Document:

MICSA RCF -Revolving Credit Agreement (Execution Version)

Execution Version

$600,000,000

REVOLVING CREDIT AGREEMENT

dated as of October 15, 2020 among
MILLICOM INTERNATIONAL CELLULAR S.A.,
as Borrower,

THE LENDERS NAMED HEREIN,
as Lenders,
THE BANK OF NOVA SCOTIA,
as Administrative  Agent,

BNP PARIBAS,
as Documentation Agent,

DNB BANK ASA, SWEDEN BRANCH,
as ESG Coordinator, and
THE BANK OF NOVA SCOTIA, and

BGL BNP PARIBAS S.A.
as Joint Bookrunners and Joint Mandated Lead Arrangers

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Article I Definitions    1
Section 1.01    Defined Terms    1
Section 1.02    Classification of Loans and Borrowings    49
Section 1.03    Terms Generally    49
Section 1.04    Accounting Terms; IFRS    49
Section 1.05    Rounding    50
Section 1.06    Time of Day    50
Section 1.07    Currency Equivalents    50
Section 1.08    LIBOR Notification    50
Section 1.09    Cashless Roll    51
Section 1.10    Luxembourg Terms    51
Article II The Credits    51
Section 2.01    Commitments    51
Section 2.02    Loans and Borrowings    51
Section 2.03    Requests for Borrowings    52
Section 2.04    Incremental Facilities    53
Section 2.05    Swingline Loans.    55
Section 2.06    Letters of Credit    56
Section 2.07    Funding of Borrowings    64
Section 2.08    Interest Elections    65
Section 2.09    Termination and Reduction of Commitments    66
Section 2.10    Repayment of Loans; Evidence of Debt.    67
Section 2.11    Prepayment of Loans; Evidence of Debt.    67
Section 2.12    Fees    68
Section 2.13    Interest    69
Section 2.14    Alternate Rate of Interest    70
Section 2.15    Increased Costs    70
Section 2.16    Break Funding Payments    72
Section 2.17    Payments Free of Taxes    73
Section 2.18    Payments Genera lly; Pro Rata Treatment; Sharing of Set-offs    78
Section 2.19    Mitigation Obligations; Replacement of Lenders    80
Section 2.20    Defaulting Lenders    81
Section 2.21    Designation of Additional Borrowers    83
Section 2.22    Extension of Maturity Date    86
Section 2.23    Effect of Benchmark Transition Event    88
Section 2.24    Illegality    92
Section 2.25    Financial Calculations for Limited Condition Transactions    93
Article III Representations and Warranties    94
Section 3.01    Organization; Powers    94
Section 3.02    Power and Authority; Enforceability    94
Section 3.03    Validity and Admissibility into Evidence    94
Section 3.04    Non-Conflict with Other Obligations    94
Section 3.05    Financial Statements; No Material Adverse Change    94
Section 3.06    Properties; Intellectual Property    95
Section 3.07    Litigation    95

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TABLE OF CONTENTS
Page
Section 3.08    Compliance with  Laws; Environmental  Compliance;  No Default  or  Event of Default    95
Section 3.09    Investment Company Status    96
Section 3.10    Taxes    96
Section 3.11    ERISA.    96
Section 3.12    No Misleading Information    97
Section 3.13    Sanctions Laws; Anti-Corruption, Anti-Bribery, Anti-Money Laundering Laws and Regulations    97
Section 3.14    Federal Reserve Board Regulations    98
Section 3.15    Solvency    98
Section 3.16    Centre of Main Interest and Establishment    98
Section 3.17    Governing Law and Enforcement    98
Section 3.18    Pari Passu Ranking    98
Article  IV CONDITIONS PRECEDENT    98
Section 4.01    Conditions Precedent to the Closing Date    98
Section 4.02    Conditions Precedent to Each Credit Event    100
Article V Affirmative Covenants    101
Section 5.01    Financial Statements; Ratings Cha nge and Other Information    101
Section 5.02    Notices of Material Events    102
Section 5.03    Existence; Conduct of Business; Authorizations    102
Section 5.04    Payment of Material Obligations    103
Section 5.05    Maintenance of Properties; Insurance    103
Section 5.06    Books and Records; Inspection Rights    104
Section 5.07    Compliance with Laws    104
Section 5.08    Environmental Compliance    104
Section 5.09    Legal Fees    104
Section 5.10    Pari Passu Ranking    105
Section 5.11    Centre of Main Interest and Establishment    105
Article  VI Negative Covenants    105
Section 6.01    Fundamental Changes, Asset Dispositions    105
Section 6.02    Liens    105
Section 6.03    Incurrence of Debt    105
Section 6.04    Financial Covenant    105
Section 6.05    Transactions with Affiliates    106
Section 6.06    Use of Proceeds; Sanctions Laws;  Anti-Money Laundering Laws    106
Section 6.07    Restricted Payments; Use of Proceeds for  Divide nds    106
Section 6.08    Anti-Corruption Law    107
Section 6.09    Unrestricted Subsidiaries    107
Article  VII Events of Default    108
Section 7.01    Events of Default    108
Section 7.02    Distribution of Payments after Event of Default    110
Article VIII The Administrative Agent    111
Article IX Guaranty    116
Section 9.01    Guaranty by the Guarantor    116
Section 9.02    Guaranty Unconditional    116

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TABLE OF CONTENTS
Page
Section 9.03    Waivers    117
Section 9.04    Guarantor Obligations to Remain in Effect; Restoration    117
Section 9.05    Waiver of Acceptance, etc    117
Section 9.06    Subrogation    118
Section 9.07    Effect of Stay    118
Article X Miscellaneous    118
Section 10.01    Notices    118
Section 10.02    Waivers; Amendments    120
Section 10.03    Expenses; Indemnity; Damage Waiver    121
Section 10.04    Successors and Assigns    123
Section 10.05    Survival    127
Section 10.06    Counterparts; Integration; Effectiveness; Electronic Execution    127
Section 10.07    Severability    128
Section 10.08    Right of Setoff    128
Section 10.09    Governing Law; Jurisdiction; Consent to Service of Process    129
Section 10.10    WAIVER OF JURY TRIAL    130
Section 10.11    Headings    130
Section 10.12    Confidentiality    130
Section 10.13    Material Non-Public Information    131
Section 10.14    Interest Rate Limitation    132
Section 10.15    Judgment Currency    132
Section 10.16    Waiver of Immunity    133
Section 10.17    USA PATRIOT Act    133
Section 10.18    No Advisory or Fiduciary Responsibility    133
Section 10.19    Acknowledgment  and Consent  to Bail-In  of  Affected Financial  Institutions
.......................................................................................................... 134
Section 10.20    Electronic Execution of Assignments and Certain Other Documents    135

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SCHEDULES:
Schedule I    - Initial Lenders and Commitments Schedule II    - ESG Targets
Schedule III    - Administrative Agent's Office, Certain Addresses for Notices

EXHIBITS:
Exhibit  A    -    Form of Assignment and Assumption Exhibit  B    -    Form of Compliance Certificate
Exhibit  C-1    -    U.S. Tax Certificate (For Non-U.S. Lenders that are not Partnerships for
U.S. Federal Income Tax Purposes)
Exhibit  C-2    -    U.S. Tax Certificate (For Non-U.S. Participants that are Partnerships for
U.S. Federal Income Tax Purposes)
Exhibit  C-3    -    U.S. Tax Certificate (For Non-U.S. Participants that are not Partnerships for
U.S. Federal Income Tax Purposes)
Exhibit  C-4    -    U.S. Tax Certificate (For Non-U.S. Lenders that are Partnerships for U.S. Federal Income Tax Purposes)
Exhibit  D    -    Form of Borrowing Request
Exhibit  E    -    Form of Letter of Credit Request Exhibit  F    -    Form of ESG Reporting Certificate Exhibit  G    -    Form of Note
Exhibit  H    -    Form of Interest Election Request

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This REVOLVING CREDIT AGREEMENT is entered into as of October 15, 2020 among MILLICOM INTERNATIONAL CELLULAR S.A., a limited liability  company  (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, with its domicile and principal place of business located at 2 rue du Fort Bourbon, L-1249, Luxembourg  and registered with the Luxembourg Trade and Companies Register under number B 40630 as Borrower (in such capacity, the "Borrower") and as Guarantor  under  Article IX hereof (in such capacity, the "Guarantor"), the Lenders from time to time party hereto, and THE BANK OF NOVA SCOTIA, as Administrative Agent (each, as defined below).
The parties hereto agree as follows:

ARTICLE I DEFINITIONS
Section 1.01    Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

"ABR", when used in reference to any Loan or  Borrowing,  refers to whether  such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined  by refere nce to the Alternate Base Rate.
"Acquired Debt" means Debt of any Person: (a) incurred and outstanding on the date on which such Person (i) was acquired by the Borrower or any Restricted Subsidiary or (ii) is merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the Borrower or any Restricted Subsidiary; or  (b) incurred to provide all or part of the funds utilized to consummate  the  transaction  or  series  of related transactions pursuant to which such Person became a Subsidiary of the Borrower or any Restricted Subsidiary or was otherwise acquired by the Borrower or any Restricted Subsidiary; provided that, after giving pro forma effect to the transaction or transactions by which such Person became a Subsidiary of the Borrower or any Restricted Subsidiary or is merged, consolidated, amalgamated or otherwise combined  with  the  Borrower or  any Restricted  Subsidiary, either  (x) the Borrower is able to incur $1.00 of additional Debt under the Debt Incurrence Test or  (y)  the Total Net Leverage Ratio would not be greater than such ratio before giving effect to such transactions. Acquired Debt shall be deemed to have been incurred, with  respect to clause  (a) on  the date such Person becomes a Subsidiary of the Borrower or any Restricted Subsidiary and, with respect to clause (b), on the date of consummation of such acquisition of assets.
"Additional Borrower" means any Restricted Subsidiary of the Borrower that becomes an
Additional Borrower hereunder after the Closing Date pursuant to Section 2.21 hereof.

"Additional Borrower Joinder Agreement" means a joinder to this Agreement executed pursuant to Section 2.21 hereof in a form reasonably acceptable to the Administrative Agent and executed by the Administrative Agent, the Borrower and the Additional Borrower(s) becoming a party to this Agreement.
"Additional Commitment Lender" has the meaning assigned to such term in Section
2.22(d).

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"Additional Credit Extension Amendment" means an amendment to this Agreement providing for any Incremental Commitments which shall  be  consistent  with the  applicable provisions of this Agreement relating  to Incremental Commitments  and otherwise  satisfactory to  the Administrative Agent and the Borrower.
"Adjusted LIBO Rate" means the rate of interest obtained by dividing (i) the rate of interest per annum determined on the basis of the rate for deposits in Dollars for a period equal to the applicable Interest Period published by the ICE Benchmark Administration Limited, a United Kingdom company, at approximately 11:00 a.m. (London  time)  two Business  Days  prior  to  the first day of the applicable Interest Period by (ii) a percentage equal to 1 minus the stated maximum rate (stated as a decimal) of all reserves, if any, required to be maintained with respect to Eurocurrency funding (currently referred to as "Eurocurrency  liabilities")  as  specified   in Regulation D of the Board of Governors of the Federal Reserve System (or against any other category of liabilities which includes deposits by reference to which the interest rate on Eurodollar Loans is determined or any applicable category of extensions of credit or  other  assets  which includes loans by an office of any Lender outside of the United States of Americ a). If, for any reason, the rate referred to in the preceding clause (i) is not published,  then the rate to be used for such clause (i) shall be reasonably determined by the Administrative Agent in good  faith  from another recognized source or interbank quotation at approximately 11:00 a.m. (London time) two Business Days prior to the first day of the applicable Interest Period for a period equal to such Interest Period. Any change in the maximum rate or reserves described in the preceding clause (ii) shall result in a change in the Adjusted LIBO Rate on the date on which such change in such maximum rate becomes effective. If the Adjusted LIBO Rate determined as provided above  would be less than zero, the Adjusted LIBO Rate shall be deemed to be zero.

"Administrative Agent" means The Bank of Nova Scotia, in its capacity as administrative
agent for the Lenders hereunder, and any successor thereto appointed pursuant to Article VIII.

"Administrative Agent Fee Letter" means the Fee Letter, dated as of October 15, 2020 between the Borrower and the Administrative Agent.

"Administrative Questionnaire" means an administrative questionnaire in a form supplied
by the Administrative Agent.
"Affected Financial Institution" means (a) any EEA Financial Institution or (b) any UK Financial Institution.

"Affiliate" means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under  common Control with the Person specified.

"Agent Party" has the meaning assigned to such term in Section 10.01(d)(ii).

"Agreement"   means    this    Revolving    Credit    Agreement,    as    amended,    restated,
supplemented or otherwise modified from time to time.

"Alternate Base Rate" or "ABR"  means, for any  day,  the  interest  rate per annum equal to
the  greatest of  (a) the  Prime  Rate in  effect on such day,  (b)  the  Federal Funds  Effective  Rate in

0010146-0000535 NYO1: 2000703970                                     .2

effect on such day plus 0.50% per annum and (c) the LIBOR Market Index Rate (provided that clause (c) shall  not be applicable during any period in which  LIBOR is unavailable  or unascertainable) on such day plus 1% per annum. Any change in the ABR due to a change in the Prime Rate, the Federal Funds Effective Rate or LIBOR Market Index Rate shall be effective from and including the effective date of such change  in  the  Prime  Rate, the  Federal Funds  Effective Rate or such LIBOR Market Index Rate, respectively.

"Annual Report" means the Millicom Annual Report for 2019.

"Anti-Corruption Laws" means any applicable anti-bribery or anti-corruption  Laws, including without limitation the U.S. Foreign Corrupt Practice Act of  1977,  the  UK Bribery  Act 2010 and the Canadian Corruption of Foreign Public Officials Act.
"Anti-Money Laundering Laws" means any applicable anti-money laundering Laws, including without limitation, the Bank Secrecy Act of 1970,  the  USA PATRIOT Act of  2001  and the Proceeds of Crime (Money Laundering) and Terrorism Financing Act of 2001, as amended.
"Applicable Margin" means, for any day:

(a)from and including the Closing Date until  changed  in  accordance  with  the provisions set forth in clause  (b) below,  (x) with  respect to Eurodollar  Loans, the  rate per annum applicable to Level III in the Pricing Grid; and (y) with respect to ABR Loans, the rate per annum applicable to Level III in the Pricing Grid  less 1.00%; and

(b)from and including the fifth (5th) Business Day following the date on which a Compliance Certificate is delivered with respect to the Financial Quarter ending September 30, 2020 in accordance with Section 5.01(c)(i) and continuing  with respect to each Financial Quarter thereafter, (1)(x) with respect  to  Eurodollar Loans, the applicable rate per annum  determined  by  reference to Total Net Leverage Ratio for the preceding Financial Quarter in accordance with the Pricing Grid; and (y) with respect to ABR Loans, the applicable rate per annum determined by reference to the Total Net Leverage Ratio for the preceding Financial Quarter in accordance with the Pricing Grid less 1.00%, in each case, (2) plus or minus, as the case may be, the ESG-Based Pricing Ratchet (it being understood that the ESG- Based Pricing Ratchet (i) may be a discount or premium as provided in the ESG Pricing Scale and (ii) shall be non-cumulative).

Except as provided in the final paragraph of this definition, each change in the Applicable Margin based on the delivery of a Compliance Certificate in accordance with Section 5.01(c)(i) shall become effective on the fifth (5th) Business Day immediately following the date on which a Compliance Certificate is delivered pursuant to Section 5.01(c)(i) and shall continue in effect for the period from and including such date through the date immediately preceding the effective date of the next such change. In the event that any Compliance Certificate delivered pursuant to Section 5.01(c)(i) is determined to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher or lower Applicable Margin for any period (an "Applicable Margin Period") than the Applicable Margin

0010146-0000535 NYO1: 2000703970                                     .3

applied for such Applicable Margin Period, then (a) the  Borrower shall  promptly  (and in any event within five (5) Business  Days) following such determination deliver to the Administrative Agent a correct Compliance Certificate required by Section  5.01(c)(i)  for such Applicable Margin Period, (b) the Applicable Margin for such  Applicable  Margin Period shall be determined as if the Total  Net Leverage  Ratio  were determined  based on the amounts set forth in such correct Compliance Certificate and (c)(x) the Borrower shall promptly (and in any event within ten (10) Business Days) following delivery of such corrected Compliance Certificate pay to the Administrative Agent the accrued additional interest and unused commitment fee owing as a result of such increased Applicable Margin for such Applicable Margin Period; provided, that any accrued  additional  interest  and unused commitment fee required to be paid pursuant to this clause  (c)(x)  shall  not  be deemed overdue or constitute a Default or an Event of Default (whether retroactively or otherwise) unless the Borrower fails to pay to the Administrative Agent such accrued additional interest or unused commitment fee within ten (10) Business Days following delivery of the corrected Compliance Certificate or (y) to the extent that, as a result of such inaccuracy, the Borrower paid to any Lender any interest or unused commitment fee in excess of the amounts the Borrower should have paid to such Lender, then such Lender, if and to the extent it remains a Lender on such Interest Payment Date, shall, in consultation with the Administrative Agent, credit such excess payment of  interest or   unused commitment fees (as applicable) against the  amount of accrued interest and unused commitment  fees owing  by the Borrower to such Lender on the next Interest Payment Date.
Notwithstanding the foregoing, the Applicable Margin determined pursuant  to the  Pricing Grid shall be based on the rate per annum set forth in Level I of the Pricing Grid if  the  Borrower  fails to deliver the consolidated financial statements required to be delivered pursuant to Section 5.01(a) or Section 5.01(b) (or a related Compliance Certificate),  in  each case within  the  time periods specified herein for such delivery, during  the  period  commencing  on and including the day of the  occurrence of an Event  of Default resulting  from such failure  and until  the  delivery thereof.
"Applicable Maturity Date" has the meaning assigned to such term in Section 2.22(a). "Applicable Percentage" means,  with  respect  to any  Lender,  the  percentage of  the total
Commitments represented by such  Lender's  Commitment.  If the  Commitments  have  terminated or expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments.
"Approved Jurisdiction" means each of Luxembourg, Netherlands, Spain, the United
States and England & Wales, in each case unless such jurisdiction is a Sanctioned Country.
"Asset Disposition" means any transfer, conveyance, sale, lease or other disposition by any Loan Party or any Restricted Subsidiary (including a consolidation or merger or other sale of any such Restricted Subsidiary with, into or to another Person in a transaction in which such Restricted Subsidiary ceases to be a Restricted Subsidiary, but excluding a disposition by a  Restricted Subsidiary to any Loan Party or a Restricted Subsidiary which is an 80% or more owned Restricted Subsidiary) of (i) shares of Capital Stock (other than directors' qualifying  shares and shares to be  held by third parties to satisfy applicable legal requirements) or other ownership interests of a Restricted Subsidiary, (ii) substantially all of the assets of any Loan Party or any Restricted

0010146-0000535 NYO1: 2000703970                                     .4

Subsidiary representing a division or line  of business  or  (iii)  other  assets or  rights  of any Loan  Party or any Restricted Subsidiary outside of the ordinary course of  business;  provided that the term "Asset Disposition" shall not include Permitted Disposals.

"Assignment and Assumption" means an assignment and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 10.04), and accepted by the Administrative Agent, in  the  form of  Exhibit  A or  any other  form approved by the Administrative Agent.

"Authorized Officer" means any of  the Chief Executive Officer,  President,  Chief Operating Officer, Executive Vice President, Senior Vice President, Vice President, Financial Officer or General Counsel of the Borrower, or, in the case of any Additional Borrower, each individual listed in the certificate delivered by such Additional Borrower pursuant to Section 4.01(c)(iii).
"Availability Period" means the period from and including the  Closing Date to but
excluding the earlier of the Maturity Date and the date of termination of the Commitments.
"Available Commitment" means, as to any Lender at any time, an amount equal to the excess, if any, of (a) such Lender's Commitment then in effect minus (b) such Lender's Credit Exposure then outstanding; provided, that in  calculating  any Lender's Credit  Exposure  solely  for the purpose of determining such Lender's Available Commitment pursuant to Section 2.12(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

"Bail-In Action" means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.

“Bail-In Legislation" means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law,  regulation  or rule  applicable in  the United  Kingdom  relating  to the  resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates  (other than through liquidation, administration or other insolvency proceedings).
"Bankruptcy Code" means Title 11 of the United States Code entitled "Bankruptcy," as
now and hereafter in effect, and any successor statute.

"Bankruptcy Event" means, with respect to any Lender, such Lender or its  direct  or indirect parent company becomes the subject  of a bankruptcy  or insolvency  proceeding,  or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business  appointed  for it,  or, in  the good faith  determination  of the  Administrative Agent, has taken any action  in  furtherance  of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership  interest, in such Person by  a Governmental Authority  or instrumentality thereof so long as such ownership interest does not result in or provide such Person

0010146-0000535 NYO1: 2000703970                                     .5

with immunity from the jurisdiction of courts within  the United States or the European Union  from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality)  to reject, repudiate, disavow  or disaffirm  any contracts or agreements made by such Person.
"Basel III" means:

(a)the agreements on capital requirements, a leverage ratio and liquidity standards contained in "Basel III: A global regulatory  framework  for  more  resilient  banks and banking systems", "Basel III: International framework for liquidity risk measurement, standards and monitoring" and "Guidance for national authorities operating the countercyclical capital buffer" published by the Basel Committee on Banking Supervision in December 2010, each as amended,  supplemented  or restated;
(b)the rules for global systemically important banks contained in "Global systemically important banks: assessment methodology and the additional loss absorbency requirement - Rules text" published by the  Basel Committee on  Banking Supervision in November 2011, as amended, supplemented or restated; and
(c)any further guidance or standards published by the Basel Committee on Banking
Supervision relating to "Basel III".
"Beneficial    Ownership  Certification"   means    a   certification    regarding    beneficial
ownership as required by the Beneficial Ownership Regulation.
"Beneficial Ownership Regulation" means 31 C.F.R. § 1010.230.

"Board" means the Board of Governors of the Federal Reserve System of the United States of America.

"Borrower" has the meaning assigned to such term in the preamble.
"Borrowing" means (a) Loans of the same Type and Class, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is  in  effect or (b) a Swingline Loan.

"Borrowing Request" has the meaning assigned to such term in Section 2.03.
"Business Day" means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City,  Luxembourg  and Toronto  are authorized  or required  by law to remain closed; provided that, when used in connection  with a Eurodollar Loan, the term  "Business Day" shall also exclude any day on which banks are not open for dealings in  Dollar deposits in the London interbank market.
"Capital Lease Obligation" of any Person means the obligation to pay rent or  other  payment amounts under a lease of real or personal property of such Person which is required to be classified and accounted for as a capital lease on the balance sheet of such Person in accordance

0010146-0000535 NYO1: 2000703970                                     .6

with IFRS. The stated maturity of such obligation shall  be  the date of  the last payment  of  rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. The  principal  amount  of  such obligation shall be the capitalized amount thereof that would appear on the balance sheet of such Person in accordance with IFRS.
"Capital Stock" of any Person means any and all shares, interests, participation or other equivalents (however designated) of corporate stock or other equity participation, including partnership interests, whether general or limited, of such Person.
"Cash Equivalents" means, with respect to any Person:

(a)any direct obligations of, or obligations guaranteed  by,  the   United  States  of America (or by any agency thereof), the United Kingdom or any member of the European Union to the extent such obligations or guarantees are backed by the full faith and credit of the United States, the United Kingdom or such member of the European Union and which have  a remaining Weighted  Average Life-to-Maturity of not more than one (1) year from the date of investment therein;

(b)term deposit accounts (excluding current and demand deposits), certificates of deposit, time deposits, money market deposits and bankers'  acceptances, in  each case, issued by or held with (i) any Initial Lender, (ii) any bank or trust company which is organized under the laws of the United States of America,  any  state thereof, the United Kingdom, Switzerland,  Canada, Australia  or  any member  state of the European Union, which bank or trust company has capital, surplus and undivided profits aggregating in excess of $100 million (or the foreign currency equivalent thereof) and has outstanding debt which is rated no less than Investment Grade or higher  by at least one  Rating  Agency; or  (iii) money  market funds  rated at least AAA by at least one Rating Agency or managed by any Lender;

(c)repurchase obligations with a term of not more than seven (7) days for underlying securities of the types described in paragraph (a) entered into with any financial institution meeting the qualifications specified in paragraphs (b)(i) or (ii) above;
(d)commercial paper having one of the two highest ratings obtainable from any of the Rating Agencies and in each case maturing within 365 days after the date of acquisition;

(e)money market funds at least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the types described in paragraphs (a) through (d)  of this definition;

(f)with respect to any Person organized under the laws of, or having its principal business operations in, a jurisdiction outside  the United States, the United  Kingdom or the European Union, those investments  that are of  the same type  as investments in clauses (a), (c) and (d) of this definition except that the  obligor  thereon  is organized under the laws of the country (or any  political  subdivision  thereof) in which such Person is organized or conducting business; and

0010146-0000535 NYO1: 2000703970                                     .7

a.up to $100,000,000 in the  aggregate of  term deposit accounts  and  overnight deposits held by such Person in countries where any member of  the  Restricted Group operates its business in accordance with this Agreement.

"CBIR" has the meaning assigned to such term in section 3.16.
"Change in Law" the occurrence after the date of this Agreement (or, with respect to any Lender, such later date on which such Lender becomes a party to this Agreement) of any of the following: (a) the adoption or taking effect of any law, rule, regulation  or treaty, (b) any change in  any law, rule, regulation or  treaty or in the  interpretation or  application thereof by  any Governmental Authority  or  (c) compliance  by any Lender or  any Issuing  Bank (or,  for  purposes of Section 2.15(b), by any Lending Office of such Lender or by such Lender's  or  any Issuing  Bank's holding company, if any)  with  any request, guideline  or  directive  (whether or  not  having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection  Act and all  requests,  rules,  guidelines  or  directives  thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated, introduced or implemented by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or  the United  States or  foreign regulatory authorities, in each case pursuant to Basel III or CRD IV, or any law or regulation that implements or applies Basel III or CRD IV, shall  be deemed to be a "Change  in  Law", regardless of the date enacted, adopted or issued.
"Change of Control" means the occurrence of any of the following events:

(a)any Person becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Borrower, measured by voting power rather than number of shares;
(b)the direct or indirect sale, lease, transfer, conveyance or other  disposition (other  than by way of merger or consolidation), in  one  or a series of  related transactions, of all or substantially all of the properties  or assets of the Borrower and its Subsidiaries taken as a whole to any Person; or
(c)a plan relating to the liquidation or dissolution of the Borrower is adopted.
For purposes of this definition, "Beneficial Owner" has the meaning  assigned  to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular "person" (as that term is used in  Section  13(d)(3)  of  the  Exchange Act), such "person" will be deemed to have beneficial ownership  of all  securities  that  such "person" has the right to acquire  by  conversion  or exercise  of other  securities,  whether such right is currently exercisable or is exercisable only after the passage of time.

"Class", when used in reference to any Loan or Borrowing,  refers to whether  such Loan,  or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans.
"Closing Date" means the date on which the conditions specified in Section  4.01  are satisfied (or waived in accordance with Section 10.02).

0010146-0000535 NYO1: 2000703970                                     .8

"Code" means, at any date, the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder, all  as the  same may be  in effect at such date.

"Commitment" means, with respect to each Lender, the commitment of such Lender to make Revolving Loans and to acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender's Credit Exposure hereunder, as such commitment may  be  (a) reduced from  time  to time  pursuant to Section 2.09, (b) increased from time to time pursuant to Section 2.04, and (c) reduced or increased from time to time  pursuant  to  assignments   by   or   to  such  Lender  pursuant   to Section 10.04. The initial amount  of each Lender's  Commitment is  set forth  on  Schedule  I, or in the Additional Credit Extension Amendment or the Assignment and Assumption pursuant to which such Lender shall have assumed its  Commitment, as applicable.  The  initial  aggregate  amount  of the Lenders' Commitments is $600,000,000.

"Communications" has the meaning assigned to such term in Section 10.01(d)(ii). "Compliance Certificate" has the meaning assigned to such term in Section 5.01(c).
"Connection Income Taxes" means Other Connection  Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch  profits Taxes.

"Consolidated EBITDA" means, for any period, operating profit of the Borrower and its Restricted Subsidiaries, as the case may be, as such amount is  determined  on  a consolidated  basis in accordance with IFRS, plus the sum of the following amounts, in each case, without duplication (losses shall be added (as a positive number) and gains shall be deducted, in each case, to the extent such amounts were included in calculating operating profit):

(a)depreciation and amortization expenses;
(b)the net loss or gain on the disposal and impairment of assets;

(c)share-based compensation expenses;
(d)at the Borrower's option, as the case may be, other non-cash charges reducing operating profit (provided that if  any such non-cash charge represents an accrual of or reserve for potential cash charges in any future period, the  cash payment  in respect thereof in such future period shall reduce operating  profit  to such  extent, and excluding amortization of a prepaid cash item that was paid  in  a prior  period) less other non-cash items of income increasing operating  income  (excluding  any such non-cash item of income to the extent it represents (i) a receipt of cash payments in any future period, (ii) the reversal of an accrual or reserve  for  a potential cash item that reduced operating income in any prior period and (iii) any non-cash gains with respect to cash actually received in a prior  period  so long  as such cash did not increase operating income in such prior period);

0010146-0000535 NYO1: 2000703970                                     .9

a.any material extraordinary, one-off, non-recurring,  exceptional  or unusual  gain, loss, expense or charge, including any charges or reserves in respect of any restructuring, redundancy, relocation, refinancing, integration or severance or other postemployment arrangements,  signing,  retention or  completion  bonuses, transaction costs, acquisition costs, disposition costs, business optimizat ion, information technology implementation or development costs, costs related to governmental investigations and curtailments or  modifications to pension or postretirement benefits schemes, litigation or any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related events);

b.at the Borrower's option, as the case may be, the effects of adjustments in its consolidated financial statements pursuant to IFRS (including inventory, property, equipment, software, goodwill, intangible assets, in process research  and development, deferred revenue  and debt  line items)  attributable  to the application of recapitalization accounting or acquisition accounting, as the case may be,  in relation to any consummated acquisition or joint venture  investment or  the amortization or write-off or write-down of amounts thereof, net of taxes;
c.any reasonable expenses, charges or other costs related to any sale of Capital Stock (other than  Redeemable  Stock),  investment,  acquisition,  disposition , recapitalization or the incurrence of any Debt, in each case, as determined in good faith by a responsible financial or accounting officer of the Borrower;
d.any gains or losses on associates;
e.any unrealized gains or losses due to changes in the fair value of equity investments;

f.any unrealized gains or losses due to changes in the fair value of Interest Rate, Currency or Commodity Price Agreements;

g.any unrealized gains or losses  due  to changes in  the carrying  value  of  put  options in respect of Capital Stock of, or voting rights with respect to, any Subsidiary, Joint Venture or associate;
h.any unrealized gains or losses due to changes in  the  carrying  value  of call options  in respect of Capital Stock of, or voting rights with respect to, any Subsidiary, Joint Venture or associate;

i.any net foreign exchange gains or losses;
j.at the Borrower's option, as the case may be, any adjustments to reduce the impact  of the cumulative effect of a change in accounting principles  and changes as a result of the adoption or modification of accounting policies;

k.accruals and reserves that are established or adjusted within  twelve  (12)  months after the closing date of any acquisition that are so required to be established or adjusted as a result of such acquisition in accordance with IFRS;

0010146-0000535 NYO1: 2000703970                                     .10

a.any expenses, charges or losses to the extent covered by  insurance  or indemnity and actually reimbursed, or, so long as the Borrower or  any Restricted Subsidiary has made a determination that there exists reasonable  evidence  that  such amount will in fact be reimbursed by the insurer or indemnifying party  and  only  to  the extent that such amount is in fact reimbursed within three hundred sixty-five (365) days of the date of the insurable or indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable three hundred sixty-five (365)-day period);
b.the amount of  proceeds received from business interruption insurance and reimbursements of any expenses and charges  that  are covered by indemnificat ion or other reimbursement  provisions  in  connection  with  any acquisition,  Investment or any sale, conveyance, transfer or other disposition of assets;
c.any net gain (or loss) realized upon any Sale/Leaseback Transaction that is not  sold or otherwise disposed of in the ordinary  course  of  business,  determined  in  good faith by a responsible financial or accounting officer of the Borrower;

d.the amount of loss on the sale or transfer of any assets in connection with an asset securitization program, receivables factoring transaction or  other  receivables transaction (including, without  limitation,  a  Qualified  Receivables  Transaction); and

e.Specified Legal Expenses.

For the purposes of calculating Consolidated EBITDA for any period, as of such date of determination:
i.if, since the  beginning of such period the Borrower or any Restricted Subsidiary has made any Asset Disposition  or disposed of any  company,  any business, or any group of assets constituting an operating unit of  a business (any such disposition, a "Sale") including any Sale occurring in connection with a transaction causing a calculation to be made  hereunder, then Consolidated EBITDA for such period will be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the assets which are the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period;
ii.if, since the  beginning of such period the Borrower or any Restricted Subsidiary (by merger or otherwise) will have made an investment in any Person that thereby becomes a Subsidiary or otherwise  acquires any company, any business, or any group of assets constituting an operating  unit of a business (any such investment or acquisition, a "Purchase"), including any such Purchase occurring in connection with a transaction causing a calculation to be made hereunder, then Consolidated EBITDA for such

0010146-0000535 NYO1: 2000703970                                     .11

period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such period;

i.if, since the beginning of such period, any Person (that became a Subsidiary was merged with or into the  Borrower  or any Restricted  Subsidiary since the beginning of such period) will have made any Sale or any Purchase that would have required an adjustment pursuant to clauses (i) or (ii)  above  if made by the Borrower or any Restricted Subsidiary since the beginning of such period, Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Sale or Purchase occurred on the first day of such period,  including  anticipated  synergies  and cost savings  as if such Sale or Purchase occurred on the first day of such period;
ii.whenever pro forma effect is applied, the pro forma calculations will be as determined in good faith by a responsible financial  or accounting  officer  of the Borrower (including in respect of  anticipated  synergies  and  cost savings) as though the full effect of such synergies and cost savings were realized on the first day of the relevant period and shall also include the reasonably anticipated full run rate cost savings effect (as calculated in good faith by a responsible financial or chief accounting  officer  of the Borrower) of cost savings programs that have been initiated by the Borrower or its Subsidiaries as though such cost savings programs had been fully implemented on the first day of such relevant period;

iii.for the purposes of determining the amount of Consolidated EBITDA under this definition denominated in a foreign currency, the Borrower may, at its option, calculate the equivalent in Dollars of such amount of Consolidated EBITDA based on either (i) the weighted average exchange rates for the relevant period used in the consolidated  (if  applicable)  financial  statements of the Borrower for such relevant period or  (ii) the  relevant currency exchange rate in effect on the date of execution of this Agreement; and
iv.the amount of fees payable by any Subsidiary of the Borrower to the Borrower or any Restricted Subsidiary in connection with the guaranties provided in connection herewith and any services rendered (including , without limitation, any management fees, value creation fees and similar fees) shall be excluded.
For the purpose of calculating Consolidated  EBITDA, any Joint  Venture Consolidated  EBITDA shall be added to the amount determined in accordance with the foregoing.

"Consolidated Net Debt" means, with respect to the Borrower and its Restricted Subsidiaries on any date of determination, the sum without duplication  of (a) the  total amount  of Debt of the Borrower and its Restricted Subsidiaries on a consolidated basis in accordance with IFRS, minus (b) the  sum without duplication of (i)  all  Debt  outstanding  under  Minority Shareholder Loans, plus (ii) other than for purposes of calculating Total Net Leverage Ratio in connection with the Pricing Grid, (A) all Debt outstanding in reliance on clause (c) of the definition

0010146-0000535 NYO1: 2000703970                                     .12

of "Permitted Debt" plus (B) all Debt outstanding in reliance on clause (p) of the definition of "Permitted Debt," plus (iii) any Debt which is a contingent obligation of the Borrower and its Restricted Subsidiaries on such date, plus (iv) the amount of cash and Cash Equivalents (other than cash or Cash Equivalents received from the incurrence of Debt by the Borrower and any of its Restricted Subsidiaries to the extent such cash or Cash Equivalents has not been subsequently applied or used for any purpose not prohibited by this Agreement) of the Borrower  and  its Restricted Subsidiaries, but excluding, for the avoidance of doubt, all Restricted Cash.

"Control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. "Controlling" and "Controlled" have  meanings  correlative thereto.

"CRD IV" means:
(a)Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements  for  credit  institutions and investment  firms and amending Regulation (EU) No 648/2012; and

(b)Directive 2013/36/EU of the European Parliament and of the Council  of  26  June 2013 on access to the activity  of  credit  institutions  and the  prudential  supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.

"Credit Event" means any Borrowing or request for issuance, renewal or extension of any Letter of Credit.
"Credit Exposure" means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender's Revolving Loans  and  its  LC  Exposure  and  Swingline Exposure at such time.
"Credit Facilities" means, debt facilities, arrangements, instruments, trust deeds, note purchase agreements, indentures, purchase money financings, commercial paper facilities or overdraft facilities with banks or other institutions or investors providing for revolving  credit loans, term loans, receivables  financing  (including through  the sale  of receivables  to such institutions  or to special purpose entities formed to borrow from  such  institutions against  such  receivables), letters of credit or other Debt, in each case, as amended, restated, modified, renewed, refunded, replaced, restructured, refinanced, repaid, increased or extended, in whole or in part from time to time, and in each case, including all agreements, instruments and  documents  executed  and delivered pursuant to or in connection  with  the foregoing  (including,  but  not  limited  to, any notes and letters of credit issued pursuant thereto and any guarantee and collateral agreement, patent and trademark security agreement, mortgages or letter of credit applications and other guarantees, pledges, agreements, security agreements and collateral  documents).  Without  limiting  the generality of the  foregoing, the  term "Credit Facilities" shall  include any agreements or  instruments (i) changing the maturity of any Debt incurred thereunder or contemplated thereby,
(ii)adding Subsidiaries of the Borrower as additional borrowers or guarantors thereunder, (iii)

0010146-0000535 NYO1: 2000703970                                     .13

increasing the amount of Debt incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

"Credit Party" means each of the Administrative Agent, any Issuing Bank, the Swingline
Lender and any other Lender, and the respective successors and assigns of each of the foregoing.

"Debt" means (without duplication), with  respect to any  Person, whether recourse is  to all or a portion of the assets of such Person and whether or not contingent: (i) the principal of and premium, if any, in respect of every obligation of  such  Person for  money  borrowed;  (ii)  the principal of and premium, if any, in respect of every obligation of such Person evidenced by bonds, debentures, notes or other similar instruments; (iii) every reimbursement obligation  of such Person with respect to letters of credit, bankers' acceptances or similar facilities issued for the account of such Person (but only to the extent such obligations are not reimbursed within thirty (30) days following receipt by such Person of a demand for reimbursement);  and (iv)  the   principal component of every obligation of the type referred to in clauses (i)  through  (iii) of another Person  and all dividends of another Person the payment of which, in either case, such Person has  guaranteed or is responsible  or liable  for, directly  or  indirectly, as obligor,  guarantor  or  otherwise to the extent not otherwise included in the Debt of such Person. The  "amount"  or  "principal amount" of Debt at any time  of  determination  as used herein represented by  (1)  any Debt  issued at a price that is less than the principal amount at maturity thereof, shall be the  amount  of  the  liability in respect thereof determined in  accordance with IFRS,  (2)  any Redeemable  Stock,  shall be the maximum fixed redemption or repurchase price in respect thereof, and (3)  any amount  of Debt that has been cash-collateralized, to the extent so cash-collateralized, shall be excluded from any calculation of Debt. Notwithstanding anything else to the contrary, for all purposes under this Agreement, the amount of Debt incurred, repaid, redeemed, repurchased or otherwise acquired  by the Borrower or any Restricted Subsidiary shall equal the liability in respect thereof determined in accordance with IFRS and reflected on such Person's consolidated (if applicable) statement of financial position (but only to the extent considered "Debt" hereunder taking into account the exclusions below).

The term "Debt" shall not include:

a.obligations described in paragraphs (i), (ii) and (iv) of the first paragraph of this  definition of Debt that are incurred  by a Restricted Subsidiary (the "Proceeds Recipient") and owed to a bank or other lending institution (the "On-Lend Bank")  to facilitate the substantially concurrent on-lending of proceeds (the "Proceeds On- Loan") from Debt incurred by the Borrower or any Restricted  Subsidiary (other than the Proceeds Recipient) in compliance at all times  with  the  Debt Incurrence Test to the extent (1) the principal obligations  in  respect of the  Proceeds On-Loan are secured by security over cash granted in favor of  the  On-Lend Bank or  any of its Affiliates in an amount not less than the principal amount of the Proceeds On- Loan, (2) the Proceeds On-Loan is put in  place  substantially  concurrently  with  a loan by the Borrower or  any Restricted Subsidiary (other than the  Proceeds Recipient) to the On-Lend Bank (the "On-Lend Bank Borrowing") pursuant to which the Proceeds Recipient is entitled to reduce the principal amount of the Proceeds On-Loan by an amount equal to the principal amount of  the  On-Lend Bank Borrowing if a default or acceleration occurs with respect to such On-Lend

0010146-0000535 NYO1: 2000703970                                     .14

Bank Borrowing, or (3) the substantial risks and rewards of the Proceeds On-Loan are transferred, using a synthetic instrument or any other arrangement or agreement, from the On-Lend Bank to the Borrower or any Restricted Subsidiary (other  than the Proceeds Recipient) in exchange for an amount not less than (x) the amount of cash granted in favor of the On-Lend Bank or any of its Affiliates, or (y) the outstanding amount of the On-Lend Bank Borrowing, as applicable,  in  each case as at the effective date of such transfer;

b.any liability of the Borrower or any Restricted Subsidiary (other than the Proceeds Recipient) attributable to a synthetic instrument or any other arrangement or agreement described in clause (a)(3) above to the extent such obligation under the relevant instrument, arrangement or agreement has not  come  due  but  is  classified as a financial liability in accordance with  IFRS  and recorded as a current  liability on such Person's consolidated statement of financial position;
c.any Restricted MFS Cash;
d.any liability of the Borrower or any  Restricted  Subsidiary attributable  to  a  put option or  similar instrument, arrangement or agreement entered into  after  the Closing Date granted by such Person relating to an interest in any other entity,  in each case to the extent such option has not been exercised or such obligation under the relevant instrument, arrangement or agreement has not come  due  but  is  classified as a financial liability in accordance with IFRS, and recorded as a current liability on such Person's consolidated statement of financial position;
e.any standby letter of credit, performance bond or surety bond or other similar third- party guaranty instrument provided by the Borrower or any Restricted Subsidiary that is customary in a Related Business to the  extent such letters  of credit or bonds or instruments are not drawn upon or, if and to the  extent drawn upon,  are honore d in accordance with their terms;
f.solely for purposes of  calculation of  the  Total Net Leverage Ratio, any intercompany debt or other liability owing from  one  member  of  the  Restricted Group to another member of the Restricted Group;
g.any deposits or prepayments received by the Borrower or a Restricted Subsidiary from a customer or subscriber for its service and any other deferred or prepaid revenue;
h.any obligations to make payments in relation to earn outs;
i.Debt which is in the nature of equity (other than Redeemable Stock) or equity derivatives;
j.Capital Lease Obligations or operating leases;
k.Receivables sold or discounted, whether recourse or non-recourse, including for the avoidance of doubt any debt in respect of Qualified Receivables Transactions,

0010146-0000535 NYO1: 2000703970                                     .15

including without limitation  guarantees  by a Receivables  Entity  of  the obligations of another Receivables Entity;

l.pension obligations or  any obligation under  employee plans or employment agreements;
m.any "parallel debt" obligations to the extent that such obligations mirror other Debt;

n.any payments or  liability for assets acquired or  services  supplied  deferred (including trade payables) in accordance with the terms pursuant to  which  the relevant assets were or are to be acquired or services were or are to be supplied;
o.the principal component or liquidation preference of all obligations  of such Person with respect to the redemption, repayment or other repurchase of any Redeemable Stock or, with respect to any Restricted Subsidiary, any Preferred Stock (including , in each case, any accrued dividends); and
p.the net obligations of such Person under any Interest Rate, Currency or Commodity Price Agreement.

Where Debt is denominated in a currency other than Dollars, the Borrower may, at its option, calculate the equivalent in Dollars of such amount of Debt based on either (i) the weighted average exchange rates for the relevant period  used in  the consolidated  (if  applicable)  financial  statements of the Borrower for such relevant period or (ii) the relevant currency exchange rate in effect on the date of execution of this Agreement; provided, that if  the Borrower exercises the foregoing  option at any time, it shall do so with respect to all (and not  less  than all)  Debt outstanding  at such time that is denominated in a currency other than Dollars.
"Debt Incurrence Test" has the meaning assigned to such term in Section 6.03(a).
"Debtor Relief Laws" means the Bankruptcy Code, and all other liquidat ion, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect.
"Default" means any event or condition which upon notice, lapse of time or both would,
unless cured or waived, become an Event of Default.
"Defaulting Lender" means any Lender that (a) failed to (i) fund any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder (unless such Lender is disputing in good faith whether it is contractually obliged to fund),  (ii)  fund  any  portion of  its  participations  in  Letters of Credit  or Swingline  Loans  within  two (2) Business  Days of the date when due or (iii) pay over to any Credit  Party any other  amount  required  to be paid  by it hereunder within two (2) Business Days of the date when due, or (b) has notified  any Loan Party or any Credit Party or has made a public statement to the effect that it does not intend or expect to comply with  any of its  funding  obligations  under this  Agreement or any other agreements in  which it commits to extend credit (unless such Lender is disputing in good faith whether it is contractually obliged to fund), or (c) has failed, within three (3) Business Days after request by a Credit Party

0010146-0000535 NYO1: 2000703970                                     .16

or any Loan Party, to provide a certification in writing from  an authorized  officer  of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and participations in Letters of  Credit  and Swingline Loans under   this Agreement (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause
(c)upon receipt of such written confirmation by the Administrative Agent and the Borrower), or
(d)is, or has a direct or indirect parent company that is, the subject of a (i) Proceeding under any Debtor Relief Law, (ii) Bankruptcy Event or (iii) Bail- In Action. Any determination by the Administrative Agent or a Loan Party that a Lender is a Defaulting Lender under  any one  or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender upon delivery of written notice of such determination to the Credit Parties (in the case of a determination by a Loan Party) or to the Credit Parties and the Loan Parties (in the case of a determination by the Administrative Agent).
"Designated Persons" means, at any time, (a) any Person identified on any sanctions - related list of designated Persons maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union, Her Majesty's  Treasury,  the  Government  of Canada, or other relevant sanctions authority, or (b) any Person owned or controlled by any such Person or Persons described in clause (a) or that is otherwise  the  target of Sanctions  Laws such  that dealing or otherwise engaging in business transactions or other activities with such Person are restricted.

"Disqualified Stock" means, with respect to any Person, any Capital Stock of such Person which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event:

(i)matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise;
(ii)is convertible or exchangeable for Debt or Disqualified Stock  (excluding Capital Stock which  is  convertible  or exchangeable  solely  at the option  of the Borrower or a Restricted Subsidiary); or

(iii)is redeemable at the option of the holder of the Capital Stock in whole or in part,
(iv)in each case on or prior to the earlier of (a) the Maturity Date or (b) on which there are no Obligations outstanding, provided that only  the  portion  of  Capital  Stock which so matures or is  mandatorily  redeemable, is  so convertible  or exchangeable or is so redeemable at the option of the holder thereof prior to such date will be deemed to be Disqualified Stock; provided, further that any  Capital  Stock  that would constitute Disqualified Stock solely because  the  holders  thereof  have  the right to require the Borrower to repurchase such Capital Stock upon the occurrence of a Change  of Control  or Asset Disposition  shall  not constitute  Disqualified  Stock if the terms of such Capital Stock (and all such securities into which it is  convertible or for which it is ratable or exchangeable) provide that the Borrower may not repurchase or redeem any such Capital Stock (and all  such securities  into  which  it is convertible or for which it is ratable or exchangeable) pursuant to such provision prior to compliance by the Borrower with Section 6.02.

0010146-0000535 NYO1: 2000703970                                     .17

"Documentation   Agent"   means   BNP   Paribas,  as  documentation    agent under this
Agreement.

"Dollars" or "$" refers to lawful money of the United States of America.

"EEA Financial Institution" means (a) any credit  institution  or   investment  firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA  Member Country which is a subsidiary of an institution described in clauses (a) or (b) of  this definition and is subject to consolidated supervision with its parent.

"EEA Member Country" means any of the member states of the European Union, Iceland, Liechtenstein and Norway.

"EEA Resolution Authority" means any public administrative authority or any person entrusted with public administrative authority of any EEA  Member  Country   (including  any delegee) having responsibility for the resolution of any EEA Financial Institution.

"Electronic Signature" means an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.
"Electronic System" means any electronic system, including e-mail, e-fax, Intralinks®, ClearPar® and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent and the Issuing Banks and any of its respective Related Parties or any other Person, providing for access to data protected by passcodes or other security systems.
"Environmental Laws" means all Laws applicable to the Borrower or  any of  its Subsidiaries relating to pollution, the preservation or protection of  the  environment  (including without limitation air, water, land, subsurface strata, organisms, ecosystems, and biodiversity) or natural resources or harm to or the protection of human health or the health of animals  or plants  or the generation, manufacture, use, management, labeling, treatment,  storage,  handling, transportation, recycling or Release of, or exposure to, any Hazardous Material.
"Environmental Liability" means any liability or obligation (including any liability or obligation for or relating to damages, costs of environmental remediation, fines, penalties and indemnities), of the Borrower or any Subsidiary directly or indirectly resulting from or based upon
(a)noncompliance with any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure  to any Hazardous  Materials, (d) the Release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.
"ERISA" means, at any date, the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings  issued  thereunder,  all  as the same may be in effect at such date.

0010146-0000535 NYO1: 2000703970                                     .18

"ERISA Affiliate" means any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a single employer under  Section  414(b)  or  (c) of  the  Code  or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.
"ERISA Event" means (a) any "reportable event", as defined in Section 4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30 day notice period is waived); (b) the failure of any Plan to satisfy the minimum funding  standard of  Section 412 and 430 of the Code or Sections 302 or 303 of ERISA applicable  to such Plan, whether or not waived; (c) the filing  pursuant  to Section  412(c) of the Code or Section  303(c)  of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA (other than for PBGC premiums due but not delinquent under Section 4007  of ERISA) with  respect to the termination of any Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice of an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal  or  partial withdrawal  (within  the meanings of Sections 4203 and 4205 of ERISA) from any Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of  any notice,  or the  receipt  by any Multiemployer Plan from  the Borrower or any ERISA Affiliate of any notice, concerning the imposition of  Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in endangered or critical status, within the meaning of Title IV of ERISA.
"ESG Assurance Provider" means ERM Certification and Verification Services  (ERM CVS) or such other independent auditor or other qualified service provider appointed  by  the Borrower from time to time, which in each case is an external professional  services firm  qualified to verify, and regularly engaged in assessing, sustainability performance reporting.
"ESG Assurance Provider’s Certificate" means a certificate in the form of Attachment A  to Exhibit F hereto, signed by an officer of the ESG Assurance  Provider  providing limited  assurance with respect to the Borrower's performance in relation to the  ESG  Targets during  the most recently completed Financial Year.
"ESG-Based Pricing Ratchet" means, for any day:
i.from and including the Closing Date until  changed  in  accordance  with  the provisions set forth in clause (b) below, zero; and
ii.from and including the fifth (5th) Business  Day following  the  date on  which  the ESG Reporting Certificate with respect to the Financial Year ending December 31, 2021 is required to be  delivered in accordance with Section  5.01(c)(ii)  and continuing  with  respect to each Financial  Year thereafter, the  applicable  discount or premium determined by reference to the ESG Performance Outcome for the preceding Financial Year in accordance with the ESG Pricing Scale.

Each change in the ESG-Based Pricing Ratchet shall become effective on the fifth (5th) Business Day immediately following the date on which an ESG Reporting Certificate is require d

0010146-0000535 NYO1: 2000703970                                     .19

to be delivered pursuant to Section 5.01(c)(ii) and shall continue in effect for the period from and including such date through the date immediately preceding the effective date of the next such change. In the event that  any ESG Reporting  Certificate  delivered  pursuant  to Section  5.01(c)(ii) is determined to be inaccurate, and such inaccuracy, if corrected, would have led  to the application of a higher or lower ESG-Based Pricing Ratchet for any period (an "ESG-Based Pricing Ratchet Period") than the ESG-Based Pricing Ratchet applied for such ESG-Based Pricing Ratchet Period, then (a) the Borrower shall promptly (and in any event within five (5)  Business  Days) following such determination deliver to the Administrative Agent a  correct  ESG  Reporting  Certificate required by Section 5.01(c)(ii) for such ESG-Based Pricing Ratchet Period, (b) the ESG-Based Pricing Ratchet for such ESG-Based Pricing Ratchet Period shall be determined as if the ESG Performance Outcome were determined based on the information set forth in such correct ESG Reporting Certificate and (c)(x) the Borrower shall promptly (and in any event within ten (10) Business Days) following delivery of  such corrected ESG Reporting Certificate pay to the Administrative Agent the accrued additional interest and unused  commitment  fees  owing  as  a result of such increased ESG-Based Pricing Ratchet for such ESG-Based Pricing Ratchet Period; provided, that any accrued additional interest and unused commitment fees required to be paid pursuant to this clause (c)(x) shall not be deemed overdue or constitute a Default or an Event of Default (whether retroactively or otherwise) unless the Borrower fails to pay to the Administra tive Agent such accrued additional interest or unused commitment fees within ten (10) Business Days following delivery of the corrected ESG Reporting  Certificate  or  (y)  to the  extent that,  as a result of such inaccuracy, the Borrower paid to any Lender any interest or unused commitment fees in excess of the amounts the Borrower should have paid to such Lender, then such Lender,  if  and to the extent it remains a Lender on such Interest Payment Date, shall, in consultation with the Administrative Agent, credit such excess payment of interest or unused commitment fees (as applicable) against the amount of accrued interest and unused commitment fees owing by the Borrower to such Lender on the next Interest Payment Date.

If an ESG Target is no longer available, cannot be calculated or (in the opinion of the Borrower, acting reasonably) is no longer appropriate with respect to the Borrower, the  Borrower and the ESG Coordinator shall negotiate  in  good  faith  (for a period  of not more  than 60 days) with a view to agreeing (i) the relevant new ESG Target(s) or (ii)  a new ESG  Pricing  Scale relevant  to the remaining ESG Targets, in each case to be approved by the Administrative Agent, the ESG Coordinator and each of the Required Lenders (and, in the case of clause (ii) above, each of the Lenders). Failure to reach an agreement, or failure of any such agreement to be approved by the Administrative Agent, the ESG Coordinator and each of the Required Lenders (and, in the case of clause (ii) above, each of the Lenders), in either case by the end of such 60 day negotiation period shall result  in the occurrence of  an "ESG Termination Event" on  the first  Business  Day immediately following the end of such 60-day period.
In the event that the Borrower requests any extension of any Applicable Maturity Date pursuant to Section 2.22, the Borrower and ESG Coordinator may, at the Borrower's option, negotiate in good faith (for a period of not more than 60 days) with a view to agreeing to new ESG Targets for purposes of determining the ESG-Based Pricing Ratchet to be applied  as  of  the Financial Year following the Applicable Maturity  Date  until  any  proposed  Extended  Maturity Date, to be approved by the Administrative Agent, the ESG Coordinator, each of the Extending Lenders and, if applicable, each of the Additional Commitment Lenders. Failure to reach an agreement, or failure of any such agreement to be approved by the Administrative Agent, the ESG

0010146-0000535 NYO1: 2000703970                                     .20

Coordinator, each of the Extending Lenders and, if applicable, each of the Additional Commitment Lenders, in either case, shall (x) not affect the extension of any Applicable Maturity Date and (y) result in the ESG-Based Pricing Ratchet being  zero for any period  in  which there is  no agreement as to applicable ESG Targets.
"ESG Coordinator" means DNB Bank ASA, Sweden Branch.

"ESG Full Discount" means that the  relevant ESG Reporting  Certificate  delivered pursuant to Section  5.01(c) confirms that four ESG Targets have been achieved during  the Financial Year covered by such ESG Reporting Certificate
"ESG Full Premium" means that (x) the relevant ESG Reporting Certificate delivered pursuant to Section  5.01(c) confirms that zero ESG Targets have been achieved during  the Financial Year covered by such ESG Reporting Certificate or (y) the relevant ESG Reporting Certificate shall not have been delivered in accordance with Section 5.01(c).
"ESG Non-Adjustment" means that (x) the relevant ESG Reporting Certificate delivered pursuant to Section 5.01(c) confirms that two ESG Targets have been achieved during the Financial Year covered by such ESG Reporting Certificate or (y) an ESG Termination Event shall have occurred.
"ESG Partial Discount" means that the relevant ESG Reporting Certificate delivered pursuant to Section 5.01(c) confirms that three ESG Targets have been achieved during  the Financial Year covered by such ESG Reporting Certificate.

"ESG Partial Premium" means that the relevant ESG Reporting Certificate delivered pursuant to Section 5.01(c) confirms that one ESG Target has been achieved during the Financial Year covered by such ESG Reporting Certificate.

"ESG Performance Outcome" means, with respect to any completed Financial Year, the ESG Full Discount, the ESG Partial Discount, the ESG Non-Adjustment,  the ESG Partial Premium or the ESG Full Premium, as the case may be. For the avoidance of doubt, only one ESG Performance Outcome shall apply at any time.
"ESG Pricing Scale" means the table shown immediately below setting forth the ESG- Based Pricing Ratchet applicable to the Facility based on the ESG Performance Outcomes:

						
	ESG Performance Outcome
	ESG-Based Pricing Ratchet
	ESG Full Discount
	-0.10%

	ESG Partial Discount
	-0.05%

	ESG Non-Adjustment
	Zero

	ESG Partial Premium
	+0.05%

	ESG Full Premium
	+0.10%

0010146-0000535 NYO1: 2000703970                                     .21

"ESG Reporting Certificate" means a certificate, in the form of Exhibit F hereto or  any other form agreed to among the Administrative Agent, the ESG Coordinator and the Borrower, signed by the chief executive officer or the chief financial officer of the Borrower setting forth the Borrower's performance in relation to the ESG Targets during the  most  recently  completed Financial Year, accompanied by the ESG Assurance Provider's Certificate.
"ESG Target" means ESG Target 1, ESG Target 2, ESG Target 3 or ESG Target 4.

"ESG Target 1" has the meaning given to such term in Schedule II hereto.

"ESG Target 1 Metric” has the meaning given to such term in Schedule II hereto.
"ESG Target 2" has the meaning given to such term in Schedule II hereto.

"ESG Target 2 Metric" has the meaning given to such term in Schedule II hereto.

"ESG Target 3" has the meaning given to such term in Schedule II hereto.

"ESG Target 3 Metric" has the meaning given to such term in Schedule II hereto.

"ESG Target 4" has the meaning given to such term in Schedule II hereto.

"ESG Target 4 Metric" has the meaning given to such term in Schedule II hereto.
"ESG Termination Event" has the meaning assigned to such term in the definition of "ESG-Based Pricing Ratchet."
"EU Bail-In Legislation Schedule" means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.
"Eurodollar", when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined  by reference to the Adjusted LIBO Rate.
"Event of Default" has the meaning assigned to such term in Section 7.01.

"Excluded Taxes" means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise  Taxes, and branch profits  Taxes, in each case, (i) imposed as a result of such Recipient being  organized  under the laws of, or having its principal office or, in the case of any Lender, its applicable Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or  (ii)  that  are  Other Connection Taxes, (b) in the case of a Recipient, U.S. federal withholding  Taxes imposed  on amounts payable to or for the account of such Recipient pursuant to a law in effect on the date on which (i) such Recipient acquires such interest in the Loan or  Commitment or becomes a party to this Agreement (other than pursuant to an assignment request by an Obligor  under Section 2.19(b)) or (ii) such Recipient (if the Recipient  is a Lender) changes its Lending  Office, except in  each case to the extent that, pursuant to Section 2.17, amounts with respect to such Taxes were payable either

0010146-0000535 NYO1: 2000703970                                     .22

to such Recipient's assignor immediately before such Recipient acquired  such interest in  the  Loan or Commitment or became a party hereto or to such Recipient immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient's failure to comply  with  Section  2.17(f), and (d) any U.S. federal Taxes imposed under FATCA.
"Existing Facility Agreement" means that certain Facility Agreement dated January 27, 2017 between the Borrower, the lenders party thereto and DNB Bank ASA, Sweden branch, as administrative agent, as amended, supplemented or otherwise modified through the date hereof.

“Extended Maturity Date" has the meaning assigned to such term in Section 2.22(a). “Extending Lender" has the meaning assigned to such term in Section 2.22(b). “Extension Date" has the meaning assigned to such term in Section 2.22(a).
"Facility" means the Commitments and the Revolving Loans and Swingline Loans made,
and Letters of Credit issued, thereunder.

"Fair Market Value" means, with respect to any asset or property, the sale value that would be obtained in an arm's length free market  transaction  between  an informed  and  willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy, as determined in good faith by the Chief Executive Officer or a Financial Officer of the Borrower.
"FATCA" means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or official practices adopted pursuant  to any intergovernmental  agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code.

"Federal Funds Effective Rate" means, for any day, a fluctuating interest rate per annum equal to the weighted average of the  rates on overnight  Federal funds  transactions  with  members of the Federal Reserve System arranged by Federal funds  brokers,  as published for  such day (or,  if such day is not a Business Day, for the immediately preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which  is  a  Business Day, the average of the quotations for such day on such transactions received by the Administra tive Agent from three Federal funds brokers of  recognized standing reasonably selected by  the Administrative Agent; provided, that if the Federal Funds Effective Rate for any day is less than zero, the Federal Funds Effective Rate for such day will be deemed to be zero.

"Financial Covenant" means the financial covenant set forth in Section 6.04.

"Financial Officer" means the chief  financial officer, principal accounting  officer, treasurer or controller of the Borrower.
"Financial Quarter" means the period commencing on the day after one Quarter Date and
ending on the next Quarter Date.

0010146-0000535 NYO1: 2000703970                                     .23

"Financial Year" means the annual accounting  period of the  Borrower ending on
December 31 in each year.

"Fitch" means Fitch Ratings Inc. and any successor to its rating agency business. "Foreign Lender" means a Recipient that is not a U.S. Person.
"Fund" means a trust, fund or other entity or Person which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets.

"Governmental Authority" means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or   other  entity  exercising  executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies exercising such powers or functions, such as the European Union or European Central Bank).

"Guaranteed Obligations" has the meaning assigned to such term in Section 9.01. "Guarantor" has the meaning assigned to such term in the preamble.
"Hazardous Materials" means any material, substance or waste that is listed, regulated, or otherwise defined as hazardous, toxic or radioactive (or words of similar  regulatory  intent  or meaning) under any Environmental Law, or the exposure to which or  the Release of which  could give rise to any Environmental Liability or is otherwise capable of harm to human health or the environment.
"Honor Date" has the meaning assigned to such term in Section 2.06(e)(i).
"IFRS" means international accounting standards within the  meaning  of  the   IAS Regulation 606/2002 to the extent applicable to the relevant financial statements.

"Increase Period" has the  meaning  assigned  to such term in  Section  6.04(b). "Increased Amount Date" has the meaning assigned to such term in Section 2.04(a). "Incremental Commitments" has the meaning assigned to such term in Section 2.04(a). "Incremental Lender" has the meaning assigned to such term in Section 2.04(a).
"Indemnified Taxes" means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Obligor under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.
"Initial Lender" means any of the initial lenders listed on Schedule I.

"Interest Election Request" means a request by an Obligor to convert or continue a
Borrowing in accordance with Section 2.08 in the form of Exhibit H.

0010146-0000535 NYO1: 2000703970                                     .24

"Interest Payment Date" means (a) as to any ABR Loan, the last Business Day of each March, June, September and December and the date of termination of the Commitments, (b) as to any Eurodollar Loan, the last day of each Interest Period therefor and, in the case of any Interest Period of more than three (3) months' duration, each day prior to the last  day of  such Interest  Period that occurs at three (3) month intervals after the first  day of  such Interest Period,  and the date of termination of  the Commitments,  and (c) as to any Swingline  Loan,  the last Business  Day of each March, June, September and December and the date of termination of the Commitments.

"Interest Period" means with respect to each Eurodollar Borrowing, the   period commencing  on  the date such Eurodollar   Borrowing  is  made, or in  the case of the continuation   of a Eurodollar Borrowing the last day of the preceding  Interest Period for such advance, and ending on the numerically corresponding day in the first (1st), third (3rd) or sixth (6th) calendar month thereafter as the Borrower may select in an appropriate notice (or such other period  as selected by the Borrower in an appropriate notice and agreed to by the Administrative Agent, provided that, if such other period is shorter than six (6) months, such agreement by the Administrative Agent shall  not require any further consent or instructions from the Lenders; and provided, further, that if such other period is longer than six (6) months, such agreement by  the  Administrative  Agent  shall require each Lender's approval), except that each Interest Period that commences on the last Business Day of a calendar month (or on any day for which there is no numerically corresponding day in the appropriate subsequent calendar month) shall end on the last Business Day of the appropriate subsequent calendar month. Notwithstanding the foregoing: (a) if any Interest Period would otherwise end after the Maturity Date, such Interest Period shall end on such Maturity Date and (b) each Interest Period that would otherwise end on a day which is not a Business  Day shall end on the immediately following Business Day (or, if such immediately  following  Business  Day falls in the next calendar month, on the immediately preceding Business Day).
"Interest Rate, Currency or Commodity Price Agreement" means any forward contract, futures contract, swap, option or other financial agreement or arrangement (including, without limitation, caps, floors, collars and similar agreements) relating to, or the  value  of  which  is dependent upon, interest rates, currency exchange rates or commodity prices or indices (excluding contracts for the purchase or sale of goods in the ordinary course of business).
"Investment" by any Person means any direct or indirect loan,  advance or other  extension of credit or capital contribution (by means of transfers of cash or other property to others  or payments for property or services for the account or use of others, or otherwise) to, or purchase or acquisition of Capital Stock, bonds, notes, debentures or other securities or evidence of Debt issued by, any other Person, including any payment on a guarantee of any obligation of such other Person, together with all items that are or would be classified as Investments on a statement of financial position (excluding the footnotes thereto) prepared in accordance with IFRS, but shall not include
(a)trade accounts receivable in the ordinary course of business on credit terms made generally available to the customers of such Person, or (b) commission, travel, payroll,  entertainment, relocation and similar advances to officers and employees and profit sharing and other employee benefit plan contributions made in  the  ordinary  course  of business.  Except as otherwise  provided in this Agreement, the amount of an Investment will be determined at the time  the  Investment  is made and without giving effect to a subsequent  change in  value  and, to the extent applicable,  shall be determined based on the equity value of such Investment.

0010146-0000535 NYO1: 2000703970                                     .25

"Investment Grade" means (i) BBB- or above in the case of Fitch (or its equivalent  under any successor Rating Categories of Fitch), (ii) Baa3 or above, in the case of Moody's (or  its  equivalent under any successor Rating Categories  of  Moody's),  and (iii) the  equivalent  in  respect of the Rating Categories of any other Rating Agencies.
"IRS" means the United States Internal Revenue Service.

"Issuing Bank" means each of The Bank of Nova Scotia, BGL BNP Paribas S.A. and J.P. Morgan AG, in each case, in its capacity as an issuer of Letters of Credit hereunder, and any successors in such capacity as provided in Section 2.06(i).  The  Borrower,  the  Administrative Agent and any Lender may agree in writing that such Lender may issue Letters of Credit hereunder, in which case the term "Issuing Bank" shall include such Lender with respect to the  Letters  of  Credit issued by such Lender hereunder, and each reference to "Issuing Bank" shall mean the  applicable Issuing Bank or all Issuing Banks, as the context may require.
"Joint Venture" means any joint venture entity, whether a company, unincorporated firm,
undertaking, association, joint venture or partnership or any other entity.
"Joint Venture Consolidated EBITDA" means an amount equal to the product of (i) the Consolidated EBITDA of any Joint  Venture (determined  in  good  faith  by  a responsible  financial or accounting officer of the Borrower on the same basis as provided for in the definition of "Consolidated EBITDA" (with the exception of clause (i)  and the last  sentence thereof  regarding the addition of any Joint Venture Consolidated  EBITDA to the calculation)  as if  each reference to the Borrower in such definition was to such Joint Venture) whose financial results are not consolidated with those of such Person in accordance with IFRS and (ii) a percentage equal to the direct or indirect equity ownership percentage of the Borrower and/or any of its Subsidiaries in the Capital Stock of such Joint Venture and its Subsidiaries.
"KYC Requirements" has the meaning assigned to such term in Section 4.01(g).

"Law" means any law (including common law), statute,  directive,  regulation,  rule, ordinance, code, requirement, binding agreement, statutory guidance, regulatory code of practice, judgment, order, executive order, decree, injunction, decision, determination or permit  issued, entered into, or promulgated by or with a Governmental Authority.
"LC Commitment" means, as to any Issuing Bank, its commitment to issue Letters  of Credit, and to amend or extend Letters of Credit  previously issued by it, pursuant  to Section  2.06,  in an aggregate amount at any time outstanding not to exceed (a) in the case of any Issuing Bank party hereto as of the Closing Date, the amount set forth opposite such Issuing Bank's name on Schedule I under the heading "Letter of Credit Commitments"  and (b) in  the  case of  any Lender that becomes an Issuing Bank following the Closing  Date, that amount  which  shall be set forth in the written agreement by which such Lender shall become an Issuing Bank, in each case as the maximum outstanding amount of Letters of Credit to be issued by such Issuing Bank, as such commitment may be changed from time to time pursuant  to the terms hereof or with  the agreement in writing of such Issuing Bank, the Borrower, the Administrative Agent. The aggregate LC Commitments of all Issuing Banks shall be less than or equal to $100,000,000 at all times.

0010146-0000535 NYO1: 2000703970                                     .26

"LC  Disbursement" means  a payment  made  by  any Issuing  Bank pursuant  to a Letter of Credit.

"LC  Exposure" means, at any  time,  the  sum of  (a) the  aggregate  undrawn  amount  of all

outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements  that have not yet been reimbursed by  or  on behalf  of the Obligors  at such time.  The LC Exposure of any Lender at any time  shall  be its  Applicable  Percentage of the total LC Exposure  at such time.
“Lender Notice Date" has the meaning assigned  to such term in  Section  2.22(b). "Lenders" means  the  Initial   Lenders listed  on  Schedule  I  and any other  Person that shall
have become a party hereto pursuant  to Section  2.04 or an Assignment  and Assumption,  other than
any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context otherwise requires, the term "Lenders" includes the Swingline Lender and the Issuing Banks.

"Lending Office" means, as to any Lender, the office or offices of  such Lender  described as such in such Lender's Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify a Borrower and the Administrative Agent which office may include   any Affiliate of such Lender or any domestic or foreign branch of such Lender or such Affiliate; provided, that such other office or offices, Affiliate or branch shall not  increase  the  amounts payable by the Obligors under Section 2.15 or 2.17 (unless approved by the Borrower). Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office.

"Letter of Credit" means a letter of credit issued or to be issued by any Issuing  Bank pursuant to this Agreement, which letter of credit shall  be (a) a standby letter of credit  or (b) solely to the extent agreed by the applicable Issuing Bank in its sole discretion, a commercial or "trade" letter of credit.

"Letter of Credit Request" means a request, substantially in the form attached hereto as
Exhibit E, by the applicable Obligor for a Letter of Credit in accordance with Section 2.06.

"LIBOR Market Index Rate" means, for any day, the Adjusted LIBO Rate as of that day that would be applicable for a Eurodollar Loan having a one-month Interest Period determined at approximately 10:00 a.m. London time for such day, or if such day is not a Business Day, the immediately preceding Business Day. The LIBOR Market Index Rate shall be  determined  on  a daily basis. If the LIBOR Market Index Rate determined as provided  above  would be  less  than zero, the LIBOR Market Index Rate shall be deemed to be zero.

"Lien" means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or  security  interest  in,  on or  of such asset, (b)  the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention  agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in  the  case of securities,  any purchase option,  call or  similar  right  of a third party with respect to such securities.

"Limited  Condition  Transaction"  means  (i)  any  Investment  or  acquisition,   including by
way of merger, amalgamation   or consolidation,  in  each case, by one  or more  of the  Borrower and

0010146-0000535 NYO1: 2000703970                                     .27

its Restricted Subsidiaries of any assets, business or  Person  whose  consummation  is  not conditioned on the availability of, or on obtaining, third party financing and (ii) any redemption, repurchase, defeasance, satisfaction and discharge  or repayment of Debt  requiring irrevocable notice in advance of such redemption, repurchase, defeasance, satisfaction and discharge  or repayment.
"Loan Documents" means this Agreement, including without limitation, the schedules and exhibits hereto, the Administrative Agent Fee Letter, the Notes (if any), and any other document designated as a "Loan Document" by the Administrative Agent and the Borrower.
"Loan Parties" means the Obligors and the Guarantor.

"Loans" means the loans made by the Lenders to the Obligors pursuant to this Agreement.
"Luxembourg" means the Grand Duchy of Luxembourg.

"Luxembourg Commercial Code" means the Code de Commerce of Luxembourg.

"Luxembourg Companies Act" means the Luxembourg act dated 10 August 1915 on commercial companies, as amended.
"Luxembourg Loan Party" means each Loan Party organized under the  laws of Luxembourg.
“Mandated Lead Arrangers" means, collectively, BGL BNP Paribas S.A. and The Bank
of Nova Scotia, as joint bookrunners and joint mandated lead arrangers under this Agreement.

"Material Adverse Effect" means any event or circumstance that has a material adverse effect on (a) the ability of the Loan Parties (taken as a whole) to perform their payment obligations under the Loan Documents or (b) the validity or enforceability  of  the  Credit  Agreement  or  the rights or remedies of the Lenders thereunder.
"Material Intellectual Property" has the meaning assigned to such term in Section 5.05(b). "Maturity Date" means October 15, 2025 (as such date may be extended in accordance
with Section 2.22).
"Maximum Rate" has the meaning assigned to such term in Section 10.14.
"Minority Shareholder Loans" means Debt of a Restricted Subsidiary that is issued to and held by an equity owner of such Restricted Subsidiary, other than the Borrower or a Subsidiary of  the Borrower.
"Moody’s" means Moody's Investors Services, Inc. and any successor to its rating agency
business.

