of any 2017 Additional Notes issued and (ii) 2020 Exchange Notes in an aggregate
principal amount not to exceed $300,000,000 of 2020 Initial Notes, plus the aggregate principal amount of any 2020 Additional Notes issued; provided that such Exchange Notes shall be issuable only upon the valid surrender for cancellation of
Initial Notes and any Additional Notes of a like aggregate principal amount of the applicable series in accordance with an Exchange Offer pursuant to the Registration Rights Agreement and the Company Order for the authentication and delivery of such
Exchange Notes shall certify that all conditions precedent to the issuance of such Exchange Notes are complied with (including the effectiveness of the Exchange Offer Registration Statement related thereto).In each case, the Trustee shall receive an
Officers’ Certificate and an Opinion of Counsel of the Company that it may reasonably require in connection with such authentication of Notes. Such order shall specify the amount and series of Notes to be authenticated and the date on which the
original issue of Notes is to be authenticated. 
 Each Note shall be dated the date of its authentication. 

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Note
a certificate of authentication substantially in the form provided for herein 

  
 -39- 








 
duly executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Note shall be conclusive evidence, and the only evidence, that such Note has been duly
authenticated and delivered hereunder and is entitled to the benefits of this Indenture. 
 In case the Company, pursuant to
Article Eight, shall be amalgamated, consolidated or merged with or into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the successor Person
resulting from such amalgamation or consolidation, or surviving such merger, or into which the Company shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid, shall have
executed a supplemental indenture hereto with the Trustee pursuant to Article Nine, any of the Notes authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at the
request of the successor Person, be exchanged for other Notes executed in the name of the successor Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as the Notes surrendered for such
exchange and of like principal amount; and the Trustee, upon Company Request of the successor Person, shall authenticate and deliver Notes as specified in such request for the purpose of such exchange. If Notes shall at any time be authenticated and
delivered in any new name of a successor Person pursuant to this Section in exchange or substitution for or upon registration of transfer of any Notes, such successor Person, at the option of the Holders but without expense to them, shall provide
for the exchange of all Notes at the time Outstanding for Notes authenticated and delivered in such new name. 
 SECTION
304.        Temporary Notes. 
 In the event Definitive Notes are to be issued
pursuant to the terms of this Indenture, pending the preparation of Definitive Notes, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Notes which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the Definitive Notes in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Notes may determine, as conclusively evidenced by their execution of such Notes. 
 If temporary Notes
are issued, the Company will cause Definitive Notes to be prepared without unreasonable delay. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the
office or agency of the Company designated for such purpose pursuant to Section 1002, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a like principal amount of Definitive Notes of authorized denominations. Until so exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as Definitive Notes.

 SECTION 305.        Registration, Paying Agent, Registration of Transfer and
Exchange. 
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register
maintained in such office and in any other office or agency designated pursuant to Section 1002 being herein sometimes referred to as the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the
Company shall provide for the registration of Notes and of transfers of Notes. The Note Register shall be in written form or any other form capable of being converted into written form within a reasonable time. At all reasonable times, the Note
Register shall be open to inspection by the Trustee. The Trustee is hereby initially appointed as note registrar (the “Note Registrar”) for the purpose of registering Notes and transfers of Notes as herein provided and as Paying Agent. The
Company may appoint one or more co-registrars and one or more additional paying agents. The Company may change any Paying Agent or Registrar without prior notice to any Holder; provided, that the Company shall maintain one or more Paying
Agents in the Borough of Manhattan, City of New York. The Company shall notify the Trustee in writing of the name and address of any Agent not party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying
Agent, the Trustee shall act as such. The Company may act as Paying Agent or Registrar. 

  
 -40- 








 The Company initially appoints DTC to act as Depositary with respect to the Global Notes.

 Transfers and exchanges pursuant to this Section 305 and Section 311 hereof may only be made between Notes of the
same series. 
 Upon surrender for registration of transfer of any Note at the office or agency of the Company designated
pursuant to Section 1002, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized denomination or denominations of a like
aggregate principal amount. 
 At the option of the Holder, Notes may be exchanged for other Notes of any authorized
denomination and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Notes which the Holder making the exchange is entitled to receive; provided that no exchange of Notes for Exchange Notes shall occur until an Exchange Offer Registration Statement shall have been declared effective by the
Commission, the Trustee shall have received an Officers’ Certificate confirming that the Exchange Offer Registration Statement has been declared effective by the Commission and the Initial Notes to be exchanged for the Exchange Notes shall be
cancelled by the Trustee. 
 All Notes issued upon any registration of transfer or exchange of Notes shall be the valid
obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 

Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Note
Registrar) be duly endorsed, or be accompanied by written instruments of transfer, in form satisfactory to the Company and the Note Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange or redemption of Notes, but the Company may require payment
of a sum sufficient to cover any taxes, fees or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to Sections 303, 304, 906, 1016, 1017 or 1109 not
involving any transfer. 
 Neither the Registrar nor the Company shall be required to register the transfer of or exchange any
Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 
 SECTION
306.        Mutilated, Destroyed, Lost and Stolen Notes. 
 If (i) any
mutilated Note is surrendered to the Trustee, or (ii) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Note, and there is delivered to the Company and the Trustee such security or
indemnity as may be required by them to protect the Trustee, any Agent and the Company from any loss, then, in the absence of notice to the Company or the Trustee that such Note has been acquired by a bona fide purchaser, the Company shall execute
and upon Company Order the Trustee shall authenticate and deliver, in exchange for any such mutilated Note or in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount, bearing a number not contemporaneously
outstanding. 
 In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Note, pay such Note. 

  
 -41- 








 Upon the issuance of any new Note under this Section, the Company may require the payment of
a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Note issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Note shall constitute an original
additional contractual obligation of the Company and shall be entitled to all benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Notes. 
 SECTION
307.        Payment of Interest; Interest Rights Preserved. 
 Interest on any
Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the applicable Regular
Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 1002; provided, however, that, subject to Section 301 hereof, each installment of interest may at the
Company’s option be paid by (i) mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as it appears in the Note Register or
(ii) transfer to an account located in the United States maintained by the payee. 
 Any interest on any Note which is
payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder on the applicable Regular Record Date by virtue of having been paid to such Holder, and such defaulted interest
and (to the extent lawful) interest on such defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) may be paid by the Company, at its election in
each case, as provided in clause (1) or (2) below: 
 (1)    The Company may elect
to make payment of any Defaulted Interest on a particular series of Notes to the Persons in whose names such Notes (or their respective Predecessor Notes) 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 Note of such series 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 therefor to be given in the manner provided for in
Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so given, such Defaulted Interest shall be paid to the Persons in
whose names the Notes of such series (or their respective Predecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 

(2)    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 Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this
clause, such manner of payment shall be deemed practicable by the Trustee. 

  
 -42- 








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

SECTION 308.        Persons Deemed Owners. 

Prior to the due presentment of a Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name such Note is registered as the owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and (subject to Sections 305 and 307) interest on such Note and for all other purposes
whatsoever, whether or not such Note be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 SECTION 309.        Cancellation. 

All Notes surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to any Person other than the
Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder. All Notes so delivered shall be promptly
cancelled by the Trustee. If the Company shall so acquire any of the Notes, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Notes unless and until the same are surrendered to the
Trustee for cancellation. No Notes shall be authenticated in lieu of or in exchange for any Notes cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Notes held by the Trustee shall be disposed of by
the Trustee in accordance with its customary procedures unless by Company Order the Company shall direct that cancelled Notes be returned to it. Certification of the destruction of all cancelled Notes shall upon the written request of the Company be
delivered to the Company. 
 SECTION 310.         Computation of Interest.

 Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 

SECTION 311.        Book-Entry and Transfer Provisions. 

(a)    Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the
Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All
Global Notes will be exchanged by the Company for Definitive Notes if: 
 (1)    the
Depositary (a) notifies the Company that it is unwilling or unable to continue as depositary for the Global Notes or (b) has ceased to be a clearing agency registered under the Exchange Act and, in either case, the Company fails to appoint
a successor depositary; 
 (2)    the Company, at its option, notifies the Trustee in
writing that it elects to cause the issuance of the Definitive Notes; or 
 (3)    there has
occurred and is continuing a Default or Event of Default with respect to the Notes. 

  
 -43- 








 Upon the occurrence of either of the preceding events in (1) or (2) above,
Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 304 and 306 hereof. Every Note authenticated and delivered in
exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 312 or Sections 304 or 306 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged
for another Note other than as provided in this Section 311(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 311(b), (c) or (f) hereof. 

(b)    Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of
beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. None of the Company, the Trustee, Paying Agent, nor any agent of the Company shall
have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a Global Note, or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests. Beneficial interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global
Notes also will require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(1)    Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any
Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend;
provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person (other than an
Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required
to be delivered to the Note Registrar to effect the transfers described in this Section 311(b)(1). 

(2)    All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to Section 311(b)(1) above, the transferor of such beneficial interest must deliver to the Note Registrar either: 

(A)    both: 

(x)    a written order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(y)    instructions given in accordance with the Applicable Procedures containing information
regarding the Participant account to be credited with such increase; or 
 (B)    both:

 (x)    a written order from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

  
 -44- 








 (y)    instructions given by the Depositary to the Note
Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (A) above. 
 Upon consummation of an Exchange Offer by the Company in accordance with Section 311(f) hereof, the requirements of this Section 311(b)(2) shall be deemed to have been satisfied upon receipt by
the Note Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial
interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 311(g) hereof. 

(3)    Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial
interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 311(b)(2) above
and: 
 (A)    if the transferee will take delivery in the form of a beneficial interest in
the 144A Global Note, then the transferor must deliver to the Note Registrar a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B)    if the transferee will take delivery in the form of a beneficial interest in the Regulation S
Global Note, then the transferor must deliver to the Note Registrar a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C)    if the transferee will take delivery in the form of a beneficial interest in the IAI Global
Note, then the transferor must deliver to the Note Registrar a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable. 

(4)    Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial
Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof
in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 311(b)(2) above and: 

(A)    such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the
Registration Rights Agreement and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) an
Exchanging Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B)    such transfer is effected pursuant to the Shelf Registration Statement in accordance with the
Registration Rights Agreement; 
 (C)    such transfer is effected by an Exchanging Dealer
pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 

  
 -45- 








 (D)    the Note Registrar receives the following:

 (x)    if the holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

(y)    if the holder of such beneficial interest in a Restricted Global Note proposes to transfer
such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Note Registrar or the Company so requests
or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If
any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of a Company Order in accordance with Section 202
hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above.

 Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery
thereof in the form of, a beneficial interest in a Restricted Global Note. 
 (c)    Transfer or Exchange
of Beneficial Interests for Definitive Notes. 
 (1)    Beneficial Interests in Restricted Global
Notes to Restricted Definitive Notes. If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Note Registrar of the following documentation: 
 (A)    if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such
holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 

(B)    if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

(C)    if such beneficial interest is being transferred to a Non-U.S. Person in an offshore
transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D)    if such beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E)    if such beneficial interest is being transferred to an Institutional Accredited Investor in
reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; 

  
 -46- 








 (F)    if such beneficial interest is being transferred
to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 

(G)    if such beneficial interest is being transferred pursuant to an effective registration
statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 311(g) hereof, and the Company shall execute and the Trustee shall
authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this
Section 311(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Note Registrar through instructions from the Depositary and the
Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to
this Section 311(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 
 (2)    Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such
beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 

(A)    such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the
Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) an Exchanging Dealer,
(ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B)    such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

(C)    such transfer is effected by an Exchanging Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D)    the Note
Registrar receives the following: 
 (x)    if the holder of such beneficial interest in a
Restricted Global Note proposes to exchange such beneficial interest for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(y)    if the holder of such beneficial interest in a Restricted Global Note proposes to transfer
such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Note Registrar or the Company so requests or if the Applicable
Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private
Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

  
 -47- 








 (3)    Beneficial Interests in Unrestricted Global Notes to
Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 311(b)(2) hereof, the Trustee will cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to
Section 311(g) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a
beneficial interest pursuant to this Section 311(c)(3) will be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests through instructions to the Note Registrar
from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest
pursuant to this Section 311(c)(3) will not bear the Private Placement Legend. 
 (d)    Transfer
and Exchange of Definitive Notes for Beneficial Interests. 
 (1)    Restricted Definitive Notes to
Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who
takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Note Registrar of the following documentation: 

(A)    if the Holder of such Restricted Definitive Note proposes to exchange such Note for a
beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

(B)    if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A,
a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C)    if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D)    if such Restricted Definitive Note is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E)    if such Restricted Definitive Note is being transferred to an Institutional Accredited
Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; 

(F)    if such Restricted Definitive Note is being transferred to the Company or any of its
Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G)    if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (3)(c) thereof, the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case of clause (A) above, the
appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note, in the case of clause (C) above, the Regulation S Global Note, and in all other cases, the IAI Global Note. 

  
 -48- 








 (2)    Restricted Definitive Notes to Beneficial Interests in
Unrestricted Global Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of
a beneficial interest in an Unrestricted Global Note only if: 
 (A)    such exchange or
transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that
it is not (i) an Exchanging Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B)    such transfer is effected pursuant to the Shelf Registration Statement in accordance with the
Registration Rights Agreement; 
 (C)    such transfer is effected by an Exchanging Dealer
pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 

(D)    the Note Registrar receives the following: 

(x)    if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial
interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(y)    if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall
take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Note Registrar or the Company so requests or if the Applicable
Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private
Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the
conditions of any of the subparagraphs in this Section 311(d)(2), the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 

(3)    Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an
Unrestricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global
Notes. 
 If any such exchange or transfer from a Definitive Note to a beneficial interest in a Global Note is effected pursuant
to subparagraphs (2)(B), (2)(D) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt of a Company Order in accordance with Section 202 hereof, the Trustee will
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 

  
 -49- 








 (e)    Transfer and Exchange of Definitive Notes for Definitive
Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 311(e), the Note Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration of
transfer or exchange, the requesting Holder must present or surrender to the Note Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Note Registrar duly executed by such
Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this
Section 311(e). 
 (1)    Restricted Definitive Notes to Restricted Definitive
Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Note Registrar receives the following: 

(A)    if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B)    if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 
 (C)    if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form
of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 
 (2)    Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or
transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 

(A)    such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the
Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Exchanging Dealer, (ii) a Person participating
in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B)    any such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

(C)    any such transfer is effected by a Exchanging Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or 

(D)    the Note Registrar receives the following: 

(x)    if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an
Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
 (y)    if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a
certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

  
 -50- 








 and, in each such case set forth in this subparagraph (D), if the Note Registrar or the
Company so requests, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private
Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(3)    Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of
Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Note Registrar shall register the Unrestricted
Definitive Notes pursuant to the instructions from the Holder thereof. 
 (f)    Exchange Offers.
Upon the occurrence of the Exchange Offers in accordance with the Registration Rights Agreement, the Company will issue and, upon receipt of an Company Order in accordance with Section 202 hereof, the Trustee will authenticate one or more:

 (1)    Unrestricted Global Notes of a particular series in an aggregate principal amount
equal to the principal amount of the beneficial interests in the Restricted Global Notes of such series accepted for exchange in the Exchange Offers by Persons that certify in the applicable Letters of Transmittal that (A) they are not
Exchanging Dealers, (B) they are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company; and 

(2)    Unrestricted Definitive Notes of a particular series in an aggregate principal amount equal to
the principal amount of the Restricted Definitive Notes of such series accepted for exchange in the Exchange Offers by Persons that certify in the applicable Letters of Transmittal that (A) they are not Exchanging Dealers, (B) they are not
participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company. 
 Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company will execute and
the Trustee will authenticate and deliver to the Persons designated by the Holders of Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate series and principal amount. 

(g)    Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in
accordance with Section 309 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly
and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
 (h)    General Provisions Relating to Transfers and Exchanges. 
 (1)    To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global Notes and Definitive Notes upon receipt of a Company Order
in accordance with Section 202 hereof or at the Note Registrar’s request. 

  
 -51- 








 (2)    No service charge will be made to a Holder of a beneficial
interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection
therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 304, 906, 1016, 1017 and 1109 hereof. 
 (3)    The Note Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any
Note being redeemed in part. 
 (4)    All Global Notes and Definitive Notes issued upon any registration of
transfer or exchange of Global Notes or Definitive Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such
registration of transfer or exchange. 
 (5)    Transfers and exchanges may only be made between Notes of
the same series. 
 (6)    Neither the Note Registrar nor the Company will be required: 

(A)    to issue, to register the transfer of or to exchange any Notes of a particular series during a
period beginning at the opening of business 15 days before the day of any selection of Notes of such series for redemption under Section 1105 hereof and ending at the close of business on the day of such selection; 

(B)    to register the transfer of or to exchange any Note selected for redemption in whole or in
part, except the unredeemed portion of any Note being redeemed in part; or 
 (C)    to
register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date. 

(7)    Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the
Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes, and none of the Trustee, any
Agent or the Company shall be affected by notice to the contrary. 
 (8)    The Trustee will authenticate
Global Notes and Definitive Notes in accordance with the provisions of Section 202 hereof. 

(9)    All certifications, certificates and Opinions of Counsel required to be submitted to the Note Registrar
pursuant to this Section 311 to effect a registration of transfer or exchange may be submitted by facsimile. 

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

  
 -52- 








 SECTION 312.        CUSIP Numbers.

 The Company in issuing the Notes may use “CUSIP,” “ISIN” or other numbers (if then generally in use) in
addition to serial numbers, and, if so, the Trustee shall use such “CUSIP,” “ISIN” or other numbers in addition to serial numbers in notices of redemption, repurchase or other notices to Holders as a convenience to Holders;
provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption or repurchase and that reliance may be placed only on
the serial or other identification numbers printed on the Notes, and any such redemption or repurchase shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee in writing of any change in the
CUSIP, ISIN or other numbers. 
 SECTION 313.        Issuance of Additional
Notes. 
 The Company may, subject to Section 1011 of this Indenture, issue from time to time, without notice to or
consent of the Holders, (i) additional 2017 Notes having identical terms and conditions to the 2017 Initial Notes, other than with respect to the date of issuance and issue price, first payment of interest and rights under the Registration
Rights Agreement (the “2017 Additional Notes”) and (ii) additional 2020 Notes having identical terms and conditions to the 2020 Initial Notes, other than with respect to the date of issuance and issue price, first payment of interest
and rights under the Registration Rights Agreement (the “2020 Additional Notes” and, together with the 2017 Additional Notes, the “Additional Notes”). The Initial Notes of any particular series and any Additional Notes of such
series subsequently issued shall be treated as a single class for all purposes under this Indenture. Exchange Notes issued in exchange for Initial Notes of a particular series and Exchange Notes issued for any Additional Notes of such series
subsequently issued shall be treated as a single class with the Initial Notes of such series and any Additional Notes of such series for all purposes under this Indenture. 
 With respect to any Additional Notes, the Company shall set forth in an Officers’ Certificate pursuant to a resolution of the Board of Directors of the Company, copies of which shall be delivered to
the Trustee, the following information: 
 (1)    the aggregate principal amount of such
Additional Notes to be authenticated and delivered pursuant to this Indenture; 
 (2)    the
issue price, the issue date, the CUSIP number of such Additional Notes and the series of the Notes under which such Additional Notes shall be issued; and 
 (3)    whether such Additional Notes shall be issued in the form of Restricted Global Notes or Exchange Notes. 
 ARTICLE Four 
 SATISFACTION AND DISCHARGE 

SECTION 401.        Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Request be discharged with respect to a particular series of Notes and will cease to be of further
effect as to all Notes of such series issued hereunder (except as to surviving rights of registration of transfer or exchange of Notes expressly provided for herein or pursuant hereto) and the Trustee, at the expense of the Company, shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture when: 

(1)    either 

  
 -53- 








 (a)    all Notes of such series theretofore
authenticated and delivered (other than (i) Notes of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Notes of such series for whose payment money has
theretofore been deposited in trust with the Trustee or any Paying Agent or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the
Trustee for cancellation; or 
 (b)    all such Notes of such series not theretofore
delivered to the Trustee for cancellation 
 (i)    have become due and payable by reason
of the making of a notice of redemption pursuant to Section 1106 or otherwise, or 

(ii)    will become due and payable at their Stated Maturity within one year, or 

(iii)    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, 
 and the
Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of such series, cash in U.S. dollars, Government
Securities, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation,
for principal (and premium, if any) and accrued interest to the Stated Maturity or Redemption Date, as the case may be; 
 (2)    no Default or Event of Default with respect to the Outstanding Notes of such series (other than that resulting from borrowing funds to be applied to make such deposit or the
granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such deposit shall not result in a breach or violation of, or constitute a default under, any
other instrument to which the Company is a party or by which the Company is bound (other than an instrument to be terminated contemporaneously with or prior to the borrowing of funds to be applied to make such deposit and the granting of Liens in
connection therewith); 
 (3)    the Company has paid or caused to be paid all sums payable
by it under this Indenture with respect to the Notes of such series; 
 (4)    the Company
has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of such Notes at the Stated Maturity or the Redemption Date, as the case may be; and 

(5)    the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607, the obligations of the Company to any Authenticating Agent under
Section 612 and, if money or Government Securities shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of
Section 1003 shall survive such satisfaction and discharge. 

