Document:

EX-10.2

 Exhibit 10.2 
  

 
  

DOUBLE EAGLE ACQUISITION SUB, INC., 

the GUARANTORS party hereto from time to time 

AND 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Trustee 

7.500% Senior Notes due 2024 
  

 
 INDENTURE 

Dated as of October 14, 2016 
  

 
  

 Table of Contents 

 

							
	 	 	 	  	Page	 
	ARTICLE I	 
	
	DEFINITIONS AND INCORPORATION BY REFERENCE	 
			
	SECTION 1.1.	 	 Definitions
	  	 	1	 
	SECTION 1.2.	 	 Other Definitions
	  	 	40	 
	SECTION 1.3.	 	 [Reserved]
	  	 	42	 
	SECTION 1.4.	 	 Rules of Construction
	  	 	42	 
	
	ARTICLE II	 
	
	THE NOTES	 
			
	SECTION 2.1.	 	 Form, Dating and Terms
	  	 	43	 
	SECTION 2.2.	 	 Execution and Authentication
	  	 	48	 
	SECTION 2.3.	 	 Registrar and Paying Agent
	  	 	49	 
	SECTION 2.4.	 	 Paying Agent to Hold Money in Trust
	  	 	49	 
	SECTION 2.5.	 	 Holder Lists
	  	 	50	 
	SECTION 2.6.	 	 Transfer and Exchange
	  	 	50	 
	SECTION 2.7.	 	 [Reserved]
	  	 	53	 
	SECTION 2.8.	 	 [Reserved]
	  	 	53	 
	SECTION 2.9.	 	 Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S
	  	 	53	 
	SECTION 2.10.	 	 [Reserved]
	  	 	55	 
	SECTION 2.11.	 	 Mutilated, Destroyed, Lost or Stolen Notes
	  	 	55	 
	SECTION 2.12.	 	 Outstanding Notes
	  	 	55	 
	SECTION 2.13.	 	 Temporary Notes
	  	 	56	 
	SECTION 2.14.	 	 Cancellation
	  	 	56	 
	SECTION 2.15.	 	 Payment of Interest; Defaulted Interest
	  	 	56	 
	SECTION 2.16.	 	 CUSIP and ISIN Numbers
	  	 	57	 
	
	ARTICLE III	 
	
	COVENANTS	 
			
	SECTION 3.1.	 	 Payment of Notes
	  	 	57	 
	SECTION 3.2.	 	 Limitation on Indebtedness
	  	 	58	 
	SECTION 3.3.	 	 Limitation on Restricted Payments
	  	 	63	 
	SECTION 3.4.	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	 	69	 
	SECTION 3.5.	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	71	 
	SECTION 3.6.	 	 Limitation on Liens
	  	 	74	 
	SECTION 3.7.	 	 Limitation on Guarantees
	  	 	74	 
	SECTION 3.8.	 	 Limitation on Affiliate Transactions
	  	 	75	 
	SECTION 3.9.	 	 Change of Control
	  	 	78	 
	SECTION 3.10.	 	 Reports
	  	 	80	 
	SECTION 3.11.	 	 Limitation on Business Activities Prior to Escrow Release Date
	  	 	82	 
	SECTION 3.12.	 	 Maintenance of Office or Agency
	  	 	83	 
	SECTION 3.13.	 	 Corporate Existence
	  	 	83	 
	SECTION 3.14.	 	 Payment of Taxes
	  	 	83	 
	SECTION 3.15.	 	 [Reserved]
	  	 	83	 
	SECTION 3.16.	 	 Compliance Certificate
	  	 	83	 
	SECTION 3.17.	 	 Further Instruments and Acts
	  	 	83	 
	SECTION 3.18.	 	 [Reserved]
	  	 	83	 

							
	 	 	 	  	Page	 
	SECTION 3.19.	 	 Statement by Officers as to Default
	  	 	84	 
	SECTION 3.20.	 	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	84	 
	SECTION 3.21.	 	 Suspension of Certain Covenants on Achievement of Investment Grade Status
	  	 	84	 
	
	ARTICLE IV	 
	
	SUCCESSOR COMPANY; SUCCESSOR PERSON	 
			
	SECTION 4.1.	 	 Merger and Consolidation
	  	 	85	 
	
	ARTICLE V	 
	
	REDEMPTION OF SECURITIES	 
			
	SECTION 5.1.	 	 Notices to Trustee
	  	 	86	 
	SECTION 5.2.	 	 Selection of Notes to Be Redeemed or Purchased
	  	 	87	 
	SECTION 5.3.	 	 Notice of Redemption
	  	 	87	 
	SECTION 5.4.	 	 [Reserved]
	  	 	88	 
	SECTION 5.5.	 	 Deposit of Redemption or Purchase Price
	  	 	88	 
	SECTION 5.6.	 	 Notes Redeemed or Purchased in Part
	  	 	88	 
	SECTION 5.7.	 	 Optional Redemption
	  	 	89	 
	SECTION 5.8.	 	 Mandatory Redemption
	  	 	90	 
	SECTION 5.9.	 	 Special Mandatory Redemption
	  	 	90	 
	
	ARTICLE VI	 
	
	DEFAULTS AND REMEDIES	 
			
	SECTION 6.1.	 	 Events of Default
	  	 	90	 
	SECTION 6.2.	 	 Acceleration
	  	 	92	 
	SECTION 6.3.	 	 Other Remedies
	  	 	93	 
	SECTION 6.4.	 	 Waiver of Past Defaults
	  	 	93	 
	SECTION 6.5.	 	 Control by Majority
	  	 	93	 
	SECTION 6.6.	 	 Limitation on Suits
	  	 	93	 
	SECTION 6.7.	 	 Rights of Holders to Receive Payment
	  	 	94	 
	SECTION 6.8.	 	 Collection Suit by Trustee
	  	 	94	 
	SECTION 6.9.	 	 Trustee May File Proofs of Claim
	  	 	94	 
	SECTION 6.10.	 	 Priorities
	  	 	94	 
	SECTION 6.11.	 	 Undertaking for Costs
	  	 	95	 
	
	ARTICLE VII	 
	
	TRUSTEE	 
			
	SECTION 7.1.	 	 Duties of Trustee
	  	 	95	 
	SECTION 7.2.	 	 Rights of Trustee
	  	 	96	 
	SECTION 7.3.	 	 Individual Rights of Trustee
	  	 	97	 
	SECTION 7.4.	 	 Trustee’s Disclaimer
	  	 	97	 
	SECTION 7.5.	 	 Notice of Defaults
	  	 	97	 
	SECTION 7.6.	 	 [Reserved]
	  	 	98	 
	SECTION 7.7.	 	 Compensation and Indemnity
	  	 	98	 
	SECTION 7.8.	 	 Replacement of Trustee
	  	 	98	 
	SECTION 7.9.	 	 Successor Trustee by Merger
	  	 	99	 
	SECTION 7.10.	 	 Eligibility; Disqualification
	  	 	99	 

  
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	 	 	 	  	Page	 
	SECTION 7.11.	 	 [Reserved]
	  	 	99	 
	SECTION 7.12.	 	 Trustee’s Application for Instruction from the Issuers
	  	 	99	 
	
	ARTICLE VIII	 
	
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 
			
	SECTION 8.1.	 	 Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance
	  	 	100	 
	SECTION 8.2.	 	 Legal Defeasance and Discharge
	  	 	100	 
	SECTION 8.3.	 	 Covenant Defeasance
	  	 	100	 
	SECTION 8.4.	 	 Conditions to Legal or Covenant Defeasance
	  	 	101	 
	SECTION 8.5.	 	 Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous
Provisions
	  	 	102	 
	SECTION 8.6.	 	 Repayment to the Issuers
	  	 	102	 
	SECTION 8.7.	 	 Reinstatement
	  	 	102	 
	
	ARTICLE IX	 
	
	AMENDMENTS	 
			
	SECTION 9.1.	 	 Without Consent of Holders
	  	 	102	 
	SECTION 9.2.	 	 With Consent of Holders
	  	 	103	 
	SECTION 9.3.	 	 Compliance with this Indenture
	  	 	104	 
	SECTION 9.4.	 	 Revocation and Effect of Consents and Waivers
	  	 	105	 
	SECTION 9.5.	 	 Notation on or Exchange of Notes
	  	 	105	 
	SECTION 9.6.	 	 Trustee to Sign Amendments
	  	 	105	 
	
	ARTICLE X	 
	
	GUARANTEE	 
			
	SECTION 10.1.	 	 Guarantee
	  	 	105	 
	SECTION 10.2.	 	 Limitation on Liability; Termination, Release and Discharge
	  	 	107	 
	SECTION 10.3.	 	 Termination of Co-Issuer Obligations
	  	 	107	 
	SECTION 10.4.	 	 Right of Contribution
	  	 	108	 
	SECTION 10.5.	 	 No Subrogation
	  	 	108	 
	
	ARTICLE XI	 
	
	SATISFACTION AND DISCHARGE	 
			
	SECTION 11.1.	 	 Satisfaction and Discharge
	  	 	108	 
	SECTION 11.2.	 	 Application of Trust Money
	  	 	109	 
	
	ARTICLE XII	 
	
	ESCROW MATTERS	 
			
	SECTION 12.1.	 	 Escrow Account
	  	 	110	 
	SECTION 12.2.	 	 Special Mandatory Redemption
	  	 	110	 
	SECTION 12.3.	 	 Release of Escrowed Property
	  	 	110	 
	SECTION 12.4.	 	 Trustee Direction to Execute Escrow Agreement
	  	 	110	 

  
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	 	 	 	  	Page	 
	ARTICLE XIII	 
	
	MISCELLANEOUS	 
			
	SECTION 13.1.	 	 Notices
	  	 	110	 
	SECTION 13.2.	 	 Certificate and Opinion as to Conditions Precedent
	  	 	111	 
	SECTION 13.3.	 	 Statements Required in Certificate or Opinion
	  	 	112	 
	SECTION 13.4.	 	 When Notes Disregarded
	  	 	112	 
	SECTION 13.5.	 	 Rules by Trustee, Paying Agent and Registrar
	  	 	112	 
	SECTION 13.6.	 	 Legal Holidays
	  	 	112	 
	SECTION 13.7.	 	 Governing Law
	  	 	112	 
	SECTION 13.8.	 	 Jurisdiction
	  	 	112	 
	SECTION 13.9.	 	 Waivers of Jury Trial
	  	 	113	 
	SECTION 13.10.	 	 USA PATRIOT Act
	  	 	113	 
	SECTION 13.11.	 	 No Recourse Against Others
	  	 	113	 
	SECTION 13.12.	 	 Successors
	  	 	113	 
	SECTION 13.13.	 	 Multiple Originals
	  	 	113	 
	SECTION 13.14.	 	 Table of Contents; Headings
	  	 	113	 
	SECTION 13.15.	 	 Force Majeure
	  	 	113	 
	SECTION 13.16.	 	 Severability
	  	 	113	 

  

			
	EXHIBIT A	  	Form of Global Restricted Note
	EXHIBIT B	  	Form of Supplemental Indenture to Add Guarantors
	EXHIBIT C	  	Form of Special Mandatory Redemption Notice
	EXHIBIT D	  	Form of Supplemental Indenture to be Delivered by the Issuer, the Co-Issuers and the Guarantors on the Escrow Release Date

  
 -iv- 

 INDENTURE dated as of October 14, 2016, among DOUBLE EAGLE ACQUISITION SUB, INC. (the
“Issuer”), the Guarantors party hereto from time to time and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture to provide for the issuance of (i) its 7.500% Senior
Notes due 2024 issued on the date hereof (the “Initial Notes”) and (ii) any additional Notes (“Additional Notes” and, together with the Initial Notes, the “Notes”) that may be issued after the
Issue Date. 
 WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture; 

WHEREAS, all things necessary (i) to make the Notes, when executed and duly issued by the Issuer and authenticated and delivered
hereunder, the valid obligations of the Issuer, and (ii) to make this Indenture a valid agreement of the Issuer have been done; and 

WHEREAS, upon consummation of the Acquisition (as defined herein) the Issuer will be merged into and survived by inVentiv Group Holdings,
Inc., a Delaware corporation, and from and after the consummation of the Acquisition, references to the “Issuer” shall refer to inVentiv Group Holdings, Inc. For the avoidance of doubt, references to the “Issuer” in the singular
shall not refer to the Co-Issuers (as defined herein). Upon consummation of the Acquisition, inVentiv Health, Inc., a Delaware corporation, and inVentiv Health Clinical, Inc., a Delaware corporation, each
wholly-owned Subsidiaries of inVentiv Group Holdings, Inc. (each, a “Co-Issuer,” together, the “Co-Issuers,” and together with the
Issuer, the “Issuers”) will become the co- issuers of the Notes offered hereby, respectively, and the Notes will be guaranteed on a senior unsecured basis by each of the Issuer’s existing
and future wholly-owned domestic subsidiaries (other than the Co-Issuers) that executes a supplemental indenture in the form attached as Exhibit B or Exhibit D, as applicable; 

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

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.1. Definitions. 

“ABL Credit Agreement” means the credit facility to be entered into by and among the Issuer, the other borrowers thereto, the
guarantors from time to time party thereto, Bank of America, N.A., as administrative agent and collateral agent, and each lender from time to time party thereto, together with the related documents thereto (including the revolving loans thereunder,
any letters of credit and reimbursement obligations related thereto, any Guarantees and security documents), as amended, extended, renewed, restated, refunded, replaced, refinanced, supplemented, modified or otherwise changed (in whole or in part,
and without limitation as to amount, terms, conditions, covenants and other provisions) from time to time, and any one or more agreements (and related documents) governing Indebtedness, including indentures, incurred to refinance, substitute,
supplement, replace or add to (including increasing the amount available for borrowing or adding or removing any Person as a borrower, issuer or guarantor thereunder, in whole or in part), the borrowings and commitments then outstanding or permitted
to be outstanding under such ABL Credit Agreement or one or more successors to the ABL Credit Agreement or one or more new credit agreements. 

“Acquired Indebtedness” means with respect to any Person (x) Indebtedness of any other Person or any of its Subsidiaries
existing at the time such other Person becomes a Restricted Subsidiary or merges or amalgamates with or into or consolidates or otherwise combines with the Issuer or any Restricted Subsidiary and (y) Indebtedness secured by a Lien encumbering
any asset acquired by such Person. Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (x) of the preceding sentence, on the date such Person becomes a Restricted Subsidiary or on the date of the relevant merger,
amalgamation, consolidation, acquisition or other combination. 

 “Acquisition” means the transactions contemplated by the Acquisition Agreement.

 “Acquisition Agreement” means the Agreement and Plan of Merger, by and among Double Eagle Parent, Inc., Double Eagle
Acquisition Sub, Inc., inVentiv Group Holdings, Inc., and Thomas H. Lee Equity Fund VI, L.P., as representative, dated as of July 31, 2016, as the same may be amended prior to the Escrow Release Date. 

“Additional Assets” means: 

(1) any property or assets (other than Capital Stock) used or to be used by the Issuer, a Restricted Subsidiary or otherwise
useful in a Similar Business (it being understood that capital expenditures on property or assets already used in a Similar Business or to replace any property or assets that are the subject of such Asset Disposition shall be deemed an investment in
Additional Assets); 
 (2) the Capital Stock of a Person that is engaged in a Similar Business and becomes a Restricted
Subsidiary as a result of the acquisition of such Capital Stock by the Issuer or a Restricted Subsidiary; or 
 (3) Capital
Stock constituting a minority interest in any Person that at such time is a Restricted Subsidiary. 
 “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 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. 
 “Alternative Currency” means any currency (other than U.S. dollars) that is
a lawful currency (other than U.S. dollars) that is readily available and freely transferable and convertible into U.S. dollars (as determined in good faith by the Issuer). 

“Applicable Premium” means the greater of (A) 1.0% of the principal amount of such Note and (B) on any redemption date,
the excess (to the extent positive) of: 
 (a) the present value at such redemption date of (i) the redemption price of
such Note at October 1, 2019 (such redemption price (expressed in percentage of principal amount) being set forth in the table under Section 5.7(d) (excluding accrued but unpaid interest, if any)), plus (ii) all
required interest payments due on such Note to and including such date set forth in clause (i) (excluding accrued but unpaid interest, if any), computed upon the redemption date using a discount rate equal to the Applicable Treasury Rate at such
redemption date plus 50 basis points; over 
 (b) the outstanding principal amount of such Note; 

in each case, as calculated by the Issuer or on behalf of the Issuer by such Person as the Issuer shall designate. The Trustee shall have no duty to calculate
or verify the calculations of the Applicable Premium. 
 “Applicable Treasury Rate” means the yield to maturity at the time
of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two Business Days prior to the
redemption date (or, if such statistical release is not so published or available, any publicly available source of similar market data selected by the Issuer in good faith)) most nearly equal to the period from the redemption date to
October 1, 2019; provided, however, that if the period from the redemption date to October 1, 2019 is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the
Applicable 

  
 -2- 

 
Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States
Treasury securities for which such yields are given, except that if the period from the redemption date to such applicable date is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a
constant maturity of one year shall be used. 
 “Asset Disposition” means: 

(a) the voluntary sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related
transactions, of property or assets (including by way of a Sale and Leaseback Transaction) of the Issuer or any of its Restricted Subsidiaries (in each case other than Capital Stock of the Issuer) (each referred to in this definition as a
“disposition”); or 
 (b) the issuance or sale of Capital Stock of any Restricted Subsidiary (other than Preferred
Stock or Disqualified Stock of Restricted Subsidiaries issued in compliance with Section 3.2 hereof or directors’ qualifying shares and shares issued to foreign nationals as required under applicable law), whether in a
single transaction or a series of related transactions; 
 in each case, other than: 

(1) a disposition by the Issuer or a Restricted Subsidiary to the Issuer or a Restricted Subsidiary; 

(2) a disposition of cash, Cash Equivalents or Investment Grade Securities; 

(3) a disposition of inventory or other assets (including Settlement Assets) in the ordinary course of business or consistent
with past practice or held for sale or no longer used in the ordinary course of business; 
 (4) a disposition of obsolete,
worn out, uneconomic, damaged or surplus property, equipment or other assets or property, equipment or other assets that are no longer economically practical or commercially desirable to maintain or used or useful in the business of the Issuer and
its Restricted Subsidiaries whether now or hereafter owned or leased or acquired in connection with an acquisition or used or useful in the conduct of the business of the Issuer and its Restricted Subsidiaries (including by ceasing to enforce,
allowing the lapse, abandonment or invalidation of or discontinuing the use or maintenance of or putting into the public domain any intellectual property that is, in the reasonable judgment of the Issuer or the Restricted Subsidiaries, no longer
used or useful, or economically practicable to maintain, or in respect of which the Issuer or any Restricted Subsidiary determines in its reasonable judgment that such action or inaction is desirable); 

(5) transactions permitted under Section 4.1 hereof or a transaction that constitutes a Change of
Control; 
 (6) an issuance of Capital Stock by a Restricted Subsidiary to the Issuer or to another Restricted Subsidiary or
as part of or pursuant to an equity incentive or compensation plan approved by the Board of Directors; 
 (7) any
dispositions of Capital Stock, properties or assets in a single transaction or series of related transactions with a fair market value (as determined in good faith by the Issuer) of less than the greater of $50.0 million and 12.5% of LTM
EBITDA; 
 (8) any Restricted Payment that is permitted to be made, and is made, under Section 3.3
and the making of any Permitted Payment or Permitted Investment or, solely for purposes of Section 3.5(a)(3), asset sales, the proceeds of which are used to make such Restricted Payments or Permitted Investments; 

(9) dispositions in connection with Permitted Liens; 

  
 -3- 

 (10) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or consistent with past practice or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

(11) conveyances, sales, transfers, licenses or sub-licenses or other dispositions of
intellectual property, software or other general intangibles and licenses, sub-licenses, leases or subleases of other property, in each case, in the ordinary course of business or consistent with past practice
or pursuant to a research or development agreement in which the counterparty to such agreement receives a license in the intellectual property or software that results from such agreement; 

(12) the lease, assignment, license, sub-lease or
sub-license of any real or personal property in the ordinary course of business; 

(13) foreclosure, condemnation or any similar action with respect to any property or other assets; 

(14) the sale or discount (with or without recourse, and on customary or commercially reasonable terms and for credit
management purposes) of accounts receivable or notes receivable arising in the ordinary course of business or consistent with past practice, or the conversion or exchange of accounts receivable for notes receivable; 

(15) any issuance or sale of Capital Stock in, or Indebtedness or other securities of, an Unrestricted Subsidiary or any other
disposition of Capital Stock, Indebtedness or other securities of an Unrestricted Subsidiary or an Immaterial Subsidiary; 

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

(17) (i) dispositions of property to the extent that such property is exchanged for credit against the purchase price of
similar replacement property that is promptly purchased, (ii) dispositions of property to the extent that the proceeds of such disposition are promptly applied to the purchase price of such replacement property (which replacement property is
actually promptly purchased), and (iii) to the extent allowable under Section 1031 of the Code, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 

(18) sales of accounts receivable, or participations therein, in connection with any Receivables Facility, or the disposition
of an account receivable in connection with the collection or compromise thereof in the ordinary course of business or consistent with past practice; 

(19) any financing transaction with respect to property constructed, acquired, replaced, repaired or improved (including any
reconstruction, refurbishment, renovation and/or development of real property) by the Issuer or any Restricted Subsidiary after the Escrow Release Date, including Sale and Leaseback Transactions and asset securitizations, permitted by this
Indenture; 
 (20) dispositions of Investments in joint ventures or similar entities to the extent required by, or made
pursuant to customary buy/sell arrangements between, the parties to such joint venture set forth in joint venture arrangements and similar binding arrangements; 

(21) any surrender or waiver of contractual rights or the settlement, release, surrender or waiver of contractual, tort,
litigation or other claims of any kind; 
 (22) the unwinding of any Cash Management Services or Hedging Obligations; and 

(23) dispositions of non-core assets. 

  
 -4- 

 In the event that a transaction (or any portion thereof) meets the criteria of a permitted Asset
Disposition and would also be a Permitted Investment or an Investment permitted under Section 3.3, the Issuer, in its sole discretion, will be entitled to divide and classify such transaction (or a portion thereof) as an
Asset Disposition and/or one or more of the types of Permitted Investments or Investments permitted under Section 3.3. 

“Associate ” means (i) any Person engaged in a Similar Business of which the Issuer or its Restricted Subsidiaries are
the legal and beneficial owners of between 20.0% and 50.0% of all outstanding Voting Stock and (ii) any joint venture entered into by the Issuer or any Restricted Subsidiary. 

“Bankruptcy Law” means Title 11 of the United States Code or similar federal or state law for the relief of 

debtors. 
 “Board of Directors”
means (1) with respect to the Issuer or any corporation, the board of directors or managers, as applicable, of the corporation, or any duly authorized committee thereof; (2) with respect to any partnership, the board of directors or other
governing body of the general partner, as applicable, of the partnership or any duly authorized committee thereof; (3) with respect to a limited liability company, the managing member or members or any duly authorized controlling committee
thereof; and (4) with respect to any other Person, the board or any duly authorized committee of such Person serving a similar function. Whenever any provision requires any action or determination to be made by, or any approval of, a Board of
Directors, such action, determination or approval shall be deemed to have been taken or made if approved by a majority of the directors on any such Board of Directors (whether or not such action or approval is taken as part of a formal board meeting
or as a formal board approval). 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of a Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Borrowing Base” means at any given time an amount equal to: 

 

	 	(a)	85.0% of the face amount of all accounts receivable owned by the Issuer and its Restricted Subsidiaries as of the end of the most recent fiscal quarter preceding the date of determination; plus 

 

	 	(b)	90.0% of the book value of all inventory owned by the Issuer and its Restricted Subsidiaries as of the end of the most recent fiscal quarter preceding the date of determination; plus 

 

	 	(c)	90.0% of the face amount of all credit card receivables owned by the Issuer and its Restricted Subsidiaries as of the end of the most recent fiscal quarter preceding the date of determination; plus

  

	 	(d)	the lesser of (i) 80% of the face amount of all billings and unbilled receivables (including unbilled time and material accounts) owned by the Issuer and its Restricted Subsidiaries as of the end of the most recent
fiscal quarter preceding the date of determination and (ii) 45% of the total Borrowing Base (including any amounts described in sub-clause (i) of this clause (d); plus 

 

	 	(e)	100.0% of all cash held in a deposit account either (x) maintained with the administrative agent under the ABL Credit Agreement or (y) over which the administrative agent under the ABL Credit Agreement has a
perfected security interest. 

  
 -5- 

 The Borrowing Base shall be calculated on a pro forma basis to (i) include any accounts
receivable, inventory, credit card receivables, unbilled receivables and billings owned by an entity that is to be merged with or into the Issuer or a Restricted Subsidiary or is to become a Restricted Subsidiary on (or has so merged or become a
Restricted Subsidiary prior to) the date of determination, and (ii) exclude any accounts receivable, inventory, credit card receivables, unbilled receivables and billings owned by the Issuer or a Restricted Subsidiary that is to be sold or
otherwise disposed of on (or has been sold or otherwise disposed of prior to) the date of determination. 
 “Business Day”
means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York, United States or in the jurisdiction of the place of payment are authorized or required by law to close. 

“Business Successor” means (a) any former Subsidiary of the Issuer and (b) any Person that, after the Escrow
Release Date, has acquired, merged or consolidated with a Subsidiary of the Issuer (that results in such Subsidiary ceasing to be a Subsidiary of the Issuer), or acquired (in one transaction or a series of transactions) all or substantially all of
the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or division of a Subsidiary of the Issuer. 

“Capital Stock” of any Person means any and all shares of, rights to purchase, warrants, options or depositary receipts for,
or other equivalents of, or partnership or other interests in (however designated), equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into, or exchangeable for such equity. 

“Capitalized Lease Obligations” means an obligation that is required to be classified and accounted for as a capitalized
lease for financial reporting purposes on the basis of GAAP. The amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation at the time any determination thereof is to be made as determined on the basis
of GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated without penalty. 

“Cash Equivalents” means: 
  

	 	(1)	(a) U.S. dollars, Canadian dollars, Swiss Francs, United Kingdom pounds, Euro or any national currency of any member state of the European Union; or (b) any other foreign currency held by the Issuer and the
Restricted Subsidiaries in the ordinary course of business; 

  

	 	(2)	securities issued or directly and fully Guaranteed or insured by the United States, Canadian, Swiss or United Kingdom governments, a member state of the European Union on the Issue Date or, in each case, any agency or
instrumentality thereof (provided that the full faith and credit of such country or such member state is pledged in support thereof), having maturities of not more than two years from the date of acquisition; 

 

	 	(3)	certificates of deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any
lender or by any bank or trust company (a) whose commercial paper is rated at least “A-2” or the equivalent thereof by S&P or at least “P-2”
or the equivalent thereof by Moody’s (or if at the time neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization) or (b) (in the event that the bank or trust company does
not have commercial paper which is rated) having combined capital and surplus in excess of $100.0 million; 

  

	 	(4)	repurchase obligations for underlying securities of the types described in clauses (2), (3) and (7) entered into with any bank meeting the qualifications specified in clause (3) above; 

 

	 	(5)	securities with maturities of one year or less from the date of acquisition backed by standby letters of credit issued by any Person referenced in clause (3) above; 

 

	 	(6)	 commercial paper and variable or fixed rate notes issued by a bank meeting the qualifications specified in clause
(3) above (or by the parent company thereof) maturing within one year after the date of creation thereof or any commercial paper and variable or fixed rate note issued by, or guaranteed by a corporation rated at least (A) “A-1” or higher by S&P or “P-1” or higher by 

  
 -6- 

	 	
Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer) maturing
within two years after the date of creation thereof or (B) “A-2” or higher by S&P or “P-2” or higher by Moody’s (or, if at the time, neither
is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer) maturing within one year after the date of creation thereof, or, in each case, if no rating is available
in respect of the commercial paper or variable or fixed rate notes, the issuer of which has an equivalent rating in respect of its long-term debt; 

  

	 	(7)	marketable short-term money market and similar securities having a rating of at least “P-2” or “A-2” from either
S&P or Moody’s, respectively (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer), and in each case maturing within 24
months after the date of creation or acquisition thereof; 

  

	 	(8)	readily marketable direct obligations issued by any state, province, commonwealth or territory of the United States of America, Canada, Switzerland, the United Kingdom any member state of the European Union on the Issue
Date or any political subdivision, taxing authority or public instrumentality thereof, in each case, having one of the two highest ratings categories obtainable from either Moody’s or S&P (or, if at the time, neither is issuing comparable
ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer) with maturities of not more than two years from the date of creation or acquisition; 

 

	 	(9)	readily marketable direct obligations issued by any foreign government or any political subdivision, taxing authority or public instrumentality thereof, in each case, having one of the two highest ratings categories
obtainable by S&P or Moody’s (or, if at the time, neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer) with maturities of not more than two
years from the date of acquisition; 

  

	 	(10)	Investments with average maturities of 12 months or less from the date of acquisition in money market funds rated within the three highest ratings categories by S&P or Moody’s (or, if at the time, neither is
issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer); 

  

	 	(11)	with respect to any Foreign Subsidiary: (i) obligations of the national government of the country in which such Foreign Subsidiary maintains its chief executive office and principal place of business provided such
country is a member of the Organization for Economic Cooperation and Development, in each case maturing within one year after the date of investment therein, (ii) certificates of deposit of, bankers acceptance of, or time deposits with, any
commercial bank which is organized and existing under the laws of the country in which such Foreign Subsidiary maintains its chief executive office and principal place of business provided such country is a member of the Organization for Economic
Cooperation and Development, and whose short-term commercial paper rating from S&P is at least “A-2” or the equivalent thereof or from Moody’s is at least
“P-2” or the equivalent thereof (any such bank being an “Approved Foreign Bank”), and in each case with maturities of not more than 270 days from the date of acquisition and
(iii) the equivalent of demand deposit accounts which are maintained with an Approved Foreign Bank; 

  

	 	(12)	Indebtedness or Preferred Stock issued by Persons with a rating of “BBB-” or higher from S&P or “Baa3” or higher from Moody’s (or, if at the time,
neither is issuing comparable ratings, then a comparable rating of another Nationally Recognized Statistical Rating Organization selected by the Issuer) with maturities of 24 months or less from the date of acquisition; 

 

	 	(13)	bills of exchange issued in the United States, Canada, Switzerland, the United Kingdom a member state of the European Union on the Issue Date or Japan eligible for rediscount at the relevant central bank and accepted by
a bank (or any dematerialized equivalent); 

  
 -7- 

	 	(14)	investments in money market funds access to which is provided as part of “sweep” accounts maintained with any bank meeting the qualifications specified in clause (3) above; 

 

	 	(15)	investments in industrial development revenue bonds that (i) “re-set” interest rates not less frequently than quarterly, (ii) are entitled to the benefit of a
remarketing arrangement with an established broker dealer and (iii) are supported by a direct pay letter of credit covering principal and accrued interest that is issued by any bank meeting the qualifications specified in clause (3) above;

  

	 	(16)	investments in pooled funds or investment accounts consisting of investments in the nature described in the foregoing clause (15); 

  

	 	(17)	Cash Equivalents or instruments similar to those referred to in clauses (1) through (16) above denominated in U.S. Dollars or any Alternative Currency; 

 

	 	(18)	interests in any investment company, money market, enhanced high yield fund or other investment fund which invests 90.0% or more of its assets in instruments of the types specified in clauses (1) through
(17) above; and 

  

	 	(19)	for purposes of clause (2) of the definition of “Asset Disposition,” any marketable securities portfolio owned by the Issuer and its Subsidiaries on the Escrow Release Date. 

In the case of Investments by any Foreign Subsidiary that is a Restricted Subsidiary or Investments made in a country outside the United States of America,
Cash Equivalents shall also include (a) investments of the type and maturity described in clauses (1) through (19) above of foreign obligors, which Investments or obligors (or the parents of such obligors) have ratings described in such
clauses or equivalent ratings from comparable foreign rating agencies and (b) other short-term investments utilized by Foreign Subsidiaries that are Restricted Subsidiaries in accordance with normal investment practices for cash management in
investments analogous to the foregoing investments in clauses (1) through (19) and in this paragraph. Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated in currencies other than those set forth in clause
(1) above, provided that such amounts are converted into any currency listed in clause (1) as promptly as practicable and in any event within 10 Business Days following the receipt of such amounts. For the avoidance of doubt, any
items identified as Cash Equivalents under this definition (other than clause (19) above) will be deemed to be Cash Equivalents for all purposes under this Indenture regardless of the treatment of such items under GAAP. 

“Cash Management Services” means any of the following to the extent not constituting a line of credit (other than an
overnight draft facility that is not in default): automated clearing house transactions, treasury, depository, credit or debit card, purchasing card, stored value card, electronic fund transfer services and/or cash management services, including,
without limitation, controlled disbursement services, overdraft facilities, foreign exchange facilities, deposit and other accounts and merchant services or other cash management arrangements in the ordinary course of business or consistent with
past practice. 
 “Change of Control” means: 
  

	 	(1)	the Issuer becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) any “person” or “group” of related
persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act as in effect on the Issue Date), other than one or more Permitted Holders, is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the Issue Date) of more than 50.0% of the total voting power of the Voting Stock of the Issuer other than in connection
with any transaction or series of transactions in which the Issuer shall become the wholly-owned subsidiary of a Parent Entity so long as no person or group, as noted above, other than a Permitted Holder, holds more than 50.0% of the total voting
power of the Voting Stock of such Parent Entity; or 

  
 -8- 

	 	(2)	the sale, lease, transfer, conveyance or other disposition (other than by way of merger, amalgamation, consolidation or other business combination transaction), in one or a series of related transactions, of all or
substantially all of the assets of the Issuer and its Restricted Subsidiaries taken as a whole to a Person, other than the Issuer or any of its Restricted Subsidiaries or one or more Permitted Holders. 

Notwithstanding the foregoing, (a) a transaction will not be deemed to involve a Change of Control solely as a result of the Issuer
becoming a direct or indirect wholly-owned subsidiary of a holding company if (A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of our
Voting Stock immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than
50% of the Voting Stock of such holding company and (b) the right to acquire Voting Stock (so long as such Person does not have the right to direct the voting of the Voting Stock subject to such right) or any veto power in connection with the
acquisition or disposition of Voting Stock will not cause a party to be a beneficial owner. 
 “Code” means the United
States Internal Revenue Code of 1986, as amended. 
 “Co-Issuer” has the meaning
ascribed to it in the recitals of this Indenture. 
 “Consolidated Depreciation and Amortization Expense” means, with
respect to any Person for any period, the total amount of depreciation and amortization expense, including amortization or write-off of (i) intangibles and non-cash
organization costs, (ii) deferred financing fees or costs and (iii) capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount
resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in
accordance with GAAP and any write-down of assets or asset value carried on the balance sheet. 
 “Consolidated EBITDA”
means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period: 
  

	 	(1)	increased (without duplication) by: 

  

	 	(a)	any (x) Transaction Expenses and (y) any fees, costs, expenses or charges (other than Consolidated Depreciation and Amortization Expense) related to any actual, proposed or contemplated Equity Offering
(including any expense relating to enhanced accounting functions or other transactions costs associated with becoming a public company), Permitted Investment, acquisition, disposition, recapitalization or the incurrence of Indebtedness permitted to
be incurred by this Indenture (including a refinancing thereof) (whether or not successful), including (i) such fees, expenses or charges related to the offering of the Notes, the Credit Agreements, any other Credit Facilities and any
Receivables Fees, and (ii) any amendment, waiver or other modification of the Notes, the Credit Agreements, Receivables Facilities, any other Credit Facilities, any Receivables Fees, any other Indebtedness permitted to be Incurred under this
Indenture or any Equity Offering, in each case, whether or not consummated, to the extent the same were deducted (and not added back) in computing Consolidated Net Income; plus 

 

	 	(b)	provision for taxes based on income or profits, revenue or capital, including, without limitation, federal, state, provincial, territorial, local, foreign, unitary, excise, property, franchise and similar taxes and
foreign withholding and similar taxes of such Person paid or accrued during such period, including any penalties and interest relating to any tax examinations (including, without limitation, any additions to such taxes, and any penalties and
interest with respect thereto), deducted (and not added back) in computing Consolidated Net Income; plus 

  
 -9- 

	 	(c)	any other non-cash charges, write-downs, expenses, losses or items reducing Consolidated Net Income for such period including any impairment charges, including bad debt expense,
or the impact of purchase accounting (provided that if any such non-cash charge, write-down or item to the extent it represents an accrual or reserve for a cash expenditure for a future period then the cash
payment in such future period shall be subtracted from Consolidated EBITDA when paid) or other items classified by the Issuer as special items less other non-cash items of income increasing Consolidated Net
Income (excluding any such non-cash item of income to the extent it represents a receipt of cash in any future period); plus 

 

	 	(d)	(i) the amount of any restructuring charge, accrual or reserve (and adjustments to existing reserves), integration cost or other business optimization expense or cost (including charges directly related to the
implementation of cost-savings initiatives) that is deducted (and not added back) in such period in computing Consolidated Net Income, including any one-time costs incurred in connection with acquisitions or
divestitures after the Issue Date, including, without limitation, those related to any severance, retention, signing bonuses, relocation, recruiting and other employee related costs, internal costs in respect of strategic initiatives and
curtailments or modifications to pension and post-retirement employment benefit plans (including any settlement of pension liabilities), systems development and establishment costs, future lease commitments and costs related to the opening and
closure and/or consolidation of facilities and to exiting lines of business and consulting fees incurred with any of the foregoing and (ii) fees, costs and expenses associated with acquisition related litigation and settlements thereof;
plus 

  

	 	(e)	any net loss included in the Consolidated Net Income attributable to non-controlling interests pursuant to the application of Accounting Standards Codification Topic 810-10-45 (“Topic 810”); plus 

  

	 	(f)	the amount of board of director fees, management, monitoring, advisory, consulting, financing, refinancing, subsequent transaction, advisory, underwriting or placement, investment banking and exit fees (including
termination fees) and related indemnities and expenses (including reimbursements) paid or accrued in such period to any member of the Board of Directors of the Issuer, any Permitted Holder or any Affiliate of a Permitted Holder to the extent
permitted under Section 3.8; plus 

  

	 	(g)	net realized losses from Hedging Obligations or embedded derivatives that require similar accounting treatment and the application of Accounting Standard Codification Topic 815 (“Topic 815”) and related
pronouncements; plus 

  

	 	(h)	cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing Consolidated EBITDA or Consolidated Net Income in any period to the extent
non-cash gains relating to such income were deducted in the calculation of Consolidated EBITDA pursuant to clause (2) below for any previous period and not added back; plus 

 

	 	(i)	any costs or expense incurred by the Issuer or a Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement, any severance agreement
or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded with cash proceeds contributed to the capital of the Issuer or Net Cash Proceeds of an issuance of Capital Stock (other than Disqualified Stock)
of the Issuer solely to the extent that such Net Cash Proceeds are excluded from the calculation set forth in Section 3.3(a)(3); plus 

 

	 	(j)	any net pension or other post-employment benefit costs representing amortization of unrecognized prior service costs, actuarial losses, including amortization of such amounts arising in prior periods, amortization of
the unrecognized net obligation (and loss or cost) existing at the date of the initial application of Accounting Standards Codification Topic 715, and any other items of a similar nature; plus 

  
 -10- 

	 	(k)	the amount of loss or discount on sale of receivables and related assets to the Receivables Subsidiary in connection with a Receivables Facility; plus 

 

	 	(l)	earn-out and contingent consideration obligations (including to the extent accounted for as bonuses, compensation or otherwise) and adjustments thereof and purchase price
adjustments, in each case in connection with acquisitions or an Investment; plus 

  

	 	(m)	the amount of “run rate” cost savings (including, without limitation, cost savings with respect to salary, benefit and other direct savings resulting from workforce reductions and facility, benefit and
insurance savings), operating expense reductions, other operating improvements and initiatives and synergies projected by the Issuer in good faith to be reasonably anticipated to be realizable or a plan for realization shall have been established
within 24 months of the date thereof (which will be added to Consolidated EBITDA as so projected until fully realized and calculated on a pro forma basis as though such cost savings (including, without limitation, cost savings with respect to
salary, benefit and other direct savings resulting from workforce reductions and facility, benefit and insurance savings), operating expense reductions, other operating improvements and initiatives and synergies had been realized on the first day of
such period), net of the amount of actual benefits realized prior to or during such period from such actions; provided that all steps have been taken, or are reasonably expected to be taken, in good faith, for realizing such cost savings and
such cost savings are reasonably identifiable and factually supportable (in the good faith determination of the Issuer); plus 

  

	 	(n)	Fixed Charges of such Person for such period (including (x) net losses on any Hedging Obligations or other derivative instruments entered into for the purpose of hedging interest rate, currency or commodities risk,
(y) bank fees and (z) costs of surety bonds in connection with financing activities, plus amounts excluded from the definition of “Consolidated Interest Expense” pursuant to clauses (t) through (z) in clause
(1) thereof), to the extent the same were deducted (and not added back) in calculating such Consolidated Net Income; plus 

  

	 	(o)	Consolidated Depreciation and Amortization Expense of such Person for such period to the extent the same were deducted (and not added back) in computing Consolidated Net Income; plus 

 

	 	(p)	the amount of any minority interest expense consisting of Subsidiary income attributable to minority equity interests of third parties in any non-wholly owned Subsidiary;
plus 

  

	 	(q)	realized foreign exchange losses resulting from the impact of foreign currency changes on the valuation of assets or liabilities on the balance sheet of the Issuer and its Restricted Subsidiaries; plus

  

	 	(r)	the amount of expenses relating to payments made to option holders of the Issuer or any Parent Entity in connection with, or as a result of, any distribution being made to equityholders of such Person or its Parent
Entities, which payments are being made to compensate such option holders as though they were equityholders at the time of, and entitled to share in, such distribution, in each case to the extent permitted under this Indenture; plus

  

	 	(s)	losses, expenses or charges (including all fees and expenses or charges related thereto) (i) from abandoned, closed, disposed or discontinued operations and any losses on disposal of abandoned, closed or discontinued
operations and (ii) attributable to business dispositions or asset dispositions (other than in the ordinary course of business) as determined in good faith; plus 

  
 -11- 

	 	(t)	Public Company Costs; plus 

  

	 	(u)	costs related to the implementation of operational and reporting systems and technology initiatives; plus 

  

	 	(v)	the amount of any revenue that is attributable to services performed during such period but is not included in Consolidated Net Income for such period; it being understood that if such revenue is added back in
calculating Consolidated EBITDA for such period, such revenue shall not be included in Consolidated EBITDA in the period in which it is actually recognized; plus 

 

	 	(w)	adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote (2) of “Summary—Summary Consolidated Financial and Operating Data” contained
in the Offering Circular applied in good faith to the extent such adjustments continue to be applicable during the period in which Consolidated EBITDA is being calculated; and 

(2) decreased (without duplication) by non-cash gains increasing Consolidated Net
Income of such Person for such period, excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced Consolidated EBITDA in any prior
period. 
 “Consolidated Interest Expense” means, with respect to any Person for any period, without duplication, the sum
of: 
 (1) consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such
expense was deducted (and not added back) in computing Consolidated Net Income (including (a) amortization of original issue discount or premium resulting from the issuance of Indebtedness at less than par (other than with respect to
Indebtedness borrowed under the Credit Agreements in connection with the Transactions), (b) all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers acceptances,
(c) non-cash interest payments (but excluding any non-cash interest expense attributable to the movement in the mark to market valuation of any Hedging Obligations
or other derivative instruments pursuant to GAAP), (d) the interest component of Capitalized Lease Obligations, and (e) net payments, if any, pursuant to interest rate Hedging Obligations with respect to Indebtedness, and excluding
(s) Receivables Fees; (t) penalties and interest relating to taxes, (u) any additional interest owing pursuant to any registration rights agreement, (v) accretion or accrual of discounted liabilities other than Indebtedness,
(w) any expense resulting from the discounting of any Indebtedness in connection with the application of recapitalization accounting or purchase accounting in connection with the Transactions or any acquisition, (x) amortization or write-off of deferred financing fees, debt issuance costs, debt discount or premium, terminated hedging obligations and other commissions, financing fees and expenses and original issue discount with respect to
Indebtedness borrowed under the Credit Agreements and, adjusted, to the extent included, to exclude any refunds or similar credits received in connection with the purchasing or procurement of goods or services under any purchasing card or similar
program, (y) any expensing of bridge, commitment and other financing fees and (z) interest with respect to Indebtedness of any parent of such Person appearing upon the balance sheet of such Person solely by reason of push-down accounting
under GAAP); plus 
 (2) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such
period, whether paid or accrued; less 
 (3) interest income for such period. 

  
 -12- 

 For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an
interest rate reasonably determined by such Person to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the net income (loss) of such Person and its
Restricted Subsidiaries for such period determined on a consolidated basis on the basis of GAAP before any reduction in respect of Preferred Stock dividends; provided, however, that there will not be included in such Consolidated Net
Income: 
 (1) any extraordinary, exceptional, unusual or nonrecurring, loss, charge or expense (including Transaction
Expenses or any charges, expenses or reserves in respect of any restructuring, redundancy or severance expense or relocation costs, integration and facilities’ opening costs and other business optimization expenses and operating improvements
(including related to new product introductions), systems development and establishment costs, restructuring charges, accruals or reserves (including restructuring and integration costs related to acquisitions after the Escrow Release Date and
adjustments to existing reserves), whether or not classified as restructuring expense on the consolidated financial statements, signing costs, retention or completion bonuses, transition costs, costs related to closure/consolidation of facilities,
internal costs in respect of strategic initiatives and curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement of pension liabilities), contract terminations and professional and consulting fees
incurred with any of the foregoing; 
 (2) the cumulative effect of a change in law, regulation or accounting principles,
including any impact resulting from an election by the Issuer to apply IFRS at any time following the Issue Date; 
 (3) any
costs associated with the Transactions; 
 (4) any fees and expenses (including any transaction or retention bonus or similar
payment) incurred during such period, or any amortization thereof for such period, in connection with any acquisition, Investment, asset disposition, issuance or repayment of Indebtedness, issuance of Capital Stock, refinancing transaction or
amendment or modification of any debt instrument (in each case, including any such transaction consummated prior to the Escrow Release Date and any such transaction undertaken but not completed) and any charges or
non-recurring merger costs incurred during such period as a result of any such transaction, in each case whether or not successful (including, for avoidance of doubt, the effects of expensing all
transaction-related expenses in accordance with Financial Accounting Standards Codification No. 805 and gains or losses associated with Financial Accounting Standards Codification No. 460); 

(5) all deferred financing costs written off and premiums paid or other expenses incurred directly in connection with any early
extinguishment of Indebtedness and any net gain (loss) from any write-off or forgiveness of Indebtedness; 

(6) accruals and reserves that are established or adjusted (including any adjustment of estimated payouts on existing
earn-outs) that are so required to be established as a result of the Transactions in accordance with GAAP, or changes as a result of adoption or modification of accounting policies; 

(7) any (i) non-cash compensation charge or expense arising from any grant of
stock, stock options or other equity based awards and any non-cash deemed finance charges in respect of any pension liabilities or other provisions or on the
re-valuation of any benefit plan obligation and (ii) income (loss) attributable to deferred compensation plans or trusts; 

(8) any net income (loss) of any Person if such Person is not a Restricted Subsidiary (including any net income (loss) from
investments recorded in such Person under the equity method of accounting), except that the Issuer’s equity in the net income of any such Person for such period will be included in such Consolidated Net Income up to the aggregate amount of cash
or Cash Equivalents actually distributed or that (as reasonably determined by an Officer of the Issuer) could have been distributed by 

  
 -13- 

 
such Person during such period to the Issuer or a Restricted Subsidiary as a dividend or other distribution or return on investment (subject, in the case of a dividend or other distribution or
return on investment to a Restricted Subsidiary, to the limitations contained in clause (9) below); 
 (9) solely for
the purpose of determining the amount available for Restricted Payments under Section 3.3(a)(4)(iii)(B) hereof, any net income (loss) of any Restricted Subsidiary (other than the Issuer and the Guarantors) if such
Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Issuer or a Guarantor by operation of the terms of such
Restricted Subsidiary’s articles, charter or any agreement, instrument, judgment, decree, order, statute or governmental rule or regulation applicable to such Restricted Subsidiary or its shareholders (other than (a) restrictions that have
been waived or otherwise released, (b) restrictions pursuant to the Credit Agreements, the Notes or this Indenture and (c) restrictions specified in Section 3.4(b)(14)(i)), except that the Issuer’s equity in the
net income of any such Restricted Subsidiary for such period will be included in such Consolidated Net Income up to the aggregate amount of cash or Cash Equivalents actually distributed or that could have been distributed by such Restricted
Subsidiary during such period to the Issuer or another Restricted Subsidiary as a dividend or other distribution (subject, in the case of a dividend to another Restricted Subsidiary, to the limitation contained in this clause); 

(10) any gain (or loss), together with any related provisions for taxes on any such gain (or the tax effect of any such loss),
realized upon the sale or other disposition of any asset (including pursuant to any Sale and Leaseback Transaction) or disposed or discontinued operations of the Issuer or any Restricted Subsidiaries which is not sold or otherwise disposed of in the
ordinary course of business (as determined in good faith by an Officer or the Board of Directors of the Issuer); 
 (11) any
unrealized gains or losses in respect of any Hedging Obligations or any ineffectiveness recognized in earnings related to qualifying hedge transactions or the fair value of changes therein recognized in earnings for derivatives that do not qualify
as hedge transactions, in each case, in respect of any Hedging Obligations; 
 (12) any unrealized foreign currency
translation increases or decreases or transaction gains or losses in respect of Indebtedness of any Person denominated in a currency other than the functional currency of such Person, including those related to currency remeasurements of
Indebtedness (including any net loss or gain resulting from Hedging Obligations for currency exchange risk) or other obligations of the Issuer or any Restricted Subsidiary owing to the Issuer or any Restricted Subsidiary and any unrealized foreign
exchange gains or losses relating to translation of assets and liabilities denominated in foreign currencies; 
 (13) any
unrealized or realized gain or loss due solely to fluctuations in currency values and the related tax effects, determined in accordance with GAAP; 

(14) any recapitalization accounting or purchase accounting effects including, but not limited to, adjustments to inventory,
property and equipment, lease, rights fee arrangements software, goodwill and other intangible assets and deferred revenue in component amounts required or permitted by GAAP and related authoritative pronouncements (including the effects of such
adjustments pushed down to the Issuer and the Restricted Subsidiaries), as a result of any consummated acquisition (including the Transaction), or the amortization or write-off of any amounts thereof
(including any write-off of in process research and development); 
 (15) any
impairment charge, write-off or write-down, including impairment charges, write-offs or write-downs related to intangible assets, long-lived assets, goodwill, investments in debt or equity securities
(including any losses with respect to the foregoing in bankruptcy, insolvency or similar proceedings) and the amortization of intangibles arising pursuant to GAAP; 

(16) any after-tax effect of income (loss) from the early extinguishment or
cancellation of Indebtedness or any Hedging Obligations or other derivative instruments; 

  
 -14- 

 (17) any net unrealized gains and losses resulting from Hedging Obligations or
embedded derivatives that require similar accounting treatment and the application of Topic 815 and related pronouncements or mark to market movement of other financial instruments pursuant to Accounting Standards Codification 825 and related
pronouncements; 
 (18) any non-cash expenses, accruals or reserves related to
adjustments to historical tax exposures and any deferred tax expense associated with tax deductions or net operating losses arising as a result of the Transactions, or the release of any valuation allowances related to such item; and 

(19) (i) payments to third parties in respect of research and development, including amounts paid upon signing, success,
completion and other milestones and other progress payments, to the extent expensed and (ii) effects of adjustments to accruals and reserves during a period relating to any change in the methodology of calculating reserves for returns, rebates
and other chargebacks (including government program rebates). 
 In addition, to the extent not already included in the Consolidated Net
Income of such Person and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall include (i) any expenses and charges that are reimbursed by indemnification or other reimbursement
provisions in connection with any investment or any sale, conveyance, transfer or other disposition of assets permitted hereunder, or, so long as the Issuer has made a determination that there exists reasonable evidence that such amount will in fact
be reimbursed and only to the extent that such amount is (A) not denied by the applicable payor in writing within 180 days and (B) in fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added
back to the extent not so reimbursed within 365 days) and (ii) to the extent covered by insurance (including business interruption insurance) and actually reimbursed, or, so long as the Issuer has made a determination that there exists
reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (A) not denied by the applicable carrier in writing within 180 days and (B) in fact reimbursed within 365 days of the
date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or business interruption. 

