EXHIBIT 4.4 


 


ICAHN ENTERPRISES L.P.


 


ICAHN ENTERPRISES FINANCE CORP.


 


Issuers


 


and


 


WILMINGTON TRUST, NATIONAL ASSOCIATION


 


Trustee


 


INDENTURE


 


Dated as of ________ ___, ______


 


Subordinated Debt Securities


 


CROSS-REFERENCE TABLE*


 


	TRUST INDENTURE	 	INDENTURE
	ACT SECTION	 	SECTION
	 	 	 	 	 	 
	310  	(a)  	(1)  	 	 	7.10
	 	(a)	(2)	 	 	7.10
	 	(a)	(3)	 	 	N.A.
	 	(a)	(4)	 	 	N.A.
	 	(a)	(5)	 	 	7.10
	 	(b)	 	 	 	7.08; 7.10
	 	(c)	 	 	 	N.A.
	311	(a)	 	 	 	7.11
	 	(b)	 	 	 	7.11
	 	(c)	 	 	 	N.A.
	312	(a)	 	 	 	2.06
	 	(b)	 	 	 	12.03
	 	(c)	 	 	 	12.03
	313	(a)	 	 	 	7.06
	 	(b)	(1)	 	 	7.06
	 	(b)	(2)	 	 	7.06; 7.07
	 	(c)	 	 	 	7.06; 12.02
	 	(d)	 	 	 	7.06
	314	(a)	 	 	 	4.02; 4.03; 12.02
	 	(b)	 	 	 	N.A.
	 	(c)	(1)	 	 	12.04
	 	(c)	(2)	 	 	12.04
	 	(c)	(3)	 	 	N.A.
	 	(d)	 	 	 	N.A.
	 	(e)	 	 	 	12.05
	 	(f)	 	 	 	N.A.
	315	(a)	 	 	 	7.01
	 	(b)	 	 	 	7.05; 12.02
	 	(c)	 	 	 	7.01
	 	(d)	 	 	 	7.01



 






     


     


    

 


	 	(e)	 	 	 	6.11
	316	(a)	(last sentence)	 	2.09
	 	(a)	(1)	(A)	 	6.05
	 	(a)	(1)	(B)	 	6.04
	 	(a)	(2)	 	 	N.A.
	 	(b)	 	 	 	6.07
	 	(c)	 	 	 	9.04
	317	(a)	(1)	 	 	6.08
	 	(a)	(2)	 	 	6.09
	 	(b)	 	 	 	2.05
	318	(a)	 	 	 	12.01
	 	(b)	 	 	 	N.A.
	 	(c)	 	 	 	12.01


 


N.A. means not applicable.


 


* This Cross-Reference Table is not part of
the Indenture.


 




     


     


    

 


TABLE OF CONTENTS


 


	 	 	Page
	 	 	 
	ARTICLE 1	DEFINITIONS AND INCORPORATION BY REFERENCE	01
	 	 	 
	SECTION 1.01.	Definitions.	01
	SECTION 1.02.	Other Definitions.	04
	SECTION 1.03.	Incorporation by Reference of Trust Indenture Act.	04
	SECTION 1.04.	Rules of Construction.	05
	 	 	 
	ARTICLE 2	THE SECURITIES	05
	 	 	 
	SECTION 2.01.	Issuable in Series	05
	SECTION 2.02.	Establishment of Terms of Series of Securities	05
	SECTION 2.03.	Execution and Authentication	07
	SECTION 2.04.	Registrar and Paying Agent	08
	SECTION 2.05.	Paying Agent to Hold Money in Trust	09
	SECTION 2.06.	Holders Lists	09
	SECTION 2.07.	Transfer and Exchange	09
	SECTION 2.08.	Mutilated, Destroyed, Lost and Stolen Securities	09
	SECTION 2.09.	Outstanding Securities	10
	SECTION 2.10.	Treasury Securities	10
	SECTION 2.11.	Temporary Securities	10
	SECTION 2.12.	Cancellation	10
	SECTION 2.13.	Defaulted Interest	10
	SECTION 2.14.	Global Securities.	11
	SECTION 2.15.	CUSIP Numbers	12
	 	 	 
	ARTICLE 3	REDEMPTION AND PREPAYMENT	12
	 	 	 
	SECTION 3.01.	Notices to Trustee	12
	SECTION 3.02.	Selection of Securities to be Redeemed	13



 






     


     


    

 


	SECTION 3.03.	Notice of Redemption	
        13

	SECTION 3.04.	Effect of Notice of Redemption	14
	SECTION 3.05.	Deposit of Redemption Price	14
	SECTION 3.06.	Securities Redeemed in Part	14
	 	 	 
	ARTICLE 4	COVENANTS	14
	 	 	 
	SECTION 4.01.	Payment of Securities	14
	SECTION 4.02.	Reports	14
	SECTION 4.03.	Compliance Certificate.	15
	SECTION 4.04.	Corporate Existence	16
	SECTION 4.05.	Calculation of Original Issue Discount	16
	 	 	 
	ARTICLE 5	SUCCESSORS	16
	 	 	 
	SECTION 5.01.	Merger, Consolidation or Sale of Assets	16
	 	 	 
	ARTICLE 6	DEFAULTS AND REMEDIES	17
	 	 	 
	SECTION 6.01.	Events of Default	17
	SECTION 6.02.	Acceleration	18
	SECTION 6.03.	Other Remedies	18
	SECTION 6.04.	Waiver of Past Defaults	18
	SECTION 6.05.	Control By Majority	18
	SECTION 6.06.	Limitation on Suits	18
	SECTION 6.07.	Rights of Holders to Receive Payment	19
	SECTION 6.08.	Collection Suit by Trustee	19
	SECTION 6.09.	Trustee May File Proofs of Claim	19
	SECTION 6.10.	Priorities	19
	SECTION 6.11.	Undertaking For Costs	20
	 	 	 
	ARTICLE 7	TRUSTEE	20
	 	 	 
	SECTION 7.01.	Duties of Trustee.	20



 






     


     


    

 


	SECTION 7.02.	Rights of Trustee.	21
	SECTION 7.03.	Individual Rights of Trustee	22
	SECTION 7.04.	Trustee's Disclaimer	22
	SECTION 7.05.	Notice of Defaults	22
	SECTION 7.06.	Reports By Trustee to Holders	23
	SECTION 7.07.	Compensation and Indemnity	23
	SECTION 7.08.	Replacement of Trustee	23
	SECTION 7.09.	Successor Trustee by Merger, Etc.	24
	SECTION 7.10.	Eligibility; Disqualification	24
	SECTION 7.11.	Preferential Collection of Claims Against the Company	24
	 	 	 
	ARTICLE 8	DISCHARGE; LEGAL DEFEASANCE AND COVENANT DEFEASANCE	25
	 	 	 
	SECTION 8.01.	Discharge; Option to Effect Legal Defeasance or Covenant Defeasance.	25
	SECTION 8.02.	Legal Defeasance and Discharge	25
	SECTION 8.03.	Covenant Defeasance	25
	SECTION 8.04.	Conditions to Legal or Covenant Defeasance	26
	SECTION 8.05.	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	27
	SECTION 8.06.	Repayment to the Company	27
	SECTION 8.07.	Reinstatement	27
	 	 	 
	ARTICLE 9	AMENDMENT, SUPPLEMENT AND WAIVER	28
	 	 	 
	SECTION 9.01.	Without Consent of Holders	28
	SECTION 9.02.	With Consent of Holders of Securities	29
	SECTION 9.03.	Compliance with Trust Indenture Act	30
	SECTION 9.04.	Revocation and Effect of Consents and Waivers	30
	SECTION 9.05.	Notation on or Exchange of Securities	30
	SECTION 9.06.	Trustee to Sign Amendments, Etc.	30
	 	 	 
	ARTICLE 10	SUBORDINATION	30 
	 	 	 
	SECTION 10.01.	Securities Subordinated to Senior Indebtedness	30



 






     


     


    

 


	SECTION 10.02.	Effectuation of Subordination by Trustee	33
	SECTION 10.03.	Knowledge of Trustee	33
	SECTION 10.04.	Trustee’s Relation to Senior Indebtedness	33
	SECTION 10.05.	Rights of Holders of Senior Indebtedness Not Impaired	34
	 	 	 
	ARTICLE 11	NOTE GUARANTEES	34
	 	 	 
	SECTION 11.01.	Guarantee.	34
	SECTION 11.02.	Limitation on Guarantor Liability.	35
	SECTION 11.03.	Execution and Delivery of Guarantee.	35
	 	 	 
	ARTICLE 12	MISCELLANEOUS	35
	 	 	 
	SECTION 12.01.	Trust Indenture Act Controls	35
	SECTION 12.02.	Notices	35
	SECTION 12.03.	Communication by Holders of Securities with Other Holders of Securities	36
	SECTION 12.04.	Certificate and Opinion as to Conditions Precedent	36
	SECTION 12.05.	Statements Required in Certificate or Opinion	36
	SECTION 12.06.	Rules by Trustee, Paying Agent and Registrar	37
	SECTION 12.07.	No Personal Liability of Directors, Officers, Employees and Stockholders	37
	SECTION 12.08.	GOVERNING LAW	37
	SECTION 12.09.	No Adverse Interpretation of Other Agreements	37
	SECTION 12.10.	Successors	37
	SECTION 12.11.	Severability	37
	SECTION 12.12.	Counterpart Originals	37
	SECTION 12.13.	Table of Contents, Headings, Etc.	37


 


INDENTURE dated as of [__],
[__] between Icahn Enterprises L.P., a Delaware limited partnership ("Icahn Enterprises") Icahn Enterprises Finance
Corp., a Delaware corporation ("Icahn Enterprises Finance" and together with Icahn Enterprises, the "Company"),
and Wilmington Trust, National Association, a national banking association, as trustee (the "Trustee").


 


The Company and the Trustee
agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Securities issued under
this Indenture (the "Securities"):


 




     


     


    

 


ARTICLE 1


 


DEFINITIONS AND INCORPORATION BY REFERENCE


 


SECTION 1.01.                   
Definitions.


 


"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.


 


"Agent"
means any Registrar, Paying Agent or co-registrar.


 


"Bankruptcy Law"
means Title 11 of the United States Code, as amended, or any similar federal, state or foreign law for the relief of debtors.


 


"Board of Directors"
means, with respect to any Person, the board of directors or comparable governing body of such Person.


 


"Board Resolution"
means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been adopted by the Board
of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate
and delivered to the Trustee.


 


"Business Day"
means any day other than a Legal Holiday.


 


"Capital Stock"
of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of
or interests in (however designated) equity of such Person, including any preferred stock, but excluding any debt securities convertible
into such equity.


 


"Clearstream"
means Clearstream Banking, Societe Anonyme, Luxembourg.


 


"Commission"
or "SEC" means the Securities and Exchange Commission.


 


"Company"
means, collectively Icahn Enterprises and Icahn Enterprises Finance, and any and all successors thereto.


 


"Company Order"
means a written order signed in the name of the Company by two Officers, one of whom must be the Company's principal executive
officer, principal financial officer or principal accounting officer.


 


"Control"
means the possession, directly or indirectly, of the power to direct or cause the direction of management and policies of a Person,
whether through the ownership of Voting Stock, by agreement or otherwise.


 


"Corporate Trust
Office of the Trustee" shall be at the address of the Trustee specified in Section 12.02 or such other address as to which
the Trustee may give notice to the Company.


 


"Custodian"
means the Trustee, as custodian with respect to the Securities 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.


 


"Definitive Security"
means a certificated Security registered in the name of the Holder thereof and issued in accordance with Section 2.07.


 






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"Depositary"
means, with respect to the Securities issuable or issued in whole or in part in global form, the Person specified in Section 2.14
as the Depositary with respect to the Securities, and any and all successors thereto appointed as depositary hereunder and having
become such pursuant to the applicable provision of this Indenture.


 


"Dollar"
means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall be legal tender
for the payment of public and private debt.


 


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


 


"Exchange Act"
means the Securities Exchange Act of 1934, as amended.


 


"Foreign Currency"
means any currency or currency unit issued by a government other than the government of The United States of America.


 


"GAAP"
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
Board, the Commission or in such other statements by such other entity as may be approved by a significant segment of the accounting
profession of the United States, which are in effect from time to time; provided, however, that all reports and other financial
information provided by the Company to the Holders of the Securities, the Trustee and/or the Commission shall be prepared in accordance
with GAAP, as in effect on the date of such report or other financial information.