  
 -54- 








 SECTION 402.        Application of Trust
Money. 
 Subject to the provisions of the last paragraph of Section 1003, all money or Government Securities deposited
with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the applicable series of Notes 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 or Government Securities has been deposited with the Trustee;
but such money or Government Securities need not be segregated from other funds except to the extent required by law. 
 If the
Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 401 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 applicable series of Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 401 until such time as the
Trustee or Paying Agent is permitted to apply all such money or Government Securities in accordance with Section 401; provided that if the Company has made any payment of principal of, premium, if any, or interest on any Notes because of
the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 

ARTICLE Five 
 REMEDIES 
 SECTION
501.        Events of Default. 
 “Event of Default,” wherever used
herein, means one of the following events with respect to the Notes of a particular series (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): 
 (1)    default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if any, on the Notes of such series issued under this
Indenture; 
 (2)    default for 30 days or more in the payment when due of interest on or
with respect to the Notes of such series issued under this Indenture; 
 (3)    failure by
the Company for 60 days after receipt of written notice given by the Trustee or the Holders of at least 25% in principal amount of the Notes of such series then outstanding and issued under this Indenture to comply with any of its other agreements
in this Indenture or the Notes of such series; 
 (4)    default under any mortgage,
indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary or the payment of which is guaranteed by the Company or any Restricted
Subsidiary, other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such Indebtedness or guarantee now exists or is created after the issuance of the Notes, if both 

  
 -55- 








 (A)    such default either (x) results from the
failure to pay any such Indebtedness at its stated final maturity (after giving effect to any applicable grace periods) or (y) relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final
maturity and results in the holder or holders of such Indebtedness causing such Indebtedness to become due prior to its stated maturity; and 
 (B)    the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal at stated final maturity
(after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate $50.0 million or more at any one time outstanding; 

(5)    failure by the Company or any Significant Subsidiary to pay final judgments aggregating in
excess of $50.0 million, which final judgments remain unpaid, undischarged and unstayed for a period of more than 60 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been
commenced by any creditor upon such judgment or decree which is not promptly stayed; or 

(6)    any of the following events with respect to the Company or any Significant Subsidiary:

 (A)    the Company or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law 
 (i)    commences a voluntary case; 

(ii)    consents to the entry of an order for relief against it in an involuntary case; 

(iii)    consents to the appointment of a custodian of it or for any substantial part of its
property; 
 (iv)    takes any comparable action under any foreign laws relating to
insolvency; or 
 (B)    a court of competent jurisdiction enters an order or decree under
any Bankruptcy Law that: 
 (i)    is for relief against the Company or any Significant
Subsidiary in an involuntary case; 
 (ii)    appoints a custodian of the Company or any
Significant Subsidiary or for any substantial part of its property; or 
 (iii)    orders
the winding up or liquidation of the Company or any Significant Subsidiary; 
 (7)    and
the order or decree remains undischarged, unstayed or unremedied and in effect for 60 consecutive days. 

  
 -56- 








 SECTION 502.        Acceleration of Maturity;
Rescission and Annulment. 
 If an Event of Default (other than an Event of Default specified in Section 501(6) above)
with respect to the Notes of a particular series occurs and is continuing, then and in every such case the Trustee or the Holders of at least 25% in principal amount of the Outstanding Notes of such series issued under this Indenture may declare the
principal, premium, if any, interest and any other monetary obligations on all the Outstanding Notes of such series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders). 

Upon the effectiveness of such declaration, such principal and interest will be due and payable immediately. Notwithstanding the
foregoing, if an Event of Default specified in Section 501(6) above occurs and is continuing, then the principal amount of all Outstanding Notes of both series shall ipso facto become and be immediately due and payable without any notice,
declaration or other act on the part of the Trustee or any Holder. 
 At any time after a declaration of acceleration has been
made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in this Article, the Holders of a majority in aggregate principal amount of the Outstanding Notes of a particular series, by
written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences except a continuing Default or Event of Default in the payment of interest on, premium and Special Interest, if any, or the principal of any
such Note held by a non-consenting Holder. No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 Notwithstanding the preceding paragraph, in the event of any Event of Default specified in Section 501(4) above with respect to the Notes of a particular series, such Event of Default and all
consequences thereof (excluding any resulting payment default, other than as a result of the acceleration of such series of Notes) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within
20 days after such Event of Default arose, 
 (x)    the Indebtedness or guarantee that is
the basis for such Event of Default has been discharged, or 
 (y)    the holders thereof
have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default, or 
 (z)    if the default that is the basis for such Event of Default has been cured. 
 SECTION 503.        Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if an Event of Default specified in Section 501(1) or 501(2) hereof occurs and is continuing with respect
to a particular series of Notes, the Company will, upon demand of the Trustee, pay to the Trustee for the benefit of the Holders of such Notes, the whole amount then due and payable on such Notes for principal (and premium, if any) and interest, and
interest on any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, upon any overdue installment of interest, at the rate borne by such Notes, and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon the Notes of such series and collect
the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Notes, wherever situated. 

  
 -57- 








 If an Event of Default occurs and is continuing with respect to a particular series of
Notes, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders under this Indenture and the Note Guarantees by such appropriate judicial proceedings as the Trustee shall deem necessary 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. 

SECTION 504.        Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor, upon the Notes or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Notes 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 on the Company for the payment of overdue principal, premium, if any, or interest) shall be entitled and empowered, by
intervention in such proceeding or otherwise, 
 (i)    to file and prove a claim for the
whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(ii)    to collect and receive any moneys or other property payable or deliverable on any such claims
and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee hereunder. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 505.        Trustee May Enforce Claims Without Possession of Notes. 
 All rights of action and claims under this Indenture or the Notes may be prosecuted and enforced by the Trustee without the possession of any of the Notes or the production thereof in any proceeding
relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name and as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which such judgment has been recovered. 

  
 -58- 








 SECTION 506.        Application of Money
Collected. 
 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, upon presentation of the Notes and the notation thereon of the payment if only partially paid and upon
surrender thereof if fully paid: 
 FIRST: To the payment of all amounts due the Trustee (in its capacity
as Trustee, Paying Agent and/or Note Registrar, as applicable) under Section 607; 
 SECOND: To the
payment of the amounts then due and unpaid for principal of (and premium, if any) and interest on the Notes in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according
to the amounts due and payable on such Notes for principal (and premium, if any) and interest, respectively; and 
 THIRD: The balance, if any, to the Company or any other obligor on the Notes, as their interests may appear or as a court of competent jurisdiction may direct in writing; provided that all
sums due and owing to the Holders and the Trustee have been paid in full as required by this Indenture. 
 SECTION
507.        Limitation on Suits. 
 No Holder of any Notes of either series shall
have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 

(1)    such Holder has previously given written notice to the Trustee of a continuing Event of
Default; 
 (2)    the Holders of not less than 25% in principal amount of the Outstanding
Notes of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3)    such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to it
against the costs, expenses and liabilities to be incurred in compliance with such request; 

(4)    the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has
failed to institute any such proceeding; and 
 (5)    no direction inconsistent with such
written request has been given to the Trustee during such 60-day period by the Holders of a majority or more in principal amount of the Outstanding Notes of such series; 
 it being understood and intended that no one or more Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture or the Note Guarantees to affect,
disturb or prejudice the rights of any other Holders, or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture or the Note Guarantees, except in the manner herein provided and for
the equal and ratable benefit of all the Holders (it being further understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 

  
 -59- 








 SECTION 508.        Unconditional Right of
Holders To Receive Principal, Premium and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of
any Note shall have the right, which is absolute and unconditional, to receive payment, as provided herein (including, if applicable, Article Eleven) and in such Note of the principal of (and premium, if any) and (subject to Section 307)
interest on such Note on the respective Stated Maturities expressed in such Note (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the
consent of such Holder. 
 SECTION 509.        Restoration of Rights and
Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture
or the Note Guarantees and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the
Company, any other obligor of the Notes, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no
such proceeding had been instituted. 
 SECTION 510.        Rights and Remedies
Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Notes in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 SECTION
511.        Delay or Omission Not Waiver. 
 No delay or omission of the Trustee
or of any Holder of any Note to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

SECTION 512.        Control by Holders. 

The Holders of not less than a majority in principal amount of the Outstanding Notes of a particular series shall have the right to
direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series, provided that: 

(1)    such direction shall not be in conflict with any rule of law or with this Indenture,

 (2)    subject to Section 315 of the Trust Indenture Act, the Trustee may take any
other action deemed proper by the Trustee which is not inconsistent with such direction, and 

  
 -60- 








 (3) the Trustee need not take any action which might involve it in personal
liability or be unjustly prejudicial to the Holders of such series not consenting. 
 SECTION
513.        Waiver of Past Defaults. 
 Subject to Sections 502, 508 and 902, the
Holders of not less than a majority in principal amount of the Outstanding Notes of a particular series may on behalf of the Holders of all such Notes waive any past Default hereunder and its consequences, except a continuing Default or Event of
Default (1) in respect of the payment of interest on, premium, if any, or the principal of any such Note held by a non-consenting Holder, or (2) in respect of a covenant or provision hereof which under Article Nine cannot be modified or
amended without the consent of the Holder of each Outstanding Note affected. 
 Upon any such waiver, such Default shall cease
to exist with respect to such series of Notes, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default
or impair any right consequent thereon. 
 SECTION 514.        Waiver of Stay or
Extension Laws. 
 Each of the Company and any other obligor on the Notes covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and each of the Company and any other obligor on the Notes (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or
impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE Six 
 THE TRUSTEE 

SECTION 601.        Duties of the Trustee. 

(a)    Except during the continuance of a Default or an Event of Default, 

(1)    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; and 
 (2)    in the absence of bad faith or willful misconduct 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 specifically required by any provision hereof to be provided to it, 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 not to verify the contents thereof. 
 (b)    In case a Default or an Event of Default has occurred and is continuing of which a Responsible Officer of the Trustee has actual knowledge or of which written notice of such
Default or Event of Default shall have been given to the Trustee by the Company, any other obligor of the Notes or by any Holder, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of
care and skill in their exercise, as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs. 

  
 -61- 








 (c)    No provision of this Indenture shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 
 (1)    this paragraph (c) shall not be construed to limit the effect of paragraph (a) of this Section; 

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

(3)    the Trustee shall not be liable with respect to any action taken or omitted to be taken by it
in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Notes 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; and 

(4)    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. 
 (d)    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. 

SECTION 602.        Notice of Defaults. 

Within thirty days after the earlier of receipt from the Company of notice of the occurrence of any Default or Event of Default with
respect to a particular series of Notes hereunder or the date when such Default or Event of Default becomes known to the Trustee, the Trustee shall transmit, in the manner and to the extent provided in TIA Section 313(c), notice of such Default
or Event of Default hereunder known to the Trustee, unless such Default or Event of Default shall have been cured or waived; provided, however, that, except in the case of a Default or Event of Default in the payment of the principal
of (or premium, if any, on) or interest on any Note, the Trustee shall be protected in withholding such notice if and so long as a trust committee of Responsible Officers of the Trustee in good faith determine that the withholding of such notice is
in the interest of the Holders of such series of Notes. 
 SECTION
603.        Certain Rights of Trustee. 
 Subject to the provisions of TIA
Sections 315(a) through 315(d): 
 (1)    the Trustee may conclusively rely and shall be
fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or
document (whether in original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (2)    any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors may
be sufficiently evidenced by a Board Resolution; 

  
 -62- 








 (3)    whenever in the administration of this Indenture
the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its
part, rely upon an Officers’ Certificate; 
 (4)    the Trustee may consult with
counsel of its own selection and the advice of such counsel or any Opinion of Counsel with respect to legal matters relating to this Indenture and the Notes shall be full and complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (5)    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 this Indenture, unless such Holders shall have offered to the Trustee security
or indemnity reasonably satisfactory to it against the costs, expenses, losses and liabilities which might be incurred by it in compliance with such request or direction; 

(6)    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, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company,
personally or by agent or attorney at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation; 
 (7)    the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (8)    the Trustee shall not be liable for any action taken, suffered or omitted 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; 
 (9)    the rights, privileges, protections,
immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person
employed to act hereunder; 
 (10)    the Trustee may request that the Company deliver an
Officers’ Certificate substantially in the Form of Exhibit F hereto setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate
may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; 

(11)    in no event shall the Trustee be responsible or liable for special, indirect, 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; and 

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

  
 -63- 








 The Trustee shall not be required 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. 
 The Trustee shall not be deemed to have notice or knowledge of any Default or
Event of Default unless a Responsible Officer of the Trustee has received written notice of any event which is in fact such a Default or Event of Default at the Corporate Trust Office of the Trustee, and such notice references the Notes and this
Indenture. 
 SECTION 604.        Trustee Not Responsible for Recitals or Issuance of
Notes. 
 The recitals contained herein and in the Notes, except for the Trustee’s certificates of authentication,
shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes, except that the Trustee
represents that it is duly authorized to execute and deliver this Indenture, authenticate the Notes and perform its obligations hereunder and that the statements made by it in a “Statement of Eligibility” on Form T-1 supplied to the
Company are true and accurate, subject to the qualifications set forth therein. The Trustee shall not be accountable for the use or application by the Company of Notes or the proceeds thereof. 

SECTION 605.        May Hold Notes. 

The Trustee, any Paying Agent, any Note Registrar or any other agent of the Company or of the Trustee, in its individual or any other
capacity, may become the owner or pledgee of either series of Notes and, subject to TIA Sections 310(b) and 311, may otherwise deal with the Company with the same rights it would have if it were not the Trustee, Paying Agent, Note Registrar or such
other agent; provided, however, that, if it acquires any conflicting interest, it must eliminate such conflict within 90 days, apply to the Commission for permission to continue or resign. 

SECTION 606.        Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee
shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 
 SECTION 607.        Compensation and Reimbursement. 
 The Company agrees: 
 (1)    to pay to the
Trustee from time to time such compensation as shall be agreed in writing between the Company and the Trustee for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of
a trustee of an express trust); 
 (2)    except as otherwise expressly provided herein, to
reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and
disbursements of its agents and counsel), except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or willful misconduct; and 

(3)    to indemnify the Trustee and its officers, directors, agents and employees and any predecessor
Trustee for, and to hold it harmless against, any and all loss, liability, claim, damage or expense, 

  
 -64- 








 
including taxes (other than the taxes based on the income of the Trustee) incurred without negligence or willful misconduct on its part, arising out of or in connection with the acceptance or
administration of this trust, including the costs and expenses of defending itself against any claim regardless of whether the claim is asserted by the Company, a Holder or any other Person or liability in connection with the exercise or performance
of any of its powers or duties hereunder. The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company will not relieve the Company of its obligations hereunder. The
Company will defend the claim and the Trustee will cooperate in the defense. The Trustee shall have the right to employ separate counsel at the expense of the Company if in the judgment of the Trustee (i) a conflict of interest exists by reason
of common representation, (ii) there are legal defenses available to the Trustee that are different from or in addition to those available to the Company or (iii) if all parties commonly represented do not agree to the action (or inaction)
of counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee
through the Trustee’s own willful misconduct or negligence. 
 The obligations of the Company under this Section to
compensate the Trustee, to pay or reimburse the Trustee for expenses, disbursements and advances and to indemnify and hold harmless the Trustee shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of
this Indenture and resignation or removal of the Trustee. As security for the performance of such obligations of the Company, the Trustee shall have a claim prior to the Notes upon all property and funds held or collected by the Trustee as such,
except funds held in trust for the payment of principal of (and premium, if any) or interest on particular Notes. 
 When the
Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 501(6), the expenses (including the reasonable charges and expenses of its counsel) of and the compensation for such services are intended
to constitute expenses of administration under any applicable Federal or State bankruptcy, insolvency or other similar law. 

The provisions of this Section shall survive the termination of this Indenture, the resignation or removal of the Trustee and the
satisfaction and discharge of this Indenture. 
 SECTION 608.        Corporate
Trustee Required; Eligibility. 
 There shall be at all times a Trustee hereunder which shall be eligible to act as Trustee
under TIA Sections 310(a)(1), (2) and (5) and shall have a combined capital and surplus of at least $150,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of Federal,
State, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its
most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this
Article. 
 SECTION 609.        Resignation and Removal; Appointment of
Successor. 
 (a)    No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 610. 

(b)    The Trustee may resign at any time by giving written notice thereof to the Company. Upon receiving such notice
of resignation, the Company shall promptly appoint a successor trustee by written instrument executed by authority of the Board of Directors, a copy of which shall be delivered to the resigning Trustee and a copy to the successor trustee. If the
instrument of acceptance by a successor Trustee required by Section 610 

  
 -65- 








 
shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of
competent jurisdiction for the appointment of a successor Trustee. 
 (c)    The Trustee may be removed at
any time by Act of the Holders of not less than a majority in principal amount of such series of Outstanding Notes, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 610
shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor
Trustee. 
 (d)    If at any time: 

(1)    the Trustee shall fail to comply with the provisions of TIA Section 310(b) after written
request therefor by the Company or by any Holder who has been a bona fide Holder of a Note for at least six months, or 
 (2)    the Trustee shall cease to be eligible under Section 608 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide
Holder of a Note for at least six months, or 
 (3)    the Trustee shall become incapable of
acting 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, (i) the Company, by a Board Resolution, may remove the Trustee, or
(ii) subject to TIA Section 315(e), any Holder who has been a bona fide Holder of a Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of
the Trustee and the appointment of a successor Trustee. 
 (e)    If the Trustee shall resign, be removed or
become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, the Company shall promptly appoint a successor Trustee. If, within one year after such resignation, removal or incapability, or the occurrence of such
vacancy, a successor Trustee shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Notes of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith
upon its acceptance of such appointment, become the successor Trustee and supersede the successor Trustee appointed by the Company. If no successor Trustee shall have been so appointed by the Company or the Holders and accepted appointment in the
manner hereinafter provided, any Holder who has been a bona fide Holder of a Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor
Trustee. 
 (f)    The Company shall give notice of each resignation and each removal of the Trustee and
each appointment of a successor Trustee to the Holders in the manner provided for in Section 106. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. 