“Consolidated Secured Leverage Ratio” means, as of any date of determination, the ratio of (x) the sum of (a)
Consolidated Total Indebtedness secured by a Lien as of such date and (b) the Reserved Indebtedness Amount secured by a Lien as of such date to (y) LTM EBITDA. 

“Consolidated Total Indebtedness” means, as of any date of determination, (a) the aggregate principal amount of
Indebtedness for borrowed money (excluding Indebtedness with respect to Cash Management Services, intercompany Indebtedness, Subordinated Indebtedness and Indebtedness outstanding under the ABL Credit Agreement that was used to finance seasonal
working capital needs of the Issuer and its Restricted Subsidiaries (as determined by the Issuer in its reasonable discretion) as of such date), plus (b) the aggregate principal amount of Capitalized Lease Obligations, Purchase Money
Obligations and unreimbursed drawings under letters of credit of the Issuer and its Restricted Subsidiaries outstanding on such date minus (c) the aggregate amount of cash and Cash Equivalents included in the consolidated balance sheet of the
Issuer and its Restricted Subsidiaries as of the end of the most recent fiscal period for which internal financial statements of the Issuer are available (provided that the cash proceeds of any proposed Incurrence of Indebtedness shall not be
included in this clause (c) for purposes of calculating the Consolidated Total Leverage Ratio or the Consolidated Secured Leverage Ratio, as applicable), with such pro forma adjustments as are consistent with the pro forma adjustments set forth
in the definition of “Fixed Charge Coverage Ratio.” For the avoidance of doubt, “Consolidated Total Indebtedness” shall exclude Indebtedness in respect of any Receivables Facility. 

“Consolidated Total Leverage Ratio” means, as of any date of determination, the ratio of (x) the sum of
(i) Consolidated Total Indebtedness and (ii) the Reserved Indebtedness Amount, each as of such date to (y) LTM EBITDA. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing in any manner, whether
directly or indirectly, any operating lease, dividend or other obligation that does not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”), including any obligation of such
Person, whether or not contingent: 

  
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 (1) to purchase any such primary obligation or any property constituting direct
or indirect security therefor; 
 (2) to advance or supply funds: 

(a) for the purchase or payment of any such primary obligation; or 

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

“Controlled Investment Affiliate” means, as to any Person, any other Person, which directly or indirectly is in control of,
is controlled by, or is under common control with such Person and is organized by such Person (or any Person controlling such Person) primarily for making direct or indirect equity or debt investments in the Issuer and/or other companies. 

“Covenant Suspension” means, during any period of time following the issuance of the Notes, that (i) the Notes have
achieved Investment Grade Status, and (ii) no Default or Event of Default has occurred and is continuing under this Indenture. 

“Credit Agreements” means, collectively, the ABL Credit Agreement and the Term Loan Credit Agreement. 

“Credit Facility” means, with respect to the Issuer or any of its Subsidiaries, one or more debt facilities, indentures or
other arrangements (including the Credit Agreements, commercial paper facilities and overdraft facilities) with banks, other financial institutions or investors providing for revolving credit loans, term loans, notes, 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 Indebtedness, 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 whether in whole or in part and whether or not with the original administrative agent and lenders or another
administrative agent or agents or other banks or institutions and whether provided under the original Credit Agreements or one or more other credit or other agreements, indentures, financing agreements or otherwise) and in each case including all
agreements, instruments and documents executed and delivered pursuant to or in connection with the foregoing (including 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 (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Issuer as additional borrowers or guarantors thereunder, (3) increasing the amount of
Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof. 

“Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default;
provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be cured if such previous Default is cured prior to becoming an Event
of Default. 
 “Definitive Notes” means certificated Notes. 

  
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 “Depositary” means, with respect to the Notes issuable or issued in whole or in
part in global form, the Person specified in Section 2.3 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the
applicable provision of this Indenture. 
 “Designated Non-Cash Consideration”
means the fair market value (as determined in good faith by the Issuer) of non-cash consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Disposition that is so
designated as Designated Non-Cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a
subsequent payment, redemption, retirement, sale or other disposition of such Designated Non-Cash Consideration. A particular item of Designated Non- Cash Consideration
will no longer be considered to be outstanding when and to the extent it has been paid, redeemed or otherwise retired or sold or otherwise disposed of in compliance with Section 3.5 hereof. 

“Designated Preferred Stock” means Preferred Stock of the Issuer or a Parent Entity (other than Disqualified Stock) that is
issued for cash (other than to the Issuer or a Subsidiary of the Issuer or an employee stock ownership plan or trust established by the Issuer or any such Subsidiary for the benefit of their employees to the extent funded by the Issuer or such
Subsidiary) and that is designated as “Designated Preferred Stock” pursuant to an Officer’s Certificate of the Issuer at or prior to the issuance thereof, the Net Cash Proceeds of which are excluded from the calculation set forth in
Section 3.3(a)(4)(iii)(C) hereof. 
 “Disinterested Director” means, with respect to any
Affiliate Transaction, a member of the Board of Directors of the Issuer having no material direct or indirect financial interest in or with respect to such Affiliate Transaction. A member of the Board of Directors of the Issuer shall be deemed not
to have such a financial interest by reason of such member’s holding Capital Stock of the Issuer or any options, warrants or other rights in respect of such Capital Stock. 

“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: 
 (1)
matures or is mandatorily redeemable for cash or in exchange for Indebtedness pursuant to a sinking fund obligation or otherwise; or 

(2) is or may become (in accordance with its terms) upon the occurrence of certain events or otherwise redeemable or
repurchasable for cash or in exchange for Indebtedness 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 (a) the Stated Maturity of the Notes or (b) the date on which there are no Notes outstanding; provided, however, that (i) 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 and (ii) 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 (howsoever defined or referred to) shall not constitute Disqualified Stock if any such redemption or repurchase
obligation is subject to compliance by the relevant Person with Section 3.3 hereof; provided, however, that if such Capital Stock is issued to any future, current or former employee, director, officer,
contractor or consultant (or their respective Controlled Investment Affiliates (excluding the Permitted Holders (but not excluding any future, current or former employee, director, officer, contractor or consultant)) or Immediate Family Members), of
the Issuer, any of its Subsidiaries, any Parent Entity or any other entity in which the Issuer or a Restricted Subsidiary has an Investment and is designated in good faith as an “affiliate” by the board of directors of the Issuer (or the
compensation committee thereof) or any other plan for the benefit of current, former or future employees (or their respective Controlled Investment Affiliates or Immediate Family Members) of the Issuer or its Subsidiaries or by any such plan to such
employees (or their respective Controlled Investment Affiliates or Immediate Family Members), such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer or its Subsidiaries in order
to satisfy applicable statutory or regulatory obligations. 

  
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 “Domestic Subsidiary” means, with respect to any Person, any Restricted
Subsidiary of such Person other than a Foreign Subsidiary. 
 “DTC” means The Depository Trust Company or any successor
securities clearing agency. 
 “Equity Offering” means a sale of Capital Stock (other than through the issuance of
Disqualified Stock or Designated Preferred Stock or through an Excluded Contribution) other than (a) offerings registered on Form S-8 (or any successor form) under the Securities Act or any similar
offering in other jurisdictions or other securities of the Issuer or any Parent Entity and (b) issuances of Capital Stock to any Subsidiary of the Issuer. 

“Escrow Account” means a segregated account under the control of the Trustee pursuant to the Escrow Agreement, in which the
gross proceeds of the offering of the Notes sold on the Issue Date will be deposited. 
 “Escrow Agent” means Wilmington
Trust, National Association, in its capacity as escrow agent. 
 “Escrow Agreement” means the escrow agreement, dated as of
October 14, 2016, as amended, supplemented or modified from time to time, among the Issuer, the Trustee and the Escrow Agent, relating to the escrow of proceeds from the offer and sale of the Notes. 

“Escrow Conditions” means the conditions precedent to the release of the Escrowed Property set forth in Exhibit B to the
Escrow Agreement, including the delivery of a Supplemental Indenture in the form of Exhibit D by the Issuer, each Co-Issuer and each domestic Restricted Subsidiary required to Guarantee the Notes on the
Escrow Release Date. 
 “Escrowed Property” has the meaning assigned to such term in the Escrow Agreement. 

“Escrow Release” means the release by the Escrow Agent of the Escrowed Property at the entitled direction of the Issuer,
other than in connection with the payment of a semi-annual interest payment or a Special Mandatory Redemption. 
 “Escrow Release
Date” means the date of the Escrow Release. 
 “Euro” means the single currency of participating member states of
the economic and monetary union as contemplated in the Treaty on European Union. 
 “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder, as amended. 

“Excluded Contribution” means Net Cash Proceeds or property or assets received by the Issuer as capital contributions to the
equity (other than through the issuance of Disqualified Stock or Designated Preferred Stock) of the Issuer after the Issue Date or from the issuance or sale (other than to a Restricted Subsidiary or an employee stock ownership plan or trust
established by the Issuer or any Subsidiary of the Issuer for the benefit of their employees to the extent funded by the Issuer or any Restricted Subsidiary) of Capital Stock (other than Disqualified Stock or Designated Preferred Stock) of the
Issuer, in each case, to the extent designated as an Excluded Contribution pursuant to an Officer’s Certificate of the Issuer. 

“fair market value” may be conclusively established by means of an Officer’s Certificate or resolutions of the Board of
Directors of the Issuer setting out such fair market value as determined by such Officer or such Board of Directors in good faith. 

“Fitch” means Fitch Ratings, Inc. or any of its successors or assigns that is a Nationally Recognized Statistical Rating
Organization. 

  
 -18- 

 “Fixed Charge Coverage Ratio” means, with respect to any Person on any
determination date, the ratio of Consolidated EBITDA of such Person for the most recent four consecutive fiscal quarters ending immediately prior to such determination date (the “reference period”) for which internal consolidated
financial statements are available to the Fixed Charges of such Person for the reference period. In the event that the Issuer or any Restricted Subsidiary Incurs, assumes, guarantees, redeems, defeases, retires or extinguishes any Indebtedness
(other than Indebtedness incurred under any revolving credit facility unless such Indebtedness has been permanently repaid and has not been replaced) or has caused any Reserved Indebtedness Amount to be deemed to be incurred during such period or
issues or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the reference period but prior to or simultaneously with the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Fixed
Charge Coverage Ratio Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, deemed Incurrence, assumption, Guarantee, redemption, defeasance, retirement or extinguishment of
Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period; provided, however, that for purposes of the pro forma
calculation under Section 3.2(a) such calculation shall not give effect to any Indebtedness Incurred on such determination date pursuant to the provisions described in Section 3.2(b) (other than
Section 3.2(b)(5)(ii)). 
 For purposes of making the computation referred to above, any Investments,
acquisitions, dispositions, mergers, amalgamations, consolidations and disposed operations that have been made by the Issuer or any of its Restricted Subsidiaries, during the reference period or subsequent to the reference period and on or prior to
or simultaneously with the Fixed Charge Coverage Ratio Calculation Date shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and disposed or discontinued
operations (and the change in any associated fixed charge obligations and the change in Consolidated EBITDA resulting therefrom) had occurred on the first day of the reference period. If since the beginning of such period any Person that
subsequently became a Restricted Subsidiary or was merged or amalgamated with or into the Issuer or any of its Restricted Subsidiaries since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation,
consolidation or disposed or discontinued operation that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment,
acquisition, disposition, merger, amalgamation, consolidation or disposed operation had occurred at the beginning of the reference period. 

For purposes of this definition, whenever pro forma effect is to be given to a transaction, the pro forma calculations shall be made in good
faith by a responsible financial or chief accounting officer of the Issuer (including cost savings and synergies). If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for the entire reference period (taking into account any Hedging Obligations applicable to such Indebtedness). Interest on a
Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance
with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed with a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during
the reference period except as set forth in the first paragraph of this definition. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate,
or other rate, shall be determined to have been based upon the rate actually chosen, or if none, then based upon such optional rate chosen as the Issuer may designate. 

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

(1) Consolidated Interest Expense of such Person for such Period; 

(2) all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred
Stock of any Restricted Subsidiary of such Person during such period; and 
 (3) all cash dividends or other distributions
paid (excluding items eliminated in consolidation) on any series of Disqualified Stock during this period. 

  
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 “Foreign Subsidiary” means, with respect to any Person, any Subsidiary of such
Person that is not organized or existing under the laws of the United States, any state thereof or the District of Columbia and any Subsidiary of such Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect on the date of any
calculation or determination required hereunder. Except as otherwise set forth in this Indenture, all ratios and calculations based on GAAP contained in this Indenture shall be computed in accordance with GAAP as in effect on the Issue Date. At any
time after the Issue Date, the Issuer may elect to establish that GAAP shall mean the GAAP as in effect on or prior to the date of such election; provided that any such election, once made, shall be irrevocable. At any time after the Issue
Date, the Issuer may elect to apply IFRS accounting principles in lieu of GAAP and, upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS (except as otherwise provided in this Indenture), including as to the
ability of the Issuer to make an election pursuant to the previous sentence; provided that any such election, once made, shall be irrevocable; provided, further, that any calculation or determination in this Indenture that
require the application of GAAP for periods that include fiscal quarters ended prior to the Issuer’s election to apply IFRS shall remain as previously calculated or determined in accordance with GAAP; provided, further again, that
the Issuer may only make such election if it also elects to report any subsequent financial reports required to be made by the Issuer, including pursuant to Section 13 or Section 15(d) of the Exchange Act and
Section 3.10 hereof, in IFRS. The Issuer shall give notice of any such election made in accordance with this definition to the Trustee and the Holders. 

“Guarantee” means, any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any
Indebtedness of any other Person, including any such obligation, direct or indirect, contingent or otherwise, of such Person: 

(1) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such other Person
(whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay or to maintain
financial statement conditions or otherwise); or 
 (2) entered into primarily for purposes of assuring in any other manner
the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part), 

provided, however, that the term “Guarantee” will not include (x) endorsements for collection or deposit in the ordinary
course of business or consistent with past practice and (y) standard contractual indemnities or product warranties provided in the ordinary course of business, and provided, further, that the amount of any Guarantee shall be
deemed to be the lower of (i) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee is made and (ii) the maximum amount for which such guaranteeing Person may be liable pursuant
to the terms of the instrument embodying such Guarantee or, if such Guarantee is not an unconditional guarantee of the entire amount of the primary obligation and such maximum amount is not stated or determinable, the amount of such guaranteeing
Person’s maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith. The term “Guarantee” used as a verb has a corresponding meaning. 

“Guarantor” means any Restricted Subsidiary that Guarantees the Notes, until such Note Guarantee is released in accordance
with the terms of this Indenture. 
 “Hedging Obligations” means, with respect to any Person, the obligations of such
Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign exchange contracts, currency swap agreement or similar
agreement providing for the transfer or mitigation of interest rate, commodity price or currency risks either generally or under specific contingencies. 

“Holder” means each Person in whose name the Notes are registered on the Registrar’s books, which shall initially be the
nominee of DTC. 

  
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 “IFRS” means the International Financial Reporting Standards, as issued by the
International Accounting Standards Board as in effect from time to time. 
 “Immaterial Subsidiary” means, at any date of
determination, Improved Outcome K.K. and each Restricted Subsidiary of the Issuer that (i) has not guaranteed any other Indebtedness of the Issuer and (ii) has Total Assets and revenues of less than 5.0% of Total Assets and, together with
all other Immaterial Subsidiaries (as determined in accordance with GAAP), has Total Assets and revenues of less than 10.0% of Total Assets, in each case, measured at the end of the most recent fiscal period for which internal financial statements
are available and revenues on a pro forma basis giving effect to any acquisitions or dispositions of companies, divisions or lines of business since such balance sheet date or the start of such four quarter period, as
applicable, and on or prior to the date of acquisition of such Subsidiary. 
 “Immediate Family Members” means, with
respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former spouse, qualified domestic partner, sibling, mother-
in-law, father-in-law, son-in-law and daughter-in-law (including adoptive relationships) and any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the
foregoing individuals or any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is the donor. 

“Incur” means issue, create, assume, enter into any Guarantee of, incur, extend or otherwise become liable for;
provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Restricted Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) will be deemed to be
Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing and any Indebtedness pursuant to any revolving credit or
similar facility shall only be “Incurred” at the time any funds are borrowed thereunder. 
 “Indebtedness” means,
with respect to any Person on any date of determination (without duplication): 
 (1) the principal of Indebtedness of such
Person for borrowed money; 
 (2) the principal of obligations of such Person evidenced by bonds, debentures, notes or other
similar instruments; 
 (3) all reimbursement obligations of such Person in respect of letters of credit, bankers’
acceptances or other similar instruments (the amount of such obligations being equal at any time to the aggregate then undrawn and unexpired amount of such letters of credit or other instruments plus the aggregate amount of drawings thereunder that
have not been reimbursed) (except to the extent such reimbursement obligations relate to trade payables and such obligations are satisfied within 30 days of Incurrence); 

(4) the principal component of all obligations of such Person to pay the deferred and unpaid purchase price of property (except
trade payables or similar obligations to trade creditors), which purchase price is due more than one year after the date of placing such property in service or taking final delivery and title thereto; 

(5) Capitalized Lease Obligations of such Person; 

(6) the principal component of all obligations, or liquidation preference, of such Person with respect to any Disqualified
Stock or, with respect to any Restricted Subsidiary, any Preferred Stock (but excluding, in each case, any accrued dividends); 

(7) the principal component of all Indebtedness of other Persons secured by a Lien on any asset of such Person, whether or not
such Indebtedness is assumed by such Person; provided, however, that the amount of such Indebtedness will be the lesser of (a) the fair market value of such asset at such date of determination (as determined in good faith by the
Issuer) and (b) the amount of such Indebtedness of such other Persons; 

  
 -21- 

 (8) Guarantees by such Person of the principal component of Indebtedness of the
type referred to in clauses (1), (2), (3), (4), (5) and (9) of other Persons to the extent Guaranteed by such Person; and 

(9) to the extent not otherwise included in this definition, net obligations of such Person under Hedging Obligations (the
amount of any such obligations to be equal at any time to the net payments under such agreement or arrangement giving rise to such obligation that would be payable by such Person at the termination of such agreement or arrangement); 

with respect to clauses (1), (2), (4) and (5) above, if and to the extent that any of the foregoing Indebtedness (other than letters of credit and
Hedging Obligations) would appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP. 

The amount of Indebtedness of any Person at any time in the case of a revolving credit or similar facility shall be the total amount of funds
borrowed and then outstanding. The amount of any Indebtedness outstanding as of any date shall be (a) the accreted value thereof in the case of any Indebtedness issued with original issue discount and (b) the principal amount of
Indebtedness, or liquidation preference thereof, in the case of any other Indebtedness. Indebtedness shall be calculated without giving effect to the effects of Financial Accounting Standards Board Accounting Standards Codification Topic
No. 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for any embedded derivatives created by the terms of
such Indebtedness. 
 Notwithstanding the above provisions, in no event shall the following constitute Indebtedness: 

(i) Contingent Obligations Incurred in the ordinary course of business or consistent with past practice, other than Guarantees
or other assumptions of Indebtedness; 
 (ii) Obligations under or in respect of Receivables Facilities; 

(iii) Cash Management Services; 

(iv) any lease, concession or license of property (or Guarantee thereof) which would be considered an operating lease under
GAAP as in effect on the Issue Date or any prepayments of deposits received from clients or customers in the ordinary course of business or consistent with past practice; 

(v) obligations under any license, permit or other approval (or Guarantees given in respect of such obligations) incurred prior
to the Escrow Release Date or in the ordinary course of business or consistent with past practice; 
 (vi) in connection with
the purchase by the Issuer or any Restricted Subsidiary of any business, any post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a final closing balance sheet or such payment depends
on the performance of such business after the closing; provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed and determined, the
amount is paid in a timely manner; 
 (vii) for the avoidance of doubt, any obligations in respect of workers’
compensation claims, early retirement or termination obligations, pension fund obligations or contributions or similar claims, obligations or contributions or social security or wage Taxes; 

(viii) Indebtedness of any Parent Entity appearing on the balance sheet of the Issuer solely by reason of push down accounting
under GAAP; 

  
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 (ix) Capital Stock (other than Disqualified Stock); or 

(x) amounts owed to dissenting stockholders pursuant to applicable law (including in connection with, or as a result of,
exercise of appraisal rights and the settlement of any claims or action (whether actual, contingent or potential)), pursuant to or in connection with a consolidation, merger or transfer of all or substantially all of the assets of the Issuer and its
Restricted Subsidiaries, taken as a whole, that complies with the covenant described under Section 4.1. 

“Indenture” means this Indenture as amended or supplemented from time to time. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged in
Similar Businesses of nationally recognized standing; provided, however, that such firm or appraiser is not an Affiliate of the Issuer. 

“Initial Notes” has the meaning ascribed to it in the recitals of this Indenture. 

“Initial Purchasers” means Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Barclays Capital Inc. and Jefferies LLC. 

“Investment” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the
form of advances, loans or other extensions of credit (other than advances or extensions of credit to customers, suppliers, directors, officers or employees of any Person in the ordinary course of business or consistent with past practice, and
excluding any debt or extension of credit represented by a bank deposit other than a time deposit) or capital contribution to (by means of any transfer of cash or other property to others or any payment for property or services for the account or
use of others), or the Incurrence of a Guarantee of any obligation of, or any purchase or acquisition of Capital Stock, Indebtedness or other similar instruments issued by, such other Persons and all other items that are or would be classified as
investments on a balance sheet prepared on the basis of GAAP; provided, however, that endorsements of negotiable instruments and documents in the ordinary course of business or consistent with past practice will not be deemed to
be an Investment. If the Issuer or any Restricted Subsidiary issues, sells or otherwise disposes of any Capital Stock of a Person that is a Restricted Subsidiary such that, after giving effect thereto, such Person is no longer a Restricted
Subsidiary, any Investment by the Issuer or any Restricted Subsidiary in such Person remaining after giving effect thereto will be deemed to be a new Investment at such time. 

For purposes of Section 3.3 and Section 3.20 hereof: 

(1) “Investment” will include the portion (proportionate to the Issuer’s 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 of the Issuer at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided,
however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer will be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the
Issuer’s “Investment” in such Subsidiary at the time of such redesignation less (b) the portion (proportionate to the Issuer’s equity interest in such Subsidiary) of the fair market value of the net assets (as determined by
the Issuer) of such Subsidiary at the time that such Subsidiary is so re-designated a Restricted Subsidiary; and 

(2) any property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such
transfer, in each case as determined by the Issuer. 
 “Investment Grade Securities” means: 

(1) securities issued or directly and fully Guaranteed or insured by the United States or Canadian government or any agency or
instrumentality thereof (other than Cash Equivalents); 

  
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 (2) securities issued or directly and fully guaranteed or insured by a member of
the European Union or the United Kingdom, or any agency or instrumentality thereof (other than Cash Equivalents); 
 (3) debt
securities or debt instruments with a rating of “A-” or higher from S&P or “A3” or higher by Moody’s or the equivalent of such rating by such rating organization or, if no rating
of Moody’s or S&P then exists, the equivalent of such rating by any other Nationally Recognized Statistical Ratings Organization, but excluding any debt securities or instruments constituting loans or advances among the Issuer and its
Subsidiaries; and 
 (4) investments in any fund that invests exclusively in investments of the type described in clauses
(1), (2) and (3) above which fund may also hold cash and Cash Equivalents pending investment or distribution. 
 “Investment
Grade Status” shall occur when the Notes receive two of the following: 
 (1) a rating of “BBB-” or higher from S&P; 
 (2) a rating of “Baa3” or higher from
Moody’s; or 
 (3) a rating of “BBB-” or higher from Fitch; 

or, if no rating of Moody’s, S&P or Fitch then exists, the equivalent of such rating by any other Nationally Recognized Statistical Ratings
Organization. 
 “Issue Date” means October 14, 2016. 

“Issuer” has the meaning assigned to it in the recitals of this Indenture. 

“Issuers” has the meaning assigned to it in the recitals of this Indenture. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien, hypothecation or charge of any kind (including any
conditional sale or other title retention agreement or lease in the nature thereof); provided that in no event shall an operating lease to be deemed to constitute a Lien. 

“LTM EBITDA” means Consolidated EBITDA of the Issuer measured for the period of the most recent four consecutive fiscal
quarters ending prior to the date of such determination for which internal consolidated financial statements of the Issuer are available, in each case with such pro forma adjustments giving effect to such Indebtedness, acquisition or Investment, as
applicable, since the start of such four quarter period and as are consistent with the pro forma adjustments set forth in the definition of “Fixed Charge Coverage Ratio”. 

“Management Advances” means loans or advances made to, or Guarantees with respect to loans or advances made to, directors,
officers, employees, contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) of any Parent Entity, the Issuer or any Restricted Subsidiary: 

(1) (a) in respect of travel, entertainment or moving related expenses Incurred in the ordinary course of business or
consistent with past practice or (b) for purposes of funding any such person’s purchase of Capital Stock (or similar obligations) of the Issuer, its Subsidiaries or any Parent Entity with (in the case of this
sub-clause (b)) the approval of the Board of Directors; 
 (2) in respect of moving
related expenses Incurred in connection with any closing or consolidation of any facility or office; or 
 (3) not exceeding
the greater of $40.0 million and 10.0% of LTM EBITDA in the aggregate outstanding at the time of Incurrence. 

  
 -24- 

 “Management Stockholders” means the members of management of the Issuer (or any
Parent Entity) or its Subsidiaries who are holders of Capital Stock of the Issuer or of any Parent Entity on the Escrow Release Date or will become holders of such Capital Stock in connection with the Transactions. 

“Market Capitalization” means an amount equal to (i) the total number of issued and outstanding shares of common Capital
Stock of the Issuer or any Parent Entity on the date of the declaration of a Restricted Payment permitted pursuant to Section 3.3(b)(10) multiplied by (ii) the arithmetic mean of the closing prices per share of such
common Capital Stock on the principal securities exchange on which such common Capital Stock are traded for the 30 consecutive trading days immediately preceding the date of declaration of such Restricted Payment. 

“Moody’s” means Moody’s Investors Service, Inc. or any of its successors or assigns that is a Nationally Recognized
Statistical Rating Organization. 
 “Nationally Recognized Statistical Rating Organization” means a nationally recognized
statistical rating organization within the meaning of Rule 436 under the Securities Act. 
 “Net Available Cash” from an
Asset Disposition means cash payments received (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and net proceeds from the sale or other disposition of any
securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring person of Indebtedness or other obligations relating to the properties or assets that are
the subject of such Asset Disposition or received in any other non-cash form) therefrom, in each case net of: 

(1) all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expenses
Incurred, and all Taxes paid, reasonably estimated to be actually payable or accrued as a liability under GAAP (including, for the avoidance of doubt, any income, withholding and other Taxes payable as a result of the distribution of such proceeds
to the Issuer and after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Disposition, including distributions for Related Taxes; 

(2) all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with
the terms of any Lien upon such assets, or which by applicable law be repaid out of the proceeds from such Asset Disposition; 

(3) all distributions and other payments required to be made to minority interest holders (other than any Parent Entity, the
Issuer or any of its respective Subsidiaries) in Subsidiaries or joint ventures as a result of such Asset Disposition; 
 (4)
the deduction of appropriate amounts required to be provided by the seller as a reserve, on the basis of GAAP, against any liabilities associated with the assets disposed of in such Asset Disposition and retained by the Issuer or any Restricted
Subsidiary after such Asset Disposition; and 
 (5) any funded escrow established pursuant to the documents evidencing such
sale or disposition to secure any indemnification obligation or adjustments to the purchase price associated with any such Asset Disposition. 

“Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale
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 reasonably estimated to be actually payable as a result of such issuance or sale (including, for the avoidance of doubt, any income, withholding and other Taxes payable as a result of the distribution of such proceeds
to the Issuer and after taking into account any available tax credit or deductions and any tax sharing agreements, and including distributions for Related Taxes). 

“Non-Guarantor” means any Restricted Subsidiary of the Issuer that is not a Guarantor
or a Co-Issuer. 

  
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 “Non-U.S. Person” means a Person who is
not a U.S. Person (as defined in Regulation S). 
 “Note Documents” means the Notes (including Additional Notes), the Note
Guarantees and this Indenture. 
 “Notes” has the meaning ascribed to it in the recitals of this Indenture. 

“ Notes Custodian” means the custodian with respect to the Global Notes (as appointed by DTC), or any successor Person
thereto and shall initially be the Trustee. 
 “Obligations” means any principal, interest (including Post-Petition
Interest and fees accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Issuer, a Co-Issuer or any Guarantor whether or not a claim for Post-Petition Interest or
fees is allowed in such proceedings), penalties, fees, indemnifications, reimbursements (including, without limitation, reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable
under the documentation governing any Indebtedness. 
 “Offering Circular” means the final offering circular, dated
September 29, 2016 relating to the offering by the Issuer of $675.0 million principal amount of 7.500% Senior Notes due 2024 and any future offering circular relating to Additional Notes. 

“Officer” means, with respect to any Person, (1) the Chairman of the Board of Directors, the Chief Executive Officer,
the President, the Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer, any Managing Director, the Secretary or any Assistant Secretary (a) of such Person or (b) if such Person is owned or managed by a
single entity, of such entity, or (2) any other individual designated as an “Officer” for the purposes of this Indenture by the Board of Directors of such Person. 

“Officer’s Certificate” means, with respect to any Person, a certificate signed by one Officer of such Person. 

“Opinion of Counsel” means a written opinion from legal counsel who is reasonably satisfactory to the Trustee. The counsel
may be an employee of or counsel to the Issuer or its Subsidiaries. 
 “Parent Entity” means any direct or indirect parent
of the Issuer. 
 “Parent Entity Expenses” means: 

(1) costs (including all professional fees and expenses) Incurred by any Parent Entity in connection with reporting obligations
under or otherwise Incurred in connection with compliance with applicable laws, rules or regulations of any governmental, regulatory or self-regulatory body or stock exchange, this Indenture or any other agreement or instrument relating to the
Notes, the Guarantees or any other Indebtedness of the Issuer or any Restricted Subsidiary, including in respect of any reports filed or delivered with respect to the Securities Act, Exchange Act or the respective rules and regulations promulgated
thereunder; 
 (2) customary indemnification obligations of any Parent Entity owing to directors, officers, employees or
other Persons under its articles, charter, by-laws, partnership agreement or other organizational documents or pursuant to written agreements with any such Person to the extent relating to the Issuer and its
Subsidiaries; 
 (3) obligations of any Parent Entity in respect of director and officer insurance (including premiums
therefor) to the extent relating to the Issuer and its Subsidiaries; 
 (4) (x) general corporate overhead expenses,
including professional fees and expenses and (y) other operational expenses of any Parent Entity related to the ownership or operation of the business of the Issuer or any of its Restricted Subsidiaries; 

  
 -26- 

 (5) expenses Incurred by any Parent Entity in connection with (i) any
offering, sale, conversion or exchange of Capital Stock or Indebtedness and (ii) any related compensation paid to officers, directors and employees of the Parent Entity; and 

(6) amounts to finance Investments that would otherwise be permitted to be made pursuant to
Section 3.3 hereof if made by the Issuer; provided, that (A) such Restricted Payment shall be made substantially concurrently with the closing of such Investment, (B) such direct or indirect parent company
shall, immediately following the closing thereof, cause (1) all property acquired (whether assets or Capital Stock) to be contributed to the capital of the Issuer or one of its Restricted Subsidiaries or (2) the merger, consolidation or
amalgamation of the Person formed or acquired into the Issuer or one of its Restricted Subsidiaries (to the extent not prohibited by Section 4.1 hereof) in order to consummate such Investment, (C) such direct or indirect
parent company and its Affiliates (other than the Issuer or a Restricted Subsidiary) receives no consideration or other payment in connection with such transaction except to the extent the Issuer or a Restricted Subsidiary could have given such
consideration or made such payment in compliance with this Indenture and such consideration or other payment is included as a Restricted Payment under this Indenture, (D) any property received by the Issuer shall not increase amounts available
for Restricted Payments pursuant to Section 3.3(a)(4)(iii)(C) and (E) such Investment shall be deemed to be made by the Issuer or such Restricted Subsidiary pursuant to another provision of the covenant described in
Section 3.3 or pursuant to the definition of “Permitted Investments.” 
 “Pari Passu
Indebtedness ” means Indebtedness of the Issuer which ranks equally in right of payment to the Notes or of any Guarantor if such Indebtedness ranks equally in right of payment to the Guarantees of the Notes. 

“Paying Agent” means any Person authorized by the Issuer to pay the principal of (and premium, if any) or interest on any
Note on behalf of the Issuer. 
 “Permitted Asset Swap” means the concurrent purchase and sale or exchange of assets used
or useful in a Similar Business or a combination of such assets and cash, Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received in excess of the value
of any cash or Cash Equivalents sold or exchanged must be applied in accordance with Section 3.5 hereof. 

“Permitted Holders” means, collectively, (1) each Sponsor, (2) any one or more Persons, together with such
Persons’ Affiliates, whose beneficial ownership constitutes or results in a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture, (3) the Management Stockholders,
(4) any Person who is acting solely as an underwriter in connection with a public or private offering of Capital Stock of any Parent Entity or the Issuer, acting in such capacity and (5) any group (within the meaning of
Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) of which any of the foregoing are members; provided that, in the case of such group and without giving effect to the existence of such group or any
other group, Persons referred to in clauses (1) through (4), collectively, have beneficial ownership of more than 50.0% of the total voting power of the Voting Stock of the Issuer or any Parent Entity held by such group. 

“Permitted Investment” means (in each case, by the Issuer or any of its Restricted Subsidiaries): 

(1) Investments in (a) a Restricted Subsidiary (including the Capital Stock of a Restricted Subsidiary) or the Issuer or
(b) a Person (including the Capital Stock of any such Person) that will, upon the making of such Investment, become a Restricted Subsidiary; 

(2) Investments in another Person if such Person is engaged in any Similar Business and as a result of such Investment such
other Person is merged, amalgamated, consolidated or otherwise combined with or into, or transfers or conveys all or substantially all its assets to, the Issuer or a Restricted Subsidiary; 

(3) Investments in cash, Cash Equivalents or Investment Grade Securities; 

  
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 (4) Investments in receivables owing to the Issuer or any Restricted Subsidiary
created or acquired in the ordinary course of business or consistent with past practice; 
 (5) Investments in payroll,
travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business or consistent with past practice; 

(6) Management Advances; 

(7) Investments received in settlement of debts created in the ordinary course of business or consistent with past practice and
owing to the Issuer or any Restricted Subsidiary or in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary, or as a result of foreclosure, perfection or enforcement of any Lien, or in
satisfaction of judgments or pursuant to any plan of reorganization or similar arrangement including upon the bankruptcy or insolvency of a debtor or otherwise with respect to any secured Investment or other transfer of title with respect to any
secured Investment in default; 
 (8) Investments made as a result of the receipt of
non-cash consideration from a sale or other disposition of property or assets, including an Asset Disposition; 

(9) Investments existing or pursuant to agreements or arrangements in effect on the Escrow Release Date and any modification,
replacement, renewal or extension thereof; provided that the amount of any such Investment may not be increased except (a) as required by the terms of such Investment as in existence on the Escrow Release Date or (b) as otherwise
permitted under this Indenture; 
 (10) Hedging Obligations, which transactions or obligations are Incurred in compliance
with Section 3.2 hereof; 
 (11) pledges or deposits with respect to leases or utilities provided
to third parties in the ordinary course of business or Liens otherwise described in the definition of “Permitted Liens” or made in connection with Liens permitted under Section 3.6 hereof; 

(12) any Investment to the extent made using Capital Stock of the Issuer (other than Disqualified Stock) or Capital Stock of
any Parent Entity as consideration; 
 (13) any transaction to the extent constituting an Investment that is permitted and
made in accordance with Section 3.8(b) hereof (except those described in Sections 3.8(b)(1), (3), (6), (7), (8), (9), (12), (14) and (25)); 

(14) Investments consisting of purchases and acquisitions of inventory, supplies, materials and equipment or licenses or leases
of intellectual property, in any case, in the ordinary course of business and in accordance with this Indenture; 
 (15) (i)
Guarantees of Indebtedness not prohibited by Section 3.2 hereof and (other than with respect to Indebtedness) guarantees, keepwells and similar arrangements in the ordinary course of business and (ii) performance
guarantees with respect to obligations that are permitted by this Indenture; 
 (16) Investments consisting of earnest money
deposits required in connection with a purchase agreement, or letter of intent, or other acquisitions to the extent not otherwise prohibited by this Indenture; 

(17) Investments of a Restricted Subsidiary acquired after the Escrow Release Date or of an entity merged or amalgamated into
the Issuer or merged or amalgamated into or consolidated with a Restricted Subsidiary after the Escrow Release Date to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, amalgamation or
consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

  
 -28- 

 (18) Investments consisting of licensing or contribution of intellectual property
pursuant to joint marketing arrangements with other Persons; 
 (19) contributions to a “rabbi” trust for the
benefit of employees or other grantor trust subject to claims of creditors in the case of a bankruptcy of the Issuer; 
 (20)
Investments in joint ventures and similar entities and Unrestricted Subsidiaries having an aggregate fair market value, when taken together with all other Investments made pursuant to this clause that are at the time outstanding, not to exceed the
greater of $100.0 million and 25.0% of LTM EBITDA at the time of such Investment (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value), plus the amount of any
returns (including dividends, payments, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such Investments (without duplication for purposes of Section 3.3
of any amounts applied pursuant to Section 3.3(a)(4)(iii)) with the fair market value of each Investment being measured at the time made and without giving effect to subsequent changes in value; provided, however,
that if any Investment pursuant to this clause is made in any Person that is not the Issuer or a Restricted Subsidiary at the date of the making of such Investment and such person becomes the Issuer or a Restricted Subsidiary after such date, such
Investment shall thereafter be deemed to have been made pursuant to clause (1) or (2) above and shall cease to have been made pursuant to this clause for so long as such Person continues to be the Issuer or a Restricted Subsidiary; 

(21) additional Investments having an aggregate fair market value, taken together with all other Investments made pursuant to
this clause (21) that are at that time outstanding, not to exceed the greater of $200.0 million and 50.0% of LTM EBITDA (with the fair market value of each Investment being measured at the time made and without giving effect to subsequent
changes in value), plus the amount of any returns (including dividends, payments, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such Investments (without duplication for
purposes of Section 3.3 of any amounts applied pursuant to Section 3.3(a)(4)(iii)) with the fair market value of each Investment being measured at the time made and without giving effect to
subsequent changes in value; provided, however, that if any Investment pursuant to this clause is made in any Person that is not the Issuer or a Restricted Subsidiary at the date of the making of such Investment and such person becomes the Issuer or
a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) or (2) above and shall cease to have been made pursuant for so long as such Person continues to be the Issuer or a
Restricted Subsidiary; 
 (22) any Investment in a Similar Business having an aggregate fair market value, taken together
with all other Investments made pursuant to this clause that are at that time outstanding, not to exceed the greater of $100.0 million and 25.0% of LTM EBITDA (with the fair market value of each Investment being measured at the time made and
without giving effect to subsequent changes in value), plus the amount of any returns (including dividends, payments, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) in respect of such
Investments (without duplication for purposes of Section 3.3 of any amounts applied pursuant to Section 3.3(a)(4)(iii)) with the fair market value of each Investment being measured at the time made
and without giving effect to subsequent changes in value; provided, however, that if any Investment pursuant to this clause is made in any Person that is not the Issuer or a Restricted Subsidiary at the date of the making of such Investment and such
person becomes the Issuer or a Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) or (2) above and shall cease to have been made pursuant to this clause for so long as such
Person continues to be the Issuer or a Restricted Subsidiary; 
 (23) Investments relating to a Receivables Subsidiary that,
in the good faith determination of the Issuer, are necessary or advisable to effect any Receivables Facility or any repurchase in connection therewith; 

(24) Investments in connection with the Transactions; 

(25) repurchases of Notes; 

  
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 (26) Investments by an Unrestricted Subsidiary entered into prior to the day such
Unrestricted Subsidiary is redesignated as a Restricted Subsidiary as described under Section 3.20; 

(27) Investments consisting of purchases and acquisitions of assets or services in the ordinary course of business or
consistent with past practice or made in the ordinary course of business or consistent with past practice in connection with obtaining, maintaining or renewing client contacts and loans or advances made to distributors in the ordinary course of
business; 
 (28) Investments in prepaid expenses, negotiable instruments held for collection and lease, utility and workers
compensation, performance and similar deposits entered into as a result of the operations of the business in the ordinary course of business or consistent with past practice; 

(29) Investments in the ordinary course of business consisting of Uniform Commercial Code Article 3 endorsements for collection
of deposit and Article 4 customary trade arrangements with customers consistent with past practices; 
 (30) any other
Investment so long as, immediately after giving pro forma effect to the Investment and the Incurrence of any Indebtedness the net proceeds of which are used to make such Investment, the Consolidated Total Leverage Ratio shall be no greater than 5.50
to 1.00; and 
 (31) transactions entered into in order to consummate a Permitted Tax Restructuring. 