"Multiemployer Plan" means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

0010146-0000535 NYO1: 2000703970                                     .28

“Non-Extending Lender" has the meaning assigned to such term in Section 2.22(b).
"Note" means any promissory note executed by an applicable Obligor to evidence the
Loans made to it in accordance with Section 2.11(c), which shall be in the form of Exhibit G.

"Obligations" means the unpaid principal of and interest on  (including  interest accruing after the maturity of the Loans and LC Disbursements and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Obligors, whether or  not  a claim  for  post-filing  or  post-petition  interest  is  allowed in such proceeding) the Loans and all other obligations and liabilities of the Obligors to any Credit Party, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, any other Loan Document, the  Letters of Credit or any other document made, delivered or given  in  connection herewith or therewith, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including all fees, charges and disbursements of counsel to the Credit Parties that are required to be paid by any Obligor pursuant hereto)  or otherwise.

"Obligors"   means,   collectively,    the   Borrower   and  any  Additional    Borrowers, and
"Obligor" means any one of them individually.
"OFAC" means Office of Foreign Assets Control of the United States Department of the
Treasury.

"Other Connection Taxes" means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising  from such Recipient  having executed,  delivered,  become  a party to, performed its obligations under, received payments under, received or  perfected a  security interest under, engaged in any other transaction pursuant  to or enforced any Loan  Document,  or sold or assigned an interest in any Loan or Loan Document).

"Other Taxes" means all present or future stamp, court or documentary,  intangib le, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.19).

"Participant" has the meaning assigned to such term in Section 10.04(c).

"Participant Register" has the meaning assigned to such term in Section 10.04(c).
"Payment Office" means the office of the Administrative Agent specified in or determined
in accordance with the provisions of Section 10.01.

"PBGC" means the Pension Benefit Guaranty Corporation referred to and defined  in ERISA and any successor entity performing similar functions.

0010146-0000535 NYO1: 2000703970                                     .29

"Permitted Asset Swap" means the concurrent purchase and sale or exchange of related business assets or a combination of  related business  assets, cash and  Cash Equivalents  between  the Borrower or any of its Subsidiaries and another Person.

"Permitted Debt" means:
a.any Debt under this Agreement in an aggregate amount not to exceed the amount thereof drawn on the Closing Date;

b.Debt (other than Debt described in another clause of this definition) that is (x) outstanding on the date of this Agreement or (y) committed or mandated  on the date of this Agreement and disclosed in writing to the Lenders and the Administra tive Agent prior to such date;
c.Pari passu Debt of the Borrower or its Restricted Subsidiaries  under   Credit Facilities and any Permitted Refinancing Debt in respect thereof, in an aggregate principal amount at any one time outstanding that does not  exceed an amount  equal to the greater of (A) $900,000,000 and (B) eight percent (8%) of Total Assets, plus,
(1)any accrual or accretion of interest that increases the principal amount of Debt under Credit Facilities and (2) in the case of  any refinancing  of  Debt  permitted under this clause (c) or  any portion thereof, the aggregate amount of  fees, underwriting discounts and commissions, premiums and other costs and expenses incurred in connection with such refinancing;

d.Debt owed by the Borrower to any of its Restricted Subsidiaries or Debt owed by any Restricted Subsidiary to the Borrower or any other Restricted Subsidiary; provided, that (A) if the Borrower is the obligor on such Debt, such Debt must be unsecured and expressly subordinated (it being understood that any such subordination terms must be effective at the time such Debt is incurred;  provided that, such subordination shall only apply during the existence of an Event of Default pursuant to clauses 7.01(a), (b), (h) or (i) or following an acceleration of the Loans pursuant to Section 7.01) to the prior payment in full in cash of all of the Borrower's obligations under the Facility, and (B) either  (x) the transfer or other  disposition  by the Borrower or such Restricted Subsidiary of any Debt so permitted to a Person (other than to the Borrower or any of its Restricted Subsidiaries) or (y) such Restricted Subsidiary ceasing to be a Restricted Subsidiary of the Borrower, will at the time of such transfer or other disposition, in each case, be deemed to be an incurrence of such Debt not permitted by this clause (d);

e.Acquired Debt;
f.Minority Shareholder Loans;

g.Permitted Refinancing Debt of the Borrower or any Restricted Subsidiary incurre d in exchange for or the proceeds of which are used to refinance or refund or replace, or any extension or renewal of (including, in each case, successive refinancings, extensions and renewals), Debt of any such Person incurred in compliance with the

0010146-0000535 NYO1: 2000703970                                     .30

Debt Incurrence Test or clauses (a), (b), (e) or this clause (g) of  this  definition, as the case may be;

h.Debt of the Borrower or  any Restricted Subsidiary represented by letters  of  credit in order to provide security for workers' compensation claims, health, disability  or other employee benefits, payment obligations in connection with self- insurance or similar requirements of the Borrower or any Restricted Subsidiary in the ordinary course of business;

i.customary indemnification, adjustment of purchase price or similar obligations, in each case, incurred in connection with the disposition of any assets of the Borrower or any Restricted Subsidiary, and earn-out provisions or contingent payments in respect of purchase price or adjustment of purchase price or similar obligations in acquisition agreements other than guarantees of Debt incurred by any Person acquiring all or any portion of such assets for the purpose of financing such acquisition; provided that the maximum aggregate liability in respect of each such incurrence of such Debt will at no time exceed the gross proceeds actually received by the Borrower or any Restricted Subsidiary in connection  with the  related disposition;

j.obligations in respect of (i) customs, VAT or  other tax guarantees, (ii) bid, performance, completion, guarantee, surety and similar  bonds,  including  guarantees or obligations of the Borrower or any Restricted Subsidiary with  respect to letters of credit supporting such obligations and (iii) the financing of insurance premiums, in each case, in the ordinary  course of business  and not  related to Debt for borrowed money;

k.Debt of the Borrower or any Restricted Subsidiary arising from the honoring by a bank or other financial institution of a check, draft or similar  instrument  including, but not limited to, electronic transfers, wire transfers, netting  services  and commercial card payments, drawn against insufficient funds; provided  that  such Debt is extinguished within thirty (30) days of incurrence;
l.guarantees by the Borrower or any Restricted Subsidiary of Debt or any other obligation or liability  of the  Borrower or any Restricted Subsidiary  (other than of  any Debt incurred in violation  of  Section  6.03 hereof); provided,  however,  that if the Debt being guaranteed is subordinated in right of payment to the Loans or any guarantee of the Loans, then such guarantee shall be subordinated  substantially  to the same extent as the relevant Debt guaranteed;

m.Debt arising under borrowing facilities provided by a special purpose vehicle notes issuer to the Borrower or any Restricted Subsidiary in connection  with  the issuance of notes or other similar debt securities intended to be supported primarily by the  payment obligations of the Borrower  or any Restricted Subsidiary  in  connection  with any vendor financing platform;

0010146-0000535 NYO1: 2000703970                                     .31

n.Debt of the Borrower or any Restricted Subsidiary in an aggregate outstanding principal amount which, when taken together  with any Permitted Refinancing  Debt in respect thereof and the principal amount of all  other  Debt incurred  pursuant  to this clause (n) and then outstanding, will not exceed 100%  of the cash proceeds (net of attorneys' fees, accountants' fees, underwriters' or   placement  agents'  fees, listing fees, discounts or commissions and brokerage, consultant and other fees and charges actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or deductions and any tax sharing  arrangements))  received by the Borrower or any Restricted Subsidiary from the issuance or sale  (other than to the Borrower or a Restricted Subsidiary) of its Minority  Shareholder  Loans  or Capital Stock or otherwise contributed to the equity of the Borrower, in each case, subsequent to the date of execution of this Agreement (and in each case, other than through the issuance of Disqualified Stock or Preferred Stock);

o.Debt consisting of (i) mortgage financings, asset  backed  financings,  Purchase Money Obligations or other financings, incurred for the purpose  of financing  all  or any part of the purchase price or cost of design, construction, installation or improvement (including, without limitation, in respect of tenant improvement) of property (real or personal), plant, equipment or other assets (including, without limitation, network assets) used or useful in the business of the Borrower or any Restricted Subsidiary or (ii) Debt otherwise incurred to finance the purchase, lease, rental or cost of design, development, construction, installation or improvement (including, without  limitation,  in  respect of  tenant improvement)  of property  (real or personal),  plant, equipment or  other assets (including,  without  limitation , network assets) used or useful in the business of the Borrower or any Restricted Subsidiary whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, and any Permitted Refinancing Debt in  respect thereof, in an aggregate outstanding principal amount which, when taken together with the principal amount of all other Debt incurred pursuant to  this  clause  (o)  will  not exceed the greater of (1) $250,000,000  and (2)  three percent (3%) of  Total Assets at any time outstanding; or
p.Debt not otherwise permitted to be incurred pursuant to clauses  (a) through  (o) above, which, together with any other outstanding Debt incurred pursuant to this clause (p), including any Permitted Refinancing Debt in respect thereof, has an aggregate principal amount at any time outstanding not in excess of the greater of
(A)$300,000,000 and (B) four percent (4%) of Total Assets, plus, in the  case of  any refinancing of Debt permitted under this clause (p) or any portion thereof, the aggregate amount of fees, underwriting discounts and commissions, premiums and other costs and expenses incurred in connection with such refinancing.

In the event that an item of Debt meets the criteria of more than one of the  types  of Permitted Debt or is entitled to be incurred  in  accordance with  the  Debt Incurrence Test, the Borrower in its sole discretion  may classify  and from time  to time  reclassify such item of Debt or any portion thereof and only be required to include the amount  of such Debt as  one of such types.

0010146-0000535 NYO1: 2000703970                                     .32

"Permitted Disposals" means:
(a)any dispositions of assets in a single transaction or series of transactions with an aggregate Fair Market Value in any calendar year of not more than the greater of
(x) $25,000,000 and (y) 1% of Total Assets (with unused amounts in any calendar year being carried over to the next succeeding year subject to a maximum of the greater of $25,000,000 and 1% of Total Assets of carried over amounts for any calendar year);

(b)any Specified Subsidiary Sale;
(c)any disposition of Tower Equipment, including any Sale/Leaseback Transaction; provided that any cash or Cash Equivalents received in connection with such disposition (the "Permitted Disposal Net Available Proceeds") are applied, within
365 days of such disposition or Sale/Leaseback Transaction, at  the  Borrower's option, to (i) repay, redeem, retire or cancel outstanding Senior Secured Debt; (ii) repurchase, prepay, redeem or repay Debt of the Borrower that ranks pari passu in right of payment  to the Loans; (iii) to acquire all  or substantially  all of the assets of, or any Capital Stock of, another Related Business, if, after giving effect to any such acquisition of Capital Stock, the Related Business  is or becomes a Restricted Subsidiary of the Borrower; (iv) to make a capital expenditure  or  acquire  other assets (other than Capital Stock  and cash or Cash Equivalents),  rights  (contractual or otherwise) and properties, whether tangible or intangible (including ownership interests) that are used or intended for use in connection with a Related Business;
(v) to repay any outstanding Obligations hereunder; (vi) enter into a binding commitment to apply the Permitted Disposal Net Available Proceeds pursuant to sub-clauses (iii) or (iv) of  this  clause (c), provided that such binding  commitment (or any subsequent binding commitment replacing  the initial  binding  commitment that is entered into within 180 days following the aforementioned  365-day  period) shall be treated as a permitted application of the such Permitted Disposal Net Available Proceeds from the date of such commitment until the earlier  of (x)  the  date on which such acquisition or expenditure is consummated and  (y)  the  180th day following the expiration of the aforementioned 365-day period; or (vii) any combination of the foregoing sub-clauses (i) through (vi) of this clause (c);

(d)a transfer of assets between or among the Borrower and/or any of its Restricted Subsidiaries;
(e)the issuance of Capital Stock by a Restricted Subsidiary to any Obligor or to another Restricted Subsidiary;

(f)any disposition of Capital Stock of  a Restricted Subsidiary pursuant  to  an agreement or other obligation with or to a person (other than any Obligor or any Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having  been newly formed in connection with such acquisition), made as part of such acquisition

0010146-0000535 NYO1: 2000703970                                     .33

and in each case comprising all or a portion of the consideration in respect of such  sale or acquisition;

(g)the sale, lease or other transfer of products, services, accounts receivable, inventory or other assets in the ordinary  course of  business  and any sale  or other disposition of damaged, surplus, worn-out or (in the good faith judgement of the Borrower) obsolete assets;
(h)dispositions in connection with Permitted Liens;

(i)disposals of assets, rights or revenue not constituting  part of  the  Related Business and other disposals of non-core assets acquired in connection with any acquisition permitted under this Agreement;

(j)licenses and sublicenses of any Obligor or any Restricted Subsidiary in the ordinary course of business;
(k)any surrender or waiver of contract rights or settlement, release, recovery on, or surrender of, contract, tort or other claims in the ordinary course of business;

(l)the disposition of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings;
(m)a transfer or disposition of assets that is governed by the  provisions  of  Section 6.01(i) of this Agreement;

(n)the sale or other disposition of cash or Cash Equivalents;

(o)the foreclosure, condemnation or any similar action with respect to any property or other assets;
(p)a transfer or disposition of  assets that is governed by  Section  6.07  of this Agreement;
(q)sales of accounts receivable and related assets or an interest therein of the type specified in the definition of "Qualified Receivables Transaction" to a Receivables Entity, and Investments in a Receivables Entity consisting of cash or securitization obligations;
(r)any disposition or expropriation  of assets or Capital  Stock  which  any Obligor  or  any Restricted Subsidiary is  required by, or made in response to concerns raised by,  a regulatory authority or court of competent jurisdiction;

(s)any disposition of Capital Stock, Debt or other securities  of an Unrestricted Subsidiary;

0010146-0000535 NYO1: 2000703970                                     .34

(t)disposal of non-core assets acquired in connection with any acquisition permitted under this Agreement;

(u)any disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to be outsourced by any Obligor or any Restricted Subsidiary to such Person;
(v)any disposition of Investments in Joint Ventures to the extent required by, or made pursuant to, customary buy/sell arrangements between the Joint Venture parties set forth in Joint Venture arrangements and similar binding agreements; provided that  any cash or Cash Equivalents received in connection with such disposition are applied, within 365 days of  such disposition, at the  Borrower's  option,  in accordance with sub-clauses (i) through (vii) of clause (c) of this definition of "Permitted Disposals";
(w)any sale or disposition with respect to property built, repaired, improved, owned or otherwise acquired by  any Obligor or  any Restricted Subsidiary pursuant  to customary sale and leaseback transactions, asset securitizations and other similar financings permitted by this Agreement;
(x)any dispositions constituting the surrender of tax losses by any Obligor or  a Restricted Subsidiary (i) to any Obligor or a Restricted Subsidiary; (ii) in order to eliminate, satisfy or discharge any tax liability of any person that was formerly a subsidiary of an Obligor which  has been disposed of pursuant to a  disposal  permitted by the  terms of this Agreement, to the extent that such Obligor or Restricted Subsidiary would have a liability (in the form of an indemnificat ion obligation or otherwise) to one  or  more  persons  in  relation  to such  tax liability  if not so eliminated, satisfied or discharged;
(y)the disposal of up to twenty-five  percent (25%)  of the  outstanding  ordinary  shares or other Capital Stock of any of the Subsidiaries of the Borrower organized or operating in Tanzania in a public offering and listing on the Dar es Salaam Stock Exchange or any other exchange approved by the Borrower;
(z)Permitted Asset Swaps; and
(aa)    any other disposal of assets not described in clauses (a) through (z) above consisting in the aggregate a value of ten percent (10%) or less of Total Assets.

"Permitted Investments" means (1) any loan made by any member of the Restricted Group to any other member of the Restricted Group, (2) loans or advances to employees and officers (or guarantees of intra-Restricted Group loans to employees or officers) in the ordinary course of business; (3) customary cash management, cash pooling  or  netting  or  setting  off  arrangements; and (4) the granting of Liens pursuant to clause (n) of the definition of Permitted Liens.
"Permitted Interest Rate, Currency or Commodity Price Agreement" means any Interest Rate, Currency or Commodity Price Agreement entered into with one or more financial  institutions in the ordinary course of business that is designed to protect against fluctuations in interest rates

0010146-0000535 NYO1: 2000703970                                     .35

or currency exchange rates and which shall have a notional amount no  greater than the  payments due with respect to the Debt being hedged thereby, or in the case of currency or commodity protection agreements against currency exchange or commodity price fluctuations in the ordinary course of business relating to then existing financial obligations and not  for  purposes   of   speculation.
"Permitted Liens" means:

(a)Liens for taxes, assessments or governmental charges or levies  on  the property  of the Borrower or any Restricted Subsidiary if the same shall not at the time be delinquent or thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision that shall be required in conformity with IFRS shall have been made therefor;
(b)Liens imposed by law, such as statutory Liens of landlords', carriers', warehousemen's and mechanics' Liens and other similar  Liens,  on the property  of the Borrower or any Restricted Subsidiary in the ordinary course of business arising solely by virtue of any statutory or common law (but not contractual) provisions relating to bankers' Liens, rights of set-off or similar rights and remedies  as to  deposit accounts or other funds maintained with a creditor depositary institution;

(c)Liens on the property of the Borrower or any Restricted Subsidiary incurred in the ordinary course of business to secure performance of obligations with respect to statutory or regulatory requirements, performance bids, trade contracts, letters of credit performance  or return-of-money  bonds,  surety bonds  or other  obligations  of a like nature and incurred in a manner consistent  with  industry  practice,  in  each case which are not incurred  in connection  with the borrowing of money,  the obtaining of advances or credit or the payment of the deferred purchase price of property and which do not  in  the  aggregate impair  in  any material respect the  use of property in the operation of the business of the Borrower and its Restricted Subsidiaries taken as a whole;
(d)Liens on property at the time the Borrower or any Restricted Subsidiary acquire d such property, including any acquisition by means of a merger or consolidatio n; provided, however, that any such Lien may not extend to any other property of the Borrower or any Restricted Subsidiary;
(e)Liens on the property of a Person at the time such Person becomes a Restricted Subsidiary; provided, however, that any such Lien may not extend to any other property of  the Borrower or  any Restricted Subsidiary  that is  not  a direct or,  prior to such time, indirect Subsidiary of such Person (other than pursuant to after- acquired property clauses in effect with respect to such Lien at  the  time  of acquisition on property of the type that would have been subject to such Lien notwithstanding the occurrence of such acquisition);

0010146-0000535 NYO1: 2000703970                                     .36

(f)pledges or deposits by the Borrower or any Restricted Subsidiary under workmen's compensation laws, unemployment insurance laws or similar  legislation,  or  good faith deposits in connection with bids, tenders, contracts (other than for the payment of Debt) or leases to which the Borrower or any Restricted Subsidiary is party, or deposits  to secure public  or statutory obligations  of  any member  of the  Borrower  or any Restricted Subsidiary or deposits for the payment of rent, in each  case incurred in the ordinary course of business;

(g)utility easements, building restrictions and such other encumbrances or charges against real property as are of a nature generally  existing  with  respect to properties of a similar character;
(h)Liens in favor of a credit card processor arising in the ordinary course of business under any processor agreement;
(i)any provision for the  retention  of title  to any property  by the  vendor  or transferor  of such property which property is acquired by the Borrower or any Restricted Subsidiary in a transaction entered into in the ordinary course of business of the Borrower or any Restricted Subsidiary and for which kind of transaction it is customary market practice for such retention of title provision to be included;
(j)Liens arising by means of any  judgment, decree or  order of  any court  so long  as any appropriate legal proceedings  which may have been duly  initiated  for  the review of such judgment, decree or order have not been fully terminated or  the  period within which such proceedings may be initiated  has not  expired  and  any Liens that are required to protect or enforce rights in any administrative,  arbitration or other court proceeding in the ordinary course of business;

(k)Liens securing Debt of the Borrower or any Restricted Subsidiary under any Credit Facility;
(l)Liens securing any Permitted Interest Rate, Currency or  Commodity Price Agreement;

(m)Liens securing Acquired Debt described in clause (a) of the definition thereof (provided that any Liens securing Permitted Refinancing Debt with respect thereto shall not be a Permitted Lien pursuant to this clause (m));
(n)Liens on the Capital Stock or  other securities  or assets of any Unrestricted Subsidiary to secure Debt of that Unrestricted Subsidiary;
(o)mortgages, liens, security interests, restrictions,  encumbrances or any other matters of record that have been placed by any developer, landlord or other third party on property over which the Borrower or any Restricted Subsidiary has easement rights or on any real property leased by the Borrower or any Restricted Subsidiary or similar agreements relating thereto and any condemnation or eminent domain proceedings or compulsory purchase order affecting real property;

0010146-0000535 NYO1: 2000703970                                     .37

(p)Liens existing on the date of execution of this Agreement;
(q)Liens in favor of the Borrower or any Restricted Subsidiary;

(r)Liens securing customary indemnification, adjustment of purchase price or similar obligations, in each case, incurred in connection with the   disposition  of   the Borrower or any Restricted Subsidiary, and earn-out provisions or contingent payments in respect of purchase price or adjustment of purchase price or similar obligations in acquisition agreements other than guarantees of Debt incurred by any Person acquiring all or any portion of such assets for the purpose of financing such acquisition;
(s)Liens securing Debt of the Borrower or any Restricted Subsidiary arising from the honoring by a bank or other financial institution of  a check, draft or  similar instrument including, but not limited to, electronic transfers, wire transfers, netting services and commercial card payments, drawn against insufficient funds;
(t)Liens on insurance policies and the proceeds thereof, or other deposits, to secure insurance premium financings in respect of  the  Borrower or  any Restricted Subsidiary;
(u)Liens arising from financing statement filings (or other similar  filings  in  any  applicable jurisdiction) regarding operating leases entered into by any Restricted Subsidiary in the ordinary course of business;

(v)Liens on goods (and the proceeds thereof) and documents of title and the property covered thereby securing Debt in respect of commercial letters of credit issued to facilitate the purchase, shipment or storage of such inventory or other goods;

(w)Liens for the purpose  of securing  the payment of all or a part of  the purchase price of Capital Lease Obligations, Purchase Money Obligations or  other  payments incurred by the  Borrower or any of its Restricted Subsidiaries to finance the acquisition, improvement or construction of, assets or  property acquired or constructed in the ordinary course of business; provided that such Liens do not encumber any other assets or property of the Borrower or any Restricted Subsidiary other than such assets or property and assets affixed or appurtenant thereto;
(x)Liens on property of  any Restricted Subsidiary to secure Debt incurred  in compliance with the Debt Incurrence Test or of the  type  described  in  clauses (h), (i), (j), (k) and (o) of the definition of "Permitted Debt";
(y)Liens on any escrow account used in connection with an acquisition of property or Capital Stock of  any Person or  pre-funding a refinancing of Debt otherwise permitted by this Agreement;

(z)Liens on the Borrower's and any Restricted Subsidiary's deposits  in  favor  of financial institutions arising from any netting or set-off arrangement substantially consistent with its current practice for the purpose of netting debt and credit

0010146-0000535 NYO1: 2000703970                                     .38

balances substantially consistent with the Borrower's or  such  Restricted  Subsidiary's existing cash pooling arrangements;

(aa) Liens incurred in the ordinary course of business of the Borrower or any Restricted Subsidiary    with    respect   to   obligations     that   do  not    exceed   the    greater of
$500,000,000   or four percent (4%) of Total  Assets at any one  time  outstanding and
that do not in the aggregate materially detract from the value of the property of the Borrower, or materially impair the use thereof in the operation of business by the Borrower or its Restricted Subsidiaries;
(bb) Liens over cash or other assets that secure collateralized obligations incurred as Permitted Debt; provided that the amount of cash collateral does not exceed the principal amount of the Permitted Debt;

(cc) Liens on Restricted MFS  Cash of  the  Borrower  or  any Restricted  Subsidiary  in favor of the customers or dealers of, or third parties in relation to the provision of mobile financial services, in each case who provided such Restricted MFS Cash to the Borrower or such Restricted Subsidiary;

(dd) Liens over rights under  loan agreements relating to, or  over notes  or  similar instruments evidencing, the on-loan of proceeds received by the Borrower or any Restricted Subsidiary from the issuance of Debt, which Liens are created to secure payment of such Debt;

(ee) Liens on Receivables and related assets of the type described in the definition of "Qualified Receivables Transaction" incurred  in connection with a Qualified Receivables Transaction, and Liens on Investments in Receivables Entities;

(ff)      Liens  consisting  of any right  of set-off granted to any financial  institution   acting  as a lockbox bank in connection with a Qualified Receivables Transaction;
(gg) Liens for the purpose of perfecting the ownership  interests of a purchaser of Receivables and related assets pursuant to any Qualified Receivables Transaction;
(hh) Liens arising in connection with other sales of  Receivables  permitted  hereunder without recourse to the Borrower or any of its Restricted Subsidiaries;
(ii) Liens in respect of the ownership   interests  in,  or  assets  owned  by,  any  Joint  Ventures or similar arrangements, other than Joint Ventures or  similar arrangements that are Restricted Subsidiaries, securing obligations of such Joint Ventures or similar agreements;
(jj) any encumbrance or  restriction (including, but not  limited  to,   put  and  call arrangements) with respect to Capital Stock of any Joint Venture or similar arrangement pursuant to any Joint Venture or similar agreement; and

(kk) Liens on the property  of the  Borrower or any Restricted Subsidiary  to replace in  whole or in part, any Lien described in the foregoing clauses (a) through (jj);

0010146-0000535 NYO1: 2000703970                                     .39

provided that any such Lien is limited to all or part of the same property or  assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Debt being refinanced or in respect of property that is the security for a Permitted Lien hereunder.
"Permitted Refinancing Debt" means any renewals, extensions, substitutions , defeasances, discharges, refinancings or replacements (each, a "refinancing") of any Debt of the Borrower or a Restricted Subsidiary pursuant  to this definition, including any successive refinancings, as long as: (a) such Permitted Refinancing Debt is  in  an aggregate principal  amount (or if incurred with original issue discount, an aggregate issue price) not in excess of the sum of:
(i)the aggregate principal amount (or if incurred with original issue  discount,  the  aggregate accreted value plus all accrued interest) then outstanding of the Debt being refinanced; and (ii) an amount necessary to pay any fees and expenses, including premiums  and defeasance costs, related to such refinancing; (b) such Permitted Refinancing Debt has (i) a stated maturity  that is  either (X) no earlier than the stated maturity of the Debt being refinanced  or (Y) after the  stated maturity  of the Loans and (ii) a Weighted Average Life-to-Maturity  that is equal to or greater than  the Weighted Average Life-to-Maturity  of  the Debt being refinanced; and (c) if the Debt being refinanced is subordinated in right of payment to the Loans, such Permitted Refinancing Debt is subordinated in right of payment to, the Loans on terms at least  as favorable  to  the  Lenders  as those contained in the documentation governing the Debt being refinanced; and (d) if the Borrower was the obligor on the Debt being refinanced, such Permitted Refinancing Debt is incurred by the Borrower.
Permitted Refinancing Debt in respect of any Credit Facility or any other Debt may be  incurred from time to time after the termination, discharge or repayment of all or any part of such Credit Facility or other Debt. Permitted Refinancing Debt shall not include any Debt of  the Borrower or  any Restricted Subsidiary that refinances Debt of an Unrestricted Subsidiary.
"Permitted Reorganization" means (a) an amalgamation, merger, consolidation, corporate reconstruction, or reorganization involving any Obligor where  the entity  formed  by or  surviving such amalgamation, merger, consolidation, corporate reconstruction, or reorganization is such Obligor; (b) an amalgamation, merger, consolidation, corporate reconstruction, or reorganization involving a Restricted Subsidiary (other than an Obligor) where the entity formed by or surviving such amalgamation, merger, consolidation, corporate reconstruction, or reorganization  is  a Restricted Subsidiary; (c) any liquidation, winding up, or  dissolution  of any Restricted Subsidiary that is not a Significant Subsidiary or an Obligor undertaken in connection with a corporate reorganization,  provided  that such liquidation,  winding  up, or dissolution is  not  materially  adverse to the interests of the Lenders.
"Person" means any individual, corporation, partnership, joint venture,  association,  joint stock company, trust, unincorporated organization,  limited  liability  company  or  government  or other entity.

"Plan" means any employee pension benefit plan within the meaning of Section 3(2)  of ERISA (other than a Multiemployer Plan) subject to the provisions  of  Title  IV  of  ERISA  or Section 412 of the Code or Section 302 of ERISA, and in respect of which any Obligor or any

0010146-0000535 NYO1: 2000703970                                     .40

ERISA Affiliate is (or, if such plan were terminated, would under Section 4062 of ERISA be
deemed to be) an "employer" as defined in Section 3(5) of ERISA.

"Platform" has the meaning assigned in Section 10.01(d)(i).

"Preferred Stock" of any Person means Capital Stock of such Person of any class or classes (however designated) that ranks prior, as to the payment of dividends or as to the  distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such Person, to shares of Capital Stock of any other class of such Person.

"Pricing Grid" means the table shown immediately below setting forth the Applicable Margin applicable to the Facility based on Total Net Leverage Ratio set forth in each Compliance Certificate delivered pursuant to Section 5.01(c)(i) hereof:

									
	RATIO LEVEL
	TOTAL NET LEVERAGE RATIO
	APPLICABLE MARGIN

	Level I
	2 3.0x
	2.75%
	Level II
	< 3.0x and 2 2.5x
	2.50%
	Level III
	< 2.5x and 2 2.0x
	2.20%
	Level IV
	< 2.0x and 2 1.5x
	2.00%
	Level V
	< 1.5x
	1.75%

"Prime Rate" means the rate of interest per  annum publicly  announced  from time  to time by The Bank of Nova Scotia (or any replacement Administrative Agent)  as its  prime  rate in  effect at its office  located at Toronto, Canada (or the  principal office of  any such replacement Administrative Agent) (which is not necessarily the lowest rate charged to any customer); each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

"Pro-Rata Share" means, with respect to any Lender, the percentage of the total Credit Exposure and unused Commitments represented by such Lender's Credit Exposure and unused Commitments.
"Proceeding" means any claim, action, suit, inquiry, investigation, or other proceeding by
or before any Governmental Authority.

"Process Agent" has the meaning assigned to such term in Section 10.09(d). "Prohibited Payment" has the meaning assigned to such term in Section 3.13(e).
"Purchase Money Obligations" means any Debt incurred to finance or refinance the acquisition, leasing, construction or improvement of property (real or personal) or assets (including Capital Stock), and whether acquired through the  direct acquisition of  such property  or  assets or the acquisition of the Capital Stock of any Person owning such property or assets, or otherwise.
"Qualified   Acquisition"   means  an  acquisition    by   the   Borrower   or   any  Restricted
Subsidiary  of  any Person or  the  assets of  any Person with  an aggregate  cash purchase price  of at

0010146-0000535 NYO1: 2000703970                                     .41

least $500,000,000 which has been designated to the Administrative Agent and the Lenders by an
Authorized Officer of the Borrower as a "Qualified Acquisition."

"Qualified Receivables Transaction" means any transaction or series of transactions that may be entered into by the Borrower  or any Restricted Subsidiary pursuant  to which  such Person or its Subsidiaries may sell,  convey or otherwise  transfer to (i)  a Receivables  Entity  (in  the case of a transfer by such Person or any of its Subsidiaries) and (ii) any other Person (in the case of  a transfer by a Receivables Entity), or may grant a Lien  in,  any Receivables  (whether  now  existing or arising in the future) of such Person or any of its Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such Receivables, all  contracts  and  all guarantees or other obligations in respect of such accounts receivable, the proceeds of  such Receivables and other assets which are customarily transferred, or in respect of which Liens are customarily granted, in connection with asset securitization involving Receivables and any Interest Rate, Currency or Commodity Price Agreement entered into by such Person or any such Subsidiary in connection with such Receivables.
"Quarter Date" means each of March 31, June 30, September 30 and December 31.

"Rating Agency" means each of (i) Fitch, Moody's and S&P or (ii) if any of Fitch,  Moody's or S&P are not making ratings of the Debt publicly available, an internationally recognized rating agency or agencies, as the case may be, selected by the Borrower, which will be  substituted  for  any of Fitch, Moody's or S&P, as the case may be.

"Rating Category" means (i) with respect to Fitch, any of the following categories (any of which may include a "+" or "-"): AAA, AA, A, BBB, BB, B, CCC, CC, C, R, SD and D (or equivalent successor categories); (ii) with  respect to Moody's,  any of the following  categories (any of which may include a "1," "2" or "3"): Aaa, Aa, A, Baa, Ba, B, Caa, Ca, and C (or equivalent successor categories), and (iii) the equivalent of any such categories of Fitch or Moody's used by another Rating Agency, if applicable.
"Recast Regulation" has the  meaning  assigned  to such term  in  Section  3.16. "Receivable" means a right to receive payment arising from a sale or lease of goods or the
performance of services by a Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items of property that would be classified as an "account," "chattel paper," "payment  intangible"  or  "instrument" under the Uniform Commercial Code as in effect in the State of New York and any "supporting obligations" as so defined.
"Receivables Entity" means a wholly-owned Subsidiary of a Person (or another Person in which such Person or any Subsidiary of such Person makes an Investment or to which such Person or any Subsidiary of such Person transfers Receivables and related assets) which engages in no activities other than in connection with  the  financing  of  Receivables  and which  is  designated  by the board of directors or senior management of such Person as a Receivables Entity:
a.no  portion  of the  Debt or any other  obligations   (contingent  or otherwise)  of which:
i.is   guaranteed  by  such  Person  or  any  Subsidiary   of  such  Person (excluding

0010146-0000535 NYO1: 2000703970                                     .42

guarantees of obligations (other than the  principal of,  and  interest  on,  Debt) pursuant to Standard Securitization Undertakings); (ii) is recourse to  or  obligates such Person or any Subsidiary of such Person in any way other than pursuant to Standard Securitization Undertakings; or (iii) subjects any property or asset of such Person or any Subsidiary of such Person, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings except, in each such case, certain Permitted Liens;

b.with which neither such Person nor any Subsidiary of such Person has any material contract, agreement, arrangement or understanding (except in connection with a purchase money note or Qualified Receivables Transaction) other than on terms not materially less favorable  to such Person or  such Subsidiary than  those  that might  be obtained at the time from Persons that are not affiliates  of such  Person, other  than fees payable in the ordinary course of business in connection with servicing Receivables; and
c.to which neither such Person nor any Subsidiary of  such Person has any obligation to maintain or preserve such entity's financial condition or cause such entity  to achieve certain levels of operating results  (other than those  related to or  incidental to the relevant Qualified Receivables Transaction).
Any such designation by the board of directors or senior management of the Borrower shall be evidenced to the Administrative  Agent by promptly  filing   with the Administrative   Agent a certified copy of the resolution of the board of directors or senior management of the Borrower giving effect to such designation or an certificate from an Authorized  Officer  of the Borrower certifying that such designation complied with the foregoing conditions.

"Receivables Repurchase Obligation" means any obligation  of  a seller  of  Receivables  in a Qualified Receivables Transaction to repurchase Receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result  of any action taken by,  any failure  to take action  by or  any other  event relating  to the seller.
"Recipient" means (a) the  Administrative   Agent,  (b) any Lender and (c) any Issuing Bank,
as applicable.

"Redeemable Stock" of any Person means any Capital Stock of such Person that by its terms (or by the terms of any security into  which it is  convertible  or  for which it  is  exchangeable) or otherwise (including upon the occurrence of an event) matures or is required to be redeemed (pursuant to any sinking fund obligation or otherwise)  or  is  convertible  into  or exchangeable  for Debt or is redeemable at the option of the holder  thereof, in  whole  or in  part, at any time  prior  to  the Maturity Date.

"Register" has the meaning assigned to such term in Section 10.04(b)(iv).
"Related Business" means (i) any business, services or activities engaged in by  the Borrower or  any of its  Subsidiaries on the  date of execution  this  Agreement and (ii)  any business in which the Borrower or its Subsidiaries are engaged, directly or indirectly, that consists primarily

0010146-0000535 NYO1: 2000703970                                     .43

of, or are related to, operating, acquiring, developing or constructing any telecommunications services (including, without limitation, fixed and mobile telephony, broadband internet, network- related services, cable television, broadcast content, network-neutral services, electronic, transactional, financial and commercial services related to the provision of telephony or internet services) and related businesses.
"Related Parties" means, with respect to any specified Person,  such Person's  Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person's Affiliates.
"Release" means any depositing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, migrating, leaching, seeping,  dumping, placing, discarding, abandonment, or  disposing  into  or  through  the  environment  (including  abandonment  or  disposal of any barrel, container or other closed receptacle containing any Hazardous Materials).
"Repeating Representations" means the representations and warranties set forth  in Sections 3.01, 3.05(b) (provided that, the reference to the date set forth in Section 3.05(b) shall be deemed a reference to the date of the latest audited financial statements delivered hereunder  as of the date in which such Repeating Representation is deemed repeated), 3.08(d), 3.13 and 3.15.
"Required Lenders" means, at any time, Lenders having Credit Exposures and unused Commitments representing more than 50% of the sum of the total Credit Exposures and unused Commitments at such time; provided that, in the event any of the Lenders shall be a Defaulting Lender, then for so long as such Lender is a Defaulting Lender, "Required Lenders" means Lenders (excluding all Defaulting Lenders)  having Credit  Exposures  and  unused  Commitments representing more than 50% of the sum of the total Credit Exposures and unused Commitments of such Lenders (excluding all Defaulting Lenders) at such time.

"Resolution Authority" means an EEA Resolution Authority or, with respect to any UK
Financial Institution, a UK Resolution Authority.
"Restricted Cash" means the sum of (i) Restricted MFS Cash and, without duplication, (ii) amount of cash that would be stated as "restricted cash" on the consolidated statement of financial position of any Person, as of such date in accordance with IFRS.
"Restricted Group" means the Borrower and its Restricted Subsidiaries.

"Restricted MFS Cash" means, as of any date of determination, an amount equal to any cash paid in or deposited by or held on behalf of any customer or dealer of, or any other  third party  in relation to, one or more of the Borrower and its Restricted Subsidiaries, if any, engaged in the provision of mobile financial services and designated as "restricted cash" on the consolidated statement of financial position of such Person, together with any interest thereon.
"Restricted Subsidiary" means any Subsidiary of the Borrower other than an Unrestricted Subsidiary.
"Revolving Loan" means a Loan made pursuant to Section 2.01 and Section 2.03.

0010146-0000535 NYO1: 2000703970                                     .44

"S&P" means Standard & Poor's Rating Services, a Standard & Poor's Financial Services
LLC business, and any successor to its rating agency business.

"Sale/Leaseback Transaction" means an arrangement relating to property now owned or hereafter acquired whereby a Person or its Subsidiary transfers such property  to another  Person and such Person or such Subsidiary leases it from such other Person.
"Sanctioned Country" means a country, region or territory which is itself the  subject  or target of comprehensive, country-, region-, or territory-wide  Sanctions  Laws, including  as of  the date hereof Cuba, Iran, Syria, North Korea, and the Crimea region of Ukraine.
"Sanctions Laws” means any applicable economic or  financial sanctions  or  trade embargoes, imposed, administered, promulgated, or enforced from time to time by the U.S. government (including without limitation those administered by OFAC), the European Union, Her Majesty's Treasury, Canada, the United Nations Security  Council or other relevant sanctions authority.
"SEC" means the Securities and Exchange Commission of the United State of America. "Senior Secured Debt” means, as of any date of determination, any Debt of (a) the
Borrower that is secured by a security interest in any assets of the Borrower or any of its Restricted Subsidiaries and/or (b) any Restricted Subsidiary of  the Borrower, other than Debt  incurred pursuant to clauses (h), (i), (j), (k), (l) and (o) of the definition of "Permitted Debt".

"Significant Subsidiary" means, at the date of determination, any Restricted Subsidiary of the Borrower that (1) for the most recent Financial Year, accounted for more than 10% of Consolidated EBITDA or (2) as of the end of the most recent Financial Year, was the owner  of  more than 10% of Total Assets.
"Solvent" means, with respect to any Person on a particular date, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair saleable value of  such Person is  not  less than the amount that will be required to pay the probable  liability  of  such Person on  its  debts  as they become absolute and matured, (c) such Person is generally  paying  its  debts  as they become due (whether at maturity or otherwise) and (d) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a transaction, for which  such Person's  property would constitute an unreasonably small capital. The amount  of any contingent  liability  at any time shall be computed as the amount that, in light  of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.
"Specified Legal Expenses" means, to the extent not constituting an extraordinary, non- recurring or unusual loss, charge or expense, all attorneys' and experts' fees and expenses and all other costs, liabilities (including all damages, penalties, fines and indemnification and settlement payments) and expenses paid or  payable  in  connection  with  any threatened,  pending, completed or future claim, demand, action, suit, proceeding, inquiry or investigation (whether civil, criminal, administrative, governmental or investigative).

0010146-0000535 NYO1: 2000703970                                     .45

"Specified Subsidiary Sale" means the sale, transfer or other disposition of all  of  the Capital Stock, or all of the assets or properties  of, (a) any Person, the primary  purpose  of  which  is to own Tower Equipment located in any market in which the  Borrower or  its  Restricted Subsidiaries operate; (b) any Person which  operates the  Borrower's or  any Restricted Subsidiary of the Borrower's mobile financial services business; (c) MKC Brilliant Services GmbH; and (d) Africa Internet Holding GmbH.

"Standard Securitization Undertakings" means representations,  warranties,  covenants and indemnities entered into by a Person or any Subsidiary of such Person which are reasonably customary in a securitization of Receivables  transactions,  including,  without limitation,  those  relating to the servicing of the assets of a Receivables Entity, it being understood  that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking.

"Step-Up Option" has the meaning assigned to such term in Section 6.04(b).
"Subsidiary" of any Person means (i) a corporation more than 50% of the combined voting power of  the outstanding  Voting  Stock of  which  is  owned,  directly  or indirectly,  by such Person or by one or more other Subsidiaries of such Person or by such Person and one or more Subsidiaries thereof or (ii) any other Person (other than a corporation) in which such Person, or  one  or  more other Subsidiaries of such Person or such Person and one or more  other  Subsidiaries  thereof, directly or indirectly, has at least a majority ownership and power to direct the  policies,  management and affairs thereof.

“Swingline Borrowing" means a Borrowing of a Swingline Loan pursuant to Section 2.05.
"Swingline Exposure" means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time.

"Swingline Lender" means The Bank of Nova Scotia, in its capacity as lender of Swingline Loans hereunder. The Borrower, the Administrative Agent and any Lender may agree that such Lender may make Swingline Loans hereunder, in which case the term "Swingline Lender" shall include such Lender with respect to the Swingline  Loans made by such Lender, and each reference to "Swingline  Lender"  shall  mean the  applicable  Swingline  Lender or  all Swingline   Lenders, as the context may require, or any successor Swingline Lender hereunder.

“Swingline Loan" means a Loan made pursuant to Section 2.05.

"Taxes" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other similar charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
"Test Period" means, as of any date of determination, the most recent period of four consecutive Financial Quarters ended on or prior to such date (taken as one accounting period) in respect of which financial statements for each such Financial Quarter (or the Financial Year comprised by such Financial Quarters) have been delivered or are required to have been delivered pursuant to Section 5.01(a) or (b). A Test Period may be designated by reference to the last day thereof (i.e., the "December 31st Test Period" of a particular year refers to the period of four

0010146-0000535 NYO1: 2000703970                                     .46

consecutive Financial Quarters of the Borrower ended on December 31st of such year), and a Test Period shall be deemed to end on the last day thereof.

"Total Assets" means the consolidated total assets of the Borrower and its Restricted Subsidiaries as shown on the Borrower's most recent consolidated statement of financial position prepared on the basis of IFRS prior to the relevant date of determination  calculated  to give  pro forma effect to any acquisitions (including  through  mergers  or  consolidations)  and dispositions that have occurred subsequent to such period, including any such acquisitions to be made with the proceeds of Debt giving rise to the need to calculate Total Assets.

“Total Net Leverage Ratio" means, as of any date of determination, the ratio of (i) Consolidated Net Debt outstanding  as of  such date to (ii)  Consolidated  EBITDA as of the last day of the most recently ended Test Period, in each case determined on a pro  forma  basis  as if  any Debt incurred on such date of determination had been incurred, or any Debt repaid, redeemed or repurchased on such date of  determination had been repaid,  redeemed or  repurchased (as applicable), at the beginning of such Test Period; provided, however, that for purposes of the Debt Incurrence Test, the pro forma calculation of the Total Net Leverage Ratio shall not give effect to
(i)any Permitted Debt incurred on such determination date (other than Acquired Debt), or (ii) the discharge on such determination date of any Permitted Debt to the extent  that  such  discharge results from the proceeds incurred pursuant to any Permitted Debt (other  than  the  discharge  of Debt using proceeds of Acquired Debt). For the avoidance of doubt, in determining the Total Net Leverage Ratio, no cash or Cash Equivalents shall be included that are the proceeds of Debt in respect of which  the pro forma  calculation  is  to be made,  unless  such proceeds are committed  to be used for debt repayment or refinancing.
"Tower Equipment" means passive infrastructure related to telecommunications services, excluding telecommunications equipment,  but  including,  without  limitation,  towers  (including tower lights and lightning rods), power breakers, deep cycle  batteries,  generators,  voltage regulators, main AC power, rooftop masts, cable ladders, grounding, walls  and  fences,  access roads, shelters, air conditioners and BTS batteries owned by the Borrower or any of its Restricted Subsidiaries.

"Transactions" means the execution, delivery and performance by the Loan Parties of this Agreement and the other Loan Documents, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder.

"Type", when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is  determined  by reference to  the Adjusted LIBO Rate or the Alternate Base Rate.

"UK Financial Institution" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United  Kingdom Financial  Conduct  Authority,  which includes certain credit institutions and investment firms, and certain affiliates of such  credit institutions or investment firms.

0010146-0000535 NYO1: 2000703970                                     .47

"UK Resolution Authority" means the Bank of England or any other public administra tive
authority having responsibility for the resolution of any UK Financial Institution.
"Unreimbursed Amount" has the meaning assigned to such term in Section 2.06(e)(i). "Unrestricted Subsidiary" means any Subsidiary of the Borrower designated as such in
accordance with the terms of Section 6.10 of this Agreement.

"Unused Commitment Fee Rate" means, for any day, a rate per annum equal to thirty percent (30%) of the Applicable Margin with respect to Eurodollar Loans for such day.

"U.S. Person" means a "United States person" within the meaning  of  Section  7701(a)(30) of the Code.

"U.S.    Tax   Compliance   Certificate"   has  the   meaning    assigned to such term in
Section 2.17(f)(ii)(B)(3).

"VAT" means:
1.any tax imposed in compliance with the  Council  Directive  of 28  November  2006 on the common system of value added tax (EC Directive 2006/112), as amended; and

2.any other tax of a similar nature, whether imposed in a member state of   the European Union in substitution for, or levied in addition to, such tax referred to in  paragraph (a) above, or imposed elsewhere.
"Voting Stock" of any person means Capital Stock of such Person which ordinarily has  voting power for the election of directors (or persons performing similar functions) of such Person, whether at all times or only so long as no senior class of securities has such voting  power by reason of any contingency.
"Weighted Average Life-to-Maturity" means, when applied to any Debt or Preferred Stock at any date, the number of years obtained by dividing (a) the then outstanding principal amount  of such Debt or liquidation preference of such Preferred Stock, as the  case may be, into  (b) the total of the product obtained by multiplying (x) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal or upon mandatory  redemption, including payment at final maturity, in  respect thereof, by  (y)  the number  of  years (calculated  to the nearest one-twelfth) that will elapse between such date and the making of such payment.
"Withdrawal Liability" means  liability  to a Multiemployer Plan as a result  of  a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in  Part I of Subtitle E of Title IV of ERISA.

"Withholding Agent" means any Obligor and the Administrative Agent.
"Write-Down and Conversion Powers" means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down

0010146-0000535 NYO1: 2000703970                                     .48

and conversion powers are described in the EU Bail-In  Legislation Schedule,  and (b) with  respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liabilit y of any  UK  Financial Institution or any contract or instrument under which that liability  arises, to convert  all  or  part of that liability into shares, securities or obligations  of that person or any other person, to provide  that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the  powers  under   that  Bail-In  Legislation that are related to or ancillary to any of those powers.
Section 1.02 Classification of Loans and Borrowings. For purposes  of this  Agreement, Loans may be classified and referred to by Class (e.g., a "Revolving Loan" or a "Swingline Loan") or by Type (e.g., a "Eurodollar Loan" or an "ABR Loan") or by Class and Type (e.g., a "Eurodollar Revolving Loan"). Borrowings  also may be classified  and referred to by  Class  (e.g.,  a "Revolving Borrowing") or by Type (e.g., a "Eurodollar Borrowing") or by  Class and Type (e.g., a "Eurodollar Revolving Borrowing").

Section 1.03 Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context  may require,  any pronoun shall include the corresponding masculine, feminine and neuter forms. The words "include", "includes" and "including" shall be deemed to be followed by the phrase "without limitation". The word "will" shall be construed  to have  the  same meaning  and effect as the  word "shall".  Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or  other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person's successors and assigns, (c) the words "herein", "hereof" and "hereunder", and words of similar import,  shall  be construed  to refer to this Agreement in its entirety and not to any particular  provision  hereof, (d)  all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) the words "asset" and "property" shall be  construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights, (f) the  word "regulation" includes any regulation, rule, official directive, request or guideline (whether or  not having the force of law) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organization and (g) any reference to any law or regulation herein shall, unless specified, refer to such law or regulation as amended, modified or supplemented from time to time.
Section 1.04  Accounting  Terms; IFRS.  Except  as otherwise  expressly  provided  herein, all terms of an accounting or financial nature shall be construed in  accordance with,  and  all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, IFRS as in  effect from  time  to time, to the extent applicable to the relevant  terms, data, ratios and calculations.  If there is a change to IFRS that might result in any material alteration in the commercial  effect of any of  the terms of this Agreement (a "Material IFRS Change"), the Loan Parties shall notify the Administra tive Agent and, if the Administrative Agent so requests, deliver to the Administrative Agent sufficient information, in form and substance as may be reasonably required by the Administrative Agent,

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to enable the Lenders to determine whether the Financial Covenant  (if  applicable)  has  been complied with notwithstanding such Material IFRS Change. If the Loan Parties notify the Administrative Agent of a Material IFRS Change in accordance with this paragraph, then the Loan Parties and the Administrative Agent shall enter into negotiations in good faith with a view  to agreeing any amendments to this Agreement which may be necessary to ensure that the Material IFRS Change does not result in any material alteration in the commercial effect of the terms of this Agreement, and if any amendments are agreed they shall take effect and be binding on the Loan Parties and the Credit Parties in accordance with their terms.
Section 1.05 Rounding. Any financial ratios required to be satisfied in order for a specific action to be permitted under  this Agreement shall  be calculated by dividing the appropriate component by the other component, carrying the result to the same number of decimal places by which such ratio is  expressed herein  (the  "applicable decimal  place")  and rounding  the result  up or down to the applicable decimal place.
Section 1.06 Time of Day. Unless  otherwise  specified,  all references herein  to times  of  day shall be references to New York City time (daylight or standard, as applicable).

Section 1.07 Currency Equivalents. Except as otherwise specified herein, all references herein or in any other  Loan Document to a Dollar  amount  shall  mean such amount  in  Dollars  or, if the context so requires, any monetary amount in a currency other than Dollars, at any time of determination thereof, the amount  of Dollars  obtained  by translating  such other  currency involved in such computation into Dollars at the spot rate for the purchase  of  Dollars  with  the  applicable other currency as published in the Financial Times on the date that is  two (2) Business  Days prior to such determination.
Section 1.08  LIBOR Notification.  The  interest  rate on  Eurodollar   Loans  is   determined by reference to the Adjusted LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent  the  rate  at which  contributing banks may obtain short-term borrowings from each other in the London  interbank  market. In July  2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks  to make rate submissions to the  ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the "IBA") for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be  available  or  may  no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and  private  sector  industry  initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London  interbank  offered rate is  no longer  available or in certain other circumstances as set forth in Section 2.23 of this Agreement, such Section 2.23 provides a mechanism for  determining  an alternative  rate of  interest.  The  Administrative Agent will notify the Borrower, pursuant to Section 2.23, in advance of any change to the reference rate upon Loans bearing interest at the Adjusted  LIBO Rate. However, the Administrative  Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of "Adjusted LIBO Rate" or with respect to any alternative or successor rate thereto, or replacement rate therefor or thereof, including, without limitation, whether the

0010146-0000535 NYO1: 2000703970                                     .50

composition or characteristics of any such alternative,  successor or  replacement  reference rate, as it may or may not be adjusted pursuant to Section  2.23,  will  be similar  to,  or produce  the  same value or economic equivalence of, the  Adjusted  LIBO Rate or  have the  same volume  or liquid ity as did the London interbank offered rate prior to its discontinuance or unavailability.
Section 1.09    Cashless Roll. Notwithstanding  anything  to the  contrary  contained in this Agreement, any Lender may exchange, continue or rollover all or a portion of its Loans in connection with any refinancing,  extension,  loan  modification  or similar  transaction  permitted  by the terms of this Agreement, pursuant  to a cashless settlement mechanism  approved by  the Obligors, the Administrative Agent and such Lender, and any such exchange, continuation  or rollover shall be deemed to comply with any requirement hereunder or under any other Loan Document that any payment be made "in Dollars",  "in  immediately available  funds", "in  cash" or any other similar requirements.
Section 1.10    Luxembourg Terms. In the Loan Documents, a reference to (a) a liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrator receiver, administrator or similar officer includes (i) any juge-commissaire or insolvency receiver (curateur) appointed under the Luxembourg Commercial Code, (ii)  any  liquidateur appointed under Articles 1100-1 to 1100-15 (inclusive) of the Luxembourg Companies Act, (iii) any juge- commissaire or liquidateur appointed under Article 1200-1 of the Luxembourg Companies Act
(iv) any commissaire appointed under the Grand-Ducal decree of 24 May 1935 on the controlled management regime or under Articles 593 to 614 (inclusive) of the Luxembourg Commercial Code and (v) any juge délégué appointed under the Luxembourg act of 14 April 1886 on the composition to avoid bankruptcy, as amended; (b) a winding-up, administration or dissolution includes, without limitation, bankruptcy (faillite), liquidation, composition with creditors (concordat préventif de faillite), moratorium or reprieve from payment (sursis de paiement) and controlled management (gestion contrôlée); and (c) a Person being unable to pay its debts includes that Person being in a state of cessation of payments (cessation de paiements).
ARTICLE II THE CREDITS
Section 2.01     Commitments.   Subject  to  the  terms  and  conditions   set forth  herein, each
Lender agrees to make Revolving Loans to any Obligor from time  to time  on any Business  Day from its applicable Lending Office during the Availability Period in  an aggregate principal  amount that will  not  result  in  (i)  such Lender's Credit  Exposure  exceeding  such  Lender's Commitment or
(ii)the sum of the total Credit Exposures exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein,  the  Obligors  may  borrow,  prepay and re-borrow Revolving Loans.
Section 2.02 Loans and Borrowings.

(1)Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their  respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other

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Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and
no Lender shall be responsible for any other Lender's failure to make Loans as required.

1.Subject to Section 2.14, each Borrowing shall be  comprised  entirely   of ABR Loans or Eurodollar Loans (in each case, denominated in Dolars), as  the  Obligors  may request in accordance herewith. Each Swingline Loan shall be an ABR Loan unless otherwise  agreed in accordance with Section 2.13(a). Each Lender at its option may make any  Loan  by causing any domestic or foreign branch or Affiliate of such Lender to make  such Loan;  provided that (i) the making of such Loan by any domestic or  foreign  branch or Affiliate  of such  Lender  shall not increase the payments due from the Obligors under Section  2.15 or 2.17 (unless  approved by the Borrower); and (ii) any exercise of such option shall  not  affect the  obligation  of  the Borrower to repay such Loan in accordance with the terms of this Agreement.
2.At the commencement of  each Interest Period for any  Eurodollar Borrowing, such Borrowing  shall  be  in  an amount  that is  an integral  multiple  of $1,000,000 and not less than $10,000,000 or, if less, an amount that is equal to  the  entire  unused  balance  of  the total Commitments. At the time that each ABR Borrowing is made, such Borrowing shall be in an amount that is an integral multiple of $500,000  and  not  less  than  $1,000,000;  provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance  of  the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is an integral multiple of $100,000 and not less  than  $100,000.  Borrowings  of more  than one  Type  and Class may be outstanding at the same time; provided that, at no time shall there be more than 15 Loans outstanding.

3.Notwithstanding any other provision  of this  Agreement,  the Obligors  shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.
Section 2.03  Requests for  Borrowings.  To request a  Borrowing,  an Authorized   Officer of the applicable Obligor  shall  notify  the Administrative  Agent of such  request by electronic  mail or telephone (if promptly confirmed by written notice consistent  with such telephonic  notice)  (a) in the case of a Eurodollar Borrowing, not later than 1:00 p.m, New York  City  time,  three  (3) Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 9:00 a.m., New York City time, on  the  date of  the  proposed  Borrowing;  provided that any notice of a Swingline Borrowing shall be made in accordance with Section 2.05(b).  Each such telephonic or electronically mailed notification shall be irrevocable and shall be confirmed promptly by hand delivery, electronic mail or telecopy to the Administrative Agent of a written Borrowing Request in substantially the form of Exhibit D or such other form approved by the Administrative Agent (each, a "Borrowing Request") and signed by the applicable Obligor. Each such telephonic or electronically mailed notification and written  Borrowing  Request  shall  specify the following information in compliance with Section 2.02:
a.the aggregate amount of the requested Borrowing;

b.the date of such Borrowing, which shall be a Business Day;

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c.whether such Borrowing is to be an ABR Borrowing or a Eurodollar 
Borrowing;

d.in the case of a Eurodollar Borrowing, the initial Interest Period to

be applicable thereto, which shall be a period contemplated by the definition of the term
"Interest Period"; and
d.the  location    and number   of  the   applicable    Obligor's    account to
which  funds are to be disbursed,  which  shall comply  with  the requirements  of Section 2.07.

If no election as to the Type of a Borrowing  is  specified  in  the applicable  Borrowing  Request,  then
(x)  if  such Borrowing  Request  was delivered  not  later  than 1:00  p.m,  New York City  time, three
(3)Business Days before the date of the proposed Borrowing, the requested Borrowing shall be a Eurodollar Borrowing with an Interest Period of one month's duration, or (y) if such Borrowing Request was delivered after such time,  the  requested Borrowing  shall  be  an ABR Borrowing.  If no Interest Period is specified with respect to any requested Eurodollar Borrowing, the Borrower shall be deemed to have selected an Interest Period of one month's duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent  shall advise each Lender of the details thereof and of the amount of  such Lender's Loan to be made  as part of the requested Borrowing.
Section 2.04    Incremental Facilities.
(a)On one or more occasions at any time after the Closing Date, the  Obligors may by written notice to the Administrative Agent elect to request an increase to the existing Commitments (any such increase, the "Incremental Commitments" and the  loans  made thereunder, the "Incremental Loans") in an aggregate amount not to exceed $300,000,000. Each such notice shall specify the date (each, an "Increased Amount Date") on which the Obligors propose that such Incremental Commitments shall be effective, which shall be a date not less than ten (10) Business Days (or such shorter period as may  be  agreed by  the  Administrative  Agent) after the date on  which  such notice is delivered to the  Administrative Agent. Incremental Commitments may be provided by any existing Lender (it  being  understood   that  no  existing Lender shall have an obligation to make, or provide commitments with respect to, an Incremental Loan) or  by any other Person (each, an "Incremental Lender"); provided that any such Incremental Lender to whom any portion of such Incremental Commitment shall be allocated shall be subject to the approval of the Borrower, the Administrative Agent, the Issuing Banks and the Swingline Lender unless such Incremental Lender is an existing Lender (each of which approvals shall not be unreasonably withheld, conditioned or delayed). The terms and provisions of any Incremental Commitments shall be identical to the existing Commitments.
(b)The effectiveness of any Incremental Commitments and the availability  of any borrowings under any such Incremental Commitment shall be subject to the satisfaction of the following conditions precedent:
(i)immediately prior to and after giving pro forma effect to such Incremental Commitments and borrowings and the use of proceeds thereof, no Default or Event of Default shall exist;

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ii.the representations and warranties made or deemed made by the Obligors in Article III hereof shall be true and correct in all material respects  on  the Increased Amount Date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances specifically and expressly permitted under the Loan Documents;

iii.the Administrative Agent shall have received one  or   more Additional Credit Extension Amendments, providing for Incremental Commitments in the amount of such increase; and
iv.the Administrative Agent shall have received an opinion  of counsel  to the Loan Parties (in substantially the same form as delivered on the Closing Date which may at the option of the Borrower be delivered by  internal  counsel  of the  Loan Parties), and addressed to the Administrative Agent and the Lenders.
c.On each Increased Amount Date, subject to the satisfaction of the foregoing terms and conditions, (a) each of the Lenders shall assign to each of the Incremental Lenders, and each of the Incremental Lenders shall purchase from each of the existing Lenders, at the principal amount thereof (together with accrued interest), such interests in the  Revolving  Loans outstanding on such Increased Amount Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans will be  held by  existing  Lenders  and Incremental Lenders ratably in accordance with their Commitments after giving effect  to  the addition of  such Incremental Commitments to the Commitments, (b)  each  Incremental Commitment shall be deemed for all purposes  a Commitment  and each Loan made  thereunder  shall be deemed, for all purposes, a Loan and (c) each Incremental Lender shall become a Lender with respect to its Incremental Commitment and all matters relating thereto.
d.The Administrative Agent shall notify  the  Lenders  promptly  upon  receipt of notice of each Increased Amount Date and in respect thereof (y) the Incremental Commitments and the Incremental Lenders, and (z) in the case of each notice to any existing Lender, the respective interests in such Lender's Revolving Loans, in each case subject to the assignments contemplated by this Section.
e.Any upfront fees payable to the Incremental  Lenders shall  be  determined by the Borrower and the applicable Lenders.
f.The Incremental Commitments shall be effected pursuant to one or more Additional Credit Extension Amendments executed and delivered by the Obligors, the Incremental Lender and the Administrative Agent, and each of which shall be recorded in the Register. Each Additional Credit Extension Amendment may, without the consent of  any other  Lenders,  effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the   opinion  of   the   Administrative  Agent,  to  effect  the   provisions  of   this Section 2.04.

g.Upon each increase in the Commitments pursuant to this Section,

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i.each Lender immediately prior to such increase will automatically and without further act be deemed to have assigned to each Incremental Lender, and each such Incremental Lender will automatically and without further act be deemed to have assumed, a portion of such Lender's participations hereunder in  outstanding  Letters  of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and assumption of participations, the  percentage of  the  aggregate outstanding (1) participations hereunder in Letters of Credit and (2) participations hereunder in Swingline Loans held by each Lender will equal the percentage of the aggregate Commitments of all Lenders represented by such Lender's Commitments; and
ii.if, on the date of such increase, there are Revolving Loans then outstanding, the Borrower shall prepay such Revolving Loans (and pay any additional amounts required pursuant to Section 2.15 in connection therewith) with the proceeds of Revolving Loans from the Incremental Lender(s) to the extent necessary in order that, after giving effect to such prepayments and borrowings, all Revolving Loans will  be  held ratably by the Lenders (including the Incremental Lender(s)) in accordance with their respective Commitments after giving effect to the applicable Incremental Commitment(s).
The Administrative Agent, the Issuing Banks and the Lenders hereby agree that  the minimum borrowing,  pro rata borrowing  and pro rata payment  requirements  contained  elsewhere  in this Agreement shall not apply to the transactions effected pursuant to this Section 2.04(g).

h.Any upfront fees payable to the Incremental  Lenders shall  be  determined by the Borrower and the applicable Lenders.

Section 2.05    Swingline Loans.
(a)Subject to the terms  and conditions  set forth herein,  the  Swingline  Lender, in reliance on the agreements of the  Lenders set forth herein,  agrees to make  Swingline  Loans to any Obligor from time to time on any Business Day during the Availability Period, in an aggregate principal amount at any time  outstanding  that will  not  result in  (i)  the  aggregate principal  amount of outstanding Swingline Loans exceeding $100,000,000, (ii) the Credit Exposure of any Lender exceeding its Commitment or (iii) the sum of the total Credit Exposures  exceeding the total Commitments;  provided that the Swingline  Lender shall not be required  to make a Swingline  Loan to refinance an outstanding Swingline  Loan.  Within  the foregoing  limits and subject  to the  terms and conditions set forth herein, each Obligor may borrow, prepay and re-borrow Swingline Loans.
(b)To request a Swingline Loan, an Authorized Officer of the  Obligor  shall notify the Administrative Agent of such request by telephone (confirmed by electronic mail or telecopy) or electronic mail, not later than 1:00 p.m. New York City time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the  requested Swingline  Loan.  The Administrative Agent will promptly advise the Swingline Lender of any such notice received from such Obligor. The Swingline  Lender shall  make each Swingline  Loan available to such Obligor   by means of  a credit to the general deposit account of such Obligor with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section

0010146-0000535 NYO1: 2000703970                                     .55

2.06(e), by remittance to the applicable Issuing Bank) by 3:00 p.m., New York City time, on the requested date of such Swingline Loan.

(c)The Swingline Lender may by written notice given to the Administra tive Agent not later than 10:00 a.m., New York City time, on any Business Day require the Lenders to acquire participations on such Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which  Lenders  will  participate. Promptly upon receipt of such notice, the Administrative Agent will  give  notice  thereof to each Lender, specifying in such notice such Lender's Applicable Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely, unconditionally and  irrevocably  agrees,  upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender's Applicable Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation to acquire and fund participations in Swingline Loans pursuant to this  paragraph is  absolute,  unconditional  and irrevocable  shall  not  be  affected by any circumstance whatsoever, including the occurrence and continuance  of  a Default  or  an Event of Default or a reduction or termination of the  Commitments,  and that each such payment shall be made without any offset, abatement, withholding or  reduction  whatsoever. Each Lender shall comply with its obligation under this  paragraph by  wire  transfer of  immediately available funds, in the same manner as provided in Section 2.07  with respect to Revolving  Loans made  by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative  Agent shall  promptly  pay to the  Swingline  Lender  the  amounts so received by it from the Lenders. The Administrative Agent shall notify the Obligors of any participations in any Swingline  Loan acquired  pursuant  to this  paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and  not  to  the Swingline Lender. Any amounts received by the Swingline  Lender from  any Obligor  (or  other  party on behalf of any Obligor) in respect of a Swingline  Loan after receipt  by  the  Swingline Lender of the proceeds of a sale of participations therein shal be promptly remitted  to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Lenders that shall  have made their  payments  pursuant to this paragraph and to the Swingline Lender, as their  interests  may appear; provided that any  such payment  so remitted  shall  be repaid to the Swingline  Lender or to the Administrative  Agent,  as applicable, if and to the extent such payment is required to be refunded to such Obligor for any reason. The purchase of participations in a Swingline Loan pursuant to  this  paragraph shall  not relieve any Obligor of any default in the payment thereof.
(d)Any Swingline Lender may resign at any time by  giving  thirty  (30)  days' prior notice to the Administrative Agent, the Lenders and the Borrower. After the resignation of a Swingline Lender hereunder, the retiring Swingline Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swingline Lender under this Agreement and the other Loan Documents with respect to Swingline Loans made by  it  prior  to such resignation,  but shall not be required to make any additional Swingline Loans.

Section 2.06    Letters of Credit.
(a)General. Subject to the terms and conditions  set forth  herein,  an Obligor may request the issuance of Letters of Credit (or the amendment or extension of an outstanding Letter of Credit), denominated and payable in Dollars, as the applicant thereof for the support of

0010146-0000535 NYO1: 2000703970                                     .56

its or any Restricted Subsidiary's  obligations, by delivery  of a written  Letter of  Credit Request to the Administrative Agent and the applicable Issuing Bank, at any time and from time to time during the Availability Period at least three (3) Business Days before the requested date of issuance, amendment or  extension  (or such shorter period as the  applicable Issuing Bank and the Administrative Agent may agree), (i) requesting the issuance of  a Letter of  Credit,  or identifying the Letter of Credit to be amended or extended and (ii) specifying (A) the date of issuance, amendment or extension (which shall be a Business Day), (B) the date on which  such Letter of Credit is to expire (which shall comply with this Section 2.06), (C) the amount of  such Letter of Credit, (D) the name and address of the beneficiary thereof and (E) such other information as shall be necessary to prepare, amend or extend such Letter of Credit. If requested by the applicable Issuing Bank, such Obligor also shall submit a letter of credit application on such Issuing Bank's standard form in connection with any request for a Letter of Credit.  In the  event of any inconsistency between the terms and conditions  of  this  Agreement and  the terms  and  conditions of any such form of letter of credit application or other agreement submitted by an Obligor to, or entered into by an Obligor with, the applicable Issuing Bank relating to any Letter of  Credit,  the terms and conditions of this Agreement shall control.
(b)Letter of Credit Amounts. Unless otherwise  specified  herein,  the amount  of a Letter of Credit at any time  shall  be deemed to be the amount  of  such Letter of Credit  available to be drawn at such time; provided that with respect to any Letter of Credit that, by its terms or the terms of any Letter of Credit related thereto, provides for one or more automatic increases in the available amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum amount is available to be drawn at such time.

(c)Notice of Issuance, Amendment, Renewal, Extension;  Certain  Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal, reinstatement of amounts paid, or extension of an outstanding Letter of Credit), an Obligor shall hand deliver or telecopy (or transmit by electronic mail, if arrangements for doing so have been approved by  the  applicable Issuing Bank) to the applicable Issuing  Bank and the Administrative Agent (reasonably  in  advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three (3) Business Days or such shorter period as may be agreed by the Administrative  Agent and the Issuing  Bank)  a notice  requesting  the issuance  of a Letter of Credit, or identifying  the  Letter  of Credit to be amended, renewed, reinstated or extended, and specifying the date of issuance, amendment, renewal, reinstatement or extension (which shall be a Business  Day),  the  date  on which such Letter of Credit is to expire (which  shall  comply  with  paragraph (c) of  this  Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, reinstate, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank, such Obligor also shall submit a letter of credit application on the applicable Issuing Bank's standard form in connection with any request for  a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or  extended  only  if  (and upon issuance, amendment, renewal or extension of each Letter of Credit such Obligor shall be deemed to represent and warrant that),  after giving  effect to such issuance,  amendment,  renewal or extension (i) the LC Exposure shall not exceed $100,000,000, (ii) the Credit Exposure of  any Lender shall not exceed its Commitment (except as set forth in sub-section (v) below  with  respect to the applicable Issuing Bank), (iii) the sum of  the  total  Credit  Exposures  shall  not  exceed the total Commitments, (iv) the aggregate LC Exposure of any Issuing Bank shall not, without the

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consent of such Issuing Bank (acting in its sole discretion),  exceed its  LC Commitment; and  (v) each Issuing Bank's LC Exposure plus any other extensions of credit under the Facility by such  Issuing Bank shall not, without the consent of such Issuing Bank (acting in its sole discretion),  exceed the Commitment then held by such Issuing Bank. No Issuing Bank shall be under any obligation to issue any Letter of Credit if (1) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms  purport  to enjoin  or  restrain such Issuing  Bank from  issuing such Letter of Credit, or any law applicable to such Issuing  Bank or any directive  (whether or not having the force of law) from any Governmental Authority  with  jurisdiction  over  such Issuing Bank shall prohibit, or direct that such Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shal impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such  Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such Issuing Bank any unreimbursed loss,  cost or expense which  was not  applicable on the Closing Date (for which such Issuing Bank is not otherwise compensated hereunder) and which such Issuing Bank in good faith deems material to it, (2) any Lender is at that  time  a Defaulting Lender, if after giving effect to Section 2.20(a)(iii)(a), any Defaulting Lender's LC Exposure remains outstanding, unless such Issuing Bank has entered into  arrangements, including the delivery of cash collateral, reasonably satisfactory to such Issuing Bank (in its sole  discretion) with the Borrower or such Lender to eliminate such Issuing Bank's Defaulting  Lender's  LC Exposure arising from either the Letter of Credit then proposed to be issued or such Letter of Credit and all other LC Exposure as to which such Issuing Bank has Defaulting Lender LC Exposure or
(3)the issuance of such Letter of Credit would violate any policies of such Issuing Bank applicable
to letters of credit in general.

An Issuing Bank shall be under no obligation to amend any Letter of Credit if (A) such Issuing Bank would have no obligation at such time to issue the Letter  of  Credit  in  its  amended form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not accept the proposed amendment to the Letter of Credit.

(d)Applicability of ISP and UCP. Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower (i)  when a standby  Letter of Credit  is  issued,  the  rules of the "International Standby Practices 1998" published by the Institute of International  Banking  Law & Practice (or such later version thereof as may be in effect at the time of issuance)  (the "ISP") shall apply to such standby  Letter of  Credit  and (ii)  when a commercial  or  "trade" Letter of Credit is issued, the rules of the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce  Publication  No. 600  (or such later version  thereof as may be in effect at the time of issuance) (the "UCP") shall apply to such commercial or "trade" Letter of Credit. Notwithstanding the foregoing, no Issuing  Bank shall  be responsible  to the Borrower  for, and such Issuing Bank's rights and remedies against the Borrower shall not be impaired by,  any action or inaction of such Issuing Bank required  or permitted  under  any Law, order or practice that is required or permitted to be applied to any Letter of Credit  or this  Agreement, including  the Laws or any order of a jurisdiction where such Issuing Bank or the beneficiary is located, the  practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the International  Chamber of Commerce Banking Commission, the  Bankers Association for Finance and Trade (BAFT), or the Institute of International Banking Law &  Practice, whether or not any Letter of Credit chooses such laws or practice rules.

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(e)Expiration Date. Each Letter of Credit shall  expire (or be  subject  to termination by notice from the applicable Issuing Bank to the beneficiary thereof) at or prior to the close of business on  the earlier  of (i)  the date one year after the date of the issuance  of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension, which renewals or  extensions,  subject  to clause (ii)  hereof, may be automatic  pursuant  to the terms of such Letter of Credit so long as the applicable Issuing Bank shall have the right to prevent such renewal or extension at least once in each twelve  month  period)  and (ii)  the date that is five Business Days prior to the Maturity Date. Notwithstanding the foregoing,  a Letter of Credit may have an expiration date that is not more than twelve  (12)  months  after the Maturity  Date so long as (1)(x) the applicable Obligor shall provide cash collateral  to  the  Administrative Agent pursuant to and in accordance with Section 2.06(j) on or prior to forty-five (45) days before the Maturity Date in an amount equal to 102% of the LC Exposure with respect to all such Letters of Credit with expiry dates after the Maturity Date, or (y) absent such cash collateral referred to in sub-section (1)(x) above, such Letter of Credit is  fully  approved  by  the  applicable Issuing  Bank and all other Lenders; provided that, if the Lenders approve the issuance of such Letter of Credit without cash collateral as required under sub-section (1)(x) above, such cash collateral shall be required at the Maturity Date if such Letters of Credit remain outstanding at such date; (2) the obligations of the applicable Obligor under this  Section  2.06  in  respect of  such Letters of  Credit shall survive the Maturity Date and shall remain in effect until no such Letters of Credit remain outstanding and (3) each Lender shall remain obligated hereunder, to the extent any such cash collateral, the application thereof or reimbursement in respect thereof is required  to be  returned to the  applicable Obligor  by the Administrative   Agent after the  Maturity  Date until  no  such Letters of Credit remain outstanding.

