Document:

Second Amendment to Third Amended and Restated Credit Agreement

 Exhibit 10.1.3 
  
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
  
 This Second Amendment to Third Amended and Restated Credit Agreement (this “Second Amendment”) is entered into as of the 1st day of October, 2003 (the “Effective Date”),
by and among Patina Oil & Gas Corporation, a Delaware corporation (“Borrower”), Bank One, NA, as Administrative Agent (“Administrative Agent”), and the financial institutions parties hereto as
Banks (“Banks”). 
  
 W I T N E S S E
T H 
  
 WHEREAS, Borrower, Administrative Agent, the other
agents a party thereto and Banks are parties to that certain Third Amended and Restated Credit Agreement dated as of January 28, 2003, as amended by that certain First Amendment to Third Amended and Restated Credit Agreement dated as of May 1, 2003
(as amended, the “Credit Agreement”) (unless otherwise defined herein, all terms used herein with their initial letter capitalized shall have the meaning given such terms in the Credit Agreement); and 
  
 WHEREAS, pursuant to the Credit Agreement, Banks have made a revolving credit
loan to Borrower and provided certain other credit accommodations to Borrower; and 
  
 WHEREAS, Borrower has requested that Banks (i) amend certain terms of the Credit Agreement in certain respects and (ii) consent to certain transactions more particularly described herein, and subject to and upon the
terms and conditions set forth herein, Banks have agreed to Borrower’s requests; and 
  
 WHEREAS, Borrower desires to increase the Total Commitment to $500,000,000; and 
  
 WHEREAS, the parties desire to affirm and establish a Borrowing Base of $500,000,000 to be effective as of October 1, 2003 and continuing until the first
Determination thereafter. 
  
 NOW THEREFORE, for and in
consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, Borrower, Administrative Agent and Banks hereby agree as
follows: 
  
 Section 1. Amendments. In reliance on the
representations, warranties, covenants and agreements contained in this Second Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 5 hereof, the Credit Agreement shall be amended effective as of the
Effective Date in the manner provided in this Section 1. 
  
 1.1 Additional Definitions. Section 2.1 of the Credit Agreement shall be amended to add thereto in alphabetical order the definitions of “CEI,” “CEP,” “Cordillera
Acquisition,” “Cordillera Acquisition Agreement,” and “Second Amendment” which shall read in full as follows: 
  
 “CEI” means (a) prior to the CEI Name Change (as defined in the Second Amendment),
Cordillera Energy, Inc., a Colorado 

 corporation, and (b) from and after the CEI Name Change, Patina San Juan, Incorporated, a Colorado
corporation, which, from and after the date of the Cordillera Acquisition, shall be a Restricted Subsidiary. 
  
 “CEP” means Cordillera Energy Partners, LLC, a Texas limited liability company. 
  
 “Cordillera Acquisition” means the
acquisition by Borrower from CEP, on or prior to October 1, 2003, of (i) 100% of the Equity of CEI and (ii) the other Assets (as defined in the Cordillera Acquisition Agreement). 
  
 “Cordillera Acquisition Agreement” means that certain Purchase and Sale Agreement,
and any amendment or modification thereto, dated as of August 25, 2003 between Borrower, as purchaser thereunder, and CEP, as seller thereunder, pursuant to which the Cordillera Acquisition is consummated. 
  
 “Second Amendment” means that
certain Second Amendment to Third Amended and Restated Credit Agreement dated as of October 1, 2003 among Borrower, Administrative Agent and Banks. 
  
 1.2 Amendment to Definition. The definition of “Loan Papers” contained in Section 2.1 of the Credit Agreement shall
be amended to read in full as follows: 
  
 “Loan Papers” means this Agreement, the Notes, the First Amendment, the Second Amendment, each Restricted Subsidiary Guarantee now or hereafter executed, each Restricted Subsidiary Pledge Agreement now or hereafter
executed, the Existing Mortgages (as amended by the Assignments and Amendments to Mortgages), all Mortgages now or at any time hereafter delivered pursuant to Section 6.1, the Assignments and Amendments to Mortgages, any and all other
assignments and/or amendments to Mortgages, and all other certificates, documents or instruments delivered in connection with this Agreement, as the foregoing may be amended from time to time. 
  
 1.3 Amendment to Acquisitions Covenant. Section 10.13 of the
Credit Agreement shall be amended to read in full as follows: 
  
 “SECTION 10.13 Acquisitions. Other than the Cordillera Acquisition, Borrower will not, nor will Borrower permit any of its Restricted Subsidiaries to, acquire, in a single transaction or a series of
related transactions, all or substantially all of the assets or capital stock (or other outstanding equity interests of any Person) or all or substantially all of the assets comprising a 
  

 2 

 division of any Person; provided, that nothing contained in this Section 10.13 shall
prohibit Borrower or any Restricted Subsidiary of Borrower from making any acquisition of assets consisting of oil and gas properties or any other acquisition which is also a Permitted Investment.” 
  
 1.4 Revised Schedules. Schedule 2.1 and Schedule
8.15 attached hereto shall modify and replace in their entirety the existing Schedule 2.1 and Schedule 8.15 to the Credit Agreement. 
  
 Section 2. Consent to Cordillera Acquisition. Borrower has requested that Banks consent to the consummation of the Cordillera Acquisition (as such term is
defined in the Credit Agreement as amended by this Second Amendment). In reliance on the representations, warranties, covenants and agreements contained in the Credit Agreement and this Second Amendment, and subject to the conditions precedent set
forth in Section 5 hereof, Banks hereby consent to the consummation of the Cordillera Acquisition pursuant to, and in accordance with, the terms of the Cordillera Acquisition Agreement (a true, correct and complete copy of which Borrower has
provided to Administrative Agent). The consent contained in this Section 2 is limited solely to the consummation of the Cordillera Acquisition. Nothing contained herein shall be deemed (a) a consent to any action other than the consummation
of the Cordillera Acquisition, or (b) a waiver of any provision of the Credit Agreement or any other Loan Papers. In addition, such consent is a limited, one-time consent, and nothing contained herein shall obligate Banks to grant any additional or
future consent with respect to, or in connection with, any provision of any Loan Paper. 
  
 Section 3. Consent to Name Change of CEI. Borrower has advised Administrative Agent and Banks that CEI intends to change its name to Patina San Juan, Incorporated (the “CEI Name Change”) on or prior to
October 31, 2003 (the actual date on which the CEI Name Change occurs and is effectuated is hereinafter referred to as the “CEI Name Change Date”). The CEI Name Change will violate certain provisions of the Credit Agreement
and other Loan Papers, and Borrower has requested that Administrative Agent and Banks consent to the CEI Name Change and waive any inconsistent provisions of the Credit Agreement or other Loan Papers with respect thereto. Administrative Agent and
Banks hereby consent to the CEI Name Change and waive any inconsistent provisions of the Credit Agreement and other Loan Papers so long as the CEI Name Change occurs on or before October 31, 2003. In addition, Borrower hereby covenants that, within
ten (10) Domestic Business Days after the CEI Name Change Date, it will deliver to Administrative Agent (a) evidence reasonably satisfactory to Administrative Agent, including all necessary filings filed with appropriate governmental authorities,
evidencing that the CEI Name Change has occurred, and (b) certificates evidencing one-hundred percent (100%) of the issued and outstanding capital stock of Patina San Juan, Incorporated of every class (which certificates shall be accompanied by duly
executed blank stock powers). 
  
 Section 4. Borrowing Base, Total
Commitment and Required Reserve Value. Effective as of October 1, 2003, (a) the Borrowing Base shall be affirmed at $500,000,000 and shall remain at $500,000,000 until the next Determination thereafter, (b) the Total Commitment shall be
increased to $500,000,000, and (c) the Required Reserve Value shall be affirmed at $625,000,000. Borrower and Banks agree that the Determination provided for in this Section 4 
  

 3 

 (1) shall be in lieu of the Periodic Determination scheduled to occur on November 1, 2003, such that the first Periodic
Determination following the Determination provided for in this Section 4 shall occur on May 1, 2004, and (2) shall not be construed or deemed to be a Special Determination for purposes of Section 5.3 of the Credit Agreement. 
  
 Section 5. Conditions Precedent. The amendments contained in Section 1
hereof, the consent contained in Section 2 hereof, and the consent and waiver contained in Section 3 hereof, are subject to the satisfaction of each of the following conditions precedent on or before the Effective Date (and, with
respect to the CEI Name Change, the conditions set forth in Section 3 hereof on or before the dates set forth therein, as applicable): 
  
 5.1 Closing Deliveries. Administrative Agent shall have received each of the following documents, instruments and agreements, each of which
shall be in form and substance and executed in such counterparts as shall be acceptable to Administrative Agent and each Bank: 
  
 (a) a Note, payable to the order of each Bank whose Commitment Percentage is changed in connection with the Increase in the Total Commitment described in
Section 4(b) of this Second Amendment, in the amount of such Bank’s Commitment as reflected on Schedule 2.1 hereto; 
  
 (b) a Restricted Subsidiary Guarantee duly executed by CEI; 
  
 (c) a Restricted Subsidiary Pledge Agreement duly executed by Borrower together with certificates evidencing one hundred percent (100%) of the issued and
outstanding capital stock of CEI of every class (which certificates shall be accompanied by duly executed blank stock powers); 
  
 (d) Administrative Agent shall have received such Mortgages, in form and substance acceptable to Administrative Agent, duly executed by Borrower and CEI
(as applicable), and all financing statements, necessary or appropriate to grant, evidence and perfect first priority Liens in favor of Administrative Agent, for the ratable benefit of Banks, on the Assets (as defined in the Cordillera Acquisition
Agreement, and hereinafter defined as the “Cordillera Assets”) to secure the Obligations; 
  
 (e) Administrative Agent shall have received fully executed Amendments for Increased or New Commitments increasing the Total Commitment as set forth in
Section 4(b) hereof, duly executed by Borrower, Administrative Agent and each Bank whose Commitment is increased in connection with such Increase of the Total Commitment, which such revised Commitments and Total Commitment are set forth on
Schedule 2.1 hereto; 
  
 (f) opinions of (1) Roberts &
Strother, P.C., special New Mexico counsel to Administrative Agent, and (2) Gable & Gotwals, special Oklahoma counsel to Administrative Agent, each favorably opining to such matters as Administrative Agent and Banks shall request;

  
 (g) evidence satisfactory to Administrative Agent that the
Liens in favor of Bank One, NA, as administrative agent (“CEP Agent”) under that certain Credit Agreement dated as of November 30, 2000 (as amended, the “CEP Credit Agreement”) among CEP 
  

 4 

 Agent, CEP, as borrower thereunder, and the financial institutions party thereto, encumbering the Cordillera Assets have
been released; 
  
 (h) such UCC-11 search reports as
Administrative Agent shall require, prepared as of a date not more than twenty (20) days prior to the Effective Date, conducted in such jurisdictions and reflecting such names as Administrative Agent shall request; 
  
 (i) such resolutions, certificates and other documents relating to the
existence of CEI, the corporate authority for the execution, delivery and performance of the documents described in subclauses (a), (b), (c) and (d) above, and certain other matters relevant thereto, in form and substance satisfactory to
Administrative Agent; and 
  
 (j) a true, correct and complete
copy of the Cordillera Acquisition Agreement, together with all material agreements, certificates, documents and instruments executed and delivered by, between or among Borrower, CEP and/or CEI pursuant to the Cordillera Acquisition Agreement or in
connection with the Cordillera Acquisition. 
  
 5.2 Title
Review. As a condition precedent to the effectiveness of this Second Amendment, Administrative Agent or its counsel shall have completed a review satisfactory to Administrative Agent of title to the oil and gas properties (a) acquired by
Borrower pursuant to the Cordillera Acquisition and (b) owned by CEI, and such review shall not have revealed any condition or circumstance which would reflect that the representations and warranties contained in Section 8.9 of the Credit Agreement
are inaccurate in any respect. 
  
 5.3 Cordillera
Acquisition. Subject only to the disbursement and application of a Borrowing, the Cordillera Acquisition shall have occurred (or Administrative Agent shall be satisfied that such transaction will occur simultaneously therewith). 

 
 5.4 No Default. After giving effect to the consent contained
in Section 2 hereof, no Default or Event of Default shall have occurred which is continuing. 
  
 5.5 Other Documents. Administrative Agent shall have been provided with such other documents, instruments and agreements, and Borrower shall
have taken such actions, as Administrative Agent may reasonably require in connection with this Second Amendment, the Cordillera Acquisition Agreement, the Cordillera Acquisition and the transactions contemplated hereby. 
  
 5.6 Fees. Borrower shall have paid to (a) Administrative Agent
for the benefit of each Bank whose Commitment is increased pursuant to this Second Amendment a fee in the amount of $500,000.00, which fee shall be distributed ratably among such Banks based on the percentage of the Increase that is allocated to
each such Bank’s Commitment, and (b) Administrative Agent and its Affiliates such other fees as Borrower shall be required to pay to Administrative Agent and its Affiliates pursuant to any separate agreement between Borrower and Administrative
Agent or any of its Affiliates in connection with the Credit Agreement, this Second Amendment and the transactions contemplated hereby. 
  

 5 

 Section 6. Representations and Warranties of Borrower. To induce Banks and Administrative Agent to enter
into this Second Amendment, Borrower hereby represents and warrants to Banks and Administrative Agent as follows: 
  
 6.1 Reaffirm Existing Representations and Warranties. Each representation and warranty of Borrower contained in the Credit Agreement and the
other Loan Papers is true and correct on the date hereof and will be true and correct after giving effect to the amendments and consent set forth herein. 
  
 6.2 Due Authorization; No Conflict. The execution, delivery and performance by Borrower of this Second Amendment are within Borrower’s
corporate powers, have been duly authorized by all necessary action, require no action by or in respect of, or filing with, any governmental body, agency or official and do not violate or constitute a default under any provision of applicable law or
any Material Agreement binding upon Borrower or the Subsidiaries of Borrower or result in the creation or imposition of any Lien upon any of the assets of Borrower or the Subsidiaries of Borrower except Permitted Encumbrances. 
  
 6.3 Validity and Enforceability. This Second Amendment
constitutes the valid and binding obligation of Borrower enforceable in accordance with its terms, except as (i) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (ii)
the availability of equitable remedies may be limited by equitable principles of general application. 
  
 6.4 No Default or Event of Default. After giving effect to the amendments and consent set forth herein, no Default or Event of Default has
occurred which is continuing. 
  
 6.5 Minimum Value.
After the consummation of the Cordillera Acquisition and after giving effect to the amendments set forth herein, Borrower will be in compliance with Section 3.10(b)(vi) of the Credit Agreement. 
  
 Section 7. Miscellaneous. 
  
 7.1 Restricted Subsidiary. Borrower hereby designates CEI as a
Restricted Subsidiary. 
  
 7.2 Reaffirmation of Loan
Papers. Any and all of the terms and provisions of the Credit Agreement and the Loan Papers shall, except as amended and modified hereby, remain in full force and effect. The amendments contemplated hereby shall not limit or impair any Liens
securing the Obligations, each of which are hereby ratified, affirmed and extended to secure the Obligations as they may be increased pursuant hereto. 
  
 7.3 Parties in Interest. All of the terms and provisions of this Second Amendment shall bind and inure to the benefit of the parties hereto
and their respective successors and assigns. 
  
 7.4 Legal
Expenses. Borrower hereby agrees to pay on demand all reasonable fees and expenses of counsel to Administrative Agent incurred by Administrative Agent in 
  

 6 

 connection with the preparation, negotiation and execution of this Second Amendment and all related documents.

  
 7.5 Counterparts. This Second Amendment may be
executed in counterparts, and all parties need not execute the same counterpart; however, no party shall be bound by this Second Amendment until Borrower and Banks have executed a counterpart. Facsimiles shall be effective as originals. 

 
 7.6 Complete Agreement. THIS SECOND AMENDMENT, THE CREDIT
AGREEMENT AND THE OTHER LOAN PAPERS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE
PARTIES. 
  
 7.7 Headings. The headings, captions
and arrangements used in this Second Amendment are, unless specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Second Amendment, nor affect the meaning thereof. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed
by their respective authorized officers on the date and year first above written. 
  
 [SIGNATURE PAGES FOLLOW] 
  
  

 7 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 BORROWER:
  
 PATINA OIL & GAS CORPORATION, a
 Delaware corporation

		
	By:	 	/s/    DAVID J. KORNDER         
	 	

	 	 	 David J. Kornder,
 Executive Vice President and
 Chief Financial Officer

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 ADMINISTRATIVE AGENT:
  
 BANK ONE, NA, as Administrative Agent

		
	By:	 	/s/    J. SCOTT FOWLER        
	 	

	 	 	 J. Scott Fowler,
 Director, Capital Markets

  

	 BANKS:
  
 BANK ONE, NA

		
	By:	 	/s/    J. SCOTT FOWLER         
	 	

	 	 	 J. Scott Fowler,
 Director, Capital Markets

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 WACHOVIA BANK, NATIONAL ASSOCIATION

		
	By:	 	/s/    PHILIP TRINDER        
	 	

	 Name:
	 	Philip Trinder
	 Title:
	 	Vice President

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 WELLS FARGO BANK, N.A.

		
	By:	 	/s/    TODD STORNETTA
	 	

	 Name:
	 	Todd Stornetta
	 Title:
	 	Vice President

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 BANK OF AMERICA, N.A.

		
	 By:
	 	/s/    RICHARD L. STEIN
	 	

	 Name:
	 	Richard L. Stein
	 Title:
	 	Principal

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 CREDIT LYONNAIS NEW YORK
BRANCH

		
	 By:
	 	/s/    PHILIPPE SOUSTRA
	 	

	 Name:
	 	Philippe Soustra
	 Title:
	 	Executive Vice President

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 COMERICA BANK

		
	 By:
	 	/s/    THOMAS G. RAJAN
	 	

	 Name:
	 	Thomas G. Rajan
	 Title:
	 	Vice President – Texas Division

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	 BANK OF OKLAHOMA, N.A.