SECTION 610.        Acceptance of Appointment by Successor. 

(a)    Every successor Trustee appointed hereunder shall execute, acknowledge and deliver to the Company and to the
retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all
the rights, powers, trusts and duties of the retiring Trustee; but, on request 

  
 -66- 








 
of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers
and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. Upon request of any such successor Trustee, the Company shall execute any and
all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts. The retiring Trustee shall have no responsibility or liability for the action or inaction of any successor Trustee.

 (b)    Upon request of any such successor Trustee, the Company shall execute any and all instruments for
more fully and certainly vesting in and confirming to such successor Trustee all rights, powers and trusts referred to in paragraph (a) of this Section. 
 (c)    No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 

SECTION 611.        Merger, Conversion, Consolidation or Succession to Business.

 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder,
provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Notes shall have been authenticated,
but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Notes so authenticated with the same effect as if such successor
Trustee had itself authenticated such Notes. In case at that time any of the Notes shall not have been authenticated, any successor Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor
Trustee. In all such cases such certificates shall have the full force and effect which this Indenture provides for the certificate of authentication of the Trustee shall have; provided, however, that the right to adopt the certificate
of authentication of any predecessor Trustee or to authenticate Notes in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 

SECTION 612.        Appointment of Authenticating Agent. 

At any time when any of the Notes remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with respect to the Notes
which shall be authorized to act on behalf of the Trustee to authenticate Notes and the Trustee shall give written notice of such appointment to all Holders of Notes with respect to which such Authenticating Agent will serve, in the manner provided
for in Section 106. Notes so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be evidenced by an
instrument in writing signed by a Responsible Officer of the Trustee, and a copy of such instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication and delivery of Notes 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 an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by
an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any state thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $150,000,000 and subject to supervision or examination by Federal or state authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the
effect specified in this Section. 

  
 -67- 








 Any corporation into which an Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all the corporate agency or corporate trust
business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the
Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the
Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof 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 such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall
give written notice of such appointment to all Holders of Notes, in the manner provided for in Section 106. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and
duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 

The Company agrees to pay to each Authenticating Agent from time to time such compensation for its services under this Section as shall
be agreed in writing between the Company and such Authenticating Agent. 
 If an appointment is made pursuant to this Section,
the Notes 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 [2017]/[2020] Notes designated therein referred to in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	[            ], as Authenticating Agent
		
	By:	 	  

		 	as Authorized Signatory


 SECTION 613.        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, without limitation, 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. 

  
 -68- 








 ARTICLE Seven 
 HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION
701.        Company To Furnish Trustee Names and Addresses. 
 The Trustee will
preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders of each series of Notes and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar,
the Company will furnish to the Trustee at least seven Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of
the names and addresses of the Holders of Notes of each series and the Company shall otherwise comply with TIA § 312(a). 

SECTION 702.        Disclosure of Names and Addresses of Holders. 

Every Holder of Notes, by receiving and holding the same, agrees with the Company and the Trustee that none of the Company or the Trustee
or any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with TIA Section 312, regardless of the source from which such information
was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under TIA Section 312(b). 
 SECTION 703.        Reports by Trustee. 
 Within 60 days after May 15 of each year commencing with the first May 15 after the first issuance of Notes pursuant to this Indenture, the Trustee shall transmit to the Holders of Notes (with a
copy to the Company at the Place of Payment), in the manner and to the extent provided in TIA Section 313(c), a brief report dated as of such May 15 if required by TIA Section 313(a). 

ARTICLE Eight 
 AMALGAMATION, MERGER, CONSOLIDATION OR 
 SALE OF ALL OR SUBSTANTIALLY ALL
ASSETS 
 SECTION 801.        Company May Consolidate, Etc., Only on Certain
Terms. 
 The Company may not consolidate, amalgamate or merge with or into or wind up into (whether or not the Company is
the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person unless: 

(1)    the Company is the surviving corporation or the Person formed by or surviving any such
consolidation, amalgamation or merger (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a Person organized or existing under the laws of a Permitted Jurisdiction
(such Person, as the case may be, being herein called the “Successor Company”); 

(2)    the Successor Company, if other than the Company, expressly assumes all the obligations of the
Company under this Indenture and the Notes pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 

(3)    immediately after such transaction no Default or Event of Default exists; 

  
 -69- 








 (4)    immediately after giving pro forma effect
to such transaction, as if such transaction had occurred at the beginning of the applicable four-quarter period, 
 (A)    the Successor Company would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 1011(a) or

 (B)    the Fixed Charge Coverage Ratio for the Successor Company and the Restricted
Subsidiaries would be greater than such ratio for the Company and the Restricted Subsidiaries immediately prior to such transaction; and 
 (5)    the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer
and such supplemental indentures, if any, comply with this Indenture and, if a supplemental indenture is required in connection with such transaction, such supplement shall comply with the applicable provisions of this Indenture. 

The Successor Company shall succeed to, and be substituted for the Company under this Indenture and the Notes. Notwithstanding the
foregoing clauses (3) and (4), 
 (a)    any Restricted Subsidiary may consolidate
with, amalgamate or merge into or transfer all or part of its properties and assets to the Company; and 

(b)    the Company may amalgamate or merge with an Affiliate incorporated solely for the purpose of
reincorporating the Company in any Permitted Jurisdiction so long as the amount of Indebtedness of the Company and the Restricted Subsidiaries is not increased thereby. 
 SECTION 802.        Successor Substituted. 
 Upon any consolidation, amalgamation or merger, or any sale, assignment, conveyance, transfer, lease or disposition of all or substantially all of the assets of the Company in accordance with Sections 801
hereof, the successor Person formed by such consolidation or into which the Company, as the case may be, is amalgamated or merged or the successor Person to which such sale, assignment, conveyance, transfer, lease or disposition is made, shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture and/or the Note Guarantees, as the case may be, with the same effect as if such successor Person had been named as the Company herein
and/or the Note Guarantees, as the case may be. When a successor Person assumes all obligations of its predecessor hereunder, the Notes, as the case may be, such predecessor shall be released from all obligations; provided that in the event
of a transfer or lease, the predecessor shall not be released from the payment of principal and interest or other obligations on the Notes or the Note Guarantees, as the case may be. 

ARTICLE Nine 
 SUPPLEMENTAL INDENTURES 
 SECTION
901.        Amendments or Supplements Without Consent of Holders. 
 Without the
consent of any Holders of either series of Notes, the Company and the Trustee, at any time and from time to time, may amend or supplement this Indenture or the Notes of either series for any of the following purposes: 

(1)    to cure any ambiguity, omission, mistake, defect or inconsistency; 

(2)    to provide for uncertificated Notes in addition to or in place of certificated Notes;


  
 -70- 








 (3)    to comply with Article Eight hereof; 

(4)    to provide for the assumption of the Company’s obligations to Holders; 

(5)    to make any change that would provide any additional rights or benefits to the Holders or that
does not adversely affect the rights under this Indenture of any such Holder; 
 (6)    to
add covenants for the benefit of the Holders or to surrender any right or power conferred in this Indenture upon the Company; 
 (7)    to comply with requirements of the Commission in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; 

(8)    to evidence and provide for the acceptance and appointment under this Indenture of a successor
Trustee pursuant to the requirements of Sections 609 and 610; 
 (9)    to provide for the
issuance of exchange notes of either series or private exchange notes of either series, which are identical to exchange notes except that they are not freely transferable; 

(10)    to add guarantees of the Notes under this Indenture in accordance with the terms of this
Indenture; or 
 (11)    to conform the text of this Indenture or the Notes to any provision
of the “Description of the Notes” section of the Offering Circular to the extent that such provision in the “Description of the Notes” was intended to be a verbatim recitation of a provision of this Indenture or the Notes.

 SECTION 902.        Amendments, Supplements or Waivers with Consent of
Holders. 
 With the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes of a
particular series, by Act of such Holders delivered to the Company and the Trustee, the Company and the Trustee may amend or supplement this Indenture, any Note Guarantee or the Notes of such series for the purpose of adding any provisions hereto or
thereto, changing in any manner or eliminating any of the provisions or of modifying in any manner the rights of the Holders of such series hereunder or thereunder and any existing Default, Event of Default or compliance with any provision of this
Indenture or the Notes of such series may be waived with the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes of such series (including, without limitation, consents obtained in connection with a
purchase of or tender offer or exchange offer for Notes); provided, however, that no such amendment, supplement or waiver with respect to a particular series of Notes shall, without the consent of the Holder of each Outstanding Note of
such series affected thereby: 
 (1)    reduce the principal amount of Notes of such series
whose Holders must consent to an amendment, supplement or waiver, 
 (2)    reduce the
principal of or change the Maturity of any Note of such series or alter or waive the provisions with respect to the redemption of the Notes of such series (other than Sections 1016 and 1017), 

(3)    reduce the rate of or change the time for payment of interest on any Note of such series,

 (4)    waive a Default or Event of Default in the payment of principal of or premium, if
any, or interest on the Notes of such series issued under this Indenture, except a rescission of acceleration of the Notes of such series by the Holders of at least a majority in aggregate principal amount of the Notes of such


  
 -71- 








 
series and a waiver of the payment default that resulted from such acceleration, or in respect of a covenant or provision contained in this Indenture which cannot be amended or modified without
the consent of all Holders, 
 (5)    make any Note of such series payable in money other
than that stated in the Notes of such series, 
 (6)    make any change in Section 513
or the rights of Holders to receive payments of principal of or premium, if any, or interest on the Notes of such series, 
 (7)    make any change in these amendment and waiver provisions with respect to Notes of such series, 

(8)    impair the right of any Holder to receive payment of principal of, or interest on such
Holder’s Notes of such series on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes of such series, or 

(9)    make any change to or modify the ranking of the Notes of such series that would adversely
affect the Holders of such series. 
 It is not necessary for the consent of the Holders of the Notes under this
Section 902 to approve the particular form of any proposed amendment, but it is sufficient if such consent approves the substance thereof. 
 SECTION 903.        Execution of Amendments, Supplements or Waivers. 
 In executing, or accepting the additional trusts created by, any amendment, supplement or waiver permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee
shall be provided with, and shall be fully protected in relying upon, an Officers’ Certificate and Opinion of Counsel stating that the execution of such amendment, supplement or waiver is authorized or permitted by this Indenture and that such
amendment, supplement or waiver constitutes the legal, valid, binding and enforceable obligations of the parties (other than the Trustee) signing such amendment. The Trustee may, but shall not be obligated to, enter into any such amendment,
supplement or waiver which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

SECTION 904.        Effect of Amendments, Supplements or Waivers. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such
amendment, supplement or waiver shall form a part of this Indenture for all purposes; and every Holder of Notes of such series theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

SECTION 905.        Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to the Article shall conform to the requirements of the Trust Indenture Act as then in
effect. 
 SECTION 906.        Reference in Notes to Supplemental Indentures.

 Notes authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as to any 

  
 -72- 








 
matter provided for in such supplemental indenture. If the Company shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental
indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Notes. Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such
amendment, supplement or waiver. 
 SECTION 907.        Notice of Supplemental
Indentures. 
 Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the
provisions of Section 902, the Company shall give notice thereof to the Holders of each Outstanding Note affected, in the manner provided for in Section 106, briefly setting forth in general terms the substance of such supplemental
indenture. Any failure of the Company to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. 

SECTION 908.        Payment for Consent. 

Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by
way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture, the Notes or the Registration Rights Agreement unless such consideration is offered to
all Holders and is paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. 

ARTICLE Ten 
 COVENANTS 
 SECTION
1001.        Payment of Principal, Premium, if Any, and Interest. 
 The Company
covenants and agrees for the benefit of the Holders that it will duly and punctually pay the principal of (and premium, if any) and interest and Special Interest, if any, on the Notes of each series in accordance with the terms of such Notes and
this Indenture. 
 SECTION 1002.        Maintenance of Office or Agency.

 The Company will maintain in the continental United States, an office or agency where Notes may be presented or surrendered
for payment, where Notes may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The designated office of the Trustee shall be such
office or agency of the Company, unless the Company shall designate and maintain some other office or agency for one or more of such purposes. The Company will give prompt written notice to the Trustee of any change in the location of any such
office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the
Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind any
such designation; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the Continental United States for such purposes. The Company will
give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. 

  
 -73- 








 SECTION 1003.        Money for Notes Payments To
Be Held in Trust. 
 If the Company or a Wholly-Owned Subsidiary of the Company shall at any time act as its own Paying
Agent, it will, on or before each due date of the principal of (or premium, if any) or Special Interest, if any, or interest on any of the Notes, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the
principal of (or premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents for the Notes, it will, on or before each due date of the principal of (or
premium, if any) or interest on any Notes, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal,
premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of such action or any failure so to act. 
 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: 
 (1)    hold all sums held by it for the
payment of the principal of (and premium, if any) or interest on Notes in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 

(2)    give the Trustee notice of any default by the Company (or any other obligor upon the Notes) in
the making of any payment of principal (and premium, if any) or interest; and 
 (3)    at
any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee
all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the
Trustee, such Paying Agent shall be released from all further liability with respect to such sums. 
 Any money deposited with
the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (or premium, if any) or interest on any Note and remaining unclaimed for two years after such principal, premium or interest has become due
and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment
thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as Trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, shall at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough
of Manhattan, The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be
repaid to the Company. 

  
 -74- 








 SECTION 1004.        Corporate Existence.

 Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and
effect its corporate existence and that of each Restricted Subsidiary and the corporate rights (charter and statutory) and franchises of the Company and each Restricted Subsidiary; provided, however, that the Company shall not be
required to preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries as a whole. 

SECTION 1005.        Payment of Taxes and Other Claims. 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (a) all material
taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary and (b) all material lawful claims for labor, materials and supplies,
which, if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment,
charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings and for which appropriate reserves, if necessary (in the good faith judgment of management of the Company) are being maintained in
accordance with GAAP. 
 SECTION 1006.        Maintenance of Properties.

 The Company will cause all properties owned by the Company or any Restricted Subsidiary or used or held for use in the
conduct of its business or the business of any Restricted Subsidiary to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided,
however, that nothing in this Section shall prevent the Company from discontinuing the maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the business
of any Restricted Subsidiary. 
 SECTION 1007.        Insurance. 

(a)    The Company will at all times keep all of its and its Subsidiaries’ properties which are of an insurable
nature insured with insurers, believed by the Company to be responsible (including, to the extent consistent with past practice, self-insurance), against loss or damage to the extent that property of similar character is usually so insured by
corporations similarly situated and owning like properties. 
 (b)    In connection with the
covenants set forth in this Section 1007, it is understood and agreed that: 

(i)    none of the Trustee nor its respective agents or employees shall be liable for any loss or
damage insured by the insurance policies required to be maintained under this Section 1007, it being understood that (A) the Company shall look solely to its insurance companies or any other parties other than the aforesaid parties for the
recovery of such loss or damage and (B) such insurance companies shall have no rights of subrogation against the Trustee, or its agents or employees. If, however, the insurance policies do not provide waiver of subrogation rights against such
parties, as required above, then the Company hereby agrees, to the extent permitted by law, to waive, its right of recovery, if any, against the Trustee and the Noteholder and its agents and employees; and 

  
 -75- 








 (ii)    the designation of any form, type or amount of
insurance coverage by the Trustee under this Section 1007 shall in no event be deemed a representation, warranty or advice by the Trustee that such insurance is adequate for the purposes of the business of Company or the protection of its
properties. 
 SECTION 1008.        Statement by Officers as to Default.

 (a)    The Company will deliver to the Trustee within 120 days after the end of each fiscal year, an
Officers’ Certificate stating that a review of the activities of the Company and its Restricted Subsidiaries during the preceding fiscal year has been made under the supervision of the signing officers with a view to determining whether it has
kept, observed, performed and fulfilled, and has caused each of its Restricted Subsidiaries to keep, observe, perform and fulfill its obligations under this Indenture and further stating, as to each such officer signing such certificate, that, to
the best of his or her knowledge, the Company during such preceding quarter or the preceding fiscal year, as the case may be, has kept, observed, performed and fulfilled, and has caused each of its Restricted Subsidiaries to keep, observe, perform
and fulfill each and every such covenant contained in this Indenture and no Default or Event of Default occurred during such year and at the date of such certificate there is no Default or Event of Default which has occurred and is continuing or, if
such signers do know of such Default or Event of Default, the certificate shall describe its status, with particularity and that, to the best of his or her knowledge, no event has occurred and remains by reason of which payments on the account of
the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action each is taking or proposes to take with respect thereto. The Officers’ Certificate shall also notify the
Trustee should the Company elect to change the manner in which it fixes its fiscal year-end. For purposes of this Section 1008(a), such compliance shall be determined without regard to any period of grace or requirement of notice under this
Indenture. 
 (b)    (i) When any Default or Event of Default has occurred and is continuing under this
Indenture, or (ii) if the trustee for or the holder of any other evidence of Indebtedness of the Company or any Restricted Subsidiary gives any notice or takes any other action with respect to a claimed default (other than with respect to
Indebtedness in the principal amount of less than $50,000,000), the Company shall deliver to the Trustee by registered or certified mail or facsimile transmission an Officers’ Certificate specifying such event, notice or other action within
five Business Days of any Officer becoming aware of the foregoing. 
 SECTION
1009.        Reports and Other Information. 
 Notwithstanding that the Company
may not be subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations
promulgated by the Securities and Exchange Commission, the Company shall file with the Commission (and make available to the Trustee and Holders (without exhibits), without cost to each Holder, within 15 days after it files them with the
Commission): 
 (i)    within 90 days (or any time period then in effect under the rules and
regulations of the Exchange Act for a non-accelerated filer) plus any grace period provided by Rule 12b-25 under the Exchange Act, after the end of each fiscal year, annual reports on Form 10-K, or any successor or comparable form, containing the
information required to be contained therein, or required in such successor or comparable form; 

(ii)    within 45 days (or any time period then in effect under the rules and regulations of the
Exchange Act) plus any grace period provided by Rule 12b-25 under the Exchange Act, after the end of each of the first three fiscal quarters of each fiscal year, reports on Form 10-Q, containing the information required to be contained therein, or
any successor or comparable form; 
 (iii)    promptly from time to time after the
occurrence of an event required to be therein reported, such other reports on Form 8-K, or any successor or comparable form; and 

  
 -76- 








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

 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 1010.
        Limitation on Restricted Payments. 
 (a)
    The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly: 
 (1)     declare or pay any dividend or make any distribution on account of the Company’s or any Restricted Subsidiary’s Equity Interests, including any dividend or
distribution payable in connection with any amalgamation, merger or consolidation other than: 
 (A)
    dividends or distributions by the Company payable in Equity Interests (other than Disqualified Stock) of the Company or in options, warrants or other rights to purchase such Equity Interests; or 

(B)     dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend
or distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned Subsidiary, the Company or a Restricted Subsidiary receives at least its pro rata share of such dividend
or distribution in accordance with its Equity Interests in such class or series of securities; 
 (2)
    purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of the Company, including in connection with any amalgamation, merger or consolidation; 