(f)Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount or extending the expiration date thereof) and without any further action on the part of the applicable Issuing Bank or the Lenders, such Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender's Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the Administra tive Agent, for the account of such Issuing Bank, such Lender's Applicable Percentage of each LC Disbursement made by such Issuing Bank  and not  reimbursed  by the  applicable Obligor  on  the date due as provided in paragraph (e) of  this  Section,  or of  any reimbursement  payment  require d to be refunded to the applicable Obligor for  any reason. Each Lender acknowledges  and  agrees that its obligation to acquire  participations  pursuant  to this  paragraph in  respect of Letters of Credit is absolute, unconditional and irrevocable and shall  not be  affected by  any circumstance whatsoever, including any amendment, renewal, reinstatement  or extension  of any Letter of Credit or the occurrence and continuance of a Default or Event of Default  or  reduction  or termination  of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction  whatsoever. Each Lender further acknowledges  and agrees that its participation in each Letter of Credit will be automatically adjusted to reflect such Lender's Applicable Percentage of the aggregate amount available  to be drawn under  such Letter of  Credit at each time such Lender's Commitment is  amended pursuant  to the operation  of  Section  2.22,  as a result of  an assignment  in accordance with Section  10.04 or  otherwise  pursuant  to this Agreement.

0010146-0000535 NYO1: 2000703970                                     .59

(g)Reimbursement.
1.If any Issuing Bank  shall  make  any LC Disbursement  in  respect of a Letter of Credit, the applicable Obligor shall reimburse  such LC Disbursement  by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on (i) the Business Day that the Obligor receives notice of such LC Disbursement, if such notice is received prior to 10:00 a.m., New York City time or
2.the Business Day immediately following  the day that such Obligor  receives such notice, if such notice is not received prior to such time (the date so applicable, the "Honor Date"); provided that, if such Obligor fails to so reimburse such LC Disbursement by  the  Honor Date, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed LC Disbursement (the "Unreimbursed Amount") and the amount of such Lender's Applicable Percentage thereof. In  such event, such Obligor  shall be deemed to have requested an ABR Borrowing to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard for the minimum and multip les specified in Section 2.02(c)  but  subject  to the amount  of  the unutilized  Commitments  and the conditions set forth in Section 4.02 (other than the delivery  of  a Borrowing  Request). Any notice given pursuant to the proviso of this Section  2.06(e)(i) may  be  given  by telephone if immediately confirmed in writing (but  the  lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice).
a.Promptly following receipt of the notice set forth in the proviso of Section 2.06(e)(i) (and in any event, (i) if the  notice  is  received  prior  to 11:00  a.m.,  not later than 2:00 p.m. on the Business Day such notice is received or (ii) if  the  notice  is received after 11:00 a.m., on the immediately following Business Day), each Lender shall pay to the Administrative  Agent its  Applicable Percentage of  the  Unreimbursed  Amount, in Dollars, in the same manner as provided in Section 2.07 with respect to Revolving Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall  promptly pay  to  the applicable Issuing Bank the amounts so received by it from the  Lenders,  whereupon, subject to the provisions of section 2.06(e)(iii), each Lender that so makes funds available shall be deemed to have made an ABR Revolving Loan under the Commitments to such Obligor in such amount.

b.With respect to any Unreimbursed Amount that is not fully refinanced by an ABR Loan because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, then, promptly following  receipt of  the notice  set forth in the proviso of Section 2.06(e)(i),  each Lender shall  pay to  the  Administrative Agent,  for the account of the respective Issuing Bank, its Applicable Percentage of the Unreimbursed Amount, in Dollars, in the same manner as provided in Section 2.07  with  respect  to Revolving Loans made by such Lender (and Section 2.07 shall apply,  mutatis  mutandis,  to the payment  obligations  of the Lenders), and the Administrative Agent  shall  promptly  pay to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the applicable Obligor pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the  extent that Lenders have made  payments pursuant  to  this paragraph to reimburse the applicable Issuing Bank, then to such Lenders and the

0010146-0000535 NYO1: 2000703970                                     .60

applicable Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the  applicable Issuing Bank for any  LC Disbursement shall not constitute a Loan and shall  not relieve  any Obligor  of its  obligation to reimburse such LC Disbursement.
(h)Obligations Absolute. Each Obligor's obligation to reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this  Agreement under any and all circumstances whatsoever and irrespective  of (i)  any lack of validity  or enforceability  of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or  invalid  in  any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the applicable Issuing Bank under a Letter of Credit against presentation of a draft or other  document that does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar  to any of the  foregoing,  that might,  but for the  provisions   of  this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, such Obligor's obligations hereunder. Neither the Administrative Agent, the Lenders nor the applicable Issuing Bank,  nor  any of their  Related Parties, shall  have any liability  or responsibility  by  reason of or in connection with the issuance or transfer of any Letter of Credit by the respective  Issuing Bank or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss  or delay in transmission or delivery of any draft, notice or other  communication under  or  relating  to any Letter of Credit (including any document  required  to make  a drawing  thereunder),  any error in interpretation of technical terms, any error in translation or any consequence arising from causes beyond the control of the applicable Issuing Bank; provided that the foregoing  shall  not  be construed to excuse the applicable Issuing Bank from liability to any Obligor to the extent of any direct damages (as opposed to special, indirect, consequential  or punitive  damages,  claims  in respect of which are hereby waived by such Obligor to the extent permitted by applicable Law) suffered by such Obligor that are caused by the applicable Issuing Bank's failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly  agree that, in  the absence of  gross negligence or willful misconduct  on  the  part of the applicable Issuing  Bank (as finally  determined  by  a court of competent jurisdiction), the applicable Issuing Bank shall be deemed to have exercised care in each such determination. In furtherance of the foregoing and  without  limiting  the  generality thereof, the parties agree that, (i) with  respect to documents  presented which  appear on their  face to be in substantial compliance with the terms of a Letter of  Credit,  the  applicable Issuing  Bank may, in its sole discretion, either accept and make payment  upon such documents  without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit, (ii) an Issuing Bank may replace a purportedly lost, stolen, or destroyed original Letter of  Credit  or  missing amendment  thereto with  a replacement marked as such or waive a requirement for its presentation, (iii) this sentence shall establish the standard of care to be exercised by an Issuing Bank when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent permitted by applicable Law, any standard of care inconsistent with the foregoing).

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Without limiting the foregoing, none of the Administrative Agent, the Lenders, any Issuing Bank, or any of their Related Parties shall have any liability or responsibility by reason of (i) any presentation that includes forged or fraudulent documents or that is otherwise affected by the fraudulent, bad faith, or illegal conduct of the beneficiary or other Person, (ii) an Issuing Bank declining to take-up documents and make payment (A) against documents that  are fraudulent, forged, or for other reasons by which that it is entitled not to honor or (B) following a Borrower's waiver of discrepancies with respect to such documents or request for honor of such documents or
1.an Issuing Bank retaining proceeds of a Letter of Credit based on an apparently applicable attachment order, blocking regulation, or third-party claim notified to such Issuing Bank.

An Issuing Bank shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and such Issuing Bank shall have all of the benefits and immunities (A) provided to the  Administrative  Agent in  Article  VIII with  respect to any acts taken or omissions suffered by such Issuing Bank in connection with  Letters of  Credit issued by it or proposed to be issued by it pertaining to such Letters of Credit as fully as if the term "Administrative Agent" as used in Article VIII included such Issuing  Bank with  respect to  such acts or omissions, and (B) as additionally provided herein with respect to the such Issuing Bank.
(i)Disbursement Procedures. The applicable Issuing  Bank  shall,  within  the time allowed by applicable Laws or  the specific  terms of  the Letter of  Credit,  promptly  following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the  Administrative  Agent  and  the applicable Obligor in writing or by telephone (confirmed by  electronic  mail  or  telecopy)   or electronic mail of such demand for payment  and whether the Issuing  Bank has made or  will  make an LC Disbursement thereunder; provided that any failure to give or delay  in  giving  such notice shall not relieve  the  applicable Obligor  of its  obligation  to reimburse  the applicable  Issuing  Bank and the Lenders with respect to any such LC Disbursement.
(j)Interim Interest. If any Issuing Bank shall make any LC Disbursement, then, unless the applicable Obligor shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from  and including the date such LC Disbursement is made to but excluding the date that such Obligor reimburses such LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such Obligor fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest  accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the applicable Issuing Bank shall be for the account of such Lender to the extent of such payment.

(k)Replacement of the Issuing Bank. Any Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative  Agent, the  replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify  the  Lenders of  any such replacement of any Issuing Bank. At the time any such replacement shall  become  effective, the Obligors shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b)(ii). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights  and obligations of the  Issuing  Bank under  this  Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term

0010146-0000535 NYO1: 2000703970                                     .62

"Issuing Bank" shall be deemed to refer to such successor or to any previous Issuing Bank,  or to such successor and all previous Issuing Banks, as the  context  shall  require.  After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank  under  this  Agreement  with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

(l)Resignation of an Issuing Bank. Notwithstanding anything to the contrary contained herein, any Issuing Bank may, upon thirty (30) days' written notice to the Borrower and Lenders, resign as an Issuing Bank; provided that,  unless  such Issuing  Bank shall  have ceased to be a Lender, on or prior to the expiration of such 30-day period with  respect to such resignation, such Issuing Bank shall have identified a successor Issuing Bank acceptable to  the  Borrower (which acceptance shall not be unreasonably withheld, conditioned or delayed) willing (in its sole discretion) to accept its appointment as successor Issuing Bank (it being understood  that the Borrower and such successor Issuing Bank shall agree upon such Issuing Bank's LC Commitment, which amount shall not be less than that held by the  resigning Issuing  Bank,  unless  otherwise agreed to by the Borrower and such successor Issuing Bank). In the event of  any such resignation of an Issuing Bank, the Borrower shall  be  entitled  to appoint  from among  the  Lenders willing  (in its sole discretion) to accept such appointment, a successor Issuing  Bank hereunder;  provided  that no failure by the Borrower to appoint any such successor shall affect the resignation of the relevant Issuing Bank, as the case may be; provided, further, that, for the avoidance of doubt,  in  the  event that the Issuing Bank resigns as Issuing Bank and, as of the effective date of such resignation, no successor Issuing Bank is appointed in  accordance with  this  Section,  the  Borrower's appointment of a successor Issuing Bank thereafter shall not constitute the increase of a Commitment or the incurrence of an Incremental Loan. If an Issuing  Bank resigns  as an Issuing  Bank,  it  shall  retain all the rights and obligations of an Issuing Bank hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an Issuing Bank and all Obligations (solely with respect to such Issuing Bank's Commitment) with respect thereto  (including  the  right  to require the Lenders to make ABR Loans in the amount of  the  applicable LC  Disbursements pursuant to Section  2.04(f), or fund risk participations made by such Issuing Bank and not reimbursed).

(m)Cash Collateralization. If (A) any Event of Default shall occur and be continuing or following an acceleration of the Loans, on the Business  Day  that  any  Obligor receives notice from the Administrative Agent or  the  Required  Lenders (or, following an acceleration of the Loans, Lenders with LC Exposure representing  greater than 50%  of the  total  LC Exposure) demanding the deposit of cash collateral pursuant  to this  paragraph, or (B) require d by Section 2.06(c), such Obligor shall deposit in  an account  established  and maintained  on  the books and records of the Administrative Agent, in  the  name of  the  Administrative Agent  and for the benefit of the Lenders, an amount in cash equal to 102% of the LC  Exposure  as of  such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default  with respect to the Obligors described in Section 7.01(h) or (i). Such deposit shall be held by the Administrative Agent for the satisfaction of the LC Exposure and as collateral for the payment and performance of the Obligations. The Administrative Agent shall have  exclusive  dominion  and control, including the exclusive right of withdrawal, over such account. Other than any interest

0010146-0000535 NYO1: 2000703970                                     .63

earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative Agent  and at the Obligors'  risk  and expense,  such deposits  shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the applicable Issuing Bank for LC Disbursements for which it has not  been reimbursed,  together  with  related fees, costs, and customary processing charges, and, to the extent not  so applied, shall  be held  for the satisfaction of the reimbursement  obligations  of the Obligors  for the LC Exposure  at such time or, following an acceleration of the Loans (but subject to the consent of Lenders with LC Exposure representing greater than 50% of  the  total LC Exposure),  be applied to satisfy other  Obligations. If an Obligor is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to such Obligor within three  Business  Days after all  Events  of  Default have  been cured or waived.

(n)Letters of Credit Issued for account of Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the  account of, a Subsidiary, the Borrower shall be obligated to reimburse the applicable Issuing Bank hereunder for any and all drawings under  such Letter of Credit.  The  Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Borrower, and that the Borrower's business derives substantial benefits from the businesses of such Subsidiaries.
Section 2.07    Funding of Borrowings.
(a)Each Lender shall make each Loan to be made by it hereunder from its applicable Lending Office on the proposed date thereof by wire transfer of immediately available funds, in Dollars, by 12:00 noon (or, in the case of an ABR Loan requested for that same day, 2:00 p.m.), New York City time, to the  account of the  Administrative Agent most recently  designated by it for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.05. The Administrative Agent  will  make   such  Loans  available  to  the Obligors by  crediting  the  amounts  so  received,  in  like  funds,  by  wire  transfer  by  4:00  p.m. New York City time, to an account of the applicable  Obligor  designated  by the applicable  Obligor  in the applicable Borrowing Request; provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the applicable Issuing Bank.
(b)Each Lender may make any Loan through any Lending Office;  provided  that (i) the making of such Loan through such Lending Office shall not increase  the  amounts payable by the Obligors under Section 2.15 or 2.17 (unless approved by the Borrower) and (ii) the exercise of this option shall not affect the obligation of such Obligor to repay the  Loan  in  accordance with the terms of this Agreement.
(c)Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender's share of such Borrowing, the Administrative Agent  may assume that such Lender has made such share available on such date  in  accordance  with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the

0010146-0000535 NYO1: 2000703970                                     .64

applicable Obligor a corresponding principal amount. In such event,  if  a Lender  has not  in  fact made its share of the applicable Borrowing available to the Administrative Agent within five (5) Business Days from the date on which the Administrative Agent made available to the applicable Obligor the corresponding principal amount, then the applicable Lender and the applicable Obligor severally agree to pay to the Administrative Agent forthwith on demand such corresponding principal amount with interest thereon, for each day from and including the  date  such amount  is made available to the applicable Obligor to but excluding the date of payment to the Administra tive Agent, at (i) in the case of a payment to be made by such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of a payment to be  made  by  such Obligor, (x) the Adjusted LIBO Rate applicable  to the relevant Borrowing  in  case such Borrowing  is an Eurodollar Borrowing, or (y) the interest rate applicable to ABR  Loans  in  case  such Borrowing is an ABR Borrowing;  provided,  that the  obligation  of the  Obligors  to pay interest  on the corresponding principal amount  shall  only  apply  to the  extent  that the  Administrative Agent has not received the payment of interest thereon from the  relevant  Lender following  demand.  If both the Borrower and such Lender shall pay interest  to the Administrative Agent for  the same or an overlapping period,  the Administrative  Agent shall  promptly  remit  to the Borrower the amount of interest paid by the  Borrower for such period. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender's Loan included in such Borrowing. Any payment by an Obligor hereunder shall be without prejudice to any claim such Obligor may have against  a Lender  hereunder for failure  to fund or thereafter make such payment to the Administrative Agent.

Section 2.08    Interest Elections.

(a)Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in  the case of a Eurodollar  Borrowing,  shall have an initial  Interest Period as specified in such Borrowing Request (or as otherwise provided in Section 2.03). Thereafter, an Obligor  may elect to convert  such Borrowing  to a different  Type  or  to continue such Borrowing as a Borrowing of the same Type and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. An  Obligor  may  elect  different  options  with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a  separate Borrowing.  This  Section  shall  not apply to Swingline Borrowings, which may not be converted or continued.

(b)To make an election pursuant to this Section, an Authorized Officer of the applicable Obligor shall notify the Administrative Agent of such request by telephone or electronic mail (i) in the case of a conversion from or continuation of a Eurodollar Borrowing,  not  later than 1:00 p.m., New York City time, at least three (3) Business Days before the date of the proposed Borrowing, and (ii) in the case of a conversion to an ABR Borrowing, not  later  than 11:00  a.m., New York City time, on the date of the proposed Borrowing. Each such telephonic or electronically mailed Interest Election Request shall be irrevocable and, in the case of  a  telephonic  Interest Election Request, shall be confirmed promptly by hand delivery, electronic mail or telecopy to the Administrative Agent of a written Interest Election Request signed by such Obligor.

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(c)Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:

(i)the Borrowing to which  such Interest Election  Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

(ii)the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;
(iii)whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and

(iv)if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term "Interest Period".

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the applicable Obligor shall  be deemed to have  selected an Interest Period of one month's duration.
(d)Promptly following receipt of an Interest Election  Request,  the Administrative Agent shall advise each Lender of the  details  thereof and of  such Lender's portion of each resulting Borrowing.
(e)If an Obligor fails to deliver a timely  Interest Election  Request with  respect to a Eurodollar Borrowing prior to the end of the Interest Period applicable  thereto, then,  unless  such Borrowing is repaid as provided herein, at the end  of  such Interest Period  such Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision  hereof, if  an Event of Default has  occurred and is  continuing  and the  Administrative Agent,  at the  request of the Required Lenders, so notifies the applicable Obligor (provided that no such notice shall  be required following an Event of Default under Section 7.01(h) or (i)), then, so long as an Event of Default is continuing (i) no outstanding Borrowing under such Facility may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto.

Section 2.09    Termination and Reduction of Commitments.

(a)Unless previously terminated, the  Commitments shall terminate  on the
Maturity Date.

(b)The Borrower may at any time terminate, or from time to time reduce, the
Commitments; provided that the Obligors shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in  accordance with  Section  2.11, the sum of the Credit Exposures would exceed the total Commitments.

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(c)The Obligors shall  notify the Administrative Agent of any election to terminate or reduce the  Commitments under  paragraph (b) of this Section at least  three  (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice  delivered  by  an Obligor  pursuant  to this Section shall  be irrevocable; provided that a notice of termination of  the  Commitments delivered by the Obligors may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Obligors (by notice to the Administrative Agent on or prior to the specified  closing  date) if  such condition  is  not  satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments (except for a termination of the Commitment of (x) a Defaulting Lender or  (y) a Lender that is unable to make or maintain Eurodollar Loans, in each case, in  accordance with Section 2.19).

Section 2.10    Repayment of Loans; Evidence of Debt.

(a)Each Obligor hereby unconditionally promises to pay  (i) to  the Administrative Agent for the account of each Lender, the then unpaid principal amount of each Revolving Loan on the Maturity Date, and (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier  of the  Maturity  Date and the fifth  (5th)  Business  Day after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Obligors  shall  repay all  Swingline  Loans  then outstanding.  Each Lender shall  maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Obligors to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(b)The Administrative Agent shall maintain accounts in which it shall record
(i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or  interest due  and payable  or  to become  due and payable from the Obligors  to each Lender hereunder and (iii) the amount  of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender's share thereof.

(c)The entries made in the accounts maintained pursuant to paragraph (b) or
(c)of this Section shall be prima facie evidence absent manifest error of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administra tive Agent to maintain such accounts or any error therein shall not in  any manner affect the obligation  of the Obligors to repay the Loans in accordance with the terms of this Agreement.

Section 2.11    Prepayment of Loans; Evidence of Debt.
a.Each Obligor shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without premium or  penalty  (except as provided  in  Section 2.16), subject to prior notice in accordance with paragraph (b) of this Section.

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b.An Authorized Officer of the applicable Obligor shall notify  the Administrative Agent (and, in  the case of prepayment  of a Swingline  Loan, the Swingline  Lender) by telephone (confirmed by telecopy) or electronic mail of  any  prepayment  hereunder  (i)  in  the case of prepayment of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 1:00 p.m., New York City time, one Business Day before the date of prepayment or
(iii) in the case of prepayment  of a Swingline  Loan, not  later than 1:00  p.m., New York City  time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal  amount  of each Borrowing  or  portion thereof to be  prepaid;  provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section  2.09,  then  such notice  of  prepayment  may be  revoked if such notice of termination is revoked in  accordance  with  Section  2.09.  Promptly  following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each partial prepayment  of any Borrowing  shall  be  in an amount that would be permitted in the case of an advance of a Borrowing of the same Type and Class as provided in Section 2.02. Each prepayment of a Borrowing shall be applied ratably to the applicable Loans included in the prepaid Borrowing. Prepayments  shall   be  accompanied  by accrued interest to the extent required by Section 2.13.
c.Any Lender may request through the Administrative Agent that Loans  of any Class made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a Note, payable to such Lender or its registered assigns.
Section 2.12    Fees.
(a)From the Closing Date until the last day of the Availability  Period,  the Obligors agree to pay to the Administrative Agent, for the account of each Lender, an unused commitment fee for the period from and including the Closing Date to the  last  day  of  the Availability  Period,  computed  at the Unused Commitment Fee Rate on  the average daily  amount of the Available Commitment of such Lender during the period  for  which  payment  is  made,  payable quarterly in arrears on each the last Business Day of each of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the Closing Date; provided that any unused commitment fee accrued with respect to the Commitment of a Defaulting Lender during the period prior to the time  such Lender became a Defaulting Lender and unpaid at such time shall not  be  payable  by  the  Obligors so long as such Lender shall be a Defaulting Lender except to the extent that such unused commitment fee shall otherwise have been due  and payable  by  the  Obligors  prior  to  such time; and provided, further, that no unused commitment fee shall accrue on the Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. All unused  commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(b)The Obligors agree to  pay (i)  to the  Administrative  Agent for  the  account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurodollar Revolving Loans on the average daily amount of such  Lender's  LC  Exposure  (excluding  any portion thereof attributable to unreimbursed LC Disbursements) during the period from and

0010146-0000535 NYO1: 2000703970                                     .68

including    the  Closing    Date  to  but   excluding   the   later  of  the   date  on   which   such Lender's
Commitment   terminates  and the date on which such Lender  ceases to have any LC Exposure,  and
(ii)to each Issuing Bank a fronting fee at the rate of 0.125%  on the  average daily  amount  of  the LC Exposure (excluding any portion thereof attributable to  unreimbursed  LC  Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Commitments and the date on  which  there ceases to be  any LC Exposure,  as well as each Issuing Bank's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation  fees and fronting fees accrued through and including each Interest Payment Date shall be  payable  on  the third (3rd) Business Day following such last  day, commencing  on the first  such date to occur after the Closing Date; provided that all such fees shall  be payable on the date on  which  the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any  other  fees payable  to each Issuing  Bank pursuant  to this paragraph shall be payable within sixty (60) days after demand. All participation  fees and   fronting fees shall be computed on the basis of a year of 360 days and shall  be  payable  for  the  actual number of days elapsed (including the first day but excluding the last day).
(c)The Obligors agree to pay to the Administrative Agent, for its own account, fees payable in the  amounts  and at the  times  specified  in  the  Administrative Agent Fee Letter or as otherwise separately agreed upon between the Borrower and the Administrative Agent.

(d)All fees payable hereunder shall be paid on the dates due, in immediately available funds,  to the Administrative  Agent (or  to each Issuing  Bank, in  the case of fees payable to it) for distribution, in the case of unused commitment  fees  and  participation  fees,  to  the applicable Lenders. Fees paid shall not be refundable under any circumstances;  provided  that, excess unused commitment fee payments by any Obligor may be credited against accrued unused commitment fees payable by such Obligor, but  only  to the  extent and on the  terms and subject  to the conditions expressly provided for in the definitions of "Applicable Margin"  and "ESG-Based Pricing Ratchet".

Section 2.13    Interest.

(a)The Loans comprising each ABR Borrowing shall  bear interest at the Alternate Base Rate plus the  Applicable Margin. Swingline Loans shall bear  interest  at  the  Alternate Base Rate plus the Applicable Margin.

(b)The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus  the  Applicable Margin.

(c)Notwithstanding the foregoing, if  an Event of Default  under Section 7.01(a) or (b) has occurred and is continuing, all overdue Obligations (which shall include all Obligations following an acceleration of the  Loans pursuant  to Section  7.01, including an automatic acceleration) shall bear interest,  after as well  as before judgment, at a rate per annum  equal  to (i) in the case of overdue principal of any Loan, two percent (2.0%) plus  the rate otherwise applicable  to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount (including interest), two percent (2.0%) plus the rate otherwise applicable to ABR

0010146-0000535 NYO1: 2000703970                                     .69

Revolving Loans  as provided  in  paragraph (a) of  this  Section;  provided that no  interest pursuant to this paragraph (c) shall accrue or be payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.

a.Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end  of  the  Availability  Period),  accrued interest on the principal  amount  repaid or  prepaid  shall  be payable  on  the date of such repayment or prepayment and (iii) in the event of any conversion  of  any Eurodollar  Loan prior  to the  end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.
b.All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate  Base  Rate  and  Adjusted LIBO Rate shall be determined by  the  Administrative  Agent, and such determination  shall be conclusive absent manifest error.

Section 2.14    Alternate Rate of Interest. Subject to Section 2.23 hereof, if prior to the commencement of any Interest Period for a Eurodollar Borrowing:

(a)the Administrative Agent determines (which determination  shall  be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period; or
(b)the Administrative Agent is advised  by the Required  Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing under such Facility for such Interest Period;
then the Administrative Agent shall give  notice  thereof to the applicable  Obligor  and the  Lenders by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies such Obligor and the Lenders that the circumstances giving rise to such notice  no  longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing under such Facility to,  or continuation of any Borrowing  under such Facility  as, a Eurodollar  Borrowing  shall be ineffective, (ii) any Interest Election Request that requests the continuation of any Borrowing under such Facility as a Eurodollar Borrowing shall be deemed to be a request for conversion  of  such Borrowing to an ABR Borrowing (absent prepayment by the Obligors at the  end  of  the relevant Interest Period) and (iii) if any Borrowing Request requests a Eurodollar Borrowing under such Facility, such Borrowing shall be made as an ABR Borrowing.

Section 2.15    Increased Costs. (a) If any Change in Law shall:

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i.impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge, liquidity or similar requirement  against  assets  of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or any Issuing Bank;
ii.impose on any Lender or any Issuing Bank or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any Letter of Credit or participation therein; or

iii.subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of the definition of  Excluded  Taxes and (C) Connection Income Taxes) on  its loans, loan principal, letters of  credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto;
and the result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any  Eurodollar  Loan  (or  of maintaining its obligation to make any such Loan) or to increase the cost to such Lender,  such Issuing Bank or such other Recipient of participating in, issuing  or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender, such Issuing Bank or such  other Recipient hereunder (whether of principal, interest or otherwise), then upon  request  of  such  Lender, Issuing Bank, or other Recipient, the applicable Obligor will pay to such Lender,  such Issuing Bank or such other Recipient, as the case may  be, such additional amount  or amounts  as  will compensate such Lender, such Issuing Bank or such other Recipient, as the case may be, for such additional costs incurred or reduction suffered;  provided, that no  Obligor  shall  be obligated to pay any such compensation unless the  Lender or other Recipient  requesting  such compensation is also requesting compensation as a result of such Change in Law from other similarly situated customers under  agreements relating  to similar  credit  transactions  that include provisions  similar to this Section 2.15(a).

(b)If any Lender or any Issuing Bank determines that any Change in Law affecting such Lender or Issuing Bank or any Lending Office of such Lender or such Lender's or Issuing Bank's holding company, if any, regarding capital  or liquidity  requirements  has or  would have the effect of reducing the rate of return on such Lender's or such Issuing  Bank's capital or on the capital of such Lender's or such Issuing Bank's holding company,  if  any, as a consequence  of this Agreement, the Commitments of such Lender or the Loans  made  by,  or  participations  in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing  Bank, to a level below that which such Lender or such Issuing Bank or such Lender's or such Issuing Bank's holding company could have achieved but for such Change in Law (taking into consideration such Lender's or such Issuing Bank's policies and the policies of such Lender's or such Issuing Bank's holding company with respect to capital adequacy and liquidity), then from time to  time  the applicable Obligor will pay to such Lender or such Issuing Bank, as the  case may  be,  such additional amount or amounts as will compensate such Lender or such Issuing Bank for any such reduction suffered; provided, that no Obligor shall be obligated to pay any such compensation unless the Lender or other Recipient requesting  such  compensation  is  also  requesting compensation as a result of such Change in Law from other similarly situated customers under

0010146-0000535 NYO1: 2000703970                                     .71

agreements relating to similar credit transactions that include provisions similar to this  Section  2.15(b).

a.A certificate of a Lender or an Issuing Bank setting forth the amount or amounts necessary to compensate such Lender or such  Issuing  Bank  or its  holding  company,  as  the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered  to  the applicable Obligor and shall be conclusive absent manifest error. Such Obligor  shall  pay  such Lender or such Issuing Bank, as the case may be, the amount shown as due on any such certificate within sixty (60) days after receipt thereof.

b.Failure or delay on the part of any Lender or any Issuing Bank to demand compensation pursuant to the provisions of Sections 2.15, or 2.17 shall  not  constitute  a waiver  of such Lender's or such Issuing Bank's right to demand  such  compensation;  provided that  no Obligor shall be required to compensate a Lender or an Issuing Bank pursuant to the provisions of Sections 2.15 or 2.17 for any increased costs incurred or reductions suffered more  than 270  days prior to the date that such Lender or such Issuing Bank,  as the case may be, notifies such Obligor  of the event giving rise to such increased costs or reductions and of such Lender's or such Issuing Bank's intention to claim compensation therefor; provided further that, if the event giving  rise to such increased costs or reductions is retroactive,  then the  270-day  period  referred to above  shall be extended to include the period of retroactive effect thereof.

Section 2.16  Break Funding   Payments. In the  event of (a) the  payment  of any principal  of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay  any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and is revoked  in  accordance  therewith), or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by an Obligor pursuant  to Section  2.19,  then,  in any such event, such Obligor shall compensate each Lender for the loss, cost and  expense attributable to such event (excluding loss of profits).  In the case of  a Eurodollar Loan,  such loss, cost or expense to any Lender shall be deemed to be the amount determined by  such Lender to be the excess, if any, by which (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate, as applicable, that would have been applicable to such Loan, for the period from the  date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow,  convert  or continue, for the period that would have been the Interest Period for such Loan), exceeds (ii) the amount of interest which would accrue on  such principal  amount  for  such period  at  the  interest rate which such Lender would bid were it to bid, at the commencement of such period, for Dollar deposits of a comparable amount and period from other banks in the  eurodollar  market.  A  certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the applicable Obligor and shall be conclusive absent manifest error. The applicable Obligor shall pay such Lender the  amount  shown  as due  on  any such certificate within sixty (60) days after receipt thereof. Failure or delay on the  part  of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender's right to demand such compensation; provided that no Obligor shall be required  to compensate a Lender pursuant to this Section for any amount incurred more than sixty (60) days

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prior to the date that such Lender notifies such Obligor of such Lender's claim for compensation
therefor.

Section 2.17    Payments Free of Taxes.

(a)Any and all payments by or on account of any obligation of any Obligor  under any Loan Document shall be  made  without  deduction  or withholding for any Taxes, except as required by  applicable Law. If any applicable  Law (as determined  in  the  good  faith  discretion of an applicable Withholding Agent) requires the deduction  or  withholding  of any Tax from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall  timely  pay the full  amount  deducted or withheld  to the relevant Governmental Authority in accordance with applicable Law and, if such Tax is an Indemnified Tax,  then the  sum payable  by the applicable Obligor  shall  be increased as necessary so that after such deduction or withholding has been made  (including such deductions  and withholdings applicable to additional sums payable under  this  Section   2.17)  the   applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

(b)Payment of Other Taxes by the Obligors. The Obligors  shall  timely  pay to the relevant Governmental Authority in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.

(c)Evidence of Payments. Within thirty (30) days after the date of any payment of Taxes by any Obligor to a Governmental Authority pursuant  to this  Section  2.17  (or, if  receipts or evidence are not available within 30 days, as soon as practicable thereafter), such Obligor shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.

(d)Indemnification. The applicable Obligor shall indemnify  each Recipient, within sixty (60) days after written demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section 2.17) payable or paid by such Recipient and any documented and  reasonable  expenses arising therefrom or with  respect thereto, or  required  to be withheld or  deducted from a payment to such Recipient, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental  Authority.  Any Recipient  claiming  indemnity  pursuant  to this Section  2.17(d)  shall  notify  the Obligors  of the imposition of the  relevant  Indemnified  Taxes as soon as reasonably practicable after the Recipient becomes aware of such imposition.  The Obligors shall not be required to  compensate  any Recipient  pursuant  to  this  Section  2.17(d)  for any interest, additions to tax or penalties that accrue more than 270 days prior to the date that such Recipient  notifies such Obligor  of  the imposition  of the relevant  Indemnified   Taxes. A certificate as to the amount  of such payment  or liability  delivered  to the applicable  Obligor  by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its  own behalf  or on  behalf of a Lender, shall be conclusive absent manifest error.

(e)Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within sixty (60) days after demand therefor, for (i) any Indemnified Taxes

0010146-0000535 NYO1: 2000703970                                     .73

attributable to such Lender (but only to the extent that any Obligor has not already indemnified the Administrative Agent for such Indemnified Taxes and  without  limiting  the  obligation  of  the Obligors to do so), (ii) any Taxes attributable to  such  Lender's  failure  to  comply  with  the provisions of Section 10.04(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by  the Administrative Agent in connection with any Loan Document, and  any  documented   and reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed  or  asserted by the  relevant  Governmental  Authority.  A certificate  as to the amount of such payment or liability delivered  to any  Lender  by the  Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes  the Administrative  Agent to set off and apply any and all amounts at any time owing to such Lender under any  Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph (e).
a.Status of Lenders. (i)  Any Recipient  that  is  entitled  to an exemption  from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Obligors and the Administrative  Agent, at the time  or times  reasonably  requested by the Obligors or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Obligors or the Administrative  Agent as will  permit  such payments  to be made without withholding or at a reduced rate of withholding. In addition, any Recipient, if reasonably requested by the  Obligors or the  Administrative Agent, shall deliver such other documentation prescribed by applicable Law or reasonably requested by the Obligors or the Administrative Agent as will enable the Obligors or   the  Administrative  Agent  to  determine whether or not such Recipient  is subject  to backup withholding or  information reporting requirements. Notwithstanding anything to the  contrary in the preceding  two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Section 2.17(f)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Recipient's reasonable judgment such completion,  execution  or  submission would  subject  such Recipient  to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Recipient.
(ii)Without limiting the generality of  the  foregoing,  in  the  event  that any Obligor is a U.S. Person:

(1)any Recipient that is a U.S. Person shall deliver to such Obligor and the Administrative Agent on or prior to the date on  which   such Recipient becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of such Obligor or the Administrative Agent), executed originals or certified copies of IRS Form W-9 certifying that  such  Recipient  is exempt from U.S. federal backup withholding tax;

(2)any Foreign Lender shall, to  the  extent it  is  legally  entitled to do so, deliver to such Obligor and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of  such Obligor or  the  Administrative Agent), whichever of the following is applicable:

0010146-0000535 NYO1: 2000703970                                     .74

a.in the case of a Foreign  Lender claiming  the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals or certified copies of  IRS Form W-8BEN or IRS Form  W-8BEN-E establishing an exemption from, or reduction of,  U.S. federal withhold ing Tax pursuant to the "interest" article of such tax treaty and  (y) with  respect to any other applicable payments under any Loan Document, IRS Form W- 8BEN or  IRS Form W-8BEN-E establishing an exemption from,  or reduction of, U.S. federal withholding Tax pursuant  to  the   "business profits" or "other income" article of such tax treaty;

b.executed originals or certified copies of IRS Form W-8ECI claiming that specified payments (as applicable) hereunder or any other Loan Documents (as applicable) constitute income that is effectively connected with such Foreign Lender's conduct of a trade or business in the United States or IRS Form W-8EXP;

c.in the case of a Foreign  Lender claiming  the benefits of the exemption for portfolio  interest under  Section  881(c) of the  Code,  (x) a certificate substantially in the form of Exhibit C-1 to the effect that such Foreign Lender is not a "bank"  within  the  meaning  of Section  881(c)(3)(A) of the Code, a "10 percent shareholder" of such Obligor  within  the meaning of Section 881(c)(3)(B) of the Code, or a "controlled foreign corporation" described in Section 881(c)(3)(C) of the Code (a "U.S. Tax Compliance Certificate") and (y) executed originals or certified copies of IRS Form W- 8BEN or IRS Form W-8BEN-E; or
d.to the extent a Foreign Lender is not the beneficial owner, executed originals or certified copies of  IRS Form  W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W- 8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit C-2 or Exhibit C-3, IRS Form W-9, and/or  other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or  more  direct  or  indirect  partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide  a  U.S.  Tax  Compliance Certificate substantially in the form of Exhibit C-4 on behalf of each such direct and indirect partner;

1.any Foreign Lender shall, to the  extent it  is  legally  entitled  to do so, deliver to such Obligor and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of such Obligor or the Administrative Agent), executed originals or certified copies of any other form prescribed  by  applicable Law as a basis for claiming exemption from or a reduction in U.S. Federal withholding Tax, duly completed, together with such supplementary  documentation as may be

0010146-0000535 NYO1: 2000703970                                     .75

prescribed by  applicable Law to permit  such Obligor  or  the Administrative  Agent to determine the withholding or deduction required to be made; and

1.if a payment made to a Recipient under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Recipient were to fail to comply with the applicable reporting requirements  of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Recipient shall deliver to such Obligor and the Administra tive  Agent at the time or times prescribed by law and at such time or times reasonably requested by such Obligor or the  Administrative Agent such documentation prescribed by applicable Law (including as prescribed by Section  1471(b)(3)(C)(i)  of the Code) and such additional documentation reasonably requested by  such Obligor or the Administrative Agent as may be necessary for such Obligor and the Administrative Agent to comply with their obligations under FATCA and  to determine that such Recipient has complied with such Recipient's obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), "FATCA" shall  include  any  amendments made to FATCA after the date of this Agreement.
Each Recipient agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Loan Parties and the Administrative Agent in writing of its legal inability to do so. Notwithstanding any other provision of this paragraph (f), a Recipient  shall  not  be  required  to deliver any form that such Recipient is not legally eligible to deliver.
a.Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes (for this purpose, including any credit against, relief or remission for, or repayment  of  any Tax (a "Tax Credit"), in  each case, in lieu of a refund)  as to which  it  has been indemnified pursuant  to this  Section  2.17  (including  by the payment of additional amounts pursuant to this Section 2.17), it shall pay to the indemnify ing party an amount equal to such refund (but (x) only to the extent of indemnity payments made under this Section 2.17 with respect to the Taxes giving rise to such refund or Tax Credit and (y), with respect to any Tax Credit, only to the extent such party has obtained,  utilized  and  retained  such Tax Credit), net of all out-of-pocket expenses (including Taxes) of such indemnified party  and without interest (other  than any interest paid by the relevant Governmental  Authority  with  respect  to such refund). Such indemnifying party, upon  the request of such indemnified  party,  shall  repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such  Governmental  Authority.  Notwithstanding anything to the contrary in this paragraph  (g) in  no  event will  the  indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net after-Tax position  than the indemnified party would have been in if  the Tax subject  to indemnification  and giving  rise to such refund had not been deducted, withheld or otherwise  imposed and the indemnificat ion payments or additional amounts with respect to such Tax had  never  been paid.  This  paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any

0010146-0000535 NYO1: 2000703970                                     .76

other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

a.VAT. All amounts set out in, or expressed to be payable under, a Loan Document by any party to a Credit Party which (in  whole  or  in  part) constitute  the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is  chargeable  on that supply, and accordingly, subject to the second paragraph of this Section 2.17(h), if VAT is chargeable on any supply made by any Credit Party to any party under a Loan Document and such Credit Party is required to account to the relevant tax authority for  the  VAT, such  Credit  Party shall promptly provide an appropriate VAT invoice to such  party  and,  provided  that  such  an invoice has been provided, that party shall pay to such Credit Party (in addition to and at the same time as paying any other consideration for such supply) or, according with the Council Directive 2006/112/EC as amended, an amount equal to the amount of the VAT or, where applicable, directly account for such VAT at the appropriate rate under the reverse charge procedure provided for by Article 196 of Council Directive 2006/112/EC, as amended and implemented by  any  relevant member state of the European Union.
If VAT is or becomes chargeable on any supply  made  by any Credit  Party (the  Supplier) to any other Credit Party (the Recipient) under a Loan Document, and any party other than the Recipient (the Relevant Party) is required by the terms of any Loan Document to pay an amount equal to the consideration for  that supply to the  Supplier  (rather than being  required  to reimburse or indemnify the Recipient in respect of that consideration):
b.(where the Supplier is the  person required  to account to the relevant  tax authority for the VAT) the Relevant Party shall also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient shall (where this paragraph (i) applies) promptly pay to the Relevant Party an amount equal to any credit  or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and.

2.(where the Recipient is the person required to account to the relevant  tax authority for the VAT) the Relevant Party shall promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that VAT.

Where a Loan Document requires any party to reimburse or indemnify a Credit  Party for  any costs or expenses, that party shall also at the same time reimburse or indemnify  (as the  case  may be) the Credit Party against all VAT incurred by the Credit Party in respect of such costs or expenses but only to the extent that the Credit Party (reasonably)  determines  that it  is  not entitled  to credit or repayment from the relevant tax authority in respect of the VAT.
Any reference in this  clause (h) to any party shall, at any time  when that party is  treated as a member of a group or unity (or fiscal unity) for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the person who is treated at  that  time  as making the supply,  or (as appropriate)  receiving  the supply,  under  the grouping  rules (provided  for in Article 11 of Council Directive 2006/112/EC as amended (or as implemented by any relevant

0010146-0000535 NYO1: 2000703970                                     .77

member state of the European Union)) so that a reference to a party shall be construed as a  reference to that party or the relevant group or unity (or fiscal unity) of which  that party  is  a  member for VAT purposes  at the relevant time or the relevant representative member (or representative or head) of that group or unity at the relevant time (as the case may be).
In relation to any supply made by a Credit Party to any party under a Loan Document, if reasonably requested by such Credit Party, that party shall  promptly  provide  such Credit  Party  with details of that party's VAT registration  and such other information as is  reasonably  requested in connection with such Credit Party's VAT reporting requirements in relation to such supply.
a.Survival. Each party's obligations under this Section 2.17 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.
a.Defined Terms. For purposes  of this Section 2.17, the  term "Lender"
includes any Issuing Bank and the term "applicable law" includes FATCA.
Section 2.18    Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

(a)Each Obligor shall make each payment required to be made by it hereunder prior to 3:00 p.m., New York City time (or such later time  as the Administrative Agent may agree), on the date when due, in immediately available funds, without  set  off  or  counterclaim.   Any amounts received after such time on any date may,  in  the  discretion  of the  Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent  at the  Payment Office, except payments to be made directly to any Issuing Bank or Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17 and 10.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on  a day that is  not a  Business Day, the date for payment shall be extended to the next succeeding  Business  Day, and, in  the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in  Dollars.  Each payment  (including  each prepayment)  by an Obligor on account of principal of and interest on the Revolving Loans shall be made pro rata according to the respective Applicable Percentages of the Lenders.

(b)If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of  principal,  unreimbursed  LC  Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of  interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among  the  parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties.

0010146-0000535 NYO1: 2000703970                                     .78

a.If any Lender shall, by exercising any right of set off or counterclaim or otherwise, obtain payment  in respect of any principal of or interest on any of its Loans or participations in LC Disbursements or  Swingline Loans  resulting  in  such  Lender  receiving payment of a greater proportion of the aggregate amount of its Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion  received by any other Lender, then the Lender receiving such greater proportion shall  purchase (for  cash at face value) participations in the Loans and participations  in  LC  Disbursements  and  Swingline Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and participations in LC Disbursements and Swingline Loans; provided that (i) if any such participations are purchased and all or any portion of  the  payment giving rise thereto is recovered, such participations shall be rescinded and the  purchase  price restored to the extent of  such recovery, without  interest,  and  (ii)  the   provisions  of   this paragraph shall not be construed to apply to any payment made by an Obligor pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment  of or  sale  of a participation  in  any of  its  Loans  or participations in LC Disbursements to any assignee or participant, other than to an Obligor or any Subsidiary or Affiliate thereof (as to which  the provisions  of this  paragraph shall  apply).  Each Obligor  consents to the foregoing and agrees, to the extent it may effectively do so under applicable Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Obligor rights of set-off and counterclaim with respect to such participation  as fully  as if  such Lender were a direct creditor of such Obligor in the amount of such participation.

b.Unless the Administrative Agent shall  have received notice from the applicable Obligor prior to the date on which  any payment  is  due to the Administrative  Agent for  the account of the Lenders or the Issuing Banks hereunder that such Obligor will not make such payment, the Administrative Agent may assume that such Obligor has made such payment on such date in accordance herewith and may, in  reliance  upon  such assumption,  distribute to the Lenders or the Issuing Banks, as the case may be, the amount due. In such event, if such Obligor has not in fact made such payment, then each of the Lenders or each of the Issuing  Banks, as the  case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon,  for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administra tive Agent, at the greater of  the  Federal Funds Effective Rate and a rate determined  by  the Administrative Agent in accordance with banking industry rules on interbank compensation.
c.If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.05(c), Section 2.06(d), Section 2.06(e), Section 2.07(b), Section 2.18(d) or Section 10.03(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts  thereafter received by  the  Administrative  Agent for the account of such Lender to satisfy such Lender's obligations under  such Sections  until  all such unsatisfied obligations are fully paid, and/or  (ii)  hold  such amounts  in  a segregated account over which the Administrative Agent shall have exclusive control as cash collateral for, and application to, any future  funding  obligations  of such Lender under  any such Section,  in  the  case of each of clause (i) and (ii) above, in any order as determined by the Administrative Agent in its discretion.

0010146-0000535 NYO1: 2000703970                                     .79

Section 2.19    Mitigation Obligations; Replacement of Lenders.
(a)If any Lender requests compensation under Section 2.15, or if an Obligor is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or  booking  its  Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or  affiliates, if, in  the judgment  of  such Lender,  such designation  or  assignment  (i)  would  eliminate or reduce amounts payable pursuant to Sections 2.15 or 2.17, as the case may be, in the future and
a.would not subject such Lender to any unreimbursed  cost or  expense and would  not  otherwise be disadvantageous to such Lender. Each Obligor hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

(b)If (i) any Lender requests compensation under Section 2.15, or (ii) if an Obligor is required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or  (iii) if  any Lender becomes Defaulting Lender, or (iv) any Lender has refused to consent to any proposed amendment, modification, waiver, termination or consent with respect to any provision of this Agreement or any other Loan Document that, pursuant to Section  10.02,  requires  the  consent  of all Lenders or each Lender affected thereby and with respect to which Lenders constituting the Required Lenders have consented to such proposed amendment,  modification, waiver, termination or consent, or (v) any Lender constitutes a Non-Extending Lender, or (vi) any Lender delivers a notification pursuant  to Section  2.24  regarding  its  ability  to make  or  maintain  Eurodollar  Loans, or (vii) any other circumstance exists hereunder that gives any Obligor the right  to replace a Lender as a party hereto, then such Obligor may (A) in the case of a Defaulting Lender or a Lender that is unable to make or maintain Eurodollar Loans, terminate the relevant Lender's Commitment and
A.in the case of any such Lender (including any Defaulting Lender or a Lender that is unable to
make or maintain Eurodollar Loans), upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in  accordance with  and subject  to the restrictions contained in, and consents required by, Section 10.04), all its interests, rights (other than its existing rights to payments pursuant to Sections 2.15 or 2.17) and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (1) such Obligor shall  have  received the prior written consent of the Administrative Agent, the Issuing Banks and the Swingline Lender, which consent shall not be  unreasonably  withheld,  conditioned or delayed (unless  such assignment is to an existing Lender or an Affiliate of an existing Lender), (2) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Obligors (in the  case of  all other amounts;  provided,  that, in  the  case of any Defaulting Lender, the Obligors shall be entitled to offset any expenses resulting from such Lender having been a Defaulting Lender and such assignment from any amounts payable by the Obligors to the Defaulting Lender hereunder), (3) in the  case of  any such assignment  resulting  from a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments, and
3.in the case of any such assignment resulting from a Lender's refusal to consent to a proposed
amendment, modification, waiver, termination or consent, the assignee shall approve the proposed

0010146-0000535 NYO1: 2000703970                                     .80

amendment, modification, waiver, termination or consent. A Lender shall not be required  to make  any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the applicable Obligor to require such assignment  and delegation cease to apply. Notwithstanding anything in this Section  to the contrary, (I) any Lender that acts as an Issuing Bank may not be replaced hereunder at any time it has any Letter of Credit outstanding hereunder unless  arrangements  satisfactory  to such Lender (including the furnishing of a backstop standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory to such Issuing Bank or the depositing of cash collateral  into  a cash collateral  account in amounts and pursuant to arrangements reasonably satisfactory to such Issuing Bank) have been made with respect to such outstanding Letter of Credit and (II) the Lender that acts as the Administrative Agent may not be replaced in its  capacity  as Administrative  Agent  hereunder except in accordance with the terms of Article VIII.
Section 2.20    Defaulting Lenders.

i.Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender:
a.no Defaulting Lender shall  be  entitled to receive any unused commitment fee pursuant to Section 2.12(a) for any period during which that Lender is a Defaulting Lender (and the Obligors shall not be required  to pay at any time  any such fee that otherwise would have been required to have been paid during such period to that Defaulting Lender);
b.the Commitments and Credit Exposure of such Defaulting Lender shall not be included in determining whether the Required Lenders have taken or may take any action hereunder (including any consent to any amendment,  waiver or  other modification pursuant to Section 10.02);
c.if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a Defaulting Lender then:

1.all or any part of the  Swingline  Exposure  and LC Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting  Lenders that are Lenders in accordance with their  Applicable Percentages  (calculated without regard to such Defaulting Lender's Commitment)  but  only  to  the  extent that the sum of all such non-Defaulting Lenders' Credit  Exposures  plus such Defaulting Lender's Swingline Exposure and  LC  Exposure  does  not  exceed  the total of all non-Defaulting Lenders' Commitments; provided that no reallocation hereunder shall constitute a waiver or release of any claim of any party  hereto against a Defaulting Lender arising from that Lender having been a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non- Defaulting Lender's increased exposure following such reallocation;

2.if the reallocation described in clause (A) above  cannot,  or can only partially, be effected, the  Obligors shall  within one Business Day

0010146-0000535 NYO1: 2000703970                                     .81

following notice by the Administrative Agent, without prejudice to any right  or  remedy available to them hereunder or under law, (x) first, prepay such Swingline Exposure and (y) second, cash collateralize for the benefit of the Issuing Banks only the Obligors' obligations corresponding to such Defaulting Lender's LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(j) for so long as such LC Exposure is outstanding;

1.if an Obligor cash collateralizes any portion of  such Defaulting Lender's LC Exposure pursuant to clause (B) above, such Obligor  shall not be required to pay any fees to such Defaulting Lender pursuant to  Section 2.12(c) with respect to such Defaulting Lender's LC Exposure  during  the  period such Defaulting Lender's LC Exposure is cash collateralized;
2.if the LC Exposure  of  the  non-Defaulting Lenders is reallocated pursuant to clause (A) above, then the fees payable to the Lenders pursuant to Section 2.12(a) and Section 2.12(b) shall be adjusted in accordance with such non-Defaulting Lenders' Applicable Percentages; and
3.if all or any portion of  such Defaulting Lender's  LC Exposure is neither reallocated nor cash collateralized pursuant to clause (A) or (B) above, then, without prejudice to any rights or remedies of the Issuing Banks or any other Lender hereunder, all letter of credit fees payable under Section 2.12(b) with respect to such Defaulting Lender's LC Exposure shall be payable to the Issuing Banks until and to the extent that such LC Exposure is reallocated and/or cash collateralized.

a.so long as such Lender is a Defaulting Lender, the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing  Banks  shall  not  be required to issue, amend or increase any Letter of Credit, unless it is  satisfied  that  the related exposure and the Defaulting Lender's then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will be provided by the Obligors  in  accordance with Section  2.20(a)(iii),  and participating  interests in any newly made Swingline Loan or any newly issued or increased Letter of  Credit  shall be allocated  among non-Defaulting Lenders in a manner consistent with Section 2.20(a)(iii)(C) (and such Defaulting Lender shall not participate therein).
i.In the event that the Administrative Agent, the Borrower, the Swingline Lender and each Issuing Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender's Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by  or  on behalf of any Loan Party while that Lender was a Defaulting Lender; and provided, further, that

0010146-0000535 NYO1: 2000703970                                     .82

no  change  of  a Lender's  status  from  Defaulting  Lender  to  Lender  shall  constitute   a waiver or
release of any claim  of any party hereto arising  from that Lender having  been a Defaulting Lender.

i.Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary  or mandatory, at maturity, pursuant to Article VII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.08 shall be applied at such time or times as may be determined by the Administrative  Agent  as follows: first,  to the  payment  of  any amounts  owing by such Defaulting Lender to the Administrative Agent  hereunder;  second, to the  payment  on a pro rata basis of any amounts owing by such Defaulting Lender to any Issuing Bank or Swingline Lender hereunder; third, to cash collateralize the Issuing Banks' LC Exposure with respect to such Defaulting  Lender; fourth,  as the applicable Obligor  may request (so long  as no Default  or  Event of Default exists), to the funding of any Loan in respect of which such Defaulting  Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administra tive Agent;  fifth,  if  so determined  by the Administrative Agent and the applicable  Obligor,   to be held  in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender's potential future funding obligations with  respect to Loans  under  this  Agreement  and (y)  cash collateralize the Issuing Banks' future LC Exposure with respect to such Defaulting  Lender  with  respect to future Letters of Credit issued under  this  Agreement; sixth,  to the payment  of any amounts  owing to the Lenders, any Issuing Bank or Swingline Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the  Issuing  Banks  or  Swingline  Lenders against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the  payment  of  any amounts owing to the applicable Obligor as a result of any judgment of a court of competent jurisdiction obtained by the applicable Obligor against such Defaulting Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or LC Disbursements  in  respect of  which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit  were issued at a time  when the conditions   set forth in   Section
b.were satisfied or waived, such payment shall be applied solely to pay the Loans of, and LC
Disbursements owed to, all non-Defaulting Lenders  on  a pro  rata basis  prior  to  being  applied  to the payment of any Loans of, or LC Disbursements owed to, such Defaulting  Lender  until  such  time as all Loans  and funded  and unfunded  participations  in  obligations  under  any issued  Letters of Credit  and Swingline Loans are held by  the  Lenders pro rata in accordance with  the commitments under the applicable Facility without giving effect to Section   2.20(a)(iii).  Any payments, prepayments or other amounts paid  or payable  to a Defaulting  Lender  that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section 2.20(c) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

Section 2.21    Designation of Additional Borrowers.
i.Designation. Subject to the terms and conditions of this Section 2.21, the Borrower may, at any time or from time to time on or  after the  Closing  Date, upon  not  less  than ten (10) Business Days' notice (or such shorter period which is reasonably acceptable to the Administrative Agent) to the Administrative Agent (which shall  promptly notify the Lenders

0010146-0000535 NYO1: 2000703970                                     .83

thereof), request the designation of a Restricted Subsidiary as an Additional Borrower hereunder (each such designated Restricted Subsidiary shall be an "Additional Borrower" and, all of them collectively, shall be the "Additional Borrowers"). Each such notice  shall  specify (A) the  name  of the applicable Restricted Subsidiary  and (B) its  jurisdiction   of organization.   Following   the  giving of any such notice, if the accession of such Additional Borrower  obligates  the  Administra tive Agent or any Lender to comply with KYC Requirements in circumstances where the necessary information is not already available to it, the Borrower shall promptly upon the request of the Administrative Agent or any Lender supply, or procure  the  supply  of, such documentation  and  other evidence as is reasonably requested by the  Administrative Agent (for itself  or  on  behalf  of any Lender) or any Lender in order for the  Administrative Agent or  such Lender to carry out  and be satisfied it has complied with all necessary KYC Requirements related to the accession of s uch Restricted Subsidiary to this Agreement as an Additional Borrower.
i.Effect of Designation. Upon the satisfaction of the conditions specified in paragraph (c) of this Section 2.21, the applicable designated Additional Borrower shall become a party to this Agreement as an Obligor hereunder and, subject to the terms and conditions of this Agreement, such Additional Borrower shall be entitled to borrow Revolving Loans or request the issuance of Letters of Credit hereunder (and,  in  each case, such Additional Borrower shall  have and shall assume all of the obligations of an Obligor hereunder). The Administrative Agent shall promptly notify the Lenders of the effectiveness of any such designation.

ii.Conditions to Designation. The designation by  the  Borrower of  any Restricted Subsidiary as an Additional Borrower hereunder shall be subject  to the  satisfaction  of  the following conditions (including delivery to the  Administrative Agent of  the   following documents, each of which shall be reasonably satisfactory to the Administrative Agent in form and substance or may be waived by the  Administrative Agent in its sole  discretion)  and  such designation shall become effective on the date on which all such conditions are satisfied (or so waived):

1.the Administrative Agent shall have received: (i) for wholly-owned Restricted Subsidiaries incorporated in an Approved Jurisdiction, the consent of Lenders having Credit Exposures  and  unused  Commitments representing  at least 75%  of the  sum of the total Credit Exposures and unused Commitments at such time; and (ii) for any other Restricted Subsidiaries not wholly-owned or not incorporated in an Approved  Jurisdiction, the consent of all Lenders; for the avoidance of doubt, no Restricted Subsidiary that is organized or operating in a Sanctioned Country shall be permitted to become an Additional Borrower;

2.the Borrower shall confirm that, immediately prior to  and  after giving effect to such designation, no Default or  Event of  Default shall  have  occurred and  be continuing;

3.the Administrative Agent shall have received:
a.an Additional Borrower Joinder Agreement, duly completed and executed by the Borrower, such Additional Borrower and the Administrative Agent. Delivery of an Additional Borrower Joinder Agreement shall constitute

0010146-0000535 NYO1: 2000703970                                     .84

confirmation by the relevant Restricted Subsidiary that the  Repeating Representations are true and correct in relation to it as of the date of delivery, as if made by reference to the facts and circumstances then existing;

a.a copy of the constitutional documents of such Restricted Subsidiary, together with all amendments thereto;
b.in the case of  a Restricted Subsidiary incorporated in Luxembourg only, (i) a copy of an excerpt from the Luxembourg Register of Commerce and Companies dated as of the date of the Additional Borrower Joinder Agreement and (ii) a copy of a certificate of non-inscription of judicial decisions (certificat de non-inscription d'une décision judiciaire) from the Luxembourg Register of Commerce and Companies dated the date of the Additional Borrower Joinder Agreement;
c.copies of the resolutions of the board of directors of such Restricted Subsidiary authorizing (i) the Transactions  and approving the terms of,  and the transactions contemplated by, the Additional Borrower Joinder Agreement and the Loan Documents, (ii) the Additional Borrower's execution  and delivery  of the Additional Borrower Joinder Agreement and the applicable Loan Documents,
(iii) a specified person or persons to sign, on the Restricted Subsidiary's behalf, the Additional Borrower Joinder Agreement and all documents  and notices to be signed in connection with the Loan Documents to which the Additional Borrower will be party;

d.a specimen of the signature of,  and,  if  applicable, incumbency certificates or powers of attorney identifying by name and title, the persons authorized to sign  the  Additional Borrower  Joinder  Agreement on  behalf of such Additional Borrower (and to make Borrowings hereunder on behalf of such Additional Borrower );
e.A certificate of an authorized signatory of the Additional Borrower certifying that each copy document listed in  this  Section  2.21(c)  is correct, complete and in full force and effect as at a date no earlier than the date of the Additional Borrower Joinder Agreement;
f.a copy of any other authorization or other document, opinion or assurance which the Administrative Agent considers to be  necessary or desirable in connection with the entry into and performance of the transactions  contemplated by the Additional Borrower Joinder Agreement or  for  the   validity  and enforceability of any Loan Document;

g.if available, the latest audited financial statements of the Additional Borrower;
h.opinion of counsel to the Loan Parties (in substantially the same form as delivered on the Closing Date), and addressed to the Administra tive Agent and the Lenders;

0010146-0000535 NYO1: 2000703970                                     .85

a.to the extent requested by the Administrative Agent or any Lender at least three (3) Business Days in advance of the effectiveness of such designation, the Administrative Agent or such Lender shall have received (i) all documentation and other information with respect to such Restricted Subsidiary in order to comply with applicable "know your customer" and anti-money laundering rules and regulations, including the USA PATRIOT Act, and (ii) to the extent  the such Restricted Subsidiary qualifies as a "legal entity customer" a customary Beneficial Ownership Certification;
b.evidence that the  Additional Borrower has designated a process agent on the terms set forth in Section 10.09(e), unless the Restricted Subsidiary is organized in any state of the United States; and

c.the Administrative Agent shall have received a certificate of an Authorized Officer of the Borrower to the effect that the conditions to such designation set forth in this Section 2.21 shall be satisfied.

Section 2.22    Extension of Maturity Date.

(a)Requests for Extension. The Borrower may, by notice to the Administra tive Agent (who shall promptly notify the Lenders) not later than thirty (30) days prior to the date of a proposed extension (each such date of such proposed extension,  an "Extension  Date"), request  that each Lender extend such Lender's Maturity Date then in effect for such Lender (the "Applicable Maturity Date"), to a date (the "Extended Maturity Date") that is one year after the Applicable Maturity Date. The Borrower may make no more than two (2) such requests for extension.

(b)Lender Elections to Extend. Each Lender shall, by notice to  the Administrative Agent given not later than the date that is ten (10) days after the date on which the Administrative Agent received the applicable Obligors' extension request (the "Lender Notice Date"), advise the Administrative Agent whether or not such Lender agrees to  such  extension (each Lender that determines to so extend its Applicable Maturity Date, an "Extending Lender"). Each Lender that determines not to so extend its Applicable Maturity Date (a "Non-Extending Lender") shall notify the Administrative Agent of such fact promptly  after such determination  (but in any event no later than the Lender Notice Date), and any Lender that does not so advise the Administrative Agent on or before the Lender Notice Date shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to such extension shall  not  obligate  any other  Lender to so agree, and it is understood and agreed that  no  Lender  shall  have  any obligation  whatsoever to agree to any request made by any Obligor for extension of the Applicable Maturity Date.
(c)Notification by Administrative Agent.  The   Administrative  Agent  shall notify the Obligors of each applicable Lender's determination  under this  Section  2.22 no later than the earlier of (i) the date that is fifteen (15) days prior to the applicable Extension Date (or, if such date is not a Business Day, on the next preceding Business Day) and  (ii)  the  date that is  five  (5) days following the applicable Lender Notice Date.

0010146-0000535 NYO1: 2000703970                                     .86

a.Additional Commitment Lenders. The Obligors shall   have  the  right,  but shall  not be obligated, on or before the  Applicable  Maturity  Date for any Non-Extending  Lender   to replace such Non-Extending Lender with, and add as a "Lender" under this Agreement in place thereof, one or more financial  institutions (each, an "Additional Commitment Lender") approved by the Administrative Agent, the Issuing Banks and the Swingline Lender in accordance with the procedures provided in Section 2.19(b), each of which applicable Additional Commitment Lenders shall have entered into an Assignment and Assumption (in accordance with and subject to the restrictions contained in Section  10.04, with the applicable Obligor(s) or replacement Lender obligated to pay any applicable processing or recordation fee) with such Non-Extending Lender, pursuant to which  such Additional Commitment Lenders shall, effective on  or  before  the Applicable Maturity Date for such Non-Extending Lender, assume  a  Commitment  (and,  if  any such Additional Commitment Lender is already a Lender, its Commitment so assumed shall be in addition to such Lender's Commitment hereunder on such date). The Administrative Agent may effect such amendments to this Agreement as are reasonably necessary to provide for any such extensions with the consent of the Loan Parties but without the consent of any other Lenders.

b.Minimum Extension Requirement. If (and only if) the total of the applicable Commitments of the Lenders that have agreed to extend their Applicable  Maturity  Date and  the new or increased Commitments is at least fifty percent (50%) of the aggregate amount of the Commitments in effect immediately  prior  to the  applicable  Extension  Date, then,  effective  as of the applicable Extension Date, the Applicable Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the Extended Maturity Date (except that,  if such date is not a Business Day, such Extended Maturity Date shall be the next preceding Business Day), and each Additional Commitment Lender shall thereupon become  a  "Lender"  for  all purposes of this Agreement and shall be bound by the provisions of this Agreement as a Lender hereunder and shall have the obligations of a Lender hereunder.

c.Conditions to Effectiveness of Extension.  Notwithstanding  the  foregoing, any extension of any Applicable Maturity Date pursuant to this Section 2.22 shall not  be effective with respect to any Extending Lender and each Additional Commitment Lender unless  (i)  no Default or Event of Default shall have  occurred and be  continuing  on  the  applicable  Extension Date and immediately after giving effect thereto; and (ii) the representations and warranties of the Loan Parties set forth in this Agreement are true and correct in all material respects (or in  all respects if the applicable representation or warranty is qualified by Material Adverse Effect or materiality) on and as of the applicable Extension Date and after giving effect thereto,  as though made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such date), as evidenced by the delivery of a certificate of an Authorized Officer of the Borrower dated as of the Extension Date.
d.Maturity Date for Non-Extending Lenders.  On  the  Applicable Maturity Date of each Non-Extending Lender, (i) to the extent of the Commitments of each Non-Extending Lender not assigned to the Additional Commitment Lenders, the Commitment of each Non- Extending Lender shall automatically terminate and (ii) the  Obligors shall repay such  Non- Extending Lender in accordance with Section  2.10  (and shall  pay to such Non-Extending  Lender all of the other Obligations due and owing to it under this Agreement, including any additional amounts required pursuant to Section 2.16) and the Administrative Agent shall administer any necessary reallocation of the applicable Credit Exposures with respect to Commitments to the

0010146-0000535 NYO1: 2000703970                                     .87

extent necessary to keep outstanding Revolving Loans ratable with any revised Applicable Percentages of the respective Lenders effective as of such date (without regard to any minimum borrowing, pro rata borrowing and/or pro rata payment requirements contained elsewhere in this Agreement).

a.Conflicting Provisions. This Section 2.22 shall supersede any provisions in Section 2.18 or Section 10.02 to the contrary.

Section 2.23    Effect of Benchmark Transition Event.

(a)    Defined Terms. As used in this Section 2.23, the following terms have the following meanings:
"Benchmark Replacement" means the sum of: (a) the alternate benchmark rate  (which may include Term SOFR) that has been selected and agreed to by both the Administrative Agent  and the Borrower giving due consideration to (i) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving  or  then-prevailing  market convention  for determining   a rate of interest  as a replacement to the Adjusted LIBO Rate for Dollar-denominated syndicated credit facilities at such time and (b)  the Benchmark Replacement Adjustment; provided that, if the Benchmark Replacement as so determined would be less than zero, the  Benchmark Replacement  will  be  deemed to be  zero for the purposes of this Agreement.
"Benchmark Replacement Adjustment" means, with respect to any replacement of the Adjusted LIBO Rate with an Unadjusted Benchmark Replacement for each applicable Interest Period, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative  value  or  zero)  that has been selected and agreed to by both the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the  replacement of Adjusted  LIBO Rate with the  applicable  Unadjusted Benchmark Replacement by the Relevant Governmental  Body  or (ii) any evolving or then- prevailing market convention for determining a spread adjustment,  or method for calculating or determining such spread adjustment, for the replacement of Adjusted  LIBO Rate  with  the applicable Unadjusted  Benchmark  Replacement  for  Dollar-denominated  syndicated  credit facilities at such time (which,  in  each case, may include  an adjustment  or method  for  calculating or determining such an adjustment that is published on  an information  service  as selected and agreed to by both the Administrative Agent and the Borrower from time to time), it being acknowledged and agreed that such Benchmark Replacement Adjustment shall  not,  without the prior written consent of the Borrower  (not  to be unreasonably  withheld,  conditioned or  delayed), be in the form of an increase of the Applicable Margin; provided, that, it is further acknowledge d and agreed that the addition of or other introduction  of a Benchmark  Replacement  Adjustment  shall be deemed to not be an increase to the Applicable Margin hereunder.
"Benchmark Replacement Conforming Changes" means, with respect to any Benchmark Replacement, any technical, administrative or operational  changes (including changes to the definition of "ABR," the definition of "Interest Period,"  timing  and frequency of determining  rates and making payments of interest and other administrative matters) that the Administrative Agent

0010146-0000535 NYO1: 2000703970                                     .88

and the Borrower mutually agree are appropriate  to reflect  the adoption  and implementation  of  such Benchmark Replacement and to permit the administration thereof by  the  Administra tive Agent in a manner substantially consistent  with then-prevailing market practice (or, if the Administrative Agent decides that adoption of any portion of  such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of the Benchmark Replacement  exists,  in  such other manner  of administration as  the Administrative Agent decides is reasonably necessary in connection  with  the administration  of this Agreement).
"Benchmark Replacement Date" means the earlier to occur of the following events with respect to Adjusted LIBO Rate:

(a)in the case of clause (1) or (2) of  the definition  of  "Benchmark  Transition  Event," the later of (a) the date of the public statement or  publication of information referenced therein and (b) the date on which the administrator of the Adjusted LIBO Rate permanently or indefinitely ceases to provide the Adjusted LIBO Rate; or
(b)in the case of clause (3) of the definition of "Benchmark Transition Event," the date
of the public statement or publication of information referenced therein.
"Benchmark Transition Event" means the occurrence of one or more of the following events with respect to the Adjusted LIBO Rate as determined  by (i)  the Administrative Agent, (ii) the Required Lenders pursuant to a notification delivered  to the Administrative  Agent (with a copy to the Borrower) or (iii) the Borrower pursuant to a notification delivered to the Administra tive Agent:

(a)a public  statement or publication of information  by or on behalf of the administra tor of LIBOR announcing that such administrator has  ceased or  will  cease to provide the Adjusted LIBO Rate, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator  that will  continue to provide the Adjusted LIBO Rate;
(b)a public  statement  or publication of information  by  the  regulatory  supervisor  for  the administrator of the Adjusted LIBO Rate, the U.S. Federal Reserve System, an insolvency official with jurisdiction over the administrator for the  Adjusted  LIBO Rate, a resolution authority with jurisdiction over the administrator for the Adjusted LIBO Rate or a court or an entity with similar  insolvency  or  resolution  authority over the  administrator for the  Adjusted LIBO Rate, which  states that the administrator of the Adjusted LIBO Rate has ceased or will cease to provide the Adjusted LIBO Rate permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Adjusted LIBO Rate; or
(c)a public statement  or publication of information  by  the  regulatory  supervisor  for  the administrator of the Adjusted LIBO Rate announcing that the Adjusted  LIBO Rate is no longer representative.

0010146-0000535 NYO1: 2000703970                                     .89

"Benchmark Transition Start Date" means (a) in the case of a Benchmark Transition Event, the earlier of (i) the applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement  or  publication of  information  of  a prospective  event,  the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication) and (b) in the case of an Early Opt-in Election, the date specified by the Administrative Agent, the Borrower or the Require d Lenders, as applicable, by notice to the Borrower (in case of such notice by the  Administra tive Agent or the Required Lenders), the Administrative Agent (in the case of such notice by  the Required Lenders) and the Lenders.

"Benchmark Unavailability Period" means, if a Benchmark Transition Event and  its related Benchmark Replacement Date have occurred with respect to the Adjusted LIBO Rate and solely to the extent that the Adjusted LIBO Rate has not been replaced with a Benchmark Replacement, the period (x) beginning at the time that such Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the Adjusted LIBO Rate for all purposes hereunder in accordance with this Section  2.23  and (y) ending at the time that a Benchmark Replacement has replaced the Adjusted LIBO Rate for all purposes hereunder pursuant to this Section 2.23.
"Early Opt-in Election" means the occurrence of:

(a)(1) (i) a determination by the Administrative Agent or (ii) a notification by the Required Lenders to the Administrative Agent (with a copy  to the  Borrower) that the Required Lenders have determined, in each case, that at least five (5) Dollar - denominated syndicated  credit  facilities being  executed or  amended  at such time, or that include language similar to that contained in this Section 2.23, are being executed or amended, as applicable, to incorporate  or adopt a new benchmark interest rate to replace the Adjusted LIBO Rate, and
(b)(2) (i) the election by the Administrative Agent or (ii) the election by the Require d Lenders to declare that an Early Opt-in Election has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrower and the Lenders or by the Required Lenders of written notice of such election to the Administrative Agent.

"Federal Reserve Bank of New York’s Website" means the website of the Federal Reserve
Bank of New York at http://www.newyorkfed.org, or any successor source.

"Relevant Governmental Body" means the Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the  Board and/or  the  Federal Reserve Bank of New York or any successor thereto.
"SOFR" with respect to any day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the administrator of the benchmark, (or a successor administrator) on the Federal Reserve Bank of New York's Website.