 


"Global Security"
when used with respect to any Series of Securities issued hereunder, means a Security which is executed by the Company and authenticated
and delivered by the Trustee to the Depositary or pursuant to the Depositary's instruction, all in accordance with this Indenture
and an indenture supplemental hereto, if any, or Board Resolution and pursuant to a Company Order, which shall be registered in
the name of the Depositary or its nominee and which shall represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all the outstanding Securities of such Series or any portion thereof, in either case having the same terms,
including, without limitation, the same original issue date, date or dates on which principal and interest are due, and interest
rate or method of determining interest and which shall bear the legend as prescribed by Section 2.14(c).


 


"Global Security
Legend" means the legend set forth in Section 2.14(c), which is required to be placed on all Global Securities issued
under this Indenture.


 


"Government Securities"
means direct obligations of, or obligations guaranteed by, the United States of America for the payment of which guarantee or obligations
the full faith and credit of the United States is pledged.


 


"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, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof), of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements,
or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement
conditions or otherwise).


 


"Guarantor"
means Icahn Enterprises in the event that Icahn Enterprises executes a Guarantee in accordance with the provisions of this Indenture,
and its successors and assigns, in each case, until the Guarantee has been released in accordance with the provisions of this Indenture.


 


"Holder"
means a Person in whose name a Security is registered on the Registrar's books.


 


"Icahn Enterprises"
means Icahn Enterprises L.P. (and not any of its subsidiaries).


 


"Icahn Enterprises
Finance" means Icahn Enterprises Finance Corp.


 


"Indebtedness"
has the meaning specified in the applicable Board Resolution, supplemental indenture or Officers' Certificate relating to a particular
Series of Securities.


 






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"Indenture"
means this Indenture, as amended or supplemented from time to time.


 


"Interest Payment
Date" when used with respect to any Series of Securities, means the date specified in such Securities for the payment
of any installment of interest on those Securities.


 


"Legal Holiday"
means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of payment are authorized
by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday at a place of payment, payment may
be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for
the intervening period.


 


"Maturity"
when used with respect to any Security or installment of principal thereof, means the date on which the principal of such Security
or such installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration
of acceleration, call for redemption, notice of option to elect repayment or otherwise.


 


"Offering"
means the offering of the Securities by the Company.


 


"Officer"
means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer,
the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such
Person.


 


"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 or the principal accounting officer of the Company, delivered to the Trustee that meets
the requirements set forth in this Indenture, including without limitation the requirements of Section 12.05.


 


"Opinion of Counsel"
means a written opinion from legal counsel who is reasonably acceptable to the Trustee, that meets the requirements of Section
12.05. The counsel may be an employee of or counsel to the Company, any Subsidiary of the Company, any Guarantor, or, at the Trustee’s
option, the Trustee.


 


"Original Issue
Discount Security" means any Security that provides for an amount less than the stated principal amount thereof to be
due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.02.


 


"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 the Depositary Trust Company, shall include Euroclear and Clearstream).


 


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


 


"Responsible Officer,"
when used with respect to the Trustee, means any officer within the Corporate Trust Office of the Trustee (or any successor group
of the Trustee) 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.


 


"Securities"
has the meaning assigned to it in the preamble to this Indenture.


 


"Securities Act"
means the Securities Act of 1933, as amended.


 


"Series"
or "Series of Securities" means each series of debentures, notes or other debt instruments of the Company created
pursuant to Sections 2.01 and 2.02.


 


"Significant Subsidiary"
means any Subsidiary which would be a "significant subsidiary" as defined in Article 1, Rule 1-02 of Regulation S-X,
promulgated pursuant to the Securities Act of 1933, as amended.


 






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"Stated Maturity"
when used with respect to any Security, means the date specified in such Security as the fixed date on which an amount equal to
the principal amount of such Security is due and payable.


 


"Subsidiary"
means, with respect to any specified Person:


 


(1)         any
corporation, association or other business entity of which more than 50% of the total Voting Stock is at the time owned or Controlled,
directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and


 


(2)         any
partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person
or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).


 


"TIA"
means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the date on which this Indenture is qualified
under the TIA.


 


"Trustee"
means the party named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture
and thereafter means the successor serving hereunder.


 


"Voting Stock"
means, with respect to any Person that is (a) a corporation, any class or series of capital stock of such Person that is ordinarily
entitled to vote in the election of directors thereof at a meeting of stockholders called for such purpose, without the occurrence
of any additional event or contingency, (b) a limited liability company, membership interests entitled to manage, or to elect or
appoint the Persons that will manage the operations or business of the limited liability company, or (c) a partnership, partnership
interests entitled to elect or replace the general partner thereof.


 


"Wholly Owned Subsidiary"
of a Person means a subsidiary of such person all 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 or by such Person and one or more Wholly Owned Subsidiaries of such Person.


 


SECTION 1.02.         Other
Definitions.


 


	Term	 	Defined in 
 Section
	 
	"Covenant Defeasance"	 	 	8.03	 
	"Event of Default"	 	 	6.01	 
	"Legal Defeasance"	 	 	8.02	 
	"notice of acceleration"	 	 	6.02	 
	"Paying Agent"	 	 	2.04	 
	"Registrar"	 	 	2.04	 
	"Service Agent"	 	 	2.04	 
	"Transfer"	 	 	5.01	 



 


SECTION 1.03.         Incorporation
by Reference of Trust Indenture Act.


 


Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.


 


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


 


"Indenture Securities"
means the Securities;


 


"Indenture Security Holder"
means a Holder of a Security


 






    	 	4	 



     


    

 


"Indenture to be Qualified"
means this Indenture;


 


"Indenture Trustee"
or "Institutional Trustee" means the Trustee; and


 


"Obligor"
on the Securities means the Company and any successor obligor upon the Securities.


 


All other terms used in
this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA have
the meanings so assigned to them.


 


SECTION 1.04.         Rules
of Construction.


 


Unless the context otherwise
requires:


 


(a)         a
term has the meaning assigned to it;


 


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


 


(c)         words
in the singular include the plural, and in the plural include the singular;


 


  


(d)         provisions
apply to successive events and transactions; and


 


(e)         references
to sections of or rules under the Securities Act, the Exchange Act or the TIA shall be deemed to include substitute, replacement
of successor sections or rules adopted by the Commission from time to time.


 


ARTICLE 2


 


THE SECURITIES


 


SECTION 2.01.         Issuable
in Series. The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited.
The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth in
a Board Resolution, a supplemental indenture or an Officers' Certificate detailing the adoption of the terms thereof pursuant to
the authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board
Resolution, Officers' Certificate or supplemental indenture may provide for the method by which specified terms (such as interest
rate, maturity date, record date or date from which interest shall accrue) are to be determined. Securities may differ between
Series in respect of any matters.


 


SECTION 2.02.         Establishment
of Terms of Series of Securities. At or prior to the issuance of any Securities within a Series, the following shall be established
(as to the Series generally, in the case of Subsection 2.02(a) and either as to such Securities within the Series or as to the
Series generally in the case of Subsections 2.02(b) through 2.02(x)) by a Board Resolution, a supplemental indenture or an Officers'
Certificate pursuant to authority granted under a Board Resolution:


 


(a)         the
title of the Securities of the Series (which shall distinguish the Securities of that particular Series from the Securities of
any other Series);


 


(b)         any
limit upon the aggregate principal amount of the Securities of the Series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of the Series);


 






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(c)         the
date or dates on which the principal and premium, if any, of the Securities of the Series are payable;


 


(d)         the
rate or rates (which may be fixed or variable) at which the Securities of the Series shall bear interest, if any, or the method
of determining such rate or rates, the date or dates from which such interest, if any, shall accrue, the Interest Payment Dates
on which such interest, if any, shall be payable or the method by which the Interest Payment Dates will be determined, the record
dates for the determination of Holders thereof to whom interest is payable (in the case of Securities in registered form), and
the basis upon which such interest will be calculated if other than that of a 360-day year of twelve 30-day months;


  


(e)         the
currency or currencies, including composite currencies, in which Securities of the Series shall be denominated, if other than Dollars,
the place or places, if any, in addition to or instead of the Corporate Trust Office of the Trustee (in the case of Securities
in registered form), where the principal, premium, if any, and interest with respect to Securities of such Series shall be payable
or the method of such payment, if by wire transfer, mail or other means;


 


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


 


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


 


(j)         the
terms, if any, upon which the Securities of the Series may be convertible into or exchanged for any of the Company's common stock,
preferred stock, other securities or warrants to purchase the Company's common stock, preferred stock or other securities and the
terms and conditions upon which such conversion or exchange shall be effected, including the initial conversion or exchange price
or rate, the conversion or exchange period and any other additional provisions;


 


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


 


 


(l)         if
the amount of principal, premium, if any, or interest with respect to the Securities of the Series may be determined with reference
to an index or pursuant to a formula, the manner in which such amounts will be determined;


 


(m)         if
the principal amount payable at the Stated Maturity of Securities of the Series will not be determinable as of any one or more
dates prior to such Stated Maturity, the amount that will be deemed to be such principal amount as of any such date for any purpose,
including the principal amount thereof which will be due and payable upon any Maturity other than the Stated Maturity and which
will be deemed to be outstanding as of any such date (or, in any such case, the manner in which such deemed principal amount is
to be determined), and, if necessary, the manner of determining the equivalent thereof in Dollars;


 


(n)         the
applicability of, if any, and any changes or additions to Article 8;


 


(o)         if
other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.02;


 


(p)         the
terms, if any, of the transfer, mortgage, pledge or assignment as security for the Securities of the Series of any properties,
assets, moneys, proceeds, securities or other collateral, including whether certain provisions of the TIA are applicable and any
corresponding changes to provisions of this Indenture as then in effect;


 






    	 	6	 



     


    

 


(q)         any
addition to or change in the Events of Default which applies to any Securities of the Series and any change in the right of the
Trustee or the requisite Holders of such Series of Securities to declare the principal, premium, if any, and interest on such Series
of Securities due and payable pursuant to Section 6.02;


 


 (r)         if
the Securities of the Series shall be issued in whole or in part in the form of a Global Security, the terms and conditions, if
any, upon which such Global Security may be exchanged in whole or in part for other individual Definitive Securities of such Series,
the Depositary for such Global Security and the form of any legend or legends to be borne by any such Global Security in addition
to or in lieu of the Global Securities Legend;


 


(s)         any
Trustee, authenticating agent, Paying Agent, transfer agent, Service Agent or Registrar;


 


(t)         the
applicability of, and any addition to or change in, the covenants (and the related definitions) set forth in Articles 4 or 5 which
applies to the Securities of the Series;


 


(u)any additional or
different subordination terms, if any, applicable to the Securities of the Series;


 


(v)         with
regard to Securities of the Series that do not bear interest, the dates for certain required reports to the Trustee;


 


(w)         any
United Stated Federal income tax consequences applicable to the Securities;


 


(x)         the
terms applicable to Original Issue Discount Securities, including the rate or rates at which original issue discount will accrue;
and


  


(y)         any
other terms of Securities of the Series (which terms shall not be inconsistent with the provisions of this Indenture, except as
permitted by Section 9.01, but which may modify or delete any provision of this Indenture insofar as it applies to such Series).


 


All Securities of any one
Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if
so provided by or pursuant to the Board Resolution, supplemental indenture or Officers' Certificate referred to above, and the
authorized principal amount of any Series may not be increased to provide for issuances of additional Securities of such Series,
unless otherwise provided in such Board Resolution, supplemental indenture or Officers' Certificate.


 


SECTION 2.03.         Execution
and Authentication. One Officer shall sign the Securities for the Company by manual or facsimile signature. If an Officer whose
signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless
be valid. A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.
The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.


 


The Trustee shall at any
time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution,
supplemental indenture or Officers' Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the
date of its authentication..


 


The aggregate principal
amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such
Series set forth in the Board Resolution, supplemental indenture or Officers' Certificate delivered pursuant to Section 2.02, except
as provided in Section 2.08.


 


Prior to the issuance of
Securities of any Series, the Trustee shall have received and (subject to Section 7.02) shall be fully protected in relying on:


 


(a)         the
Board Resolution, supplemental indenture or Officers' Certificate establishing the form of the Securities of that Series or of
Securities within that Series and the terms of the Securities of that Series or Securities within that Series; (b) an Officers'
Certificate complying with Section 12.05; and (c) an Opinion of Counsel complying with Section 12.05.