“Permitted Liens” means, with respect to any Person: 

(1) Liens on assets or property of a Restricted Subsidiary that is not a Co-Issuer or
Guarantor securing Indebtedness of any Restricted Subsidiary that is not a Co-Issuer or Guarantor; 

(2) pledges, deposits or Liens under workmen’s compensation laws, payroll taxes, unemployment insurance laws, social
security laws or similar legislation, or insurance related obligations (including pledges or deposits securing liability to insurance carriers under insurance or self-insurance arrangements), or in connection with bids, tenders, completion
guarantees, contracts (other than for borrowed money) or leases, or to secure utilities, licenses, public or statutory obligations, or to secure the performance of bids, trade contracts, government contracts and leases, statutory obligations,
surety, stay, indemnity, judgment, customs, appeal or performance bonds, guarantees of government contracts, return-of-money bonds, bankers’ acceptance facilities
(or other similar bonds, instruments or obligations), obligations in respect of letters of credit, bank guarantees or similar instruments that have been posted to support the same, or as security for contested taxes or import or customs duties or
for the payment of rent, or other obligations of like nature, in each case Incurred in the ordinary course of business or consistent with past practice; 

(3) Liens with respect to outstanding motor vehicle fines and Liens imposed by law, including carriers’,
warehousemen’s, mechanics’, landlords’, materialmen’s, repairmen’s, construction contractors’ or other like Liens, in each case for sums not yet overdue for a period of more than 60 days or that are bonded or being
contested in good faith by appropriate proceedings; 
 (4) Liens for Taxes, assessments or governmental charges which are not
overdue for a period of more than 30 days or which are being contested in good faith by appropriate proceedings; provided that appropriate reserves required pursuant to GAAP (or other applicable accounting principles) have been made in
respect thereof; 
 (5) encumbrances, charges, ground leases, easements (including reciprocal easement agreements), survey
exceptions, restrictions, encroachments, protrusions, by-law, regulation, zoning restrictions or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines, telegraph and
telephone lines and other similar purposes, or zoning, building codes or other restrictions (including minor defects or irregularities in title and similar encumbrances) as to the use of real properties

  
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or Liens incidental to the conduct of the business of the Issuer and its Restricted Subsidiaries or to the ownership of their properties, including servicing agreements, development agreements,
site plan agreements, subdivision agreements, facilities sharing agreements, cost sharing agreements and other agreements, which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the
operation of the business of the Issuer and its Restricted Subsidiaries; 
 (6) Liens (a) on assets or property of the
Issuer or any Restricted Subsidiary securing Hedging Obligations or Cash Management Services permitted under this Indenture; (b) that are contractual rights of set-off or, in the case of clause
(i) or (ii) below, other bankers’ Liens (i) relating to treasury, depository and cash management services or any automated clearing house transfers of funds in the ordinary course of business and not given in connection with the
issuance of Indebtedness, (ii) relating to pooled deposit or sweep accounts to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer or any Subsidiary or (iii) relating to
purchase orders and other agreements entered into with customers of the Issuer or any Restricted Subsidiary in the ordinary course of business; (c) on cash accounts securing Indebtedness incurred under
Section 3.2(b)(8)(iii) with financial institutions; (d) encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to commodity trading accounts or other brokerage accounts
incurred in the ordinary course of business, consistent with past practice and not for speculative purposes; and/or (e) (i) of a collection bank arising under Section 4-210 of the UCC on items in the
course of collection and (ii) in favor of a banking institution arising as a matter of law encumbering deposits (including the right of set-off) arising in the ordinary course of business in connection
with the maintenance of such accounts and (iii) arising under customary general terms of the account bank in relation to any bank account maintained with such bank and attaching only to such account and the products and proceeds thereof, which
Liens, in any event, do not secure any Indebtedness; 
 (7) leases, licenses, subleases and sublicenses of assets (including
real property and intellectual property rights), in each case entered into in the ordinary course of business; 
 (8) Liens
securing or otherwise arising out of judgments, decrees, attachments, orders or awards not giving rise to an Event of Default so long as (a) any appropriate legal proceedings which may have been duly initiated for the review of such judgment,
decree, order or award have not been finally terminated, (b) the period within which such proceedings may be initiated has not expired or (c) no more than 60 days have passed after (i) such judgment, decree, order or award has become
final or (ii) such period within which such proceedings may be initiated has expired; 
 (9) Liens (i) on assets or
property of the Issuer or any Restricted Subsidiary for the purpose of securing Capitalized Lease Obligations or Purchase Money Obligations, or securing the payment of all or a part of the purchase price of, or securing other Indebtedness Incurred
to finance or refinance the acquisition, improvement or construction of, assets or property acquired or constructed in the ordinary course of business; provided that (a) the aggregate principal amount of Indebtedness secured by such Liens is
otherwise permitted to be Incurred under this Indenture and (b) any such Liens may not extend to any assets or property of the Issuer or any Restricted Subsidiary other than assets or property acquired, improved, constructed or leased with the
proceeds of such Indebtedness and any improvements or accessions to such assets and property and (ii) on any interest or title of a lessor under any Capitalized Lease Obligations or operating lease; 

(10) Liens perfected or evidenced by UCC financing statement filings, including precautionary UCC financing statements (or
similar filings in other applicable jurisdictions) regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; 

(11) Liens existing on the Escrow Release Date, excluding Liens securing the Credit Agreements; 

(12) Liens on property, other assets or shares of stock of a Person at the time such Person becomes a Restricted Subsidiary (or
at the time the Issuer or a Restricted Subsidiary acquires such property, other assets or shares of stock, including any acquisition by means of a merger, amalgamation, 

  
 -31- 

 
consolidation or other business combination transaction with or into the Issuer or any Restricted Subsidiary); provided, however, that such Liens are not created, Incurred or assumed in
anticipation of or in connection with such other Person becoming a Restricted Subsidiary (or such acquisition of such property, other assets or stock); provided, further, that such Liens are limited to all or part of the same property, other assets
or stock (plus improvements, accession, proceeds or dividends or distributions in connection with the original property, other assets or stock) that secured (or, under the written arrangements under which such Liens arose, could secure) the
obligations to which such Liens relate; 
 (13) Liens on assets or property of the Issuer or any Restricted Subsidiary
securing Indebtedness or other obligations of the Issuer or such Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary, or Liens in favor of the Issuer or any Restricted Subsidiary; 

(14) Liens securing Refinancing Indebtedness Incurred to refinance Indebtedness that was previously so secured, and permitted
to be secured under this Indenture; 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 Indebtedness being refinanced or is in respect of property that is or could be the security for or subject to a Permitted Lien hereunder; 

(15) (a) mortgages, liens, security interests, restrictions, encumbrances or any other matters of record that have been placed
by any government, statutory or regulatory authority, developer, landlord or other third party on property over which the Issuer or any Restricted Subsidiary has easement rights or on any leased property and subordination or similar arrangements
relating thereto and (b) any condemnation or eminent domain proceedings affecting any real property; 
 (16) any
encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement; 

(17) Liens on property or assets under construction (and related rights) in favor of a contractor or developer or arising from
progress or partial payments by a third party relating to such property or assets; 
 (18) 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; 

(19) Liens to secure Obligations in respect of Indebtedness permitted to be Incurred pursuant to
Section 3.2(b)(1); 
 (20) Liens to secure Indebtedness permitted by
Section 3.2(b)(5); provided that such Liens shall only be permitted if (x) such Liens are limited to all or part of the same property or assets, including Capital Stock (plus improvements, accessions, proceeds
or dividends or distributions in respect thereof, or replacements of any thereof) acquired, or of any Person acquired or merged, consolidated or amalgamated with or into the Issuer or any Restricted Subsidiary, in any transaction to which such
Indebtedness relates or (y) on the date of the Incurrence of such Indebtedness after giving effect to such Incurrence, the Consolidated Secured Leverage Ratio would equal or be less than the Consolidated Secured Leverage Ratio immediately prior
to giving effect thereto; 
 (21) Liens to secure Obligations in respect of any Indebtedness permitted by
Section 3.2(b)(7), (10), (14), (17) and (19) (provided that, in the case of clauses (17) and (19), such Liens are limited to all or part of the asset and equipment, respectively, acquired
with the proceeds of such Indebtedness); 
 (22) Liens to secure Indebtedness of any
Non-Guarantor covering only the assets of such Subsidiary; 

  
 -32- 

 (23) Liens on Capital Stock or other securities or assets of any Unrestricted
Subsidiary that secure Indebtedness of such Unrestricted Subsidiary; 
 (24) any security granted over the marketable
securities portfolio described in clause (19) of the definition of “Cash Equivalents” in connection with the disposal thereof to a third party; 

(25) Liens on (i) goods the purchase price of which is financed by a documentary letter of credit issued for the account
of the Issuer or any Restricted Subsidiary or Liens on bills of lading, drafts or other documents of title arising by operation of law or pursuant to the standard terms of agreements relating to letters of credit, bank guarantees and other similar
instruments and (ii) specific items of inventory of other goods and proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the
purchase, shipment or storage of such inventory or other goods; 
 (26) Liens on equipment of the Issuer or any Restricted
Subsidiary and located on the premises of any client or supplier in the ordinary course of business; 
 (27) Liens on assets
or securities deemed to arise in connection with and solely as a result of the execution, delivery or performance of contracts to sell such assets or securities if such sale is otherwise permitted by this Indenture; 

(28) Liens arising by operation of law or contract on insurance policies and the proceeds thereof to secure premiums
thereunder, and Liens, pledges and deposits in the ordinary course of business securing liability for premiums or reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the
benefits of) insurance carriers; 
 (29) Liens solely on any cash earnest money deposits made in connection with any letter
of intent or purchase agreement permitted under this Indenture; 
 (30) Liens (i) on cash advances in favor of the
seller of any property to be acquired in an Investment permitted pursuant to Permitted Investments to be applied against the purchase price for such Investment, and (ii) consisting of an agreement to sell any property in an asset sale permitted
under Section 3.5, in each case, solely to the extent such Investment or asset sale, as the case may be, would have been permitted on the date of the creation of such Lien; 

(31) Liens securing Indebtedness and other obligations in an aggregate principal amount not to exceed the greater of
$150.0 million and 40.0% of LTM EBITDA at any one time outstanding; 
 (32) Liens then existing with respect to assets
of an Unrestricted Subsidiary on the day such Unrestricted Subsidiary is redesignated as a Restricted Subsidiary pursuant to Section 3.20; 

(33) Liens Incurred to secure Obligations in respect of any Indebtedness permitted to be Incurred pursuant to the covenant
described under Section 3.2; provided that with respect to liens securing obligations permitted under this clause, at the time of Incurrence and after giving pro forma effect thereto, the Consolidated Secured
Leverage Ratio would be no greater than 5.00 to 1.00; 
 (34) Liens deemed to exist in connection with Investments in
repurchase agreements permitted under Section 3.2 provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement; 

(35) Liens on accounts receivable and related assets incurred in connection with a Receivables Facility; 

(36) Settlement Liens; 

  
 -33- 

 (37) rights of recapture of unused real property in favor of the seller of such
property set forth in customary purchase agreements and related arrangements with any government, statutory or regulatory authority; 

(38) the rights reserved to or vested in any Person or government, statutory or regulatory authority by the terms of any lease,
license, franchise, grant or permit held by the Issuer or any Restricted Subsidiary or by a statutory provision, to terminate any such lease, license, franchise, grant or permit, or to require annual or periodic payments as a condition to the
continuance thereof; 
 (39) restrictive covenants affecting the use to which real property may be put; 

(40) Liens or covenants restricting or prohibiting access to or from lands abutting on controlled access highways or covenants
affecting the use to which lands may be put; provided that such Liens or covenants do not interfere with the ordinary conduct of the business of the Issuer or any Restricted Subsidiary; or 

(41) Liens arising in connection with any Permitted Tax Restructuring. 

In the event that a Permitted Lien meets the criteria of more than one of the types of Permitted Liens (at the time of incurrence or at a
later date), the Issuer in its sole discretion may divide, classify or from time to time reclassify all or any portion of such Permitted Lien in any manner that complies with Section 3.6 hereof and such Permitted Lien shall
be treated as having been made pursuant only to the clause or clauses of the definition of “Permitted Lien” to which such Permitted Lien has been classified or reclassified. 

“Permitted Tax Distribution” means: 

(a) if and for so long as the Issuer is a member of a group filing a consolidated or combined tax return with any Parent
Entity, any dividends or other distributions to fund any income Taxes for which such Parent Entity is liable up to an amount not to exceed with respect to such Taxes the amount of any such Taxes that the Issuer and its Subsidiaries would have been
required to pay on a separate company basis or on a consolidated basis calculated as if the Issuer and its Subsidiaries had paid Tax on a consolidated, combined, group, affiliated or unitary basis on behalf of an affiliated group consisting only of
the Issuer and its Subsidiaries; and 
 (b) for any taxable year (or portion thereof) ending after the Issue Date for which
the Issuer is treated as a disregarded entity, partnership, or other flow-through entity for federal, state, provincial, territorial, and/or local income Tax purposes, the payment of dividends or other distributions to the Issuer’s direct
owner(s) to fund the income Tax liability of such owner(s) (or, if a direct owner is a pass-through entity, of the indirect owner(s)) for such taxable year (or portion thereof) attributable to the operations and activities of the Issuer and its
direct and indirect Subsidiaries, in an aggregate amount not the exceed the product of (x) the highest combined marginal federal and applicable state, provincial, territorial, and/or local statutory income Tax rate (after taking into account
the deductibility of U.S. state and local income Tax for U.S. federal income Tax purposes) and (y) the taxable income of the Issuer for such taxable year (or portion thereof). 

“Permitted Tax Restructuring” means any reorganizations and other activities related to tax planning and tax reorganization
(as determined by the Issuer in good faith) entered into prior to, on or after the date hereof so long as such Permitted Tax Restructuring is not materially adverse to the Holders. 

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

  
 -34- 

 “Post-Petition Interest” means any interest or entitlement to fees or expenses
or other charges that accrue after the commencement of any bankruptcy or insolvency proceeding, whether or not allowed or allowable as a claim in any such bankruptcy or insolvency proceeding. 

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 2.11 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed
to evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
 “Preferred Stock,” as applied to the Capital
Stock of any Person, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person,
over shares of Capital Stock of any other class of such Person. 
 “Public Company Costs” means, as to any Person, costs
associated with, or in anticipation of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and costs relating to compliance with the provisions of
the Securities Act and the Exchange Act or any other comparable body of laws, rules or regulations, as companies with listed equity, directors’ compensation, fees and expense reimbursement, costs relating to investor relations, shareholder
meetings and reports to shareholders, directors’ and officers’ insurance and other executive costs, legal and other professional fees, and listing fees, in each case to the extent arising solely by virtue of the listing of such
Person’s equity securities on a national securities exchange. 
 “Purchase Money Obligations” means any Indebtedness
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 any
“qualified institutional buyer” as such term is defined in Rule 144A. 
 “Receivables Facility” means any of one
or more receivables financing facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the Obligations of which are non-recourse (except for customary
representations, warranties, covenants and indemnities made in connection with such facilities) to the Issuer or any of its Restricted Subsidiaries (other than a Receivables Subsidiary) pursuant to which the Issuer or any of its Restricted
Subsidiaries sells its accounts receivable to either (a) a Person that is not a Restricted Subsidiary or (b) a Receivables Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary. 

“Receivables Fees” means distributions or payments made directly or by means of discounts with respect to any accounts
receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. 

“Receivables Subsidiary” means any Subsidiary formed for the purpose of, and that solely engages only in one or more
Receivables Facilities and other activities reasonably related thereto. 
 “Refinance” means refinance, refund, replace,
renew, repay, modify, restate, defer, substitute, supplement, reissue, resell, extend or increase (including pursuant to any defeasance or discharge mechanism) and the terms “refinances,” “refinanced” and
“refinancing” as used for any purpose in this Indenture shall have a correlative meaning. 
 “Refinancing
Indebtedness” means Indebtedness that is Incurred to refund, refinance, replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge mechanism) any Indebtedness existing on the Escrow Release Date or Incurred
in compliance with this Indenture (including Indebtedness of the Issuer that refinances Indebtedness of any Restricted Subsidiary and Indebtedness of any Restricted Subsidiary that refinances Indebtedness of the Issuer or another Restricted
Subsidiary) including Indebtedness that refinances Refinancing Indebtedness; provided, however, that: 

  
 -35- 

 (1) (a) such Refinancing Indebtedness has a Weighted Average Life to Maturity at
the time such Refinancing Indebtedness is Incurred which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded or refinanced; and (b) to the extent such Refinancing
Indebtedness refinances Subordinated Indebtedness, Disqualified Stock or Preferred Stock, such Refinancing Indebtedness is Subordinated Indebtedness, Disqualified Stock or Preferred Stock, respectively, and, in the case of Subordinated Indebtedness,
is subordinated to the Notes on terms at least as favorable to the Holders as those contained in the documentation governing the Indebtedness being refinanced; 

(2) Refinancing Indebtedness shall not include: 

(i) Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary of the Issuer that is not the Issuer, a Co-Issuer or a Guarantor that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Issuer, a Co-Issuer or a Guarantor; or 

(ii) Indebtedness, Disqualified Stock or Preferred Stock of the Issuer or a Restricted Subsidiary that refinances Indebtedness,
Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary; and 
 (3) such Refinancing Indebtedness has an
aggregate principal amount (or if Incurred with original issue discount, an aggregate issue price) that is equal to or less than the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then
outstanding (plus fees and expenses, including any premium and defeasance costs) under the Indebtedness being Refinanced. 
 Refinancing
Indebtedness in respect of any Credit Facility or any other Indebtedness may be Incurred from time to time after the termination, discharge or repayment of any such Credit Facility or other Indebtedness. 

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

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

(1) any Taxes, including sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise,
license, capital, registration, business, customs, net worth, gross receipts, excise, occupancy, intangibles or similar Taxes and other similar fees and expenses (other than (x) Taxes measured by income and (y) withholding Taxes), required
to be paid (provided such Taxes are in fact paid) by any Parent Entity by virtue of its: 
 (a) being organized or
having Capital Stock outstanding (but not by virtue of owning stock or other equity interests of any corporation or other entity other than, directly or indirectly, the Issuer or any of the Issuer’s Subsidiaries) otherwise maintain its
existence or good standing under applicable law; 
 (b) being a holding company parent, directly or indirectly, of the Issuer
or any of the Issuer’s Subsidiaries; 
 (c) receiving dividends from or other distributions in respect of the Capital
Stock of, directly or indirectly, the Issuer or any of the Issuer’s Subsidiaries; or 
 (d) having made any payment in
respect to any of the items for which the Issuer is permitted to make payments to any Parent Entity pursuant to Section 3.3; or 

  
 -36- 

 (2) any Permitted Tax Distribution. 

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

“Restricted Notes” means Initial Notes and Additional Notes bearing the restrictive legend described in
Section 2.1(d)(1). 
 “Restricted Notes Legend” means the legend set forth in
Section 2.1(d)(1). 
 “Restricted Subsidiary” means any Subsidiary of the Issuer other than an
Unrestricted Subsidiary. 
 “Reversion Date” means, during any period of time during which the Issuer and the Restricted
Subsidiaries are not subject to Sections 3.2, 3.3, 3.4, 3.5, 3.7, 3.8 and 4.1(a)(3) (collectively, the “Suspended Covenants”) as a result of a Covenant Suspension, the date on which
the Notes cease to have Investment Grade Status, and after which date the Suspended Covenants will thereafter be reinstated as if such covenants had never been suspended and such Suspended Covenants will be applicable pursuant to the terms of this
Indenture (including in connection with performing any calculation or assessment to determine compliance with the terms of this Indenture). 

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

“S&P” means Standard & Poor’s Investors Ratings Services or any of its successors or assigns that is a
Nationally Recognized Statistical Rating Organization. 
 “Sale and Leaseback Transaction” means any arrangement providing
for the leasing by the Issuer or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Issuer or such Restricted Subsidiary to a third Person in contemplation of
such leasing. 
 “SEC” means the U.S. Securities and Exchange Commission or any successor thereto. 

“Secured Indebtedness” means any Indebtedness secured by a Lien, other than Indebtedness with respect to Cash Management
Services. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC
promulgated thereunder, as amended. 
 “Settlement” means the transfer of cash or other property with respect to any credit
or debit card charge, check or other instrument, electronic funds transfer, or other type of paper-based or electronic payment, transfer, or charge transaction for which a Person acts as a processor, remitter, funds recipient or funds transmitter in
the ordinary course of its business. 
 “Settlement Asset” means any cash, receivable or other property, including a
Settlement Receivable, due or conveyed to a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person or an Affiliate of such Person. 

“Settlement Indebtedness” means any payment or reimbursement obligation in respect of a Settlement Payment. 

“Settlement Lien” means any Lien relating to any Settlement or Settlement Indebtedness (and may include, for the avoidance of
doubt, the grant of a Lien in or other assignment of a Settlement Asset in consideration of a Settlement Payment, Liens securing intraday and overnight overdraft and automated clearing house exposure, and similar Liens). 

“Settlement Payment” means the transfer, or contractual undertaking (including by automated clearing house transaction) to
effect a transfer, of cash or other property to effect a Settlement. 

  
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 “Settlement Receivable” means any general intangible, payment intangible, or
instrument representing or reflecting an obligation to make payments to or for the benefit of a Person in consideration for a Settlement made or arranged, or to be made or arranged, by such Person. 

“Significant Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in
Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the Issue Date. 

“Similar Business” means (a) any businesses, services or activities engaged in by the Issuer or any of its Subsidiaries
or any Associates on the Escrow Release Date and (b) any businesses, services and activities engaged in by the Issuer or any of its Subsidiaries or any Associates that are related, complementary, incidental, ancillary or similar to any of the
foregoing or are extensions or developments of any thereof. 
 “Sponsor” means each of Advent International Corporation and
Thomas H. Lee Partners L.P. and each of their Affiliates, including any funds, partnerships or other investment vehicles or Subsidiaries managed or directly or indirectly controlled by either of them but not including, however, any portfolio
companies of any of the foregoing. 
 “Stated Maturity” means, with respect to any security, the date specified in such
security as the fixed date on which the payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent obligations to repay, redeem or repurchase any such
principal prior to the date originally scheduled for the payment thereof. 
 “Subordinated Indebtedness ” means, with
respect to any person, any Indebtedness (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinated in right of payment to the Notes pursuant to a written agreement. 

“Subsidiary” means, with respect to any Person: 

(1) any corporation, association, or other business entity (other than a partnership, joint venture, limited liability company
or similar entity) of which more than 50.0% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time of
determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; or 

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

(a) more than 50.0% of the capital accounts, distribution rights, total equity and voting interests or general or limited
partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited
partnership interests or otherwise; and 
 (b) such Person or any Subsidiary of such Person is a controlling general partner
or otherwise controls such entity. 
 “Taxes” means all present and future taxes, levies, imposts, deductions, charges,
duties and withholdings and any charges of a similar nature (including interest, penalties and other liabilities with respect thereto) that are imposed by any government or other taxing authority. 

“Term Loan Credit Agreement” means the credit facility to be entered into by and among the Issuer, the other borrowers
thereto, the guarantors from time to time party thereto, Goldman Sachs Bank USA, as administrative agent and collateral agent, and each lender from time to time party thereto, together with the related documents thereto (including the loans
thereunder, any letters of credit and reimbursement obligations related thereto, any Guarantees and security documents), as amended, extended, renewed, restated, refunded, replaced, 

  
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refinanced, supplemented, modified or otherwise changed (in whole or in part, and without limitation as to amount, terms, conditions, covenants and other provisions) from time to time, and any
one or more agreements (and related documents) governing Indebtedness, including indentures, incurred to refinance, substitute, supplement, replace or add to (including increasing the amount available for borrowing or adding or removing any Person
as a borrower, issuer or guarantor thereunder, in whole or in part), the borrowings and commitments then outstanding or permitted to be outstanding under such Term Loan Credit Agreement or one or more successors to the Term Loan Credit Agreement or
one or more new credit agreements. 
 “TIA” means the Trust Indenture Act of 1939, as amended. 

“Total Assets” means, as of any date, the total consolidated assets of the Issuer and its Restricted Subsidiaries on a
consolidated basis, as shown on the most recent consolidated balance sheet of the Issuer and its Restricted Subsidiaries, determined on a pro forma basis in a manner consistent with the pro forma basis contained in the definition of
“Fixed Charge Coverage Ratio.” 
 “Transaction Expenses” means any fees or expenses incurred or paid by the
Issuer or any Restricted Subsidiary in connection with the Transactions, including, without limitation, any fees, costs and expenses associated with settling any claims or actions arising from a dissenting stockholder exercising its appraisal
rights. 
 “Transactions” means the transactions contemplated by the Acquisition Agreement, the issuance of the Notes,
borrowings under the Credit Agreements and other related transactions, in each case, as described in the Offering Circular. 

“Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the
Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time
shall be such officers, respectively, or to whom any corporate trust matter relating to this Indenture is referred because of such Person’s knowledge of and familiarity with the particular subject and who, in each case, shall have direct
responsibility for the administration of this Indenture. 
 “Trustee” means Wilmington Trust, National Association,
together with its successors and assigns. 
 “UCC” means the Uniform Commercial Code as in effect from time to time in the
State of New York; provided, however, that at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of a collateral agent’s security interest in any item or portion of the
collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for
purposes of the provisions hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. 

“Unrestricted Subsidiary” means: 

(1) any Subsidiary (other than the Issuer or any direct or indirect parent entity of the Issuer) of the Issuer that at the time
of determination is an Unrestricted Subsidiary (as designated by the Issuer in the manner provided below); and 
 (2) any
Subsidiary of an Unrestricted Subsidiary. 
 The Issuer may designate any Subsidiary of the Issuer, respectively (including any newly acquired or newly
formed Subsidiary or a Person becoming a Subsidiary through merger, consolidation or other business combination transaction, or Investment therein), to be an Unrestricted Subsidiary only if: 

(1) such Subsidiary or any of its Subsidiaries does not own any Capital Stock or Indebtedness of, or own or hold any Lien on
any property of, the Issuer or any other Subsidiary of the Issuer which is not a Subsidiary of the Subsidiary to be so designated or otherwise an Unrestricted Subsidiary; and 

  
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 (2) such designation and the Investment of the Issuer in such Subsidiary complies
with Section 3.3 hereof. 
 “U.S. dollars” or “$” means the lawful currency of
the United States of America. 
 “U.S. Government Obligations” means securities that are (1) direct obligations of the
United States of America for the timely payment of which its full faith and credit is pledged or (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely
payment of which is unconditionally Guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of the issuers thereof, and shall also include a depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by
such custodian for the account of the holder of such depositary receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from
any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary receipt. 

“Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled to vote
in the election of directors. 
 “Weighted Average Life to Maturity” means, when applied to any Indebtedness, Disqualified
Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: 
 (1) the sum of the products
of the number of years from the date of determination to the date of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the
amount of such payment, by 
 (2) the sum of all such payments. 

“Wholly Owned Domestic Subsidiary” means a Domestic Subsidiary of the Issuer, all of the Capital Stock of which is owned by
the Issuer, a Co-Issuer or a Guarantor. 
 SECTION 1.2. Other Definitions. 

 

			
	 Term
	  	 Defined in Section

	 “Acceptable Commitment”
	  	3.5(a)(3)(ii)
	 “Additional Restricted Notes”
	  	2.1(b)
	 “Affiliate Transaction”
	  	3.8(a)
	 “Agent Members”
	  	2.1(e)(2)
	 “Approved Foreign Bank”
	  	“Cash Equivalents”
	 “Asset Disposition Offer”
	  	3.5(b)
	 “Authenticating Agent”
	  	2.2
	 “Automatic Exchange”
	  	2.6(e)

  
 -40- 

			
	 Term
	  	 Defined in Section

	 “Automatic Exchange Date”
	  	2.6(e)
	 “Automatic Exchange Notice”
	  	2.6(e)
	 “Automatic Exchange Notice Date”
	  	2.6(e)
	 “Change of Control Offer”
	  	3.9(a)
	 “Change of Control Payment”
	  	3.9(a)
	 “Change of Control Payment Date”
	  	3.9(a)(2)
	 “Clearstream”
	  	2.1(b)
	 “Covenant Defeasance”
	  	8.3
	 “Defaulted Interest”
	  	2.15
	 “Euroclear”
	  	2.1(b)
	 “Event of Default”
	  	6.1(a)
	 “Excess Proceeds”
	  	3.5(b)
	 “Foreign Disposition”
	  	3.5(d)(i)
	 “Global Notes”
	  	2.1(b)
	 “Guaranteed Obligations”
	  	10.1
	 “Increased Amount”
	  	3.6
	 “Initial Default”
	  	6.1(b)
	 “Initial Lien”
	  	3.6
	 “Issuer Order”
	  	2.2
	 “Legal Defeasance”
	  	8.2
	 “Legal Holiday”
	  	13.6
	 “Notes Register”
	  	2.3
	 “Other Guarantee”
	  	10.2(b)(5)
	 “protected purchaser”
	  	2.11
	 “Redemption Date”
	  	5.7(a)

  
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	 Term
	  	 Defined in Section

	 “Registrar”
	  	2.3
	 “Regulation S Global Note”
	  	2.1(b)
	 “Regulation S Notes”
	  	2.1(b)
	 “Resale Restriction Termination Date”
	  	2.6(b)
	 “Reserved Indebtedness Amount”
	  	3.2(c)(9)
	 “Restricted Global Note”
	  	2.6(e)
	 “Restricted Payments”
	  	3.3(a)
	 “Restricted Period”
	  	2.1(b)
	 “Rule 144A Global Note”
	  	2.1(b)
	 “Rule 144A Notes”
	  	2.1(b)
	 “Second Commitment”
	  	3.5(a)(3)(ii)
	 “Special Interest Payment Date”
	  	2.15(a)
	 “Special Mandatory Redemption”
	  	5.9(a)
	 “Special Mandatory Redemption Date”
	  	5.9(a)
	 “Special Mandatory Redemption Event”
	  	5.9(a)
	 “Special Mandatory Redemption Price”
	  	5.9(a)
	 “Special Record Date”
	  	2.15(a)
	 “Successor Company”
	  	4.1(a)(1)
	 “Suspension Period”
	  	3.21
	 “Topic 810”
	  	“Consolidated EBITDA”
	 “Unrestricted Global Note”
	  	2.6(e)

 SECTION 1.3. [Reserved]. 

SECTION 1.4. Rules of Construction. 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 GAAP; 
 (3) “or” is not exclusive; 

(4) “including” means including without limitation; 

(5) words in the singular include the plural and words in the plural include the singular; 

(6) “will” shall be interpreted to express a command; 

(7) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 

(8) the principal amount of any preferred stock shall be (i) the maximum liquidation value of such preferred stock or
(ii) the maximum mandatory redemption or mandatory repurchase price with respect to such preferred stock, whichever is greater; 

(9) all amounts expressed in this Indenture or in any of the Notes in terms of money refer to the lawful currency of the United
States of America; 
 (10) the words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; and 

(11) unless otherwise specifically indicated, the term “consolidated” with respect to any Person refers to such
Person consolidated with its Restricted Subsidiaries, and excludes from such consolidation any Unrestricted Subsidiary as if such Unrestricted Subsidiary were not an Affiliate of such Person. 

ARTICLE II 
 THE NOTES 

SECTION 2.1. Form, Dating and Terms. 

(a) The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Initial Notes issued
on the date hereof will be in an aggregate principal amount of $675,000,000. In addition, the Issuers may issue, from time to time in accordance with the provisions of this Indenture, Additional Notes (as provided herein). Furthermore, Notes may be
authenticated and delivered upon registration of transfer, exchange or in lieu of, other Notes pursuant to Sections 2.2, 2.6, 2.11, 2.13, 5.6 or 9.5, in connection with an Asset Disposition Offer pursuant to
Section 3.5 or in connection with a Change of Control Offer pursuant to Section 3.9. 

Notwithstanding anything to the contrary contained herein, the Issuers may not issue any Additional Notes, unless such issuance is in
compliance with Section 3.2. 
 With respect to any Additional Notes, the Issuer shall set forth in (1) a
Board Resolution and (2) (i) an Officer’s Certificate and (ii) one or more indentures supplemental hereto, the following information: 

(A) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; 

(B) the issue price and the issue date of such Additional Notes, including the date from which interest shall accrue; and 

(C) whether such Additional Notes shall be Restricted Notes. 

  
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 In authenticating and delivering Additional Notes, the Trustee shall be entitled to receive and
shall be fully protected in relying upon, in addition to the Opinion of Counsel and Officer’s Certificate required by Section 13.2, an Opinion of Counsel as to the due authorization, execution, delivery, validity and
enforceability of such Additional Notes. 
 The Initial Notes and the Additional Notes shall be considered collectively as a single class
for all purposes of this Indenture. Holders of the Initial Notes and the Additional Notes will vote and consent together on all matters to which such Holders are entitled to vote or consent as one class, and none of the Holders of the Initial Notes
or the Additional Notes shall have the right to vote or consent as a separate class on any matter to which such Holders are entitled to vote or consent. 

If any of the terms of any Additional Notes are established by action taken pursuant to a Board Resolution of the Issuer, a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate and the indenture supplemental hereto setting
forth the terms of the Additional Notes. 
 (b) The Initial Notes are being offered and sold by the Issuer pursuant to a Purchase Agreement,
dated September 29, 2016, among the Issuer and Credit Suisse Securities (USA) LLC, as representative for the several Initial Purchasers. The Initial Notes and any Additional Notes (if issued as Restricted Notes) (the “Additional
Restricted Notes”) will be resold initially only to (A) Persons they reasonably believe to be QIBs in reliance on Rule 144A and (B) Non-U.S. Persons in reliance on Regulation S. Such Initial
Notes and Additional Restricted Notes may thereafter be transferred to, among others, QIBs and purchasers in reliance on Regulation S, in each case, in accordance with the procedure described herein. Additional Notes offered after the date hereof
may be offered and sold by the Issuers from time to time pursuant to one or more purchase agreements in accordance with applicable law. 

Initial Notes and Additional Restricted Notes offered and sold to QIBs in the United States of America in reliance on Rule 144A (the
“Rule 144A Notes”) shall be issued in the form of a permanent global Note substantially in the form of Exhibit A, which is hereby incorporated by reference and made a part of this Indenture, including appropriate legends as
set forth in Section 2.1(d) (the “Rule 144A Global Note”), deposited with the Trustee, as custodian for DTC, duly executed by the Issuer and authenticated by the Trustee as hereinafter provided. The Rule
144A Global Note may be represented by more than one certificate if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Rule 144A Global Note may
from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 

Initial Notes and any Additional Restricted Notes offered and sold to non-U.S. Persons outside the
United States of America (the “Regulation S Notes”) in reliance on Regulation S shall be issued in the form of a permanent global Note substantially in the form of Exhibit A including appropriate legends as set forth in
Section 2.1(d) (the “Regulation S Global Note”). Each Regulation S Global Note will be deposited upon issuance with, or on behalf of, the Trustee as custodian for DTC in the manner described in this
Article II. Prior to the 40th day after the later of the commencement of the offering of the Initial Notes and the Issue Date (such period through and including such 40th day, the “Restricted Period”), interests in the
Regulation S Global Note may only be transferred to non-U.S. persons pursuant to Regulation S, unless exchanged for interests in a Global Note in accordance with the transfer and certification requirements
described herein. 
 Investors may hold their interests in the Regulation S Global Note through organizations other than Euroclear Bank
S.A./N.V. (“Euroclear”) or Clearstream Banking, société anonyme (“Clearstream”) that are participants in DTC’s system or directly through Euroclear or Clearstream, if they are participants
in such systems, or indirectly through organizations which are participants in such systems. If such interests are held through Euroclear or Clearstream, Euroclear and Clearstream will hold such interests in the applicable Regulation S Global Note
on behalf of their participants through customers’ securities accounts in their respective names on the books of their respective depositaries. Such depositaries, in turn, will hold such interests in the applicable Regulation S Global Note in
customers’ securities accounts in the depositaries’ names on the books of DTC. 

  
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 The Regulation S Global Note may be represented by more than one certificate if so required by
DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Regulation S Global Note may from time to time be increased or decreased by adjustments made on the records of
the Trustee, as custodian for DTC or its nominee, as hereinafter provided. 
 The Rule 144A Global Note and the Regulation S Global Note are
sometimes collectively herein referred to as the “Global Notes.” 
 The principal of (and premium, if any) and interest on
the Notes shall be payable at the office or agency of the Paying Agent designated by the Issuers maintained for such purpose (which shall initially be the office of the Trustee maintained for such purpose), or at such other office or agency of the
Issuers as may be maintained for such purpose pursuant to Section 2.3; provided, however, that, at the option of the Paying Agent, each installment of interest may be paid by (i) check mailed to addresses
of the Persons entitled thereto as such addresses shall appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of this paragraph. Payments in respect
of Notes represented by a Global Note (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by DTC. Payments in respect of Notes represented by Definitive Notes
(including principal, premium, if any, and interest) held by a Holder of at least $1,000,000 aggregate principal amount of Notes represented by Definitive Notes will be made in accordance with the Notes Register, or by wire transfer to a U.S. dollar
account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 15 days immediately
preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 
 The Notes may have
notations, legends or endorsements required by law, stock exchange rule or usage, in addition to those set forth on Exhibit A and in Section 2.1(d). The Issuer shall approve any notation, endorsement or legend on the
Notes. Each Note shall be dated the date of its authentication. The terms of the Notes set forth in Exhibit A are part of the terms of this Indenture and, to the extent applicable, the Issuers, the Guarantors and the Trustee, by their
execution and delivery of this Indenture, expressly agree to be bound by such terms. 
 (c) Denominations. The Notes shall be issuable
only in fully registered form in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 (d) Restrictive
and Global Note Legends. 
 (1) Unless and until (i) an Initial Note or an Additional Note issued as a Restricted
Note is sold under an effective registration statement or (ii) the Issuer receives an Opinion of Counsel satisfactory to it to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain
compliance with the provisions of the Securities Act, the Rule 144A Global Note and the Regulation S Global Note shall bear the following legend on the face thereof: 

THE NOTES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS.
NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, 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,
REGISTRATION AS SET FORTH BELOW. 
 BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED
INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)), OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION, (2) AGREES TO OFFER, SELL, PLEDGE OR OTHERWISE
TRANSFER SUCH NOTE PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS ONE YEAR (OR SUCH LONGER PERIOD AS IS REQUIRED TO COMPLY WITH THE SECURITIES ACT) IN THE CASE OF RULE 144A NOTES, AND 40 DAYS IN THE CASE OF
REGULATION S NOTES AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON 

  
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WHICH THE ISSUER[S] OR ANY AFFILIATE OF THE ISSUER[S] WAS THE OWNER OF THE NOTES (OR ANY PREDECESSOR OF SUCH NOTES), ONLY (A) TO THE ISSUER[S], THE GUARANTORS OR ANY SUBSIDIARY THEREOF,
(B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO 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) OUTSIDE THE UNITED STATES PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN AN OFFSHORE TRANSACTION PURSUANT TO REGULATION S UNDER THE SECURITIES ACT IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE RIGHT OF THE ISSUER[S] AND REGISTRAR PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO THE ISSUER[S]. 
 IN THE CASE OF THE REGULATION S GLOBAL NOTE: BY ITS ACQUISITION
HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 

BY ITS ACQUISITION OF THIS SECURITY THE HOLDER AND ANY SUBSEQUENT TRANSFEREE HEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT
EITHER (I) THE PURCHASER IS NOT ACQUIRING OR HOLDING SUCH NOTE OR AN INTEREST THEREIN WITH THE ASSETS OF (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF ERISA) THAT IS SUBJECT TO ERISA, (B) A “PLAN”
DESCRIBED IN SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (C) ANY ENTITY DEEMED TO HOLD “PLAN ASSETS” OF ANY OF THE FOREGOING BY REASON OF AN EMPLOYEE BENEFIT PLAN’S OR PLAN’S
INVESTMENT IN SUCH ENTITY OR (D) A GOVERNMENTAL PLAN OR CHURCH PLAN SUBJECT TO SUCH PROVISIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, “SIMILAR LAWS”) OR (II) THE ACQUISITION AND HOLDING
OF SUCH NOTE BY THE PURCHASER, THROUGHOUT THE PERIOD THAT IT HOLDS SUCH NOTE AND THE DISPOSITION OF SUCH NOTE OR AN INTEREST THEREIN WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER
SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, A BREACH OF FIDUCIARY DUTY UNDER ERISA OR A VIOLATION OF ANY PROVISIONS OF ANY APPLICABLE SIMILAR LAW. 

(2) Each Global Note, whether or not an Initial Note, shall bear the following legend on the face thereof: 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE ISSUER[S] OR THE AGENT OF THE ISSUER[S] FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

  
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 TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE
HEREOF. 
 (e) Book-Entry Provisions. (i) This Section 2.1(e) shall apply only to Global Notes
deposited with the Trustee, as custodian for DTC, and for which the applicable procedures of DTC shall govern. 
 (1) Each
Global Note initially shall (x) be registered in the name of DTC or the nominee of DTC, (y) be delivered to the Notes Custodian for DTC and (z) bear legends as set forth in Section 2.1(d)(2). Transfers of a
Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the DTC, its successors or its respective nominees, except as set forth in Section 2.1(e)(4) and
2.1(f). If a beneficial interest in a Global Note is transferred or exchanged for a beneficial interest in another Global Note, the Notes Custodian will (x) record a decrease in the principal amount of the Global Note being transferred
or exchanged equal to the principal amount of such transfer or exchange and (y) record a like increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes
delivery in the form of an interest in another Global Note, or exchanged for an interest in another Global Note, will, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and,
accordingly, will thereafter be subject to all transfer and exchange restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 

(2) Members of, or participants in, DTC (“Agent Members”) shall have no rights under this Indenture with
respect to any Global Note held on their behalf by DTC or by the Notes Custodian as the custodian of DTC or under such Global Note, and DTC may be treated by the Issuers, the Trustee and any agent of the Issuers or the Trustee as the absolute owner
of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuers, the Trustee or any agent of the Issuers or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by DTC or impair, as between DTC and its Agent Members, the operation of customary practices of DTC governing the exercise of the rights of a holder of a beneficial interest in any Global Note. 

(3) In connection with any transfer of a portion of the beneficial interest in a Global Note pursuant to
Section 2.1(f) to beneficial owners who are required to hold Definitive Notes, the Notes Custodian shall reflect on its books and records the date and a decrease in the principal amount of such Global Note in an amount
equal to the principal amount of the beneficial interest in the Global Note to be transferred, and the Issuers shall execute, and the Trustee shall authenticate and make available for delivery, one or more Definitive Notes of like tenor and amount.

 (4) In connection with the transfer of an entire Global Note to beneficial owners pursuant to
Section 2.1(f), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Issuers shall execute, and the Trustee shall authenticate and make available for delivery, to each beneficial owner
identified by DTC in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. 

(5) The registered Holder of a Global Note may grant proxies and otherwise authorize any person, including Agent Members and
persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

(6) Any Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of beneficial interests in such
Global Note may be effected only through a book-entry system maintained by (i) the Holder of such Global Note (or its agent) or (ii) any holder of a beneficial interest in such Global Note, and that ownership of a beneficial interest in
such Global Note shall be required to be reflected in a book entry. 
 (f) Definitive Notes. Except as provided below, owners of
beneficial interests in Global Notes will not be entitled to receive Definitive Notes. Definitive Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Note if (A) DTC notifies the Issuer
that it is unwilling or unable to continue 

  
 -47- 

 
as Depositary for such Global Note or DTC ceases to be a clearing agency registered under the Exchange Act, at a time when DTC is required to be so registered in order to act as depositary, and
in each case a successor depositary is not appointed by the Issuer within 90 days of such notice, (B) the Issuer in its sole discretion executes and deliver to the Trustee and Registrar an Officer’s Certificate stating that such Global
Note shall be so exchangeable or (C) an Event of Default has occurred and is continuing and the Registrar has received a written request from DTC. In the event of the occurrence of any of the events specified in the second preceding sentence or
in clause (A), (B) or (C) of the preceding sentence, the Issuers shall promptly make available to the Registrar a reasonable supply of Definitive Notes. In addition, any Note transferred to an affiliate (as defined in Rule 405 under the
Securities Act) of the Issuer or evidencing a Note that has been acquired by an affiliate in a transaction or series of transactions not involving any public offering must, until one year after the last date on which either the Issuer or any
affiliate of the Issuer was an owner of the Note, be in the form of a Definitive Note and bear the legend regarding transfer restrictions in Section 2.1(d)(1). If required to do so pursuant to any applicable law or
regulation, beneficial owners may also obtain Definitive Notes in exchange for their beneficial interests in a Global Note upon written request in accordance with DTC’s and the Registrar’s procedures. 

(1) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.1(e) shall, except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Global Note set forth in
Section 2.1(d)(1). 
 (2) If a Definitive Note is transferred or exchanged for a beneficial
interest in a Global Note, the Trustee will (x) cancel such Definitive Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the event that such
transfer or exchange involves less than the entire principal amount of the canceled Definitive Note, the Issuers shall execute, and the Trustee shall authenticate and make available for delivery, to the transferring Holder a new Definitive Note
representing the principal amount not so transferred. 
 (3) If a Definitive Note is transferred or exchanged for another
Definitive Note, (x) the Trustee will cancel the Definitive Note being transferred or exchanged, (y) the Issuers shall execute, and the Trustee shall authenticate and make available for delivery, one or more new Definitive Notes in
authorized denominations having an aggregate principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Definitive Note (in the case of an exchange),
registered in the name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Definitive Note, the Issuers shall execute, and the Trustee shall authenticate
and make available for delivery to the Holder thereof, one or more Definitive Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Definitive Notes, registered in
the name of the Holder thereof. 
 (4) Notwithstanding anything to the contrary in this Indenture, in no event shall a
Definitive Note be delivered upon exchange or transfer of a beneficial interest in the Regulation S Global Note prior to the end of the Restricted Period. 

SECTION 2.2. Execution and Authentication. One Officer shall sign the Notes for the Issuers by manual or facsimile signature. If the
Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 

A Note shall not be valid until an authorized officer of the Trustee manually authenticates the Note. The signature of the Trustee on a Note
shall be conclusive evidence that such Note has been duly and validly authenticated and issued under this Indenture. A Note shall be dated the date of its authentication. 

At any time and from time to time after the execution and delivery of this Indenture, the Trustee shall authenticate and make available for
delivery: (1) Initial Notes for original issue on the Issue Date in an aggregate principal amount of $675,000,000, (2) subject to the terms of this Indenture, Additional Notes for original issue in an unlimited principal amount and
(3) under the circumstances set forth in Section 2.6(e), Initial Notes in the form of an Unrestricted Global Note, in each case upon a written order of the Issuer signed by one Officer (the “Issuer
Order”). Such Issuer Order shall specify whether the Notes will be in the form of Definitive Notes or Global Notes, the amount of the Notes to be authenticated, the date on which the original issue of Notes is to be authenticated, the
Holder of the Notes and whether the Notes are to be Initial Notes or Additional Notes. 

  
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 The Trustee may appoint an agent (the “Authenticating Agent”) reasonably
acceptable to the Issuer to authenticate the Notes. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, any such
Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. An Authenticating Agent has the same rights as any
Registrar, Paying Agent or agent for service of notices and demands. 
 In case any of the Issuers or any Guarantor, pursuant to Article
IV or Section 10.2, as applicable, shall be consolidated or merged with or into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any
Person, and the successor Person resulting from such consolidation, or surviving such merger, or into which the Issuers or any Guarantor shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other
disposition as aforesaid, shall have executed an indenture supplemental hereto with the Trustee pursuant to Article IV, any of the Notes authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other
disposition may (but shall not be required), from time to time, at the request of the successor Person, be exchanged for other Notes executed in the name of the successor Person with such changes in phraseology and form as may be appropriate to
reflect such successor Person, but otherwise in substance of like tenor as the Notes surrendered for such exchange and of like principal amount; and the Trustee, upon the Issuer Order of the successor Person, shall authenticate and make available
for delivery Notes as specified in such order for the purpose of such exchange. If Notes shall at any time be authenticated and delivered in any new name of a successor Person pursuant to this Section 2.2 in exchange or
substitution for or upon registration of transfer of any Notes, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Notes at the time outstanding for Notes authenticated and
delivered in such new name. 
 SECTION 2.3. Registrar and Paying Agent. The Issuers shall maintain an office or agency where Notes
may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be presented for payment. The Registrar shall keep a register of the Notes and of their transfer and exchange
(the “Notes Register”). The Issuers may have one or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes any additional paying agent and the
term “Registrar” includes any co-registrar. 
 The Issuers shall enter into an appropriate
agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuers shall notify the Trustee in writing of the name and address of
each such agent. If the Issuers fail to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.7. The Issuers or any Guarantor
may act as Paying Agent, Registrar or transfer agent. 
 The Issuer initially appoints DTC to act as Depositary with respect to the Global
Notes. The Issuers initially appoint the Trustee as Registrar and Paying Agent for the Notes. The Issuers may change any Registrar or Paying Agent without prior notice to the Holders, but upon written notice to such Registrar or Paying Agent and to
the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of any appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such successor Registrar or
Paying Agent, as the case may be, and delivered to the Trustee and the passage of any waiting or notice periods required by DTC procedures or (ii) written notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent
until the appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Issuer and the Trustee. 

SECTION 2.4. Paying Agent to Hold Money in Trust. By no later than 11:00 a.m. (Eastern time) on the date on which any principal of,
premium, if any, or interest on any Note is due and payable, the Issuers shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay such principal, premium or interest when due. The Issuer shall require each Paying
Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the payment of principal of, premium, if any, or interest on the Notes
(whether such assets have been distributed to it 

  
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by the Issuers or other obligors on the Notes), shall notify the Trustee in writing of any default by the Issuers or any Guarantor in making any such payment and shall during the continuance of
any default by the Issuers (or any other obligor upon the Notes) in the making of any payment in respect of the Notes, upon the written request of the Trustee, forthwith deliver to the Trustee all sums held in trust by such Paying Agent for payment
in respect of the Notes together with a full accounting thereof. If the Issuer or a Subsidiary of the Issuer acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Issuer at any time
may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any funds or assets disbursed by such Paying Agent. Upon complying with this Section 2.4, the Paying Agent
(if other than the Issuer or a Subsidiary of the Issuer) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Issuers, the Trustee shall serve as Paying
Agent for the Notes. 
 SECTION 2.5. Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Issuer, on its own behalf and on behalf of each of the Guarantors, shall furnish or cause the Registrar to furnish to the Trustee, in
writing at least five Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders.

 SECTION 2.6. Transfer and Exchange. 

(a) A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a beneficial interest therein) for
another Note or Notes of any authorized denomination by presenting to the Registrar a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other document
required by this Section 2.6. The Registrar will promptly register any transfer or exchange that meets the requirements of this Section 2.6 by noting the same in the Notes Register maintained by
the Registrar for the purpose, and no transfer or exchange will be effective until it is registered in such Notes Register. The transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this
Section 2.6 and Section 2.1(e) and 2.1(f), as applicable, and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of DTC, Euroclear and
Clearstream. The Registrar shall refuse to register any requested transfer or exchange that does not comply with this paragraph. 
 (b)
Transfers of Rule 144A Notes. The following provisions shall apply with respect to any proposed registration of transfer of a Rule 144A Note prior to the date that is one year after the later of the date of its original issue and the last
date on which the Issuer or any Affiliate of the Issuer was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”): 

(1) a registration of transfer of a Rule 144A Note or a beneficial interest therein to a QIB shall be made upon the
representation of the transferee in the form as set forth on the reverse of the Note that it is purchasing for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a
“qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A;
provided that no such written representation or other written certification shall be required in connection with the transfer of a beneficial interest in the Rule 144A Global Note to a transferee in the form of a beneficial interest in
that Rule 144A Global Note in accordance with this Indenture and the applicable procedures of DTC; 
 (2) [reserved]; and

 (3) a registration of transfer of a Rule 144A Note or a beneficial interest therein to a
Non-U.S. Person shall be made upon receipt by the Registrar or its agent of a certificate substantially in the form set forth in Section 2.9 from the proposed transferee and the
delivery of an Opinion of Counsel, certification and/or other information satisfactory to the Issuer. 

  
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 (c) Transfers of Regulation S Notes. The following provisions shall apply with respect to
any proposed transfer of a Regulation S Note prior to the expiration of the Restricted Period: 
 (1) a transfer of a
Regulation S Note or a beneficial interest therein to a QIB shall be made upon the representation of the transferee, in the form of assignment on the reverse of the certificate, that it is purchasing the Note for its own account or an account with
respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, is aware that the sale to it is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing
representations in order to claim the exemption from registration provided by Rule 144A; 
 (2) [reserved]; and 

(3) a transfer of a Regulation S Note or a beneficial interest therein to a Non-U.S.
Person shall be made upon receipt by the Registrar or its agent of a certificate substantially in the form set forth in Section 2.9 hereof from the proposed transferee and receipt by the Registrar or its agent of an Opinion
of Counsel, certification and/or other information satisfactory to the Issuer. 
 After the expiration of the Restricted Period, interests in
the Regulation S Note may be transferred in accordance with applicable law without requiring the certification set forth in Section 2.9 or any additional certification. 