(3)     make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire
for value in each case, prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness other than 
 (x)     the purchase, repurchase or other acquisition of Subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment or final
maturity, in each case due within one year of the date of purchase, repurchase or acquisition; and 
 (y)
    Indebtedness of the Company to a Restricted Subsidiary or a Restricted Subsidiary to the Company or another Restricted Subsidiary; or 
 (4)     make any Restricted Investment; 

  
 -77- 








 (all such payments and other actions set forth in clauses (1) through (4) above being collectively
referred to as “Restricted Payments”), unless, at the time of such Restricted Payment: 
 (A)
    no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; 
 (B)     immediately after giving effect to such transaction on a pro forma basis, the Company could incur $1.00 of additional Indebtedness under Section 1011(a); and 

(C)     such Restricted Payment, together with the aggregate amount of all other Restricted Payments
made by the Company and its Restricted Subsidiaries after the Issue Date (including Restricted Payments permitted by clauses (1) and (14) (with respect to the payment of dividends on Refunding Capital Stock pursuant to clause
(B) thereof only) of Section 1010(b), but excluding all other Restricted Payments permitted by Section 1010(b)), is less than the sum of: 
 (1)     50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from the beginning of the first fiscal quarter commencing immediately
preceding the Issue Date, to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment, or, in the case such Consolidated Net Income for such period
is a deficit, minus 100% of such deficit, plus 
 (2)     100% of the aggregate net
cash proceeds and the Fair Market Value of marketable securities or other property received by the Company since immediately after the Issue Date (other than net cash proceeds to the extent such net cash proceeds have been used to incur
Indebtedness, Disqualified Stock or preferred stock pursuant to Section 1011(b)(12) from the issue or sale of: 
 (x)     Equity Interests of the Company, excluding cash proceeds and the Fair Market Value of marketable securities or other property received from the sale of: 

(A)     Equity Interests to members of management, directors or consultants of the Company and the
Company’s Subsidiaries after the Issue Date to the extent such amounts have been applied to Restricted Payments made in accordance with Section 1010(b)(3) and 

(B)     Designated Preferred Stock or 

(y)     debt securities, Designated Preferred Stock or Disqualified Stock of the Company or any
Restricted Subsidiary that has been converted into or exchanged for such Equity Interests of the Company; provided, however, that this clause (2) shall not include the proceeds from (a) Refunding Capital Stock (as defined below),
(b) Equity Interests or converted or exchanged debt securities of the Company sold to a Restricted Subsidiary or the Company, as the case may be, (c) Disqualified Stock or debt securities that have been converted into or exchanged for
Disqualified Stock or (d) Excluded Contributions, plus 
 (3)     100% of the aggregate
amount of cash and the Fair Market Value, of marketable securities or other property contributed to the capital of the Company following the Issue Date (other than net cash proceeds to the extent such net cash proceeds have been used to incur
Indebtedness, Disqualified Stock or preferred stock pursuant to Section 1011(b)(12)) (other than by a Restricted Subsidiary and other than by any Excluded Contributions), plus 

  
 -78- 








 (4)     100% of the aggregate amount received in cash
and the Fair Market Value, of marketable securities or other property received by the Company or a Restricted Subsidiary by means of 
 (A)     the sale or other disposition (other than to the Company or a Restricted Subsidiary) of Restricted Investments made by the Company and its Restricted Subsidiaries and
repurchases and redemptions of such Restricted Investments from the Company and its Restricted Subsidiaries and repayments of loans or advances which constitute Restricted Investments by the Company and its Restricted Subsidiaries, in each case
after the Issue Date, or 
 (B)     the sale (other than to the Company or a Restricted
Subsidiary) of the stock of an Unrestricted Subsidiary (other than in each case to the extent the Investment in such Unrestricted Subsidiary was made by the Company or a Restricted Subsidiary pursuant to clause (8) of Section 1010(b) or to
the extent such Investment constituted a Permitted Investment) or a dividend or distribution from an Unrestricted Subsidiary in each case after the Issue Date: plus 

(5)     in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary,
the Fair Market Value of the Investment in such Unrestricted Subsidiary, at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary, other than to the extent the Investment in such Unrestricted Subsidiary was made by
the Company or a Restricted Subsidiary pursuant to clause (6) of Section 1010(b) or to the extent such Investment constituted a Permitted Investment. 
 (b)     The foregoing provisions shall not prohibit: 
 (1)     the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of declaration such payment would have complied with the
provisions of this Indenture; 
 (2)     the redemption, repurchase or other acquisition or
retirement of Subordinated Indebtedness of the Company made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of the Company, which is incurred in compliance with Section 1011 so long as

 (A)     the principal amount (or accreted value) of such new Indebtedness does not exceed
the principal amount, plus any accrued and unpaid interest, of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired for value, plus the amount of any premium and any reasonable tender premiums, defeasance costs or other
fees and expenses incurred in connection with the issuance of such new Indebtedness, 
 (B)
    such Indebtedness has a final scheduled maturity date equal to or later than the earlier of (x) the final scheduled maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired and
(y) 91 days following the maturity of the applicable series of Notes, and 
 (C)
    such Indebtedness has a Weighted Average Life to Maturity which is not less than the shorter of (x) the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased,
acquired or retired and (y) the Weighted Average Life to Maturity that would result if all payments of principal on the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date


  
 -79- 








 
one year following the maturity date of any Notes of the applicable series then outstanding were instead due on such date one year following the maturity date of such Notes (provided that,
in the case of this subclause (C)(y), such Indebtedness does not provide for any scheduled principal payments prior to the maturity date of the applicable series of Notes in excess of, or prior to, the scheduled principal payments due prior to such
maturity for the Indebtedness being refunded or refinanced or defeased); 
 (3)     a
Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value of common Equity Interests of the Company held by any future, present or former employee, director or consultant of the Company, any of its
Subsidiaries pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement; provided, however, that the aggregate Restricted Payments made under this
clause (3) do not exceed in any calendar year $5.0 million, plus in calendar year 2012 an amount up to $5.0 million that was unused in calendar year 2011 under the same clause (3) contained in the indenture governing the Existing Notes,
(with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum (without giving effect to the following proviso) of $10.0 million in any calendar year); provided further that such amount in any
calendar year may be increased by an amount not to exceed 
 (A)     the cash proceeds from
the sale of Equity Interests (other than Disqualified Stock) of the Company to members of management, directors or consultants of the Company or any of its Subsidiaries that occurred after the Issue Date, to the extent the cash proceeds from the
sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of Section 1010(a)(2)(C); plus 
 (B)     the cash proceeds of key man life insurance policies received by the Company and its Restricted Subsidiaries after the Issue Date; less 

(C)     the amount of any Restricted Payments previously made pursuant to clauses (A) and
(B) of this Section 1010(b)(3); 
 provided that the Company may elect to apply all or any portion of the aggregate increase
contemplated by subclauses (A) and (B) above in any calendar year; 
 (4)     the
declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Company or any other Restricted Subsidiary issued in accordance with the covenant described under Section 1011 to the extent such dividends are
included in the definition of Fixed Charges; 
 (5)     the declaration and payment of
dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued by the Company after the Issue Date; provided that the aggregate amount of dividends paid pursuant to this clause (5) shall
not exceed the aggregate amount of cash actually received by the Company from the sale of such Designated Preferred Stock; provided, however, that for the most recently ended four full fiscal quarters for which internal financial
statements are available immediately preceding the date of issuance of such Designated Preferred Stock, after giving effect to such issuance on a pro forma basis, the Company and the Restricted Subsidiaries would have had a Fixed Charge Coverage
Ratio of at least 2.00 to 1.00; 
 (6)     Investments in Unrestricted Subsidiaries having
an aggregate fair market value, taken together with all other Investments made pursuant to this clause (6) that are at the time outstanding, not to exceed $50.0 million and 1.0% of Total Assets at the time of such investment; provided,
that the dollar amount of Investments made pursuant to this clause (6) may be reduced by the Fair Market Value of the proceeds received by the Company and/or its Restricted Subsidiaries from the subsequent sale, disposition or other transfer of
such Investments (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value); 

  
 -80- 








 (7)     repurchases of Equity Interests deemed to occur
upon exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; 
 (8)     Restricted Payments that are made with Excluded Contributions; 
 (9)     other Restricted Payments in an aggregate amount taken together with all other Restricted Payments made pursuant to this clause (9) not to exceed $100 million; 

(10)     Restricted Payments by the Company or any Restricted Subsidiary to allow the payment of cash
in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; 
 (11)     the purchase by the Company of fractional shares arising out of stock dividends, splits or combinations or business combinations; 

(12)     distributions or payments of Receivables Fees; 

(13)     the repurchase, redemption or other acquisition or retirement for value of any Subordinated
Indebtedness required pursuant to the provisions similar to those described under Sections 1016 and 1017 hereof; provided that there is a concurrent or prior Change of Control Offer or Asset Sale Offer, as applicable, and with respect to the
Notes of a particular series, all Notes of such series tendered by Holders of such series of Notes in connection with such Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired for value; and

 (14)    (a) any Restricted Payment in exchange for, or out of the proceeds of the
substantially concurrent sale (other than to a Restricted Subsidiary) of, Equity Interests of the Company (other than any Disqualified Stock) (“Refunding Capital Stock”) and (b) if immediately prior to the redemption, repurchase,
retirement or other acquisition of any Equity Interests of the Company (“Retired Capital Stock”), the Company and the Restricted Subsidiaries would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00, the declaration and
payment of dividends on the Refunding Capital Stock in an aggregate amount per year no greater than the aggregate amount of dividends per annum that was declarable and payable on such Retired Capital Stock immediately prior to such retirement;

 provided, however, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (3), (4),
(5), (6), (9) and (14), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 
 (c)     As of the time of issuance of the Notes, all of the Company’s Subsidiaries shall be Restricted Subsidiaries. The Company shall not permit any Unrestricted Subsidiary to
become a Restricted Subsidiary except pursuant to the last sentence of the definition of “Unrestricted Subsidiary” in Section 101 of this Indenture. For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary,
all outstanding Investments by the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the
definition of “Investment.” Such designation will be permitted only if a Restricted Payment in such amount would be permitted at such time, whether pursuant to Section 1010(a) or under clause (6), (8) or (9) of
Section 1010(b), or pursuant to the definition of “Permitted Investments,” and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries shall not be subject to any of the restrictive
covenants set forth in this Indenture. 

  
 -81- 








 SECTION 1011.        Limitation on Incurrence of
Indebtedness and Issuance of Disqualified Stock and Preferred Stock. 
 (a)     The Company shall not,
and shall not permit any Restricted Subsidiary to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, (collectively, “incur” and collectively, an
“incurrence”) with respect to any Indebtedness (including Acquired Indebtedness) and the Company shall not issue any shares of Disqualified Stock and shall not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or
preferred stock; provided, however, that the Company may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any Restricted Subsidiary may incur Indebtedness (including Acquired
Indebtedness), issue shares of Disqualified Stock and issue shares of preferred stock, if the Fixed Charge Coverage Ratio for the Company and the Restricted Subsidiaries for the most recently ended four full fiscal quarters for which internal
financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or preferred stock is issued would have been at least 2.00 to 1.00, determined on a pro forma basis
(including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock or preferred stock had been issued, as the case may be, and the application of proceeds
therefrom had occurred at the beginning of such four-quarter period. 
 (b)     The
foregoing limitations shall not apply to: 
 (1)     the incurrence of Indebtedness of the
Company or any of the Restricted Subsidiaries under Credit Facilities in an aggregate amount at any time outstanding not to exceed $250.0 million pursuant to this clause (b)(1); 

(2)     the incurrence by the Company of Indebtedness represented by the Notes (other than any
Additional Notes); 
 (3)     Existing Indebtedness (other than Indebtedness described in
clauses (1) and (2) above); 
 (4)     Indebtedness (including Capitalized Lease
Obligations), Disqualified Stock and preferred stock incurred by the Company or any of its Restricted Subsidiaries, to finance the purchase, lease or improvement of property (real or personal) or equipment that is used or useful in a Similar
Business, whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, in an aggregate principal amount which, when aggregated with the principal amount of all other Indebtedness, Disqualified Stock and
preferred stock then outstanding and incurred pursuant to this clause (4) and including all Refinancing Indebtedness incurred to refund, refinance or replace any other Indebtedness, Disqualified Stock and preferred stock incurred pursuant to
this clause (4), does not exceed the greater of (x) $50.0 million and (y) 1.0% of Total Assets; 
 (5)
    Indebtedness incurred by the Company or any Restricted Subsidiary constituting reimbursement obligations with respect to letters of credit and bank guarantees issued in the ordinary course of business, including without
limitation letters of credit in respect of workers’ compensation claims, health, disability or other benefits to employees or former employees or their families or property, casualty or liability insurance or self-insurance, and letters of
credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other permits or licenses from governmental authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers’
compensation claims; provided, however, that upon the drawing of such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence; 

(6)     Indebtedness arising from agreements of the Company or a Restricted Subsidiary providing for
indemnification, adjustment of purchase price or similar obligations, in each case, incurred or 

  
 -82- 








 
assumed in connection with the disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business,
assets or a Subsidiary for the purpose of financing such acquisition; 
 (7)
    Indebtedness of the Company to a Restricted Subsidiary; provided that, other than in the case of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management
operations of the Company and the Restricted Subsidiaries to finance working capital needs of the Restricted Subsidiaries, any such Indebtedness is subordinated in right of payment to the Notes; provided further that any subsequent issuance
or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Company or another Restricted
Subsidiary) shall be deemed, in each case to be an incurrence of such Indebtedness not permitted by this clause (7); 
 (8)     Indebtedness of a Restricted Subsidiary to the Company or another Restricted Subsidiary; provided that, any subsequent transfer of any such Indebtedness (except to the
Company or another Restricted Subsidiary) shall be deemed, in each case to be an incurrence of such Indebtedness not permitted by this clause (8); 
 (9)     shares of preferred stock of a Restricted Subsidiary issued to the Company or another Restricted Subsidiary; provided that any subsequent issuance or transfer of any
Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of preferred stock (except to the Company or another Restricted Subsidiary)
shall be deemed in each case to be an issuance of such shares of preferred stock not permitted by this clause (9); 
 (10)     Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes) for the purpose of limiting: 

(A)     interest rate risk; or 

(B)     exchange rate risk with respect to any currency exchange; or 

(C)     commodity risk; or 

(D)     any combination of the foregoing; 

(11)     obligations in respect of performance, bid, appeal and surety bonds and completion
guarantees provided by the Company or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; 
 (12)     Indebtedness, Disqualified Stock and preferred stock of the Company or any Restricted Subsidiary not otherwise permitted hereunder in an aggregate principal amount or
liquidation preference which, when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and preferred stock then outstanding and incurred pursuant to this clause (12), does not at any one time
outstanding exceed the sum of: 
 (x)     the greater of (1) $125.0 million and
(2) 3.0% of Total Assets; and 
 (y)     100% of the net cash proceeds received by the
Company since immediately after the Issue Date from the issue or sale of Equity Interests of the Company or cash contributed to the capital of the Company (in each case other than proceeds of Disqualified Stock or sales of Equity


  
 -83- 








 
Interests to the Company or any of its Subsidiaries) as determined in accordance with clauses (C)(2) and (C)(3) of Section 1010(a)(4) to the extent such net cash proceeds or cash have not
been applied pursuant to such clauses to make Restricted Payments or to make other investments, payments or exchanges pursuant to Section 1010(b) or to make Permitted Investments (other than Permitted Investments specified in clauses
(a) and (c) of the definition thereof); 
 (13)    (A) any guarantee by the
Company of Indebtedness or other obligations of any Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Indenture, or 

(B)     any guarantee by a Restricted Subsidiary of Indebtedness of the Company or another Restricted
Subsidiary so long as the incurrence of such Indebtedness incurred by the Company or such other Restricted Subsidiary is permitted under the terms of this Indenture; 

(14)     the incurrence by the Company or any Restricted Subsidiary of Indebtedness, Disqualified
Stock or preferred stock which serves to refund or refinance any Indebtedness, Disqualified Stock or preferred stock incurred as permitted under Section 1011 (a) and clauses (2) and (3) above, this clause (14) and clauses
(15) and (17) below or any Indebtedness, Disqualified Stock or preferred stock issued to so refund or refinance such Indebtedness, Disqualified Stock or preferred stock including additional Indebtedness, Disqualified Stock or preferred
stock incurred to pay premiums (including tender premiums), defeasance costs and fees in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing
Indebtedness: 
 (A)     except in the case of Indebtedness incurred pursuant to clause
(17) below or any Refinancing Indebtedness of such Indebtedness, has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is incurred which is not less than the shorter of (x) remaining Weighted Average Life to
Maturity of the Indebtedness, Disqualified Stock or preferred stock being refunded or refinanced and (y) in the case of Subordinated Indebtedness, the Weighted Average Life to Maturity that would result if all payments of principal on the
Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date one year following the maturity date of any Notes of the applicable series then outstanding were instead due on such date one
year following the maturity date of such Notes (provided that, in the case of this subclause (14)(A)(y), such Indebtedness does not provide for any scheduled principal payments prior to the maturity date of the applicable series of the Notes
in excess of, or prior to, the scheduled principal payments due prior to such maturity for the Indebtedness, Disqualified Stock or preferred stock being refunded or refinanced or defeased), 

(B)     to the extent such Refinancing Indebtedness refinances (i) Indebtedness subordinated in
right of payment to the Notes, such Refinancing Indebtedness is subordinated in right of payment to the Notes at least to the same extent as the Indebtedness being refinanced or refunded or (ii) Disqualified Stock or preferred stock, such
Refinancing Indebtedness must be Disqualified Stock or preferred stock, respectively; and 
 (C)
    shall not include (x) Indebtedness, Disqualified Stock or preferred stock of a Subsidiary that refinances Indebtedness, Disqualified Stock or preferred stock of the Company, or (y) Indebtedness, Disqualified Stock
or preferred stock of the Company or a Restricted Subsidiary that refinances Indebtedness, Disqualified Stock or preferred stock of an Unrestricted Subsidiary; 
 (15)     Indebtedness, Disqualified Stock or preferred stock of Persons that are acquired by the Company or any Restricted Subsidiary or amalgamated or merged into the Company or a
Restricted Subsidiary in accordance with the terms of this Indenture; provided that such Indebtedness, Disqualified Stock or preferred stock is not incurred in contemplation of such acquisition, amalgamation or merger; provided further
that after giving effect to such acquisition, amalgamation or merger, either 

  
 -84- 








 (A)     the Company would be permitted to incur at least
$1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 1011(a) or 
 (B)     the Fixed Charge Coverage Ratio is greater than immediately prior to such acquisition, amalgamation or merger; 

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

(17)     Indebtedness (including Capitalized Lease Obligations), Disqualified Stock and preferred
stock, including any predelivery payment financing, incurred by the Company or any of its Restricted Subsidiaries, relating to the purchase, lease, acquisition, improvement or modification of any aircraft, engines, spare parts or similar assets,
including in the form of financing from aircraft or engine manufacturers or their affiliates and whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, so long as the amount of such indebtedness does not
exceed the purchase price of such aircraft and any improvements or modifications thereto and is incurred not later than 270 days after the date of such purchase, lease, acquisition, improvement or modification; 

(18)     Indebtedness of the Company or any Restricted Subsidiary supported by a letter of credit
issued pursuant to Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; and 
 (19)     Indebtedness of the Company or any Restricted Subsidiary consisting of (i) the financing of insurance premiums or (ii) take-or-pay obligations contained in supply
arrangements, in each case, in the ordinary course of business. 
 (c)     For purposes of determining
compliance with this Section 1011, in the event that an item of Indebtedness, Disqualified Stock or preferred stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or preferred stock described
in clauses (1) through (19) of Section 1011(b) above or is entitled to be incurred pursuant to Section 1011(a), the Company, in its sole discretion, may classify or reclassify such item of Indebtedness in any manner that complies
with this Section 1011 and the Company may divide and classify an item of Indebtedness in more than one of the types of Indebtedness described in Sections 1011(a) and (b). Accrual of interest, the accretion of accreted value and the
payment of interest in the form of additional Indebtedness, Disqualified Stock or preferred stock shall not be deemed to be an incurrence of Indebtedness, Disqualified Stock or preferred stock for purposes of this Section 1011. 