		
	 By:
	 	/s/    MICHAEL M. LOGAN
	 	

	 Name:
	 	Michael M. Logan
	 Title:
	 	Senior Vice President

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  
  

	BANK OF SCOTLAND
		
	By:	 	/s/    JOSEPH FRATUS      
	 	

	 Name:
	 	Joseph Fratus
	 Title:
	 	First Vice President

  
  
  
  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	BNP PARIBAS
		
	 By:
	 	/s/    BETSY JOCHER        
	 	

	 Name:
	 	Betsy Jocher
	 Title:
	 	Vice President
		
	 By:
	 	 /s/    POLLY
SCHOTT      

	 Name:
	 	Polly Schott
	 Title:
	 	Vice President

  

 [Signature Page] 

 SIGNATURE PAGE TO 
 SECOND AMENDMENT TO THIRD AMENDED 
 AND RESTATED CREDIT AGREEMENT 
 BY AND AMONG PATINA OIL & GAS CORPORATION, 
 AS BORROWER, BANK ONE, NA, AS ADMINISTRATIVE AGENT, 
 AND BANKS PARTY THERETO 
  

	COMPASS BANK
		
	 By:
	 	/s/    JOHN M. FALBO        
	 	

	 Name:
	 	John M. Falbo
	 Title:
	 	Senior Vice President

  

 [Signature Page] 

 SCHEDULE 2.1 
  
 FINANCIAL INSTITUTIONS 
  

	 Banks

	  	Total Commitment
Amount

	  	Commitment
Percentage

	 
	 Bank One, NA
	  	$	59,000,000	  	11.8000000000	%
	 Wachovia Bank, National Association
	  	$	59,000,000	  	11.8000000000	%
	 Wells Fargo Bank, N.A.
	  	$	59,000,000	  	11.8000000000	%
	 Bank of America, N.A.
	  	$	59,000,000	  	11.8000000000	%
	 Credit Lyonnais New York Branch
	  	$	59,000,000	  	11.8000000000	%
	 Comerica Bank
	  	$	50,000,000	  	10.0000000000	%
	 Bank of Scotland
	  	$	50,000,000	  	10.0000000000	%
	 BNP Paribas
	  	$	50,000,000	  	10.0000000000	%
	 Bank of Oklahoma, N.A.
	  	$	30,000,000	  	6.0000000000	%
	 Compass Bank
	  	$	25,000,000	  	5.0000000000	%
	 Totals:
	  	$	500,000,000	  	100	%

  

	 Banks

	 	 Domestic Lending Office

	 	 Eurodollar Lending Office

	 	 Address for Notice

	 Bank One, NA
	 	 One Bank One Plaza
 Mail Code
IL1-0634
 Chicago, Illinois 60670
 Attn: Ken Fecko
 Tel No. (312) 732-4616
 Fax No. (312) 732-4840
	 	 One Bank One Plaza
 Mail Code
IL1-0634
 Chicago, Illinois 60670
 Attn: Ken Fecko
 Tel No. (312) 732-4616
 Fax No. (312) 732-4840
	 	 1717 Main Street
 4th Floor,
 Mail Code TX1-2448
 Dallas, Texas 75201
 Attn: J. Scott Fowler
 Tel No. (214) 290-2162
 Fax No. (214) 290-2332

				
	 Wachovia Bank, National Association
	 	 1001 Fannin
 Suite 2255
 Houston, Texas 77002
 Attn: Debbie Blank
 Tel. No. (713) 346-2727
 Fax No. (713) 650-6354
	 	 1001 Fannin
 Suite 2255
 Houston, Texas 77002
 Attn: Debbie Blank
 Tel. No. (713) 346-2727
 Fax No. (713) 650-6354
	 	 1001 Fannin
 Suite 2255
 Houston, Texas 77002
 Attn: Philip Trinder
 Tel. No. (713) 346-2707
 Fax No. (713) 650-6354

				
	 Wells Fargo Bank, N.A.
	 	 1740 Broadway
 MAC# C7300-034

Denver, Colorado 80274
 Attn: Bret Eubank
 Tel. No. (303) 863-5941
 Fax No. (303) 863-2729
	 	 1740 Broadway
 MAC# C7300-034
 Denver, Colorado 80274
 Attn: Bret Eubank
 Tel. No. (303) 863-5941
 Fax No. (303) 863-2729
	 	 1740 Broadway
 MAC# C7300-034
 Denver, Colorado 80274
 Attn: Todd Stornetta
 Tel. No. (303) 863-5653
 Fax No. (303) 863-5196

				
	 Bank of America, N.A.
	 	 901 Main Street
 14th Floor
 Dallas, Texas 75202
 Attn: Karen Dumond
 Tel. No. (214) 209-0539
 Fax No. (214) 290-9445
	 	 901 Main Street 14th Floor
 Dallas, Texas
75202
 Attn: Karen Dumond Tel. No. (214) 209-0539 Fax No. (214) 290-9445
	 	 700 Louisiana Street
 8th Floor

Houston, Texas 77002
 Attn: Richard Stein
 Tel. No. (713) 247-7258
 Fax No. (713) 247-7288

				
	 Credit Lyonnais New York Branch
	 	 1301 Avenue of the Americas New York, New York 10019 Attn: David Gener
 Tel. No. (212) 261-7747
 Fax No. (917) 849-5440
	 	 1301 Avenue of the Americas New York, New York 10019 Attn: David Gener
 Tel. No. (212) 261-7747
 Fax No. (917) 849-5440
	 	 1000 Louisiana
 Suite 5360
 Houston, Texas 77002
 Attn: John Grandstaff
 Tel. No. (713) 890-8617
 Fax No. (713) 890-8668

  

 S-2.1-1 

				
	 Comerica Bank
	 	 39200 West 6 Mile Road Lavonia, Michigan 48152 Attn: Anna Cheney
 Tel. No. (734) 632-3052
 Fax No. (734) 632-2840
	 	 39200 West 6 Mile Road Lavonia, Michigan 48152
 Attn: Anna Cheney
 Tel. No. (734) 632-3052
 Fax No.
(734) 632-2840
	 	 1601 Elm Street
 2nd Floor
 MC 6593
 Dallas, Texas 75201
 Attn: Thomas G. Rajan
 Tel. No. (214) 969-6565
 Fax No. (214) 969-6561

				
	 Bank of Scotland
	 	 565 Fifth Avenue
 5th Floor
 New York, New York 10017 Attn: Karen Workman
 Tel. No. (212)
450-0800
 Fax No. (212) 557-9460
	 	 565 Fifth Avenue
 5th Floor
 New York, New York 10017 Attn: Karen Workman
 Tel. No. (212)
450-0800
 Fax No. (212) 557-9460
	 	 1021 Main Street
 Suite 1370
 Houston, Texas 77002
 Attn: Richard Butler
 Tel. No. (713) 650-0609
 Fax No. (713) 651-9714

				
	 BNP Paribas
	 	 919 Third Avenue
 New York, New York 10022
Attn: Peter Medina
 Tel. No. (212) 471-6631
 Fax No. (212)
841-2683
	 	 919 Third Avenue
 New York, New York 10022
Attn: Peter Medina
 Tel. No. (212) 471-6631
 Fax No. (212)
841-2683
	 	 1200 Smith Street
 Suite 3100
 Houston, Texas 77002
 Attn: David Dodd
 Tel. No. (713) 982-1100
 Fax No. (713) 659-6915

				
	 Bank of Oklahoma, N.A.
	 	 One Williams Center
 8th Floor

Tulsa, Oklahoma 74192
 Attn: Rhonda Swanson
 Tel. No. (918) 588-6351
 Fax No. (918) 588-6880
	 	 One Williams Center
 8th Floor

Tulsa, Oklahoma 74192
 Attn: Rhonda Swanson
 Tel. No. (918) 588-6351
 Fax No. (918) 588-6880
	 	 1625 Broadway
 Suite 1570
 Denver, Colorado 80202
 Attn: Michael M. Logan
 Tel. No. (303) 534-9462
 Fax No. (303) 534-9499

				
	 Compass Bank
	 	 24 Greenway Plaza
 Suite 1400A

Houston, Texas 77046
 Attn: Stacey R. Box
 Tel. No. (713) 993-8580
 Fax No. (713) 968-8292
	 	 24 Greenway Plaza
 Suite 1400A
 Houston, Texas 77046
 Attn: Stacey R. Box
 Tel. No. (713) 993-8580
 Fax No. (713) 968-8292
	 	 24 Greenway Plaza
 Suite 1400A
 Houston, Texas 77046
 Attn: John Falbo
 Tel. No. (713) 993-8511
 Fax No. (713) 968-8292

  
 Administrative Agent–Address: 
  
 Bank One, NA 1717 Main Street 
 4th Floor 
 Mail Code TX1-2448 
 Dallas, 
 Texas 75201 
 Attn: J. Scott Fowler 
 Tel No. (214) 290-2162 
 Fax No. (214) 290-2332 
  

 S-2.1-2 

 SCHEDULE 8.15 
  
 SUBSIDIARIES 
  

	 Name and State of
 Incorporation

	  	Qualified
Jurisdictions

	 	Issued and Outstanding
Stock and Holder

	  	Options,
Warrants, etc.

	 SOCO Wattenberg
 Corporation
 Delaware
	  	Colorado	 	1,000 Common
Patina Oil & Gas
Corporation	  	None
	 Patina BNR Corporation
 Delaware
	  	Oklahoma
Texas	 	1,000 Common
Patina Oil & Gas
Corporation	  	None
	 Patina Oklahoma Corp.
 Delaware
	  	Oklahoma
Texas	 	1,000 Common
Patina Oil & Gas
Corporation	  	None
	 Patina Well Services, Inc.
 Colorado
	  	Colorado	 	100 Patina Oil & Gas
Corporation	  	None
	 Cordillera Energy, Inc. (to
 be renamed Patina San Juan,
 Incorporated)
 Colorado
	  	 Colorado
[New Mexico]
 [Oklahoma]
	 	 _____
 Patina Oil &
Gas
Corporation
	  	None

  

 S-8.15-1Indenture dated as of July 9, 2003 between the Registrant & JPMorgan Chase Bank

 Exhibit 4(a) 
  
 EXECUTION COPY 
  
 INDENTURE dated as of July 9, 2003 (the “Indenture”), among CELULOSA ARAUCO Y CONSTITUCION S.A., a Chilean open stock
corporation (sociedad anónima abierta) (the “Company”), acting through its Panamanian agency, having its principal office at Avenida El Golf 150, 14th Floor, Santiago, Chile, and JPMORGAN CHASE BANK, a New York banking
corporation, as trustee hereunder (the “Trustee”). 
  
 Recitals of the Company 
  
 The Company has duly
authorized the execution and delivery of this Indenture to provide for the issuance of its debentures, notes, bonds or other evidences of indebtedness, to be issued in one or more fully registered series. 
  
 All things necessary to make this Indenture a valid agreement of the Company,
in accordance with its terms, have been done. 
  
 Agreements of the
Parties 
  
 To set forth or to provide for the establishment of
the terms and conditions upon which the Securities are and are to be authenticated, issued and delivered, and in consideration of the premises and the purchase of Securities by the Holders thereof, it is mutually covenanted and agreed as follows,
for the equal and proportionate benefit of all Holders of the Securities or of a series thereof, as the case may be: 
  
 ARTICLE ONE  
  
 Definitions and Other Provisions 
  
 of General
Application 

 SECTION 101. Definitions. For all purposes of this Indenture and of any indenture supplemental
hereto, except as otherwise expressly provided or unless the context otherwise requires: 
  
 (a) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

  
 (b) all other terms used herein that are
defined in the Trust Indenture Act or by Commission rule under the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 
  
 (c) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with
generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting
principles as are generally accepted in the Republic of Chile at the date of such computation; 
  
 (d) all references in this instrument to designated “Articles”, “Sections” and other subdivisions are to the
designated Articles, Sections and other subdivisions of this instrument. The words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision; and 
  
 (e) “including” and words of similar import shall be deemed to be followed by “without limitation”. 
  
 “Act”, when used with respect to any Securityholder, has the meaning specified in Section 104. 
  
 “Additional Amounts” has the meaning specified in Section 308.

  
 “Affiliate” means, with respect to any specified
Person, 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 
  

 2 

 
definition, “control”, when used with respect to any specified Person, means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. 
  
 “Attributable Value” means, as to any particular lease under which the Company or any Subsidiary is at any time liable as lessee and any date as
of which the amount thereof is to be determined, the total net obligations of the lessee for rental payments during the remaining term of the lease (including any period for which such lease has been extended or may, at the option of the lessor, be
extended) discounted from the respective due dates thereof to such date at a rate per annum equivalent to the interest rate inherent in such lease (as determined in good faith by the Company in accordance with generally accepted financial practice).

  
 “Authenticating Agent” means any Person authorized
by the Trustee to authenticate Securities under Section 614. 
  
 “Bankruptcy Law” has the meaning specified in Section 501. 
  
 “Board of Directors” means either the board of directors of the Company or any duly authorized committee of that board. 
  
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Board
of Directors, to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
  
 “Business Day” means each day which is neither a Saturday, Sunday or other day on which banking institutions in
the pertinent Place or Places of Payment are authorized or required by law or executive order to be closed. 
  
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time
after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
  

 3 

 “Company” means the Person named as the “Company” in the first paragraph of this
instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 
  
 “Consent” means a written consent signed in the name of the Company, by any two of the following: its Chairman of
the Board, Vice Chairman of the Board, President or a Vice President, its Treasurer, Assistant Treasurer, its Controller, Assistant Controller, its Secretary or Assistant Secretary, its principal financial officer, its principal accounting officer
or any other officer, employee or agent of the Company, duly authorized by a Board Resolution and delivered to the Trustee. 
  
 “Consolidated Net Tangible Assets” means the total of all assets (including revaluations thereof as a result of commercial appraisals,
price-level restatement or otherwise) appearing on a consolidated balance sheet of the Company and its Subsidiaries, net of all applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount,
and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the current liabilities of the Company and its Subsidiaries appearing on such balance sheet (excluding the current portion
of long term debt). 
  
 “Corporate Trust Office” means
the principal corporate trust office of the Trustee in New York, New York at which at any particular time its corporate trust business shall be principally administered, which office at the date hereof is located at 4 New York Plaza, 15th Floor, New
York, New York 10004, Attention: Institutional Trust Services; and such other offices as the Trustee may designate from time to time. 
  
 “Defaulted Interest” has the meaning specified in Section 307. 
  
 “Depositary” means, unless otherwise specified by the Company pursuant to either Section 204 or 301, with respect
to Securities of any series issuable or issued as a Global Security, The Depository Trust Company, New York, New York, or any successor thereto registered as a clearing agency under the Exchange Act or other applicable statute or regulation.

  

 4 

 “Event of Default” has the meaning specified in Section 501. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
  
 “Exchange Securities” has the meaning
specified in Appendix A. 
  
 “Global Security” means,
with respect to any series of Securities issued hereunder, 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 Request, 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 of the Outstanding Securities of such series or any portion thereof, in either case having the same terms, including the same original issue date, date or dates on which principal is due, and interest
rate or method of determining interest and shall include any Rule 144A Global Security and any Regulation S Global Security (each as defined in Appendix A). 
  
 “Holder”, when used with respect to any Security, means a Securityholder. 
  
 “Indebtedness” means, with respect to any Person (without duplication), (a) any liability of such Person (1) for
borrowed money or under any reimbursement obligation relating to a letter of credit, financial bond or similar instrument or agreement, (2) evidenced by a bond, note, debenture or similar instrument or agreement (including a purchase money
obligation) given in connection with the acquisition of any business, properties or assets of any kind (other than a trade payable or a current liability arising in the ordinary course of business), (3) for the payment of money relating to any
obligations under any capital lease of real or personal property or (4) for purposes of Section 1006 and 1007, under any agreement or instrument in respect of an interest rate or currency swap, exchange or hedging transaction or other financial
derivatives transaction; (b) any liability of others described in the preceding clause (a) that the Person has guaranteed or that is otherwise its legal 
  

 5 

 
liability; and (c) any amendment, supplement, modification, deferral, renewal, extension or refunding of any liability of the types referred to in clauses
(a) and (b) above. For the purpose of determining any particular amount of Indebtedness under this definition, guarantees of (or obligations with respect to letters of credit or financial bonds supporting) Indebtedness otherwise included in the
determination of such amount shall also not be included. 
  
 “Indenture” or “this Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable
provisions hereof and shall include the terms of particular series of Securities established as contemplated by Section 301. 
  
 “Independent”, when used with respect to any specified Person, means such a Person who (a) is in fact independent, (b) does not have any direct
financial interest or any material indirect financial interest in the Company or in any other obligor upon the Securities or in any Affiliate of the Company or of such other obligor, and (c) is not at the relevant time connected with the Company or
such other obligor or any Affiliate of the Company or of such other obligor, as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions. Whenever it is herein provided that any Independent
Person’s opinion or certificate shall be furnished to the Trustee, such Person shall be appointed by a Company Order, and such opinion or certificate shall state that the signer has read this definition and that the signer is Independent within
the meaning hereof. 
  
 “Interest”, when used with
respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
  
 “Interest Payment Date”, when used with respect to any series of Securities, means the Stated Maturity of any installment of interest on those
Securities. 
  
 “Judgment Currency” has the meaning
specified in Section 116. 
  
 “Lien” means any mortgage,
pledge, lien, security interest, charge or other similar encumbrance (including 
  

 6 

 
any conditional sale or other title retention agreement or lease in the nature thereof other than a title retention agreement in connection with the purchase
of goods in the ordinary course of business which is outstanding for not more than 360 days). 
  
 “Manufacturing Facility” means any pulp mill, sawmill or wood processing facility of the Company or any Subsidiary of the Company. 
  
 “Maturity”, when used with respect to any Securities, means the date on which the principal of any such Security
becomes due and payable as therein or herein provided, whether on a Repayment Date, at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
  
 “Officers’ Certificate” means a certificate signed by any two of the following: the Chairman of the Board,
the Vice Chairman of the Board, the President or a Vice President, the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary, its principal financial officer, its principal accounting
officer or any other officer, employee or agent of the Company duly authorized by a Board Resolution and delivered to the Trustee. One of the Officers signing an Officers’ Certificate given pursuant to Section 604 shall be the principal
executive, financial or accounting officer of the Company. Wherever this Indenture requires that an Officers’ Certificate be signed also by an engineer or an accountant or other expert, such engineer, accountant or other expert (except as
otherwise expressly provided in this Indenture) may be in the employ of the Company, and shall be acceptable to the Trustee, whose acceptance shall not be unreasonably withheld. 
  
 “OID” has the meaning specified in Section 301. 
  
 “Opinion of Counsel” means a written opinion of counsel, who may (except as otherwise expressly provided in this
Indenture) be an employee of or of counsel to the Company. Such counsel and opinion shall be acceptable to the Trustee, whose acceptance shall not be unreasonably withheld. 
  
 “Order” means a written order signed in the name of the Company, by any two of the following: its Chairman of the
Board, Vice Chairman of the Board, President or a 
  

 7 

 
Vice President, its Treasurer, Assistant Treasurer, its Controller, Assistant Controller, its Secretary or Assistant Secretary, its principal financial
officer, its principal accounting officer or any other officer, employee or agent of the Company duly authorized by a Board Resolution and delivered to the Trustee. 
  
 “Original Issue Discount Security” means (a) any Security which provides for an amount less than the principal
amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof, and (b) any other Security deemed an Original Issue Discount Security for United States Federal income tax purposes. 
  
 “Outstanding”, when used with respect to Securities or Securities
of any series, means, as of the date of determination, all such Securities theretofore authenticated and delivered under this Indenture, except: 
  
 (a) such Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
  
 (b) such Securities for whose payment or redemption money in
the necessary amount has been theretofore deposited with the Trustee or any Paying Agent in trust for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant
to this Indenture or provision therefor satisfactory to the Trustee has been made; and 
  
 (c) such Securities in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture,
or which shall have been paid pursuant to the terms of Section 306 (except with respect to any such Security as to which proof satisfactory to the Trustee is presented that such Security is held by a Person in whose hands such Security is a legal,
valid and binding obligation of the Company). 
  
 In determining whether the
Holders of the requisite principal amount of such Securities Outstanding have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (i) the principal amount of any Original Issue Discount Security that shall be
deemed to be Outstanding shall be the amount of the principal thereof that would be due and payable as of the date of the 
  

 8 

 
taking of such action upon a declaration of acceleration of the Maturity thereof and (ii) Securities owned by the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding. In determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act as owner with respect to such Securities and that the pledgee is
not the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor. 
  
 “Panama” means the Republic of Panama. 
  
 “Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) or interest on any Securities on behalf
of the Company. 
  
 “Person” means any individual,
corporation, limited liability company, partnership, joint venture, association, company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
  
 “Place of Payment” means, with respect to any series of Securities issued hereunder, the city or political
subdivision so designated with respect to the series of Securities in question in accordance with the provisions of Section 301, which if not so designated shall be The City of New York. 
  