(d) Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes not bearing a Restricted Notes Legend, the Registrar
shall deliver Notes that do not bear a Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes bearing a Restricted Notes Legend, the Registrar shall deliver only Notes that bear a Restricted Notes Legend unless (1) an
Initial Note is being transferred pursuant to an effective registration statement, (2) Initial Notes are being exchanged for Notes that do not bear the Restricted Notes Legend in accordance with Section 2.6(e) or
(3) there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Issuer to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain compliance with the provisions
of the Securities Act. Any Additional Notes sold in a registered offering shall not be required to bear the Restricted Notes Legend. 
 (e)
Automatic Exchange from Global Note Bearing Restricted Notes Legend to Global Note Not Bearing Restricted Notes Legend. Upon the Issuer’s satisfaction that the Restricted Notes Legend shall no longer be required in order to maintain
compliance with the Securities Act, beneficial interests in a Global Note bearing the Restricted Notes Legend (a “Restricted Global Note”) may be automatically exchanged into beneficial interests in a Global Note not bearing the
Restricted Notes Legend (an “Unrestricted Global Note”) without any action required by or on behalf of the Holder (the “Automatic Exchange”) at any time on or after the date that is the 366th calendar day after
(1) with respect to the Notes issued on the Issue Date, the Issue Date or (2) with respect to Additional Notes, if any, the issue date of such Additional Notes, or, in each case, if such day is not a Business Day, on the next succeeding
Business Day (the “Automatic Exchange Date”). Upon the Issuer’s satisfaction that the Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities Act, the Issuers shall (i) provide
written notice to DTC and the Trustee at least fifteen (15) calendar days prior to the Automatic Exchange Date, instructing DTC to exchange all of the outstanding beneficial interests in a particular Restricted Global Note to the Unrestricted
Global Note, which the Issuer shall have previously otherwise made eligible for exchange with the DTC, (ii) provide prior written notice (the “Automatic Exchange Notice”) to each Holder at such Holder’s address appearing
in the register of Holders at least fifteen (15) calendar days prior to the Automatic Exchange Date (the “Automatic Exchange Notice Date”), which notice must include (w) the Automatic Exchange Date, (x) the section of
this Indenture pursuant to which the Automatic Exchange shall occur, (y) the “CUSIP” number of the Restricted Global Note from which such Holder’s beneficial interests will be transferred and (z) the “CUSIP” number
of the Unrestricted Global Note into which such Holder’s beneficial interests will be transferred, and (iii) on or prior to the Automatic Exchange Date, deliver to the Trustee for authentication one or more Unrestricted Global Notes, duly
executed by the Issuers and an Issuer Order requesting the Trustee to authenticate, in an aggregate principal amount equal to the aggregate principal amount of Restricted Global Notes to be exchanged into such Unrestricted Global Notes. At the
Issuer’s written request on no less than five (5) calendar days’ notice prior to the Automatic Exchange Notice Date, the Trustee shall deliver, in the Issuer’s name and at its expense, the Automatic Exchange Notice to each Holder
at such Holder’s address appearing in the register of Holders; provided that the Issuer has delivered to the Trustee such Automatic Exchange Notice. 

  
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 Notwithstanding anything to the contrary in this Section 2.6(e), during
the fifteen (15) calendar day period prior to the Automatic Exchange Date, no transfers or exchanges other than pursuant to this Section 2.6(e) shall be permitted without the prior written consent of the Issuer. As a
condition to any Automatic Exchange, the Issuer shall provide, and the Trustee shall be entitled to conclusively rely upon, an Officer’s Certificate and Opinion of Counsel to the Issuer to the effect that the Automatic Exchange shall be
effected in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities Act and that the aggregate
principal amount of the particular Restricted Global Note is to be transferred to the particular Unrestricted Global Note by adjustment made on the records of the Trustee, as custodian for the Depositary to reflect the Automatic Exchange. Upon such
exchange of beneficial interests pursuant to this Section 2.6(e), the aggregate principal amount of the Global Notes shall be increased or decreased by adjustments made on the records of the Trustee, as custodian for the
Depositary, to reflect the relevant increase or decrease in the principal amount of such Global Note resulting from the applicable exchange. The Restricted Global Note from which beneficial interests are transferred pursuant to an Automatic Exchange
shall be cancelled following the Automatic Exchange. 
 (f) Retention of Written Communications. The Registrar shall retain copies of
all letters, notices and other written communications received pursuant to Section 2.1 or this Section 2.6. The Issuer shall have the right to inspect and make copies of all such letters, notices
or other written communications at any reasonable time upon the giving of reasonable prior written notice to the Registrar. 
 (g)
Obligations with Respect to Transfers and Exchanges of Notes. To permit registrations of transfers and exchanges, the Issuers shall, subject to the other terms and conditions of this Article II, execute and the Trustee shall
authenticate Definitive Notes and Global Notes at the Issuers’ and Registrar’s written request. 
 No service charge shall be made
to a Holder for any registration of transfer or exchange, but the Issuers may require the Holder to pay a sum sufficient to cover any transfer tax assessments or similar governmental charge payable in connection therewith (other than any such
transfer taxes, assessments or similar governmental charges payable upon exchange or transfer pursuant to Sections 2.2, 2.6, 2.11, 2.13, 3.5, 5.6 or 9.5). 

The Issuers (and the Registrar) shall not be required to register the transfer of or exchange of any Note 

(A) for a period beginning (1) 15 calendar days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on
the day of such mailing or (2) 15 calendar days before an interest payment date and ending on such interest payment date or (B) called for redemption, except the unredeemed portion of any Note being redeemed in part. 

Prior to the due presentation for registration of transfer of any Note, the Issuers, the Trustee, the Paying Agent or the Registrar may deem
and treat the person in whose name a Note is registered as the owner of such Note for the purpose of receiving payment of principal of, premium, if any, and (subject to paragraph 2 of the forms of Notes attached hereto as Exhibit A) interest
on such Note and for all other purposes whatsoever, including without limitation the transfer or exchange of such Note, whether or not such Note is overdue, and none of the Issuers, the Trustee, the Paying Agent or the Registrar shall be affected by
notice to the contrary. 
 Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.1(f) shall, except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Definitive Note set forth in
Section 2.1(d)(1). 
 All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture shall
evidence the same debt and shall be entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 

  
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 (h) No Obligation of the Trustee. (1) Neither the Trustee nor the Registrar shall
have any responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in, DTC or other Person with respect to the accuracy of the records of DTC or its nominee or of any participant or member thereof, with
respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than DTC) of any notice (including any notice of redemption or purchase) or the payment of any amount
or delivery of any Notes (or other security or property) under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Notes shall be given or made only to or
upon the order of the registered Holders (which shall be DTC or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through DTC subject to the applicable rules and procedures of DTC.
The Trustee may rely and shall be fully protected in relying upon information furnished by DTC with respect to its members, participants and any beneficial owners. 

Neither the Trustee nor the Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any
restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among DTC participants, members or beneficial owners in any Global Note) other
than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof. Neither the Trustee nor any of its agents shall have any responsibility for any actions taken or not taken by DTC. 

SECTION 2.7. [Reserved]. 

SECTION 2.8. [Reserved]. 

SECTION 2.9. Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S. 

[Date] 
 [Double Eagle Acquisition Sub, Inc. 

c/o Advent International Corporation 
 75 State Street 

Boston, MA 02109 
 Attention: President]1 
 [inVentiv Group Holdings, Inc. 

1 Van de Graaff Drive 
 Burlington, MA 01803 

Attention: General Counsel]2 

Wilmington Trust, National Association, as Trustee 
 50 South
Sixth Street, Suite 1290 
 Minneapolis, MN 55402 
 Attention:
[Double Eagle Acquisition Sub, Inc./inVentiv Group Holdings, Inc.] Administrator 
 Telecopy: (612) 217-5651 

 

	Re:	Double Eagle Acquisition Sub, Inc./inVentiv Group Holdings, Inc. (the “Issuer”) 

7.500% Senior Notes due 2024 (the “Notes”) 

 

	1 	To be used before the Escrow Release Date. 

	2 	To be used on and after the Escrow Release Date. 

  
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 Ladies and Gentlemen: 

In connection with our proposed sale of $[            ] aggregate principal amount
of the Notes, we confirm that such sale has been effected pursuant to and in accordance with Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent that: 

(a) the offer of the Notes was not made to a person in the United States; 

(b) either (i) at the time the buy order was originated, the transferee was outside the United States or we and any person
acting on our behalf reasonably believed that the transferee was outside the United States or (ii) the transaction was executed in, on or through the facilities of a designated off-shore securities market
and neither we nor any person acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 

(c) no directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(a)(2) or
Rule 904(a)(2) of Regulation S, as applicable; and 
 (d) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act. 
 In addition, if the sale is made during a restricted period and the provisions of Rule
903(b)(2), Rule 903(b)(3) or Rule 904(b)(1) of Regulation S are applicable thereto, we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b)(2), Rule 903(b)(3) or Rule 904(b)(1), as the case may be. 

We also hereby certify that we [are][are not] an Affiliate of the Issuer[s] and, to our knowledge, the transferee of the Notes [is][is not] an
Affiliate of the Issuer[s]. 
 The Trustee and the Issuer are entitled to conclusively rely upon this letter and are irrevocably authorized
to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation S.

  

			
	Very truly yours,
	
	[Name of Transferor]
		
	By:	 	 
		 	Authorized Signature

  
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 SECTION 2.10. [Reserved]. 

SECTION 2.11. Mutilated, Destroyed, Lost or Stolen Notes. 

If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the Note has been lost, destroyed or wrongfully
taken, the Issuers shall issue and the Trustee shall authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder (a) satisfies
the Issuer and the Trustee that such Note has been lost, destroyed or wrongfully taken within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar has not registered a transfer prior to
receiving such notification, (b) makes such request to the Issuer and the Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code
(a “protected purchaser”), (c) satisfies any other reasonable requirements of the Trustee and (d) provides an indemnity bond, as more fully described below; provided, however, if after the delivery of such
replacement Note, a protected purchaser of the Note for which such replacement Note was issued presents for payment or registration such replaced Note, the Trustee and/or the Issuer shall be entitled to recover such replacement Note from the Person
to whom it was issued and delivered or any Person taking therefrom, except a protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the
Issuer or the Trustee in connection therewith. Such Holder shall furnish an indemnity bond sufficient in the judgment of the (i) Trustee to protect the Trustee and (ii) the Issuer to protect the Issuers, the Trustee, the Paying Agent and the
Registrar, from any loss which any of them may suffer if a Note is replaced, and, in the absence of notice to the Issuer, any Guarantor or the Trustee that such Note has been acquired by a protected purchaser, the Issuer shall execute, and upon
receipt of an Issuer Order, the Trustee shall authenticate and make available for delivery, in exchange for any such mutilated Note or in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount, bearing a
number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due
and payable, the Issuer in its discretion may, instead of issuing a new Note, pay such Note. 
 Upon the issuance of any new Note under this
Section 2.11, the Issuer may require that such Holder pay a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
counsel and of the Trustee) in connection therewith. 
 Subject to the proviso in the initial paragraph of this
Section 2.11, every new Note issued pursuant to this Section 2.11, in lieu of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the
Issuers, any Guarantor (if applicable) and any other obligor upon the Notes, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder. 
 The provisions of this Section 2.11 are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 

SECTION 2.12. Outstanding Notes. Notes outstanding at any time are all Notes authenticated by the Trustee except for those cancelled by
it, those delivered to it for cancellation, those paid pursuant to Section 2.11 and those described in this Section 2.12 as not outstanding. A Note does not cease to be outstanding in the event the
Issuers or an Affiliate of the Issuers holds the Note; provided, however, that (i) for purposes of determining which are outstanding for consent or voting purposes hereunder, the provisions of
Section 13.4 shall apply and (ii) in determining whether the Trustee shall be protected in making a determination whether the Holders of the requisite principal amount of outstanding Notes are present at a meeting of
Holders of Notes for quorum purposes or have consented to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying upon any such quorum, consent or vote, only Notes
which a Trust Officer of the Trustee actually knows to be held by the Issuers or an Affiliate of the Issuers shall not be considered outstanding. 

If a Note is replaced pursuant to Section 2.11 (other than a mutilated Note surrendered for replacement), it ceases
to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon surrender of such Note and replacement pursuant to
Section 2.11. 

  
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 If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
Redemption Date or maturity date, money sufficient to pay all principal, premium, if any, and accrued interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, and the Paying Agent
is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.13. Temporary Notes. In the event that Definitive Notes are to be issued under the terms of this Indenture, until such
Definitive Notes are ready for delivery, the Issuers may prepare and the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially in the form, and shall carry all rights, of Definitive Notes but may have variations that the
Issuer considers appropriate for temporary Notes. Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate Definitive Notes. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for
Definitive Notes upon surrender of the temporary Notes at any office or agency maintained by the Issuer for that purpose and such exchange shall be without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the
Issuers shall execute, and the Trustee shall, upon receipt of an Issue Order, authenticate and make available for delivery in exchange therefor, one or more Definitive Notes representing an equal principal amount of Notes. Until so exchanged, the
Holder of temporary Notes shall in all respects be entitled to the same benefits under this Indenture as a Holder of Definitive Notes. 

SECTION 2.14. Cancellation. The Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and the Paying
Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment or cancellation and
dispose of such Notes in accordance with its internal policies and customary procedures (subject to the record retention requirements of the Exchange Act and the Trustee). If the Issuers or any Guarantor acquires any of the Notes, such acquisition
shall not operate as a redemption or satisfaction of the Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this Section 2.14. The Issuers may not
issue new Notes to replace Notes it has paid or delivered to the Trustee for cancellation for any reason other than in connection with a transfer or exchange. 

At such time as all beneficial interests in a Global Note have either been exchanged for Definitive Notes, transferred, redeemed, repurchased
or canceled, such Global Note shall be returned by DTC to the Trustee for cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Definitive Notes,
transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the books and records of the Trustee
(if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect such reduction. 

SECTION 2.15. Payment of Interest; Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided
for, on any interest payment date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the regular record date for such payment at the office or agency of the Issuer
maintained for such purpose pursuant to Section 2.3. 
 Any interest on any Note which is payable, but is not paid
when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such
defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuers, at their election, as provided in clause (a) or (b)
below: 
 (a) The Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or
their respective predecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuers shall notify the Trustee in
writing of the amount of Defaulted Interest 

  
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proposed to be paid on each Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the
Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the
proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Section 2.15(a). Thereupon the Issuers shall fix a record date (the
“Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 20 calendar days and not less than 15 calendar days prior to the Special Interest Payment Date and not less than 10 calendar days
after the receipt by the Trustee of the notice of the proposed payment. The Issuers shall promptly notify the Trustee in writing of such Special Record Date, and in the name and at the expense of the Issuers, the Trustee shall cause notice of the
proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 13.1, not less than 10 calendar days prior to such Special
Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the
Persons in whose names the Notes (or their respective predecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the provisions in Section 2.15(b). 

(b) The Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuers to the Trustee of the proposed payment pursuant to this
Section 2.15(b), such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing
provisions of this Section 2.15, each Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Note. 
 SECTION 2.16. CUSIP and ISIN Numbers. 

The Issuers in issuing the Notes may use “CUSIP” and “ISIN” numbers and, if so, the Trustee shall use “CUSIP and
“ISIN” numbers in notices of redemption or purchase as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Notes or as contained in any notice of a redemption or purchase and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or purchase shall not be affected by any defect in or omission of
such CUSIP and ISIN numbers. The Issuer shall promptly notify the Trustee in writing of any change in the CUSIP and ISIN numbers. 
 ARTICLE
III 
 COVENANTS 

SECTION 3.1. Payment of Notes. The Issuers shall promptly pay the principal of, premium, if any, and interest on the Notes on the dates
and in the manner provided in the Notes and in this Indenture. Principal, premium, if any, and interest shall be considered paid on the date due if by 11:00 a.m. Eastern time on such date the Trustee or the Paying Agent holds in accordance with this
Indenture money sufficient to pay all principal, premium, if any, and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture. 
 The Issuers shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on
overdue installments of interest at the same rate to the extent lawful. 
 Notwithstanding anything to the contrary contained in this
Indenture, the Issuers may, to the extent they are required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America from principal or interest payments hereunder. 

  
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 SECTION 3.2. Limitation on Indebtedness. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, Incur any Indebtedness (including Acquired Indebtedness);
provided, however, that the Issuer and any of its Restricted Subsidiaries may Incur Indebtedness (including Acquired Indebtedness) if on the date of such Incurrence and after giving pro forma effect thereto (including pro
forma application of the proceeds thereof), the Fixed Charge Coverage Ratio of the Issuer and its Restricted Subsidiaries is greater than 2.00 to 1.00; provided, further, that Non-Guarantors
may not Incur Indebtedness under this Section 3.2(a) if, after giving pro forma effect to such Incurrence (including a pro forma application of the net proceeds therefrom), more than an aggregate of the greater of
(a) $250.0 million and (b) 60.0% of LTM EBITDA of Indebtedness of Non-Guarantors would be outstanding pursuant to this paragraph at such time. 

(b) The first paragraph of this covenant will not prohibit the Incurrence of the following Indebtedness (collectively, “Permitted
Debt”): 
 (1) (X) Indebtedness Incurred under any Credit Facility (other than the ABL Credit Agreement) by the
Issuer or any of its Restricted Subsidiaries (including letters of credit or bankers’ acceptances issued or created under any Credit Facility) and Guarantees in respect of such Indebtedness, up to an aggregate principal amount at the time of
Incurrence equal to the greater of (a) the sum of (i) $1,730.0 million and (ii) the greater of (A) $280.0 million and (B) 75.0% of LTM EBITDA and (b) the maximum amount of Indebtedness that the Issuer and its Restricted
Subsidiaries could incur such that the Consolidated Secured Leverage Ratio is equal to or less than 5.00 to 1.00 on a pro forma basis (provided that, for purposes of determining the amount that may be Incurred under this clause (b), all
Indebtedness incurred under this clause (b) shall be deemed to be secured by Liens), and (Y) Indebtedness Incurred under the ABL Credit Agreement by the Issuer or any of its Restricted Subsidiaries (including letters of credit or
bankers’ acceptances issued or created under any Credit Facility) and Guarantees in respect of such Indebtedness, up to an aggregate principal amount outstanding at any one time not to exceed the greater of (a) $350.0 million and
(b) the Borrowing Base as of the date of such incurrence, and (Z) in the case of any refinancing of any Indebtedness permitted under this clause or any portion thereof, the aggregate amount of fees, underwriting discounts, accrued and
unpaid interest, premiums (including, without limitation, tender premiums) and other costs and expenses (including, without limitation, original issue discount, upfront fees or similar fees) Incurred in connection with such refinancing, and any
Refinancing Indebtedness in respect thereof; 
 (2) (i) Guarantees by the Issuer or any Restricted Subsidiary of Indebtedness
or other obligations of the Issuer or any Restricted Subsidiary so long as the Incurrence of such Indebtedness or other obligations is not prohibited by the terms of this Indenture; 

(3) Indebtedness of the Issuer owing to and held by any Restricted Subsidiary or Indebtedness of a Restricted Subsidiary owing
to and held by the Issuer or any Restricted Subsidiary; provided, however, that: 
 (i) any subsequent issuance
or transfer of Capital Stock or any other event which results in any such Indebtedness being held by a Person other than the Issuer or a Restricted Subsidiary; and 

(ii) any sale or other transfer of any such Indebtedness to a Person other than the Issuer or a Restricted Subsidiary, 

shall be deemed, in each case, to constitute an Incurrence of such Indebtedness by the Issuer or such Restricted Subsidiary, as the case may
be; 
 (4) Indebtedness represented by (i) the Notes (other than any Additional Notes), including any Guarantee thereof,
(ii) any Indebtedness (other than Indebtedness incurred pursuant to clauses (1), (2) and (4)(i) above) outstanding on the Escrow Release Date and any Guarantee thereof, (iii) Refinancing Indebtedness (including, with respect to the Notes
and any Guarantee thereof) Incurred in respect of any Indebtedness described in this clause or clauses (2), (5) or (19) of this Section 3.2(b) or Incurred pursuant to Section 3.2(a), and
(iv) Management Advances; 

  
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 (5) Indebtedness of (x) the Issuer or any Restricted Subsidiary Incurred or
issued to finance an acquisition or (y) Persons that are acquired by the Issuer or any Restricted Subsidiaries or merged into, amalgamated or consolidated with the Issuer or any Restricted Subsidiary in accordance with the terms of this
Indenture; provided that such Indebtedness is in an aggregate amount not to exceed (a) the greater of $100.0 million and 25.0% of LTM EBITDA at the time of Incurrence plus (b) unlimited additional Indebtedness if after giving
effect to such acquisition, merger or consolidation, either 
 (i) the Issuer would be permitted to Incur at least $1.00 of
additional Indebtedness pursuant to Section 3.2(a), 
 (ii) either the Fixed Charge Coverage Ratio
of the Issuer and the Restricted Subsidiaries would not be lower or the Consolidated Total Leverage Ratio of the Issuer and the Restricted Subsidiaries would not be higher, in each case, than it was immediately prior to such acquisition, merger or
consolidation, or 
 (iii) such Indebtedness constitutes Acquired Indebtedness (other than Indebtedness Incurred in
contemplation of the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the Issuer or a Restricted Subsidiary); provided that, in the case of this clause
(iii), the only obligors with respect to such Indebtedness shall be those Persons who were obligors of such Indebtedness prior to such acquisition, merger or consolidation; 

(6) Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes); 

(7) Indebtedness (i) represented by Capitalized Lease Obligations or Purchase Money Obligations, in an aggregate
outstanding principal amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (7) and then outstanding, does not exceed the greater of (x) $100.0 million and (y) 25.0% of LTM
EBITDA at the time of Incurrence and any Refinancing Indebtedness in respect thereof and (ii) arising out of Sale and Leaseback Transactions; 

(8) Indebtedness in respect of (i) workers’ compensation claims, self-insurance obligations, customer guarantees,
performance, indemnity, surety, judgment, appeal, advance payment (including progress premiums), customs, value added or other tax or other guarantees or other similar bonds, instruments or obligations and completion guarantees and warranties
provided by the Issuer or a Restricted Subsidiary or relating to liabilities, obligations or guarantees Incurred in the ordinary course of business or consistent with past practice, (ii) the honoring by a bank or other financial institution of
a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or consistent with past practice; provided, however, that such Indebtedness is extinguished within five Business Days of
Incurrence; (iii) customer deposits and advance payments (including progress premiums) received in the ordinary course of business or consistent with past practice from customers for goods or services purchased in the ordinary course of
business or consistent with past practice; (iv) letters of credit, bankers’ acceptances, warehouse receipts, guarantees or other similar instruments or obligations issued or relating to liabilities or obligations Incurred in the ordinary
course of business or consistent with past practice, (v) any customary treasury, depositary, cash management, automatic clearinghouse arrangements, overdraft protections, credit or debit card, purchase card, electronic funds transfer, cash
pooling or netting or setting off arrangements or similar arrangements in the ordinary course of business or consistent with past practice, and (vi) Settlement Indebtedness; 

(9) Indebtedness arising from agreements providing for guarantees, indemnification, obligations in respect of earn-outs or
other adjustments of purchase price or, in each case, similar obligations, in each case, Incurred or assumed in connection with the acquisition or disposition of any 

  
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business or assets or Person or any Capital Stock of a Subsidiary (other than Guarantees of Indebtedness Incurred by any Person acquiring or disposing of such business or assets or such
Subsidiary for the purpose of financing such acquisition or disposition); provided that the maximum liability of the Issuer and its Restricted Subsidiaries in respect of all such Indebtedness in connection with a disposition shall at no time
exceed the gross proceeds, including the fair market value of non-cash proceeds (measured at the time received and without giving effect to any subsequent changes in value), actually received by the Issuer and
its Restricted Subsidiaries in connection with such disposition; 
 (10) Indebtedness in an aggregate outstanding principal
amount which, when taken together with the principal amount of all other Indebtedness Incurred pursuant to this clause (10) and then outstanding, will not exceed 100.0% of the Net Cash Proceeds received by the Issuer from the issuance or sale
(other than to a Restricted Subsidiary) of its Capital Stock or otherwise contributed to the equity (in each case, other than through the issuance of Disqualified Stock, Designated Preferred Stock or an Excluded Contribution) of the Issuer, in each
case, subsequent to the Escrow Release Date and any Refinancing Indebtedness in respect thereof; provided, however, that (i) any such Net Cash Proceeds that are so received or contributed shall not increase the amount available
for making Restricted Payments to the extent the Issuer and its Restricted Subsidiaries Incur Indebtedness in reliance thereon and (ii) any Net Cash Proceeds that are so received or contributed shall be excluded for purposes of Incurring
Indebtedness pursuant to this clause (10) to the extent such Net Cash Proceeds or cash have been applied to make Restricted Payments; 

(11) Indebtedness of Non-Guarantors in an aggregate amount not to exceed the greater of
(a) $100.0 million and (b) 25.0% of LTM EBITDA at the time of Incurrence and any Refinancing Indebtedness in respect thereof; 

(12) Indebtedness consisting of promissory notes issued by the Issuer or any of its Subsidiaries to any future, present or
former employee, director, contractor or consultant of the Issuer, any of its Subsidiaries or any Parent Entity (or permitted transferees, assigns, estates, or heirs of such employee, director, contractor or consultant), to finance the purchase or
redemption of Capital Stock of the Issuer or any Parent Entity that is permitted by Section 3.3; 

(13) Indebtedness of the Issuer or any of its Restricted Subsidiaries consisting of (i) the financing of insurance
premiums or (ii) take-or-pay obligations contained in supply arrangements, in each case Incurred in the ordinary course of business or consistent with past
practice; 
 (14) Indebtedness in an aggregate outstanding principal amount which when taken together with the principal
amount of all other Indebtedness Incurred pursuant to this clause (14) and then outstanding will not exceed the greater of (i) $275.0 million and (ii) 70.0% of LTM EBITDA; 

(15) Indebtedness in respect of a Receivables Facility; 

(16) Indebtedness of the Issuer or any of its Restricted Subsidiaries arising pursuant to any Permitted Tax Restructuring; 

(17) Indebtedness to the seller of any business or assets permitted to be acquired by the Issuer or any Restricted Subsidiary
under this Indenture; provided that the aggregate amount of Indebtedness Incurred pursuant to this clause and then outstanding will not exceed $50.0 million; 

(18) any obligation, or guaranty of any obligation, of the Issuer or any Restricted Subsidiary to reimburse or indemnify a
Person extending credit to customers of the Issuer or a Restricted Subsidiary incurred in the ordinary course of business or consistent with past practice for all or any portion of the amounts payable by such customers to the Person extending such
credit; 

  
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 (19) Indebtedness to a customer to finance the acquisition of any equipment
necessary to perform services for such customer; provided that the terms of such Indebtedness are consistent with those entered into with respect to similar Indebtedness prior to the Issue Date, including that (1) the repayment of such
Indebtedness is conditional upon such customer ordering a specific volume of goods and (2) such Indebtedness does not bear interest or provide for scheduled amortization or maturity; and 

(20) obligations in respect of Disqualified Stock in an amount not to exceed $25.0 million outstanding at the time of
Incurrence. 
 (c) For purposes of determining compliance with, and the outstanding principal amount of any particular Indebtedness Incurred
pursuant to and in compliance with, this Section 3.2: 
 (1) subject to clause (3) below, in
the event that all or any portion of any item of Indebtedness meets the criteria of more than one of the types of Indebtedness described in the first and second paragraphs of this covenant, the Issuer, in its sole discretion, shall classify, and may
from time to time reclassify, such item of Indebtedness and only be required to include the amount and type of such Indebtedness in Section 3.2(a) or one of the clauses of Section 3.2(b); 

(2) additionally, all or any portion of any item of Indebtedness may later be reclassified as having been Incurred pursuant to
any type of Indebtedness described in Section 3.2(a) or (b) so long as such Indebtedness is permitted to be Incurred pursuant to such provision and any related Liens are permitted to be Incurred at the time of
reclassification; 
 (3) all Indebtedness outstanding on the Escrow Release Date under the Credit Agreements shall be deemed
to have been Incurred on the Escrow Release Date under Section 3.2(b)(1); 
 (4) in the case of any
Refinancing Indebtedness, when measuring the outstanding amount of such Indebtedness, such amount shall not include the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums (including, without limitation, tender
premiums) and other costs and expenses (including, without limitation, original issue discount, upfront fees or similar fees) Incurred in connection with such refinancing; 

(5) Guarantees of, or obligations in respect of letters of credit, bankers’ acceptances or other similar instruments
relating to, or Liens securing, Indebtedness that is otherwise included in the determination of a particular amount of Indebtedness shall not be included; 

(6) if obligations in respect of letters of credit, bankers’ acceptances or other similar instruments are Incurred
pursuant to any Credit Facility and are being treated as Incurred pursuant to Section 3.2(a) or any clause of Section 3.2(b) and the letters of credit, bankers’ acceptances or other similar
instruments relate to other Indebtedness, then such other Indebtedness shall not be included; 
 (7) the principal amount of
any Disqualified Stock of the Issuer or a Restricted Subsidiary, or Preferred Stock of a Restricted Subsidiary, will be equal to the greater of the maximum mandatory redemption or repurchase price (not including, in either case, any redemption or
repurchase premium) or the liquidation preference thereof; 
 (8) Indebtedness permitted by this covenant need not be
permitted solely by reference to one provision permitting such Indebtedness but may be permitted in part by one such provision and in part by one or more other provisions of this covenant permitting such Indebtedness; 

(9) in the event that the Issuer or a Restricted Subsidiary enters into or increases commitments under a revolving credit
facility, enters into any commitment to Incur or issue Indebtedness, Disqualified Stock or Preferred Stock or commits to Incur any Lien pursuant to clause (32) of the definition of “Permitted Liens,” the incurrence or issuance thereof
for all purposes under this Indenture, including without limitation for purposes of calculating the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, or usage of clauses
(1) through (20) of Section 3.2(b) (if any) for borrowings and reborrowings thereunder (and including issuance and 

  
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creation of letters of credit and bankers’ acceptances thereunder) will, at the Issuer’s option, either (a) be determined on the date of such revolving credit facility or such
entry into or increase in commitments (assuming that the full amount thereof has been borrowed as of such date) or other Indebtedness, Disqualified Stock or Preferred Stock, and, if such Fixed Charge Coverage Ratio, the Consolidated Secured Leverage
Ratio or the Consolidated Total Leverage Ratio, as applicable, test or other provision of this Indenture referred to above is satisfied with respect thereto at such time, any borrowing or reborrowing thereunder (and the issuance and creation of
letters of credit and bankers’ acceptances thereunder) will be permitted under this covenant irrespective of the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, or
other provision of this Indenture at the time of any borrowing or reborrowing (or issuance or creation of letters of credit or bankers’ acceptances thereunder) (the committed amount permitted to be borrowed or reborrowed (and the issuance and
creation of letters of credit and bankers’ acceptances) on a date pursuant to the operation of this clause (a) shall be the “Reserved Indebtedness Amount” as of such date for purposes of the Fixed Charge Coverage Ratio, the
Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable), or (b) be determined on the date such amount is borrowed pursuant to any such facility or increased commitment, and in each case, the Issuer may
revoke such determination at any time and from time to time; 
 (10) in the event that the Issuer or a Restricted Subsidiary
(x) incurs Indebtedness to finance an acquisition or (y) assumes Indebtedness of Persons that are acquired by the Issuer or any Restricted Subsidiary or merged into the Issuer or a Restricted Subsidiary in accordance with the terms of this
Indenture, the date of determination of the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, shall, at the option of the Issuer, be (a) the date that a definitive agreement
for such acquisition is entered into and the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the Consolidated Total Leverage Ratio, as applicable, shall be calculated giving pro forma effect to such acquisition and the other
transactions to be entered into in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) consistent with the definition of the Fixed Charge Coverage Ratio, the Consolidated Secured Leverage Ratio or the
Consolidated Total Leverage Ratio, as applicable, and, for the avoidance of doubt, (A) if any such ratios are exceeded as a result of fluctuations in such ratio (including due to fluctuations in the Consolidated EBITDA of the Issuer or the
target company) at or prior to the consummation of the relevant acquisition, such ratios will not be deemed to have been exceeded as a result of such fluctuations solely for purposes of determining whether such acquisition and any related
transactions are permitted hereunder and (B) such ratios shall not be tested at the time of consummation of such acquisition or related transactions; provided, further, that if the Issuer elects to have such determinations occur at the time
of entry into such definitive agreement, (i) any such transaction shall be deemed to have occurred on the date the definitive agreement is entered into and to be outstanding thereafter for purposes of calculating any ratios under this
Indenture after the date of such agreement and before the earlier of the date of consummation of such acquisition or the date such agreement is terminated or expires without consummation of such acquisition and (ii) to the extent any covenant
baskets were utilized in satisfying any covenants, such baskets shall be deemed utilized until the earlier of the date of consummation of such acquisition or the date such agreement is terminated or expires without consummation of such acquisition,
but any calculation of Consolidated Net Income or Consolidated EBITDA for purposes of other incurrences of Indebtedness or Liens or making of Restricted Payments (not related to such acquisition) shall not reflect such acquisition until it has been
consummated or (b) the date such Indebtedness is Incurred or assumed; 
 (11) notwithstanding anything in this covenant
to the contrary, in the case of any Indebtedness incurred to refinance Indebtedness initially incurred in reliance on a clause of the second paragraph of this covenant measured by reference to a percentage of LTM EBITDA at the time of Incurrence, if
such refinancing would cause the percentage of LTM EBITDA restriction to be exceeded if calculated based on the percentage of LTM EBITDA on the date of such refinancing, such percentage of LTM EBITDA restriction shall not be deemed to be exceeded so
long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced, plus premiums (including tender premiums), defeasance, costs and fees in connection with such refinancing; and

  
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 (12) the amount of Indebtedness issued at a price that is less than the principal
amount thereof will be equal to the amount of the liability in respect thereof determined on the basis of GAAP. 
 Accrual of interest,
accrual of dividends, the accretion of accreted value, the accretion or amortization of original issue discount, the payment of interest in the form of additional Indebtedness, the payment of dividends in the form of additional shares of Preferred
Stock or Disqualified Stock or the reclassification of commitments or obligations not treated as Indebtedness due to a change in GAAP, will not be deemed to be an Incurrence of Indebtedness for purposes of this Section 3.2.

 If at any time an Unrestricted Subsidiary becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be
Incurred by a Restricted Subsidiary of the Issuer as of such date (and, if such Indebtedness is not permitted to be Incurred as of such date under this Section 3.2, the Issuer shall be in default of this
Section 3.2). 
 For purposes of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the
case of term debt, or first committed, in the case of revolving credit debt; provided, that if such Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable
U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the
principal amount of such refinancing Indebtedness does not exceed (a) the principal amount of such Indebtedness being refinanced plus (b) the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums
(including, without limitation, tender premiums) and other costs and expenses (including, without limitation, original issue discount, upfront fees or similar fees) Incurred in connection with such refinancing. 

Notwithstanding any other provision of this Section 3.2, the maximum amount of Indebtedness that the Issuer or a
Restricted Subsidiary may Incur pursuant to this Section 3.2 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness Incurred to
refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such Refinancing Indebtedness is denominated that
is in effect on the date of such refinancing. 
 The Issuer shall not, and shall not permit any Co-Issuer or any Guarantor to, directly or
indirectly, Incur any Indebtedness (including Acquired Indebtedness) that is subordinated or junior in right of payment to any Indebtedness of the Issuer or such Co-Issuer or Guarantor, as the case may be,
unless such Indebtedness is expressly subordinated in right of payment to the Notes or such Guarantor’s Note Guarantee to the extent and in the same manner as such Indebtedness is subordinated to other Indebtedness of the Issuer or such Co-Issuer or Guarantor, as the case may be; provided that for purposes of this Indenture, (1) unsecured Indebtedness shall not be treated as subordinated or junior to Secured Indebtedness merely because
it is unsecured and (2) senior Indebtedness shall not be treated as subordinated or junior to any other senior Indebtedness merely because it has a junior priority with respect to the same collateral or is secured by different collateral or
because it is guaranteed by different obligors. 
 SECTION 3.3. Limitation on Restricted Payments. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries, directly or indirectly, 

to: 
 (1) declare or pay any
dividend or make any distribution on or in respect of the Issuer’s or any Restricted Subsidiary’s Capital Stock (including, without limitation, any such payment in connection with any merger or consolidation involving the Issuer or any of
its Restricted Subsidiaries) except: 
 (i) dividends or distributions payable in Capital Stock of the Issuer (other than
Disqualified Stock) or in options, warrants or other rights to purchase such Capital Stock of the Issuer; and 

  
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 (ii) dividends or distributions payable to the Issuer or a Restricted Subsidiary
(and, in the case of the Issuer or any such Restricted Subsidiary making such dividend or distribution, to holders of its Capital Stock other than the Issuer or another Restricted Subsidiary on no more than a pro rata basis); 

(2) purchase, repurchase, redeem, retire or otherwise acquire or retire for value any Capital Stock of the Issuer or any Parent
Entity held by Persons other than the Issuer or a Restricted Subsidiary; 
 (3) purchase, repurchase, redeem, defease or
otherwise acquire or retire for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Subordinated Indebtedness of the Issuer or a Restricted Subsidiary (other than (i) any such purchase, repurchase,
redemption, defeasance or other acquisition or retirement in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case, due within one year of the date of purchase, repurchase, redemption, defeasance
or other acquisition or retirement and (ii) any Indebtedness Incurred pursuant to Section 3.2(b)(3)); or 

(4) make any Restricted Investment; 

(any such dividend, distribution, purchase, redemption, repurchase, defeasance, other acquisition, retirement or Restricted Investment referred
to in clauses (1) through (4) are referred to herein as a “Restricted Payment”), if at the time the Issuer or such Restricted Subsidiary makes such Restricted Payment: 

(i) an Event of Default shall have occurred and be continuing (or would immediately thereafter result therefrom); 

(ii) except in the case of a Restricted Investment, the Issuer is not able to Incur an additional $1.00 of Indebtedness
pursuant to Section 3.2(a) immediately after giving effect, on a pro forma basis, to such Restricted Payment; or 

(iii) the aggregate amount of such Restricted Payment and all other Restricted Payments made subsequent to the Escrow Release
Date (and not returned or rescinded) (including Permitted Payments made pursuant to Sections 3.3(b)(1) (without duplication) and (10), but excluding all other Restricted Payments permitted by Section 3.3(b))
would exceed the sum of (without duplication): 
 (A) $75.0 million; 

(B) 50.0% of Consolidated Net Income for the period (treated as one accounting period) from the first day of the first fiscal
quarter in which the Issue Date occurs to the end of the most recent fiscal quarter ending prior to the date of such Restricted Payment for which internal consolidated financial statements of the Issuer are available (or, in the case such
Consolidated Net Income is a deficit, minus 100.0% of such deficit); 
 (C) 100.0% of the aggregate amount of cash,
and the fair market value of property or assets or marketable securities, received by the Issuer from the issue or sale of its Capital Stock or as the result of a merger or consolidation with another Person subsequent to the Escrow Release Date or
otherwise contributed to the equity (in each case, other than through the issuance of Disqualified Stock or Designated Preferred Stock) of the Issuer subsequent to the Issue Date (other than (x) Net Cash Proceeds or property or assets or
marketable securities received from an issuance or sale of such Capital Stock to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer or any Subsidiary of the Issuer for the benefit of their employees to the
extent funded by the Issuer or any Restricted Subsidiary, (y) cash or property or assets or marketable securities to the extent that any Restricted Payment has been made from such proceeds in reliance on
Section 3.3(b)(6) and (z) Excluded Contributions); 

  
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 (D) 100.0% of the aggregate amount of cash, and the fair market value of
property or assets or marketable securities, received by the Issuer or any Restricted Subsidiary from the issuance or sale subsequent to the Escrow Release Date (other than to the Issuer or a Restricted Subsidiary of the Issuer or an employee stock
ownership plan or trust established by the Issuer or any Subsidiary of the Issuer for the benefit of their employees to the extent funded by the Issuer or any Restricted Subsidiary) by the Issuer or any Restricted Subsidiary subsequent to the Issue
Date of any Indebtedness, Disqualified Stock or Designated Preferred Stock that has been converted into or exchanged for Capital Stock of the Issuer (other than Disqualified Stock or Designated Preferred Stock) plus, without duplication, the
amount of any cash, and the fair market value of property or assets or marketable securities, received by the Issuer or any Restricted Subsidiary upon such conversion or exchange; 

(E) 100.0% of the aggregate amount received in cash and the fair market value, as determined in good faith by the Issuer, of
marketable securities or other property received by means of: (i) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of Restricted Investments made by the Issuer or its Restricted Subsidiaries and repurchases
and redemptions of such Restricted Investments from the Issuer or its Restricted Subsidiaries and repayments of loans or advances, and releases of guarantees, which constitute Restricted Investments by the Issuer or its Restricted Subsidiaries, in
each case after the Issue Date or (ii) the sale (other than to the Issuer or a Restricted Subsidiary) of the stock of an Unrestricted Subsidiary or a distribution from an Unrestricted Subsidiary (other than to the extent of the amount of the
Investment that constituted a Permitted Investment or was made pursuant to Section 3.3(b)(17) and will increase the amount available under the applicable clause of the definition of “Permitted Investments” or
Section 3.3(b)(17), as the case may be) or a dividend from an Unrestricted Subsidiary after the Issue Date; and 

(F) in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger, amalgamation or
consolidation of an Unrestricted Subsidiary into the Issuer or a Restricted Subsidiary or the transfer of all or substantially all of the assets of an Unrestricted Subsidiary to the Issuer or a Restricted Subsidiary after the Issue Date, the fair
market value of the Investment in such Unrestricted Subsidiary (or the assets transferred), as determined in good faith by the Issuer at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary or at the time of such
merger, amalgamation or consolidation or transfer of assets (after taking into consideration any Indebtedness associated with the Unrestricted Subsidiary so designated or merged, amalgamated or consolidated or Indebtedness associated with the assets
so transferred), other than to the extent of the amount of the Investment that constituted a Permitted Investment or was made pursuant to Section 3.3(b)(17) and will increase the amount available under the applicable clause
of the definition of “Permitted Investments” or Section 3.3(b)(17), as the case may be. 
 (b) The
foregoing provisions of Section 3.3(a) will not prohibit any of the following (collectively, “Permitted Payments”): 

(1) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Indenture or the redemption, repurchase or retirement of Indebtedness if, at the date of any redemption notice, such payment would have complied with the provisions of this
Indenture as if it were and is deemed at such time to be a Restricted Payment at the time of such notice; 

  
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 (2) (a) any purchase, repurchase, redemption, defeasance or other acquisition or
retirement of Capital Stock (“Treasury Capital Stock”) or Subordinated Indebtedness made by exchange (including any such exchange pursuant to the exercise of a conversion right or privilege in connection with which cash is paid in
lieu of the issuance of fractional shares) for, or out of the proceeds of the substantially concurrent sale of, Capital Stock of the Issuer (other than Disqualified Stock or Designated Preferred Stock) (“Refunding Capital Stock”) or
a substantially concurrent contribution to the equity (other than through the issuance of Disqualified Stock or Designated Preferred Stock or through an Excluded Contribution) of the Issuer; provided, however, that to the extent so
applied, the Net Cash Proceeds, or fair market value of property or assets or of marketable securities, from such sale of Capital Stock or such contribution will be excluded from Section 3.3(a)(4)(iii) and (b) if
immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividends thereon was permitted under Section 3.3(b)(13), the declaration and payment of dividends on the Refunding Capital Stock
(other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Capital Stock of a Parent Entity) in an aggregate amount per year no greater than the aggregate amount of dividends per annum
that were declarable and payable on such Treasury Capital Stock immediately prior to such retirement; 
 (3) any purchase,
repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Indebtedness made by exchange for, or out of the proceeds of the substantially concurrent sale of, Refinancing Indebtedness permitted to be Incurred pursuant to
Section 3.2; 
 (4) any purchase, repurchase, redemption, defeasance or other acquisition or
retirement of Preferred Stock of the Issuer or a Restricted Subsidiary made by exchange for or out of the proceeds of the substantially concurrent sale of Preferred Stock of the Issuer or a Restricted Subsidiary, as the case may be, that, in each
case, is permitted to be Incurred pursuant to Section 3.2; 
 (5) any purchase, repurchase,
redemption, defeasance or other acquisition or retirement of Subordinated Indebtedness or Disqualified Stock or Preferred Stock of a Restricted Subsidiary: 

(i) from Net Available Cash to the extent permitted under Section 3.5, but only if the Issuer shall
have first complied with the terms described under Section 3.5 and purchased all Notes tendered pursuant to any offer to repurchase all the Notes required thereby, prior to purchasing, repurchasing, redeeming, defeasing or
otherwise acquiring or retiring such Subordinated Indebtedness, Disqualified Stock or Preferred Stock; or 
 (ii) to the
extent required by the agreement governing such Subordinated Indebtedness, Disqualified Stock or Preferred Stock following the occurrence of (i) a Change of Control (or other similar event described therein as a “change of control”)
or (ii) an Asset Disposition (or other similar event described therein as an “asset disposition” or “asset sale,” but only if the Issuer shall have first complied with Section 3.5 or
Section 3.9, as applicable, and purchased all Notes tendered pursuant to the offer to repurchase all the Notes required thereby, prior to purchasing, repurchasing, redeeming, defeasing or otherwise acquiring or retiring
such Subordinated Indebtedness, Disqualified Stock or Preferred Stock; or 
 (iii) consisting of Acquired Indebtedness (other
than Indebtedness Incurred (A) to provide all or any portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was otherwise acquired by the
Issuer or a Restricted Subsidiary or (B) otherwise in connection with or contemplation of such acquisition); 
 (6) a
Restricted Payment to pay for the repurchase, retirement or other acquisition or retirement for value of Capital Stock (other than Disqualified Stock) of the Issuer or of any Parent Entity held by any future, present or former employee, director,
contractor or consultant of the Issuer, any of its Subsidiaries or of any Parent Entity (or permitted transferees, assigns, estates, trusts or heirs of such employee, director, contractor or consultant) either pursuant to any management equity plan
or stock option plan or any other management or employee benefit plan or agreement or upon the termination of such 

  
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employee, director, contractor or consultant’s employment or directorship; provided, however, that the aggregate Restricted Payments made under this clause (6) do not
exceed $35.0 million in any calendar year (with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum of $70.0 million in any calendar year); provided further that such amount in
any calendar year may be increased by an amount not to exceed: 
 (i) the cash proceeds from the sale of Capital Stock (other
than Disqualified Stock or Designated Preferred Stock) of the Issuer and, to the extent contributed to the capital of the Issuer (other than through the issuance of Disqualified Stock or Designated Preferred Stock or an Excluded Contribution),
Capital Stock of any Parent Entity, in each case to members of management, directors or consultants of the Issuer, any of its Subsidiaries or any Parent Entity that occurred after the Escrow Release Date, to the extent the cash proceeds from the
sale of such Capital Stock have not otherwise been applied to the payment of Restricted Payments by virtue of Section 3.3(a)(4)(iii); plus 

(ii) the cash proceeds of key man life insurance policies received by the Issuer and its Restricted Subsidiaries after the
Escrow Release Date; less 
 (iii) the amount of any Restricted Payments made in previous calendar years pursuant to
clauses (i) and (ii) of this clause (6); 
 and provided further that cancellation of Indebtedness owing to the Issuer or any
Restricted Subsidiary from any future, present or former members of management, directors, employees, contractors or consultants of the Issuer or Restricted Subsidiaries or any Parent Entity in connection with a repurchase of Capital Stock of the
Issuer or any Parent Entity will not be deemed to constitute a Restricted Payment for purposes of this covenant or any other provision of this Indenture; 

(7) the declaration and payment of dividends on Disqualified Stock, or Preferred Stock of a Restricted Subsidiary, Incurred in
accordance with Section 3.2; 
 (8) purchases, repurchases, redemptions, defeasances or other
acquisitions or retirements of Capital Stock deemed to occur upon the exercise, conversion or exchange of stock options, warrants or other rights in respect thereof if such Capital Stock represents a portion of the exercise price thereof and
payments in respect of withholding or similar taxes payable upon exercise or vesting thereof; 
 (9) dividends, loans,
advances or distributions to any Parent Entity or other payments by the Issuer or any Restricted Subsidiary in amounts equal to (without duplication): 

(i) the amounts required for any Parent Entity to pay any Parent Entity Expenses or any Related Taxes; 

(ii) amounts constituting or to be used for purposes of making payments to the extent specified in Sections 3.8(b)(2),
(3), (5), (11) and (12); and 
 (iii) up to $25.0 million per calendar year; 

(10) (a) the declaration and payment by the Issuer of dividends on the common stock or common equity interests of the Issuer or
any Parent Entity (and any equivalent declaration and payment of a distribution of any security exchangeable for such common stock or common equity interests to the extent required by the terms of any such exchangeable securities and any Restricted
Payment to any such Parent Entity to fund the payment by such Parent Entity of dividends on such entity’s Capital Stock) following a public offering of such common stock or common equity interests (or such exchangeable securities, as
applicable), in an amount in any fiscal year not to exceed the sum of (a) 6.0% of the proceeds received by or contributed to the Parent Guarantor in or from any public offering of such common stock or common equity interests (or such exchangeable
securities, as applicable) and (b) 5% of Market Capitalization or (b) 

  
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in lieu of all or a portion of the dividends permitted by subclause (a), repurchases of the Issuer’s Capital Stock (and any equivalent declaration and payment of a distribution with respect
to any security exchangeable for such common stock or common equity interests to the extent required by the terms of any such exchangeable securities and any Restricted Payment to any such Parent Entity to fund the payment by such Parent Entity of
dividends on such entity’s Capital Stock) for aggregate consideration that, when take together with dividends permitted by subclause (a), does not exceed the amount contemplated by subclause (a); 

(11) payments by the Issuer, or loans, advances, dividends or distributions to any Parent Entity to make payments, to holders
of Capital Stock of the Issuer or any Parent Entity in lieu of the issuance of fractional shares of such Capital Stock; provided, however, that any such payment, loan, advance, dividend or distribution shall not be for the purpose of
evading any limitation of this covenant or otherwise to facilitate any dividend or other return of capital to the holders of such Capital Stock (as determined in good faith by the Board of Directors); 

(12) Restricted Payments that are made with Excluded Contributions; 

(13) (i) the declaration and payment of dividends on Designated Preferred Stock of the Issuer issued after the Escrow Release
Date; (ii) the declaration and payment of dividends to a Parent Entity in an amount sufficient to allow the Parent Entity to pay dividends to holders of its Designated Preferred Stock issued after the Escrow Release Date; and (iii) the
declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock; provided, however, that, in the case of clauses (i) and (ii), the amount of all dividends declared or paid to a Person pursuant to such
clauses shall not exceed the cash proceeds received by the Issuer or the aggregate amount contributed in cash to the equity of the Issuer (other than through the issuance of Disqualified Stock or an Excluded Contribution of the Issuer), from the
issuance or sale of such Designated Preferred Stock; provided further, in the case of clauses (i), (ii) and (iii), that for the most recently ended four fiscal quarters for which internal financial statements are available immediately
preceding the date of issuance of such Designated Preferred Stock or declaration of such dividends on such Refunding Capital Stock, after giving effect to such payment on a pro forma basis the Issuer would be permitted to Incur at least $1.00 of
additional Indebtedness pursuant to the test set forth in Section 3.2(a); 
 (14) distributions, by
dividends or otherwise, or other transfer or disposition of shares of Capital Stock of, of equity interests in, or Indebtedness owed to the Issuer or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries,
substantially all of the assets of which are cash and Cash Equivalents) or the proceeds thereof; 
 (15) distributions or payments of
Receivables Fees; 
 (16) any Restricted Payment made in connection with the Transactions and any costs and expenses
(including all legal, accounting and other professional fees and expenses) related thereto or used to fund amounts owed to Affiliates in connection with the Transactions (including dividends to any Parent Entity of the Issuer to permit payment by
such Parent Entity of such amounts), whether paid on the Issue Date or otherwise, including those amounts due in connection with any working capital or purchase price adjustments; 

(17) so long as no Event of Default has occurred and is continuing (or would result therefrom), (i) Restricted Payments
(including loans or advances) in an aggregate amount outstanding at the time made not to exceed the greater of $100.0 million and 25.0% of LTM EBITDA at such time, and (ii) any Restricted Payments, so long as, immediately after giving pro
forma effect to the payment of any such Restricted Payment and the Incurrence of any Indebtedness the net proceeds of which are used to make such Restricted Payment, the Consolidated Total Leverage Ratio shall be no greater than 5.00 to 1.00; 

(18) mandatory redemptions of Disqualified Stock issued as a Restricted Payment or as consideration for a Permitted Investment;

  
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 (19) the redemption, defeasance, repurchase, exchange or other acquisition or
retirement of Subordinated Indebtedness of the Issuer or any Guarantor in an aggregate amount at any one time outstanding taken together with all other redemptions, defeasances, repurchases, exchanges or other acquisitions or retirements of
Subordinated Indebtedness made pursuant to this clause (19) not to exceed the greater of (x) $50.0 million and (y) 15.0% of LTM EBITDA at the time of such redemption, defeasance, repurchase, exchange or other acquisition or retirement of
Subordinated Indebtedness; and 
 (20) payments or distributions to dissenting stockholders pursuant to applicable law
(including in connection with, or as a result of, exercise of appraisal rights and the settlement of any claims or action (whether actual, contingent or potential)), pursuant to or in connection with a consolidation, merger or transfer of all or
substantially all of the assets of the Issuer and its Restricted Subsidiaries, taken as a whole, that complies with the covenant described under Section 4.1. 

For purposes of determining compliance with this Section 3.3, in the event that a Restricted Payment (or portion
thereof) meets the criteria of more than one of the categories of Permitted Payments described in Sections 3.3(b)(1) through (20), or is permitted pursuant to Section 3.3(a) and/or one or more of
the clauses contained in the definition of “Permitted Investments”, the Issuer will be entitled to classify such Restricted Payment or Investment (or portion thereof) on the date of its payment or later reclassify (based on circumstances
existing on the date of such reclassification) such Restricted Payment or Investment (or portion thereof) in any manner that complies with this Section 3.3, including as an Investment pursuant to one or more of the clauses contained in
the definition of “Permitted Investments.” 
 The amount of all Restricted Payments (other than cash) shall be the fair market
value on the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Issuer or such Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. The fair market value of any
cash Restricted Payment shall be its face amount, and the fair market value of any non-cash Restricted Payment, property or assets other than cash shall be determined conclusively by the Issuer acting in good
faith. 
 SECTION 3.4. Limitation on Restrictions on Distributions from Restricted Subsidiaries. 

(a) The Issuer shall not, and shall not permit any Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective
any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 
 (1) pay dividends or
make any other distributions in cash or otherwise on its Capital Stock or pay any Indebtedness or other obligations owed to the Issuer or any Restricted Subsidiary; 

(2) make any loans or advances to the Issuer or any Restricted Subsidiary; or 

(3) sell, lease or transfer any of its property or assets to the Issuer or any Restricted Subsidiary; 

provided that (x) the priority of any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating
distributions being paid on common stock and (y) the subordination of (including the application of any standstill requirements to) loans or advances made to the Issuer or any Restricted Subsidiary to other Indebtedness Incurred by the Issuer
or any Restricted Subsidiary shall not be deemed to constitute such an encumbrance or restriction. 
 (b) The provisions of
Section 3.4(a) shall not prohibit: 
 (1) any encumbrance or restriction pursuant to (i) any
Credit Facility or (ii) any other agreement or instrument, in each case, in effect at or entered into on the Escrow Release Date; 

(2) any encumbrance or restriction pursuant to this Indenture, the Notes or the Note Guarantees; 

  
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 (3) any encumbrance or restriction pursuant to applicable law, rule, regulation or order; 

(4) any encumbrance or restriction pursuant to an agreement or instrument of a Person or relating to any Capital Stock or
Indebtedness of a Person, entered into on or before the date on which such Person was acquired by or merged, consolidated or otherwise combined with or into the Issuer or any Restricted Subsidiary, or was designated as a Restricted Subsidiary or on
which such agreement or instrument is assumed by the Issuer or any Restricted Subsidiary in connection with an acquisition of assets (other than Capital Stock or Indebtedness Incurred as consideration in, or to provide all or any portion of the
funds utilized to consummate, the transaction or series of related transactions pursuant to which such Person became a Restricted Subsidiary or was acquired by the Issuer or was merged, consolidated or otherwise combined with or into the Issuer or
any Restricted Subsidiary or entered into in contemplation of or in connection with such transaction) and outstanding on such date; provided that, for the purposes of this clause (4), if another Person is the Successor Company, any Subsidiary
thereof or agreement or instrument of such Person or any such Subsidiary shall be deemed acquired or assumed by the Issuer or any Restricted Subsidiary when such Person becomes the Successor Company; 

(5) any encumbrance or restriction: (i) that restricts in a customary manner the subletting, assignment or transfer of any
property or asset that is subject to a lease, license or similar contract or agreement, or the assignment or transfer of any lease, license or other contract or agreement; (ii) contained in mortgages, pledges, charges or other security
agreements permitted under this Indenture or securing Indebtedness of the Issuer or a Restricted Subsidiary permitted under this Indenture to the extent such encumbrances or restrictions restrict the transfer or encumbrance of the property or assets
subject to such mortgages, pledges, charges or other security agreements; (iii) contained in any trading, netting, operating, construction, service, supply, purchase, sale or other agreement to which the Issuer or any of its Restricted
Subsidiaries is a party entered into in the ordinary course of business or consistent with past practice; provided that such agreement prohibits the encumbrance of solely the property or assets of the Issuer or such Restricted
Subsidiary that are the subject of such agreement, the payment rights arising thereunder or the proceeds thereof and does not extend to any other asset or property of the Issuer or such Restricted Subsidiary or the assets or property of another
Restricted Subsidiary; or (iv) pursuant to customary provisions restricting dispositions of real property interests set forth in any reciprocal easement agreements of the Issuer or any Restricted Subsidiary; 

(6) any encumbrance or restriction pursuant to Purchase Money Obligations and Capitalized Lease Obligations permitted under
this Indenture, in each case, that impose encumbrances or restrictions on the property so acquired; 
 (7) any encumbrance or
restriction imposed pursuant to an agreement entered into for the direct or indirect sale or disposition to a Person of all or substantially all the Capital Stock or assets of the Issuer or any Restricted Subsidiary (or the property or assets that
are subject to such restriction) pending the closing of such sale or disposition; 
 (8) customary provisions in leases,
licenses, shareholder agreements, joint venture agreements and other similar agreements, organizational documents and instruments; 

(9) encumbrances or restrictions arising or existing by reason of applicable law or any applicable rule, regulation or order,
or required by any regulatory authority; 
 (10) any encumbrance or restriction on cash or other deposits or net worth
imposed by customers under agreements entered into in the ordinary course of business or consistent with past practice; 
 (11) any
encumbrance or restriction pursuant to Hedging Obligations; 
 (12) other Indebtedness, Disqualified Stock or Preferred Stock
of Foreign Subsidiaries permitted to be Incurred or issued subsequent to the Escrow Release Date pursuant Section 3.2 that impose restrictions solely on the Foreign Subsidiaries party thereto or their Subsidiaries; 

  
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 (13) restrictions created in connection with any Receivables Facility that, in
the good faith determination of the Issuer, are necessary or advisable to effect such Receivables Facility; 
 (14) any
encumbrance or restriction arising pursuant to an agreement or instrument relating to any Indebtedness, permitted to be Incurred subsequent to the Issue Date pursuant to Section 3.2 if the encumbrances and restrictions
contained in any such agreement or instrument taken as a whole are not materially less favorable to the Holders than (i) the encumbrances and restrictions contained in the Credit Agreements, together with the security documents associated
therewith as in effect on the Escrow Release Date or (ii) in comparable financings (as determined in good faith by the Issuer) and where, in the case of clause(ii), either (A) the Issuer determines at the time of entry into such agreement
or instrument that such encumbrances or restrictions will not adversely affect, in any material respect, the Issuer’s ability to make principal or interest payments on the Notes or (B) such encumbrance or restriction applies only during
the continuance of a default relating to such agreement or instrument; 
 (15) any encumbrance or restriction existing by
reason of any lien permitted under Section 3.6; or 
 (16) any encumbrance or restriction pursuant
to an agreement or instrument effecting a refinancing of Indebtedness Incurred pursuant to, or that otherwise refinances, an agreement or instrument referred to in clauses (1) to (15) of this Section 3.4(b) or this
clause (16) (an “Initial Agreement”) or contained in any amendment, supplement or other modification to an agreement referred to in clauses (1) to (15) of this Section 3.4(b) or this clause (16);
provided, however, that the encumbrances and restrictions with respect to such Restricted Subsidiary contained in any such agreement or instrument are no less favorable in any material respect to the Holders taken as a whole than the
encumbrances and restrictions contained in the Initial Agreement or Initial Agreements to which such refinancing or amendment, supplement or other modification relates (as determined in good faith by the Issuer). 

SECTION 3.5. Limitation on Sales of Assets and Subsidiary Stock. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, make any Asset Disposition unless: 

(1) the Issuer or such Restricted Subsidiary, as the case may be, receives consideration (including by way of relief from, or
by any other Person assuming responsibility for, any liabilities, contingent or otherwise) at least equal to the fair market value (such fair market value to be determined on the date of contractually agreeing to such Asset Disposition), as
determined in good faith by the Issuer, of the shares and assets subject to such Asset Disposition (including, for the avoidance of doubt, if such Asset Disposition is a Permitted Asset Swap); 

(2) in any such Asset Disposition, or series of related Asset Dispositions (except to the extent the Asset Disposition is a
Permitted Asset Swap), at least 75.0% of the consideration from such Asset Disposition, together with all other Asset Dispositions since the Escrow Release Date (on a cumulative basis) (including by way of relief from, or by any other Person
assuming responsibility for, any liabilities, contingent or otherwise), received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; and 

(3) an amount equal to 100.0% of the Net Available Cash from such Asset Disposition is applied: 

(i) to the extent the Issuer or any Restricted Subsidiary, as the case may be, elects (or is required by the terms of any
Indebtedness), (A) to prepay, repay or purchase any Indebtedness of a Non-Guarantor (in each case, other than Indebtedness owed to the Issuer or any Restricted Subsidiary) or any Secured Indebtedness;
including Indebtedness under the Credit Agreements (or any Refinancing Indebtedness in respect thereof) within 450 days from the later of (a) the date of such Asset Disposition and (b) the receipt of such Net Available Cash;
provided, however, that, in 

  
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connection with any prepayment, repayment or purchase of Indebtedness pursuant to this clause (i), the Issuer or such Restricted Subsidiary will retire such Indebtedness and will cause the
related commitment (if any) to be reduced in an amount equal to the principal amount so prepaid, repaid or purchased; or (B) to prepay, repay or purchase Pari Passu Indebtedness; provided further that, to the extent the Issuer redeems,
repays or repurchases Pari Passu Indebtedness pursuant to this clause (B), the Issuer shall equally and ratably reduce Obligations under the Notes as provided under Section 5.7, through open-market purchases or by making an
offer (in accordance with the procedures set forth below for an Asset Disposition Offer) to all Holders to purchase their Notes at 100.0% of the principal amount thereof, plus the amount of accrued but unpaid interest, if any, on the amount of Notes
that would otherwise be prepaid; and 
 (ii) to the extent the Issuer or any Restricted Subsidiary elects, to invest in or
commit to invest in Additional Assets (including by means of an investment in Additional Assets by a Restricted Subsidiary equal to the amount of Net Available Cash received by the Issuer or another Restricted Subsidiary) within 450 days from the
later of (A) the date of such Asset Disposition and (B) the receipt of such Net Available Cash; provided, however, that a binding agreement shall be treated as a permitted application of Net Available Cash from the date of
such commitment with the good faith expectation that an amount equal to Net Available Cash will be applied to satisfy such commitment within 180 days of such commitment (an “Acceptable Commitment”) and, in the event of any
Acceptable Commitment is later cancelled or terminated for any reason before such amount is applied in connection therewith, the Issuer or such Restricted Subsidiary enters into another Acceptable Commitment (a “Second Commitment”)
within 180 days of such cancellation or termination; provided further that if any Second Commitment is later cancelled or terminated for any reason before such amount is applied, then such Net Available Cash shall constitute Excess Proceeds;

 provided that, pending the final application of the amount of any such Net Available Cash in accordance with clause (i) or (ii) above,
the Issuer and its Restricted Subsidiaries may temporarily reduce Indebtedness or otherwise use such Net Available Cash in any manner not prohibited by this Indenture. 

(b) The amount of any Net Available Cash from Asset Dispositions that is not applied or invested or committed to be applied or invested as
provided in the preceding paragraph will be deemed to constitute “Excess Proceeds” under this Indenture. On the 451st day after the later of an Asset Disposition or the receipt of such Net Available Cash, if the aggregate
amount of Excess Proceeds under this Indenture exceeds $100.0 million, the Issuer will within 10 Business Days be required to make an offer (“Asset Disposition Offer”) to all Holders of Notes issued under this Indenture and, to
the extent the Issuer elects, to all holders of other outstanding Pari Passu Indebtedness, to purchase the maximum principal amount of Notes and any such Pari Passu Indebtedness to which the Asset Disposition Offer applies that may be purchased out
of the Excess Proceeds, at an offer price in respect of the Notes in an amount equal to 100.0% of the principal amount of the Notes and Pari Passu Indebtedness, in each case, plus accrued and unpaid interest, if any, to, but not including, the date
of purchase, in accordance with the procedures set forth in this Indenture or the agreements governing the Pari Passu Indebtedness, as applicable, and, with respect to the Notes, in minimum denominations of $2,000 and in integral multiples of $1,000
in excess thereof. The Issuer will deliver notice of such Asset Disposition Offer electronically or by first-class mail, with a copy to the Trustee, the Paying Agent and each Holder of Notes at the address of such Holder appearing in the security
register or otherwise in accordance with the applicable procedures of DTC, describing the transaction or transactions that constitute the Asset Disposition and offering to repurchase the Notes for the specified purchase price on the date specified
in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is delivered, pursuant to the procedures required by this Indenture and described in such notice. The Issuer may satisfy the foregoing
obligations with respect to any Net Available Cash from an Asset Disposition by making an Asset Disposition Offer with respect to all Net Available Cash prior to the expiration of the relevant 450 days (or such longer period provided above) or with
respect to any unapplied Excess Proceeds. 
 (c) To the extent that the aggregate amount of Notes and Pari Passu Indebtedness so validly
tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for any purpose not prohibited in this Indenture. If the aggregate principal amount of the
Notes surrendered in any Asset Disposition Offer by Holders and other Pari Passu Indebtedness 

  
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surrendered by holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Issuer shall allocate the Excess Proceeds among the Notes and Pari Passu Indebtedness to be purchased
on a pro rata basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu Indebtedness; provided that no Notes or other Pari Passu Indebtedness will be selected and purchased in an unauthorized denomination. Upon
completion of any Asset Disposition Offer, the amount of Excess Proceeds shall be reset at zero. Additionally, the Issuer may, at its option, make an Asset Disposition Offer using proceeds from any Asset Disposition at any time after the
consummation of such Asset Disposition. Upon consummation or expiration of any Asset Disposition Offer, any remaining Net Available Cash shall not be deemed Excess Proceeds and the Issuer may use such Net Available Cash for any purpose not
prohibited by this Indenture. To the extent that any portion of Net Available Cash payable in respect of the Notes is denominated in a currency other than U.S. dollars, the amount thereof payable in respect of the Notes shall not exceed the net
amount of funds in U.S. dollars that is actually received by the Issuer upon converting such portion into U.S. dollars. 
 (d)
Notwithstanding any other provisions of this Section 3.5, 
 (i) to the extent that any of or all
the Net Available Cash of any Asset Disposition by a Foreign Subsidiary (a “Foreign Disposition”) is (x) prohibited or delayed by applicable local law, (y) restricted by applicable organizational documents or any agreement
or (z) subject to other onerous organizational or administrative impediments from being repatriated to the United States, the portion of such Net Available Cash so affected will not be required to be applied in compliance with this covenant,
and such amounts may be retained by the applicable Foreign Subsidiary so long, but only so long, as the applicable local law documents or agreements will not permit repatriation to the United States (the Issuer hereby agreeing to use reasonable
efforts (as determined in the Issuer’s reasonable business judgment) to otherwise cause the applicable Foreign Subsidiary to within one year following the date on which the respective payment would otherwise have been required, promptly take
all actions reasonably required by the applicable local law, applicable organizational impediments or other impediment to permit such repatriation), and if within one year following the date on which the respective payment would otherwise have been
required such repatriation of any of such affected Net Available Cash is permitted under the applicable local law, applicable organizational impediment or other impediment, such repatriation will be promptly effected and the amount of such
repatriated Net Available Cash will be promptly (and in any event not later than five (5) Business Days after such repatriation could be made) applied (net of additional Taxes payable or reserved against as a result thereof) (whether or not
repatriation actually occurs) in compliance with this Section 3.5; and 
 (ii) to the extent that
the Issuer has determined in good faith that repatriation of any of or all the Net Available Cash of any Foreign Disposition would have an adverse Tax consequence (which for the avoidance of doubt, includes, but is not limited to, any prepayment
whereby doing so the Issuer, any Restricted Subsidiary, or any of their respective affiliates and/or equity owners would incur a tax liability, including a tax dividend, deemed dividend pursuant to Code Section 956 or a withholding tax), the
Net Available Cash so affected may be retained by the applicable Foreign Subsidiary. The non-application of any prepayment amounts as a consequence of the foregoing provisions will not, for the avoidance of
doubt, constitute a Default or an Event of Default. 
 (e) For the purposes of Section 3.5(a)(2) hereof, the
following will be deemed to be cash: 
 (1) the assumption by the transferee of Indebtedness or other liabilities contingent
or otherwise of the Issuer or a Restricted Subsidiary (other than Subordinated Indebtedness of the Issuer, a Co-Issuer or a Guarantor) and the release of the Issuer or such Restricted Subsidiary from all
liability on such Indebtedness or other liability in connection with such Asset Disposition; 
 (2) securities, notes or
other obligations received by the Issuer or any Restricted Subsidiary from the transferee that are converted by the Issuer or such Restricted Subsidiary into cash or Cash Equivalents within 180 days following the closing of such Asset Disposition;

  
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 (3) Indebtedness of any Restricted Subsidiary that is no longer a Restricted
Subsidiary as a result of such Asset Disposition, to the extent that the Issuer and each other Restricted Subsidiary are released from any Guarantee of payment of such Indebtedness in connection with such Asset Disposition; 

(4) consideration consisting of Indebtedness of the Issuer (other than Subordinated Indebtedness) received after the Escrow
Release Date from Persons who are not the Issuer or any Restricted Subsidiary; and 
 (5) any Designated Non-Cash Consideration received by the Issuer or any Restricted Subsidiary in such Asset Dispositions having an aggregate fair market value, taken together with all other Designated
Non-Cash Consideration received pursuant to this covenant that is at that time outstanding, not to exceed the greater of $125.0 million and 4.0% of Total Assets (with the fair market value of each item of
Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value). 

(f) To the extent that the provisions of any securities laws, rules or regulations, including Rule
14e-1 under the Exchange Act, conflict with the provisions of this Indenture, the Issuer will comply with the applicable securities laws, rules and regulations and shall not be deemed to have breached its
obligations described in this Indenture by virtue thereof. 
 (g) The provisions of this Indenture relative to the Issuer’s obligation
to make an offer to repurchase the Notes as a result of an Asset Disposition may be waived or modified with the written consent of the Holders of a majority in aggregate principal amount of the outstanding Notes. 

SECTION 3.6. Limitation on Liens. The Issuer shall not, and shall not permit any Co-Issuer or
Guarantor to, directly or indirectly, create, Incur or permit to exist any Lien (except Permitted Liens) (each, an “Initial Lien”) that secures obligations under any Indebtedness or any related guarantee, on any asset or property of
the Issuer or any Co-Issuer or Guarantor, unless: 
 (1) in the case of Liens
securing Subordinated Indebtedness, the Notes and related Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or 

(2) in all other cases, the Notes or the Guarantees are equally and ratably secured, 

except that the foregoing shall not apply to any Liens securing the Notes and the related Guarantees. 

Any Lien created for the benefit of the Holders pursuant to the preceding sentence shall provide by its terms that such Lien shall be
automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien. 
 With respect to any Lien
securing Indebtedness that was permitted to secure such Indebtedness at the time of the Incurrence of such Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. The “Increased Amount”
of any Indebtedness shall mean any increase in the amount of such Indebtedness 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 Indebtedness with the same terms, accretion of original issue discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in
the value of property securing Indebtedness. 
 SECTION 3.7. Limitation on Guarantees. 

(a) The Issuer shall not permit any of its Wholly-Owned Domestic Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Domestic Subsidiaries if such non-Wholly Owned Domestic Subsidiaries guarantee, or are a co-issuer of, other capital
markets debt securities of the Issuer, a Co-Issuer or a Guarantor or guarantee all or a portion of, or are a co-borrower under, the Credit Agreements), other than a Co-Issuer or a Guarantor, to guarantee the payment of any Indebtedness of the Issuer, a Co-Issuer or any Guarantor unless: 

  
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 (1) such Restricted Subsidiary within 60 days executes and delivers a
supplemental indenture to this Indenture providing for a Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of Indebtedness of the Issuer, a Co-Issuer or any Guarantor, if such
Indebtedness is by its express terms subordinated in right of payment to the Notes or such Guarantor’s Note Guarantee, any such guarantee by such Restricted Subsidiary with respect to such Indebtedness shall be subordinated in right of payment
to such Guarantee substantially to the same extent as such Indebtedness is subordinated to the Notes or such Guarantor’s Guarantee of the Notes; and 

(2) such Restricted Subsidiary waives and will not in any manner whatsoever claim or take the benefit or advantage of, any
rights of reimbursement, indemnity or subrogation or any other rights against the Issuer or any other Restricted Subsidiary as a result of any payment by such Restricted Subsidiary under its Guarantee until payment in full of Obligations under this
Indenture. 
 provided that this Section 3.7 shall not be applicable (i) to any guarantee of any
Restricted Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary, or (ii) in the event that the
Guarantee of the Issuers’ obligations under the Notes or this Indenture by such Subsidiary would not be permitted under applicable law. 

(b) The Issuer may elect, in its sole discretion, to cause any Subsidiary that is not otherwise required to be a Guarantor to become a
Guarantor, in which case, such Subsidiary shall not be required to comply with the 60-day period described in Section 3.7(a). 

(c) If any Guarantor becomes an Immaterial Subsidiary, the Issuer shall have the right, by execution and delivery of a supplemental indenture
to the Trustee, to cause such Immaterial Subsidiary to cease to be a Guarantor, subject to the requirement described in the first paragraph above that such Subsidiary shall be required to become a Guarantor if it ceases to be an Immaterial
Subsidiary (except that if such Subsidiary has been properly designated as an Unrestricted Subsidiary it shall not be so required to become a Guarantor or execute a supplemental indenture); provided, further, that such Immaterial
Subsidiary shall not be permitted to Guarantee the Credit Agreements or other Indebtedness of the Issuer or the other Guarantors, unless it again becomes a Guarantor. 

SECTION 3.8. Limitation on Affiliate Transactions. 

(a) The Issuer shall not, and shall not permit any Restricted Subsidiary to enter into or conduct any transaction (including the purchase,
sale, lease or exchange of any property or the rendering of any service) with any Affiliate of the Issuer (an “Affiliate Transaction”) involving aggregate value in excess of $25.0 million, unless: 

(1) the terms of such Affiliate Transaction taken as a whole are not materially less favorable to the Issuer or such Restricted
Subsidiary, as the case may be, than those that could be obtained in a comparable transaction at the time of such transaction or the execution of the agreement providing for such transaction in arm’s length dealings with a Person who is not
such an Affiliate; and 
 (2) in the event such Affiliate Transaction involves an aggregate value in excess of
$50.0 million, the terms of such transaction have been approved by a majority of the members of the Board of Directors. 
 Any Affiliate Transaction
shall be deemed to have satisfied the requirements set forth in clause (2) of this Section 3.8(a) if such Affiliate Transaction is approved by a majority of the Disinterested Directors, if any. 

(b) The provisions of Section 3.8(a) above shall not apply to: 

(1) any Restricted Payment permitted to be made pursuant to Section 3.3, or any Permitted Investment;

  
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 (2) any issuance or sale of Capital Stock, options, other equity-related
interests or other securities, or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, or entering into, or maintenance of, any employment, consulting, collective bargaining or benefit plan, program,
agreement or arrangement, related trust or other similar agreement and other compensation arrangements, options, warrants or other rights to purchase Capital Stock of the Issuer, any Restricted Subsidiary or any Parent Entity, restricted stock
plans, long-term incentive plans, stock appreciation rights plans, participation plans or similar employee benefits or consultants’ plans (including valuation, health, insurance, deferred compensation, severance, retirement, savings or similar
plans, programs or arrangements) or indemnities provided on behalf of officers, employees, directors, contractors or consultants approved by the Board of Directors of the Issuer, in each case in the ordinary course of business or consistent with
past practice; 
 (3) any Management Advances and any waiver or transaction with respect thereto; 

(4) (a) any transaction between or among the Issuer and any Restricted Subsidiary (or entity that becomes a Restricted
Subsidiary as a result of such transaction), or between or among Restricted Subsidiaries and (b) any merger, amalgamation or consolidation with any Parent Entity, provided that such Parent Entity shall have no material liabilities and no
material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger, amalgamation or consolidation is otherwise permitted under this Indenture; 

(5) the payment of compensation, fees and reimbursement of expenses to, and customary indemnities (including under customary
insurance policies) and employee benefit and pension expenses provided on behalf of future, current or former directors, officers, contractors, consultants, distributors or employees of the Issuer, any Parent Entity or any Restricted Subsidiary
(whether directly or indirectly and including through any Controlled Investment Affiliate of such directors, officers, contractors, consultants, distributors or employees); 

(6) the entry into and performance of obligations of the Issuer or any of its Restricted Subsidiaries under the terms of any
transaction arising out of, and any payments pursuant to or for purposes of funding, any agreement or instrument in effect as of or on the Escrow Release Date, as these agreements and instruments may be amended, modified, supplemented, extended,
renewed or refinanced from time to time in accordance with the other terms of this covenant or to the extent not more disadvantageous to the Holders in any material respect; 

(7) sales of accounts receivable, or participations therein, in connection with any Receivables Facility; 

(8) transactions with customers, clients, joint venture partners, suppliers, contractors, distributors or purchasers or sellers
of goods or services, in each case in the ordinary course of business or consistent with past practice, which are fair to the Issuer or the relevant Restricted Subsidiary in the reasonable determination of the Board of Directors or the senior
management of the Issuer or the relevant Restricted Subsidiary, or are on terms no less favorable than those that could reasonably have been obtained at such time from an unaffiliated party; 

(9) any transaction between or among the Issuer or any Restricted Subsidiary and any Person that is an Affiliate of the Issuer
or an Associate or similar entity solely because the Issuer or a Restricted Subsidiary or any Affiliate of the Issuer or a Restricted Subsidiary or any Affiliate of any Permitted Holder owns an equity interest in or otherwise controls such
Affiliate, Associate or similar entity; 
 (10) issuances or sales of Capital Stock (other than Disqualified Stock or
Designated Preferred Stock) of the Issuer or options, warrants or other rights to acquire such Capital Stock and the granting of registration and other customary rights in connection therewith or any contribution to capital of the Issuer or any
Restricted Subsidiary; 

  
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 (11) (i) payments by the Issuer or any Restricted Subsidiary to any Permitted
Holder (whether directly or indirectly), including to its affiliates or designees, of annual management fees in an aggregate amount not to exceed the greater of $6.0 million and 1.5% of LTM EBITDA, consulting or monitoring, refinancing,
transaction, subsequent transaction exit fees, advisory fees and related costs and expenses and indemnitees in connection therewith and any termination fees (including any such cash lump sum or present value fee upon the consummation of a corporate
event, including an initial public offering) and (ii) customary payments by the Issuer or any Restricted Subsidiary to any Permitted Holder (whether directly or indirectly, including through any Parent Entity) for financial advisory, financing,
underwriting or placement services or in respect of other investment banking activities, including in connection with acquisitions or divestitures, which payments are approved by a majority of the Board of Directors in good faith; 

(12) payment to any Permitted Holder of all out of pocket expenses Incurred by such Permitted Holder in connection with its
direct or indirect investment in the Issuer and its Subsidiaries; 
 (13) the Transactions and the payment of all costs and
expenses (including all legal, accounting and other professional fees and expenses) related to the Transactions, whether paid on the Issue Date or otherwise, including those amounts due in connection with any working capital or purchase price
adjustments; 
 (14) transactions in which the Issuer or any Restricted Subsidiary, as the case may be, delivers to the
Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or meets the requirements of Section 3.8(a)(1); 

(15) the existence of, or the performance by the Issuer or any Restricted Subsidiary of its obligations under the terms of, any
equityholders agreement (including any registration rights agreement or purchase agreements related thereto) to which it is party as of the Escrow Release Date and any similar agreement that it may enter into thereafter, including indemnities
related thereto; provided, however, that the existence of, or the performance by the Issuer or any Restricted Subsidiary of its obligations under any future amendment to the equityholders’ agreement or under any similar agreement
entered into after the Escrow Release Date will only be permitted under this clause (15) to the extent that the terms of any such amendment or new agreement are not otherwise disadvantageous to the Holders in any material respect; 

(16) any purchase by the Issuer’s Affiliates of Indebtedness or Disqualified Stock of the Issuer or any of their
Restricted Subsidiaries the majority of which Indebtedness or Disqualified Stock is purchased by Persons who are not the Issuer’s Affiliates; provided that such purchases by the Issuer’s Affiliates are on the same terms as such
purchases by such Persons who are not the Issuer’s Affiliates; 
 (17) (i) investments by Affiliates in securities of
the Issuer or any of its Restricted Subsidiaries (and payment of reasonable out-of-pocket expenses incurred by such Affiliates in connection therewith) so long as the
investment is being offered by the Issuer or such Restricted Subsidiary generally to other non-affiliated third party investors on the same or more favorable terms and (ii) payments to Affiliates in
respect of securities of the Issuer or any of its Restricted Subsidiaries contemplated in the foregoing subclause (i) or that were acquired from Persons other than the Issuer and its Restricted Subsidiaries, in each case, in accordance with the
terms of such securities; 
 (18) payments by the Issuer (and any Parent Entity) and its Restricted Subsidiaries pursuant to
any tax sharing agreements or other equity agreements in respect of “Related Taxes” among the Issuer (and any such Parent Entity) and its Restricted Subsidiaries on customary terms to the extent attributable to the ownership or operation
of the Issuer and its Subsidiaries; 
 (19) payments, Indebtedness and Disqualified Stock (and cancellation of any thereof)
of the Issuer and its Restricted Subsidiaries and Preferred Stock (and cancellation of any thereof) of any Restricted Subsidiary to any future, current or former employee, director, officer, contractor or consultant (or their respective Controlled
Investment Affiliates or Immediate Family Members) of the Issuer, any of 

  
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its Subsidiaries or any of its Parent Entities pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription
or shareholder agreement; and any employment agreements, stock option plans and other compensatory arrangements (and any successor plans thereto) and any supplemental executive retirement benefit plans or arrangements with any such employees,
directors, officers, contractors or consultants (or their respective Controlled Investment Affiliates or Immediate Family Members) that are, in each case, approved by the Issuer in good faith; 

(20) employment and severance arrangements between the Issuer or its Restricted Subsidiaries and their respective officers,
directors, contractors, consultants, distributors and employees in the ordinary course of business or entered into in connection with the Transactions; 

(21) any transition services arrangement, supply arrangement or similar arrangement entered into in connection with or in
contemplation of the disposition of assets or Capital Stock in any Restricted Subsidiary permitted under Section 3.5 or entered into with any Business Successor, in each case, that the Issuer determines in good faith is
either fair to the Issuer or otherwise on customary terms for such type of arrangements in connection with similar transactions; 

(22) transactions entered into by an Unrestricted Subsidiary with an Affiliate prior to the day such Unrestricted Subsidiary is
redesignated as a Restricted Subsidiary as described in Section 3.20 and pledges of Capital Stock of Unrestricted Subsidiaries; 

(23) any lease entered into between the Issuer or any Restricted Subsidiary, as lessee, and any Affiliate of the Issuer, as
lessor, which is approved by a majority of the Disinterested Directors; 
 (24) intellectual property licenses in the ordinary course of
business; 
 (25) payments to or from, and transactions with, any joint venture in the ordinary course of business or
consistent with past practice (including any cash management activities related thereto); and 
 (26) any Permitted Tax Restructuring. 

SECTION 3.9. Change of Control. 

(a) If a Change of Control occurs, unless the Issuer has previously or substantially concurrently therewith delivered a redemption notice with
respect to all of the outstanding Notes as set forth under Section 5.7(a) or Section 5.7(d), the Issuer shall make an offer to purchase all of the Notes pursuant to the offer (the “Change
of Control Offer”) at a price in cash (the “Change of Control Payment”) equal to 101.0% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to but excluding the date of repurchase;
provided that if the repurchase date is on or after the record date and on or before the corresponding interest payment date, then Holders in whose name the Notes are registered at the close of business on such record date will receive interest on
the repurchase date. Within 30 days following any Change of Control, the Issuer will deliver or cause to be delivered notice of such Change of Control Offer electronically in accordance with the applicable procedures of DTC or by first class mail,
with a copy to the Trustee, to each Holder of Notes at the address of such Holder appearing in the security register or otherwise in accordance with the applicable procedures of DTC, with the following information: 

(1) that a Change of Control Offer is being made pursuant to this Section 3.9, and that all Notes
properly tendered pursuant to such Change of Control Offer will be accepted for payment by the Issuer; 
 (2) the purchase
price and the purchase date, which will be no earlier than 30 days nor later than 60 days from the date such notice is delivered (the “Change of Control Payment Date”); 

(3) that any Note not properly tendered will remain outstanding and continue to accrue interest; 

  
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 (4) that unless the Issuer defaults in the payment of the Change of Control
Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest, on the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such
Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, to the Paying Agent specified in the notice at the address specified in the notice prior to the close of business on the third
Business Day preceding the Change of Control Payment Date, or otherwise comply with DTC procedures; 
 (6) that Holders will
be entitled to withdraw their tendered Notes and their election to require the Issuer to purchase such Notes; provided that the Paying Agent receives, not later than the close of business on the second Business Day prior to the expiration
date of the Change of Control Offer, a telegram, facsimile transmission or letter setting forth the name of the Holder of the Notes, the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing its tendered
Notes and its election to have such Notes purchased, or otherwise comply with DTC procedures; 
 (7) that Holders whose Notes
are being purchased only in part will be issued new Notes and such new Notes will be equal in principal amount to the unpurchased portion of the Notes surrendered. The unpurchased portion of the Notes must be equal to at least $2,000 or any integral
multiple of $1,000 in excess of $2,000; 
 (8) if such notice is delivered prior to the occurrence of a Change of Control,
stating that the Change of Control Offer is conditional on the occurrence of such Change of Control; and 
 (9) the other
instructions, as determined by the Issuer, consistent with this Section 3.9, that a Holder must follow. 
 The
Paying Agent will promptly deliver to each Holder of the Notes tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in
principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note will be in a minimum principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Issuer will publicly
announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
 If the Change
of Control Payment Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid interest will be paid on the repurchase date to the Person in whose name a Note is registered at the close of
business on such record date. 
 (b) On the Change of Control Payment Date, the Issuer will, to the extent permitted by law, 

(1) accept for payment all Notes issued by it or portions thereof properly tendered pursuant to the Change of Control Offer,

 (2) deposit with the Paying Agent an amount equal to the aggregate Change of Control Payment in respect of all Notes or
portions thereof so tendered, and 
 (3) deliver, or cause to be delivered, to the Trustee for cancellation the Notes so
accepted together with an Officer’s Certificate to the Trustee stating that such Notes or portions thereof have been tendered to and purchased by the Issuer. 

(c) The Issuer will not be required to make a Change of Control Offer following a Change of Control if (x) a third party makes the Change
of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under
such Change of Control Offer or (y) a 

  
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notice of redemption of all outstanding Notes has been given pursuant to Section 5.7 hereof unless and until there is a default in the payment of the redemption price on
the applicable redemption date or the redemption is not consummated due to the failure of a condition precedent contained in the applicable redemption notice to be satisfied. 

(d) Notwithstanding anything to the contrary in this Section 3.9, a Change of Control Offer may be made in advance of
a Change of Control, conditional upon such Change of Control. 
 (e) [Reserved] 

(f) While the Notes are in global form and the Issuer makes an offer to purchase all of the Notes pursuant to the Change of Control Offer, a
Holder may exercise its option to elect for the purchase of the Notes through the facilities of DTC, subject to its rules and regulations. 

(g) The Issuer will comply, to the extent applicable, with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws, rules and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to a Change of Control Offer. To the extent that the
provisions of any securities laws, rules or regulations conflict with the provisions of this Indenture, the Issuer will comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in
this Indenture by virtue thereof. 
 SECTION 3.10. Reports. 

(a) Notwithstanding that the Issuer may not be subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or
otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations promulgated by the SEC, from and after the Escrow Release Date, the Issuer shall furnish to the Trustee,
within 15 days after the time periods specified below: 
 (1) within 100 days (120 days in the case of the fiscal year
containing the Escrow Release Date) after the end of each fiscal year, all financial information that would be required to be contained in an annual report on Form 10-K, or any successor or comparable form,
filed with the SEC, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and a report on the annual financial statements by the Issuer’s independent registered public accounting
firm; 
 (2) within 55 days (60 days in the case of the first three fiscal quarters after the Escrow Release Date) after the
end of each of the first three fiscal quarters of each fiscal year, all financial information that would be required to be contained in a quarterly report on Form 10-Q, or any successor or comparable form,
filed with the SEC, including (A) a “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and (B) financial statements prepared in accordance with GAAP; and 

(3) promptly after the occurrence of any of the following events, all current reports that would be required to be filed with
the SEC on Form 8-K or any successor or comparable form (if the Issuer had been a reporting company under Section 15(d) of the Exchange Act); provided, that the foregoing shall not obligate the
Issuer to make available (i) any information otherwise required to be included on a Form 8-K regarding the occurrence of any such events if the Issuer determines in its good faith judgment that such event
that would otherwise be required to be disclosed is not material to the Holders or the business, assets, operations, financial positions or prospects of the Issuer and its Restricted Subsidiaries taken as a whole, (ii) a summary of the terms of, any
employment or compensatory arrangement, agreement, plan or understanding between the Issuer (or any of its Subsidiaries) and any director, manager or executive officer of the Issuer (or any of its Subsidiaries) or (iii) copies of any
agreements, financial statements or other items that would be required to be filed as exhibits to a current report on Form 8-K (except for (x) material Indebtedness and (y) historical and pro forma
financial statements to the extent reasonably available): 
  

	 	(A)	the entry into or termination of material agreements; 

  
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	 	(B)	significant acquisitions or dispositions; 

  

	 	(C)	bankruptcy; 

  

	 	(D)	cross-default under direct material financial obligations; 

  

	 	(E)	a change in the Issuer’s certifying independent auditor; 

  

	 	(F)	the appointment or departure of directors or executive officers; 

  

	 	(G)	non-reliance on previously issued financial statements; and 

  

	 	(H)	change of control transactions, 

 in each case, in a manner that complies in all material respects with the
requirements specified in such form, except as described above or below and subject to exceptions consistent with the presentation of information in the Offering Circular; provided, however, that the Issuer shall not be required
(i) comply with Regulation G under the Exchange Act or Item 10(e) of Regulation S-K with respect to any “non-GAAP” financial information contained
therein, (ii) provide any information that is not otherwise similar to information currently included in the Offering Circular or (iii) provide separate financial statements or other information contemplated by Rules 3-09, 3-10 or 3-16 of Regulation S-X, or in each case any successor provisions or any schedules
required by Regulation S-X. In addition, notwithstanding the foregoing, the Issuer will not be required to (i) comply with Sections 302, 906 and 404 of the Sarbanes-Oxley Act of 2002, as amended, or
(ii) otherwise furnish any information, certificates or reports required by Items 307 or 308 of Regulation S-K. To the extent any such information is not so filed or furnished, as applicable, within the
time periods specified above and such information is subsequently filed or furnished, as applicable, the Issuer will be deemed to have satisfied its obligations with respect thereto at such time and any Default with respect thereto shall be deemed
to have been cured; provided that such cure shall not otherwise affect the rights of the Holders under Section 6.1 hereof if Holders of at least 30.0% in aggregate principal amount of the outstanding Notes have
declared the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Notes to be due and payable immediately and such declaration shall not have been rescinded or cancelled prior to such cure. In addition,
to the extent not satisfied by the foregoing, the Issuer shall agree that, for so long as any Notes are outstanding, it shall furnish to Holders and to securities analysts and prospective investors, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (b) If the Issuer has designated any of its Subsidiaries as Unrestricted
Subsidiaries and such Unrestricted Subsidiaries hold in the aggregate more than 10.0% of the Total Assets of the Issuer, then the annual and quarterly financial information required by Section 3.10(a)(1) and
(2) will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in “Management’s Discussion and Analysis of Financial Condition and Results of
Operations,” 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. 

(c) Substantially concurrently with the furnishing or making such information available to the Trustee pursuant to the immediately preceding
paragraph, the Issuer shall also use its commercially reasonable efforts to post copies of such information required by the immediately preceding paragraph on a website (which may be nonpublic and may be maintained by the Issuer or a third party) to
which access will be given to the Holders, prospective investors in the Notes (which prospective investors shall be limited to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or non-U.S. persons (as defined in Regulation S under the Securities Act) that certify their status as such to the reasonable satisfaction of the Issuer), and securities analysts and market making financial
institutions that are reasonably satisfactory to the Issuer. To the extent the Issuer determines in good faith that it cannot make such reports available in the manner described in the preceding sentence after the use of its commercially reasonable
efforts, the Issuer shall furnish such reports to the Holders, upon their request. The Issuer may condition the delivery of any such reports to such Holders, prospective investors in the Notes, and securities analysts and market making financial
institutions on the agreement of such Persons to (i) treat all such reports (and the information contained therein) and information as confidential, (ii) not use such reports and the information contained therein for any purpose other than
their investment or potential investment in the Notes and (iii) not publicly disclose any such reports (and the information contained therein) and information. 

  
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 (d) The Issuer will also hold quarterly conference calls for the Holders, prospective investors
in the Notes and securities analysts and market making financial institutions, to discuss financial information for the previous quarter (it being understood that such quarterly conference call may be the same conference call as with the
Issuer’s (or any Parent Entity’s) equity investors and analysts). The conference call will be following the last day of each fiscal quarter of the Issuer and not later than 20 Business Days from the time that the Issuer distributes the
financial information as set forth in the third preceding paragraph. No fewer than two days prior to the conference call, the Issuer will issue a press release announcing the time and date of such conference call and providing instructions for
Holders, securities analysts, prospective investors and market making financial institutions to obtain access to such call. 
 (e) The Issuer
may satisfy its obligations pursuant to this Section 3.10 with respect to financial information relating to the Issuer by furnishing financial information relating to a Parent Entity; provided that the same is
accompanied by consolidating information that explains in reasonable detail the differences between the information relating to a Parent Entity (and other direct or indirect Parent Entities included in such information, if any), on the one hand, and
the information relating to the Issuer and its Restricted Subsidiaries on a standalone basis, on the other hand. For the avoidance of doubt, the consolidating information referred to in the proviso in the preceding sentence need not be audited. 

(f) Notwithstanding anything to the contrary set forth in this Section 3.10, if the Issuer or any Parent Entity of
the Issuer has furnished to the Holders of Notes or filed with the SEC the reports described in the preceding paragraphs with respect to the Issuer or any Parent Entity, the Issuer shall be deemed to be in compliance with the provisions of this
Section 3.10. 
 (g) Delivery of reports, information and documents to the Trustee is for informational purposes
only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of its covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 
 SECTION 3.11. Limitation on Business
Activities Prior to Escrow Release Date. Prior to the Escrow Release Date, the Issuer shall not engage in any activity other than 
 (a)
issuing the Notes; 
 (b) issuing capital stock and receiving capital contributions; 

(c) performing its obligations in respect of the Notes under this Indenture and the Escrow Agreement; 

(d) performing its obligations under the Acquisition Agreement; 

(e) consummating the Transactions and the Escrow Release; 

(f) redeeming the Notes pursuant to Section 5.9, if applicable; and 

(g) conducting such other activities as are necessary or appropriate to carry out the activities described above and in the Acquisition
Agreement. 
 Prior to the Escrow Release Date, the Issuer shall not own, hold or otherwise have any interest in any assets other than the
Escrow Account, cash and Cash Equivalents and its rights under the Acquisition Agreement. 

  
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 SECTION 3.12. Maintenance of Office or Agency. 

The Issuers will maintain an office or agency where the Notes may be presented or surrendered for payment, where, if applicable, the Notes may
be surrendered for registration of transfer or exchange. The corporate trust office of the Trustee, which initially shall be located at Wilmington Trust, National Association, 50 South Sixth Street, Suite 1290, Minneapolis, Minnesota 55402,
Attention: [Double Eagle Acquisition Sub, Inc./inVentiv Group Holdings, Inc.] Administrator, shall be such office or agency of the Issuer, unless the Issuer shall designate and maintain some other office or agency for one or more of such purposes.
The Issuer will give prompt written notice to the Trustee of any change in the location of any such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations and surrenders may be made or served at the corporate trust office of the Trustee, and the Issuer hereby appoints the Trustee as its agent to receive all such presentations and surrenders. 

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 any such designation. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. The
office of the Trustee shall not be an office or agency of the Issuer for the purposes of service of legal process on the Issuers or any Guarantor. 

SECTION 3.13. Corporate Existence. Except as otherwise provided in this Article III, Article IV and
Section 10.2(b), the Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and the corporate, partnership, limited liability company or other existence
of each Restricted Subsidiary and the rights (charter and statutory), licenses and franchises of the Issuer and each Restricted Subsidiary; provided, however, that the Issuer shall not be required to preserve any such right, license or
franchise or the corporate, partnership, limited liability company or other existence of any Restricted Subsidiary if the respective Board of Directors or, with respect to a Restricted Subsidiary that is not a Significant Subsidiary (or group of
Restricted Subsidiaries that taken together would not be a Significant Subsidiary), senior management of the Issuer determines that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and each of its
Restricted Subsidiaries, taken as a whole, and that the loss thereof is not, and will not be, disadvantageous in any material respect to the Holders. 

SECTION 3.14. Payment of Taxes. The Issuer shall pay or discharge or cause to be paid or discharged, before the same shall become
delinquent, all material taxes, assessments and governmental charges levied or imposed upon the Issuer or any Subsidiary; provided, however, that the Issuer shall not be required to pay or discharge or cause to be paid or discharged
any such tax, assessment, charge or claim the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which appropriate reserves, if necessary (in the good faith judgment of management of the
Issuer), are being maintained in accordance with GAAP or where the failure to effect such payment will not be disadvantageous to the Holders. 

SECTION 3.15. [Reserved]. 