(d)     For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of
Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term
debt, or first committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S.
dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal
amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. 

  
 -85- 








 (e)     The principal amount of any Indebtedness incurred to refinance
other Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated that is in
effect on the date of such refinancing. 
 (f)     The Company shall not, directly or indirectly, incur any
Indebtedness (including Acquired Indebtedness) that is subordinated or junior in right of payment to any Indebtedness of the Company unless such Indebtedness is expressly subordinated in right of payment to each series of Notes to the extent in the
same manner as such Indebtedness is subordinated in right of payment to other Indebtedness of the Company. 

(g)    (x) Unsecured Indebtedness shall not be treated as subordinated or junior to secured Indebtedness merely
because it is unsecured and (y) Indebtedness shall not be treated as subordinated or junior to any other Indebtedness merely because it has a junior priority with respect to the same collateral. 

SECTION 1012.         Limitation on Liens. 

The Company shall not create, incur, assume or otherwise cause or suffer to exist or become effective any Lien that secures obligations
under any Indebtedness of the Company or any Guarantor (the “Initial Lien”) of any kind upon any of its property or assets, now owned or hereafter acquired, except any Initial Lien if (i) the Notes of each series are equally and
ratably secured with (or on a senior basis to, in the case such Initial Lien secures any Subordinated Indebtedness) the obligations secured by such Initial Lien or (ii) such Initial Lien is a Permitted Lien. 

Any Lien created for the benefit of the Holders pursuant to clause (i) of the preceding paragraph shall provide by its terms that
such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien. 
 SECTION 1013.         Limitations on Transactions with Affiliates. 
 (a)     The Company shall not, and shall not permit any Restricted Subsidiary to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets
to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Company (each of the foregoing, an
“Affiliate Transaction”) involving aggregate payments or consideration in excess of $5.0 million, unless: 
 (1)     such Affiliate Transaction is on terms that are not materially less favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a
comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person; 
 (2)
    the Company delivers to the Trustee with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess of $25.0 million, a resolution adopted by the
majority of the Board of Directors approving such Affiliate Transaction and set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with clause (1) above; and 

(3)     the Company delivers to the Trustee with respect to any Affiliate Transaction or series of
related Affiliate Transactions involving aggregate payments or consideration in excess of $100.0 million, a copy of a written opinion as to the fairness of such Affiliate Transaction to the Company or such Restricted Subsidiary from a financial
point of view issued by an Independent Financial Advisor. 

  
 -86- 








 (b)     The foregoing provisions will not apply to the
following: 
 (1)     transactions between or among the Company and/or any of the Restricted
Subsidiaries; 
 (2)     Restricted Payments permitted by Section 1010 and the
definition of “Permitted Investments”; 
 (3)     the payment of reasonable and
customary fees paid to, and indemnities provided on behalf of, officers, directors, employees or consultants of the Company or any Restricted Subsidiary; 
 (4)     transactions in which the Company or any Restricted Subsidiary, as the case may be, delivers to the Trustee a letter from an Independent Financial Advisor stating that such
transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or meets the requirements of Section 1013(a)(1); 
 (5)     payments or loans (or cancellation of loans) to employees or consultants of the Company or any Restricted Subsidiary which are approved by a majority of the Board of Directors
of the Company in good faith; 
 (6)     any agreement as in effect as of the Issue Date, or
any amendment thereto (so long as any such amendment, taken as a whole, is no less favorable to the Company and its Restricted Subsidiaries than the agreement in effect on the date hereof (as determined by the Board of Directors of the Company in
good faith)); 
 (7)     the existence of, or the performance by the Company or any of its
Restricted Subsidiaries of its obligations under the terms of, any shareholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Issue Date and any similar agreements
which it may enter into thereafter; provided, however, that the existence of, or the performance by the Company or any Restricted Subsidiary of obligations under any future amendment to any such existing agreement or under any similar
agreement entered into after the Issue Date shall only be permitted by this clause (7) to the extent that the terms of any such amendment or new agreement, taken as a whole, is no less favorable to the Company and its Restricted Subsidiaries
than the agreement in effect on the date of this Indenture (as determined by the Board of Directors of the Company in good faith); 
 (8)     transactions with customers, clients, suppliers, or purchasers or sellers of goods or services, in each case in the ordinary course of business and otherwise in compliance with
the terms of this Indenture which are fair to the Company and the Restricted Subsidiaries, in the reasonable determination of the Board of Directors of the Company or the senior management thereof, or are on terms at least as favorable as might
reasonably have been obtained at such time from an unaffiliated party (as determined by the Board of Directors of the Company in good faith); 
 (9)     the issuance of Equity Interests (other than Disqualified Stock) of the Company to any Affiliate of the Company; 

(10)     transactions or payments pursuant to any employee, officer or director compensation or
benefit plans, employment agreements, severance agreement, indemnification agreements or any similar arrangements entered into in the ordinary course of business or approved in good faith by the Board of Directors of the Company; 

(11)     transactions in the ordinary course with (i) Unrestricted Subsidiaries or
(ii) joint ventures in which the Company or a Subsidiary of the Company holds or acquires an ownership interest (whether by way of Capital Stock or otherwise) so long as the terms of any such transactions are no less favorable to the Company or
Subsidiary participating in such joint ventures than they are to other joint venture partners; 

  
 -87- 








 (12)     transactions with a Person (other than an
Unrestricted Subsidiary of the Company) that is an Affiliate of the Company solely because the Company owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person; 

(13)     sales of accounts receivable, or participations therein, in connection with any Receivables
Facility; and 
 (14)     the payment of management, consulting, monitoring and advisory
fees and related expenses to Sponsor and its Affiliates in an aggregate amount in any fiscal year not to exceed an amount per annum equal to $2.0 million. 
 SECTION 1014.         Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. 

The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create or otherwise cause or suffer to
exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary to: 
 (a)    (1) pay dividends or make any other distributions to the Company or any Restricted Subsidiary on its Capital Stock or, with respect to any other interest or participation in, or
measured by, its profits, or (2) pay any Indebtedness owed to the Company or any Restricted Subsidiary; 

(b)     make loans or advances to the Company or any Restricted Subsidiary; or 

(c)     sell, lease or transfer any of its properties or assets to the Company or any Restricted
Subsidiary, except (in each case) for such encumbrances or restrictions existing under or by reason of: 
 (1)
    contractual encumbrances or restrictions in effect on the Issue Date; 
 (2)
    this Indenture and the Notes; 
 (3)     purchase money obligations
for property acquired in the ordinary course of business that impose restrictions of the nature discussed in clause (c) above on the property so acquired; 
 (4)     applicable law or any applicable rule, regulation or order; 
 (5)     any agreement or other instrument of a Person acquired by the Company or any Restricted Subsidiary in existence at the time of such acquisition (but not created in
contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; 

(6)     contracts for the sale of assets, including, without limitation, customary restrictions with
respect to a Subsidiary pursuant to an agreement that has been entered into for the sale or disposition of all or substantially all of the Capital Stock or assets of such Subsidiary that impose restrictions on the assets to be sold; 

(7)     secured Indebtedness otherwise permitted to be incurred pursuant to Sections 1011 and 1012
that limit the right of the debtor to dispose of the assets securing such Indebtedness; 

  
 -88- 








 (8)     restrictions on cash or other deposits or net
worth imposed by customers under contracts entered into in the ordinary course of business; 
 (9)
    customary provisions in joint venture agreements and other similar agreements relating solely to such joint venture; 
 (10)     customary provisions contained in leases and other agreements entered into in the ordinary course of business; 

(11)     any such encumbrance or restriction with respect to a Foreign Subsidiary pursuant to an
agreement governing Indebtedness, Disqualified Stock or preferred stock incurred by such Foreign Subsidiary that was permitted by the terms of this Indenture to be incurred; 

(12)     any such encumbrance or restriction pursuant to an agreement governing Indebtedness incurred
pursuant to Section 1011(b)(1), which encumbrances or restrictions are, in the good faith judgment of the Company’s Board of Directors not materially more restrictive, taken as a whole, than customary provisions in comparable financings
and that the management of the Company determines, at the time of such financing, will not materially impair the Company’s ability to make payments as required under the Notes; 

(13)     any encumbrances or restrictions of the type referred to in clauses (a), (b) and
(c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1) through (10) above;
provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Company’s Board of Directors, no more restrictive, taken as a
whole, with respect to such encumbrance and other restrictions than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing; and 

(14)     restrictions created in connection with any Receivables Facility that, in the good faith
determination of the Board of Directors of the Company, are necessary or advisable to effect such Receivables Facility. 

SECTION 1015.         Special Interest Notice. 

In the event that the Company is required to pay Special Interest to Holders of Notes of either series pursuant to the Registration
Rights Agreement, the Company will provide written notice (“Special Interest Notice”) to the Trustee of its obligation to pay Special Interest no later than fifteen days prior to the proposed payment date for the Special Interest, and the
Special Interest Notice shall set forth the amount of Special Interest to be paid by the Company on such payment date. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes of such series to determine the
Special Interest, or with respect to the nature, extent, or calculation of the amount of Special Interest owed, or with respect to the method employed in such calculation of the Special Interest. 

  
 -89- 








 SECTION 1016.         Change of Control.

 If a Change of Control occurs, the Company shall make an offer to purchase all of the Notes of each series pursuant to the
offer described below (the “Change of Control Offer”) at a price in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount thereof plus, in each case, accrued and unpaid interest, if any, to, but
not including, the date of purchase, subject to the right of Holders of record of such series of notes on the relevant record date to receive interest due on the relevant Interest Payment Date. Within 30 days following any Change of Control, the
Company shall send notice of such Change of Control Offer by first class mail, with a copy to the Trustee, to each Holder of the applicable series of Notes to the address of such Holder appearing in the Note Register with a copy to the Trustee or
otherwise in accordance with the procedures of DTC, with the following information: 
 (1)
    a Change of Control Offer is being made pursuant to this Section 1016 and that all Notes of the applicable series properly tendered pursuant to such Change of Control Offer will be accepted for payment; 

(2)     the purchase price and the purchase date, which will be no earlier than 30 days nor later
than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
 (3)
    any Note of the applicable series not properly tendered will remain outstanding and continue to accrue interest; 
 (4)     unless the Company defaults in the payment of the Change of Control Payment, all Notes of the applicable series accepted for payment pursuant to the Change of Control Offer
will cease to accrue interest on, but not including, the Change of Control Payment Date; 
 (5)
    Holders electing to have any Notes of the applicable series purchased pursuant to a Change of Control Offer will be required to surrender such Notes, with the form entitled “Option of Holder to Elect Purchase” on
the reverse of such Notes completed, to the Paying Agent specified in the notice at the address specified in the notice prior to the close of business on the third business day preceding the Change of Control Payment Date; 

(6)     Holders will be entitled to withdraw their tendered Notes of the applicable series and their
election to require the Company to purchase such Notes, provided that the Paying Agent receives, not later than the close of business on the last day of the Change of Control Offer period, a telegram, telex, facsimile transmission or letter
setting forth the name of the Holder of the applicable series Notes, the principal amount of Notes of such series tendered for purchase, and a statement that such Holder is withdrawing his tendered Notes and his election to have such Notes
purchased; 
 (7)     if such notice is mailed prior to the occurrence of a Change of
Control, stating that the Change of Control Offer is conditional on the occurrence of such Change of Control; and 
 (8)     that Holders whose Notes of the applicable series are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes of
such series surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. 
 (b)     While the Notes are in global form and the Company makes an offer to purchase all of the Notes of a particular series pursuant to the Change of Control Offer, a Holder may
exercise its option to elect for the purchase of the Notes of such series through the facilities of Depositary, Euroclear and Clearstream, subject to their rules and regulations. 

(c)     The Company shall not be required to make a Change of Control Offer with respect to a particular series of
Notes following a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by
the Company and purchases all Notes of such series validly tendered and not withdrawn under such Change of Control Offer or (2) notice of redemption has been given with respect to such series pursuant to this Indenture as described under
Section 1101, unless and until there is a default in payment of the applicable redemption price. Notwithstanding anything to the contrary herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such
Change of Control. 

  
 -90- 








 (d)     The Company shall comply with the requirements of
Section 14(e) under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of either series of Notes pursuant to a Change of Control
Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its
obligations described in this Indenture by virtue thereof. 
 (e)     On the Change of Control Payment Date
with respect to a particular series of Notes, the Company shall, to the extent permitted by law, 
 (1)
    accept for payment all Notes of the applicable series or portions thereof properly tendered pursuant to the Change of Control Offer, 
 (2)     deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in respect of all Notes of the applicable series or portions thereof so tendered, and

 (3)     deliver, or cause to be delivered, to the Trustee for cancellation the Notes of
the applicable series so accepted together with an Officers’ Certificate stating that such Notes or portions thereof have been tendered to and purchased by the Company. 
 (f)     The Paying Agent shall promptly mail to each Holder of the applicable series of Notes the Change of Control Payment for such Notes, and the Trustee will promptly authenticate
and mail to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess
thereof. The Company shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
 SECTION 1017.         Asset Sales. 

(a)     The Company shall not, and shall not permit any Restricted Subsidiary to, cause, make or suffer to exist an
Asset Sale, unless: 
 (1)     the Company or such Restricted Subsidiary, as the case may
be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value of the assets sold or otherwise disposed of; and 
 (2)     except in the case of a Permitted Asset Swap, at least 75% of the consideration therefor received by the Company or such Restricted Subsidiary, as the case may be, is in the
form of cash or Cash Equivalents. 
 Within 365 days after the Company’s or a Restricted Subsidiary’s receipt of
the Net Proceeds of any Asset Sale covered by this clause (a) the Company or such Restricted Subsidiary, at its option, may apply the Net Proceeds from such Asset Sale: 

(1)     to make one or more offers to the Holders of the Notes of both series (and, at the option of
the Company, the holders of other senior Indebtedness) to purchase Notes of each series (and such senior Indebtedness) pursuant to and subject to the conditions contained in this Indenture (each, an “Asset Sale Offer”); provided,
however, that in connection with any prepayment, repayment or purchase of Indebtedness 

  
 -91- 








 
pursuant to this clause (1), the Company or such Restricted Subsidiary shall permanently retire such Indebtedness; provided, further, that if the Company or such Restricted
Subsidiary shall so reduce any senior Indebtedness (other than the Notes), the Company shall equally and ratably reduce Indebtedness under the Notes by making an offer to all Holders of Notes of both series to purchase at a purchase price equal to
100% of the principal amount thereof, plus accrued and unpaid interest and additional interest, if any, the pro rata principal amount of the Notes, such offer to be conducted in accordance with the procedures set forth below for an Asset Sale
Offer but without any further limitation in amount; 
 (2)     to make an investment in
(a) any one or more businesses; provided that such investment in any business is in the form of the acquisition of Capital Stock and results in the Company or a Restricted Subsidiary, as the case may be, owning an amount of the Capital Stock of
such business such that it constitutes a Restricted Subsidiary, (b) capital expenditures or (c) acquisitions of other assets, in each of (a), (b) and (c), used or useful in a Similar Business; or 

(3)     to reduce Indebtedness of a Restricted Subsidiary, other than Indebtedness owed to the
Company or another Restricted Subsidiary; provided that the acquisition of Indebtedness of a Restricted Subsidiary by the Company shall constitute a reduction in such Indebtedness. 

Any Net Proceeds that are not invested or applied as provided and within the time period set forth in the first sentence of the
immediately preceding paragraph shall be deemed to constitute “Excess Proceeds.” In the case of clause (2) above, a binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment;
provided that (x) such investment is consummated within 635 days after receipt by the Company or any Restricted Subsidiary of the Net Proceeds of any Asset Sale and (y) if such investment is not consummated within the period set
forth in subclause (x), the Net Proceeds not so applied will be deemed to be Excess Proceeds. When the aggregate amount of Excess Proceeds exceeds $25.0 million, the Company shall make an Asset Sale Offer to all Holders of the Notes of both
series, and, if required by the terms of any senior Indebtedness, to the holders of such senior Indebtedness, to purchase the maximum principal amount of Notes and such other senior Indebtedness, that are $2,000 or an integral multiple of $1,000 in
excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date fixed for the closing of
such offer, in accordance with the procedures set forth in this Indenture. The Company shall commence an Asset Sale Offer with respect to Excess Proceeds within 30 days after the date that Excess Proceeds exceed $25.0 million by mailing the
notice required pursuant to the terms of this Indenture, with a copy to the Trustee. To the extent that the aggregate amount of Notes and such senior Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company
may use any remaining Excess Proceeds for general corporate purposes, subject to other covenants contained in this Indenture. If the aggregate principal amount of Notes or the senior Indebtedness surrendered by such holders thereof exceeds the
amount of Excess Proceeds, the Notes of each series and such senior Indebtedness will be purchased on a pro rata basis based on the principal amount of the Notes of such series or such senior Indebtedness tendered. Upon completion of any such
Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. After the Company or any Restricted Subsidiary has applied the Net Proceeds from any Asset Sale as provided in, and within the time periods required by, this paragraph (a),
the balance of such Net Proceeds, if any, from such Asset Sale may be used by the Company or such Restricted Subsidiary for any purpose not prohibited by the terms of this Indenture. 

(b)     For purposes of this Section 1017, the following are deemed to be cash or Cash Equivalents: 

(1)     any liabilities (as shown on the Company’s, or such Restricted Subsidiary’s most
recent internally available balance sheet or in the notes thereto) of the Company or any Restricted Subsidiary other than liabilities that are by their terms subordinated to the Notes; 

  
 -92- 








 (2)     any securities received by the Company or such
Restricted Subsidiary from such transferee that are converted by the Company or such Restricted Subsidiary into cash (to the extent of the cash received) within 180 days following the closing of such Asset Sale; and 

(3)     any Designated Non-cash Consideration received by the Company or any Restricted Subsidiary in
such Asset Sale having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (4) that is at that time outstanding, not to exceed the greater of
(x) $100.0 million and (y) 3.0% of Total Assets at the time of the receipt of such Designated Non-cash Consideration, with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and
without giving effect to subsequent changes in value. 
 (c)     The Company shall comply with the
requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer. To
the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its
obligations described in this Indenture by virtue thereof. If less than all of the Notes or other senior Indebtedness are to be redeemed, Section 1109 shall apply. 
 SECTION 1018.         Waiver of Certain Covenants. 
 The Company and the Restricted Subsidiaries may omit in any particular instance to comply with any term, provision or condition set forth in or Sections 1004 through 1008, inclusive, if before or after
the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Notes of a particular series, by Act of such Holders, waive such compliance in such instance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term,
provision or condition shall remain in full force and effect. 
 SECTION 1019.
        Discharge and Suspension of Covenants. 
 (a)     If
on any date following the Issue Date (i) the Notes of a particular series have Investment Grade Ratings from both Rating Agencies, and (ii) no Default has occurred and is continuing under this Indenture with respect to such series of Notes
(the occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event”), Section 801(4) hereof, Section 1010 hereof, Section 1011 hereof,
Section 1013 hereof, Section 1014 hereof, and Section 1017 hereof shall no longer be applicable to such series of Notes (collectively, the “Suspended Covenants”). 