 “Predecessor Securities” of any particular Security means every previous Security evidencing all or a portion of
the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same
debt as the lost, destroyed or stolen Security. 
  

 9 

 “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed
for such redemption by or pursuant to this Indenture. 
  
 “Redemption Price”, when used with respect to any Security to be redeemed, means the price specified in such Security or pursuant to this Indenture at which it is to be redeemed pursuant to this Indenture or, if not so specified,
at 100% of the principal amount thereof. 
  
 “Regular Record
Date” for the interest payable on any Security on any Interest Payment Date means the date specified in such Security or pursuant to this Indenture as the Regular Record Date, irrespective of whether such date is a Business Day. 
  
 “Repayment Date”, when used with respect to any Security to be
repaid at the option of the Holder, means the date fixed for such repayment in such Security or pursuant to this Indenture. 
  
 “Repayment Price”, when used with respect to any Security to be repaid at the option of the Holder, means the price specified in such Security
or pursuant to this Indenture at which it is to be repaid pursuant to such Security. 
  
 “Republic of Chile” means the Republic of Chile. 
  
 “Request” means a written request signed in the name of the Company by any two of the following: its Chairman of the Board, Vice Chairman of the Board, President or a Vice President, its Treasurer, Assistant
Treasurer, its Controller, Assistant Controller, its Secretary or Assistant Secretary, its principal financial officer, its principal accounting officer or any other officer, employee or agent of the Company duly authorized by a Board Resolution and
delivered to the Trustee. 
  
 “Required Currency” has
the meaning specified in Section 116. 
  
 “Responsible
Officer”, when used with respect to the Trustee, means any officer within the Corporate Trust Office of the Trustee with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust
matter, any other 
  

 10 

 
officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 
  
 “Sale and Leaseback Transaction” means any transaction or series of
related transactions pursuant to which the Company or any Subsidiary sells or transfers any property to any Person with the intention of taking back a lease of such property pursuant to which the rental payments are calculated to amortize the
purchase price of such property substantially over the useful life thereof and such property is in fact so leased. 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or any other
evidences of indebtedness, as the case may be, of any series authenticated and delivered from time to time under this Indenture. 
  
 “Security Register” shall have the meaning specified in Section 305. 
  
 “Security Registrar” means the Person who keeps the Security Register specified in Section 305. 
  
 “Securityholder” means a Person in whose name a Security is
registered in the Security Register. 
  
 “Significant
Subsidiary” means a Subsidiary of the Company which would be a “significant subsidiary” within the meaning of Rule 1-02 under Regulation S-X promulgated by the Commission as in effect on the date of the Indenture, assuming the Company
is the registrant referred to in such definition. 
  
 “Special Record Date” for the payment of any Defaulted Interest (as defined in Section 307) means a date fixed by the Trustee pursuant to Section 307. 
  
 “Specified Property” means Manufacturing Facilities and Timberlands. 
  
 “Stated Maturity”, when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security 
  

 11 

 
or such installment of principal or interest is due and payable. 
  
 “Subsidiary” means any corporation or other business entity of which the Company owns or controls (either directly or through one or more other
Subsidiaries) more than 50% of the issued share capital or other ownership interests, in each case having ordinary voting power to elect or appoint directors, managers or trustees of such corporation or other business entity (whether or not capital
stock or other ownership interests or any other class or classes shall or might have voting power upon the occurrence of any contingency). 
  
 “Taxes” has the meaning specified in Section 308. 
  
 “Timberlands” means at any time property owned by the Company or any Subsidiary, or as to which the Company or any Subsidiary has cutting
rights, which contains standing timber which is, or upon completion of a growth cycle then in process is expected to become, of commercial quantity and of merchantable quality; excluding from the term “Timberlands”, however, any
property which at the time is held primarily for development (other than as timberlands) and/or sale, and not primarily for the production of any wood products. 
  

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended by the Trust Indenture Reform Act of 1990, as in
force at the date as of which this instrument was executed, except as provided in Section 905; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” or “TIA” means
to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 
  
 “Trustee” means the Person named as the Trustee in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Trustee” shall mean and include each Person who is then a Trustee hereunder. If at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee
with respect to the Securities of that series. 
  

 12 

 “U.S. Government Obligations” means securities that are (x) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged or (y) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof or any other Person, and shall also include a depository
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any obligation or a specific payment of principal of or interest on any such obligation held by such custodian for the account of the holder
of such depository receipt, provided that (except as required by law) such custodian shall not be authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in
respect of the obligation or the specific payment of principal of or interest on the obligation evidenced by such depository receipt. 
  
 “Vice President”, when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a
word or words added before or after the title “vice president”, including an assistant vice president. 
  
 “Voting Stock”, as applied to the stock of any corporation, means stock of any class or classes (however designated) having by the terms thereof
ordinary voting power to elect a majority of the members of the board of directors (or other governing body) of such corporation other than stock having such power only by reason of the happening of a contingency. 
  
 “Wholly-Owned Subsidiary” means any Person of which 100% of the
outstanding stock (other than directors’ qualifying shares, if any) having by the terms thereof ordinary voting power (not dependent upon the happening of a contingency) to elect the board of directors of such corporation is at the time owned
or controlled directly or indirectly by the Company, or by one or more Wholly-Owned Subsidiaries or by the Company and one or more Wholly-Owned Subsidiaries. 
  

 13 

 SECTION 102. Compliance Certificates and Opinions. Upon any application or request by the Company
to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with and an Opinion of Counsel stating that in the opinion of counsel providing such Opinion all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to
which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 
  
 Every certificate or opinion with respect to compliance by or on behalf of
the Company with a condition or covenant provided for in this Indenture (except for the written statement required by Section 1004) shall include 
  
 (a) a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein
relating thereto; 
  
 (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 each such individual, he has made such examination or investigation as is necessary to enable him
to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
  
 (d) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
  
 SECTION 103. Form of Documents Delivered to Trustee. In any case where
several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or
covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other 
  

 14 

 
such Persons as to the other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
  
 Any certificate or opinion of an officer of the Company may be based, insofar
as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the
matters upon which his certificate or opinion is based are erroneous. Any Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company
stating that the information with respect to such factual matters is in the possession of the Company, unless counsel providing such Opinion of Counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous. 
  
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one
instrument. 
  
 SECTION 104. Acts of Securityholders. (a)
Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Securityholders or Securityholders of any series may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Securityholders 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. If any Securities are denominated in coin or currency other than that of the United States, then for the purposes of determining whether the Holders of the requisite
principal amount of Securities have taken any action as herein described, the principal amount of such Securities shall be deemed to be that amount of United States dollars that could be obtained for such principal amount on the basis of the spot
rate of exchange into United States dollars for the currency in which such Securities are denominated (as evidenced to the Trustee by an Officers’ Certificate) as of 
  

 15 

 
the date the taking of such action by the Holders of such requisite principal amount is evidenced to the Trustee as provided in the immediately preceding
sentence. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Securityholders 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 (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

 
 (b) The fact and date of the execution by any Person of
any such instrument or writing may be proved by the affidavit of a witness to such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds certifying that the individual signing such
instrument or writing acknowledged to him the execution thereof. Where such execution is by an officer of a corporation or a member of a partnership, on behalf of such corporation or partnership, such certificate or affidavit shall also constitute
sufficient proof of his 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. 
  
 (c) The ownership of Securities shall be proved by the
Security Register. 
  
 (d) If the Company shall
solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, by Board Resolution, fix in advance a record date for the determination of Holders entitled to give such
request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other
action may be given before or after the record date, but only the Holders of record at the close of business on the record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Securities
Outstanding have authorized or agreed or consented to such request, demand, authorization, direction, 
  

 16 

 
notice, consent, waiver or other action, and for that purpose the Securities Outstanding shall be computed as of the record date; provided that no
such authorization, agreement or consent by the Holders on the 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) Any request, demand, authorization, direction, notice,
consent, waiver or other action by the Holder of any Security shall bind 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 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. 
  
 (f) Without limiting the foregoing, a Holder entitled hereunder to give or take any such action with regard to any particular Security may
do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any different part of such principal amount. 

 
 SECTION 105. Notices, etc., to Trustee and Company. Any request,
demand, authorization, direction, notice, consent, waiver or Act of Securityholders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
  
 (a) the Trustee by any Securityholder or by the Company
shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, or 
  
 (b) the Company by the Trustee or by any Securityholder shall be sufficient for every purpose hereunder (except as otherwise expressly
provided herein or, in the case of a request for repayment, as specified in the Security carrying the right to repayment) if in writing and mailed by first class mail, transmitted by facsimile or forwarded by overnight courier to the Company
addressed to it at 
  

 17 

 
the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the
Trustee by the Company. 
  
 SECTION 106. Notices to
Securityholders; Waiver. Where this Indenture or any Security provides for notice to Securityholders of any event, such notice shall be sufficiently given (unless otherwise herein or in such Security expressly provided) if in writing and mailed,
first-class postage prepaid, to each Securityholder affected by such event, at its address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In
any case where notice to Securityholders is given by mail, neither the inadvertent failure to mail such notice, nor any defect in any notice so mailed, to any particular Securityholder shall affect the sufficiency of such notice with respect to
other Securityholders. Where this Indenture or any Security provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the
equivalent of such notice. Waivers of notice by Securityholders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
  
 In case, by reason of the suspension of regular mail service as a result of a
strike, work stoppage or otherwise, it shall be impractical to mail notice of any event to any Securityholder when such notice is required to be given pursuant to any provision of this Indenture, then any method of notification as shall be
satisfactory to the Trustee and the Company shall be deemed to be a sufficient giving of such notice. 
  
 SECTION 107. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with the duties imposed by any of Sections
310 to 317, inclusive, of the Trust Indenture Act through the operation of Section 318(c) thereof, such imposed duties shall control. 
  
 SECTION 108. Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only
and shall not affect the construction hereof. 
  

 18 

 SECTION 109. Successors and Assigns. All covenants and agreements in this Indenture by the Company
shall bind its successors and assigns, whether so expressed or not. 
  
 SECTION 110. Separability Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
  
 SECTION 111. Benefits of
Indenture. Nothing in this Indenture or in any Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, any Authenticating Agent, any Paying Agent, the Security Registrar and the
Holders of Securities (or such of them as may be affected thereby), any benefit or any legal or equitable right, remedy or claim under this Indenture. 
  
 SECTION 112. Governing Law. This Indenture shall be construed in accordance with and governed by the laws of the State of New York. 
  
 SECTION 113. Consent to Jurisdiction and Service of Process. (a) The
Company irrevocably consents to the nonexclusive jurisdiction of any court of the State of New York or any United States Federal court sitting, in each case, in the Borough of Manhattan, The City of New York, New York, United States of America, and
any appellate court from any thereof, and waives any immunity from the jurisdiction of such courts over any suit, action or proceeding that may be brought in connection with this Indenture or the Securities. The Company irrevocably waives, to the
fullest extent permitted by law, any objection to any suit, action or proceeding that may be brought in connection with this Indenture or the Securities in such courts whether on the grounds of venue, residence or domicile or on the ground that any
such suit, action or proceeding has been brought in an inconvenient forum. The Company agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and may be enforced in
any court to the jurisdiction of which the Company is subject by a suit upon such judgment; provided that service of process is effected upon the Company in the manner provided by this Indenture. Notwithstanding the foregoing, any suit,
action or proceeding brought in connection with this Indenture or 
  

 19 

 
the Securities against the Company may be instituted in any competent court in Panama or the Republic of Chile. 
  
 (b) The Company agrees that service of all writs, process
and summonses in any suit, action or proceeding brought in connection with this Indenture or the Securities against the Company in any court of the State of New York or any United States Federal court sitting, in each case, in the Borough of
Manhattan, The City of New York, may be made upon CT Corporation System at 1633 Broadway, New York, New York 10019, whom the Company irrevocably appoints as its authorized agent for service of process. The Company represents and warrants that CT
Corporation System has agreed to act as the Company’s agent for service of process. The Company agrees that such appointment shall be irrevocable so long as any of the Securities remain outstanding or until the irrevocable appointment by the
Company of a successor in The City of New York as its authorized agent for such purpose and the acceptance of such appointment by such successor. The Company further agrees to take any and all action, including the filing of any and all documents
and instruments, that may be necessary to continue such appointment in full force and effect as aforesaid. If CT Corporation System shall cease to act as the agent for service of process for the Company, the Company shall appoint without delay
another such agent and provide prompt written notice to the Trustee of such appointment. With respect to any such action in any court of the State of New York or any United States Federal court, in each case, in the Borough of Manhattan, The City of
New York, service of process upon CT Corporation System, as the authorized agent of the Company for service of process, and written notice of such service to the Company shall be deemed, in every respect, effective service of process upon the
Company. 
  
 (c) Nothing in this Section shall
affect the right of any party to serve legal process in any other manner permitted by law or affect the right of any party to bring any action or proceeding against any other party or its property in the courts of other jurisdictions. 
  
 SECTION 114. Waiver of Immunity. To the extent that the Company or any
of its properties, assets or 
  

 20 

 
revenues may have or may hereafter become entitled to, or have attributed to it, any right of immunity, on the grounds of sovereignty or otherwise, from any
legal action, suit or proceeding, from the giving of any relief in any thereof, from setoff or counterclaim, from the jurisdiction of any court, from service of process, from attachment upon or prior to judgment, from attachment in aid of execution
of judgment, or from execution of judgment, or from other legal process or proceeding for the giving of any relief or for the enforcement of any judgment, in any jurisdiction in which the proceedings may at any time be commenced, with respect to its
obligations, liabilities or any other matter under or arising out of or in connection with this Indenture or the Securities, the Company, to the fullest extent permitted by law, hereby irrevocably and unconditionally waives, and agrees not to plead
or claim any such immunity, and consents to such relief and enforcement. 
  
 SECTION 115. Legal Holidays. In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then payment of interest or
principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption
Date or Stated Maturity, and no interest shall accrue on such payment for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
  
 SECTION 116. Judgment Currency. The Company agrees, to the fullest extent that it may effectively do so under
applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or premium or interest, if any, on the Securities of any series (the “Required Currency”)
into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which, in accordance with normal banking procedures, the Trustee could purchase the Required Currency with the
Judgment Currency and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with

  

 21 

 
subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by
the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount,
if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. 
  
 SECTION 117. Counterparts. This instrument may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
  
 ARTICLE TWO  
  
 Security Forms 
  
 SECTION 201. Forms Generally. The Securities shall have such appropriate insertions, omissions, substitutions and other variations as are required
or permitted by this Indenture or any indenture supplemental hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with applicable laws or regulations
or with the rules of any securities exchange, or as may, consistently herewith, be determined by the person or persons executing such Securities, as evidenced by their execution of the Securities. Any portion of the text of any Security may be set
forth on the reverse thereof, with an appropriate reference thereto on the face of the Security. 
  
 The definitive Securities shall be printed, lithographed or engraved or produced by any combination of these methods on steel engraved borders or may be
produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities, subject, with respect to the Securities of any series, to the rules of any securities exchange on which
such Securities are listed. 
  

 22 

 SECTION 202. Forms of Securities. Provisions relating to the Securities, if any, of each series
and the Exchange Securities, if any, are set forth in Appendix A, which is hereby incorporated in and expressly made part of this Indenture. Each Security shall be in the form of Exhibit A-1 or Exhibit A-2 hereto or in one of the forms approved from
time to time by or pursuant to a Board Resolution or established in one or more indentures supplemental hereto. Prior to the delivery of a Security to the Trustee for authentication in any form approved by or pursuant to a Board Resolution, the
Company shall deliver to the Trustee the Board Resolution by or pursuant to which such form of Security has been approved, which Board Resolution shall have attached thereto a true and correct copy of the form of Security which has been approved
thereby or, if a Board Resolution authorizes a specific person or persons to approve a form of Security, a certificate of such person or persons approving the form of Security attached thereto. Any form of Security approved by or pursuant to a Board
Resolution must be acceptable as to form to the Trustee, such acceptance to be evidenced by the Trustee’s authentication of Securities in that form or a certificate signed by a Responsible Officer of the Trustee and delivered to the Company.

  
 SECTION 203. Form of Trustee’s Certificate of
Authentication. The form of Trustee’s Certificate of Authentication for any Security issued pursuant to this Indenture shall be substantially as follows: 
  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

	 JPMORGAN CHASE BANK, as Trustee,

		
	 By:
	 	  

	 	 	 Authorized Officer

  
 SECTION 204.
Securities Issuable in the Form of a Global Security. (a) If the Company shall establish pursuant to Sections 202 and 301 that the Securities of a particular series are to be issued in whole or in part in 
  

 23 

 
the form of one or more Global Securities, then the Company shall execute and the Trustee or its agent shall, in accordance with Section 303 and the Company
Request delivered to the Trustee or its agent thereunder, authenticate and deliver such Global Security or Securities which (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, the Outstanding
Securities of such series to be represented by such Global Security or Securities or such portion thereof as the Company shall specify in a Company Request, (ii) shall be registered in the name of the Depositary for such Global Security or
Securities or its nominee, (iii) shall be delivered by the Trustee or its agent to the Depositary or pursuant to the Depositary’s instruction or retained by the Trustee as custodian for and on behalf of the Depositary and (iv) shall bear a
Global Security Legend (as defined in Appendix A). 
  
 (b) Notwithstanding any other provisions of this Section 204 or of Section 305, but subject to the provisions of paragraph (c) below and Appendix A, unless the terms of a Global Security expressly permit such Global Security to be exchanged
in whole or in part for individual Securities, a Global Security may be transferred, in whole but not in part and in the manner provided in Section 305, only to a nominee of the Depositary for such Global Security, to the Depositary for such Global
Security, to a successor Depositary for such Global Security selected or approved by the Company or to a nominee of such successor Depositary. 
  
 (c) (i) If at any time the Depositary for a Global Security notifies the Company that it is unwilling or unable to continue as Depositary
for such Global Security or if at any time the Depositary for the Securities for such series ceases to be a clearing agency registered under the Exchange Act or other applicable statute or regulation, the Company shall appoint a successor Depositary
with respect to such Global Security. If a successor Depositary for such Global Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the
Trustee or its agent, upon receipt of a Company Request for the authentication and delivery of individual Securities of such series in exchange 
  

 24 

 
for such Global Security, will authenticate and deliver, individual Securities of such series of like tenor and terms in an aggregate principal amount equal
to the principal amount of the Global Security in exchange for such Global Security. 
  
 (ii) The Company may at any time and in its sole discretion determine that the Securities of any series or portion thereof issued or
issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company Request for the authentication and
delivery of individual Securities of such series in exchange in whole or in part for such Global Security, will authenticate and deliver at the Company’s sole cost and expense individual Securities of such series of like tenor and terms in
definitive form in an aggregate principal amount equal to the principal amount of such Global Security or Securities representing such series or portion thereof in exchange for such Global Security or Securities. 
  
 (iii) If an Event of Default under the Securities of any
series has occurred and is continuing and all principal of and premium, if any, and accrued interest on such Securities shall have become immediately due and payable as provided by Section 502 and the Trustee has been advised by counsel that in
connection with such Event of Default it is necessary or appropriate for the Trustee or the Securityholders to obtain possession of such Securities, the Trustee may, in the reasonable exercise of its discretion, determine that the Securities of such
series represented by Global Securities shall no longer be represented by such Global Securities. In such event, the Company agrees to execute and the Trustee will authenticate and deliver at the Company’s sole cost and expense, in exchange for
such Global Securities, individual Securities of such series of like tenor and terms in definitive form in an aggregate principal amount equal to 
  

 25 

 
the principal amount of such Global Securities representing such series or portion thereof. 
  