0010146-0000535 NYO1: 2000703970                                     .90

"Term SOFR" means the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

"Unadjusted Benchmark Replacement" means the Benchmark Replacement excluding
the Benchmark Replacement Adjustment.

i.Benchmark Replacement. Notwithstanding anything  to the  contrary  herein or in any other Loan Document,  upon  the  occurrence of (i)  a Benchmark Transition  Event or  (ii) an Early Opt-in Election,  as applicable,  the  Administrative Agent and  the  Borrower may amend this Agreement to replace the Adjusted LIBO Rate with a Benchmark Replacement, by a written document executed by the Borrower and the Administrative Agent, subject to the  requirements  of this Section  2.23. Notwithstanding the requirements of Section 10.02 or anything  else  to  the contrary herein or in any other Loan Document, (x) any such amendment  with respect to a Benchmark Transition Event  will  become  effective  and binding  upon  the  Administrative Agent, the Obligors and the Lenders at 5:00 p.m., New York City time on  the  fifth  (5th)  Business  Day after the Administrative Agent has posted such proposed amendment  to all Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the  Required  Lenders; provided  that,  if such Benchmark Replacement includes Term SOFR, then the Required Lenders  shall  be deemed to have accepted such Benchmark Replacement and shall only have the right to object to the Benchmark Replacement Adjustment and (y) any such amendment  with  respect to an Early  Opt-  in Election will  become  effective  and binding  upon  the  Administrative Agent,  the  Obligors  and the Lenders on the date that Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders accept such amendment. No replacement of the Adjusted LIBO Rate with a Benchmark Replacement pursuant to this Section
2.23 will occur prior to the applicable Benchmark Transition Start Date.

ii.Benchmark Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the Administrative Agent  will  have  the  right  to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments  implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement (but, for the avoidance of doubt, such related changes shall not result in an increase of  the Applicable Margin; provided, that the parties acknowledge and agree that the addition of or other introduction of a Benchmark Replacement Adjustment shall be deemed to not be an increase to the Applicable Margin).
iii.Notices; Standards for Decisions and Determinations. The Administra tive Agent will promptly notify the Obligors and the Lenders in writing of (i) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (ii) the implementation of   any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes and (iv) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or  election  that  may be made  by  the Administrative  Agent, the  Borrower or the  Required  Lenders pursuant  to this Section  2.23, including, without limitation, any determination with respect to a tenor, comparable replacement rate or  adjustment,  or implementation of any Benchmark Replacement Conforming Changes, or of the occurrence or

0010146-0000535 NYO1: 2000703970                                     .91

non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and binding on all parties hereto absent manifest error and may be  made in its or their commercially reasonable discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this Section 2.23.
i.Benchmark Unavailability Period. Upon the  Obligors'  receipt of  notice  of the commencement  of a Benchmark Unavailability  Period,  any Obligor  may revoke  any request  for a Eurodollar Borrowing of, conversion to or continuation of Eurodollar Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, such Obligor will be deemed to have converted any such request into a request for a Borrowing of or conversion to an ABR Borrowing. During any Benchmark Unavailability Period, the components of  ABR  based upon the Adjusted LIBO Rate will not be used in any determination of ABR.

Section 2.24    Illegality.
(a)If any Lender determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain, or fund Eurodollar Loans, or  to determine  or  charge interest  rates based upon the Adjusted LIBO Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase  or  sell,  or  to take deposits  of,  Dollars  in the London interbank market, then, upon notice  thereof  by such Lender  to the  Obligors  (through the Administrative Agent), (i)  any obligation  of such Lender to make or continue  Eurodollar  Loans or to convert ABR Loans to Eurodollar Loans  shall  be suspended,  and  (ii)  if  such notice  asserts the illegality of such Lender making or maintaining ABR Loans the interest rate on which is determined by reference to the Adjusted LIBO Rate component of the Alternate Base Rate, the interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative  Agent without  reference to the Adjusted  LIBO Rate component of the Alternate Base Rate, in  each case until  such Lender notifies the Administrative  Agent  and the Obligors that the circumstances giving rise to such determination no longer exist; provided that each Lender agrees to designate a different Lending Office if such designation will  avoid  the need for such notice, and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender; provided further, that such designation shall not increase the amounts payable by the Obligors under Sections 2.15 and 2.17 (unless approved by the Borrower).

(b)Upon receipt of such notice, (i) the applicable Obligor shall, upon  demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Loans of such Lender to ABR Loans (the interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by  the  Administrative  Agent without reference to the Adjusted LIBO Rate component of the Alternate Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Loans to such day, or immediately, if such  Lender  may  not  lawfully  continue  to maintain such Eurodollar Loans and (ii) if such notice asserts the illegality of  such  Lender determining or charging interest rates based upon the Adjusted LIBO  Rate, the  Administrative Agent shall during the period of such suspension  compute  the Alternate  Base Rate applicable to such Lender without reference to the Adjusted  LIBO Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is  no  longer  illegal  for  such Lender to determine or charge interest rates based upon the Adjusted LIBO Rate. Upon any such

0010146-0000535 NYO1: 2000703970                                     .92

prepayment or conversion, the applicable Obligor shall also pay accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to Section 2.16.

Section 2.25    Financial Calculations for Limited Condition Transactions.

(a)In connection with any action being taken in connection with a Limited Condition Transaction, for purposes  of determining compliance with  any  provision  of  this Agreement which requires that no Default or Event of Default, as applicable, has occurred, is continuing or would  result  from any such action,  as applicable,  such condition  shall,  at the  option of the Borrower, be deemed satisfied, so long as no Default or Event of  Default,  as applicable, exists on the date the definitive agreement (or other relevant definitive documentation) for such Limited Condition Transaction is executed. For the avoidance  of doubt, if the  Borrower  has exercised its option under the first sentence of this paragraph, and any Default or Event of Default occurs following the date such definitive agreement for  a  Limited  Condition  Transaction  is executed and prior to the  consummation  of such Limited  Condition  Transaction,  any such Default or Event of Default shall be deemed to not have occurred or be continuing for purposes  of determining whether any action being taken in connection  with  such  Limited  Condition Transaction is permitted hereunder.
(b)In connection with any action being taken in connection  with a Limited Condition Transaction for purposes of: (1) determining compliance with any provision of this Agreement which requires the calculation of the Total Net Leverage Ratio;  or  (2)  testing  baskets set forth in this Agreement (including baskets measured as a percentage of Total Assets); in each case, at the option of the Borrower (the Borrower's election to exercise such option in connection with any Limited Condition Transaction, an "LCT Election"), the date of determination of whether any such action is permitted hereunder, shall be deemed to be the date the definitive agreement (or other relevant definitive  documentation)  for  such  Limited  Condition  Transaction  is  entered into (the "LCT Test Date"); provided, however, that the Borrower shall be entitled to  subsequently elect, in its sole discretion, the date  of  consummation  of  such  Limited  Condition  Transaction instead of the LCT Test Date as the applicable date of determination, and if, after giving pro forma effect to the Limited Condition Transaction and the other transactions to be entered into  in connection therewith (including any incurrence of Debt and the use of proceeds thereof), as are appropriate and consistent with the pro forma adjustment provisions set forth in the definitions of "Consolidated EBITDA" and "Total Net Leverage Ratio", the  Borrower or  any Restricted Subsidiary could have taken such action on the relevant LCT Test Date in compliance  with  such ratio, test or basket, such ratio, test or basket shall be deemed to have been complied with.
(c)If the Borrower has made an LCT Election and any of the ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date are exceeded as a result of fluctuations in any such ratio, test or basket, including due to fluctuations in Consolidated EBITDA or Total Assets, of the Borrower and its Restricted Subsidiaries at or prior to the consummation of the relevant transaction or action, such baskets or  ratios  will  not  be deemed to have been exceeded as a result of such fluctuations. If the Borrower has made an LCT Election for any Limited Condition Transaction, then in connection with  any  subsequent  calculation  of  any ratio, test or basket availability under this Agreement (including with respect to the incurrence of  Debt or Liens, or the making of Permitted Disposals,  acquisitions,  mergers, the  conveyance, lease or other transfer of all or substantially all of the assets of the Borrower or any Restricted Subsidiary

0010146-0000535 NYO1: 2000703970                                     .93

or the designation of an Unrestricted Subsidiary) on or following the relevant  LCT Test Date and prior to the earlier of  the  date on  which  such Limited  Condition  Transaction  is  consummated  or the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, any such ratio, test or basket shall  be calculated on  a pro forma  basis assuming such Limited Condition Transaction and  other transactions in connection therewith (including any incurrence of Debt and the use of proceeds thereof) have been consummated.

ARTICLE III REPRESENTATIONS AND WARRANTIES
Each Obligor represents and warrants to the Lenders that:

Section 3.01 Organization; Powers. Each Loan  Party  is  duly  organized  and  validly existing under the laws of the jurisdiction of its organization. Each Loan Party and each Significant Subsidiary has all requisite power to own its assets and carry on its business as it is now being conducted.

Section 3.02 Power and Authority; Enforceability. Each  Loan  Party has  the  power  to enter into, perform and deliver, and has taken all necessary action to authorize its entry into, performance and delivery of, the Loan Documents to which it is a party and the Transactions. Each Loan Document to which each Loan Party is a party to constitutes a legal, valid and binding obligation of each such Person, enforceable against each such Person in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of  whether considered in a proceeding in equity or at law.

Section 3.03 Validity and  Admissibility  into  Evidence.  All  consents,  approvals, resolutions, licenses, exemptions, filings, notarizations or registrations required or desirable  to (a) enable each Loan Party to lawfully enter into, and perform its obligations under,  the  Loan Documents to which each such Person is a party and (b) to make the Loan Documents to which each such Person is a party admissible in evidence in its jurisdiction of organization, have been obtained or effected and are in full force and effect.

Section 3.04 Non-Conflict with Other Obligations. The entry  into  and  performance  by each Loan Party of the Loan Documents to which each such Person is a party, and the Transactions, do not and will not conflict with (a) any law or regulation applicable to it; or (b) its constitutiona l documents; or (c) any agreement or other instrument binding upon it or any of its assets, except  where any violation of any such agreement or instrument, individually  or  in  the  aggregate, would not reasonably be expected to result in a Material Adverse Effect.

Section 3.05    Financial Statements; No Material Adverse Change.

(a)The audited  consolidated financial statements of the  Borrower and its Subsidiaries for the Financial Year ended December 31, 2019 and the unaudited consolidated quarterly financial statements of the Borrower and its Subsidiaries for the Financial Quarter ended June 30, 2020 (a) were prepared in accordance with IFRS consistently applied and (b) fairly

0010146-0000535 NYO1: 2000703970                                     .94

represent the financial condition and operations of  the  Borrower and its Subsidiaries on a consolidated basis for the relevant periods covered thereby.

a.Since (i) December 31, 2019 in the case of the making of this representation on the Closing Date and (ii) the date of the most recent financial statements delivered pursuant to Section 5.01(a) in the case of making this representation following the Closing Date, no Material Adverse Effect has occurred.
Section 3.06    Properties; Intellectual Property.

(a)Each Loan Party has good title to, or valid leasehold interests in, all its  real and personal property material to its business,  except for such defects in  title  that,  either individually or in the aggregate, do not interfere with its ability to conduct its business as currently conducted or  to utilize such properties  for their  intended  purposes  or  except where the  failure  to do so would not reasonably be expected to result in a Material Adverse Effect.
(b)(i) Each Loan Party and each Significant Subsidiary is the   sole  and beneficial owner of, or has licensed to it on standard commercial terms, all the trademarks, tradenames, domain names, copyrights, patents, trade secrets, proprietary know-how and other intellectual property (collectively, "Intellectual Property") which is material in the context of its business or which is reasonably required by it in order to carry on its business as it is now being conducted or as it is currently proposed to be conducted; (ii) no Loan Party nor any Significant Subsidiary infringes or violates any Intellectual Property of any Person in carrying  out  their respective businesses, or in connection with offering or providing their respective products  or services; (iii) to the best of each Loan Party's knowledge and belief, no Person is infringing  or violating any owned Material Intellectual Property; and (iv) each Loan Party and each Significant Subsidiary has taken all actions (including payment  of fees) reasonably required   to  obtain, preserve, renew and maintain all Material Intellectual Property owned by it,  except, in  the case of (i), (ii), (iii) and (iv), where any failure to be so, or do so, or to have done so has not resulted in, or would not reasonably be expected to result in, a Material Adverse Effect.

Section 3.07    Litigation.

Except as disclosed in the financial statements referred to in Section 3.05(a), no Proceeding which, if adversely determined, would reasonably be expected to result in a Material  Adverse Effect, have been commenced or, to the best of each Loan Party's knowledge and belief are threatened against, any such Person or any Significant Subsidiary.

Section 3.08  Compliance   with  Laws; Environmental   Compliance;   No Default  or  Event of Default.

(a)Each Loan Party and each Significant Subsidiary is and has been in compliance with all Laws of any Governmental Authority applicable to it or its property,  except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.
(b)Each Loan Party and each Significant Subsidiary is and has been in compliance with all Environmental Laws and all other permits, licenses, authorizations, covenants,

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conditions, restrictions  or  agreements directly  or  indirectly  concerned  with  Environmental  Laws or any Release (i) in connection with any real property  which is or was at any time  owned,  leased or occupied by such Person or  on which  such Person has conducted  any activity,  or  (ii)  for which a Loan Party is or has been alleged to be responsible, except where failure to do so would not reasonably be expected to result in a Material Adverse Effect.
a.There are no pending or, to the knowledge of the Loan Parties, threatened Proceedings against or affecting the Loan Parties or the Significant Subsidiaries concerning  any actual or alleged Environmental Liabilities, including any Proceedings relating to any current or former businesses, operations, properties, or locations owned, leased, occupied,  or  used  by  the Loan Parties or the Significant Subsidiaries,  and  to the  knowledge  of the  Loan Parties, there are  no facts, circumstances, or conditions that could reasonably be expected to form the basis  of any such Proceedings or any Environmental  Liabilities,  except  in  each case as would  not  reasonably be expected to result in a Material Adverse Effect.
b.No Default or Event of Default has occurred and is continuing.
c.No other event or circumstance is outstanding which constitutes a default under any material agreement or instrument which is binding on Loan Party or any Significant Subsidiary, or to which any such Person's assets are subject which has resulted in, or would reasonably be expected to result in, a Material Adverse Effect.
Section 3.09    Investment Company Status. No Loan Party is an "investment company" as
defined in, or subject to regulation under, the Investment Company Act of 1940.
Section 3.10 Taxes. Each Loan Party has duly  and punctually paid  or  caused to be paid and discharged all Taxes imposed upon it or its assets within the time period  allowed,  except for Taxes that are being contested in good faith by appropriate proceedings and for which such Person, as applicable, has set aside on its books adequate reserves in  accordance with IFRS. No Loan Party is materially overdue in the filing of any Tax returns. No claims are  being  asserted  or   are reasonably likely to be asserted against any Loan Party with respect to Taxes that would reasonably be expected to result in a Material Adverse Effect. It is not required  to make  any deduction  for  or on account of any Tax from any payment it may make under any Loan Document.  Under the laws of the jurisdiction of organization  of any Loan Party, it  is  not  necessary that  the Loan Documents be filed, recorded or enrolled with any Governmental Authority in such jurisdiction  or  that any stamp, registration or similar tax be paid on or in relation to the  Loan Documents or  the  Transactions.
Section 3.11 ERISA. Except as would not reasonably be expected to result in a Material Adverse Effect, each Plan is in compliance with all applicable provisions  and  requirements  of ERISA and the Code and all other applicable Laws and regulations.  No ERISA Event has occurred or is reasonably expected to occur that would reasonably be expected to result in  a  Material Adverse Effect. The excess of the present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) as of the date of the most recent financial statements reflecting such amounts, over the fair market value of the assets of such Plan would not reasonably be expected to result in a Material Adverse Effect, and the excess of the present value of all accumulated benefit obligations of all

0010146-0000535 NYO1: 2000703970                                     .96

underfunded Plans (based on  the  assumptions used for purposes of Statement of Financial Accounting Standards No. 87) as of the date of the most recent financial statements reflecting such amounts, over the  fair market value of the assets of all such underfunded  Plans would not  reasonably be expected to result in a Material Adverse Effect.
Section 3.12 No Misleading Information.  Any  factual  information  contained   in  the Annual Report was true and accurate in all material respects as of the date it was provided or as of the date (if any) at which it is stated. Nothing has occurred or been omitted from the Annual Report and no information has been given or withheld that results in the  information  contained  in  the Annual Report being untrue or misleading in any material respect, in  each case, as of  the  date  it was provided or as of the date (if any) at which it is stated.

Section 3.13 Sanctions Laws;  Anti-Corruption,  Anti-Bribery,  Anti-Money  Laundering Laws and Regulations.
(a)No Loan Party, nor any of their respective Subsidiaries, nor any of their directors, officers and employees, or, to the best of the knowledge and belief of the Loan Parties, agents or representatives:

(i)is a Designated Person;

(ii)is, or for the last five (5) years has been, in violation of any Sanctions
Laws; or
(iii)is, or for the last five (5) years has been, engaged in any dealings or
activities with or for the benefit of any Designated Person.
(b)There are no pending or, to the best of the knowledge and belief of the Loan Parties, threatened Proceedings involving the Loan Parties or their Subsidiaries with respect to any Sanctions Laws.

(c)Each Loan Party has instituted and maintains policies and procedures designed to promote and achieve compliance with Sanctions Laws.

(d)(i) No Loan Party, nor any of their Subsidiaries, nor any of their directors, officers, employees and, to the best of the knowledge and belief of each  Loan  Party,  their respective agents, representatives, and Affiliates, has engaged in any activity or conducted its businesses in any way which would violate any Anti-Money Laundering Laws, (ii) there are no pending, or to the best of the knowledge and belief of the Loan Parties, threatened Proceedings involving the Loan Parties or their Subsidiaries with respect to any Anti-Money Laundering  Laws, and (iii) each Loan Party has instituted and maintains policies and procedures designed to promote and achieve compliance with Anti-Money Laundering Laws.
(e)The Loan Parties and their Subsidiaries, and their respective directors, officers, employees, and to the best of the knowledge and belief of the Loan Parties, agents and representatives, have not corruptly paid, offered or promised to pay, or authorized payment of any monies or things of value, directly or indirectly, to any person, including without limitation any government official or any political party or party official or candidate for political office, for the

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purpose of obtaining or retaining business,  or directing  business  to any person,  or obtaining  any  other improper advantage, in each case in violation of Anti-Corruption Laws (collectively , "Prohibited Payments"), and there are no pending or, to the  best of  the  knowledge  and belief  of the Loan Parties, threatened Proceedings involving the Loan Parties or their  Subsidiaries with respect to Anti-Corruption Laws. Each Loan Party has instituted and maintains policies and procedures designed to promote and achieve compliance with Anti-Corruption Laws.

Section 3.14 Federal Reserve Board Regulations. None of the Obligors is engaged or will engage, principally or as one of its important activities, in the business of extending credit for the purposes of "purchasing" or "carrying"  any  "Margin  Stock"  within  the  respective  meanings  of such terms under Regulations U, T and X of the Board. No part  of the proceeds of  the Loans  will be used for "purchasing" or "carrying" "Margin Stock" as so defined  for  any  purpose  which violates, or which would be inconsistent  with, the provisions  of, any applicable Laws or regula tions of any Governmental Authority (including, without limitation, the Regulations of the Board).
Section 3.15    Solvency. Each Loan Party is Solvent.

Section 3.16 Centre of Main Interest and Establishment. For the purposes  of Regulation (EU) 2015/848 of the European Parliament and the Council of 20 May 2015 on insolvency proceedings (recast) (the "Recast Regulation"), the Borrower's centre of main interest (as  that terms is used in  Article  3(1) of the  Recast Regulation)  is  situated  in  either Luxembourg,  Sweden or England and Wales, or for purposes of the Cross Border Insolvency Regulations 2006 (the "CBIR"), the Borrower's centre of main interest (as that term is  used in  Article  2 (Definitions)  of the CBIR) is situated in the  United  States of  America, and the  Borrower has no "establishment" (as that term is defined in Article 2(10) of the Recast Regulation or Article 2 of the CBIR) in  any other jurisdiction.
Section 3.17 Governing Law and Enforcement.  Subject  to the qualifications  contained in any legal opinion delivered pursuant to Section 4.01 or Section 2.21(c)(iii)(E),  (a)  the  choice  of New York law as the governing law of the Loan  Documents  will  be  recognized  and enforced in the jurisdiction of organization of each Loan Party and (b) any judgment obtained in New York in relation to a Loan Document will be recognized and enforced in the jurisdiction of organization of each Obligor.

Section 3.18 Pari Passu Ranking. The obligations of each Loan Party under the Loan Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law  applying  to  companies  in  each relevant jurisdiction generally.

ARTICLE IV CONDITIONS PRECEDENT
Section 4.01 Conditions Precedent to the Closing Date. The obligations of the Lenders
to make Loans and of the Issuing Banks to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived  in accordance with Section 10.02):

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(a)The Administrative Agent (or its counsel) shall have received from  each party thereto either (i) a counterpart of this Agreement, or (i ) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic mail transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.
(b)The Administrative Agent shall have received an opinion (addressed to the Administrative Agent and the Lenders and dated the Closing Date) of each of (i) Jones Day, New York counsel to the Loan Parties, in form and substance satisfactory to the Administrative Agent; and (ii) Hogan Lovells (Luxembourg), LLP, Luxembourg counsel to the Loan Parties, in form and substance satisfactory to the Administrative Agent.
(c)The Administrative Agent shall have received the following items from the

0010146-0000535 NYO1: 2000703970                                     .99

Loan Parties:

(i)a copy of the constitutional documents of each Loan Party;

(ii)in the case of a Luxembourg Loan Party only, (A) a copy of an

excerpt from the Luxembourg Register of Commerce and Companies dated  the  Closing Date and (B) a copy of a certificate of non-inscription of judicial decisions (certificat de non-inscription d'une décision judiciaire) from the Luxembourg Register of  Commerce and Companies dated the Closing Date;
i.copies of the resolutions of the board of directors of each Loan Party authorizing (i) the Transactions, (ii) the execution and delivery of the Loan Documents to which it is a party, and (iii) a specified person or persons to sign, on  each Loan Party's  behalf, all documents and notices to be signed in connection with the Loan Documents to which it is a party;
ii.a specimen of the  signature of, and, if applicable, incumbency certificates or powers of attorney identifying by name and title, the persons authorized  to  sign the Loan Documents on behalf of each Loan Party (and to make Borrowings hereunder on behalf of the Obligors) mentioned in clause (iii) above;
iii.such other documents  and certificates (including organizationa l documents and good standing certificates (if applicable)) as the Administrative Agent may reasonably request relating to the  organization, existence and good  standing  of  the Borrower and any other legal matters relating to the Borrower, the Credit Agreement or the transactions contemplated thereby;

iv.a copy of the notice of cancellation  of  the  available commitments and termination of the  Existing Facility Agreement sent by  the  Borrower to the administrative agent under the Existing Facility Agreement pursuant to Section 9.5 thereof, provided that such notice shall provide for (1) the cancellation and  termination  of  the Existing Facility Agreement and (2) that all  outstanding  amounts  thereunder  shall  have been paid in full, in each case, to occur prior to or concurrently with the Closing Date; and

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i.a certificate, dated the Closing Date, and signed by an Authorized Officer of the Borrower, confirming satisfaction of the conditions set forth in this  Section 4.01.

a.The audited  consolidated financial statements of the  Borrower and its Subsidiaries for the Financial Year ended December 31, 2019 and the unaudited consolidated quarterly financial statements of the Borrower and its Subsidiaries for the Financial Quarter ended June 30, 2020, shall be publicly available for review by the Lenders;

b.The Administrative Agent shall have received payment of all fees (and other amounts due and payable to the Administrative Agent) for its  own account and for  the account of  the Lenders on or prior to the Closing Date, including, to the extent invoiced at least  five  (5) Business Days prior to the Closing Date, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid by the Obligors hereunder (excluding legal fees).
c.The Mandated Lead Arrangers and the ESG Coordinator shall have received all fees and other amounts due and payable to the Mandated Lead Arrangers or the  ESG Coordinator  (as applicable),  including,  to the extent invoiced at least  five  (5) Business  Days prior to the Closing Date, reimbursement  or payment of all out of pocket expenses required to be reimbursed or paid by the Obligors hereunder (excluding legal fees).
d.Upon the request of any Lender pursuant to Section 2.11(c) at least five (5) Business Days prior to the Closing Date, such Lender (or the Administrative Agent (or its  counsel) on such Lender's behalf) shall have received a Note in the  amount  of  such Lender's Commitment as of the Closing Date.
e.Upon the reasonable request of any Lender or  the  Administrative Agent made at least ten (10) days prior to the Closing Date, the Obligors shall  have  provided  to such Lender or the Administrative Agent (as applicable) the documentation and other information (including, if an Obligor qualifies as a "legal entity customer" under the Beneficial Ownership Regulation, a customary Beneficial Ownership Certification in respect  of  such  Obligor)  so requested in connection with applicable "know your  customer"  and anti-money-laundering   rules and regulations, including the  USA PATRIOT Act and Beneficial Ownership Regulations (collectively, the "KYC Requirements"), in each case at least five (5) days prior to  the  Closing Date.

Section 4.02  Conditions   Precedent to Each Credit Event. The  obligation   of  each Lender to make a Loan on the occasion of any Borrowing, and of the Issuing Banks to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions:
(a)the Administrative Agent and,  if  applicable,  the  applicable  Swingline  Lender or applicable Issuing Bank shall have received a written Borrowing Request in accordance with Section 2.03, a request for a Swingline Loan in accordance with Section 2.05, or a Letter of Credit Request for issuance of Letter of Credit in accordance with Section 2.06, as applicable, in accordance with the requirements thereof;
(b)The Repeating Representations shall be true and correct in all material respects (or in all respects if such representation or warranty is qualified by Material Adverse

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Effect or other materiality qualifier) on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable (except to the extent  that any such representation and warranty expressly relates to an earlier date, in which case such representation and warranty shall be true and correct in all material respects as of such earlier date).
a.At the time of, and immediately after giving effect to the making of such Borrowing or the issuance, amendment,  renewal or  extension  of such Letter of Credit,  as applicable, no Default or Event of Default shall have occurred and be continuing.

ARTICLE V AFFIRMATIVE COVENANTS
Until the Commitments have expired or been terminated and the principal of and interest
on each Loan and all fees and other Obligations payable hereunder shall have been paid in full  and all Letters of Credit shall have expired or terminated, in each case, without any pending  draw, and  all LC Disbursements shall have been reimbursed, each Loan Party (as applicable) covenants and agrees with the Lenders as follows:

Section 5.01    Financial    Statements;   Ratings    Change    and   Other   Information.    The Borrower will furnish to the Administrative Agent and each Lender:
(a)within 120 days after the end of each Financial Year of the Borrower, its audited consolidated and audited unconsolidated financial statements for that Financial Year;

(b)within 90 days after the end of each of the first three Financial Quarters of each Financial Year of the Borrower, its unaudited consolidated  financial  statements as of the  end of and for such Financial Quarter;

(c)concurrently with the delivery of financial statements under (i) clause (a) or
(b)above, a certificate of a Financial  Officer of the  Borrower (each, a "Compliance Certificate"), in the form of Exhibit B setting forth the Total Net Leverage Ratio, indicating whether  more than thirty five percent (35%) of the Facility was drawn at the end of the relevant period  as of  the last day of each quarter and certifying that the financial statements delivered fairly  represent  the financial condition of the Borrower and its Restricted Subsidiaries as of the relevant period; and
(ii) clause (a) above, unless an ESG Termination Event shall have occurred, an ESG Reporting Certificate with respect to the Financial Year covered by such financial statements  commencing with Financial Year 2021; provided, that any failure or delay of the Borrower in delivering an ESG Reporting Certificate when required under this clause  (c)(ii)  shall  not constitute  a Default or Event of Default.

(i)promptly after the same becomes available, but in any event within 90 days after the end of  each Financial Quarter, the  aggregate amount upstreamed by  Restricted Subsidiaries of the Borrower on a country by country basis (for the countries where any Restricted Subsidiary of the Borrower is operating);
(ii)promptly after the same become  publicly  available,  copies  of  al  periodic and other reports distributed by the Borrower to its shareholders generally, as the case may be; and

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i.promptly following any request therefor,  such other  information  (which  is not of a confidential nature or publicly available), as the Administrative Agent  or  any  Lender (through the Administrative Agent) may reasonably request (x) as necessary to (i) determine compliance with the terms of this Agreement, (ii) respond or comply with a regulatory request or submission or for audit purposes;  (iii)  comply  with applicable  KYC Requirements;  provided that, the Borrower shall  not  be  required  to deliver  confidential  information consisting  of  trade secrets or other proprietary or competitively sensitive information relating to the Borrower or any of its Restricted Subsidiaries and their respective businesses, and provided, further, that no Lender shall request any further information regarding the financial statements of any Obligor unless (A) such Obligor has not delivered its financial statements as required  under  the  Credit  Agreement  as of such date or (B) such request relates to a material variance from the financial statements delivered  in the previous Financial Quarter or Financial Year, as applicable, or (y) regarding the Group's performance in relation to the ESG Targets as reported in the most recently  delivered  ESG Reporting Certificate at such time (for the purposes of this subclause (y), "Group"  has the meaning set forth in Schedule II with respect to each ESG Target); provided that, the Borrower shall not be required to furnish any information under this clause (y)  to  the  extent  such  information  was included and is publicly available in the Borrower's annual report for the Financial  Year for which such most recent ESG Reporting Certificate was delivered.

ii.Any financial statements required to be delivered pursuant  to Section  5.01(a) or 5.01(b) above and any information required to be delivered pursuant to Section 5.01(d) above shall be deemed to have been furnished to the Administrative Agent on the date that such financial statement or other information is posted on the website of the Borrower.
Section 5.02 Notices of Material Events. The Borrower will furnish to the Administra tive Agent (for distribution to each Lender) prompt written notice, after an Authorized Officer of the Borrower becomes aware of such event, of the following events:
(a)the occurrence of any Default or Event of Default (and any steps being taken to remedy such Default or Event of Default);

(b)the filing or commencement  of any action, suit, investigation  or proceeding by or before any arbitrator or Governmental Authority against or affecting any Obligor or any Significant Subsidiary (or any adverse change or development  in  any  such  action,   suit, investigation or proceeding) thereof that, in the good faith judgment of the Borrower, if adversely determined, would reasonably be expected to result in a Material Adverse Effect;
(c)any other development (including the incurrence or  imposition of Environmental Liability) that, in the good faith judgment of the Borrower, results in, or would reasonably be expected to result in, a Material Adverse Effect; or

(d)the occurrence of an ESG Termination Event. Section 5.03    Existence; Conduct of Business; Authorizations.
(a)Each Loan Party shall do or cause to be done all things necessary to  preserve, renew and keep in full force and effect its legal existence.

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a.Each Loan Party shall ensure that no substantial change is made to the general nature of its  business  or the  business  of the  Significant Subsidiaries  from that  carried out as of the date of this Agreement, provided that, the foregoing shall not  prevent  any such Person from engaging in any Related Business.
b.Each Loan Party shall promptly (x) obtain, comply with and do all that is necessary to maintain in full force and effect; and (y) supply certified copies to the Administra tive Agent of, any authorization,  approval,  consent, license,  resolution, exemption,  filing,  notarization or registration  required  under any law  or regulation  of its  jurisdiction  of organization to enable  it   to perform its obligations under  the  Loan Documents  to which  it  is  a party and to ensure, subject to the reservations specifically referred to in any legal opinion  delivered  pursuant  to Section  4.01, the legality,  validity,  enforceability  or  admissibility  in  evidence  in  its  jurisdiction  of  organization of each Loan Document to which it is a party.
Section 5.04 Payment of Material Obligations.  Each  Loan  Party  shall   duly  and punctually pay and discharge all material payment obligations and Taxes imposed upon  it  or  its assets within the time period allowed without incurring penalties, except where (a) the validity or amount thereof is being contested in good faith  by  appropriate  proceedings,  and (b)  such Person has set aside on its books adequate reserves with respect thereto in accordance with IFRS.

Section 5.05    Maintenance of Properties; Insurance.

(a)Except for the discontinuance of the  operation  or maintenance  of the properties of any Loan Party or any Significant Subsidiary if such discontinuance is, in the Person's judgment, desirable in the conduct of its business, each Loan Party shall (and the Borrower shall ensure that each Significant Subsidiary shall) maintain in good repair, working order and condition (ordinary wear and tear excepted) all of its material properties necessary or desirable in the  conduct of its business, all in accordance with the judgment of each such Person (acting reasonably).

(b)Each Loan Party shall (and the Borrower shall ensure that each Significant Subsidiary shall): (1) preserve and maintain the subsistence and validity of the Intellectual Property reasonably necessary for the business of such Person ("Material Intellectual Property"); (2) use reasonable endeavors to prevent any infringement in any material respect of  the  Material Intellectual Property; (3) make registrations, pay all registration fees and taxes, and take all other actions reasonably necessary to preserve and maintain the Material  Intellectual  Property in  full force and effect and record its interest in that Material Intellectual Property; (4) not use or permit  the Material Intellectual Property to be used in a way or take any step or omit to take any step in respect of that Material Intellectual  Property which may materially and adversely affect the existence or value of the Material Intellectual Property or imperil  the  right  of  any such Person to use such property; and (5) not discontinue the use of the Material  Intellectual  Property, where failure to do so, in the case of paragraphs (1), (2) and (3) above, or, in the case of  paragraphs (4)  and (5) above, such use, permission to use, omission or discontinuation, would reasonably  be expected to result in a Material Adverse Effect.

(c)Each Loan Party shall (and the Borrower shall ensure that each Signific ant Subsidiary shall) maintain insurance on, and in relation to,  its properties with  reputable

0010146-0000535 NYO1: 2000703970                                     .104

underwriters or insurance companies against those risks and to the extent as is usual for companies carrying on the same or substantially similar business.

Section 5.06 Books and Records; Inspection Rights. Each Loan Party shall (and the Borrower shall ensure that each Significant Subsidiary shall) maintain proper books of record and account in which full, true and correct entries  are made of all dealings  and transactions  in  relation to its business and activities. Each Loan Party shall permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to  visit  and  inspect   its properties, to examine its books  and records, and to discuss  its affairs, finances and condition  with its officers; provided, however that, unless an Event of Default has occurred and is continuing, the Administrative Agent and the Lenders shall be limited to one such visit or inspection  in  each Financial Year and (i) such visit or inspection shall be at the sole cost and expense of the Administrative Agent or applicable Lenders (except that the Administrative Agent may make one such visit during each Financial Year and the reasonable  cost and expense thereof  shall  be borne  by the Obligors) and (ii) the Loan Parties shall have received reasonable advance notice thereof.
Section 5.07    Compliance with Laws.

(a)Each Loan Party shall (and the Borrower shall ensure that each Significant Subsidiary shall) comply with all Laws to which it may be subject, if the failure to do so would materially impair any Loan Party's ability to perform its obligations under the Loan Documents.

(b)Each Loan Party shall (and the Borrower shall ensure that each of its Subsidiaries shall) comply with all Sanctions Laws, Anti-Corruption Laws and Anti-Money Laundering Laws.
(c)The Loan Parties shall  maintain in effect and enforce policies and procedures designed to ensure compliance by the Loan Parties, their Subsidiaries, and each of their respective directors, officers, employees, agents, and representatives with Sanctions Laws and Anti-Money Laundering Laws.
Section 5.08    Environmental Compliance.

Each Loan Party shall (and the Borrower shall ensure that each Significant Subsidiary  shall) comply with all Environmental Laws, including by obtaining and maintaining any applicable environmental permits, licenses, or  authorizations, except where failure to do so  would not reasonably be expected to result in a Material Adverse Effect.
Section 5.09    Legal Fees.

No later than thirty (30) days following the Closing Date, the Borrower shall pay  or reimburse or cause to be paid or reimbursed, all legal fees and expenses incurred by the Mandated Lead Arrangers, the ESG Coordinator, the Lenders or the Administrative Agent required to be reimbursed or paid by the Obligors hereunder in connection  with  the  Facility,  provided that, invoices for any such fees and expenses shall have been delivered to the Borrower at least five (5) Business Days prior to the Closing Date (otherwise such invoices fees and  expenses  shall  be payable no later than thirty (30) days following delivery of such invoice).

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Section 5.10    Pari Passu Ranking
Each Loan Party shall ensure that at all times  any unsecured and unsubordinated  claims  of a Credit Party against it under the  Loan Documents  rank at least pari passu with  the claims  of  all its other unsecured and unsubordinated creditors  except those  creditors whose claims are mandatorily preferred by laws of general application to companies.
Section 5.11    Centre of Main Interest and  Establishment.
For the purposes of the Recast Regulation, the Borrower's centre of main interest (as that terms is used in  Article  3(1) of the  Recast Regulation)  is  situated  in  either Luxembourg,  Sweden or England and Wales, or for purposes of the CBIR, the Borrower's centre of main interest (as that term is used in Article 2 (Definitions) of the CBIR)  is  situated  in  the  United  States of  America, and the Borrower shall have no "establishment" (as that term is defined in Article  2(10)  of  the Recast Regulation or Article 2 of the CBIR) in any other jurisdiction.
ARTICLE VI NEGATIVE COVENANTS
Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees and other Obligations payable hereunder have been paid in full and all Letters of Credit have expired  or  terminated,  in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, each Loan Party (as applicable) covenants and agrees with the Lenders as follows:
Section 6.01 Fundamental  Changes,  Asset Dispositions.  No Loan  Party shall,  nor  shall the Borrower permit any Restricted Subsidiary to, (i) wind up, liquidate or dissolve its affairs,  or merge or consolidate with or into any other Person, other than Permitted Reorganizations; or (ii) engage in any Asset Disposition, other than a Permitted Disposal.
Section 6.02 Liens. No Loan Party shall, nor shall the Borrower permit any Restricted Subsidiary to, create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets of any kind of such Person whether now owned or hereafter acquired, other than Permitted Liens.

Section 6.03    Incurrence of Debt.
(a)No Loan Party shall, and the Borrower shall not permit any Restricted Subsidiary to, directly or indirectly, incur any Debt; provided that, any Loan Party and any Restricted Subsidiary may incur Debt if at the time of  such incurrence  after giving  effect thereto and to the application of the proceeds thereof, the Total Net Leverage Ratio is less than 3.00:1.00 (the "Debt Incurrence Test").
(b)Notwithstanding the limitation in Section 6.03(a), Permitted Debt may be
incurred.
Section 6.04    Financial Covenant.

0010146-0000535 NYO1: 2000703970                                     .106

(a)Total Net Leverage Ratio. Subject to Section 6.04(b), the Borrower will not permit the Total Net Leverage Ratio to exceed 3.50:1.00 as of the last day of any Financial Quarter if, as of such date, the sum of the outstanding Revolving Loans and LC Disbursements exceeds thirty-five percent (35%) of the Commitments then in effect.
(b)Step-Up Option. Upon the consummation of a Qualified  Acquisition  and  until the completion of  the fourth (4th)  consecutive  full  Financial  Quarter ending  after the closing of such Qualified Acquisition (the "Increase Period"), at the Borrower's option (with prior written notice to the Administrative Agent), the maximum Total Net Leverage Ratio permitted  under Section 6.04(a) shall  be temporarily increased to 4.00:1.00 to accommodate permitted  Debt associated with such Qualified Acquisition (the "Step-Up Option"); provided that, (i) Increase Periods may not be successive unless the Financial Covenant would have been complied with (calculated without regard to the utilization "trigger" contemplated by Section  6.04(a)) for at least two (2) consecutive Financial Quarters without giving effect to a Step-Up  Option  and  (ii)  there  shall be a maximum of two (2) Increase Periods in the aggregate during the term of the Facility.

Section 6.05 Transactions with  Affiliates.  No Loan Party shall  (and  the  Borrower shall not permit any Restricted Subsidiary to) enter into any transaction with any Affiliate of such Person except on arm's length terms and for Fair Market Value  other than  (i)  loans  among  members  of  the Restricted Group; (ii) any Permitted Reorganization  to the extent that it  only  involves  members of the Restricted Group; or (iii) fees, costs and expenses payable under the Loan Documents.

Section 6.06    Use of Proceeds; Sanctions Laws; Anti-Money Laundering Laws.
(a)The Borrower shall not use the proceeds of the Facility or of any Letter of Credit for any purpose other than for financing the working capital and for general  corporate purposes of the Borrower and its Restricted Subsidiaries (which shall permit, for the avoidance of doubt (and without limitation), any Investment, acquisition,  license,   capital  expenditure  and payment of dividends, in each case to the extent permitted hereunder).
(b)No Loan Party shall, directly or indirectly, use  the  proceeds of  the  Loans, or lend, contribute or otherwise make available such proceeds to any Subsidiary, Joint Venture  partner or other Person or entity (i) to fund any activities or business of or with any Designated Person, or in any Sanctioned Country or that would otherwise result in a violation of any Sanctions Laws by any party to the Loan Documents or (ii) in any other manner that  would result  in  a violation of any Sanctions Laws or any Anti-Money Laundering Laws by any party to the Loan Documents, or that could reasonably be expected to cause any party to the Loan Documents to become a Designated Person.
(c)No Loan Party shall use funds or assets obtained from transactions with or relating to Designated Persons or Sanctioned Countries or otherwise obtained in violation of any Sanctions Laws to pay any amount due pursuant to the Loan Documents.
Section 6.07 Restricted Payments;  Use of  Proceeds for  Dividends The  Borrower  shall not (a) pay, make or declare any dividend or other distribution to all or any of its shareholders if
(i)an Event of Default has occurred and is continuing and (ii) any Borrowing  is outstanding  under  the Facility, or (b) borrow or use the proceeds of the Facility to make or declare any dividend or

0010146-0000535 NYO1: 2000703970                                     .107

other distribution to all or any of its  equityholders  if  at such time  the  Total Net Leverage Ratio is, or would be after giving pro forma effect to such Borrowing and the payment of such dividend or distribution, greater than 3.50:1.00.

Section 6.08    Anti-Corruption Law.
1.No Loan Party shall (and the  Borrower shall  ensure that none of its Subsidiaries shall) directly or indirectly  use the proceeds of the Facility  for any Prohibited  Payment or for any purpose which would breach any Anti-Corruption Law.

2.The Loan Parties shall  maintain in effect and enforce policies and procedures designed to ensure compliance by the Loan Parties, their Subsidiaries, and each of their respective directors, officers, employees, agents, and representatives with Anti-Corruption Laws.

Section 6.09    Unrestricted Subsidiaries.

(a)The Borrower may, by delivery of a certificate executed by an Authorized Officer of the Borrower to the Administrative Agent, designate, after the Closing Date,  any Subsidiary of the  Borrower (including any newly  created or  acquired Subsidiary) as an "Unrestricted Subsidiary" if, at the time  of or after giving  effect to such designation:  (1) no Default or Event of Default shall exist; (2) the Borrower could incur $1.00 of Debt pursuant to the Debt Incurrence Test; and (3) the aggregate amount of Investments  (other than Permitted  Investments) by the Borrower and its Restricted  Subsidiaries in  all  Unrestricted Subsidiaries  shall  not  exceed the greater of (x) $950,000,000 or (y) 10% of Total Assets at any time outstanding.

(b)No Loan Party shall (nor  shall  the  Borrower permit any Restricted Subsidiary to) at any time: (1) provide credit support for, subject any of its property or assets (other than Liens over the Capital Stock, Debt and other securities  of any  Unrestricted  Subsidiary securing Debt of that Unrestricted Subsidiary and its Subsidiaries) to the satisfaction  of,  or guarantee, any Debt of any Unrestricted Subsidiary (including any undertaking, agreement or instrument evidencing such Debt); (2) be directly or indirectly liable for any Debt of  any  Unrestricted Subsidiary; (3) be directly or indirectly liable for any Debt which  provides  that the holder thereof may (upon notice, lapse of time or both) declare a default thereon or  cause the payment thereof to be accelerated or payable prior to its final scheduled maturity upon  the occurrence of a default with respect to any Debt of any Unrestricted Subsidiary; or (4) make any Investment (other than a Permitted Investment) in any Unrestricted Subsidiary to the extent such Investment, together with the  aggregate Investments in all Unrestricted  Subsidiaries  then outstanding, exceeds the amount set out in Section 6.10(a).
(c)The Borrower may re-designate an Unrestricted Subsidiary as a Restricted Subsidiary (a "Re-designation") only if all Liens and Debt of such Unrestricted Subsidiary outstanding immediately following such Re-designation if incurred at such time would have been permitted to be incurred for all purposes of this Agreement.

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ARTICLE VII EVENTS OF DEFAULT
Section 7.01    Events of Default.
If any of the following events ("Events of Default") shall occur:

(a)any Obligor shall fail  to pay any principal of  any Loan or  any reimbursement obligation in respect of any LC Disbursement when and as the  same shall  become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;

(b)any Obligor shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of this Article VII) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days;
(c)any representation or warranty made or deemed made by or  on  behalf  of any Loan Party in or in connection with any Loan Document shall prove to have been incorrect in any material respect when made  or deemed made; provided that, if any such incorrect representation or warranty is capable of being remedied, it shall  not  be  an  "Event  of  Default" unless such representation or warranty continues unremedied for a period of thirty (30) days following of the earlier of (i) the Administrative Agent giving notice to the Borrower thereof and
i.a member of the executive committee or a senior member of the treasury department of the Borrower having knowledge thereof;

(d)any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.03(a) or Article VI;

(e)any Obligor shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article VII), and such failure shall continue unremedied  for  a period  of thirty  (30) days  following of the earlier of (i) the Administrative Agent giving notice to the  Borrower  thereof  and (ii)  a member of the executive committee or a senior member of the treasury department of the Borrower having knowledge thereof;

(f)any Loan Party or any Restricted Subsidiary shall default in the payment of any Debt when due (after giving effect to any applicable grace period) in an outstanding principal amount equal to or exceeding $100,000,000;
(g)any event or condition occurs that results in any Debt of any Loan Party or any Restricted Subsidiary in an outstanding principal amount equal to or exceeding $100,000,0 00 becoming due prior to its scheduled maturity;

(h)an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or other  relief  in  respect of  any Loan Party or any Restricted Subsidiary or its debts, or of a substantial part of its assets, under any Debtor Relief

0010146-0000535 NYO1: 2000703970                                     .109

Law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any Loan Party or any Restricted Subsidiary or for a substantial part of any such Person's assets, unless such proceeding is discharged, stayed or dismissed within sixty (60) days of the commencement thereof;
a.any Loan Party or any Restricted Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other  relief  under  any Debtor Relief  Law now or  hereafter in  effect, (ii)  consent  to the institution of, or  fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this  Article  VII, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for such Person or for a substantial part of its  assets, (iv) file  an answer admitting the material  allegations  of a petition  filed  against  it  in  any proceeding  described in clause (h) of this Article, (v) make a general assignment for the benefit  of creditors  or  (vi)  take any action for the purpose of effecting any of the foregoing, except, with respect to any Restricted Subsidiary, in the context of, or in connection with, any Permitted Reorganization;

b.any Loan Party or any Restricted Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;
c.any attachment, sequestration, distress or execution  affects any asset or assets of a Loan Party having a value in excess of  $100,000,000 and such attachment,  sequestration, distress or execution is not discharged within sixty (60) days or, where the Borrower reasonably believes such action is frivolous, vexatious or without merit, and  is  challenging  such action in good faith, such action is not discharged within 180 days.
d.any Loan Party shall fail within sixty (60) days to pay, bond or otherwise discharge any judgments or orders for the payment of money (not covered by insurance as to which the insurer has been notified of such judgment or order and does not dispute  payment)  which  have not been stayed on appeal or otherwise appropriately contested in good faith in an amount which, when added to all other such judgments or orders outstanding against any Loan Party would exceed
$100,000,000;

e.any Loan Party shall disavow, revoke or terminate (or attempt to terminate), in each case in writing, any Loan Document to which it is a party or shall otherwise challenge or contest in any action, suit or proceeding in any court or before any Governmental Authority  the validity or enforceability of any Loan Document; or any Loan Document shall cease to be in full force and effect (except as a result of the express terms hereof or thereof);
f.a Change of Control shall occur;

g.any Obligor, other than the Borrower, shall cease to be (i) to the extent such Obligor was designated as an Obligor with the consent of Lenders having Credit Exposures and unused Commitments representing at least 75% of the sum of the  total  Credit  Exposures  and unused Commitments at such time, pursuant  to Section  2.21(c)(i),  a wholly-owned  Subsidiary  of the Borrower or (ii)  to the  extent such Obligor  was designated  as an Obligor  with  the consent  of all Lenders, pursuant to Section 2.21(c)(i), a Subsidiary of the Borrower;

0010146-0000535 NYO1: 2000703970                                     .110

a.if, in any applicable jurisdiction, it  becomes unlawful  for the Borrower  or  the Guarantor to perform any of its obligations under the Loan Documents;

b.an Obligor repudiates a Loan Document or  evidences an intention to repudiate a Loan Document; or
c.the authority or ability of any Loan Party or any other member of the Restricted Group to conduct its business is limited or  wholly  or  substantially  curtailed  by  any seizure, expropriation, nationalization, intervention,  restriction  or  other action  by  or on  behalf  of any governmental, regulatory or other authority or other person in relation to any member of the Restricted Group or any of its assets, where such action has resulted in, or would reasonably be expected to result in, a Material Adverse Effect;

then, and in every such event (other than an event with respect to an Obligor described in clause
(h)or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to  the Obligors, take either or both of  the following  actions,  at the same or different  times:  (i)  terminate the Commitments, and thereupon  the Commitments shall  terminate  immediately,  and (ii)  declare the Loans then outstanding to be due and payable in whole (or  in  part, in  which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with  accrued  interest thereon and all fees and other obligations of the Obligors accrued hereunder, shall become due and payable immediately, without  presentment,  demand,  protest  or other  notice  of  any kind, all of which are hereby waived by the Obligors; and in case of any event with respect to an Obligor described in clause (h) or  (i)  of  this  Article,  the Commitments shall  automatically  terminate  and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Obligors accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other  notice  of  any kind,  all of which  are hereby waived by the Obligors.

Section 7.02 Distribution  of Payments after Event of Default.  In the event that following the occurrence and during the continuance of any Event of  Default,  the  Administrative Agent  or any Lender, as the case may be, receives any monies in connection  with  the  enforcement of  any the Loan Documents, such monies shall be distributed for application as follows:
(i)First, to the payment of, or (as the case may be) the reimbursement of the Administrative Agent for or in respect of, all reasonable fees, costs, expenses, disbursements and losses which shall have been incurred or sustained by the Administrative Agent in  connection  with the Facility or the Loan Documents or any transactions contemplated thereby, in each case, to the extent reimbursable or indemnifiable pursuant to the Loan Documents;

(ii)Second, to pay any fees, expense reimbursements, indemnities and other amounts (other than principal, reimbursement obligations in  respect of LC Disbursements,  interest and Letter of Credit fees) then due to the Lenders from the Obligors, ratably among them in proportion to the respective amounts described in this clause (b) payable to them;

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i.Third, to pay interest then due and payable on the Loans and unreimbursed LC Disbursements ratably among the Lenders and the Issuing Banks in proportion to the respective amounts described in this clause (c) payable to them;

ii.Fourth, (i) to prepay principal on the  Loans and unreimbursed LC Disbursements ratably and (ii) to cash collateralize that portion of LC Exposure comprising the undrawn amount of Letters of Credit  to the extent not otherwise cash collateralized  by  the Borrower pursuant to Section 2.06 or 2.20, ratably among the Lenders and the Issuing Banks in proportion to the respective amounts described in this clause (d) payable to them; provided that
(x) any such amounts applied pursuant to subclause (ii) above shall be paid to the Administra tive Agent for the ratable account of the applicable Issuing Banks to cash collateralize Obligations in respect of Letters of Credit, (y) subject to Section 2.06 or  2.20, amounts  used to cash collateralize the aggregate amount of Letters of Credit pursuant to this clause (d) shall be  used  to  satisfy drawings under such Letters of Credit as they occur and (z) upon the expiration of any Letter of Credit (without any pending drawings), the pro rata share of cash collateral shall be applied in accordance with this Section 7.02;

iii.Fifth, to the payment in full of all other Obligations, in each case ratably among the Administrative Agent, the Lenders and the Issuing Banks based upon the respective aggregate amounts of all such Obligations owing to them in  accordance  with  the  respective amounts thereof then due and payable; and

iv.Sixth, the balance, if any, after all of the Obligations  have  been paid in  full, to the Borrower or as otherwise required by Law.

If any amount remains on deposit as cash collateral after all Letters of Credit have  either been fully drawn or expired (without any pending drawings), such remaining  amount  shall  be  applied in the order set forth above.

ARTICLE VIII

THE ADMINISTRATIVE AGENT

Each of the Lenders and the Issuing Banks hereby irrevocably appoints the Administra tive Agent as its agent hereunder and under  the other Loan Documents and authorizes  the Administrative Agent to take such actions on its behalf and to exercise such powers  as  are delegated to the Administrative Agent by the terms hereof or thereof, together  with  such actions and powers as are reasonably incidental thereto. It is understood and agreed that the use of the term "agent" herein or in any other Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.
The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the  same  as though  it were not the Administrative Agent, and the term "Lender" or "Lenders" shall, unless otherwise expressly indicated or unless the context otherwise requires, include the bank serving  as the

0010146-0000535 NYO1: 2000703970                                     .112

Administrative Agent hereunder in its individual capacity. Such bank and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of business with, the Obligors or any Subsidiary  or other Affiliate thereof as if it  were not  the  Administrative Agent  hereunder  and without  any duty to account therefor to the Lenders.
The Administrative Agent shall not  have  any duties  or obligations  except  those expressly set forth herein and in the other Loan Documents,  and its duties  hereunder shall  be administra tive in nature. Without  limiting  the  generality  of the foregoing,  (a) the Administrative Agent  shall  not  be subject to any fiduciary or other implied duties, regardless of whether a Default or Event  of Default has occurred and is continuing, (b) the Administrative Agent shall  not  have  any duty  to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise in writing  as directed by the Required  Lenders (or such other number or percentage of the Lenders as shall  be necessary under  the circumstances  as  provided  in Section 10.02 or in  the other  Loan Documents); provided  that the  Administrative  Agent shall  not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative   Agent to liability   or that is  contrary to any Loan Document  or applicable  Law, and
(c) except as expressly  set forth herein and in  the other Loan Documents,  the Administrative Agent
shall not have any duty to disclose, and shall not be liable for  the  failure   to  disclose,  any information relating to the  Obligors  or  any  Subsidiaries  that is  communicated  to or  obtained  by the bank serving  as the Administrative Agent or any of  its Affiliates in any capacity. The Administrative Agent shall not  be liable  for any action taken or not taken by it  (i) with  the consent  or at the request of the Required Lenders (or such other number or percentage of the  Lenders as  shall be necessary under the circumstances as provided in Section 10.02), or as the Administra tive Agent shall believe in good faith shall be necessary, or (ii) in the absence  of  its  own  gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and non-appealable judgment. The Administrative  Agent shall  be deemed  not  to have  knowledge  of any Default or  Event of  Default unless and until written notice thereof  is  given  to  the Administrative Agent by the Borrower, an Issuing Bank or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire  into  (i) any statement, warranty  or  representation  made  in  or  in  connection  with  this  Agreement  or  any other  Loan Documents,
(ii) the contents of any certificate,  report or other  document  delivered  hereunder  or thereunder  or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein  or the occurrence of any Default or Event of  Default, (iv) the  validity, enforceability, effectiveness or  genuineness  of  this Agreement, any other Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other  than  to  confirm receipt of items expressly required to be delivered to the Administrative Agent.
The Administrative Agent shall not be responsible  or have  any liability  for, or have  any  duty  to ascertain, inquire  into,  monitor  or enforce, compliance  with  the  provisions  hereof relating to Defaulting Lenders. Without limiting the generality  of the foregoing,  the Administrative Agent  shall not (i)  be  obligated  to ascertain, monitor  or  inquire  as to whether any Lender or  Participant or prospective Lender or Participant  is  a Defaulting  Lender or  (ii)  have  any liability  with  respect to or arising out of any assignment or participation of Loans, or disclosure of confidential

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information, to any Defaulting Lender (except for the Administrative Agent's compliance with its
own confidentiality obligations hereunder).

The Administrative Agent shall be entitled  to rely  upon,  and  shall  not  incur  any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or  intranet  website  posting  or   other distribution) believed by it  to be genuine  and to have been signed,  sent or otherwise  authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it  orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.  In  determining  compliance  with  any  condition  hereunder  to  the making of a Loan, or the issuance, extension, increase, reinstatement or renewal of a Letter  of  Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank, the Administrative Agent may presume that such condition is satisfactory to such Lender or  Issuing Bank unless the Administrative Agent shall have received notice  to the contrary from such Lender or Issuing Bank prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Obligors), independent accountants and other experts selected by it, and shall not  be  liable  for  any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection  with  the  syndication  of  the  credit  facilities provided for herein as well  as activities  as Administrative Agent. The Administrative  Agent  shall not be responsible for the negligence or misconduct of any sub-agents except to the  extent that a court of  competent jurisdiction determines in a final and nonappealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.
The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Banks and the Borrower. Upon receipt of any such notice of resignation, the Require d Lenders shall have the right, with the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed)  (unless  an Event  of  Default has occurred and  is  continuing  at the time of such appointment in  which case only  consultation  with the Borrower shall  be required), to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the "Resignation Effective Date"), then the retiring Administrative Agent may (but shall not  be obligated to), on behalf of the Lenders and the Issuing Banks, appoint a successor Administra tive Agent which shall be a bank with an office in New York, New York, or an Affiliate of  any such bank (which appointment shall be made with the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed) (unless an Event of Default has occurred and is continuing at the time of such appointment in  which case only  consultation  with the Borrower shall be required); provided that in no event shall  any such successor Administrative Agent be a

0010146-0000535 NYO1: 2000703970                                     .114

Defaulting Lender. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause  (d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable Law, by notice in writing to the Borrower and such Person remove  such Person as Administrative  Agent and, with the consent of the Borrower (such consent not to be  unreasonably  withheld,  conditioned or delayed) (unless  an Event of Default has occurred and is continuing at the time of such appointment in which case only consultation with the Borrower shall be required),  appoint  a successor. If no such successor shall have been so appointed by the Required Lenders  and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the "Removal Effective Date"), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.
With effect from the Resignation Effective Date or the Removal Effective Date (as applicable), (i) the retiring or removed  Administrative Agent  shall  be  discharged  from its  duties and obligations hereunder and under the other Loan Documents and (ii) except for any indemnity payments owed to the retiring or removed Administrative Agent,  all  payments,  communications and determinations provided  to be made  by,  to or through  the Administrative  Agent  shall  instead be made by or to each Lender and Issuing Bank directly, until such time, if any, as the Require d Lenders appoint  a successor Administrative  Agent as provided   for above. Upon the acceptance of  a successor's appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring  or removed Administrative Agent (other than any rights to indemnity  payments  owed  to  the  retiring  or removed Administrative Agent), and the retiring or removed Administrative Agent shall  be discharged from all of its duties and obligations  hereunder  or under  the  other Loan  Documents.  The fees payable by the Obligors to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring or removed Administrative Agent's resignation or removal hereunder and  under  the  other Loan Documents, the provisions of this Article and Section  10.03 shall  continue  in  effect for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while  the retiring or removed Administrative Agent was acting as Administrative Agent.

Each Lender acknowledges and agrees that the extensions of credit made here under are commercial loans and letters of credit and not investments in  a business  enterprise  or  securities. Each Lender further represents that it is engaged in making,  acquiring  or holding  commercial loans in the ordinary course of its business and acknowledges that it has, independently and  without reliance upon the Administrative Agent or any other Lender or any of their  Related  Parties and based on such documents and information as it has deemed appropriate,  made its  own  credit analysis and decision to enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder. Each Lender and Issuing Bank also acknowledges  that  it  will,  independently  and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents  and information (which  may contain  material,  non-public information within the meaning of the United States securities  laws  concerning  the  Obligors  and their Affiliates) as it shall  from time  to time  deem appropriate,  continue  to make its  own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or

0010146-0000535 NYO1: 2000703970                                     .115

any related agreement or any document furnished hereunder or thereunder and in deciding whether or to the extent to which it will continue as a lender or assign or  otherwise  transfer its  rights, interests and obligations hereunder.

In case of the pendency of any proceeding under any Debtor Relief Law or  any  other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or Letter of Credit shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of  whether  the  Administrative Agent  shall  have  made any demand on the Borrower) shall be entitled and empowered (but not  obligated)  by intervention  in such proceeding or otherwise: (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, Letter of Credit  and all  other  Obligat ions that are owing and unpaid and to file such other documents as may be necessary or advisable  in  order to have the claims of the Lenders, the Issuing Banks and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing Banks and the Administrative Agent and their respective agents and counsel and all  other amounts due the Lenders, the Issuing Banks and the Administrative Agent under Section
c.allowed in such judicial proceeding; and (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and Issuing Bank to make such payments to the Administrative Agent and, in  the event  that the Administrative  Agent shall  consent to the making of such payments directly to the Lenders and the Issuing Banks, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administra tive Agent under Section 10.03.
Anything herein to the contrary notwithstanding, none of the  Mandated Lead Arrangers or the Documentation Agent listed on the cover page hereof, or any other  Person given  a similar  title on Schedule 1 hereof, shall have any powers, duties  or responsibilities  under  this  Agreement  or  any of the other Loan Documents, except in its capacity,  as applicable,  as the  Administra tive Agent, a Lender or an Issuing Bank hereunder.
The ESG Coordinator will not be liable for any action  taken by it  under  or  in  connection with any Loan Document, unless directly caused by its gross negligence or willful misconduct (as determined by a court of competent jurisdiction by final and non-appealable judgment). No party hereto may initiate or pursue any proceedings against any director, officer, employee, agent, or representative of the ESG Coordinator in respect of any claim against the ESG Coordinator or in respect of any act or omission of  any kind by  that director,  officer, employee, agent, or representative in relation to any Loan Document, and any director, officer, employee, agent, or representative of the ESG Coordinator may rely on this paragraph. The ESG Coordinator  shall  not act for nor represent the Credit Parties and each Credit Party shall be solely responsible at all times for making its own independent appraisal of and analysis in relation to any sustainable or "ESG" aspects or performance of the Borrower and its Affiliates or with respect to the Facility or this Agreement.

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ARTICLE IX GUARANTY
Section 9.01 Guaranty by the Guarantor. The  Guarantor hereby unconditionally
guarantees for the benefit of the Credit Parties, all of the following (collectively, the "Guaranteed Obligations"): (a) all Loans and all other Obligations owing at any time by any Obligor  (other than the Borrower), and (b) all reimbursement obligations with  respect to  Letters of  Credit  issued  for the benefit of any Obligor or any Restricted Subsidiary (other than the Borrower) under this Agreement, and in all cases under subparts (a) or (b) above, whether now existing, or hereafter incurred or arising, including any such interest or other amounts incurred or arising during  the pendency of any bankruptcy,  insolvency, reorganization, receivership or  similar proceeding, regardless of whether allowed or allowable in such proceeding or subject  to an automatic  stay  under Section  362(a)  of the Bankruptcy Code. Upon failure by any Obligor (other than the Borrower) to pay punctually any of the Guaranteed Obligations, the Guarantor shall forthwith on demand by the Administrative Agent pay the amount not so paid at the place  and in  the  currency and otherwise in the manner specified in this Agreement or any other applicable agreement or instrument.
Section 9.02  Guaranty Unconditional.   The obligations   of the Guarantor under this Article IX shall be irrevocable, unconditional and absolute and, without limiting the generality of  the foregoing shall not be released, discharged or otherwise affected by the occurrence, one or more times, of any of the following:
i.any extension, renewal, settlement, compromise, waiver  or  release  in respect to the Guaranteed Obligations under any agreement or instrument, by operation of law or otherwise;

ii.any modification or amendment of or supplement to this  Agreement, any other Loan Document, or any agreement or instrument evidencing or relating to the Guaranteed Obligations;

iii.any release, non-perfection or invalidity of any  direct  or  indirect  security for the  Guaranteed Obligations  under  any agreement or  instrument  evidencing  or  relating  to any of the Guaranteed Obligations;

iv.any change in the corporate existence, structure or ownership of any Obligor (other than the  Borrower) or any insolvency, bankruptcy, reorganization or   other  similar proceeding affecting any Obligor (other than the Borrower) or its assets or any resulting release or discharge of any obligation  of any Obligor  (other than the  Borrower) contained  in  any agreement  or instrument evidencing or relating to any of the Guaranteed Obligations;

v.the existence of any claim, set-off or other rights which the Guarantor may have at any time against any Obligor (other than the Borrower), the Administrative Agent, any Lender, any Affiliate of any Lender or any other Person, whether in connection herewith or any unrelated transactions;

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i.any invalidity or unenforceability relating to or  against  any Obligor  (other than the Borrower) for any reason of any agreement or instrument evidencing or relating  to any of the Guaranteed Obligations, or any  provision of  applicable  Law  or  regulation  purporting  to  prohibit the payment by any Obligor of any of the Guaranteed Obligations, or any decree or order prohibiting any Obligor from paying, or releasing  or  discharging  the obligation  of any Obligor  to pay, any of the Guaranteed Obligations; or

ii.any other act or omission of any kind by any Obligor, the Administra tive Agent, any Lender or any other Person or any other circumstance whatsoever which might, but for the provisions of this Article, constitute a legal or equitable discharge of any Obligors' obligations under this Section, all of which the Guarantor hereby unconditionally waives to the fullest extent permitted by law, other than the payment  in  full  of all Guaranteed Obligations  (other than amounts in respect of indemnification, expense reimbursement, tax gross-up or contingent  obligations  in  each case that are owing and with respect to which no claim has been made).
Section 9.03 Waivers. The Guarantor unconditionally waives,  to  the  extent  permitted under any applicable Law now  or  hereafter in  effect, insofar  as its  obligations  under  this  Article IX are concerned, (a) notice of any of the matters referred to in Section 9.02, (b) all notices require d by statute, rule of law or otherwise to preserve any rights against  the Guarantor  hereunder, including, without limitation, any demand, presentment, proof or  notice  of  dishonor  or   non- payment of any of the Guaranteed Obligations, notice of  acceptance  of  the  provisions  of  this Article IX, notice of the  incurrence  of any of the Guaranteed Obligations,  notice  of any failure  on the part of any Obligor (other than the Borrower) or any other Person, to perform or comply  with any term or provision of this Agreement, any other Loan Document or any other agreement or instrument to which such Obligor or  any other  Person is  a party, or  notice  of  the commencement of any proceeding against any other Person or its any of its property or assets, (c) any right to the enforcement, assertion or exercise against any Obligor (other than the Borrower) or against  any other Person or any collateral of any right, power or remedy under or in respect of this Agreement, any other Loan Document or any other agreement or instrument, and (d) any requirement that any such Obligor be joined as a party to any proceedings against the  Guarantor  or any other Person for the enforcement of any term or provision of this Agreement, any other Loan Documents, the provisions of this Article IX or any other agreement or instrument.
Section 9.04 Guarantor Obligations to Remain in Effect; Restoration. The Guarantor's obligations under this Article shall  remain  in  full  force  and  effect until  the  Commitments  shall have terminated, and other Guaranteed Obligations, and all other amounts payable by the Obligors (other than the Borrower) under the Loan Documents or any other agreement or instrument evidencing or relating to any of the Guaranteed Obligations (other than amounts in respect of indemnification, expense reimbursement, tax gross-up or contingent obligations,  in  each case that are owing and with respect to which no claim has been made),  shall  have  been paid  in  full.  If at any time any payment of any of the Guaranteed Obligations is rescinded or must be otherwise  restored or returned upon the insolvency,  bankruptcy  or reorganization  of any Obligor  (other than the Borrower), the Guarantor's obligations under this Article  IX with respect to such payment  shall be reinstated at such time as though such payment had been due but not made at such time.
Section 9.05 Waiver of Acceptance, etc. The Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and any notice not provided for herein, as well as any

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requirement that at any time any action be taken by any Person against any other Obligor  or any other Person, or against any collateral or guaranty of any other Person.

Section 9.06 Subrogation. Until the payment in full of all of the Obligations (other than amounts in respect of indemnification, expense reimbursement, tax gross-up or  contingent obligations, in each case that are owing and with respect to which  no claim  has  been made)  and the termination of the  Commitments hereunder,  the Guarantor  shall  have  no  rights,  by operation of law or otherwise, upon making any payment under  this  section to be subrogated to the rights  of the payee against any other Obligor with respect to such payment or otherwise to be reimbursed, indemnified or exonerated by any such Obligor in respect thereof.
Section 9.07 Effect of Stay. In the event that acceleration of the time for payment of any amount payable by any Obligor under  any of the  Guaranteed  Obligations  is  stayed  upon insolvency, bankruptcy or reorganization of such Obligor, all such amounts otherwise subject to acceleration under the terms of any applicable agreement or instrument evidencing  or relating  to  any of the Guaranteed Obligations shall nonetheless be payable by the Guarantor under  this  Article IX forthwith on demand by the Administrative Agent.

ARTICLE X MISCELLANEOUS
Section 10.01 Notices. (a) Except in the case of notices  and other communicatio ns
expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and other communications provided for herein or in any other Loan Document shall be in  writing  and shall be delivered by hand or overnight courier service,  mailed  by certified  or  registered mail  or sent by electronic mail or by telecopy, as follows:

1.If to the Borrower, the  Guarantor, any other Obligor or  the Administrative Agent, to it at its address (or  electronic  mail  address or  telecopy  number) set forth on Schedule III; and

2.if to any other Lender, to it at its address (or electronic mail  address or telecopy number) set forth in its Administrative Questionnaire.
Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be  deemed to have been given  when sent (except that,  if  not given during normal business hours  for  the  recipient,  shall  be  deemed to  have been given  at the opening of business on the next Business Day for the recipient). Notices delivered through Electronic Systems, to the extent provided  in  paragraph  (b) below,  shall  be effective  as provided in said paragraph (b).

(b)Notices and other communications to the Lenders and the Issuing Banks hereunder may be delivered or furnished by using Electronic Systems pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to  notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the  applicable Lender. The Administrative Agent and each Loan Party may, in each of their respective discretion,

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agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it;  provided that approval of such procedures may be  limited to particular notices or communications.

Unless the Administrative Agent  otherwise  prescribes,  (i) notices  and  other communications sent to an e-mail address shall be  deemed received upon  the  sender's receipt  of an acknowledgement from the intended recipient (such as by the  "return receipt  requested" function, as available, return e-mail or  other written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website shall be deemed received  upon  the deemed receipt by the intended recipient, at its e-mail  address  as  described  in  the  foregoing clause (i), of notification that such  notice  or   communication  is  available  and  identifying  the website address therefor; provided that, for both clauses (i) and (ii) above, if such notice, electronic mail or other communication is not sent during the normal business hours  of the  recipient,  such  notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient.

a.Any party hereto may change its address, electronic mail address  or  telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt.
b.Electronic Systems.

i.Each Obligor agrees that the Administrative Agent  may,  but  shall not be obligated to, make Communications (as defined  below)  available  to  the  Issuing Banks and the other Lenders by posting the Communications on Debtdomain, Intralinks, Syndtrak, ClearPar or a substantially similar Electronic System (the "Platform").

ii.Any Electronic System used by the  Administrative  Agent  is provided "as is" and "as available." The  Agent Parties (as defined  below)  do  not  warrant the adequacy of such Electronic Systems and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for  a  particular purpose, non-infringement of third-party rights or freedom from viruses or other  code defects, is made by any Agent Party in connection with the Communications or any Electronic System. In no event shall the Administrative Agent or any of its Related Parties (collectively, the "Agent Parties") have any liability to any Loan Party, any Lender, any Issuing Bank or any other Person or entity for damages of any kind, including, without limitation, direct or indirect, special,  incidental or  consequential  damages, losses  or expenses (whether in tort, contract or otherwise) arising out of any Loan Party's or the Administrative Agent's transmission of communications through an Electronic System. "Communications" means, collectively, any notice, demand, communication, information , document or other material provided by or on behalf  of any Loan Party pursuant  to any  Loan Document or the transactions contemplated  therein which is distributed by the Administrative Agent, any Lender or any Issuing Bank by  means of electronic communications pursuant to this Section, including through an Electronic System.

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a.The Borrower hereby acknowledges that (1) the Administrative Agent, the Mandated Lead Arrangers or the ESG Coordinator will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, "Borrower Materials") by posting the Borrower Materials on the Platform and (2) certain of  the  Lenders (each, a "Public Lender") may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment  and other market-related activities  with  respect to such Persons' securities. The Borrower hereby agrees that it will, upon  the  Administra tive Agent's reasonable request, identify that portion of the Borrower Materials  that may be distributed  to the Public Lenders and that (w) all such Borrower Materials shall be clearly and conspicuously marked "PUBLIC" which, at a minimum, shall mean that the word "PUBLIC" shall appear prominently on  the first  page thereof; (x) by  marking Borrower Materials  "PUBLIC," the Borrower shall be deemed to have authorized the Administrative Agent, the Mandated Lead Arrangers and the Lenders to treat such Borrower Materials as not containing any material non- public  information (although  it  may be sensitive  and proprietary)  with  respect to the Borrower  or its respective Affiliates or Subsidiaries or its or their respective securities for purposes of United  States federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section  10.13);  (y)  all Borrower Materials marked "PUBLIC" are permitted  to  be  made  available through  a portion  of the Platform designated "Public Side Information"; and (z)   the   Administrative  Agent,  the Mandated Lead Arrangers and the ESG Coordinator shall be entitled to treat any  Borrower Materials that are not marked "PUBLIC" as being suitable only for posting on a portion of the Platform not designated "Public Side Information."

Section 10.02 Waivers; Amendments. (a) No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in exercising any right or power under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right  or power, or  any abandonment or discontinuance  of  steps to enforce such a right  or  power, preclude  any other  or further exercise thereof or the exercise of any other right or power. The  rights  and remedies  of the Administrative Agent, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies  that  they  would otherwise have. No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless such waiver or consent, as applicable, shall be permitted by paragraph (b) of this Section,  and  then such waiver  or consent shall be effective only in the specific instance and  for  the  purpose  for  which  given.  Without limiting the generality of the foregoing,  the  making  of a Loan or the issuance, amendment,  renewal or extension of a Letter of Credit shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent,  any Lender or  any Issuing  Bank may  have had notice or knowledge of such Default or Event of Default at the time. No waiver or consent by the Administrative Agent, the Lenders or any Issuing Bank, nor any notice or demand on the Borrower, in any case shall entitle the Borrower to any other or further waiver, consent, notice or demand in similar or other circumstances.

(b) Subject to Section 2.20(b), neither any Loan Document  nor  any provision thereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Obligors and the  Required  Lenders or by the Obligors and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement

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shall (a) change the required percentage set forth in the definition of "Required   Lenders";  (b) provide for an extension to the date of payment of  any amount  under  this  Agreement; (c) provide for an increase or a reduction in the Applicable Margin or an increase  or a reduction  in  the amount of any payment of principal, interest, fees or any other amount  payable  to any Lender (provided that, only the Required Lenders' consent shall be required to amend the rate charged pursuant to Section 2.13(c) or waive the obligation to pay interest at such rate, or amend any  Financial Covenant even if the effect is to reduce the rate of interest or the amount of any fee payable  under this Agreement); (d) change the currency of payment of any amount under this Agreement; (e) change or extend any Commitment under the Facility;  (f) substitute  or  release any Obligor  other than as permitted under this Agreement; (g) change Sections 2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby; (h) waive any condition set forth in Section 4.01, (i) change Section 10.09(a) in a manner that would alter the governing law of this Agreement,
(j)amend any provision of this Agreement that expressly requires the consent of all Lenders, and
(k)change the definition of  "Applicable  Percentage",  shall  be  made  without  also  obtaining  the prior consent of, in the case of (a), (f), (g), (h), (i) and (j), all  Lenders and, in  the  case of (b), (c), (d), (e) and (k), each directly and adversely affected Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, any Issuing Bank or the Swingline Lender hereunder without the prior written consent of the Administrative Agent, such Issuing Bank or the Swingline Lender, as the case may be.