(b)     In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants
under this Indenture for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) one or both of the Rating Agencies (1) withdraw their Investment Grade Rating or downgrade the rating assigned
to a particular series of Notes below an Investment Grade Rating and/or (2) the Company or any of its Affiliates enters into an agreement to effect a transaction that would result in a Change of Control and one or more of the Rating Agencies
indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw its Investment Grade Rating or downgrade the ratings assigned to a particular
series of Notes below an Investment Grade Rating, then the Company and the Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants under this Indenture with respect to such series of Notes with respect to future events,
including, without limitation, a proposed transaction described in clause (2) above. 

  
 -93- 








 (c)     The period of time between the Suspension Date and the Reversion
Date is referred to in this description as the “Suspension Period.” Additionally, upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds from Net Proceeds shall be reset at zero with respect to the applicable
series of Notes. During the Suspension Period no additional subsidiary may be designated an Unrestricted Subsidiary unless such designation would have been permitted if Section 1010 had been in effect at all times during the Suspension Period.
In the event of any such reinstatement, no action taken or omitted to be taken by the Company or any of its Restricted Subsidiaries prior to such reinstatement will give rise to a Default or Event of Default under this Indenture with respect to any
Notes of such series; provided that (1) with respect to Restricted Payments made after any such reinstatement, the amount of Restricted Payments made will be calculated as though Section 1010 hereof had been in effect prior to, but
not during the Suspension Period, and (2) all Indebtedness incurred, or Disqualified Stock or preferred stock issued, during the Suspension Period will be classified to have been incurred or issued pursuant to Section 1011(b)(3) hereof.

 The Company shall deliver promptly to the Trustee an Officers’ Certificate notifying it of any such occurrence under
this Section 1019. 
 SECTION 1020.         Note Guarantees. 

The Company will not cause or permit any of its Restricted Subsidiaries (other than a Guarantor), directly or indirectly, to guarantee
any Indebtedness of the Company or any other Guarantor unless such Restricted Subsidiary: 
 (a)
    within 5 Business Days of the date on which it guarantees Indebtedness of the Company or any Guarantor executes and delivers to the Trustee a supplemental indenture pursuant to which such Restricted Subsidiary shall guarantee
(each, a “Note Guarantee”) all of the Company’s obligations under the Notes and this Indenture and other terms contained in the applicable supplemental indenture and subject to the conditions contained in such supplemental indenture;
and 
 (b)     delivers to the Trustee an Opinion of Counsel (which may contain customary
exceptions) that such supplemental indenture and Note Guarantee have been duly authorized, executed and delivered by such Restricted Subsidiary and constitute legal, valid, binding and enforceable obligations of such Restricted Subsidiary.

 Thereafter, such Subsidiary shall be a Guarantor for all purposes of this Indenture until such Note Guarantee is released in
accordance with the provisions of this Indenture. In the event of a sale or other transfer or disposition of all of the Capital Stock in any Guarantor to any Person that is not an Affiliate of the Company in compliance with the terms of this
Indenture, or in the event all or substantially all the assets or Capital Stock of a Guarantor are sold or otherwise transferred, by way of merger, consolidation or otherwise, to a Person that is not an Affiliate of the Company in compliance with
the terms of this Indenture, then, without any further action on the part of the Trustee or any Holder, such Guarantor (or the Person concurrently acquiring such assets of such Guarantor) shall be deemed automatically and unconditionally cancelled,
released and discharged of any obligations under its Note Guarantee, as evidenced by a supplemental indenture, written instrument or confirmation executed by the Trustee, upon request; provided, however that the Company delivers an
Officers’ Certificate to the Trustee certifying that the net cash proceeds of such sale or other disposition will be applied in accordance with Section 1017 and, if evidence of such cancellation, discharge or release is requested to be
executed by the Trustee, an Officers’ Certificate and an Opinion of Counsel complying with Section 102 of this Indenture. The Company may cause any other Subsidiary of the Company to issue a Note Guarantee and become a Guarantor.

 Each Note Guarantee by a Restricted Subsidiary will be limited to an amount not to exceed the maximum amount that can be
guaranteed by that Restricted Subsidiary without rendering the Note Guarantee, as it relates to such Restricted Subsidiary, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights
of creditors generally. 

  
 -94- 








 SECTION 1021.         Additional Amounts.

 If the Company (or a Guarantor, if any) or other applicable withholding agent is required by law to deduct or withhold taxes
imposed by Bermuda or another Relevant Tax Jurisdiction on payments to Holders, it will pay to any Holder so entitled all additional amounts that may be necessary so that every Net Payment of interest, principal, premium or other amount received by
the beneficial owner on that Note or the guarantee will not be less than the amount provided for in that Note or the Note Guarantee. 
 (a)     The Company (and Guarantors, if any) will also indemnify and reimburse Holders for: 
 (1)     Taxes (including any interest, penalties and related expenses) imposed on the Holders (or if a Holder is not the beneficial owner, the beneficial owner) by a Relevant Tax
Jurisdiction if and to the same extent that a Holder would have been entitled to receive additional amounts if the Company (or a Guarantor) or other applicable withholding agent had been required to deduct or withhold those taxes from payments on
the Notes or the Note Guarantees; and 
 (2)     Stamp, court, documentary or similar taxes
or charges (including any interest, penalties and related expenses) imposed by a Relevant Tax Jurisdiction in connection with the execution, delivery, enforcement or registration of the Notes or the Note Guarantees or other related documents and
obligations. 
 (b)     The Company (or a Guarantor) will not pay additional amounts to any
Holder for or on account of any of the following: 
 (1)     Any tax, assessment or other
governmental charge imposed solely because at any time there is or was a connection between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of or possessor of power over the relevant holder if the holder is an
estate, nominee, trust, partnership, limited liability company, or corporation) and the Relevant Tax Jurisdiction imposing the tax (other than the mere receipt of a payment or the acquisition, ownership, disposition or holding of, or enforcement of
rights under, a Note or the Note Guarantees); 
 (2)     Any estate, inheritance, gift or
any similar tax, assessment or other governmental charge; 
 (3)     Any tax, assessment or
other governmental charge imposed solely because such Holder (or if such Holder is not the beneficial owner, the beneficial owner) fails to comply with any certification, identification or other reporting requirement concerning the nationality,
residence, identity or connection with the taxing jurisdiction of such Holder or any beneficial owner of the Note or the Note Guarantees, if compliance is required by law or by an applicable income tax treaty to which the jurisdiction imposing the
tax is a party, as a precondition to an exemption from the tax, assessment or other governmental charge for which such Holder is eligible and the Company (or a Guarantor) has given the Holders at least 60 days’ notice that Holders will be
required to provide such information and identification; 
 (4)     Any tax, assessment or
other governmental charge with respect to a Note or a Note Guarantee presented for payment more than 30 days after the date on which payment became due and payable or the date on which payment thereof is duly provided for and notice thereof given to
Holders, whichever occurs later, except to the extent that such Holder of the Note would have been entitled to additional amounts on presenting the Note for payment on any date during the 30-day period; and 

  
 -95- 








 (5)     Any withholding or deduction imposed on a
payment to an individual that is required to be made pursuant to the European Union Directive on the taxation of savings income, which was adopted by the ECOFIN Council on June 3, 2003, or any law implementing or complying with, or introduced
in order to conform to, such Directive. 
 ARTICLE Eleven 

REDEMPTION OF NOTES 
 SECTION 1101.         Right of Redemption. 
 (a)     Right of Redemption for 2017 Notes 
 (1)
    Prior to April 15, 2015, the Company may, at its option, redeem up to 35% of the aggregate principal amount of 2017 Notes issued under this Indenture at a Redemption Price equal to 106.75% of the aggregate principal
amount thereof, plus accrued and unpaid interest thereon, if any, to, but not including, the Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date, with
the net proceeds of one or more Equity Offerings of the Company; provided that at least 65% of the sum of the aggregate principal amount of 2017 Notes originally issued under this Indenture on the Issue Date remains outstanding immediately after the
occurrence of each such redemption; provided, further, that each such redemption occurs within 90 days of the date of closing of each such Equity Offering. 
 (2)     The Company may also redeem all or a part of the 2017 Notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each Holder’s
registered address, at a redemption price equal to the greater of (a) 100% of the principal amount of 2017 Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date, and (b) the sum of the present
values of the remaining scheduled payments of principal and interest on the 2017 Notes from the Redemption Date to, but not including, the maturity date of the 2017 Notes (computed using a discount rate equal to the Treasury Rate as of such
Redemption Date plus 50 basis points), plus accrued and unpaid interest to, but not including, the Redemption Date. 
 (b)
    Right of Redemption for 2020 Notes 
 (1)     At any time prior to
April 15, 2015, the Company may, at its option, redeem up to 35% of the aggregate principal amount of 2020 Notes issued under this Indenture at a Redemption Price equal to 107.625% of the aggregate principal amount thereof, plus accrued and
unpaid interest thereon, if any, to, but not including, the Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date, with the net proceeds of one or more
Equity Offerings of the Company; provided that at least 65% of the sum of the aggregate principal amount of 2020 Initial Notes remains outstanding immediately after the occurrence of each such redemption; provided further that each such redemption
occurs within 90 days of the date of closing of each such Equity Offering. 
 (2)     The Company may also
redeem all or a part of the 2020 Notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each Holder’s registered address, at a redemption price equal to the greater of (a) 100% of the principal
amount of 2020 Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date, and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the 2020 Notes from the
Redemption Date to, but not including, the maturity date of the 2020 Notes (computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points), plus accrued and unpaid interest to, but not including, the
Redemption Date. 

  
 -96- 








 (c)     Notice of redemption upon any Equity Offering or in connection
with a transaction (or series of related transactions) that constitute a Change of Control may, at the Company’s option and discretion, be subject to one or more conditions precedent, including, but not limited to, completion of an Equity
Offering or Change of Control, as the case may be. 
 (d)     In addition to the Company’s rights to
redeem Notes as set forth in subclauses (a) through (f) above, the Company may at any time purchase Notes in open-market transactions, tender offers or otherwise. 
 SECTION 1102.         Redemption for Taxation Reasons. 
 The Company will be entitled, at its option, to redeem either series of Notes in whole if at any time it becomes obligated to pay additional amounts on such series of Notes on the next interest payment
date with respect to such Notes, but only if its obligation results from a change in, or an amendment to, the laws or treaties (including any regulations or official rulings promulgated thereunder) of a Relevant Tax Jurisdiction (or a political
subdivision or taxing authority thereof or therein), or from a change in any official position regarding the interpretation, administration or application of those laws, treaties, regulations or official rulings (including a change resulting from a
holding, judgment or order by a court of competent jurisdiction), that becomes effective and is announced after the Issue Date (or, if the applicable Relevant Tax Jurisdiction became a Relevant Tax Jurisdiction on a date after the Issue Date, such
later date) and provided the Company cannot avoid the obligation after taking reasonable measures to do so. If the Company redeems either series of Notes in these circumstances, it will do so at a redemption price equal to 100% of the principal
amount of the Notes of such series redeemed, plus accrued and unpaid interest, if any, and any other amounts due to the redemption date. 
 If the Company becomes entitled to redeem either series of Notes in these circumstances, it may do so at any time on a redemption date of its choice. However, the Company must give the Holders of such
series of Notes being redeemed notice of the redemption not less than 30 days or more than 60 days before the redemption date and not more than 90 days before the next date on which it would be obligated to pay additional amounts. In addition, the
Company’s obligation to pay additional amounts must remain in effect when it gives the notice of redemption. Notice of the Company’s intent to redeem either series of Notes shall not be effective until such time as it delivers to the
Trustee both a certificate signed by two of its officers stating that the obligation to pay additional amounts cannot be avoided by taking reasonable measures and an opinion of independent legal counsel or an independent auditor stating that the
Company is obligated to pay additional amounts because of an amendment to or change in law, treaties or position as described in the preceding paragraph. In addition to the Company’s rights to redeem Notes as set forth above, the Company may at
any time and from time to time purchase Notes in open-market transactions, tender offers or otherwise. 
 SECTION 1103.
        Applicability of Article. 
 Redemption of Notes at the election of the
Company or otherwise, as permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this Article. 
 SECTION 1104.         Election To Redeem; Notice to Trustee. 
 The election of the Company to redeem any series of Notes pursuant to Section 1101 above shall be evidenced by a Company Order. In case of any redemption at the election of the Company, the Company
shall, at least 35 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Notes of such series to be redeemed
and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the Notes of such series to be redeemed pursuant to Section 1105. 

  
 -97- 








 SECTION 1105.         Selection by Trustee of
Notes To Be Redeemed. 
 If less than all of the Notes of a particular series are to be redeemed at any time, selection of
such Notes for redemption, will be made by the Trustee in compliance with the requirements of the principal national securities exchange and DTC procedures, if any, on which such Notes are listed, or, if such Notes are not so listed, on a pro rata
basis or by lot or such similar method in accordance with the procedures of DTC; provided that no Notes of $2,000 or less shall be purchased or redeemed in part. 
 Notices of purchase or redemption shall be mailed by first class mail, postage prepaid, at least 30 but not more than 60 days before the purchase or redemption date to each Holder of Notes of the
applicable series to be purchased or redeemed at such Holder’s registered address. If any Note is to be purchased or redeemed in part only, any notice of purchase or redemption that relates to such Note shall state the portion of the principal
amount thereof that has been or is to be purchased or redeemed. 
 A new Note in principal amount equal to the unpurchased or
unredeemed portion of any Note purchased or redeemed in part will be issued in the name of the Holder thereof upon cancellation of the original Note. On and after the purchase or Redemption Date, unless the Company defaults in payment of the
purchase or Redemption Price, interest shall cease to accrue on Notes or portions thereof purchased or called for redemption. 

SECTION 1106.         Notice of Redemption. 

Notice of redemption shall be given in the manner provided for in Section 106 not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder to be redeemed. Except as set forth in Section 1101(d), notices of redemption may not be conditional. 
 All notices of redemption shall state: 
 (1)
    the Redemption Date, 
 (2)     the Redemption Price and the amount
of accrued interest to the Redemption Date payable as provided in Section 1108, if any, 
 (3)
    if less than all Outstanding Notes of a particular series are to be redeemed, the identification (and, in the case of a partial redemption, the principal amounts) of the particular Notes of such series to be redeemed,

 (4)     in case any Note is to be redeemed in part only, the notice which relates to such
Note shall state that on and after the Redemption Date, upon surrender of such Note, the holder will receive, without charge, a new Note or Notes of authorized denominations for the principal amount thereof remaining unredeemed, 

(5)     that on the Redemption Date the Redemption Price (and accrued interest, if any, to the
Redemption Date payable as provided in Section 1108) will become due and payable upon each such Note, or the portion thereof, to be redeemed, and that interest thereon will cease to accrue on and after said date, 

(6)     the place or places where such Notes are to be surrendered for payment of the Redemption
Price and accrued interest, if any, 
 (7)     the name and address of the Paying Agent,


  
 -98- 








 (8)    that Notes called for redemption must be
surrendered to the Paying Agent to collect the Redemption Price, 
 (9)    the CUSIP number,
and that no representation is made as to the accuracy or correctness of the CUSIP number, if any, listed in such notice or printed on the Notes, 
 (10)    the paragraph of the Notes pursuant to which the Notes are to be redeemed; and 
 (11)    any condition to such redemption. 
 Notice of
redemption of Notes to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, upon notice to the Trustee of at least 35 days prior to such Redemption Date (unless a shorter notice shall be
satisfactory to the Trustee) by the Trustee in the name and at the expense of the Company. 
 SECTION
1107.        Deposit of Redemption Price. 
 On or before 10:00 a.m. New York
City time on Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay
the Redemption Price of, and accrued interest, if any, on, all the Notes which are to be redeemed on that date. The Trustee or the Paying Agent will promptly return to the Company any money deposited with the Trustee or the Paying Agent by the
Company in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest, if any, on, all Notes to be redeemed or purchased. 
 SECTION 1108.        Notes Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Notes so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified (together with accrued
interest and Special Interest, if any, to the Redemption Date) (except as provided in Section 1101(e)), and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Notes shall
cease to bear interest. Upon surrender of any such Note for redemption in accordance with said notice, such Note shall be paid by the Company at the Redemption Price, together with accrued interest and Special Interest, if any, to the Redemption
Date; provided, however, that installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Notes, or one or more Predecessor Notes, registered as such at the close of
business on the relevant Record Dates according to their terms and the provisions of Section 307. 
 If any Note called for
redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Notes. 

SECTION 1109.        Notes Redeemed in Part. 

Any Note which is to be redeemed only in part (pursuant to the provisions of this Article) shall be surrendered at the office or agency
of the Company maintained for such purpose pursuant to Section 1002 (with, if the Company or the Trustee so requires, 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), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Note without service charge, a new Note or Notes, of any authorized
denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Note so surrendered. 

  
 -99- 








 ARTICLE Twelve 

DEFEASANCE AND COVENANT DEFEASANCE 
 SECTION 1201.        Company’s Option To Effect Legal Defeasance or Covenant Defeasance. 

The Company may, at its option by Board Resolution, at any time, with respect to the Notes, elect to have either Section 1202 or
Section 1203 applied to all Outstanding Notes of a particular series upon compliance with the conditions set forth below in this Article Twelve. 
 SECTION 1202.        Legal Defeasance and Discharge. 
 Upon the Company’s exercise under Section 1201 of the option applicable to this Section 1202, the Company shall be deemed to have been discharged from its respective obligations with
respect to all Outstanding Notes of a particular series on the date the conditions set forth in Section 1204 are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that the Company shall be
deemed to have paid and discharged the entire indebtedness represented by the Outstanding Notes of such series, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 1205 and the other Sections of this
Indenture referred to in (A) and (B) below, and to have satisfied all its other obligations under such Notes and this Indenture insofar as such series of Notes are concerned (and the Trustee, at the expense of the Company, shall execute
proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of such series of Outstanding Notes to receive payments in respect of the
principal of (and premium, if any, on) and interest on such Notes when such payments are due, solely out of the trust described in Section 1204, (B) the Company’s obligations with respect to Notes of such series under Sections 304,
305, 306, 1002 and 1003, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder, and the obligations of the Company in connection therewith and (D) this Article Twelve. Subject to compliance with this Article
Twelve, the Company may exercise its option under this Section 1202 notwithstanding the prior exercise of its option under Section 1203 with respect to the Notes of a particular series. 

SECTION 1203.        Covenant Defeasance. 

Upon the Company’s exercise under Section 1201 of the option applicable to this Section 1203, the Company shall be
released from its respective obligations under any covenant contained in Sections 801, 802 and in Sections 1005, 1006, 1007, 1009 through 1018 with respect to the Outstanding Notes of a particular series on and after the date the conditions set
forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Notes of such series shall thereafter be deemed not to be “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders
(and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such Covenant Defeasance means that, with respect to the Outstanding
Notes of such series, the Company, may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any
such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default with respect to such series of Notes under
Sections 501(3), 501(4), 501(5) and 501(7) and, with respect to only any Significant Subsidiary and not the Company, Section 501(6), but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby.