 






    	 	7	 



     


    

 


The Trustee shall have
the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines
that such action may not lawfully be taken; or (b) if the Trustee in good faith by its board of directors or trustees, executive
committee or a trust committee of directors and/or vice-presidents shall determine that such action would expose the Trustee to
personal liability to Holders of any then outstanding Series of Securities.


  


The Trustee may appoint
an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such
agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate.


 


Any Global Securities (i)
shall be registered in the name of the Depositary or the nominee of the Depositary and (ii) shall be delivered by the Trustee to
the Depositary or pursuant to the Depositary’s instructions or held by the Trustee as Custodian. Participants shall have
no rights either under this Indenture with respect to any Global Security held on their behalf by the Depositary or by the Custodian
or under such Global Security, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or Trustee
as the owner of such Global Security for all purposes. Notwithstanding the foregoing, nothing herein shall prevent the Company,
the Trustee or any Agent or other agent of the Company or the Trustee from giving effect to any written certificate, proxy or other
authorization furnished by the Depositary or impair, as between the Depositary and its Participants, the operation of customary
practices of such Depositary governing the exercise of the rights of an owner of a beneficial interest in any Global Security.


 


The Trustee shall have
no responsibility or obligation to any Holder, any member or Participant of the Depositary or any other Person with respect to
the accuracy of the records of the Depositary (or its nominee) or of any Participant or member thereof, with respect to any ownership
interest in the Securities or with respect to the delivery of any notice (including without limitation any notice of redemption)
or the payment of any amount or delivery of any Securities (or other security or property) under which or with respect to the Securities.
The Trustee may rely (and shall be fully protected in relying) upon information furnished by the Depositary with respect to its
members and Participants.


 


SECTION 2.04.         Registrar
and Paying Agent. The Company shall maintain, with respect to each Series of Securities, at the place or places specified with
respect to such Series pursuant to Section 2.02, an office or agency where Securities of such Series may be presented or surrendered
for payment ("Paying Agent") and where Securities of such Series may be presented for registration of transfer
or for exchange ("Registrar"). The Registrar shall keep a register with respect to each Series of Securities and
to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change
in the name and address, of each Registrar or Paying Agent. If at any time the Company shall fail to maintain any such required
Registrar or Paying Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations or surrenders
may be made at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all
such presentations and surrenders. In no case will any service of legal process be made against the Company at the office of the
Trustee.


 


The Company may also from
time to time designate one or more co-registrars or additional paying agents and may from time to time rescind such designations;
provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain
a Registrar or Paying Agent in each place so specified pursuant to Section 2.02 for Securities of any Series for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name
or address of any such co-registrar or additional paying agent. The term "Registrar" includes any co-registrar, and the
term "Paying Agent" includes any additional paying agent.


 


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


 






    	 	8	 



     


    

 


SECTION 2.05.         Paying
Agent to Hold Money in Trust. The Company shall require each Paying Agent, other than the Trustee, to agree in writing that
the Paying Agent will hold in trust, for the benefit of Holders of any Series of Securities, or the Trustee, all money held by
the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee of any default
by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all
money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee.
Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability
for the money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the
benefit of the Holders of any Series of Securities all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Securities.


  


SECTION 2.06.         Holders
Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of
the names and addresses of all Holders of each Series of Securities and shall otherwise comply with TIA Section 312(a). If the
Trustee is not the Registrar, the Company shall 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 each Series of Securities and the Company shall otherwise comply
with TIA Section 312(a).


 


SECTION 2.07.         Transfer
and Exchange. When Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer
or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or
make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee
shall authenticate Securities at the Registrar's request. No service charge shall be made for any registration of transfer or exchange
(except as otherwise expressly permitted herein), 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 2.11, 3.06, or 9.05).


 


Neither the Company nor
the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning
at the opening of business fifteen days immediately preceding the delivery of a notice of redemption of Securities of that Series
selected for redemption and ending at the close of business on the day of such delivery or (b) to register the transfer or exchange
of any Security of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such
Securities selected, called or being called for redemption in part.


 


SECTION 2.08.         Mutilated,
Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered to the Trustee, the Company shall execute and
the Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and of like tenor and principal
amount and bearing a number not contemporaneously outstanding. If there shall be delivered to the Company and the Trustee (i) evidence
to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required
by them in their judgment to save each of them and any agent of either of them harmless, then, in the absence of notice to the
Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request
the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security
of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.


 


In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead
of issuing a new Security, pay such Security.


 


Upon the issuance of any
new Security 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 Security of any
Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities
of the Series duly issued hereunder.


 






    	 	9	 



     


    

 


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 Securities.


 


SECTION 2.09.         Outstanding
Securities. The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled
by it, those delivered to it for cancellation, those reductions in the interest in a Global Security effected by the Trustee in
accordance with the provisions hereof, and those described in this Section 2.09 as not outstanding. Except as set forth in Section
2.10 hereof, a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security;
however, Securities held by the Company or a Subsidiary of the Company shall not be deemed to be outstanding for purposes of Section
9.02 hereof.


 


If a Security is replaced
pursuant to Section 2.08, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security
is held by a bona fide purchaser.


 


If the Paying Agent (other
than the Company, a Subsidiary or an Affiliate of any thereof) holds, on the Maturity of Securities of a Series money sufficient
to pay such Securities of the Series payable on that date, then on and after that date such Securities of the Series shall be deemed
to be no longer outstanding and shall cease to accrue interest.


 


In determining whether
the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, the principal amount of an Original Issue Discount Security that shall be deemed to be outstanding
for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination
upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02.


 


SECTION 2.10.         Treasury
Securities. In determining whether the Holders of the required principal amount of Securities of a Series have concurred in
any request, demand, authorization, notice, direction, waiver or consent, Securities of a Series owned by the Company or an Affiliate
shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such
request, demand, authorization, notice, direction, waiver or consent, only Securities of a Series that the Trustee knows are so
owned shall be disregarded.


  


SECTION 2.11.         Temporary
Securities. Until Definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate
temporary Securities upon a Company Order. Temporary Securities shall be substantially in the form of Definitive Securities but
may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall
prepare and the Trustee shall authenticate Definitive Securities of the same Series and date of maturity in exchange for temporary
Securities. Until so exchanged, temporary Securities shall be entitled to the same rights under this Indenture as the Definitive
Securities.


 


SECTION 2.12.         Cancellation.
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and Paying Agent shall forward to
the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee will dispose of canceled
Securities in accordance with its customary practice (subject to the record retention requirement of the Exchange Act). Evidence
of cancellation of all canceled Securities, or confirmation of the reduction in the aggregate principal amount outstanding represented
by a Global Security, as applicable, will be delivered to the Company upon written request. The Company may not issue new Securities
to replace Securities that it has paid or that have been delivered to the Trustee for cancellation.


 


SECTION 2.13.         Defaulted
Interest. If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest in
any lawful manner plus, to the extent lawful, any interest payable on the defaulted interest, to the Persons who are Holders of
the Series on a subsequent special record date. The Company will notify the Trustee in writing of the amount of defaulted interest
proposed to be paid on each Security and the date of the proposed payment. The
Company shall fix each such special record date and payment date. At least 15 days before the special record date, the Company
(or upon the written request of the Company, the Trustee, in the name and at the expense of the Company) shall mail or cause to
be mailed to Holders of the Series a notice that states the special record date, the related payment date and the amount of such
interest to be paid. The Company may pay defaulted interest in any other lawful manner.


 






    	 	10	 



     


    

 


SECTION 2.14.         Global
Securities.


 


(a)         Terms
of Securities. A Board Resolution, a supplemental indenture hereto or an Officers' Certificate shall establish whether the
Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for
such Global Security or Securities.


 


(b)         Transfer
and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.07 and in addition thereto, any Global
Security shall be exchangeable pursuant to Section 2.07 for Securities registered in the names of Holders other than the Depositary
for such Security or its nominee only if:


 


(i)         such
Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any
time such Depositary ceases to be a clearing agency registered under the Exchange Act, and in either case, the Company fails to
appoint a successor Depositary within 90 days of such event;


  


(ii)         the
Company executes and delivers to the Trustee an Officers' Certificate to the effect that such Global Security shall be so exchangeable;
or


 


(iii)         an
Event of Default with respect to the Securities represented by such Global Security shall have happened and be continuing. Any
Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such
names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security
with like tenor and terms.


 


Except as provided in this
Section 2.14(b), a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security
to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by
the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary.


 


(c)         Legend.
Any Global Security issued hereunder shall bear a legend in substantially the following form:


 


"THIS GLOBAL SECURITY
IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL SECURITY MAY
BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07 OF THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE DELIVERED TO
THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (III) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF ICAHN ENTERPRISES L.P."


 


(d)         Acts
of Holders.


 


(i)         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 an agent 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 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.


 






    	 	11	 



     


    

 


(ii)         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 such officer the execution thereof. Where such execution
is by a signer acting in a capacity other than such signer's individual capacity, such certificate or affidavit shall also constitute
sufficient proof of such signer's 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 which the Trustee deems sufficient.


  


(iii)         The
ownership of registered securities shall be proved by the register maintained by the Registrar.


 


(iv)         Any
request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every
future Holder of the same Security and the holder of every Security 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 or the Company in reliance
thereon, whether or not notation of such action is made upon such Security.


 


(v)         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 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 Securities
have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act,
and for that purpose the outstanding Securities shall be computed as of such record date; provided that no such authorization,
agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to
the provisions of this Indenture not later than six months after the record date.


 


(e)         Payments.
Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.02, payment of
the principal of and interest, if any, on any Global Security shall be made to the Holder thereof.


 


(f)         Consents,
Declaration and Directions. Except as provided in Section 2.14(e), the Company, the Trustee and any Agent shall treat a person
as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified
in a written statement of the Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations,
waivers or directions required to be given by the Holders pursuant to this Indenture.


 


SECTION 2.15.         CUSIP
Numbers. The Company in issuing the Securities may use "CUSIP" numbers (if then generally in use), and, if so, the
Trustee shall use "CUSIP" numbers in notices of redemption as a convenience to Holders; provided that any such notice
may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained
in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities,
and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the
Trustee of any change in CUSIP Numbers.


 


ARTICLE 3


 


REDEMPTION AND PREPAYMENT


 


SECTION 3.01.         Notices
to Trustee. The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities
or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time
and on such terms as provided for in such Series of Securities. If a Series of Securities is redeemable and the Company wants or
is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such
Securities, it shall notify the Trustee of the redemption date and the principal amount of Securities of the Series to be redeemed
and the redemption price. The Company shall give such notice to the Trustee at least 45 but no more than 60 days before the redemption
date (or such shorter notice as may be acceptable to the Trustee).


 






    	 	12	 



     


    

 


SECTION 3.02.         Selection
of Securities to be Redeemed. Unless otherwise indicated for a particular Series by a Board Resolution, supplemental indenture
or an Officers' Certificate, if less than all of the Securities are to be redeemed or purchased in an offer to purchase at any
time, the Securities to be redeemed or purchased will be selected as follows: (a) if the Securities are in the form of Global Securities,
in accordance with the procedures of the Depositary, and (b) if the Securities are listed on any national securities exchange,
in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed.
No Securities of $1,000 principal amount or less will be redeemed in part. Except as provided in the preceding sentence, provisions
of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption.


 


If any Security is to be
redeemed in part only, the notice of redemption that relates to such Security shall state the portion of the principal amount of
that Security to be redeemed. A new Security in principal amount equal to the unredeemed portion of the original Security presented
for redemption will be issued in the name of the Holder thereof upon cancellation of the original Security. Securities called for
redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue or accrete
on Securities or portions of them called for redemption.


 


SECTION 3.03.         Notice
of Redemption. Unless otherwise provided for a particular Series of Securities by a Board Resolution, a supplemental indenture
or an Officers' Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall send,
by first class mail, or electronically in accordance with the procedures of the Depositary, a notice of redemption to each Holder
whose Securities are to be redeemed at its registered address, except that a notice of redemption may be given more than 60 days
prior to a redemption date if the notice is used in connection with Article 8 hereof.


 


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


 


(a)         the
redemption date;


 


(b)         the
Redemption Price (as defined in the Indenture for the Series of Securities);


 


(c)         if
any Security is being redeemed in part, the portion of the principal amount of such Security to be redeemed and that, after the
redemption date upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion
shall be issued upon cancellation of the original Security;


 


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


 


(e)         that
Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price;


 


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


 


(g)         the
paragraph of the Securities and/or provision of this Indenture or any supplemental indenture or Board Resolution pursuant to which
the Securities called for redemption are being redeemed;


 


(h)         the
CUSIP number, if any, printed on the Securities being redeemed; and


 


(i)         that
no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the
Securities.


