EX-4.22



 Exhibit 4.22 
 FIFTEENTH SUPPLEMENTAL INDENTURE 
 THIS FIFTEENTH SUPPLEMENTAL INDENTURE is
entered into as of November 27, 2012, by and between DDR Corp., an Ohio corporation (the “Company”), and U.S. Bank National Association (the “Trustee”), a national banking association organized and existing under the laws of
the United States, as successor trustee to U.S. Bank Trust National Association, as successor to National City Bank. 
 WHEREAS,
the Company and the Trustee entered into the Indenture dated as of May 1, 1994 (as supplemented by a First Supplemental Indenture dated as of May 10, 1995, by a Second Supplemental Indenture dated as of July 18, 2003, by a Third
Supplemental Indenture dated as of January 23, 2004, by a Fourth Supplemental Indenture dated as of April 22, 2004, by a Fifth Supplemental Indenture dated as of April 28, 2005, by a Sixth Supplemental Indenture dated as of
October 7, 2005, by a Seventh Supplemental Indenture dated as of August 28, 2006, by an Eighth Supplemental Indenture dated as of March 13, 2007, by a Ninth Supplemental Indenture dated as of September 30, 2009, by a Tenth
Supplemental Indenture dated as of March 19, 2010, by an Eleventh Supplemental Indenture dated as of August 12, 2010, by a Twelfth Supplemental Indenture dated as of November 5, 2010, by a Thirteenth Supplemental Indenture dated as of
March 7, 2011 and by a Fourteenth Supplemental Indenture dated as of June 22, 2012 (the “Fourteenth Supplemental Indenture”), the “Indenture”), relating to the Company’s senior debt securities; 

WHEREAS, the Company previously issued $300,000,000 initial aggregate principal amount of the Company’s 4.625% Notes due 2022 (the
“Notes”), the specific terms and form of which were established by the Fourteenth Supplemental Indenture; 
 WHEREAS,
Section 301 of the Indenture provides that all Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened, without the consent of the Holders, for issuances of additional Securities
of such series; 
 WHEREAS, Section 4 of the Fourteenth Supplemental Indenture provides that the Company may, without the
consent of the Holders, create and issue additional Securities ranking pari passu with the Notes in all respects and so that such additional Notes shall be consolidated and form a single series having the same terms as to status, redemption or
otherwise as the Notes initially issued; 
 WHEREAS, the Company now desires to issue an additional $150,000,000 aggregate
principal amount of the Notes and has made a request to the Trustee that the Trustee join with it, in accordance with Section 901 of the Indenture, in the execution of this Fifteenth Supplemental Indenture to include such additional aggregate
principal amount of the Notes in the definition of Designated Securities such that the covenant in Section 1015 of the Indenture will inure to their benefit; and 
 WHEREAS, the Company and the Trustee are authorized to enter into this Fifteenth Supplemental Indenture. 







 NOW, THEREFORE, the Company and the Trustee agree as follows: 

Section 1. Relation to Indenture. This Fifteenth Supplemental Indenture supplements the Indenture and shall be
a part and subject to all the terms thereof. Except as supplemented hereby, the Indenture and the Securities issued thereunder shall continue in full force and effect. 

Section 2. Capitalized Terms. Capitalized terms used herein and not otherwise defined herein are used as
defined in the Indenture. 
 Section 3. Definitions. 

The definition of “Designated Securities” is hereby amended in its entirety as follows: 

“Designated Securities” means the Company’s $300,000,000 principal amount of 4.625% Notes Due 2010, the
Company’s $275,000,000 principal amount of 3.875% Notes Due 2009, the Company’s $250,000,000 principal amount of 5.25% Notes Due 2011, the Company’s $200,000,000 principal amount of 5.0% Notes Due 2010, the Company’s $200,000,000
principal amount of 5.5% Notes Due 2015, the Company’s $350,000,000 principal amount of 5.375% Notes Due 2012, the Company’s $300,000,000 principal amount of 9.625% Notes Due 2016, the Company’s $300,000,000 principal amount of 7.50%
Notes Due 2017, the Company’s $300,000,000 principal amount of 7.875% Notes Due 2020, the Company’s $300,000,000 principal amount of 4.75% Notes due 2018 and the Company’s $450,000,000 principal amount of 4.625% Notes due 2022.

 Section 4. Aggregate Principal Amount. 

The aggregate principal amount of the Notes that may be authenticated and delivered under the Indenture, as amended
hereby, shall be $450,000,000. The Company may, without the consent of the Holders, create and issue additional Securities ranking pari passu with the Notes in all respects and so that such additional Notes shall be consolidated and form a single
series having the same terms as to status, redemption or otherwise as the Notes previously issued. 

Section 5. Counterparts. This Fifteenth Supplemental Indenture may be executed in counterparts, each of which
shall be deemed an original, but all of which shall together constitute one and the same instrument. 

Section 6. Governing Law. THIS FIFTEENTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF OHIO (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF). 

  
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 Section 7. Concerning the Trustee. The Trustee shall not be
responsible for any recital herein (other than the sixth recital as it appears as it applies to the Trustee) as such recitals shall be taken as statements of the Company, or the validity of the execution by the Company of this Fifteenth Supplemental
Indenture. The Trustee makes no representations as to the validity or sufficiency of this Fifteenth Supplemental Indenture. 

[Signatures follow.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Fifteenth Supplemental Indenture to
be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 
  

							
	Attest:	 		 	DDR CORP.
				
	 /s/ David E. Weiss
	 		 	By:	 	 /s/ David J. Oakes

	Name: David E. Weiss	 		 		 	Name: David J. Oakes
	Title: Executive Vice President,	 		 		 	Title: Senior Executive Vice President and
	          General Counsel and Secretary	 		 		 	          Chief Financial Officer
			
	Attest:	 		 	 U.S. BANK NATIONAL ASSOCIATION,
 as Trustee

				
	 /s/ Elizabeth C. Hammer
	 		 	By:	 	 /s/ Michael M. Hopkins

	Name: Elizabeth C. Hammer	 		 		 	Name: Michael M. Hopkins
	Title: Vice President	 		 		 	Title: Vice President

 [Fifteenth Supplemental Indenture] 

  
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