  
 -100- 








 SECTION 1204.        Conditions to Legal
Defeasance or Covenant Defeasance. 
 The following shall be the conditions to application of either Section 1202 or
Section 1203 to the Outstanding Notes of either series: 
 (1)    The Company shall
irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 608 who shall agree to comply with the provisions of this Article Twelve applicable to it) as trust funds in trust
for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to the benefit of the Holders of such Notes; (A) cash in U.S. dollars, or (B) Government Securities, or (C) a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized investment banking firm, appraisal firm or firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay
and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, the principal of (and premium, if any) and interest on the Outstanding Notes of such series on the Stated Maturity (or Redemption Date, if
applicable); provided that the Trustee shall have been irrevocably instructed to apply such cash or the proceeds of such Government Securities to said payments with respect to the Notes of such series. Before such a deposit, the Company may
give to the Trustee, in accordance with Section 1104 hereof, a notice of its election to redeem all of the Outstanding Notes of such series at a future date in accordance with Article Eleven hereof, which notice shall be irrevocable. Such
irrevocable redemption notice, if given, shall be given effect in applying the foregoing; 

(2)    in the case of Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of
Counsel in the United States reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, 
 (A)    the Company has received from, or there has been published by, the United States Internal Revenue Service a ruling, or 

(B)    since the issuance of the Notes of such series, there has been a change in the applicable U.S.
Federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel in the United States
shall confirm that, subject to customary assumptions and exclusions, the Holders of the Outstanding Notes of such series will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Legal Defeasance and will be
subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3)    in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an Opinion
of Counsel in the United States reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, the Holders of the Outstanding Notes of such series will not recognize income, gain or loss for U.S. Federal
income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 (4)    no Default or Event of Default with respect to the Outstanding Notes of such
series (other than that resulting from borrowing funds to be applied to make such deposit or the granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit; 

(5)    such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or
constitute a default under any other material agreement or instrument (other than this Indenture) to which, the Company is a party or by which the Company is bound (other than that resulting from borrowing funds to be applied to make such deposit
and the granting of Liens in connection therewith); 

  
 -101- 








 (6)    the Company shall have delivered to the Trustee
an Officers’ Certificate stating that the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

(7)    the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel in the United States (which Opinion of Counsel may be subject to customary assumptions and exclusions), each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case
may be, have been complied with. 
 SECTION 1205.        Deposited Money and
Government Securities To Be Held in Trust; Other Miscellaneous Provisions. 
 Subject to the provisions of the last
paragraph of Section 1003, all cash and Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 1205, the “Trustee”) pursuant to
Section 1204 in respect of the Outstanding Notes of the applicable series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes 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 Holders of such Notes of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money or
Government Securities need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Securities deposited pursuant to Section 1204 or the principal and interest received in respect thereof other than any such tax, fee or
other charge which by law is for the account of the Holders of the Outstanding Notes. 
 Anything in this Article Twelve to the
contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Securities held by it as provided in Section 1204 which, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance,
as applicable, in accordance with this Article. 
 SECTION
1206.        Reinstatement. 
 If the Trustee or any Paying Agent is unable to
apply any money or Government Securities in accordance with Section 1205 by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s
obligations under this Indenture and the Outstanding Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 1202 or 1303, as the case may be, until such time as the Trustee or Paying Agent is permitted to
apply all such money or Government Securities in accordance with Section 1205; provided, however, that if the Company makes any payment of principal of (or premium, if any) or interest on any Note following the reinstatement of
its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 

[Signature pages follow] 

  
 -102- 








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

					
	AIRCASTLE LIMITED
		
	By:	 	 /s/ David Walton

		 	Name:	 	  David Walton
		 	Title:	 	  Chief Operating Officer, General Counsel and Secretary









 
					
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	     /s/ Richard Prokosch

		 	Name:	 	  Richard Prokosch
		 	Title:	 	  Vice President



  
 -2- 








 EXHIBIT A-1 
 [FACE OF NOTE] 
 AIRCASTLE LIMITED 

6.75% Senior Note due 2017 
  

			
	No.	  	CUSIP No.            

 $ 
 AIRCASTLE LIMITED, a Bermuda exempted company (the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, promises to pay
to                                 , or its registered assigns, the principal sum
of             Dollars ($        ), on April 15, 2017. 
  

			
	 Interest Rate:
	  	6.75% per annum.
	 Interest Payment Dates:
	  	April 15 and October 15 of each year commencing October 15, 2012.
	 Regular Record Dates:
	  	April 1 and October 1 of each year.

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

  
 A-1-1 








 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officers. 
  

			
	AIRCASTLE LIMITED
		
	By:    	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:



  
 A-1-2 








 (Form of Trustee’s Certificate of Authentication) 

This is one of the 6.75% Senior Notes due 2017 referred to in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Trustee

		
	By:    	 	  

		 	Authorized Signatory


  

			
	Dated:    	 	 


  
 A-1-3 








 [REVERSE SIDE OF NOTE] 

AIRCASTLE LIMITED 

6.75% Senior Note due 2017 
  

	1.	Principal and Interest. 


The Company will pay the principal of the 6.75% Senior Notes due 2017 (the “Notes”) on April 15, 2017. 

The Company promises to pay interest and Special Interest, if any, on the principal amount of this Note on each Interest Payment Date, as
set forth below, at the rate of 6.75% per annum [(subject to adjustment as provided below)] [except that interest accrued on this Note pursuant to the fourth paragraph of this Section 1 for periods prior to the applicable dates on which
the Exchange Offer Registration Statement or Shelf Registration Statement (as such terms are defined in the Registration Rights Agreement referred to below) become effective will accrue at the rate or rates borne by the Notes from time to time
during such periods].(1) 
 Interest, and Special Interest, if any, will be payable semi-annually (to the Holders of record of
the Notes (or any Predecessor Notes) at the close of business on April 1 or October 1 immediately preceding the Interest Payment Date) on each Interest Payment Date, commencing October 15, 2012. 

The Holder of this Note is entitled to the benefits of the Registration Rights Agreement, dated April 4, 2012, among the Company and
the Initial Purchasers named therein (the “Registration Rights Agreement”).(2) 
 Interest on this Note will accrue
from the most recent date to which interest has been paid [on this Note or the Note surrendered in exchange herefor] (3) or, if no interest has been paid, from April 4, 2012; provided that, if there is no existing default in the
payment of interest and if this Note is authenticated between a Regular Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such Interest Payment Date. Interest will be computed on the
basis of a 360-day year of twelve 30-day months. 
 The Company shall pay interest and Special Interest if any, on overdue
principal and premium, if any, and interest on overdue installments of interest, to the extent lawful, at a rate per annum equal to the rate of interest applicable to the Notes. 

 
  

	(1)	Include only for Exchange Note. 


	(2)	Include only for Initial Note. 


	(3)	Include only for Exchange Note. 

  

	2.    	Method of Payment. 

 The
Company will pay interest (except defaulted interest) and Special Interest, if any, on the principal amount of the Notes on each April 15 and October 15 to the Persons who are Holders (as reflected in the Note Register at the close of
business on April 1 and October 1 immediately preceding the Interest Payment Date), in each case, even if the Note is cancelled on registration of transfer or registration of exchange after such Regular Record Date; provided that,
with respect to the payment of principal, the Company will make payment to the Holder that surrenders this Note to any Paying Agent on or after April 15, 2017. 

  
 A-1-4 








 The Company will pay principal (premium, if any) and interest in money of the United States
that at the time of payment is legal tender for payment of public and private debts.The principal of (and premium, if any) and interest on the Notes shall be payable at the office or agency of the Company maintained for such purpose in The City and
State of New York or, at the option of the Company, payment of interest may be made by check mailed to the Holders of the Notes at their respective addresses set forth in the Note Register of Holders; provided that all payments of principal,
premium, if any, and interest, if any, with respect to Notes represented by one or more Global Notes registered in the name of or held by Depositary or its nominee will be made by wire transfer of immediately available funds to the accounts
specified by the Holder or Holders thereof. Until otherwise designated by the Company, the Company’s office or agency in New York shall be the office of the Trustee maintained for such purpose. If a payment date is a date other than a Business
Day at a place of payment, payment may be made at that place on the next succeeding day that is a Business Day and no interest shall accrue for the intervening period. 
  


	3.    Paying	Agent and Note Registrar. 


Initially, the Trustee will act as Paying Agent and Note Registrar. The Company may change any Paying Agent or Note Registrar upon
written notice thereto. The Company may act as Paying Agent, Note Registrar or co-registrar. 
  

	4.    Indenture;	Limitations. 

 The
Company issued the Notes under an Indenture dated as of April 4, 2012 (the “Indenture”), among the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”). Capitalized terms herein are used as defined
in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred
to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture
shall control. 
 The Notes are senior unsecured obligations of the Company. The Indenture does not limit the aggregate
principal amount of the Notes. 
  

	5.    Redemption.	

 Optional Redemption.
Prior to April 15, 2015, the Company may, at its option, redeem up to 35% of the aggregate principal amount of Notes issued under the Indenture at a Redemption Price equal to 106.75% of the aggregate principal amount thereof, plus accrued and
unpaid interest thereon, if any, to, but not including, the Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date, with the net proceeds of one or more
Equity Offerings of the Company; provided that at least 65% of the sum of the aggregate principal amount of Notes originally issued under the Indenture on the Issue Date remains outstanding immediately after the occurrence of each such
redemption; provided, further, that each such redemption occurs within 90 days of the date of closing of each such Equity Offering. 
 The Company may also redeem all or a part of the Notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each Holder’s registered address, at a Redemption
Price equal to the greater of (a) 100% of the principal amount of Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date, and (b) the sum of the present values of the remaining scheduled
payments of principal and interest on the Notes from the Redemption Date to, but not including, the maturity date of the Notes (computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points), plus accrued
and unpaid interest to, but not including, the Redemption Date. 

  
 A-1-5 








 The Company will be entitled, at its option, to redeem the Notes in whole if at any time it
becomes obligated to pay additional amounts on the Notes on the next interest payment date with respect to the Notes, but only if its obligation results from a change in, or an amendment to, the laws or treaties (including any regulations or
official rulings promulgated thereunder) of a Relevant Tax Jurisdiction (or a political subdivision or taxing authority thereof or therein), or from a change in any official position regarding the interpretation, administration or application of
those laws, treaties, regulations or official rulings (including a change resulting from a holding, judgment or order by a court of competent jurisdiction), that becomes effective and is announced after the Issue Date (or, if the applicable Relevant
Tax Jurisdiction became a Relevant Tax Jurisdiction on a date after the Issue Date, such later date) and provided the Company cannot avoid the obligation after taking reasonable measures to do so. If the Company redeems the Notes in these
circumstances, it will do so at a Redemption Price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, and any other amounts due to the redemption date. 

If the Company becomes entitled to redeem the Notes in these circumstances, it may do so at any time on a redemption date of its choice.
However, the Company must give the Holders of the Notes being redeemed notice of the redemption not less than 30 days or more than 60 days before the redemption date and not more than 90 days before the next date on which it would be obligated to
pay additional amounts. In addition, the Company’s obligation to pay additional amounts must remain in effect when it gives the notice of redemption. Notice of the Company’s intent to redeem the Notes shall not be effective until such time
as it delivers to the Trustee both a certificate signed by two of its officers stating that the obligation to pay additional amounts cannot be avoided by taking reasonable measures and an opinion of independent legal counsel or an independent
auditor stating that the Company is obligated to pay additional amounts because of an amendment to or change in law, treaties or position as described in the preceding paragraph. 

In addition to the Company’s rights to redeem Notes as set forth above, the Company may at any time purchase Notes in open-market
transactions, tender offers or otherwise. 
  

	6.    Repurchase	upon a Change in Control and Asset Sales. 

 Upon the occurrence of (a) a Change in Control, the Holders of the Notes will have the right to require that the Company purchase such Holder’s outstanding Notes, in whole or in part, at a
purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of purchase and (b) Asset Sales, the Company may be obligated to make offers to purchase Notes and other senior
Indebtedness with a portion of the Net Proceeds of such Asset Sales at a Redemption Price of 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase. 

 

	7.    Denominations;	Transfer; Exchange. 

 The
Notes are in registered form without coupons, in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Note Registrar may
require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Note Registrar need not register the transfer or exchange of any Notes
(i) during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 1105 of the Indenture and ending at the close of business on the day of such selection,
(ii) selected for redemption (except the unredeemed portion of any Note being redeemed in part) and (iii) between a Record Date and the next succeeding Interest Payment Date. 

 

	8.    Persons	Deemed Owners. 

 A
registered Holder may be treated as the owner of a Note for all purposes. 

  
 A-1-6 









	9.    Unclaimed	Money. 

 If money for the
payment of principal (premium, if any) or interest remains unclaimed for two years, the Trustee and the Paying Agent will pay the money back to the Company at its written request. After that, Holders entitled to the money must look to the Company
for payment, unless an abandoned property law designates another Person, and all liability of the Trustee and such Paying Agent with respect to such money shall cease. 
  


	10.    Discharge	and Defeasance Prior to Redemption or Maturity. 

 Subject to certain conditions, the Company at any time shall be entitled to terminate some or all of its obligations under the Notes and the Indenture if the Company deposits with the Trustee money or
Government Obligations for the payment of principal and interest on the Notes to redemption or maturity, as the case may be. 
  

	11.    Amendment;	Supplement; Waiver. 


Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a
majority in aggregate principal amount of the Outstanding Notes, and any existing Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes. Without
notice to or the consent of any Holder, the parties thereto may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency and make any change that does not adversely affect the rights of any
Holder. 
  

	12.    Restrictive	Covenants. 

 The
Indenture contains certain covenants, including, without limitation, covenants with respect to the following matters: (i) Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock; (ii) Restricted Payments;
(iii) Transactions with Affiliates; (iv) Liens; (v) Purchase of Notes upon a Change in Control; (vi) Disposition of Proceeds of Asset Sales; (vii) Note Guarantees; (viii) Dividend and Other Payment Restrictions
Affecting Restricted Subsidiaries; and (ix) Amalgamation, Merger, Consolidation or Sale of all or Substantially all Assets. 
  

	13.    Successor	Persons. 

 When a
successor Person or other entity assumes all the obligations of its predecessor under the Notes and the Indenture, the predecessor Person will be released from those obligations. 

 

	14.    Remedies	for Events of Default. 


If an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal
amount of the Outstanding Notes may declare all the Notes to be immediately due and payable. If a bankruptcy or insolvency default with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, the Notes automatically
become immediately due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity reasonably satisfactory to it before it enforces the Indenture or the Notes. Subject to
certain limitations, Holders of at least a majority in aggregate principal amount of the Outstanding Notes may direct the Trustee in its exercise of any trust or power. 

  
 A-1-7 









	15.    Guarantees.	

 If the Notes are guaranteed,
the Company’s obligations under the Notes are fully, irrevocably and unconditionally guaranteed on a senior basis, to the extent set forth in the Indenture, by each of the Guarantors. 

 

	16.    Trustee	Dealings with Company. 


The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may make loans to,
accept deposits from, perform services for, and otherwise deal with, the Company and its Affiliates as if it were not the Trustee. 
  

	16.    Authentication.	

 This Note shall not be valid
until the Trustee signs the certificate of authentication on the other side of this Note. 
  

	17.    Abbreviations.	

 Customary abbreviations may be
used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform
Gifts to Minors Act). 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be
made to Aircastle Limited, 300 First Stamford Place, 5th Floor, Stamford, Connecticut 06902, attention of Dave Walton, General Counsel. 
  

	18.    Additional	Rights of Holders of Restricted Global Notes and Restricted Definitive Notes. 


In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive
Notes will have all the rights set forth in the Registration Rights Agreement dated as of April 4, 2012, between the Company and the other parties named on the signature pages thereof or, in the case of Additional Notes, Holders of Restricted
Global Notes and Restricted Definitive Notes will have the rights set forth in one or more registration rights agreements, if any, between the Company and the other parties thereto, relating to rights given by the Company to the purchasers of any
Additional Notes (collectively, the “Registration Rights Agreement”). 
  

	19.    GOVERNING	LAW. 

 THIS NOTE SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
 A-1-8 








 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 (I) or (we) assign and transfer this Note to:

  
  
 (Insert assignee’s legal name) 
  

 
 (Insert assignee’s soc. sec.
or tax I.D. no.) 
  
  

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

 

			
	and irrevocably appoint	 	 

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

 

			
	Date:	 	 

  

			
	Your Signature:	 	  

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


  

			
	Signature Guarantee*:    	 	 

  
  

 

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


  
 A-1-9 








 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 1016 or 1017 of the Indenture, check the
appropriate box below: 
  ̈
Section 1016                                
 ̈ Section 1017 
 If you want to elect to have only part of the Note
purchased by the Company pursuant to Section 1016 or Section 1017 of the Indenture, state the amount you elect to have purchased: 
  

			
	$	  	  



 

					
	Date:	 	 	 	

  

			
	Your Signature:	 	  

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



 

			
	Tax Identification No.:	 	  



  

			
	Signature Guarantee*:	 	 

  
  

 

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


  
 A-1-10 








 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	 Amount of decrease in
Principal Amount
of
this Global Note
	  	 Amount of increase in
Principal Amount
of
this Global Note
	  	 Principal Amount

of this Global Note
following such
decrease (or increase)
	  	 Signature of
authorized signatory
of
Trustee or Custodian


  
  

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

  
 A-1-11 








 EXHIBIT A-2 
 [FACE OF NOTE] 
 AIRCASTLE LIMITED 

7.625% Senior Note due 2020 
  

					
	No.	  	CUSIP No.            	 
		  	 	$	  

 AIRCASTLE LIMITED, a Bermuda exempted company (the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), for value received, promises to pay to                     , or its registered assigns, the
principal sum of                     Dollars ($            ), on April 15, 2020.

  

			
	Interest Rate:	  	7.625% per annum.
	Interest Payment Dates:	  	April 15 and October 15 of each year commencing October 15, 2012.
	Regular Record Dates:	  	April 1 and October 1 of each year.

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

  
 A-2-1 








 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officers. 
  

			
	AIRCASTLE LIMITED
		
	By:    	 	  

		 	Name:
		 	Title:
		
	By:    	 	  

		 	Name:
		 	Title:



  
 A-2-2 








 (Form of Trustee’s Certificate of Authentication) 

This is one of the 7.625% Senior Notes due 2020 referred to in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

		
	By:    	 	  

		 	Authorized Signatory


  

			
	Dated:    	 	 


  
 A-2-3 








 [REVERSE SIDE OF NOTE] 

AIRCASTLE LIMITED 

7.625% Senior Note due 2020 
  

	1.	Principal and Interest. 


The Company will pay the principal of the 7.625% Senior Notes due 2020 (the “Notes”) on April 15, 2020. 

The Company promises to pay interest and Special Interest, if any, on the principal amount of this Note on each Interest Payment Date, as
set forth below, at the rate of 7.625% per annum [(subject to adjustment as provided below)] [except that interest accrued on this Note pursuant to the fourth paragraph of this Section 1 for periods prior to the applicable dates on which
the Exchange Offer Registration Statement or Shelf Registration Statement (as such terms are defined in the Registration Rights Agreement referred to below) become effective will accrue at the rate or rates borne by the Notes from time to time
during such periods].(1) 
 Interest, and Special Interest, if any, will be payable semi-annually (to the Holders of record of
the Notes (or any Predecessor Notes) at the close of business on April 1 or October 1 immediately preceding the Interest Payment Date) on each Interest Payment Date, commencing October 15, 2012. 