 






    	 	13	 



     


    

 


At the Company's written
request, the Trustee shall give the notice of redemption in the Company's name and at its expense; provided, however, that the
Company shall have delivered to the Trustee, at least 45 days prior to the redemption date (or such shorter period as shall be
acceptable to the Trustee), an Officers' Certificate requesting that the Trustee give such notice and setting forth the information
to be stated in such notice as provided in the preceding paragraph. If any of the Securities to be redeemed is in the form of a
Global Security, then the Company shall modify such notice to the extent necessary to conform with the procedures of the Depositary
applicable to such redemption.


 


SECTION 3.04.         Effect
of Notice of Redemption. Once notice of redemption is sent in accordance with Section 3.03, Securities called for redemption
become irrevocably due and payable on the redemption date at the redemption price, plus accrued and unpaid interest to such date.
A notice of redemption may not be conditional. Failure to give notice or any defect in the notice to the Holder of any Security
shall not affect the validity of the notice to any other Holder.


 


SECTION 3.05.         Deposit
of Redemption Price. On or before 12:00 p.m. (New York City time) on the redemption date, the Company shall deposit with the
Trustee or with the Paying Agent (or if the Company or any Subsidiary is the Paying Agent, shall segregate and hold in trust) money
sufficient to pay the redemption price, of and accrued interest on, all Securities to be redeemed on that date, other than Securities
or portions of Securities called for redemption that have been delivered to the Trustee for cancellation. The Trustee or the Paying
Agent shall as promptly as practicable 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 price of, and accrued interest on, all Securities to be redeemed. If such
money is then held by the Company or a Subsidiary in trust and is not required for such purpose, it shall be discharged from such
trust.


 


If the Company complies
with the provisions of the preceding paragraph, on and after the redemption, interest shall cease to accrue on the Securities called
for redemption. If a Security is redeemed on or after an interest record date but on or prior to the related Interest Payment Date,
then any accrued and unpaid interest shall be paid to the Person in whose name such Security was registered at the close of business
on such record date. If any Security called for redemption shall not be so paid upon surrender for redemption because of the failure
of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal from the redemption date
until such principal is paid, and to the extent lawful, on any interest not paid on such unpaid principal, in each case at the
rate provided in the Securities.


 


SECTION 3.06.         Securities
Redeemed in Part. Upon surrender of a Security that is redeemed in part, the Company shall execute and, upon the Company's
written request, the Trustee shall authenticate for the Holder at the expense of the Company a new Security equal in principal
amount to the unredeemed portion of the Security surrendered.


 


ARTICLE 4


 


COVENANTS


 


SECTION 4.01.         Payment
of Securities. The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly
and punctually make all payments in respect of each Series of Securities on the dates and in the manner provided in such Series
of Securities and this Indenture. Such payments shall be considered made on the date the Trustee or the Paying Agent, if other
than the Company or a Subsidiary thereof, holds, as of 10:00 a.m. New York City time, in accordance with this Indenture, funds
sufficient to make all payments with respect to such Securities then due and the Trustee or the Paying Agent, as the case may be,
is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture.


  


SECTION 4.02.         Reports.
Unless otherwise indicated in a Board Resolution, a supplemental indenture or an Officers' Certificate, whether or not required
by the rules and regulations of the Commission so long as any Securities are outstanding, the Company shall furnish to the Trustee
and the Holders of the Securities the following:


 


(a)         all
quarterly and annual financial information that would be required to be contained in a filing with the Commission on Forms 10-Q
and 10-K if the Company were required to file such Forms, including a "Management's Discussion and Analysis of Financial Condition
and Results of Operations" and, with respect to the annual information only, a report thereon by the Company's certified independent
accountants;


 






    	 	14	 



     


    

 


(b)         all
current reports that would be required to be filed with the Commission on Form 8-K if the Company were required to file such reports;
and


 


(c)         any
other information, reports and documents that the Company is required to file with the Commission pursuant to Section 13 or Section
15(d) of the Exchange Act.


 


in each case, within the time periods specified
in the Commission's rules and regulations; provided that such information and reports need not be furnished to the Holders if they
are generally available on the Internet free of charge.


 


In addition, whether or
not required by the rules and regulations of the Commission, the Company shall file a copy of all such information and reports
with the Commission for public availability within the time periods specified in the Commission's rules and regulations (unless
the Commission shall not accept such a filing) and make such information available to securities analysts and prospective investors
upon request.


 


Reports by the Company
delivered to the Trustee should be considered for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from information contained therein, including
the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officers’ Certificates). The Trustee shall have no duty to determine whether any reports have been posted or filed.


 


SECTION 4.03.         Compliance
Certificate.


 


(a)         The
Company and each Guarantor (to the extent that such Guarantor is so required under the TIA) shall deliver to the Trustee, within
90 days after the end of each fiscal year of the Company, an Officers' Certificate stating that a review of the activities of the
Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with
a view to determining whether each of the Company and any other obligors has kept, observed, performed and fulfilled 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
each entity has fulfilled all of its obligations under this Indenture throughout such year and is not in default in the performance
or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is
taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains
in existence by reason of which payments on account of the principal of, premium on, if any, or interest on, the Securities is
prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take
with respect thereto.


 


(b)         So
long as not contrary to the then current recommendations of the American Institute of Certified Public Accountants, the year-end
financial statements delivered pursuant to Section 4.02(a) above shall be accompanied by a written statement of the Company's independent
public accountants (who shall be a firm of established national reputation, reasonably satisfactory to the Trustee) that in making
the examination necessary for certification of such financial statements, nothing has come to their attention that would lead them
to believe that a Default or an Event of Default has occurred and is continuing or, if any such Default or Event of Default has
occurred and is continuing, specifying the nature and period of existence thereof, it being understood that such accountants shall
not be liable directly or indirectly to any Person for any failure to obtain knowledge of any such Default or Event of Default.
In the event that such written statement of the Company's independent public accountants cannot be obtained, the Company shall
deliver an Officers' Certificate certifying that it has used its best efforts to obtain such statements and was unable to do so.


 


(c)         The
Company shall, so long as any Securities are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware of
any Default or Event of Default that is then continuing, an Officers' Certificate specifying such Default or Event of Default and
what action the Company is taking or proposes to take with respect thereto.


 






    	 	15	 



     


    

 


SECTION 4.04.         Corporate
Existence. Subject to Article 5, the Company shall do or cause to be done all things necessary to preserve and keep in full
force and effect:


 


(a)         its
corporate, partnership or other existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance
with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary;
and


 


(b)         the
rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company
shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any
of its Subsidiaries, 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, taken as a whole, and that the loss thereof is not adverse in any material
respect to the Holders of the Securities.


 


SECTION 4.05.         Calculation
of Original Issue Discount. The Company shall file with the Trustee promptly at the end of each calendar year (i) a written
notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on outstanding Securities
as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be relevant
under the Internal Revenue Code of 1986, as amended from time to time.


 


ARTICLE 5


 


SUCCESSORS


 


SECTION 5.01.         Merger,
Consolidation or Sale of Assets. Unless otherwise provided for in a particular Series by a Board Resolution, a supplemental
indenture or an Officers' Certificate, the Company shall not consolidate with or merge into (whether or not the Company is the
surviving entity), or sell, assign, transfer, lease, convey or otherwise dispose of (collectively, "Transfer")
all or substantially all of its properties or assets to, another Person unless:


 


(a)         the
resulting, surviving or transferee Person (the "Successor Company") shall be a corporation, limited liability
company or limited partnership organized or existing under the laws of the United States, any state thereof or the District of
Columbia;


 


(b)         
the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which such Transfer
has been made assumes all the obligations of the Company under the Securities and this Indenture pursuant to a supplemental indenture
or amendment, in a form reasonably satisfactory to the Trustee;


 


(c)         
immediately after such transaction, no Default exists; and


 


(d)         the
Company shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that such consolidation,
merger or Transfer complies with this Indenture.


 


The Successor Company shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture (as modified by
a Board Resolution, supplemental indenture or Officers' Certificate), and the predecessor Company, except in the case of a lease
of all or substantially all of its assets, shall be released from the obligation to pay the principal of and interest on the Securities.
The foregoing will not prohibit a consolidation or merger between the Company and a Wholly Owned Subsidiary, the transfer of all
or substantially all of the properties or assets of the Company to a Wholly Owned Subsidiary or the transfer of all or substantially
all of the properties or assets of a Wholly Owned Subsidiary to the Company; provided, that if the Company is not the surviving
entity of such transaction or the Person to which such transfer is made, the surviving entity or the Person to which such transfer
is made shall comply with clause (b) of this paragraph.


 






    	 	16	 



     


    

 


ARTICLE 6


 


DEFAULTS AND REMEDIES


 


SECTION 6.01.         Events
of Default. Unless otherwise indicated for a particular Series of Securities by a Board Resolution, a supplemental indenture
or an Officers' Certificate, each of the following constitutes an "Event of Default" with respect to each Series of Securities:


 


(a)         default
for 30 days in the payment of interest when due with respect to the Securities;


 


(b)         default
in payment when due of principal or premium, if any, on the Securities at maturity, upon redemption or otherwise;


 


(c)         
failure by the Company for 30 days after receipt of notice (as specified below) to comply with the provisions described under Section
2.04, 4.02, 4.03 or 5.01;


 


(d)         
failure by the Company for 60 days after notice (as specified below) to comply with its other agreements in this Indenture or the
Securities;


 


(e)         
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 in which it is the debtor;


 


(iii)         consents
to the appointment of a custodian of it or for all or substantially all of its property; or


 


(iv)         makes
a general assignment for the benefit of its creditors;


 


(f)         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 in which it is the debtor;


 


(ii)         appoints
a custodian of the Company or any Significant Subsidiary or for all or substantially all of its property; or


 


(iii)         orders
the liquidation of the Company or any Significant Subsidiary;


 


and the order or decree contemplated in clause
(i), (ii) or (iii), remains unstayed and in effect for 60 consecutive days;


 


A Default under paragraph
(c) or (d) of this Section 6.01 is not an Event of Default until the Trustee or the Holders of at least 25% in principal amount
of the outstanding Securities notify the Company of the Default and the Company does not cure such Default within the time specified
after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a
"Notice of Default".


 


To the extent that the
last day of the period referred to in paragraph (a), (c), (d), (e) or (f) of this Section 6.01 is not a Business Day, then the
first Business Day following such day shall be deemed to be the last day of the period referred to in such clauses. Any "day"
will be deemed to end as of 11:59 p.m., New York City time.


 






    	 	17	 



     


    

 


SECTION 6.02.         Acceleration.
If an Event of Default with respect to any Series of Securities at the time outstanding (other than an Event of Default with respect
to the Company specified in paragraph (e) and (f) of Section 6.01) occurs and is continuing, the Trustee or the Holders of at least
25% in principal amount of the then outstanding Securities of that Series may declare the unpaid principal of, (or, in the case
of Original Issue Discount Securities of that Series, the portion thereby specified in the terms of such Security) premium, if
any, and accrued and unpaid interest on all the Securities of that Series to be due and payable by notice in writing to the Company
(and the Trustee, if given by the Holders) specifying the respective Event of Default and that it is a "notice of acceleration."
Upon such a declaration, such amounts shall be due and payable immediately. If an Event of Default with respect to the Company
specified in paragraph (e) or (f) of Section 6.01 occurs, the principal amount of (or, in the case of Original Issue Discount Securities
of that Series, the portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest
on all the Securities of each Series of Security shall ipso facto become and be immediately due and payable without any declaration
or other act on the part of the Trustee or any Holder. The Holders of a majority in principal amount of the then outstanding Securities
of any Series of Securities by written notice to the Trustee may rescind an acceleration and its consequences if the rescission
would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived with respect to
such Series of Securities (except nonpayment of the principal amount of (or, in the case of Original Issue Discount Securities
of that Series, the portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest
on all the Securities of that Series that has become due solely because of the acceleration).


 


SECTION 6.03.         Other
Remedies. If an Event of Default with respect to any Series of Securities occurs and is continuing, the Trustee may pursue
any available remedy to collect the payment of the principal amount of (or, in the case of Original Issue Discount Securities of
that Series, the portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest on
all the Securities of that Series or to enforce the performance of any provision of the Securities of that Series or this Indenture.