 (iv) If specified by the Company pursuant to Sections 202 and 301 with respect to Securities issued or
issuable in the form of a Global Security or as set forth in Appendix A, the Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for individual Securities of such series of like tenor and terms in
definitive form on such terms as are acceptable to the Company and such Depositary. Thereupon the Company shall execute, and the Trustee or its agent shall authenticate and deliver, without service charge, (1) to each Person specified by such
Depositary, a new Security or Securities of the same series of like tenor and terms and of any authorized denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest in
the Global Security; and (2) to such Depositary, a new Global Security of the same series and of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered Global Security
and the aggregate principal amount of Securities delivered to the Holders thereof. 
  
 (v) In any exchange provided for in any of the preceding four paragraphs or in Appendix A, the Company will execute and the Trustee or its
agent will authenticate and deliver at the Company’s sole cost and expense individual Securities in definitive registered form in authorized denominations. Upon the exchange of the entire principal amount of a Global Security for individual
Securities, such Global Security shall be cancelled by the Trustee or its agent. Except as provided in the preceding paragraph or in Appendix A, Securities issued in exchange for a Global Security pursuant to this Section (1) shall be registered in
such names and in such authorized denominations as the Depositary for such Global Security, pursuant to instructions from its direct or indirect participants or 
  

 26 

 
otherwise, shall instruct the Trustee or the Security Registrar and (2) shall bear any legend set forth on such Global Security (other than a legend relating
to such Global Security’s status as a Global Security) or which the Company believes is reasonably necessary to comply with applicable law. The Trustee or the Security Registrar shall deliver such Securities to the Persons in whose names such
Securities are so registered. 
  
 (d) In the
event the Securities are issued as Global Securities with the Depositary (i) the Trustee may deal with the Depositary as the authorized representative of the Holders, (ii) the rights of the Holders shall be exercised only through the Depositary and
shall be limited to those established by law and agreement between the Holders and the Depositary and/or direct participants of the Depositary, (iii) the Depositary will make book entry transfers among the direct participants of the Depositary and
will receive and transmit distributions of principal and interest on the Securities to such direct participants and (iv) the direct participants of the Depositary shall have no rights under this Indenture under or with respect to any of the
Securities held on their behalf by the Depositary, and the Depositary may be treated by the Trustee and its agents, employees, officers and directors as the absolute owner of the Securities for all purposes whatsoever. 
  
 ARTICLE THREE  
  
 The Securities 
  
 SECTION 301. General Title; General Limitations; Issuable in Series; Terms
of Particular Series. The aggregate principal amount of Securities which may be authenticated and delivered and Outstanding under this Indenture is not limited. 
  
 The Securities may be issued in one or more series up to an aggregate principal amount of Securities as from time to time
may be authorized by the Board of Directors. All Securities of each series under this Indenture shall in all respects be equally and ratably entitled to the benefits hereof with respect to such series without preference, priority or distinction on
account of 
  

 27 

 
the actual time of the authentication and delivery or Stated Maturity of the Securities of such series. 
  
 Each series of Securities shall be created either by or pursuant to a Board
Resolution or by or pursuant to an indenture supplemental hereto. The Securities of each such series may bear such date or dates, be payable at such place or places, have such Stated Maturity or Maturities, be issuable at such premium over or
discount from their face value, bear interest at such rate or rates (which may be fixed or floating), from such date or dates, payable in such installments and on such dates and at such place or places to the Holders of Securities registered as such
on the related Regular Record Dates, or may bear no interest, and may be redeemable or repayable at such Redemption Price or Prices or Repayment Price or Prices, as the case may be, whether at the option of the Holder or otherwise, and upon such
terms, all as shall be provided for in or pursuant to the Board Resolution or in or pursuant to the supplemental indenture creating that series. The Company may from time to time, without the consent of Holders of a series of Securities, issue
further securities having terms identical to those of such series of Securities so that any further issue is consolidated and forms a single series with such series of Securities; provided, however, that any Securities issued with original issue
discount (“OID”) for Federal income tax purposes shall not be issued as part of the same series of any Securities that are issued with a different amount of OID or are not issued with OID. There may also be established in or pursuant to a
Board Resolution or in or pursuant to a supplemental indenture prior to the issuance of Securities of each such series, provision for: 
  
 (1) the exchange or conversion of the Securities of that series, at the option of the Holders thereof, for or into new Securities of a
different series or other securities or other property, including shares of capital stock of the Company or any subsidiary of the Company or securities directly or indirectly convertible into or exchangeable for any such shares; 
  
 (2) a sinking or purchase fund or other analogous
obligation; 
  
 (3) if other than U.S. dollars,
the currency or currencies or units based on or related to currencies (including European Currency Units) in which the 
  

 28 

 
Securities of such series shall be denominated and in which payments of principal of, and any premium and interest on, such Securities shall or may be
payable; 
  
 (4) if the principal of (and
premium, if any) or interest, if any, on the Securities of such series are to be payable, at the election of the Company or a Holder thereof, in a currency or currencies or units based on or related to currencies (including European Currency Units)
other than that in which the Securities are stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be made; 
  
 (5) if the amount of payments of principal of (and premium, if any) or interest, if any, on the Securities
of such series may be determined with reference to an index based on (i) a currency or currencies or units based on or related to currencies (including European Currency Units) other than that in which the Securities are stated to be payable, (ii)
changes in the price of one or more other securities or groups or indexes of securities or (iii) changes in the prices of one or more commodities or groups or indexes of commodities, or any combination of the foregoing, the manner in which such
amounts shall be determined; 
  
 (6) if the
aggregate principal amount of the Securities of that series is to be limited, such limitations; 
  
 (7) the exchange of Securities of that series, at the option of the Holders thereof, for other Securities of the same series of the same
aggregate principal amount of a different authorized kind or different authorized denomination or denominations, or both; 
  
 (8) the appointment by the Trustee of an Authenticating Agent in one or more places other than the location of the office of the Trustee
with power to act on behalf of the Trustee and subject to its direction in the authentication and delivery of the Securities of any one or more series in connection with such transactions as shall be specified in the provisions of this Indenture or
in or pursuant to the 
  

 29 

 
Board Resolution or the supplemental indenture creating such series; 
  
 (9) the portion of the principal amount of Securities of the series, if other than the total principal
amount thereof, which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502 or provable in bankruptcy pursuant to Section 504; 
  
 (10) any Event of Default with respect to the Securities of such series, if not set forth herein and any
additions, deletions or other changes to the Events of Default set forth herein that shall be applicable to the Securities of such series (including a provision making any Event of Default set forth herein inapplicable to the Securities of that
series); 
  
 (11) any covenant solely for the
benefit of the Securities of such series and any additions, deletions or other changes to the provisions of Article Ten or any definitions relating to such Article that shall be applicable to the Securities of such series (including a provision
making any Section of such Article inapplicable to the Securities of such series); 
  
 (12) the applicability of Article Twelve of this Indenture to the Securities of such series; 
  
 (13) if the Securities of the series shall be issued in
whole or in part in the form of a Global Security or Global Securities, the terms and conditions, if any, upon which such Global Security or Global Securities may be exchanged in whole or in part for other individual Securities; and the Depositary
for such Global Security or Global Securities (if other than the Depositary specified in Section 101 hereof); 
  
 (14) the subordination of the Securities of such series to any other indebtedness of the Company, including the Securities of any other
series; 
  
 (15) whether such Securities shall be
issued as part of a new or existing series of Securities and the title of such Securities (which shall distinguish the Securities of the series from Securities of another series); 
  

 30 

 (16) if applicable, that such Securities shall not be issued in the form of Securities
set forth in Exhibit A-1 that are subject to Appendix A, but shall be issued in the form of Exchange Securities as set forth in Exhibit A-2; and 
  
 (17) any other terms of the series, which shall not be inconsistent with the provisions of this Indenture, 
  
 all upon such terms as may be determined in or pursuant to a Board Resolution or in or
pursuant to a supplemental indenture with respect to such series. All Securities of the same series shall be substantially identical in tenor and effect, except as to denomination. 
  
 The form of the Securities of each series shall be established pursuant to the provisions of this Indenture in or pursuant
to the Board Resolution or in or pursuant to the supplemental indenture creating such series. The Securities of each series shall be distinguished from the Securities of each other series in such manner, reasonably satisfactory to the Trustee, as
the Board of Directors may determine. 
  
 Unless otherwise
provided with respect to Securities of a particular series, the Securities of any series may only be issuable in registered form, without coupons. 
  
 Any terms or provisions in respect of the Securities of any series issued under this Indenture may be determined pursuant to this Section by providing in
a Board Resolution or supplemental indenture for the method by which such terms or provisions shall be determined. 
  
 SECTION 302. Denominations. The Securities of each series shall be issuable in such denominations and currency as shall be provided in the
provisions of this Indenture or in or pursuant to the Board Resolution or the supplemental indenture creating such series. In the absence of any such provisions with respect to the Securities of any series, the Securities of that series shall be
issuable only in U.S. dollars in fully registered form without coupons in denominations of $1,000 and any integral multiple thereof. 
  

 31 

 SECTION 303. Execution, Authentication and Delivery and Dating. The Securities shall be executed
on behalf of the Company by any two of the following: its Chairman of the Board, its Vice Chairman of the Board, its President, one of its Vice Presidents, its Treasurer, its Secretary or one of its Assistant Secretaries, its principal financial
officer, its principal accounting officer or any other officer, employee or agent of the Company duly authorized by or pursuant to a Board Resolution to execute the Securities. The signature of any of these officers, employees or agents on the
Securities may be manual or facsimile. 
  
 Securities bearing the
manual or facsimile signatures of individuals who were at any time the proper officers, employees or agents of the Company shall bind the Company notwithstanding that such individuals or any of them have ceased to hold such offices prior to the
authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
  
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities executed by the Company to the
Trustee for authentication; and the Trustee shall, upon Company Order, authenticate and deliver such Securities as provided in this Indenture and not otherwise. 
  

Prior to any such authentication and delivery, the Trustee shall be entitled to receive, in addition to any Officers’ Certificate and Opinion of
Counsel required to be furnished to the Trustee pursuant to Section 102, and the Board Resolution and any certificate relating to the issuance of the series of Securities required to be furnished pursuant to Section 202, an Opinion of Counsel
stating that: 
  
 (1) all laws and requirements
with respect to the execution and delivery by the Company of such Securities have been complied with, the Company has the corporate power to issue such Securities, and such Securities have been duly authorized and delivered by the Company, and,
assuming due authentication and delivery by the Trustee, constitute legal, valid and binding obligations of the Company enforceable in accordance with their terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or other
laws and legal principles affecting creditors’ 
  

 32 

 
rights generally from time to time in effect and to general equitable principles, whether applied in an action at law or in equity) and entitled to the
benefits of this Indenture, equally and ratably with all other Securities, if any, of such series Outstanding; 
  
 (2) the Indenture is qualified under the Trust Indenture Act or the Indenture is not required to be so qualified; and 
  
 (3) such other matters as the Trustee may reasonably
request; 
  
 and, if the authentication and delivery relates to a new series of
Securities created by an indenture supplemental hereto, also stating that all laws and requirements with respect to the form and execution by the Company of the supplemental indenture with respect to that series of Securities have been complied
with, the Company has corporate power to execute and deliver any such supplemental indenture and has taken all necessary corporate action for those purposes and any such supplemental indenture has been executed and delivered and constitutes the
legal, valid and binding obligation of the Company enforceable in accordance with its terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or other laws and legal principles affecting creditors’ rights generally from
time to time in effect and to general equitable principles, whether applied in an action at law or in equity). 
  
 The Trustee shall not be required to authenticate such Securities if the issue thereof will adversely affect the Trustee’s own rights, duties,
indemnities, or immunities under the Securities and this Indenture. 
  
 Unless otherwise provided in the form of Security for any series, all Securities shall be dated the date of their authentication. 
  
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that

  

 33 

 
such Security has been duly authenticated and delivered hereunder. 
  

The Company in issuing the Securities may use “CUSIP”, “private placement”, “ISIN” or “Common Code” numbers (if
then generally in use), and, if so, the Trustee may indicate such numbers of the Securities in notices of redemption and related materials 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 redemption and related materials. 
  
 SECTION 304. Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute, and, upon receipt of
the documents required by Section 303, together with a Company Order, the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by
their execution of such Securities. 
  
 If temporary Securities of
any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment, without charge to the Holder; and upon surrender for cancellation of any one or more
temporary Securities the Company shall execute and the Trustee shall authenticate and deliver at the Company’s sole expense in exchange therefor a like principal amount of definitive Securities of such series of authorized denominations and of
like tenor and terms. Until so exchanged the temporary Securities of such series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 
  
 Upon any exchange of a portion of a temporary Global Security for a
definitive Global Security or for the individual Securities represented thereby pursuant to this 
  

 34 

 
Section 304 or Section 305, the temporary Global Security shall be endorsed by the Trustee to reflect the reduction of the principal amount evidenced
thereby, whereupon the principal amount of such temporary Global Security shall be reduced for all purposes by the amount so exchanged and endorsed. 
  
 SECTION 305. Registration, Transfer and Exchange. The Company shall keep or cause to be kept a register (herein sometimes referred to as the
“Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities, or of Securities of a particular series, and for transfers of Securities or of
Securities of such series. Any such register shall be in written form or in any other form capable of being converted into written form within a reasonable time. At all reasonable times the information contained in such register or registers shall
be available for inspection by the Trustee at the office or agency to be maintained by the Company as provided in Section 1002. 
  
 Subject to Section 204, upon surrender for registration of transfer of any Security of any series at the office or agency of the Company in a Place of
Payment, the Company shall execute and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of such series of any authorized denominations, of a like aggregate principal
amount and Stated Maturity and of like tenor and terms. 
  
 Subject to Section 204, at the option of the Holder, Securities of any series may be exchanged for other Securities of such series of any authorized denominations, of a like aggregate principal amount and Stated Maturity and of like tenor
and terms, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute and the Trustee shall authenticate and deliver, the Securities which the
Securityholder making the exchange is entitled to receive. 
  
 All
Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company evidencing the same debt, and entitled to the same benefits under this Indenture, as the 

  

 35 

 
Securities surrendered upon such registration of transfer or exchange. 
  
 Every Security presented or surrendered for registration of transfer or exchange shall (if so required by the Company or the
Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or its attorney duly authorized in writing. 
  
 Unless otherwise provided in the Security to be transferred or exchanged, no
service charge shall be made on any Securityholder for any transfer or exchange of Securities, but the Company may (unless otherwise provided in such Security) require payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304 or 906 not involving any registration of transfer. 
  
 The Company shall not be required (i) to issue, registration of transfer of or exchange any Security of any series during a
period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of such series selected for redemption under Section 1103 and ending at the close of business on the date of such mailing, (ii)
to register the transfer of or exchange any Security so selected for redemption in whole or in part, except for the portion of such Security not so selected for redemption or (iii) to transfer or exchange any Security between any Regular Record Date
and the related Interest Payment Date. 
  
 None of the Company,
the Trustee, any agent of the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security
or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
  
 The Company initially appoints the Trustee to act as Security Registrar for the Securities on its behalf. The Company may at any time and from time to
time authorize any Person to act as Security Registrar in place of the 

  

 36 

 
Trustee with respect to any series of Securities issued under this Indenture. 
  
 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. If (i) any mutilated Security is surrendered to the
Trustee or the Company and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Security, and (ii) there is delivered to the Company and the Trustee such security or indemnity as may be required by them to save
each of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in exchange
for or in lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of like tenor, series, Stated Maturity 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 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 same series duly issued hereunder. 
  
 The provisions of this
Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  
 SECTION 307. Payment of Interest; Interest Rights Preserved. Unless
otherwise provided with respect to such Security pursuant to Section 301, interest on any 

  

 37 

 
Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 
  
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of its having been such Holder; and, except as hereinafter provided, such Defaulted Interest may be paid by
the Company, at its election in each case, as provided in clause (a) or clause (b) below: 
  
 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names any such Securities (or their respective
Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than
10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment
of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holder of each such Security at its address as it appears in the Security Register, not less than 10 days prior to such 

  

 38 

 
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted
Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 
  
 (b) The Company may make payment of any Defaulted Interest
in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of
the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
  
 If any installment of interest, the Stated Maturity of which is on or prior to the Redemption Date for any Security called for redemption pursuant to
Article Eleven, is not paid or duly provided for on or prior to the Redemption Date in accordance with the foregoing provisions of this Section, such interest shall be payable as part of the Redemption Price of such Securities. 
  
 Subject to the foregoing provisions of this Section, each Security delivered
under this Indenture upon registration of transfer or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
  
 SECTION 308. Taxation. (a) All payments of or in respect of principal,
interest and premium, if any, on each Security and all payments to the Trustee under Section 607 shall be made free and clear of, and without withholding or deduction for or on account of, any present or future taxes, penalties, fines, duties,
assessments or other governmental charges of whatsoever nature (or interest on any taxes, duties, fines, penalties, assessments or other governmental charges of whatever nature) imposed, levied, collected, withheld or assessed by, within or on
behalf of Panama or the Republic of Chile or any other jurisdiction in which the Company is organized or engaged in business for tax purposes or, in each case, 

  

 39 

 
any political subdivision or governmental authority of either thereof or therein having power to tax, unless such withholding or deduction is required by
law. In that event, the Company shall pay such additional amounts (“Additional Amounts”) as may be necessary to ensure that the net amounts received by the Holder of such Security (including Additional Amounts) or the Trustee, as
the case may be, after such withholding or deduction shall equal the respective amounts of principal, interest and premium, if any, that would have been receivable in respect of such Security in the case of the Holder, or pursuant to Section 607, in
the case of the Trustee, in the absence of such withholding or deduction, except that no such Additional Amounts shall be payable in respect of any Security (i) in the case of payments for which presentation of a Security is required, if such
Security is presented for payment more than 30 days after the later of (x) the date on which such payment first became due and (y) if the full amount payable has not been received in the Place of Payment by the Trustee on or prior to such due date,
the date on which, the full amount having been so received, notice to that effect shall have been given to the Securityholder by the Trustee, except to the extent that the Securityholder would have been entitled to such Additional Amounts on
presenting such Security for payment on the last day of the applicable 30-day period; (ii) for any estate, inheritance, gift, sales, transfer, personal property or similar tax, duty, fine, assessment or other governmental charge; (iii) held by or on
behalf of a Securityholder or beneficial owner who is liable for taxes, duties, fines, penalties, assessments or other governmental charges in respect of such Security by reason of having some present or former, direct or indirect, connection with
Panama or the Republic of Chile or any other jurisdiction in which the Company is organized or engaged in business for tax purposes (or any political subdivision or governmental authority of either thereof or therein), as the case may be, other than
the mere holding of such Security or the receipt of principal, interest or premium, if any, in respect thereof; or (iv) any combination of (i), (ii) and (iii). In addition, no Additional Amounts shall be paid with respect to any payment to any
Securityholder who is a fiduciary or a partnership or other than the sole beneficial owner of such Securities to the extent that the beneficiary or settlor with respect to such fiduciary, the member of such partnership or the beneficial owner of
such Securities would not have been entitled to Additional 
  

 40 

 
Amounts had such beneficiary, settlor, member or beneficial owner held such Securities directly. All references in this Indenture to principal, interest, and
other amounts payable hereunder shall be deemed to include references to any Additional Amounts payable under this Section with respect to such principal, interest, premium or other amounts. The Company will also (i) make such withholding or
deduction and (ii) remit the full amount deducted or withheld to the relevant authority in accordance with applicable law. The Company will furnish to the Securityholders, within 60 days after the date the payment of any Taxes so deducted or
withheld is due pursuant to applicable law, either certified copies of tax receipts evidencing such payment by the Company or, if such receipts are not obtainable, other evidence of such payments by the Company reasonably satisfactory to the
Securityholders. The Company will indemnify and hold harmless each Holder (subject to the exclusions set forth in clauses (i), (ii), (iii) or (iv) above) and will upon written request of each Holder (subject to the exclusions set forth in clauses
(i), (ii), (iii) or (iv) above), reimburse such Holder for the amount of any taxes, duties, fines, penalties, assessments or other governmental charges of whatever nature levied or imposed by Panama or the Republic of Chile or any other jurisdiction
in which the Company is organized or engaged in business for tax purposes, and paid by such Holder as a result of payments made under or with respect to the Notes. Any payment pursuant to the immediately preceding sentence shall also be an
Additional Amount. 
  
 (b) The Company shall
promptly pay when due any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies that arise in any jurisdiction from the execution, delivery, or registration of each Security or any other
document or instrument relating to the issuance thereof, excluding any such taxes, charges or similar levies imposed by any jurisdiction outside Panama or the Republic of Chile and except as provided in Section 305. The Company shall indemnify and
make whole the Holders of Securities for any present or future stamp, court or documentary taxes or any other excise or property taxes, charges or similar levies payable by the Company as provided in this clause (b) paid by such Holders. 

 

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 (c) At least 10 Business Days prior to the first Interest Payment Date for the Securities
of such series, and, if there has been any change with respect to the matters set forth in the below-mentioned certificate, at least 10 Business Days prior to each Interest Payment Date for the Securities of such series, the Company shall furnish to
the Trustee an Officers’ Certificate instructing the Trustee as to the circumstances in which payments of principal of, premium, if any, or interest on any Securities of such series (including Additional Amounts) due on such date shall be
subject to deduction or withholding for or on account of any taxes and the rate of any such deduction or withholding. The Company covenants to indemnify the Trustee and any other Paying Agents for, and to hold each harmless against, any loss,
liability or expense reasonably incurred without negligence, bad faith or wilful misconduct on their part, arising out of or in connection with actions taken or not taken by any of them in reliance on any certificate furnished to them pursuant to
this paragraph or the failure to furnish any such certificate. The obligations of the Company under the preceding sentence shall survive payment of all the Securities of such series, the satisfaction and discharge of this Indenture and the
resignation or removal of the Trustee, the Registrar or any Paying Agent. Any certificate required by this Section to be provided to the Trustee and any other Paying Agent shall be deemed to be duly provided if telecopied to the Trustee and such
other Paying Agent. Upon request, the Company shall provide the Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of taxes in respect of which the Company has paid any Additional Amounts. Copies of such
documentation shall be made available by the Trustee to the Holders or the other Paying Agents, as applicable, upon request therefor. 
  
 SECTION 309. Persons Deemed Owners. The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any
Security is registered in the Security Register as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any), and (subject to Section 307) interest on, such Security and for all other purposes whatsoever,
whether or not such Security be overdue, and none of the Company, the Trustee nor any agent of the 

  

 42 

 
Company or the Trustee shall be affected by notice to the contrary. 
  

SECTION 310. Cancellation. All Securities surrendered for payment, redemption, transfer, conversion or exchange or credit against a sinking
fund, if any, shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not already cancelled, shall be promptly cancelled by the Trustee. The Company may at any time deliver to the Trustee for cancellation any
Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. No Security shall be authenticated in lieu of or in
exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. The Trustee shall dispose of all cancelled Securities in accordance with its customary procedures and upon receipt of a Company
order, shall deliver a certificate of such disposition to the Company; provided, however, that the Trustee shall not be required to destroy such cancelled Securities. 
  
 SECTION 311. Computation of Interest. Unless otherwise provided as contemplated in Section 301, interest on the
Securities shall be calculated on the basis of a 360-day year of twelve 30-day months. 
  
 SECTION 312. Medium-term Securities. Notwithstanding any contrary provision herein, if all Securities of a series are not to be originally issued at one time, it shall not be necessary for the Company to
deliver to the Trustee an Officers’ Certificate, Board Resolution, supplemental indenture, Opinion of Counsel or Company Request otherwise required pursuant to Sections 202, 301 and 303 at or prior to the time of authentication of each Security
of such series if such documents are delivered to the Trustee or its agent at or prior to the authentication upon original issuance of the first Security of such series to be issued; provided that any subsequent request by the Company to the
Trustee to authenticate Securities of such series upon original issuance shall constitute a representation and warranty by the Company that as of the date of such request, the statements made in the Officers’ Certificate delivered pursuant to
Section 102 shall be true and correct as if made on such date. 
  

 43 

 An Officers’ Certificate, supplemental indenture or Board Resolution delivered by the Company to the
Trustee in the circumstances set forth in the preceding paragraph may provide that Securities which are the subject thereof will be authenticated and delivered by the Trustee or its agent on original issue from time to time upon the written order of
Persons designated in such Officers’ Certificate, Board Resolution or supplemental indenture (any such telephonic instructions to be confirmed promptly in writing by such Persons) and that such Persons are authorized to determine, consistent
with such Officers’ Certificate, supplemental indenture or Board Resolution, such terms and conditions of said Securities as are specified in such Officers’ Certificate, supplemental indenture or Board Resolution. 
  
 ARTICLE FOUR 
  
 Satisfaction and Discharge 
  
 SECTION 401. Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect with respect to any series of Securities
(except as to any surviving rights of conversion, transfer or exchange of Securities of such series expressly provided for herein or in the form of Security for such series), and the Trustee, on demand of and at the expense of the Company, shall
execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when 
  
 (a) either 
  
 (1) all Securities of that series theretofore authenticated and delivered (other than (i) Securities of such series which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 306, and (ii) Securities of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee cancelled or for cancellation; or 
  
 (2) all such Securities of that series not theretofore delivered to the Trustee cancelled or for
cancellation 
  

 44 

 (i) have become due and payable, or 
  
 (ii) will become due and payable at their Stated Maturity
within one year, or 
  
 (iii) are to be called
for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
  
 and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust
funds in trust for the purpose an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee cancelled or for cancellation, for principal (and premium, if any) and interest to the date
of such deposit (in the case of Securities which have become due and payable), or to the Stated Maturity or Redemption Date, as the case may be; 
  
 (b) the Company has paid or caused to be paid all other sums payable by the Company with respect to the Securities of such series
hereunder; 
  
 (c) the Company has delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to the Securities of such series have been
complied with; and 
  
 (d) the Company shall have
delivered to the Trustee an Opinion of Counsel to the effect that payment of amounts deposited in trust with the Trustee as provided in clause (a) hereof will not be subject to future taxes, duties, fines, penalties, assessments or other
governmental charges imposed, levied, collected, withheld or assessed by, within or on behalf of Panama or the Republic of Chile or any political subdivision or governmental authority of either or in either having power to tax, except to the extent
that Additional Amounts in respect thereof shall have been deposited in trust with the Trustee as provided in clause (a) hereof. 
  

 45 

 Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of Securities, the
obligations of the Company to the Trustee with respect to that series under Section 607 shall survive and the obligations of the Trustee under Sections 402 and 1003 shall survive. 
  
 SECTION 402. Application of Trust Money. All money and obligations deposited with the Trustee pursuant to Section 401
or Article Twelve and all money received by the Trustee in respect of such obligations shall be held in trust and applied by it, in accordance with the provisions of the series of Securities in respect of which it was deposited and this Indenture,
to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment
such money and obligations have been deposited with or received by the Trustee; but such money and obligations need not be segregated from other funds except to the extent required by law. 
  
 ARTICLE FIVE 
  
 Remedies 
  
 SECTION 501. Events of Default. “Event of Default”, wherever used herein, means with respect to any series of Securities any one of the
following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body), unless such event is either inapplicable to a particular series (to the extent expressly provided in the form of Security for such series) or it is specifically deleted or modified in the supplemental indenture
creating such series of Securities or in the form of Security for such series: 
  
 (1) default in the payment of any principal of the Securities of that series when due and payable, whether at Maturity, upon redemption or
otherwise; or 
  
 (2) default in the payment of
any interest or any Additional Amounts when due and payable on any 

  

 46 

 
Security of that series and the continuance of such default for a period of 30 days; or 
  
 (3) default in the performance or observance of any other term, covenant, warranty or obligation of the
Company or any of its Subsidiaries in the Securities of such series or this Indenture, not otherwise expressly defined as an Event of Default in (1) or (2) above, and the continuance of such default for more than 60 days after there has been given,
by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by Holders of at least 25% in aggregate principal amount of the Securities of that series then Outstanding, a written notice specifying such default or
breach and requiring it to be remedied; or 
  
 (4) the Company or any of its Subsidiaries shall default in the payment of principal of, or interest on, any note, bond, coupon or other instrument or agreement evidencing or pursuant to which there is outstanding Indebtedness of the
Company or any of its Subsidiaries, whether such Indebtedness now exists or shall hereafter be created, having an aggregate principal amount exceeding US$40,000,000 (or its equivalent in any other currency or currencies), other than the Securities
of that series, when any such Indebtedness shall become due and payable (whether at maturity, upon redemption or acceleration or otherwise), if such default shall continue for more than the period of grace, if any, originally applicable thereto and
the time for payment of such amount has not been expressly extended and such Indebtedness shall have been declared due and payable; or 
  
 (5) the entry of an order for relief against the Company or any Significant Subsidiary under any Bankruptcy Law by a court having
jurisdiction in the premises or a decree or order by a court having jurisdiction in the premises adjudging the Company or any Significant Subsidiary a bankrupt or insolvent under any other applicable law, or the entry of a decree or order approving
as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any Significant Subsidiary under any Bankruptcy Law, or appointing a receiver, liquidator, assignee, trustee, 

  

 47 

 
sequestrator (or other similar official under any Bankruptcy Law, including a “síndico”) of the Company or any Significant Subsidiary
or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days; or 
  
 (6) the consent by the Company or any Significant Subsidiary
to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any Bankruptcy Law, or the consent by it to the filing of any such petition or to
the appointment of a custodian, receiver, liquidator, assignee, trustee, sequestrator (or other similar official under any Bankruptcy Law, including a “síndico”) of the Company or any Significant Subsidiary or of any
substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company
or any Significant Subsidiary in furtherance of any such action; or 
  
 (7) any other Event of Default provided in the supplemental indenture under which such series of Securities is issued or in the form of Security for such series. 
  
 The term “Bankruptcy Law” as used in this Section means the Chilean
“Ley de Quiebras” (Law No. 18,175, as amended), the Argentinian “Ley de Concursos y Quiebras” (Law No. 24,522, as amended) or any other applicable law which amends, supplements or supersedes either of the foregoing and any
applicable bankruptcy, insolvency, reorganization or other similar law of any applicable jurisdiction. 
  
 SECTION 502. Acceleration of Maturity; Rescission and Annulment. If an Event of Default described in paragraph (1), (2), (3), (4) or (7) of Section
501 occurs and is continuing with respect to the Securities of any series, then and in each and every such case, unless the principal of all the Securities of such series shall have already become due and payable, either the Trustee or the Holders
of not less than 25% in aggregate principal 

  

 48 

 
amount of the Securities of such series then Outstanding hereunder (each such series acting as a separate class), by notice in writing to the Company (and to
the Trustee if given by Holders), may declare the principal amount (or, if the Securities of such series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all
the Securities of such series then Outstanding and all accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the
Securities of such series contained to the contrary notwithstanding. If an Event of Default described in paragraph (5) or (6) of Section 501 occurs and is continuing, then and in each and every such case, the principal amount (or, if any Securities
are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms thereof) of all the Securities then Outstanding and all accrued interest thereon shall, without any notice to the Company or any other act
on the part of the Trustee or any Holder of the Securities, become and be immediately due and payable, anything in this Indenture or in the Securities contained to the contrary notwithstanding. 
  
 At any time after such a declaration of acceleration has been made with
respect to the Securities of any series and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding
Securities of such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 
  
 (1) the Company has paid or deposited with the Trustee a sum sufficient to pay 
  
 (A) all overdue installments of interest on the Securities
of such series, 
  
 (B) the principal of (and
premium, if any, on) any Securities of such series which have become due otherwise than by such declaration of acceleration, and interest thereon at the rate or rates prescribed therefor by the terms of the Securities of such series, to the extent
that payment of such interest is lawful, 
  
  

 49 

 (C) interest upon overdue installments of interest at the rate or rates prescribed
therefor by the terms of the Securities of such series, to the extent that payment of such interest is lawful, and 
  
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel and all other amounts due the Trustee under Section 607; 
  
 and 
  
 (2) all
Events of Default with respect to such series of Securities, other than the nonpayment of the principal of the Securities of such series which have become due solely by such acceleration, have been cured or waived as provided in Section 513.

  
 No such rescission shall affect any subsequent default or impair any right
consequent thereon. 
  
 SECTION 503. Collection of Indebtedness
and Suits for Enforcement by Trustee. The Company covenants that if 
  
 (a) default is made in the payment of any installment of interest on any Security of any series when such interest becomes due and payable, or 
  
 (b) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity
thereof, or 
  
 (c) default is made in the
payment of any sinking or purchase fund or analogous obligation when the same becomes due by the terms of the Securities of any series, 
  
 and any such default continues for any period of grace provided with respect to the Securities of such series, the Company will, upon demand of the Trustee, pay to it,
for the benefit of the Holder of any such Security (or the Holders of any such series in the case of clause (c) above), the whole amount then due and payable on any such Security (or on the Securities of any such series in the case of clause (c)
above) for principal (and premium, if 

  

 50 

 
any) and interest, with interest, to the extent that payment of such interest shall be legally enforceable, upon the overdue principal (and premium, if any)
and upon overdue installments of interest, at such rate or rates as may be prescribed therefor by the terms of any such Security (or of Securities of any such series in the case of clause (c) above); and, in addition thereto, such further amount as
shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee under Section 607.

  
 If the Company fails to pay such amounts forthwith upon such
demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same
against the Company or any other obligor upon the Securities of such series and collect the money adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever
situated. 
  
 If an Event of Default with respect to any series of
Securities occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most
effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
  
 SECTION 504. Trustee May File Proofs of Claim. In case of the pendency
of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such
other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any
demand on the Company for the payment of overdue principal or interest) shall be entitled and 

  

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empowered, by intervention in such proceedings or otherwise, 
  
 (i) to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the
Securities and to file such other papers or documents as may be necessary and advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel and all other amounts due the Trustee under Section 607) and of the Securityholders allowed in such judicial proceeding, and 
  
 (ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 

 
 and any receiver, assignee, trustee, liquidator, sequestrator (or other similar official,
including a “síndico”) in any such judicial proceeding is hereby authorized by each Securityholder to make such payment to the Trustee and in the event that the Trustee shall consent to the making of such payments directly to
the Securityholders, 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 607. 
  
 Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Securityholder any plan or reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Securityholder in any such proceeding. 
  
 SECTION 505. Trustee May Enforce Claims Without Possession of Securities. All rights of action and claims under this Indenture or the Securities of any series may be prosecuted and enforced by the Trustee without the possession of
any of the Securities of such series or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall,
after provision for the 

  

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payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent and counsel and all other amounts due to the Trustee
under Section 607 herein, be for the ratable benefit of the Holders of the Securities of the series in respect of which such judgment has been recovered. 
  
 SECTION 506. Application of Money Collected. Any money collected by the Trustee with respect to a series of Securities pursuant to this Article
shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, upon presentation of the Securities of such series and the
notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
  
 FIRST: To the payment of all amounts due the Trustee under Section 607. 
  
 SECOND: To the payment of the amounts then due and unpaid upon the Securities of that series for principal (and premium, if
any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any)
and interest, respectively. 
  
 SECTION 507. Limitation on
Suits. No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture or the Securities or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless 
  
 (a) such Holder has
previously given written notice to the Trustee of a continuing Event of Default with respect to Securities of such series; 
  
 (b) the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
  

 53 

 (c) such Holder or Holders have offered to the Trustee reasonable indemnity against the
costs, expenses and liabilities to be incurred in compliance with such request; 
  
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;
and 
  
 (e) no direction inconsistent with such
written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series; 
  
 it being understood and intended that no one or more Holders of Securities of such series shall have any right in any manner whatever by
virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of such series, or to obtain or to seek to obtain priority or preference over any other such Holders or to
enforce any right under this Indenture, except in the manner herein provided and for the equal and proportionate benefit of all the Holders of all Securities of such series. 
  
 SECTION 508. Unconditional Right of Securityholders to Receive Principal, Premium and Interest. Notwithstanding any
other provisions in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 307) interest on such Security on the
respective Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on the Redemption Date or Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall
not be impaired without the consent of such Holder. 
  
 SECTION
509. Restoration of Rights and Remedies. If the Trustee or any Securityholder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, then and in
every such case the Company, the Trustee and the Securityholders shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the

  

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Trustee and the Securityholders shall continue as though no such proceeding had been instituted. 
  
 SECTION 510. Rights and Remedies Cumulative. Except as otherwise
provided in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Securityholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 
  
 SECTION 511. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall impair any such right or
remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Securityholders may be exercised from time to time, and as often as may be deemed
expedient, by the Trustee or by the Securityholders, as the case may be. No waiver of any Event of Default, whether by the Trustee or by the Securityholders, shall extend to or shall affect any subsequent Event of Default or shall impair any remedy
or right consequent thereon. 
  
 SECTION 512. Control by
Securityholders. The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee
or exercising any trust or power conferred on the Trustee with respect to the Securities of such series; provided that 
  
 (a) the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, determines that the
action so directed may not lawfully be taken or would conflict with this Indenture or if the Trustee in good faith shall, by a Responsible Officer, determine that the proceedings so directed would involve it in personal liability or be unjustly
prejudicial to the Holders not taking part in such direction, and 
  

 55 

 (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction. 
  
 SECTION 513. Waiver of
Past Defaults. Subject to Section 502, the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default
hereunder with respect to such series and its consequences, except a default not theretofore cured 
  
 (a) in the payment of the principal (or premium, if any) or interest on any Security of such series, or in the payment of any sinking or
purchase fund or analogous obligation with respect to the Securities of such series, or 
  
 (b) in respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder
of each Outstanding Security of such 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. 
  
 SECTION 514. Undertaking for Costs.
All parties to this Indenture agree, and each Holder of any Security by its acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, 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 Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series to which the suit 

  

 56 

 
relates, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any
Security on or after the respective Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date). 
  
 SECTION 515. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that
it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
  
 ARTICLE SIX 
  
 The Trustee 
  
 SECTION 601. Certain Duties and Responsibilities. (a) Except during the continuance of an Event of Default with respect to any series of Securities, 
  
 (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this
Indenture with respect to the Securities of such series, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  
 (2) in the absence of bad faith on its part, the Trustee may, with respect to Securities of such 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; but in the case of any such certificates or opinions which by
any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture. 
  

 57 

 (b) In case an Event of Default with respect to any series of Securities has occurred and
is continuing, the Trustee shall exercise with respect to the Securities of such series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use
under the circumstances in the conduct of his own affairs. 
  
 (c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 
  
 (1) this subsection shall not be construed to limit the
effect of subsection (a) of this Section; 
  
 (2)
the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
  
 (3) the Trustee shall not be liable with respect to any
action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any series relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and 
  
 (4) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured to it. 
  
 (d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 

 

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 SECTION 602. Notice of Defaults. Within 30 days after the occurrence of any default hereunder with
respect to Securities of any series, the Trustee shall transmit by mail to all Securityholders of such series, as their names and addresses appear in the Security Register, notice of such default hereunder actually known to a Responsible Officer of
the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal (or premium, if any) or interest or Additional Amounts on any Security of such
series or in the payment of any sinking or purchase fund installment or analogous obligation with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Securityholders of such series; and provided further that in the
case of any default of the character specified in Section 501(3) with respect to Securities of such series no such notice to Securityholders of such series shall be given until at least 30 days after the occurrence thereof. For the purpose of this
Section, the term “default”, with respect to Securities of any series, means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 
  
 SECTION 603. Certain Rights of Trustee. Except as otherwise provided
in Section 601: 
  
 (a) the Trustee may
conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties; 
  
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any
resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
  
 (c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a 

  

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matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee shall entitled to receive and (unless other evidence
be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’ Certificate; 
  
 (d) the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  
 (e) 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 Securityholders pursuant to this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred
by it in compliance with such request or direction; 
  
 (f) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper
or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Company, personally or by agent or attorney; 
  
 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
  
 (h) the Trustee shall not be under any obligation to take any action that is discretionary under the
provisions of this Indenture; 
  

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 (i) the Trustee shall not be charged with knowledge of any default or Event of Default
unless either (1) a Responsible Officer of the Trustee shall have actual knowledge of such event or (2) the Trustee shall have received written notice thereof from the Company or a Holder; and 
  
 (j) no permissive power or authority available to the
Trustee shall be construed as a duty. 
  
 SECTION 604. Not
Responsible for Recitals or Issuance of Securities. The recitals contained herein, in the Securities, except the certificates of authentication, shall be taken as the statements of the Company and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof.

  
 SECTION 605. May Hold Securities. The Trustee, any
Paying Agent, the Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other agent. 
  
 SECTION 606. Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent
required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
  
 SECTION 607. Compensation and Reimbursement. The Company agrees: 
  
 (a) to pay to the Trustee from time to time reasonable compensation for all services rendered by it
hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
  
 (b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances 

  

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incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements
of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or wilful misconduct; and 
  
 (c) to indemnify the Trustee and its directors, officers, agents, and employees for, and to hold them harmless against, any and all loss,
liability or expense incurred without loss, negligence or wilful misconduct on its part, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against or
investigating any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
  
 As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to the Securities upon all
property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest on particular Securities. The obligations of the Company set forth in this Section shall
survive the payment in full of all amounts due and owing hereunder and under the Securities, the termination and discharge of this Indenture or the earlier resignation or removal of the Trustee. 
  
 When the Trustee incurs any expenses or renders any services after the
occurrence of an Event of Default specified in Section 501(5) and (6), such expenses and the compensation for such services are intended to constitute expenses of administration under any bankruptcy law or any similar federal or state law for the
relief of debtors. 
  
 SECTION 608. Disqualification;
Conflicting Interests. The Trustee for the Securities of any series issued hereunder shall be subject to the provisions of Section 310(b) of the Trust Indenture Act during the period of time provided for therein. In determining whether the
Trustee has a conflicting interest as defined in Section 310(b) of the Trust Indenture Act with respect to the Securities of any series, there shall be excluded for purposes of the conflicting interest provisions of such Section 310(b) the
Securities of every other series issued under this Indenture. Nothing herein shall prevent the 

  

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Trustee from filing with the Commission the application referred to in the second to last paragraph of Section 310(b) of the Trust Indenture Act. 

 
 SECTION 609. Corporate Trustee Required; Eligibility. There shall
at all times be a Trustee hereunder with respect to each series of Securities, which shall be a corporation organized and doing business under the laws of the United States of America or of any State, authorized under such laws to exercise corporate
trust powers, having a combined capital and surplus of at least $50,000,000, and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee with respect to any series of Securities shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article. 
  
 SECTION 610.
Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor
Trustee under Section 611. 
  
 (b) The Trustee
may resign with respect to any series of Securities at any time by giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
  
 (c) The Trustee may be removed with respect to any series of Securities at any time by Act of the Holders of a majority in aggregate
principal amount of the Outstanding Securities of that series, delivered to the Trustee and to the Company. 
  

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 (d) If at any time: 
  
 (1) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act pursuant to Section 608
with respect to any series of Securities after written request therefor by the Company or by any Securityholder who has been a bona fide Holder of a Security of that series for at least six months, or 
  
 (2) the Trustee shall cease to be eligible under Section 609
with respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Securityholder, or 
  
 (3) the Trustee shall become incapable of acting with respect to any series of Securities, or 
  
 (4) the Trustee shall be adjudged a bankrupt or insolvent or
a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
  
 then, in any such case, (i) the Company by a Board Resolution may remove the Trustee, with
respect to the Securities of that series, or in the case of clause (4), with respect to all series, or (ii) subject to Section 514, any Securityholder who has been a bona fide Holder of a Security of such series for at least 6 months may, on behalf
of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the series, or, in the case of clause (4), with respect to all
series. 
  
 (e) If the Trustee shall resign, be
removed or become incapable of acting with respect to any series of Securities, or if a vacancy shall occur in the office of the Trustee with respect to any series of Securities for any cause, the Company, by a Board Resolution, shall promptly
appoint a successor Trustee for that series of Securities. If, within one year after such resignation, removal or incapacity, or the occurrence of such vacancy, a successor Trustee with respect to such series of Securities shall be appointed by Act
of the Holders of a majority in 

  

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aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed
shall, forthwith upon its acceptance of such appointment, become the successor Trustee with respect to such series and supersede the successor Trustee appointed by the Company with respect to such series. If no successor Trustee with respect to such
series shall have been so appointed by the Company or the Securityholders of such series and accepted appointment in the manner hereinafter provided, any Securityholder who has been a bona fide Holder of a Security of that series for at least six
months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series. 
  
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the
Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of that series as their
names and addresses appear in the Security Register. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. 
  

SECTION 611. Acceptance of Appointment by Successor. Every successor Trustee appointed hereunder shall execute, acknowledge and deliver to the
Company and to the predecessor Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the predecessor Trustee shall become effective with respect to any series as to which it is resigning or being removed as
Trustee, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the predecessor Trustee with respect to any such series; but, on request of the Company or the
successor Trustee, such predecessor Trustee shall, upon payment of its reasonable charges, if any, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the predecessor Trustee, and shall duly
assign, transfer and deliver to such successor Trustee all property and money held by such predecessor Trustee hereunder with respect to 

  

 65 

 
all or any such series, subject nevertheless to its lien, if any, provided for in Section 607. Upon request of any such successor Trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts. 
  
 In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the
predecessor Trustee and each successor Trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to
confirm that all the rights, powers, trusts and duties of the predecessor Trustee with respect to the Securities of any series as to which the predecessor Trustee is not being succeeded shall continue to be vested in the predecessor Trustee, and
shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental
indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee.

  
 No successor Trustee with respect to any series of Securities
shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible with respect to that series under this Article. 
  
 SECTION 612. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may
be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or 

  

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consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such
successor Trustee had itself authenticated such Securities. 
  
 SECTION 613. Preferential Collection of Claims Against Company. If and when the Trustee shall become a creditor of the Company (or any other obligor upon the securities of any Series), the Trustee shall be subject to the provisions
of the TIA regarding the collection of claims against the Company (or any other obligor). 
  
 SECTION 614. Appointment of Authenticating Agent. At any time when any of the Securities remain Outstanding, the Trustee, with the approval of the Company, may appoint an Authenticating Agent or Agents with
respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 306,
and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication
and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of
America, any State thereof or the District of Columbia, authorized under such laws to act as an Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and, if other than the Company, subject to supervision or
examination by United States Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an 

  

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Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the
manner and with the effect specified in this Section. 
  
 Any
corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any
corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or
filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
  
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and, if other than the Company, to the Company. The Trustee may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and, if other than the Company, to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease
to be eligible in accordance with the provisions of this Section, the Trustee, with the approval of the Company, may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall mail written notice of such appointment
by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses appear in the Security Register. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section. 
  
 The
Company agrees to pay to each Authenticating Agent reasonable compensation for its services under this Section. 
  
 If an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in
addition to the 

  

 68 

 
Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 
  
 This is one of the Securities of the series designated therein referred to in
the within-mentioned Indenture. 
  

	 JPMORGAN CHASE BANK,

	 as Trustee

		
	 By:
	 	  

	 	 	 As Authenticating Agent

		
	 By:
	 	  

	 	 	 Authorized Officer

  
 ARTICLE SEVEN

  
 Securityholders’ Lists and Reports by

  
 Trustee and Company 
  
 SECTION 701. Company to Furnish Trustee Names and Addresses of
Securityholders. The Company will furnish or cause to be furnished to the Trustee 
  
 (a) semi-annually, not more than 15 days after each Regular Record Date, in each year in such form as the Trustee may reasonably require,
a list of the names and addresses of the Holders of Securities of such series as of such date, and 
  
 (b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list
of similar form and content as of a date not more than 15 days prior to the time such list is furnished, 
  
 excluding from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 
  
 SECTION 702. Preservation of Information; Communications to Securityholders. (a) The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders of Securities contained in the most recent list furnished to the Trustee as provided in Section 701 and the names and 

  

 69 

 
addresses of Holders of Securities received by the Trustee in its capacity as Security Register. The Trustee may destroy any list furnished to it as provided
in Section 701 upon receipt of a new list so furnished. 
  
 (b) The rights of the Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as
provided in the Trust Indenture Act. 
  
 (c)
Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of any such
information as to the names and addresses made pursuant to the Trust Indenture Act. 
  
 SECTION 703. Reports by Trustee. (a) The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under the Indenture as may be required pursuant to the Trust Indenture Act at the
times and in the manner provided pursuant thereto. To the extent that any such report is required by the Trust Indenture Act with respect to any 12-month period, such report shall cover the 12-month period ending May 15 and shall be transmitted by
the next succeeding May 15. 
  
 (b) A copy of
each report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities
are listed on any stock exchange. 
  
 SECTION 704. Reports by
Company. The Company will: 
  
 (a) file with
the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission
may from time to time by rules and regulations prescribe) which the Company may be 

  

 70 

 
required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information,
documents or reports pursuant to either of said Sections, then it will file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security of a “foreign private issuer” (as defined in Rule 3b-4 of the General Rules and Regulations under the Exchange
Act) listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
  
 (b) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission,
such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 
  
 (c) transmit by mail to all Securityholders, as their names
and addresses appear in the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (a) and (b) of this Section
as may be required by rules and regulations prescribed from time to time by the Commission. 
  
 ARTICLE EIGHT 
  
 Consolidation, Merger, Conveyance or Transfer 
  
 SECTION 801. Company May Consolidate, etc., only on Certain Terms. The Company shall not consolidate with or merge into any other Person or convey or transfer its properties and assets substantially as an entirety to any Person,
unless: 
  
 (1) the successor Person formed by
such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer the properties and assets of the Company substantially as an entirety shall be a corporation organized and 

  

 71 

 
existing under the laws of the Republic of Chile, and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in
form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or
observed; 
  
 (2) immediately after giving effect
to such transaction, no Event of Default, and no event which, after notice or lapse of time, or both, would become an Event of Default, shall have happened and be continuing; and 
  
 (3) prior to the consummation of such Transaction, the Company delivers to the Trustee an Officers’
Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction
have been complied with. 
  
 SECTION 802. Successor Corporation
Substituted. Upon any consolidation or merger, or any conveyance or transfer of the properties and assets of the Company substantially as an entirety in accordance with Section 801, the successor corporation formed by such consolidation or into
which the Company is merged or the Person to which such conveyance or transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor
Person had been named as the Company herein. In the event of any such conveyance or transfer, the Company as the predecessor corporation may be dissolved, wound up or liquidated at any time thereafter. 
  
 ARTICLE NINE 
  
 Supplemental Indentures 
  
 SECTION 901. Supplemental Indentures Without Consent of
Securityholders. Without the consent of the Holders of any Securities, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures 

  

 72 

 
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  
 (1) to evidence the succession of another corporation to the Company, and the assumption by any such
successor of the covenants of the Company herein and in the Securities contained; or 
  
 (2) to add to the covenants of the Company, or to surrender any right or power herein conferred upon the Company, for the benefit of the
Holders of the Securities of any or all series (and if such covenants or the surrender of such right or power are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included or such
surrenders are expressly being made solely for the benefit of one or more specified series); or 
  
 (3) to cure any ambiguity or defect, to correct or supplement any provision herein which may be inconsistent with any other provision
herein, or to make any other provisions with respect to matters or questions arising under this Indenture or the Securities or make any other changes herein or therein; or 
  
 (4) to add to this Indenture such provisions as may be expressly permitted by the TIA, excluding, however,
the provisions referred to in Section 316(a)(2) of the TIA as in effect at the date as of which this instrument was executed or any corresponding provision in any similar federal statute hereafter enacted; or 
  
 (5) to establish any form of Security, as provided in
Article Two, to provide for the issuance of any series of Securities as provided in and subject to the terms of Article Three (including the issuance of further securities having identical terms to the series of any Securities so that the further
issue is consolidated and forms a single series with the Securities), to set forth the terms thereof and/or to add to the rights of the Holders of the Securities of any series; or 
  
 (6) to evidence and provide for the acceptance of appointment by another corporation as a successor 

  

 73 

 
Trustee hereunder with respect to one or more series of Securities and to add to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to Section 611; or 
  
 (7) to add any additional Events of Default in respect of the Securities of any or all series (and if such additional Events of Default
are to be in respect of less than all series of Securities, stating that such Events of Default are expressly being included solely for the benefit of one or more specified series); or 
  
 (8) to provide for the issuance of Securities in bearer form, to the extent permitted by law, with coupons
as well as fully registered form. 
  
 No supplemental indenture
for the purposes identified in clauses (2), (3), (5) or (7) above may be entered into if to do so would adversely affect the interests of the Holders of the Securities in any material respect. 
  
 SECTION 902. Supplemental Indentures with Consent of Securityholders.
With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected by such supplemental indenture or indentures, by Act of said Holders delivered to the Company and the
Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
this Indenture or of modifying in any manner the rights of the Holders of the Securities of each such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each
Outstanding Security of such series adversely affected thereby, 
  
 (1) change the Maturity of the principal of, or the Stated Maturity of any premium on, or any installment of interest on, any Security of such series, or reduce the principal amount thereof or the rate of interest (or
Additional Amounts, if any) payable thereon, or change the method of computing the 

  

 74 

 
amount of principal thereof or interest (or Additional Amounts, if any) payable thereon on any date or change any Place of Payment where, or the coin or
currency in which, any Security of such Series or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Maturity or the Stated Maturity, as the case may be, thereof
(or, in the case of redemption or repayment, on or after the Redemption Date or the Repayment Date, as the case may be); or 
  
 (2) reduce the percentage in aggregate principal amount of the Outstanding Securities of such series, the consent of whose Holders is
required for any such supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences, provided for in this Indenture; or

  
 (3) modify any of the provisions of this
Section, Section 513 or Section 1012, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security of such series
affected thereby. 
  
 A supplemental indenture which changes or
eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
  
 It shall not be necessary for any Act of Securityholders under this Section to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such Act shall approve the substance thereof. 
  
 SECTION 903. Execution of Supplemental Indentures. In executing or accepting the additional trusts created by any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture,
the Trustee shall be entitled to 

  

 75 

 
receive, in addition to the documents required by Section 102, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not (except to the extent required in the case of a supplemental indenture entered into under Section 901(4) or
901(6)) be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties, indemnities or immunities under this Indenture or otherwise. 
  
 SECTION 904. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article,
this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be
bound thereby to the extent provided therein. 
  
 SECTION 905.
Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the TIA as then in effect. 
  
 SECTION 906. Reference in Securities to Supplemental Indentures. Securities authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the Company and authenticated and such Securities may be delivered by
the Trustee in exchange for Outstanding Securities. 
  
 ARTICLE TEN

  
 Covenants 
  
 SECTION 1001. Payment of Principal, Premium and Interest. With respect
to each series of Securities, the Company will duly and punctually pay the principal of (and premium, if any) and interest on such Securities in accordance with their terms and this Indenture, and will 

  

 76 

 
duly comply with all the other terms, agreements and conditions contained in, or made in the Indenture for the benefit of, the Securities of such series.

  
 SECTION 1002. Maintenance of Office or Agency. The
Company will maintain an office or agency in each Place of Payment where Securities may be presented or surrendered for payment, where Securities may be surrendered for transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and of any change in the location, of such office or agency. If at any time the Company shall fail to maintain
such office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the principal Corporate Trust Office of the Trustee, and the Company hereby appoints
the Trustee its agent to receive all such presentations, surrenders, notices and demands. 
  
 SECTION 1003. Money for Security Payments To Be Held in Trust. If the Company shall at any time act as its own Paying Agent for any series of Securities, it will, on or before each due date of the principal of
(and premium, if any) or interest on, any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure to so act. 
  
 Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, at least one Business Day prior to each due date of the
principal of (and premium, if any) or interest on, any Securities of such series, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of
the Persons entitled to such principal (and premium, if any) or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of its action or failure to so act. The Company will cause the bank
through which payment of funds to the Paying Agent will be made to deliver to the Paying Agent by 10:00 a.m. (New York time) two Business Days prior to the due date of such payment an irrevocable 

  

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confirmation (by tested telex or authenticated Swift MT 100 Message) of its intention to make such payment. 
  
 The Company will cause each Paying Agent other than the Trustee for any
series of Securities to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
  
 (1) hold all sums held by it for the payment of principal of
(and premium, if any) or interest on Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 
  
 (2) give the Trustee notice of any default by the Company
(or any other obligor upon the Securities of such series) in the making of any such payment of principal (and premium, if any) or interest on the Securities of such series; and 
  
 (3) at any time during the continuance of any such default, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
  
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture with respect to any series of Securities or for any other purpose, pay, or by Company Order direct any Paying
Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent in respect of each and every series of Securities as to which it seeks to discharge this Indenture or, if for any other purpose, all sums so held in trust by the
Company in respect of all Securities, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent
shall be released from all further liability with respect to such money. 
  
 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 (and premium, if any) or interest on any Security of any series and remaining
unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be 

  

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paid to the Company on 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. The
Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company mail to the Holders of the Securities as to which the money to be repaid was held in trust, as their names and addresses appear in the
Security Register, a notice that such moneys remain unclaimed and that, after a date specified in the notice, which shall not be less than 30 days from the date on which the notice was first mailed to the Holders of the Securities as to which the
money to be repaid was held in trust, any unclaimed balance of such moneys then remaining will be paid to the Company free of the trust formerly impressed upon it. 
  
 The Company initially authorizes the Trustee to act as Paying Agent for the Securities on its behalf. The Company may at any
time and from time to time authorize one or more Persons to act as Paying Agent in addition to or in place of the Trustee with respect to any series of Securities issued under this Indenture. 
  
 SECTION 1004. Statement as to Compliance. The Company will deliver to
the Trustee, within 120 days after the end of each fiscal year, a written statement signed by the principal executive officer, principal financial officer or principal accounting officer of the Company, stating that 
  
 (1) a review of the activities of the Company during such
year and of the Company’s performance under this Indenture and under the terms of the Securities has been made under his supervision; and 
  
 (2) to the best of his knowledge, based on such review, the Company has complied with all conditions and covenants under this Indenture
through such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to him and the nature and status thereof. 
  
 SECTION 1005. Corporate Existence. Subject to Article Eight, the Company will do or cause to be done all 

  

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things necessary to preserve and keep in full force and effect its corporate existence and will use its best efforts to do or cause to be done all things
necessary to preserve and keep in full force and effect its rights (charter and statutory) and franchises and such rights and franchises of its Subsidiaries; provided, however, that the Company shall not be required to preserve any
such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof is not
disadvantageous in any material respect to the Holders. 
  
 SECTION 1006. Limitation on Liens. (a) The Company will not, nor will it permit any Subsidiary to, issue, assume or guarantee any Indebtedness, if such Indebtedness is secured by a Lien upon any Specified Property now owned or
hereafter acquired, unless, concurrently with the issuance, assumption or guarantee of such Indebtedness, the Securities shall be secured equally and ratably with (or prior to) such Indebtedness; provided, however, that the foregoing
restriction shall not apply to: 
  
 (1) any Lien
on any property acquired, constructed or improved by the Company or any Subsidiary which is created, incurred or assumed contemporaneously with, or within 360 days after, such acquisition (or in the case of any such property constructed or improved,
after the completion or commencement of commercial operation of such property, whichever is later) to secure or provide for the payment of any part of the purchase price of such property or the costs of such construction or improvement (including
costs such as escalation, interest during construction and finance costs); provided that in the case of any such construction or improvement the Lien shall not apply to any such property theretofore owned by the Company or any Subsidiary,
other than any theretofore unimproved real property on which the property so constructed, or the improvement, is located; 
  
 (2) any Lien on any property existing at the time of acquisition thereof and which is not created as a result of or in connection with or
in anticipation of such acquisition (unless such Lien was created to secure or provide for the payment of any part of the 

  

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purchase price of such property and is otherwise permitted by paragraph (1) above); 
  
 (3) any Lien on any property of a corporation which is merged with or into the Company or a Subsidiary or
any Lien existing on property of a corporation which existed at the time such corporation becomes a Subsidiary and, in either such case, which is not created as a result of or in connection with or in anticipation of any such transaction (unless
such Lien was created to secure or provide for the payment of any part of the purchase price of such corporation and is otherwise permitted by paragraph (1) above); 
  
 (4) any Lien which secures only Indebtedness owing by a Subsidiary to the Company, to one or more
Subsidiaries or to the Company and one or more Subsidiaries; 
  
 (5) any Lien existing on the date of the Indenture; and 
  
 (6) any extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part, of any Lien referred
to in the foregoing clauses (1) through (5), inclusive; provided, however, that the principal amount of Indebtedness secured thereby shall not exceed the principal amount of Indebtedness so secured at the time of such extension,
renewal or replacement, and that such extension, renewal or replacement shall be limited to all or a part of the property which secured the Lien so extended, renewed or replaced (plus improvements on such property). 
  
 (b) Notwithstanding clause (a) of this Section or the
provisions of Section 1007, the Company or any Subsidiary may issue, assume or guarantee Indebtedness secured by a Lien which would otherwise be prohibited under the provisions of paragraph (a) of this Section or enter into Sale and Lease-Back
Transactions that would otherwise be prohibited by Section 1007, provided that the aggregate amount of such Indebtedness of the Company and its Subsidiaries together with the aggregate Attributable Value of all such Sale and Lease-Back
Transactions of the Company and its Subsidiaries at any time outstanding shall not exceed 15% of Consolidated Net Tangible Assets at the 
  

 81 

 
time any such Indebtedness is issued, assumed or guaranteed by the Company or any of its Subsidiaries or at the time any such Sale and Lease-Back Transaction
is entered into. 
  
 SECTION 1007. Limitations on Sale and
Lease-Back Transactions. Neither the Company nor any Subsidiary may enter into any Sale and Lease-Back Transaction with respect to any Specified Property, unless either (x) the Company or such Subsidiary would be entitled pursuant to Section
1006 to issue, assume or guarantee Indebtedness secured by a Lien on such Specified Property without equally and ratably securing the Securities or (y) the Company or such Subsidiary shall apply or cause to be applied, in the case of a sale or
transfer for cash, an amount equal to the net proceeds thereof and, in the case of a sale or transfer otherwise than for cash, an amount equal to the fair market value of the Specified Property so leased, to the retirement, within 360 days after the
effective date of such Sale and Lease-Back Transaction, of Indebtedness of the Company ranking at least on a parity with the Securities and owing to a Person other than the Company or any Affiliate of the Company or to the construction or
improvement of real property or personal property used by the Company or any Subsidiary in the ordinary course of business. The restrictions set forth in the preceding sentence will not apply to (i) transactions providing for a lease for a term,
including any renewal thereof, of not more than five years and (ii) transactions between the Company and a Subsidiary or between Subsidiaries. 
  
 SECTION 1008. Maintenance of Properties. The Company will cause all tangible properties used or useful in the conduct of its business or the
business of any Subsidiary to be maintained and kept in good condition, repair and working order and supplied with such equipment and will cause to be made such repairs, renewals, replacements, betterments and improvements thereof, all as in the
judgment of the Company may be reasonably necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section 1008 shall prevent
the Company from discontinuing the operation or maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the business of 
  

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any Subsidiary and not disadvantageous in any material respect to the Holders. 
  
 SECTION 1009. Maintenance of Insurance. The Company shall maintain, and shall cause each of its Subsidiaries to
maintain, with insurers the Company reasonably believes to be financially sound and reputable, insurance deemed adequate by the Company with respect to its properties and business and the properties and business of its Subsidiaries against loss or
damage of the kinds customarily insured against by corporations in the same or similar business and owning and/or operating properties similar to those owned and/or operated by the Company or its Subsidiaries. Such insurance may be subject to
co-insurance deductibility or similar clauses which, in effect, result in self-insurance of certain losses, provided that such self-insurance is in accord with the practices of corporation in the same or similar business and adequate insurance
reserves are maintained in connection with such self-insurance. 
  
 SECTION 1010. Maintenance of Books and Records. The Company shall, and shall cause each of its Subsidiaries to, maintain books, accounts and records in accordance with generally accepted accounting principles as applied in the
Republic of Chile or in the applicable jurisdiction. 
  
 SECTION
1011. Further Assurances. The Company shall, at its own cost and expense, execute and deliver to the Trustee all such other documents, instruments and agreements and do all such other acts and things as may be reasonably required, in the
opinion of the Trustee, to enable the Trustee to exercise and enforce its rights under this Indenture and under the documents, instruments and agreements required under this Indenture and to carry out the intent of this Indenture. 
  
 SECTION 1012. Waiver of Certain Covenants. The Company may omit in
respect of any series of Securities, in any particular instance, to comply with any covenant or condition set forth in Sections 1006 and 1007, if before or after the time for such compliance the Holders of at least a majority in aggregate principal
amount of the Securities at the time Outstanding of such series shall, by Act of such Securityholders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or
affect such covenant or condition except to the extent so 
  

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expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant
or condition shall remain in full force and effect. 
  
 ARTICLE
ELEVEN 
  
 Redemption of Securities 
  
 SECTION 1101. Applicability of Article. The Company may reserve the
right to redeem and pay before Stated Maturity all or any part of the Securities of any series, either by optional redemption, sinking or purchase fund or analogous obligation or otherwise, by provision therefor in the form of Security for such
series established and approved pursuant to Section 202 and on such terms as are specified in such form or in the Board Resolution or indenture supplemental hereto with respect to Securities of such series as provided in Section 301. Redemption of
Securities of any series shall be made in accordance with the terms of such Securities and, to the extent that this Article does not conflict with such terms, the succeeding Sections of this Article. 
  
 SECTION 1102. Election to Redeem; Notice to Trustee. The election of
the Company to redeem any Securities redeemable at the election of the Company shall be evidenced by, or made pursuant to authority granted by, a Board Resolution. In case of any redemption at the election of the Company of any Securities of any
series, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee in writing of such Redemption Date and of the principal amount of
Securities of such series to be redeemed. 
  
 In the case of any
redemption of Securities (i) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, or (ii) pursuant to an election of the Company which is subject to a condition
specified in the terms of such Securities, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction or condition. 
  
 SECTION 1103. Selection by Trustee of Securities to be Redeemed. If less than all the Securities of like tenor and
terms of any series are to be redeemed, the 
  

 84 

 
particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by lot or such method as the Trustee shall deem fair and appropriate and which may include provision for the selection for redemption of portions of the principal of Securities of such series of a
denomination larger than the minimum authorized denomination for Securities of that series. Unless otherwise provided in the terms of a particular series of Securities, the portions of the principal of Securities so selected for partial redemption
shall be equal to the minimum authorized denomination of the Securities of such series, or an integral multiple thereof, and the principal amount which remains outstanding shall not be less than the minimum authorized denomination for Securities of
such series. If less than all the Securities of unlike tenor and terms of a series are to be redeemed, the particular Securities to be redeemed shall be selected by the Company. 
  
 The Trustee shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any
Security selected for partial redemption, the principal amount thereof to be redeemed. 
  
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or to be redeemed only in part, to
the portion of the principal of such Security which has been or is to be redeemed. 
  
 SECTION 1104. Notice of Redemption. Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of
Securities to be redeemed, at its address appearing in the Security Register. 
  
 All notices of redemption shall state: 
  
 (1) the Redemption Date; 
  
 (2) the Redemption Price; 
  
 (3) if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the 
  

 85 

 
respective principal amounts) of the Securities to be redeemed, from the Holder to whom the notice is given; 
  
 (4) that on the Redemption Date the Redemption Price will
become due and payable upon each such Security, and that interest, if any, thereon shall cease to accrue from and after said date; 
  
 (5) the place where such Securities are to be surrendered for payment of the Redemption Price, which shall be the office or agency of the
Company in the Place of Payment; and 
  
 (6) if
applicable, that the redemption is on account of a sinking or purchase fund, or other analogous obligation. 
  
 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s Request, by the
Trustee in the name and at the expense of the Company. 
  
 SECTION
1105. Deposit of Redemption Price. At least one Business Day prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 1003) an amount of money sufficient to pay the Redemption Price of all the Securities which are to be redeemed on that date. The Company will cause the bank through which payment of funds to the Paying Agent will be made to
deliver to the Paying Agent by 10:00 a.m. (New York Time) two Business Days prior to the due date of such payment an irrevocable confirmation (be tested telex or authenticated Swift MT 100 Message) of its intention to make such payment. 

 
 SECTION 1106. Securities Payable on Redemption Date. Notice of
Redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified and from and after such date (unless the Company shall default in the payment
of the Redemption Price) such Securities shall cease to bear interest. Upon surrender of such Securities for redemption in accordance with the notice, such Securities shall be paid by the Company at the Redemption Price. Installments of interest the
Stated Maturity of which is on or prior to the 
  

 86 

 
Redemption Date shall be payable to the Holders of such Securities registered as such on the relevant Regular Record Dates according to their terms and the
provisions of Section 307. 
  
 If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid, bear interest from the Redemption Date at the rate borne by the Security, or as otherwise provided in such Security. 
  
 SECTION 1107. Securities Redeemed in Part. Any Security which is to be
redeemed only in part shall be surrendered at the office or agency of the Company in the Place of Payment with respect to that series (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or its attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series and Stated Maturity and of like tenor and terms, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of
the principal of the Security so surrendered. 
  
 SECTION 1108.
Provisions with Respect to any Sinking Funds. Unless the form or terms of any series of Securities shall provide otherwise, in lieu of making all or any part of any mandatory sinking fund payment with respect to such series of Securities in
cash, the Company may at its option (1) deliver to the Trustee for cancellation any Securities of such series theretofore acquired by the Company, or (2) receive credit for any Securities of such series (not previously so credited) acquired by the
Company and theretofore delivered to the Trustee for cancellation or redeemed by the Company other than through the mandatory sinking fund, and if it does so then (i) Securities so delivered or credited shall be credited at the applicable sinking
fund Redemption Price with respect to Securities of such series, and (ii) on or before the 60th day next preceding each sinking fund Redemption Date with respect to such series of Securities, the Company will deliver to the Trustee (A) an
Officers’ Certificate specifying the portions of such sinking fund payment to be satisfied by payment of cash and by delivery 
  

 87 

 
or credit of Securities of such series acquired by the Company or so redeemed, and (B) such Securities so acquired, to the extent not previously surrendered.
Such Officers’ Certificate shall also state the basis for such credit and that the Securities for which the Company elects to receive credit have not been previously so credited and were not redeemed by the Company through operation of the
mandatory sinking fund, if any, provided with respect to such Securities and shall also state that no Event of Default with respect to Securities of such series has occurred and is continuing. All Securities so delivered to the Trustee shall be
cancelled by the Trustee and no Securities shall be authenticated in lieu thereof. 
  
 If the sinking fund payment or payments (mandatory or optional) with respect to any series of Securities made in cash plus any unused balance of any preceding sinking fund payments with respect to Securities of such
series made in cash shall exceed $50,000 (or a lesser sum if the Company shall so request), unless otherwise provided by the terms of such series of Securities, that cash shall be applied by the Trustee on the sinking fund Redemption Date with
respect to Securities of such series next following the date of such payment to the redemption of Securities of such series at the applicable sinking fund Redemption Price with respect to Securities of such series, together with accrued interest, if
any, to the date fixed for redemption, with the effect provided in Section 1106. The Trustee shall select, in the manner provided in Section 1103, for redemption on such sinking fund Redemption Date a sufficient principal amount of Securities of
such series to utilize that cash and shall thereupon cause notice of redemption of the Securities of such series for the sinking fund to be given in the manner provided in Section 1104 (and with the effect provided in Section 1106) for the
redemption of Securities in part at the option of the Company. Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Securities of such series shall be added to the next cash sinking fund payment with respect to
Securities of such series received by the Trustee and, together with such payment, shall be applied in accordance with the provisions of this Section 1108. Any and all sinking fund moneys with respect to Securities of any series held by the Trustee
at the Maturity of Securities of such series, and not held for the payment or redemption of particular Securities of such series, shall be applied by the Trustee, together with 
  

 88 

 
other moneys, if necessary, to be deposited sufficient for the purpose, to the payment of the principal of the Securities of such series at Maturity.

  
 On or before each sinking fund Redemption Date provided with
respect to Securities of any series, the Company shall pay to the Trustee in cash a sum equal to all accrued interest, if any, to the date fixed for redemption on Securities to be redeemed on such sinking fund Redemption Date pursuant to this
Section 1108. 
  
 SECTION 1109. Optional Redemption in the
Event of Change in Tax Treatment. The Securities of any series may be redeemed at the election of the Company, as a whole, but not in part, at any time upon the giving of notice as provided in Section 1104, at the Redemption Price, together with
any accrued interest to the Redemption Date, if the Company certifies to the Trustee immediately prior to the giving of such notice that the Company has or will become obligated to pay (x) Additional Amounts with respect to the Securities of such
series as a result of any change in or amendment to the laws or regulations of Panama or any other jurisdiction other than the Republic of Chile in which the Company is organized or engaged in business for tax purposes, or in each case, any
political subdivision or governmental authority thereof or therein having the power to tax, or any change in the application or official interpretation of such laws or regulations, which change or amendment occurs after the date of issuance of the
Securities of such series or (y) Additional Amounts with respect to the Securities in excess of the Additional Amounts that would be payable were payments of interest on the Securities subject to a Chilean 4.0% withholding tax as a result of any
change in or amendment to the laws or regulations of the Republic of Chile or any political subdivision or governmental authority thereof or therein having the power to tax, or any change in the application or official interpretation of such laws or
regulations, which change or amendment occurs after the date of issuance of the Securities and, in the case of either (x) or (y), such obligations cannot be avoided by the Company taking reasonable measures available to it; provided,
however, that no such notice of redemption shall be given earlier than 60 days prior to the earliest date on which the Company would be obligated to pay such Additional Amounts if a payment in respect of the Securities were then due. Prior to
the effective date of any notice of redemption of 
  

 89 

 
the Securities of such series pursuant to this Indenture, the Company shall deliver to the Trustee an Officers’ Certificate, stating that the Company is
entitled to effect such a redemption pursuant to this Indenture, and setting forth in reasonable detail a statement of the facts giving rise to such right of redemption (together with a written Opinion of Counsel to the effect, among other things,
that the Company has become obligated to pay such Additional Amounts as a result of a change or amendment described in this Section and that the Company cannot avoid payment of such Additional Amounts by taking reasonable measures available to the
Company and that all governmental approvals necessary for the Company to effect such redemption have been obtained and are in full force and effect or specifying any such necessary approvals that as of the date of such opinion have not been
obtained). 
  
 ARTICLE TWELVE 
  
 Defeasance and Covenant Defeasance 
  
 SECTION 1201. Company’s Option to Effect Defeasance or Covenant
Defeasance. The Company may at its option by Board Resolution, at any time, elect to have either Section 1202 or Section 1203 applied to the Outstanding Securities of any series upon compliance with the conditions set forth below in this Article
Twelve. 
  
 SECTION 1202. Defeasance and Discharge. Upon
the Company’s exercise of the option provided in Section 1201 to have this Section 1202 applied to all the Outstanding Securities of any series, the Company shall be deemed to have been discharged from its obligations with respect to such
Outstanding Securities on the date the conditions in Section 1204 are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by all the Outstanding Securities of any series and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall
execute proper instruments acknowledging the same) except for the following, which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Securities to receive, solely from the trust fund described in
Section 1204 and as more fully set forth in such Section, payments in respect of the principal of and 
  

 90 

 
premium, if any, Additional Amounts, if any, and interest on such Securities when such payments are due, (b) the Company’s obligations with respect to
such Securities under Sections 304, 305, 306, 308, 1002 and 1003, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (d) this Article Twelve and the Company’s obligations to the Trustee under Section 607. Subject
to compliance with this Article Twelve, the Company may exercise its option under this Section 1202 notwithstanding the prior exercise of its option under Section 1203. 
  
 SECTION 1203. Covenant Defeasance. Upon the Company’s exercise of the option provided in Section 1201 to have
this Section 1203 applied to all the Outstanding Securities of any series, (i) the Company shall be released from its obligations under Sections 1006 and 1007 with respect to such Securities and (ii) the occurrence of an event with respect to such
Securities specified in Sections 501(3) (with respect to any of Sections 1006 and 1007), 501(4) or 501(5) shall not be deemed to be an Event of Default on and after the date the conditions set forth in Section 1204 are satisfied (hereinafter,
“covenant defeasance”). For this purpose, such covenant defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in
any such Section or clause, whether directly or indirectly by reason of any reference elsewhere herein to any such Section or clause or by reason of any reference in any such Section or clause to any other provision herein or in any other document,
but the remainder of this Indenture, with respect to such Securities and Securities of another series as to which the Company has not elected to have either Section 1202 or 1203 applied, shall be unaffected thereby. 
  
 SECTION 1204. Conditions to Defeasance or Covenant Defeasance. The
following shall be the conditions to application of either Section 1202 or Section 1203 to the then Outstanding Securities of the applicable series: 
  
 (1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the
requirements of Section 609 who shall agree to comply with the provisions of this Article Twelve applicable to it) in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to, the benefit
of the Holders of all Outstanding Securities 
  

 91 

 
of the applicable series, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect
thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, sufficient, in the opinion of an internationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, the principal of (and premium, if any, and
Additional Amounts, if any) and each installment of interest on the applicable series of Securities on the Stated Maturity of such principal of (and premium, if any, and Additional Amounts, if any) or installment of interest in accordance with the
terms of this Indenture and of such series of Securities. 
  
 (2) In the case of an election under Section 1202, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (x) the Company has received from, or there has been published by, the Internal
Revenue Service a ruling, or (y) since the date of this Indenture there has been a change in the applicable United States Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of
the Outstanding Securities with respect to such series of Securities will not recognize gain or loss for United States Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to United States Federal
income tax on the same amount, in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred. 
  

(3) In the case of an election under Section 1203, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that the Holders of the Outstanding Securities of the applicable series will not recognize gain or loss for United States Federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to United States Federal
income tax on the same amount, in the same manner and at the same times 
  

 92 

 
as would have been the case if such deposit and covenant defeasance had not occurred. 
  
 (4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect that such
series of Securities, if then listed on any securities exchange, will not be delisted as a result of such deposit. 
  
 (5) No Event of Default or event which with notice or lapse of time or both would become an Event of Default shall have occurred and be
continuing on the date of such deposit or, insofar as subsections 501(6) and (7) inclusive are concerned, at any time during the period ending on the 121st day after the date of such deposit (it being understood that this condition shall not be
deemed satisfied until the expiration of such period). 
  
 (6) Such defeasance or covenant defeasance shall not cause the Trustee to have a conflicting interest as defined in Section 608 and for purposes of the Trust Indenture Act with respect to any securities of the Company. 
  
 (7) Such defeasance or covenant defeasance shall not result
in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound. 
  
 (8) The Company shall have delivered to the Trustee an Opinion of Counsel to the effect that payment of amounts deposited in trust with
the Trustee as provided in clause (1) hereof will not be subject to future taxes, duties, fines, penalties, assessments or other governmental charges imposed, levied, collected, withheld or assessed by, within or on behalf of Panama or the Republic
of Chile or any political subdivision or governmental authority thereof or therein having power to tax, except to the extent that Additional Amounts in respect thereof shall have been deposited in trust with the Trustee as provided in clause (1)
hereof. 
  
 (9) 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 either the defeasance under 
  

 93 

 
Section 1202 or the covenant defeasance under Section 1203, as the case may be, have been complied with. 
  
 (10) Such defeasance or covenant defeasance shall not result
in the trust arising from such deposit constituting an investment company as defined in the Investment Company Act of 1940, as amended. 
  
 SECTION 1205. Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions. Subject to the provisions of
Section 1003, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively, for purposes of this Section, the “Trustee”) pursuant to Section 1204 in
respect of the Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting
as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal (and 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 U.S. Government Obligations deposited pursuant to Section 1204 or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of the applicable series of Outstanding Securities. 
  
 Anything in this Article Twelve to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request
any money or U.S. Government Obligations held by it as provided in Section 1204 which, in the opinion of an internationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are
in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance. 
  
 Reinstatement. If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 1202 
  

 94 

 
or 1203 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 this Article Twelve until such time as the Trustee or Paying Agent is permitted to apply all such money
in accordance with Section 1202 or 1203; provided, however, that if the Company makes any payment of principal of or interest on or Additional Amounts in respect of any Security following the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such series of Securities to receive such payment from the money held by the Trustee or the Paying Agent. 
  

 95 

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

	 CELULOSA ARAUCO Y
 CONSTITUCION S.A., acting
 through its Panamanian agency,

		
	 by
	 	 
	 	 	 /s/ Matías Domeyko

	 Name: Matías Domeyko

	 Title: CFO

		
	 by
	 	 
	 	 	 /s/ Gianfranco Truffello

	 Name: Gianfranco Truffello

	 Title: Finance Manager

	
	 JPMORGAN CHASE BANK, as
 Trustee

		
	 by
	 	 
	 	 	 /s/ William Potes

	 Name: William Potes

	 Title: Trust Officer

  

 96 

 Celulosa Arauco y Constitucion S.A. represents, acknowledges and agrees that all the obligations of
Celulosa Arauco y Constitucion S.A. acting through its Panamanian agency under this Indenture and the Securities are obligations of Celulosa Arauco y Constitucion S.A. 
  

	 CELULOSA ARAUCO Y
 CONSTITUCION S.A.

		
	 by
	 	 
	 	 	 /s/ Matías Domeyko

	 Name: Matías Domeyko

	 Title: CFO

		
	 by
	 	 
	 	 	 /s/ Gianfranco Truffello

	 Name: Gianfranco Truffello

	 Title: Finance Manager

  

 97 

 Appendix A 
  
 FOR OFFERINGS TO QUALIFIED INSTITUTIONAL BUYERS PURSUANT TO 
 RULE 144A AND TO CERTAIN PERSONS IN OFFSHORE TRANSACTIONS 
 IN RELIANCE ON REGULATION S

  
 PROVISIONS RELATING TO SECURITIES, 
 PRIVATE EXCHANGE SECURITIES AND EXCHANGE SECURITIES 
  
 1. Definitions 
  
 1.1 Definitions 
  
 For the purposes of this Appendix A the following terms shall have the meanings indicated below: 
  
 “Applicable Procedures” means, with respect to any transfer or
transaction involving a Regulation S Global Security or beneficial interest therein, the rules and procedures of the Depositary for such Global Security, of Euroclear and of Clearstream, in each case to the extent applicable to such transaction and
as in effect from time to time. 
  
 “Clearstream” means
Clearstream Banking, societe anonyme, or any successor securities clearing agency. 
  
 “Definitive Security” means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is restricted by applicable law) that does not include the Global Securities
Legend. 
  
 “Euroclear” means the Euroclear Clearance
System or any successor securities clearing agency. 
  
 “Exchange Securities” means Securities to be issued pursuant to this Indenture (i) in connection with a Registered Exchange Offer pursuant to a Registration Agreement in exchange for Securities of the same series with interest
payable on such Exchange Securities accruing from the last date on which interest was paid on the Securities for which they were exchanged or, if no such interest has been paid, from the date of issuance of the Securities, or (ii) as otherwise set
forth in or pursuant to a Board Resolution or indenture supplemental hereto. 
  
 “Global Securities Legend” means the legend set forth under that caption in Exhibit A-1 to this Indenture. 

 “Initial Purchasers” initial purchasers, underwriters, managers, dealers, agents or other
distributors set forth in the Purchase Agreement relating to a particular series of Securities to be issued under the Indenture. 
  
 “Private Exchange” means an offer by the Company, pursuant to a Registration Agreement, to issue and deliver to certain purchasers, in exchange
for the Securities held by such purchasers as part of their initial distribution, a like aggregate principal amount of Private Exchange Securities. 
  
 “Private Exchange Securities” means the Securities to be issued pursuant to this Indenture in connection with a Private Exchange pursuant to a
Registration Agreement in exchange for Securities of the same series with interest payable on such Private Exchange Securities accruing from the last date on which interest was paid on the Securities for which they were exchanged or, if no such
interest has been paid, from the date of issuance of the Securities pursuant to this Indenture. 
  
 “Purchase Agreement” means a purchase, underwriting, subscription or agency agreement among the Company and the Initial Purchasers in respect of
the sale and distribution of the Securities of a series. 
  
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 
  
 “Registered Exchange Offer” means an offer by the Company, pursuant to a Registration Agreement, to certain Holders of Securities, to issue and
deliver to such Holders, in exchange for their Securities, a like aggregate principal amount of Exchange Securities registered under the Securities Act. 
  
 “Registration Agreement” means an agreement among the Company and the Initial Purchasers relating to an offer by the Company to Holders of
Securities to exchange such Securities for Exchange Securities or Private Exchange Securities. 
  
 “Regulation S” means Regulation S under the Securities Act. 
  

 2 

 “Regulation S Securities” means all Securities offered and sold outside the United States in
reliance on Regulation S. 
  
 “Restricted Period”, with
respect to any Securities, means the period of 40 consecutive days beginning on and including the later of (i) the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities
Act) in reliance on Regulation S and (ii) the date on which the closing of the offering thereof occurs. 
  
 “Restricted Securities Legend” means the legend set forth under that caption in Exhibit A-1 to this Indenture. 
  
 “Rule 501” means Rule 501(a)(1), (2), (3) or (7) under the
Securities Act. 
  
 “Rule 144A” means Rule 144A under
the Securities Act. 
  
 “Rule 144A Securities” means all
Securities offered and sold to QIBs in reliance on Rule 144A. 
  
 “Securities Custodian” means the custodian with respect to a Global Security (as appointed by the Depositary) or any successor person thereto, which shall initially be the Trustee. 
  
 “Shelf Registration Statement” means a registration statement filed
by the Company in connection with the offer and sale of Securities pursuant to a Registration Agreement. 
  
 “Transfer Restricted Securities” means Definitive Securities and any other Securities that bear or are required to bear the Restricted
Securities Legend. 
  
 1.2 Other Definitions 
  

 3 

	 Term:

	  	Defined in Section:

	 
	 “Agent Members”
	  	2.1	(b)
		
	 “Global Security”
	  	2.1	(a)
		
	 “Regulation S Global Security”
	  	2.1	(a)
		
	 “Rule 144A Global Security”
	  	2.1	(a)

  
 2. The
Securities 
  
 2.1 Form and Dating 
  
 Securities sold pursuant to a Purchase Agreement by the Company to Initial
Purchasers will be resold, initially only to (A) QIBs in reliance on Rule 144A and (B) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Securities and any other Securities issued hereunder may thereafter
be transferred to any Person, but subject to the restrictions on transfers set forth therein and herein. 
  
 (a) Global Securities. Each of the Rule 144A Securities and the Regulation S Securities shall be issued initially in the form of one or more
permanent Global Securities (collectively, with respect to any series, the “Rule 144A Global Security” and the “Regulation S Global Security”, respectively) in definitive, fully registered form, in each case without interest
coupons and bearing the Global Securities Legend and Restricted Securities Legend, which shall be deposited with the Trustee, at its New York office, as Securities Custodian (or with such other custodian as the Depositary may direct), and registered
in the name of the Depositary or a nominee of the Depositary. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee
as hereinafter provided. 
  
 (b) Book-Entry Provisions.

  
 Members of, or participants in, the Depositary (“Agent
Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or by the Trustee as Securities Custodian or under such Global Security, and the Depositary may be 

  

 4 

 
treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such Global Security for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as
between the Depositary and its Agent Members, the operation of customary practices of such Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Security. 
  
 (c) Definitive Securities. Except as provided in Section 204, Section
2.3 or this Section 2.1 or as otherwise provided in the Indenture, owners of beneficial interests in Global Securities will not be entitled to receive physical delivery of certificated Securities. 
  
 2.2 Exchange Securities and Private Exchange Securities. Exchange
Securities shall be issued hereunder only in a Registered Exchange Offer and Private Exchange Securities shall be issued hereunder only in a Private Exchange, in each case, pursuant to a Registration Agreement and for a like principal amount of
Securities exchanged pursuant thereto. All Private Exchange Securities and Exchange Securities shall be deemed to be part of and constitute a single series consisting of such Exchange Securities or Private Exchange Securities and the Securities for
which such Exchange Securities or Private Exchange Securities were exchangeable and, without limiting the generality of the foregoing, such Exchange Securities, Private Exchange Securities and Securities shall vote together as one series of
Securities under this Indenture. 
  
 2.3 Transfer and
Exchange. (a) Transfer and Exchange of Definitive Securities. When Definitive Securities are presented to the Security Registrar with a request: 
  
 (x) to register the transfer of such Definitive Securities; or 
  
 (y) to exchange such Definitive Securities for an equal principal amount of Definitive Securities of other
authorized denominations, 
  
 the Security Registrar shall register the transfer
or make the exchange as requested if its reasonable requirements 

  

 5 

 
for such transaction are met; provided, however, that the Definitive Securities surrendered for registration of transfer or exchange:

  
 (i) shall be duly endorsed or accompanied by
a written instrument of transfer in form reasonably satisfactory to the Company and the Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing; and 
  
 (ii) are being transferred or exchanged pursuant to an
effective registration statement under the Securities Act, pursuant to Section 2.3(b) or pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional information and documents, as applicable: 
  
 (A) if such Definitive Securities are being delivered to the
Security Registrar by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect (in the form set forth on the reverse of the Security); or 
  
 (B) if such Definitive Securities are being transferred to
the Company, a certification to that effect (in the form set forth on the reverse of the Security); or 
  
 (C) if such Definitive Securities are being transferred pursuant to an exemption from registration in accordance with Rule 144 or in
reliance on another exemption from the registration requirements of the Securities Act, (i) a certification to that effect (in the form set forth on the reverse of the Security) and (ii) if the Company or Security Registrar so requests, an opinion
of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth in Section 2.3(e)(i). 
  
 (b) Restrictions on Transfer of a Definitive Security for a Beneficial Interest in a Global Security. A Definitive Security may not be exchanged
for a beneficial interest in a Global Security except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Security, duly endorsed or 

  

 6 

 
accompanied by appropriate instruments of transfer in form satisfactory to the Trustee, together with: 
  
 (i) certification (in the form set forth on the reverse of
the Security) that such Definitive Security is being transferred (A) to a QIB in accordance with Rule 144A or (B) outside the United States in an offshore transaction within the meaning of Regulation S and in compliance with Rule 904 under the
Securities Act; and 
  
 (ii) written instructions
directing the Trustee to make, or to direct the Securities Custodian to make, an adjustment on its books and records with respect to such Global Security to reflect an increase in the aggregate principal amount of the Securities represented by the
Global Security, such instructions to contain information regarding the Depositary account to be credited with such increase, 
  
 then the Trustee shall cancel such Definitive Security and cause, or direct the Securities Custodian to cause, in accordance with the standing instructions and procedures
existing between the Depositary and the Securities Custodian, the aggregate principal amount of Securities represented by the Global Security to be increased by the aggregate principal amount of the Definitive Security to be exchanged and shall
credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Global Security equal to the principal amount of the Definitive Security so canceled. If no Global Securities are then
outstanding and the Global Security has not been previously exchanged for individual securities pursuant to Section 204, the Company shall issue and the Trustee shall authenticate, upon Company Order, a new Global Security in the appropriate
principal amount. 
  
 (c) Transfer and Exchange of Global
Securities. 
  
 (i) The transfer and exchange
of Global Securities or beneficial interests therein shall be effected through the Depositary, in accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor.
A transferor of a beneficial interest in a Global Security shall deliver a written order given in accordance with the Depositary’s procedures containing information 

  

 7 

 
regarding the participant account of the Depositary to be credited with a beneficial interest in the Global Security and such account shall be credited in
accordance with such order with a beneficial interest in the Global Security and the account of the Person making the transfer shall be debited by an amount equal to the beneficial interest in the Global Security being transferred. Transfers by an
owner of a beneficial interest in the Rule 144A Global Security to a transferee who takes delivery of such interest through the Regulation S Global Security, whether before or after the expiration of the Restricted Period, shall be made only upon
receipt by the Trustee of a certification from the transferor to the effect that such transfer is being made in accordance with Regulation S or (if available) Rule 144 under the Securities Act. 
  
 (ii) If the proposed transfer is a transfer of a beneficial
interest in one Global Security to a beneficial interest in another Global Security, the Security Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Security to which such interest is
being transferred in an amount equal to the principal amount of the interest to be so transferred, and the Security Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of Global Security
from which such interest is being transferred. 
  
 (iii) Notwithstanding any other provisions of this Appendix (other than the provisions set forth in Section 204), a Global Security may not be transferred as a whole except by the Depositary to a nominee of the Depositary or by a nominee of
the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. 
  
 (iv) In the event that a Global Security is exchanged for Securities in definitive registered form pursuant
to Section 204, prior to the consummation of a Registered Exchange Offer or the sale of a Security pursuant to an effective Shelf Registration Statement with respect to such Securities, such Securities may be transferred or exchanged only in
accordance with such procedures as are substantially consistent with 

  

 8 

 
the provisions of this Section 2.3 (including the certification requirements set forth on the reverse of the Securities intended to ensure that such
transfers comply with Rule 144A, Regulation S or such other applicable exemption from registration under the Securities Act, as the case may be) and such other reasonable procedures as may from time to time be adopted by the Company. 
  
 (d) Restrictions on Transfer of Regulation S Global Security. (i)
During the Restricted Period, beneficial ownership interests in the Regulation S Global Security may only be sold, pledged or transferred in accordance with the Applicable Procedures and only (A) to the Company, (B) so long as such security is
eligible for resale pursuant to Rule 144A, to a person whom the transferor reasonably believes is a QIB that purchases for its own account or for the account of a QIB to whom notice is given that the resale, pledge or transfer is being made in
reliance on Rule 144A, (C) in an offshore transaction in accordance with Regulation S, (D) pursuant to an exemption from registration under the Securities Act provided by Rule 144 (if applicable) under the Securities Act or (E) pursuant to an
effective registration statement under the Securities Act, in each case in accordance with any applicable securities laws of any state of the United States. Prior to the expiration of the Restricted Period, transfers by an owner of a beneficial
interest in the Regulation S Global Security to a transferee who takes delivery of such interest through the Rule 144A Global Security shall be made only in accordance with Applicable Procedures and upon receipt by the Trustee of a written
certification from the transferor of the beneficial interest in the form provided on the reverse of the Security to the effect that such transfer is being made to a person whom the transferor reasonably believes is a QIB within the meaning of Rule
144A in a transaction meeting the requirements of Rule 144A. Such written certification shall no longer be required after the expiration of the Restricted Period. 
  
 (ii) Upon the expiration of the Restricted Period, beneficial ownership interests in the Regulation S Global
Security shall be transferable in accordance with applicable law and the other terms of this Indenture. 
  
 (e) Legend. 
  

 9 

 (i) Except as permitted by the following paragraphs (ii), (iii), (iv), (vi) or (vii),
each Security certificate evidencing the Global Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a Restricted Securities Legend. Each Definitive Security will also bear
the following additional legend: 
  
 “IN CONNECTION WITH ANY
TRANSFER, THE HOLDER WILL DELIVER TO THE SECURITY REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.”

  
 (ii) Upon any sale or transfer pursuant to
Rule 144 of a Transfer Restricted Security that is a Definitive Security, the Security Registrar shall permit the Holder thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above
and rescind any restriction on the transfer of such Transfer Restricted Security if the Holder certifies in writing to the Security Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form
set forth on the reverse of the Security). 
  
 (iii) After a transfer of any Securities pursuant to an effective Shelf Registration Statement with respect to such Securities, all requirements pertaining to the Restricted Securities Legend on such Securities will cease to apply, and a
Global Security without the Restricted Securities Legend will be available to the transferee of the beneficial interests in such Securities. Upon the occurrence of any of the circumstances described in this paragraph, the Company will deliver an
Officers’ Certificate to the Trustee instructing the Trustee to issue Securities without legends. 
  
 (iv) Upon the consummation of a Registered Exchange Offer with respect to any Securities pursuant to which certain Holders of such
Securities are offered Exchange Securities (other than Private Exchange Securities) in exchange for their Securities, Exchange Securities (other than Private Exchange 
  

 10 

 
Securities) in global form without the Restricted Securities Legend will be available to Holders that exchange such Securities in such Registered Exchange
Offer. Upon the occurrence of any of the circumstances described in this paragraph, the Company will deliver an Officers’ Certificate to the Trustee instructing the Trustee to issue Securities without the Restricted Securities Legend.

  
 (v) Upon the consummation of a Private
Exchange with respect to the Securities pursuant to which Holders of such Securities are offered Private Exchange Securities in exchange for their Securities, Private Exchange Securities in global form with the Restricted Securities Legend shall be
available to Holders that exchange such Securities in such Private Exchange. 
  
 (vi) Upon a sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to Regulation S, all requirements that such Security bear the Restricted Securities Legend shall cease to
apply and a Security in global form without the Restricted Securities Legend may be issued to the transferee of such Security. 
  
 (vii) Any Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend. 
  

 11

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