The Holder of this Note is entitled to the benefits of the Registration Rights Agreement, dated April 4, 2012, among the Company and
the Initial Purchasers named therein (the “Registration Rights Agreement”).(2) 
 Interest on this Note will accrue
from the most recent date to which interest has been paid [on this Note or the Note surrendered in exchange herefor] (3) or, if no interest has been paid, from April 4, 2012; provided that, if there is no existing default in the
payment of interest and if this Note is authenticated between a Regular Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such Interest Payment Date. Interest will be computed on the
basis of a 360-day year of twelve 30-day months. 
 The Company shall pay interest and Special Interest if any, on overdue
principal and premium, if any, and interest on overdue installments of interest, to the extent lawful, at a rate per annum equal to the rate of interest applicable to the Notes. 

 
  

	(1)	Include only for Exchange Note. 


	(2)	Include only for Initial Note. 


	(3)	Include only for Exchange Note. 

  

	2.	Method of Payment. 

 The
Company will pay interest (except defaulted interest) and Special Interest, if any, on the principal amount of the Notes on each April 15 and October 15 to the Persons who are Holders (as reflected in the Note Register at the close of
business on April 1 and October 1 immediately preceding the Interest Payment Date), in each case, even if the Note is cancelled on registration of transfer or registration of exchange after such Regular Record Date; provided that,
with respect to the payment of principal, the Company will make payment to the Holder that surrenders this Note to any Paying Agent on or after April 15, 2020. 

  
 A-2-4 








 The Company will pay principal (premium, if any) and interest in money of the United States
that at the time of payment is legal tender for payment of public and private debts. The principal of (and premium, if any) and interest on the Notes shall be payable at the office or agency of the Company maintained for such purpose in The City and
State of New York or, at the option of the Company, payment of interest may be made by check mailed to the Holders of the Notes at their respective addresses set forth in the Note Register of Holders; provided that all payments of principal,
premium, if any, and interest, if any, with respect to Notes represented by one or more Global Notes registered in the name of or held by Depositary or its nominee will be made by wire transfer of immediately available funds to the accounts
specified by the Holder or Holders thereof. Until otherwise designated by the Company, the Company’s office or agency in New York shall be the office of the Trustee maintained for such purpose. If a payment date is a date other than a Business
Day at a place of payment, payment may be made at that place on the next succeeding day that is a Business Day and no interest shall accrue for the intervening period. 
  


	3.	Paying Agent and Note Registrar. 

 Initially, the Trustee will act as Paying Agent and Note Registrar. The Company may change any Paying Agent or Note Registrar upon written notice thereto. The Company may act as Paying Agent, Note
Registrar or co-registrar. 
  

	4.	Indenture; Limitations. 


The Company issued the Notes under an Indenture dated as of April 4, 2012 (the “Indenture”), among the Company and Wells
Fargo Bank, National Association, as trustee (the “Trustee”). Capitalized terms herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the
event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture shall control. 
 The Notes are senior unsecured obligations of the Company. The Indenture does not limit the aggregate principal amount of the Notes. 

 

	5.	Redemption. 

 Optional
Redemption. Prior to April 15, 2015, the Company may, at its option, redeem up to 35% of the aggregate principal amount of Notes issued under the Indenture at a Redemption Price equal to 107.625% of the aggregate principal amount thereof,
plus accrued and unpaid interest thereon, if any, to, but not including, the Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date, with the net proceeds
of one or more Equity Offerings of the Company; provided that at least 65% of the sum of the aggregate principal amount of the Notes originally issued under the Indenture on the Issue Date remains outstanding immediately after the occurrence
of each such redemption; provided, further, that each such redemption occurs within 90 days of the date of closing of each such Equity Offering. 
 The Company may also redeem all or a part of the Notes, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each Holder’s registered address, at a Redemption
Price equal to the greater of (a) 100% of the principal amount of Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date, and (b) the sum of the present values of the remaining scheduled
payments of principal and interest on the Notes from the Redemption Date to, but not including, the maturity date of the Notes (computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points), plus accrued
and unpaid interest to, but not including, the Redemption Date. 

  
 A-2-5 








 The Company will be entitled, at its option, to redeem the Notes in whole if at any time it
becomes obligated to pay additional amounts on the Notes on the next interest payment date with respect to the Notes, but only if its obligation results from a change in, or an amendment to, the laws or treaties (including any regulations or
official rulings promulgated thereunder) of a Relevant Tax Jurisdiction (or a political subdivision or taxing authority thereof or therein), or from a change in any official position regarding the interpretation, administration or application of
those laws, treaties, regulations or official rulings (including a change resulting from a holding, judgment or order by a court of competent jurisdiction), that becomes effective and is announced after the Issue Date (or, if the applicable Relevant
Tax Jurisdiction became a Relevant Tax Jurisdiction on a date after the Issue Date, such later date) and provided the Company cannot avoid the obligation after taking reasonable measures to do so. If the Company redeems the Notes in these
circumstances, it will do so at a Redemption Price equal to 100% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, and any other amounts due to the redemption date. 

If the Company becomes entitled to redeem the Notes in these circumstances, it may do so at any time on a redemption date of its choice.
However, the Company must give the Holders of the Notes being redeemed notice of the redemption not less than 30 days or more than 60 days before the redemption date and not more than 90 days before the next date on which it would be obligated to
pay additional amounts. In addition, the Company’s obligation to pay additional amounts must remain in effect when it gives the notice of redemption. Notice of the Company’s intent to redeem the Notes shall not be effective until such time
as it delivers to the Trustee both a certificate signed by two of its officers stating that the obligation to pay additional amounts cannot be avoided by taking reasonable measures and an opinion of independent legal counsel or an independent
auditor stating that the Company is obligated to pay additional amounts because of an amendment to or change in law, treaties or position as described in the preceding paragraph. 

In addition to the Company’s rights to redeem Notes as set forth above, the Company may at any time purchase Notes in open-market
transactions, tender offers or otherwise. 
  

	6.    	Repurchase upon a Change in Control and Asset Sales. 

 Upon the occurrence of (a) a Change in Control, the Holders of the Notes will have the right to require that the Company purchase such Holder’s outstanding Notes, in whole or in part, at a
purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of purchase and (b) Asset Sales, the Company may be obligated to make offers to purchase Notes and other senior
Indebtedness with a portion of the Net Proceeds of such Asset Sales at a Redemption Price of 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase. 

 

	7.    	Denominations; Transfer; Exchange. 

 The Notes are in registered form without coupons, in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer or exchange of Notes in
accordance with the Indenture. The Note Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Note Registrar
need not register the transfer or exchange of any Notes (i) during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 1105 of the Indenture and ending at the close of
business on the day of such selection, (ii) selected for redemption (except the unredeemed portion of any Note being redeemed in part) and (iii) between a Record Date and the next succeeding Interest Payment Date. 

 

	8.    	Persons Deemed Owners. 


A registered Holder may be treated as the owner of a Note for all purposes. 

  
 A-2-6 









	9.    	Unclaimed Money. 

 If
money for the payment of principal (premium, if any) or interest remains unclaimed for two years, the Trustee and the Paying Agent will pay the money back to the Company at its written request. After that, Holders entitled to the money must look to
the Company for payment, unless an abandoned property law designates another Person, and all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

 

	10.    	Discharge and Defeasance Prior to Redemption or Maturity. 

 Subject to certain conditions, the Company at any time shall be entitled to terminate some or all of its obligations under the Notes and the Indenture if the Company deposits with the Trustee money or
Government Obligations for the payment of principal and interest on the Notes to redemption or maturity, as the case may be. 
  

	11.    	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Outstanding Notes, and
any existing Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes. Without notice to or the consent of any Holder, the parties thereto may amend
or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency and make any change that does not adversely affect the rights of any Holder. 

 

	12.    	Restrictive Covenants. 


The Indenture contains certain covenants, including, without limitation, covenants with respect to the following matters:
(i) Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock; (ii) Restricted Payments; (iii) Transactions with Affiliates; (iv) Liens; (v) Purchase of Notes upon a Change in Control;
(vi) Disposition of Proceeds of Asset Sales; (vii) Note Guarantees; (viii) Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries; and (ix) Amalgamation, Merger, Consolidation or Sale of all or Substantially
all Assets. 
  

	13.    	Successor Persons. 

 When
a successor Person or other entity assumes all the obligations of its predecessor under the Notes and the Indenture, the predecessor Person will be released from those obligations. 

 

	14.    	Remedies for Events of Default. 

 If an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Outstanding Notes may declare all the Notes to be
immediately due and payable. If a bankruptcy or insolvency default with respect to the Company or any of its Significant Subsidiaries occurs and is continuing, the Notes automatically become immediately due and payable. Holders may not enforce the
Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity reasonably satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of at least a majority in aggregate
principal amount of the Outstanding Notes may direct the Trustee in its exercise of any trust or power. 

  
 A-2-7 









	15.    	Guarantees. 

 If the
Notes are guaranteed, the Company’s obligations under the Notes are fully, irrevocably and unconditionally guaranteed on a senior basis, to the extent set forth in the Indenture, by each of the Guarantors. 

 

	16.    	Trustee Dealings with Company. 

 The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may make loans to, accept deposits from, perform services for, and otherwise deal
with, the Company and its Affiliates as if it were not the Trustee. 
  

	16.    	Authentication. 

 This
Note shall not be valid until the Trustee signs the certificate of authentication on the other side of this Note. 
  

	17.    	Abbreviations. 


Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by
the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors Act). 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to Aircastle Limited, 300 First Stamford Place, 5th Floor, Stamford,
Connecticut 06902, attention of Dave Walton, General Counsel. 
  

	18.    	Additional Rights of Holders of Restricted Global Notes and Restricted Definitive Notes. 


In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive
Notes will have all the rights set forth in the Registration Rights Agreement dated as of April 4, 2012, between the Company and the other parties named on the signature pages thereof or, in the case of Additional Notes, Holders of Restricted
Global Notes and Restricted Definitive Notes will have the rights set forth in one or more registration rights agreements, if any, between the Company and the other parties thereto, relating to rights given by the Company to the purchasers of any
Additional Notes (collectively, the “Registration Rights Agreement”). 
  

	19.    	GOVERNING LAW. 

 THIS
NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
 A-2-8 








 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 (I) or (we) assign and transfer this Note to:

  
  
 (Insert assignee’s legal name) 
  

 
 (Insert assignee’s soc. sec.
or tax I.D. no.) 
  
  

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

 

			
	and irrevocably appoint	 	  


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

					
	Date:	 	  
	 	

  

			
	Your Signature:	 	  

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


  

			
	Signature Guarantee*:	 	 

  
  

 

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


  
 A-2-9 








 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 1016 or 1017 of the Indenture, check the
appropriate box below: 
  ̈
Section 1016                             ̈
Section 1017 
 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 1016
or Section 1017 of the Indenture, state the amount you elect to have purchased: 
  

			
	$	  	  



 

					
	Date:	 	 	 	

  

			
	Your Signature:	 	  

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



 

			
	Tax Identification No.:	 	  



  

			
	Signature Guarantee*:	 	 

  
  

 

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


  
 A-2-10 








 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	 Amount of decrease

in Principal Amount

of this Global Note
	  	 Amount of increase

in Principal Amount

of this Global Note
	  	 Principal Amount

of this Global Note
following such
decrease (or increase)
	  	 Signature of
authorized signatory
of
Trustee
 or Custodian

					
		  		  		  		  	

  

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


  
 A-2-11 








 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Aircastle Limited 

300 First Stamford Place, 5th Floor 
 Stamford,
CT 06902 
 Wells Fargo Bank, National Association 
 625 Marquette Avenue, 11th Floor 
 MAC-N9311-115 

Minneapolis, MN 55479 
  

					
		  	 Re:   [6.75% Senior Notes due 2017/7.625% Senior Notes due
2020]
 (the “Notes”)


 Reference is hereby made to the Indenture, dated as of April 4, 2012 (the
“Indenture”), among Aircastle Limited, a company incorporated under the laws of Bermuda (the “Company”) and Wells Fargo Bank, National Association, as trustee. Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture. 

                    (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $            in such
Note[s] or interests (the “Transfer”), to                     (the “Transferee”), as further specified in
Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 

1.         ̈ Check if Transferee will take delivery of a
beneficial interest in the 144A Global Note or a Restricted Definitive Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial
interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the
meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance
with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note
and in the Indenture and the Securities Act. 

2.         ̈ Check if Transferee will take
delivery of a beneficial interest in the Regulation S Global Note or a Restricted Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and,
accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor
and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither
such Transferor nor any Person acting 

  
 B-1 








 
on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule
903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the
expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the
Indenture and the Securities Act. 

3.         ̈ Check and complete if Transferee
will take delivery of a beneficial interest in the IAI Global Note or a Restricted Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the
transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United
States, and accordingly the Transferor hereby further certifies that (check one): 
 (a)     ̈ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; 
 or 

(b)     ̈ such Transfer is being effected to the
Company or a subsidiary thereof; 
 or 
 (c)     ̈ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with
the prospectus delivery requirements of the Securities Act; 
 or 

(d)     ̈ such Transfer is being effected to an
Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any
general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the
requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a
copy of which the Transferor has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Note and/or the Restricted Definitive Notes and in the Indenture and the Securities Act.

 4.         ̈ Check if Transferee
will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive Note. 

(a)    Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in
accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the


  
 B-2 








 
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed
Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global
Notes, on Restricted Definitive Notes and in the Indenture. 
 (b)    Check if Transfer is Pursuant to
Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of
the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
 (c)    Check if Transfer
is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

 

			
	  
 [Insert Name of
Transferor]

		
	By:	 	  

		 	Name:
		 	Title:


 Dated:
                         

  
 B-3 








 ANNEX A TO CERTIFICATE OF TRANSFER 

1.    The Transferor owns and proposes to transfer the following: 

[CHECK ONE OF (a) OR (b)] 
  

									
	 (i)
	 	      ̈
	 	a beneficial interest in the:	  	
				
		 	 (i)
	 	 ̈ 144A Global Note (CUSIP     ), or	  	
				
		 	 (ii)
	 	 ̈ Regulation S Global Note (CUSIP     ), or	  	
				
		 	 (iii)
	 	 ̈ IAI Global Note (CUSIP     ); or	  	
				
		 	 (iv)
	 	 ̈ Unrestricted Global Note (CUSIP             );
or	  	
				
	(b)	 	     ̈	 	a Restricted Definitive Note.	  	

 2.     After the Transfer the Transferee will hold: 

[CHECK ONE] 
  

									
	 (a)
	 	      ̈
	 	a beneficial interest in the:	  	
				
		 	 (i)
	 	 ̈ 144A Global Note (CUSIP     ), or	  	
				
		 	 (ii)
	 	 ̈ Regulation S Global Note (CUSIP     ), or	  	
				
		 	 (iii)
	 	 ̈ IAI Global Note (CUSIP     ); or	  	
				
	(b)	 	     ̈	 	a Restricted Definitive Note;	  	
			
	(c)	 	    an Unrestricted Definitive Note,	  	

 in accordance with the terms of the Indenture. 

  
 B-4 








 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Aircastle Limited 

300 First Stamford Place, 5th Floor 
 Stamford,
CT 06902 
 Wells Fargo Bank, National Association 
 625 Marquette Avenue, 11th Floor 
 MAC-N9311-115 

Minneapolis, MN 55479 
  

					
		  	
Re:   [6.75% Senior Notes due 2017/7.625% Senior Notes 
due 2020]
 (the “Notes”)
	  	

 [(CUSIP     )/(CUSIP     )] 

Reference is hereby made to the Indenture, dated as of April 4, 2012 (the “Indenture”), among Aircastle Limited, a
company incorporated under the laws of Bermuda (the “Company”) and Wells Fargo Bank, National Association, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

                    (the
“Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $            in such Note[s] or interests
(the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

1.     Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for
Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note. 
 (a)      ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial
interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities Act”),
(iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b)      ̈ Check if Exchange is from beneficial interest in a
Restricted Global Note to Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive
Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States. 

  
 C-1 









(c)     ̈ Check if Exchange is from Restricted
Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(d)     ̈ Check if Exchange is from Restricted Definitive Note to
Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States. 
 2.     Exchange of
Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes. 
 (a)     ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection
with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the
Owner’s own account without transfer, Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 

(b)     ̈ Check if Exchange is from Restricted Definitive Note to
beneficial interest in a Restricted Global Note, In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE]  ̈144A Global Note,  ̈Regulation S Global Note,  ̈IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for
the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States, Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions
on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

  
 C-2 








 
			
	  
 [Insert Name of
Transferor]

		
	By:	 	  

		 	Name:
		 	Title:


 Dated:
                     

  
 C-3 








 EXHIBIT D 
 FORM OF CERTIFICATE FROM 
 ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR 

Aircastle Limited 
 300 First Stamford Place,
5th Floor 
 Stamford, CT 06902 
 Wells
Fargo Bank, National Association 
 625 Marquette Avenue, 11th Floor 
 MAC-N9311-115 
 Minneapolis, MN 55479 

 

					
		  	 Re:   [6.75% Senior Notes due 2017/7.625% Senior Notes due
2020]
 (the “Notes”)


 Reference is hereby made to the Indenture, dated as of April 4, 2012 (the
“Indenture”), among Aircastle Limited, a company incorporated under the laws of Bermuda (the “Company”) and Wells Fargo Bank, National Association, as trustee. Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture. 
 In connection with our proposed purchase of
$            aggregate principal amount of: 

(a)     ̈    a beneficial interest in a Global
Note, or 
 (b)     ̈    a Definitive
Note, 
 we confirm that: 
 1.     We understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions and conditions set forth in the Indenture and the undersigned
agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended (the “Securities Act”).

 2.     We understand that the offer and sale of the Notes have not been registered under the Securities
Act, and that the Notes and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should
sell the Notes or any interest therein, we will do so only (A) to the Company or any subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein),
(C) to an institutional “accredited investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a signed letter substantially in the form of
this letter and an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such transfer is in compliance with the Securities Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the
Securities Act, (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant to an effective registration statement under the Securities Act, and we further agree to provide to any Person purchasing the Definitive
Note or beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser that resales thereof are restricted as stated herein. 

  
 D-1 








 3.    We understand that, on any proposed resale of the Notes or
beneficial interest therein, we will be required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing
restrictions. We further understand that the Notes purchased by us will bear a legend to the foregoing effect. 
 4.
    We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

5.     We are acquiring the Notes or beneficial interest therein purchased by us for our own account or for one or
more accounts (each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. 
  

			
	  

	[Insert Name of Transferor]
		
	By:    	 	  

		 	Name:
		 	Title:


 Dated:
                         

  
 D-2 








 EXHIBIT E 
 INCUMBENCY CERTIFICATE 
 The
undersigned,         , being the         of             (the “Company”), does hereby certify that
the individuals listed below are qualified and acting officers of the Company as set forth in the right column opposite their respective names and the signatures appearing in the extreme right column opposite the name of each such officer is a true
specimen of the genuine signature of such officer and such individuals have the authority to execute documents to be delivered to, or upon the request of, WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee under the Indenture dated as of
        , 20    , by and between the Company and WELLS FARGO BANK, NATIONAL ASSOCIATION. 
  

											
	 Name
	 		  	 Title
	 		  	 Signature
	  	

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate as of
the         day         of     , 20    . 

 

			
	By:	 	  

		 	Name:
		 	Title:



  
 3