 


The Trustee may maintain
a proceeding even if it does not possess any of the Securities of a Series or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default with respect
to any Series of Securities shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default.
All remedies are cumulative to the extent permitted by law.


 


SECTION 6.04.         Waiver
of Past Defaults. Holders of at least a majority in principal amount of the Securities of any Series (including consents obtained
in connection with a tender offer or exchange for Securities) by notice to the Trustee may on behalf of the Holders of all of Securities
of that Series waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event
of Default in the payment of the principal amount of (or, in the case of Original Issue Discount Securities of that Series, the
portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest on all the Securities
of that Series. Upon any such waiver, such Default shall cease to exist, 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 impair
any right consequent thereon. The Company shall deliver to the Trustee an Officers’ Certificate stating that the requisite
percentage of Holders has consents to such waiver and shall attach copies of such consents.


  


SECTION 6.05.         Control
By Majority. Holders of a majority in principal amount of the then outstanding Securities of any Series may 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 it with respect to that Series. However, the Trustee may refuse to follow any direction that conflicts with law or
this Indenture or, subject to Section 7.01, that the Trustee determines may be prejudicial to the rights of any other Holder of
Securities of that Series or that may involve the Trustee in personal liability.


 


SECTION 6.06.         Limitation
on Suits. Except to enforce the right to receive payment of the principal amount of (or, in the case of Original Issue Discount
Securities, the portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest on a
Security of Series when due, no Holder of a Security of that Series may pursue any remedy with respect to this Indenture or the
Securities of that Series unless:


 


(a)         the
Holder previously gave to the Trustee written notice of a continuing Event of Default;


 






    	 	18	 



     


    

 


(b)         the
Holders of at least 25% in aggregate principal amount of the then outstanding Securities of that Series have made a written request
to the Trustee to pursue the remedy;


 


(c)         such
Holder or Holders of that Series has offered and provided to the Trustee indemnity satisfactory to the Trustee against any loss,
liability or expense;


 


(d)         the
Trustee has not complied with the request within 60 days after receipt of the request and the offer and, if requested, the provision
of indemnity; and


 


(e)         during
such 60-day period the Holders of a majority in aggregate principal amount of the outstanding Securities of that Series have not
given the Trustee a direction inconsistent with the request.


 


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


 


SECTION 6.07.         Rights
of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment
of the principal amount of (or, in the case of Original Issue Discount Securities, the portion thereby specified in the terms of
such Security), premium, if any, and accrued and unpaid interest on the Securities held by such Holder, on or after their Maturity,
or to bring suit for the enforcement of any such payment on or after their Maturity, shall not be impaired or affected without
the consent of such Holder.


  


SECTION 6.08.         Collection
Suit by Trustee. If an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing, the Trustee is authorized
to recover judgment in its own name and as trustee of an express trust against the Company or any other obligor under the Securities
for the whole amount then due and, to the extent lawful, interest and 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.


 


SECTION 6.09.         Trustee
May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary
or advisable in order to have the claims of the Trustee (including without limitation any claim for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings
relative to the Company (or any other obligor under the Securities), its creditors or its property and shall be entitled and empowered
to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian 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 to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee
under Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding,
shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise.


 


SECTION 6.10.         
Priorities. If the Trustee collects any money or property pursuant to this Article 6 with respect to any Series of Securities,
it shall pay out the money or property in the following order:


 


First: to the
Trustee, its agents and attorneys for amounts due under Section 7.07; Second: to the payment of all Senior Indebtedness if and
to the extent required by Article 10 of this Indenture or other subordination provisions applicable with respect to a Series of
Securities; Third: to Holders for amounts due and unpaid on the Securities of that Series for the principal amount of (or, in the
case of Original Issue Discount Securities of that Series, the portion thereby specified in the terms of such Security), premium,
if any, and accrued and unpaid interest, ratably, without preference or priority of any kind, according to the amounts due and
payable on the Securities of that Series for the principal amount of (or, in the case of Original Issue Discount Securities of
that Series, the portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest, respectively;
and Fourth: to the Company or to such party as a court of competent jurisdiction shall direct.


 






    	 	19	 



     


    

 


The Trustee may fix a record
date and payment date for any payment to Holders pursuant to this Section 6.10.


 


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


  


ARTICLE 7


 


TRUSTEE


 


SECTION 7.01.         
Duties of Trustee.


 


(a)         
If an Event of Default of which a Responsible Officer of the Trustee has actual knowledge has occurred and is continuing with respect
to any Series of Securities, 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 its exercise as a prudent person would exercise or use under the circumstances in the conduct
of his or her own affairs.


 


(b)         Except
during the continuance of an Event of Default with respect to any Series of Securities of which a Responsible Officer of the Trustee
has actual knowledge or of which written notice shall have been given to the Trustee in accordance with the terms of this Indenture:


 


(i)         
the duties of the Trustee shall be determined solely by the express provisions of this Indenture, with respect to the Securities
of that Series, as modified or supplemented by a Board Resolution, a supplemental indenture or an Officers' Certificate, and the
Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants
or obligations shall be read into this Indenture against the Trustee; and


 


(ii)         
in the absence of bad faith on its part, the Trustee may with respect to Securities of that Series, conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee
and conforming to the requirements of this Indenture. However, with respect to certificates or opinions specifically required by
any provision hereof to be furnished to it, the Trustee shall examine the certificates and opinions to determine whether or not
they conform on their face to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).


 


(c)         
The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:


 


(i)         
this paragraph does not limit the effect of paragraph (b) of this Section 7.01;


 


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


 


(iii)         the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received
by it pursuant to Section 6.05 and the Trustee shall be entitled from time to time to request such direction.


 


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


 






    	 	20	 



     


    

 


(e)         Notwithstanding
anything to the contrary in this Indenture, no provision of this Indenture shall require the Trustee to expend or risk its own
funds or incur any liability. The Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture
at the request of any Holders, unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against
any loss, liability or expense.


 


(f)         The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.


 


(g)         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 or other paper or documents.


 


SECTION 7.02.          Rights
of Trustee.


 


(a)          The
Trustee may conclusively rely on the truth of the statements and correctness of the opinions contained in, and shall be protected
from acting or refraining from acting upon, any document. The Trustee need not investigate any fact or matter stated in the 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, to the extent reasonably required by such inquiry or investigation
at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation.


 


(b)         Before
the Trustee acts or refrains from acting, it may require an Officers' Certificate or an Opinion of Counsel or both. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers' Certificate or Opinion
of Counsel. Prior to taking, suffering or admitting any action, the Trustee may consult with counsel of the Trustee's own choosing
and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability
in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.


 


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


 


(d)         The
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within
its rights or powers.


  


(e)         Unless
otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient
if signed by an Officer of the Company.


 


(f)         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 unless such Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to the
Trustee against the costs, expenses and liabilities that might be incurred by it in compliance with such request or direction.
In no event shall the Trustee be liable or responsible for special, punitive, indirect, consequential or incidental loss or damage
of any kind whatsoever (including but not limited to lost profits) for any action it takes or omits to take, even if the Trustee
has been advised of the likelihood of such loss or damage and regardless of the form of action.


 


(g)         The
Trustee shall not be deemed to have notice of any Default or Event of Default with respect to Securities of any Series unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default
or Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee from the Issuer
or the Holders of 25% in aggregate principal amount of the outstanding Securities of all series affected thereby, and such notice
references the specific Default or Event of Default, the Notes of such series and this Indenture


 






    	 	21	 



     


    

 


(h)         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 as Registrar and Paying Agent, and each Agent
and other Person employed to act hereunder.


 


(i)         The
Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles
of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may
be signed by any Person authorized to sign an Officers’ Certificate, including any Person specified as so authorized in any
such certificate previously delivered and not superseded.


 


(j)         Notwithstanding
any provision herein to the contrary, in no event shall the Trustee be liable for any failure or delay in the performance of its
obligations under this Indenture because of circumstances beyond its control, including, but not limited to, nuclear or natural
catastrophes or acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot, strikes or work stoppages for
any reason, embargo, government action, including any laws, ordinances, regulations or the like which restrict or prohibit the
providing of the services contemplated by this Indenture, inability to obtain material, equipment, or communications or computer
(software and hardware) facilities, or the failure of equipment or interruption of utilities, communications or computer (software
and hardware) facilities, and other causes beyond its control whether or not of the same class or kind as specifically named above.


 


(k)         If at any time Trustee
is served with any judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process
which in any way affects any property held by it hereunder (including, but not limited to, orders of attachment or garnishment
or other forms of levies or injunctions or stays relating to the transfer of any property), Trustee is authorized to comply therewith
in any manner as it or its legal counsel of its own choosing deems appropriate in good faith; and if Trustee complies with any
such judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process, Trustee shall
not be liable to any of the parties hereto or to any other person or entity even though such order, judgment, decree, writ or process
may be subsequently modified or vacated or otherwise determined to have been without legal force or effect.


 


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


 


SECTION 7.03.         Individual
Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may
otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. However,
in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the Commission
for permission to continue as Trustee or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject
to Sections 7.10 and 7.11.


 


SECTION 7.04.         Trustee's
Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture
or the Securities, it shall not be accountable for the Company's use of the proceeds from the Securities or any money paid to the
Company or upon the Company's direction under any provision of this Indenture, it shall not be responsible for the use or application
of any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital
herein or any statement in the Securities or any other document in connection with the sale of the Securities or pursuant to this
Indenture other than its certificate of authentication.


 


SECTION 7.05.         Notice
of Defaults. If a Default or Event of Default with respect to Securities of any Series occurs and is continuing and if it is
known to the Trustee, the Trustee shall mail to Holders of that Series a notice of the Default or Event of Default within 90 days
after it occurs. Except in the case of a Default or Event of Default in payment on any Security pursuant to Section 6.01(a) or
(b), the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that
withholding the notice is in the interests of the Holders.


 






    	 	22	 



     


    

  


SECTION 7.06.         Reports
By Trustee to Holders. Unless otherwise specified in the applicable Board Resolution, supplemental indenture or Officers' Certificate,
within 60 days after each September 15 beginning with the September 15 following the date of this Indenture, and for so long as
Securities remain outstanding, the Trustee shall mail to the Holders of the Securities a brief report dated as of such reporting
date that complies with TIA Section 313(a) (but if no event described in TIA Section 313(a) has occurred within the twelve months
preceding the reporting date, no report need be transmitted). The Trustee also shall comply with TIA Section 313(b). The Trustee
shall also transmit by mail all reports as required by TIA Section 313(c).


 


A copy of each report at
the time of its mailing to the Holders shall be mailed to the Company and filed with the Commission and each stock exchange on
which the Company has informed the Trustee in writing the Securities are listed in accordance with TIA Section 313(d). The Company
shall promptly notify the Trustee in writing when the Securities are listed on any stock exchange and of any delisting thereof.


 


SECTION 7.07.         Compensation
and Indemnity. The Company shall pay to the Trustee from time to time reasonable compensation for its acceptance of this Indenture
and services hereunder. To the extent lawful, the Trustee's compensation shall not be limited by any law on compensation of a trustee
of an express trust. The Company shall reimburse the Trustee promptly upon request for all reasonable disbursements, advances and
expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee's agents and counsel.


 


The Company shall indemnify
the Trustee against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance
or administration of its duties under this Indenture, including the reasonable costs and expenses of enforcing this Indenture against
the Company or any other obligors under the Securities (including this Section 7.07) and defending itself against any claim (whether
asserted by the Company or any Holder or any other person) or liability in connection with the exercise or performance of any of
its powers or duties hereunder except to the extent any such loss, liability or expense may be attributable to its gross negligence,
bad faith or willful misconduct. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure
by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the
claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Company shall pay the reasonable
fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not
be unreasonably withheld.


 


The obligations of the Company under this Section
7.07 constitute additional Indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture, including
without limitation any termination or rejection hereof under any Bankruptcy Law. The obligations of the Company under this Section
7.07 shall not be subordinated to the payment of Senior Indebtedness.


 


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


  


When the Trustee incurs
expenses or renders services after an Event of Default specified in Section 6.01(e) or (f) occurs, the expenses and the compensation
for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration
under any Bankruptcy Law.


 


The Trustee shall comply
with the provisions of TIA Section 313(b)(2) to the extent applicable.