SECTION 3.16. Compliance Certificate. The Issuer shall deliver to the Trustee within 120 days after the end of each fiscal year of the
Issuer an Officer’s Certificate, the signer of which shall be the principal executive officer, principal financial officer or principal accounting officer of the Issuer, stating that in the course of the performance by the signer of his or her
duties as an Officer of the Issuer he or she would normally have knowledge of any Default or Event of Default and whether or not the signer knows of any Default or Event of Default that occurred during the previous fiscal year; provided that
no such Officer’s Certificate shall be required for any fiscal year ended prior to the Issue Date. If such Officer does have such knowledge, the certificate shall describe the Default or Event of Default, its status and the action the Issuer is
taking or proposes to take with respect thereto. 
 SECTION 3.17. Further Instruments and Acts. Upon request of the Trustee or as
necessary to comply with future developments or requirements,each Issuer will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture.

 SECTION 3.18. [Reserved]. 

  
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 SECTION 3.19. Statement by Officers as to Default. The Issuer shall deliver to the
Trustee, as soon as possible and in any event within 30 days after the Issuer becomes aware of the occurrence of any Default or Event of Default, an Officer’s Certificate setting forth the details of such Event of Default or Default, its status
and the actions which the Issuer is taking or proposes to take with respect thereto. 
 SECTION 3.20. Designation of Restricted and
Unrestricted Subsidiaries. The Issuer may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation would not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted Subsidiary, the aggregate
fair market value of all outstanding Investments owned by the Issuer and its Restricted Subsidiaries in the Subsidiary designated as an Unrestricted Subsidiary will be deemed to be an Investment made as of the time of the designation and will reduce
the amount available for Restricted Payments as described in Section 3.3 herein or under one or more clauses of the definition of Permitted Investments, as determined by the Issuer. That designation will only be permitted
if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. The Issuer may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if that
redesignation would not cause a Default. 
 Any designation of a Subsidiary of the Issuer as an Unrestricted Subsidiary will be evidenced to
the Trustee by an Officer’s Certificate certifying that such designation complies with the preceding conditions and was permitted by Section 3.3 herein. If, at any time, any Unrestricted Subsidiary would fail to meet
the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary as of
such date and, if such Indebtedness is not permitted to be incurred as of such date by Section 3.2 herein, the Issuer will be in default of such covenant. 

The Issuer may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that such designation will be
deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of any outstanding Indebtedness of such Unrestricted Subsidiary, and such designation will only be permitted if (1) such Indebtedness is permitted under
Section 3.2 herein (including pursuant to clause (5) of the second paragraph thereof treating such redesignation as an acquisition for the purpose of such clause), calculated on a pro forma basis as if such
designation had occurred at the beginning of the applicable reference period; and (2) no Default or Event of Default would be in existence following such designation. Any such designation by the Issuer shall be evidenced to the Trustee by an
Officer’s Certificate certifying that such designation complies with the preceding conditions. 
 SECTION 3.21. Suspension of
Certain Covenants on Achievement of Investment Grade Status. Following the first day the Notes have achieved Investment Grade Status and no Default or Event of Default has occurred and is continuing under this Indenture, then, beginning on that
day and ending on a Reversion Date (such period a “Suspension Period”), the Issuer and its Restricted Subsidiaries will not be subject to Sections 3.2, 3.3, 3.4, 3.5, 3.7, 3.8 and
4.1(a)(3). 
 On the Reversion Date, all Indebtedness Incurred during the Suspension Period will be deemed to have been outstanding
on the Escrow Release Date, so that it is classified as permitted under Section 3.2(b)(4)(ii). On and after the Reversion Date, all Liens created during the Suspension Period will be considered Permitted Liens. Calculations
made after the Reversion Date of the amount available to be made as Restricted Payments under Section 3.3 will be made as though Section 3.3 had been in effect since the Escrow Release Date and
prior to, but not during, the Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will not reduce the amount available to be made as Restricted Payments under Section 3.3(a). On the
Reversion Date, the amount of Excess Proceeds shall be reset at zero. Any Affiliate Transaction entered into after the Reversion Date pursuant to an agreement entered into during any Suspension Period will be deemed to have been outstanding on the
Escrow Release Date, so that it is classified as permitted under Section 3.8(b)(6). Any encumbrance or restriction on the ability of any Restricted Subsidiary to take any action described in
Section 3.4(a)(1) through (3) that becomes effective during the Suspension Period will be deemed to have existed on the Escrow Release Date, so that it is classified as permitted under
Section 3.4(b)(1). In addition, any future obligation to grant further Note Guarantees shall be released. All such further obligations to grant Guarantees shall be reinstated on the Reversion Date. As described above,
however, no Default, Event of Default or breach of any kind shall be deemed to have occurred as a result of the Reversion Date occurring on the basis of any actions taken or the continuance of any circumstances resulting from actions taken or the
performance of obligations under agreements entered into by the Issuer or any of the Restricted Subsidiaries during the Suspension Period (other than agreements to take actions after the Reversion Date that would not be permitted outside of the
Suspension Period entered into in contemplation of the Reversion Date). 

  
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 On and after each Reversion Date, the Issuer and its Subsidiaries will be permitted to consummate
the transactions contemplated by any contract entered into during the Suspension Period, so long as such contract and such consummation would have been permitted during such Suspension Period. 

The Issuer, in an Officer’s Certificate, shall provide the Trustee notice of any Covenant Suspension or Reversion Date; provided
that failure to so notify the Trustee shall not result in a Default. The Trustee will have no obligation to (i) independently determine or verify if such events have occurred or (ii) make any determination regarding the impact of actions
taken during the Suspension Period on the Issuer’s future compliance with its covenants. In addition, the Trustee shall have no duty to monitor the ratings of the Notes, shall not be deemed to have any knowledge of the ratings of the Notes and
shall have no duty to notify Holders if the Notes achieve Investment Grade Status. 
 ARTICLE IV 

SUCCESSOR COMPANY; SUCCESSOR PERSON 

SECTION 4.1. Merger and Consolidation. 

(a) The Issuer will not consolidate with or merge with or into or convey, transfer or lease all or substantially all its assets, in one
transaction or a series of related transactions to any Person, unless: 
 (1) the resulting, surviving or transferee Person
(the “Successor Company”) will be a Person organized and existing under the laws of the United States of America, any State of the United States or the District of Columbia and the Successor Company (if not the Issuer) will
expressly assume, by supplemental indenture, executed and delivered to the Trustee, all the obligations of the Issuer under the Notes and this Indenture; 

(2) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the
applicable Successor Company or any Subsidiary of the applicable Successor Company as a result of such transaction as having been Incurred by the applicable Successor Company or such Subsidiary at the time of such transaction), no Default or Event
of Default shall have occurred and be continuing; 
 (3) immediately after giving effect to such transaction, either
(a) the applicable Successor Company would be able to Incur at least an additional $1.00 of Indebtedness pursuant to Section 3.2(a) hereof, (b) the Fixed Charge Coverage Ratio of the Issuer and the Restricted
Subsidiaries would not be lower than it was immediately prior to giving effect to such transaction or (c) the Consolidated Total Leverage Ratio of the Issuer and the Restricted Subsidiaries would not be higher than it was immediately prior to
giving effect to such transaction; and 
 (4) the Issuer shall have delivered to the Trustee an Officer’s Certificate
and an Opinion of Counsel, each to the effect that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture and an Opinion of Counsel to the effect that such supplemental indenture (if any) is a
legal and binding agreement enforceable against the Successor Company; provided that in giving an Opinion of Counsel, counsel may rely on an Officer’s Certificate as to any matters of fact, including as to satisfaction of clauses
(2) and (3) above. 
 (b) [Reserved]. 

(c) The Successor Company will succeed to, and be substituted for, and may exercise every right and power of, the Issuer under the Notes and
this Indenture. 

  
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 (d) Notwithstanding the preceding clauses (a)(2), (a)(3) and (a)(4) (which do not apply to
transactions referred to in this sentence), (i) any Restricted Subsidiary of the Issuer may consolidate or otherwise combine with, merge into or transfer all or part of its properties and assets to the Issuer, (ii) any Restricted Subsidiary may
consolidate or otherwise combine with, merge into or transfer all or part of its properties and assets to any other Restricted Subsidiary and (iii) the Issuer and any Restricted Subsidiary may complete any Permitted Tax Restructuring.
Notwithstanding the preceding clauses (a)(2) and (a)(3) (which do not apply to the transactions referred to in this sentence), the Issuer may consolidate or otherwise combine with or merge into an Affiliate incorporated or organized for the purpose
of changing the legal domicile of the Issuer, reincorporating the Issuer in another jurisdiction, or changing the legal form of the Issuer. 

(e) Notwithstanding the foregoing provisions, the Transactions will be permitted without compliance with clauses (a)(2), (a)(3) or (a)(4) of
this section. 
 (f) The foregoing provisions (other than the requirements of clause (a)(2)) shall not apply to the creation of a new
Subsidiary as a Restricted Subsidiary of the Issuer. 
 (g) No Co-Issuer or Guarantor may: 

(1) consolidate with or merge with or into any Person; or 

(2) sell, convey, transfer or dispose of, all or substantially all its assets, in one transaction or a series of related
transactions, to, any Person; or 
 (3) permit any Person to merge with or into such
Co-Issuer or Guarantor, unless 
 (i) the other Person is the Issuer or any
Restricted Subsidiary that is a Co-Issuer or a Guarantor or becomes a Co-Issuer or a Guarantor concurrently with the transaction; or 

(ii) (A) either (x) the Issuer, a Co-Issuer or a Guarantor is the continuing
Person or (y) the resulting, surviving or transferee Person expressly assumes all of the obligations of the Co-Issuer or Guarantor under its Note Guarantee and this Indenture; and 

(B) immediately after giving effect to the transaction, no Default has occurred and is continuing; or 

(iii) the transaction constitutes a sale or other disposition (including by way of consolidation or merger) of the Co-Issuer or Guarantor or the sale or disposition of all or substantially all the assets of the Co-Issuer or Guarantor (in each case other than to the Issuer or a Restricted
Subsidiary) otherwise permitted by this Indenture. 
 ARTICLE V 

REDEMPTION OF SECURITIES 

SECTION 5.1. Notices to Trustee. Subject to Section 5.9 hereof, if the Issuer elects to redeem Notes pursuant
to the optional redemption provisions of Section 5.7 hereof, it must furnish to the Trustee, at least 15 days but not more than 60 days before a redemption date, an Officer’s Certificate setting forth: 

 

	 	(1)	the clause of this Indenture pursuant to which the redemption shall occur; 

  

	 	(2)	the redemption date; 

  

	 	(3)	the principal amount of Notes to be redeemed; and 

  

	 	(4)	the redemption price. 

  
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 Any optional redemption referenced in such Officer’s Certificate may be cancelled by the
Issuer at any time prior to notice of redemption being sent to any Holder and thereafter shall be null and void. 
 SECTION 5.2.
Selection of Notes to Be Redeemed or Purchased. If less than all of the Notes are to be redeemed pursuant to Section 5.7 or purchased in an Asset Disposition Offer pursuant to Section 3.5 or
a redemption pursuant to Section 5.9, the Trustee will select Notes for redemption or purchase (a) if the Notes are in global form, on a pro rata basis or such similar method in accordance with the applicable
procedures of DTC and (b) if the Notes are in definitive form, on a pro rata basis (subject to adjustments to maintain the authorized Notes denomination requirements) except if otherwise required by law. 

No Notes in an unauthorized denomination or of $2,000 in aggregate principal amount or less shall be redeemed in part. In the event of partial
redemption, the particular Notes to be redeemed or purchased will be selected, unless otherwise provided herein, not less than 15 days nor more than 60 days prior to the redemption or purchase date by the Trustee from the outstanding Notes not
previously called for redemption or purchase; provided that the Issuer shall provide the Trustee with sufficient notice of such partial redemption to enable the Trustee to select the Notes for partial redemption. 

The Trustee will promptly notify the Issuer in writing of the Notes selected for redemption or purchase and, in the case of any Note selected
for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are to be
redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes
called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 
 SECTION 5.3. Notice of
Redemption. Subject to Section 5.9 hereof, at least 15 days but not more than 60 days before a redemption date, the Issuer will send or cause to be sent, by electronic delivery or by first class mail postage prepaid, a
notice of redemption to each Holder (with a copy to the Trustee) whose Notes are to be redeemed at the address of such Holder appearing in the security register or otherwise in accordance with the procedures of DTC, except that redemption notices
may be sent more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles VIII or XI hereof. 

The notice will identify the Notes (including the CUSIP or ISIN number) to be redeemed and will state: 

(1) the redemption date; 

(2) the redemption price; 

(3) if any 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 Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of the original Note; 

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

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

(6) that, unless the Issuer defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the redemption date; 
 (7) the paragraph of the Notes and/or Section of this Indenture pursuant to which
the Notes called for redemption are being redeemed; and 

  
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 (8) that no representation is made as to the correctness or accuracy of the CUSIP
number, if any, listed in such notice or printed on the Notes. 
 At the Issuer’s request, the Trustee will give the notice of
redemption in the Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Trustee, at least three (3) Business Days prior to the date on which the Issuer instructs the Trustee to give the
notice (or such shorter period as the Trustee may agree), 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. 

Notice of any redemption of the Notes may, at the Issuer’s discretion, be given prior to the completion of a transaction (including but
not limited to an Equity Offering, an incurrence of Indebtedness, a Change of Control or other transaction) and any redemption notice may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited
to, completion of a related transaction. If such redemption or purchase is so subject to satisfaction of one or more conditions precedent such notice shall describe each such condition, and if applicable, shall state that, in the Issuer’s
discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption or purchase may not occur and such notice may be rescinded in the event that any or all such conditions shall not
have been satisfied by the redemption date, or by the redemption date as so delayed. 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. 
 SECTION 5.4. [Reserved] 

SECTION 5.5. Deposit of Redemption or Purchase Price. Prior to 11:00 a.m. Eastern Time on the redemption or purchase date, the Issuer
will deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued interest on, all Notes to be redeemed or purchased 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 by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest, on all Notes to be redeemed or purchased. 

If the Issuer complies with the provisions of the preceding paragraph, 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 but on or prior to the corresponding interest payment date, then any accrued and unpaid interest up to, but
excluding, the redemption date or purchase date shall be paid on the redemption date or purchase date to the Person in whose name such Note was registered at the close of business on such record date in accordance with the applicable procedures of
DTC. 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 the preceding paragraph, 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 3.1 hereof. 

SECTION 5.6. Notes Redeemed or Purchased in Part. Upon surrender of a Note issued in physical form that is redeemed or purchased in
part, the Issuer will issue and the Trustee will authenticate for 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 each such new Note
will be in a minimum principal amount of $2,000 or integral multiple of $1,000 in excess thereof. 
 In the case of a Note issued as a
global note, an appropriate notation will be made on such Note to decrease the principal amount thereof to an amount equal to the unredeemed portion thereof; provided, that the unredeemed portion thereof will be in a minimum principal amount
of $2,000 or integral multiple of $1,000 in excess thereof. 

  
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 SECTION 5.7. Optional Redemption. 

(a) At any time prior to October 1, 2019, the Issuer may redeem the Notes in whole or in part, at its option, upon not less than 15 nor
more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, at a redemption price (expressed as percentages of principal amount of the Notes to be redeemed)
equal to 100.000% of the principal amount of Notes redeemed plus the relevant Applicable Premium as of, and accrued and unpaid interest, if any, to but excluding, the date of redemption (the “Redemption Date”), subject to the rights
of Holders on the relevant record date to receive interest due on the relevant interest payment date. 
 (b) At any time and from time to
time prior to October 1, 2019, the Issuer may, on one or more occasions, upon not less than 15 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes
Register, redeem up to 40.0% of the original aggregate principal amount of Notes issued under this Indenture at a redemption price (expressed as percentages of principal amount of the Notes to be redeemed) equal to 107.500% of the aggregate
principal amount thereof, plus accrued and unpaid interest, if any, to but excluding, the applicable Redemption Date, subject to the right of Holders of record of the Notes on the relevant record date to receive interest due on the relevant interest
payment date, with the Net Cash Proceeds received by the Issuer of one or more Equity Offerings of the Issuer; provided that not less than 50.0% of the original aggregate principal amount of Notes initially issued under this Indenture remains
outstanding immediately after the occurrence of each such redemption (excluding Notes held by the Issuer or any of its Restricted Subsidiaries); provided further that each such redemption occurs not later than 180 days after the date of
closing of the related Equity Offering. The Trustee shall select the Notes to be purchased in the manner described under Sections 5.1 through 5.6. 

(c) Except pursuant to clauses (a) and (b) of this Section 5.7, the Notes will not be redeemable at the
Issuer’s option prior to October 1, 2019. 
 (d) At any time and from time to time on or after October 1, 2019, the Issuer may
redeem the Notes, in whole or in part, upon not less than 15 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register at the redemption prices
(expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest thereon, if any, to but excluding the applicable Redemption Date, subject to the right of Holders of record of
the Notes on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the twelve-month period beginning on October 1 of each of the years indicated in the table below: 

 

					
	 Period
	  	Percentage	 
	 2019
	  	 	103.750	% 
	 2020
	  	 	101.875	% 
	 2021 and thereafter
	  	 	100.000	% 

 (e) Notwithstanding the foregoing, in connection with any tender offer for the Notes, including a Change of
Control Offer or Asset Disposition Offer, if Holders of not less than 90.0% in aggregate principal amount of the outstanding Notes validly tender and do not 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 withdrawn by such Holders, the Issuer or such third party shall have the right upon not less than 15 nor more than 60 days’ prior notice, with a copy to the
Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, given not more than 15 days following such purchase date to redeem all Notes that remain outstanding following such purchase at a redemption price equal
to the price offered to each other Holder in such tender offer plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon, to but not including, the date of such redemption. 

(f) Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called
for redemption on the applicable Redemption Date. 
 (g) Any redemption pursuant to this Section 5.7 shall be made
pursuant to the provisions of Sections 5.1 through 5.6. 

  
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 SECTION 5.8. Mandatory Redemption. The Issuer is not required to make mandatory redemption
or sinking fund payments with respect to the Notes, except under the circumstances as described in Section 5.9; provided, however, that under certain circumstances, the Issuer may be required to offer to purchase
Notes under Section 3.5 and Section 3.9. The Issuer and its Restricted Subsidiaries may at any time and from time to time purchase Notes in the open market or otherwise. 

SECTION 5.9. Special Mandatory Redemption. 

(a) If (1) the Escrow Agent has not received the Officer’s Certificate described in Section 12.1 on or
prior to May 27, 2017, (2) the Issuer notifies the Escrow Agent and the Trustee in writing that the Issuer will not pursue the consummation of the Acquisition and that the Acquisition Agreement has been terminated, or (3) the Issuer fails
to timely deposit (or cause to be timely deposited) any amounts required by the second paragraph under Section 12.1 within three Business Days of the applicable deposit date (each of the above, a “Special
Mandatory Redemption Event”), then the Escrow Agreement provides that the Escrow Agent shall, without the requirement of notice to or action by the Issuer, the Trustee or any other Person, liquidate and release all of the Escrowed
Property (including investment earnings thereon and proceeds thereof) to the Trustee and the Trustee shall apply (or cause a paying agent to apply) such proceeds to redeem the Notes (the “Special Mandatory Redemption”) on the third
Business Day following the Special Mandatory Redemption Event (the “Special Mandatory Redemption Date”) or as otherwise required by the applicable procedures of DTC, at a redemption price (the “Special Mandatory
Redemption Price”), equal to 100% of the issue price of the Notes, plus accrued and unpaid interest from the Issue Date or the most recent date to which interest has been paid or duly provided for on the Notes, as the case may be, to,
but excluding, the Special Mandatory Redemption Date. On the Special Mandatory Redemption Date, after payment of any fees and expenses of the Trustee and the Escrow Agent, the Trustee will pay to the Issuer any Escrowed Property in excess of the
amount necessary to effect the Special Mandatory Redemption in accordance with the Issuer’s written instructions. 
 (b) The Trustee
shall give notice of redemption to the Holders, substantially in the form attached as Exhibit C hereto, in the Issuer’s name and at the Issuer’s expense at least three Business Days or as soon as practicable prior (or otherwise in
accordance with DTC procedures) to such Special Mandatory Redemption Date. In the event that the funds on deposit in the Escrow Account are insufficient to redeem the Notes on the Special Mandatory Redemption Date, the Issuer shall promptly pay such
deficiency to the Trustee to be used by the Trustee to disburse the Special Mandatory Redemption Price. 
 (c) Any redemption made pursuant
to this Section 5.9 shall be made pursuant to the procedures set forth in this Indenture and the Escrow Agreement, except to the extent inconsistent with this Section 5.9. The Issuer shall not be
required to make any mandatory redemption or sinking fund payments with respect to the Notes, except pursuant to this Section 5.9. 

ARTICLE VI 
 DEFAULTS AND
REMEDIES 
 SECTION 6.1. Events of Default. 

(a) Each of the following is an “Event of Default”: 

(1) default in any payment of interest on any Note when due and payable, continued for 30 days; 

(2) default in the payment of the principal amount of or premium, if any, on any Note issued under this Indenture when due at
its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise; 
 (3) failure by the
Issuer, any Co-Issuer or any Guarantor to comply for 60 days after written notice by the Trustee on behalf of the Holders or by the Holders of 30.0% in aggregate principal amount of the outstanding Notes with
any agreement or obligation contained in this Indenture; provided that in the case of a failure to comply with this Indenture provisions described under Section 3.10, such period of continuance of such default or
breach shall be 270 days after written notice described in this clause (3) has been given; 

  
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 (4) default under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Issuer or any Significant Subsidiary (or the payment of which is Guaranteed by the Issuer or any Significant Subsidiary) other than Indebtedness owed to
the Issuer or a Restricted Subsidiary whether such Indebtedness or Guarantee now exists, or is created after the date hereof, which default: 

(A) is caused by a failure to pay principal of such Indebtedness, at its stated final maturity (after giving effect to any
applicable grace periods provided in such Indebtedness); or 
 (B) results in the acceleration of such Indebtedness prior to
its stated final maturity; 
 and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any
other such Indebtedness under which there has been a payment default of principal at its stated final maturity (after giving effect to any applicable grace periods) or the maturity of which has been so accelerated, aggregates to $100.0 million
or more at any one time outstanding; 
 (5) failure by the Issuer or any Significant Subsidiary, to pay final judgments
aggregating in excess of $100.0 million other than any judgments covered by indemnities provided by, or insurance policies issued by, reputable and creditworthy companies, which final judgments remain unpaid, undischarged and unstayed for a
period of more than 60 days after such judgment becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(6) any Note Guarantee by a Significant Subsidiary ceases to be in full force and effect, other than (x) in accordance
with the terms of this Indenture, (y) a Guarantor that is a Significant Subsidiary denies or disaffirms its obligations under its Note Guarantee, other than in accordance with the terms of this Indenture or upon release of such Note Guarantee
in accordance with this Indenture or (z) in connection with the bankruptcy of a Guarantor, so long as the aggregate assets of such Guarantor and any other Guarantor whose Note Guarantee ceased or ceases to be in full force as a result of a
bankruptcy are less than $100.0 million; 
 (7) the Issuer or a Significant Subsidiary (or any group of Restricted
Subsidiaries, that taken together as of the latest audited consolidated financial statements of the Issuer and its Restricted Subsidiaries, would constitute a Significant Subsidiary) pursuant to or within the meaning of any Bankruptcy Law: 

(A) commences a voluntary case or proceeding; 

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

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

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

(E) consents to or acquiesces in the institution of a bankruptcy or an insolvency proceeding against it; or 

  
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 (F) takes any comparable action under any foreign laws relating to insolvency;

 (8) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Issuer or a Significant Subsidiary (or any group of Restricted Subsidiaries, that taken together
as of the latest audited consolidated financial statements for the Issuer and its Restricted Subsidiaries, would constitute a Significant Subsidiary) in an involuntary case; 

(B) appoints a Custodian of the Issuer or a Significant Subsidiary (or any group of Restricted Subsidiaries, that taken
together as of the latest audited consolidated financial statements for the Issuer and its Restricted Subsidiaries, would constitute a Significant Subsidiary) for substantially all of its property; 

(C) orders the winding up or liquidation of the Issuer or a Significant Subsidiary (or any group of Restricted Subsidiaries,
that taken together as of the latest audited consolidated financial statements for the Issuer and its Restricted Subsidiaries, would constitute a Significant Subsidiary); or 

(D) or any similar relief is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for
60 consecutive days; 
 provided that a Default under clause (4) or (5) above will not constitute an Event of Default until the Trustee or the Holders
of 30% in aggregate principal amount of the outstanding Notes notify the Issuer of the Default and, with respect to clause (5), the Issuer does not cure such Default within the time specified in clause (5) after receipt of such notice. 

(b) If a Default for a failure to report or failure to deliver a required certificate in connection with another default (the “Initial
Default”) occurs, then at the time such Initial Default is cured, such Default for a failure to report or failure to deliver a required certificate in connection with another default that resulted solely because of that Initial Default
shall also be cured without any further action. 
 (c) Any Default or Event of Default for the failure to comply with the time periods
prescribed in Section 3.10 hereof or otherwise to deliver any notice or certificate pursuant to any other provision of this Indenture shall be deemed to be cured upon the delivery of any such report required by such
provision or such notice or certificate, as applicable, even though such delivery is not within the prescribed period specified in this Indenture. 

SECTION 6.2. Acceleration. If any Event of Default (other than an Event of Default described in clause (7) or (8) of
Section 6.1(a)) occurs and is continuing, the Trustee by notice to the Issuer, or the Holders of at least 30.0% in aggregate principal amount of the outstanding Notes by written notice to the Issuer and the Trustee, may
declare the principal of and accrued and unpaid interest, if any, on all the Notes to be immediately due and payable. Upon such a declaration, such principal and accrued and unpaid interest, will be due and payable immediately. 

In the event of any Event of Default specified in clause (4) of Section 6.1(a), such Event of Default and all
consequences thereof shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders, if within 30 days after such Event of Default arose: 

(1) (x) the Indebtedness that gave rise to such Event of Default shall have been discharged in full; or 

(y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such
Event of Default; or 

  
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 (z) if the default that is the basis for such Event of Default has been cured;
and 
 (2) the annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of
competent jurisdiction. 
 If an Event of Default described in clause (7) or (8) of Section 6.1(a) occurs and
is continuing, the principal of and accrued and unpaid interest, on all Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. 

SECTION 6.3. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy by proceeding
at law or in equity to collect the payment of principal of, or premium, 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. No remedy is exclusive of any other
remedy. All available remedies are cumulative. 
 SECTION 6.4. Waiver of Past Defaults. The Holders of a majority in aggregate
principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of all of the Holders, (a) waive, by their consent (including, without limitation, consents obtained in connection with a purchase of, or tender
offer or exchange offer for, Notes), an existing Default or Event of Default and its consequences under this Indenture except (i) a Default or Event of Default in the payment of the principal of, or interest, on a Note or (ii) a Default or
Event of Default in respect of a provision that under Section 9.2 cannot be amended without the consent of each Holder affected and (b) rescind any acceleration with respect to the Notes and its consequences if
(1) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction, (2) all existing Events of Default have been cured or waived except nonpayment of principal, premium, if any, interest that has become
due solely because of the acceleration, (3) to the extent the payment of such interest is lawful, interest on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration of acceleration, has
been paid, (4) the Issuer has paid the Trustee its compensation and reimbursed the Trustee for its reasonable expenses, disbursements and advances and (5) in the event of the cure or waiver of an Event of Default of the type described in
clause (4) of Section 6.1(a), the Trustee shall have received an Officer’s Certificate and an Opinion of Counsel stating that such Event of Default has been cured or waived. No such rescission shall affect any
subsequent Default or impair any right consequent thereto. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any consequent right. 

SECTION 6.5. Control by Majority. The Holders of a majority in aggregate principal amount of the outstanding Notes may direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or
the Notes or, subject to Sections 7.1 and 7.2, that the Trustee determines is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal liability; provided, however, that the Trustee may
take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any such action hereunder, the Trustee shall be entitled to indemnification satisfactory to it against all fees, losses, liabilities and
expenses (including attorney’s fees and expenses) caused by taking or not taking such action. 
 SECTION 6.6. Limitation on
Suits. Subject to Section 6.7, a Holder may not pursue any remedy with respect to this Indenture or the Notes unless: 

(1) such Holder has previously given the Trustee written notice that an Event of Default is continuing; 

(2) Holders of at least 30.0% in aggregate principal amount of the outstanding Notes have requested in writing the Trustee to
pursue the remedy; 

  
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 (3) such Holders have offered in writing and, if requested, provided to the
Trustee security or indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee has not
complied with such request within 60 days after the receipt of the written request and the offer of security or indemnity; and 

(5) Holders of a majority in aggregate principal amount of the outstanding Notes have not given the Trustee a written direction
that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 

A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it
being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 

SECTION 6.7. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture (including, without
limitation, Section 6.6), the contractual right of any Holder to receive payment of interest on the Notes held by such Holder or to institute suit for the enforcement of any such payment on or with respect to such
Holder’s Notes shall not be impaired or affected without the consent of such Holder (and, for the avoidance of doubt, the amendment, supplement or modification in accordance with the terms of this Indenture of Articles III and IV
and Sections 6.1(a)(3), (4), (5) and (6) and the related definitions shall be deemed not to impair the contractual right of any Holder to receive payments of principal of and interest on such Holder’s Notes on
or after the due dates therefor or to institute suit for the enforcement of any such payment on or with respect to such Holder’s Note). 

SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in clauses (1) or (2) of
Section 6.1(a) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer for the whole amount then due and owing (together with interest on any unpaid
interest to the extent lawful) and the amounts provided for in Section 7.7. 
 SECTION 6.9. Trustee May File
Proofs of Claim. The Trustee may 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 reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Issuer, its Subsidiaries or its or their respective creditors or properties and, unless prohibited by law or applicable
regulations, may be entitled and empowered to participate as a member of any official committee of creditors appointed in such matter and may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar
functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make 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 it for the compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.7. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

SECTION 6.10. Priorities. 

(a) If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or property in the following
order: 
 FIRST: to the Trustee for amounts due to it under Section 7.7; 

  
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 SECOND: to Holders for amounts due and unpaid on the Notes for principal of, or
premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal of, or premium, if any, and interest, respectively; and 

THIRD: to the Issuers, or to the extent the Trustee collects any amount for any Guarantor, to such Guarantor. 

(b) The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 6.10. At
least 15 days before such record date, the Issuer shall send or cause to be sent to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

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 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 and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11
does not apply to a suit by the Trustee, a suit by the Issuers, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 20.0% in outstanding aggregate principal amount of the Notes. 

ARTICLE VII 
 TRUSTEE 

SECTION 7.1. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise 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: 

(1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad
faith 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, opinions or orders furnished to the Trustee and conforming to the requirements of this
Indenture or the Notes, as the case may be. However, in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such certificates and opinions
to determine whether or not they conform to the requirements of this Indenture or the Notes, as the case may be (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of paragraph (b) of this
Section 7.1; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by
a Trust Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee
shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.5; and 

  
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 (4) No provision of this Indenture or the Notes shall require the Trustee to
expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or thereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of
such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (d) Every provision of this Indenture
that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.1. 
 (e)
The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. 
 (f)
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) Every provision of
this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.1. 

SECTION 7.2. Rights of Trustee. Subject to Section 7.1: 

(a) The Trustee may conclusively rely on and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document (whether in its original or facsimile form) reasonably 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. The Trustee shall receive and retain financial reports and statements of the Issuer as provided herein, but shall have no duty to review or analyze such reports or
statements to determine compliance with covenants or other obligations of the Issuer. 
 (b) Before the Trustee acts or refrains from acting,
it may require an Officer’s Certificate and/or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may execute any of the trusts and powers hereunder or perform any duties hereunder either directly or by or through its
attorneys and agents and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care by it hereunder. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its
rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult with counsel of its selection, and the advice or opinion
of counsel relating to this Indenture or the Notes shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder or under the Notes in good faith and in accordance with the
advice or opinion of such counsel. 
 (f) The Trustee shall not be deemed to have notice of any Default or Event of Default or whether any
entity or group of entities constitutes a Significant Subsidiary unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default or of any such Significant Subsidiary is
received by the Trustee at the corporate trust office of the Trustee specified in Section 3.12, and such notice references the Notes and this Indenture. 

(g) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder. 

  
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 (h) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it
by this Indenture or the Notes at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs,
expenses and liabilities which may be incurred therein or thereby. 
 (i) The Trustee shall not be deemed to have knowledge of any fact or
matter unless such fact or matter is known to a Trust Officer of the Trustee. 
 (j) Whenever in the administration of this Indenture or the
Notes the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder or thereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of
negligence or willful misconduct on its part, conclusively rely upon an Officer’s Certificate. 
 (k) The Trustee shall not be bound to
make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, report, notice, request, direction, consent, order, bond, debenture, coupon 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, during business hours and
upon reasonable notice, the books, records and premises of the Issuer and the Restricted Subsidiaries, personally or by agent or attorney at the sole cost of the Issuer and shall incur no liability or additional liability of any kind by reason of
such inquiry or investigation. 
 (l) The Trustee shall not be required to give any bond or surety in respect of the performance of its
powers and duties hereunder. 
 (m) The Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture or the Notes. 
 (n) In no
event shall the Trustee be liable to any Person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including, but not limited to, lost profits), even if the Trustee has been advised of the likelihood
of such loss or damage. 
 (o) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the
Issuer shall be sufficient if signed by one Officer of the Issuer. 
 SECTION 7.3. Individual Rights of Trustee. The Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuers, Guarantors or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. In addition, the Trustee shall be
permitted to engage in transactions with the Issuers; provided, however, that if the Trustee acquires any conflicting interest, the Trustee must (i) eliminate such conflict within 90 days of acquiring such conflicting interest,
(ii) apply to the SEC for permission to continue acting as Trustee or (iii) resign. 
 SECTION 7.4. Trustee’s
Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, shall not be accountable for the Issuers’ use of the proceeds from the sale of the Notes, shall
not be responsible for the use or application of any money received by any Paying Agent other than the Trustee or any money paid to the Issuers pursuant to the terms of this Indenture and shall not be responsible for any statement of the Issuers in
this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 

SECTION 7.5. Notice of Defaults. If a Default or Event of Default occurs and is continuing and if a Trust Officer has actual knowledge
thereof, the Trustee shall send electronically or by first class mail to each Holder at the address set forth in the Notes Register notice of the Default or Event of Default within 90 days after it is actually known to a Trust Officer. Except in the
case of a Default or Event of Default in payment of principal of or interest on any Note (including payments pursuant to the optional redemption or required repurchase provisions of such Note), the Trustee may withhold the notice if and so long it
in good faith determines that withholding the notice is in the interests of Holders. 

  
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 SECTION 7.6. [Reserved]. 

SECTION 7.7. Compensation and Indemnity. The Issuer shall pay to the Trustee from time to time compensation for its services hereunder
and under the Notes as the Issuer and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred or made by it, including, but not limited to, costs of collection, costs of preparing reports, certificates
and other documents, costs of preparation and mailing of notices to Holders. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the agents, counsel, accountants and experts of the Trustee. The Issuer
shall indemnify the Trustee, its directors, officers, employees and agents against any and all loss, liability, damages, claims or expense, including taxes (other than taxes based upon the income of the Trustee) (including reasonable attorneys’
and agents’ fees and expenses) incurred by it without willful misconduct or gross negligence, as determined by a final nonappealable order of a court of competent jurisdiction, on its part in connection with the administration of this trust and
the performance of its duties hereunder and under the Notes, including the costs and expenses of enforcing this Indenture (including this Section 7.7) and the Notes and of defending itself against any claims (whether
asserted by any Holder, the Issuer or otherwise). The Trustee shall notify the Issuer promptly of any claim for which it may seek indemnity of which it has received written notice. Failure by the Trustee to so notify the Issuer shall not relieve the
Issuer of its obligations hereunder. The Issuer shall defend the claim and the Trustee shall provide reasonable cooperation at the Issuer’s expense in the defense. The Trustee may have separate counsel and the Issuer shall pay the fees and
expenses of such counsel; provided that the Issuer shall not be required to pay the fees and expenses of such separate counsel if it assumes the Trustee’s defense, and, in the reasonable judgment of outside counsel to the Trustee, there
is no conflict of interest between the Issuer and the Trustee in connection with such defense. 
 To secure the Issuer’s payment
obligations in this Section 7.7, the Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on
particular Notes. Such lien shall survive the satisfaction and discharge of this Indenture. The Trustee’s respective right to receive payment of any amounts due under this Section 7.7 shall not be subordinate to any
other liability or Indebtedness of the Issuer. 
 The Issuer’s payment obligations pursuant to this
Section 7.7 shall survive the discharge of this Indenture and any resignation or removal of the Trustee under Section 7.8. Without prejudice to any other rights available to the Trustee under
applicable law, when the Trustee incurs fees, expenses or renders services after the occurrence of a Default specified in clause (7) or clause (8) of Section 6.1(a), the fees and expenses (including the reasonable
fees and expenses of its counsel) are intended to constitute expenses of administration under any Bankruptcy Law. 
 SECTION 7.8.
Replacement of Trustee. The Trustee may resign at any time by so notifying the Issuer in writing not less than 30 days prior to the effective date of such resignation. The Holders of a majority in aggregate principal amount of the Notes may
remove the Trustee by so notifying the removed Trustee in writing not less than 30 days prior to the effective date of such removal and may appoint a successor Trustee with the Issuers’ written consent, which consent will not be unreasonably
withheld. The Issuers shall remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10 hereof;

 (2) the Trustee is adjudged bankrupt or insolvent; 

(3) a receiver or other public officer takes charge of the Trustee or its property; or 

(4) the Trustee otherwise becomes incapable of acting. 

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

  
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 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a
notice of its succession to Holders. The retiring Trustee shall, at the expense of the Issuer, promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.7.

 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of at least 10.0% in aggregate principal amount of the Notes may petition, at the Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. 

If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in
TIA Section 310(b), any Holder, who has been a bona fide holder of a Note for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

Notwithstanding the replacement of the Trustee pursuant to this Section 7.8, the Issuers’ obligations under
Section 7.7 shall continue for the benefit of the retiring Trustee. The predecessor Trustee shall have no liability for any action or inaction of any successor Trustee. 

SECTION 7.9. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially
all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee. 

In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by
this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that
time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; provided that the right to adopt
the certificate of authentication of any predecessor Trustee or authenticate Notes in the name of any predecessor Trustee shall only apply to its successor or successors by merger, consolidation or conversion. 

SECTION 7.10. Eligibility; Disqualification. This Indenture shall always have a Trustee. The Trustee shall have a combined capital and
surplus of at least $100 million as set forth in its most recent published annual report of condition. 
 SECTION 7.11.
[Reserved]. 
 SECTION 7.12. Trustee’s Application for Instruction from the Issuers. Any application by the Trustee for
written instructions from the Issuers may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such
omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be
less than three Business Days after the date any Officer of the Issuers actually receives such application, unless any such Officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in
the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 

  
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 ARTICLE VIII 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 8.1. Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance. The Issuers may, at their option and at any time,
elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII. 

SECTION 8.2. Legal Defeasance and Discharge. Upon the Issuer’s exercise under Section 8.1 hereof of the
option applicable to this Section 8.2, the Issuers and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be deemed to have been discharged
from their obligations with respect to all outstanding Notes (including the Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the
Issuers and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Guarantees), which will thereafter be deemed to be “outstanding” only for the purposes of
Section 8.5 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all of their other obligations under the Note Documents (and the Trustee, on written demand of
and at the expense of the Issuer, shall execute such instruments reasonably requested by the Issuer acknowledging the same) and to have cured all then existing Events of Default, except for the following provisions which will survive until otherwise
terminated or discharged hereunder: 
 (1) the rights of Holders of Notes issued under this Indenture to receive payments in
respect of the principal of, premium, if any, and interest, on the Notes when such payments are due solely out of the trust referred to in Section 8.4 hereof; 

(2) the Issuers’ obligations with respect to the Notes under Article II concerning issuing temporary Notes,
registration of such Notes, mutilated, destroyed, lost or stolen Notes and Section 3.12 hereof concerning the maintenance of an office or agency for payment and money for security payments held in trust; 

(3) the rights, powers, trusts, duties and immunities of the Trustee and the Issuers’ or Guarantors’ obligations in
connection therewith; and 
 (4) this Article VIII with respect to provisions relating to Legal Defeasance. 

SECTION 8.3. Covenant Defeasance. Upon the Issuers’ exercise under Section 8.1 hereof of the option
applicable to this Section 8.3, the Issuers and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be released from each of their
obligations under the covenants contained in Section 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.16, 3.19, 3.21 and
Section 4.1 (except Section 4.1(a)(1) and (a)(2)) hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.4 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. For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Guarantees, the Issuers
and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant
or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.1(a) hereof, but,
except as specified above, the remainder of this Indenture and such Notes and Guarantees will be unaffected thereby. In addition, upon the Issuers’ exercise under Section 8.1 hereof of the option applicable to this
Section 8.3, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, Sections 6.1(a)(3) (other than with respect to Section 4.1(a)(1) and
(a)(2)), 6.1(a)(4), 6.1(a)(5), 6.1(a)(6), 6.1(a)(7) (with respect only to a Guarantor that is a Significant Subsidiary or any group of Guarantors that taken together would constitute a Significant Subsidiary), and
6.1(a)(8) (with respect only to a Guarantor that is a Significant Subsidiaries or any group of Guarantors that taken together would constitute a Significant Subsidiary) hereof shall not constitute Events of Default. 

  
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 SECTION 8.4. Conditions to Legal or Covenant Defeasance. In order to exercise either Legal
Defeasance or Covenant Defeasance under either Section 8.2 or 8.3 hereof: 
 (1) the Issuers
must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm
of independent public accountants, to pay the principal of and premium, if any, interest, due on the Notes issued under this Indenture on the stated maturity date or on the applicable redemption date, as the case may be, and the Issuer must specify
whether such Notes are being defeased to maturity or to a particular redemption date; 
 (2) in the case of Legal Defeasance,
the Issuer shall have delivered to the Trustee an Opinion of Counsel to the effect that, subject to customary assumptions and exclusions; 

(A) the Issuer has received from, or there has been published by, the United States Internal Revenue Service a ruling; or 

(B) since the issuance of such Notes, there has been a change in the applicable U.S. federal income tax law; 

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and
exclusions, the beneficial owners of the Notes, in their capacity as beneficial owners of the 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 Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel to the effect
that, subject to customary assumptions and exclusions, the beneficial owners of the Notes, in their capacity as beneficial owners of the 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) no Default or Event of Default (other than that resulting from borrowing funds to be applied to make such deposit and the
granting of Liens in connection therewith) shall have occurred and be continuing on the date of such deposit; 
 (5) such
Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under the Credit Facilities or any other material agreement or instrument (other than this Indenture) to which, the Issuers or any
Guarantor is a party or by which the Issuers or any Guarantor is bound; 
 (6) [reserved]; 

(7) the Issuer shall have delivered to the Trustee an Officer’s Certificate to the effect that the deposit was not made by
the Issuers with the intent of defeating, hindering, delaying, defrauding or preferring any creditors of the Issuers or any Guarantor or others; and 

(8) the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel (which Opinion of
Counsel may be subject to customary assumptions and exclusions) each to the effect that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with. 

  
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 SECTION 8.5. Deposited Money and U.S. Government Obligations to be Held in Trust; Other
Miscellaneous Provisions. Subject to Section 8.6 hereof, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of
this Section 8.5, the “Trustee”) pursuant to Section 8.4 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 Issuers 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, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Issuers will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or U.S. Government
Obligations deposited pursuant to Section 8.4 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 VIII to the contrary, the Trustee will deliver or pay to the Issuers from time to
time upon the request of the Issuer any money or U.S. Government Obligations held by it as provided in Section 8.4 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 8.4(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. 
 SECTION 8.6. Repayment to the Issuers. Any money deposited with the Trustee or
any Paying Agent, or then held by the Issuers, in trust for the payment of the principal of, premium or interest on, any Note and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to
the Issuers on their written request unless an abandoned property law designates another Person 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 Issuers
for payment thereof unless an abandoned property law designates another Person, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuers as trustee thereof, will thereupon cease;
provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the Issuer cause to be published once, in the New York Times and The Wall Street Journal (national
edition), notice that such money remains unclaimed and that, after a date specified therein, which 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 Issuers. 
 SECTION 8.7. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. dollars or U.S.
Government Obligations in accordance with Section 8.2 or 8.3 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 Issuers’ and the Guarantors’ obligations under this Indenture and the Notes and the Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.2 or
8.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.2 or 8.3 hereof, as the case may be; provided, however, that, if the
Issuers make any payment of principal of, premium, or interest on, any Note following the reinstatement of its obligations, the Issuers will be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S.
Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE IX 

AMENDMENTS 
 SECTION 9.1.
Without Consent of Holders. Notwithstanding Section 9.2 of this Indenture, the Issuers, any Guarantor (with respect to its Guarantee or this Indenture) and the Trustee may amend, supplement or modify this Indenture,
any Guarantee, the Notes and the Escrow Agreement without the consent of any Holder: 
 (1) to cure any ambiguity, omission,
mistake, defect, error or inconsistency, conform any provision to any provision under the heading “Description of the Notes” in the Offering Circular or reduce the minimum denomination of the Notes; 

  
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 (2) to provide for the assumption by a successor Person of the obligations of the
Issuer, a Co-Issuer or a Guarantor under any Note Document; 
 (3) to provide for
Global Notes in addition to or in place of certificated Notes; 
 (4) to add to the covenants or provide for a Note Guarantee
for the benefit of the Holders or to surrender any right or power conferred upon the Issuer, any Co-Issuer or any Restricted Subsidiary; 

(5) to make any change that does not adversely affect the rights of any Holder in any material respect; 

(6) at the Issuers’ election, comply with any requirement of the SEC in connection with the qualification of this
Indenture under the TIA, if such qualification is required; 
 (7) make such provisions as necessary (as determined in good
faith by the Issuers) for the issuance of Additional Notes; 
 (8) provide for any Restricted Subsidiary to provide a Note
Guarantee in accordance with Section 3.2, to add Guarantees with respect to the Notes, to add security to or for the benefit of the Notes, or to confirm and evidence the release, termination, discharge or retaking of any Co-Issuer Obligation, Guarantee or Lien with respect to or securing the Notes when such release, termination, discharge or retaking is provided for under this Indenture; 

(9) evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee pursuant to the
requirements hereof or to provide for the accession by the Trustee to any Note Document; or 
 (10) make any amendment to the
provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including, without limitation, to facilitate the issuance and administration of Notes; provided, however, that
(i) compliance with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any other applicable securities law and (ii) such amendment does not adversely affect the rights of Holders
to transfer Notes in any material respect. 
 Subject to Section 9.2, upon the request of the Issuer accompanied
by a Board Resolution authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Sections 9.6 and 13.2 hereof, the Trustee will join with the Issuers and the
Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties, liabilities 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. 
 After an amendment or supplement
under this Section 9.1 becomes effective, the Issuer shall mail to Holders a notice briefly describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or
affect the validity of an amendment or supplement under this Section 9.1. 
 SECTION 9.2. With Consent of
Holders. Except as provided below in this Section 9.2, the Issuers, the Guarantors and the Trustee may amend or supplement this Indenture, any Guarantee and the Notes issued hereunder with the consent of the Holders of
at least a majority in aggregate principal amount of the outstanding Notes issued under this Indenture, including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes, and, subject to
Sections 6.4 and 6.7 hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, or interest on the Notes, except a payment default resulting from an
acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes and the Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the outstanding Notes issued under
this Indenture (including consents obtained in connection with a purchase of or tender offer or exchange offer for Notes). Section 2.12 hereof and Section 13.4 hereof shall determine which Notes
are considered to be “outstanding” for the purposes of this Section 9.2. 

  
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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 of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Sections 9.6 and
13.2 hereof, the Trustee will join with the Issuer and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties, liabilities 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. 

Without the consent of each Holder of Notes affected, an amendment, supplement or waiver may not, with respect to any Notes issued thereunder
and held by a nonconsenting Holder: 
 (1) reduce the principal amount of such Notes whose Holders must consent to an
amendment; 
 (2) reduce the stated rate of or extend the stated time for payment of interest on any such Note (other than
provisions relating to Section 3.5 and Section 3.9); 
 (3) reduce the
principal of or extend the Stated Maturity of any such Note (other than provisions relating to Section 3.5 and Section 3.9); 

(4) reduce the premium payable upon the redemption of any such Note or change the time at which any such Note may be redeemed,
in each case as set forth in Section 5.7; 
 (5) make any such Note payable in currency other than
that stated in such Note; 
 (6) impair the right of any Holder to institute suit for the enforcement of any payment of
principal of and interest on such Holder’s Notes on or after the due dates therefor; 
 (7) waive a Default or Event of
Default with respect to the nonpayment of principal, premium or interest (except pursuant to a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of such Notes and a waiver of the payment
default that resulted from such acceleration); or 
 (8) make any change in the amendment or waiver provisions which require
the Holders’ consent described in this Section 9.2. 
 It shall not be necessary for the consent of the
Holders under this Indenture to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment, supplement or waiver under this
Indenture by any Holder of the Notes given in connection with a tender or exchange of such Holder’s Notes will not be rendered invalid by such tender or exchange. 

After an amendment or supplement under this Section 9.2 becomes effective, the Issuer shall send to Holders a notice
briefly describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment or supplement. 

SECTION 9.3. Compliance with this Indenture. Every amendment or supplement to this Indenture, any Guarantee and the Notes will be set
forth in an amended or supplemental indenture that complies with this Indenture as then in effect. 

  
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 SECTION 9.4. Revocation and Effect of Consents and Waivers. Until an amendment, supplement
or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if
notation of the consent or waiver is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent or waiver as to such Holder’s Note or portion of 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. 

The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or
take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date (or their
duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent
shall be valid or effective for more than 120 days after such record date. 
 SECTION 9.5. 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 Issuers in exchange for all Notes may issue and the Trustee shall, upon receipt of an Issuer Order, authenticate 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 9.6. Trustee to Sign Amendments. The Trustee shall sign any
amended or supplemental indenture authorized pursuant to this Article IX 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 Sections 7.1 and 7.2 hereof) shall be fully protected in
conclusively relying upon, in addition to the documents required by Section 13.2 hereof, 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 and is valid, binding and enforceable against the Issuers in accordance with its terms. 
 ARTICLE
X 
 GUARANTEE 
 SECTION
10.1. Guarantee. Subject to the provisions of this Article X, each Guarantor that executes a supplemental indenture hereto will fully, unconditionally and irrevocably guarantee, as primary obligor and not merely as surety, jointly and
severally with each other Guarantor, to each Holder, and the Trustee the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the principal of, premium, if any, and interest on the Notes and all
other obligations and liabilities of the Issuers under this Indenture (including without limitation interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating
to the Issuers or any Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such proceeding and the obligations under Section 7.7), (all the foregoing being hereinafter collectively called
the “Guaranteed Obligations”). Each Guarantor agrees that the Guaranteed Obligations will rank equally in right of payment with other Indebtedness of such Guarantor, except to the extent such other Indebtedness is subordinate to the
Guaranteed Obligations, in which case the obligations of the Guarantors under the Guarantees will rank senior in right of payment to such other Indebtedness. 

To evidence its Guarantee set forth in this Section 10.1, each Guarantor hereby agrees that this Indenture shall be
executed on behalf of such Guarantor by an Officer of such Guarantor. 
 Each Guarantor hereby agrees that its Guarantee set forth in this
Section 10.1 shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes. 

  
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 If an Officer whose signature is on this Indenture no longer holds that office at the time the
Trustee authenticates the Note, the Guarantee shall be valid nevertheless. 
 Each Guarantor further agrees (to the extent permitted by law)
that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and that it will remain bound under this Article X notwithstanding any extension or renewal of any Guaranteed
Obligation. 
 Each Guarantor waives presentation to, demand of payment from and protest to the issuer of any of the Guaranteed Obligations
and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. 

Each Guarantor further agrees that its Guarantee herein constitutes a Guarantee of payment when due (and not a Guarantee of collection) and
waives any right to require that any resort be had by any Holder to any security held for payment of the Guaranteed Obligations. 
 Except
as set forth in Section 10.2, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than payment of the Guaranteed Obligations in
full), including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability
of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the Guaranteed Obligations of each Guarantor herein shall not be discharged or impaired or otherwise affected by (a) the failure of any Holder to assert
any claim or demand or to enforce any right or remedy against the Issuers or any other person under this Indenture, the Notes or any other agreement or otherwise; (b) any extension or renewal of any thereof; (c) any rescission, waiver,
amendment or modification of any of the terms or provisions of this Indenture, the Notes or any other agreement; (d) the release of any security held by any Holder for the Guaranteed Obligations; (e) the failure of any Holder to exercise
any right or remedy against any other Guarantor; (f) any change in the ownership of the Issuer; (g) any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations; or (h) any other act or thing
or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise operate as a discharge of such Guarantor as a matter of law or equity. 

Each Guarantor agrees that its Guarantee herein shall remain in full force and effect until payment in full of all the Guaranteed Obligations
or such Guarantor is released from its Guarantee in compliance with Section 10.2, Article VIII or Article XI. Each Guarantor further agrees that its Guarantee herein shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of principal of, premium, if any, interest on any of the Guaranteed Obligations is rescinded or must otherwise be restored by any Holder upon the bankruptcy or
reorganization of the Issuer or otherwise. 
 In furtherance of the foregoing and not in limitation of any other right which any Holder has
at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuers to pay any of the Guaranteed Obligations when and as the same shall become due, whether at maturity, by acceleration, by redemption or otherwise, each
Guarantor hereby promises to and will, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the Trustee on behalf of the Holders an amount equal to the sum of (i) the unpaid amount of
such Guaranteed Obligations then due and owing and (ii) accrued and unpaid interest on such Guaranteed Obligations then due and owing (but only to the extent not prohibited by law) (including interest accruing after the filing of any petition
in bankruptcy or the commencement of any insolvency, reorganization or like proceeding relating to the Issuers or any Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such proceeding). 

Each Guarantor further agrees that, as between such Guarantor, on the one hand, and the Holders, on the other hand, (x) the maturity of
the Guaranteed Obligations guaranteed hereby may be accelerated as provided in this Indenture for the purposes of its Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the
Guaranteed Obligations guaranteed hereby and (y) in the event of any such declaration of acceleration of such Guaranteed Obligations, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by the
Guarantor for the purposes of this Guarantee. 

  
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 Each Guarantor also agrees to pay any and all fees, costs and expenses (including attorneys’
fees and expenses) incurred by the Trustee or the Holders in enforcing any rights under this Section 10.1. 

SECTION 10.2. Limitation on Liability; Termination, Release and Discharge. 

(a) Any term or provision of this Indenture to the contrary notwithstanding, the obligations of each Guarantor hereunder will be limited to the
maximum amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such
other Guarantor under its Guarantee or pursuant to its contribution obligations under this Indenture, result in the obligations of such Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal,
foreign, state or provincial law and not otherwise being void or voidable under any similar laws affecting the rights of creditors generally. 

(b) Any Note Guarantee of a Guarantor shall be automatically and unconditionally released and discharged upon: 

(1) a sale, exchange, transfer or other disposition (including by way of consolidation, merger, amalgamation or otherwise) of
the Capital Stock of such Guarantor or the sale or disposition of all or substantially all the assets of the Guarantor to a Person other than to the Issuer or a Restricted Subsidiary and as otherwise permitted by this Indenture; 

(2) the designation in accordance with this Indenture of the Guarantor as an Unrestricted Subsidiary or the occurrence of any
event after which the Guarantor is no longer a Restricted Subsidiary; 
 (3) defeasance or discharge of the Notes pursuant to
Article VIII or Article XI; 
 (4) to the extent that such Guarantor is not an Immaterial Subsidiary solely due
to the operation of clause (i) of the definition of “Immaterial Subsidiary,” upon the release of the guarantee referred to in such clause; 

(5) such Guarantor being released from all of (i) its obligations under all of its Guarantees of payment by the Issuers of
any Indebtedness of the Issuers under the Credit Agreements or (ii) in the case of a Note Guarantee made by a Guarantor (each, an “Other Guarantee”) as a result of its guarantee of other Indebtedness of the Issuers or a
Guarantor pursuant to Section 3.7 hereof, the relevant Indebtedness, except in the case of (i) or (ii), a release as a result of the payment under such Guarantee (it being understood that a release subject to a
contingent reinstatement is still considered a release, and if any such Guarantee of such Guarantor under the Credit Agreements or any Other Guarantee is so reinstated, such Note Guarantee shall also be reinstated); or 

(6) upon the achievement of Investment Grade Status by the Notes; provided that such Note Guarantee shall be reinstated
upon the Reversion Date. 
 SECTION 10.3. Termination of Co-Issuer Obligations. The
Obligations under this Indenture of any Co-Issuer will terminate upon: 
 (1) a sale,
exchange, transfer or other disposition (including by way of consolidation, merger or amalgamation) of the Capital Stock of such Co-Issuer or the sale or disposition of all or substantially all the assets of
the Co-Issuer to a Person other than to the Issuer or a Restricted Subsidiary and as otherwise permitted by this Indenture; 

(2) the designation in accordance with this Indenture of the Co-Issuer as an
Unrestricted Subsidiary or the occurrence of any event after which the Co-Issuer is no longer a Restricted Subsidiary; 

(3) defeasance or discharge of the Notes, as provided in Article VIII and Article XI; 

  
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 (4) such Co-Issuer being released from
all of its Obligations under the Credit Agreements, except a release as a result of payment under the Credit Agreements (it being understood that a release subject to a contingent reinstatement is still considered a release, and if any such
Obligation of such Co-Issuer under the Credit Agreements is so reinstated, such obligation of payment under the Notes shall also be reinstated); or 

(5) upon the achievement of Investment Grade Status by the Notes; provided that the Obligations of the Co-Issuer shall be reinstated upon the Reversion Date. 
 If any Co-Issuer becomes
an Immaterial Subsidiary, the Issuer shall have the right, by execution and delivery of a supplemental indenture to the Trustee, to cause such Immaterial Subsidiary to cease to be a Co-Issuer, subject to the
requirement described in the first paragraph under Section 3.7 that such Subsidiary shall be required to become a Co-Issuer or Guarantor if it ceases to be an Immaterial Subsidiary
(except that if such Subsidiary has been properly designated as an Unrestricted Subsidiary it shall not be so required to become a Co-Issuer or Guarantor or execute a supplemental indenture); provided,
further, that such Immaterial Subsidiary shall not be permitted to Guarantee or be a co-obligor under the Credit Agreements or other Indebtedness of the Issuer or the other Co-Issuers or Guarantors, unless it again becomes a Co-issuer or becomes a Guarantor. 

SECTION 10.4. Right of Contribution. Each Guarantor hereby agrees that to the extent that any Guarantor shall have paid more than its
proportionate share of any payment made on the obligations under the Guarantees, such Guarantor shall be entitled to seek and receive contribution from and against the Issuers or any other Guarantor who has not paid its proportionate share of such
payment. The provisions of this Section 10.4 shall in no respect limit the obligations and liabilities of each Guarantor to the Trustee and the Holders and each Guarantor shall remain liable to the Trustee and the Holders
for the full amount guaranteed by such Guarantor hereunder. 
 SECTION 10.5. No Subrogation. Notwithstanding any payment or payments
made by each Guarantor hereunder, no Guarantor shall be entitled to be subrogated to any of the rights of the Trustee or any Holder against the Issuers or any other Guarantor or any collateral security or guarantee or right of offset held by the
Trustee or any Holder for the payment of the Guaranteed Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Issuers or any other Guarantor in respect of payments made by such Guarantor
hereunder, until all amounts owing to the Trustee and the Holders by the Issuers on account of the Guaranteed Obligations are paid in full. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of
the Guaranteed Obligations shall not have been paid in full, such amount shall be held by such Guarantor in trust for the Trustee and the Holders, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be
turned over to the Trustee in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Trustee, if required), to be applied against the Guaranteed Obligations. 

ARTICLE XI 
 SATISFACTION AND
DISCHARGE 
 SECTION 11.1. Satisfaction and Discharge. This Indenture will be discharged and will cease to be of further effect
as to all Notes issued hereunder, when: 
 (a) either: 

(1) all Notes that have been authenticated and delivered, except lost, stolen or destroyed Notes that have been replaced or
paid and Notes for whose payment money has theretofore been deposited in trust, have been delivered to the Trustee for cancellation; or 

(2) all such Notes not theretofore delivered to the Trustee for cancellation (i) have become due and payable by reason of
the making of a notice of redemption or otherwise or (ii) will become due and payable within one year at their Stated Maturity or (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption by the Trustee, in the name, and at the expense of the Issuers; 

  
 -108- 

 (b) the Issuers have 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, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the
entire indebtedness on such Notes not previously delivered to the Trustee for cancellation, for principal, premium, if any, and interest to the date of deposit (in the case of Notes that have become due and payable), or to the Stated Maturity or
redemption date, as the case may be; 
 (c) no Default or Event of Default (other than that resulting from borrowing funds to be applied to
make such deposit and the granting of Liens in connection therewith) with respect to this Indenture or the Notes issued hereunder shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such
deposit will not result in a breach or violation of, or constitute a default under the Credit Facilities or any other material agreement or instrument (other than this Indenture) to which the Issuers or any Guarantor is a party or by which the
Issuers or any Guarantor is bound; 
 (d) the Issuers or any Guarantor has paid or caused to be paid all sums payable by the Issuers under
this Indenture; and 
 (e) the Issuers have delivered irrevocable instructions to the Trustee to apply the deposited money in U.S. dollars
toward the payment of such Notes issued hereunder at maturity or the redemption date, as the case may be. 
 In addition, the Issuer shall
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. 

Notwithstanding the satisfaction and discharge of this Indenture, the Issuers’ obligations to the Trustee in
Section 7.7 hereof and, if money in U.S. dollars has been deposited with the Trustee pursuant to clause (a)(2) of this Section 11.1, the provisions of Sections 11.2 and 8.6 hereof
will survive. 
 SECTION 11.2. Application of Trust Money. Subject to the provisions of Section 8.6 hereof,
all money in U.S. dollars or U.S. Government Obligations deposited with the Trustee pursuant to Section 11.1 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 (and premium) and interest for whose payment
such money in U.S. dollars or U.S. Government Obligations has been deposited with the Trustee; but such money in U.S. dollars or U.S. Government Obligations 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 Obligations in accordance with
Section 11.1 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 Issuers’ and any
Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.1 hereof; provided that if the Issuers have made any payment of
principal of, premium or interest on, any Notes because of the reinstatement of its obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by
the Trustee or Paying Agent. 

  
 -109- 

 ARTICLE XII 

ESCROW MATTERS 
 SECTION
12.1. Escrow Account. On the Issue Date, the Issuer and the Trustee will enter into the Escrow Agreement, and on the Issue Date, the Issuer will deposit (or cause to be deposited) the gross proceeds of the offering of the Notes sold on the
Issue Date into the Escrow Account and the Issuer will also deposit (or cause to be deposited) to the Escrow Account an amount of cash and/or U.S. Government Obligations that, when taken together with the proceeds of the offering of the Notes
deposited into the Escrow Account, will be sufficient to fund a Special Mandatory Redemption of the Notes on October 31, 2016, if a Special Mandatory Redemption were to occur on such date, plus an amount equal to six days of interest accrued on
the Notes. 
 In addition, on the date that is five Business Days prior to the last day of each month beginning on October 31,
2016, and ending on April 30, 2017 (in each case, unless the Escrow Release Date has occurred or a Special Mandatory Redemption has been effected), the Issuer will deposit (or cause to be deposited) to the Escrow Account an amount of cash
and/or U.S. Government Obligations equal to one month of interest accrued on the Notes (or with respect to the deposit five Business Days prior to April 30, 2017, equal to interest from April 30, 2017 to and including May 27, 2017)
(in each case, as calculated in accordance with the terms of this Indenture). 
 Other than in connection with the payment of a semi-annual
interest payment as set forth in Section 2.15, the Issuer will only be entitled to direct the Escrow Agent to release Escrowed Property (in which case the Escrowed Property will be paid to or as directed by the Issuer) upon
delivery to the Escrow Agent and the Trustee, on or prior to May 27, 2017, of an Officer’s Certificate (as defined in the Escrow Agreement), certifying that the Escrow Conditions have been, or substantially concurrently with the release of
the Escrowed Property, will be, satisfied. 
 SECTION 12.2. Special Mandatory Redemption. If a Special Mandatory Redemption of the
Notes is to occur pursuant to Section 5.9 hereof, the Escrow Agent will cause the liquidation of all Escrowed Property then held by it and cause the release of the proceeds of such liquidated Escrowed Property to the
Trustee in accordance with the terms of the Escrow Agreement. The Trustee shall apply such proceeds to the payment of the Special Mandatory Redemption Price, as set forth in Section 5.9 hereof. 

SECTION 12.3. Release of Escrowed Property. Upon the satisfaction of the Escrow Conditions, the Escrow Agreement provides that the
Escrow Agent will cause the liquidation of all Escrowed Property then held by it and cause the release of the proceeds of such liquidated Escrowed Property to or on the order of the Issuer on the Escrow Release Date in accordance with the terms of
the Escrow Agreement. 
 SECTION 12.4. Trustee Direction to Execute Escrow Agreement. The Trustee is hereby authorized and directed
to execute and deliver the Escrow Agreement. 
 ARTICLE XIII 

MISCELLANEOUS 
 SECTION
13.1. Notices. Any notice, request, direction, consent or communication made pursuant to the provisions of this Indenture or the Notes shall be in writing and delivered in person, sent by facsimile, sent by electronic mail in pdf format,
delivered by commercial courier service or mailed by first-class mail, postage prepaid, addressed as follows: 
 if to the Issuers or to any
Guarantor: 
 [Double Eagle Acquisition Sub, Inc. 

c/o Advent International Corporation 

75 State Street 
 Boston, MA 02109

 Attention: President]3 

[inVentiv Group Holdings, Inc. 
 1
Van de Graaff Drive 
 Burlington, MA 01803 

 

	3	To be used before the Escrow Release Date. 

  
 -110- 

 Attention: General Counsel]4 

with a copy to: 

Kirkland & Ellis LLP 

601 Lexington Ave 
 New York, New
York 10022 
 Attention: Joshua Korff, Esq. 

Facsimile: (212) 446-4900 

if to the Trustee, at its corporate trust office, which corporate trust office for purposes of this Indenture is at the date hereof located at:

 Wilmington Trust, National Association 

50 South Sixth Street, Suite 1290 

Minneapolis, Minnesota 55402 

Attention: [Double Eagle Acquisition Sub, Inc./inVentiv Group Holdings, Inc.] Administrator 

Telecopy: (612) 217-5651 

The Issuer or the Trustee by written notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication to the Issuers or the Guarantors shall be deemed to have been given or made as of the date so
delivered if personally delivered or if delivered electronically, in pdf format; when receipt is acknowledged, if telecopied; and seven calendar days after mailing if sent by registered or certified mail, postage prepaid (except that a notice of
change of address shall not be deemed to have been given until actually received by the addressee). Any notice or communication to the Trustee shall be deemed delivered upon receipt. 

Any notice or communication sent to a Holder shall be mailed to the Holder at the Holder’s address as it appears in the Notes Register
and shall be sufficiently given if so sent within the time prescribed. 
 Failure to mail a notice or communication to a Holder or any
defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is sent in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee shall be
effective only upon receipt. 
 Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any Note provides
for notice of any event (including any notice of redemption or purchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to DTC (or its designee) pursuant to the standing instructions
from DTC or its designee. 
 SECTION 13.2. Certificate and Opinion as to Conditions Precedent Upon any request or application by the
Issuers or any of the Guarantors to the Trustee to take or refrain from taking any action under this Indenture, the Issuer, such Co-Issuer or such Guarantor, as the case may be, shall furnish to the Trustee:

 (1) an Officer’s Certificate in form satisfactory to the Trustee (which shall include the statements set forth in
Section 13.3 hereof) stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 

(2) an Opinion of Counsel in form satisfactory to the Trustee (which shall include the statements set forth in
Section 13.3 hereof) stating that, in the opinion of such counsel, all such conditions precedent have been satisfied and all covenants have been complied with. 

 

	4	To be used on and after the Escrow Release Date. 

  
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 SECTION 13.3. Statements Required in Certificate or Opinion. Each certificate or opinion
with respect to compliance with a covenant or condition provided for in this Indenture: 
 (1) a statement that the
individual 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; 

(3) a statement that, in the opinion of such individual, he has made such examination or investigation as is necessary to
enable such individual to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with.

 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officer’s Certificate or on certificates of public
officials. 
 SECTION 13.4. When Notes Disregarded. In determining whether the Holders of the required aggregate principal amount of
Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, any Co-Issuer, any Guarantor or any Affiliate of them shall be disregarded and deemed not to be outstanding, except that,
for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject to the
foregoing, only Notes outstanding at the time shall be considered in any such determination. 
 SECTION 13.5. Rules by Trustee, Paying
Agent and Registrar. The Trustee may make reasonable rules for action by, or at meetings of, Holders. The Registrar and the Paying Agent may make reasonable rules for their functions. 

SECTION 13.6. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or other day on which commercial banking
institutions are authorized or required to be closed in New York, New York or the state of the place of payment. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest
shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected. 
 SECTION
13.7. Governing Law. THIS INDENTURE, THE NOTES AND THE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 13.8. Jurisdiction. The Issuers and the Guarantors agree that any suit, action or proceeding against the Issuer, any Co-Issuer or any Guarantor brought by any Holder or the Trustee arising out of or based upon this Indenture, the Guarantee or the Notes may be instituted in any state or Federal court in the Borough of Manhattan,
New York, New York, and any appellate court from any thereof, and each of them irrevocably submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Issuers and the
Guarantors irrevocably waive, to the fullest extent permitted by law, any objection to any suit, action, or proceeding that may be brought in connection with this Indenture, the Guarantee or the Notes, including such actions, suits or proceedings
relating to securities laws of the United States of America or any state thereof, in such courts whether on the grounds of venue, residence or domicile or on the ground that any such suit, action or proceeding has been brought in an inconvenient
forum. The Issuers and the Guarantors agree that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Issuer, the Co-Issuers or the Guarantors,
as the case may be, and may be enforced in any court to the jurisdiction of which the Issuer, the Co-Issuers or the Guarantors, as the case may be, are subject by a suit upon such judgment. 

  
 -112- 

 SECTION 13.9. Waivers of Jury Trial. EACH OF THE COMPANY, THE GUARANTORS AND THE
TRUSTEE HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE GUARANTEES
AND FOR ANY COUNTERCLAIM THEREIN. 
 SECTION 13.10. USA PATRIOT Act. The parties hereto acknowledge that in accordance with
Section 326 of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or
legal entity that establishes a relationship or opens an account. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order to satisfy the requirements of the USA PATRIOT Act. 

SECTION 13.11. No Recourse Against Others. No director, officer, employee, incorporator or shareholder of the Issuer or any of its
respective Subsidiaries or Affiliates, or such (other than the Issuer, the Co-Issuers and the Guarantors), shall have any liability for any obligations of the Issuers or the Guarantors under the Notes, the
Guarantees or this Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration
for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

SECTION 13.12. Successors. All agreements of the Issuers and each Guarantor in this Indenture and the Notes shall bind their respective
successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION 13.13. Multiple Originals. The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission
shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be
their original signatures for all purposes. 
 SECTION 13.14. Table of Contents; Headings. 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 intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

SECTION 13.15. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, it being understood that the Trustee shall use reasonable best efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 SECTION 13.16.
Severability. In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

[Signature on following pages] 

  
 -113- 

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

					
	 DOUBLE EAGLE ACQUISITION SUB, INC.

		
	By:	 	 /s/ James Westra

		 	 Name:
	 	 James Westra

		 	 Title:
	 	 President and Secretary

 [Signature Page to the Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Lynn M. Steiner

	Name:	 	Lynn M. Steiner
	Title:	 	Vice President

  
 [Signature Page to the
Indenture] 

 EXHIBIT A 

[FORM OF FACE OF GLOBAL RESTRICTED NOTE] 

[Applicable Restricted Notes Legend] 

[Depository Legend, if applicable] 

[OID Legend, if applicable] 
  

			
	No. [        ]	  	 Principal Amount $[            ] [as revised by the Schedule of Increases and
Decreases in Global Note attached hereto]1
 CUSIP NO.
                    

 [DOUBLE EAGLE ACQUISITION SUB, INC.] 

[INVENTIV GROUP HOLDINGS, INC., 

INVENTIV HEALTH, INC. AND INVENTIV HEALTH CLINICAL, INC.] 

7.500% Senior Notes due 2024 

[Double Eagle Acquisition Sub, Inc., a Delaware corporation (“Issuer”)] [inVentiv Group Holdings, Inc., a Delaware
corporation (“Issuer”), and inVentiv Health, Inc., a Delaware corporation, and inVentiv Health Clinical, Inc., a Delaware corporation (each, a “Co-Issuer,” together, the
“Co-Issuers,” and together with the Issuer, the “Issuers”)], promise[s] to pay to [Cede & Co.],2 or its
registered assigns, the principal sum of              U. S. dollars, [as revised by the Schedule of Increases and Decreases in Global Note attached hereto],3 on October 1, 2024. 
 Interest Payment Dates: April 1 and October 1,
commencing on April 1, 2017 
 Record Dates: March 15 and September 15 

Additional provisions of this Note are set forth on the other side of this Note. 

 

	1 	Insert in Global Notes only. 

	2 	Insert in Global Notes only. 

	3 	Insert in Global Notes only. 

  
 A-1 

 IN WITNESS WHEREOF, [each of] the Issuer[s] has caused this instrument to be duly executed. 

 

			
	[DOUBLE EAGLE ACQUISITION SUB, INC.]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[INVENTIV GROUP HOLDINGS, INC.]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[INVENTIV HEALTH, INC.]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[INVENTIV HEALTH CLINICAL, INC.]
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-2 

 TRUSTEE CERTIFICATE OF AUTHENTICATION 

This Note is one of the 7.500% Senior Notes due 2024 referred to in the within-mentioned Indenture. 

 

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated:
                             

  
 A-3 

 [FORM OF REVERSE SIDE OF NOTE] 

[DOUBLE EAGLE ACQUISITION SUB, INC.] 

[INVENTIV GROUP HOLDINGS, INC., 

INVENTIV HEALTH, INC. AND INVENTIV HEALTH CLINICAL, INC.] 

7.500% SENIOR NOTES DUE 2024 

Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. 

1. Interest 
 The Issuer[s] promise[s] to
pay interest on the principal amount of this Note at 7.500% per annum from October 14, 2016 until maturity. The Issuer[s] will pay interest semi-annually in arrears every April 1 and October 1 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 shall 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 the first Interest Payment Date shall be April 1, 2017. The Issuer[s] shall pay interest on overdue principal at the rate specified herein, and it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful. Interest on the Notes will be computed on the basis of a
360-day year comprised of twelve 30-day months. 
 2. Method of
Payment 
 By no later than 11:00 a.m. (New York City time) on the date on which any principal of, premium, if any, or interest, on any
Note is due and payable, the Issuer[s] shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay such principal, premium, interest when due. Interest on any Note which is payable, and is timely paid or duly provided
for, on any Interest Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the preceding March 15 and September 15 at the office or agency of the
Issuer maintained for such purpose pursuant to Section 2.3 of the Indenture. The principal of (and premium, if any) and interest on the Notes shall be payable at the office or agency of Paying Agent or Registrar designated
by the Issuer maintained for such purpose (which shall initially be the office of the Trustee maintained for such purpose), or at such other office or agency of the Issuer as may be maintained for such purpose pursuant to
Section 2.3 of the Indenture; provided, however, that, at the option of the Paying Agent, each installment of interest may be paid by (i) check mailed to addresses of the Persons entitled thereto as such
addresses shall appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of this paragraph. Payments in respect of Notes represented by a Global Note
(including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company or any successor depository. Payments in respect of Notes represented by
Definitive Notes (including principal, premium, if any, and interest) held by a Holder of at least $1,000,000 aggregate principal amount of Notes represented by Definitive Notes will be made in accordance with the Notes Register, or by wire transfer
to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating such account no later than 15
days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). If an Interest Payment Date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal
Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date shall not be affected. 
 3.
Paying Agent and Registrar 
 The Issuer initially appoints Wilmington Trust, National Association (the “Trustee”) as
Registrar and Paying Agent for the Notes. The Issuer may change any Registrar or Paying Agent without prior notice to the Holders. The Issuer[s] or any Guarantor may act as Paying Agent, Registrar or transfer agent. 

  
 A-4 

 4. Indenture 

The Issuer issued the Notes under an Indenture dated as of October 14, 2016, among the Issuer and the Trustee[, as supplemented by the
First Supplemental Indenture dated as of [            ], among the Issuers, the Guarantors named therein and the Trustee] (as it may be [further] amended or supplemented from time to time
in accordance with the terms thereof, the “Indenture”). The terms of the Notes include those stated in the Indenture. The Notes are subject to all terms and provisions of the Indenture, and Holders are referred to the Indenture for
a statement of those terms. In the event of a conflict between the terms of the Notes and the terms of the Indenture, the terms of the Indenture shall control. 

The Notes are senior obligations of the Issuer[s]. The aggregate principal amount of Notes that may be authenticated and delivered under the
Indenture is unlimited. This Note is one of the 7.500% Senior Notes due 2024 referred to in the Indenture. The Notes include (i) $675,000,000 principal amount of the Issuer’s 7.500% Senior Notes due 2024 issued under the Indenture on
October 14, 2016 (the “Initial Notes”) and (ii) if and when issued, additional Notes that may be issued from time to time under the Indenture subsequent to October 14, 2016 (the “Additional Notes”) as
provided in Section 2.1(a) of the Indenture. The Initial Notes and the Additional Notes shall be considered collectively as a single class for all purposes of the Indenture; provided that the Additional Notes will
not be issued with the same CUSIP as the existing Notes unless such Additional Notes are fungible with the existing Notes for U.S. federal income tax purposes. The Indenture imposes certain limitations on the incurrence of indebtedness, the making
of restricted payments, the sale of assets, the incurrence of certain liens, the making of payments for consents, the entering into of agreements that restrict distribution from restricted subsidiaries and the consummation of mergers and
consolidations. The Indenture also imposes requirements with respect to the provision of financial information and the provision of guarantees of the Notes by certain subsidiaries. 

5. Guarantees 
 From and after the Escrow
Release Date, to guarantee the due and punctual payment of the principal, premium, if any, interest (including post-filing or post-petition interest in any proceeding under Bankruptcy Law) on the Notes and all other amounts payable by the Issuers
under the Indenture and the Notes when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, each Guarantor will unconditionally guarantee (and future
guarantors, jointly and severally with the Guarantors, will fully and unconditionally Guarantee) such obligations on a senior basis pursuant to the terms of the Indenture. 

6. Redemption 
 (a) At any time prior to
October 1, 2019, the Issuer may redeem the Notes in whole or in part, at its option, upon not less than 15 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in
the Notes Register, at a redemption price (expressed as percentages of principal amount of the Notes to be redeemed) equal to 100.000% of the principal amount of Notes redeemed plus the relevant Applicable Premium as of, and accrued and unpaid
interest, if any, to but excluding the date of redemption (the “Redemption Date”), subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 

(b) At any time and from time to time prior to October 1, 2019, the Issuer may on one or more occasions, upon not less than 15 nor more
than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, redeem up to 40.0% of the original aggregate principal amount of Notes issued under this Indenture at
a redemption price (expressed as percentages of principal amount of the Notes to be redeemed) equal to 107.500% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to but excluding, the applicable Redemption Date,
subject to the right of Holders of record of the Notes on the relevant record date to receive interest due on the relevant interest payment date, with the Net Cash Proceeds received by the Issuer of one or more Equity Offerings of the Issuer;
provided that not less than 50.0% of the original aggregate principal amount of Notes initially issued under the Indenture remains outstanding immediately after the occurrence of each such redemption (excluding Notes held by the Issuer or any
of its Restricted Subsidiaries); provided further that each such redemption occurs not later than 180 days after the date of closing of the related Equity Offering. The Trustee shall select the Notes to be purchased in the manner described
under Sections 5.1 through 5.6 of the Indenture. 

  
 A-5 

 (c) Except pursuant to clauses (a) and (b) of this paragraph 6, the Notes will not be
redeemable at the Issuer’s option prior to October 1, 2019. 
 (d) At any time and from time to time on or after October 1,
2019, the Issuer may redeem the Notes, in whole or in part, upon not less than 15 nor more than 60 days’ prior notice, with a copy to the Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register at the
redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest thereon, if any, to but excluding the applicable Redemption Date, subject to the right of
Holders of record of the Notes on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the twelve-month period beginning on October 1 of each of the years indicated in the table below: 

 

					
	 Period
	  	Percentage	 
	 2019
	  	 	103.750	% 
	 2020
	  	 	101.875	% 
	 2021 and thereafter
	  	 	100.000	% 

 (e) Notwithstanding the foregoing, in connection with any tender offer for the Notes, including a Change of
Control Offer or Asset Disposition Offer, if Holders of not less than 90.0% in aggregate principal amount of the outstanding Notes validly tender and do not 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 withdrawn by such Holders, the Issuer or such third party shall have the right upon not less than 15 nor more than 60 days’ prior notice, with a copy to the
Trustee, to each Holder of Notes to the address of such Holder appearing in the Notes Register, given not more than 15 days following such purchase date to redeem all Notes that remain outstanding following such purchase at a redemption price equal
to the price offered to each other Holder in such tender offer plus, to the extent not included in the tender offer payment, accrued and unpaid interest, if any, thereon, to but not including, the date of such redemption. 

(f) Unless the Issuer defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called
for redemption on the applicable Redemption Date. 
 (g) Any redemption pursuant to this paragraph 6 shall be made pursuant to the provisions
of Sections 5.1 through 5.6 of the Indenture. 
 Except as set forth in paragraph 7, the Issuer is not required to make
mandatory redemption or sinking fund payments with respect to the Notes. Prior to the Escrow Release Date, the Notes will be secured by a first-priority lien on the Escrow Account. 

[7. Special Mandatory Redemption 
 (a) If
(1) the Escrow Agent has not received the Officer’s Certificate described in Section 12.1 of the Indenture on or prior to May 27, 2017, (2) the Issuer notifies the Escrow Agent and the Trustee in writing that
the Issuer will not pursue the consummation of the Acquisition and that the Acquisition Agreement has been terminated, or (3) the Issuer fails to timely deposit (or cause to be timely deposited) any amounts required by the second paragraph
under Section 12.1 of the Indenture within three Business Days of the applicable deposit date (each of the above, a “Special Mandatory Redemption Event”), then the Escrow Agreement provides that the Escrow
Agent shall, without the requirement of notice to or action by the Issuer, the Trustee or any other Person, liquidate and release all of the Escrowed Property (including investment earnings thereon and proceeds thereof) to the Trustee and the
Trustee shall apply (or cause a paying agent to apply) such proceeds to redeem the Notes (the “Special Mandatory Redemption”) on the third Business Day following the Special Mandatory Redemption Event (the “Special Mandatory
Redemption Date”) or as otherwise required by the applicable procedures of DTC, at a redemption price (the “Special Mandatory Redemption Price”), equal to 100% of the issue price of the Notes, plus accrued and unpaid
interest from the Issue Date or the most recent date to which interest has been paid or duly 

  
 A-6 

 provided for on the Notes, as the case may be, to, but excluding, the Special Mandatory Redemption Date. On the
Special Mandatory Redemption Date, after payment of any fees and expenses of the Trustee and the Escrow Agent, the Trustee will pay to the Issuer any Escrowed Property in excess of the amount necessary to effect the Special Mandatory Redemption in
accordance with the Issuer’s written instructions. 
 (b) The Trustee shall give notice of redemption to the Holders, substantially in
the form attached as Exhibit C to the Indenture, in the Issuer’s name and at the Issuer’s expense at least three Business Days or as soon as practicable prior (or otherwise in accordance with DTC procedures) to such Special
Mandatory Redemption Date. In the event that the funds on deposit in the Escrow Account are insufficient to redeem the Notes on the Special Mandatory Redemption Date, the Issuer shall promptly pay such deficiency to the Trustee to be used by the
Trustee to disburse the Special Mandatory Redemption Price. 
 (c) Any redemption made pursuant to this paragraph 7 and
Section 5.9 of the Indenture shall be made pursuant to the procedures set forth in this Indenture and the Escrow Agreement, except to the extent inconsistent with this paragraph 7 or Section 5.9 of
the Indenture. The Issuer shall not be required to make any mandatory redemption or sinking fund payments with respect to the Notes, except pursuant to paragraph 7(a) above or pursuant to Section 5.9 of the Indenture.]4 
 [7. Reserved]5 

8. Repurchase Provisions 
 If a Change of
Control occurs, each Holder will have the right to require the Issuer to repurchase from each Holder all or any part (equal to $ 2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal
to 101.0% of the aggregate principal amount thereof plus accrued and unpaid interest, to but excluding the date of purchase; provided that if the repurchase date is on or after the record date and on or before the corresponding interest payment
date, then Holders in whose name the Notes are registered at the close of business on such record date will receive interest on the repurchase date, as provided in, and subject to the terms of, the Indenture. 

Upon certain Asset Dispositions, the Issuer may be required to use the Excess Proceeds from such Asset Dispositions to offer to purchase Notes
and, at the Issuer’s option, Pari Passu Indebtedness out of the Excess Proceeds in accordance with the procedures set forth in Section 3.5 and in Article V of the Indenture. 

9. Denominations; Transfer; Exchange 
 The
Notes shall be issuable only in fully registered form in minimum denominations of principal amount of $2,000 and any integral multiple of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The
Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay a sum sufficient to cover any tax and fees required by law or permitted by the Indenture. The Registrar need not register the
transfer of or exchange of any Note (A) for a period beginning (1) 15 calendar days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing or (2) 15 calendar days
before an Interest Payment Date and ending on such Interest Payment Date or (B) called for redemption, except the unredeemed portion of any Note being redeemed in part. 

10. Persons Deemed Owners 
 The registered
Holder of this Note may be treated as the owner of it for all purposes. 
  

	4	To be used before the Escrow Release Date. 

	5	To be used on and after the Escrow Release Date. 

  
 A-7 

 11. Unclaimed Money 

If money for the payment of principal, premium, if any, interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the
money back to the Issuer at its written request unless an abandoned property law designates another Person to receive such money. After any such payment, Holders entitled to the money must look only to the Issuer[s] and not to the Trustee for
payment as general creditors unless an abandoned property law designates another person for payment. 
 12. Discharge and Defeasance 

Subject to certain exceptions and conditions set forth in the Indenture, the Issuer[s] at any time may terminate some or all of [its] [their]
obligations under the Notes and the Indenture if the Issuer[s] deposit[s] with the Trustee money or U.S. Government Obligations for the payment of principal, premium, if any and interest on the Notes to redemption or maturity, as the case may be.

 13. Amendment, Supplement, Waiver 

Subject to certain exceptions contained in the Indenture, the Indenture and the Notes may be amended, or a Default thereunder may be waived,
with the consent of the Holders of a majority in aggregate principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the Issuer[s], the Guarantors and the Trustee may amend or supplement the Indenture and the Notes
as provided in the Indenture. 
 14. Defaults and Remedies 

If an Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer[s]
or certain Guarantors) occurs and is continuing, the Trustee by notice to the Issuer, or the Holders of at least 30.0% in aggregate principal amount of the outstanding Notes by notice to the Issuer and the Trustee, may declare the principal of and
accrued and unpaid interest, and any other monetary obligations on all the Notes to be due and payable immediately. Upon the effectiveness of such declaration, such principal, interest, and other monetary obligations will be due and payable
immediately. If a bankruptcy, insolvency or reorganization of the Issuer or a Significant Subsidiary (or any group of Restricted Subsidiaries, that taken together as of the latest audited consolidated financial statements for the Issuer and its
Restricted Subsidiaries, would constitute a Significant Subsidiary) occurs and is continuing, the principal of and accrued and unpaid interest and any other monetary obligations on all the Notes will become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in aggregate principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its
consequences. 
 15. Trustee Dealings with the Issuer[s] 

Subject to certain limitations set forth in the Indenture, the Trustee in its individual or any other capacity may become the owner or pledgee
of Notes and may otherwise deal with the Issuer[s], Guarantors or their Affiliates with the same rights it would have if it were not Trustee. In addition, the Trustee shall be permitted to engage in transactions with the Issuer[s]; provided,
however, that if the Trustee acquires any conflicting interest, the Trustee must (i) eliminate such conflict within 90 days of acquiring such conflicting interest, (ii) apply to the Commission for permission to continue acting as
Trustee or (iii) resign. 
 16. No Recourse Against Others 

No director, officer, employee, incorporator or shareholder of the Issuer or any of its Subsidiaries or Affiliates, as such (other than the
Issuer[s] and the Guarantors), shall have any liability for any obligations of the Issuer[s] or the Guarantors under the Notes, the Guarantees or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their
creation. Each Holder by accepting a note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws
and it is the view of the SEC that such a waiver is against public policy. 

  
 A-8 

 17. Authentication 

This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent acting on its behalf) manually signs the
certificate of authentication on the other side of this Note. 
 18. 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
entirety), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= custodian) and U/G/M/A (= Uniform Gift to Minors Act). 

19. CUSIP and ISIN Numbers 
 The Issuer
has caused CUSIP and ISIN numbers, if applicable, to be printed on the Notes and has directed the Trustee to use CUSIP and ISIN numbers, if applicable, in notices of redemption or purchase as a convenience to Holders. No representation is made as to
the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption or purchase and reliance may be placed only on the other identification numbers placed thereon. 

20. Governing Law 
 This Note shall be
governed by, and construed in accordance with, the laws of the State of New York. 
 The Issuer will furnish to any Holder upon written
request and without charge to the Holder a copy of the Indenture. Requests may be made to: 
 [Double Eagle Acquisition Sub, Inc. 

c/o Advent International Corporation 

75 State Street 
 Boston, MA 02109

 Attention: President]6 

[inVentiv Group Holdings, Inc. 
 1
Van de Graaff Drive 
 Burlington, MA 01803 

Attention: General Counsel]7 

 

	6	To be used before the Escrow Release Date. 

	7	To be used on and after the Escrow Release Date. 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 

I or we assign and transfer this Note to: 
  

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

(Insert assignee’s social security or tax I.D. No.) 

and irrevocably appoint              agent to transfer this Note on the books of the
Issuer. The agent may substitute another to act for him. 
  

					
	Date:	  	Your Signature:	  	  

  

			
	Signature Guarantee:	  	  

		  	(Signature must be guaranteed)

  
  

Sign exactly as your name appears on the other side of this Note. 

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 
 The
undersigned hereby certifies that it  ☐ is /  ☐ is not an Affiliate of the Issuer and that, to its knowledge, the proposed transferee  ☐ is /  ☐ is not an Affiliate of the Issuer. 

In connection with any transfer or exchange of any of the Notes evidenced by this certificate occurring prior to the date that is one year
after the later of the date of original issuance of such Notes and the last date, if any, on which such Notes were owned by the Issuer or any Affiliate of the Issuer, the undersigned confirms that such Notes are being: 

CHECK ONE BOX BELOW: 
  

	 	(1) ☐	acquired for the undersigned’s own account, without transfer; or 

  

	 	(2) ☐	transferred to the Issuer; or 

  

	 	(3) ☐	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or 

 

	 	(4) ☐	transferred pursuant to an effective registration statement under the Securities Act; or 

  

	 	(5) ☐	transferred pursuant to and in compliance with Regulation S under the Securities Act; or 

  

	 	(6) ☐	transferred pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended. 

Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any person other than
the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Issuer may require, prior to registering any such transfer of the Notes, in its sole discretion, such legal opinions, certifications and
other information as the Issuer may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended, such as
the exemption provided by Rule 144 under such Act. 

  
 A-10 

			
		  	  

Signature

		
	 Signature Guarantee:
	  	
		
	  

(Signature must be guaranteed)
	  	  
 Signature

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 

TO BE COMPLETED BY PURCHASER IF BOX (1) OR (3) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises
sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended, and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon
the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

	
	                                      
      
	Dated:

  
 A-11 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTES 

The following increases or decreases in this Global Note have been made: 

 

									
	 Date of Exchange
	 	 Amount of decrease

in Principal Amount
 of this Global Note
	  	 Amount of increase

in Principal Amount
 of this Global Note
	  	 Principal Amount of

this Global Note
 following such

decrease or increase
	  	 Signature of

authorized signatory
 of Trustee or Notes

Custodian

		 		  		  		  	

  
 A-12 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you elect to have this Note purchased by the Issuer pursuant to Section 3.5 or 3.9 of the Indenture, check either box: 

Section 3.5  ☐             Section 3.9  ☐

 If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 3.5 or 3.9 of the Indenture, state
the amount in principal amount (must be in denominations of $2,000 or an integral multiple of $1,000 in excess thereof): $                     and
specify the denomination or denominations (which shall not be less than the minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being repurchased (in the absence of any such specification,
one such Note will be issued for the portion not being repurchased):                         . 

 

									
	Date:	  	  
	  	Your Signature	  	  
	  	
		  		  		  	(Sign exactly as your name appears on the other side of the Note)	  	

  

					
	Signature Guarantee:	  	  
	  	
		  	(Signature must be guaranteed)	  	

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-15. 

  
 A-13 

 EXHIBIT B 

Form of Supplemental Indenture to Add Guarantors 

[        ] SUPPLEMENTAL INDENTURE, (this “Supplemental Indenture”) dated as of
[        ], by and among the parties that are signatories hereto as Guarantors (the “Guaranteeing Subsidiary”), [inVentiv Group Holdings, Inc., inVentiv Health, Inc. and inVentiv Health
Clinical, Inc., as Issuers,] and Wilmington Trust, National Association, a national banking association, as Trustee under the Indenture referred to below. 

W I T N E S S E T H: 

WHEREAS, each of Double Eagle Acquisition Sub, Inc. and the Trustee have heretofore executed and delivered an indenture dated as of
October 14, 2016[, as supplemented by the First Supplemental Indenture dated as of [        ], among the Issuers, the Guarantors named therein and the Trustee] (as [further] amended, supplemented, waived
or otherwise modified, the “Indenture”), providing for the issuance of an aggregate principal amount of $675.0 million of 7.500% Senior Notes due 2024 of the Issuers (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee, on a joint and several basis with the other Guarantors, all of the Issuers’ Obligations under the Notes and the Indenture on the terms and
conditions set forth herein and under the Indentures’ (the “Guarantee”); and 
 WHEREAS, pursuant to
Section 9.1 of the Indenture, the Issuers, any Guarantor and the Trustee are authorized to execute and deliver a supplemental indenture to add additional Guarantors, without the consent of any Holder; 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the Guaranteeing Subsidiary, the Issuers, the other Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recitals
hereto are used herein as therein defined. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof. 
 ARTICLE II 

AGREEMENT TO BE BOUND; GUARANTEE 

Section 2.1. Agreement to be Bound. The Guaranteeing Subsidiary hereby becomes a party to the Indenture as a Guarantor and as such
will have all of the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. 
 Section 2.2.
Guarantee. The Guaranteeing Subsidiary agrees, on a joint and several basis with all the existing Guarantors, to fully, unconditionally and irrevocably Guarantee to each Holder of the Notes and the Trustee the Guaranteed Obligations pursuant
to Article X of the Indenture on a senior basis. 

  
 B-1 

 ARTICLE III 

MISCELLANEOUS 
 Section 3.1.
Notices. All notices and other communications to the Guarantor shall be given as provided in the Indenture to the Guarantor, at its address set forth below, with a copy to the Issuer as provided in the Indenture for notices to the Issuer.

 [INSERT ADDRESS] 

Section 3.2. Merger and Consolidation. The Guaranteeing Subsidiary shall not sell or otherwise dispose of all or substantially all
of its assets to, or consolidate with or merge with or into another Person (other than the Issuers or any Restricted Subsidiary that is a Guarantor or becomes a Guarantor concurrently with the transaction) except in accordance with
Section 4.1(g) of the Indenture. 
 Section 3.3. Release of Guarantee. This Guarantee shall be released in accordance with
Section 10.2 of the Indenture. 
 Section 3.4. Parties. Nothing expressed or mentioned herein is
intended or shall be construed to give any Person, firm or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein
or therein contained. 
 Section 3.5. Governing Law. This Supplemental Indenture shall be governed by, and construed in
accordance with, the laws of the State of New York. 
 Section 3.6. Severability. In case any provision in this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. 
 Section 3.7. Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee
is subject to the terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental
Indenture and that the guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits. 

Section 3.8. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the
Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of
Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
 Section 3.9. The Trustee. The Trustee makes
no representation or warranty as to the validity or sufficiency of this Supplemental Indenture or with respect to the recitals contained herein, all of which recitals are made solely by the other parties hereto. 

Section 3.10. Counterparts. The parties hereto may sign any number of copies of this Supplemental Indenture. Each signed copy
shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this
Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all
purposes. 
 Section 3.11. Execution and Delivery. The Guaranteeing Subsidiary agrees that the Guarantee shall remain in full
force and effect notwithstanding any failure to endorse on each Note a notation of any such Guarantee. 

  
 B-2 

 Section 3.12. Headings. The headings of the Articles and the Sections in this
Supplemental Indenture are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 

  
 B-3 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	 [SUBSIDIARY GUARANTOR],
 as a
Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	[INVENTIV GROUP HOLDINGS, INC.]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[INVENTIV HEALTH, INC.]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[INVENTIV HEALTH CLINICAL, INC.]
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Supplemental Indenture] 

 
			
	 WILMINGTON TRUST, NATIONAL

ASSOCIATION, as Trustee

 
			
		
	By:	 	  

		 	 Name:

		 	 Title:

  
 [Signature Page to
Supplemental Indenture] 

 EXHIBIT C 

Form of Special Mandatory Redemption Notice 

TO THE HOLDERS OF 
 7.500% SENIOR
NOTES DUE 2024 
 DOUBLE EAGLE ACQUISITION SUB, INC. 

(CUSIP No. 25858C AA1 / U25912 AA1) 

NOTICE IS HEREBY GIVEN that Double Eagle Acquisition Sub, Inc., a Delaware corporation (the “Issuer”), pursuant to the
Indenture, dated as of October 14, 2016 (the “Indenture”), among the Issuer and Wilmington Trust, National Association, as trustee (the “Trustee”), will redeem all of its outstanding 7.500% Senior Notes due
2024 (CUSIP No. 25858C AA1 / U25912 AA1) (the “Notes”) on [                    ],
20[        ] (the “Escrow Redemption Date”) pursuant to Section 5.9 of the Indenture. The redemption price for each Note will be $1,000 per $1,000 principal amount thereof,
plus accrued and unpaid interest thereon from October 14, 2016 to, but excluding, the Escrow Redemption Date (the “Escrow Redemption Price”). Capitalized terms used herein (but otherwise not defined) shall have such meanings as
set forth in the Indenture. 
 Unless the Issuer defaults in payment of the Escrow Redemption Price, interest on the Notes called for
redemption shall cease to accrue on and after the Escrow Redemption Date. 
 In order to receive the redemption payment, the Notes called
for redemption must be surrendered for payment at the following location of Wilmington Trust, National Association, the Trustee and Paying Agent. Notes to be redeemed must be surrendered for payment: (a) in book-entry form by transferring the
Notes to be redeemed to the Trustee’s account at The Depository Trust Company (“DTC”) in accordance with DTC’s procedures; or (b) by delivering the Notes to be redeemed to the Trustee at: 

Wilmington Trust, National Association 
 Global Capital Markets

 1100 North Market Street 
 Wilmington, Delaware 19890 

Attention: Work Flow Management - 5th Floor 
 The
method of delivery of the Notes is at the election and risk of the Holder. If delivered by mail, certified or registered mail, properly insured, is recommended. 

No representation is being made as to the correctness of the CUSIP numbers either as printed on the Notes or as contained in this notice.
Holders should rely only on the other identification numbers printed on the Notes. 
 IMPORTANT NOTICE 

For holders of Notes who have not established an exemption, payments made upon the redemption of the Notes may be subject to U.S. federal withholding of
28% of the payments to be made, as and to the extent required by the provisions of the U.S. Internal Revenue Code. To establish an exemption from such withholding, holders of Notes should submit a completed and signed Internal Revenue Service Form W-9 (or applicable Form W-8) when surrendering their Notes for payment. 
  

	Date:	[        ], 20[        ] 

  

	By:	DOUBLE EAGLE ACQUISITION SUB, INC. 

  
 C-1 

 EXHIBIT D 

[FORM OF FIRST SUPPLEMENTAL INDENTURE 

TO BE DELIVERED BY THE ISSUER, THE CO-ISSUERS AND THE GUARANTORS ON THE ESCROW 

RELEASE DATE] 
 First Supplemental
Indenture (this “First Supplemental Indenture”), dated as of [                    ], among inVentiv Group Holdings, Inc., a Delaware
corporation (the “Issuer”), inVentiv Health, Inc., a Delaware corporation, and inVentiv Health Clinical, Inc., a Delaware corporation, each a subsidiary of the Issuer (each, a
“Co-Issuer,” together, the “Co-Issuers,” and together with the Issuer, the “Issuers”), the parties that are
signatories hereto as Guarantors (each, a “Guaranteeing Subsidiary”) and Wilmington Trust, National Association, a national banking association, as trustee (the “Trustee”). 

W I T N E S S E T H 
 WHEREAS,
each of the Double Eagle Acquisition Sub, Inc. (the “Escrow Issuer”) and the Trustee have heretofore executed and delivered an indenture dated as of October 14, 2016 (as amended, supplemented, waived or otherwise modified, the
“Indenture”), providing for the issuance of an aggregate principal amount of $675.0 million of 7.500% Senior Notes due 2024 of the Issuer (the “Notes”); 

WHEREAS, the parties hereto desire to enter into this First Supplemental Indenture to evidence the assumption by the Issuers of all the
payment obligations under the Notes and the Indenture; 
 WHEREAS, the Indenture provides that upon the Escrow Release Date each of the
Issuers and each Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture and become parties to the Indenture and pursuant to which the Issuers shall assume all of the obligations of the Escrow Issuer under the Notes
and the Indenture, as applicable, and each Guaranteeing Subsidiary shall unconditionally guarantee, on a joint and several basis with the other Guaranteeing Subsidiaries, all of the Issuers’ Obligations under the Notes and the Indenture on the
terms and conditions set forth herein and under the Indenture (the “Guarantee”); 
 WHEREAS, pursuant to
Section 9.1 of the Indenture, the Trustee, the Issuers and the Guarantors are authorized to execute and deliver this First Supplemental Indenture without the consent of holders of the Notes; 

WHEREAS, each of the Issuers and the Guarantors has been duly authorized to enter into this First Supplemental Indenture; and 

WHEREAS, all acts, conditions, proceedings and requirements necessary to make this First Supplemental Indenture a valid, binding and legal
agreement enforceable in accordance with its terms for the purposes expressed herein, in accordance with its terms, have been duly done and performed. 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1. Defined Terms. As used in this First Supplemental Indenture, terms defined in the Indenture or in the preamble or
recitals hereto are used herein as therein defined. The words “herein,” “hereof” and “hereby” and other words of similar import used in this First Supplemental Indenture refer to this First Supplemental Indenture as a
whole and not to any particular section hereof. 

  
 D-1 

 ARTICLE II 

ASSUMPTION AND AGREEMENTS 

Section 2.1. Assumption of Obligations. Each Co-Issuer and the Issuer do hereby agree, as
of the date hereof, to assume, to be bound by and to be jointly and severally liable, each as a primary obligor and not as a guarantor or surety, with respect to, any and all payment obligations under the Indenture and the Notes on the terms and
subject to the conditions set forth in the Indenture and all other obligations of the Issuer or Co-Issuers, as applicable, under the Indenture. 

ARTICLE III 

AGREEMENT TO BE BOUND, GUARANTEE 

Section 3.1. Agreement to be Bound. Each Guaranteeing Subsidiary hereby becomes a party to the Indenture as a Guarantor and as
such will have all of the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. 

Section 3.2. Guarantee. Each Guaranteeing Subsidiary agrees, on a joint and several basis with all the other Guarantors, to fully,
unconditionally and irrevocably Guarantee to each Holder of the Notes and the Trustee the Guaranteed Obligations pursuant to Article X of the Indenture on a senior basis. This Guarantee shall be released in accordance with
Section 10.2 of the Indenture. 
 ARTICLE IV 

MISCELLANEOUS 

Section 4.1. Notices. All notices and other communications to the Issuers and the Guarantors shall be given as provided in the
Indenture to the Issuers and the Guarantors. 
 Section 4.2. Parties. Nothing expressed or mentioned herein is intended or shall
be construed to give any Person, firm or corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this First Supplemental Indenture or the Indenture or any provision herein or therein
contained. 
 Section 4.3. Severability. In case any provision in this First Supplemental Indenture shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability.

 Section 4.4. Execution and Delivery. (a) Each of the Issuers agrees that their assumption of all of the payment
obligations under the Notes and the Indenture shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such assumption of all of the payment obligations under the Notes and the Indenture on the Notes.

 (b) Each Guaranteeing Subsidiary agrees that the Guarantee shall remain in full force and effect notwithstanding any failure to endorse on
each Note a notation of any such Guarantee. 
 Section 4.5. No Recourse Against Others. No past, present or future director,
officer, employee, incorporator, member, partner or stockholder of the Issuer, any Co-Issuer or any Guarantor shall have any liability for any obligations of the Issuer, the
Co-Issuers or the Guarantors under the Notes, any Guarantees, the Indenture or this First Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation.
Each Holder by accepting Notes waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

Section 4.6. Governing Law. This First Supplemental Indenture shall be governed by, and construed in accordance with, the laws of
the State of New York. 
 Section 4.7. Counterparts. The parties may sign any number of copies of this First Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. This First Supplemental Indenture may be executed in multiple counterparts which, when taken together, shall constitute one

  
 D-2 

 
instrument. The exchange of copies of this First Supplemental Indenture and of signature pages by facsimile or PDF transmissions shall constitute effective execution and delivery of this First
Supplemental Indenture as to the parties hereto and may be used in lieu of the original First Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures
for all purposes. 
 Section 4.8. Headings. The headings of the Articles and the Sections in this First Supplemental Indenture
are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 

Section 4.9. The Trustee. The Trustee makes no representation or warranty as to the validity or sufficiency of this First
Supplemental Indenture or with respect to the recitals contained herein, all of which recitals are made solely by the other parties hereto. 

Section 4.10. Benefits Acknowledged. (a) The Issuers’ assumption of all of the payment obligations under the Notes and
the Indenture is subject to the terms and conditions set forth in the Indenture. The Issuers acknowledge that they will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this First Supplemental
Indenture and that their assumption of all of the payment obligations under the Notes and the Indenture and the waivers made by them pursuant to this First Supplemental Indenture are knowingly made in contemplation of such benefits. 

(b) Each Guaranteeing Subsidiary’s Guarantee is subject to the terms and conditions set forth in the Indenture. Each Guaranteeing
Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this First Supplemental Indenture and that the guarantee and waivers made by it pursuant to this Guarantee
are knowingly made in contemplation of such benefits. 
 Section 4.11. Successors. All agreements of the Issuers and the
Guarantors in this First Supplemental Indenture shall bind their Successors, except as otherwise provided in this First Supplemental Indenture. All agreements of the Trustee in this First Supplemental Indenture shall bind its successors. 

Section 4.12. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the
Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This First Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder
heretofore or hereafter authenticated and delivered shall be bound hereby. 

  
 D-3 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly
executed, all as of the date first above written. 
  

			
	 INVENTIV GROUP HOLDINGS, INC.,
 as
Issuer

		
	By:	 	  

		 	Name:
		 	Title:
	
	 INVENTIV HEALTH, INC.,
 as Co-Issuer,

		
	By:	 	  

		 	Name:
		 	Title:
	
	 INVENTIV HEALTH CLINICAL, INC.,
 as Co-Issuer

		
	By:	 	  

		 	Name:
		 	Title:

  

			
	 [SUBSIDIARY GUARANTOR],

as a Guarantor

		
	By:	 	  

		 	 Name:

		 	 Title:

  
 [Signature Page to
Supplemental Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Supplemental Indenture]Exhibit

Exhibit 4.4

GLOBAL WATER RESOURCES, INC.
    
INDENTURE
Dated as of __________________, 20___
    
[_________________________]
Trustee

TABLE OF CONTENTS
Page

	
				
	ARTICLE I.
	DEFINITIONS AND INCORPORATION BY REFERENCE
	1
	

	Section 1.1.
	Definitions.
	1
	

	Section 1.2.
	Other Definitions
	5
	

	Section 1.3.
	Incorporation by Reference of Trust Indenture Act.
	5
	

	Section 1.4.
	Rules of Construction.
	6
	

	ARTICLE II.
	THE SECURITIES
	6
	

	Section 2.1.
	Issuable in Series.
	6
	

	Section 2.2.
	Establishment of Terms of Series of Securities.
	6
	

	Section 2.3.
	Execution and Authentication.
	9
	

	Section 2.4.
	Registrar and Paying Agent.
	10
	

	Section 2.5.
	Paying Agent to Hold Money in Trust.
	11
	

	Section 2.6.
	Securityholder Lists.
	11
	

	Section 2.7.
	Transfer and Exchange.
	11
	

	Section 2.8.
	Mutilated, Destroyed, Lost and Stolen Securities.
	12
	

	Section 2.9.
	Outstanding Securities.
	13
	

	Section 2.10.
	Treasury Securities.
	13
	

	Section 2.11.
	Temporary Securities.
	13
	

	Section 2.12.
	Cancellation.
	14
	

	Section 2.13.
	Defaulted Interest.
	14
	

	Section 2.14.
	Global Securities.
	14
	

	Section 2.15.
	CUSIP Numbers.
	16
	

	ARTICLE III.
	REDEMPTION
	16
	

	Section 3.1.
	Notice to Trustee.
	16
	

	Section 3.2.
	Selection of Securities to be Redeemed.
	17
	

	Section 3.3.
	Notice of Redemption.
	17
	

	Section 3.4.
	Effect of Notice of Redemption.
	18
	

	Section 3.5.
	Deposit of Redemption Price.
	18
	

	Section 3.6.
	Securities Redeemed in Part.
	18
	

	ARTICLE IV.
	COVENANTS
	19
	

	Section 4.1.
	Payment of Principal and Interest.
	19
	

	Section 4.2.
	SEC Reports.
	19
	

	Section 4.3.
	Compliance Certificate.
	19
	

	Section 4.4.
	Stay, Extension and Usury Laws.
	20
	

	ARTICLE V.
	SUCCESSORS
	20
	

	Section 5.1.
	When Company May Merge, Etc.
	20
	

	Section 5.2.
	Successor Corporation Substituted.
	20
	

	ARTICLE VI.
	DEFAULTS AND REMEDIES
	21
	

	Section 6.1.
	Events of Default.
	21
	

	Section 6.2.
	Acceleration of Maturity; Rescission and Annulment.
	22
	

	Section 6.3.
	Collection of Indebtedness and Suits for Enforcement by Trustee.
	23
	

	Section 6.4.
	Trustee May File Proofs of Claim.
	24
	

	Section 6.5.
	Trustee May Enforce Claims Without Possession of Securities.
	24
	

	Section 6.6.
	Application of Money Collected.
	25
	

	Section 6.7.
	Limitation on Suits.
	25
	

	Section 6.8.
	Unconditional Right of Holders to Receive Principal and Interest.
	26
	

	Section 6.9.
	Restoration of Rights and Remedies.
	26
	

	
			
	 
	-i-
	 

TABLE OF CONTENTS
(continued)
Page

Page

	
				
	Section 6.10.
	Rights and Remedies Cumulative.
	26
	

	Section 6.11.
	Delay or Omission Not Waiver.
	26
	

	Section 6.12.
	Control by Holders.
	27
	

	Section 6.13.
	Waiver of Past Defaults.
	27
	

	Section 6.14.
	Undertaking for Costs.
	27
	

	ARTICLE VII.
	TRUSTEE
	28
	

	Section 7.1.
	Duties of Trustee.
	28
	

	Section 7.2.
	Rights of Trustee.
	29
	

	Section 7.3.
	Individual Rights of Trustee.
	31
	

	Section 7.4.
	Trustee’s Disclaimer.
	31
	

	Section 7.5.
	Notice of Defaults.
	31
	

	Section 7.6.
	Reports by Trustee to Holders.
	31
	

	Section 7.7.
	Compensation and Indemnity.
	31
	

	Section 7.8.
	Replacement of Trustee.
	32
	

	Section 7.9.
	Successor Trustee by Merger, Etc.
	33
	

	Section 7.10.
	Eligibility; Disqualification.
	33
	

	Section 7.11.
	Preferential Collection of Claims Against Company.
	34
	

	ARTICLE VIII.
	SATISFACTION AND DISCHARGE; DEFEASANCE
	34
	

	Section 8.1.
	Satisfaction and Discharge of Indenture.
	34
	

	Section 8.2.
	Application of Trust Funds; Indemnification.
	35
	

	Section 8.3.
	Legal Defeasance of Securities of any Series.
	36
	

	Section 8.4.
	Covenant Defeasance.
	37
	

	Section 8.5.
	Repayment to Company.
	39
	

	Section 8.6.
	Reinstatement.
	39
	

	ARTICLE IX.
	AMENDMENTS AND WAIVERS
	39
	

	Section 9.1.
	Without Consent of Holders.
	39
	

	Section 9.2.
	With Consent of Holders.
	40
	

	Section 9.3.
	Limitations.
	41
	

	Section 9.4.
	Compliance with Trust Indenture Act.
	41
	

	Section 9.5.
	Revocation and Effect of Consents.
	42
	

	Section 9.6.
	Notation on or Exchange of Securities.
	42
	

	Section 9.7.
	Trustee Protected.
	42
	

	ARTICLE X.
	MISCELLANEOUS
	43
	

	Section 10.1.
	Trust Indenture Act Controls.
	43
	

	Section 10.2.
	Notices.
	43
	

	Section 10.3.
	Communication by Holders with Other Holders.
	44
	

	Section 10.4.
	Certificate and Opinion as to Conditions Precedent.
	44
	

	Section 10.5.
	Statements Required in Certificate or Opinion.
	44
	

	Section 10.6.
	Rules by Trustee and Agents.
	45
	

	Section 10.7.
	Legal Holidays.
	45
	

	Section 10.8.
	No Recourse Against Others.
	45
	

	Section 10.9.
	Counterparts.
	45
	

	Section 10.10.
	Governing Law; Waiver of Jury Trial; Consent to Jurisdiction.
	45
	

	Section 10.11.
	No Adverse Interpretation of Other Agreements.
	46
	

	Section 10.12.
	Successors.
	46
	

	Section 10.13.
	Severability.
	46
	

	
			
	 
	ii
	 

TABLE OF CONTENTS
(continued)
Page

Page

	
				
	Section 10.14.
	Table of Contents, Headings, Etc.
	46
	

	Section 10.15.
	Securities in a Foreign Currency.
	46
	

	Section 10.16.
	Judgment Currency.
	47
	

	Section 10.17.
	Force Majeure.
	48
	

	Section 10.18.
	U.S.A. Patriot Act.
	48
	

	ARTICLE XI.
	SINKING FUNDS
	48
	

	Section 11.1.
	Applicability of Article.
	48
	

	Section 11.2.
	Satisfaction of Sinking Fund Payments with Securities.
	49
	

	Section 11.3.
	Redemption of Securities for Sinking Fund.
	49
	

	
			
	 
	iii
	 

GLOBAL WATER RESOURCES, INC.
Reconciliation and tie between Trust Indenture Act of 1939 and
Indenture, dated as of ___________________, 20___ 	
			
	§ 310(a)(1)   
	7.10

	(a)(2)   
	7.10

	(a)(3)   
	Not Applicable

	(a)(4)   
	Not Applicable

	(a)(5)   
	7.10

	(b)      
	7.10

	§ 311(a)   
	7.11

	(b)   
	7.11

	(c)   
	Not Applicable

	§ 312(a)   
	2.6

	(b)   
	10.3

	(c)   
	10.3

	§ 313(a)   
	7.6

	(b)(1)   
	7.6

	(b)(2)   
	7.6

	(c)(1)   
	7.6

	(d)   
	7.6

	§ 314(a)   
	4.2, 10.5

	(b)   
	Not Applicable

	(c)(1)   
	10.4

	(c)(2)   
	10.4

	(c)(3)   
	Not Applicable

	(d)   
	Not Applicable

	(e)   
	10.5

	(f)   
	Not Applicable

	§ 315(a)   
	7.1

	(b)   
	7.5

	(c)   
	7.1

	(d)   
	7.1

	(e)   
	6.14

	§ 316(a)   
	2.10

	(a)(1)(A)   
	6.12

	(a)(1)(B)   
	6.13

	(b)   
	6.8

	§ 317(a)(1)   
	6.3

	(a)(2)   
	6.4

	(b)   
	2.5

	§ 318(a)   
	10.1

Note: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture.

	
			
	 
	iv
	 

Indenture dated as of ___________________, 20___ between Global Water Resources, Inc., a company incorporated under the laws of Delaware (“Company”), and [_________________] (“Trustee”).
Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture.
ARTICLE I. 
DEFINITIONS AND INCORPORATION BY REFERENCE
Section 1.1.      Definitions.
“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.
“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or otherwise.
“Agent” means any Registrar, Paying Agent or Notice Agent.
“Board of Directors” means the board of directors of the Company or any duly authorized committee thereof.
“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee.
“Business Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York, New York (or in connection with any payment, the place of payment) on which banking institutions are authorized or required by law, regulation or executive order to close.
“Capital Stock” means any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock.
“Company” means the party named as such above until a successor replaces it and thereafter means the successor.

	
			
	 
	1
	 

“Company Order” means a written order signed in the name of the Company by an Officer.
“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business related to this Indenture shall be principally administered.
“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.
“Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series.
“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2.
“Dollars” and “$” means the currency of The United States of America.
“Exchange Act” means the Securities Exchange Act of 1934, as amended.
“Foreign Currency” means any currency or currency unit issued by a government other than the government of The United States of America.
“Foreign Government Obligations” means, with respect to Securities of any Series that are denominated in a Foreign Currency, direct obligations of, or obligations guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof.
“GAAP” means accounting principles generally accepted in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination.
“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee.

	
			
	 
	2
	 

“Holder” or “Securityholder” means a person in whose name a Security is registered.
“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder.
“Interest” with respect to any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.
“Maturity,” when used with respect to any Security, means the date on which the principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise.
“Officer” means the Chief Executive Officer, President, the Chief Financial Officer, the Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary, and any Vice President of the Company.
“Officer’s Certificate” means a certificate signed by any Officer.
“Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company. The opinion may contain customary limitations, conditions and exceptions.
“Person” means any individual, corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
“Principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security.
“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office having responsibility for administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject.
“SEC” means the Securities and Exchange Commission.
“Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this Indenture.
“Series” or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

	
			
	 
	3
	 

“Stated Maturity” when used with respect to any Security, means the date specified in such Security as the fixed date on which the principal of such Security or interest is due and payable.
“Subsidiary” of any specified person means any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or a combination thereof.
“TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust Indenture Act as so amended.
“Trustee” means the person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series.
“U.S. Government Obligations” means securities which are direct obligations of, or guaranteed by, The United States of America for the payment of which its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such depositary receipt.

	
			
	 
	4
	 

Section 1.2.      Other Definitions
	
		
	Term
	Defined In 
Section

	“Bankruptcy Law”   
	6.1

	“Custodian”   
	6.1

	“Event of Default”   
	6.1

	“Judgment Currency”   
	10.16

	“Legal Holiday”   
	10.7

	“mandatory sinking fund payment”   
	11.1

	“New York Banking Day”   
	10.16

	“Notice Agent”   
	2.4

	“optional sinking fund payment”   
	11.1

	“Paying Agent”   
	2.4

	“Registrar”   
	2.4

	“Required Currency”   
	10.16

	“Specified Courts”   
	10.10

	“successor person”   
	5.1

Section 1.3.      Incorporation by Reference of Trust Indenture Act.
Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.  The following TIA terms used in this Indenture have the following meanings:
“Commission” means the SEC.
“Indenture securities” means the Securities.
“Indenture security holder” means a Securityholder.
“Indenture to be qualified” means this Indenture.
“Indenture trustee” or “institutional trustee” means the Trustee.
“Obligor” on the indenture securities means the Company and any successor obligor upon the Securities.
All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA and not otherwise defined herein are used herein as so defined.

	
			
	 
	5
	 

Section 1.4.      Rules of Construction.
Unless the context otherwise requires:
		
	(a)
	a term has the meaning assigned to it;

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

		
	(c)
	“or” is not exclusive;

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

		
	(e)
	provisions apply to successive events and transactions.

ARTICLE II.     
THE SECURITIES
Section 2.1.      Issuable in Series.
The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series.  All Securities of a Series shall be identical except as may be set forth or determined in the manner provided in a Board Resolution, a supplemental indenture or an Officer’s Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution.  In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined.  Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.
Section 2.2.      Establishment of Terms of Series of Securities.
At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.23) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture hereto or Officer’s Certificate:
		
	2.2.1.
	the title (which shall distinguish the Securities of that particular Series from the Securities of any other Series) and ranking (including the terms of any subordination provisions) of the Series;

	
			
	 
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	2.2.2.
	the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued;

		
	2.2.3.
	any limit upon the aggregate principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

		
	2.2.4.
	the date or dates on which the principal of the Securities of the Series is payable;

		
	2.2.5.
	the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date;

		
	2.2.6.
	the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be delivered, and the method of such payment, if by wire transfer, mail or other means;

		
	2.2.7.
	if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Company;

		
	2.2.8.
	the obligation, if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

		
	2.2.9.
	the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

		
	2.2.10.
	if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable;

		
	2.2.11.
	the forms of the Securities of the Series and whether the Securities will be issuable as Global Securities;

	
			
	 
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	2.2.12.
	if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2;

		
	2.2.13.
	the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency;

		
	2.2.14.
	the designation of the currency, currencies or currency units in which payment of the principal of and interest, if any, on the Securities of the Series will be made;

		
	2.2.15.
	if payments of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;

		
	2.2.16.
	the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index;

		
	2.2.17.
	the provisions, if any, relating to any security provided for the Securities of the Series;

		
	2.2.18.
	any addition to, deletion of or change in the Events of Default which applies to any Securities of the Series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2;

		
	2.2.19.
	any addition to, deletion of or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

		
	2.2.20.
	any Depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those appointed herein;

		
	2.2.21.
	the provisions, if any, relating to conversion or exchange of any Securities of such Series, including if applicable, the conversion or exchange price, the conversion or exchange period, provisions as to whether conversion or exchange will be mandatory, at the option of the Holders thereof or at the option of the Company, the events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series of Securities are redeemed;

		
	2.2.22.
	any other terms of the Series (which may supplement, modify or delete any provision of this Indenture insofar as it applies to such Series), including any terms that may be required 

	
			
	 
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under applicable law or regulations or advisable in connection with the marketing of Securities of that Series; and
		
	2.2.23.
	whether any of the Company’s direct or indirect Subsidiaries will guarantee the Securities of that Series, including the terms of subordination, if any, of such guarantees.

All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate referred to above.
Section 2.3.      Execution and Authentication.
An Officer shall sign the Securities for the Company by manual or facsimile signature.
If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid.
A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.
The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officer’s Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication.
The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8.
Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4.
The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents or a committee of Responsible Officers shall 

	
			
	 
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determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities.
The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company.
Section 2.4.      Registrar and Paying Agent.
The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be delivered (“Notice Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or Notice Agent. If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Notice Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands; provided, however, that any appointment of the Trustee as the Notice Agent shall exclude the appointment of the Trustee or any office of the Trustee as an agent to receive the service of legal process on the Company.
The Company may also from time to time designate one or more co-registrars, additional paying agents or additional notice agents and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar, Paying Agent and Notice Agent in each place so specified pursuant to Section 2.2 for Securities of any Series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional notice agent. The term “Registrar” includes any co-registrar; the term
“Paying Agent” includes any additional paying agent; and the term “Notice Agent” includes any additional notice agent. The Company or any of its Affiliates may serve as Registrar or Paying Agent.

	
			
	 
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The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Notice Agent for each Series unless another Registrar, Paying Agent or Notice Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued.
Section 2.5.      Paying Agent to Hold Money in Trust.
The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee in writing of any default by the Company in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Securities.
Section 2.6.      Securityholder Lists.
The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten days before each interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities.
Section 2.7.      Transfer and Exchange.
Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

	
			
	 
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Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of
business fifteen days immediately preceding the sending of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day such notice is sent, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part.
Section 2.8.      Mutilated, Destroyed, Lost and Stolen Securities.
If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.
If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity bond as may be required by each of them to hold itself and any of its agents harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon receipt of a Company Order the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.
In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security.
Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.
Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder.
The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

	
			
	 
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Section 2.9.      Outstanding Securities.
The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding.
If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.
If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue.
The Company may purchase or otherwise acquire the Securities, whether by open market purchases, negotiated transactions or otherwise. A Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security (but see Section 2.10 below).
In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.
Section 2.10.      Treasury Securities.
In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded.
Section 2.11.      Temporary Securities.
Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon receipt of a Company Order shall authenticate definitive Securities of the same 

	
			
	 
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Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities.
Section 2.12.      Cancellation.
The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities (subject to the record retention requirement of the Exchange Act and the Trustee) and deliver a certificate of such cancellation to the Company upon written request of the Company. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.
Section 2.13.      Defaulted Interest.
If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least 10 days before the special record date, the Company shall send to the Trustee and to each Securityholder of the Series a notice that states the special record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any other lawful manner.
Section 2.14.      Global Securities.
		
	2.14.1.
	Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officer’s Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities.

		
	2.14.2.
	Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event or (ii) the Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such Global Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be 

	
			
	 
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exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms.
Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary.
		
	2.14.3.
	Legends. Any Global Security issued hereunder shall bear a legend in substantially the following form:

“THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.”
In addition, so long as the Depository Trust Company (“DTC”) is the Depositary, each Global Note registered in the name of DTC or its nominee shall bear a legend in substantially the following form:
“UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY GLOBAL NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR 

	
			
	 
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OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.”
		
	2.14.4.
	Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

		
	2.14.5.
	Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof.

		
	2.14.6.
	Consents, Declaration and Directions. The Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture.

Section 2.15.      CUSIP Numbers.
The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.
 ARTICLE III.     
REDEMPTION
Section 3.1.      Notice to Trustee.
The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Securities to be redeemed. The Company shall give the notice at least 15 days before the redemption date, unless a shorter period is satisfactory to the Trustee.

	
			
	 
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Section 3.2.      Selection of Securities to be Redeemed.
Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, if less than all the Securities of a Series are to be redeemed, the Securities of the Series to be redeemed will be selected as follows: (a) if the Securities are in the form of Global Securities, in accordance with the procedures of the Depositary, (b) if the Securities are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange, if any, on which the Securities are listed, or (c) if not otherwise provided for under clause (a) or (b) in the manner that the Trustee deems fair and appropriate, including by lot or other method, unless otherwise required by law or applicable stock exchange requirements, subject, in the case of Global Securities, to the applicable rules and procedures of the Depositary. The Securities to be redeemed shall be selected from Securities of the Series outstanding not previously called for redemption. Portions of the principal of Securities of the Series that have denominations larger than $1,000 may be selected for redemption. Securities of the Series and portions of them it selected for redemption shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and the authorized integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series called for redemption.
Section 3.3.      Notice of Redemption.
Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60 days before a redemption date, the Company shall send or cause to be sent by first-class mail or electronically, in accordance with the procedures of the Depositary, a notice of redemption to each Holder whose Securities are to be redeemed.
The notice shall identify the Securities of the Series to be redeemed and shall state:
		
	(a)
	the redemption date;

		
	(b)
	the redemption price;

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

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

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

		
	(f)
	that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date unless the Company defaults in the deposit of the redemption price;

		
	(g)
	the CUSIP number, if any; and

		
	(h)
	any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense, provided, however, that the Company has delivered to the Trustee, at least 10 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an Officer’s Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice.
Section 3.4.      Effect of Notice of Redemption.
Once notice of redemption is sent as provided in Section 3.3, Securities of a Series called for redemption become due and payable on the redemption date and at the redemption price. Except as otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series, a notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date.
Section 3.5.      Deposit of Redemption Price.
On or before 11:00 a.m., New York City time, on the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date.
Section 3.6.      Securities Redeemed in Part.
Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

	
			
	 
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ARTICLE IV.     
COVENANTS
Section 4.1.      Payment of Principal and Interest.
The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on the applicable payment date, the Company shall deposit with the Paying Agent money sufficient to pay the principal of and interest, if any, on the Securities of each Series in accordance with the terms of such Securities and this Indenture.
Section 4.2.      SEC Reports.
To the extent any Securities of a Series are outstanding, the Company shall deliver to the Trustee within 15 days after it files them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of TIA § 314(a). Reports, information and documents filed with the SEC via the EDGAR system will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2.
Delivery of reports, information and documents to the Trustee under this Section 4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute constructive or actual notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates).
Section 4.3.      Compliance Certificate.
To the extent any Securities of a Series are outstanding, the Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officer’s Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his/her knowledge the Company 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 hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge).

	
			
	 
	19
	 

Section 4.4.      Stay, Extension and Usury Laws.
The Company 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, which may affect the covenants or the performance of this Indenture or the Securities; and the Company (to the extent 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.
ARTICLE V.     
SUCCESSORS
Section 5.1.      When Company May Merge, Etc.
The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”) unless:
		
	(a)
	the Company is the surviving corporation or the successor person (if other than the Company) is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and

		
	(b)
	immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be continuing.

The Company shall deliver to the Trustee prior to the consummation of the proposed transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture.
Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or transfer all or part of its properties to the Company. Neither an Officer’s Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith.
Section 5.2.      Successor Corporation Substituted.
Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect 

	
			
	 
	20
	 

as if such successor person has been named as the Company herein; provided, however, that the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities.

ARTICLE VI. 
DEFAULTS AND REMEDIES
Section 6.1.      Events of Default.
“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of said Event of Default:
		
	(a)
	default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to 11:00 a.m., New York City time, on the 30th day of such period); or

		
	(b)
	default in the payment of principal of any Security of that Series at its Maturity; or

		
	(c)
	default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than defaults pursuant to paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues uncured for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding Securities of that Series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or

		
	(d)
	the Company pursuant to or within the meaning of any Bankruptcy Law:

		
	(i)
	commences a voluntary case,

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

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

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

		
	(v)
	generally is unable to pay its debts as the same become due; or

	
			
	 
	21
	 

		
	(e)
	a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

		
	(i)
	is for relief against the Company in an involuntary case,

		
	(ii)
	appoints a Custodian of the Company or for all or substantially all of its property, or

		
	(iii)
	orders the liquidation of the Company,

and the order or decree remains unstayed and in effect for 60 days; or
		
	(f)
	any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, in accordance with Section 2.2.18.

The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.
The Company will provide the Trustee written notice of any Default or Event of Default within 30 days of becoming aware of the occurrence of such Default or Event of Default, which notice will describe in reasonable detail the status of such Default or Event of Default and what action the Company is taking or proposes to take in respect thereof.
Section 6.2.      Acceleration of Maturity; Rescission and Annulment.
If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d) or (e)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.
At any time after such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as 

	
			
	 
	22
	 

hereinafter in this Article provided, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13.
No such rescission shall affect any subsequent Default or impair any right consequent thereon.
Section 6.3.      Collection of Indebtedness and Suits for Enforcement by Trustee.
The Company covenants that if:
		
	(a)
	default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or

		
	(b)
	default is made in the payment of principal of any Security at the Maturity thereof, or

		
	(c)
	default is made in the deposit of any sinking fund payment, if any, when and as due by the terms of a Security,

then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any overdue interest at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel.
If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated.
If an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant 

	
			
	 
	23
	 

or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.
Section 6.4.      Trustee May File Proofs of Claim.
In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise,
		
	(a)
	to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and

		
	(b)
	to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same,

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the compensation, reasonable expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7.
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 Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.
Section 6.5.      Trustee May Enforce Claims Without Possession of Securities.
All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the compensation, reasonable expenses, disbursements and advances of the Trustee, 

	
			
	 
	24
	 

its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.
Section 6.6.      Application of Money Collected.
Any money or property collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money or property on account of principal or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:
First: To the payment of all amounts due the Trustee under Section 7.7; and
Second: To the payment of the amounts then due and unpaid for principal of and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest, respectively; and
Third: To the Company.
Section 6.7.      Limitation on Suits.
No Holder of any Security of any Series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless
		
	(a)
	such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that Series;

		
	(b)
	the Holders of not less than 25% in principal amount of the outstanding Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

		
	(c)
	such Holder or Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by the Trustee in compliance with such request;

		
	(d)
	the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

		
	(e)
	no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the outstanding Securities of that Series;

	
			
	 
	25
	 

it being understood, intended and expressly covenanted by the Holder of every Security with every other Holder and the Trustee that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders of the applicable Series.
Section 6.8.      Unconditional Right of Holders to Receive Principal and Interest.
Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.
Section 6.9.      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 adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, 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 6.10.      Rights and Remedies Cumulative.
Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.
Section 6.11.      Delay or Omission Not Waiver.
No delay or omission of the Trustee or of any Holder of any Securities 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 

	
			
	 
	26
	 

this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.
Section 6.12.      Control by Holders.
The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that
		
	(a)
	such direction shall not be in conflict with any rule of law or with this Indenture,

		
	(b)
	the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction,

		
	(c)
	subject to the provisions of Section 7.1, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and

		
	(d)
	prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

Section 6.13.      Waiver of Past Defaults.
The Holders of not less than a majority in principal amount of the outstanding Securities of any Series may on behalf of the Holders of all the Securities of such Series, by written notice to the Trustee and the Company, waive any past Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series 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 6.14.      Undertaking for Costs.
All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking 

	
			
	 
	27
	 

to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the case of redemption, on the redemption date).
ARTICLE VII.    
TRUSTEE
Section 7.1.      Duties of Trustee.
		
	(a)
	If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

		
	(b)
	Except during the continuance of an Event of Default:

		
	(i)
	The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

		
	(ii)
	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 Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officer’s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or not they conform to the form requirements of this Indenture.

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

		
	(i)
	This paragraph does not limit the effect of paragraph (b) of this Section.

	
			
	 
	28
	 

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

		
	(iii)
	The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series in accordance with Section 6.12.

		
	(d)
	Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

		
	(e)
	The Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power.

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

		
	(g)
	No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if adequate indemnity against such risk is not assured to the Trustee in its satisfaction.

		
	(h)
	The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections and immunities as are set forth in paragraphs (e), (f) and (g) of this Section and in Section 7.2, each with respect to the Trustee.

Section 7.2.      Rights of Trustee.
		
	(a)
	The Trustee may rely on and shall be protected in acting or refraining from acting upon any document (whether in its original 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 shall not be liable for any action it 

	
			
	 
	29
	 

takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel.
		
	(c)
	The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary.

		
	(d)
	The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute willful misconduct or negligence.

		
	(e)
	The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without willful misconduct or negligence, and in reliance thereon.

		
	(f)
	The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

		
	(g)
	The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, 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.

		
	(h)
	The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this Indenture.

		
	(i)
	In no event shall the Trustee be liable to any person for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage.

		
	(j)
	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.

	
			
	 
	30
	 

Section 7.3.      Individual Rights of Trustee.
The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11.
Section 7.4.      Trustee’s Disclaimer.
The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its authentication.
Section 7.5.      Notice of Defaults.
If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall send to each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series.
Section 7.6.      Reports by Trustee to Holders.
Within 60 days after each [_____________] commencing [____________________], [_____], the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief report dated as of such anniversary date, in accordance with, and to the extent required under, TIA § 313.
A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each national securities exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee in writing when Securities of any Series are listed on any national securities exchange.
Section 7.7.      Compensation and Indemnity.
The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse 

	
			
	 
	31
	 

the Trustee upon request for all reasonable out of pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel.
The Company shall indemnify each of the Trustee and any predecessor Trustee (including for the cost of defending itself) against any cost, expense or liability, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder, unless and to the extent that the Company is materially prejudiced thereby. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee.
The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through willful misconduct or negligence.
To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series.
When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law.
The provisions of this Section shall survive the termination of this Indenture.
Section 7.8.      Replacement of Trustee.
A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.
The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if:
		
	(a)
	the Trustee fails to comply with Section 7.10;

	
			
	 
	32
	 

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

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

		
	(d)
	the Trustee becomes incapable of acting.

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.
If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee.
A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement.
Section 7.9.      Successor Trustee by Merger, Etc.
If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee, subject to Section 7.10.
Section 7.10.      Eligibility; Disqualification.
This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b).

	
			
	 
	33
	 

Section 7.11.      Preferential Collection of Claims Against Company.
The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.
ARTICLE VIII. 
SATISFACTION AND DISCHARGE; DEFEASANCE
Section 8.1.      Satisfaction and Discharge of Indenture.
This Indenture shall upon Company Order be discharged with respect to the Securities of any Series and cease to be of further effect as to all Securities of such Series (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute instruments acknowledging satisfaction and discharge of this Indenture, when
		
	(a)
	either

		
	(i)
	all Securities of such Series theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for cancellation; or

		
	(ii)
	all such Securities of such Series not theretofore delivered to the Trustee for cancellation

		
	(1)
	have become due and payable by reason of sending a notice of redemption or otherwise, or

		
	(2)
	will become due and payable at their Stated Maturity within one year, or

		
	(3)
	have been called for redemption or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, or

		
	(4)
	are deemed paid and discharged pursuant to Section 8.3, as applicable;

and the Company, in the case of (1), (2) or (3) above, shall have irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount of money or U.S. Government Obligations, which amount shall be sufficient for the purpose of paying and discharging each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series on the dates such installments of principal or interest are due;

	
			
	 
	34
	 

		
	(b)
	the Company has paid or caused to be paid all other sums payable hereunder by the Company; and

		
	(c)
	the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the satisfaction and discharge contemplated by this Section have been complied with.

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive.
Section 8.2.      Application of Trust Funds; Indemnification.
		
	(a)
	Subject to the provisions of Section 8.5, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.1, 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.1, 8.3 or 8.4.

		
	(b)
	The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to Sections 8.1, 8.3 or 8.4 or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders.

		
	(c)
	The Trustee shall deliver or pay to the Company from time to time upon Company Order any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received. This provision shall not authorize 

	
			
	 
	35
	 

the sale by the Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture.
Section 8.3.      Legal Defeasance of Securities of any Series.
Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2, to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, upon receipt of a Company Order, execute instruments acknowledging the same), except as to:
		
	(a)
	the rights of Holders of Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Maturity of such principal or installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities of such Series;

		
	(b)
	the provisions of Sections 2.4, 2.5, 2.7, 2.8, 7.7, 8.2, 8.3, 8.5 and 8.6; and

		
	(c)
	the rights, powers, trusts and immunities of the Trustee hereunder and the Company’s obligations in connection therewith;

provided that, the following conditions shall have been satisfied:
		
	(d)
	the Company shall have irrevocably deposited or caused to be deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, on and any mandatory sinking fund payments in respect of all the Securities of such 

	
			
	 
	36
	 

Series on the dates such installments of principal or interest and such sinking fund payments are due;
		
	(e)
	such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound;

		
	(f)
	no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such date;

		
	(g)
	the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred;

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

		
	(i)
	the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with.

Section 8.4.      Covenant Defeasance.
Unless this Section 8.4 is otherwise specified pursuant to Section 2.2 to be inapplicable to Securities of any Series, the Company may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4 and 5.1 and, unless otherwise specified therein, any additional covenants specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series under Section 6.1) and the occurrence of any event specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2 and designated as an Event of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series, but, except as specified 

	
			
	 
	37
	 

above, the remainder of this Indenture and such Securities will be unaffected thereby; provided that the following conditions shall have been satisfied:
		
	(a)
	with reference to this Section 8.4, the Company has irrevocably deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal (including mandatory sinking fund or analogous payments) of and interest on all the Securities of such Series on the dates such installments of principal or interest are due;

		
	(b)
	such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound;

		
	(c)
	no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit;

		
	(d)
	the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel to the effect that (i) the company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm, subject to customary exclusions, that the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, covenant defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, covenant defeasance and discharge had not occurred;

	
			
	 
	38
	 

		
	(e)
	The Company shall have delivered to the Trustee an Officer’s Certificate stating the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and

		
	(f)
	The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with.

Section 8.5.      Repayment to Company.
Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal and interest that remains unclaimed for two years. After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person.
Section 8.6.      Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with Section 8.1 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 obligations of the Company under this Indenture with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.1; provided, however, that if the Company has made any payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent after payment in full to the Holders.
ARTICLE IX. 
AMENDMENTS AND WAIVERS
Section 9.1.      Without Consent of Holders.
The Company and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any Securityholder:
		
	(a)
	to cure any ambiguity, defect or inconsistency;

		
	(b)
	to comply with Article V;

	
			
	 
	39
	 

		
	(c)
	to provide for uncertificated Securities in addition to or in place of certificated Securities;

		
	(d)
	to add guarantees with respect to Securities of any Series or secure Securities of any Series;

		
	(e)
	to surrender any of the Company’s rights or powers under this Indenture;

		
	(f)
	to add covenants or events of default for the benefit of the holders of Securities of any Series;

		
	(g)
	to comply with the applicable procedures of the applicable depositary;

		
	(h)
	to make any change that does not adversely affect the rights of any Securityholder;

		
	(i)
	to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture;

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

		
	(k)
	to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA.

Section 9.2.      With Consent of Holders.
The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series. Except as provided in Section 6.13, the Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series.
It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this 

	
			
	 
	40
	 

section becomes effective, the Company shall send to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to send such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.
Section 9.3.      Limitations.
Without the consent of each Securityholder affected, an amendment or waiver may not:
		
	(a)
	reduce the principal amount of Securities whose Holders must consent to an amendment, supplement or waiver;

		
	(b)
	reduce the rate of or extend the time for payment of interest (including default interest) on any Security;

		
	(c)
	reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation;

		
	(d)
	reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof;

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

		
	(f)
	make the principal of or interest, if any, on any Security payable in any currency other than that stated in the Security;

		
	(g)
	make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or

		
	(h)
	waive a redemption payment with respect to any Security, provided that such redemption is made at the Company’s option.

Section 9.4.      Compliance with Trust Indenture Act.
Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect.
Section 9.5.      Revocation and Effect of Consents.

	
			
	 
	41
	 

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective.
Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security.
The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the second immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall be entitled to give such consent or to revoke any consent previously given or take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date.
Section 9.6.      Notation on or Exchange of Securities.
The Company or the Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon receipt of a Company Order in accordance with Section 2.3 new Securities of that Series that reflect the amendment or waiver.
Section 9.7.      Trustee Protected.
In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in relying upon, an Officer’s Certificate or an Opinion of Counsel or both complying with Section 10.4. The Trustee shall sign all supplemental indentures upon delivery of such an Officer’s Certificate or Opinion of Counsel or both, except that the Trustee need not sign any supplemental indenture that adversely affects its rights, duties, liabilities or immunities under this Indenture.

	
			
	 
	42
	 

ARTICLE X. 
MISCELLANEOUS
Section 10.1.      Trust Indenture Act Controls.
If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control.
Section 10.2.      Notices.
Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and delivered in person or mailed by first-class mail (registered or certified, return receipt requested), facsimile transmission, email or overnight air courier guaranteeing next day delivery, to the others’ address:
	
		
	If to the Company:
	Global Water Resources, Inc. 
21410 N. 19th Avenue #220 
Phoenix, Arizona 85027 
Attention: Chief Financial Officer 
Telephone: (480) 360-7775

	with a copy to:
	Snell & Wilmer L.L.P. 
One Arizona Center 
400 East Van Buren Street 
Phoenix, Arizona 85004 
Attention: Michael M. Donahey 
Telephone: (602) 382-6000

	If to the Trustee:
	                                                                    
Attention:                                                    
Telephone:                                                 

	with a copy to:
	                                                                    
Attention:                                                    
Telephone:                                                 

The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.
Any notice or communication to a Securityholder shall be sent electronically or by first-class mail to his, her or its address shown on the register kept by the Registrar, in accordance with the procedures of the Depositary. Failure to send a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series.
If a notice or communication is sent or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Securityholder receives it.

	
			
	 
	43
	 

If the Company sends a notice or communication to Securityholders, it shall send a copy to the Trustee and each Agent at the same time.
Notwithstanding any other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary.
Section 10.3.      Communication by Holders with Other Holders.
Securityholders of any Series may communicate pursuant to TIA § 312(b) with other Securityholders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c).
Section 10.4.      Certificate and Opinion as to Conditions Precedent.
Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee:
		
	(a)
	an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and

		
	(b)
	an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

Section 10.5.      Statements Required in Certificate or Opinion.
Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:
		
	(a)
	a statement that the person making such certificate or opinion has read such covenant or condition;

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

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

	
			
	 
	44
	 

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

Section 10.6.      Rules by Trustee and Agents.
The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions.
Section 10.7.      Legal Holidays.
A “Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.
Section 10.8.      No Recourse Against Others.
A director, officer, employee or stockholder (past or present), as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.
Section 10.9.      Counterparts.
This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.
Section 10.10.      Governing Law; Waiver of Jury Trial; Consent to Jurisdiction.
THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
THE COMPANY, THE TRUSTEE AND THE HOLDERS (BY THEIR ACCEPTANCE OF THE SECURITIES) EACH HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS 

	
			
	 
	45
	 

INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.
Any legal suit, action or proceeding arising out of or based upon this Indenture or the transactions contemplated hereby may be instituted in the federal courts of the United States of America located in the City of New York or the courts of the State of New York in each case located in the City of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the non exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail (to the extent allowed under any applicable statute or rule of court) to such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The Company, the Trustee and the Holders (by their acceptance of the Securities) each hereby irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim any such suit, action or other proceeding has been brought in an inconvenient forum.
Section 10.11.      No Adverse Interpretation of Other Agreements.
This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.
Section 10.12.      Successors.
All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor.
Section 10.13.      Severability.
In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
Section 10.14.      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 hereof, and shall in no way modify or restrict any of the terms or provisions hereof.
Section 10.15.      Securities in a Foreign Currency.
Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of 

	
			
	 
	46
	 

Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in more than one currency, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be determined by converting any such other currency into a currency that is designated upon issuance of any particular Series of Securities. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for the purchase of the designated currency as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as may be selected in good faith by the Company) on any date of determination. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture.
All decisions and determinations provided for in the preceding paragraph shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Trustee and all Holders.
Section 10.16.      Judgment Currency.
The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual 

	
			
	 
	47
	 

receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.
Section 10.17.      Force Majeure.
In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, it being understood that the Trustee shall use reasonable best efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.
Section 10.18.      U.S.A. Patriot Act.
The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.
ARTICLE XI. 
SINKING FUNDS
Section 11.1.      Applicability of Article.
The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series if so provided by the terms of such Securities pursuant to Section 2.2 and except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture.
The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series.

	
			
	 
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Section 11.2.      Satisfaction of Sinking Fund Payments with Securities.
The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officer’s Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company.
Section 11.3.      Redemption of Securities for Sinking Fund.
Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture hereto or Officer’s Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Securities to be redeemed upon such sinking fund payment date will be selected in the manner specified in Section 3.2 and the Company 

	
			
	 
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shall send or cause to be sent a notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in and in accordance with Section 3.3. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6.
IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of the day and year first above written.
	
		
	GLOBAL WATER RESOURCES, INC.

	By:
	 

	Name:
	 

	Its:
	 

	 
	 

	[___________________________], as Trustee

	 
	 

	By:
	 

	Name:
	 

	Its:
	 

	
			
	 
	50

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