(i)Notwithstanding anything herein to the contrary, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent that by its terms requires the consent of all the Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended, or the maturity of any of its Loan may not be extended, the rate of interest on any of its Loans may not be reduced and the principal amount of any of  its  Loans  may not be forgiven,  in each case without the consent of such Defaulting Lender and (y) any amendment, waiver  or  consent requiring the consent of all the Lenders or each affected Lender that by its  terms affects any Defaulting Lender more adversely than the other affected Lenders shall require the consent of such Defaulting Lender.

(ii)Notwithstanding anything herein to the contrary, if the   Administra tive Agent and the Borrower shall  have jointly  identified an obvious  error, ambiguity  omission,   defect or inconsistency or any error or omission of a formal,  minor,  operational  or technical  nature, in  each case, in any provision of the Loan Documents, then the Administrative Agent  and  the Borrower shall be permitted to amend such provision, and, in each case, such amendment shall become effective without any further action or consent of any other party to any Loan Docume nt; provided that the Administrative Agent shall notify the Required Lenders of such amendment  as soon as practicable thereafter.
Section 10.03 Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay: (i) all reasonable and documented out of pocket expenses incurred by the Administrative Agent, the Lenders, the Mandated Lead Arrangers and the ESG Coordinator in connection  with  the preparation, documentation, negotiation, execution and delivery  of   the   Loan  Documents, including, but not limited to, travel expenses, drafting and printing of the marketing materials, the reasonable fees, charges and disbursements of one outside counsel for the Administrative Agent,

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the Mandated Lead Arrangers and the ESG Coordinator, provided that, each of the Administra tive Agent, each Lender, the ESG Coordinator and each Mandated Lead Arranger acknowledges and agrees that (x) any such out-of-pocket expenses (excluding, for the avoidance of doubt, fees, costs and expenses of counsel (which shall be subject to clause (ii) of  this  Section  10.03(a))  and any costs related to Debtdomain or any other similar  electronic  platform)  exceeding  $5,000 (individually or in the aggregate) incurred by the Mandated Lead Arrangers or their respective Affiliates in connection with the syndication of the Facility prior to the  Closing  Date shall  be approved by  the Borrower (such approval not to be  unreasonably  withheld,  conditioned  or delayed), and (y) the obligation to reimburse  the Administrative Agent, the Lenders and the Mandated Lead Arrangers for the costs and expenses of counsel incurred in connection with the preparation, negotiation and execution of the Loan Documents shall be subject  to the  agreements with respect thereto among the Borrower, the Administrative Agent, the Mandated Lead Arrangers and such counsel (as applicable); (ii) all reasonable and documented out-of-pocket costs and expenses incurred by the Administrative Agent, any Issuing Bank, the ESG Coordinator or any Lender, including the reasonable fees, charges and disbursements of counsel for the Administra tive Agent, the Issuing Banks, the ESG Coordinator or the Lenders (which  shall  be  limited  to  one outside counsel in each relevant jurisdiction), in connection with  (x)  the   Facility  or   any amendment, supplement, modification, waiver or consent related thereto or (y) the issuance, amendment, renewal or extension of any Letter of Credit, in  each case subject  to an  agreement with the Borrower with respect to the amount of such costs and expenses; and (iii) all costs and expenses incurred by the Administrative Agent, any Issuing Bank or  any Lender (including documented external counsel fees and out-of-pocket expenses), if any, in connection with the preservation of rights under or with respect to, or enforcement of, this Agreement (whether through negotiations, legal proceedings or otherwise), including the enforcement  of  the  reimbursement rights under this Section 10.03  and in connection  with  any workout  or restructuring  in  respect of the Loans or Letters of Credit.

(b)Each Obligor (severally and not  jointly  in  the  case of  each Obligor  other than the Borrower) shall  indemnify the Administrative Agent, each Issuing Bank, the  ESG Coordinator, the Documentation Agent and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an "Indemnitee") against,  and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of any actual or prospective claim, litigation, investigation or proceeding in any way relating to, arising out of, in connection with or by reason of (whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation , litigation or proceeding)) (i) the execution, delivery or performance of any Loan Document or any agreement or instrument contemplated hereby or the consummation  of  the  Transactions  or  any other transactions contemplated  hereby, (ii)  any Commitment, Loan or Letter of Credit  or  the  use of the proceeds therefrom or (iii) any actual or alleged presence or Release of Hazardous Materials on or from any property owned or operated by the Borrower or its Subsidiaries and any other Environmental Liability related in  any way to  the  Borrower or  any of  its  Subsidiaries;  provided that such indemnity shall not, as to any Indemnitee, be available to the extent that  such losses,  claims, damages, liabilities or related expenses (x) result from the gross negligence, bad faith  or willful misconduct of such Indemnitee  (or  any of its Related Parties) or  from the  material  breach by such Indemnitee (or any of its Related Parties) of any obligation under the Loan Documents, in

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each case, as determined by a court of competent jurisdiction by final and non-appealable judgment or (y) result from a dispute solely among  Indemnitees  (other than any claims  against an Indemnitee in its capacity or in fulfilling its role as the Administrative Agent, Mandated Lead Arranger, ESG Coordinator, Documentation Agent or similar role  under  the Loan Documents)  and not  arising  out of any act or omission by any Obligor or any of its Affiliates. This Section 10.03(b) shall not apply  with respect to Taxes other than any Taxes that represent losses, claims or damages arising  from any non-Tax claim.

a.To the extent that any Obligor  fails  to pay any amount  required  to be paid by it to the Administrative Agent under paragraph (a) or (b) of this Section,  and without  limit ing such Obligor's obligation to do so, each Lender severally agrees to pay to the Administrative Agent such Lender's Pro-Rata Share (determined as of the time that the applicable unreimbursed  expense or indemnity payment is  sought)  of  such unpaid  amount;  provided that the unreimbursed  expense or indemnified loss, claim, damage, liability  or  related expense, as the case may  be, was incurred by or asserted against the Administrative Agent in its capacity as such. To the extent that  any Obligor fails to pay any amount required to be paid by it to the applicable Issuing Bank or the Swingline Lender under paragraph (a) or (b)  of this Section,  each Lender severally  agrees to pay  to the applicable Issuing Bank or the Swingline Lender, as the case may be, such  Lender's Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss,  claim,  damage, liability  or related expense, as the  case may be, was incurred  by or asserted against the applicable Issuing Bank or the Swingline Lender in its capacity as such.

b.To the fullest extent permitted by applicable Law, no party hereto shall assert, or permit any of their Affiliates or Related Parties to assert, and each such party hereby waives, any claim against any other party hereto or any Indemnitee (i)  for any damages arising  from the use by others of information or other materials obtained through telecommunications , electronic or other information transmission systems (including the Internet, the  Platform or  any other customary electronic platform or messaging  service); provided  that such waiver shall  not,  as to any Person, be available to the extent that such damages are determined by a court of competent jurisdiction by final, non-appealable  judgment  to have resulted from the bad faith,  gross negligence or willful misconduct of, or a breach of the Loan Documents by, such Person or its Affiliates or Related Parties, or (ii) on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in  connection  with,  or as a result of, any Loan Document or any agreement or instrument contemplated thereby,  the  Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided that, nothing in this clause
(d)shall relieve the Obligors of any obligation they may have to indemnify or reimburse an
Indemnitee against special,  indirect, consequential  or punitive damages asserted against  such Indemnitee by a third party.

(e)All amounts due under this Section shall be payable promptly after written demand therefor.

Section 10.04 Successors and Assigns.

(a)The provisions of this Agreement shall be binding upon and inure  to the  benefit of the parties hereto and their respective successors and assigns permitted hereby (including

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any Affiliate of any Issuing Bank that issues any Letter of Credit),  except that (i)  no Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by any Loan Party without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this  Section.  Nothing  in  this  Agreement,  expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any  Affiliate  of  the  Issuing Bank that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

a.(i) Subject to the  conditions  set forth  in  paragraph (b)(ii)  below,  any  Lender may assign all or a portion of its rights and obligations  under  the  Loan  Documents  (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld, conditioned or delayed) of:

i.the Borrower, provided that, no consent of the Borrower shall be required for an assignment to (i) an Initial Lender, (ii)  an Affiliate  of an Initial Lender that will not increase the payments due from the Obligors  under Sections 2.15 and 2.17,  (iii)  any other Lender previously approved by the Borrower or (iv) if an Event of Default has occurred and is continuing at the time of such assignment, to any other assignee, but the Administrative Agent shall nonetheless send notice of such assignment  to the  Borrower; and provided, further, that Borrower's failure to consent to an assignment to (i) a Fund  (excluding  any Fund that is a Lender previously approved by the Borrower), (ii) to any assignee that is reasonably expected to increase the payments due from the Obligors under Section
2.15 or 2.17 or (iii) a competitor of the Borrower and its Subsidiaries (or an Affiliate of any such competitor), in each case, shall not be deemed to be unreasonably withheld; and

ii.the Administrative Agent, the Issuing Banks  and  the Swingline Lender, provided that no such consent shall  be  required  for an assignment of any Commitment to an assignee that is a Lender or an Affiliate of a Lender with a Commitment immediately prior to giving effect to such assignment.
(ii)Assignments shall be subject to the following additional conditions :
(1)except in the case of an assignment to a Lender, an Affiliate of a Lender or  of  the  entire remaining amount of  the  assigning Lender's Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be  less than $10,000,000, unless the  Borrower and the Administrative Agent otherwise consent;

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1.each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement (including with  respect to  its  participations  in  any outstanding  Letters of Credit and Swingline Loans);
2.the parties to each assignment shall execute and  deliver  to the Administrative Agent an Assignment and Assumption,  together  with  a processing and recordation fee of $3,500; provided, that the Administrative Agent may, in its sole discretion,  elect  to waive  such proceeding  and recordation  fee in the case of any assignment; and
3.the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in which the  assignee designates one or more credit contacts at such assignee to whom all syndicate-level information (which  may  contain   material  non-public  information  about  the Obligors and their Related Parties or their respective securities) will  be  made available and who may receive such information in accordance with the assignee's compliance procedures and applicable Laws, including Federal and state securities Laws.

i.Subject to  acceptance  and  recording thereof  pursuant  to paragraph (b)(iv) of this Section, from and after the effective date specified  in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under  this  Agreement,  and the assigning  Lender thereunder  shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the  benefits  of  (and subject to the obligations and limitations of) Sections  2.15,  2.16,  2.17  and 10.03  and any fees payable hereunder that have accrued for such Lender's account but have not yet been paid). Upon the surrender,  destruction  or  marking  conspicuously  as "cancelled"  by  the assigning Lender of its Note, if any (which each Lender shall undertake upon  request), the applicable Obligors shall execute and deliver a Note to the assignee  Lender  upon request. Any assignment or transfer by  a Lender of rights or obligations under this Agreement that does not comply with this  Section  10.04  shall  be  treated for purposes  of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section.

ii.The Administrative Agent, acting solely for this purpose as a non- fiduciary agent of the Obligors, shall  maintain at one of its offices a copy  of  each Assignment and Assumption delivered to it and a register for the recordation of the names  and addresses of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the "Register"). The entries in the Register shall be conclusive absent manifest error, and the Obligors, the Administrative  Agent, the  Issuing  Banks and  the Lenders shall treat each Person whose name is recorded in the Register pursuant to the

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terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Obligors, any Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice.

i.Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee's completed Administra tive Questionnaire (unless the assignee shall  already be  a Lender hereunder),  the  processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the  information contained  therein  in the Register; provided that if either the assigning  Lender or the  assignee  shall  have  failed to  make  any  payment  required  to  be   made  by   it   pursuant   to   Section  2.05(c), Section 2.06(d), Section 2.06(e), Section 2.07(b), Section 2.18(d) or Section 10.03(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall  be  effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

a.Any Lender may, without the consent of the Obligors, the Administra tive Agent, the Issuing Banks or the Swingline Lender, sell participations to one or more Persons (other than the Borrower or any of its Affiliates, or a natural Person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person)) (a "Participant"), in all or a portion of such Lender's rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender's obligations under this Agreement shall remain unchanged; (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations; and (C) the Obligors, the Administrative Agent, the Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights  and obligations  under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this  Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described  in  the  first  proviso  to Section 10.02(b) that directly and adversely affects such Participant. The Obligors agree that each Participant shall  be entitled to the benefits  of Sections 2.15, 2.16  and 2.17  (subject to the requirements and limitations therein, including the requirements under Section 2.17(f) (it being understood that the  documentation required  under  Section  2.17(f)  shall  be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this  Section;  provided that such Participant  (A) agrees to be subject to the provisions of Section 2.19 as if it were an assignee under paragraph (b) of this  Section; and (B) shall not be entitled to receive any greater payment under  Section  2.15 or  2.17, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from  a Change  in  Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Obligors' request and expense, to use reasonable efforts to cooperate

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with the Obligors to  effectuate the  provisions  of  Section  2.19(b)  with  respect to any Participant. To the extent permitted by  law, each Participant also  shall   be   entitled  to  the  benefits   of  Section 10.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. Each Lender that  sells a  participation  shall,  acting solely for this purpose as a non-fiduciary agent of the  Obligors, maintain  a register  on  which  it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the Loans or other obligations under the Loan Documents (the "Participant Register"); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any Commitments, Loans, Letters of Credit or  its  other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in registered form under Section  5f.103-1(c)  of  the United  States Treasury Regulations.  The entries in the Participant Register shall be conclusive absent manifest  error, and such Lender shall  treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes  of this  Agreement notwithstanding  any notice  to the  contrary.  For  the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall  have no responsibility for maintaining a Participant Register.

Any Lender may, without the consent of the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including without limitation any pledge or assignment  to  secure obligations to a Federal Reserve Bank or any other central bank; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

Section 10.05 Survival. All covenants,  agreements, representations  and warranties  made by the Obligors in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to any Loan Document shall  be  considered  to have been relied  upon by the other parties hereto and shall survive  the  execution  and delivery  of the  Loan Documents  and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding  that the Administrative Agent,  any Issuing Bank or any Lender may have had notice or knowledge of any Default or Event of Default at the time any credit is extended hereunder, and shall continue in full force and effect as  long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding  and unpaid  or any Letter of  Credit is outstanding  and so long  as the Commitments have not expired or terminated.  The  provisions  of Sections  2.15,  2.16,  2.17 and 10.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated  hereby, the repayment of the Loans,  the expiration or termination  of the Letters of  Credit  and the Commitments or the termination  of this  Agreement or any provision hereof.
Section 10.06 Counterparts; Integration; Effectiveness; Electronic Execution.  (a) This Agreement may be executed in counterparts (and by  different parties  hereto on  different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire contract

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among the parties relating to the  subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall  become effective when it  shall  have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns.

(b)   Delivery  of an executed counterpart  of a signature  page  of  this  Agreement by telecopy, facsimile, electronic mail (including pdf)  or  any other  electronic  means  complying with the U.S. federal ESIGN Act of 2000 or the New York State Electronic Signatures and Records Act or other transmission method and any counterpart so delivered shall be deemed to have been  duly and validly delivered and be valid  and effective for all purposes to the  fullest  extent permitted by applicable Law. For the avoidance of doubt, the foregoing also applies to any amendment, extension or renewal of the agreement. The words  "execution,"  "signed," "signature,"  "delivery," and words of like import in or relating to any document to be signed in connection with this Agreement and the transactions contemplated  hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall  be  of the  same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures  in  Global  and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. Each of the parties hereto represents and warrants to the other party/ies that is has the corporate capacity and authority to execute this Agreement through electronic means and there are no restrictions for doing so in that party's constitutive documents.

Section 10.07 Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality  or  unenforceability  without  affecting the  validity,   legality   and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in  a  particular jurisdiction shall not invalidate such provision in any other jurisdiction.
Without limiting the foregoing  provisions  of this  Section,  if and to the extent that the enforceability of any provision of this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, any Issuing Bank or any Swingline Lender, as applicable, then such provision shall be deemed to be in effect only to the extent not so limited.

Section 10.08 Right of Setoff. If an Event of  Default shall  have occurred and  be continuing, each Lender and each of its  Affiliates  is  hereby authorized  at any time  and from time to time, to the fullest extent permitted by Law, to set off and apply any and all deposits (general or special, time or demand, provisional  or  final)  at any time  held  and other  matured  obligations  at  any time owing by such Lender or Affiliate to or for the credit or the  account  of  the  Obligors  against any of and all the matured obligations of the Obligors now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations are owed to a branch or office of such

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Lender different from the branch or office holding such deposit or obligated on such indebtedness. The applicable Lender and applicable Issuing Bank shall  notify the  Borrower  and  the Administrative Agent  in  writing  of  such setoff  and application;   provided  that any failure  to give or any delay in giving such notice shall not affect the validity  of  any such setoff and application under this Section. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have.

Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process.

(a)This Agreement and the other Loan Documents and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement or any other Loan Document (in each case, except as expressly set forth in any other Loan Document) shall be construed in  accordance with  and governed  by  the law  of the State of New York.
(b)Each Loan Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of  New York sitting in New York County, Borough of Manhattan, and of the United States District Court for  the Southern District of New York sitting in New York County, and any appellate court from any thereof, in any action or proceeding arising out of or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any  such action  or  proceeding  shall  be  heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the  judgment  or  in  any other manner provided by  law. Nothing in any Loan Document shall  affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to any Loan Document against any Obligor  or  its  properties  in  the  courts  of any jurisdiction.

(c)Each Loan Party hereby irrevocably and unconditionally waives, to  the fullest extent it may legally and effectively do  so, any objection  which  it  may  now  or  hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to any Loan Document in any court referred to in paragraph (b) of this Section. Each  of  the  parties  hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.
(d)Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01. Nothing in any Loan Document  will  affect the  right of any party to this Agreement to serve process in any other manner permitted by law.

EACH LOAN PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT SERVICE OF ALL WRITS, PROCESS AND SUMMONSES IN ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN THE STATE OF NEW YORK MAY BE MADE UPON CT CORPORATION SYSTEM, AT 28 LIBERTY STREET, NEW YORK, NEW YORK 10005, UNITED STATES OF AMERICA (THE "PROCESS AGENT") AND EACH LOAN PARTY HEREBY CONFIRMS AND AGREES THAT THE PROCESS AGENT HAS BEEN

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DULY AND IRREVOCABLY APPOINTED (AND HAS ACCEPTED ITS APPOINTMENT) AS ITS RESPECTIVE AGENT TO ACCEPT SUCH SERVICE OF ANY AND ALL SUCH WRITS, PROCESSES AND SUMMONSES, AND AGREES THAT THE FAILURE OF THE PROCESS AGENT TO GIVE ANY NOTICE OF ANY SUCH SERVICE OF PROCESS TO ANY LOAN PARTY SHALL NOT IMPAIR OR AFFECT THE VALIDITY OF SUCH SERVICE OR OF ANY JUDGMENT BASED THEREON. IF THE PROCESS AGENT SHALL CEASE TO SERVE AS AGENT FOR THE LOAN PARTIES, EACH OF THE LOAN PARTIES SHALL PROMPTLY APPOINT A SUCCESSOR AGENT SATISFACTORY TO THE ADMINISTRATIVE AGENT. EACH LOAN PARTY HEREBY FURTHER AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

Section 10.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY  (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH  OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

Section 10.11 Headings. Article and Section headings and the Table  of  Contents  used herein are for convenience of reference only,  are not  part of  this  Agreement and shall  not  affect the construction of, or be taken into consideration in interpreting, this Agreement.

Section 10.12 Confidentiality. Each of  the  Administrative Agent,  the  Issuing  Banks  and the Lenders agrees to maintain the confidentiality of the  Information  (as defined  below),  except that Information may be disclosed (a) to its and its Affiliates' directors,  officers,  partners, employees, agents, including accountants, legal  counsel and other  advisors and independent auditors (collectively, the "Representatives") (it being understood that the Persons to whom such disclosure  is  made will  be informed  of  the confidential  nature of  such Information  and instructed to keep such Information confidential), (b) upon the request or demand  of  any  governmental agency or regulatory authority (including  any  self-regulatory  authority)  having  jurisdiction  over such Person or any of its Affiliates; provided that, in each case, such Person agrees, except with respect to any audit or examination conducted by bank accountants or any regulatory authority or self-regulatory authority exercising examination or regulatory authority, to the extent permitted  by Law (in which case the disclosing party shall inform the Borrower promptly thereof to the extent practicable and permitted by  applicable Law), (c) pursuant  to the order of  any court  or administrative agency in, or to the extent reasonably necessary in connection with,  any  pending legal, judicial or administrative proceeding, or otherwise as required by applicable Law, rule or regulation or by any subpoena or similar legal process (in which case the  disclosing  party  shall inform  the  Borrower  promptly  thereof to the  extent practicable  and permitted  by applicable Law),
(d) to  any  other  party  to  this   Agreement,  (e) in  connection  with  the  exercise  of  any remedies

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hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or prospective Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative  transaction  relating  to the  Obligors  and their obligations under the Loan Documents, (g) with the consent of the Borrower, (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section,
(ii)becomes available to the Administrative Agent, any Issuing Bank or any Lender on a non- confidential basis  from a source other than a Loan Party or (iii) to the extent that such Information is independently developed by the Administrative Agent or the Lenders without  the  using  or otherwise reflecting of such Information or (i) on a confidential basis to the CUSIP bureau in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the Facility. In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement and publicly  available information  about  this  Agreement  to market data collectors, similar services providers to the lending industry, and service providers to the Mandated Lead Arrangers and the Lenders in connection with the administration  and management of this Agreement, the other Loan Documents, the  Commitments and the Borrowings  hereunder. The Administrative Agent and Lenders shall also have permission  to use the names  and  logos  of the Loan Parties in the Administrative Agent's or their respective affiliates' marketing materials, subject to the Borrower's prior written consent (not to be unreasonably withheld, conditioned or delayed). For the purposes of this Section, "Information" means all information received from a Loan Party relating to the Loan Parties or their business, other than any such information that is available to the Administrative Agent, any Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by a Loan Party; provided that, in the case of information received from a Loan Party after the date hereof, such information is clearly identified at the time of  delivery  as confidential. Any Person required  to  maintain the  confidentiality  of  Information  as  provided  in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as  such  Person would accord to its own confidential information.

Section 10.13 Material Non-Public Information.

(1)EACH LENDER ACKNOWLEDGES THAT INFORMATION (AS DEFINED IN SECTION 10.12) FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.
(2)ALL INFORMATION NOT MARKED "PUBLIC", INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY A LOAN PARTY OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION

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ABOUT THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS  TO THE LOAN PARTIES AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON- PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.
Section 10.14 Interest  Rate  Limitation.  Notwithstanding  anything  to  the contrary contained in any Loan Document, if at any time the interest rate applicable to any Loan,  together with all fees, charges and other amounts which are treated as interest on such  Loan  under applicable Law (collectively the "Charges"), shall  exceed the  maximum lawful  rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Law, the rate of interest payable in  respect of such Loan hereunder, together with all Charges payable  in  respect thereof,  shall  be limited  to the Maximum Rate. To the extent lawful, the interest and Charges that would have been paid in respect of such Loan but were not paid as a result of the operation  of  this  Section  shall  be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the amount collectible at the Maximum Rate therefor) until such cumulated amount, together with interest  thereon at the Federal Funds  Effective Rate for each day to the date of repayment, shall have been received by such Lender. Any amount collected by such Lender that exceeds the maximum amount collectible at the Maximum Rate shall be applied to the reduction of the principal balance of such Loan or refunded to the Borrower so that at no time shall the interest and charges paid or payable in respect of such Loan exceed the maximum amount collectible at the Maximum Rate.
Section 10.15 Judgment Currency.

(a)If, for the purpose of obtaining judgment in any court, it  is  necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall  be that at which, in accordance with normal banking  procedures in  the relevant jurisdiction,  the first  currency could be purchased with such other currency on the Business Day immediately preceding the  day on  which final judgment is given.

(b)If any party hereto or any holder of any obligation owing hereunder (the "Applicable Creditor") obtains a judgment or judgments against a Loan Party  in  a  foreign currency, any Dollar-denominated obligations of  such Loan Party in  respect of any sum adjudge d to be due to the Applicable Creditor hereunder (the "Judgment Amount") shall  be discharged only to the extent that, on the Business Day following receipt by the  Applicable  Creditor  of  the  Judgment Amount in such foreign currency, the Applicable Creditor, in accordance with normal banking procedures in  the relevant  jurisdiction,  may purchase Dollars  with  the Judgment  Amount in such foreign currency. If the amount of Dollars so purchased is  less than the amount  of Dollars that could have been purchased with the Judgment Amount on the date or dates the  Judgment Amount was originally due and owing (the "Original Due Date") to the Applicable Creditor (the "Loss"), each applicable Loan Party agrees as a separate obligation and notwithstanding any such

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judgment, to indemnify the Applicable Creditor against the Loss, and if the amount of Dollars so purchased exceeds the amount of Dollars that could have been purchased with  the  Judgment Amount on the Original Due Date, the Applicable Creditor agrees to remit such excess to the Loan Parties (as applicable). The obligations of  the Loan Parties under  this  Section  10.15  shall  survive the termination of this Agreement and the payment of all other amounts owing hereunder.
a.Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Loan Documents in a currency or currency unit other than that in which it is expressed to be payable.
Section 10.16 Waiver of Immunity. Each of  the  Loan  Parties acknowledges  and  agrees that the activities contemplated by the provisions of the Loan Documents are commercial in nature rather than governmental or public and therefore acknowledges and agrees that such Loan Party is not entitled to any right of immunity on the  grounds  of sovereignty  or otherwise  with  respect to  such activities or in any legal action or proceeding arising out of or relating  to the Loan Documents. To the extent permitted by applicable Law, each Loan Party, in respect of itself, its process agents and its properties (including its Subsidiaries) and revenues, expressly and irrevocably  waives any such right of immunity which may now or hereafter exist (including any immunity  from  the jurisdiction of any court or from any suit, execution, attachment  (whether provisional  or  final,  in aid of execution, prior to judgment or otherwise) or other  legal   process  (including  in  any  jurisdiction where immunity (whether or not claimed) may be attributed to it or its assets)) or claim thereto which may now or hereafter exist and irrevocably agrees not to assert any such right or  claim of immunity in any such action or proceeding to the fullest extent permitted  now  or  in  the future by the laws of any such jurisdiction. The Loan Parties agree that the waivers set forth in this Section 10.24 shall have the fullest effect permitted under applicable Law, including the Foreign Sovereign Immunities Act of 1976 of the United States of America (28 U.S.C. §§1602-1611) (the "FSIA"), and are intended to be irrevocable and not subject to withdrawal for purposes of the FSIA.USA PATRIOT Act. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Loan Party that pursuant to the requirements of the  USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the "PATRIOT  Act") and the requirements of the Beneficial Ownership Regulation, it is required to obtain, verify  and record information that identifies each Loan Party, which information  includes  the name, address and tax identification number of such Loan Party and other information that will allow  such Lender or Administrative Agent, as applicable, to identify each Loan Party in accordance with  the PATRIOT Act and the Beneficial Ownership Regulation.
Section 10.18 No Advisory or Fiduciary  Responsibility.  In connection  with all  aspects of the Transactions (including in connection with any amendment,  waiver  or  other  modification hereof or of any other Loan Document), each Loan Party acknowledges and agrees, and acknowledges its Affiliates' understanding, that: (i) (A) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are arm's- length commercial transactions between the Loan Parties and their Affiliates,  on the one hand, and the Administrative Agent, the  Mandated Lead Arrangers, the ESG  Coordinator  and the  Lenders, on the other hand, (B) each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) each of the Loan Parties is capable of evaluating, and understands and accepts, the terms, risks and conditions of the Transactions; (ii)
(A)the Administrative Agent, each Mandated Lead Arranger, the ESG Coordinator and each

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Lender is and has been acting solely  as a principal  and,  except as expressly  agreed in  writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary  for any Loan Party, its stockholders or any of its Affiliates (irrespective of whether any Lender has advised, is currently advising or will advise any  Loan Party, its  stockholders  or  its  Affiliates  on other matters), or any other Person and (B) neither the Administrative Agent, any Mandated Lead Arranger, the ESG Coordinator, the  Documentation  Agent nor  any Lender has  any obligation  to the Loan Parties or any of their respective Affiliates with respect to the Transactions except those obligations (if any) expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Mandated Lead Arrangers, the ESG Coordinator, the Documentation Agent and the Lenders and their respective Affiliates may be  engaged in a broad range of transactions that involve economic interests that conflict with those of and the Loan Parties, their stockholders and/or their Affiliates, and neither the Administrative Agent, any Mandated Lead Arranger, the ESG Coordinator, the Documentation Agent nor any Lender has any obligation to disclose any of such interests to the Loan Parties or any of their respective Affiliates. Each Loan Party agrees that nothing in the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender on the one hand, and such Loan Party, its stockholders or its Affiliates, on the other. To the fullest extent permitted by law, each Loan Party hereby waives and releases any claims that it may have against the Administrative Agent, each of the Mandated Lead Arrangers, the ESG Coordinator, the Documentation Agent, any Lender or the respective Affiliates of each of the foregoing with  respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspec t of any transaction contemplated hereby.

Section 10.19 Acknowledgment and Consent to Bail-In of Affected Financial Institutions . Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an Affected Financial  Institution arising  under any Loan Document,  to the extent such liability is unsecured, may be subject to the Write-Down and Conversion  Powers of  the applicable Resolution  Authority  and agrees and consents to,  and acknowledges  and agrees to be bound by:
a.the application of  any Write-Down and Conversion Powers by   the applicable Resolution  Authority  to any such liabilities   arising  hereunder which  may be payable  to it by any party hereto that is an Affected Financial Institution; and
b.the effects of any Bail-In  Action  on  any such liability, including, if

0010146-0000535 NYO1: 2000703970                                     .135

applicable:

(i)a reduction  in  full  or in  part  or cancellation  of any such liability;

(ii)a conversion  of all,  or a portion  of, such liability   into  shares or other

instruments of ownership in such  Affected Financial  Institution,  its  parent  entity,  or  a bridge institution that may be issued to it  or otherwise  conferred on it,  and that such shares or other instruments of ownership  will  be accepted by it  in  lieu  of  any rights  with  respect to any such liability under this Agreement or any other Loan Document; or

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i.the variation of the terms of such liability in connection  with the exercise of the  Write-Down and Conversion Powers of  the applicable Resolution  Authority.

The provisions of this  Section  10.19  are intended  to comply  with,  and shall  be interpreted in light of, Article 55  of Directive  2014/59/EU  of  the European  Parliament  and of the  Council  of the European Union.

Section 10.20 Electronic Execution of Assignments and Certain Other Documents. The words "execution," "execute", "signed," "signature," and words of like import in  or related to any Loan Document or other document to be signed in connection with this Agreement and the Transactions (including without limitation Assignment and Assumptions, amendments or other modifications hereof, or Borrowing Requests, Letter of Credit  Requests, waivers  and consents)  shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms  approved  by the Administrative  Agent, or the  keeping of records in electronic form, each of which shall  be of the same legal  effect, validity or enforceability as a manually executed signature  or the use of a paper-based recordkeeping  system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or any other similar state laws based on the Uniform Electronic Transactions Act. Each of the parties hereto represents and warrants to the  other  party/ies  that is has the corporate capacity and authority to execute such Loan Document through electronic means and there are no restrictions for doing so in that party's constitutive documents.
[Signature  pages follow]

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0010146-0000535 NYO1: 2000703970                                     .138

 

 

 

[Signature Page – Credit Agreement] THE BANK OF NOVA SCOTIA, as Lender,  Swingline Lender, Issuing Bank and  Administrative Agent By: ____________________________________ Name:  Title:  Luis Bautista/ Ana Espinoza Director, International Banking 

 

 

 

 

 

  [Signature Page – Credit Agreement]    BANK OF AMERICA, N.A., as Lender       By: ____________________________________   Name:   Title:     Gonzalo Isaacs Managing Director 

 

 

 

[Signature Page – Credit Agreement] J.P. MORGAN AG, as Issuing Bank By: ____________________________________ Name:  Title:  J.P. MORGAN SECURITIES PLC, as Lender By: ____________________________________ Name:  Title: Richard Johansson Executive Director 

 

[Signature Page – Credit Agreement] GOLDMAN SACHS BANK USA, as Lender  By: ____________________________________ Name:   Title:   

 

[Signature Page – Credit Agreement] MORGAN STANLEY SENIOR FUNDING,  INC., as Lender  By: ____________________________________ Name:  Title:  Michael King Authorized Signatory 

 

  [Signature Page – Credit Agreement]    BANCO SANTANDER S.A., as Lender      By: ____________________________________   Name:   Title:  Enrique Rico 

 

 

 

BANCO S.A., LO By:   Name: K Title: M By: Name: H Title: M  BILBAO  NDON BR evin Buck anaging Di edi Ben Sa anaging Di VIZCAYA ANCH, as rector lem rector   ARGENTA  Lender  RIA,  [Signature Page – Credit Agreement]  

 

  [Signature Page – Credit Agreement]    CREDIT SUISSE AG, CAYMAN ISLANDS  BRANCH, as Lender       By: ____________________________________   Name:   Title:     By: ____________________________________   Name:   Title:  Judith E. Smith Authorized Signatory Nicolas Thierry Authorized Signatory 

 

 Jersey   

 

Group CPE ESG TARGET 1 ESG Target 1 Annual Target CPE Recovery Approach Metric 

 

ESG TARGET 2 Supplier CR Training Program ESG Target 2 Suppliers ESG Target 2 Annual Target Supplier CR Training Program Metric ESG TARGET 3  Conectadas Conectadas Program 

 

Conectadas  Conectadas ESG Target 3 Annual Target Conectadas Program Metric ESG TARGET 4 MCP ESG Target 4 Annual Target 

 

MCP Metric 

 

 

 

 

 

EXHIBIT A     Exhibit A - 1  0010146-0000535 NYO1: 2000731687.1   FORM OF  ASSIGNMENT AND ASSUMPTION  This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective  Date set forth below and is entered into by and between the Assignor identified in item 1 below (the  “Assignor”) and the Assignee identified in item 2 below (the “Assignee”). Capitalized terms used but not  defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended,   restated, supplemented or otherwise modified, the “Credit Agreement”), receipt of a copy of which is  hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached  hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and  Assumption as if set forth herein in full.  For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and  the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance  with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the  Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its capacity  as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto  to the extent related to the amount and percentage interest identified below of all of such outstanding rights  and obligations of the Assignor under the respective facilities identified below (including without limitation  any letters of credit, guarantees, and swingline loans included in such facilities) and (ii)  to the extent  permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the  Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in  connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or  the loan transactions governed thereby or in any way based on or related to any of the foregoing, including,  but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at  law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the  rights and obligations sold and assigned by the Assignor to the Assignee pursuant to clauses  (i) and  (ii) above being referred to herein collectively as the “Assigned Interest”). Each such sale and assignment  is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption,  without representation or warranty by the Assignor.  1. Assignor:  ______________________________  2. Assignee:  ______________________________     [and is [a Lender][an [Affiliate] of [identify Lender]1]]  3. Obligor(s):  Millicom International Cellular S.A. [and]     [          ]2    4. Administrative Agent: The Bank of Nova Scotia, as the administrative agent under the Credit  Agreement  5. Credit Agreement: The Revolving Credit Agreement, dated as of [        ], 2020, among Millicom  International Cellular S.A., the Lenders parties thereto, The Bank of Nova  Scotia, as Administrative Agent, and the other agents party thereto.                                                  1 Select as applicable.  2  Include any additional borrowers designated pursuant Section 2.21 of the Credit Agreement.  

 

 Exhibit A - 2  0010146-0000535 NYO1: 2000731687.1  6. Assigned Interest:  Facility  Assigned3  Aggregate Amount of  Commitment/Loans for  all Lenders  Amount of  Commitment/Loans  Assigned  Percentage Assigned of  Commitment/Loans4   $ $ %   $ $ %   $ $ %    Effective Date:  _____________ ___, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT  AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE  REGISTER THEREFOR.]  The Assignee, if not already a Lender, agrees to deliver to the Administrative Agent a completed  Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom all  syndicate-level information (which may contain material non-public information about the Obligors and  their Related Parties or their respective securities) will be made available and who may receive such  information in accordance with the Assignee’s compliance procedures and applicable laws, including  Federal and state securities laws.  The terms set forth in this Assignment and Assumption are hereby agreed to:  ASSIGNOR  [NAME OF ASSIGNOR]    By:    Title:      ASSIGNEE  [NAME OF ASSIGNEE]    By:    Title:                                                 3 Fill in the appropriate terminology for the types of Facilities under the Credit Agreement that are being  assigned under this Assignment (e.g., “Revolving Loans,” “Swingline Loans,” etc.)  4 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.  

 

   Exhibit A - 3  0010146-0000535 NYO1: 2000731687.1  [Consented to and]5 Accepted:  THE BANK OF NOVA SCOTIA, as  Administrative Agent  By:_________________________________  Title:  Consented to:  [NAME OF ISSUING BANK]  By:_________________________________  Title:  Consented to:  [NAME OF SWINGLINE LENDER]  By:________________________________  Title:        [Consented to:    MILLICOM INTERNATIONAL CELLULAR S.A.,  as the Borrower   By:________________________________  Title:    By:______________________________  Title:]6                                                5  To be added only if the consent of the Administrative Agent is required by Section 10.04.  6  To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.  

 

ANNEX I     Exhibit A - 4  0010146-0000535 NYO1: 2000731687.1  STANDARD TERMS AND CONDITIONS FOR  ASSIGNMENT AND ASSUMPTION  1.  Representations and Warranties.  1.1  Assignor. The Assignor (a) represents and warrants that (i) it is the legal and  beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien,  encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary,  to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated  hereby and (iv) it is not a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any  statements, warranties or representations made in or in connection with the Credit Agreement or any other  Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of  the Loan Documents or any collateral thereunder, (iii) the financial condition of the Obligors, any of their  Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the  performance or observance by the Obligors, any of their Subsidiaries or Affiliates or any other Person of  any of their respective obligations under any Loan Document.  1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power  and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption  and to consummate the transactions contemplated hereby and to become a Lender under the Credit  Agreement, (ii) it meets all the requirements to be an assignee under Section 10.04 of the Credit Agreement  (subject to such consents, if any, as may be required thereunder), (iii) from and after the Effective Date, it  shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the  Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit  Agreement, and has received or has been accorded the opportunity to receive copies of the most recent  financial statements delivered pursuant to Section 5.01 thereof, as applicable, and such other documents  and information as it deems appropriate to make its own credit analysis and decision to enter into this  Assignment and Assumption and to purchase the Assigned Interest, (v) it has, independently and without  reliance upon the Administrative Agent or any other Lender and based on such documents and information  as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and  Assumption and to purchase the Assigned Interest, (vi) it is sophisticated with respect to decisions to acquire  assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in  making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type and  (vii) attached to the Assignment and Assumption is any documentation required to be delivered by it  pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee and (viii) it  is not a Defaulting Lender; and (b) agrees that (i) it will, independently and without reliance on the  Administrative Agent, the Assignor or any other Lender, and based on such documents and information as  it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action  under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations  which by the terms of the Loan Documents are required to be performed by it as a Lender.  2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments  in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the  Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for  amounts which have accrued from and after the Effective Date.  Notwithstanding the foregoing, the  Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind  from and after the Effective Date to the Assignee.  3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the  benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption  may be executed in any number of counterparts, which together shall constitute one instrument. Acceptance  

 

    Exhibit A - 5  0010146-0000535 NYO1: 2000731687.1  and adoption of the terms of this Assignment and Assumption by the Assignee and the Assignor by  Electronic Signature complying with the U.S. federal ESIGN Act of 2000 or the New York Electronic  Signature and Records Act or delivery of an executed counterpart of a signature page of this Assignment  and Assumption by any Electronic System shall be effective as delivery of a manually executed counterpart  of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed  in accordance with, the law of the State of New York.  

 

EXHIBIT B     Exhibit B - 1  0010146-0000535 NYO1: 2000731687.1   FORM OF  COMPLIANCE CERTIFICATE  To: The Bank of Nova Scotia, as Administrative Agent   From: Millicom International Cellular S.A.  Dated: [  ]    Millicom International Cellular S.A. – US$ 600,000,000 Senior Unsecured   Revolving Facility dated October 15, 2020    Reference is hereby made to the Revolving Credit Agreement dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among  Millicom International Cellular S.A., a limited liability company (société anonyme) organized under the  laws of the Grand Duchy of Luxembourg, with its domicile and principal place of business located at 2  rue du Fort Bourbon, L-1249, Luxembourg and registered with the Luxembourg Trade and Companies  Register under number B 40630 as Borrower and as Guarantor under Article IX of the Credit Agreement,  The Bank of Nova Scotia, as Administrative Agent, each Lender from time to time party thereto and the  other agents party thereto. This is a Compliance Certificate under the Credit Agreement. Capitalized  terms used in this Compliance Certificate and not otherwise defined herein shall have the meanings  assigned to such terms in the Credit Agreement.  Pursuant to Section 5.01(c) of the Credit Agreement, the undersigned, solely in his/her capacity  as a Financial Officer of the Borrower and not in his/her individual capacity, hereby certifies that:  1. solely for purposes of the Pricing Grid, in respect of the Financial Quarter ending on [•],  Consolidated Net Debt for such relevant period was [•] and Consolidated EBITDA was [•].  Therefore, the Total Net Leverage Ratio was [•];  2. in respect of the Financial Quarter ending on [•], [not more than]/[more than]1 thirty five percent  (35%) of the Facility has been drawn;  3. in respect of the Financial Quarter ending on [•], Consolidated Net Debt for such relevant  period  was [•] and Consolidated EBITDA was [•]. Therefore, the Total Net Leverage Ratio was [•]; [and]  4. [the Borrower has elected its Step-Up Option to accommodate permitted Debt associated with a  Qualified Acquisition pursuant to Section 6.04(b) of the Credit Agreement;]  5. [the covenant contained in Section 6.04(a) [has/has not]2 been complied with; and]3  6. [no Default is continuing.]4                                                 1  Select as appropriate.  2  Select as appropriate.  3  To be included only if more than 35% of the Facility is drawn.  4   If this statement cannot be made, the certificate should identify any Default that is continuing and the steps,  if any, being taken to remedy it.  

 

   Exhibit B - 2  0010146-0000535 NYO1: 2000731687.1   IN WITNESS WHEREOF, the Borrower has executed or caused this Compliance Certificate to  be executed as of the date first written above.    MILLICOM INTERNATIONAL CELLULAR S.A., as  Borrower     By:    _________________________________________  Name:  Title:      By:    _________________________________________  Name:  Title:          

 

EXHIBIT C-1     Exhibit C-1 - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)   Reference is hereby made to the Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among  Millicom International Cellular S.A., The Bank of Nova Scotia, as Administrative Agent, each lender from  time to time party thereto and the other agents party thereto.  Pursuant to the provisions of Section 2.17(f)(ii)(B)(3) of the Credit Agreement, the undersigned  hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s)  evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a “bank” within the  meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “10 percent shareholder” of any Obligor within  the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation” related  to any Obligor as described in Section 881(c)(3)(C) of the Code.  The undersigned has furnished the Administrative Agent and the Obligors with a duly executed  certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable. By  executing this certificate, the undersigned agrees that (1) if the information provided on this certificate  changes, the undersigned shall promptly so inform the Obligors and the Administrative Agent in writing  and (2) the undersigned shall have at all times furnished the Obligors and the Administrative Agent with a  properly completed and currently effective certificate in either the calendar year in which each payment is  to be made to the undersigned, or in either of the two calendar years preceding each such payment.  Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have  the meanings given to them in the Credit Agreement.  [NAME OF LENDER]  By:    Name:   Title:    Date: [            ], 20[__]  

 

EXHIBIT C-2     Exhibit C-2 - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)  Reference is hereby made to the Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among  Millicom International Cellular S.A., The Bank of Nova Scotia, as Administrative Agent, each lender from  time to time party thereto and the other agents party thereto.  Pursuant to the provisions of Section 2.17(f)(ii)(B)(4) of the Credit Agreement, the undersigned  hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this  certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation,  (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect  partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary  course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its  direct or indirect partners/members is a “10 percent shareholder” of any Obligor within the meaning of  Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a “controlled  foreign corporation” related to any Obligor as described in Section 881(c)(3)(C) of the Code.  The undersigned has furnished its participating Lender with a duly executed IRS Form W-8IMY  accompanied by one of the following forms from each of its partners/members that is claiming the portfolio  interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or (ii) an IRS Form  W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, from each of  such partner’s/member’s beneficial owners that is c laiming the portfolio interest exemption. By executing  this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the  undersigned shall promptly so inform such Lender in writing and (2) the undersigned shall have at all times  furnished such Lender with a properly completed and currently effective certificate in either the calendar  year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding  each such payment.  Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have  the meanings given to them in the Credit Agreement.  [NAME OF PARTICIPANT]  By:    Name:   Title:    Date: [            ], 20[__]  

 

EXHIBIT C-3     Exhibit C-3 - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)   Reference is hereby made to the Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among  Millicom International Cellular S.A., The Bank of Nova Scotia, as Administrative Agent, each lender from  time to time party thereto and the other agents party thereto.  Pursuant to the provisions of Section 2.17(f)(ii)(B)(4) of the Credit Agreement, the undersigned  hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it  is providing this certificate, (ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code,  (iii) it is not a “10 percent shareholder” of any Obligor within the meaning of Section 871(h)(3)(B) of the  Code, and (iv) it is not a “controlled foreign corporation” related to any Obligor as described in Section  881(c)(3)(C) of the Code.  The undersigned has furnished its participating Lender with a duly executed certificate of its non- U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable. By executing this  certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the  undersigned shall promptly so inform such Lender in writing and (2) the undersigned shall have at all times  furnished such Lender with a properly completed and currently effective certificate in either the calendar  year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding  each such payment.  Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have  the meanings given to them in the Credit Agreement.  [NAME OF PARTICIPANT]  By:    Name:   Title:    Date: [            ], 20[__]  

 

EXHIBIT C-4     Exhibit C-4 - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF  U.S. TAX COMPLIANCE CERTIFICATE  (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)  Reference is hereby made to the Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among  Millicom International Cellular S.A., The Bank of Nova Scotia, as Administrative Agent, each lender from  time to time party thereto and the other agents party thereto.  Pursuant to the provisions of 2.17(f)(ii)(B)(4) of the Credit Agreement, the undersigned hereby  certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s))  in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole  beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the  extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned  nor any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement  entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of  the Code, (iv) none of its direct or indirect partners/members is a “10 percent shareholder” of any Obligor  within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect  partners/members is a “controlled foreign corporation” related to any Obligor as described in Section  881(c)(3)(C) of the Code.  The undersigned has furnished the Administrative Agent and the Obligors with a duly executed  IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is  claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,   or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as  applicable, from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest  exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this   certificate changes, the undersigned shall promptly so inform the Obligors and the Administrative Agent in  writing and (2) the undersigned shall have at all times furnished the Obligors and the Administrative Agent  with a properly completed and currently effective certificate in either the calendar year in which each  payment is to be made to the undersigned, or in either of the two calendar years preceding each such  payment.  Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have  the meanings given to them in the Credit Agreement.  [NAME OF LENDER]  By:    Name:   Title:    Date: [            ], 20[__]  

 

EXHIBIT D     Exhibit D - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF  BORROWING REQUEST  Date:  ____________, 20__  The Bank of Nova Scotia,  as Administrative Agent  720 King Street West, 4th Floor  Toronto, Ontario, Canada M5V 2T3  Attention: Tyrone Nicholson  Email: Tyrone.nicholson@scotiabank.com  GWSLoanOps.Intl@scotiabank.com    Ladies and Gentlemen:  Reference is made to that certain Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit  Agreement”), among Millicom International Cellular S.A., a limited liability company (société anonyme)  organized under the laws of the Grand Duchy of Luxembourg, with its domicile and principal place of  business located at 2 rue du Fort Bourbon, L-1249, Luxembourg and registered with the Luxembourg Trade  and Companies Register under number B 40630 as Borrower and as Guarantor under Article IX of the  Credit Agreement, the Lenders from time to time party thereto, The Bank of Nova Scotia, as administrative  agent for the Lenders (the “Administrative Agent”) and the other agents party thereto. Capitalized terms  used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit  Agreement.   [Millicom International Cellular S.A.] [               ]11 (the “Obligor”) hereby requests a Borrowing  under the Credit Agreement as described on Annex I hereto.  The Obligor hereby certifies to the Administrative Agent and the Lenders that as of the date hereof  and as of the date of the making of the requested Borrowing and after giving effect thereto:  (a) The Repeating Representations set forth in the Credit Agreement are and shall be  true and correct in all material respects (or in all respects if such representation or warranty is qualified by  Material Adverse Effect or other materiality qualifier) on and as of the date of such Borrowing (except to  the extent that any such representation and warranty expressly relates to an earlier date, in which case such  representation and warranty is true and correct in all material respects as of such earlier date); and  (b) No Default or Event of Default has occurred and is continuing.  If notice of the requested Borrowing was previously given by telephone, this notice is to be  considered the written confirmation of such telephone notice required by Section 2.03 of the Credit  Agreement.                                                 11  Include Additional Borrower is requesting a Borrowing.  

 

   Exhibit D - 2  0010146-0000535 NYO1: 2000731687.1      [MILLICOM INTERNATIONAL CELLULAR S.A.]     [ADDITIONAL BORROWER]      By:    Name:  Title:      By:    Name:  Title:               

 

   Exhibit D - 3  0010146-0000535 NYO1: 2000731687.1  Annex I  to  Borrowing Request  ______________________________________________________________________________    1. The Business Day of the proposed Borrowing is [________________].  2. The Class of Loan[s] comprising the proposed Borrowing [is a][are] [Swingline Loan[s]]  [Revolving Loan[s]].  3.  The Type of Loan[s] comprising the proposed Borrowing [is a][are] [ABR Loan[s]] [Eurodollar  Loan[s]].  4. The aggregate amount of [the] [each] Loan is [as follows]:  (a) [Swingline Loans: $___________.]  (b) [Revolving Loans]:   [ABR Loan: $___________.]   [Eurodollar Loan: $___________, with an initial Interest Period of [___]  month[s].]   5. The location and number of the Obligor’s account to which funds of the proposed Borrowing are  to be disbursed is:   (a) Bank Name: [____________].  (b) Address: [____________].  (c) Account Number: [____________].  

 

EXHIBIT E   Exhibit E - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF  LETTER OF CREDIT REQUEST  Date:  ____________, 20__  The Bank of Nova Scotia,  as Administrative Agent  720 King Street West, 4th Floor  Toronto, Ontario, Canada M5V 2T3  Attention: Tyrone Nicholson  Email: Tyrone.nicholson@scotiabank.com  GWSLoanOps.Intl@scotiabank.com    Ladies and Gentlemen:  Reference is made to that certain Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit  Agreement”), among Millicom International Cellular S.A., a limited liability company (société anonyme)  organized under the laws of the Grand Duchy of Luxembourg, with its domicile and principal place of  business located at 2 rue du Fort Bourbon, L-1249, Luxembourg and registered with the Luxembourg Trade  and Companies Register under number B 40630 as Borrower and as Guarantor under Article IX of the  Credit Agreement, the Lenders from time to time party thereto, The Bank of Nova Scotia, as administrative  agent for the Lenders (the “Administrative Agent”) and the other agents party thereto. Capitalized terms  used herein and not otherwise defined herein shall have the meanings assigned to them in the Credit  Agreement.   [Millicom International Cellular S.A.] [               ]12 (the “Obligor”) hereby requests an  [issuance][amendment][renewal][extension] of a Letter of Credit under the Credit Agreement as  described on Annex I hereto.  The Obligor hereby certifies to the Administrative Agent and the Lenders that as of the date hereof  and as of the date of the making of the requested [issuance][amendment][renewal][extension] and after  giving effect thereto:  (c) The Repeating Representations set forth in the Credit Agreement are and shall be  true and correct in all material respects (or in all respects if such representation or warranty is qualified by  Material Adverse Effect or other materiality qualifier) on and as of the date of such  [issuance][amendment][renewal][extension] of such Letter of Credit (except to the extent that any such  representation and warranty expressly relates to an earlier date, in which case such representation and  warranty is true and correct in all material respects as of such earlier date); and  (d) No Default or Event of Default has occurred and is continuing.                                                 12  Include Additional Borrower is requesting a Borrowing.  

 

   Exhibit E - 2  0010146-0000535 NYO1: 2000731687.1     [MILLICOM INTERNATIONAL CELLULAR S.A.]     [ADDITIONAL BORROWER]      By:    Name:  Title:      By:    Name:  Title:         

 

   Exhibit E - 3  0010146-0000535 NYO1: 2000731687.1  Annex I  to  Letter of Credit Request  ______________________________________________________________________________    1. The information related to the Letter of Credit to be [issued][amended][renewed][extended] is as  follows:  [(a) The Letter of Credit to be [amended][renewed][extended] is that certain standby  letter of credit No. [____] dated [_____], 20[__] issued by [____] in favor of  [___].]13  (b) The Business Day of the proposed [issuance][amendment][renewal][extension] is  [_____].  [(c) The expiration date of the Letter of Credit is [_____].  (d) The amount of the Letter of Credit is [_____].  (e) The name and address of the beneficiary of the Letter of Credit is:  (a) Beneficiary Name: [____________].  (b) Address: [____________].  (c) Account Number: [____________].]14                                                   13  Include only if amending, renewing or extending an outstanding Letter of Credit.  14  Include (c), (d) or (e) as applicable.  

 

  Exhibit F - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF   ESG REPORTING CERTIFICATE      To: The Bank of Nova Scotia, as Administrative Agent   From: Millicom International Cellular S.A.  Dated: [  ]    Millicom International Cellular S.A. – US$600,000,000 Senior Unsecured   Revolving Facility dated October 15, 2020    Reference is hereby made to the Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among  Millicom International Cellular S.A., a limited liability company (société anonyme) organized under the  laws of the Grand Duchy of Luxembourg (the “Borrower”), as Borrower and (if applicable) as Guarantor,  The Bank of Nova Scotia, as Administrative Agent and each Lender from time to time party thereto.   Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms  in the Credit Agreement or in Schedule II thereto, as applicable.  This is an “ESG Reporting Certificate” referred to in the Credit Agreement.   Pursuant to Section 5.01(c)(ii) of the Credit Agreement, the undersigned, solely in his/her  capacity as a [Chief Executive Officer][Chief Financial Officer]15 of the Borrower and not in his/her  individual capacity, hereby certifies that:  a. The information set forth on Schedule 1 attached hereto is true and accurate on and as of  December 31 of the Financial Year immediately preceding the date hereof (the “Specified  Financial Year”).  b. Attached hereto as Annex A is the ESG Assurance Provider’s Certificate.      [Signature Page Follows]                                                15  Select as appropriate.  

 

  Exhibit F - 2  0010146-0000535 NYO1: 2000731687.1   IN WITNESS WHEREOF, the undersigned has executed or caused this ESG Reporting  Certificate to be executed as of the date first written above.    MILLICOM INTERNATIONAL CELLULAR S.A., as  the Borrower     By:    _________________________________________  Name:  Title:    By:    _________________________________________  Name:  Title:    

 

  Exhibit F - 3  0010146-0000535 NYO1: 2000731687.1  SCHEDULE I  to ESG Reporting Certificate    I. ESG Target 1 performance for the Specified Financial Year.  a. The result of the CPE Recovery Approach Metric for the Specified Financial Year is:  _____% (the “CPE Recovery Result”).  b. The ESG Target 1 Annual Target for the Specified Financial Year as set forth in  Schedule II of the Credit Agreement is: _____%.  c. Is the CPE Recovery Result for the Specified Financial Year (Line I.a.) equal to or  greater than the ESG Target 1 Annual Target for the Specified Financial Year (Line I.b.)?  _______. (Yes/No)  d. Was the ESG Target 1 Annual Target achieved for the Specified Financial Year?  _______. (Yes if the answer to Line I.c is yes/ No if the answer to Line I.c is no)  II. ESG Target 2 performance for the Specified Financial Year.  a. The result of the Supplier CR Training Program Metric for the Specified Financial Year   is: _____% (the “Supplier CR Training Program Result”).  b. The ESG Target 2 Annual Target for the Specified Financial Year as set forth in  Schedule II of the Credit Agreement is: _____%.  c. Is the Supplier CR Training Program Result for the Specified Financial Year (Line II.a.)  equal to or greater than the ESG Target 2 Annual Target for the Specified Financial Year  (Line II.b.)? _______. (Yes/No)  d. Was the ESG Target 2 Annual Target achieved for the Specified Financial Year?  _______. (Yes if the answer to Line II.c is yes/ No if the answer to Line II.c is no)  III. ESG Target 3 performance for the Specified Financial Year.  a. The result of the Conectadas Program Metric for the Specified Financial Year is:  ________ (the “Conectadas Program Result”).  b. The ESG Target 3 Annual Target for the Specified Financial Year as set forth in  Schedule II of the Credit Agreement is: _______.  c. Is the Conectadas Program Result for the Specified Financial Year (Line III.a.) equal to  or greater than the ESG Target 3 Annual Target for the Specified Financial Year (Line  III.b.)? _______. (Yes/No)  d. Was the ESG Target 3 Annual Target achieved for the Specified Financial Year?  _______ (Yes if the answer to Line III.c is yes/ No if the answer to Line III.c is no)  IV. ESG Target 4 performance for the Specified Financial Year.  a. The result of the MCP Metric for the Specified Financial Year is: ________ (the “MCP  Result”).  

 

  Exhibit F - 4  0010146-0000535 NYO1: 2000731687.1  b. The ESG Target 4 Annual Target for the Specified Financial Year as set forth in  Schedule II of the Credit Agreement is: _______.  c. Is the MCP Result for the Specified Financial Year (Line IV.a.) equal to or greater than  the ESG Target 4 Annual Target for the Specified Financial Year (Line IV.b.)? _______.  (Yes/No)  d. Was the ESG Target 4 Annual Target achieved for the Specified Financial Year?  _______. (Yes if the answer to Line IV.c is yes/ No if the answer to Line I.V is no)  V. ESG-Based Pricing Ratchet.  a. Based on the answers to the questions in Lines I.d, II.d, III.d and IV.d above, the number  of ESG Targets achieved for the Specified Financial Year is: _____.  b. Based on the answer to Line V.a, the ESG Performance Outcome is: [ESG Full  Discount]16 [ESG Partial Discount]17 [ESG Non-Adjustment]18 [ESG Partial Premium]19  [ESG Full Premium].20  c. For purposes of the Applicable Margin, the ESG-Based Pricing Ratchet based on the  ESG Pricing Scale is: [-0.10%]21 [-0.05%]22 [0%]23 [+0.05%]24 [+0.10%].25                                                         16  Select if four ESG Targets have been achieved for the Specified Financial Year.  17  Select if three ESG Targets have been achieved for the Specified Financial Year.  18  Select if two ESG Targets have been achieved for the Specified Financial Year.  19  Select if one ESG Target has been achieved for the Specified Financial Year.  20  Select if zero ESG Targets have been achieved for the Specified Financial Year.  21  Select if the answer to Line V.b is ESG Full Discount.  22  Select if the answer to Line V.b is ESG Partial Discount.  23  Select if the answer to Line V.b is ESG Non-Adjustment.  24  Select if the answer to Line V.b is ESG Partial Premium.  25  Select if the answer to Line V.b is ESG Full Premium.  

 

  Exhibit F - 5  0010146-0000535 NYO1: 2000731687.1  ANNEX A  Form of ESG Assurance Provider’s Certificate26    ERM Certification and Verification Services (the “ESG Assurance Provider”)    To: The Bank of Nova Scotia, as Administrative Agent   Dated: [  ]      Reference is hereby made to the Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among  Millicom International Cellular S.A., a limited liability company (société anonyme) organized under the  laws of the Grand Duchy of Luxembourg (the “Borrower”), as Borrower and (if applicable) as Guarantor,  The Bank of Nova Scotia, as Administrative Agent and each Lender from time to time party thereto.  Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms  in the Credit Agreement.  The undersigned, solely in his/her capacity as an officer of the ESG Assurance Provider and not  in his/her individual capacity, hereby certifies that:  1. The ESG Assurance Provider was engaged by the Borrower to provide limited assurance in  relation to whether the information set forth in Schedule I of the ESG Reporting Certificate  delivered for the Financial Year [____] (the “ESG Target Metrics”) is fairly presented in all  material respects in accordance with the reporting criteria.  2. Based on our activities, nothing has come to our attention to indicate that the ESG Target  Metrics are not fairly presented, in all material respects in accordance with the reporting  criteria.  [Signature Page Follows]                                                 26  NTD: Subject to review by ERM CVS.  

 

EXHIBIT F       Exhibit F - 6  0010146-0000535 NYO1: 2000731687.1    IN WITNESS WHEREOF, the undersigned has executed or caused this certificate to be executed  as of the date first written above.    ERM Certification and Verification Services (ERM  CVS)    By:    _________________________________________  Name:  Title:          

 

EXHIBIT G       Exhibit G - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF   PROMISSORY NOTE   New York, New York  $[●] [●], 2020  FOR VALUE RECEIVED, the undersigned, [MILLICOM INTERNATIONAL CELLULAR  S.A., company (société anonyme) incorporated under the laws of Luxembourg, having its registered office at 2,  rue du Fort Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and  Companies under number B. 40.630] [[_____] a [______]]27 (the “Obligor”), hereby promises to pay to the order  of [●] (the “Lender”) in care of the Administrative Agent to the Administrat ive Agent’s address at 720 King  Street West, 4th Floor, Toronto, Ontario, Canada M5V 2T3, or at such other address as may be specified in  writing by the Administrative Agent to the Obligor, in lawful currency of the United States of America in  immediately available funds, the principal sum of [_____] DOLLARS ($[__]) or, if less, the aggregate unpaid  principal amount of all Loans represented by this note (this “Note”) and made by the Lender pursuant to the  Revolving Credit Agreement dated as of October 15, 2020 (as amended, restated, amended and restated,  supplemented or otherwise modified from time to time, the “Credit Agreement”), among Millicom International  Cellular S.A., the Lenders and Issuing Banks from time to time party thereto and The Bank of Nova Scotia, as  Administrative Agent. Capitalized terms used herein and not defined herein shall have the respective meanings  ascribed to such terms in the Credit Agreement. Unless otherwise provided herein, the rules of interpretation set  forth in Article I of the Credit Agreement shall be applicable to this Note.  The Obligor also promises to pay (a) principal at the times provided in the Credit Agreement  and (b) interest on the unpaid principal amount of Loans  represented by this Note and made by the Lender  pursuant to the Credit Agreement in like money to the applicable account from the date hereof until paid at the  rates and at the times provided in the Credit Agreement. The entire outstanding principal amoun t of this Note,  together with all accrued but unpaid interest thereon, shall be due and payable in full on the Maturity Date. The  Lender may endorse the record relating to this Note with appropriate notations evidencing advances and  payments of principal hereunder as contemplated by the Credit Agreement.  This Note is one of the promissory notes referred to in Section 2.11(c) of the Credit Agreement,  is entitled to the benefits of, and is subject to the provisions the Credit Agreement and of the other Loan  Documents.  As provided in the Credit Agreement, this Note is subject to prepayment, in whole or in part,  without premium or penalty (subject to the provisions of Section 2.16 of the Credit Agreement, if applicable).   This Note may only be transferred to the extent and in the manner, and subject to the conditions, set forth in the  Credit Agreement.  If an Event of Default shall occur and be continuing, the principal amount of, together with  accrued and unpaid interest on, this Note may be declared to be due and payable in the manner and with the  effect provided in the Credit Agreement.  The Obligor hereby waives presentment, demand, protest or notice of any kind in connection  with this Note (except for notices expressly required by the Credit Agreement).                                                 27  Include if Note is executed by Additional Borrower.  

 

   Exhibit G - 2  0010146-0000535 NYO1: 2000731687.1    THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE  GOVERNED BY THE LAW OF THE STATE OF NEW YORK.    MILLICOM INTERNATIONAL CELLULAR S.A., as  Obligor  By: ____________________________________  Name:  Title:  By: ____________________________________  Name:  Title:    [[ADDITIONAL BORROWER], as Obligor  By: ____________________________________  Name:  Title:]        

 

EXHIBIT H           Exhibit H - 1  0010146-0000535 NYO1: 2000731687.1  FORM OF   INTEREST ELECTION REQUEST    Date:  ____________, 20__  The Bank of Nova Scotia,  as Administrative Agent  720 King Street West, 4th Floor  Toronto, Ontario, Canada M5V 2T3  Attention: Tyrone Nicholson  Email: Tyrone.nicholson@scotiabank.com  GWSLoanOps.Intl@scotiabank.com    Ladies and Gentlemen:  Reference is made to that certain Revolving Credit Agreement, dated as of October 15, 2020 (as  amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit  Agreement”), among Millicom International Cellular S.A., a limited liability company (société anonyme)  organized under the laws of the Grand Duchy of Luxembourg, with its domicile and principal place of  business located at 2 rue du Fort Bourbon, L-1249, Luxembourg and registered with the Luxembourg Trade  and Companies Register under number B 40630 as Borrower and as Guarantor under Article IX of the  Credit Agreement, the Lenders from time to time party thereto, The Bank of Nova Scotia, as administrative  agent for the Lenders (the “Administrative Agent”) and the other agents party thereto. Capitalized terms  used in this Interest Election Request (this “Interest Election Request”) and not otherwise defined herein  shall have the meanings assigned to them in the Credit Agreement.   Pursuant to Section 2.08 of the Credit Agreement, the undersigned Obligor is hereby requesting to  convert or continue certain Borrowings as follows28:    [Option A - Conversion of Eurodollar Borrowing  to ABR Borrowing: to convert $___________  in principal amount of presently outstanding Eurodollar Loans with a final Interest Payment Date of  ____________ ____, _____ to ABR Loans on __________ ____, ____, which is a Business Day (the  “Effective Date”).]  [Option B - Conversion of ABR Borrowings to Eurodollar Borrowings: to convert $__________  in principal amount of presently outstanding ABR Loans to Eurodollar Loans on ____________ ____,  _____, which is a Business Day (the “Effective Date”).  The Interest Period for such resulting Eurodollar  Loan is ______29 month[s].]  [Option C - Continuation of Eurodollar Borrowings as Eurodollar Borrowings: to continue as  Eurodollar Borrowings $__________ in presently outstanding Eurodollar Loans with a final Interest                                                 28  Select options below as applicable.  29   Interest Periods available are one, three or six months (or such other period as selected by the Borrower in  an appropriate notice and agreed to by the Administrative Agent (without requiring any further consent or  instructions from the Lenders))  

 

   Exhibit H - 2  0010146-0000535 NYO1: 2000731687.1  Payment Date of ____________ ____, _____ (such date of continuation being a Business Day).  The  Interest Period for such continued Eurodollar Borrowings is ______30 month[s].]  If notice of the requested election was given previously by telephone, this Interest Election Request  is to be considered the  written  confirmation  of  such  telephone  notice  required  by  Section 2.08 of the  Credit Agreement.  [Signature page follows]                                                      30  Interest Periods available are one, three or six months (or such other period as selected by the Borrower in  an appropriate notice and agreed to by the Administrative Agent (without requiring any further consent or  instructions from the Lenders))  

 

   Exhibit H - 3  0010146-0000535 NYO1: 2000731687.1    [MILLICOM INTERNATIONAL CELLULAR S.A.]     [ADDITIONAL BORROWER]      By:    Name:  Title:      By:    Name:  Title:Document

LW Draft – October 26, 2020

    
MILLICOM INTERNATIONAL CELLULAR S.A.
as the Issuer
$500,000,000 4.500% SENIOR NOTES DUE 2031
    
INDENTURE
Dated as of October 27, 2020
    
CITIBANK, N.A., LONDON BRANCH
as Trustee, Transfer Agent and Paying Agent
CITIGROUP GLOBAL MARKETS EUROPE AG
as Registrar
    

TABLE OF CONTENTS
    Page
						
	Article 1 Definitions and Incorporation by Reference
	1

	Section 1.01    Definitions
	1

	Section 1.02    Other Definitions
	27

	Section 1.03    [Reserved]
	28

	Section 1.04    Rules of Construction
	28

	Article 2 The Notes
	29

	Section 2.01    Form and Dating
	29

	Section 2.02    Execution and Authentication
	30

	Section 2.03    Paying Agent, Registrars and Transfer Agents
	30

	Section 2.04    Paying Agent to Hold Money
	30

	Section 2.05    Holder Lists
	31

	Section 2.06    Transfer and Exchange
	31

	Section 2.07    Replacement Notes
	39

	Section 2.08    Outstanding Notes
	39

	Section 2.09    Treasury Notes
	39

	Section 2.10    Temporary Notes
	39

	Section 2.11    Cancellation
	39

	Section 2.12    Defaulted Interest
	40

	Section 2.13    Further Issues
	40

	Section 2.14    CUSIP, ISIN or Common Code Number
	40

	Section 2.15    Deposit of Moneys
	41

	Section 2.16    Agents
	41

	Article 3 Redemption and Prepayment
	41

	Section 3.01    Notices to Trustee
	41

	Section 3.02    Selection of Notes to Be Redeemed or Purchased
	41

	Section 3.03    Notice of Redemption
	42

	Section 3.04    Effect of Notice of Redemption
	43

	Section 3.05    Deposit of Redemption or Purchase Price
	43

	Section 3.06    Notes Redeemed or Purchased in Part
	43

	Section 3.07    Optional Redemption
	44

	Section 3.08    Redemption upon changes in withholding taxes
	45

	Section 3.09    [Reserved]
	46

	Section 3.10    Sinking fund.
	46

	Section 3.11    [Reserved]
	46

	Section 3.12    Offer to Purchase by Application of Excess Proceeds
	46

	Section 3.13    Post-Tender Redemption
	48

	Article 4 Covenants
	48

	Section 4.01    Payment of Notes
	48

	Section 4.02    Maintenance of Office or Agency
	49

	Section 4.03    Provision of financial information
	49

	Section 4.04    Compliance Certificate
	50

	Section 4.05    [Reserved]
	51

	Section 4.06    Stay, Extension and Usury Laws
	51

	Section 4.07    [Reserved]
	51

	Section 4.08    [Reserved]
	51

- 1 -

						
	Section 4.09    Limitation on Debt
	51

	Section 4.10    Limitation on Asset Dispositions
	54

	Section 4.11    [Reserved]
	56

	Section 4.12    Limitation on Liens securing Debt
	56

	Section 4.13    Limitation on lines of business
	56

	Section 4.14    [Reserved]
	57

	Section 4.15    Change of Control
	57

	Section 4.16    Limitation on Guarantees of the Issuer’s Debt by Subsidiaries
	57

	Section 4.17    [Reserved]
	58

	Section 4.18    Payments for consent
	58

	Section 4.19    [Reserved]
	58

	Section 4.20    Maintenance of listing
	58

	Section 4.21    Financial Calculations for Limited Condition Transactions
	59

	Section 4.22    Additional Amounts
	60

	Section 4.23    Suspension of certain covenants when Notes rated investment grade
	62

	Section 4.24    Limitation on Designation of Unrestricted Subsidiaries
	62

	Section 4.25    FATCA
	63

	Article 5 Successors
	64

	Section 5.01    Merger, consolidations and certain sales of assets of the Issuer
	64

	Section 5.02    Successor Corporation Substituted
	65

	Article 6 Defaults and Remedies
	65

	Section 6.01    Events of Default
	65

	Section 6.02    Acceleration
	67

	Section 6.03    Other Remedies
	67

	Section 6.04    Waiver of Past Defaults
	67

	Section 6.05    Control by Majority
	67

	Section 6.06    Limitation on Suits
	68

	Section 6.07    Right of Holders of Notes to Receive Payment
	68

	Section 6.08    Collection Suit by Trustee
	69

	Section 6.09    Trustee May File Proofs of Claim
	69

	Section 6.10    Priorities
	69

	Section 6.11    Undertaking for Costs
	69

	Section 6.12    Restoration of Rights and Remedies
	70

	Section 6.13    Rights and Remedies Cumulative
	70

	Section 6.14    Delay or Omission Not Waiver
	70

	Article 7 Trustee
	70

	Section 7.01    Duties of Trustee
	70

	Section 7.02    Rights of Trustee
	71

	Section 7.03    Individual Rights of Trustee
	73

	Section 7.04    Trustee’s Disclaimer
	74

	Section 7.05    Notice of Defaults
	74

	Section 7.06    [Reserved]
	74

	Section 7.07    Compensation and Indemnity
	74

	Section 7.08    Replacement of Trustee
	75

	Section 7.09    Successor Trustee by Merger, etc.
	76

	Section 7.10    Eligibility; Disqualification
	76

	Section 7.11    Agents
	76

	Article 8 Legal Defeasance and Covenant Defeasance
	77

- 2 -

						
	Section 8.01    Option to Effect Legal Defeasance or Covenant Defeasance
	77

	Section 8.02    Legal Defeasance and Discharge
	77

	Section 8.03    Covenant Defeasance
	77

	Section 8.04    Conditions to Legal or Covenant Defeasance
	78

	Section 8.05    Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	79

	Section 8.06    Repayment to Issuer
	79

	Section 8.07    Reinstatement
	79

	Article 9 Amendment, Supplement and Waiver
	80

	Section 9.01    Without Consent of Holders
	80

	Section 9.02    With Consent of Holders
	81

	Section 9.03    Revocation and Effect of Consents
	82

	Section 9.04    Notation on or Exchange of Notes
	82

	Section 9.05    Trustee to Sign Amendments, etc.
	82

	Article 10 [Reserved]
	83

	Article 11 [Reserved]
	83

	Article 12 [Reserved]
	83

	Article 13 Satisfaction and Discharge
	83

	Section 13.01    Satisfaction and Discharge
	83

	Section 13.02    Application of Trust Money
	83

	Article 14 Miscellaneous
	84

	Section 14.01    Notices
	84

	Section 14.02    [Reserved]
	85

	Section 14.03    Certificate and Opinion as to Conditions Precedent
	85

	Section 14.04    Statements Required in Certificate or Opinion
	86

	Section 14.05    Rules by Trustee and Agents
	86

	Section 14.06    Agent for Service; Submission to Jurisdiction; Waiver of Immunities
	86

	Section 14.07    No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders
	86

	Section 14.08    Governing Law
	87

	Section 14.09    No Adverse Interpretation of Other Agreements
	87

	Section 14.10    Successors
	87

	Section 14.11    Severability
	87

	Section 14.12    Counterpart Originals
	87

	Section 14.13    Table of Contents, Headings, etc.
	88

	Section 14.14    Judgment Currency
	88

	Section 14.15    Prescription
	88

	Section 14.16    Contractual Recognition of Bail-In Powers
	88

EXHIBITS
Exhibit A    FORM OF NOTE
Exhibit B    FORM OF CERTIFICATE OF TRANSFER
Exhibit C    FORM OF CERTIFICATE OF EXCHANGE

- 3 -

INDENTURE (this “Indenture”), dated as of October 27, 2020, among Millicom International Cellular S.A. (the “Issuer”), a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg, Luxembourg and registered with the Luxembourg Trade and Companies Register under the number B 40630 and Citibank, N.A., London Branch, as Trustee, Transfer Agent and Paying Agent, and Citigroup Global Markets Europe AG as Registrar.
The Issuer and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined below) of the 4.500% Senior Notes due 2031 in an aggregate principal amount of $500,000,000 (the “Initial Notes”) and the Holders of any Additional Notes (as defined below and, together with the Initial Notes, the “Notes”).
Article 1.
Definitions and Incorporation
by Reference
Section 1.01     Definitions

“Acquired Debt” means Debt of a Person or its Subsidiary:
a.Incurred and outstanding on the date on which such Person (i) was acquired by the Issuer or any of its Restricted Subsidiaries or (ii) is merged, consolidated, amalgamated or otherwise combined with (including pursuant to any acquisition of assets and assumption of related liabilities) the Issuer or its Restricted Subsidiary; or
b.Incurred to provide all or part of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary of the Issuer or was otherwise acquired by the Issuer or its Restricted Subsidiary; provided that, after giving pro forma effect to the transactions by which such Person became a Restricted Subsidiary of the Issuer or is merged, consolidated, amalgamated or otherwise combined with the Issuer or its Restricted Subsidiary, (i) the Issuer would have been able to Incur $1.00 of additional Debt pursuant to Section 4.09(a) hereof; or (ii) the Net Leverage Ratio would not be greater than such ratio before giving effect to such transactions.

“Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with Section 2.02 hereof, as part of the same series as the Initial Notes.
“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.
“Agent” means any Registrar, co-registrar, Transfer Agent, Authenticating Agent, Paying Agent or additional paying agent.
 “Applicable Procedures” means, with respect to any transfer or exchange of or for Book-Entry Interests in any Global Note, the rules and procedures of DTC that apply to such transfer or exchange.
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“Applicable Redemption Premium” means, with respect to any Note on any redemption date, the greater of:
a.1% of the principal amount of such Note at such time; and
b.the excess of:

(i) the present value at such redemption date of: (x) the redemption price of such Note at April 27, 2026 (such redemption price being set forth in Section 3.07(e)); plus (y) all required interest payments that would otherwise be due to be paid on such Note during the period between the redemption date and April 27, 2026 (excluding accrued but unpaid interest), computed using a discount rate equal to the Treasury Rate at such redemption date plus 50 basis points; over
(ii) the outstanding principal amount of such Note.
For the avoidance of doubt, the calculation of the Applicable Redemption Premium shall not be a duty or obligation of the Trustee, the Registrar, the Transfer Agent or the Paying Agent and shall be notified by the Issuer to the Trustee, the Paying Agent and the Holders no less than two (2) Business Days prior to any redemption date.
“Asset Disposition” means any transfer, conveyance, sale, lease or other disposition by the Issuer or any of its Restricted Subsidiaries (including a consolidation or merger or other sale of any such Restricted Subsidiary with, into or to another Person in a transaction in which such Restricted Subsidiary ceases to be a Restricted Subsidiary of the Issuer, but excluding a disposition by a Restricted Subsidiary of the Issuer to the Issuer or a Restricted Subsidiary of the Issuer which is an 80% or more owned Restricted Subsidiary of the Issuer) of (i) shares of Capital Stock (other than directors’ qualifying shares and shares to be held by third parties to satisfy applicable legal requirements) or other ownership interests of a Restricted Subsidiary of the Issuer, (ii) substantially all of the assets of the Issuer or any of its Restricted Subsidiaries representing a division or line of business or (iii) other assets or rights of the Issuer or any of its Restricted Subsidiaries outside of the ordinary course of business; provided that the term “Asset Disposition” shall not include:
a.any dispositions of assets in a single transaction or series of transactions with an aggregate Fair Market Value in any calendar year of not more than the greater of (x) $25 million and (y) 1% of Total Assets (with unused amounts in any calendar year being carried over to the next succeeding year subject to a maximum of the greater of $25 million and 1% of Total Assets of carried over amounts for any calendar year);
b.any disposition of Tower Equipment, including any Sale/Leaseback Transaction; provided that any cash or Cash Equivalents received in connection with such disposition or Sale/Leaseback Transaction must be applied in accordance with Section 4.10.
c.a transfer of assets between or among the Issuer and any of its Restricted Subsidiaries;
d.the issuance of Capital Stock by a Restricted Subsidiary to the Issuer or to another Restricted Subsidiary of the Issuer;
e.any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a Person (other than the Issuer or its Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made as part of 
2

such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition;
f.the sale, lease or other transfer of products, services, accounts receivable, inventory or other assets in the ordinary course of business and any sale or other disposition of damaged, surplus, worn-out or obsolete assets;
g.dispositions in connection with Permitted Liens;
h.disposals of assets, rights or revenue not constituting part of the Related Business and other disposals of non-core assets acquired in connection with any acquisition permitted under this Indenture;
i.licenses and sublicenses of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business;
j.any surrender or waiver of contract rights or settlement, release, recovery on or surrender of contract, tort or other claims in the ordinary course of business;
k.the disposition of receivables in connection with the compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings;
l.the granting of Liens not prohibited by Section 4.12 hereof;
m.a transfer or disposition of assets that is governed by the provisions of this Indenture described under Section 5.01 hereof;
n.the sale or other disposition of cash or Cash Equivalents;
o.the foreclosure, condemnation or any similar action with respect to any property or other assets;
p.sales of accounts receivable and related assets or an interest therein of the type specified in the definition of “Qualified Receivables Transaction” to a Receivables Entity, and Investments in a Receivables Entity consisting of cash or Securitization Obligations;
q.any disposition or expropriation of assets or Capital Stock which the Issuer or any Restricted Subsidiary is required by, or made in response to concerns raised by, a regulatory authority or court of competent jurisdiction;
r.any disposition of Capital Stock, Debt or other securities of an Unrestricted Subsidiary;
s.disposal of non-core assets acquired in connection with any acquisition permitted under this Indenture;
t.any disposition of assets to a Person who is providing services related to such assets, the provision of which have been or are to be outsourced by the Issuer or any Restricted Subsidiary to such Person;
u.any disposition of investments in joint ventures to the extent required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set forth in joint venture arrangements and similar binding agreements; provided that any cash or Cash Equivalents received in such disposition is applied in accordance with the requirements set forth in Section 4.10;
3

v.any sale or disposition with respect to property built, repaired, improved, owned or otherwise acquired by the Issuer or any Subsidiary pursuant to customary sale and leaseback transactions, asset securitizations and other similar financings permitted by this Indenture; 
w.any dispositions constituting the surrender of tax losses by the Issuer or a Restricted Subsidiary (i) to Issuer or a Restricted Subsidiary; (ii) in order to eliminate, satisfy or discharge any tax liability of any Person that was formerly a Subsidiary of the Issuer which has been disposed of pursuant to a disposal permitted by the terms of this Indenture, to the extent that the Issuer or a Restricted Subsidiary would have a liability (in the form of an indemnification obligation or otherwise) to one or more Persons in relation to such tax liability if not so eliminated, satisfied or discharged; and
x.any other disposal of assets not described in clauses (a) to (w) above comprising in aggregate percentage value 10% or less of Total Assets.
“Bankruptcy Law” means (a) Title 11 of the U.S. Code (as may be amended from time to time) or (b) any other law of the United States (or any political subdivision thereof), the British Virgin Islands (or any political subdivision thereof), Curaçao (or any political subdivision thereof), the Netherlands (or any political subdivision thereof), Luxembourg (or any political subdivision thereof), England (or any political subdivision thereof), Chad (or any political subdivision thereof), Ghana (or any political subdivision thereof), Tanzania (or any political subdivision thereof), DRC (or any political subdivision thereof), Senegal (or any political subdivision thereof) or the laws of any other relevant jurisdiction or any political subdivision thereof relating to bankruptcy, insolvency, receivership, winding up, liquidation, reorganization or relief of debtors.
“Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning.
“Board of Directors” means:
a.with respect to any corporation, the board of directors or managers of the corporation (which, in the case of any corporation having both a supervisory board and an executive or management board, shall be the executive or management board) or any duly authorized committee thereof;
b.with respect to any partnership, the board of directors of the general partner of the partnership or any duly authorized committee thereof;
c.with respect to a limited liability company, the managing member or members (or analogous governing body) or any controlling committee of managing members thereof; and
d.with respect to any other Person, the board or any duly authorized committee thereof or committee of such Person serving a similar function.
“Book-Entry Interest” means a beneficial interest in a Global Note held by or through a Participant.
4

“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York, London or Luxembourg, are authorized or obligated by law or executive order to close.
 “Capital Lease Obligation” of any Person means the obligation to pay rent or other payment amounts under a lease of real or personal property of such Person which is required to be classified and accounted for as a capital lease on the face of a statement of financial position of such Person in accordance with IFRS. The Stated Maturity of such obligation shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. The principal amount of Debt represented by such obligation shall be the capitalized amount thereof that would appear on the face of a statement of financial position of such Person in accordance with IFRS.
“Capital Stock” of any Person means any and all shares, interests, participation or other equivalents (however designated) of corporate stock or other equity participation, including partnership interests, whether general or limited, of such Person.
“Cash Equivalents” means, with respect to any Person:
a.(i) Government Securities and (ii) any direct obligations of, or obligations guaranteed by, a member of the European Union or the United Kingdom for the payment of which obligations or guarantees are backed by the full faith and credit of such member of the European Union or the United Kingdom is pledged and which have a remaining Weighted-Average Life to Maturity of not more than one year from the date of Investment therein;
b.term deposit accounts (excluding current and demand deposits), certificates of deposit, time deposits, money market deposits and bankers’ acceptances, in each case, issued by or held with (i) any lender to the Revolving Credit Facility, and their respective Affiliates, (ii) any bank or trust company which is organized under the laws of the United States of America, any state thereof, the United Kingdom, Switzerland, Canada, Australia or any member state of the European Union, which bank or trust company has capital, surplus and undivided profits aggregating in excess of $100 million (or the foreign currency equivalent thereof) and has outstanding debt which is rated no less than Investment Grade by at least one Rating Agency, or (iii) money market funds rated at least AAA by at least one Rating Agency or managed by any lender to the Revolving Credit Facility;
c.repurchase obligations with a term of not more than seven days for underlying securities of the types described in clause (a) entered into with any financial institution meeting the qualifications specified in clauses (b)(i) or (b)(ii) above;
d.commercial paper having one of the two highest ratings obtainable from any Rating Agency and in each case maturing within 365 days after the date of acquisition;
e.money market funds at least 95% of the assets of which constitute Cash Equivalents of the types described in clauses (a) through (d) of this definition;
f.with respect to any Person organized under the laws of, or having its principal business operations in, a jurisdiction outside the United States, the United Kingdom or the European Union, those investments that are of the same type as investments in clauses (a), (c) and (d) of this definition except that the obligor thereon is organized under the laws of the country (or any political subdivision thereof) in which such Person is organized or conducting business; and
g.up to US$100 million in the aggregate of term deposit accounts and overnight deposits held by such Person in countries where any Restricted Subsidiary operates its business.
5

“Change of Control” means the occurrence of any of the following events:
a.any Person becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Issuer, measured by voting power rather than number of shares;
b.the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its respective subsidiaries taken as a whole to any Person occurs; or
c.a plan relating to the liquidation or dissolution of the Issuer is adopted.
“Change of Control Triggering Event” will be deemed to have occurred if a Change of Control has occurred and a Rating Decline occurs.
“Clearstream” means Clearstream Banking, S.A. and its successors.
“Consolidated EBITDA” means, for any period, operating profit of the Issuer and its Restricted Subsidiaries, as such amount is determined on a consolidated basis in accordance with IFRS, plus the sum of the following amounts, in each case, without duplication. Losses shall be added (as a positive number) and gains shall be deducted, in each case, to the extent such amounts were included in calculating operating profit:
a.depreciation and amortization expenses;
b.the net loss or gain on the disposal and impairment of assets;
c.share-based compensation expenses;
d.at the Issuer’s option, other non-cash charges reducing operating profit (provided that if any such non-cash charge represents an accrual of or reserve for potential cash charges in any future period, the cash payment in respect thereof in such future period shall reduce operating profit to such extent, and excluding amortization of a prepaid cash item that was paid in a prior period) less other noncash items of income increasing operating income (excluding any such non-cash item of income to the extent it represents (x) a receipt of cash payments in any future period, (y) the reversal of an accrual or reserve for a potential cash item that reduced operating income in any prior period and (z) any non-cash gains with respect to cash actually received in a prior period so long as such cash did not increase operating income in such prior period);
e.any material extraordinary, one-off, non-recurring, exceptional or unusual gain, loss, expense or charge, including any charges or reserves in respect of any restructuring, redundancy, relocation, refinancing, integration or severance or other post-employment arrangements, signing, retention or completion bonuses, transaction costs, acquisition costs, disposition costs, business optimization, information technology implementation or development costs, costs related to governmental investigations and curtailments or modifications to pension or postretirement benefits schemes, litigation or any asset impairment charges or the financial impacts of natural disasters (including fire, flood and storm and related events);
f.at the Issuer’s option, the effects of adjustments in its consolidated financial statements pursuant to IFRS (including inventory, property, equipment, software, goodwill, intangible assets, in process research and development, deferred revenue and debt line items) attributable to the application of recapitalization accounting or acquisition accounting, as the case may be, in relation to any consummated acquisition or joint venture investment or the amortization or write-off or write-down of amounts thereof, net of taxes;
6

g.any reasonable expenses, charges or other costs related to any Equity Offering, Investment, acquisition, disposition, recapitalization or the Incurrence, waiver or amendment of any Debt (or the refinancing thereof) (whether or not successful or consummated), in each case, as determined in good faith by a responsible financial or accounting officer of the Issuer;
h.any gains or losses on associates;
i.any unrealized gains or losses due to changes in the fair value of equity Investments;
j.any unrealized gains or losses due to changes in the fair value of Permitted Interest Rate, Currency or Commodity Price Agreements;
k.any unrealized gains or losses due to changes in the carrying value of put options in respect of Capital Stock of, or voting rights with respect to, any Subsidiary, joint venture or associate;
l.any unrealized gains or losses due to changes in the carrying value of call options in respect of Capital Stock of, or voting rights with respect to, any Subsidiary, joint venture or associate;
m.any net foreign exchange gains or losses;
n.at the Issuer’s option, any adjustments to reduce the impact of the cumulative effect of a change in accounting principles and changes as a result of the adoption or modification of accounting policies;
o.accruals and reserves that are established or adjusted within twelve months after the closing date of any acquisition that are so required to be established or adjusted as a result of such acquisition that are so required to be established as a result of such acquisition in accordance with IFRS;
p.any expenses, charges or losses to the extent covered by insurance or indemnity and actually reimbursed, or, so long as the Issuer or a Restricted Subsidiary has made a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer or indemnifying party and only to the extent that such amount is in fact reimbursed within 365 days of the date of the insurable or indemnifiable event (net of any amount so added back in any prior period to the extent not so reimbursed within the applicable 365-day period);
q.the amount of proceeds received from business interruption insurance and reimbursements of any expenses and charges that are covered by indemnification or other reimbursement provisions in connection with any acquisition, Investment or any sale, conveyance, transfer or other disposition of assets;
r.any net gain (or loss) realized upon any Sale/Leaseback Transaction that is not sold or otherwise disposed of in the ordinary course of business, determined in good faith by a responsible financial or accounting officer of the Issuer;
s.the amount of loss on the sale or transfer of any assets in connection with an asset securitization program, receivables factoring transaction or other receivables transaction (including, without limitation, a Qualified Receivables Transaction); and
t.Specified Legal Expenses.
For the purposes of calculating Consolidated EBITDA for any period, as of such date of determination:
7

(i) if, since the beginning of such period the Issuer or any Restricted Subsidiary has made any Asset Disposition or disposed of any company, any business, or any group of assets constituting an operating unit of a business (any such disposition, a “Sale”), including any Sale occurring in connection with a transaction causing a calculation to be made hereunder, then Consolidated EBITDA for such period will be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the assets which are the subject of such Sale for such period or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such period;
(ii) if, since the beginning of such period the Issuer or any Restricted Subsidiary (by merger or otherwise) will have made an Investment in any Person that thereby becomes a Restricted Subsidiary, or otherwise acquires any company, any business, or any group of assets constituting an operating unit of a business (any such Investment or acquisition, a “Purchase”), including any such Purchase occurring in connection with a transaction causing a calculation to be made hereunder, then Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Purchase occurred on the first day of such period;
(iii) if, since the beginning of such period any Person (that became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning of such period) will have made any Sale or any Purchase that would have required an adjustment pursuant to clauses (i) or (ii) above if made by the Issuer or a Restricted Subsidiary since the beginning of such period, Consolidated EBITDA for such period will be calculated after giving pro forma effect thereto as if such Sale or Purchase occurred on the first day of such period, including anticipated synergies and cost savings as if such Sale or Purchase occurred on the first day of such period;
(iv) whenever pro forma effect is applied, the pro forma calculations will be as determined in good faith by a responsible financial or accounting officer of the Issuer (including in respect of anticipated synergies and cost savings) as though the full effect of synergies and cost savings were realized on the first day of the relevant period and shall also include the reasonably anticipated full run rate cost savings effect (as calculated in good faith by a responsible financial or chief accounting officer of the Issuer) of cost savings programs that have been initiated by the Issuer or its Restricted Subsidiaries as though such cost savings programs had been fully implemented on the first day of the relevant period; and
(v) for the purposes of determining the amount of Consolidated EBITDA under this definition denominated in a foreign currency, the Issuer may, at its option, calculate the U.S. Dollar equivalent amount of such Consolidated EBITDA based on either (i) the weighted average exchange rates for the relevant period used in the consolidated financial statements of the Issuer for such relevant period or (ii) the relevant currency exchange rate in effect on the Issue Date.
For the purpose of calculating the Consolidated EBITDA of the Issuer, any Joint Venture Consolidated EBITDA shall be added to the amount determined in accordance with the foregoing.
“Consolidated Net Debt” means, as of any date of determination, the sum without duplication of (1) the total amount of Debt of the Issuer and its Restricted Subsidiaries on a consolidated basis in accordance with IFRS, minus (2) the sum without duplication of (i) all Debt outstanding under Minority Shareholder Loans, (ii) any Debt which is a contingent obligation of the Issuer or its Restricted Subsidiaries on such date, (iii) all Debt permitted by clause (3) of Section 4.09(b), (iv) all Debt permitted by clause (17) of Section 4.09(b) and (v) all Debt outstanding under any Capital Lease Obligation or operating lease; minus (3) the amount of cash and Cash Equivalents (other than cash or 
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Cash Equivalents received from the Incurrence of Debt by the Issuer or any of its Restricted Subsidiaries to the extent such cash or Cash Equivalents has not been subsequently applied or used for any purpose not prohibited by this Indenture) of the Issuer and its Restricted Subsidiaries on a consolidated basis that would be stated on the statement of financial position of the Issuer as of such date in accordance with IFRS, excluding, for the avoidance of doubt, Restricted Cash.
“Credit Facility” means, a debt facility, arrangement, instrument, trust deed, note purchase agreement, indenture, purchase money financing, commercial paper facility or overdraft facility with banks or other institutions or investors providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such institutions or to special purpose entities formed to borrow from such institutions against such receivables), letters of credit or other Debt, in each case, as amended, restated, modified, renewed, refunded, replaced, restructured, refinanced, repaid, increased or extended, in whole or in part from time to time, and in each case, including all agreements, instruments and documents executed and delivered pursuant to or in connection with the foregoing (including, but not limited to, any notes and letters of credit issued pursuant thereto and any guarantee and collateral agreement, patent and trademark security agreement, mortgages or letter of credit applications and other guarantees, pledges, agreements, security agreements and collateral documents). Without limiting the generality of the foregoing, the term “Credit Facility” shall include any agreement or instrument (i) changing the maturity of any Debt Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder, (iii) increasing the amount of Debt Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.
“Custodian” means Citibank N.A., London Branch, and any and all successors thereto appointed as Custodian hereunder and having become such pursuant to the applicable provision of this Indenture.
“Debt” means (without duplication), with respect to any Person, whether recourse is to all or a portion of the assets of such Person and whether or not contingent:
a.the principal of and premium, if any, in respect of every obligation of such Person for money borrowed;
b.the principal of and premium, if any, in respect of every obligation of such Person evidenced by bonds, debentures, notes or other similar instruments;
c.every reimbursement obligation of such person with respect to letters of credit, bankers’ acceptances or similar facilities issued for the account of such Person (but only to the extent such obligations are not reimbursed within 30 days following receipt by such Person of a demand for reimbursement); and
d.the principal component of every obligation of the type referred to in clauses (a) through (c) of another Person and all dividends of another Person the payment of which, in either case, such Person has Guaranteed or is responsible or liable for, directly or indirectly, as obligor, guarantor or otherwise to the extent not otherwise included in the Debt of such Person.
The “amount” or “principal amount” of Debt at any time of determination as used herein represented by (x) any Debt issued at a price that is less than the principal amount at maturity thereof, shall be the amount of the liability in respect thereof determined in accordance with IFRS, (y) any Redeemable Stock, shall be the maximum fixed redemption or repurchase price in respect thereof; and (z) any amount of Debt that has been cash-collateralized, to the extent so cash-collateralized, shall be excluded from any calculation of Debt. Notwithstanding anything else to the contrary, for all purposes under this Indenture, the amount of Debt Incurred, repaid, redeemed, repurchased or otherwise 
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acquired by a Restricted Subsidiary of the Issuer shall equal the liability in respect thereof determined in accordance with IFRS and reflected on the Issuer’s consolidated statement of financial position.
The term “Debt” shall not include:
(i) obligations described in clauses (a) or (b) of the first paragraph of this definition of Debt that are Incurred by a Restricted Subsidiary of the Issuer (the “Proceeds Recipient”) and owed to a bank or other lending institution (the “OnLend Bank”) to facilitate the substantially concurrent on-lending of proceeds (the “Proceeds On-Loan”) from Debt Incurred by the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) as permitted by Section 4.09 hereof to the extent (i) the principal obligations in respect of the Proceeds On-Loan are secured by security over cash granted in favor of the On-Lend Bank or any of its affiliates in an amount not less than the principal amount of the Proceeds On-Loan or (ii) the Proceeds On-Loan is put in place substantially concurrently with a loan by the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) to the On-Lend Bank (the “OnLend Bank Borrowing”) pursuant to which the Proceeds Recipient is entitled to reduce the principal amount of the Proceeds On-Loan by an amount equal to the principal amount of the On-Lend Bank Borrowing if a default or acceleration occurs with respect to such On-Lend Bank Borrowing or (iii) the substantial risks and rewards of the Proceeds On-Loan are transferred, using a synthetic instrument or any other arrangement or agreement, from the On-Lend Bank to the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) in exchange for an amount not less than (x) the amount of cash granted in favor of the On-Lend Bank or any of its Affiliates or (y) the outstanding amount of the On-Lend Bank Borrowing, as applicable, in each case as at the effective date of such transfer;
(ii) any liability of the Issuer or any of its Restricted Subsidiaries (other than the Proceeds Recipient) attributable to a synthetic instrument or any other arrangement or agreement described in paragraph (i)(iii) above to the extent such obligation under the relevant instrument, arrangement or agreement has not come due but is classified as a financial liability in accordance with IFRS and recorded as a current liability on the Issuer’s consolidated statement of financial position;
(iii) any Restricted MFS Cash;
(iv) any liability of the Issuer attributable to a put option or similar instrument, arrangement or agreement entered into after the Issue Date granted by the Issuer relating to an interest in any other entity, in each case to the extent such option has not been exercised or such obligation under the relevant instrument, arrangement or agreement has not come due but is classified as a financial liability in accordance with IFRS, and recorded as a current liability on the Issuer’s consolidated statement of financial position;
(v) any standby letter of credit, performance bond or surety bond provided by the Issuer or any Restricted Subsidiary that are customary in the Related Business to the extent such letters of credit or bonds are not drawn upon or, if and to the extent drawn upon, are honored in accordance with their terms;
(vi) any deposits or prepayments received by the Issuer or a Restricted Subsidiary from a customer or subscriber for its service and any other deferred or prepaid revenue;
(vii) any obligations to make payments in relation to earn outs;
(viii) Debt which is in the nature of equity (other than redeemable shares) or equity derivatives;
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(ix) Capital Lease Obligations or operating leases;
(x) receivables sold or discounted, whether recourse or non-recourse, including for the avoidance of doubt any debt in respect of Qualified Receivables Transactions, including without limitation guarantees by a Receivables Entity of the obligations of another Receivables Entity;
(xi) pension obligations or any obligation under employee plans or employment agreements;
(xii) any “parallel debt” obligations to the extent that such obligations mirror other Debt;
(xiii) any payments or liability for assets acquired or services supplied deferred (including Trade Payables) in accordance with the terms pursuant to which the relevant assets were or are to be acquired or services were or are to be supplied;
(xiv) the principal component or liquidation preference of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Restricted Subsidiary, any Preferred Stock (including, in each case, any accrued dividends); and
(xv) the net obligations of such Person under any Permitted Interest Rate, Currency or Commodity Price Agreement.
“Default” means an event that with the passing of time or the giving of notice, or both would constitute an Event of Default.
“Definitive Registered Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with Sections 2.06, 2.07 and 2.09 hereof, substantially in the form of Exhibit A hereto and bearing the Private Placement Legend, except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.
“Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, DTC, including any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision(s) of this Indenture.
“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event:
a.matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise;
b.is convertible or exchangeable for Debt or Disqualified Stock (excluding Capital Stock which is convertible or exchangeable solely at the option of the Issuer or a Restricted Subsidiary); or
c.is redeemable at the option of the holder of the Capital Stock in whole or in part,
in each case on or prior to the earlier of the date (a) of the Stated Maturity of the Notes or (b) on which there are no Notes Outstanding, provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date will be deemed to be Disqualified Stock; provided, 
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further that any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Issuer to repurchase such Capital Stock upon the occurrence of a change of control or asset sale (each defined in a substantially identical manner to the corresponding definitions in this Indenture) shall not constitute Disqualified Stock if the terms of such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) provide that the Issuer may not repurchase or redeem any such Capital Stock (and all such securities into which it is convertible or for which it is ratable or exchangeable) pursuant to such provision prior to compliance by the Issuer with Sections 4.15 and 4.10 hereof.
“DTC” means The Depository Trust Company and its successors.
 “Equity Offering” means a sale of Qualified Capital Stock of the Issuer or a Holding Company of the Issuer pursuant to which the net cash proceeds are contributed to the Issuer in the form of a subscription for, or a capital contribution in respect of, Qualified Capital Stock of the Issuer.
 “Euro MTF Market” means the Euro MTF Market, the alternative market of the Luxembourg Stock Exchange.
“Euroclear” means Euroclear Bank, SA/NV and its successors.
“European Union” means the European Union as of January 1, 2004 (except for the United Kingdom), including the countries of Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain and Sweden, but not including any country which became or becomes a member of the European Union after January 1, 2004.
“Fair Market Value” means, with respect to any asset or property, the sale value that would be obtained in an arm’s length free market transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy, as determined in good faith by the Issuer’s Chief Executive Officer, Chief Financial Officer or responsible accounting or financial officer.
“Fitch” means Fitch Rating, Ltd. and its successors.
“GAAP” means generally accepted accounting principles in the United States.
“Global Notes” means, individually and collectively, each of the global notes, substantially in the form of Exhibit A hereto, bearing the Private Placement Legend and the Global Note Legend, issued in accordance with Sections 2.01 and 2.06 hereof.
“Global Note Legend” means the legend set forth in Section 2.06(f)(2) hereof, which is required to be placed on all Global Notes issued under this Indenture.
“Government Securities” means direct obligations of, or obligations Guaranteed by, the United States of America (or by any agency thereof) for the payment of which obligations or Guarantee the full faith and credit of the United States is pledged and which have a remaining Weighted-Average Life to Maturity of not more than one year from the date of Investment therein.
“Gradation” means a gradation within a Rating Category or a change to another Rating Category, which shall include: (i) “+” and “-” in the case of Fitch’s current Rating Categories (e.g., a decline from BB+ to BB would constitute a decrease of one gradation), (ii) 1, 2 and 3 in the case of Moody’s current Rating Categories (e.g., a decline from Ba1 to Ba2 would constitute a decrease of one gradation), or (iii) the equivalent in respect of successor Rating Categories of Fitch or Moody’s or Rating Categories used by Rating Agencies other than Fitch and Moody’s.
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“Guarantee” by any Person means any obligation, contingent or otherwise, of such Person guaranteeing, or having the economic effect of guaranteeing, any Debt of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including, without limitation, any obligation of such Person:
a.to purchase or pay (or advance or supply funds for the purchase or payment of) such Debt or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Debt;
b.to purchase property, securities or services for the purpose of assuring the holder of such Debt of the payment of such Debt; or
c.to maintain working capital, equity capital or other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Debt (and “Guaranteed” and “Guaranteeing” shall have meanings correlative to the foregoing); provided, however, that the Guarantee by any Person shall not include endorsements by such Person for collection or deposit, in either case, in the ordinary course of business.
“Holder” means the Person in whose name a Note is recorded on the Registrar’s books.
“Holding Company” means any Person (other than a natural person) which legally and Beneficially Owns more than 50% of the Voting Stock and/or Capital Stock of another Person, either directly or through one or more Subsidiaries.
“IFRS” means the International Financial Reporting Standards promulgated by the International Accounting Standards Board or any successor board or agency (and, at the irrevocable option of the Issuer, as adopted by the European Union), as in effect on the Issue Date; provided that the Issuer may, at any time, irrevocably elect by written notice to the Trustee to use IFRS as in effect from time to time, and, upon such notice, references herein to IFRS shall thereafter be construed to mean IFRS as in effect from time to time. The Issuer also may, at any time, irrevocably elect by written notice to the Trustee to use GAAP as in effect from time to time in lieu of IFRS and, upon such notice, references herein to IFRS shall thereafter be construed to mean GAAP as in effect from time to time; provided that upon first reporting its fiscal year results under GAAP, the Issuer shall restate the financial statements required to be delivered under Section 4.03, on the basis of GAAP for the fiscal year ending immediately prior to the first fiscal year for which financial statements have been prepared on the basis of GAAP.
“Incur” means, with respect to any Debt or other obligation of any Person, to create, issue, incur (by conversion, exchange or otherwise), assume, Guarantee or otherwise become liable in respect of such Debt or other obligation, including by acquisition of Subsidiaries (the Debt of any other Person becoming a Subsidiary of such Person being deemed for this purpose to have been incurred at the time such other Person becomes a Subsidiary), or the recording, as required pursuant to IFRS or otherwise, of any such Debt or other obligation on the statement of financial position of such Person (and “Incurrence,” “Incurred,” “Incurrable” and “Incurring” shall have meanings correlative to the foregoing); provided, however, that a change in IFRS that results in an obligation of such Person that exists at such time becoming Debt shall not be deemed an Incurrence of such Debt. If any Person becomes a Restricted Subsidiary on any date after the date of this Indenture (including by Redesignation of an Unrestricted Subsidiary), the Debt of such Person outstanding on such date will be deemed to have been Incurred by such Person on such date for purposes of Section 4.09.
“Indenture” means this Indenture, as amended or supplemented from time to time.
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“Indirect Participant” means a Person who holds a Book-Entry Interest in a Global Note through a Participant.
“Interest Rate, Currency or Commodity Price Agreement” of any Person means any forward contract, futures contract, swap, option or other financial agreement or arrangement (including, without limitation, caps, floors, collars and similar agreements) relating to, or the value of which is dependent upon, interest rates, currency exchange rates or commodity prices or indices (excluding contracts for the purchase or sale of goods in the ordinary course of business).
“Investment” by any Person means any direct or indirect loan, advance or other extension of credit or capital contribution (by means of transfers of cash or other property to others or payments for property or services for the account or use of others, or otherwise) to, or purchase or acquisition of Capital Stock, bonds, notes, debentures or other securities or evidence of Debt issued by, any other Person, including any payment on a Guarantee of any obligation of such other Person, together with all items that are or would be classified as Investments on a statement of financial position (excluding the footnotes thereto) prepared in accordance with IFRS, but shall not include (a) trade accounts receivable in the ordinary course of business on credit terms made generally available to the customers of such Person, or (b) commission, travel, payroll, entertainment, relocation and similar advances to officers and employees and profit sharing and other employee benefit plan contributions made in the ordinary course of business. Except as otherwise provided in this Indenture, the amount of an Investment will be determined at the time the Investment is made and without giving effect to a subsequent change in value and, to the extent applicable, shall be determined based on the equity value of such Investment.
“Investment Grade” means (i) BBB- or above in the case of Fitch (or its equivalent under any successor Rating Categories of Fitch), (ii) Baa3 or above, in the case of Moody’s (or its equivalent under any successor Rating Categories of Moody’s), and (iii) the equivalent in respect of the Rating Categories of any Rating Agencies.
“Issue Date” means October 27, 2020.
“Issuer” means Millicom International Cellular S.A.
“Joint Venture Consolidated EBITDA” means an amount equal to the product of (i) the Consolidated EBITDA of any joint venture (determined in good faith by a responsible financial or accounting officer of the Issuer on the same basis as provided for in the definition of “Consolidated EBITDA” (with the exception of clause (i) and the last sentence thereof) as if each reference to the “Issuer and its Restricted Subsidiaries” in such definition was to such joint venture) whose financial results are not consolidated with those of the Issuer in accordance with IFRS and (ii) a percentage equal to the direct or indirect equity ownership percentage of the Issuer and/or its Restricted Subsidiaries in the Capital Stock of such joint venture and its Subsidiaries.
“Lien” means, with respect to any property or assets, any mortgage, pledge, security interest, lien, charge, encumbrance, priority or other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such property or assets (including, without limitation, any conditional sale or other title retention agreement having substantially the same economic effect as any of the foregoing).
“Limited Condition Transaction” means (i) any Investment or acquisition, including by way of merger, amalgamation or consolidation, in each case, by one or more of the Issuer and its Restricted Subsidiaries of any assets, business or Person whose consummation is not conditioned on the availability of, or on obtaining, third party financing and (ii) any redemption, repurchase, 
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defeasance, satisfaction and discharge or repayment of Debt requiring irrevocable notice in advance of such redemption, repurchase, defeasance, satisfaction and discharge or repayment.
“Luxembourg” means the Grand Duchy of Luxembourg.
“Minority Shareholder Loan” means Debt of a Restricted Subsidiary of the Issuer that is issued to and held by an equity owner of such Restricted Subsidiary, other than the Issuer or a subsidiary of the Issuer.
“Moody’s” means Moody’s Investor Service, Inc. and its successors.
“Net Available Proceeds” from any Asset Disposition means cash or readily marketable cash equivalents received (including by way of sale or discounting of a note, installment receivable or other receivable, but excluding any assets described in clauses (4) and (5) of Section 4.10(b) hereof and other consideration received in the form of assumption by the acquiror of Debt or other obligations relating to such properties or assets) therefrom by the Issuer or any of its Restricted Subsidiaries, net of:
a.all legal, title and recording tax expenses, commissions and other fees and expenses incurred, including, without limitation, legal, consultant, accounting and investment banking fees, sales commissions, discounts and brokerage costs, and all federal, state, provincial, foreign and local taxes required to be accrued as a liability as a consequence of such Asset Disposition;
b.all payments made by the Issuer or any of its Restricted Subsidiaries, on any Debt which is secured by such assets in accordance with the terms of any Lien upon or with respect to such assets or which must by the terms of such Debt or Lien, or in order to obtain a necessary consent to such Asset Disposition or by applicable law, be repaid out of the proceeds from such Asset Disposition;
c.all distributions and other payments made to other equity holders in the Issuer’s Subsidiaries or joint ventures as a result of such Asset Disposition; and
d.appropriate amounts to be provided by the Issuer or any of its Restricted Subsidiaries, as the case may be, as a reserve in accordance with IFRS, against any liabilities associated with such assets and retained by the Issuer or any of its Restricted Subsidiaries, as the case may be, after such Asset Disposition, including, without limitation, liabilities under any indemnification obligations, relocation costs and severance and other employee termination costs associated with such Asset Disposition, in each case as determined by the Issuer’s Board of Directors, in its reasonable good faith judgment.
“Net Leverage Ratio” means, as of any date of determination, the ratio of (1) the Consolidated Net Debt outstanding on such date to (2) the Consolidated EBITDA for the four most recent full fiscal quarters ending immediately prior to such date for which consolidated financial statements are available, determined, in each case, on a pro forma basis as if any such Debt had been Incurred, or such other Debt had been repaid, redeemed or repurchased, as applicable, at the beginning of such four fiscal quarter period; provided, however, that the pro forma calculation shall not give effect to (i) any Debt Incurred on such determination date pursuant to Section 4.09(b) hereof (other than Debt Incurred pursuant to clause (6) of Section 4.09(b) hereof), or (ii) the discharge on such determination date of any Debt to the extent that such discharge results from the proceeds Incurred pursuant to Section 4.09(b) hereof (other than the discharge of Debt using proceeds of Debt Incurred pursuant to clause (6) of Section 4.09(b) hereof). For the avoidance of doubt, in determining Net Leverage Ratio, no cash or Cash Equivalents shall be included that are the proceeds of Debt in 
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respect of which the pro forma calculation is to be made unless such proceeds are committed to be used for the repayment or refinancing of any Debt.
“Offer to Purchase” means a written offer (the “Offer”) sent by the Issuer by first class mail, postage prepaid, to each Holder at his address appearing on the Registrar’s books on the date of the Offer offering to purchase up to the principal amount of Notes specified in such Offer at the purchase price specified in such Offer (as determined pursuant to this Indenture). Unless otherwise required by applicable law, the Offer shall specify an expiration date (the “Expiration Date”) of the Offer to Purchase which shall be, subject to any contrary requirements of applicable law, not less than 10 days or more than 60 days after the date of such Offer and a settlement date (the “Purchase Date”) for purchase of Notes within five Business Days after the Expiration Date. The Issuer shall notify the Trustee at least 15 Business Days (or such shorter period as is acceptable to the Trustee) prior to the mailing of the Offer of the Issuer’s obligation to make an Offer to Purchase, and the Offer shall be mailed by the Issuer or, at the Issuer’s request, by the Trustee in the name and at the expense of the Issuer. The Offer shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Offer to Purchase. The Offer shall also state:
a.the Section of this Indenture pursuant to which the Offer to Purchase is being made;
b.the Expiration Date and the Purchase Date;
c.the aggregate principal amount of the Outstanding Notes offered to be purchased by the Issuer pursuant to the Offer to Purchase (including, if less than 100%, the manner by which such has been determined pursuant to the Section of this Indenture requiring the Offer to Purchase) (the “Purchase Amount”);
d.the purchase price to be paid by the Issuer for each $1,000 aggregate principal amount of Notes accepted for payment (as specified pursuant to this Indenture) (the “Purchase Price”);
e.that each Holder may tender all or any portion of the Notes registered in the name of such Holder and that any portion of a Note tendered must be tendered in minimum amounts of $200,000 and integral multiples of $1,000 in excess thereof;
f.the place or places where Notes are to be surrendered for tender pursuant to the Offer to Purchase;
g.that interest on any Note not tendered or tendered but not purchased by the Issuer pursuant to the Offer to Purchase will continue to accrue;
h.that on the Purchase Date the Purchase Price will become due and payable upon each Note being accepted for payment pursuant to the Offer to Purchase and that interest thereon shall cease to accrue on and after the Purchase Date;
i.that each Holder electing to tender a Note pursuant to the Offer to Purchase will be required to surrender such Note at the place or places specified in the Offer prior to the close of business on the Expiration Date (such Note being, if the Issuer or the Trustee so requires, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing);
j.that Holders will be entitled to withdraw all or any portion of Notes tendered if the Issuer (or their paying agent) receives, not later than the close of business on the Expiration Date, telex, facsimile transmission or letter setting forth the name of such Holder, the principal amount of 
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the Note such Holder tendered, the certificate number of such Note and a statement that such Holder is withdrawing all or a portion of his tender;
k.that (a) if Notes in an aggregate principal amount less than or equal to the Purchase Amount are duly tendered and not withdrawn pursuant to the Offer to Purchase, the Issuer shall purchase all such Notes and (b) if Notes in an aggregate principal amount in excess of the Purchase Amount are tendered and not withdrawn pursuant to the Offer to Purchase, the Issuer shall purchase Notes having an aggregate principal amount equal to the Purchase Amount on a pro rata basis (with such adjustments as may be deemed appropriate so that only Notes in denominations of $1,000 or integral multiples thereof shall be purchased and provided that Notes of $200,000 or less may only be purchased in whole and not in part); and
l.that in the case of any Holder whose Note is purchased only in part, the Issuer shall execute, and the Trustee shall authenticate and deliver to the Holder of such Note without service charge, a new Note or Notes, of any authorized denomination as requested by such Holder, in an aggregate principal amount equal to and in exchange for the unpurchased portion of the Note so tendered.
Any Offer to Purchase shall be governed by and effected in accordance with the Offer for such Offer to Purchase.
For so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market, and the rules of the Luxembourg Stock Exchange so require, the Issuer will, to the extent and in the manner permitted by such rules, post notices relating to the Offer to Purchase on the official website of the Luxembourg Stock Exchange (www.bourse.lu).
“Offering Memorandum” means the offering memorandum dated October 19, 2020 relating to the offering of the Initial Notes.
“Officer” means the Chief Executive Officer or the Chief Financial Officer of the Issuer or a responsible accounting, financial officer or any authorized signatory of the Issuer.
“Officer’s Certificate” means a certificate signed by the Chairman of the Board of Directors, any Vice Chairman of the Board of Directors, any Director or Manager as the case may be, the Chief Executive Officer, the Chief Financial Officer, any Executive or Senior Vice President, or the Secretary of the Board of the Issuer, and delivered to the Trustee and, where applicable, the paying agent.
“Opinion of Counsel” means a written opinion from legal counsel (in form and substance reasonably acceptable to the Trustee, where such opinion is addressed to, or is for the benefit of the Trustee) that meets the requirements of Section 14.04 hereof. The counsel may be an employee of or counsel to the Issuer or any of its Subsidiaries.
“Outstanding,” when used with respect to the Notes, means, as of the date of determination, all Notes theretofore authenticated and delivered under this Indenture, except:
a.Notes theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;
b.Notes for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee in trust or any paying agent (other than the Issuer) or set aside and segregated in trust by the Issuer (if the Issuer shall act as its own paying agent) for the Holders of 
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such Notes; provided that, if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and
c.Notes which have been paid or in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Notes are held by a bona fide purchaser in whose hands such Notes are valid obligations of the Issuer; provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Notes owned by the Issuer or any other obligor upon the Notes or any Affiliate of the Issuer or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes which the Trustee knows to be so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Notes and that the pledgee is not the Issuer or any other obligor upon the Notes or any Affiliate of the Issuer or of such other obligor.
“Pari Passu Debt” means any Debt of the Issuer that ranks pari passu in right of payment to the Notes.
“Participant” means, with respect to the Depositary, a Person who has an account with the Depositary, which shall include Euroclear and Clearstream.
“Permitted Asset Swap” means the concurrent purchase and sale or exchange of related business assets or a combination of related business assets, cash and Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person.
 “Permitted Interest Rate, Currency or Commodity Price Agreement” of any Person means any Interest Rate, Currency or Commodity Price Agreement entered into with one or more financial institutions in the ordinary course of business that is designed to protect such Person against fluctuations in interest rates or currency exchange rates or with respect to Debt Incurred and which shall have a notional amount no greater than the payments due with respect to the Debt being hedged thereby, or in the case of currency or commodity protection agreements against currency exchange or commodity price fluctuations in the ordinary course of business relating to then existing financial obligations and not for purposes of speculation.
“Permitted Investments” means (1) loans or advances to employees and officers (or loans to any direct or indirect parent, the proceeds of which are used to make loans or advances to employees or officers, or Guarantees of third-party loans to employees or officers) in the ordinary course of business; and (2) customary cash management, cash pooling or netting or setting off arrangements; and (3) the granting of Liens pursuant to clause (ll) of the definition of Permitted Liens.
“Permitted Liens” means:
a.Liens for taxes, assessments or governmental charges or levies on the property of the Issuer or any of its Restricted Subsidiaries if the same shall not at the time be delinquent or thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceeds promptly instituted and diligently concluded; provided that any reserve or other appropriate provision that shall be required in conformity with IFRS shall have been made therefor;
b.Liens imposed by law, such as statutory Liens of landlords’, carriers’, materialmen’s, repairmen’s, construction, warehousemen’s and mechanics’ Liens and other similar Liens, on the 
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property of the Issuer or any of its Restricted Subsidiaries arising in the ordinary course of business or Liens arising solely by virtue of any statutory or common law provisions relating to attorney’s liens or bankers’ liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depositary institution;
c.Liens on the property of the Issuer or any of its Restricted Subsidiaries Incurred in the ordinary course of business to secure performance of obligations with respect to statutory or regulatory requirements, performance bids, trade contracts, letters of credit, performance or return-of-money bonds, surety bonds or other obligations of a like nature and Incurred in a manner consistent with industry practice, in each case which are not Incurred in connection with the borrowing of money, the obtaining of advances or credit or the payment of the deferred purchase price of property and which do not in the aggregate impair in any material respect the use of property in the operation of the business of the Issuer and its Restricted Subsidiaries taken as a whole;
d.Liens on property at the time the Issuer or any of its Restricted Subsidiaries acquired such property and Liens Incurred in anticipation of or in connection with the transaction or series of transactions pursuant to which such property was acquired by the Issuer or its Restricted Subsidiaries; provided, however, that any such Lien may not extend to any other property of the Issuer or any of its Restricted Subsidiaries;
e.Liens on the property of a Person at the time such Person becomes a Restricted Subsidiary (including Liens created, incurred or assumed in connection with or in contemplation of such acquisition or transaction); provided, however, that any such Lien may not extend to any other property of the Issuer or any other Restricted Subsidiary that is not a Restricted Subsidiary of such Person (other than pursuant to after-acquired property clauses in effect with respect to such Lien at the time of acquisition on property of the type that would have been subject to such Lien notwithstanding the occurrence of such acquisition);
f.pledges or deposits by the Issuer or any of its Restricted Subsidiaries under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Debt) or leases to which the Issuer or any of its Restricted Subsidiaries is party, or deposits to secure public or statutory obligations of the Issuer or any of its Restricted Subsidiaries or deposits for the payment of rent, in each case Incurred in the ordinary course of business;
g.utility easements, building restrictions and such other encumbrances or charges against real property as are of a nature generally existing with respect to properties of a similar character;
h.any provision for the retention of title to any property by the vendor or transferor of such property which property is acquired by the Issuer or a Restricted Subsidiary in a transaction entered into in the ordinary course of business of the Issuer or a Restricted Subsidiary and for which kind of transaction it is customary market practice for such retention of title provision to be included;
i.Liens arising by means of any judgment, decree or order of any court, to the extent not otherwise resulting in a Default hereunder so long as any appropriate legal proceedings which may have been duly initiated for the review of such judgment, decree or order have not been fully terminated or the period within which such proceedings may be initiated has not expired and any Liens that are required to protect or enforce rights in any administrative, arbitration or other court proceeding in the ordinary course of business;
j.Liens securing any Credit Facility or any Permitted Interest Rate, Currency or Commodity Price Agreement;
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k.Liens securing customary indemnification, adjustment of purchase price or similar obligations, in each case, incurred in connection with the disposition of the Issuer or any Restricted Subsidiary, and earn-out provisions or contingent payments in respect of purchase price or adjustment of purchase price or similar obligations in acquisition agreements other than guarantees of Debt incurred by any Person acquiring all or any portion of such assets for the purpose of financing such acquisition;
l.mortgages, liens, security interests, restrictions, encumbrances or any other matters of record that have been placed by any developer, landlord or other third party on property over which the Issuer or any of its Restricted Subsidiaries has easement rights or on any real property leased by the Issuer or any of its Restricted Subsidiaries or similar agreements relating thereto and any condemnation or eminent domain proceedings or compulsory purchase order affecting real property;
m.Liens existing on the Issue Date;
n.Liens in favor of the Issuer or any Restricted Subsidiary;
o.Liens on insurance policies and the proceeds thereof, or other deposits, to secure insurance premium financings in respect of the Issuer or any of its Restricted Subsidiaries;
p.Liens arising from financing statement filings (or other similar filings in any applicable jurisdiction) regarding operating leases entered into by any Restricted Subsidiary of the Issuer in the ordinary course of business;
q.Liens on goods (and the proceeds thereof) and documents of title and the property covered thereby securing Debt in respect of commercial letters of credit issued to facilitate the purchase, shipment or storage of such inventory or other goods;
r.Liens on property of any Restricted Subsidiary of the Issuer to secure Debt Incurred by such Restricted Subsidiary pursuant to Section 4.09(a) hereof or clauses (9), (10), (11), (12) or (13) of Section 4.09(b) hereof; and Liens on property of the Issuer to secure Debt Incurred by the Issuer pursuant to clause (12) of Section 4.09(b) hereof;
s.Liens for the purpose of securing the payment of all or a part of the purchase price of Capital Lease Obligations or payments Incurred by the Issuer or its Restricted Subsidiaries to finance the acquisition, improvement or construction of, assets or property acquired or constructed in the ordinary course of business; provided that such Liens do not encumber any other assets or property of the Issuer or its Restricted Subsidiaries other than such assets or property and assets affixed or appurtenant thereto;
t.Liens on the property of the Issuer or any of its Restricted Subsidiaries to replace in whole or in part, any Lien described in the foregoing clauses (a) through (s); provided that any such Lien is limited to all or part of the same property or assets (plus improvements, accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Debt being refinanced or in respect of property that is the security for a Permitted Lien hereunder;
u.any interest or title of a lessor under any Capital Lease Obligation or operating lease;
v.Liens on any escrow account used in connection with an acquisition of property or Capital Stock of any Person or pre-funding a refinancing of Debt otherwise permissible by this Indenture;
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w.Liens on the Issuer’s and any of its Restricted Subsidiaries’ deposits in favor of financial institutions arising from any netting or set-off arrangement substantially consistent with its current practice for the purpose of netting debt and credit balances substantially consistent with the Issuer’s or the Restricted Subsidiaries’ existing cash pooling arrangements;
x.Liens incurred in the ordinary course of business of the Issuer or any of its Restricted Subsidiaries with respect to obligations that do not exceed the greater of $500 million or 4% of Total Assets at any one time outstanding and that do not in the aggregate materially detract from the value of the property of the Issuer, or materially impair the use thereof in the operation of business by the Issuer and its Restricted Subsidiaries;
y.Liens over cash or other assets that secure collateralized obligations Incurred as Permitted Debt; provided that the amount of cash collateral does not exceed the principal amount of the Permitted Debt;
z.Liens on Restricted MFS Cash in favor of the customers or dealers of, or third parties in relation to, one or more of the Issuer’s Restricted Subsidiaries engaged in the provision of mobile financial services, in each case who provided such Restricted MFS Cash to the relevant Restricted Subsidiary;
aa.Liens on Receivables and related assets of the type described in the definition of “Qualified Receivables Transaction” Incurred in connection with a Qualified Receivables Transaction, and Liens on Investments in Receivables Entities;
ab.Liens consisting of any right of set-off granted to any financial institution acting as a lockbox bank in connection with a Qualified Receivables Transaction;
ac.Liens for the purpose of perfecting the ownership interests of a purchaser of Receivables and related assets pursuant to any Qualified Receivables Transaction;
ad.[Reserved];
ae.Liens arising in connection with other sales of Receivables permitted hereunder without recourse to the Issuer or any of its Restricted Subsidiaries;
af.Liens on Receivables and related assets of the type specified in the definition of “Qualified Receivables Transaction” pursuant to any Qualified Receivables Transaction;
ag.Liens for the purpose of securing the payment of all or a part of the purchase price of, or Capital Lease Obligations, Purchase Money Obligations or other payments Incurred to finance the acquisition, improvement or construction of, assets or property acquired or constructed in the ordinary course of business (including Liens arising out of conditional sale, title retention, hire purchase, consignment or similar arrangements for the sale of goods entered into in the ordinary course of business), provided that such Liens do not encumber any other assets or property of the Issuer or any Restricted Subsidiary other than such assets or property and assets affixed or appurtenant thereto;
ah.Liens securing Debt or other obligations of a Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary;
ai.Liens in respect of the ownership interests in, or assets owned by, any joint ventures or similar arrangements, other than joint ventures and similar arrangements that are Restricted Subsidiaries, securing obligations of such joint ventures or similar agreements;
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aj.any encumbrance or restriction (including, but not limited to, put and call arrangements) with respect to Capital Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement;
ak.Liens over rights under loan agreements relating to, or over notes or similar instruments evidencing, the on-loan of proceeds received by a Restricted Subsidiary from the issuance of Debt, which Liens are created to secure payment of such Debt; 
al.Liens on Capital Stock or other securities or assets of any Unrestricted Subsidiary that secure Debt of such Unrestricted Subsidiary; and
am.Liens securing Acquired Debt described in clause (a) of the definition thereof (provided that any Liens securing Permitted Refinancing Debt with respect thereto shall not be a Permitted Lien pursuant to this clause (mm)).
“Permitted Refinancing Debt” means any renewals, extensions, substitutions, defeasances, discharges, refinancings or replacements (each, for purposes of this definition and clause (8) of Section 4.09(b) hereof, a “refinancing”) of any Debt of the Issuer or a Restricted Subsidiary of the Issuer or pursuant to this definition, including any successive refinancings, as long as:
a.such Permitted Refinancing Debt is in an aggregate principal amount (or if Incurred with original issue discount, an aggregate issue price) not in excess of the sum of: (i) the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value plus all accrued interest) then outstanding of the Debt being refinanced; and (ii) an amount necessary to pay any fees and expenses, including premiums and defeasance costs, related to such refinancing;
b.such Permitted Refinancing Debt has (i) a Stated Maturity that is either (X) no earlier than the Stated Maturity of the Debt being refinanced or (Y) after the Stated Maturity of the Notes and (ii) a Weighted-Average Life to Maturity that is equal to or greater than the Weighted-Average Life to Maturity of the Debt being refinanced; and
c.if the Debt being refinanced is subordinated in right of payment to the Notes, such Permitted Refinancing Debt is subordinated in right of payment to the Notes on terms at least as favorable to the Holders of Notes as those contained in the documentation governing the Debt being refinanced; and
d.if the Issuer was the obligor on the Debt being refinanced, such Permitted Refinancing Debt is Incurred by the Issuer.
Permitted Refinancing Debt in respect of any Credit Facility or any other Debt may be Incurred from time to time after the termination, discharge or repayment of all or any part of such Credit Facility or other Debt. Permitted Refinancing Debt shall not include any Debt of the Issuer or any Restricted Subsidiary that refinances Debt of an Unrestricted Subsidiary.
“Person” means any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization, limited liability company or government or other entity.
“Preferred Stock” of any Person means Capital Stock of such Person of any class or classes (however designated) that ranks prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such Person, to shares of Capital Stock of any other class of such Person.
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“Private Placement Legend” means the legend set forth in Section 2.06(f)(1) hereof to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture.
“Purchase Money Note” means a promissory note of a Receivables Entity evidencing the deferred purchase price of Receivables (and related assets) and/or a line of credit, which may be irrevocable, from the Issuer or any Restricted Subsidiary in connection with a Qualified Receivables Transaction with a Receivables Entity, which note is intended to finance that portion of the purchase price that is not paid in cash or a contribution of equity and which is (a) repayable from cash available to the Receivables Entity, other than (i) amounts required to be established as reserves pursuant to agreements, (ii) amounts paid to investors in respect of interest, (iii) principal and other amounts owing to such investors and (iv) amounts owing to such investors and amounts paid in connection with the purchase of newly generated Receivables and (b) may be subordinated to the payments described in clause (a).
“Purchase Money Obligations” means any Debt Incurred to finance or refinance the acquisition, leasing, construction or improvement of property (real or personal) or assets (including Capital Stock), and whether acquired through the direct acquisition of such property or assets or the acquisition of the Capital Stock of any Person owning such property or assets, or otherwise.
“QIB” means a “qualified institutional buyer” as defined in Rule 144A.
“Qualified Capital Stock” of any Person means any and all Capital Stock of such Person other than Redeemable Stock.
“Qualified Receivables Transaction” means any transaction or series of transactions that may be entered into by the Issuer or any of its Restricted Subsidiaries pursuant to which the Issuer or any of its Restricted Subsidiaries may sell, convey or otherwise transfer to (1) a Receivables Entity (in the case of a transfer by the Issuer or any of the Restricted Subsidiaries) and (2) any other Person (in the case of a transfer by a Receivables Entity), or may grant a Lien in, any Receivables (whether now existing or arising in the future) of the Issuer or any of the Restricted Subsidiaries, and any assets related thereto including, without limitation, all collateral securing such Receivables, all contracts and all guarantees or other obligations in respect of such accounts receivable, the proceeds of such Receivables and other assets which are customarily transferred, or in respect of which Liens are customarily granted, in connection with asset securitization involving Receivables and any Interest Rate, Currency or Commodity Price Agreement entered into by the Issuer or any such Restricted Subsidiary in connection with such Receivables.
“Rating Agency” means each of (i) Fitch, Moody’s and S&P or (ii) if any of Fitch, Moody’s or S&P are not making ratings of the Notes publicly available, an internationally recognized rating agency or agencies, as the case may be, selected by the Issuer, which will be substituted for any of Fitch, Moody’s, S&P, as the case may be.
“Rating Category” means (i) with respect to Fitch, any of the following categories (any of which may include a “+” or “-”): AAA, AA, A, BBB, BB, B, CCC, CC, C, R, SD and D (or equivalent successor categories); (ii) with respect to Moody’s, any of the following categories (any of which may include a “1,” “2” or “3”): Aaa, Aa, A, Baa, Ba, B, Caa, Ca, and C (or equivalent successor categories), and (iii) the equivalent of any such categories of Fitch or Moody’s used by another Rating Agency, if applicable.
“Rating Date” means the date which is the earlier of (i) 120 days prior to the occurrence of an event specified in clauses (a), (b) or (c) of the definition of Change of Control and (ii) the date of the first public announcement of the possibility of such event.
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“Rating Decline” means the occurrence of, at any time within the earlier of (i) 90 days after the date of public notice of a Change of Control, or of the Issuer’s intention or the intention of any Person to effect a Change of Control and (ii) the occurrence of the Change in Control (which period shall in either event be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by a Rating Agency), a Rating Agency withdrawal of its rating of the Notes or a decrease in the rating of the Notes by a Rating Agency as follows:
a.if the Notes are not rated Investment Grade by at least two of the three Rating Agencies on the Rating Date, by one or more Gradations; or
b.if the Notes are rated Investment Grade by at least two of the three Rating Agencies on the Rating Date, either (i) by two or more Gradations or (ii) such that the Notes are no longer rated Investment Grade, provided that, when announcing the relevant decision(s) to withdraw or decrease the rating, each such Rating Agency announces publicly or confirms in writing that such decision(s) resulted, in whole or in part, from the occurrence (or expected occurrence) of the Change of Control or the Issuer’s announcement of the intention to effect a Change of Control.
“Receivable” means a right to receive payment arising from a sale or lease of goods or the performance of services by a Person pursuant to an arrangement with another Person pursuant to which such other Person is obligated to pay for goods or services under terms that permit the purchase of such goods and services on credit and shall include, in any event, any items of property that would be classified as an “account,” “chattel paper,” “payment intangible” or “instrument” under the Uniform Commercial Code as in effect in the State of New York and any “supporting obligations” as so defined.
“Receivables Entity” means a Wholly-Owned Subsidiary of the Issuer (or another Person in which the Issuer or any Restricted Subsidiary makes an Investment or to which the Issuer or any Restricted Subsidiary transfers Receivables and related assets) which engages in no activities other than in connection with the financing of Receivables and which is designated by the Board of Directors or senior management of the Issuer (as provided below) as a Receivables Entity:
a.no portion of the Debt or any other obligations (contingent or otherwise) of which:
(i) is Guaranteed by the Issuer or any Restricted Subsidiary (excluding guarantees of obligations (other than the principal of, and interest on, Debt) pursuant to Standard Securitization Undertakings);
(ii) is recourse to or obligates the Issuer or any Restricted Subsidiary in any way other than pursuant to Standard Securitization Undertakings; or
(iii) subjects any property or asset of the Issuer or any Restricted Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, except, in each such case, Permitted Liens as defined in clauses (aa) through (ff) of the definition thereof;
b.with which neither the Issuer nor any Restricted Subsidiary has any material contract, agreement, arrangement or understanding (except in connection with a Purchase Money Note or Qualified Receivables Transaction) other than on terms not materially less favorable to the Issuer or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuer, other than fees payable in the ordinary course of business in connection with servicing Receivables; and
c.to which neither the Issuer nor any Restricted Subsidiary has any obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of 
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operating results (other than those related to or incidental to the relevant Qualified Receivables Transaction).
Any such designation by the Board of Directors or senior management of Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a certified copy of the resolution of the Board of Directors of Issuer giving effect to such designation or an Officer’s Certificate certifying that such designation complied with the foregoing conditions.
•“Receivables Fees” means reasonable distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Receivables Entity in connection with, any Qualified Receivables Transaction.
“Receivables Repurchase Obligation” means any obligation of a seller of Receivables in a Qualified Receivables Transaction to repurchase Receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.
“Redeemable Stock” of any Person means any Capital Stock of such Person that by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or otherwise (including upon the occurrence of an event) matures or is required to be redeemed (pursuant to any sinking fund obligation or otherwise) or is convertible into or exchangeable for Debt or is redeemable at the option of the holder thereof, in whole or in part, at any time prior to the final Stated Maturity of the Notes.
“Regulation S” means Regulation S promulgated under the U.S. Securities Act.
“Regulation S Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with the Custodian and registered in the name of Cede & Co., as nominee for DTC, that will be issued in an initial amount equal to the principal amount of the Notes initially resold in reliance on Regulation S.
“Related Business” means (i) any business, services or activities engaged in by the Issuer or any of its Subsidiaries on the Issue Date and (ii) any business, services and activities that are related, complementary, incidental, ancillary or similar to any of the foregoing, or are extensions or developments thereof, including, without limitation, broadband internet, network-related services, cable television, broadcast content, network neutral services, electronic transactional, financial and commercial services related to provision of telephony or internet services.
 “Responsible Officer,” when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee (or any successor of the Trustee) including any managing director, director, vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer or assistant officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and, in each case, who shall have direct responsibility for the administration of this Indenture.
 “Restricted Cash” means the sum of (i) Restricted MFS Cash and (ii) without duplication, the amount of cash that would be stated as “restricted cash” on the consolidated statement of financial position of the Issuer as of such date in accordance with IFRS.
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“Restricted MFS Cash” means, as of any date of determination, an amount equal to any cash paid in or deposited by or held on behalf of any customer or dealer of, or any other third party in relation to, one or more of the Issuer’s Restricted Subsidiaries engaged in the provision of mobile financial services and designated as “restricted cash” on the consolidated statement of financial position of the Issuer, together with any interest thereon.
“Restricted Period” means the 40-day distribution compliance period as defined in Regulation S.
“Restricted Subsidiary” means any Subsidiary of the Issuer other than an Unrestricted Subsidiary.
“Revolving Credit Facility” means the $600 million revolving credit facility agreement dated October 15, 2020 entered into by the Issuer and a consortium of banks, including each Initial Purchaser, which may be increased in an additional $300 million, as the same may be amended, supplemented, waived or otherwise modified from time to time, or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time (whether in whole or in part).
“Rule 144” means Rule 144 promulgated under the U.S. Securities Act.
“Rule 144A” means Rule 144A promulgated under the U.S. Securities Act.
“Rule 144A Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with the Custodian and registered in the name of Cede & Co., as nominee for DTC, that will be issued in an initial amount equal to the principal amount of the Notes initially resold in reliance on Rule 144A.
“Rule 903” means Rule 903 promulgated under the U.S. Securities Act.
“Rule 904” means Rule 904 promulgated under the U.S. Securities Act.
“S&P” means Standard & Poor’s Ratings Services.
“Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter acquired whereby the Issuer or its Restricted Subsidiary transfers such property to a Person and the Issuer or any of its Restricted Subsidiaries leases it from such Person.
“SEC” means the U.S. Securities and Exchange Commission.
“Senior Secured Debt” means, as of any date of determination, any Debt of (a) the Issuer that is secured by a security interest in any assets of the Issuer or any of its Restricted Subsidiaries and/or (b) any Restricted Subsidiary of the Issuer, other than Debt Incurred pursuant to clauses (5) (to the extent such Guarantee is in respect of Debt otherwise permitted to be secured by a security interest in any assets of the Issuer or any of its Restricted Subsidiaries and/or Incurred by a Restricted Subsidiary of the Issuer, as applicable), (9), (10), (11), (12) and (13) of Section 4.09(b) hereof.
“Significant Subsidiary” means, at the date of determination, any Restricted Subsidiary of the Issuer that (1) for the most recent fiscal year, accounted for more than 10% of Consolidated EBITDA of the Issuer and its Restricted Subsidiaries or (2) as of the end of the most recent fiscal year, was the owner of more than 10% of the consolidated assets of the Issuer and its Restricted Subsidiaries.
“Specified Legal Expenses” means, to the extent not constituting an extraordinary, non-recurring or unusual loss, charge or expense, all attorneys’ and experts’ fees and expenses and all 
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other costs, liabilities (including all damages, penalties, fines and indemnification and settlement payments) and expenses paid or payable in connection with any threatened, pending, completed or future claim, demand, action, suit, proceeding, inquiry or investigation (whether civil, criminal, administrative, governmental or investigative). 
“Specified Subsidiary Sale” means the sale, transfer or other disposition of all of the Capital Stock, or all of the assets or properties of, (a) any Person, the primary purpose of which is to own Tower Equipment located in any market in which the Issuer or its Restricted Subsidiaries operate; (b) any Person which operates the Issuer’s or any Restricted Subsidiary of the Issuer’s mobile financial services business; (c) Latin America Internet Holding GmbH (or any successor in interest thereto); or (d) Africa Internet Holding GmbH (or any successor in interest thereto).
“Standard Securitization Undertakings” means representations, warranties, covenants and indemnities entered into by the Issuer or any Restricted Subsidiary which are reasonably customary in a securitization of Receivables transactions, including, without limitation, those relating to the servicing of the assets of a Receivables Entity, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking.
“Stated Maturity” when used with respect to any security or any installment of interest thereon, means the date specified in such security as the fixed date on which the principal of such security or such installment of interest is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred).
 “Subsidiary” of any Person means (i) a corporation more than 50% of the combined voting power of the outstanding Voting Stock of which is owned, directly or indirectly, by such Person or by one or more other Subsidiaries of such Person or by such Person and one or more Subsidiaries thereof or (ii) any other Person (other than a corporation) in which such Person, or one or more other Subsidiaries of such Person or such Person and one or more other Subsidiaries thereof, directly or indirectly, has at least a majority ownership and power to direct the policies, management and affairs thereof.
 “Total Assets” means the consolidated total assets of the Issuer and its Restricted Subsidiaries as shown on the Issuer’s most recent consolidated statement of financial position prepared on the basis of IFRS prior to the relevant date of determination calculated to give pro forma effect to any acquisitions (including through mergers or consolidations) and dispositions that have occurred subsequent to such period, including any such acquisitions to be made with the proceeds of Debt giving rise to the need to calculate Total Assets.
“Tower Equipment” means passive infrastructure related to telecommunications services, excluding telecommunications equipment, but including, without limitation, towers (including tower lights and lightning rods), power breakers, deep cycle batteries, generators, voltage regulators, main AC power, rooftop masts, cable ladders, grounding, walls and fences, access roads, shelters, air conditioners and BTS batteries owned by the Issuer or any of its Subsidiaries.
“Treasury Rate” means, as at any redemption date, the yield to maturity as at such redemption date of United States Treasury securities with a constant maturity (as complied and published in the most recent Federal Reserve Statistical Release H. 15 (519) that has become publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to April 27, 2026; provided, however, that if the period from the 
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redemption date to April 27, 2026 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.
“Trustee” means Citibank, N.A., London Branch, until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder.
“Unrestricted Subsidiary” means any Subsidiary of the Issuer Designated as such pursuant to Section 4.24.
“U.S. Dollar Equivalent” means with respect to any monetary amount in a currency other than U.S. Dollars, at any time of determination thereof, the amount of U.S. Dollars obtained by translating such other currency involved in such computation into U.S. Dollars at the spot rate for the purchase of U.S. Dollars with the applicable other currency as published in the Financial Times on the date that is two Business Days prior to such determination.
“U.S. Dollars” or “$” means and/or refers to the lawful currency of the United States.
“U.S. Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended and the rules and regulations promulgated pursuant thereto.
“U.S. Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for which the United States pledges its full faith and credit.
“U.S. Securities Act” means the U.S. Securities Act of 1933, as amended and the rules and regulations promulgated pursuant thereto.
“U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the U.S. Securities Act.
“Voting Stock” of any person means Capital Stock of such Person which ordinarily has voting power for the election of directors (or persons performing similar functions) of such Person, whether at all times or only so long as no senior class of securities has such voting power by reason of any contingency.
“Weighted-Average Life to Maturity” means, when applied to any Debt or Preferred Stock at any date, the number of years obtained by dividing (a) the then outstanding principal amount of such Debt or liquidation preference of such Preferred Stock, as the case may be, into (b) the total of the product obtained by multiplying (x) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal or upon mandatory redemption, including payment at final maturity, in respect thereof, by (y) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment.
“Wholly-Owned Subsidiary” means (1) in respect of any Person, a Person, all of the Capital Stock of which (other than (a) directors’ qualifying shares or an immaterial amount of shares required to be owned by other Persons pursuant to applicable law, regulation or to ensure limited liability and (b) in the case of a Receivables Entity, shares held by a Person that is not an Affiliate of the Issuer solely for the purpose of permitting such Person (or such Person’s designee) to vote with respect to customary major events with respect to such Receivables Entity, including without limitation the institution of bankruptcy, insolvency or other similar proceedings, any merger or dissolution, and any change in charter documents or other customary events) is owned by that Person directly or (2) indirectly by a Person that satisfies the requirements of clause (1).
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Section 1.02    Other Definitions
.
Additional Amounts    Section 4.22(a)
Authenticating Agent    Section 2.02
Authentication Order    Section 2.02
Authorized Agent    Section 14.06
Change in Tax Law    Section 3.08(a)
Change of Control Offer    Section 4.15(a)
Covenant Defeasance    Section 8.03
Designation    Section 4.24(a)
Excess Proceeds    Section 4.10(d)
Excess Proceeds Offer    Section 4.10(e)
Indenture    Preamble
Initial Notes    Preamble
Issuer    Preamble
Judgment Currency    Section 14.14
LCT Election    Section 4.21(b)(2)
LCT Test Date    Section 4.21(b)(2)
Legal Defeasance    Section 8.02
Liability    Section 14.16(b)(1)
Notes    Preamble
Offer Amount    Section 3.12(b)
Offer Period    Section 3.12(b)
Paying Agent    Section 2.03
Permitted Debt    Section 4.09(b)
Purchase Date    Section 3.12(b)
Redesignation    Section 4.24(c)
Register    Section 2.03
Registrar    Section 2.03
Relevant Taxing Jurisdiction    Section 4.22(a)
Required Currency    Section 14.14
Resolution Authority    Section 14.16(b)(1)
Suspension Period    Section 4.23(a)(2)
Taxes    Section 4.22(a)
Transfer Agent    Section 2.03
Trustee    Section 8.05
Write-down and Conversion Powers    Section 14.16(b)(1)

Section 1.03    [Reserved]
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Section 1.04    Rules of Construction
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Unless the context otherwise requires:
1.a term has the meaning assigned to it;
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2.an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS;
3.“or” is not exclusive;
4.words in the singular include the plural, and in the plural include the singular;
5.“will” shall be interpreted to express a command;
6.provisions apply to successive events and transactions;
7.references to sections of or rules under the U.S. Securities Act will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from time to time;
8.all references to the principal, premium, interest or any other amount payable pursuant to this Indenture shall be deemed also to refer to any Additional Amounts which may be payable hereunder in respect of payments of principal, premium, interest and any other amounts payable pursuant to this Indenture or any undertakings given in addition thereto or in substitution therefor pursuant to this Indenture and express reference to the payment of Additional Amounts in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express reference is not made;
9.except as otherwise provided, whenever an amount is denominated in euro, it shall be deemed to include the Euro Equivalent amounts denominated in other currencies, and, whenever an amount is denominated in dollars, it shall be deemed to include the Dollar Equivalent amounts denominated in other currencies; 
10.any reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, limited partnership or trust, or an allocation of assets to a series of a limited liability company, limited partnership or trust (or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale or transfer, or similar term, as applicable, to, of or with a separate Person; any division of a limited liability company, limited partnership or trust shall constitute a separate Person hereunder (and each division of any limited liability company, limited partnership or trust that is a Subsidiary, Restricted Subsidiary, Unrestricted Subsidiary, joint venture or any other like term shall also constitute such a Person or entity); and 
11.unsecured or unguaranteed Debt shall not be deemed to be subordinate or junior to secured Debt or guaranteed Debt merely by virtue of its nature as unsecured or unguaranteed Debt.
Article 2.The Notes
Section 2.01     Form and Dating
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a.General. The Notes and the Trustee’s or Authenticating Agent’s certificate of authentication will be substantially in the form of Exhibit A hereto with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage and as provided herein. The Issuer shall approve the form of the Notes and any notation, legend or endorsement thereon. Each Note will be dated the date of its authentication. The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the 
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Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling.
b.Global Notes. Notes issued in global form will be substantially in the form of Exhibit A hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such of the Outstanding Notes as will be specified therein and each shall provide that it represents the aggregate principal amount of Outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of Outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions and purchases and cancellations. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of Outstanding Notes represented thereby will be made by the Trustee or the Custodian or the Paying Agent at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06 hereof.
c.144A Global Notes and Regulation S Global Notes. Notes sold within the United States to QIBs pursuant to Rule 144A under the U.S. Securities Act shall be issued initially in the form of a Rule 144A Global Note. Notes offered and sold in reliance on Regulation S shall be issued initially in the form of a Regulation S Global Note. The Global Notes shall be deposited with the Custodian for DTC and registered in the name of Cede & Co., the nominee of DTC, duly executed by the Issuer and authenticated by the Trustee or the Authenticating Agent as hereinafter provided. The aggregate principal amount of each Global Note may from time to time be increased or decreased by adjustments made on the “Schedule of Exchanges of Interests in the Global Note” to each such Global Note, as hereinafter provided.
d.Definitive Registered Notes. Definitive Registered Notes issued upon transfer of a Book-Entry Interest or a Definitive Registered Note, or in exchange for a Book-Entry Interest or a Definitive Registered Note, shall be issued in accordance with this Indenture. Notes issued in definitive registered form will be substantially in the form of Exhibit A hereto (excluding the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto).
e.Book-Entry Provisions. The Applicable Procedures shall be applicable to Book-Entry Interests in the Global Notes that are held by Participants through the Depositary.
f.Denomination. The Notes shall be in denominations of $200,000 and integral multiples of $1,000 above $200,000.
Section 2.02     Execution and Authentication
At least one Officer must sign the Notes for the Issuer by manual, electronic, digital or facsimile signature. If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless be valid.
A Note will not be valid until authenticated by the manual, electronic or digital signature of the authorized signatory of the Trustee or the Authenticating Agent. The signature will be conclusive evidence that the Note has been authenticated under this Indenture. Notwithstanding the foregoing, if any Note shall have been authenticated and delivered hereunder but never issued and sold by the Issuer, the Issuer shall deliver such Note to the Trustee for cancellation pursuant to Section 2.11 hereof.
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The Trustee will, upon receipt of a written order of the Issuer signed by an authorized representative (an “Authentication Order”), authenticate or cause the Authenticating Agent to authenticate the Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate principal amount of Notes authorized for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided in Section 2.07 hereof.
The Trustee may appoint one or more authentication agents (each, an “Authenticating Agent”) acceptable to the Issuer to authenticate Notes. Such an agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An Authenticating Agent has the same rights as an Agent to deal with Holders or an Affiliate of the Issuer. 
Section 2.03    Paying Agent, Registrars and Transfer Agents
The Issuer will maintain one or more paying agents (each, a “Paying Agent”) for the Notes. The Issuer will also maintain one or more transfer agents (each, a “Transfer Agent”). The initial Paying Agent and initial Transfer Agent will be Citibank, N.A., London Branch, who hereby accepts such appointment. 
The Issuer will also maintain one or more registrars (each, a “Registrar”) for so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market. The Issuer hereby appoints Citigroup Global Markets Europe AG as initial Registrar, who hereby accepts such appointment. The Registrar will maintain a register (the “Register”) reflecting ownership of Definitive Registered Notes Outstanding from time to time and facilitate transfers of Definitive Registered Notes on behalf of the Issuer and will send a copy of the Register to the Issuer on the Issue Date and after any change to the Register made by the Registrar. 
Upon written notice to the Trustee, the Issuer may change the Paying Agents, the Registrars or the Transfer Agents without prior notice to the Holders. For so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market and the rules of the Luxembourg Stock Exchange so require, the Issuer will, to the extent and in the manner permitted by such rules, post a notice of any change of Paying Agent, Registrar or Transfer Agent on the official website of the Luxembourg Stock Exchange (www.bourse.lu) in accordance with Section 14.01 hereof.
Section 2.04    Paying Agent to Hold Money
The Issuer will require each Paying Agent other than the Trustee and the initial Paying Agent to agree in writing that each Paying Agent will hold for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal of (and premium or Additional Amounts, if any) or interest on the Notes, and will notify the Trustee in writing of any Default by the Issuer in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer or a Subsidiary of the Issuer) will have no further liability for the money. If the Issuer or a Subsidiary of the Issuer acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any insolvency, bankruptcy or reorganization proceedings relating to the Issuer (including, without limitation, its bankruptcy, voluntary or judicial liquidation, composition with creditors, reprieve from payment, controlled management, fraudulent conveyance, general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally), the Trustee will serve as Paying Agent for the Notes. The Issuer shall provide funds to the Paying Agent no later than 10:00 a.m. (New York time) 
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on the Business Day prior to the day on which the Paying Agent is to make payment. A Paying Agent shall not be obliged to pay the Holders of the Notes (or make any other payment) unless and until such time as it has confirmed receipt of cleared funds sufficient to make the relevant payment.
Section 2.05    Holder Lists
The Registrar will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders. If the Trustee or the Paying Agent is not the Registrar, the Issuer will furnish or cause the Registrar to furnish, to the Trustee and the Paying Agent at least seven Business Days before each interest payment date and at such other times as the Trustee or the Paying Agent may request in writing, a list of the names and addresses of the Holders of Notes in such form and as of such date as the Trustee or the Paying Agent may reasonably require.
Section 2.06    Transfer and Exchange
a.Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the Depositary to the Custodian or a nominee of such Custodian, by the Custodian or a nominee of such Custodian to the Depositary or to another nominee or Custodian of the Depositary, or by such Custodian or Depositary or any such nominee to a successor Depositary or Custodian or a nominee thereof.
All Global Notes will be exchanged by the Issuer for Definitive Registered Notes:
(1)If the Depositary notifies the Issuer that it is unwilling or unable to continue to act as Depositary and a successor Depositary is not appointed by the Issuer within 120 days;
(2)in whole, but not in part, if the Issuer so requests; or
(3)if the owner of a Book-Entry Interest requests such exchange in writing delivered through the Depositary following a Default by the Issuer under this Indenture.
Upon the occurrence of any of the preceding events in clauses (1) through (3) above, the Issuer shall issue or cause to be issued Definitive Registered Notes in such names as the Depositary shall instruct the Trustee.
Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a). Book-Entry Interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b) or (c) hereof.
b.General Provisions Applicable to Transfer and Exchange of Book-Entry Interests in the Global Notes.
The transfer and exchange of Book-Entry Interests shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. In connection with all transfers and exchanges of Book-Entry Interests (other than transfers of Book-Entry Interests in connection with which the transferor takes delivery thereof in the form of a Book-Entry Interest in the same Global Note), the Transfer Agent (copied to the Trustee) must receive: (i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to debit from the transferor a Book-Entry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a Book-Entry Interest in another Global Note 
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in an amount equal to the Book-Entry Interest to be transferred or exchanged; and (iii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited or debited with such increase or decrease, if applicable.
In connection with a transfer or exchange of a Book-Entry Interest for a Definitive Registered Note, the Transfer Agent (copied to the Trustee and the Registrar) must receive: (i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to debit from the transferor a BookEntry Interest in an amount equal to the Book-Entry Interest to be transferred or exchanged; (ii) a written order from a Participant directing the Registrar to cause to be issued a Definitive Registered Note in an amount equal to the Book Entry Interest to be transferred or exchanged; and (iii) instructions containing information regarding the Person in whose name such Definitive Registered Note shall be registered to effect the transfer or exchange referred to above.
In connection with any transfer or exchange of Definitive Registered Notes, the Holder of such Notes shall present or surrender to the Registrar the Definitive Registered Notes duly endorsed or accompanied by a written instruction of transfer in a form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, in connection with a transfer or exchange of a Definitive Registered Note for a Book-Entry Interest, the Transfer Agent (copied to the Trustee) must receive a written order directing the Depositary to credit the account of the transferee in an amount equal to the Book-Entry Interest to be transferred or exchanged.
Upon satisfaction of all of the requirements for transfer or exchange of Book-Entry Interests in Global Notes contained in this Indenture, the Transfer Agent (copied to the Trustee or the Registrar), as specified in this Section 2.06, shall endorse the relevant Global Note(s) with any increase or decrease and instruct the Depositary to reflect such increase or decrease in its systems.
Transfers of Book-Entry Interests shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the U.S. Securities Act. Transfers and exchanges of BookEntry Interests for Book-Entry Interests also shall require compliance with either subparagraph (b)(1) or (b)(2) below, as applicable, as well as subparagraph (b)(3) below, if applicable:
(1)Transfer of Book-Entry Interests in the Same Global Note. Book-Entry Interests in a Global Note may be transferred to Persons who take delivery thereof in the form of a Book-Entry Interest in a Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, Book-Entry Interests in the Regulation S Global Notes will be limited to persons that have accounts with DTC, or its Participants including, Euroclear or Clearstream, and any sale or transfer of such interest to U.S. persons shall not be permitted during the Restricted Period unless such resale or transfer is made pursuant to Rule 144A. No written orders or instructions shall be required to be delivered to the Trustee to effect the transfers described in this Section 2.06(b)(1).
(2)All Other Transfers and Exchanges of Book-Entry Interests in Global Notes. A holder may transfer or exchange a Book-Entry Interest in Global Notes in a transaction not subject to Section 2.06(b)(1) above only if the Trustee and the Registrar or the Transfer Agent (copied to the Trustee) receives either:
A.both:
i.a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures 
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directing the Depositary to credit or cause to be credited a Book-Entry Interest in another Global Note in an amount equal to the Book-Entry Interest to be transferred or exchanged; and (ii) instructions given by the Depositary in accordance with the Applicable Procedures containing information regarding the Participant’s account to be credited with such increase; or
A.both:
(a)a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Registered Note in an amount equal to the Book-Entry Interest to be transferred or exchanged; and
(b)instructions given by the Depositary to the Registrar containing information specifying the identity of the Person in whose name such Definitive Registered Note shall be registered to effect the transfer or exchange referred to in (1) above, the principal amount of such securities and the CUSIP, ISIN, Common Code or other similar number identifying the Notes,
provided that any such transfer or exchange is made in accordance with the transfer restrictions set forth in the Private Placement Legend.
3.    Transfer of Book-Entry Interests to Another Global Note. A BookEntry Interest in any Global Note may be transferred to a Person who takes delivery thereof in the form of a Book-Entry Interest in another Global Note if the transfer complies with the requirements of Section 2.06(b)(2) above and the Transfer Agent and the Registrar receives the following:
a.if the transferee will take delivery in the form of a Book-Entry Interest in a Rule 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and
b.if the transferee will take delivery in the form of a Book-Entry Interest in a Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof.
c.Transfer or Exchange of Book-Entry Interests in Global Notes for Definitive Registered Notes. If any holder of a Book-Entry Interest in a Global Note proposes to exchange such Book-Entry Interest for a Definitive Registered Note or to transfer such Book-Entry Interest to a Person who takes delivery thereof in the form of a Definitive Registered Note, then, upon receipt by the Trustee, the Transfer Agent and the Registrar of the following documentation:
1.in the case of a transfer on or before the expiration of the Restricted Period by a holder of a Book-Entry Interest in a Regulation S Global Note, the Trustee and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications in either item (1) or item (2) thereof;
2.in the case of an exchange by a holder of a Book-Entry Interest in a Global Note of such Book-Entry Interest for a Definitive Registered Note, the Trustee and the Transfer Agent shall have received a certificate from such holder in the form of Exhibit C hereto, including the certifications in items (1) thereof;
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3.in the case of a transfer after the expiration of the Restricted Period by a holder of a Book-Entry Interest in a Regulation S Global Note, the transfer complies with Section 2.06(b);
4.in the case of a transfer by a holder of a Book-Entry Interest in a Rule 144A Global Note to a QIB in reliance on Rule 144A, the Trustee and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;
5.in the case of a transfer by a holder of a Book-Entry Interest in a Rule 144A Global Note in reliance on Regulation S, the Trustee and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; or
6.in the case of a transfer by a holder of a Book-Entry Interest in a Rule 144A Global Note in reliance on Rule 144, the Trustee and the Transfer Agent shall have received a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3) thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Issuer shall execute and the Trustee or the Authenticating Agent shall authenticate and deliver to the Person designated in the instructions a Definitive Registered Note in the appropriate principal amount. Any Definitive Registered Note issued in exchange for a Book-Entry Interest in a Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such Book-Entry Interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Registrar shall deliver such Definitive Registered Notes to the Persons in whose names such Notes are so registered. Any Definitive Registered Note issued in exchange for a Book-Entry Interest in a Global Note pursuant to this Section 2.06(c)) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.
d.Transfer and Exchange of Definitive Registered Notes for Book-Entry Interests in the Global Notes. If any Holder of a Definitive Registered Note proposes to exchange such Note for a Book-Entry Interest in a Global Note or to transfer such Definitive Registered Notes to a Person who takes delivery thereof in the form of a Book-Entry Interest in a Global Note, then, upon receipt by the Trustee, the Transfer Agent and the Registrar of the following documentation:
1.if the Holder of such Definitive Registered Note proposes to exchange such Note for a Book-Entry Interest in a Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2) thereof;
2.if such Definitive Registered Note is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;
3.if such Definitive Registered Note is being transferred in reliance on Regulation S or Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) or (3) thereof, as applicable;
4.if such Definitive Registered Note is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3) thereof;
and the Trustee will cancel the Definitive Registered Note, and the Trustee will increase or cause to be increased the aggregate principal amount of, in the case of clause (1) above, the appropriate Global Note, in the case of clause (2) above, the appropriate Rule 144A Global Note, in the case of clause (3) above, the appropriate Global Note, and in the case of clause (4) above, the appropriate Global Note.
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e.Transfer and Exchange of Definitive Registered Notes for Definitive Registered Notes.
Definitive Registered Notes may be transferred or exchanged in whole or in part, in minimum denominations of $200,000 in principal amount and integral multiples of $1,000 in excess thereof, to persons who take delivery thereof in the form of Definitive Registered Notes in accordance with this Section 2.06(e). Upon request by a Holder of Definitive Registered Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Transfer Agent or the Registrar will register the transfer or exchange of Definitive Registered Notes of which registration the Issuer will be informed by the Transfer Agent or the Registrar (as the case may be) upon request. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Transfer Agent or the Registrar the Definitive Registered Notes duly endorsed and accompanied by a written instruction of transfer in a form satisfactory to the Transfer Agent or the Registrar duly executed by such Holder or its attorney, duly authorized to execute the same in writing. In the event that the Holder of such Definitive Registered Notes does not transfer the entire principal amount of Notes represented by any such Definitive Registered Note, the Transfer Agent or the Registrar will cancel or cause to be cancelled such Definitive Registered Note and the Issuer (who has been informed of such cancellation) shall execute and the Trustee or the Authenticating Agent shall authenticate and deliver to the requesting Holder and any transferee Definitive Registered Notes in the appropriate principal amounts. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e).
Any Definitive Registered Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Definitive Registered Note if the Registrar receives the following:
1.if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and
2.if the transfer will be made in reliance on Regulation S, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof.
f.Legends. The following legends will appear on the face of all Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture.
1.Private Placement Legend. Each Global Note and each Definitive Registered Note (and all Notes issued in exchange therefor or in substitution thereof) shall bear the legend in substantially the following form:
“THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT. 
THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL 
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BUYER” (AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH NOTE, [IN THE CASE OF RULE 144A NOTES: AT ANY TIME] [IN THE CASE OF REGULATION S NOTES: PRIOR TO THE DATE WHICH IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S] ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE U.S. SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE U.S. SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES IN COMPLIANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT OR (E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO ANY REQUIREMENT OF LAW THAT THE DISPOSITION OF ITS PROPERTY OR THE PROPERTY OF SUCH INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITHIN ITS OR THEIR CONTROL AND TO COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS, AND ANY APPLICABLE LOCAL LAWS AND REGULATIONS AND FURTHER SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHTS PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, (II) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE AND (III) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.  [IN THE CASE OF RULE 144A NOTES: THIS LEGEND MAY ONLY BE REMOVED AT THE OPTION OF THE ISSUER.]
BY ACCEPTING THIS NOTE (OR AN INTEREST IN THE NOTES REPRESENTED HEREBY) EACH ACQUIROR AND EACH TRANSFEREE IS DEEMED TO REPRESENT, WARRANT AND AGREE THAT AT THE TIME OF ITS ACQUISITION AND THROUGHOUT THE PERIOD THAT IT HOLDS THIS NOTE OR ANY INTEREST HEREIN (1) EITHER (A) IT IS NOT, AND IT IS NOT ACTING ON BEHALF OF (AND FOR SO LONG AS IT HOLDS SUCH NOTES OR ANY INTEREST THEREIN IT WILL NOT BE, AND WILL NOT BE ACTING ON BEHALF OF), AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE UNITED STATES 
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EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)), SUBJECT TO THE PROVISIONS OF PART 4 OF SUBTITLE B OF TITLE I OF ERISA, A PLAN TO WHICH SECTION 4975 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED, (“CODE”), APPLIES, OR ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” (WITHIN THE MEANING OF 29 C.F.R. SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) BY REASON OF SUCH AN EMPLOYEE BENEFIT PLAN’S AND/OR PLAN’S INVESTMENT IN SUCH ENTITY (EACH, A “BENEFIT PLAN INVESTOR”), OR A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN WHICH IS SUBJECT TO ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY OR THE PROHIBITED TRANSACTION PROVISIONS OF ERISA AND/OR SECTION 4975 OF THE CODE (“SIMILAR LAWS”), AND NO PART OF THE ASSETS USED BY IT TO ACQUIRE OR HOLD THIS NOTE OR ANY INTEREST HEREIN CONSTITUTES THE ASSETS OF ANY BENEFIT PLAN INVESTOR OR SUCH A GOVERNMENTAL, CHURCH OR NON-U.S. PLAN, OR (I) ITS ACQUISITION AND HOLDING OF THE NOTES OR ANY INTEREST THEREIN WILL NOT CONSTITUTE OR RESULT IN A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION UNDER SIMILAR LAWS, AND (II) NEITHER ISSUER NOR ANY OF ITS AFFILIATES IS A “FIDUCIARY” (WITHIN THE MEANING OF ANY DEFINITION OF “FIDUCIARY” UNDER SIMILAR LAWS) WITH RESPECT TO THE PURCHASER OR HOLDER IN CONNECTION WITH ANY PURCHASE OR HOLDING OF THE NOTES, OR AS A RESULT OF ANY EXERCISE BY THE ISSUER OR ANY OF ITS AFFILIATES OF ANY RIGHTS IN CONNECTION WITH THE NOTES, AND NO ADVICE PROVIDED BY THE ISSUER OR ANY OF ITS AFFILIATES HAS FORMED A PRIMARY BASIS FOR ANY INVESTMENT DECISION BY OR ON BEHALF OF THE PURCHASER OR HOLDER IN CONNECTION WITH THE NOTES AND THE TRANSACTIONS CONTEMPLATED WITH RESPECT TO THE NOTES; AND (2) IT WILL NOT SELL OR OTHERWISE TRANSFER THIS NOTE OR ANY INTEREST HEREIN OTHERWISE THAN TO A PURCHASER OR TRANSFEREE THAT IS DEEMED TO MAKE THESE SAME REPRESENTATIONS, WARRANTIES AND AGREEMENTS WITH RESPECT TO ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS NOTE.”
2.Global Note Legend. Each Global Note will bear a legend in substantially the following form:
“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE TRANSFERRED OR EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, AND (3) THIS 
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GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE.”
g.Cancellation and/or Adjustment of Global Notes. At such time as all Book-Entry Interests in a particular Global Note have been exchanged for Definitive Registered Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note will be returned to or retained and cancelled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any Book-Entry Interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a Book-Entry Interest in another Global Note or for Definitive Registered Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction; and if the Book-Entry Interests is being exchanged for or transferred to a Person who will take delivery thereof in the form of a Book-Entry Interests in another Global Note, such other Global Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or the Custodian at the direction of the Trustee to reflect such increase.
h.General Provisions Relating to Transfers and Exchanges.
1.To permit registrations of transfers and exchanges, the Issuer will execute and the Trustee or the Authenticating Agent will authenticate Global Notes and Definitive Registered Notes upon receipt of an Authentication Order in accordance with Section 2.02 hereof or at the Registrar’s request.
2.No service charge will be made by the Issuer or the Registrar to a Holder of a Book-Entry Interest in a Global Note, a Holder of a Global Note or a Holder of a Definitive Registered Note for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any stamp duty, stamp duty reserve, documentary or other similar tax or governmental charge that may be imposed in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.10 and 4.15 hereof).
3.No Transfer Agent or Registrar will be required to register the transfer of or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part.
4.All Global Notes and Definitive Registered Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Registered Notes will be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Registered Notes surrendered upon such registration of transfer or exchange.
5.[Reserved].
6.The Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of (and premium or Additional Amounts, if any) or interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary.
7.All certifications, certificates and Opinions of Counsel required to be submitted to the Issuer, the Trustee, the Transfer Agent or the Registrar pursuant to this 
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Section 2.06 to effect a registration of transfer or exchange may be submitted initially by facsimile with originals to be delivered promptly thereafter to the Trustee.
Section 2.07    Replacement Notes
.
a.If any mutilated Note is surrendered to the Registrar, the Trustee or the Issuer and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuer will issue and the Trustee, upon receipt of an Authentication Order, will authenticate or cause the Authenticating Agent to authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Issuer, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Issuer to protect the Issuer, the Trustee, any Agent from any loss that any of them may suffer if a Note is replaced. The Issuer and the Trustee may charge the Holder for its expenses in replacing a Note, including but not limited to reasonable fees and expenses of counsel.
b.Every replacement Note is an additional obligation of the Issuer and will be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder.
Section 2.08    Outstanding Notes
.
The Notes outstanding at any time are all the Notes authenticated by the Trustee or the Authenticating Agent except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Note; however, Notes held by the Issuer or any of its Subsidiaries shall not be deemed to be outstanding for the purposes of Section 3.07(b) hereof.
If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser. If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. If a Paying Agent (other than the Issuer, a Subsidiary of the Issuer or an Affiliate of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest.
Section 2.09    Treasury Notes
.
In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer, will be considered as though not Outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded.
Section 2.10    Temporary Notes
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.
Until certificates representing Notes are ready for delivery, the Issuer may prepare and the Trustee, upon receipt of an Authentication Order, will authenticate or cause the Authenticating Agent to authenticate temporary Notes. Temporary Notes will be substantially in the form of certificated Notes but may have variations that the Issuer considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuer will prepare and the Trustee or the Authenticating Agent will authenticate definitive Notes in exchange for temporary Notes.
Holders of temporary Notes will be entitled to all of the benefits of this Indenture.
Section 2.11    Cancellation
The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar, each Paying Agent and any Transfer Agent will forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee, in accordance with its customary procedures, or at the direction of the Trustee, the Registrar or the Paying Agent and no one else will cancel (subject to the Trustee’s retention policy) all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled Notes (subject to the record retention requirement of the U.S. Exchange Act). Certification of the destruction of all canceled Notes will be delivered to the Issuer following a written request from the Issuer. The Issuer may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. The Issuer undertakes to promptly inform the Luxembourg Stock Exchange (as long as the Notes are admitted to trading on the Euro MTF Market and listed on the Official List of the Luxembourg Stock Exchange) of any such cancellation.
Section 2.12    Defaulted Interest
If the Issuer defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer will notify the Trustee as soon as practicable in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Issuer will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be less than ten (10) days prior to the related payment date for such defaulted interest. At least fifteen (15) days before the special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) will mail or cause to be mailed to the Holders in accordance with Section 14.01 hereof a notice that states the special record date, the related payment date and the amount of such interest to be paid. The Issuer undertakes to promptly inform the Luxembourg Stock Exchange (as long as the Notes are admitted to trading on the Euro MTF Market and listed on the Official List of the Luxembourg Stock Exchange) of any such special record date.
Section 2.13    Further Issues
a.Subject to compliance with Section 4.09 hereof, the Issuer may from time to time issue Additional Notes, which shall have identical terms and conditions as the Initial Notes (save for payment of interest accruing prior to the issue date of such Additional Notes or for the first payment of interest following the issue date of such Additional Notes). The Initial Notes and any Additional Notes will be treated as a single class for all purposes under this Indenture, including, without limitation, with respect to waivers, amendments, redemptions, and offers to purchase except as otherwise specified with respect to each series of Notes, provided, however, that any such Additional 
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Notes that are not fungible with the Initial Notes for U.S. federal income tax purposes will be issued under a different CUSIP, ISIN, Common Code or other identifying number.
b.Whenever it is proposed to create and issue any Additional Notes, the Issuer shall give to the Trustee not less than three Business Days’ notice in writing of its intention to do so, stating the amount of Additional Notes proposed to be created and issued.
Section 2.14    CUSIP, ISIN or Common Code Number
The Issuer in issuing the Notes may use a “CUSIP”, “ISIN” or “Common Code” number and, if so, such CUSIP, ISIN or Common Code number shall be included in notices of redemption or exchange as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP, ISIN or Common Code number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or exchange shall not be affected by any defect in or omission of such numbers.
The Issuer will promptly notify the Trustee in writing of any change in the CUSIP, ISIN or Common Code number.
Section 2.15    Deposit of Moneys
No later than 10:00 a.m. (New York time), on the Business Day prior to each Interest Payment Date, the maturity date of the Notes and each payment date relating to an Excess Proceeds Offer or a Change of Control Offer, and on the Business Day immediately following any acceleration of the Notes pursuant to Section 6.02 hereof, the Issuer shall deposit with the Paying Agent, in immediately available same-day freely transferrable funds, money in U.S. Dollars sufficient to make cash payments, if any, due on such day or date, as the case may be. Subject to actual receipt of such funds as provided by this Section 2.15 by the designated Paying Agent, such Paying Agent shall remit such payment in a timely manner to the Holders on such day or date, as the case may be, to the Persons and in the manner set forth in paragraph 2 of the Notes. The Issuer shall promptly notify the Trustee and the Paying Agent of its failure to so act.
Section 2.16    Agents
a.The rights, powers, duties and obligations and actions of each Agent under this Indenture are several and not joint or joint and several.
b.The Issuer and the Agents acknowledge and agree that in the event of a Default or Event of Default, the Trustee may, by notice in writing to the Issuer and the Agents, require that the Agents act as agents of, and take instructions exclusively from, the Trustee.
c.The Issuer shall provide the Agents with a certified list of authorized signatories.
d.The Agents shall hold all funds as banker subject to the terms of this Indenture and as a result, such money shall not be held in accordance with the rules established by the Financial Conduct Authority in the Financial Conduct Authority’s Handbook of rules and guidance from time to time in relation to client money. Each Agent shall not be liable to account for any interest on money paid to it. Money held by the Agent need not be segregated except as required by law.
ARTICLE 3
Redemption and Prepayment

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Section 3.01    Notices to Trustee

If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 and 3.08 hereof, it shall deliver to the Trustee in accordance with Section 14.01 hereof, at least 10 days but not more than 60 days before a redemption date, an Officer’s Certificate setting forth:
a.the clause of this Indenture pursuant to which the redemption shall occur;
b.the redemption date and the record date;
c.the principal amount of Notes to be redeemed;
d.the redemption price; 
e.beginning and ending pool factor (for Notes represented by a Global Note and subject to a partial redemption); and
f.the CUSIP, ISIN or Common Code numbers of the Notes, as applicable.
Section 3.02    Selection of Notes to Be Redeemed or Purchased.
If fewer than all of the Notes are to be redeemed or purchased in an offer to purchase at any time, the Paying Agent or Registrar will select the Notes to be redeemed by lot, or if permitted, on a pro rata basis (or, in the case of any Global Notes, on a pro rata pass-through distribution of principal basis in accordance with the procedures of DTC) unless otherwise required by law or applicable stock exchange or depository requirements. None of the Trustee, the Paying Agent or the Registrar shall be liable for any selections made by the Paying Agent or the Registrar in accordance with this Section 3.02.
Notices of purchase or redemption will be given to each Holder pursuant to Sections 3.03 and 14.01 hereof.
If any Note is to be redeemed in part only, the notice of redemption that relates to that Note will state the portion of the principal amount of that Note that is to be redeemed. In the case of Definitive Registered Notes, a new Note in principal amount equal to the unredeemed portion of the original Note will be issued in the name of the Holder upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of Notes called for redemption.
On or after any purchase or redemption date, unless the Issuer defaults in payment of the purchase or redemption price, interest shall cease to accrue on Notes or portions thereof tendered for purchase or called for redemption.
Section 3.03    Notice of Redemption
a.At least 10 days but not more than 60 days before a redemption date, the Issuer will mail by first class mail (or deliver by means of publication through DTC) a notice of redemption to each Holder whose Notes are to be redeemed at its address as it appears on the register of the relevant Registrar, except that redemption notices may be mailed, or delivered, more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or the satisfaction and discharge of this Indenture pursuant to Articles 8 or 13 hereof. So long as any Notes are admitted to trading on the Euro MTF Market and listed on the Official List of the Luxembourg Stock Exchange and the rules of the Luxembourg Stock Exchange so require, any such notice to the Holders of the relevant Notes shall , to the extent and in the manner permitted by such rules, be posted on the official 
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website of the Luxembourg Stock Exchange (www.bourse.lu) and, in connection with any redemption, the Issuer will forthwith notify the Luxembourg Stock Exchange of any change in the principal amount of Notes Outstanding.
b.The notice will identify the Notes to be redeemed and corresponding CUSIP, ISIN or Common Code numbers, as applicable, and will state:
1.the redemption date and the record date;
2.the redemption price and the amount of accrued interest, if any, and Additional Amounts, if any, to be paid;
3.if any Global Note is being redeemed in part, the portion of the principal amount (including the beginning and ending pool factor) of such Global Note to be redeemed and that, after the redemption date,  the principal amount thereof will be decreased by the portion thereof redeemed pursuant thereto;
4.if any Definitive Registered Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed, and that, after the redemption date, upon surrender of such Note, a new Definitive Registered Note or Definitive Registered Notes in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Definitive Registered Note;
5.the name and address of the Paying Agent(s) to which the Notes are to be surrendered for redemption;
6.that Notes called for redemption must be surrendered to the relevant Paying Agent to collect the redemption price, plus accrued and unpaid interest, if any, and Additional Amounts, if any;
7.that, unless the Issuer defaults in making such redemption payment, interest, and Additional Amounts, if any, on Notes called for redemption cease to accrue on and after the redemption date;
8.the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and
9.that no representation is made as to the correctness or accuracy of the CUSIP, ISIN or Common Code numbers, if any, listed in such notice or printed on the Notes.
c.At the Issuer’s request, the Trustee (or the Paying Agent) will give the notice of redemption in the Issuer’s name and at its expense in accordance with Section 14.01 hereof; provided, however, that the Issuer will have delivered to the Trustee, at least ten days prior to the date the notice is required to be delivered pursuant to clause (a) above, an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph.
Section 3.04    Effect of Notice of Redemption
A notice of redemption may, at the Issuer’s discretion, be subject to satisfaction of one or more conditions precedent. On and after a redemption date, unless the Issuer defaults in payment of the purchase or redemption price, interest shall cease to accrue on such Notes or portion of them called for redemption.
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Section 3.01    Deposit of Redemption or Purchase Price
a.No later than 10:00 a.m. (New York time) on the Business Day prior to the redemption or purchase date, the Issuer will deposit with the Trustee or with the Paying Agent money in U.S. Dollars sufficient to pay the redemption or purchase price of, and accrued interest and Additional Amounts (if any) on, all Notes to be redeemed on that date. The Trustee or the Paying Agent will promptly return to the Issuer any money deposited with the Trustee or the Paying Agent, as applicable, by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest and Additional Amounts, if any, on, all Notes to be purchased or redeemed.
b.If the Issuer complies with the provisions of Section 3.05(a) hereof, on and after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after a record date for the payment of interest but on or prior to the related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the Issuer to comply with Section 3.05(a) hereof, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof.
Section 3.06    Notes Redeemed or Purchased in Part
Upon surrender of a Definitive Registered Note that is redeemed or purchased in part, the Issuer will issue and, upon receipt of an Authentication Order, the Trustee or the Authenticating Agent will authenticate for (and in the name of) the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided that any Definitive Registered Note shall be in a principal amount of $200,000 or an integral multiple of $1,000 above $200,000.
Section 3.07    Optional Redemption
Except pursuant to this Section 3.07 and Section 3.08 hereof, the Notes are not redeemable at the Issuer’s option. The Issuer is not, however, prohibited from acquiring the Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase or otherwise, so long as the acquisition does not otherwise violate the terms of this Indenture. The Issuer may make any redemption or redemption notice subject to the satisfaction of conditions precedent. If such redemption or notice is subject to satisfaction of one or more conditions precedent, such notice shall state that, in the Issuer’s discretion, the redemption date may be delayed until such time (but no more than 60 days after the date of the notice of redemption) as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or waived by the redemption date, or by the redemption date as so delayed, or such notice may be rescinded at any time in the Issuer’s discretion if in the good faith judgement of the Issuer any or all of such conditions will not be satisfied or waived. In addition, the Issuer may provide in such notice that payment of the redemption price and performance of the Issuer’s obligations with respect to such redemption may be performed by another Person.
If a redemption date is not a Business Day, payment may be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such redemption date if it were a Business Day for the intervening period. If the optional redemption date is on or after an interest record date and on or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is 
46

registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption.
a.At any time prior to April 27, 2026, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional Notes) at a redemption price of 104.500% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), with the proceeds from one or more Equity Offerings or any sale of Qualified Capital Stock of any Restricted Subsidiary of the Issuer. The Issuer may only do this, however, if:
1.at least 50% of the aggregate principal amount of Notes that were initially issued under this Indenture would remain outstanding immediately after the proposed redemption; and
2.the redemption occurs within 180 days after the closing of such Equity Offering or sale of Qualified Capital Stock.
Any notice for such a redemption may be given prior to completing the Equity Offering or sale of Qualified Capital Stock and be conditioned upon its completion.
b.At any time prior to April 27, 2026, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional Notes) at a redemption price of 104.500% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), with the Net Available Proceeds from one or more Specified Subsidiary Sales. The Issuer may only do this, however, if:
1.at least 50% of the aggregate principal amount of Notes that were initially issued would remain outstanding immediately after the proposed redemption; and
2.the redemption occurs within 365 days from the later of the date of such Specified Subsidiary Sale or the receipt of such Net Available Proceeds.
c.During each 12 month period commencing on the Issue Date and ending on April 27, 2026, upon not less than 10 nor more than 60 days’ prior notice to the Trustee and the Holders, the Issuer may redeem up to 10% of the original aggregate principal amount of the Notes (including Additional Notes) at a redemption price equal to 103% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and Additional Amounts, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date).
d.At any time prior to April 27, 2026, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may also redeem all or part of the Notes (including Additional Notes) at a redemption price equal to 100% of the principal amount thereof plus the Applicable Redemption Premium and accrued and unpaid interest and Additional Amounts, if any, to the date of redemption, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date.
e.At any time on or after April 27, 2026 and prior to maturity, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may redeem all or part of the Notes. These redemptions will be in amounts of $200,000 or integral multiples of $1,000 in excess 
47

thereof at the following redemption prices (expressed as percentages of their principal amount at maturity), plus accrued and unpaid interest and Additional Amounts, if any, to the redemption date, if redeemed during the 12- month period commencing on April 27 of the years set forth below:
						
	Year	Redemption Price
	2026	102.250%
	2027	101.500%
	2028	100.750%
	2029 and thereafter	100.000%

Section 3.08    Redemption upon changes in withholding taxes
The Issuer may redeem the Notes, in whole but not in part, at its option, at 100% of the outstanding principal amount thereof plus accrued and unpaid interest to the date of redemption and any Additional Amounts (as defined under Section 4.22(a) hereof) payable with respect thereto, if:
a.as a result of (i) any change in, or amendment to, the laws or treaties (or any regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction (as defined under Section 4.22(a) hereof) affecting taxation which is publicly announced and becomes effective on or after the Issue Date or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the Issue Date, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under this Indenture or (ii) any change in, or amendment to, the existing official published position (including any such change or amendment occurring as a result of the introduction of an official position) regarding the application, administration or interpretation of the laws or treaties (or any regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction (including any such change or amendment occurring as a result of a holding, judgment or order by a court of competent jurisdiction or a change in published practice), which change or amendment is publicly announced and, where applicable, becomes effective on or after the Issue Date or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the Issue Date, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under this Indenture (either, a “Change in Tax Law”), the Issuer has or will become obligated to pay Additional Amounts; and
b.such obligation cannot be avoided by the Issuer taking reasonable measures available to it; provided, however, that for this purpose reasonable measures shall not include any change in the Issuer’s jurisdiction of organization or the location of its principal executive office, or the incurrence of material out of pocket costs by it. No such notice of redemption will be given earlier than 90 days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts if a payment in respect of the Notes were then due.
Prior to the publication or mailing of any notice of redemption of the Notes as described below, the Issuer must deliver to the Trustee (i) an Officers’ Certificate stating that the Issuer is entitled to effect such redemption and (ii) an opinion of legal counsel of recognized standing stating that the Issuer has or will become obligated to pay Additional Amounts due to a Change in Tax Law. The Trustee will accept and shall be entitled to rely on this certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent set forth in clauses (1) and (2) above, upon which it will be conclusive and binding on the Holders.
Section 3.09    [Reserved]

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Section 3.10    Sinking fund. 

The Issuer will not be required to make any mandatory redemption or sinking fund payments with respect to the Notes .
Section 3.11    [Reserved]
Section 3.12    Offer to Purchase by Application of Excess Proceeds
a.In the event that, pursuant to Section 4.10 hereof, the Issuer is required to commence an offer to all Holders to purchase the Notes (an “Excess Proceeds Offer”), it will follow the procedures specified in this Section 3.12.
b.Each Excess Proceeds Offer will be made to all Holders and, to the extent applicable, to all holders of other Debt that is pari passu with the Notes containing provisions similar to those set forth in this Indenture with respect to offers to purchase, prepay or redeem with the proceeds of sales of assets. Each Excess Proceeds Offer will remain open for a period of at least 20 Business Days and not more than 60 Business Days, following its commencement except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than three Business Days after the termination of the Offer Period (the “Purchase Date”), the Issuer will apply all Excess Proceeds, in the case of an Excess Proceeds Offer (the “Offer Amount”) to the purchase of the Notes and, if applicable, such other Pari Passu Debt (on a pro rata basis based on the principal amount of the Notes and such other Pari Passu Debt surrendered, if applicable or, if less than the Offer Amount has been tendered, all Notes and, if applicable, other Debt tendered in response to the Excess Proceeds Offer). Payment for any Notes so purchased will be made in the same manner as interest payments are made.
c.If the Purchase Date is on or after a record date for the payment of interest and on or before the related payment date, any accrued and unpaid interest, if any, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the Excess Proceeds Offer.
d.Upon the commencement of an Excess Proceeds Offer, the Issuer will send, by first class mail, a notice to the Trustee and each of the Holders with a copy to the Trustee. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Excess Proceeds Offer. The notice, which will govern the terms of the Excess Proceeds Offer, will state:
1.that the Excess Proceeds Offer is being made pursuant to this Section 3.12 and Section 4.10 hereof and the length of time the Excess Proceeds Offer will remain open;
2.the Offer Amount, the purchase price and the Purchase Date;
3.that any Note not tendered or accepted for payment will continue to accrue interest;
4.that, unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Excess Proceeds Offer will cease to accrue interest after the Purchase Date;
5.that Holders electing to have a Note purchased pursuant to an Excess Proceeds Offer may elect to have Notes purchased in whole or in part in a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof;
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6.that Holders electing to have a Note purchased pursuant to any Excess Proceeds Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, or transfer by book-entry transfer through the facilities of the Depositary, to the account of the Issuer, or a Paying Agent at the address specified in the notice at least three days before the Purchase Date;
7.that Holders will be entitled to withdraw their election if the Issuer, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased;
8.that, if the aggregate principal amount of Notes and other Pari Passu Debt surrendered by holders thereof exceeds the Offer Amount, the Issuer will select the Notes and other Pari Passu Debt to be purchased on a pro rata basis based on the principal amount of Notes and such other Pari Passu Debt surrendered (with such adjustments as may be deemed appropriate by the Issuer such that Notes will be purchased in whole or in part in a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof); and
9.that Holders whose Definitive Registered Notes were purchased only in part will be issued new Definitive Registered Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer).
e.On or before the Purchase Date, the Issuer will, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Excess Proceeds Offer, or if less than the Offer Amount has been tendered, all Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance with the terms of this Section 3.12. The Issuer or its Paying Agent, as the case may be, will promptly (but in any case not later than five days after the Purchase Date) mail or deliver to each tendering Holder in the manner specified in the Notes an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the Issuer for purchase. In connection with any purchase of Global Notes pursuant hereto, the Trustee will endorse such Global Notes to reflect the decrease in principal amount of such Global Note resulting from such purchase. In connection with any partial purchase of Definitive Registered Notes, the Issuer will promptly issue a new Definitive Registered Note, and the Trustee, upon written request from the Issuer, will procure the authentication of and mail or deliver such new Definitive Registered Note to the tendering Holder, in a principal amount equal to any unpurchased portion of the Definitive Registered Note surrendered. Any Note tendered but not accepted will be promptly mailed or delivered by the Issuer to the Holder thereof. The Issuer will publicly announce and inform the Luxembourg Stock Exchange (for as long as the Notes (if any) are admitted to trading on the Euro MTF Market and listed on the Official List of the Luxembourg Stock Exchange) of the results of the Excess Proceeds Offer on the Purchase Date.
f.Other than as specifically provided in this Section 3.12, any purchase pursuant to this Section 3.12 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof (it being understood that any purchase pursuant to this Section 3.12 shall not be subject to conditions precedent).
Section 3.13    Post-Tender Redemption

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In connection with any tender offer or other offer to purchase for all of the Notes, (including, for the avoidance of doubt, any Change of Control Offer or Excess Proceeds Offer (each as defined herein)), if Holders of not less than 90% of the aggregate principal amount of the then Outstanding Notes validly tender and do not validly withdraw such Notes in such tender offer and the Issuer, or any third party making such tender offer in lieu of the Issuer, purchases all of the Notes validly tendered and not validly withdrawn by such Holders, the Issuer or such third party will have the right upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, given not more than 30 days following such tender offer expiration date, to redeem all Notes, that remain Outstanding following such purchase at a price equal to the price paid to each other Holder (excluding any early tender or incentive fee) in such tender offer, plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon, to, but excluding, the date of such redemption.
ARTICLE 4
Covenants

Section 4.01    Payment of Notes

The Issuer will pay or cause to be paid the principal of, premium on, if any, interest and Additional Amounts, if any, on, the Notes on the dates and in the manner provided in the Notes and this Indenture. Principal, premium, if any, interest and Additional Amounts, if any, will be considered paid on the date due if the Trustee or the Paying Agent, if other than the Issuer, holds as of 10:00 a.m. (New York time) one Business Day prior to the due date money deposited by the Issuer in immediately available same-day freely transferrable funds and designated for and sufficient to pay all principal, premium, if any, and interest and Additional Amounts, if any, then due. If the Issuer or any of its Subsidiaries acts as Paying Agent, principal, premium, if any, interest and Additional Amounts, if any, shall be considered paid on the due date if the entity acting as Paying Agent complies with Section 2.04 hereof.
Principal of, interest, premium, if any, and Additional Amounts, if any, on the Notes will be payable at the specified office or agency of the Paying Agent. All payments on the Global Notes will be made by transfer of immediately available funds to an account of the Holder of the Global Notes in accordance with instructions given by that Holder.
Principal of, interest, premium, if any, and Additional Amounts, if any, on any Definitive Registered Notes will be payable at the specified office or agency of any Paying Agent in any location required to be maintained for such purposes pursuant to Section 2.03 hereof. In addition, interest on Definitive Registered Notes may be paid by check mailed to the person entitled thereto as shown on the Register for such Definitive Registered Notes.
The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the then applicable interest rate on the Notes. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Amounts, if any (without regard to any applicable grace period), at the then applicable interest rate on the Notes to the extent lawful.
The Paying Agent shall be entitled to make payments net of any taxes or other sums required by applicable law to be withheld or deducted.
Section 4.02    Maintenance of Office or Agency
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.
The Issuer will maintain the offices and agencies specified in Section 2.03 hereof. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the trust office of the Trustee (the address of which is specified in Section 14.01 hereof).
The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission will in any manner relieve the Issuer of its obligation to maintain an office or agency in the city of London for such purposes. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.
The Issuer hereby designates the trust office of the Trustee (the address of which is specified in Section 14.01 hereof) as one such office or agency of the Issuer in accordance with Section 2.03 hereof.
Section 4.03    Provision of financial information
a.The Issuer will furnish to the Trustee:
1.within 120 days after the end of the Issuer’s fiscal year, as applicable, beginning with the fiscal year ended December 31, 2020, annual reports containing: (i) a discussion of the Issuer’s financial results including information similar to “Item 5. Operating and Financial Review and Prospects” in the Issuer's annual report on Form 20-F for the year ended December 31, 2019, which was filed with the SEC on February 28, 2020, incorporated by reference into the Offering Memorandum; (ii) the audited consolidated statement of financial position of the Issuer as at the end of the most recent two fiscal years and audited consolidated income statements and statements of cash flow of Issuer for the most recent three fiscal years, including notes to such financial statements, for and as at the end of such fiscal years and the report of the independent auditors on the financial statements; and (iii) if required under IFRS, a pro forma income statement and a statement of financial position information of the Issuer, together with explanatory footnotes, for any acquisitions, dispositions or recapitalizations that have occurred since the beginning of the most recently completed fiscal year as to which such annual report relates (unless such pro forma information has been provided in a previous report pursuant to clause (b) or (c) below); provided that such pro forma financial information will be provided only to the extent available without unreasonable expense, in which case the Issuer will provide, in the case of a material acquisition, acquired company financials to the extent available without unreasonable expense;
2.within 60 days after the end of each of the first three fiscal quarters of the Issuer’s fiscal year, as applicable, beginning with the quarter ended March 31, 2021, quarterly reports containing the following information: (i) the unaudited condensed consolidated statement of financial position of the Issuer as at the end of such quarter and unaudited condensed consolidated income statements and statements of cash flow of each of the Issuer for the most recent quarter and year to date periods ending on the unaudited condensed consolidated statement of financial position date and the comparable prior period (as determined by the IFRS standard on preparation of interim condensed consolidated financial statements) and (ii) a copy of the related operating and financial review included in the 
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quarterly earnings release of the Issuer for the applicable fiscal quarter; and within 90 days after the end of each of the first three fiscal quarters of each of the Issuer’s fiscal year, as applicable, if required under IFRS, a pro forma interim condensed consolidated income statement and a statement of financial position of the Issuer, together with explanatory footnotes, for any material acquisitions, dispositions or recapitalizations that have occurred since the beginning of the most recently completed fiscal year as to which such quarterly report relates; provided that such pro forma financial information will be provided only to the extent available without unreasonable expense, in which case the Issuer will provide, in the case of a material acquisition, acquired company financial statements to the extent available without unreasonable expense, provided that for so long as the Issuer maintains a listing on the Nasdaq Stockholm Exchange, the quarterly reports filed by the Issuer as required by the rules of the Nasdaq Stockholm Exchange shall be deemed to fulfill the requirements of this clause (2); and
3.promptly after the occurrence of any material acquisition, disposition or restructuring of the Issuer and its Subsidiaries taken as a whole, or any changes of the Chief Executive Officer or Chief Financial Officer at the Issuer, or a change in the auditors of the Issuer, or any other material event that the Issuer announces publicly, a press release or report containing a description of such event.
b.At any time that any of the Issuer’s Subsidiaries are Unrestricted Subsidiaries and any such Unrestricted Subsidiary or group of Unrestricted Subsidiaries, if taken together as one Subsidiary, constitutes a “significant subsidiary” of the Issuer, as defined in Article 1, Rule 1-02 of Regulation SX, promulgated pursuant to the U.S. Securities Act, then the annual and quarterly financial information required by clauses (a)(1) and (a)(2) of this Section 4.03 shall include either (i) a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, of the financial condition and results of operations of the Issuer and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Issuer, or (ii) standalone audited or unaudited financial statements, as the case may be, of such Unrestricted Subsidiary or Unrestricted Subsidiaries (as a group or otherwise) together with an unaudited reconciliation to the financial information of the Issuer and its Subsidiaries, which reconciliation shall include the following items: Revenue, Gross profit, Consolidated EBITDA, Net profit (loss), Cash and cash equivalents, Total assets, Total liabilities, Total equity and interest expense.
c.In addition, so long as the Notes remain Outstanding and during any period during which the Issuer is not subject to Section 13 or 15(d) of the Exchange Act nor exempt therefrom pursuant to Rule 12g3-2(b), the Issuer will furnish to Holders, holders of beneficial owners and prospective purchasers of the Notes upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.
d.The Issuer will also make available copies of all reports furnished to the Trustee (i) on the Issuer’s website, and (ii) for so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market and to the extent that the rules of the Luxembourg Stock Exchange so require, copies of such reports will be available during normal business hours at the offices of the Paying Agent.
Section 4.04    Compliance Certificate
a.The Issuer shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s Certificate stating that a review of the activities of the Issuer and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Issuer has kept, observed, performed and fulfilled its obligations 
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under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge, the Issuer has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Issuer is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of, premium on, if any, interest or Additional Amounts, if any, on, the Notes is prohibited or if such event has occurred, a description of the event and what action the Issuer is taking or proposes to take with respect thereto.
b.So long as any of the Notes are Outstanding, the Issuer will deliver to the Trustee, forthwith but not later than 30 days upon any Officer becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Issuer is taking or proposes to take with respect thereto.
Section 4.05     [Reserved].
Section 4.06    Stay, Extension and Usury Laws.
The Issuer covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Issuer (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, by resort to any such law, 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 has been enacted.
Section 4.07    [Reserved]
Section 4.08    [Reserved]
Section 4.09    Limitation on Debt.
a.The Issuer may not, and may not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Debt; provided that the Issuer and any of its Restricted Subsidiaries may Incur Debt if at the time of such Incurrence and after giving effect to the Incurrence of such Debt and the application of the proceeds thereof, on a pro forma basis, the Net Leverage Ratio is less than 3.0 to 1.0.
b.Notwithstanding the limitation in Section 4.09(a), the following Debt (“Permitted Debt”) may be Incurred:
1.the Incurrence by the Issuer of Debt pursuant to the Notes (other than Additional Notes);
2.any Debt of the Issuer or any of its Restricted Subsidiaries outstanding on the Issue Date after giving effect to the use of proceeds of the Notes;
3.Pari Passu Debt of the Issuer and Debt of its Restricted Subsidiaries under Credit Facilities in an aggregate principal amount at any one time outstanding that does not exceed an amount equal to the greater of (x) $900 million and (y) 8% of Total Assets; and any Permitted Refinancing Debt in respect thereof, plus, (A) any accrual or accretion of interest 
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that increases the principal amount of Debt under Credit Facilities and (B) in the case of any refinancing of Debt permitted under this clause (iii) or any portion thereof, the aggregate amount of fees, underwriting discounts, premiums and other costs and expenses Incurred in connection with such refinancing;
4.Debt owed by the Issuer to any of its Restricted Subsidiaries or Debt owed by any Restricted Subsidiary of the Issuer to the Issuer or any other Restricted Subsidiary of the Issuer; provided, however, that (A) if the Issuer is the obligor on such Debt and the payee is not the Issuer, such Debt must be unsecured and expressly subordinated (provided, for the avoidance of doubt, that such subordination shall only apply if an Event of Default specified in Section 6.01 (1), (2), (8) or (9) occurs) to the prior payment in full in cash of all obligations then due with respect to the Issuer’s obligations under the Notes, and (B) either (x) the transfer or other disposition by the Issuer or such Restricted Subsidiary of any Debt so permitted to a Person (other than to the Issuer or any of its Restricted Subsidiaries) or (y) such Restricted Subsidiary ceasing to be a Restricted Subsidiary of the Issuer, will at the time of such transfer or other disposition, in each case, be deemed to be an Incurrence of such Debt not permitted by this clause (4);
5.the Guarantee by the Issuer or any of its Restricted Subsidiaries of Debt of any of the Issuer’s Restricted Subsidiaries to the extent that the Guaranteed Debt was permitted to be Incurred by another provision of this Section 4.09;
6.Acquired Debt;
7.Minority Shareholder Loans;
8.the Incurrence by the Issuer or any of its Restricted Subsidiaries of Permitted Refinancing Debt in exchange for, or the net proceeds of which are used to refund, replace or refinance, Debt Incurred by it pursuant to Section 4.09(a) and clauses (1), (2), (6) and (8) of this Section 4.09(b), as the case may be;
9.Debt of the Issuer or any of its Restricted Subsidiaries represented by letters of credit in order to provide security for workers’ compensation claims, health, disability or other employee benefits, payment obligations in connection with self-insurance or similar requirements of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business;
10.customary indemnification, adjustment of purchase price or similar obligations, in each case, incurred in connection with the disposition of any assets of the Issuer or any of its Restricted Subsidiaries, and earn-out provisions or contingent payments in respect of purchase price or adjustment of purchase price or similar obligations in acquisition agreements other than Guarantees of Debt incurred by any Person acquiring all or any portion of such assets for the purpose of financing such acquisition; provided that the maximum aggregate liability in respect of each such Incurrence of such Debt will at no time exceed the gross proceeds actually received by the Issuer or any of its Restricted Subsidiaries in connection with the related disposition;
11.obligations in respect of (i) customs, VAT or other tax guarantees, (ii) bid, performance, completion, guarantee, surety and similar bonds, including guarantees or obligations of the Issuer or any of its Restricted Subsidiaries with respect to letters of credit supporting such obligations, (iii) customary cash management, cash pooling or netting or setting off arrangements, and (iv) the financing of insurance premiums, in each case in the ordinary course of business and not related to Debt for borrowed money;
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12.Debt of the Issuer or any of its Restricted Subsidiaries arising from the honoring by a bank or other financial institution of a check, draft or similar instrument including, but not limited to, electronic transfers, wire transfers, netting services and commercial card payments, drawn against insufficient funds; provided that such Debt is extinguished within 30 days of Incurrence;
13.Debt consisting of (a) mortgage financings, Purchase Money Obligations or other financings, Incurred for the purpose of financing all or any part of the purchase price or cost of construction or improvement of property, plant or equipment acquired or constructed in the ordinary course of business or (b) Debt otherwise Incurred to finance the purchase, lease, rental or cost of design, construction, installation or improvement of property (real or personal) or equipment that is used or useful in the ordinary course of business, whether through the direct purchase of assets or the Capital Stock of any Person owning such assets, and any Debt that refinances, replaces or refunds such Debt, in an aggregate outstanding principal amount that, when taken together with the principal amount of all other Debt Incurred pursuant to this clause (xiii) and then outstanding, will not exceed at any time the greater of $250 million and 3% of Total Assets;
14.Guarantees by the Issuer or any Restricted Subsidiary of Debt or any other obligation or liability of the Issuer or any Restricted Subsidiary (other than of any Debt Incurred in violation of this covenant); provided, however, that if the Debt being Guaranteed is subordinated in right of payment to the Notes, then such Guarantee shall be subordinated substantially to the same extent as the relevant Debt Guaranteed;
15.Debt of the Issuer or any Restricted Subsidiary in an aggregate outstanding principal amount which, when taken together with any Permitted Refinancing Debt in respect thereof and the principal amount of all other Debt Incurred pursuant to this clause (15) and then outstanding, will not exceed 100% of the cash proceeds (net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other fees and charges actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale (after taking into account any available tax credit or deductions and any tax sharing arrangements)) received by the Issuer from the issuance or sale (other than to the Issuer or a Restricted Subsidiary) of its Subordinated Shareholder Loans or Capital Stock or otherwise contributed to the equity of the Issuer, in each case, subsequent to the Issue Date (and in each case, other than through the issuance of Disqualified Stock or Preferred Stock);
16.Debt arising under borrowing facilities provided by a special purpose vehicle to the Issuer or any Restricted Subsidiary in connection with the issuance of notes or other similar debt securities intended to be supported primarily by the payment obligations of the Issuer or any Restricted Subsidiary in connection with any vendor financing platform; and
17.the Incurrence by the Issuer or any of its Restricted Subsidiaries of Debt not otherwise permitted to be Incurred pursuant to clauses (1) through (16) above, which, together with any other outstanding Debt Incurred pursuant to this clause (17), has an aggregate principal amount at any time outstanding not in excess of the greater of $300 million and 4% of Total Assets, and any Permitted Refinancing Debt of any debt which on the date it was Incurred was permitted to be Incurred pursuant to this clause (17), plus, in the case of any refinancing of Debt permitted under this clause (17) or any portion thereof, the aggregate amount of fees, underwriting discounts, premiums and other costs and expenses Incurred in connection with such refinancing.
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c.The Issuer will not incur any Debt (including Permitted Debt) that is contractually subordinated in right of payment to any other Debt of the Issuer unless such Debt is also contractually subordinated in right of payment to the Notes on substantially identical terms; provided, however, that no Debt will be deemed to be contractually subordinated in right of payment to any other Debt of the Issuer solely by virtue of being unsecured or by virtue of being secured with different collateral or by virtue of being secured on a junior priority basis or by virtue of the application of waterfall or other payment ordering provisions affecting different tranches of Debt.
d.For the purposes of determining compliance with this Section 4.09, in the event that an item of Debt meets the criteria of more than one of the types of Permitted Debt or is entitled to be Incurred pursuant to clause (a) of this Section 4.09, the Issuer in its sole discretion may classify and from time to time reclassify such item of Debt or any portion thereof and only be required to include the amount of such Debt as one of such types.
e.For the purposes of determining compliance with any covenant in this Indenture or whether an Event of Default has occurred, in each case, where Debt is denominated in a currency other than U.S. Dollars, the amount of such Debt will be the U.S. Dollar Equivalent determined on the date of such Incurrence and any covenant in this Indenture shall not be deemed to be exceeded solely as a result of fluctuations in exchange rates or currency values; provided, however, that if any such Debt that is denominated in a different currency is subject to an Interest Rate, Currency or Commodity Price Agreement with respect to U.S. Dollars covering principal and premium, if any, payable on such Debt, the amount of such Debt expressed in U.S. Dollars will be adjusted to take into account the effect of such an agreement.
Section 4.10    Limitation on Asset Dispositions
a.The Issuer may not, and may not permit any of its Restricted Subsidiaries to, make any Asset Disposition in one or more related transactions unless:
1.the consideration the Issuer or such Restricted Subsidiary receives for such Asset Disposition is not less than the Fair Market Value of the assets sold (as determined by the Issuer’s senior management or Board of Directors); and
2.unless the Asset Disposition is a Permitted Asset Swap, at least 75% of the consideration the Issuer or such Restricted Subsidiary receives in respect of such Asset Disposition consists of:
A.cash or Cash Equivalents;
B.the assumption of the Issuer’s or any of its Restricted Subsidiaries’ Debt or other liabilities (other than contingent liabilities or Debt or liabilities that are subordinated to the Notes) or Debt or other liabilities of such Restricted Subsidiary relating to such assets and, in each case, the Issuer or the Restricted Subsidiary, as applicable, is released from all liability on the Debt assumed;
C.any Capital Stock or assets of the kind referred to in clauses (b)(4) or (5) of this Section 4.10;
D.a combination of the consideration specified in clauses (A) through (C) of this clause (2); and
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b.within 365 days of such Asset Disposition, the Net Available Proceeds are applied (at the Issuer or applicable Restricted Subsidiary’s option):
1.to repay, redeem, retire or cancel outstanding Senior Secured Debt:
2.first, to redeem Notes or purchase Notes pursuant to an offer to all Holders at a purchase price equal to at least 100% of the principal amount thereof, plus accrued and unpaid interest and second, to the extent any Net Available Proceeds from such Asset Disposition remain, to any other use as determined by the Issuer or the applicable Restricted Subsidiary that is not otherwise prohibited by this Indenture;
3.to repurchase, prepay, redeem or repay Pari Passu Debt; provided that the Issuer makes an offer to all Holders on a pro rata basis to purchase their Notes in accordance with the provisions set forth below for an Excess Proceeds Offer;
4.to acquire all or substantially all of the assets of, or any Capital Stock of, another Related Business, if, after giving effect to any such acquisition of Capital Stock, the Related Business is or becomes a Restricted Subsidiary of the Issuer;
5.to make a capital expenditure or acquire other assets (other than Capital Stock and cash or Cash Equivalents), rights (contractual or otherwise) and properties, whether tangible or intangible (including ownership interests) that are used or intended for use in connection with a Related Business;
6.to the extent permitted, to redeem Notes as provided under Section 3.07 hereof;
7.enter into a binding commitment to apply the Net Available Proceeds pursuant to clauses (4) or (5) of this clause (b); provided that such binding commitment (or any subsequent binding commitment replacing the initial binding commitment that is entered into within 180 days following the aforementioned 365-day period) shall be treated as a permitted application of the Net Available Proceeds from the date of such commitment until the earlier of (X) the date on which such acquisition or expenditure is consummated and (Y) the 180th day following the expiration of the aforementioned 365-day period; or 
8.any combination of the foregoing clauses (1) through (7) of this clause (b).
c.For purposes of Section 4.10(b), any securities, notes or other obligations received by the Issuer or any such Restricted Subsidiary from such transferee that are promptly converted by the recipient thereof into cash, Cash Equivalents or readily marketable securities (to the extent of the cash, Cash Equivalents or readily marketable securities received in that conversion), shall be deemed cash.
d.The amount of such Net Available Proceeds not so used as set forth in Section 4.10(b) constitutes “Excess Proceeds.” Pending the final application of any such Net Available Proceeds, the Issuer may temporarily reduce revolving credit borrowings or otherwise use such Net Available Proceeds in any manner that is not prohibited by the terms of this Indenture.
e.When the aggregate amount of Excess Proceeds exceeds $75 million, the Issuer will, within 15 Business Days of the end of the applicable period in clause (b) of this Section 4.10, make an offer to purchase (an “Excess Proceeds Offer”) from all Holders and from the holders of any Pari Passu Debt, to the extent required by the terms thereof, on a pro rata basis, in accordance with Section 3.12 hereof or the agreements governing any such Pari Passu Debt, the maximum principal amount (expressed as a minimum amount of $200,000 and integral multiples of $1,000 in excess 
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thereof) of the Notes and any such Pari Passu Debt that may be purchased with the amount of the Excess Proceeds. The offer price as to each Note and any such Pari Passu Debt will be payable in cash in an amount equal to (solely in the case of the Notes) 100% of the principal amount of such Note and (solely in the case of Pari Passu Debt) no greater than 100% of the principal amount (or accreted value, as applicable) of such Pari Passu Debt, plus, in each case, accrued and unpaid interest, if any, to the date of purchase.
f.To the extent that the aggregate principal amount of Notes and any such Pari Passu Debt tendered pursuant to an Excess Proceeds Offer is less than the aggregate amount of Excess Proceeds, the Issuer may use the amount of such Excess Proceeds not used to purchase Notes and Pari Passu Debt for purposes that are not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes and any such Pari Passu Debt validly tendered and not withdrawn by holders thereof exceeds the aggregate amount of Excess Proceeds, the Notes and any such Pari Passu Debt to be purchased will be selected by the Issuer on a pro rata basis (based upon the principal amount of Notes and the principal amount or accreted value of such Pari Passu Debt tendered by each holder as provided or calculated by the Issuer). Upon completion of each such Excess Proceeds Offer, the amount of Excess Proceeds will be reset to zero.
g.If the Issuer is obliged to make an Excess Proceeds Offer, the Issuer will purchase the Notes and Pari Passu Debt, at the option of the holders thereof, in whole or in part in a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof on a date that is not later than 60 days from the date the notice of the Excess Proceeds Offer is given to such holders, or such later date as may be required under the Exchange Act.
h.If the Issuer is required to make an Excess Proceeds Offer, the Issuer will comply with the applicable tender offer rules, including Rule 14e-1 under the Exchange Act and any other applicable securities laws and regulations, including the requirements of any applicable securities exchange on which Notes are then listed. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 4.10 and Section 3.12 hereof, the Issuer will comply with such securities laws and regulations and will not be deemed to have breached its obligations described in this Section 4.10 or Section 3.12 hereof by virtue thereof.
Section 4.11    [Reserved]
Section 4.12    Limitation on Liens securing Debt
a.The Issuer may not, and may not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur, suffer to exist or become effective any Lien (other than Permitted Liens) to secure any Debt on or with respect to any property or assets now owned or hereafter acquired unless the Notes are equally and ratably secured by such Lien; provided that, if the Debt secured by such Lien is subordinated or junior in right of payment to the Notes, then the Lien securing such Debt shall be subordinated or junior in right of payment to the Lien securing the Notes.
b.Any Lien created for the benefit of the Holders pursuant to this Section 4.12 will provide by its terms that such Lien will be automatically and unconditionally released and discharged upon the release and discharge of the initial Lien to which it relates other than as a consequence of an enforcement action with respect to the assets subject to such initial Lien.
c.For purposes of determining compliance with this Section 4.12, (x) a Lien need not be Incurred solely by reference to one category of Permitted Liens but may be Incurred under any combination of such categories (including in part under one such category and in part under any other such category) and (y) in the event that a Lien (or any portion thereof) meets the criteria of one or more of such categories of Permitted Liens the Issuer shall, in its sole discretion, divide, classify or 
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may subsequently reclassify at any time such Lien (or any portion thereof) in any manner that complies with this Section 4.12 and the definition of “Permitted Liens”.
d.With respect to any Lien securing Debt that was permitted to secure such Debt at the time of the Incurrence of such Debt, such Lien shall also be permitted to secure any Increased Amount of such Debt. The “Increased Amount” of any Debt shall mean any increase in the amount of such Debt in connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Debt with the same terms or in the form of common stock, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or liquidation preference, any fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection therewith and increases in the amount of Debt outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Debt.
Section 4.13    Limitation on lines of business
The Issuer, together with its Restricted Subsidiaries, will not primarily engage in any business other than in a Related Business.
Section 4.14    [Reserved]
Section 4.15    Change of Control
a.Within 60 days of the occurrence of a Change of Control Triggering Event, the Issuer will be required to make an Offer to Purchase all Outstanding Notes at a purchase price equal to 101% of their principal amount plus accrued interest and any Additional Amounts thereon to the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date) (a “Change of Control Offer”).
b.[Reserved].
c.The Issuer will not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if (x) another party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or (y) a notice of redemption has been given pursuant to Section 3.07 unless and until there is a default in payment of the applicable redemption price. Notwithstanding anything to the contrary contained herein, a Change of Control Offer may be made in advance of a Change of Control, conditioned upon the consummation of such Change of Control, if a definitive agreement is in place for the Change of Control at the time the Change of Control Offer is made.
Section 4.16    Limitation on Guarantees of the Issuer’s Debt by Subsidiaries
a.The Issuer will not permit any Significant Subsidiary to, directly or indirectly, provide a Guarantee of any of the Issuer’s Debt for which such Significant Subsidiary’s maximum exposure in respect of such Guarantee exceeds $50 million unless such Significant Subsidiary simultaneously executes and delivers to the Trustee a supplemental indenture providing for its payment Guarantee of the Notes; provided:
1.if the Issuer’s Debt is pari passu in right of payment to the Notes, such Significant Subsidiary’s Guarantee of the Issuer’s Debt shall rank pari passu in right of payment to its Guarantee of the Notes;
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2.if the Issuer’s Debt is subordinated in right of payment to the Notes, such Significant Subsidiary’s Guarantee of the Issuer’s Debt shall be subordinated in right of payment to its Guarantee of the Notes substantially to the same extent as the Issuer’s Debt is subordinated in right of payment to the Notes;
3.a Significant Subsidiary’s Guarantee of the Notes may be limited in amount to the extent required by fraudulent conveyance, thin capitalization, corporate benefit, financial assistance or other similar laws (but, in such a case, the Guarantee of the Notes shall be given on an equal and ratable basis with its Guarantee of the Issuer’s Debt to the extent permitted by applicable law); and
4.for so long as it is not permissible under applicable law for such Significant Subsidiary to provide a Guarantee of the Notes, such Significant Subsidiary need not provide such a Guarantee of the Notes (but, in such a case, the Issuer shall procure that such Significant Subsidiary will use its reasonable best efforts to undertake all whitewash or similar procedures legally available to it to eliminate the relevant legal prohibition, and shall give a Guarantee of the Notes at such time (and to the extent) that it thereafter becomes permissible).
b.Clause (a) of this Section 4.16 shall not apply to (1) the granting by such Significant Subsidiary of a Permitted Lien under circumstances which do not otherwise constitute the Guarantee of the Issuer’s Debt, (2) the Guarantee by any Significant Subsidiary of any Permitted Refinancing Debt that refinances Debt of the Issuer which benefitted from a Guarantee by any Significant Subsidiary Incurred in compliance with this covenant immediately prior to such refinancing, or (c) any Guarantee by a Significant Subsidiary existing as of the Issue Date.
c.Notwithstanding the foregoing, any Guarantee of the Notes created pursuant to the provisions described above shall provide by its terms that such Guarantee shall be automatically and unconditionally released and discharged upon: (x) such Subsidiary ceasing to be a Significant Subsidiary (including as a result of any sale, exchange or transfer, to any Person, of all of the Issuer’s Capital Stock in such Significant Subsidiary) in compliance with this Indenture; or (y) the release by the holders or lenders of the Issuer’s Debt described in the preceding paragraph of their Guarantee by such Significant Subsidiary (including any deemed release upon payment in full of all obligations under such Debt (but not under the relevant Guarantee)), at a time when (I) no other Debt of the Issuer has been Guaranteed by such Significant Subsidiary or (II) the holders of all such other Debt which is Guaranteed by such Significant Subsidiary also release their Guarantee by such Significant Subsidiary (including any deemed release upon payment in full of all obligations under such Debt (but not under the relevant Guarantee)).
Section 4.17    [Reserved]
Section 4.18    Payments for consent
The Issuer will not, and will not permit any of its Subsidiaries to, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder or beneficial holder of Notes for or as an inducement to any consent, waiver or amendment of any of the terms of the provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders and beneficial holders of Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement. Notwithstanding the foregoing, the Issuer and its Subsidiaries shall be permitted, in any offer or payment of consideration for, or as an inducement to, any consent, waiver or amendment of any of the terms or provisions of this Indenture, to exclude Holders and beneficial holders of Notes in any jurisdiction where (i) the solicitation of such consent, waiver or amendment, including in connection with an offer to purchase for cash, or (ii) the 
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payment of the consideration therefor would require the Issuer or any of its Subsidiaries to file a registration statement, prospectus or similar document under any applicable securities laws (including, but not limited to, the United States federal securities laws and the laws of the European Union or its member states or the United Kingdom), which the Issuer in its sole discretion determines (acting in good faith) (A) would be materially burdensome (it being understood that it would not be materially burdensome to file the consent document(s) used in other jurisdictions, any substantially similar documents or any summary thereof with the securities or financial services authorities in such jurisdiction); or (B) such solicitation would otherwise not be permitted under applicable law in such jurisdiction.
Section 4.19    [Reserved]
Section 4.20    Maintenance of listing
The Issuer will use its commercially reasonable efforts to obtain and maintain the listing of the Notes on the Official List of the Luxembourg Stock Exchange for so long as any Notes remain Outstanding; provided that if the Issuer is unable to obtain admission to listing of the Notes on the Official List of the Luxembourg Stock Exchange or if at any time the Issuer determines that it will not maintain such listing, it will use its commercially reasonable efforts to obtain and maintain a listing of the Notes on another recognized stock exchange.
Section 4.21    Financial Calculations for Limited Condition Transactions
a.In connection with any action being taken in connection with a Limited Condition Transaction, for purposes of determining compliance with any provision of this Indenture which requires that no Default or Event of Default, as applicable, has occurred, is continuing or would result from any such action, as applicable, such condition shall, at the option of the Issuer, be deemed satisfied, so long as no Default or Event of Default, as applicable, exists on the date the definitive agreement (or other relevant definitive documentation) for such Limited Condition Transaction is entered into. For the avoidance of doubt, if the Issuer has exercised its option under the first sentence of this paragraph, and any Default or Event of Default occurs following the date such definitive agreement for a Limited Condition Transaction is entered into and prior to the consummation of such Limited Condition Transaction, any such Default or Event of Default shall be deemed to not have occurred or be continuing for purposes of determining whether any action being taken in connection with such Limited Condition Transaction is permitted hereunder.
b.In connection with any action being taken in connection with a Limited Condition Transaction for purposes of:
1.determining compliance with any provision of this Indenture which requires the calculation of any financial ratio or test, including the Net Leverage Ratio; or
2.testing baskets set forth in this Indenture (including baskets measured as a percentage of Total Assets);
in each case, at the option of the Issuer (the Issuer’s election to exercise such option in connection with any Limited Condition Transaction, an “LCT Election”), the date of determination of whether any such action is permitted hereunder, shall be deemed to be the date the definitive agreement (or other relevant definitive documentation) for such Limited Condition Transaction is entered into (the “LCT Test Date”); provided, however, that the Issuer shall be entitled to subsequently elect, in its sole discretion, the date of consummation of such Limited Condition Transaction instead of the LCT Test Date as the applicable date of determination, and if, after giving pro forma effect to the Limited Condition Transaction and the other transactions to be entered into in connection therewith (including 
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any Incurrence of Debt and the use of proceeds thereof), as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Consolidated EBITDA” and “Net Leverage Ratio”, the Issuer or any Restricted Subsidiary could have taken such action on the relevant LCT Test Date in compliance with such ratio, test or basket, such ratio, test or basket shall be deemed to have been complied with.
c.If the Issuer has made an LCT Election and any of the ratios, tests or baskets for which compliance was determined or tested as of the LCT Test Date are exceeded as a result of fluctuations in any such ratio, test or basket, including due to fluctuations in Consolidated EBITDA or Total Assets, of the Issuer and its Restricted Subsidiaries at or prior to the consummation of the relevant transaction or action, such baskets or ratios will not be deemed to have been exceeded as a result of such fluctuations. If the Issuer has made an LCT Election for any Limited Condition Transaction, then in connection with any subsequent calculation of any ratio, test or basket availability under this Indenture (including with respect to the Incurrence of Debt or Liens, or the making of Asset Dispositions, acquisitions, mergers, the conveyance, lease or other transfer of all or substantially all of the assets of the Issuer or any Restricted Subsidiary or the Designation of an Unrestricted Subsidiary) on or following the relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the definitive agreement for such Limited Condition Transaction is terminated or expires without consummation of such Limited Condition Transaction, any such ratio, test or basket shall be calculated on a pro forma basis assuming such Limited Condition Transaction and other transactions in connection therewith (including any Incurrence of Debt and the use of proceeds thereof) have been consummated.
Section 4.22    Additional Amounts
a.The Issuer with respect to payments under the Notes agrees that, if any deduction or withholding of any present or future taxes, levies, imposts or charges whatsoever imposed by or for the account of any jurisdiction in which the Issuer is organized, engaged in business or resident for tax purposes, or from or through which payment on the Notes is made by or on behalf of the Issuer (including the jurisdiction of any paying agent) or any political subdivision or taxing authority thereof or therein having the power to tax (each, a “Relevant Taxing Jurisdiction”) and any interest, penalties and other liabilities with respect thereto (collectively, “Taxes”) shall be required to be made, the Issuer will (subject to the limitations described below) pay such additional amounts (“Additional Amounts”) in respect of principal (and premium, if any) and interest as may be necessary in order that the net amounts received pursuant to the Notes after such deduction or withholding (including any withholding or deduction from such Additional Amounts) shall equal the respective amounts of principal (and premium, if any) and interest specified in the Notes that would have been received if such Taxes had not been required to be withheld or deducted; provided, however, that the Issuer shall not be required to make any payment of Additional Amounts for or on account of:
1.any Taxes imposed by or for the account of a Relevant Taxing Jurisdiction which would not be payable but for the fact that the holder or beneficial owner of a Note (or a fiduciary, settlor, beneficiary, partner of, member or shareholder of, or possessor of a power over, the relevant holder, if the relevant holder is an estate, trust, nominee, partnership, limited liability company or corporation) is a citizen, domiciliary, national or resident of, incorporated in, or engaging in business or maintaining a permanent establishment or being physically present in, such Relevant Taxing Jurisdiction or otherwise having some present or former connection with such Relevant Taxing Jurisdiction other than the holding or ownership of such Note or the receipt of principal of (and premium, if any) and interest on such Note or the exercise of rights under or the enforcement of such Note or this Indenture;
2.any Tax that would not have been imposed but for the presentation of a Note (where presentation is required) for payment on a date more than 30 days after the date on 
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which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later, except to the extent that the holder would have been entitled to such Additional Amounts on presenting the same for payment on any day (including the last day) within such 30-day period;
3.[Reserved];
4.any Tax that would not have been imposed but for a failure by the relevant holder or beneficial owner of the Note to comply with any applicable certification, information, identification, documentation or other reporting requirements, whether required by statute, treaty, regulation or administrative practice, of a Relevant Taxing Jurisdiction, if such compliance is legally required as a precondition to relief or exemption from such Tax (including without limitation a certification that such holder or beneficial owner is not resident in the Relevant Taxing Jurisdiction); provided, however, that this clause (4) shall not apply if the Issuer shall not have provided the holder of the Note with written notice of the applicable requirement at least 60 days prior to the date that the holder or beneficial owner of the Note is required to comply with such applicable requirement;
5.any estate, inheritance, gift, sale, transfer, personal property or similar taxes;
6.[Reserved];
7.any Taxes payable other than by deduction or withholding from payments under, or with respect to, the Notes;
8.any Taxes imposed or withheld by reason of the failure of the holder or beneficial owner of the Note to comply with the requirements of Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), as of the date hereof (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), the U.S. Treasury Regulations issued thereunder or any official interpretation thereof, any law implementing an intergovernmental approach thereto or any agreement entered into pursuant to Section 1471 of the Code; or
9.any combination of clauses (1) through (8) above.
b.In addition, the Issuer shall not have any obligation to pay Additional Amounts to a holder that is a fiduciary or partnership or an entity that is not the sole beneficial owner of the payment of the principal or interest on a Note to the extent that the laws of the Relevant Taxing Jurisdiction require the payment to be included in the income of a beneficiary or settlor for tax purposes with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to the Additional Amounts had it been the holder of such Note.
c.If the Issuer becomes aware that it will be obligated to pay any Additional Amounts with respect to any payment under the Notes, the Issuer will deliver to the Trustee and the Paying Agent on a date that is at least 30 days prior to the date of that payment (unless that obligation to pay Additional Amounts arises less than 45 days prior to that payment date, in which case the Issuer shall notify the Trustee and the Paying Agent promptly thereafter) an Officer’s Certificate stating that the fact that Additional Amounts will be payable and the amount estimated to be so payable. The Officer’s Certificate must also set forth any other information reasonably necessary to enable the Paying Agent to pay Additional Amounts to Holders on the relevant payment date. The Trustee shall be entitled to rely solely on such Officer’s Certificate as conclusive proof that such payments are necessary.
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d.The Issuer will also make or cause to be made such withholding or deduction of Taxes required by law and will remit the full amount of Taxes so deducted or withheld to the relevant taxing authority in accordance with all applicable laws. The Issuer will use its reasonable efforts to obtain tax receipts from each such tax authority evidencing the payment of any Taxes so deducted or withheld. The Issuer will, upon request, make available to the Trustee and the paying agent, as soon as reasonably practicable after the date on which the payment of any Taxes so deducted or withheld is due pursuant to applicable law, certified copies of tax receipts evidencing such payment by the Issuer or if, notwithstanding the Issuer’s efforts to obtain such receipts, the same are not obtainable, other evidence reasonably available to the Issuer and reasonably satisfactory to the Trustee and the paying agent of such payment by the Issuer. If reasonably requested by the Trustee or the paying agent, the Issuer will provide to the Trustee and the paying agent such information as may be in the possession of the Issuer (and not otherwise in the possession of the Trustee and paying agent) to enable the Trustee and paying agent to determine the amount of withholding taxes attributable to any particular Holder, provided however that in no event shall the Issuer be required to disclose any information that it reasonably deems confidential or is otherwise not legally entitled to disclose.
e.In addition to the foregoing, the Issuer will pay, any present or future stamp, issue, registration, transfer, documentation, court, excise or property taxes imposed in connection with the execution, issue, delivery, registration or enforcement of the Notes or this Indenture.
f.The foregoing provisions will survive any termination, defeasance or discharge of this Indenture and will apply mutatis mutandis to any jurisdiction in which any successor Person to the Issuer is organized, engaged in business or resident for tax purposes or from or through which payment on the Notes is made by or on behalf of such successor Person (including the jurisdiction of any paying agent) or any political subdivision or taxing authority thereof or therein having the power to tax.
g.Whenever in this Indenture or the Notes there is mentioned, in any context, the payment of principal (and premium, if any), redemption price, interest or any other amount payable under any Note, such mention will be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are or would be payable in respect thereof.
Section 4.23    Suspension of certain covenants when Notes rated investment grade
a.If on any date following the Issue Date (the “Suspension Date”):
1.the Notes are rated Investment Grade by two of three Rating Agencies; and
2.no Default or Event of Default shall have occurred and be continuing on such date, then, the Issuer will notify the Trustee (provided that no such notification shall be a condition for the suspension of the covenants set forth below) and beginning on such Suspension Date and continuing until such time, if any, at which the Notes cease to be rated Investment Grade by either Rating Agency (such period, the “Suspension Period”), the covenants specifically listed under the following sections hereof will no longer be applicable to the Notes and any related default provisions of this Indenture will cease to be effective and will not be applicable to the Issuer:
A.Section 4.10;
B.Section 4.09; and
C.clause (3) of Section 5.01(a).
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b.Such covenants will not, however, be of any effect with regard to the actions of Issuer and its Restricted Subsidiaries properly taken during the continuance of the Suspension Period; provided that all Debt Incurred during the Suspension Period will be classified to have been Incurred pursuant to Section 4.09(b)(2). Upon the occurrence of a Suspension Period, the amount of Excess Proceeds shall be reset at zero.
Section 4.24    Limitation on Designation of Unrestricted Subsidiaries
a.The Issuer may designate, after the Issue Date, any Subsidiary of the Issuer (including any newly created or acquired Subsidiary) as an “Unrestricted Subsidiary” (a “Designation”) only if, at the time of or after giving effect to such Designation:
1.no Default or Event of Default shall have occurred and be continuing;
2.the Issuer could Incur US$1.00 of Debt pursuant to Section 4.09(a); and
3.the aggregate Investments (other than Permitted Investments) by the Issuer and its Restricted Subsidiaries in all Unrestricted Subsidiaries shall not exceed the greater of (x) $950 million or (y) 10% of Total Assets at any time outstanding.
b.Neither the Issuer nor any Restricted Subsidiary will at any time:
1.provide credit support for, subject any of its property or assets (other than Liens over the Capital Stock, Debt and other securities of any Unrestricted Subsidiary securing Debt of that Unrestricted Subsidiary and its Subsidiaries) to the satisfaction of, or Guarantee, any Debt of any Unrestricted Subsidiary (including any undertaking, agreement or instrument evidencing such Debt);
2.be directly or indirectly liable for any Debt of any Unrestricted Subsidiary;
3.be directly or indirectly liable for any Debt which provides that the holder thereof may (upon notice, lapse of time or both) declare a default thereon or cause the payment thereof to be accelerated or payable prior to its final scheduled maturity upon the occurrence of a default with respect to any Debt of any Unrestricted Subsidiary; or
4.make any Investment (other than a Permitted Investment) in any Unrestricted Subsidiary to the extent such Investment, together with the aggregate Investments in all Unrestricted Subsidiaries then outstanding, exceeds the amount set out in Section 4.24(a)(3).
c.The Issuer may redesignate an Unrestricted Subsidiary as a Restricted Subsidiary (a “Redesignation”) only if all Liens and Debt of such Unrestricted Subsidiary outstanding immediately following such Redesignation if Incurred at such time would have been permitted to be Incurred for all purposes of this Indenture.
d.For purposes of this Section 4.24:
1.“Investments” shall equal the portion (proportionate to the Issuer’s direct or indirect equity interest in a Restricted Subsidiary to be Designated as an Unrestricted Subsidiary) of the Fair Market Value of the net assets of such Restricted Subsidiary at the time of the Designation of such Subsidiary as an Unrestricted Subsidiary;
2.The aggregate Investments (other than Permitted Investments) by the Issuer and its Restricted Subsidiaries in all Unrestricted Subsidiaries shall be reduced upon the Redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary by an amount equal to 
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the lesser of (x) the Issuer’s direct or indirect “Investment” in such Unrestricted Subsidiary at the time of such Redesignation, and (y) the portion (proportionate to the Issuer’s direct or indirect equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Subsidiary at the time of such Redesignation;
3.any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer, as determined in good faith by the Issuer; and
4.the amount of any Investment outstanding at any time shall be reduced by any dividend, distribution, interest payment, return of capital, repayment or other amount received by the Issuer or a Restricted Subsidiary in respect of such Investment.
e.The Designation of a Subsidiary of the Issuer as an Unrestricted Subsidiary shall be deemed to include the Designation of all Subsidiaries of such Subsidiary as Unrestricted Subsidiaries.
f.All Designations and Redesignations shall be evidenced by an Officer’s Certificate of the Issuer, delivered to the Trustee certifying compliance with this Section 4.24.
Section 4.25    FATCA
a.Mutual Undertaking Regarding Information Reporting and Collection Obligations. Each party shall, within ten (10) business days of a written request by another party, supply to that other party such forms, documentation and other information relating to it, its operations, or the Notes as that other party reasonably requests for the purposes of that other party’s compliance with Applicable Law and shall notify the relevant other party reasonably promptly in the event that it becomes aware that any of the forms, documentation or other information provided by such party is (or becomes) inaccurate in any material respect; provided, however, that no party shall be required to provide any forms, documentation or other information pursuant to this paragraph to the extent that: (i) any such form, documentation or other information (or the information required to be provided on such form or documentation) is not reasonably available to such party and cannot be obtained by such party using reasonable efforts; or (ii) doing so would or might in the reasonable opinion of such party constitute a breach of any: (a) Applicable Law; (b) fiduciary duty; or (c) duty of confidentiality. 
b.Notice of Possible Withholding Under FATCA. The Issuer shall notify the Paying Agent in the event that it determines that any payment to be made by the Paying Agent under the Notes is a payment which could be subject to FATCA Withholding if such payment were made to a recipient that is generally unable to receive payments free from FATCA Withholding, and the extent to which the relevant payment is so treated, provided, however, that the Issuer’s obligation under this paragraph shall apply only to the extent that such payments are so treated by virtue of characteristics of the Issuer, the Notes, or both. 
c.Paying Agent’s Right to Withhold. Notwithstanding any other provision of this Indenture, the Paying Agent shall be entitled to make a deduction or withholding from any payment which it makes under the Notes for or on account of any Tax, if and only to the extent so required by Applicable Law. If such a deduction or withholding is required, neither the Paying Agent nor the Trustee will be obligated to pay any Additional Amount to the recipient unless such an Additional Amount is received by the Paying Agent or the Trustee in accordance with this Indenture.
d.For the purposes of this Section 4.25, defined terms used herein shall have the following meanings: 
1.“Applicable Law” means any law or regulation including, but not limited to: (i) any statute or regulation; (ii) any rule or practice of any Authority by which any party is 
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bound or with which it is accustomed to comply; (iii) any agreement between any Authorities; and (iv) any customary agreement between any Authority and any party;
2.“Authority” means any competent regulatory, prosecuting, Tax or governmental authority in any jurisdiction;
3.“Code” means the U.S. Internal Revenue Code of 1986, as amended;

4.“FATCA Withholding” means any withholding or deduction required pursuant to an agreement described in section 1471(b) of the Code, or otherwise imposed pursuant to sections 1471 through 1474 of the Code, any regulations or agreements thereunder, any official interpretations thereof, or any law implementing an intergovernmental approach thereto;
5.“Tax” means any present or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of any Authority having power to tax.

ARTIVLE 5
Successors

Section 5.01    Merger, consolidations and certain sales of assets of the Issuer

a.The Issuer may not, in a single transaction or a series of related transactions, (i) consolidate with or merge into any other Person, or (ii) directly or indirectly, convey, transfer, sell, lease or otherwise dispose of all or substantially all of the its assets to any other Person, unless:
1.either (i) the Issuer is the surviving corporation; or (ii) the Person formed by or surviving any such consolidation or merger (if other than the Issuer) or to which such sale, assignment, transfer, conveyance or other disposition has been made,
A.shall expressly assume, by a supplemental indenture executed and delivered to the Trustee in form reasonably satisfactory to the Trustee, all of the Issuer’s obligations under this Indenture and,
B.is organized under the laws of any member state of the European Union, the United Kingdom, Norway, Switzerland, Canada, Jersey, Guernsey, Mauritius, Cayman Islands, British Virgin Islands, any state of the United States of America or the District of Columbia;
2.immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;
3.with respect to a consolidation, merger, conveyance, transfer, sale, lease or other disposal of the Issuer, immediately after giving effect to such transaction and treating any Debt which becomes the Issuer’s or any of its Restricted Subsidiaries’ obligation, as applicable, or that of the Person formed by or surviving any such consolidation or merger (if other than the Issuer), as a result of such transaction as having been Incurred at the time of the transaction, (x) the Issuer (including any successor Person) could Incur at least $1.00 of additional Debt pursuant to Section 4.09(a) hereof or (y) the Net Leverage Ratio would not be 
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greater than such ratio immediately prior to giving effect to such transaction; provided, however, that this clause (3) will not apply if, in the good faith determination of the Issuer’s Board of Directors the principal purpose of such transaction is to change the Issuer’s jurisdiction of incorporation; and
4.the Issuer delivers to the Trustee an Officer’s Certificate stating that such consolidation, merger or transfer and such supplemental indenture comply with this Section 5.01.
Section 5.02    Successor Corporation Substituted
Upon any consolidation or merger in which the Issuer is not the continuing corporation or any transfer (excluding any lease) of all or substantially all of the assets of the Issuer, in accordance with Section 5.01 hereof, the successor Person shall succeed to, and be substituted for, and may exercise every right and power of the Issuer under this Indenture with the same effect as if such successor Person had been named as such; provided, however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of, premium on, if any and interest, if any, on the Notes except in the case of a sale of all of the Issuer’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof.
ARTICLE 6
Defaults and Remedies

Section 6.01    Events of Default

The following will be “Events of Default” under this Indenture:
1.failure to pay principal of, or premium, if any, on, any Note when due (at maturity, upon redemption or otherwise);
2.failure to pay any interest (including Additional Amounts) on any Note when due, which failure continues for 30 days;
3.default in the payment of principal and interest on Notes required to be purchased pursuant to an Offer to Purchase under Sections 4.15 and 4.10 hereof when due and payable;
4.failure to perform or comply with the provisions of Section 5.01 hereof;
5.failure of the Issuer to perform any other of the covenants or agreements under this Indenture or the Notes, which failure continues for 60 days after written notice to the Issuer by the Trustee or Holders of at least 25% in aggregate principal amount of Outstanding Notes;
6.default under the terms of any instrument evidencing or securing Debt for money borrowed by the Issuer or any of its Restricted Subsidiaries, if that default:
A.results in the acceleration of the payment of such Debt prior to its Stated Maturity; or
B.is caused by the failure to pay such Debt at its Stated Maturity after giving effect to the expiration of any applicable grace periods (and other than by 
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regularly scheduled required prepayment) and such failure to make any payment has not been waived or the Stated Maturity of such Debt has not been extended,
and, in each case, the outstanding principal amount of any such Debt under which there has been a failure to pay at Stated Maturity thereof or the payment of which has been so accelerated, aggregates $100 million or more;
7.failure by the Issuer or any of its Restricted Subsidiaries to pay final judgments entered by a court or courts of competent jurisdiction aggregating in excess of $100 million (exclusive of any amounts that a solvent insurance company has acknowledged liability for), which judgments shall not have been discharged or waived and there shall have been a period of 60 consecutive days during which a stay of enforcement of such judgment or order, by reason of an appeal, waiver or otherwise, shall not have been in effect;
8.the Issuer or any of its Significant Subsidiaries or group of Subsidiaries that, taken together, would constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law:
A.commences a voluntary case;
B.consents to the entry of an order for relief against it in an involuntary case;
C.consents to the appointment of a custodian or administrator of it or for all or substantially all of its property;
D.makes a general assignment for the benefit of its creditors;
E.admits in writing its inability to pay its debts generally as they become due; or
9.a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:
A.is for relief against the Issuer, or any Significant Subsidiary or group of Subsidiaries that, taken together, would constitute a Significant Subsidiary in an involuntary case;
B.appoints a custodian or administrator of the Issuer, or any Significant Subsidiary or group of Significant Subsidiaries that, taken together, would constitute a Significant Subsidiary or for all or substantially all of the property of the Issuer or any Significant Subsidiary or group of Significant Subsidiaries that, taken together, would constitute a Significant Subsidiary; or
C.orders the liquidation of the Issuer, or any Significant Subsidiary or group of Significant Subsidiaries that, taken together, would constitute a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 consecutive days.
Section 6.02    Acceleration

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If an Event of Default specified in clause (8) or (9) of Section 6.01 hereof shall occur, the maturity of all Outstanding Notes shall automatically be accelerated and the principal amount of the Notes, together with any premium, accrued interest or Additional Amounts thereon, shall be immediately due and payable. If any other Event of Default shall occur and be continuing, the Trustee or the Holders of not less than 25% of the aggregate principal amount of the Notes then Outstanding may, by written notice to the Issuer (and to the Trustee if given by Holders), declare the principal amount of the Notes, together with accrued interest thereon, immediately due and payable. The right of the Holders to give such acceleration notice shall terminate if the event giving rise to such right shall have been cured before such right is exercised. Any such declaration may be annulled and rescinded by written notice from the Trustee or the Holders of a majority of the aggregate principal amount of the Notes then Outstanding to the Issuer if all amounts then due with respect to the Notes are paid (other than amount due solely because of such declaration) and all other defaults with respect to the Notes are cured.
Section 6.03    Other Remedies
If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of (and premium or Additional Amounts, if any) or interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture.
The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law.
Section 6.04    Waiver of Past Defaults
Subject to certain rights of the Trustee, as provided in this Indenture, the Holders of a majority in aggregate principal amount of the Outstanding Notes, on behalf of all Holders of the Notes, may waive any past default under this Indenture, except a default in the payment of principal, premium or interest or a default arising from failure to purchase any Note tendered pursuant to an Offer to Purchase; provided that the Holders of a majority in aggregate principal amount of the then Outstanding Notes may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration. 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 6.05    Control by Majority
The Holders of a majority in aggregate principal amount of the Outstanding Notes will 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, provided that the Trustee may refuse to follow any direction that conflicts with law, this Indenture or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders not joining in the giving of such direction or that may involve the Trustee in personal liability. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default if it determines that withholding notice is in their interest, except in a Default or Event of Default relating to the payment of principal of (and premium or Additional Amounts, if any) or interest on the Notes, to the extent such action does not conflict with the provisions of this Indenture or applicable law.
Section 6.06    Limitation on Suits
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Subject to Section 7.01 hereof, in case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of its rights or powers under this Indenture at the request or direction of any Holders, unless such Holders have offered to the Trustee indemnity and/or security satisfactory to it. The Holders of a majority in aggregate principal amount of the Outstanding Notes will 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, to the extent such action does not conflict with the provisions of this Indenture or applicable law.
No Holder of any Note will have any right to institute any proceeding with respect to this Indenture or the Notes or for any remedy thereunder, unless:
1.such Holder has previously given to the Trustee written notice of a continuing Event of Default;
2.the Holders of at least 25% in aggregate principal amount of the Outstanding Notes shall have made a written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee;
3.such Holder or Holders have offered to the Trustee indemnity and/or security satisfactory to it against any loss, liability or expense arising in connection with such proceeding;
4.the Trustee for 60 days after receipt of such notice has failed to institute any such proceeding; and
5.no direction inconsistent with such request shall have been given to the Trustee during such 60 day-period by the Holders of a majority in principal amount of the Outstanding Notes. However, such limitations do not apply to a suit individually instituted by a Holder of a Note for enforcement of payment of the principal of, or interest on, such Note on or after respective due dates expressed in such Note.
A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. The Trustee shall have no obligation to ascertain whether the Holder’s actions are unduly prejudicial to other Holders.
Section 6.07    Right of Holders of Notes to Receive Payment
Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of (and premium or Additional Amounts, if any) or interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of Holders of not less than 90% in aggregate principal amount of the Notes; provided that a Holder shall not have the right to institute any such suit for the enforcement of payment if and to the extent that the institution or prosecution thereof or the entry of judgment therein would, under applicable law, result in the surrender, impairment, waiver or loss of the Lien of this Indenture upon any property subject to such Lien.
Section 6.08    Collection Suit by Trustee
Subject to mandatory provisions of Luxembourg insolvency laws, if an Event of Default specified in Section 6.01(1) or Section 6.01(2) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount of principal of, premium on, if any, interest and Additional Amounts, if any, remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, Additional 
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Amounts, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.
Section 6.09    Trustee May File Proofs of Claim
The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Issuer or any other obligor upon the Notes, their creditors or property and shall be entitled and empowered, subject to mandatory provisions of Luxembourg insolvency laws, to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.
Section 6.10    Priorities
If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order:
First:    to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection and then the Agents for any amounts due;
Second:    to Holders for amounts due and unpaid on the Notes for principal, premium, if any, interest and Additional Amounts, if any, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, interest and Additional Amounts, if any, respectively; and
Third:    to the Issuer or to such party as a court of competent jurisdiction shall direct.
The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10.
Section 6.11    Undertaking for Costs
In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made 
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by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then Outstanding Notes.
Section 6.12    Restoration of Rights and Remedies
If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined in a final judgment adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Issuer, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.
Section 6.13    Rights and Remedies Cumulative
Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.07 hereof, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.
Section 6.14    Delay or Omission Not Waiver
No delay or omission of the Trustee or any Holder 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 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.
ARTICLE 7
Trustee

Section 7.01    Duties of Trustee

a.If an Event of Default of which a Responsible Officer of the Trustee has actual knowledge has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.
b.Except during the continuance of an Event of Default of which a Responsible Officer of the Trustee has actual knowledge:
1.the duties of the Trustee and the Agents will be determined solely by the express provisions of this Indenture and the Trustee and the Agents need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee or the Agents; and
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2.in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).
c.The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:
1.this paragraph (c) does not limit the effect of paragraph (b) of this Section 7.01;
2.the Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and
3.the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Sections 6.02, 6.04 or 6.05 hereof.
d.Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section 7.01.
e.No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee will be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.
f.The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. Money held by the Paying Agent and in trust by the Trustee need not be segregated from other funds except to the extent required by law.
g.The Trustee shall not be deemed to have notice or any knowledge of any matter (including without limitation Defaults or Events of Default) unless a Responsible Officer assigned to and working in the Trustee’s corporate trust department has actual knowledge thereof or unless written notice thereof is received by the Trustee (attention: Trust & Securities Services) and such notice clearly references the Notes, the Issuer and this Indenture.
Section 7.02    Rights of Trustee
a.The Trustee may conclusively rely, and shall be protected in acting or refraining from acting, upon any document (whether in its original, electronic or facsimile form) believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document.
b.Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel, as the case may be. The Trustee may consult with counsel or other professional advisors and the written advice of such counsel, professional advisor or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.
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c.The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any attorney or agent appointed with due care.
d.The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture provided that the Trustee’s conduct does not constitute negligence or bad faith.
e.Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer will be sufficient if signed by an Officer of the Issuer.
f.The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity and/or security satisfactory to it against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction.
g.The Trustee shall have no duty to inquire as to the performance of the covenants of the Issuer and/or its Subsidiaries. In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except: (i) any Event of Default occurring pursuant to Section 6.01(1) or Section 6.01(2) (provided it is acting as Paying Agent); and (ii) any Default or Event of Default of which a Responsible Officer shall have received written notification. Delivery of reports, information and documents to the Trustee under Section 4.03 hereof is for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute actual or constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates).
h.The Trustee shall not have any obligation or duty to monitor, determine or inquire as to compliance, and shall not be responsible or liable for compliance with restrictions on transfer, exchange, redemption, purchase or repurchase, as applicable, of minimum denominations imposed under this Indenture or under applicable law or regulation with respect to any transfer, exchange, redemption, purchase or repurchase, as applicable, of any interest in any Notes, but may at its sole discretion choose to do so.
i.The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified and/or secured under this Indenture, are extended to, and shall be enforceable by the Trustee in each of its capacities hereunder and by each agent (including the Agents), custodian and other person employed to act hereunder. Absent willful misconduct or negligence, each Agent shall not be liable for acting in good faith on instructions believed by it to be genuine and from the proper party and no Agent shall be under any fiduciary duty or other obligation towards or have any relationship of agency and trust for or with any person other than the Issuer.
j.In the event the Trustee or any Agent receives conflicting, unclear or equivocal instructions, the Trustee or Agent shall be entitled to not take any action until such instructions have been resolved or clarified to its satisfaction and the Trustee or Agent shall not become liable in any way to any person for any failure to comply with any such conflicting, unclear or equivocal instruction.
k.In the event the Trustee receives inconsistent or conflicting requests and indemnity from two or more groups of Holders, each representing less than a majority in aggregate principal amount of the Notes then Outstanding, pursuant to the provisions of this Indenture, the Trustee, in its sole discretion, may determine what action, if any, will be taken and shall not incur any liability for its failure to act until such inconsistency or conflict is, in its reasonable opinion, resolved.
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l.In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by acts of war or terrorism involving the United States, the United Kingdom or any member state of the European Monetary Union or any other national or international calamity or emergency (including natural disasters or acts of God), it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.
m.The Trustee is not required to give any bond or surety with respect to the performance or its duties or the exercise of its powers under this Indenture or the Notes.
n.The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation or duty to do so.
o.The Trustee will not be liable to any person if prevented or delayed in performing any of its obligations or discretionary functions under this Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority or by any circumstances beyond its control.
p.The Trustee shall not under any circumstances be liable for any indirect loss, punitive or special damages or consequential loss (being loss of business, goodwill, opportunity or profit of any kind) of the Issuer or any other Person (or, in each case, any successor thereto), even if advised of it in advance and even if foreseeable.
q.The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer personally or by agent or attorney.
r.The Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of the individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded.
s.No provision of this Indenture shall require the Trustee to do anything which, in its opinion, may be illegal or contrary to applicable law or regulation.
t.The Trustee may refrain from taking any action in any jurisdiction if the taking of such action in that jurisdiction would, in its opinion (based upon legal advice in the relevant jurisdiction), be contrary to any law of that jurisdiction or, to the extent applicable, the State of New York.
u.The Trustee may retain professional advisors to assist it in performing its duties under this Indenture. The Trustee may consult with such professional advisors or with counsel, and the advice or opinion of such professional advisors or counsel with respect to legal or other matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.
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v.The Trustee may assume without inquiry in the absence of actual knowledge that the Issuer is duly complying with its obligations contained in this Indenture required to be performed and observed by it, and that no Default or Event of Default or other event which would require repayment of the Notes has occurred.
Section 7.03    Individual Rights of Trustee
The Trustee (or its Affiliates) in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer or any Affiliate of the Issuer with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.
Section 7.04    Trustee’s Disclaimer
The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Notes and perform its obligations hereunder. The Trustee shall not be accountable for the Issuer’s use of the proceeds from the Notes or any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, it will not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.
Section 7.05    Notice of Defaults
If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee will mail to Holders a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default in payment of principal of, premium on, if any, interest or Additional Amounts, if any, on any Note, the Trustee may withhold notice if and for so long as it determines that withholding notice is in the interest of Holders.
Section 7.06    [Reserved]
Section 7.07    Compensation and Indemnity
a.The Issuer will pay to the Trustee and the Agents from time to time compensation for its acceptance of this Indenture and services hereunder as shall be agreed from time to time between them. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Issuer will reimburse the Trustee promptly upon request for all disbursements, advances and expenses properly incurred or made by it in addition to the compensation for its services. Such expenses will include the properly incurred compensation, disbursements and expenses of the Trustee’s agents and counsel.
b.The Issuer will indemnify the Trustee, its officers, directors, employees and agents against any and all documented claims, losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Issuer (including this Section 7.07) and defending itself against any claim (whether asserted by the Issuer, any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence, willful misconduct or bad faith. Notwithstanding the foregoing, the Issuer shall not be liable for any indirect loss, punitive or special damages or consequential loss (being loss of business, goodwill, opportunity or profit of 
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any kind) of the Trustee or any other Person (or, in each case, any successor thereto), even if advised of it in advance and even if foreseeable. The Trustee will notify the Issuer promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer will not relieve the Issuer of its obligations hereunder. In case any such claim shall be brought against the Trustee, the Trustee may elect to defend the claim and shall promptly notify the Issuer of its intent to do so, provided that the Trustee and its counsel shall proceed with diligence and good faith with respect thereto, and the Issuer shall be entitled to participate therein. In the event of any disagreement between the Trustee and the Issuer in relation to the conduct of the claim, other than disagreements concerning the Trustee’s failure to promptly assume the defense and employ counsel, the Trustee’s decision shall be final. The Trustee may have separate counsel and the Issuer shall pay the properly incurred fees and expenses of such counsel. If the Trustee does not assume the defense of such claim, the Issuer may defend the claim, the Trustee shall cooperate in such defense and the Issuer shall not be liable to the Trustee for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by the Trustee, in connection with the defense thereof unless the immediately following sentence applies. If the interests of the Issuer, on the one hand, and the Trustee, on the other hand, may be adverse, the Trustee may have a single separate counsel and the Issuer will pay the properly incurred fees and expenses of such counsel. The Issuer need not pay for any settlement made without its written consent, which consent will not be unreasonably withheld.
c.The obligations of the Issuer under this Section 7.07 will survive the satisfaction and discharge of this Indenture.
d.To secure the Issuer’s payment obligations in this Section 7.07, the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal of, premium on, if any, interest or Additional Amounts, if any, on, particular Notes. Such Lien will survive the satisfaction and discharge of this Indenture.
e.When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(9) hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law.
f.The rights, privileges, protections, immunities and benefits to the Trustee in this Article 7, including, without limitation, its rights to be compensated, reimbursed for expenses and indemnified, are extended to, and shall be enforceable by, each Agent.
g.The indemnity contained in this Section 7.07 shall survive the discharge or termination of this Indenture and shall continue for the benefit of the Trustee or an Agent notwithstanding its resignation or retirement.
Section 7.08    Replacement of Trustee
a.A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08.
b.The Trustee may resign in writing at any time without giving reason and be discharged from the trust hereby created by so notifying the Issuer. The Holders of a majority in aggregate principal amount of the then Outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuer in writing. The Issuer may remove the Trustee if:
1.the Trustee fails to comply with Section 7.10 hereof;
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2.the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
3.a custodian or public officer takes charge of the Trustee or its property; or
4.the Trustee becomes incapable of acting.
c.If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuer will promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then Outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuer.
d.If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, (i) the retiring Trustee, the Issuer, or the Holders of at least 10% in aggregate principal amount of the then Outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee or (ii) the retiring Trustee may appoint a successor Trustee at any time prior to the date on which a successor Trustee takes office, provided that such appointment shall be with the consent of the Issuer (not to be unreasonably withheld or delayed).
e.If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.
f.A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon, the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders. The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuer’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee.
g.For the purposes of this Section 7.08, the Issuer hereby expressly accepts and confirms, for the purposes of Articles 1278 and 1281 of the Luxembourg Civil Code that, notwithstanding any assignment, transfer and/or novation permitted under, and made in accordance with the provisions of this Indenture or any agreement referred to herein to which the Issuer is a party, any security created or guarantee given under this Indenture shall be preserved for the benefit of the successor trustee (for itself and the secured parties) and, for the avoidance of doubt, for the benefit of each of the secured parties.
Section 7.09    Successor Trustee by Merger, etc.
If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act will be the successor Trustee.
Section 7.10    Eligibility; Disqualification
There will at all times be a Trustee hereunder that is a corporation organized and doing business under the laws of England and Wales or the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by any England and Wales authority or any federal or state authorities and that has a combined capital and surplus of at least $50.0 million as set forth in its most recent published annual report of condition.
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Section 7.11    Agents
Resignation of Agents. Any Agent may resign and be discharged from its duties under this Indenture at any time by giving thirty (30) days’ prior written notice of such resignation to the Trustee and Issuer. The Trustee or Issuer may remove any Agent at any time by giving thirty (30) days’ prior written notice to any Agent. Upon such notice, a successor Agent shall be appointed by the Issuer, who shall provide written notice of such to the Trustee. Such successor Agent shall become the Agent hereunder upon the resignation or removal date specified in such notice. If the Issuer is unable to replace the resigning Agent within thirty (30) days after such notice, the Agent may, in its sole discretion, deliver any funds then held hereunder in its possession to the Trustee or may appoint a replacement agent on behalf of the Issuer, provided that such appointment shall be with the consent of the Issuer (not to be unreasonably withheld or delayed), or may apply to a court of competent jurisdiction for the appointment of a successor Agent or for other appropriate relief. The costs and expenses (including its counsels’ fees and expenses) incurred by the Agent in connection with such proceeding shall be paid by the Issuer. Upon receipt of the identity of the successor Agent, the Agent shall deliver any funds then held hereunder to the successor Agent, less the Agent’s fees, costs and expenses or other obligations owed to the Agent. Upon its resignation and delivery any funds, the Agent shall be discharged of and from any and all further obligations arising in connection with this Indenture, but shall continue to enjoy the benefit of Section 7.07 hereof.
ARTICLE 8
Legal Defeasance and Covenant Defeasance

Section 8.01    Option to Effect Legal Defeasance or Covenant Defeasance
The Issuer may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officer’s Certificate, elect to have either Section 8.02 or 8.03 hereof be applied to all Outstanding Notes upon compliance with the conditions set forth below in this Article 8.
Section 8.02    Legal Defeasance and Discharge
Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Issuer will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their obligations with respect to all Outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer will be deemed to have paid and discharged the entire Debt represented by the Outstanding Notes, which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all their other obligations under such Notes and this Indenture (and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder:
1.the rights of Holders of Outstanding Notes to receive payments in respect of the principal of, interest (including Additional Amounts) or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof;
2.the Issuer’s obligations with respect to the Notes under Article 2 and Section 4.02 hereof;
3.the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s obligations in connection therewith; and
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4.the Legal Defeasance provisions of this Article 8.
Subject to compliance with this Article 8, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.
Section 8.03    Covenant Defeasance
Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Issuer will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of its obligations under the covenants contained in Sections 4.09, 4.10, 4.12, 4.13, 4.15 hereof and clause (4) of Section 5.01(a) hereof with respect to the Outstanding Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “Outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “Outstanding” for all other purposes hereunder (it being understood that such Notes will not be deemed Outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuer may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes will be unaffected thereby. In addition, upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Section 6.01(3), (4), (5), (6), (7) and (8) hereof will not constitute Events of Default.
Section 8.04    Conditions to Legal or Covenant Defeasance
In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof:
1.the Issuer must irrevocably deposit with the Trustee (or such other entity designated or appointed (as agent) by it for such purpose), in trust, for the benefit of the Holders of the Notes, cash in U.S. Dollars, non-callable Government Securities, or a combination of cash in U.S. Dollars and non-callable Government Securities, in each case, in amounts as will be sufficient, in the opinion of an internationally recognized investment bank, appraisal firm or firm of independent public accountants, to pay the principal of, or interest (including Additional Amounts and premium, if any) on the Outstanding Notes on their Stated Maturity or on the applicable redemption date, as the case may be, and the Issuer must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date;
2.in the case of an election under Section 8.02 hereof, the Issuer must deliver to the Trustee an opinion of U.S. counsel in terms reasonably acceptable to the Trustee confirming that:
A.the Issuer has received from, or there has been published by, the U.S. Internal Revenue Service a ruling; or
B.since the Issue Date, there has been a change in the applicable U.S. federal income tax law,
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in either case to the effect that, and based thereon such Opinion of Counsel will confirm that, the beneficial owners of the Outstanding Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;
3.in the case of an election under Section 8.03 hereof, the Issuer must deliver to the Trustee an opinion of U.S. counsel in terms reasonably acceptable to the Trustee confirming that the beneficial owners of the Outstanding Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;
4.the Issuer must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Issuer with the intent of preferring the Holders of Notes over the other creditors of the Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or others; and
5.the Issuer must deliver to the Trustee an Officer’s Certificate and an opinion of counsel, subject to customary assumptions and qualifications, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.
Section 8.05    Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
Subject to Section 8.06 hereof, all cash in U.S. Dollars and non-callable U.S. Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the Outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, interest and Additional Amounts, if any, but such money need not be segregated from other funds except to the extent required by law.
The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or the non-callable U.S. Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Notes.
Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Issuer from time to time upon the request of the Issuer any cash in U.S. Dollars or non-callable U.S. Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.
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Section 8.06    Repayment to Issuer
Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer in trust, for the payment of the principal of, premium on, if any, interest or Additional Amounts, if any, on, any Note and remaining unclaimed for two years after such principal, premium, if any, interest or Additional Amounts, if any, has become due and payable shall be paid to the Issuer on its request or (if then held by the Issuer) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such money, and all liability of the Issuer as trustee thereof, will thereupon cease; provided, however, that in the event the Notes are in the form of Definitive Registered Notes, the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer cause to be made available to the newswire service of Bloomberg or, if Bloomberg does not operate, any similar agency and, if and so long as the Notes are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market and the rules of the Luxembourg Stock Exchange so require, to the extent and in the manner permitted by such rules, posted on the official website of the Luxembourg Stock Exchange (www.bourse.lu) or mail to each Holder entitled to such money at such Holder’s address (as set forth in the Register) notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Issuer.
Section 8.07    Reinstatement
If the Trustee or Paying Agent is unable to apply any U.S. Dollars or non-callable U.S. Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s obligations under this Indenture and the Notes will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Issuer makes any payment of principal of (and premium or Additional Amounts, if any) or interest on any Note following the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent.
ARTICLE 9
Amendment, Supplement and Waiver

Section 9.01    Without Consent of Holders

Notwithstanding Section 9.02 hereof, the Issuer, the Issuer and the Trustee may, without the consent of the Holders of the Notes, amend, waive or supplement this Indenture or the Notes:
1.to cure any ambiguity, defect or inconsistency;
2.to provide for the assumption of the Issuer’s obligations to the Holders of the Notes in the case of a merger or consolidation or sale of all or substantially all of the Issuer’s assets pursuant to Article 5 hereof;
3.to make any change that would provide any additional rights or benefits to the Holders or that does not adversely affect the legal rights under this Indenture of any such Holder in any material respect;
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4.to conform the text of this Indenture, or the Notes to any provision of the “Description of the Notes” section of the offering memorandum to the extent that such provision in such “Description of the Notes” section was intended to be a verbatim recitation of a provision of this Indenture or the Notes;
5.to provide for the issuance of Additional Notes in accordance with the limitations set forth in this Indenture as of the Issue Date;
6.to provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes are issued in registered form for purposes of Section 169(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code); 
7.to evidence and provide the acceptance of the appointment of a successor Trustee under this Indenture; 
8.to allow the provision of Guarantees with respect to the Notes; or
9.to make any change that would provide any additional rights or benefits to Holders or that does not adversely affect the legal rights under the Indenture of any such Holder in any material respect.
In formulating its opinion on such matters, the Trustee shall be entitled to request and rely absolutely on such evidence as it deems appropriate, including an Opinion of Counsel and an Officer’s Certificate.
Upon the request of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 and Section 14.03 hereof, the Trustee will join with the Issuer in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise.
Section 9.02    With Consent of Holders
Except as provided below in this Section 9.02, the Issuer and the Trustee may amend or supplement this Indenture (including, without limitation Section 3.12, Section 4.10 and Section 4.15 hereof)or the Notes with the consent of the Holders of at least a majority in aggregate principal amount of the then Outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes), and, subject to Section 6.04 and Section 6.07 hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium on, if any, interest or Additional Amounts, if any, on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes may be waived with the consent of the Holders of a majority in aggregate principal amount of the then Outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes); provided that if any amendment, waiver or other modification will only affect one series of the Notes, only the consent of the Holders of a majority in aggregate principal amount of the then Outstanding Notes of such series shall be required.
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Upon the request of the Issuer accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Issuer in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.
It is not necessary for the consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof.
After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Issuer will mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuer to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. The Holders of a majority in aggregate principal amount of the Outstanding Notes, on behalf of all Holders of Notes, may waive compliance by the Issuer with certain restrictive provisions of this Indenture. Subject to Sections 6.04 and 6.07 hereof the Holders of a majority in aggregate principal amount of the Outstanding Notes, on behalf of all Holders of the Notes, may waive any past default under this Indenture, except a default in the payment of principal, premium or interest or a default arising from failure to purchase any Note tendered pursuant to an Offer to Purchase. Modifications and amendments of this Indenture may be made by the Issuer, the Issuer and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes; provided, however, that no such modification or amendment may, without the consent of the Holders of 90% of the aggregate principal amount of then Outstanding Notes affected thereby:
1.change the Stated Maturity or the principal of, or any installment of interest on, any Note;
2.reduce the principal amount of, (or premium) or interest on (or rate thereof), any Note;
3.change the place or currency of payment of principal of (or premium), or interest on, any Note;
4.impair the right to institute suit for the enforcement of any payment on or with respect to any Note;
5.reduce the above stated percentage of Outstanding Notes necessary to modify or amend this Indenture;
6.reduce the percentage of aggregate principal amount of Outstanding Notes necessary for waiver of compliance with certain provisions of this Indenture or for waiver of certain defaults; or
7.following the mailing of any Offer to Purchase, modify any Offer to Purchase for the Notes required under Sections 4.10 and 4.15 hereof in a manner adverse to the Holders thereof.
For the avoidance of doubt, the provisions of articles 470-1 to 470-19 (included) of the Luxembourg Law dated August 10, 1915 on commercial companies, as amended from time to time, shall not apply in respect of the Notes.
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Section 9.03    Revocation and Effect of Consents
Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder of a Note and every subsequent Holder that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder.
Section 9.04    Notation on or Exchange of Notes
The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate or cause the Authenticating Agent to authenticate the new Notes that reflect the amendment, supplement or waiver.
Failure to make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.
Section 9.05    Trustee to Sign Amendments, etc.
The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuer may not sign an amended or supplemental indenture until the Board of Directors of the Issuer approves it. In executing any amended or supplemental indenture, the Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture.
ARTICLE 10
[Reserved]

ARTICLE 11
[Reserved]

ARTICLE 12
[Reserved]

ARTICLE 13
Satisfaction and Discharge
Section 13.01    Satisfaction and Discharge
a.This Indenture will be discharged and will cease to be of further effect as to all Notes issued thereunder, when:
1.either:
A.all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money 
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has been deposited in trust and thereafter repaid to the Issuer, have been delivered to the Trustee for cancellation; or
B.all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable within one year and the Issuer has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. Dollars, non-callable Government Securities, or a combination of cash in U.S. Dollars and non-callable Government Securities, in each case, in amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Debt on the Notes not delivered to the Trustee for cancellation for principal, premium and Additional Amounts, if any, and accrued interest to the date of maturity or redemption;
2.the Issuer has paid or caused to be paid all sums payable by it under this Indenture; and
3.the Issuer has delivered irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be.
In addition, the Issuer must deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied; provided that any such counsel may rely on any Officer’s Certificate as to matters of fact (including as to compliance with the foregoing clauses (1), (2) and (3) of this Section 13.01(a)).
b.Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to Section 13.01(a)(1)(B), the provisions of Sections Section 13.02 and 8.06 hereof will survive. In addition, nothing in this Section 13.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture.
Section 13.02    Application of Trust Money
Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 13.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal of, premium on, if any, interest and Additional Amounts, if any, for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent required by law.
If the Trustee or Paying Agent is unable to apply any money or U.S. Government Securities in accordance with Section 13.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 13.01 hereof; provided that if the Issuer has made any payment of principal of, premium on, if any, interest and Additional Amounts, if any, on, the Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Securities held by the Trustee or Paying Agent.
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ARTICLE 14
Miscellaneous

Section 14.01    Notices
Any notice or communication by the Issuer or the Trustee to the others is duly given if in writing and delivered in person or mailed by first class mail (registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’ address:
If to the Issuer:
Millicom International Cellular S.A.
2, rue du Fort Bourbon
L-1249, Luxembourg Grand Duchy of Luxembourg
Facsimile No.: +352 27 759 901
Attention: Office of the General Counsel
With a copy to:
Davis Polk & Wardwell LLP
450 Lexington Avenue, New York
NY 10017, United States of America 
Facsimile No.: +1-212-701-5077 
Attention: John B. Meade

If to the Trustee:

Citibank, N.A., London Branch
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
Attn: Trustee-Agency & Trust
Facsimile: +44 203 060 4796
If to Registrar:
Citigroup Global Markets Europe AG
5th Floor, Reuterweg 16
60323 Frankfurt
Germany
Attn: Citi-Registrar-Agency & Trust
Facsimile: +49 69 2222 9586
If to Paying Agent or Transfer Agent:
Citibank, N.A., London Branch
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
Attn: Paying Agent-Agency & Trust
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Facsimile: +353 1 622 2210/ +353 1 622 2212
Attn: Transfer Agent-Agency & Trust
Facsimile: +353 1 247 6348
The Issuer or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or communications.
All notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if personally delivered; upon receipt if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.
For so long as the Notes are listed on the Official List of Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market, and the rules of the Luxembourg Stock Exchange so require, notices of the Issuer will be published on the official website of the Luxembourg Stock Exchange (www.bourse.lu). In addition, for so long as any Notes are represented by one or more Global Notes, all notices to Holders will be delivered by or on behalf of the Issuer to DTC. 
Notices delivered to DTC will be deemed given on the date when delivered. If a notice or communication is published in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it.
If the Issuer mails a notice or communication to Holders or delivers a notice or communication to holders of Book-Entry Interests, it will mail a copy to the Trustee and each Agent at the same time.
Section 14.02    [Reserved]
Section 14.03    Certificate and Opinion as to Conditions Precedent
Upon any request or application by the Issuer to the Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee:
1.an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which must include the statements set forth in Section 14.04 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and
2.an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must include the statements set forth in Section 14.04 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied.
Section 14.04    Statements Required in Certificate or Opinion
Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:
1.a statement that the Person making such certificate or opinion has read such covenant or condition;
2.a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;
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3.a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and
4.a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.
Section 14.05    Rules by Trustee and Agents
The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions.
Section 14.06    Agent for Service; Submission to Jurisdiction; Waiver of Immunities
Each of the parties hereto irrevocably agrees that any suit, action or proceeding arising out of, related to, or in connection with this Indenture, the Notes or the transactions contemplated hereby, and any action arising under U.S. federal or state securities laws, may be instituted in any U.S. federal or state court located in the State and City of New York, Borough of Manhattan; irrevocably waives, to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding; and irrevocably submits to the jurisdiction of such courts in any such suit, action or proceeding. The Issuer has appointed CT Corporation System, 111 Eighth Avenue, 13th Floor, New York, New York 10011, United States of America, as its authorized agent upon whom process may be served in any such suit, action or proceeding which may be instituted in any federal or state court located in the State of New York, Borough of Manhattan arising out of or based upon this Indenture, the Notes or the transactions contemplated hereby or thereby, and any action brought under U.S. federal or state securities laws (the “Authorized Agent”). The Issuer expressly consents to the jurisdiction of any such court in respect of any such action and waives any other requirements of or objections to personal jurisdiction with respect thereto and waives any right to trial by jury. Such appointment shall be irrevocable unless and until replaced by an agent reasonably acceptable to the Trustee. The Issuer represents and warrants that the Authorized Agent has agreed to act as said agent for service of process, and the Issuer 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. Service of process upon the Authorized Agent and written notice of such service to the Issuer shall be deemed, in every respect, effective service of process upon the Issuer.
Section 14.07    No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders
None of the directors, officers, employees, incorporators, members or stockholders, as such, of the Issuer, as such, will have any liability for any of the Issuer’s obligations under the Notes or this Indenture, or for any claim based on, in respect of, or by reason of, such obligations. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. This waiver may not be effective to waive liabilities under applicable securities laws.
Section 14.08    Governing Law
THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE 
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APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
For the avoidance of doubt, the provisions of articles 470-1 to 470-19 (included) of the Luxembourg Law dated August 10, 1915 on commercial companies, as amended from time to time, are excluded. 
Section 14.09    No Adverse Interpretation of Other Agreements
This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Issuer or any of its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.
Section 14.10    Successors
All agreements of the Issuer in this Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its successors.
Section 14.11Severability
In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby.
Section 14.12Counterpart Originals
The parties may sign manually, electronically or digitally any number of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same agreement. Delivery of an executed counterpart of a signature page to this Indenture or any Global Note by telecopier, facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other electronic transmission (i.e., a “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart thereof.
The words “execution,” “execute”, “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Indenture, the Global Notes and the transactions contemplated hereby (including without limitation assignment and assumptions, amendments, waivers and consents) shall be deemed to include electronic signatures, the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

Section 14.13    Table of Contents, Headings, etc.
The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof.
Section 14.14    Judgment Currency
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.
Any payment on account of an amount that is payable in U.S. Dollars (the “Required Currency”) which is made to or for the account of any Holder or the Trustee in lawful currency of any other jurisdiction (the “Judgment Currency”), whether as a result of any judgment or order or the enforcement thereof or the liquidation of the Issuer, shall constitute a discharge of the Issuer’s obligations under this Indenture and the Notes, only to the extent of the amount of the Required Currency with such Holder or the Trustee, as the case may be, could purchase in the London foreign exchange markets with the amount of the Judgment Currency in accordance with normal banking procedures at the rate of exchange prevailing on the first Business Day following receipt of the payment in the Judgment Currency. If the amount of the Required Currency that could be so purchased is less than the amount of the Required Currency originally due to such Holder or the Trustee, as the case may be, the Issuer shall indemnify and hold harmless the Holder or the Trustee, as the case may be, from and against all loss or damage arising out of, or as a result of, such deficiency. This indemnity shall constitute an obligation separate and independent from the other obligations contained in this Indenture or the Notes, shall give rise to a separate and independent cause of action, shall apply irrespective of any indulgence granted by any Holder or the Trustee from time to time and shall continue in full force and effect notwithstanding any judgment or order for a liquidated sum in respect of an amount due hereunder or under any judgment or order.
Section 14.15    Prescription
Claims against the Issuer for the payment of principal or Additional Amounts, if any, on the Notes will be prescribed ten years after the applicable due date for payment thereof. Claims against the Issuer for the payment of interest on the Notes will be prescribed five years after the applicable due date for payment of interest.
Section 14.16    Contractual Recognition of Bail-In Powers
a.The Issuer acknowledges and accepts that, notwithstanding any other provision of this Indenture or any other agreement, arrangement or understanding between the parties:
1.any Liability may be subject to the exercise of Write-down and Conversion Powers by the Resolution Authority;
2.The Issuer will be bound by the effect of any application of any Write-down and Conversion Powers in relation to any Liability and in particular (but without limitation) by:
A.any reduction in the principal amount, in full or in part, or outstanding amount due (including any accrued but unpaid interest) due in respect of any Liability; and
B.any conversion of all or part of any Liability into ordinary shares or other instruments of ownership of Citigroup Global Markets Europe AG or any other person; that may result from any exercise of any Write-down and Conversion Powers in relation to any Liability;
3.the terms of this Indenture and the rights of the Issuer hereunder may be varied, to the extent necessary, to give effect to any exercise of any Write-down and Conversion Powers in relation to any Liability and the Issuer will be bound by any such variation; and
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4.ordinary shares or other instruments of ownership of Citigroup Global Markets Europe AG or any other person may be issued to or conferred on the Issuer as a result of any exercise of any Write-down and Conversion Powers in relation to any Liability.
b.Defined terms used in this Section 14.16 have the following meanings:
1.“Liability” means any liability of Citigroup Global Markets Europe AG to the Issuer arising under or in connection with this Indenture;
2.“Resolution Authority” means the German Federal Agency for Financial Markets Stabilization (Bundesanstalt fur Finanzmarktstabilisierung), or any other body which has authority to exercise any Write-down and Conversion Powers;
3.“Write-down and Conversion Powers” means any write-down, conversion, transfer, modification or suspension power existing from time to time under, and exercised in compliance with, any laws, regulations, rules or requirements in effect in Germany, relating to the transposition of Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms as amended from time to time, including but not limited to the German Recovery and Resolution Act (Sanierungs- und Abwicklungsgesetz) as amended from time to time, and the instruments, rules and standards created thereunder, pursuant to which:
A.any obligation of Citigroup Global Markets Europe AG (or other affiliate of such entity) can be reduced, cancelled, modified or converted into shares, other securities or other obligations of such entity or any other person (or suspended for a temporary period); and
B.any right in a contract governing an obligation Citigroup Global Markets Europe AG may be deemed to have been exercised.
[Signatures on following page]

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IN WITNESS HEREOF, the parties have caused this Indenture to be duly executed as of the date first written above.
MILLICOM INTERNATIONAL CELLULAR S.A., as the Issuer

By:    /s/ Patrick Gill
Name:    Patrick Gill
Title:    Company Secretary

By:    /s/ Bruno Nieuwland
Name:    Bruno Nieuwland
Title:    Chief Administrative Officer & Head of International Finance Project

[Signature Page to Indenture]

CITIBANK, N.A., LONDON BRANCH, as Trustee, Paying Agent and Transfer Agent

By:    /s/ Viola Japaul
Name:    Viola Japaul
Title:    Director

CITIGROUP GLOBAL MARKETS EUROPE AG, as Registrar

By:    /s/ Gabriele Fisch
Name:    Gabriele Fisch
Title:    

By:    /s/ Lothar Schafer
Name:    Lothar Schafer
Title:    

[Signature Page to Indenture]

Exhibit A.
			
	[Face of Note]

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]
[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]
MILLICOM INTERNATIONAL CELLULAR S.A.
4.500% Senior Notes due 2031
No. _____    CUSIP: 
ISIN: 
COMMON CODE:
$ __________
Issue Date: __________
MILLICOM INTERNATIONAL CELLULAR S.A., a société anonyme organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg, Luxembourg and registered with the Luxembourg Trade and Companies Register under the number B 40630, promises to pay to    ______________________ or registered assigns, the principal sum of _____________________________ DOLLARS or such greater or lesser amount as indicated in the schedule of Exchanges of Interests in the Global Note on April 27, 2031.
Interest Payment Dates: April 27 and October 27
Record Dates: Holders of record on each Note in respect of the principal amount thereof outstanding on the Business Day immediately preceding the related Interest Payment Date.
Dated: __________

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IN WITNESS WHEREOF, the parties hereto have caused this Note to be signed manually, electronically, digitally or by facsimile by the duly authorized officers referred to below.
MILLICOM INTERNATIONAL
CELLULAR S.A.
By:     
Name:
Title:
By:     
Name:
Title:

This is one of the Notes referred to in the within-mentioned Indenture:
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CITIBANK, N.A., LONDON BRANCH
By:     
Authorized Signatory:

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[Back of Note]
    
4.500% Senior Notes due 2031
Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.
a.INTEREST. MILLICOM INTERNATIONAL CELLULAR S.A., a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and Companies under the number B 40630 (the “Issuer”), promises to pay or cause to be paid interest on the principal amount of this Note at 4.500% per annum from _______________________ until maturity. The Issuer will pay interest semi-annually in arrears on April 27 and October 27 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be          . The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate then in effect to the extent lawful. The Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Amounts (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. Each interest period shall end (but not include) the relevant Interest Payment Date. 
b.METHOD OF PAYMENT. The Issuer will pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders of Notes on the Business Day immediately preceding the related Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, interest and Additional Amounts, if any, through the Paying Agents as provided in the Indenture or, at the option of the Issuer, payment of interest and Additional Amounts, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium, if any, and Additional Amounts, if any, on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Issuer or the Paying Agent. In addition, interest on the Definitive Registered Notes may be paid by check mailed to the person entitled thereto as shown on the Register for the Definitive Registered Notes. The Issuer will make all payments in immediately available same-day freely transferable funds and in U.S. Dollars. 
c.PAYING AGENT, REGISTRAR AND TRANSFER AGENT. Initially, Citibank, N.A., London Branch will act as Paying Agent and Transfer Agent. Citigroup Global Markets Europe AG will act as Registrar. The Issuer shall maintain a Paying Agent and Transfer Agent. Upon notice to the Trustee, the Issuer may change any Paying Agent, Registrar or Transfer Agent.
d.INDENTURE. The Issuer issued the Notes under an Indenture dated as of October 27, 2020 (the “Indenture”) between the Issuer, Citibank, N.A., London Branch, as Trustee, Transfer Agent and Paying Agent, and Citigroup Global Markets Europe AG, as Registrar. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any 
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provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling.
e.OPTIONAL REDEMPTION.
i.Except as detailed below, the Notes are not redeemable at the Issuer’s option. The Issuer is not, however, prohibited from acquiring the Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase or otherwise, so long as the acquisition does not otherwise violate the terms of the Indenture. The Issuer may make any redemption or redemption notice subject to the satisfaction of conditions precedent. If such redemption or notice is subject to satisfaction of one or more conditions precedent, such notice shall state that, in the Issuer’s discretion, the redemption date may be delayed until such time (but no more than 60 days after the date of the notice of redemption) as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or waived by the redemption date, or by the redemption date as so delayed, or such notice may be rescinded at any time in the Issuer’s discretion if in the good faith judgement of the Issuer any or all of such conditions will not be satisfied or waived. In addition, the Issuer may provide in such notice that payment of the redemption price and performance of the Issuer’s obligations with respect to such redemption may be performed by another Person.
ii.If a redemption date is not a Business Day, payment may be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such redemption date if it were a Business Day for the intervening period. If the optional redemption date is on or after an interest record date and on or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Note is registered at the close of business on such record date and no additional interest will be payable to Holders whose Notes will be subject to redemption.
iii.At any time prior to April 27, 2026, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional Notes) at a redemption price of 104.500% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), with the proceeds from one or more Equity Offerings or any sale of Qualified Capital Stock of any Restricted Subsidiary of the Issuer. The Issuer may only do this, however, if:
1.at least 50% of the aggregate principal amount of Notes that were initially issued under the Indenture would remain outstanding immediately after the proposed redemption; and
2.the redemption occurs within 180 days after the closing of such Equity Offering or sale of Qualified Capital Stock.
    Any notice for such a redemption may be given prior to completing the Equity Offering or sale of Qualified Capital Stock and be conditioned upon its completion.
1.At any time prior to April 27, 2026, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may on any one or more occasions redeem up to 40% of the original aggregate principal amount of Notes (including Additional Notes) at a redemption price of 104.500% of their principal amount, plus accrued and unpaid interest, if any, to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on 
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the relevant interest payment date), with the Net Available Proceeds from one or more Specified Subsidiary Sales. The Issuer may only do this, however, if:
3.at least 50% of the aggregate principal amount of Notes that were initially issued would remain outstanding immediately after the proposed redemption; and
4.the redemption occurs within 365 days from the later of the date of such Specified Subsidiary Sale or the receipt of such Net Available Proceeds.
2.During each 12 month period commencing on the Issue Date and ending on April 27, 2026, upon not less than 10 nor more than 60 days’ prior notice to the Trustee and the Holders, the Issuer may redeem up to 10% of the original aggregate principal amount of the Notes (including Additional Notes) at a redemption price equal to 103% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and Additional Amounts, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date).
3.At any time prior to April 27, 2026, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may also redeem all or part of the Notes (including Additional Notes) at a redemption price equal to 100% of the principal amount thereof plus the Applicable Redemption Premium and accrued and unpaid interest and Additional Amounts, if any, to the date of redemption, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date.
4.At any time on or after April 27, 2026, and prior to maturity, upon not less than 10 nor more than 60 days’ notice to the Trustee and the Holders, the Issuer may redeem all or part of the Notes. These redemptions will be in amounts of $200,000 or integral multiples of $1,000 in excess thereof at the following redemption prices (expressed as percentages of their principal amount at maturity), plus accrued and unpaid interest and Additional Amounts, if any, to the redemption date, if redeemed during the 12-month period commencing on April 27 of the years set forth below:
						
	Year	Redemption Price
	2026	102.250%
	2027	101.500%
	2028	100.750%
	2029 and thereafter	100.000%

f.REDEMPTION UPON CHANGES IN WITHHOLDING TAXES.
The Issuer may redeem the Notes, in whole but not in part, at its option, at 100% of the outstanding principal amount thereof plus accrued and unpaid interest to the date of redemption and any Additional Amounts (as defined under Section 4.22(a) of the Indenture) payable with respect thereto, if:
5.as a result of (i) any change in, or amendment to, the laws or treaties (or any regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction (as defined under Section 4.22(a) of the Indenture) affecting taxation which is publicly announced and becomes effective on or after the date of the Indenture or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the date of the Indenture, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under the Indenture or (ii) any change in, or amendment to, the existing official published position (including any such change or amendment occurring as a result of the introduction of an official position) regarding the application, 
A-6

administration or interpretation of the laws or treaties (or any regulations or rulings promulgated thereunder) of any Relevant Taxing Jurisdiction (including any such change or amendment occurring as a result of a holding, judgment or order by a court of competent jurisdiction or a change in published practice), which change or amendment is publicly announced and, where applicable, becomes effective on or after the date of the Indenture or, if such Relevant Taxing Jurisdiction has become a Relevant Taxing Jurisdiction after the date of the Indenture, on or after the date on which such Relevant Taxing Jurisdiction became a Relevant Taxing Jurisdiction under the Indenture (either, a “Change in Tax Law”), the Issuer has or will become obligated to pay Additional Amounts; and
6.such obligation cannot be avoided by the Issuer taking reasonable measures available to it; provided, however, that for this purpose reasonable measures shall not include any change in the Issuer’s jurisdiction of organization or the location of its principal executive office, or the incurrence of material out of pocket costs by it. No such notice of redemption will be given earlier than 90 days prior to the earliest date on which the Issuer would be obligated to pay such Additional Amounts if a payment in respect of the Notes were then due.
Prior to the publication or mailing of any notice of redemption of the Notes as described below, the Issuer must deliver to the Trustee (i) an Officers’ Certificate stating that the Issuer is entitled to effect such redemption and (ii) an opinion of legal counsel of recognized standing stating that the Issuer has or will become obligated to pay Additional Amounts due to a Change in Tax Law. The Trustee will accept and shall be entitled to rely on this certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent set forth in clauses (1) and (2) above, upon which it will be conclusive and binding on the Holders.
g.SINKING FUND. The Issuer will not be required to make any mandatory redemption or sinking fund payments with respect to the Notes.
h.REPURCHASE AT THE OPTION OF HOLDER.
7.Within 60 days of the occurrence of a Change of Control Triggering Event, the Issuer will be required to make an Offer to Purchase all Outstanding Notes at a purchase price equal to 101% of their principal amount plus accrued interest and any Additional Amounts thereon to the date of purchase.
8.When the aggregate amount of Excess Proceeds exceeds $75 million, the Issuer will, within 15 Business Days of the end of the applicable period in Section 4.10(b), make an Excess Proceeds Offer to all Holders and from the holders of any Pari Passu Debt, to the extent required by the terms thereof, on a pro rata basis, in accordance with the procedures set forth in Section 3.12 of the Indenture or the agreements governing any such Pari Passu Debt, the maximum principal amount (expressed as a minimum amount of $200,000 and integral multiples of $1,000 in excess thereof) of the Notes and any such Pari Passu Debt that may be purchased with the amount of the Excess Proceeds. The offer price as to each Note and any such Pari Passu Debt will be payable in cash in an amount equal to (solely in the case of the Notes) 100% of the principal amount of such Note and (solely in the case of Pari Passu Debt) no greater than 100% of the principal amount (or accreted value, as applicable) of such Pari Passu Debt, plus, in each case, accrued and unpaid interest, if any, to the date of purchase.
i.NOTICE OF REDEMPTION. At least 10 days but not more than 60 days before a redemption date, the Issuer will deliver, pursuant to Section 14.01 of the Indenture, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may 
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be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or the satisfaction and discharge of the Indenture.
j.DENOMINATIONS, TRANSFER, EXCHANGE.
[The Global Notes are in registered form without coupons attached. The Global Notes will represent the aggregate principal amount of all the Notes issued and not yet cancelled other than Definitive Registered Notes.]1 [The Definitive Registered Notes are in registered form without coupons attached in denominations of $200,000 and integral multiples of $1,000 above $200,000. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuer shall not be required to register the transfer of any Definitive Registered Notes (A) for a period of 15 days prior to any date fixed for the redemption of the Notes; (B) for a period of 15 days immediately prior to the date fixed for selection of Notes to be redeemed in part; (C) for a period of 15 days prior to the record date with respect to any interest payment date; or (D) which the Holder has tendered (and not withdrawn) for repurchase in connection with a Change of Control Offer or an Excess Proceeds Offer.]2
k.PERSONS DEEMED OWNERS. The registered Holder may be treated as the owner of it for all purposes.
l.AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture (including, without limitation, Section 3.12, Section 4.10 and Section 4.15 thereof), and the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then Outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Notes), and, subject to Section 6.04 and Section 6.07 of the Indenture, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium on, if any, interest or Additional Amounts, if any, on, the Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of the Indenture, the Notes may be waived with the consent of the Holders of a majority in aggregate principal amount of the then Outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes); provided that if any amendment, waiver or other modification will only affect one series of the Notes, only the consent of the Holders of a majority in aggregate principal amount of the then Outstanding Notes of such series shall be required. In certain circumstances, the Indenture or the Notes may be amended or supplemented without the consent of any Holder, including to cure any ambiguity, defect or inconsistency.
m.DEFAULTS AND REMEDIES. Except as set forth in Section 6.02 of the Indenture, if an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% of the aggregate principal amount of the then Outstanding Notes may, by written notice to the Issuer (and to the Trustee if given by the Holders), declare all the Notes to be due and payable immediately. If a bankruptcy or insolvency default with respect to the Issuer occurs and is continuing, the Notes automatically become due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity and/or security satisfactory to it before it enforces the Indenture or the Notes. Holders of a majority in aggregate principal amount of the then Outstanding Notes may direct the time, method and place of conducting any proceeding for 

2Include in any Definitive Registered Note
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exercising any remedy available to the Trustee or exercising any trust or power conferred on the Trustee.
n.AUTHENTICATION. This Note will not be valid until authenticated by the manual or electronic signature of the authorized signatory of the Trustee or an authenticating agent.
o.ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).
p.CUSIP AND ISIN AND COMMON CODE NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. The Issuer has caused Common Code numbers to be printed on the Notes and the Trustee may use Common Code numbers in notices of redemption as a convenience to Holders. In addition, the Issuer has caused ISIN numbers to be printed on the Notes and the Trustee may use ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of any such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.
q.GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE AND THIS NOTE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
For the avoidance of doubt, the provisions of articles 470-1 to 470-19 (included) of the Luxembourg Law dated August 10, 1915 on commercial companies, as amended from time to time, shall not apply to the Notes.
The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture or the form of Note. Requests may be made to:
MILLICOM INTERNATIONAL CELLULAR S.A.
2, rue du Fort Bourbon
L-1249 Luxembourg
Grand Duchy of Luxembourg
Facsimile No.: +352 27 759 901
Attention: Office of the General Counsel

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ASSIGNMENT FORM
To assign this Note, fill in the form below:
(I) or (we) assign and transfer this Note to:         
(Insert assignee’s legal name)
        
(Insert assignee’s soc. sec. or tax I.D. no.)
    
    
    
        
(Print or type assignee’s name, address and zip code)
and irrevocably appoint     
to transfer this Note on the books of the Issuer. The agent may substitute another to act for him.
Date: _______________
Your Signature:     
(Sign exactly as your name appears on the 
face of this Note)
Signature Guarantee*:     
* Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

A-10

OPTION OF HOLDER TO ELECT PURCHASE*
If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate box below
Section 4.10    Section 4.15
If you want to elect to have only part of the Note purchased by the Issuer pursuant to Section 4.10 or Section 4.15 of the Indenture, state the amount you elect to have purchased (in denominations of $200,000 or integral multiples of $1,000 in excess thereof):
$    
Date:     
Your Signature:     
(Sign exactly as your name appears on the face of this Note)
Tax Identification No.:     
Signature Guarantee*:     
Signature Guarantee*:
* Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

A-11

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE
The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Registered Note, or exchanges of a part of another Global Note or Definitive Registered Note for an interest in this Global Note, have been made:
															
	Date of Exchange	Amount of decrease in Principal Amount of 
this Global Note	Amount of increase in Principal Amount of 
this Global Note	Principal Amount of this Global Note following such decrease 
(or increase)	Signature of authorized officer of Paying Agent, Trustee or Custodian
					
					
					

A-12

A.
[Issuer address block]
[Trustee/Transfer Agent/Registrar address block]
Re:    $500,000,000 4.500% Senior Notes due 2031 of Millicom International Cellular S.A.
Reference is hereby made to the Indenture, dated as of October 27, 2020 (the “Indenture”), between, among others, Millicom International Cellular S.A., a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and Companies under the number B 40630 (the “Issuer”), Citibank, N.A., London Branch, as Trustee, Transfer Agent and. Paying Agent and Citigroup Global Markets Europe AG, as Registrar. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.
____________________, (the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $____________________ in such Note[s] or interests (the “Transfer”), to ____________________ (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that:
[CHECK ALL THAT APPLY]
1.    Check if Transferee will take delivery of a Book-Entry Interest in the 144A Global Note or a Definitive Registered Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or the Book-Entry Interest or Definitive Registered Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or the Book-Entry Interest or Definitive Registered Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A under the U.S. Securities Act in a transaction meeting the requirements of Rule 144A under the U.S. Securities Act and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or the Book-Entry Interest or Definitive Registered Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Definitive Registered Note and in the Indenture and the U.S. Securities Act.
2.    Check if Transferee will take delivery of a Book-Entry Interest in the Regulation S Global Note or a Definitive Registered Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the U.S. Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market, (ii) such Transferor does not know that the transaction was prearranged with a buyer in the United States, (iii) no directed selling efforts have been made in connection with the Transfer in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the U.S. Securities Act, (iv) the transaction is not part of a plan or scheme to evade the registration requirements of the U.S. Securities Act and (v) if the proposed transfer is being effected prior to the expiration of a Restricted Period, the transferee is not a U.S. 
B-1

Person, as such term is defined pursuant to Regulation S of the Securities Act, and will take delivery only as a Book-Entry Interest so transferred through DTC. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred Book-Entry Interest or Definitive Registered Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Registered Note and in the Indenture and the U.S. Securities Act.
3.    Check and complete if Transferee will take delivery of a Book-Entry Interest in a Global Note or a Definitive Registered Note pursuant to any provision of the U.S. Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to Book-Entry Interests in Global Notes and Definitive Registered Notes and pursuant to and in accordance with the U.S. Securities Act and any applicable blue sky securities laws of any state of the United States.
This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer.
    
[Insert Name of Transferor]
By:     
Name:
Title:
Dated:     

B-2

a.TO CERTIFICATE OF TRANSFER
1.    The Transferor owns and proposes to transfer the following:
[CHECK ONE OF (a) OR (b)]
(a)    a Book-Entry Interest in the:
(i)    144A Global Note ([CUSIP][ISIN][COMMON CODE] _________), or
(ii)    Regulation S Global Note ([CUSIP][ISIN][COMMON CODE] _________).
2.    After the Transfer the Transferee will hold:
[CHECK ONE]
(a)    a Book-Entry Interest in the:
(i)    144A Global Note ([CUSIP][ISIN][COMMON CODE] _________), or
(ii)    Regulation S Global Note ([CUSIP][ISIN][COMMON CODE] _________).
in accordance with the terms of the Indenture.

B-3

A.
[Issuer address block]
[Trustee/Transfer Agent/Registrar address block]
Re:    $500,000,000 4.500% Senior Notes due 2031 of Millicom International Cellular S.A.
(CUSIP        ; ISIN        ; Common Code     )
Reference is hereby made to the Indenture, dated as of October 27, 2020 (the “Indenture”), between, among others, Millicom International Cellular S.A., a public limited liability company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 2, rue du Fort Bourbon, L-1249 Luxembourg and registered with the Luxembourg Register of Commerce and Companies under the number B 40630 (the “Issuer”), Citibank, N.A., London Branch, as Trustee, Transfer Agent and Paying Agent and Citigroup Global Markets Europe AG, as Registrar. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.
    , (the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $__________ in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:
1.     Check if Exchange is from Book-Entry Interest in a Global Note for Definitive Registered Notes. In connection with the Exchange of the Owner’s Book-Entry Interest in a Global Note for Definitive Registered Notes in an equal amount, the Owner hereby certifies that such Definitive Registered Notes are being acquired for the Owner’s own account without transfer. The Definitive Registered Notes issued pursuant to the Exchange will bear the Private Placement Legend and will be subject to restrictions on transfer enumerated in the Indenture and the U.S. Securities Act.
2.     Check if Exchange is from Definitive Registered Notes for Book-Entry Interest in a Global Note. In connection with the Exchange of the Owner’s Definitive Registered Notes for Book- Entry Interest in a Global Note in an equal amount, the Owner hereby certifies that such Book-Entry Interest in a Global Note are being acquired for the Owner’s own account without transfer. The Book- Entry Interests transferred in exchange will be subject to restrictions on transfer enumerated in the Indenture and the U.S. Securities Act.
This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer.
    
[Insert Name of Transferor]
By:     
Name:
Title:
Dated:     

C-1

a.TO CERTIFICATE OF EXCHANGE
1.    The Owner owns and proposes to exchange the following:
[CHECK ONE OF (a) OR (b)]
(a)     a Book-Entry Interest held through DTC Account
No. ________ in the:
(i)     D144A Global Note ([CUSIP] [ISIN]     ), or
(ii)     Regulation S Global Note ([CUSIP][ISIN]     ), or
(b)     a Definitive Registered Note.
2.    After the Exchange the Owner will hold:
[CHECK ONE]
(a)     a Book-Entry Interest held through DTC Account
No. ________ in the:
(i)     D144A Global Note ([CUSIP][ISIN]     ), or
(ii)     Regulation S Global Note ([CUSIP][ISIN]     ), or
(b)     a Definitive Registered Note.
in accordance with the terms of the Indenture.

C-2

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