 


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


 


The Trustee may resign
in writing at any time and be discharged from the trust hereby created with respect to the Securities of any Series by so notifying
the Company. The Holders of a majority in principal amount of the then outstanding Securities of any Series may remove the Trustee
with respect to such Series of Securities by so notifying the Trustee and the Company in writing. The Company may remove the Trustee
if:


 






    	 	23	 



     


    

 


(a)         the
Trustee fails to comply with Section 7.10;


 


(b)         the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;


 


(c)         a
Custodian or public officer takes charge of the Trustee or its property; or


 


(d)         the
Trustee becomes incapable of acting.


 


If the Trustee resigns,
is removed by the Company or by the Holders of a majority in principal amount of the Securities of any Series and such Holders
do not reasonably promptly appoint a successor Trustee or if a vacancy exists in the office of Trustee for any reason (the Trustee
in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee.


 


If a successor Trustee
does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, or the
Holders of at least 10% in principal amount of Securities of that Series may petition any court of competent jurisdiction at the
expense of the Company for the appointment of a successor Trustee.


 


If the Trustee, after written
request by any Holder of a Security who has been a Holder of a Security for at least six months, fails to comply with Section 7.10,
such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee.


 


A successor Trustee shall
deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or removal
of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly
transfer all property held by it as Trustee to the successor Trustee, provided that all sums owing to the Trustee hereunder have
been paid and subject to the lien provided for in Section 7.07. Notwithstanding replacement of the Trustee pursuant to this Section
7.08, the Company's obligations under Section 7.07 shall continue for the benefit of the retiring Trustee.


 


SECTION 7.09.         Successor
Trustee by Merger, Etc. If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its
corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee;
provided, such corporation or association shall be otherwise eligible and qualified under this Article 7 and shall notify the Company
of its successor hereunder.


 


SECTION 7.10.         Eligibility;
Disqualification. There shall at all times be a Trustee hereunder that is a corporation organized and doing business under
the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee
power, that is subject to supervision or examination by federal or state authorities and has a combined capital and surplus of
at least $50.0 million as set forth in its most recent published annual report of condition.


 


This Indenture shall always have a Trustee who
satisfies the requirements of TIA Section 310(a)(1), (2) and (5). The Trustee is subject to TIA Section 310(b).


 


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


 






    	 	24	 



     


    

 


ARTICLE 8


 


DISCHARGE; LEGAL DEFEASANCE AND COVENANT
DEFEASANCE


 


SECTION 8.01.         Discharge;
Option to Effect Legal Defeasance or Covenant Defeasance.


 


(a)         When
(i) the Company delivers to the Trustee all outstanding Securities of a Series (other than Securities replaced pursuant to Section
2.08) for cancellation or (ii) all outstanding Securities have become due and payable at maturity and the Company irrevocably deposits
with the Trustee funds sufficient to pay at Maturity all outstanding Securities of such Series, including interest thereon to Maturity
(other than Securities replaced pursuant to Section 2.08), and if in either case the Company pays all other sums payable hereunder
by the Company, then this Indenture shall cease to be of further effect except as set out in Section 8.01(c). The Trustee shall
acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers' Certificate and an
Opinion of Counsel and at the cost and expense of the Company.


  


(b)         Notwithstanding
Section 8.01(a), the Company's obligations in Sections 2.03, 2.04, 2.05, 2.06, 2.07, 2.08 and 2.11 and the rights, powers, trusts,
duties and immunities of the Trustee, including without limitation, under Sections 7.07, 8.05 and 8.07, and the Company's obligations
in connection therewith, shall survive until the Securities of a Series have been paid in full. The rights of outstanding Securities
to receive solely from the trust funds described in Section 8.05 payments in respect of principal of, premium, if any, and interest
on such Securities when such payments are due shall also survive until the Securities have been paid in full. Thereafter, the Company's
obligations in Sections 7.07 and 8.06 shall survive.


 


(c)         The
Company may, at the option of its Board of Directors evidenced by a resolution set forth in an Officers' Certificate, at any time,
elect to have all of its obligations discharged with respect to all outstanding Securities of any Series pursuant to Section 8.02
or 8.03 and upon compliance with the conditions set forth below in this Article 8.


 


SECTION 8.02.         Legal
Defeasance and Discharge. Upon the Company's exercise under Section 8.01(b) of the option applicable to this Section 8.02,
the Company shall, subject to the satisfaction of the conditions set forth in Section 8.04, be deemed to have been discharged from
its obligations with respect to all outstanding Securities of that Series on the date the conditions set forth below are satisfied
(hereinafter, "Legal Defeasance"). For this purpose, Legal Defeasance means that the Company shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding Securities of that Series, which shall thereafter
be deemed to be "outstanding" only for the purposes of Section 8.05 and the other Sections of this Indenture referred
to in (a) and (b) below, and to have satisfied all its other obligations under such Securities and this Indenture (and the Trustee,
on demand and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged hereunder:


 


(a)         
the rights of Holders of outstanding Securities of that Series to receive solely from the trust fund described in Section 8.04(a),
payments in respect of the principal of, premium, if any, and interest on such Securities of that Series when such payments are
due;


 


(b)         
the Company's obligations with respect to such Securities of that Series under Sections 2.03, 2.04, 2.05, 2.06, 2.07, 2.08 and
2.11;


 


(c)         
the rights, powers, trusts, duties and immunities of the Trustee, including without limitation, under Sections 7.07, 8.05 and 8.07,
and the Company's obligations in connection therewith; and


 


(d)         
the provisions of this Article 8.


 


Subject to compliance with
this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under
Section 8.03.


 


SECTION 8.03.         
Covenant Defeasance. Upon the Company's exercise under Section 8.01(b) of the option applicable to this Section 8.03, the
Company shall, subject to the satisfaction of the conditions set forth in Section 8.04, be released from its obligations under
the covenants contained in a Board Resolution, a supplemental indenture or an Officers' Certificate and Section 5.01 with respect
to the outstanding Securities of that Series on and after the date the conditions set forth below are satisfied (hereinafter, "Covenant
Defeasance"), and the Securities of that Series shall thereafter be deemed not "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 (it being understood that such
Securities shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect
to the outstanding Securities of that Series, the Company and its Subsidiaries 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 under Section 6.01,
but, except as specified above, the remainder of this Indenture and such Securities shall be unaffected thereby. In addition, upon
the Company's exercise under Section 8.01(b) of the option applicable to this Section 8.03, subject to the satisfaction of the
conditions set forth in Section 8.04, any event specified in Section 6.01 (other than Section 6.01(e) and (f)) shall not constitute
an Event of Default.


 






    	 	25	 



     


    

  


SECTION 8.04.         Conditions
to Legal or Covenant Defeasance. The following shall be the conditions to the application of either Section 8.02 or 8.03 to
the outstanding Securities:


 


In order to exercise either
Legal Defeasance or Covenant Defeasance with respect to any Series of Securities:


 


(a)         the
Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of that Series of Securities, (i) cash
in United States dollars, (ii) non-callable Government Securities or (iii) a combination thereof, in such amounts as shall be sufficient,
in the opinion of a nationally recognized firm of independent public accountants to pay the principal of, premium, if any, and
interest on the outstanding Securities of such Series on the stated maturity or on the applicable redemption date, as the case
may be, and the Company must specify whether the Securities of such Series are being defeased to maturity or to a particular redemption
date;


 


(b)         
in the case of an election under Section 8.02, the Company shall have delivered to the Trustee an Opinion of Counsel in the United
States reasonably acceptable to the Trustee confirming that (i) the Company has received from, or there has been published by,
the Internal Revenue Service a ruling or (ii) since the date hereof, there has been a change in the applicable federal income tax
law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding
Securities of such Series shall not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance
and shall be subject to federal income tax on the same amounts, in the same manner and at the same time as would have been the
case if such Legal Defeasance had not occurred;


 


(c)         
in the case of an election under Section 8.03, the Company shall have delivered to the Trustee an Opinion of Counsel in the United
States reasonably acceptable to the Trustee confirming that the Holders of the outstanding Securities of such Series shall not
recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and shall be subject to
federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance
had not occurred;


  


(d)         no
Default or Event of Default with respect to that Series of Securities shall have occurred and be continuing on the date of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) or insofar
as Sections 6.01(e) and (f) are concerned, at any time in the period ending on the 91st day after the date of deposit (it being
understood that this condition shall not be deemed satisfied until the expiration of such period);


 


(e)         such
Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under any material
agreement or instrument (other than this Indenture) to which the Company is a party or by which the Company is bound;


 


(f)         the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect that after the 91st day following the deposit,
the trust funds will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting
creditors' rights generally;


 






    	 	26	 



     


    

 


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


 


(h)         the
Company shall have delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for relating to the Legal Defeasance or the Covenant Defeasance have been complied with.


 


SECTION 8.05.      Deposited
Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. Subject to Section 8.06, all money and
non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively
for purposes of this Section 8.05, the "Trustee") pursuant to Section 8.04 in respect of the outstanding Securities
of that Series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this
Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee
may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium, if
any, and interest but such money 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 cash or non-callable Government Securities
deposited pursuant to Section 8.04 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 Securities of that Series.


  


Anything in this Article
8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the written request of
the Company, and be relieved of all liability with respect to, any money or non-callable Government Securities held by it as provided
in Section 8.04 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a)), are in excess of the
amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.


 


SECTION 8.06.         Repayment
to the Company. 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, premium, if any, and interest on any Security and remaining unclaimed for one year after such principal, and
premium, if any, or interest, has become due and payable shall be paid to the Company on its written request or (if then held by
the Company) shall be discharged from such trust; and the Holder of such Security 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, may at the expense of the Company cause to be published once, in
the New York Times and The Wall Street Journal (national edition), 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 notification or publication, any unclaimed balance
of such money then remaining shall be repaid to the Company.


 


SECTION 8.07.         Reinstatement.
If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable Government Securities in accordance
with Section 8.02 or 8.03, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the obligations of the Company under this Indenture, and the Securities
shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 until such time as the Trustee
or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03, as the case may be; provided, however,
that, if the Company makes any payment of principal of, premium, if any, or interest on any Security following the reinstatement
of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from
the money held by the Trustee or Paying Agent.


 






    	 	27	 



     


    

 


ARTICLE 9


 


AMENDMENT, SUPPLEMENT AND WAIVER


 


SECTION 9.01.         Without
Consent of Holders. Without the consent of any Holder, the Company and the Trustee may amend or supplement this Indenture or
the Securities:


 


(a)         to
evidence the succession of another Person to the Company pursuant to Article 5 and the assumption by such successor of the Company's
covenants, agreements and obligations in this Indenture and in the Securities;


 


(b)         to
surrender any right or power conferred upon the Company by this Indenture, to add to the covenants of the Company such further
covenants, restrictions, conditions or provisions for the protection of the Holders of all or any Series of Securities as the Board
of Directors of the Company shall consider to be for the protection of the Holders of such Securities, and to make the occurrence,
or the occurrence and continuance, of a default in respect of any such additional covenants, restrictions, conditions or provisions
a Default or an Event of Default under this Indenture; provided, however, that with respect to any such additional covenant, restriction,
condition or provision, such amendment may provide for a period of grace after default, which may be shorter or longer than that
allowed in the case of other Defaults, may provide for an immediate enforcement upon such Default, may limit the remedies available
to the Trustee upon such Default or may limit the right of Holders of a majority in aggregate principal amount of the Securities
of any Series to waive such default;


 


(c)         to
cure any ambiguity or correct or supplement any provision contained in this Indenture, in any supplemental indenture or in any
Securities that may be defective or inconsistent with any other provision contained therein;


 


(d)         to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee, or to make such other provisions in regard to
matters or questions arising under this Indenture as shall not adversely affect the interests of any Holders of Securities of any
Series;


 


(e)         to
modify or amend this Indenture in such a manner as to permit the qualification of this Indenture or any supplemental indenture
hereto under the TIA as then in effect;


 


(f)         to
change or eliminate any restrictions on the payment of principal or premium with respect to Securities in registered form, so as
to not adversely affect the interests of the Holders or any coupons of any Series in any material respect or permit or facilitate
the issuance of Securities of any Series in uncertificated form;


 


(g)         
to make any change in the provisions of this Indenture or any supplemental indenture relating to subordination that would limit
or terminate the benefits available to any holder of Senior Indebtedness (as defined in the applicable Board Resolution, supplemental
indenture hereto or Officers' Certificate related to such Series of Subordinated Securities) under such provisions (but only if
each such holder of Senior Indebtedness under such provisions consents to such change);


 


(h)     to
add guarantees with respect to the Securities or to secure the Securities;


 


(i)     
to make any change that does not adversely affect the rights of any Holder;


 


(j)         to
add to, change or eliminate any of the provisions of this Indenture with respect to one or more Series of Securities, so long as
any such addition, change or elimination not otherwise permitted under this Indenture shall (x) neither apply to any Security of
any Series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor modify
the rights of the Holders of any such Security with respect to the benefit of such provision or (y) become effective only when
there is no such Security outstanding;


  


(k)         to
conform the text of this Indenture to any provision of this description of debt securities or any description of debt securities
contained in the prospectus supplement to the extent that such provision was intended to be a verbatim recitation of the Indenture;


 


(l)         
to evidence and provide for the acceptance of appointment by a successor or separate Trustee with respect to the Securities of
one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of this Indenture by more than one Trustee; or


 






    	 	28	 



     


    

 


(m)     to
establish the form or terms of Securities and coupons of any Series pursuant to Article 2.


 


Upon the request of the
Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental Indenture,
and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall join with the Company in the execution
of any amended or supplemental Indenture authorized or permitted by the terms of this Indenture and to make any further appropriate
agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into such amended or
supplemental Indenture that affects its own rights, duties or immunities under this Indenture or otherwise.


 


SECTION 9.02.      
With Consent of Holders of Securities. The Company and the Trustee may amend or supplement this Indenture or the Securities
of any Series with the consent of the Holders of at least a majority in principal amount of the Securities of such Series then
outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange offer for Securities),
and, subject to Sections 6.02, 6.04 and 6.07, any existing Default or Event of Default (other than a Default or Event of Default
in the payment of the principal of, premium, if any, or interest on the Securities (except a payment default resulting from an
acceleration that has been rescinded)) or compliance with any provision of this Indenture or the Securities of any Series may be
waived with the consent of the Holders of a majority in principal amount of the then outstanding Securities of such Series voting
as a single class (including consents obtained in connection with or a tender offer or exchange offer for the Securities).


 


Upon the request of the
Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture,
and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Securities as aforesaid,
and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall join with the Company in the execution
of such amended or supplemental Indenture unless such amended or supplemental indenture affects the Trustee's own rights, duties
or immunities under this Indenture or otherwise, in which case the Trustee may, but shall not be obligated to, enter into such
amended or supplemental indenture.


  


It shall not be necessary
for the consent of the Holders of Securities under this Section 9.02 to approve the particular form of any proposed amendment or
waiver, but it shall be sufficient if such consent approves the substance thereof.


 


After an amendment, supplement
or waiver under this Section 9.02 becomes effective, the Company shall mail to the Holders of Securities affected thereby a notice
briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein,
shall not, however, in any way impair or affect the validity of any such amended or supplemental Indenture or waiver. However,
without the consent of the Holders of all of the affected Securities, an amendment, supplement or waiver may not (with respect
to any Security of any Series held by a non-consenting Holder):


 


(a)         reduce
the principal amount of Securities whose Holders must consent to an amendment, supplement or waiver;


 


(b)         
reduce the principal amount of or extend the Stated Maturity of any Security, or alter the provisions with respect to the redemption
of the Securities;


 


(c)         
reduce the rate of or extend the time for payment of interest on any Securities;


 


(d)         waive
a Default or Event of Default in the payment of principal of or premium, if any, or interest on the Securities (except a rescission
of acceleration of the Securities by the Holders of at least a majority in aggregate principal amount of the Securities then outstanding
and a waiver of the payment default that resulted from such acceleration);


 


(e)         make
any Security payable in money other than that stated in the Securities;


 


(f)         
make any change in Section 6.04 or 6.07;


 






    	 	29	 



     


    

 


(g)          waive
a redemption payment with respect to any Security; or


 


(h)         make
any change in the foregoing amendment and waiver provisions of this Article 9. 


 


Notwithstanding the foregoing, any amendment
to the provisions of Article 10 of this Indenture with respect to any Series of Securities shall require the consent of the Holders
of at least 75% in aggregate amount of Securities of such Series then outstanding (including consents obtained in connection with
a tender offer or exchange for such Securities, if such amendment would adversely affect the rights of the Holders of the Securities
of such Series). 


 


SECTION 9.03.         
Compliance with Trust Indenture Act. Every amendment or supplement to this Indenture or the Securities shall comply with
the TIA as then in effect.


 


SECTION 9.04.         Revocation
and Effect of Consents and Waivers. A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and
every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder's Security,
even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke
the consent or waiver as to such Holder's Security or portion of the Security if the Trustee receives the notice of revocation
before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every
Holder. An amendment or waiver becomes effective once both (i) the requisite number of consents have been received by the Company
or the Trustee and (ii) such amendment or waiver has been executed by the Company and the Trustee.


  


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


 


SECTION 9.05.         Notation
on or Exchange of Securities. The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Security thereafter authenticated. The Company in exchange for all Securities may issue and the Trustee
upon receipt of a Company Order shall authenticate new Securities
that reflect the amendment, supplement or waiver.


 


Failure to make the appropriate
notation or issue a new Security shall not affect the validity and effect of such amendment, supplement or waiver.


 


SECTION 9.06.         Trustee
to Sign Amendments, Etc. The Trustee shall sign any amended or supplemental Indenture authorized pursuant to this Article 9
if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company
may not sign an amendment or supplemental Indenture until the Board of Directors approves it. In executing any amended or supplemental
indenture the Trustee shall be entitled to receive and (subject to Section 7.01) shall be fully protected in relying upon, in addition
to the documents required by Section 10.04, an Officers' Certificate and an Opinion of Counsel stating that the execution of such
amended or supplemental indenture is authorized or permitted by this Indenture, that it is not inconsistent herewith, that it has
been duly authorized, executed and delivered by the Company and any Guarantor and that it will be valid and binding upon the Company
and any Guarantor in accordance with its terms.


 


ARTICLE 10


 


SUBORDINATION


 


SECTION 10.01.         Securities
Subordinated to Senior Indebtedness. The Company covenants and agrees, and each Holder of Securities by such Holder’s
acceptance thereof, likewise covenants and agrees, that the indebtedness evidenced by the Securities and the payment of the principal
of, premium, if any and interest on each and all of the Securities is hereby expressly subordinated, to the extent and in the manner
hereinafter set forth, in right of payment to the prior payment in full of Senior Indebtedness.


 






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Anything in this Indenture or in the Securities
to the contrary notwithstanding, the indebtedness evidenced by the Securities shall be subordinate and junior in right of payment,
to the extent and in the manner hereinafter set forth, to all Senior Indebtedness. Senior Indebtedness shall continue to be Senior
Indebtedness and entitled to the benefits of these subordination provisions irrespective of any amendment, modification or waiver
of any term of Senior Indebtedness or extension or renewal of Senior Indebtedness.


 


(a)         In
the event the Company shall default in the payment of any Senior Indebtedness when the same becomes due and payable, whether at
maturity or on a date fixed for prepayment or by declaration or otherwise, then, unless and until such default shall have been
cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property or securities or by set-off or
otherwise) shall be made or agreed to be made on account of the principal of, premium, if any, or interest on the Securities, or
as a sinking fund for the Securities, or in respect of any redemption, retirement, purchase or other acquisition of any of the
Securities.


 


(b)          Upon
the happening of an event of default with respect to any Senior Indebtedness, permitting the holders thereof to accelerate the
maturity thereof (other than under circumstances when the terms of Section 10.01(a) are applicable), then, unless and until such
event of default shall have been cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property
or securities or by set-off or otherwise) shall be made or agreed to be made on account of the principal of, or premium, if any,
or interest on the Securities, or as a sinking fund for the Securities, or in respect of any redemption, retirement, purchase or
other acquisition of any of the Securities, during any period:


 


(i)          of
90 days after written notice of such default shall have been given to the Company by any holder of Senior Indebtedness; or


 


(ii)         in
which any judicial proceeding shall be pending in respect of such default and a notice of acceleration of the maturity of such
Senior Indebtedness shall have been transmitted to the Company in respect of such default.


 


(c)          In
the event of


 


(i)          any
insolvency, bankruptcy, receivership, liquidation, reorganization, readjustment, composition or other similar proceeding relating
to the Company, its creditors or its property;


 


(ii)         any
proceeding for the liquidation, dissolution or other winding-up of the Company, voluntary or involuntary, whether or not involving
insolvency or bankruptcy proceedings;


 


(iii)        any
assignment by the Company for the benefit of creditors; or


 


(iv)       any
other marshalling of the assets of the Company,


 


all Senior Indebtedness (including any interest
accruing after the commencement of such proceedings) shall first be paid in full before any payment or distribution, whether in
cash, securities or other property, shall be made to any Holder of Securities on account of the Securities. Any payment or distribution,
whether in cash, securities or other property (other than securities of the Company or any other corporation provided for by a
plan of reorganization or readjustment the payment of which is subordinate, at least to the extent provided in this Article 10
with respect to the Securities, to the payment of all Senior Indebtedness at the time outstanding and to any securities issued
in respect thereof under any such plan of reorganization or readjustment), which would otherwise (but for the provisions of this
Article 10) be payable or deliverable in respect of the Securities shall be paid or delivered directly to the holders of Senior
Indebtedness in accordance with the priorities then existing among such holders until all Senior Indebtedness (including any interest
thereon accruing after the commencement of any such proceedings) shall have been paid in full.


 






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(d)          In
the event that any Security shall be declared due and payable as the result of the occurrence of any one or more defaults in respect
thereof, under circumstances when the terms of Section 10.01(c) are not applicable, no payment shall be made in respect of any
Securities unless and until all Senior Indebtedness shall have been paid in full or such declaration and its consequences shall
have been rescinded and all such defaults shall have been remedied or waived. The rights of holders of Senior Indebtedness under
this Section 10.01 do not extend to any payment or distribution, whether in cash, securities or other property, to the extent
applied to the Trustee’s rights to compensation, reimbursement of expenses, liabilities or indemnification.


 


(e)          If
any payment or distribution of any character or any security, whether in cash, securities or other property (other than securities
of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate,
at least to the extent provided in the provisions of this Article 10 with respect to the Securities, to the payment of all Senior
Indebtedness at the time outstanding and to any securities issued in respect thereof under any such plan or reorganization or readjustment),
shall be received by any Holder of Securities in contravention of any terms hereof and before all the Senior Indebtedness shall
have been paid in full, such payment or distribution or security shall be received in trust for the benefit of, and shall be paid
over or delivered and transferred to, the holders of the Senior Indebtedness at the time outstanding, in accordance with the priorities
then existing among such holders for application to the payment of all Senior Indebtedness remaining unpaid, or, if applicable,
to any trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making paying or distribution
of assets of the Company, to the extent necessary to pay all such Senior Indebtedness in full. In the event of the failure of any
Holder of Securities to endorse or assign any such payment, distribution or security, each holder of Senior Indebtedness is hereby
irrevocably authorized to endorse or assign the same.


 


(f)          Nothing
contained herein shall impair, as between the Company and the Holder of any Securities, the obligation of the Company to pay to
the Holder thereof the principal thereof and interest thereon as and when the same shall become due and payable in accordance with
the terms of such Security, or prevent the Holder of any Securities from exercising all rights, powers and remedies otherwise permitted
by applicable law or pursuant to the terms of this Indenture and the Security, upon a default or Event of Default under this Indenture,
all subject to the rights of the holders of the Senior Indebtedness to receive cash, securities or other property otherwise payable
or deliverable to the Holders of the Securities.


 


(g)          Senior
Indebtedness shall not be deemed to have been paid in full unless the holders thereof shall have received cash equal to the amount
of such Senior Indebtedness then outstanding. Upon the payment in full of all Senior Indebtedness, the Holders of Securities shall
be subrogated to all rights of any holders of Senior Indebtedness to receive any further payments or distributions applicable to
the Senior Indebtedness until all amounts owing on the Securities shall have been paid in full, and such payments or distributions
received by the holders of the Securities by reason of such subrogation, of cash, securities or other property which otherwise
would be paid or distributed to the holders of Senior Indebtedness, shall, as between the Company and its creditors other than
the holders of Senior Indebtedness, on the one hand, and the Holders of Securities, on the other hand, be deemed to be a payment
by the Company on account of Senior Indebtedness and not on account of Securities.


 


The Company shall give prompt written notice
to the Trustee of any insolvency, bankruptcy, receivership, liquidation, reorganization, readjustment, composition or other similar
proceeding relating to the Company within the meaning of this Section 10.01. Upon any payment or distribution of assets of the
Company referred to in this Article 10, the Trustee, subject to the provisions of Section 7.01, and the Holders of Securities
shall be entitled to conclusively rely upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of
creditors or other liquidating agent making such payment or distribution, delivered to the Trustee or to the Holders of Securities,
or upon an order or decree made by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation,
reorganization, readjustment, composition or other similar proceedings are pending, for the purpose of ascertaining the person
entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the
amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article 10. In the absence of any such bankruptcy trustee, receiver, assignee, or other Person, the Trustee shall be entitled
to conclusively rely upon a written notice by a Person representing itself, himself or herself to be a holder of Senior Indebtedness
(or a trustee or representative on behalf of such holder) as evidence that such Person is a holder of such Senior Indebtedness
(or is such a trustee or representative), the amount of or payable on and the amount or amounts paid or distributed on such Senior
Indebtedness or other indebtedness, and all other facts pertinent to such Senior Indebtedness or other indebtedness.


 






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In the event that the Trustee determines, in
good faith, that further evidence is required with respect to the right of any person as a holder of Senior Indebtedness to participate
in any payment or distribution pursuant to this Section 10.01, the Trustee may request such person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of Senior Indebtedness held by such person, as to the extent to which such person
is entitled to participate in such payment or distribution, and as to other facts pertinent to the rights of such person under
this Section 10.01, and if such evidence is not furnished, the Trustee may defer any payment to such person pending judicial determination
as to the right of such person to receive such payment.


 


SECTION 10.02.         Effectuation
of Subordination by Trustee. Each Holder of Securities, by such Holder’s acceptance thereof, authorizes and directs the
Trustee in his behalf to take such action as may be necessary or appropriate to effectuate, as between the Holders of the Securities
and the holders of Senior Indebtedness, the subordination provided in this Article 10 and appoints the Trustee his attorney-in-fact
for any and all such purposes.


 


SECTION 10.03.         Knowledge
of Trustee. Nothing contained in this Article 10 or elsewhere in this Indenture, shall (a) prevent the Company from setting
aside in trust or depositing with the Trustee or any Paying Agent, at any time, except during the pendency of any of the proceedings
or upon the happening or continuance of any of the events referred to in Section 10.01, moneys for the payment of principal of,
or premium, if any, or interest on, the Securities, or (b) prevent the application by the Trustee or Paying Agent of any moneys
deposited with it hereunder by or on behalf of the Company to the payment of or on account of the principal of, or the premium,
if any, or interest on the Securities, if the Trustee or the Paying Agent, as the case may be, did not have written notice of any
event prohibiting such application by the close of business on the Business Day immediately prior to the date of such application.


 


Notwithstanding the provisions of this Article
or any other provisions of this Indenture, the Trustee shall not be charged with knowledge of the existence of any Senior Indebtedness
or of any default or event of default with respect to any Senior Indebtedness or any fact or facts which would prohibit the making
of any payment of moneys to or by the Trustee, or the taking of any other action by the Trustee, and
shall be entitled conclusively to assume that no such facts exist, unless and until the Trustee shall have received written notice
thereof from the Company, any Holder of Securities, any paying or conversion agent of the Company or the holder or representative
of any class of Senior Indebtedness who shall have been certified by the Company or otherwise established to the reasonable satisfaction
of the Trustee to be such holder or representative or by the trustee under any indenture pursuant to which Senior Indebtedness
shall be outstanding; provided, however, that if the Trustee shall not have received the written notice provided for in this Section
at least three (3) Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose
(including, without limitation, the payment of the principal of or interest on any Security) then, anything herein contained to
the contrary notwithstanding, the Trustee shall have all power and authority to receive such money and to apply the same to the
purpose for which such money were received and shall not be affected by any notice to the contrary which may be received by it
during or after such three (3) Business Day period.


 


SECTION 10.04.         Trustee’s
Relation to Senior Indebtedness. The Trustee shall be entitled to all rights set forth in this Article 10 with respect to any
Senior Indebtedness at the time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in Section
7.11 or elsewhere in this Indenture shall deprive the Trustee of any of its rights as such holder. Nothing in this Article 10 shall
subordinate to Senior Indebtedness the claims of, or payments to, the Trustee under or pursuant to Section 7.07, or otherwise in
connection with any compensation, reimbursement or indemnification afforded the Trustee in connection with this Indenture.


 


With respect to the holders of Senior Indebtedness,
the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this
Article 10 and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture
against the Trustee and the Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall
not be liable to any holder of Senior Indebtedness if it shall pay over or deliver to Holders, the Company or any other Person
monies or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article or otherwise.


 






    	 	33	 



     


    

 


SECTION 10.05.         Rights
of Holders of Senior Indebtedness Not Impaired. No right of any present or future holder of any Senior Indebtedness to enforce
the subordination herein shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of
the Company or by any non-compliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any
knowledge thereof any such holder may have or be otherwise charged with.


 


ARTICLE 11


 


NOTE GUARANTEES


 


SECTION 11.01.       
Guarantee.


 


(a)         Subject
to this Article 11, the Guarantor hereby unconditionally guarantees to each Holder of Securities issued by Icahn Enterprises Finance,
authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and
enforceability of this Indenture, the Securities or the obligations of the Company hereunder or thereunder, that:


 


(1)         the
principal of, premium and liquidated damages, if any, and interest on, the Notes will be promptly paid in full when due, whether
at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of
premium on, if any and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders
or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and
thereof; and


 


(2)         in
case of any extension of time of payment or renewal of any Securities or any of such other obligations, that same will be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration
or otherwise.


 


Failing payment when due
of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantor will pay the same immediately.
The Guarantor agrees that this is a guarantee of payment and not a guarantee of collection.


 


(b)         The
Guarantor hereby agrees that its obligations hereunder are unconditional, irrespective of the validity, regularity or enforceability
of the Securities or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the
Securities with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce
the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. The
Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or
bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever
and covenant that this Guarantee will not be discharged except by complete performance of the obligations contained in the Securities
and this Indenture.


 


(c)         If
any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantor or any custodian, trustee,
liquidator or other similar official acting in relation to either the Company or the Guarantor, any amount paid by either to the
Trustee or such Holder, this Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect.


 


(d)              
The Guarantor agrees that it will not be entitled to any right of subrogation in relation to the Holders in respect of any obligations
guaranteed hereby until payment in full of all obligations guaranteed hereby. The Guarantor further agrees that, as between the
Guarantor, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed
hereby may be accelerated as provided in Article 6 hereof for the purposes of this Guarantee, notwithstanding any stay, injunction
or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any
declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations (whether or not due and payable)
will forthwith become due and payable by the Guarantor for the purpose of this Guarantee.


 






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SECTION 11.02.         
Limitation on Guarantor Liability.


 


The Guarantor, and by its acceptance of Securities,
each Holder, hereby confirms that it is the intention of all such parties that the Guarantee not constitute a fraudulent transfer
or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any
similar federal or state law to the extent applicable to any Guarantee. To effectuate the foregoing intention, the Trustee, the
Holders and the Guarantor hereby irrevocably agree that the obligations of such Guarantor will be limited to the maximum amount
that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of the Guarantor that are
relevant under such laws.


  


SECTION 11.03.         Execution
and Delivery of Guarantee.


 


To evidence its Guarantee set forth in Section
11.01 hereof, the Guarantor hereby agrees that a notation of such Note Guarantee will be endorsed by an Officer of the Guarantor
on each Security authenticated and delivered by the Trustee and that this Indenture will be executed on behalf of the Guarantor
by one of its Officers.


 


The Guarantor hereby agrees that its Guarantee
set forth in Section 11.01 hereof will remain in full force and effect notwithstanding any failure to endorse on the Securities
a notation of such Guarantee.


 


If an Officer whose signature
is on this Indenture or on the Guarantee no longer holds that office at the time the Trustee authenticates the Securities on which
a Guarantee is endorsed, the Guarantee will be valid nevertheless.


 


The delivery of any Securities
by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Guarantee set forth in this Indenture
on behalf of the Guarantor.


 


ARTICLE 12


 


MISCELLANEOUS


 


SECTION 12.01.         Trust
Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA Section
318(c), the imposed duties shall control.


 


SECTION 12.02.         Notices.
Any notice or communication by the Company, any Guarantor or the Trustee shall be in writing and delivered in person or mailed
by first class mail (registered or certified, return receipt requested) or by overnight air courier guaranteeing next day delivery,
as follows:


 


	 	If to the Company or the Guarantor:
	 	 
	 	Icahn Enterprises L.P.
	 	Icahn Enterprises Finance Corp.
	 	767 Fifth Avenue, Suite 4700
	 	New York, New York 10153
	 	Attention:  Jesse Lynn,  General Counsel
	 	 
	 	With a copy to:
	 	 
	 	Proskauer Rose LLP
	 	Eleven Times Square
	 	New York, NY 10036-8299
	 	Attention:  Julie M. Allen, Esq.




 






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	 	If to the Trustee:
	 	 
	 	Wilmington Trust, National Association
	 	50 South Sixth Street, Suite 1290
	 	Minneapolis, MN 55402
	 	Telecopier No.:  (612) 217-5651
	 	Attention:  Corporate Trust Administration
	 	 
	 	With a copy to:
	 	 
	 	Curtis, Mallet-Prevost, Colt & Mosle LLP
	 	101 Park Avenue
	 	Suite 3500
	 	New York, New York 10178
	 	Facsimile No.:  (212) 697-1559
	 	Attention:  Susana M. Namnum, Esq.
	 	    Steven J. Reisman, Esq.




 


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


 


All notices and communications
(other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if personally delivered;
five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by
facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day
delivery.


 


Any notice or communication
to a Holder shall be sent electronically or mailed by first class mail,
certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown
on the register kept by the Registrar.


 


Failure to mail or deliver
a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a
notice or communication is mailed or delivered in the manner provided above within the time prescribed, it is duly given, whether
or not the addressee receives it.


 


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


 


SECTION 12.03.          Communication
by Holders of Securities with Other Holders of Securities. Holders may communicate pursuant to TIA Section 312(b) with other
Holders with respect to their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and anyone
else shall have the protection of TIA Section 312(c).


 


SECTION 12.04.         Certificate
and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under
this Indenture, the Company shall furnish to the Trustee:


 


(a)         an
Officers' Certificate in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signers,
all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied;
and


 


(b)         an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all
such conditions precedent and covenants have been satisfied.


 


SECTION 12.05.         Statements
Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include:


 


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


 






    	 	36	 



     


    

 


(b)         a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;


 


(c)         a
statement that, in the opinion of such person, he or she has made such examination or investigation as is necessary to enable him
to express an informed opinion as to whether or not such covenant or condition has been satisfied; and


 


(d)         a
statement as to whether or not, in the opinion of such person, such condition or covenant has been satisfied.


 


SECTION 12.06.         Rules
by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by or at a meeting of Holders. The
Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions.


 


SECTION 12.07.         No
Personal Liability of Directors, Officers, Employees and Stockholders. No director, officer, employee, incorporator or stockholder
of the Company as such shall have any liability for any obligations of the Company under the Securities or this Indenture or for
any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting
a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities.


 


SECTION 12.08.         
GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE SECURITIES
AND THE GUARANTEE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE
LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.


 


SECTION 12.09.         No
Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture, loan or debt agreement
of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret
this Indenture.


 


SECTION 11.10.         Successors.
All agreements of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in
this Indenture shall bind its successors.


 


SECTION 12.11.         Severability.
In case any provision in this Indenture or in the Securities or the Guarantee shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.


  


SECTION 12.12.         
Counterpart Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement.


 


SECTION 12.13.         Table
of Contents, Headings, Etc. The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and shall in
no way modify or restrict any of the terms or provisions hereof. 


 


[Signatures on following page]


 




    	 	37	 



     


    

 


SIGNATURES


 


Dated as of _______


 


	 	ICAHN ENTERPRISES L.P.
	 	 
	 	By:  	Icahn Enterprises G.P., Inc.,
	 	 	its general partner
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	ICAHN ENTERPRISES FINANCE CORP.
	 	 
	 	By: 	 
	 	 	Name: 
	 	 	Title:
	 	 	 
	 	WILMINGTON TRUST, NATIONAL ASSOCIATION
	 	 
	 	By:	 
	 	 	Name:  
	 	 	Title: