Document:

Supplemental Indenture

 Exhibit 4.1 
 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: 
 U.S. BANK NATIONAL ASSOCIATION

 633 W. FIFTH STREET, 24th FLOOR 
 LOS ANGELES, CA 90071 
 ATTN: CORPORATE TRUST SERVICES 

Index as a UCC Filing and an Indenture 
 This is a Security Agreement and a Mortgage of Chattels 
 as well as a
Mortgage of Real Estate and Other Property 
 FIFTY-EIGHTH SUPPLEMENTAL INDENTURE 

FROM 

SAN DIEGO GAS & ELECTRIC COMPANY 
 TO 
 U.S. BANK NATIONAL ASSOCIATION, as Trustee 

**************** 

Dated as of August 18, 2011 

 THIS FIFTY-EIGHTH SUPPLEMENTAL INDENTURE IS A SECURITY 

AGREEMENT AND A MORTGAGE OF CHATTELS AS WELL AS 
 A MORTGAGE OF REAL ESTATE AND OTHER PROPERTY 
 THIS FIFTY-EIGHTH
SUPPLEMENTAL INDENTURE, dated as of the eighteenth day of August 2011, by and between SAN DIEGO GAS & ELECTRIC COMPANY, a corporation duly organized and existing under and by virtue of the laws of the State of California, having its
principal office in that State in the City of San Diego (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a banking association duly organized under an act known as the “National Bank Act,” of the United States of
America, having a corporate trust office in the City of Los Angeles, State of California, as Trustee (the “Trustee”). 
 WHEREAS, the Company executed and delivered a Mortgage and Deed of Trust (the “Original Indenture”), dated July 1, 1940, to The Bank of California, National Association, as
predecessor trustee to Bankers Trust Company of California, National Association, as predecessor trustee to First Trust of California, National Association, (subsequently renamed U.S. Bank Trust National Association) as predecessor trustee to the
Trustee, to secure payment of the principal of and the interest on all bonds of the Company at any time outstanding thereunder according to their tenor and effect, and to provide the terms and provisions with respect to its First Mortgage Bonds, 3 3/8% Series due July 1, 1970, issued in the
aggregate principal amount of $16,000,000 and heretofore retired; and 
 WHEREAS, the Company
executed and delivered to the then current trustee, a First Supplemental Indenture dated as of December 1, 1946, a Second Supplemental Indenture dated as of March 1, 1948, a Third Supplemental Indenture dated as of April 1, 1952, a
Fourth Supplemental Indenture dated as of April 1, 1954, a Fifth Supplemental Indenture dated as of October 1, 1955, a Sixth Supplemental Indenture dated as of October 1, 1957, a Seventh Supplemental Indenture dated as of
October 1, 1960, an Eighth Supplemental Indenture dated as of March 1, 1967, a Tenth Supplemental Indenture dated as of December 1, 1968, an Eleventh Supplemental Indenture dated as of February 1, 1970, a Twelfth Supplemental
Indenture dated as of September 1, 1971, a Thirteenth Supplemental Indenture dated as of January 15, 1974, a Fourteenth Supplemental Indenture dated as of December 15, 1974, a Fifteenth Supplemental Indenture dated as of May 1,
1975, a Seventeenth Supplemental Indenture dated as of July 15, 1976, an Eighteenth Supplemental Indenture dated as of March 15, 1977, a Nineteenth Supplemental Indenture dated as of May 1, 1978, a Twentieth Supplemental Indenture
dated as of March 15, 1980, a Twenty-First Supplemental Indenture dated as of August 1, 1980, a Twenty-Second Supplemental Indenture dated as of July 15, 1981, a Twenty-Third Supplemental Indenture dated as of January 15, 1982, a
Twenty-Fourth Supplemental Indenture dated as of August 16, 1982, a Twenty-Fifth Supplemental Indenture dated as of August 16, 1982, a Twenty-Sixth Supplemental Indenture dated as of August 16, 1982, a Twenty-Seventh Supplemental
Indenture dated as of June 2, 1983, a Twenty-Eighth Supplemental Indenture dated as of July 15, 1983, a Twenty-Ninth Supplemental Indenture dated as of September 1, 1983, a Thirty-First, Supplemental Indenture dated as of May 1,
1984, a Thirty-Second Supplemental Indenture dated as of December 1, 1984, a Thirty-Third Supplemental Indenture dated as of September 1, 1985, a Thirty-Fourth Supplemental Indenture dated as of December 1, 1985, a Thirty-Fifth
Supplemental Indenture dated as of July 1, 1986, a Thirty-Sixth Supplemental Indenture dated as of December 1, 1986, a Thirty-Seventh Supplemental Indenture dated as of September 1, 1987, a Thirty-Eighth Supplemental Indenture dated
as of April 15, 1990, a Thirty-Ninth Supplemental Indenture dated as of December 1, 1991, a Fortieth Supplemental Indenture dated as of April 1, 1992, a Forty-First Supplemental Indenture dated as of June 15, 1992, a Forty-Second
Supplemental Indenture dated as of September 1, 1992, a Forty-Third Supplemental Indenture dated as of December 1, 1992, a Forty-Fourth Supplemental Indenture dated as of April 1, 1993, a Forty-Fifth Supplemental Indenture dated as of
June 1, 1993, a Forty-Sixth Supplemental Indenture dated as of July 1, 1993, a Forty-Seventh Supplemental Indenture dated as of June 1, 1995, a Forty-Eighth Supplemental Indenture dated as of June 1, 1995, a Forty-Ninth
Supplemental Indenture dated as of June 1, 2004, a Fiftieth Supplemental Indenture dated as of May 19, 2005, a Fifty-First Supplemental Indenture dated as of November 17, 2005, a Fifty-Second Supplemental Indenture dated as of
June 8, 2006, a Fifty-Third Supplemental Indenture dated as of September 1, 2006, a Fifty-Fourth Supplemental Indenture dated as of September 20, 2007, a Fifty-Fifth Supplemental Indenture dated as of May 14, 2009, a Fifty-Sixth
Supplemental Indenture dated as of May 13, 2010 and a Fifty-Seventh Supplemental Indenture dated as of August 26, 2010, whereby, among other things, the Company set forth certain of the particulars of the Bonds of series designated
“First Mortgage Bonds, 2 3/4% Series due
December 1, 1981” issued in the aggregate principal amount of $2,800,000, “First Mortgage Bonds, Series C 

  
 1 

 
due 1978” issued in the aggregate principal amount of $10,000,000, “First Mortgage Bonds, Series D due 1982” issued in the aggregate principal amount of $512,000,000, “First
Mortgage Bonds, Series E due 1984” issued in the aggregate principal amount of $17,000,000, “First Mortgage Bonds, Series F due 1985” issued in the aggregate principal amount of $18,000,000, “First Mortgage Bonds, Series G due
1987” issued is the aggregate principal amount of $12,000,000, “First Mortgage Bonds, Series H due 1990” issued in the aggregate principal amount of $30,000,000, “First Mortgage Bonds, Series I due 1997” issued in the
aggregate principal amount of $25,000,000, “First Mortgage Bonds, Series J due 1998” issued in the aggregate principal amount of $35,000,000, “First Mortgage Bonds, Series K due 2000” issued in the aggregate principal amount of
$40,000,000, “First Mortgage Boards, Series L due 2001” issued in the aggregate principal amount of $45,000,000, “First Mortgage Bonds, Series M due 2004” issued in the aggregate principal amount of $75,000,000, “First
Mortgage Bonds, Series N due 1979” issued in the aggregate principal amount of $50,000,000, “First Mortgage Bonds, Series O due 1982” issued in the aggregate principal amount of $40,000,000, “First Mortgage Bonds, Series P due
2006” issued in the aggregate principal amount of $45,000,000, “First Mortgage Bonds, Series Q due 2007” issued in the aggregate principal amount of $50,000,000, “First Mortgage Bonds, Series R due 2008” issued in the
aggregate principal amount of $50,000,000, “First Mortgage Bonds, Series S due 2010” issued in the aggregate principal amount of $50,000,000, “First Mortgage Bonds, Series T due 2010” issued in the aggregate principal amount of
$75,000,000, “First Mortgage Bonds, Series U-1 due 1984, and U-2 due 1994” issued in the aggregate principal amount of $6,567,000 for Series U-1 and $13,268,000 for Series U-2, “First Mortgage Bonds, Series V due 2011” issued in
the aggregate amount of $50,000,000, “First Mortgage Bonds, Series W due 1988” issued in the aggregate principal amount of $40,000,000, “First Mortgage Bonds, Series X due 1987” issued in the aggregate principal amount of
$20,000,000, “First Mortgage Bonds, Series Y due 1987” issued in the aggregate principal amount of $15,000,000, “First Mortgage Bonds, Series Z, due 2013” issued in the aggregate principal amount of $65,000,000, “First
Mortgage Bonds, Series AA, due 2018” issued in the aggregate principal amount of $150,000,000, “First Mortgage Bonds, Series BB, due 2018” issued in the aggregate principal amount of $150,000,000, “First Mortgage Bonds, Series
CC, due 2008” issued in the aggregate principal amount of $53,000,000, “First Mortgage Bonds Series DD, due 2008” issued in the aggregate principal amount of $27,000,000, “First Mortgage Bonds, Series EE, due 2015” issued in
the aggregate principal amount of $100,000,000, “First Mortgage Bonds, Series FF, due 2007” issued in the aggregate principal amount of $35,000,000, “First Mortgage Bonds, Series GG, due 2021” issued in the aggregate principal
amount of $44,250,000, “First Mortgage Bonds, Series HH, due 2021” issued in the aggregate principal amount of $381,350,000, “First Mortgage Bonds, Series II due 2023” issued in the aggregate principal amount of $25,000,000,
“First Mortgage Bonds, Series JJ, due 2015” issued in aggregate principal amount of $100,000,000, “First Mortgage Bonds, Series KK, due 2015” issued in the aggregate principal amount of $14,400,000, “First Mortgage Bonds,
Series LL, due 2022” issued in the aggregate principal amount of $60,000,000, “First Mortgage Bonds, Series MM due 2002” issued in the aggregate principal amount of $80,000,000, “First Mortgage Bonds, Series NN” issued in
the aggregate principal amount of $118,615,000, “First Mortgage Bonds, Series OO” issued in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series PP, due 2018” issued in the aggregate principal amount of
$70,795,000, “First Mortgage Bonds, Series QQ, due 2018” issued in the aggregate principal amount of $14,915,000, “First Mortgage Bonds, Series RR, due 2021” issued in the aggregate principal amount of $60,000,000, “First
Mortgage Bonds, Series SS, due 2018” issued in the aggregate principal amount of $92,945,000, “First Mortgage Bonds, Series TT due 2020” issued in the aggregate principal amount of $57,650,000, “First Mortgage Bonds, Series UU
due 2020” issued in the aggregate principal amount of $16,700,000, “First Mortgage Bonds, Series VV due 2034” issued in the aggregate principal amount of $43,615,000, “First Mortgage Bonds, Series WW due 2034” issued in the
aggregate principal amount of $40,000,000, “First Mortgage Bonds, Series XX due 2034” issued in the aggregate principal amount of $35,000,000, “First Mortgage Bonds, Series YY due 2034” issued in the aggregate principal amount of
$24,000,000, “First Mortgage Bonds, Series ZZ due 2034” issued in the aggregate principal amount of $33,650,000, “First Mortgage Bonds, Series AAA due 2039” issued in the aggregate principal amount of $75,000,000, “First
Mortgage Bonds, Series BBB due 2035” issued in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series CCC due 2015” issued in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series
DDD due 2026” issued in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series EEE due 2018” issued in the aggregate principal amount of $161,240,000, “First Mortgage Bonds, Series FFF due 2037” issued
in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series GGG due 2039” issued in the aggregate principal amount of $300,000,000, “First Mortgage Bonds, Series HHH due 2040” issued in the aggregate
principal amount of $250,000,000 and “First Mortgage Bonds, Series III due 2040” issued in the aggregate principal amount of $500,000,000, respectively, all of which First Mortgage Bonds have heretofore been retired or redeemed, except the
Series KK due 2015, the Series OO, the Series RR due 2021, the Series VV due 2034, the Series WW due 2034, the 

  
 2 

 Series XX due 2034, the Series YY due 2034, the Series ZZ due 2034, the Series AAA due 2039, the Series BBB
due 2035, the Series CCC due 2015, the Series DDD due 2026, the Series EEE due 2018, the Series FFF due 2037, the Series GGG due 2039, the Series HHH due 2040 and the Series III due 2040, which are presently issued and outstanding; and 

WHEREAS, certain of the provisions of the Original Indenture have been amended by the aforesaid Second and Tenth Supplemental Indentures,
a Ninth Supplemental Indenture dated as of August 1, 1968, a Sixteenth Supplemental Indenture dated August 28, 1975, and a Thirtieth Supplemental Indenture dated September 23, 1983; and 

WHEREAS, the Original Indenture and each of said Supplemental Indentures have been recorded in the Official Records of the Recorders of
the Counties of San Diego, Orange, Riverside, and Imperial in the State of California and the Counties, Yuma and Maricopa in the State of Arizona, as follows: 
  

											
	 	  	 	  	 Counties of

	 Document
	  	 Official
Records
	  	 San Diego
	  	 Orange
	  	 Riverside
	  	 Imperial

	 Original

Indenture
	  	 Book
 Page

Date
	  	 1087
 1

Oct. 10, 1940
	  	 1062
 300

Oct. 10, 1940
	  	 1765
 364

July 13, 1955
	  	 1369
 232

Nov. 22, 1974

						
	 First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 2321
 48

Jan. 2, 1947
	  	 1506
 472

Jan. 9, 1947
	  	 1765
 499

July 13, 1955
	  	 1369
 332

Nov. 22, 1974

						
	 Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 2537
 363

Mar. 16, 1948
	  	 1616
 190

Mar. 15, 1948
	  	 1765
 448

July 13, 1955
	  	 1369
 343

Nov. 22, 1974

						
	 Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 4424
 535

Apr. 3, 1952
	  	 2311
 116

Apr. 3, 1952
	  	 1765
 475

July 13, 1955
	  	 1369
 370

Nov. 22, 1974

						
	 Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 5193
 217

Apr. 2, 1954
	  	 2701
 153

Apr. 2, 1954
	  	 1765
 336

July 13, 1955
	  	 1369
 409

Nov. 22, 1974

						
	 Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 5893
 291

Dec. 5, 1955
	  	 3304
 205

Dec. 5, 1955
	  	 1829
 3

Dec. 5, 1955
	  	 2369
 456

Nov. 22, 1974

						
	 Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 6829
 390

Nov. 12, 1957
	  	 4099
 109

Nov. 12, 1957
	  	 2175
 538

Nov. 12, 1957
	  	 1369
 492

Nov. 22, 1974

						
	 Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 1960 Series 1
 File No.
202061
 Oct. 10, 1960
	  	 5455
 385

Oct. 10, 1960
	  	 2780
 3

Oct. 10, 1960
	  	 1369
 541

Nov. 22, 1974

						
	 Eighth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 1967 Series 8
 File No.
33860
 Mar. 13, 1967
	  	 8197
 129

Mar. 13, 1967
	  	 Endorsement
 No.
20925
 Mar. 13, 1967
	  	 1369
 618

Nov. 22, 1974

						
	 Ninth

Supplemental
 Indenture
	  	 Book
 Page

Doc. No.
 Date
	  	 1968 Series 9
  

138926
 Aug. 14, 1968
	  	 8691
 69

9816
 Aug. 14, 1968
	  	 78781
 Aug. 14,
1968
	  	 1369
 694

 
 Nov. 22,
1974

  
 3 

											
	 Tenth
 Supplemental
 Indenture
	  	 Book
 Page

Doc. No.
 Date
	  	 1968 Series 9
  

215131
 Dec. 9, 1968
	  	 8810
 375

 
 Dec. 9, 1968
	  	 Endorsement
 No.
119982
  
 Dec. 9, 1968
	  	 1369
 706

 
 Nov. 22, 1974

						
	 Eleventh

Supplemental
 Indenture
	  	 Book
 Page

Doc. No.
 Date
	  	 1970
  

27782
 Feb. 16, 1970
	  	 9217
 516

 
 Feb. 16, 1970
	  	 Endorsement
 No.
14780
  
 Feb. 16, 1970
	  	 1369
 725

 
 Nov. 22, 1974

						
	 Twelfth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
212688
 Sept. 20, 1971
	  	 9810
 539

Sept. 20, 1971
	  	 Endorsement
 No.
106508
 Sept. 20, 1971
	  	 1369
 744

Nov. 22, 1974

						
	 Thirteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 74-006878
 Jan. 10, 1974
	  	 11055
 1

Jan. 10, 1974
	  	 Endorsement
 No.
3853
 Jan. 10, 1974
	  	 1369
 763

Nov. 22, 1974

						
	 Fourteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 74-322156
 Dec. 11, 1974
	  	 11303
 458

Dec. 11, 1974
	  	 Endorsement
 No.
157219
 Dec. 11, 1974
	  	 1369
 1689

Dec. 11, 1974

						
	 Fifteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 755-108612
 May 7, 1975
	  	 11395
 1879

May 7, 1975
	  	 Instrument
 No.
52617
 May 7, 1975
	  	 1374
 809

May 7, 1975

						
	 Sixteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 75-235624
 Sept. 2, 1975
	  	 11500
 1620

Sept. 2, 1975
	  	 Instrument
 No.
107732
 Sept. 3, 1975
	  	 1378
 952

Sept. 2, 1975

						
	 Seventeenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
76-224493
 July 16, 1976
	  	 11815
 640

July 16, 1976
	  	 Instrument
 No.
103484
 July 16, 1976
	  	 1389
 687

July 16, 1976

						
	 Eighteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 77-100483
 Mar. 18, 1977
	  	 12110
 58

Mar. 18, 1977
	  	 Instrument
 No.
45619
 Mar. 18, 1977
	  	 1398
 1675

Mar. 18, 1977

						
	 Nineteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 78-194210
 May 12, 1978
	  	 12672

1803-1822
 May 12, 1978
	  	 Instrument
 No.
94450
 May 12, 1978
	  	 1415
 1638

May 12, 1978

						
	 Twentieth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 80-082569
 Mar. 11, 1980
	  	 13530
 722

Mar. 11, 1980
	  	 Instrument
 No.
47195
 Mar. 11, 1980
	  	 1448
 1221

Mar. 11, 1980

						
	 Twenty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 80-245100
 Aug. 1, 1980
	  	 13687
 349

Aug. 1, 1980
	  	 Instrument
 No.
139349
 Aug. 1, 1980
	  	 1455
 1660

Aug. 1, 1980

						
	 Twenty-Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 81-22576
 July 17, 1981
	  	 Instrument
 No.
24605
 July 17, 1981
	  	 Instrument
 No.
135815
 July 17, 1981
	  	 1472
 508

July 17, 1981

						
	 Twenty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 82-02387
 Jan. 27, 1982
	  	 Instrument

No. 82-031423
 Jan. 27, 1982
	  	 Instrument
 No.
16093
 Jan. 27, 1982
	  	 1479
 1714

Jan. 27, 1982

						
	 Twenty-Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
82-257258
 Aug. 19, 1982
	  	 File/Page

No. 82-291894
 Aug. 19, 1982
	  	 File/Page

No. 82/143370212
 Aug. 19,
1982
	  	 1489
  

Aug. 19, 1982

						
	 Twenty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
82-257259
 Aug. 19, 1982
	  	 File/Page
 No.
82-291895
 Aug. 19, 1982
	  	 File/Page
 No.
82-143371
 Aug. 19, 1982
	  	 1489
 236

Aug. 19, 1982

  
 4 

											
	 Twenty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 82-257260
 Aug. 19, 1982
	  	 File/Page

No. 82-291896
 Aug. 19, 1982
	  	 File/Page

No. 82/143372260
 Aug. 19,
1982
	  	 1489
 Aug. 19,
1982

						
	 Twenty-Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 83-200545
 June 15, 1983
	  	 File/Page

No. 83-253901
 June 15, 1983
	  	 File/Page

No. 118670

June 15, 1983
	  	 1503
 743

June 15, 1983

						
	 Twenty-Eighth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 83-252396
 July 22, 1983
	  	 File/Page

No. 83-316224
 July 22, 1983
	  	 File/Page
 No.
147671
 July 22, 1983
	  	 1505
 583

July 22, 1983

						
	 Twenty-Ninth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

No. 83-339007
 Sept. 22,
1983
	  	 File/Page

No. 83-417956
 Sept. 22,
1983
	  	 File/Page

194083
 Sept. 22, 1983
	  	 1508
 1425

Sept. 22, 1983

  

							
	 	  	 	  	Counties of
	 	  	Official
Records	  	Yuma	  	Maricopa
	 Thirtieth

Supplemental
 Indenture
 Consisting of

Original and
 Twenty-Nine
 Supplemental

Indentures thereto
	  	Book
 Page
 Book
 Page
 Date
	  	Docket 1352
 272-1002

Docket 1353
 1-264

Sept. 28, 1983
	  	File No.
 83-399354

 
  

Oct. 3, 1983

  

															
	 	  	 	  	 Counties of

	 Document
	  	 Official
Records
	  	 San Diego
	  	 Orange
	  	 Riverside
	  	 Imperial
	  	 Yuma
	  	 Maricopa

	 Thirty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

84-161897
 5/2/84
	  	 File/Page

84-180870
 5/2/84
	  	 File/Page

92011
 5/2/84
	  	 1520
 1552

4/30/84
	  	 Docket 1382

743-761
 4/30/84
	  	 File No.

84-186813
 5/2/84

								
	 Thirty-Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

84-466428
 12/14/84
	  	 File/Page
 84
-517843
 12/14/84
	  	 File/Page

267452
 12/14/84
	  	 1533
 753

12/14/84
	  	 Docket 1413

216-235
 12/14/84
	  	 File No.

84-537706
 12/14/84

								
	 Thirty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

85-323210
 9/4/85
	  	 File/Page

85-333505
 9/4/85
	  	 File/Page

198810
 9/4/85
	  	 1546
 708

9/4/85
	  	 Docket 1450

816
 9/4/85
	  	 File No.

85-418309
 9/4/85

								
	 Thirty-Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

85-42465
 12/2/85
	  	 File/Page

85-481794
 12/2/85
	  	 File/Page

270136
 12/2/85
	  	 1550
 1573

12/3/85
	  	 Docket 1463

215
 12/3/85
	  	 File No.

85-568874
 12/2/85

								
	 Thirty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

86-279922
 7/8/86
	  	 File/Page

86-290957
 7/8/86
	  	 File/Page

158161
 7/8/86
	  	 1562
 549

7/8/86
	  	 Docket 1491

639-657
 7/8/86
	  	 File No.

86-347412
 7/8/86

								
	 Thirty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

86-576027
 12/10/86
	  	 File/Page

86-606666
 12/10/86
	  	 File/Page

314771
 12/10/86
	  	 1571
 240

12/10/86
	  	 Docket 1512

5-24
 12/10/86
	  	 File/Page

86-680502
 12/10/86

								
	 Thirty-Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

87-532270
 9/21/87
	  	 File/Page

87-530266
 9/21/87
	  	 File/Page

273181
 9/21/87
	  	 1588
 844

9/21/87
	  	 Docket 1555

844
 9/21/87
	  	 File/Page

87-585903

9/21/87

  
 5 

															
	 Thirty-Eighth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

90-217585
 4/23/90
	  	 File/Page

90-212277
 4/23/90
	  	 File/Page

146794
 4/23/90
	  	 1646
 1280

4/23/90
	  	 Docket 1686

92-120
 4/23/90
	  	 File/Page

88-176460
 4/23/90

								
	 Thirty-Ninth
 Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

91-632073
 12/09/91
	  	 File/Page

91-674397
 12/09/91
	  	 File/Page

425578
 12/09/91
	  	 1687
 743

12/09/91
	  	 Docket 1771

711-728
 12/09/91
	  	 File/Page

91-0574751
 12/09/91

								
	 Fortieth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

92-185636
 4/1/92
	  	 File/Page

92-202372
 4/1/92
	  	 File/Page

115201
 4/1/92
	  	 Book/Page

92-06577
 4/1/92
	  	 Docket 1790

954-970
 4/1/92
	  	 File/Page

92-0169646
 4/1/92

								
	 Forty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

92-0363471
 6/11/92
	  	 File/Page

92-393790
 6/11/92
	  	 File/Page

214904
 6/11/92
	  	 Book/Page

92-011833
 6/11/92
	  	 Docket 1804

73-88
 6/11/92
	  	 File/Page

92-0317072
 6/11/92

								
	 Forty-Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

92-0650893
 10/13/92
	  	 File/Page

92-692066
 10/13/92
	  	 File/Page

384167
 10/13/92
	  	 Book/Page

92-21988
 10/13/92
	  	 Docket 1824

670-689
 10/13/92
	  	 File/Page

92-0575062
 10/13/92

								
	 Forty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

92-0788665
 12/9/92
	  	 File/Page

92-845626
 12/10/92
	  	 File/Page

471625
 12/10/92
	  	 Book/Page

92-27082
 12/9/92
	  	 Docket 1834

187-206
 12/9/92
	  	 File/Page

92-0700568
 12/9/92

								
	 Forty-Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

93-0257065
 4/27/93
	  	 File/Page

93-0277892
 4/27/93
	  	 File/Page

153382
 4/27/93
	  	 Book/Page

93-009487
 4/27/93
	  	 Docket 1859
 Fee
09300
 4/27/93
	  	 File/Page

93-0246725
 4/26/93

								
	 Forty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

93-0395609
 6/23/93
	  	 File/Page

93-0420127
 6/23/93
	  	 File/Page

239922
 6/23/93
	  	 Book/Page

93-14224
 6/23/93
	  	 Docket
 Fee
14413
 6/23/93
	  	 File/Page

93-0403060
 6/23/93

								
	 Forty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

93-0474705
 7/26/93
	  	 File/Page

93-0496100
 7/26/93
	  	 File/Page

288868
 7/27/93
	  	 Book/Page

93-17399
 7/27/93
	  	 Docket
 Fee
17163
 7/27/93
	  	 File/Page

93-0487598
 7/27/93

								
	 Forty-Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

95-0230457
 6/01/95
	  	 File/Page

95-0232951
 6/01/95
	  	 File/Page

175604
 6/01/95
	  	 Book/Page

95-11739
 6/01/95
	  	 Docket

246-264
 6/01/95
	  	 File/Page

95-0313576
 6/01/95

								
	 Forty-Eighth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

95-0230458
 6/01/95
	  	 File/Page

95-0232952
 6/01/95
	  	 File/Page

175605
 6/01/95
	  	 Book/Page

95-11740
 6/01/95
	  	 Docket

265-284
 6/01/95
	  	 File/Page

95-0343577
 6/01/95

								
	 Forty-Ninth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

05-00384477
 1/14/05
	  	 File/Page

04-683110
 7/28/04
	  	 File/Page

04-0766976
 9/28/04
	  	 Book/Page

04-021901
 7/15/04
	  	 Docket

04-29663
 8/16/04
	  	 File/Page

04-941699
 8/13/04

								
	 Fiftieth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

20050441722
 5/25/05
	  	 File/Page

2005000405730
 5/26/05
	  	 File/Page

20050145832
 5/25/05
	  	 Book/Page

019964
 5/25/05
	  	 Docket

200522373
 5/25/05
	  	 File/Page

20050711918
 5/27/05

								
	 Fifty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

20051016267
 11/23/05
	  	 File/Page

2005000945695
 11/28/05
	  	 File/Page

20050981667
 11/29/05
	  	 Book/Page

2006005449
 1/30/06
	  	 Docket

200553032
 12/2/05
	  	 File/Page

20051852692
 12/7/05

								
	 Fifty-Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2006-0413693
 6/12/06
	  	 File/Page

2006000404447
 6/16/06
	  	 File/Page

2006-0422620
 6/12/06
	  	 Book/Page

2006-032418
 7/11/06
	  	 Docket

2006-23999
 6/12/06
	  	 File/Page

2006-0802735

6/14/06

  
 6 

															
	 Fifty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2006-0683713
 9/26/06
	  	 File/Page

2006000643109
 9/27/06
	  	 File/Page

713252
 9/27/06
	  	 Book/Page

06-46145
 9/28/06
	  	 Docket

2006-39635
 9/29/06
	  	 File/Page

20061310143
 10/3/06

								
	 Fifty-Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2007-0625504
 9/25/07
	  	 File/Page

2007000581227
 9/25/07
	  	 File/Page

2007-0600369
 9/25/07
	  	 Book/Page

2007-036497
 9/25/07
	  	 Docket

2007-33238
 9/25/07
	  	 File/Page

2007-1062404
 9/26/07

								
	 Fifty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2009-0320954
 6/12/09
	  	 File/Page

2009000305886
 6/12/09
	  	 File/Page

2009-0311041
 6/18/09
	  	 Book/Page

2009-017587
 6/12/09
	  	 Docket
 16744

6/15/09
	  	 File/Page

20090542104
 6/15/09

								
	 Fifty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2010-0252569
 5/20/10
	  	 File/Page

2010000239342
 5/21/10
	  	 File/Page

2010-0235807
 5/21/10
	  	 Book/Page

2010-012850
 5/21/10
	  	 Docket

2010-12687
 5/21/10
	  	 File/Page

20100431348
 5/21/10

		  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

								
	 Fifty-Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2010-0490784
 9/16/10
	  	 File/Page

2010000458947
 9/16/10
	  	 File/Page

2010-0443991
 9/16/10
	  	 Book/Page

2010-023359
 9/16/10
	  	 Docket

2010-22669
 9/16/10
	  	 File/Page

20100800415
 9/16/10

 WHEREAS, the Board of Directors of the Company has duly authorized the creation of an additional series
of bonds to be designated “First Mortgage Bonds, Series JJJ, due 2021,” as hereinafter set forth in this Fifty-Eighth Supplemental Indenture; and 
 WHEREAS, the execution and delivery of this Fifty-Eighth Supplemental Indenture has been duly authorized by resolution of the Board of Directors of the Company; and 

WHEREAS, all the conditions and requirements necessary to make this Fifty-Eighth Supplemental Indenture a valid, binding and legal
instrument in accordance with its terms and for the purposes herein expressed have been performed and fulfilled and the execution and delivery hereof have been in all respects duly authorized. 

NOW, THEREFORE, in order further to secure the payment of the principal of and premium, if any, and interest on all of the bonds of the
Company at any time outstanding under the Original Indenture, as from time to time amended and supplemented (the “Indenture”) and to secure the performance and observance of each and every of the covenants and agreements of the
Indenture, as from time to time amended and supplemented, and for and in consideration of the premises, and of the sum of One Dollar ($1.00) to the Company duly paid by the Trustee (the receipt whereof is hereby acknowledged), the Company has
executed and delivered this Fifty-Eighth Supplemental Indenture and has granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, hypothecated, granted a security interest in, set over and confirmed, and by
these presents does grant, bargain, sell, warrant, release, convey, assign, transfer, mortgage, pledge, hypothecate, grant a security interest in, set over and confirm unto U.S. Bank National Association, as Trustee, and to its respective successors
in said trust forever, with power of sale, all property, real, personal and mixed, now owned or hereafter acquired or to be acquired by the Company, and wheresoever situated (except such property as is expressly excepted or excluded from the lien
and security interest of the Indenture, and property of a successor corporation or corporations excluded from the lien and security interest thereof by the provisions of Section 3 of Article XIV thereof) subject to the rights reserved by the
Company in and by other provisions of the Indenture, including in the property subject and to be subject to the lien and security interest thereof and hereof (without in any manner limiting or impairing by the enumeration of the same scope and
intent of the foregoing or of any general description contained in the Original Indenture or in this or any other supplemental indenture) all lands, rights-of-way, other land rights, flowage and other water rights, power houses, dams, reservoirs,
docks, roads, and buildings, structures and other land improvements; steam, and other electric generating plants, including buildings and other structures, turbines, generators, exciters, boilers and other boiler plant equipment, condensing
equipment, and all auxiliary equipment; stations and substations; electric transmission and distribution systems, including structures, poles, towers, fixtures, conduits, insulators, wires, cables, transformers, services and meters; steam heating
plants and systems, including mains and equipment, gas plants, transmission and distribution systems, including pipe lines, structures, tanks, mains, compressor stations, purifier stations, pressure holders, governors, services and meters;
communication systems, office, shop and other buildings and structures, and equipment; apparatus and equipment and materials and supplies of all other kinds and descriptions; and all municipal and other franchises, leaseholds, licenses, permits, and
privileges; 

  
 7 

 TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or
in any wise appertaining to the aforesaid property or any part thereof with the reversion and reversions, remainder and remainders, tolls, rents and revenues, issues, income, proceeds, product and profits thereof, and all the estate, right, title
and interest and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid property and every part and parcel thereof (except such property as is expressly excepted or excluded from the
lien and security interest of the Indenture, and property of a successor corporation or corporations excluded from the lien and security thereof by the provisions of Section 3 of Article XIV thereof), subject to the rights reserved by the
Company in and by other provisions of the Indenture; 
 It is hereby agreed by the Company that, except as aforesaid, all the
property, rights, and franchises acquired by the Company after the date hereof shall be as fully embraced within the lien and security interest hereof as if such property were now owned by the Company and were specifically described herein and
conveyed and a security interest therein granted hereby; 
 SAVING AND EXCEPTING, HOWEVER, anything to the contrary
notwithstanding contained herein or in the granting clauses of the Original Indenture and said Supplemental Indentures (a) such property described or referred to in any of such granting clauses as has been from time to time, released or sold
free from the lien and security interest of the Original Indenture (or the Original Indenture, as supplemented) in accordance and compliance with the provisions thereof (or of the Original Indenture, as supplemented, as the case may be), and
(b) all of the following property (whether now owned by the Company or hereafter acquired by it): (1) all gas, electric energy and steam produced, purchased or otherwise acquired; (2) all contracts, choses in action, shares of stock,
bonds, notes, evidences of indebtedness, and other securities, other than any of the foregoing which may be required to be deposited from time to time with the Trustee in accordance with the provisions of the Indenture or are required by some
express provision thereof to be deposited with the Trustee; (3) merchandise and appliances at any time acquired for the purpose of sale or lease to customers and others and contracts for the sale of merchandise and appliances; (4) motor
vehicles; (5) timber on land owned by the Company; (6) minerals or mineral rights in lands owned by the Company; (7) oil, coal or gas, or oil, coal or gas rights in land owned by the Company or gas wells or oil wells or equipment
therefor or coal mines or equipment therefor; (8) fuel and other personal property which are consumable in their use in the operation of the properties of the Company; (9) bills and accounts receivable; (10) cash on hand and in banks
other than such cash as may be deposited from time to time with the Trustee in accordance with the provisions of the Indenture or as is required by some express provision thereof to be deposited with the Trustee; and (11) the last day of the
term of each leasehold estate now or hereafter enjoyed by the Company. The Company may, however, expressly subject to the lien and security interest and operation of the Original Indenture and all indentures supplemental thereto all or any part of
the property of the character described in clause (b) of this paragraph; 
 TO HAVE AND TO HOLD all said properties, real,
personal and mixed, mortgaged, pledged, or conveyed and in which a security interest has been granted by the Company as aforesaid, or intended so to be, unto the Trustee and its successors and assigns forever, subject, however, to Permitted Liens as
defined in the Indenture; 
 IN TRUST NEVERTHELESS, for the equal pro rata benefit and security as provided in the Original
Indenture and all indentures supplemental thereto of all and every of the bonds issued and to be issued in accordance with the provisions of the Original Indenture and all indentures supplemental thereto, without preference, priority or distinction
as to lien or security interest of any over the others by reason of priority in time of the issue, negotiation or maturity thereof, subject, however, to the provisions of the Original Indenture and all indentures supplemental thereto relating to any
sinking fund or similar fund for the benefit of the bonds of any particular series; 
 The Company does further covenant and
agree with the Trustee as follows: 
 ARTICLE I 
 SERIES JJJ BONDS 
 Section 1: There is hereby created, for
issuance under the Original Indenture as supplemented by the said Supplemental Indentures (including this Fifty-Eighth Supplemental Indenture), a series of bonds designated Series 

  
 8 

 
JJJ, due 2021, each of which shall bear the descriptive title “First Mortgage Bonds, Series JJJ, due 2021” (herein sometimes referred to as “Series JJJ Bonds”), and the
form thereof shall contain suitable provisions with respect to the matters hereinafter in this Section specified. The Series JJJ Bonds shall mature on August 15, 2021 and shall be issued in denominations of $1,000 and integral multiples thereof
as the Company may from time to time execute and deliver. The Series JJJ Bonds shall bear interest at the rate and from the date, shall be expressed to mature as to principal, and shall be payable as to principal and premium, if any, and interest at
such place or places and in such money, all as provided in the form of Series JJJ Bond set forth on Exhibit A hereto (the “Form of Bond”) and by the applicable provisions of the Indenture. In addition, August 18, 2011
shall be an Interest Payment Date for the Series JJJ Bonds for purposes of Section 9 of Article II of the Indenture, provided that no interest shall be payable on such date. The principal and premium, if any, and interest on the Series
JJJ Bonds shall be payable at the corporate trust office of the Trustee in the City and County of San Francisco, State of California. The Series JJJ Bonds shall be dated as in Section 9 of Article II of the Indenture provided with respect to
registered bonds without coupons. 
 The Series JJJ Bonds shall further be redeemable, exchangeable, transferable and otherwise
have the terms set forth in the Form of Bond. 
 The Series JJJ Bonds shall otherwise be of such terms, provisions, tenor and
form as provided in this Fifty-Eighth Supplemental Indenture. 
 Section 2: The Series JJJ Bonds shall be executed,
authenticated and delivered in accordance with the provisions and shall be entitled to the protection and security of the Original Indenture, as supplemented by this Fifty-Eighth Supplemental Indenture and the other supplemental indentures, and
shall be subject to all of the terms, conditions and covenants and limitations thereof. The aggregate principal amount of the Series JJJ Bonds, which may be executed by the Company and authenticated and delivered by the Trustee and secured by the
Indenture as from time to time in effect, is limited only to the extent provided in Section 1 of Article II of the Original Indenture. 
 Section 3: The Series JJJ Bonds shall be issued only as fully registered bonds without coupons. The fully registered bonds without coupons and the certificate of authentication to be endorsed
on all Series JJJ Bonds shall be substantially in the form set forth on the Form of Bond. In addition, the Series JJJ Bonds may be issuable in whole or in part in the form of one or more securities that evidence all or part of the bonds of such
series which is issued to a depository or a nominee thereof for such series (a “Global Security”) and, in such case, the Board of Directors of the Company (or an authorized officer designated by the Board of Directors of the
Company) shall appoint a clearing agency registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), designated to act as depositary (a “depositary”) for such Global Securities. The
definitive Series JJJ Bonds shall be numbered in such manner as the Company shall at any time or from time to time determine. 

Section 4: In the event the Series JJJ Bonds are issued as a Global Security the following provisions, in addition to the
provisions of the Indenture, shall apply: 
 (1) Each Global Security authenticated under the Indenture shall be
registered in the name of the depositary designated for such Global Security or a nominee thereof and delivered to such depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single bond for all
purposes of this Supplemental Indenture. 
 (2) Notwithstanding any other provision in this Supplemental Indenture, no
Global Security may be exchanged in whole or in part for Series JJJ Bonds registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any person other than the depositary for such Global Security or a
nominee thereof unless (A) such depositary has notified the Company that it is unwilling or unable to continue as depositary for the Global Securities and a successor depositary has not been appointed by the Company within 90 days of receipt by
the Company of such notification, (B) if at any time the depositary ceases to be a clearing agency registered under the Exchange Act at a time when the depositary is required to be so registered to act as such depositary and no successor
depositary shall have been appointed by the Company within 90 days after it became aware of such cessation, (C) the Company, in its sole discretion, executes and delivers to the Trustee a written order signed in the name of the Company by its
Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary to the effect that such Global Securities shall be exchangeable as described below, or (D) a
“completed default” (as defined in the Indenture) has occurred and is continuing with respect to the Series JJJ Bonds. If any of the events described in clauses (A) through (D) of

  
 9 

 
the preceding sentence occur, the beneficial owners of interests in the Global Securities will be entitled to exchange those interests for definitive Series JJJ Bonds and, without unnecessary
delay but in any event not later than the earliest date on which those interests may be so exchanged, the Company will prepare and deliver to the Trustee definitive Series JJJ Bonds in such form and denominations as are required by or pursuant to
this Indenture, and in an aggregate principal amount equal to the principal amount of such Global Securities, such bonds to be duly executed by the Company. On or after the earliest date on which such beneficial interests may be so exchanged, such
Global Securities shall be surrendered from time to time by the depositary as shall be specified in the order from the Company with respect thereto (which the Company agrees to deliver) to the Trustee, as the Company’s agent for such purpose,
and in accordance with any instructions given to the Trustee and the depositary (which instructions shall be in writing but need not be contained in or accompanied by an officers’ certificate or be accompanied by an opinion of counsel), to be
exchanged, in whole or in part, for definitive Series JJJ Bonds as described above without charge. The Trustee shall authenticate and make available for delivery, in exchange for each portion of each surrendered Global Security, a like aggregate
principal amount of definitive Series JJJ Bonds of authorized denominations as the portion of such Global Security to be exchanged. Promptly following any such exchange in part, such Global Security shall be returned by the Trustee to such
depositary or its custodian. If a definitive Series JJJ Bond is issued in exchange for any portion of a Global Security after the close of business at the place where such exchange occurs on or after (i) any regular record date for the date the
interest is due (the “Interest Payment Date”) for such bond and before the opening of business at that place of payment on the next Interest Payment Date, or (ii) any special record date for the payment of interest for such
bond which was not punctually paid or duly provided for on any Interest Payment Date and before the opening of business at such place of payment on the related proposed date for the payment of such interest, as the case may be, interest shall not be
payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such definitive bond, but shall be payable on the Interest Payment Date or proposed date for payment, as the case may be, only to the person to
whom interest in respect of such portion of such Global Security shall be payable in accordance with the provisions of the Indenture. 
 (3) Subject to Clause (2) above, any exchange or transfer of a Global Security for other Series JJJ Bonds may be made in whole or in part, and all bonds issued in exchange for or upon transfer
of a Global Security or any portion thereof shall be registered in such names as the depositary for such Global Security shall direct. 
 (4) Every Series JJJ Bond authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, shall be authenticated and
delivered in the form of, and shall be, a Global Security, unless such bond is registered in the name of a person other than the depositary for such Global Security or a nominee thereof. 

  
 10 

 (5) Unless otherwise specified as contemplated by Section 1 of Article I of this
Supplemental Indenture for the Series JJJ Bonds evidenced thereby, every Global Security authenticated and delivered 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 A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN
WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE. ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY OTHER PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN. 

Section 5: The Series JJJ Bonds may contain or have imprinted thereon such provisions or specifications not inconsistent with
the Indenture as may be required to comply with the rules of any stock exchange or any federal or state authority or commission, or to comply with usage with respect thereto, and may bear such other appropriate endorsements or notations as are
authorized or permitted by the Indenture. 
 Section 6: In the manner and subject to certain conditions and
limitations specified herein and in the Indenture, Series JJJ Bonds may be exchanged without a service charge for a like aggregate principal amount of such Series JJJ Bonds of other authorized denomination or denominations; provided that the
Company may require payment of a sum or sums sufficient to reimburse it for any stamp tax or other governmental charge payable in connection therewith. 
 Section 7: The Company shall maintain in the City and County of San Francisco, State of California, and in such other place or places as the Company may designate at any time or from time to
time, an office or agency where Series JJJ Bonds may be presented for payment, registration, transfer and exchange as provided therein or in the Indenture. Such office or agency in the City and County of San Francisco shall be the corporate trust
office of the Trustee unless and until the Company shall designate another office or agency by notice in writing delivered to the Trustee. Notwithstanding the foregoing, if and when definitive bonds are issued, the Company shall maintain in the
Borough of Manhattan, City and County of New York, State of New York, an office or agency where Series JJJ Bonds may be presented for payment, registration, transfer and exchange as provided therein or in the Indenture. 

Section 8: No transfer or exchange of any Series JJJ Bonds pursuant to any of the provisions of this Article I shall be made
except upon and in accordance with all of the applicable terms, provisions and conditions of said bonds and of the Indenture. 

ARTICLE II 

MISCELLANEOUS PROVISIONS 
 Section 1: This instrument is executed and shall be construed as an indenture supplemental to the Original Indenture and shall form a part thereof and, as supplemented by this Fifty-Eighth
Supplemental Indenture, the Original Indenture as heretofore supplemented and amended is hereby confirmed. 

Section 2: All terms used in this Fifty-Eighth Supplemental Indenture shall be taken to have meaning as in the Original
Indenture, as heretofore supplemented and amended, except terms which may be otherwise expressly defined herein and in cases where the context clearly indicates otherwise. 
 Section 3: In order to facilitate the filing of this Fifty-Eighth Supplemental Indenture, the same may be executed in several counterparts, each of which, when so executed, shall be deemed to
be an original, but such counterparts shall constitute but one and the same instrument. 
 Section 4: All of the
covenants, stipulations, promises and agreements in this Fifty-Eighth Supplemental Indenture by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 

Section 5: To the extent any provision in this Fifty-Eighth Supplemental Indenture conflicts with any provision in the
Indenture, the provisions of this Fifty-Eighth Supplemental Indenture shall govern; provided, however, that in the event such conflict would require bondholder consent, the terms and provisions of the Indenture shall govern.

  
 11 

 Section 6: The Original Indenture, as heretofore amended and supplemented,
insofar as it applies to the Series JJJ Bonds, this Fifty-Eighth Supplemental Indenture and the Series JJJ Bonds shall be governed by and construed in accordance with the laws of the State of California, without regard to conflicts of laws
principles thereof. 
 {Signature Page Follows} 

  
 12 

 IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this Fifty-Eighth
Supplemental Indenture to be signed in its name and behalf by its duty authorized officer and its corporate seal to be hereunto affixed duly attested by its Secretary or one of its Assistant Secretaries, and U.S. BANK NATIONAL ASSOCIATION, to
evidence its acceptance of the trusts hereby created, has caused this Fifty-Eighth Supplemental Indenture to be signed in its name and behalf by its duly authorized officer as of the day and year first above written. 

 

			
	SAN DIEGO GAS & ELECTRIC COMPANY
		
	By:	 	 /s/ Robert M. Schlax

	Name: Robert Schlax
	Title: Vice President, Chief Financial Officer, Controller, Treasurer and Chief Accounting Officer

 (CORPORATE SEAL) 
 Attest: 
  

			
	By:	 	 /s/ Randall L. Clark

			
	Name:	 	Randall L. Clark
	Title:	 	Assistant Secretary

  

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	 /s/ Fonda
Hall

			
	Name:	 	Fonda Hall
	Title:	 	Vice President

  
 [Supplemental
Indenture] 

					
	 STATE OF CALIFORNIA
	 	)	  	
		 	)   to-wit:	  	
	 CITY/COUNTY OF SAN DIEGO
	 	)	  	

 On this 16th Day of August, 2011, before me, ANNIE VICTORIA RUIZ, a Notary Public, personally appeared ROBERT SCHLAX, who proved to
me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature on the instrument the person or the
entity upon behalf of which the person acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of
the State of California that the foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 

[SEAL] 
 /s/ Annie Victoria Ruiz 
  

					
	 STATE OF CALIFORNIA
	 	)	  	
		 	)   to-wit:	  	
	 CITY/COUNTY OF SAN DIEGO
	 	)	  	

 On this 16th Day of August, 2011, before me, Mary L. Elliott, a Notary Public, personally appeared RANDALL L. CLARK, who proved to
me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity and that by his signature on the instrument the person or the
entity upon behalf of which the person acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of
the State of California that the foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 

[SEAL] 
 /s/ Mary L. Elliott 

  
 [Supplemental
Indenture] 

					
	 STATE OF CALIFORNIA
	  	)	  	
		  	)   ss.:	  	
	 COUNTY OF LOS ANGELES
	  	)	  	

 On August 17, 2011, before me, Keith S. Young, a Notary Public, in and for said County and State,
personally appeared Fonda Joy Hall, of U.S. BANK NATIONAL ASSOCIATION, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the entity upon behalf of which he/she acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 
  

			
	 [SEAL]
	  	/s/ Keith S.
Young                                        
        
		  	

  
 [Supplemental
Indenture] 

 EXHIBIT A 
 FORM OF BOND 
 (Attached) 

 [If this bond is issued as a global security, insert the following legend: THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS
SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY OTHER PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.] 
 SAN DIEGO
GAS & ELECTRIC COMPANY 
 (INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA) 

3.00% FIRST MORTGAGE BOND, 
 SERIES JJJ, DUE 2021 
  

			
	No.     	 	$         
		 	CUSIP No. 797440 BN3
		 	ISIN No. US797440BN35

 SAN DIEGO GAS & ELECTRIC COMPANY, a corporation organized and existing under the laws of the
State of California (hereinafter called the “Company”, which term shall include any successor corporation, as defined in the Indenture hereinafter referred to), for value received, hereby promises to pay to
                     [If this bond is issued as a global security, insert CEDE & CO. in the foregoing space] or registered assigns, the
principal sum of          dollars in lawful money of the United States of America, on the fifteenth day of August, 2021, and to pay interest thereon from the date of this bond, at the rate of 3.00% per
annum in like lawful money, payable semi-annually, on the fifteenth day of February and August (each, an “Interest Payment Date”) in each year, to the holder of record of this bond on the immediately preceding first day of February and
August, respectively, commencing February 15, 2012, until the Corporation’s obligation with respect to the payment of such principal (and premium, if any) shall be discharged as provided in the Indenture hereinafter mentioned. The
principal of (and premium, if any) and interest on this bond will be paid at the corporate trust office of U.S. Bank National Association, or its successor trustee under said Indenture, in the City and County of San Francisco, State of California
[if this bond is a definitive bond, insert: “, or at the office or agency in the Borough of Manhattan, City and County of New York, State of New York, that the Corporation maintains for such purpose”]. Notwithstanding the foregoing, so
long as the holder of this bond is a depositary, or its nominee, payment of the principal of (and premium, if any) and interest on this bond will be made by wire transfer of immediately available funds. 

The provisions of this bond are continued following the signature blocks below and such continued provisions shall for all purposes have
the same effect as though fully set forth at this place. 
 This bond shall not be valid or become obligatory for any purpose
unless and until U.S. BANK NATIONAL ASSOCIATION, as Trustee under the Indenture, as amended, or its successor thereunder, shall have signed the certificate of authentication endorsed hereon. 

  
 A-1

 IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this instrument to
be executed in its name by the signature or facsimile signature of its President or any Vice President and its corporate seal, or a facsimile thereof to be hereto affixed and attested by the signature or facsimile signature of its Secretary or any
Assistant Secretary. 
  

							
	Dated:                     	 		 	SAN DIEGO GAS & ELECTRIC COMPANY
				
		 		 	By:	 	 
		 		 	President or Vice President
				
	(CORPORATE SEAL)	 		 		 	
				
	Attest:	 		 		 	
				
	  
	 		 		 	
	Secretary or Assistant Secretary	 		 		 	

  
 A-2

 [REVERSE SIDE OF 3.00% FIRST MORTGAGE BOND, SERIES JJJ, DUE 2021] 

This bond is one of a duly authorized issue of bonds of the Company, known as its First Mortgage Bonds, of the series and designation
indicated on the face hereof (the “Series JJJ Bonds”), all issued and to be issued under and equally secured by a Mortgage and Deed of Trust dated July 1, 1940, and indentures supplemental thereto, including the Fifty-Eighth
Supplemental Indenture dated as of August 18, 2011 (which Mortgage and Deed of Trust, as so supplemented and as the same may be further amended or supplemented from time to time, is herein called the “Indenture”) executed by
the Company to U.S. Bank National Association, as Trustee (herein called the “Trustee”), to which Indenture reference is hereby made for a description of the property mortgaged, pledged, hypothecated and in which a security interest
was granted, the nature and extent of the security, the rights of the holders of the Series JJJ Bonds as to such security, and the terms and conditions upon which the Series JJJ Bonds may be issued under the Indenture and are secured. The principal
hereof may be declared or may become due on the conditions, in the manner and at the time set forth in the Indenture, upon the happening of a completed default as in the Indenture provided. 

Interest on the Series JJJ Bonds will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 

With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the
Company or of the holders of the Series JJJ Bonds, or the terms and provisions of the Indenture or of any indentures supplemental thereto, may be modified or altered by the affirmative vote of the holders of the percentage of principal amount of
bonds required by the Indenture; provided, however, that without the consent of the holder hereof no such modification or alteration shall permit, among other things, the reduction of the principal or the extension of the maturity of
the principal of this bond, or the reduction of the rate of interest hereon, or any other modification of the terms of payment of such principal or interest. 
 The Company, the Trustee, any paying agent, any registrar, and any depositary may deem and treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving
payment of or on account of the principal hereof and interest hereon and for all other purposes and shall not be affected by any notice to the contrary. 
 All or a portion of the Series JJJ Bonds may be redeemed at the Company’s option at any time or from time to time pursuant to this paragraph. The price at which the Series JJJ Bonds will be redeemed
pursuant to this paragraph (the “Redemption Price”) on the date fixed for such redemption (the “Redemption Date”) will be equal to the greater of the following amounts: (a) 100% of the principal amount of the
Series JJJ Bonds being redeemed on the Redemption Date; or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the Series JJJ Bonds being redeemed on that Redemption Date (not including any portion
of any payments of accrued and unpaid interest to the Redemption Date) discounted to the Redemption Date on a semiannual basis at the Adjusted Treasury Rate (as defined below) plus 15 basis points, as determined by the Independent Investment Banker
(as defined below), plus, in each case, accrued and unpaid interest thereon to the Redemption Date. Notwithstanding the foregoing, installments of interest on Series JJJ Bonds that are due and payable on Interest Payment Dates falling on or prior to
a Redemption Date will be payable on those Interest Payment Dates to the registered holders of such Series JJJ Bonds as of the close of business on the relevant record dates according to the terms of the Series JJJ Bonds and the Indenture. The
Redemption Price will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 Notice of any
redemption will be mailed at least 30 days, but not more than 60 days, before the Redemption Date to each registered holder of the Series JJJ Bonds to be redeemed. Once notice of redemption is mailed, the Series JJJ Bonds called for redemption will
become due and payable on the Redemption Date and at the applicable Redemption Price, plus accrued and unpaid interest to the Redemption Date. Redemption will not be conditional upon receipt by the Trustee of monies sufficient to pay the Redemption
Price. 
 Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date interest will cease
to accrue on the Series JJJ Bonds or portions thereof called for redemption. The Company will pay the Redemption Price and any accrued interest once the Series JJJ Bonds are surrendered for redemption. If only a portion of any Series JJJ Bonds is
redeemed, the Trustee will deliver new Series JJJ Bonds for the remaining portion without charge. 

  
 A-3

 “Adjusted Treasury Rate” means, with respect to any Redemption Date, the
rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date. 
 “Comparable Treasury Issue” means, with respect to any Redemption Date, the United
States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Series JJJ Bonds to be redeemed on such Redemption Date that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Series JJJ Bonds. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, or (B) if only one
Reference Treasury Dealer Quotation is received, such quotation. 
 “Independent Investment Banker” means, with
respect to any Redemption Date, one of the Reference Treasury Dealers appointed by the Company to act as the “Independent Investment Banker.” 
 “Reference Treasury Dealer” means, with respect to any Redemption Date, (A) Deutsche Bank Securities Inc., RBC Capital Markets, LLC, UBS Securities LLC and a Primary Treasury Dealer
(as defined below) selected by CastleOak Securities, L.P. (or their respective affiliates which are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary
U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer; and (B) any other Primary Treasury Dealer(s) selected by the Company.

 “Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury
Dealer at 5:00 p.m. (New York City time) on the third business day preceding such Redemption Date. As used in the preceding sentence, “business day” means any day (other than a Saturday or Sunday) on which banking institutions in The City
of New York are not authorized or obligated by law or executive order to remain closed. 
 In the event that the Company elects
to redeem only a portion of the Series JJJ Bonds, the bonds to be redeemed shall be selected in accordance with the procedures of The Depository Trust Company, in the case of bonds represented by a global security, or by the Trustee by a method the
Trustee deems to be fair and appropriate, in the case of bonds that are not represented by a global security. 
 As more fully
provided in and subject to the provisions of the Indenture, the Series JJJ Bonds are also subject to redemption on any date, under certain circumstances specified in Section 13 of Article XI of the Indenture in case of the disposition or taking
of certain properties of the Company, at 100% of the principal amount thereof, together with accrued interest thereon. 
 This
bond is transferable as prescribed in the Indenture by the registered owner hereof in person, or by his duty authorized attorney, at the corporate trust office of the Trustee in the City and County of San Francisco, State of California, upon
surrender and cancellation of this bond and thereupon a new registered bond of the same series and principal amount will be issued to the transferee in exchange therefor as provided in the Indenture, upon payment of any tax or taxes or other
governmental charges required to be paid by the Company by reason of such transfer. 
 The registered owner of any Series JJJ
Bond, at the option of such holder, may surrender the same, accompanied by a written instrument of transfer in form approved by the Company duly executed by the registered owner, at the corporate trust office of the Trustee in the City and County of
San Francisco, State of California, for 

  
 A-4

 
cancellation in exchange for another or other registered bonds of the said series of higher or lower authorized denominations of an aggregate principal amount equal to the aggregate principal
amount of the bond or bonds so surrendered and bearing interest as provided in Section 9 of Article II of the Indenture, and upon payment of any tax or taxes or other governmental charges required to be paid by the Company by reason of such
exchange and subject to the terms and conditions specified in the Indenture, thereupon the Company shall execute and deliver to the Trustee and the Trustee shall authenticate and deliver such other bonds to such registered owner at its office or at
such agency of the Company, at the option of such registered owner. 
 No recourse shall be had for the payment of the principal
of (or premium, if any) or the interest on this bond, or any part thereof, or of any claim based herein or in respect hereof or of said Indenture, against any incorporator, or any past or future stockholder, officer or director, as such, of the
Company or of any predecessor or successor corporation, either directly or through the Company, or through any such predecessor or successor corporation, or through any receiver or a trustee in bankruptcy, whether by virtue of any constitution,
statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released, as more fully provided
in the Indenture. 
 ************** 
 This bond is one of the bonds of the series designated therein, described in the within-mentioned Indenture. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 As Trustee

		
	By	 	  

	Authorized Officer
	
	Date of Authentication :                     

  
 A-5Indenture

 Exhibit 4.1 

 
  

 
 BUCCANEER MERGER SUB, INC.,

 as Issuer 
 9.125% Senior Notes due 2019 
  

 
 INDENTURE

 Dated as of December 22, 2010 
  

 
 WILMINGTON TRUST
FSB, 
 as Trustee 
  

 
  

 CROSS-REFERENCE TABLE 

 

			
	TIA Section	  	Indenture Section
		
	 303
	  	1.4
	 310 (a)(1)
	  	7.9
	        (a)(2)
	  	7.9
	        (a)(3)
	  	N.A.
	        (a)(4)
	  	N.A.
	        (a)(5)
	  	7.9
	        (b)
	  	7.9
	        (c)
	  	N.A.
	 311 (a)
	  	7.11
	        (b)
	  	7.11
	        (c)
	  	N.A.
	 312 (a)
	  	2.5
	        (b)
	  	12.17
	        (c)
	  	12.17
	 313 (a)
	  	7.12
	        (b)
	  	7.12
	        (b)(1)
	  	7.12
	        (b)(2)
	  	7.12
	        (c)
	  	7.12; 12.1
	        (d)
	  	7.12
	 314 (a)
	  	3.12; 12.3
	        (a)(4)
	  	3.12
	        (b)
	  	N.A.
	        (c)(1)
	  	12.2
	        (c)(2)
	  	12.2
	        (c)(3)
	  	N.A.
	        (d)
	  	N.A.
	        (e)
	  	12.2; 12.3
	        (f)
	  	N.A.
	 315 (a)
	  	7.1(b); 7.2
	        (b)
	  	7.5; 12.1
	        (c)
	  	7.1(a)
	        (d)
	  	7.1(c)
	        (e)
	  	6.11
	 316 (a) (last sentence)
	  	2.9
	        (a)(1)(A)
	  	6.5
	        (a)(1)(B)
	  	6.4
	        (a)(2)
	  	N.A.
	        (b)
	  	6.7
	        (c)
	  	2.14
	 317 (a)(1)
	  	6.8
	        (a)(2)
	  	6.9
	        (b)
	  	2.4
	 318 (a)
	  	12.16
	        (c)
	  	12.16

 N.A. means Not Applicable. 
 Note: This Cross-Reference Table shall not, for any purposes, be deemed to be part hereof. 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	 ARTICLE I
 Definitions and Incorporation by Reference
	   

  

			
	 SECTION 1.1.
	  	Definitions	  	 	1	  
	 SECTION 1.2.
	  	Other Definitions	  	 	33	  
	 SECTION 1.3.
	  	Rules of Construction	  	 	34	  
	 SECTION 1.4.
	  	Incorporation by Reference of Trust Indenture Act	  	 	35	  
	
	 ARTICLE II
 The Notes
	   

  

			
	 SECTION 2.1.
	  	Form and Dating	  	 	35	  
	 SECTION 2.2.
	  	Form of Execution and Authentication	  	 	38	  
	 SECTION 2.3.
	  	Registrar and Paying Agent	  	 	39	  
	 SECTION 2.4.
	  	Paying Agent to Hold Money in Trust	  	 	39	  
	 SECTION 2.5.
	  	Lists of Holders of the Notes	  	 	40	  
	 SECTION 2.6.
	  	Transfer and Exchange	  	 	40	  
	 SECTION 2.7.
	  	Replacement Notes	  	 	51	  
	 SECTION 2.8.
	  	Outstanding Notes	  	 	51	  
	 SECTION 2.9.
	  	Treasury Notes	  	 	51	  
	 SECTION 2.10.
	  	Temporary Notes	  	 	52	  
	 SECTION 2.11.
	  	Cancellation	  	 	52	  
	 SECTION 2.12.
	  	Payment of Interest; Defaulted Interest	  	 	52	  
	 SECTION 2.13.
	  	CUSIP Numbers	  	 	53	  
	 SECTION 2.14.
	  	Record Date	  	 	53	  
	
	 ARTICLE III
 Covenants
	   

  

			
	 SECTION 3.1.
	  	Payment of Notes	  	 	53	  
	 SECTION 3.2.
	  	Reports and Other Information	  	 	54	  
	 SECTION 3.3.
	  	 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock
	  	 	56	  
	 SECTION 3.4.
	  	Limitation on Restricted Payments	  	 	61	  
	 SECTION 3.5.
	  	Liens	  	 	68	  
	 SECTION 3.6.
	  	Dividend and Other Payment Restrictions Affecting Subsidiaries	  	 	69	  
	 SECTION 3.7.
	  	Asset Sales	  	 	71	  
	 SECTION 3.8.
	  	Transactions with Affiliates	  	 	73	  
	 SECTION 3.9.
	  	Change of Control	  	 	76	  
	 SECTION 3.10.
	  	Maintenance of Insurance	  	 	77	  
	 SECTION 3.11.
	  	Additional Guarantors	  	 	78	  
	 SECTION 3.12.
	  	Compliance Certificate; Statement by Officers as to Default	  	 	78	  
	 SECTION 3.13.
	  	Limitation on Layering	  	 	78	  
	 SECTION 3.14.
	  	Designation of Restricted and Unrestricted Subsidiaries	  	 	78	  
	 SECTION 3.15.
	  	Covenant Suspension	  	 	79	  

  
 -i-

							
	 	  	 	  	Page	 
			
	 SECTION 3.16.
	  	Stay, Extension and Usury Laws	  	 	80	  
	
	 ARTICLE IV
 Merger; Consolidation or Sale of Assets
	   

  

			
	 SECTION 4.1.
	  	When the Issuer or Holdings May Merge or Otherwise Dispose of Assets	  	 	80	  
	
	 ARTICLE V
 Redemption of Notes
	   

  

			
	 SECTION 5.1.
	  	Optional Redemption	  	 	82	  
	 SECTION 5.2.
	  	Election to Redeem; Notice to Trustee of Optional and Mandatory Redemptions	  	 	83	  
	 SECTION 5.3.
	  	Selection by Trustee of Notes to Be Redeemed	  	 	83	  
	 SECTION 5.4.
	  	Notice of Redemption	  	 	83	  
	 SECTION 5.5.
	  	Deposit of Redemption Price	  	 	84	  
	 SECTION 5.6.
	  	Notes Payable on Redemption Date	  	 	84	  
	 SECTION 5.7.
	  	Notes Redeemed in Part	  	 	85	  
	 SECTION 5.8.
	  	Offer to Repurchase	  	 	85	  
	 SECTION 5.9.
	  	Escrow of Proceeds; Special Mandatory Redemption	  	 	87	  
	
	 ARTICLE VI
 Defaults and Remedies
	   

  

			
	 SECTION 6.1.
	  	Events of Default	  	 	87	  
	 SECTION 6.2.
	  	Acceleration	  	 	89	  
	 SECTION 6.3.
	  	Other Remedies	  	 	89	  
	 SECTION 6.4.
	  	Waiver of Past Defaults	  	 	89	  
	 SECTION 6.5.
	  	Control by Majority	  	 	90	  
	 SECTION 6.6.
	  	Limitation on Suits	  	 	90	  
	 SECTION 6.7.
	  	Rights of Holders to Receive Payment	  	 	90	  
	 SECTION 6.8.
	  	Collection Suit by Trustee	  	 	90	  
	 SECTION 6.9.
	  	Trustee May File Proofs of Claim	  	 	91	  
	 SECTION 6.10.
	  	Priorities	  	 	91	  
	 SECTION 6.11.
	  	Undertaking for Costs	  	 	91	  
	
	 ARTICLE VII
 Trustee
	   

  

			
	 SECTION 7.1.
	  	Duties of Trustee	  	 	92	  
	 SECTION 7.2.
	  	Rights of Trustee	  	 	93	  
	 SECTION 7.3.
	  	Individual Rights of Trustee	  	 	94	  
	 SECTION 7.4.
	  	Disclaimer	  	 	94	  
	 SECTION 7.5.
	  	Notice of Defaults	  	 	95	  
	 SECTION 7.6.
	  	Compensation and Indemnity	  	 	95	  
	 SECTION 7.7.
	  	Replacement of Trustee	  	 	95	  
	 SECTION 7.8.
	  	Successor Trustee by Merger	  	 	96	  
	 SECTION 7.9.
	  	Eligibility; Disqualification	  	 	96	  
	 SECTION 7.10.
	  	Limitation on Duty of Trustee	  	 	97	  

  
 -ii-

							
	 	  	 	  	Page	 
			
	 SECTION 7.11.
	  	Preferential Collection of Claims Against the Issuer	  	 	97	  
	 SECTION 7.12.
	  	Reports by Trustee to Holders of the Notes	  	 	97	  
	
	 ARTICLE VIII
 Discharge of Indenture; Defeasance
	   

  

			
	 SECTION 8.1.
	  	Discharge of Liability on Securities; Defeasance	  	 	97	  
	 SECTION 8.2.
	  	Conditions to Defeasance	  	 	98	  
	 SECTION 8.3.
	  	Application of Trust Money	  	 	99	  
	 SECTION 8.4.
	  	Repayment to Issuer	  	 	99	  
	 SECTION 8.5.
	  	Indemnity for U.S. Government Obligations	  	 	100	  
	 SECTION 8.6.
	  	Reinstatement	  	 	100	  
	
	 ARTICLE IX
 Amendments
	   

  

			
	 SECTION 9.1.
	  	Without Consent of Holders	  	 	100	  
	 SECTION 9.2.
	  	With Consent of Holders	  	 	101	  
	 SECTION 9.3.
	  	Effect of Consents and Waivers	  	 	102	  
	 SECTION 9.4.
	  	Notation on or Exchange of Notes	  	 	102	  
	 SECTION 9.5.
	  	Trustee To Sign Amendments	  	 	102	  
	 SECTION 9.6.
	  	Compliance with Trust Indenture Act	  	 	103	  
	
	 ARTICLE X
 Guarantees
	   

  

			
	 SECTION 10.1.
	  	Guarantees	  	 	103	  
	 SECTION 10.2.
	  	Limitation on Liability; Termination, Release and Discharge	  	 	104	  
	 SECTION 10.3.
	  	Right of Contribution	  	 	105	  
	 SECTION 10.4.
	  	No Subrogation	  	 	106	  
	 SECTION 10.5.
	  	Limitations on Merger	  	 	106	  
	
	 ARTICLE XI
 INTENTIONALLY OMITTED
	   

  

	
	 ARTICLE XII
 Miscellaneous
	   

  

			
	 SECTION 12.1.
	  	Notices	  	 	107	  
	 SECTION 12.2.
	  	Certificate and Opinion as to Conditions Precedent	  	 	108	  
	 SECTION 12.3.
	  	Statements Required in Certificate or Opinion	  	 	108	  
	 SECTION 12.4.
	  	[Reserved]	  	 	108	  
	 SECTION 12.5.
	  	Rules by Trustee, Paying Agent and Registrar	  	 	108	  
	 SECTION 12.6.
	  	Days Other than Business Days	  	 	109	  
	 SECTION 12.7.
	  	Governing Law	  	 	109	  
	 SECTION 12.8.
	  	Waiver of Jury Trial	  	 	109	  
	 SECTION 12.9.
	  	No Recourse Against Others	  	 	109	  
	 SECTION 12.10.
	  	Successors	  	 	109	  

  
 -iii-

							
	 	  	 	  	Page	 
	 SECTION 12.11.
	  	Multiple Originals	  	 	109	  
	 SECTION 12.12.
	  	Variable Provisions	  	 	109	  
	 SECTION 12.13.
	  	Table of Contents; Headings	  	 	109	  
	 SECTION 12.14.
	  	Force Majeure	  	 	109	  
	 SECTION 12.15.
	  	USA Patriot Act	  	 	110	  
	 SECTION 12.16.
	  	Trust Indenture Act Controls	  	 	110	  
	 SECTION 12.17.
	  	Communication by Holders of Notes with Other Holders of Notes	  	 	110	  

 EXHIBITS 
  

			
	 EXHIBIT A
	  	Form of Note
	 EXHIBIT B
	  	Form of Certificate of Transfer
	 EXHIBIT C
	  	Form of Certificate of Exchange
	 EXHIBIT D
	  	Form of Guaranty
	 EXHIBIT E
	  	Form of Certificate to Be Delivered in Connection with Transfers to Institutional Accredited Investors
	 EXHIBIT F
	  	Form of Supplemental Indenture

  
 -iv-

 INDENTURE, dated as of December 22, 2010, as amended or supplemented from time to time
(this “Indenture”), between BUCCANEER MERGER SUB, INC., a corporation duly organized and existing under the laws of the State of Delaware (“Buccaneer” or “Issuer”) and Wilmington Trust FSB, as
trustee (in such capacity, the “Trustee”). 
 Recitals of the Issuer 

Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders (as defined
herein) of the Notes (as defined herein): 
 ARTICLE I 
 Definitions and Incorporation by Reference 
 SECTION 1.1.
Definitions. 
 “144A Global Note” means a global note substantially in the form of Exhibit A
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that shall be issued in a denomination equal to the outstanding principal amount
of the Notes sold in reliance on Rule 144A. 
 “Acquired Indebtedness” means, with respect to any specified
Person: 
 (1) Indebtedness of any other Person existing at the time such other Person is merged with or into or
became a Restricted Subsidiary of such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Subsidiary of, such specified Person; and

 (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Acquisition Date” means the date on which the Escrowed Funds are released by the Escrow Agent pursuant to the Escrow
Agreement. 
 “Additional Interest” means all additional interest then owing pursuant to the Registration
Rights Agreement. 
 “Affiliate” of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled
by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent,
co-registrar or additional paying agent. 
 “Applicable Premium” means, with respect to any Note on any
applicable Redemption Date, the greater of: 
 (1) 1.0% of the then outstanding principal amount of such Note;
and 

 (2) the excess of (a) the present value at such Redemption Date of
(i) the redemption price of the Note at January 15, 2015 as set forth in Section 5.1(a), plus (ii) all required interest payments due on such Note through January 15, 2015 (excluding accrued but unpaid interest to the
Redemption Date), computed using a discount rate equal to the Treasury Rate as of such Redemption Date, plus 50 basis points; over (b) the then outstanding principal amount of such Note. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 

“Asset Sale” means: 
 (1) the 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/Leaseback Transaction) of
the Issuer or any Restricted Subsidiary of the Issuer (each referred to in this definition as a “disposition”) or 
 (2) the issuance or sale of Equity Interests (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or other third parties to the extent required by
applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary of the Issuer) (whether in a single transaction or a series of related transactions), 
 in each case other than: 
 (a) a sale, exchange or other
disposition of Cash Equivalents or Investment Grade Securities or obsolete, damaged, unnecessary, unsuitable or worn out equipment in the ordinary course of business; 

(b) the sale, conveyance, lease or other disposition of all or substantially all of the assets of the Issuer in compliance
with Section 4.1 or any disposition that constitutes a Change of Control; 
 (c) any Restricted
Payment or Permitted Investment that is permitted to be made, and is made, under Section 3.4; 
 (d)
any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary, in a single transaction or series of related transactions, with an aggregate Fair Market Value of less than $20.0 million; 

(e) any transfer or disposition of property or assets by a Restricted Subsidiary of the Issuer to the Issuer or by the
Issuer or a Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the Issuer; 
 (f) the creation of
any Lien permitted under this Indenture; 
 (g) any issuance or sale of Equity Interests in, or Indebtedness or
other securities of, an Unrestricted Subsidiary; 

  
 -2-

 (h) the sale, lease, assignment, license or sublease of inventory,
equipment, accounts receivable or other current assets held for sale in the ordinary course of business and not in connection with any financing transaction; 
 (i) the lease, assignment or sublease of any real or personal property in the ordinary course of business; 
 (j) a sale of accounts receivable and related assets of the type specified in the definition of “Receivables Financing” to a Receivables Subsidiary in a Qualified Receivables Financing or in a
factoring or other similar transaction; 
 (k) a transfer of accounts receivable and related assets of the type
specified in the definition of “Receivables Financing” (or a fractional undivided interest therein) by a Receivables Subsidiary in a Qualified Receivables Financing; 

(l) any exchange of assets for Related Business Assets (including a combination of Related Business Assets and a de
minimis amount of cash or Cash Equivalents) of comparable or greater market value, as determined in good faith by the Issuer, which in the event of an exchange of assets with a Fair Market Value in excess of (1) $20.0 million shall be evidenced
by an Officer’s Certificate, and (2) $40.0 million shall be set forth in a resolution approved in good faith by at least a majority of the Board of Directors of the Issuer; 

(m) the grant in the ordinary course of business of any license or sub-license of patents, trademarks, know-how and any
other intellectual property; 
 (n) the sale in a Sale/Leaseback Transaction of any property acquired after the
Issue Date within twelve months of the acquisition of such property; 
 (o) the surrender or waiver of contract
rights or settlement, release or surrender of a contract, tort or other litigation claim in the ordinary course of business; and 
 (p) foreclosures, condemnations or any similar action on assets not prohibited by this Indenture. 
 “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law for the relief of debtors. 

“Board of Directors” means as to any Person, the board of directors or managers, sole member or managing member, as
applicable, of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. 

“Broker-Dealer” means any broker or dealer, in either case, that is registered under the Exchange Act. 

“Buccaneer” has the meaning set forth in the preamble hereto. 

“Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or
required by law to close in New York City. 

  
 -3-

 “Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability
company, partnership or membership interests (whether general or limited); and 
 (4) any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
 “Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to
be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP. 

“Cash Contribution Amount” means the aggregate amount of cash contributions made to the capital of the Issuer or any
Guarantor and designated as a “Cash Contribution Amount” as described in the definition of “Contribution Indebtedness.” 
 “Cash Equivalents” means: 
 (1) U.S. Dollars,
pounds sterling, euros or the national currency of any participating member state of the European Union; 
 (2)
securities issued or directly and fully guaranteed or insured by the government of the United States or any country that is a member of the European Union or any agency or instrumentality thereof in each case with maturities not exceeding two years
from the date of acquisition; 
 (3) certificates of deposit, time deposits and eurodollar time deposits with
maturities of one year or less from the date of acquisition, bankers’ acceptances, in each case with maturities not exceeding one year, and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of
$500 million, or the foreign currency equivalent thereof, and whose long-term debt is rated “A” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency);

 (4) repurchase obligations for underlying securities of the types described in clauses (2) and
(3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 
 (5) commercial paper issued by a corporation (other than an Affiliate of the Issuer) rated at least “A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings
of another internationally recognized ratings agency) and in each case maturing within one year after the date of acquisition; 

  
 -4-

 (6) readily marketable direct obligations issued by any state of the United
States of America or any political subdivision thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) in each
case with maturities not exceeding two years from the date of acquisition; 
 (7) Indebtedness issued by Persons
(other than the Sponsor) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s in each case with maturities not exceeding two years from the date of acquisition; 

(8) investment funds investing at least 95% of their assets in securities of the types described in clauses
(1) through (6) above; and 
 (9) in the case of Investments by any Restricted Subsidiary that is a
Foreign Subsidiary, (x) such local currencies in those countries in which such Foreign Subsidiary transacts business from time to time in the ordinary course of business and (y) Investments of comparable tenor and credit quality to those
described in the foregoing clauses (1) through (8) customarily utilized in countries in which such Foreign Subsidiary operates for short-term cash management purposes. 

“Change of Control” means the occurrence of any of the following: 

(1) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all the assets of the
Issuer and its Subsidiaries, taken as a whole, to a Person other than one or more of the Permitted Holders; or 

(2) Holdings becomes aware of the acquisition by any Person or group (within the meaning of Section 13(d)(3) or
Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than any of
the Permitted Holders, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase of Equity Interests or otherwise, of beneficial ownership (within the meaning of Rule
13d-3 under the Exchange Act, or any successor provision, except that a Person shall be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, by conversion or exercise of other securities,
whether such right is exercisable immediately or only after the passage of time), of Voting Stock of the Issuer representing 50% or more of the total voting power of the Voting Stock of the Issuer. 

“Clearstream” means Clearstream Banking, Société Anonyme. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

“Company Order” means a written request or order signed in the name of the Issuer by any Officer. 

  
 -5-

 “Consolidated Interest Expense” means, with respect to any Person for any
period, the sum, without duplication, of: 
 (1) interest expense of such Person and its Restricted Subsidiaries
for such period, on a consolidated basis, to the extent such expense was deducted in computing Consolidated Net Income (including amortization of original issue discount, the interest component of Capitalized Lease Obligations, and net payments and
receipts (if any) pursuant to interest rate Hedging Obligations and excluding amortization of deferred financing fees and expensing of any bridge or other financing fees, the non-cash portion of interest expense resulting from the reduction in the
carrying value under purchase accounting of the Issuer’s outstanding Indebtedness and commissions, discounts, yield and other fees and charges (including any interest expense) related to any Receivables Financing); 

(2) interest on Indebtedness described in Section 3.4(b)(xiii)(b) (to the extent not already included in
clause (1) above); and 
 (3) consolidated capitalized interest of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued; 
 less interest income for such period; 

provided that, for purposes of calculating Consolidated Interest Expense, no effect shall be given to the discount and/or premium resulting from
the bifurcation of derivatives under FASB ASC 815 and related interpretations as a result of the terms of the Indebtedness to which such Consolidated Interest Expense relates. 
 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 aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; provided, however, that: 

(1) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income or expenses (including the effect
of all fees and expenses relating thereto), including, without limitation, any fees, expenses, charges or payments made under or contemplated by the Merger Agreement or otherwise related to the Transactions, shall be excluded; 

(2) the Net Income for such period shall not include the cumulative effect of a change in accounting principles during
such period; 
 (3) any net after-tax gains or losses on disposal of discontinued operations shall be excluded;

 (4) any net after-tax gains or losses (including the effect of all fees and expenses or charges relating
thereto) attributable to business dispositions (including Capital Stock of any Person) or asset dispositions or abandonments other than in the ordinary course of business (as determined in good faith by the Issuer) shall be excluded; 

(5) any net after-tax gains or losses (including the effect of all fees and expenses or charges relating thereto)
attributable to the early extinguishment of Indebtedness, Hedging Obligations and other derivative instruments shall be excluded; 

  
 -6-

 (6) the Net Income for such period of any Person that is not a Subsidiary of
such Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting (other than a Guarantor), shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or
to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; 
 (7) solely for the purpose of determining the amount available for Restricted Payments under Section 3.4(a)(C)(1), the Net Income for such period of any Restricted Subsidiary (other than any
Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval
(which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its
stockholders, unless all such restrictions with respect to the payment of dividends or similar distributions have been legally waived; provided that (x) the net loss of any such Restricted Subsidiary shall be included therein and
(y) the Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent
not already included therein; 
 (8) any non-cash compensation expense realized from employee benefit plans or
post-employment benefit plans, grants of stock appreciation or similar rights, stock options or other rights to officers, directors and employees of such Person or any of its Restricted Subsidiaries shall be excluded; 

(9) (a) (i) the non-cash portion of “straight-line” rent expense shall be excluded and (ii) the
cash portion of “straight-line” rent expense that exceeds the amount expensed in respect of such rent expense shall be included and (b) non-cash gains, losses, income and expenses resulting from fair value accounting required by FASB
ASC 815 shall be excluded; 
 (10) unrealized gains and losses relating to hedging transactions and
mark-to-market of Indebtedness denominated in foreign currencies resulting from the application of FASB ASC 830 shall be excluded; 
 (11) any (a) severance or relocation costs or expenses, (b) one-time non-cash compensation charges, (c) costs and expenses after the Acquisition Date related to employment of terminated
employees, or (d) costs or expenses realized in connection with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Acquisition Date of officers, directors and employees, in each case of such
Person or any of its Restricted Subsidiaries, shall be excluded; 
 (12) accruals and reserves, contingent
liabilities and any gains and losses on the settlement of any pre-existing contractual or non-contractual relationships as a result of the Transactions that are established or adjusted within 12 months after the Acquisition Date and that are so
required to be established or adjusted in accordance with GAAP or as a result of adoption or modification of accounting policies shall be excluded; 

  
 -7-

 (13) the effect of any non-cash impairment charges or write-ups, write-downs
or write-offs of assets (including intangible assets, goodwill and deferred financing costs but excluding accounts receivable) or liabilities resulting from the application of GAAP (including in connection with the Transactions) and the amortization
of intangibles arising from the application of GAAP (excluding any non-cash item to the extent that it represents an accrual of or reserve for cash expenditures in any future period except to the extent such item is subsequently reversed) shall be
excluded; and 
 (14) any fees and expenses incurred during such period, or any amortization thereof for such
period, in connection with any acquisition, Investment, Asset Sale, issuance or repayment of Indebtedness, issuance of Equity Interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such
transaction consummated prior to the Acquisition 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 shall be excluded. 

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 the amount of proceeds actually received from business interruption insurance and reimbursements of any expenses and charges pursuant to indemnification
or other reimbursement provisions in connection with any Permitted Investment or any sale, conveyance, transfer or other disposition of assets permitted under this Indenture. 
 Notwithstanding the foregoing, for the purpose of Section 3.4 only, there shall be excluded from Consolidated Net Income any dividends, repayments of loans or advances or other transfers of
assets from Unrestricted Subsidiaries of the Issuer or a Restricted Subsidiary of the Issuer to the extent such dividends, repayments or transfers increase the amount of Restricted Payments permitted under Section 3.4(a)(C)(5) or
(6). 
 “Consolidated Non-cash Charges” means, with respect to any Person for any period, the aggregate
depreciation, amortization (including amortization of intangibles but excluding amortization of prepaid cash expenses that were paid in a prior period), impairment, compensation, rent and other non-cash expenses of such Person and its Restricted
Subsidiaries reducing Consolidated Net Income of such Person for such period on a consolidated basis and otherwise determined in accordance with GAAP; provided that if any non-cash charges referred to in this definition represent an accrual
or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from EBITDA in such future period to such extent paid. 

“Consolidated Senior Secured Debt Ratio” as of any date of determination means the ratio of
(1) (x) Consolidated Total Indebtedness of the Issuer and its Restricted Subsidiaries that is secured by a Lien as of the end of the most recent fiscal period for which internal financial statements are available immediately preceding the
date on which such event for which such calculation is being made shall occur minus (y) the amount of unrestricted cash and Cash Equivalents that would be stated on the balance sheet of the Issuer and the Restricted Subsidiaries and held by the
Issuer and the Restricted Subsidiaries as of such date of determination; provided that any cash and Cash Equivalents attributable to Foreign Subsidiaries shall be calculated net of any reasonably anticipated repatriation costs and expenses of
domesticating such cash and Cash Equivalents from such Foreign Subsidiaries as determined by the Issuer in good faith, to (2) the EBITDA of the Issuer and its Restricted Subsidiaries for the most recently ended four full fiscal quarters for
which internal financial statements are available immediately preceding the date on which such event for which such calculation is being made shall occur, in each case, with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as
are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Fixed Charge Coverage Ratio.” 

  
 -8-

 “Consolidated Taxes” means, with respect to any Person and its Restricted
Subsidiaries on a consolidated basis for any period, provision for taxes based on income, profits or capital, including, without limitation, state franchise and similar taxes, and including an amount equal to the amount of tax distributions actually
made to the holders of Capital Stock of such Person or any direct or indirect parent of such Person in respect of such period in accordance with Section 3.4(b)(xii) which shall be included as though such amounts had been paid as income
taxes directly by such Person. 
 “Consolidated Total Indebtedness” means, as of any date of determination, the
aggregate principal amount of Indebtedness of the Issuer and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis, to the extent required to be recorded on a balance sheet in accordance with GAAP, consisting of
Indebtedness for borrowed money, Capitalized Lease Obligations and debt obligations evidenced by promissory notes or similar instruments. 
 “Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness
(“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent: 

(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 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. 
 “Contribution Indebtedness” means Indebtedness of the Issuer or any Guarantor in an aggregate principal amount not greater than the aggregate amount of cash contributions (other than
Excluded Contributions) made to the capital of the Issuer or such Guarantor after the Acquisition Date and designated as a Cash Contribution Amount, provided that: 

(1) such Contribution Indebtedness shall be Indebtedness with a Stated Maturity later than the Stated Maturity of the
Notes and a Weighted Average Life to Maturity longer than the Weighted Average Life to Maturity of the Notes, and 
 (2) such Contribution Indebtedness (a) is Incurred within 210 days after the making of such cash contributions and (b) is so designated as Contribution Indebtedness pursuant to an Officer’s
Certificate on the Incurrence date thereof. 

  
 -9-

 “Corporate Trust Office” shall be at the address of the Trustee specified
in Section 12.1 or such other address as to which the Trustee may give notice to the Issuer or Holders pursuant to the procedures set forth in Section 12.1. 

“Credit Agreement” means (i) the Senior Credit Agreement and (ii) whether or not the Senior Credit Agreement
remains outstanding, if designated by the Issuer to be included in the definition of “Credit Agreement,” one or more (A) debt facilities, indentures or commercial paper facilities providing for revolving credit loans, term loans,
notes, debentures, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B) debt securities, indentures or other
forms of debt financing (including convertible or exchangeable debt instruments or bank guarantees or bankers’ acceptances), or (C) instruments or agreements evidencing any other Indebtedness, in each case, with the same or different
borrowers or issuers and, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, increased, replaced or refunded in whole or in part from time to time. 

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

 “Default” means any event which is, or after notice or passage of time or both would be, an Event of
Default. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued
in accordance with Section 2.6 hereof, substantially in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global
Note” attached thereto. 
 “Depositary” means The Depository Trust Company, its nominees and their
respective successors and assigns, or such other depository institution hereinafter appointed by the Issuer. 

“Designated Non-cash Consideration” means the Fair Market Value of non-cash consideration received by the Issuer or one
of its Restricted Subsidiaries in connection with an Asset Sale 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 Equivalents
received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. 
 “Designated
Preferred Stock” means Preferred Stock of the Issuer or Holdings or any other direct or indirect parent of the Issuer, as applicable (other than Excluded Equity), that is issued after the Acquisition Date for cash and is so designated as
Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date thereof, the cash proceeds of which are contributed to the capital of the Issuer (if issued by Holdings or any direct or indirect parent of the Issuer) and
excluded from the calculation set forth in Section 3.4(a)(C). 
 “Disqualified Stock” means, with
respect to any Person, any Capital Stock of such Person that, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), in each case, at the option of the holder thereof or upon the
happening of any event: 
 (1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise (other than as a result of a change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are no more favorable in any material

  
 -10-

 
respect to holders of such Capital Stock than the asset sale and change of control provisions applicable to the Notes and any purchase requirement triggered thereby may not become operative until
compliance with the asset sale and change of control provisions applicable to the Notes (including the purchase of any Notes tendered pursuant thereto)), 
 (2) is convertible or exchangeable for Indebtedness or Disqualified Stock, or 
 (3) is redeemable at the option of the holder thereof, in whole or in part, 
 in each case prior
to 91 days after the maturity date of the Notes; provided, however, that only the portion of Capital Stock that 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 shall be deemed to be Disqualified Stock; provided, further, however, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries
or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of
such employee’s termination, death or disability; provided, further, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that
is not Disqualified Stock shall not be deemed to be Disqualified Stock. 
 “Domestic Subsidiary” means a
Restricted Subsidiary that is not a Foreign Subsidiary. 
 “EBITDA” means, with respect to any Person for any
period, the Consolidated Net Income of such Person for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: 

(1) Consolidated Taxes; plus 

(2) Consolidated Interest Expense; plus 

(3) Consolidated Non-cash Charges; plus 

(4) the amount of management, monitoring, consulting and advisory fees, termination payments and related expenses paid to
the Sponsor (or any accruals relating to such fees and related expenses) during such period to the extent permitted by Section 3.8; plus 
 (5) any expenses or charges (other than Consolidated Non-cash Charges) related to any issuance of Equity Interests, Investment, acquisition, disposition, recapitalization or the Incurrence or repayment of
Indebtedness permitted to be Incurred by this Indenture (including a re-financing thereof) (whether or not successful), including (i) such fees, expenses or charges related to (x) the offering of the Notes or (y) the Transactions,
(ii) any amendment or other modification of the Notes or other Indebtedness, (iii) any additional interest in respect of the Notes and (iv) commissions, discounts, yield and other fees and charges (including any interest expense)
related to any Qualified Receivables Financing; plus 
 (6) the amount of loss on sale of receivables and
related assets to a Receivables Subsidiary in connection with a Qualified Receivables Financing; plus 

  
 -11-

 (7) the amount of any restructuring charges or reserves (which, for the
avoidance of doubt, shall include retention, severance, systems establishment cost, excess pension charges, contract termination costs, including future lease commitments, costs related to the start up, closure, relocation or consolidation of
facilities and costs to relocate employees), plus 
 (8) all adjustments of the nature used in connection
with the calculation of “Pro Forma Adjusted EBITDA” as set forth in note 4 to “Summary—Summary Historical and Un-audited Pro Forma Consolidated Financial Information” in the Offering Circular to the extent such adjustments
continue to be applicable during the period in which EBITDA is being calculated, plus  
 (9) any costs or
expense incurred pursuant to any management equity plan or stock option plan or other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs or expenses are funded with cash
proceeds contributed to the capital of the Issuer or a Guarantor or the net cash proceeds of an issuance of Equity Interests of the Issuer (other than Excluded Equity) solely to the extent that such net cash proceeds are excluded from the
calculation of the amount available for Restricted Payments under Section 3.4(a)(C)(1); plus/minus 
 (10) gains or losses due solely to fluctuations in currency values and the related tax effects, 

less, without duplication, non-cash items increasing Consolidated Net Income for such period (excluding any items that represent the reversal of
any accrual of, or cash reserve for, anticipated cash charges in any prior period). 
 “Equity Contribution”
means the cash equity contributions to the Issuer made, either directly or indirectly, by the Sponsor, members of management of Syniverse and other co-investors in order to provide the Issuer with capital, when taken together with the proceeds of
the notes and the borrowings under the Senior Credit Agreement, sufficient to consummate the Transactions on the Acquisition Date. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock). 
 “Equity Offering” means any public or private sale after the Acquisition Date of capital
stock or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable (other than Disqualified Stock), other than: 
 (1) public offerings with respect to the Issuer’s or such direct or indirect parent’s common stock registered on Form S-8; and 

(2) any such public or private sale that constitutes an Excluded Contribution or Refunding Capital Stock. 

“Escrow Agent” means Wilmington Trust FSB. 
 “Escrow Agreement” means the Escrow Agreement, dated as of the Closing Date, among the Issuer and Wilmington Trust FSB, as escrow agent. 

  
 -12-

 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear
system. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
of the SEC promulgated thereunder. 
 “Exchange Notes” means the notes issued in the Exchange Offer pursuant to
Section 2.6(i) . 
 “Exchange Offer” has the meaning set forth for such term in the Registration Rights
Agreement. 
 “Exchange Offer Registration Statement” has the meaning set forth in the Registration Rights
Agreement. 
 “Excluded Contributions” means the net cash proceeds and Cash Equivalents received by the Issuer
after the Acquisition Date from: 
 (1) contributions to its common equity capital, and 

(2) the sale of Capital Stock (other than Excluded Equity) of the Issuer, 

in each case designated as Excluded Contributions pursuant to an Officer’s Certificate executed by an Officer of the Issuer, the proceeds of which
are excluded from the calculation set forth in Section 3.4(a)(C). 
 “Excluded Equity” means
(i) Disqualified Stock, (ii) any Equity Interests issued or sold to a Restricted Subsidiary of the Issuer or any employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries (to the extent such employee stock
ownership plan or trust has been funded by the Issuer or any Restricted Subsidiary), (iii) any Equity Interest that has already been used or designated (x) as (or the proceeds of which have been used or designated as) a Cash Contribution
Amount, Designated Preferred Stock, Excluded Contribution or Refunding Capital Stock, or (y) to increase the amount available under Section 3.4(b)(iv)(a) or clause (15) of the definition of “Permitted Investments” or
is proceeds of Indebtedness referred to Section 3.4(b)(xiii)(b) and (iv) the Equity Contribution. 

“Fair Market Value” means, with respect to any asset or property, the price which could be negotiated in an
arm’s-length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction (as determined in good faith by the Issuer). 

“FASB ASC” means the Accounting Standard Codifications as promulgated by the Financial Accounting Standards Board,
including any renumbering of such standards or any successor or replacement section or sections promulgated by the Financial Accounting Standards Board. 
 “Fixed Charge Coverage Ratio” means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In
the event that the Issuer or any of its Restricted Subsidiaries Incurs or redeems or repays any Indebtedness (other than in the case of revolving credit borrowings or revolving advances under any Qualified Receivables Financing) or issues or redeems
Preferred Stock or Disqualified Stock subsequent to the 

  
 -13-

 
commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to the event for which the calculation of the Fixed Charge Coverage Ratio is made (the
“Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption or repayment of Indebtedness, or such issuance or redemption of Preferred Stock or Disqualified
Stock, as if the same had occurred at the beginning of the applicable four-quarter period. 
 For purposes of making the
computation referred to above, Investments, acquisitions, dispositions, mergers (including the Transactions), consolidations and discontinued operations, in each case with respect to an operating unit of a business, and operational changes, that the
Issuer or any of its Restricted Subsidiaries has both determined to make and made after the Acquisition Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the
Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers (including the Transactions),
consolidations, discontinued operations and operational changes (and the change of any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the
beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning of such period shall have made or effected any Investment, acquisition,
disposition, merger, consolidation or discontinued operation, in each case with respect to an operating unit of a business, or operational change 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, consolidation discontinued operation or operational change had occurred at the beginning of the applicable four-quarter
period. 
 For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma
calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. 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 Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months).
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 or a Qualified Receivables Financing computed on a pro forma basis shall be computed based upon the
average daily balance of such Indebtedness during the applicable period. 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 deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. Any such pro forma calculation may include, without limitation, (1) adjustments
calculated in accordance with Regulation S-X under the Securities Act, (2) adjustments calculated to give effect to any Pro Forma Cost Savings and (3) all adjustments of the type used in connection with the calculation of “Pro Forma
Adjusted EBITDA” as set forth in footnote (2) under the caption “Summary—Summary Historical and Unaudited Pro Forma Consolidated Financial Information” in the Offering Circular to the extent such adjustments, without
duplication, continue to be applicable to such four-quarter period. 
 “Fixed Charges” means, with respect to
any Person for any period, the sum of: 
 (1) Consolidated Interest Expense of such Person for such period, and

  
 -14-

 (2) all cash dividend payments (excluding items eliminated in consolidation)
on any series of Preferred Stock or Disqualified Stock of such Person and its Restricted Subsidiaries. 
 “Foreign
Subsidiary” means a Restricted Subsidiary not organized or existing under the laws of the United States of America or any state or territory or the District of Columbia thereof and any direct or indirect Subsidiary of such Restricted
Subsidiary. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board 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 on the Issue Date (other than with respect to reports under Section 3.2, which shall be as in effect from time to time), it being understood that for
purposes of this Indenture, all references to codified accounting standards specifically named herein shall be deemed to include any successor, replacement, amended or updated accounting standard under GAAP; provided that, at any time after
adoption of IFRS by the Issuer for its financial statements and reports for all financial reporting purposes, the Issuer may elect to apply IFRS for all purposes of this Indenture, and, upon any such election, references in this Indenture to GAAP
shall be construed to mean IFRS as in effect on the date of such election; provided that (1) any such election once made shall be irrevocable (and shall only be made once), (2) all financial statements and reports required to be provided
after such election pursuant to this Indenture shall be prepared on the basis of IFRS, (3) from and after such election, all ratios, computations and other determinations based on GAAP contained in this Indenture shall be computed in conformity
with IFRS with retroactive effect being given thereto assuming that such election had been made on the Issue Date, (4) such election shall not have the effect of rendering invalid any payment or Investment made prior to the date of such
election pursuant to Section 3.4 or any Incurrence of Indebtedness incurred prior to the date of such election pursuant to Section 3.3 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having been
able to Incur $1.00 of additional Indebtedness) if such payment, Invesment, Incurrence or other action was valid under this Indenture on the date made, Incurred or taken, as the case may be and (5) all acounting terms and references in this
Indenture to accounting standards shall be deemed to be references to the most comparable terms or standards under IFRS. The Issuer shall give notice of any election to the Trustee and the Holders of Notes within 15 days of such election. For the
avoidance of doubt, solely making an election (without any other action) referred to in this definition will not be treated as an Incurrence of Indebtedness. 
 “Global Note Legend” means the legend set forth in Section 2.1(b) hereof, which is required to be placed on all Global Notes issued under this Indenture. 

“Global Notes” means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global
Notes, substantially in the form of Exhibit A hereto issued in accordance with Section 2.1 or 2.6 hereof. 
 “guarantee” means, as to any Person, a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner
(including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 
 “Guarantee” means any guarantee of the obligations of the Issuer under this Indenture and the Notes by any Person in accordance with the provisions of this Indenture. 

  
 -15-

 “Guarantors” means each Restricted Subsidiary of the Issuer that executes
this Indenture as a Guarantor on the Issue Date and each other Restricted Subsidiary of the Issuer that Incurs a Guarantee of the Notes; provided that upon the release or discharge of such Person from its Guarantee in accordance with this
Indenture, such Person ceases to be a Guarantor. 
 “Hedging Obligations” means, with respect to any Person,
the obligations of such Person under: 
 (1) currency exchange, interest rate or commodity swap agreements,
currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and 
 (2) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates or commodity prices. 

“Holder” or “Noteholder” means the Person in whose name a Note is registered on the Registrar’s
books. 
 “Holdings” means Buccaneer Holdings, Inc. and its successors. 

“IAI Global Note” means a global note substantially in the form of Exhibit A hereto bearing the Global Note
Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that shall be issued in a denomination equal to the outstanding principal amount of the Notes resold to IAIs.

 “IAI Notes” means any Initial Notes and any Additional Notes resold to IAIs. 

“IFRS” means the International Financial Reporting Standards as issued by the International Accounting Standards Board.

 “Incur” means, with respect to any Indebtedness, Capital Stock or Lien, to issue, assume, guarantee, incur
or otherwise become liable for such Indebtedness, Capital Stock or Lien, as applicable; provided that any Indebtedness, Capital Stock or Lien of a Person existing at the time such Person becomes a Subsidiary (whether by merger, consolidation,
acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary; and provided further that any Indebtedness, Capital Stock or Lien of Syniverse Holdings Inc. or any of its Subsidiaries existing on
the Acquisition Date and not repaid, redeemed or discharged in connection with the Transactions shall be deemed to be Incurred by the Issuer on the Acquisition Date. 
 “Indebtedness” means, with respect to any Person: 

(1) the principal and premium (if any) of any Indebtedness of such Person, whether or not contingent, (a) in respect
of borrowed money, (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof), (c) representing the deferred and
unpaid purchase price of any property, except (i) any such balance that constitutes a trade payable, accrued expense or similar obligation to a trade creditor, in each case Incurred in the ordinary course of business and (ii) any earn-out
obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP, (d) in respect of Capitalized Lease Obligations, or 

  
 -16-

 
(e) representing any Hedging Obligations, if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would appear as a liability on a
balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 
 (2) to the
extent not otherwise included, any obligation of such Person to be liable for, or to pay, as obligor, guarantor or otherwise, the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary
course of business); and 
 (3) to the extent not otherwise included, Indebtedness of another Person secured by a
Lien on any asset owned by 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, and (b) the amount of such Indebtedness of such other Person; 
 provided that (a) Contingent
Obligations Incurred in the ordinary course of business and (b) obligations under or in respect of Receivables Financings shall be deemed not to constitute Indebtedness. 
 “Indenture” has the meaning set forth in the preamble hereto. 

“Independent Financial Advisor” means an accounting, appraisal or investment banking firm or consultant, in each case of
nationally recognized standing that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 
 “Initial Notes” means the $475,000,000 in aggregate principal amount of 9.125% Senior Notes due 2019 of the Issuer issued under this Indenture on the Issue Date. 

“Initial Purchasers” means Credit Suisse Securities (USA) LLC , Barclays Capital Inc., Goldman, Sachs & Co. and
such other initial purchasers party to the purchase agreement or future purchase agreements entered into in connection with an offer and sale of Notes. 
 “Interest Payment Date” means January 15 and July 15 of each year, commencing, in the case of the Initial Notes, on July 15, 2011 and ending at the Stated Maturity of the
Notes. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 
 “Investment
Grade Securities” means: 
 (1) securities issued or directly and fully guaranteed or insured by the
U.S. government or any agency or instrumentality thereof (other than Cash Equivalents) and in each case with maturities not exceeding two years from the date of acquisition, 

(2) securities that have a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB (or the
equivalent) by S&P, or an equivalent rating by any other Rating Agency, 

  
 -17-

 (3) investments in any fund that invests at least 95% of its assets in
investments of the type described in clauses (1) and (2) which fund may also hold immaterial amounts of cash pending investment and/or distribution, and 

(4) corresponding instruments in countries other than the United States customarily utilized for high quality investments
and in each case with maturities not exceeding two years from the date of acquisition. 
 “Investments” means,
with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers
and commission, travel and similar advances to officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other
Person and investments that are required by GAAP to be classified on the balance sheet of the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other
property. If the Issuer or any Restricted Subsidiary sells or otherwise disposes of any Equity Interests of any Restricted Subsidiary, or any Restricted Subsidiary issues any Equity Interests, in either case, such that, after giving effect to any
such sale or disposition, such Person is no longer a Subsidiary of the Issuer, the Issuer shall be deemed to have made an Investment on the date of any such sale or other disposition equal to the Fair Market Value of the Equity Interests of and all
other Investments in such Restricted Subsidiary retained. In no event shall a guarantee of an operating lease of the Issuer or any Restricted Subsidiary be deemed an Investment. For purposes of the definition of “Unrestricted Subsidiary”
and Section 3.4: 
 (1) “Investments” shall include the portion (proportionate to the
Issuer’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a
redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal to 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 of such Subsidiary at the time of such redesignation; and 
 (2) any property transferred to or from
an Unrestricted Subsidiary shall be valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Board of Directors of the Issuer. 

The amount of any Investment outstanding at any time shall be the original cost of such Investment (determined, in the case of any
Investment made with assets of the Issuer or any Restricted Subsidiary, based on the Fair Market Value of the assets invested), reduced by any dividend, distribution, interest payment, return of capital, repayment or other amount received in cash by
the Issuer or a Restricted Subsidiary in respect of such Investment. 
 “Issue Date” means December 22,
2010. 

  
 -18-

 “Issuer” has the meaning set forth in the preamble hereto. 

“Letter of Transmittal” means the letter of transmittal to be prepared by the Issuer and sent to all Holders of the
Notes for use by such Holders in connection with the Exchange Offer. 
 “Lien” means, with respect to any
asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention
agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any
jurisdiction); provided that in no event shall an operating lease be deemed to constitute a Lien. 
 “Management
Agreement” means that certain Management Agreement between Syni-verse and T.C. Group V, L.L.C. to be entered into on the Acquisition Date, so long as the terms of such Management Agreement are consistent with the description thereof
contained in the Offering Circular, and such Management Agreement, as the same may be amended, restated, modified or replaced, from time to time, to the extent such amendment, modification or replacement is not less advantageous to the Holders in
any material respect than the Management Agreement entered into on the Acquisition Date. 
 “Management Group”
means the group consisting of the executive officers and other management personnel of the Issuer on the Acquisition Date or who became officers or management personnel of the Issuer or any direct or indirect parent of the Issuer, as applicable, and
its Subsidiaries following the Acquisition Date (other than in connection with a transaction that would otherwise be a Change of Control if such persons were not included in the definition of “Permitted Holders”). 

“Merger” means the merger of Buccaneer with and into Syniverse Holdings, Inc., with Syniverse Holdings, Inc. surviving
such merger, pursuant to the terms of the Merger Agreement. 
 “Merger Agreement” means that certain Agreement
and Plan of Merger, dated as of October 28, 2010, among Syniverse Holdings, Inc., Holdings and Buccaneer, as amended up to and including the Acquisition Date. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof. 
 “Net Cash Proceeds” means the aggregate cash proceeds received by the Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash
received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or
otherwise, but only as and when received, and including any proceeds received as a result of unwinding any related Hedging Obligations in connection with such transaction but excluding the assumption by the acquiring Person of Indebtedness relating
to the disposed assets or other consideration received in any other non-cash form), net of the direct cash costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without limitation, legal,
accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and
any tax sharing arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required 

  
 -19-

 
(other than pursuant to Section 3.7(b)) to be paid as a result of such transaction, any costs associated with unwinding any related Hedging Obligations in connection with such
transaction and any deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer after such sale or
other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“Net Income” means, with respect to any Person, the net income (loss) attributable to such Person, determined in
accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 
 “Non-U.S. Person”
means a Person who is not a U.S. Person. 
 “Notes” means the Initial Notes, the Exchange Notes and any
Additional Notes, treated as a single class of securities. 
 “Notes Custodian” means the custodian with
respect to the Global Note (as appointed by the Depositary), or any successor Person thereto and shall initially be the Trustee. 
 “Obligations” means any principal, interest, 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; provided that Obligations with respect to the Notes shall not include fees or indemnification in favor of the Trustee
and other third parties other than the Holders of the Notes. 
 “Offering Circular” means the confidential
Offering Circular dated December 16, 2010, used in connection with the offering of the Initial Notes. 

“Officer” means the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, any Executive
Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Issuer. 

“Officer’s Certificate” means a certificate signed on behalf of the Issuer by an Officer of the Issuer that meets
the requirements set forth in this Indenture. 
 “Opinion of Counsel” means a written opinion from legal
counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer. 
 “Pari Passu
Indebtedness” means: 
 (1) with respect to the Issuer, the Notes and any Indebtedness that ranks pari
passu in right of payment to the Notes; and 
 (2) with respect to any Guarantor, its Guarantee and any
Indebtedness that ranks pari passu in right of payment to such Guarantor’s Guarantee. 

  
 -20-

 “Participant” means, with respect to the Depositary, Euroclear or
Clearstream a Person who has an account with the Depositary, respectively (and, with respect to DTC, shall include Euroclear or Clearstream). 
 “Permanent Regulation S Global Note” means a permanent Global Note in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited
with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Temporary Regulation S Global Note upon expiration of the Restricted Period. 

“Permitted Asset Swap” means the concurrent purchase and sale or exchange of Related Business Assets or a combination of
Related Business Assets and cash or Cash Equivalents between the Issuer or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received must be applied in accordance with Section 3.7.

 “Permitted Debt” shall have the meaning assigned thereto in Section 3.3. 

“Permitted Holders” means each of (i) the Sponsor, (ii) the Management Group, with respect to beneficial
ownership of Voting Stock of the Issuer representing not more than 10% of the total voting power of the Voting Stock of the Issuer and (iii) 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 the Persons described in clauses (i) and (ii) are members; provided that, without giving effect to the existence of such group or any other group, the Persons described in clauses (i) and (ii),
collectively, beneficially own Voting Stock representing more than 50% of the total voting power of the Voting Stock of the Issuer (subject in the case of the Management Group to the limitation in clause (ii)). Any Person or group, together with its
Affiliates, whose acquisition of beneficial ownership constitutes a Change of Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter constitute an additional Permitted
Holder. “Beneficial ownership” has the meaning given to such term under Rule 13d-3 under the Exchange Act, or any successor provision. 
 “Permitted Investments” means: 
 (1) any
Investment in Cash Equivalents; 
 (2) any Investment in the Issuer (including the Notes) or any Restricted
Subsidiary; 
 (3) any Investment by Restricted Subsidiaries of the Issuer in other Restricted Subsidiaries of
the Issuer and Investments by Subsidiaries that are not Restricted Subsidiaries in other Subsidiaries that are not Restricted Subsidiaries of the Issuer; 
 (4) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person that is primarily engaged in a Similar Business if as a result of such Investment (a) such Person becomes a
Restricted Subsidiary of the Issuer, or (b) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially all of its assets to, or is
liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; 

  
 -21-

 (5) any Investment in securities or other assets not constituting Cash
Equivalents and received in connection with an Asset Sale made pursuant to Section 3.7 or any other disposition of assets not constituting an Asset Sale; 

(6) any Investment (x) existing on the Issue Date or the Acquisition Date, (y) made pursuant to binding
commitments in effect on the Issue Date or the Acquisition Date and (z) that replaces, refinances, refunds, renews or extends any Investment described under either of the immediately preceding clauses (x) or (y); provided that any
such Investment is in an amount that does not exceed the amount replaced, refinanced, refunded, renewed or extended; 
 (7) advances to employees not in excess of $10.0 million outstanding at any one time in the aggregate; 
 (8) loans and advances to officers, directors and employees for business related travel expenses, moving and relocation expenses and other similar expenses, in each case in the ordinary course of
business; 
 (9) any Investment (x) acquired by the Issuer or any of its Restricted Subsidiaries (a) in
exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or
accounts receivable, or (b) as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default and
(y) received in compromise or resolution of (a) obligations of trade creditors or customers that were incurred in the ordinary course of business of the Issuer or any Restricted Subsidiary, including pursuant to any plan of reorganization
or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer, or (b) litigation, arbitration or other disputes; 
 (10) Hedging Obligations permitted under Section 3.3(b)(x) 

(11) any Investment by the Issuer or any of its Restricted Subsidiaries in a Similar Business (other than an Investment in
an Unrestricted Subsidiary) having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (11) that are at the time outstanding, not to exceed the greater of (x) $100.0 million and
(y) 3.25% of Total Assets at the time of such Investment; provided, however, that if any Investment pursuant to this clause (11) is made in any Person that is not a Restricted Subsidiary of the Issuer at the date of the
making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (2) above and shall cease to have been made pursuant to
this clause (11) for so long as such Person continues to be a Restricted Subsidiary; 
 (12) Investments in
joint ventures of the Issuer or any of its Restricted Subsidiaries existing on the Issue Date and the Acquisition Date in an aggregate amount, taken together with all other Investments made pursuant to this clause (12) that are at the time
outstanding, not to exceed the greater of (x) $75.0 million and (y) 2.5% of Total Assets at the time of such Investment; 
 (13) additional Investments by the Issuer or any of its Restricted Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (13) that
are at the time outstanding, not to exceed the greater of (x) $125.0 million and (y) 4.0% of Total Assets at the time of such Investment; 

  
 -22-

 (14) any transaction to the extent it constitutes an Investment that is
permitted and made in accordance with the provisions of Section 3.8(b) (except transactions described in clause (ii), (iv), (v), (ix)(a), (xiv) or (xv) of such Section 3.8(b)); 

(15) Investments the payment for which consists of Equity Interests (other than Excluded Equity) of the Issuer or any
direct or indirect parent of the Issuer, as applicable; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under Section 3.4(a)(C); 

(16) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing
arrangements with other Persons; 
 (17) Investments consisting of purchases and acquisitions of inventory,
supplies, materials and equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; 

(18) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; provided, however,
that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest; 
 (19) Investments of a Restricted Subsidiary of the Issuer acquired after the Acquisition Date or of an entity merged into or consolidated with a Restricted Subsidiary of the Issuer in a transaction that
is not prohibited by Section 4.1 after the Acquisition Date to the extent that such Investments were not made in contemplation of such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or
consolidation; 
 (20) repurchases of the Notes; and 

(21) guarantees of Indebtedness permitted to be incurred under Section 3.3, and performance guarantees in the
ordinary course of business. 
 “Permitted Joint Venture” means, with respect to any specified Person, a joint
venture (that for the avoidance of doubt is not itself a Restricted Subsidiary) of such Person, which joint venture is engaged in a Similar Business and in respect of which the Issuer or a Restricted Subsidiary beneficially owns at least 35% of the
shares of Equity Interests of such Person. 
 “Permitted Liens” means, with respect to any Person: 

(1) pledges or deposits by such Person under workers’ compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits
of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case incurred in the ordinary course of business;

  
 -23-

 (2) Liens imposed by law, such as carriers’, warehousemen’s and
mechanics’ Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding
with an appeal or other proceedings for review (or which, if due and payable, are being contested in good faith by appropriate proceedings and for which adequate reserves are being maintained, to the extent required by GAAP and such proceedings have
the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien); 
 (3) Liens
for taxes, assessments or other governmental charges (i) which are not yet due or payable or (ii) which are being contested in good faith by appropriate proceedings that have the effect of preventing the forfeiture or sale of the property
or assets subject to any such Lien and for which adequate reserves are being maintained to the extent required by GAAP; 
 (4) Liens in favor of issuers of performance and surety bonds or bid bonds or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of
such Person in the ordinary course of its business; 
 (5) minor survey exceptions, minor encumbrances, easements
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 or other restrictions as to the use of real properties or Liens incidental to the
conduct of the business of such Person or to the ownership of its properties which were not Incurred in connection with Indebtedness and 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 such Person; 
 (6) Liens Incurred to secure Obligations in respect
of Indebtedness permitted to be Incurred pursuant to clause (i), (iv), or (xx) of the definition of “Permitted Debt”; provided that, (x) in the case of clause (iv), such Lien extends only to the assets and/or Capital
Stock, the acquisition, lease, construction, repair, replacement or improvement of which is financed thereby and any income or profits thereof; and (y) in the case of clause (xx), such Lien does not extend to the property or assets (or income
or profits therefrom) of any Restricted Subsidiary other than a Foreign Subsidiary that is not a Guarantor; 

(7) Liens of Buccaneer, Syniverse or any of its Restricted Subsidiaries existing on the Issue Date (other than Liens
Incurred to secure Indebtedness under the Senior Credit Agreement); 
 (8) Liens on assets of, or Equity
Interests in, a Person at the time such Person becomes a Subsidiary; provided, however, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary;
provided, further, however, that such Liens may not extend to any other assets of the Issuer or any Restricted Subsidiary of the Issuer; 
 (9) Liens on assets at the time the Issuer or a Restricted Subsidiary of the Issuer acquired the assets, including any acquisition by means of a merger or consolidation with or into the Issuer or any
Restricted Subsidiary of the Issuer; provided, however, that such Liens are not created or Incurred in connection with, or in contemplation of, such acquisition; provided, further, however, that the Liens may not
extend to any other assets owned by the Issuer or any Restricted Subsidiary of the Issuer; 

  
 -24-

 (10) Liens securing Indebtedness or other obligations of a Restricted
Subsidiary owing to the Issuer or another Restricted Subsidiary of the Issuer permitted to be Incurred in accordance with Section 3.3; 
 (11) Liens securing Hedging Obligations so long as the related Indebtedness is, and is permitted to be under this Indenture, secured by a Lien on the same property securing such Hedging Obligations;

 (12) Liens on specific items of inventory or other goods and proceeds of any Person securing such
Person’s obligations in respect of bankers’ acceptances entered into in the ordinary course of business issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods;

 (13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the
business of the Issuer or any of its Restricted Subsidiaries; 
 (14) Liens arising from Uniform Commercial Code
financing statement filings regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; 
 (15) Liens in favor of the Issuer or any Guarantor; 
 (16) Liens on
accounts receivable and related assets of the type specified in the definition of “Receivables Financing” Incurred in connection with a Qualified Receivables Financing; 

(17) deposits made in the ordinary course of business to secure liability to insurance carriers; 

(18) Liens on the Equity Interests of Unrestricted Subsidiaries; 

(19) grants of software and other technology licenses in the ordinary course of business; 

(20) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights
related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; 
 (21) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into in the ordinary course of business; 

(22) Liens Incurred to secure cash management services (and other “bank products”) owed to a lender under the
Credit Agreement (or any Affiliate of such lender) in the ordinary course of business; 

  
 -25-

 (23) Liens to secure any refinancing, refunding, extension, renewal or
replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (7), (8), (9), (11) and (24); provided,
however, that (x) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus improvements on such property), and (y) the Indebtedness secured by such Lien at such time is not increased to
any amount greater than the sum of (A) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (7), (8), (9), (11) and (24) at the time the original Lien became a Permitted Lien
under this Indenture, and (B) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; 

(24) Liens securing Pari Passu Indebtedness permitted to be Incurred pursuant Section 3.3; provided
that at the time of any Incurrence of Pari Passu Indebtedness and after giving pro forma effect thereto (in a manner consistent with the calculation of the Fixed Charge Coverage Ratio) under this clause (24), the Consolidated Senior Secured Debt
Ratio shall not be greater than 4.00 to 1.00; 
 (25) other Liens securing obligations Incurred in the ordinary
course of business which obligations do not exceed the greater of (x) $100.0 million and (y) 3.25% of Total Assets at the time of Incurrence of such obligation, at any one time outstanding; 

(26) Liens on the assets of a joint venture to secure Indebtedness of such joint venture Incurred pursuant to clause
(xxi) of the definition of “Permitted Debt”; 
 (27) Liens on equipment of the Issuer or any
Restricted Subsidiary of the Issuer granted in the ordinary course of business to the Issuer’s or such Restricted Subsidiary’s client at which such equipment is located; 

(28) Liens created for the benefit of (or to secure) all of the Notes or the Guarantees; 

(29) Liens on property or assets used to defease or to irrevocably satisfy and discharge Indebtedness; provided
that such defeasance or satisfaction and discharge is not prohibited by this Indenture; 
 (30) Liens in favor of
customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation and exportation of goods in the ordinary course of business; 

(31) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the
course of collection; (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business; and (iii) in favor of banking institutions arising as a matter of law encumbering
deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; and 
 (32) Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness; (ii) relating to
pooled deposit or sweep accounts of the Issuer or any Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer and its Restricted Subsidiaries; or (iii) relating
to purchase orders and other agreements entered into with customers of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business. 

  
 -26-

 “Person” means any individual, corporation, partnership, limited liability
company, joint venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
 “Preferred Stock” means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution or winding up. 

“Private Placement Legend” means the legend set forth in Section 2.1(c) to be placed on all Notes issued
under this Indenture except where otherwise permitted by the provisions hereof. 
 “Pro Forma Cost Savings”
means, without duplication, with respect to any period, the net reduction in costs and other operating improvements or synergies that have been realized or are reasonably anticipated to be realized in good faith with respect to a pro forma event
within twelve months of the date of such pro forma event and that are reasonable and factually supportable, as if all such reductions in costs had been effected as of the beginning of such period, decreased by any incremental expenses incurred or to
be incurred during such four-quarter period in order to achieve such reduction in costs. Pro Forma Cost Savings described in the preceding sentence shall be accompanied by a certificate delivered to the Trustee from the Issuer’s Chief Financial
Officer that outlines the specific actions taken or to be taken and the net cost reductions and other operating improvements or synergies achieved or to be achieved from each such action and certifies that such cost reductions and other operating
improvements or synergies meet the criteria set forth in the preceding sentence. 
 “Purchase Money Note” means
a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable, from the Issuer or any Subsidiary of the Issuer to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is
intended to finance that portion of the purchase price that is not paid by cash or a contribution of equity. 

“QIB” means any “qualified institutional buyer” (as defined in Rule 144A). 

“Qualified Receivables Financing” means any Receivables Financing of a Receivables Subsidiary that meets the following
conditions: 
 (1) the Board of Directors of the Issuer shall have determined in good faith that such Qualified
Receivables Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Issuer and the Receivables Subsidiary, 

(2) all sales of accounts receivable and related assets to the Receivables Subsidiary are made at Fair Market Value (as
determined in good faith by the Issuer), and 
 (3) the financing terms, covenants, termination events and other
provisions thereof shall be market terms (as determined in good faith by the Issuer) and may include Standard Securitization Undertakings. 

  
 -27-

 The grant of a security interest in any accounts receivable of the Issuer or any of its
Restricted Subsidiaries (other than a Receivables Subsidiary) to secure any Credit Agreement shall not be deemed a Qualified Receivables Financing. 
 “Rating Agency” means (1) each of Moody’s and S&P and (2) if Moody’s or S&P ceases to rate the Notes for reasons outside of the Issuer’s control, a
“nationally recognized statistical rating organization” within the meaning of Section 3 under the Exchange Act selected by the Issuer or any parent of the Issuer as a replacement agency for Moody’s or S&P, as the case may be.

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

“Receivables Financing” means any transaction or series of transactions that may be entered into by the Issuer or any of
its Subsidiaries pursuant to which the Issuer or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Receivables Subsidiary (in the case of a transfer by the Issuer or any of its Subsidiaries), and (b) any other Person
(in the case of a transfer by a Receivables Subsidiary), or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of the Issuer or any of its Subsidiaries, and any assets related thereto including,
without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other assets which are customarily
transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable and any Hedging Obligations entered into by the Issuer or any such Subsidiary in
connection with such accounts receivable. 
 “Receivables Repurchase Obligation” means any obligation of a
seller of receivables in a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to
any asserted defense, dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 
 “Receivables Subsidiary” means a Wholly Owned Restricted Subsidiary of the Issuer (or another Person formed for the purposes of engaging in a Qualified Receivables Financing with the
Issuer in which the Issuer or any Subsidiary of the Issuer makes an Investment and to which the Issuer or any Subsidiary of the Issuer transfers accounts receivable and related assets) which engages in no activities other than in connection with the
financing of accounts receivable of the Issuer and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and
which is designated by the Board of Directors of the Issuer (as provided below) as a Receivables Subsidiary and: 

(a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by
the Issuer or any other Subsidiary of the Issuer (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Issuer or
any other Subsidiary of the Issuer in any way other than pursuant to Standard Securitization Undertakings, or (iii) subjects any property or asset of the Issuer or any other Subsidiary of the Issuer, directly or indirectly, contingently or
otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, 

  
 -28-

 (b) with which neither the Issuer nor any other Subsidiary of the Issuer has
any material contract, agreement, arrangement or understanding other than on terms which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than those that might be obtained at the time from Persons that are not
Affiliates of the Issuer, and 
 (c) to which neither the Issuer nor any other Subsidiary of the Issuer has any
obligation to maintain or preserve such entity’s financial condition or cause such entity to achieve certain levels of operating results. 
 Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by filing with the Trustee a certified copy of the resolution of the Board of Directors of the Issuer giving
effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing conditions. 
 “Record Date” for the interest payable on any applicable Interest Payment Date means June 30 and December 30 (whether or not a Business Day) next preceding such Interest Payment
Date. 
 “Registration Rights Agreement” means (i) the Registration Rights Agreement dated the Issue Date
between the Issuer and the Initial Purchasers, as amended, supplemented or otherwise modified from time to time and (ii) any other registration rights agreement entered into in connection with an issuance of Additional Notes in a private
offering after the Issue Date. 
 “Regulation S” means Regulation S promulgated under the Securities Act.

 “Regulation S Global Note” means a Temporary Regulation S Global Note or Permanent Regulation S Global Note,
as applicable. 
 “Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful
in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary will not be deemed to be Related Business Assets if they consist of
securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 

“Replacement Assets” means (1) substantially all the assets of a Person primarily engaged in a Similar Business or
(2) a majority of the Voting Stock of any Person primarily engaged in a Similar Business that will become, on the date of acquisition thereof, a Restricted Subsidiary. 
 “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend. 
 “Restricted Global Note” means a Global Note bearing the Private Placement Legend. 
 “Restricted Investment” means an Investment other than a Permitted Investment. 
 “Restricted Period” means, in relation to the Initial Notes, the 40 consecutive days beginning on and including the later of (A) the day on which the Initial Notes are offered to
persons other than distributors (as defined in Regulation S under the Securities Act) and (B) the Issue Date; and, in relation to any Additional Notes that bear the Private Placement Legend, it means the comparable period of 40 consecutive
days. 

  
 -29-

 “Restricted Subsidiary” means any Subsidiary of a Person other than an
Unrestricted Subsidiary of such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. 

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

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

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter acquired by the Issuer or
a Restricted Subsidiary whereby the Issuer or a Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such Person, other than leases between the Issuer and a Restricted Subsidiary of
the Issuer or between Restricted Subsidiaries of the Issuer. 
 “S&P” means Standard & Poor’s
Ratings Services, a Standard & Poor’s Financial Services LLC business, or any successor to the rating agency business thereof. 
 “SEC” means the Securities and Exchange Commission. 

“Secured Indebtedness” means any Indebtedness secured by a Lien. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Senior Credit Agreement” means the credit agreement to be entered into on or around the Issue
Date among the Issuer, Holdings, the financial institutions named therein and Barclays Bank PLC, as Administrative Agent, as described under “Description of New Senior Secured Credit Facilities” in the Offering Circular as amended,
restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or indenture
extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or
indenture or indentures or increasing the amount loaned or issued thereunder or altering the maturity thereof. 
 “Shelf
Registration Statement” means the Shelf Registration Statement as defined in the Registration Rights Agreement. 

“Significant Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” of the
Issuer within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 
 “Similar Business” means
any business engaged in by the Company or any of its Restricted Subsidiaries on the Acquisition Date and any business or other activities that are reasonably similar, ancillary, complementary or related to, or a reasonable extension, development or
expansion of, the businesses in which the Company and its Restricted Subsidiaries are engaged on the Acquisition Date. 

  
 -30-

 “Sponsor” means (1) T.C. Group L.L.C. and (2) one or more
investment funds advised, managed or controlled by T.C. Group L.L.C. and, in each case (whether individually or as a group) their Affiliates (but excluding any operating portfolio companies of the foregoing). 

“Standard Securitization Undertakings” means representations, warranties, covenants, indemnities and guarantees of
performance entered into by the Issuer or any Subsidiary of the Issuer which the Issuer has determined in good faith to be customary in a Receivables Financing including, without limitation, those relating to the servicing of the assets of a
Receivables Subsidiary, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. 
 “Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the final payment of principal of such security is due and payable,
including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless
such contingency has occurred). 
 “Subordinated Indebtedness” means (a) with respect to the Issuer, any
Indebtedness of the Issuer which is by its terms subordinated in right of payment to the Notes, and (b) with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms subordinated in right of payment to its Guarantee.

 “Subsidiary” means, with respect to any Person (1) any corporation, association or other business
entity (other than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of the Voting Stock 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, (2) any partnership, joint venture or limited liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting
interests or general and 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 (y) such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such entity and (3) any Person that is
consolidated in the consolidated financial statements of the specified Person in accordance with GAAP. 

“Syniverse” means Syniverse Holdings, Inc. 

“Syniverse’s Existing Notes” means Syniverse’s existing 7 3/4% Senior Subordinated Notes due 2013. 

“Temporary Regulation S Global Note” means a temporary Global Note in the form of Exhibit A hereof bearing the
Global Note Legend, the Private Placement Legend, and the Temporary Regulation S Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal
amount of the Notes sold in reliance on Rule 903. 
 “Temporary Regulation S Legend” means the legend set forth
in Section 2.1(e). 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb)
as in effect on Issue Date. 

  
 -31-

 “Total Assets” means the total consolidated assets of the Issuer and its
Restricted Subsidiaries, as shown on the most recent consolidated balance sheet of the Issuer and its Restricted Subsidiaries. 

“Transactions” means the transactions contemplated by the Merger Agreement and as described in the Offering Circular
under the heading “The Transactions,” including the borrowings under the Credit Agreement, the offering of the Notes and the satisfaction and discharge of Syniverse’s Existing Notes on the Acquisition Date. 

“Treasury Rate” means, as of the applicable redemption date, the yield to maturity as of such redemption date of United
States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to such redemption date (or, if
such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such redemption date to January 15, 2015; provided, however, that if the period from such
redemption date to January 15, 2015 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Officer” means any officer within the corporate trust administration department of the Trustee, with direct
responsibility for performing the Trustee’s duties under this Indenture and also means, with respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter is referred because of such person’s
knowledge of and familiarity with the particular subject. 
 “Trustee” means Wilmington Trust FSB until a
successor replaces it and, thereafter, means the successor. 
 “Unrestricted Definitive Note” means one or more
Definitive Notes that do not bear and are not required to bear the Private Placement Legend. 
 “Unrestricted Global
Note” means a permanent Global Note substantially in the form of Exhibit A attached hereto that bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and
that is deposited with or on behalf of and registered in the name of the Depositary, representing Notes that do not bear the Private Placement Legend. 
 “Unrestricted Subsidiary” means: 
 (1) any
Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of such Person pursuant to Section 3.14; and 

(2) any Subsidiary of an Unrestricted Subsidiary. 

“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 by the United States of America, 

  
 -32-

 
which, in each case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the
Securities Act) as custodian with respect to any 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 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 depository 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 depository receipt. 
 “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote (without regard to the occurrence of any contingency) in the
election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied
to any Indebtedness or Disqualified 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 multiplied by the amount of such payment, by (2) the sum of all such payments. 

“Wholly Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a Restricted Subsidiary. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other
ownership interests of which (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or other third parties to the extent required by applicable law) shall at the time be owned by such Person or
by one or more Wholly Owned Subsidiaries of such Person and one or more Wholly Owned Subsidiaries of such Person. 
 SECTION
1.2. Other Definitions. 
  

			
	 Term
	  	Defined in
Section
	 “actual knowledge”
	  	7.2(g)
	 “Additional Notes”
	  	2.2
	 “Affiliate Transaction”
	  	3.8(a)
	 “Agent Member”
	  	2.1(c)
	 “Asset Sale Offer”
	  	3.7(c)
	 “Authentication Order”
	  	2.2
	 “Change of Control Offer”
	  	3.9(b)
	 “Covenant Suspension Event”
	  	3.15
	 “Defaulted Interest”
	  	2.12
	 “DTC”
	  	2.1(b)
	 “Escrowed Funds”
	  	5.9(a)
	 “Event of Default”
	  	6.1
	 “Excess Proceeds”
	  	3.7(c)
	 “Guarantor Obligations”
	  	10.1(a)
	 “IAIs”
	  	2.2
	 “IPO”
	  	3.4(b)(iv)

  
 -33-

			
	 Term
	  	Defined in
Section
	 “Mandatory Redemption Event”
	  	5.9(b)
	 “Offer Amount”
	  	5.8
	 “Offer Period”
	  	5.8
	 “Offer to Repurchase”
	  	5.8
	 “Outside Date”
	  	5.9(b)
	 “Paying Agent”
	  	2.3
	 “Permitted Debt”
	  	3.3(b)
	 “Purchase Date”
	  	5.8(a)
	 “Redemption Date”
	  	5.4
	 “Refinancing Indebtedness”
	  	3.3(b)(xiv)
	 “Refunding Capital Stock”
	  	3.4(b)(ii)
	 “Registrar”
	  	2.3
	 “Resale Restriction Termination Date”
	  	2.6(k)
	 “Restricted Payments”
	  	3.4(a)
	 “Retired Capital Stock”
	  	3.4(b)(ii)
	 “Reversion Date”
	  	3.15
	 “Special Interest Payment Date”
	  	2.12(a)
	 “Special Mandatory Redemption
	  	5.9(b)
	 “Special Mandatory Redemption Date
	  	5.9(b)
	 “Special Record Date”
	  	2.12(a)
	 “Special Redemption Notice”
	  	5.9(b)
	 “Successor Company”
	  	4.1(a)(i)
	 “Successor Guarantor”
	  	4.1(b)(i)
	 “Suspended Covenants”
	  	3.15
	 “Suspension Period”
	  	3.15
	 “Unpaid Amount”
	  	3.4(b)(ii)(c)

 SECTION 1.3. 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) “including” means including without limitation; 

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

(f) (i) unsecured Indebtedness shall not be deemed to be subordinate or junior to secured Indebtedness merely by
virtue of its nature as unsecured Indebtedness and (ii) secured Indebtedness shall not be deemed to be subordinated or junior to other secured Indebtedness merely because it has a junior priority with respect to the same collateral; 

  
 -34-

 (g) references to sections of, or rules under, the Securities Act or
Exchange Act shall be deemed to include substitute, replacement or successor sections or rules adopted by the SEC from time to time; 
 (h) unless the context otherwise requires, any reference to an “Article,” “Section” or “clause” refers to an Article, Section or clause, as the case may be, of this
Indenture; 
 (i) the words “herein,” “hereof” and “hereunder” and any other words
of similar import refer to this Indenture as a whole and not any particular Article, Section, clause or other subdivision; and 
 (j) any requirement to pay interest on the Notes shall include all Additional Interest required pursuant to the Registration Rights Agreement or Section 6.1. 

SECTION 1.4. 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 hereof. 
 The following TIA term used in this Indenture has the
following meanings: 
 “obligor” on the Notes means each of the Issuer and any successor obligor upon the
Notes. 
 All other terms used in this Indenture that are defined by the TIA, defined by reference to another statute or defined
by the SEC rule under the TIA have the meanings so assigned to them. 
 ARTICLE II  

The Notes 

SECTION 2.1. Form and Dating. 
 (a) The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto, the terms of which are incorporated in and made a part hereof. The Notes
may have notations, legends or endorsements approved as to form by the Issuer, and required by law, stock exchange rule, agreements to which the Issuer is subject or usage. Each Note shall be dated the date of its authentication. The Notes shall be
issuable only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 (b) The Notes shall
initially be issued in the form of one or more Global Notes and The Depository Trust Company (“DTC”), its nominees, and their respective successors, shall act as the Depositary with respect thereto. Each Global Note (i) shall
be registered in the name of the Depositary for such Global Note or the nominee of such Depositary, (ii) shall be delivered by the Trustee to such Depositary or held by the Trustee as custodian for the Depositary pursuant to such
Depositary’s instructions, and (iii) shall bear a Global Note Legend in substantially the following form: 
 UNLESS
THIS CERTIFICATE 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 

  
 -35-

 
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. 
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE AND IS
REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY OR A SUCCESSOR DEPOSITARY. THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

(c) Except as permitted by Section 2.6(h), any Note not registered under the Securities Act shall bear the following Private
Placement Legend on the face thereof: 
 THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE
OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE
144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (i)(a) TO A PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (IF AVAILABLE), (ii) TO THE ISSUER, OR (iii) PURSUANT TO
AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER 

  
 -36-

 
APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET
FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY. 
 (d) Each Note issued hereunder that has more than a de minimis amount of original issue discount for U.S. federal income tax purposes shall bear an Original Issue Discount Legend in substantially
the following form on the face thereof: 
 FOR UNITED STATES FEDERAL INCOME TAX PURPOSES, THIS DEBT INSTRUMENT
BEARS ORIGINAL ISSUE DISCOUNT. INFORMATION INCLUDING THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND THE YIELD TO MATURITY WILL BE MADE AVAILABLE TO THE HOLDER UPON REQUEST TO THE TREASURER OF THE ISSUER AT BUCCANEER MERGER SUB,
INC., 520 MADISON AVENUE, NEW YORK, NY 10022, FACSIMILE: (202) 729-5364. 
 (e) The Temporary Regulation S Global Note
shall bear a legend in substantially the following form: 
 EXCEPT AS SET FORTH BELOW, BENEFICIAL OWNERSHIP INTERESTS IN THIS
TEMPORARY REGULATION S GLOBAL NOTE WILL NOT BE EXCHANGEABLE FOR INTERESTS IN THE PERMANENT REGULATION S GLOBAL NOTE OR ANY OTHER NOTE REPRESENTING AN INTEREST IN THE NOTES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON
TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY DISTRIBUTION COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(b)(2) OF REGULATION S UNDER THE SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE
THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD,
BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED (I) TO THE ISSUERS, (II) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE
SECURITIES ACT, OR (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. HOLDERS OF INTERESTS IN
THIS TEMPORARY REGULATION S GLOBAL NOTE WILL NOTIFY ANY PURCHASER OF THIS NOTE OF THE RESALE RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE. 
 AFTER THE EXPIRATION OF THE DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE MAY BE EXCHANGED FOR INTERESTS IN A RULE 144A GLOBAL NOTE ONLY IF (1) SUCH
EXCHANGE OCCURS IN CONNECTION WITH A TRANSFER OF THE NOTES IN COMPLIANCE WITH RULE 144A AND (2) THE TRANSFEROR OF THE REGULATION S GLOBAL NOTE FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM

  
 -37-

 
ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT THE REGULATION S GLOBAL NOTE IS BEING TRANSFERRED (A) TO A PERSON WHO THE TRANSFEROR REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL
BUYER WITHIN THE MEANING OF RULE 144A, (B) TO A PERSON WHO IS PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, AND (C) IN ACCORDANCE WITH ALL
APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS. 
 BENEFICIAL INTERESTS IN A RULE 144A
GLOBAL NOTE MAY BE TRANSFERRED TO A PERSON WHO TAKES DELIVERY IN THE FORM OF AN INTEREST IN THE REGULATION S GLOBAL NOTE, WHETHER BEFORE OR AFTER THE EXPIRATION OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD, ONLY IF THE TRANSFEROR FIRST DELIVERS TO
THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT SUCH TRANSFER IS BEING MADE IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S OR RULE 144 (IF AVAILABLE). 

Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Indenture with respect
to any Global Note held on their behalf by the Depository, or the Trustee as its custodian and the Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of the Global Note for all
purposes whatsoever, including but not limited to notices and payments. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification,
proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Note. Any notice to be delivered to DTC
(including, but not limited to, a notice of redemption) may be delivered electronically by the Trustee or the Issuer in accordance with applicable procedures of DTC. 
 SECTION 2.2. Form of Execution and Authentication. An Officer shall sign the Notes for the Issuer by manual or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time the Note is authenticated, the Note shall nevertheless
be valid. 
 A Note shall not be valid until authenticated by the manual signature of the Trustee. The signature of the Trustee
shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 The Trustee shall authenticate
(i) Initial Notes for original issue on the Issue Date in an aggregate principal amount of $475,000,000, (ii) pursuant to the Exchange Offer, Exchange Notes from time to time for issue only in exchange for a like principal amount of
Initial Notes and (iii) subject to compliance with Section 3.3, one or more series of Notes (“Additional Notes”) for original issue after the Issue Date (such Notes to be substantially in the form of Exhibit
A) in an unlimited amount (and if issued with a Private Placement Legend, the same principal amount of Exchange Notes in exchange therefor upon consummation of an Exchange Offer for such Additional Notes), in each case upon written order of the
Issuer signed by an Officer of the Issuer (an “Authentication Order”), which Authentication Order shall, in the case of any issuance of Additional Notes, certify that such issuance is in compliance with Section 3.3. In
addition, each such Authentication Order shall specify the amount of Notes to be authenticated, 

  
 -38-

 
the date on which the Notes are to be authenticated, whether the securities are to be Initial Notes, Exchange Notes or Additional Notes and the aggregate principal amount of Notes outstanding on
the date of authentication, and shall further specify the amount of such Notes to be issued as Global Notes or Definitive Notes. Such Notes shall initially be in the form of one or more Global Notes, which (i) shall represent, and shall be
denominated in an amount equal to the aggregate principal amount of, the Notes to be issued, (ii) shall be registered in the name of the Depositary or its nominee and (iii) shall be held by the Trustee as Notes Custodian. All Notes issued
under this Indenture shall vote and consent together on all matters as one class and no series of Notes shall have the right to vote or consent as a separate class on any matter. 

The Initial Notes and any Additional Notes shall be resold initially only to (A) QIBs and (B) Persons other than U.S. Persons
(as defined in Regulation S) in reliance on Regulation S. Such Initial Notes and Additional Notes may thereafter be transferred to among others, QIBs, purchasers in reliance on Regulation S and institutional “accredited investors” (as
defined in Rules 501(a)(1), (2), (3) and (7) under the Securities Act) who are not QIBs (“IAIs”) in accordance with Rule 501 of the Securities Act in accordance with the procedures described herein. 

The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate Notes. Unless limited by the terms of such
appointment, an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an
Agent to deal with the Issuer or any Affiliate of the Issuer. 
 SECTION 2.3. Registrar and Paying Agent. The Issuer
shall maintain (i) an office or agency where Notes may be presented for registration of transfer or for exchange (including any co-registrar, the “Registrar”) and (ii) an office or agency where Notes may be presented for
payment (“Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange. The Issuer may appoint one or more co-registrars and one or more additional paying agents. The term “Paying
Agent” includes any additional paying agent. The Issuer may change any Paying Agent, Registrar or co-registrar without prior notice to any Holder of a Note. The Issuer shall notify the Trustee in writing and the Trustee shall notify the Holders
of the Notes of the name and address of any Agent not a party to this Indenture. The Issuer may act as Paying Agent, Registrar or co-registrar. The Issuer shall enter into an appropriate agency agreement with any Agent not a party to this Indenture,
which shall incorporate the provisions of the TIA. The agreement shall implement the provisions hereof that relate to such Agent. The Issuer shall notify the Trustee in writing of the name and address of any such Agent. If the Issuer fails to
maintain a Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as such, and shall be entitled to appropriate compensation in accordance with Section 7.6. 

The Issuer initially appoints the Trustee as Registrar, Paying Agent and to act as Notes Custodian with respect to the Notes. 

SECTION 2.4. Paying Agent to Hold Money in Trust. The Issuer shall require each Paying Agent other than the Trustee to agree in
writing that the Paying Agent shall hold in trust for the benefit of the Holders of the Notes or the Trustee all money held by the Paying Agent for the payment of principal of, premium, if any, and interest on the Notes, and shall notify the Trustee
in writing of any Default by the Issuer in making any such payment. While any such Default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a Paying Agent to pay all
money held by such Paying Agent to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer) shall have no further liability for the money delivered to the Trustee. If the Issuer acts as Paying Agent, it shall
segregate and hold in a separate trust fund for the benefit of the Holders of the Notes all money held by it as Paying Agent. 

  
 -39-

 SECTION 2.5. Lists of Holders of the Notes. 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 of the Notes and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Issuer shall furnish to the
Trustee at least seven Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders
of the Notes, including the aggregate principal amount of the Notes held by each thereof, and the Issuer shall otherwise comply with TIA § 312(a). 
 SECTION 2.6. Transfer and Exchange. 
 (a) Transfer and Exchange of
Global Notes. A Global Note may not be transferred except, as a whole, by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such
nominee to a successor Depositary or a nominee of such successor Depositary. Global Notes shall be exchanged by the Issuer for Definitive Notes, subject to any applicable laws, only (i) if the Issuer delivers to the Trustee written notice from
the Depositary that the Depositary is unwilling or unable to continue to act as Depositary for the Global Notes or that is it is no longer a clearing agency registered under the Exchange Act and, in either case, the Issuer fails to appoint a
successor Depositary within 120 days after the date of such notice from the Depositary; (ii) the Issuer in its sole discretion determines that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes and delivers a
written notice to such effect to the Trustee; provided that in no event shall the Temporary Regulation S Global Note be exchanged by the Issuer for Definitive Notes prior to (A) the expiration of the Restricted Period and (B) the
receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act; or (iii) upon request of the Trustee or Holders of a majority of the aggregate principal amount of outstanding Notes if there
shall have occurred and be continuing an Event of Default with respect to the Notes. In any such case, the Issuer shall notify the Trustee in writing that, upon surrender by the Participants and Indirect Participants of their interests in such
Global Note, certificated Notes shall be issued to each Person that such Participants, Indirect Participants and DTC jointly identify as being the beneficial owner of the related Notes. Global Notes also may be exchanged or replaced, in whole or in
part, as provided in Sections 2.7 and 2.10. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.6 or Section 2.7 or 2.10
hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.6(a). However, beneficial interests in a Global Note
may be transferred and exchanged as provided in Section 2.6(b), (c) or (f) below. 
 (b)
Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in accordance with the provisions hereof and the Applicable
Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth in this Indenture to the extent required by the Securities Act. Transfers of beneficial interests in the
Global Notes also shall require compliance with the applicable subparagraphs below. 
 (i) Transfer of Beneficial Interests
in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer
restrictions set forth in 

  
 -40-

 
the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, no transfer of beneficial interests in a Temporary Regulation S Global Note
may be made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser) unless permitted by applicable law and made in compliance with Sections 2.6(b)(ii) and (iii) below. Beneficial interests
in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the Registrar to
effect the transfers described in this Section 2.6(b)(i) unless specifically stated above. 
 (ii) All Other
Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.6(b)(i) above, the transferor of such beneficial interest must
deliver to the Registrar either (A) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a
beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant
account to be credited with such increase, or (B) (1) if Definitive Notes are at such time permitted to be issued pursuant to this Indenture, a written order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the
Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above; provided that in no event shall Definitive Notes be issued upon the
transfer or exchange of beneficial interests in the Temporary Regulation S Global Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903 under the
Securities Act. Upon consummation of an Exchange Offer by the Issuer in accordance with Section 2.6(f) below, the requirements of this Section 2.6(b)(ii) shall be deemed to have been satisfied upon receipt by the Registrar of
the instructions contained in the Letter of Transmittal delivered by the holder of such beneficial interests in the Restricted Global Notes (or delivered in accordance with Applicable Procedures). Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to
Section 2.6(j) below. 
 (iii) Transfer of Beneficial Interests to Another Restricted Global Note. A
beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of
Section 2.6(b)(ii) above and the Registrar receives the following: 
 (A) if the transferee will take
delivery in the form of a beneficial interest in a 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B) if the transferee will take delivery in the form of a beneficial interest in the Temporary Regulation S Global Note or
the Permanent Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transferee will take delivery in the form of a beneficial interest in the IAI Global Note, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (3) thereof, if applicable. 

  
 -41-

 (iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.6(b)(ii) above, and 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a Broker-Dealer, (2) a
Person participating in the distribution of the Exchange Notes or (3) a Person who is an “affiliate” (as defined in Rule 144) of the Issuer; 
 (B) such transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement; 

(C) such transfer is effected by a Broker-Dealer pursuant to an Exchange Offer Registration Statement and such
Broker-Dealer complies with the terms of the Registration Rights Agreement; or 
 (D) the Registrar receives the
following: 
 (y) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

(z) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the applicable certifications in item (4) thereof;

 and, in each such case set forth in this subparagraph (D), if the Registrar or the Issuer so requests or if the Applicable
Procedures so require, an Opinion of Counsel of the Holder or the Issuer (except in the case the Issuer has so requested) in form reasonably acceptable to the Registrar or the Issuer, as applicable, to the effect that such exchange or transfer is in
compliance with the Securities Act and that the restrictions on transfer contained in this Indenture and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued,
the Issuer shall issue and, upon receipt of an authentication order in accordance with Section 2.2, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal
amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above. 
 Beneficial interests in an
Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 

  
 -42-

 (c) Transfer and Exchange of Beneficial Interests for Definitive Notes. 

(i) Transfer and Exchange of Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes. Subject to
Section 2.6(a), if any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of a Restricted Definitive Note, then upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of
Exhibit C hereto, including the certifications in item (2)(a) thereof; 
 (B) if such beneficial
interest is being transferred to a QIB in accordance with Rule 144A under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 
 (E) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in
subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3) thereof, if applicable; 

(F) if such beneficial interest is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect
set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such
beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof; 

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.6(j)
below, and the Issuer shall execute and the Trustee shall authenticate and deliver to the Person designated in the certificate a Restricted Definitive Note in the appropriate principal amount. Any Restricted Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this Section 2.6(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the
Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Restricted Definitive Notes to the Persons in whose names such Notes are so registered. Any Restricted Definitive Note
issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.6(c)(i) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

  
 -43-

 (ii) Beneficial Interests in Regulation S Temporary Global Note to Definitive Notes.
Notwithstanding Sections 2.6(c)(1)(A) and (C) hereof, a beneficial interest in the Regulation S Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior
to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a transfer pursuant to an exemption from the
registration requirements of the Securities Act other than Rule 903 or Rule 904. 
 (iii) Transfer and Exchange of Beneficial
Interests in Restricted Global Notes for Unrestricted Definitive Notes. Subject to Section 2.6(a), a holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive
Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 
 (A) such exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the
transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a Broker-Dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is an
“affiliate” (as defined in Rule 144) of the Issuer; 
 (B) such transfer is effected pursuant to a
Shelf Registration Statement in accordance with the Registration Rights Agreement; 
 (C) such transfer is
effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement and such Broker-Dealer complies with the terms of the Registration Rights Agreement; or 

(D) the Registrar receives the following: 

(y) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for a Definitive Note that does not bear the Private Placement Legend, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(z) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the applicable certifications in item (4) thereof, 

and, in each such case set forth in this subparagraph (D), if the Registrar or the Issuer so requests or if the Applicable Procedures so
require, an Opinion of Counsel of the Holder or the Issuer (except in the case the Issuer has so requested) in form reasonably acceptable to the Registrar or the Issuer, as applicable, to the effect that such exchange or transfer is in compliance
with the Securities Act and that the restrictions on transfer contained in this Indenture and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(iv) Transfer and Exchange of Beneficial Interests in Unrestricted Global Notes for Unrestricted Definitive Notes. Subject to
Section 2.6(a), if any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such 

  
 -44-

 
beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.6(b)(ii) above, the
Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.6(j) below, and the Issuer shall execute and the Trustee shall authenticate and deliver to the Person
designated in the certificate a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.6(c)(iv) shall be registered in such name or names and in
such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive
Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.6(c)(iv) shall not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(i) Transfer and Exchange of Restricted Definitive Notes for Beneficial Interests in Restricted Global Notes. If any Holder of a
Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a
Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder
of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof;

 (B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A under the
Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate to the effect
set forth in Exhibit B hereto, including the certifications in item (2) thereof; 
 (D) if such
Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in
item (3)(a) thereof; 
 (E) if such Restricted Definitive Note is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable; 
 (F)
if such Restricted Definitive Note is being transferred to the Issuer or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 

  
 -45-

 (G) if such Restricted Definitive Note is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, the Trustee shall cancel the Restricted Definitive Note, increase or
cause to be increased the aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, the 144A Global Note, and in the case of clause (C) above, the
Regulation S Global Note, and in all other cases, the IAI Global Note. 
 (ii) Transfer and Exchange of Restricted Definitive
Notes for Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if: 
 (A) such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (1) a Broker-Dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is an “affiliate” (as defined in Rule 144) of the Issuer; 

(B) such transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to an Exchange Offer Registration
Statement and such Broker-Dealer complies with the terms of the Registration Rights Agreement; or 
 (D) the
Registrar receives the following: 
 (y) if the Holder of such Definitive Notes proposes to exchange such Notes
for a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(z) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in
the form of a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the applicable certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar or the Issuer so requests or if the Applicable Procedures so
require, an Opinion of Counsel of the Holder or the Issuer (except in the case the Issuer has so requested) in form reasonably acceptable to the Registrar or the Issuer, as applicable, to the effect that such exchange or transfer is in compliance
with the Securities Act and that the restrictions on transfer contained in this Indenture and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.6(d)(ii), the Trustee shall cancel the
Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 
 (iii)
Transfer and Exchange of Unrestricted Definitive Notes for Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or
transfer such Unrestricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel
the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 

  
 -46-

 If any such exchange or transfer from an Unrestricted Definitive Note or a Restricted
Definitive Note, as the case may be, to a beneficial interest is effected pursuant to Section 2.6(d)(ii)(B), (d)(ii)(D) or (d)(iii) above at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall
issue and, upon receipt of an Authentication Order in accordance with Section 2.2, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Unrestricted
Definitive Notes or Restricted Definitive Notes, as the case may be, so transferred. 
 (e) Transfer and Exchange of
Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.6(e), the Registrar shall register the transfer or exchange of Definitive
Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar
duly executed by such Holder or its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this
Section 2.6(e). 
 (i) Transfer of Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
 (B)
if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act,
then the transferor must deliver a certificate in the form of Exhibit B hereto, including, if the Issuer so requests, a certification and/or Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such transfer is in
compliance with the Securities Act. 
 (ii) Transfer and Exchange of Restricted Definitive Notes for Unrestricted Definitive
Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if 

(A) such exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights
Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a Broker-Dealer, (2) a Person participating in the distribution of the
Exchange Notes or (3) a Person who is an “affiliate” (as defined in Rule 144) of the Issuer; 

  
 -47-

 (B) any such transfer is effected pursuant to a Shelf Registration Statement
in accordance with the Registration Rights Agreement; 
 (C) any such transfer is effected by a Broker-Dealer
pursuant to an Exchange Offer Registration Statement and such Broker-Dealer complies with the terms of the Registration Rights Agreement; or 
 (D) the Registrar receives the following: 
 (y) if the Holder of
such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(z) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the applicable certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar or the Issuer so requests, an Opinion of Counsel of the Holder
or the Issuer (except in the case the Issuer so requests) in form reasonably acceptable to the Registrar or the Issuer, as applicable, to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on
transfer contained in this Indenture and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 (iii) Transfer of Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the
form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 

(f) Exchange Offer. Upon the occurrence of an Exchange Offer in accordance with the Registration Rights Agreement, the Issuer
shall issue and, upon receipt of an authentication order in accordance with Section 2.2 hereof, the Trustee shall authenticate (i) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount
of the beneficial interests in the Restricted Global Notes tendered for acceptance in an Exchange Offer by Persons that make the certifications in the applicable Letter of Transmittal required by Section 6(a) of the Registration Rights
Agreement, and accepted for exchange in an Exchange Offer and (ii) subject to Section 2.6(a) Unrestricted Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes accepted
for exchange in an Exchange Offer by Persons that make the certifications in the applicable Letters of Transmittal required by Section 2(a) of the Registration Rights Agreement, and accepted for exchange in an Exchange Offer. Concurrently with
the issuance of such Notes, the Trustee shall cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Issuer shall execute and the Trustee shall authenticate and deliver to the Persons
designated by the Holders of Restricted Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amounts. 

  
 -48-

 (g) Temporary Regulation S Global Note. 

(i) Notes offered and sold in reliance on Regulation S shall be issued initially in the form of the Temporary Regulation S Global Note,
which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Notes Custodian and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of
Euroclear or Clearstream, duly executed by the Issuer and authenticated by the Trustee as hereinafter provided. 
 (ii) During
the Restricted Period, beneficial ownership interests in Temporary Regulation S Global Notes may only be sold, pledged or transferred (A) to the Issuer, (B) in an offshore transaction in accordance with Rule 904 of Regulation S (other than
a transaction resulting in an exchange for an interest in a Permanent Regulation S Global Note) or (C) pursuant to an effective registration statement under the Securities Act, in each case in accordance with any applicable securities laws of
any State of the United States; and beneficial interests in a 144A Global Note may be transferred to a Person who takes delivery in the form of an interest in a Regulation S Global Note, whether before or after the expiration of the Restricted
Period, only if the transferor first delivers to the Trustee a written certificate to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if applicable). 

(iii) Within a reasonable period after expiration or termination of the Restricted Period, beneficial interests in each Temporary
Regulation S Global Note shall be exchanged for beneficial interests in a Permanent Regulation S Global Note upon delivery to DTC of the certification of compliance and the transfer of applicable Notes pursuant to the Applicable Procedures.
Simultaneously with the authentication of the corresponding Permanent Regulation S Global Note, the Trustee shall cancel the corresponding Temporary Regulation S Global Note. The aggregate principal amount of a Temporary Regulation S Global Note and
a Permanent Regulation S Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter
provided. 
 (iv) Notwithstanding anything to the contrary in this Sections 2.6, a beneficial interest in the Temporary
Regulation S Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior to (X) the expiration of the Restricted Period and (Y) the receipt by the
Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) of the Securities Act, except in the case of a transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904.

 (h) Private Placement Legend. 
 (i) Except as permitted by subparagraph (B) below, each Global Note (other than an Unrestricted Global Note) and each Definitive Note (and all Notes issued in exchange therefor or substitution
thereof) shall bear the Private Placement Legend. 
 (ii) Notwithstanding the foregoing, any Global Note or Definitive Note
issued pursuant to subparagraph (b)(iv), (c)(iii), (c)(iv), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f) of this Section 2.6 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement
Legend. 
 (i) Global Note Legend. Each Global Note shall bear the Global Note Legend. 

  
 -49-

 (j) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial
interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by
the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a
beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary
at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global
Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(k) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Global Notes and
Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.2 or at the Registrar’s request. 
 (ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuer may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections
2.2, 2.10, 3.7, 3.9, 5.7, 5.8 and 9.4). 
 (iii) The Registrar shall not be required to
register the transfer of or exchange any Note selected for redemption in whole or in part, except for the unredeemed portion of any Note being redeemed in part. 
 (iv) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuer, evidencing the same debt,
and entitled to the same benefits hereof, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 
 (v) Neither the Registrar nor the Issuer shall be required (A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business on a Business Day 15
days before the mailing of a notice of redemption of Notes and ending at the close of business on the day of such mailing, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the
unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date. 

(vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuer may deem and treat
the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuer shall be
affected by notice to the contrary. 
 (vii) The Trustee shall authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.2. 

  
 -50-

 (viii) All certifications, certificates and Opinions of Counsel required to be submitted to
the Registrar pursuant to this Section 2.6 to effect a registration of transfer or exchange may be submitted by facsimile or electronically. 
 (ix) The Trustee shall have no 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 Participants or Indirect Participants) 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. 
 (x) Neither the Trustee, the Issuer nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary. 

SECTION 2.7. Replacement Notes. If any mutilated Note is surrendered to the Trustee, or the Issuer and the Trustee receive
evidence to their satisfaction of the destruction, loss or theft of any Note, the Issuer shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee’s requirements for replacements
of Notes are met. The Holder must supply indemnity or security sufficient in the judgment of the Trustee (with respect to the Trustee) and the Issuer (with respect to the Issuer) to protect the Issuer, the Trustee, any Agent or any authenticating
agent from any loss which any of them may suffer if a Note is replaced. The Issuer and the Trustee may charge for their fees and expenses in replacing a Note including amounts to cover any tax, assessment, fee or other governmental charge that may
be imposed in relation thereto. 
 Every replacement Note is an obligation of the Issuer. 

SECTION 2.8. Outstanding Notes. The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation and those described in this Section 2.8 as not outstanding. 

If a Note is replaced pursuant to Section 2.7, it ceases to be outstanding unless the Trustee receives proof satisfactory to
it that the replaced Note is held by a protected purchaser. 
 If the principal amount of any Note is considered paid under
Section 3.1 hereof, it shall cease to be outstanding and interest on it shall cease to accrue. 
 Subject to
Section 2.9, a Note does not cease to be outstanding because the Issuer, a Subsidiary of the Issuer or an Affiliate of the Issuer holds the Note. 
 SECTION 2.9. Treasury Notes. In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, any
Subsidiary of the Issuer or any Affiliate of the Issuer shall be considered as though not outstanding, except that for purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes
which a Trust Officer actually knows to be owned by the Issuer, any Subsidiary of the Issuer, or any Affiliate of the Issuer shall be considered as not outstanding. Upon request of the Trustee, the Issuer shall promptly furnish to the Trustee an
Officer’s Certificate listing and identifying all Notes, if any, known by the Issuer to be owned or held by or for the account of any of the above-described persons, and the Trustee shall be entitled to accept such Officer’s Certificate as
conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any such determination. 

  
 -51-

 SECTION 2.10. Temporary Notes. Until Definitive Notes are ready for delivery, the
Issuer may prepare and the Trustee shall upon receipt of an Authentication Order authenticate temporary Notes. Temporary Notes shall be substantially in the form of Definitive Notes but may have variations that the Issuer and the Trustee consider
appropriate for temporary Notes. Without unreasonable delay, the Issuer shall prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate Definitive Notes in exchange for temporary Notes. Until such exchange, temporary Notes
shall be entitled to the same rights, benefits and privileges as Definitive Notes. 
 SECTION 2.11. Cancellation. The
Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee shall cancel all Notes
surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall dispose of all canceled Notes in its customary manner (subject to the record retention requirements of the Exchange Act), and upon the written request
of the Issuer, the Trustee shall deliver copies of such canceled Notes to the Issuer. The Issuer may not issue new Notes to replace Notes that it has redeemed or paid or that have been delivered to the Trustee for cancellation. 

SECTION 2.12. 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 interest 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 by virtue of having been such Holder, 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 Issuer, at its election in
each case, as provided in clause (a) or (b) below: 
 (a) The Issuer 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 Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date (not less than 30 days after such notice unless a shorter period shall be acceptable to the
Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted
Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this
clause provided. Thereupon the Issuer shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which shall be not more than 15 days and not less than 10 days prior to the Special Interest
Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Issuer shall promptly notify the Trustee of such Special Record Date and shall, or at the written request and in the name and expense
of the Issuer, the Trustee shall, cause notice of 

  
 -52-

 
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 12.1, not less
than 10 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 following clause (b).

 (b) The Issuer 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 notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause (b), such manner
of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section, 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 2.13. CUSIP Numbers. The Issuer in issuing the Notes may use “CUSIP” numbers (if then generally in use). The
Trustee shall not be responsible for the use of CUSIP numbers, and the Trustee makes no representation as to their correctness as printed on any Note or notice to Holders. The Issuer shall promptly notify the Trustee in writing of any change in the
CUSIP numbers. 
 SECTION 2.14. Record Date. The Record Date for purposes of determining the identity of Holders of the
Notes entitled to vote or consent to any action by vote or consent authorized or permitted under this Indenture shall be determined as provided for in TIA § 316(c). 
 ARTICLE III 
 Covenants 

SECTION 3.1. Payment of Notes. The Issuer 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 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 Issuer shall pay interest on overdue principal at the rate specified therefor in the Notes. 

Notwithstanding anything to the contrary contained in this Indenture, the Issuer may, to the extent it is 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. 

  
 -53-

 SECTION 3.2. Reports and Other Information. 

(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, the Issuer shall file with the SEC, and provide the Trustee with copies thereof:

 (i) within 90 days after the end of each fiscal year (or such longer period as may be permitted by the SEC if
the Issuer were then subject to such SEC reporting requirements as a non-accelerated filer), annual reports on Form 10-K (or any successor or comparable form) containing the information required to be contained therein (or required in such successor
or comparable form) including, without limitation, a management’s discussion and analysis of financial information, 
 (ii) within 45 days after the end of each of the first three fiscal quarters of each fiscal year (or such longer period as may be permitted by the SEC if the Issuer were then subject to such SEC reporting
requirements as a non-accelerated filer), quarterly reports on Form 10-Q containing the information required to be contained therein (or any successor or comparable form) including, without limitation, a management’s discussion and analysis of
financial information, and 
 (iii) within the time period specified for filing current reports on Form 8-K by
the SEC, such other reports on Form 8-K (or any successor or comparable form); 
 provided , however, that the Issuer shall not be
so obligated to file such reports with the SEC prior to the effectiveness of any registration statement pursuant to the Registration Rights Agreement, and pending which the Issuer shall, in addition to providing such information to the Trustee, make
available to the Holders, prospective investors, market makers affiliated with any Initial Purchaser and securities analysts such information by posting to its website or on IntraLinks or any comparable password-protected online data system, which
will require a confidentiality acknowledgement (but not restrict the recipients of such information in trading of securities of the Issuer or its affiliates), in each case within 15 days after the time the Issuer would be required to file such
information with the SEC if it were subject to Section 13 or 15(d) of the Exchange Act. Delivery of such 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). 
 (b) Notwithstanding the foregoing, prior to the effectiveness of the Exchange
Offer Registration Statement or Shelf Registration Statement with respect to the Notes, (a) the Issuer shall not be required to furnish any information, certificates or reports required by (i) Section 302 or Section 404 of the
Sarbanes-Oxley Act of 2002, or related Items 307 or 308 of Regulation S-K under the Securities Act, (ii) Item 10(e) of Regulation S-K under the Securities Act promulgated by the SEC with respect to any non-generally accepted accounting
principles financial measures contained therein, (iii) Rule 3-09 of Regulation S-X under the Securities Act or (iv) solely in respect of business combinations or acquisitions consummated prior to the Issue Date, Rule 3-05 of Regulation S-X
under the Securities Act, (b) such reports will not be required to contain the separate financial information for Guarantors or Subsidiaries whose securities are pledged to secure the notes contemplated by Rule 3-10 or Rule 3-16 of Regulation
S-X under the Securities Act, (c) to the extent pro forma financial information regarding the Transactions is required to be provided by the Issuer, the Issuer may provide only pro forma revenues, net income, income before
extraordinary items and the cumulative effect of accounting changes, EBITDA, Adjusted EBITDA, senior secured debt, total debt and capital expenditures in lieu thereof and (d) such reports shall not be required to present compensation or
beneficial ownership information. 

  
 -54-

 (c) For so long as the Issuer has designated certain of its Subsidiaries as Unrestricted
Subsidiaries, then the financial information required to be provided shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in the management’s discussion and analysis
of financial information, 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. 

(d) For the avoidance of doubt, other than with respect to the reports required under clause (a)(iii) above, the obligations of the
Issuer under this Section 3.2 shall commence with respect to the first quarter that ends after the Issue Date. With respect to the reports required under clause (a)(iii) above, the obligations of the Issuer under this covenant shall
commence on the Issue Date. 
 (e) 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. 

(f) Notwithstanding the foregoing, the Issuer shall be deemed to have furnished such reports referred to above to the Trustee and the
Holders if the Issuer or any direct or indirect parent of the Issuer (including Holdings) has filed such reports with the SEC via the EDGAR (or successor) filing system and such reports are publicly available; provided that, if the financial
information so furnished relates to such direct or indirect parent of the Issuer (including Holdings), the same is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such
parent, on the one hand, and the information relating to the Issuer and the Restricted Subsidiaries on a standalone basis, on the other hand. 
 (g) Notwithstanding the foregoing, the requirement to provide the information and reports referred to in Sections 3.2(a)(i), (ii) and (iii) shall be deemed satisfied prior
to the commencement of the Exchange Offer or the effectiveness of a Shelf Registration Statement relating to the registration of the Notes under the Securities Act by the filing (within the time periods specified for such filings in the Registration
Rights Agreement), prior to the time the filing referred to in clause (a) above would otherwise be required, with the SEC of a registration statement, and any amendments thereto, with such financial information that satisfies Regulation S-X
under the Securities Act. 
 (h) So long as Notes are outstanding, the Issuer shall also: 

(i) as promptly as reasonably practicable after furnishing to the Trustee the annual and quarterly reports required by
Sections 3.2(a)(i) and (ii), hold a conference call to discuss such reports and the results of operations for the relevant reporting period; and 
 (ii) post to its website or on IntraLinks or any comparable password-protected online data system, which shall require a confidentiality acknowledgment (but not restrict the recipients of such information
in trading of securities of the Issuer or its affiliates), prior to the date of the conference call required to be held in accordance with Section 3.2(h)(i), announcing the time and date of such conference call and either including all
information necessary to access the call or informing Holders of Notes, prospective investors, market makers affiliated with any Initial Purchaser and securities analysts how they can obtain such information, including, without limitation, the
applicable password or other login information. 

  
 -55-

 SECTION 3.3. Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock
and Preferred Stock. 
 (a) (1) the Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (2) the Issuer shall not permit any of its Restricted Subsidiaries to issue any shares of Preferred Stock;
provided , however, that the Issuer and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in each
case if the Fixed Charge Coverage Ratio of the Issuer and its Restricted Subsidiaries for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional
Indebtedness is Incurred or such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional
Indebtedness had been Incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period; provided, further,
that the aggregate amount of Indebtedness (including Acquired Indebtedness) that may be Incurred and Disqualified Stock or Preferred Stock that may be issued pursuant to the foregoing by Restricted Subsidiaries that are not Guarantors of the Notes
shall not exceed the greater of (x) $100.0 million and (y) 3.25% of Total Assets at the time of Incurrence, at any one time outstanding. 
 (b) The foregoing limitations will not apply to (collectively, “Permitted Debt”): 
 (i) the Incurrence by the Issuer or its Restricted Subsidiaries of Indebtedness under any Credit Agreement, the guarantees thereof and the issuance and creation of letters of credit and bankers’
acceptances thereunder (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof) up to an aggregate principal amount not to exceed $1,375.0 million outstanding at any one time;

 (ii) the Incurrence by the Issuer and the Guarantors of Indebtedness represented by the Notes (not including
any Additional Notes) and the Guarantees thereof, as applicable (and any Exchange Notes and Guarantees thereof); 

(iii) Indebtedness of Buccaneer, Syniverse or any of its Restricted Subsidiaries existing on the Issue Date (other than
Indebtedness described in clause (i) or (ii)); 
 (iv) Indebtedness (including, without limitation,
Capitalized Lease Obligations and mortgage financings as purchase money obligations) Incurred by the Issuer or any of its Restricted Subsidiaries, Disqualified Stock issued by the Issuer or any of its Restricted Subsidiaries and Preferred Stock
issued by any Restricted Subsidiaries of the Issuer to finance all or any part of the purchase, lease, construction, installation, repair or improvement of property (real or personal), plant or equipment or other fixed or capital assets used or
useful in the business of the Issuer or its Restricted Subsidiaries or in a Similar Business (whether through the direct purchase of assets or the Capital Stock of any Person owning such assets) in an aggregate principal amount or liquidation
preference, including all Indebtedness Incurred and Disqualified Stock or Preferred Stock issued to renew, refund, refinance, replace, defease or discharge any Indebtedness Incurred and Disqualified Stock or Preferred Stock issued pursuant to this
clause (iv), not to exceed the greater of (x) $75.0 million and (y) 2.5% of Total Assets at the time of Incurrence, at any one time outstanding; 

  
 -56-

 (v) Indebtedness Incurred by the Issuer or any of its Restricted
Subsidiaries constituting reimbursement obligations with respect to letters of credit and bank guarantees issued in the ordinary course of business, including without limitation letters of credit in respect of workers’ compensation claims,
health, disability or other employee benefits (whether current or former) or property, casualty or liability insurance or self-insurance, or other Indebtedness with respect to reimbursement-type obligations regarding workers’ compensation
claims; provided, however, that upon the drawing of such letters of credit, such obligations are reimbursed within 30 days following such drawing; 
 (vi) Indebtedness arising from indemnification, adjustment of purchase price or similar obligations, in each case, Incurred in connection with the disposition of any business, assets or a Subsidiary of
the Issuer in accordance with the terms of this Indenture not exceeding the proceeds of such disposition, other than guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the
purpose of financing such acquisition; 
 (vii) Indebtedness of the Issuer to a Restricted Subsidiary;
provided that (x) such Indebtedness shall be subordinated to the Issuer’s Obligations with respect to the Notes and (y) any subsequent issuance or transfer of any Capital Stock or any other event which results in any such
Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness not
permitted by this clause (vii); 
 (viii) shares of Preferred Stock of a Restricted Subsidiary issued to the
Issuer or another Restricted Subsidiary; provided that any subsequent issuance or transfer of any Capital Stock or any other event that results in any Restricted Subsidiary that holds such shares of Preferred Stock of another Restricted
Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred
Stock not permitted by this clause (viii); 
 (ix) Indebtedness of a Restricted Subsidiary to the Issuer or
another Restricted Subsidiary; provided that (x) if a Guarantor Incurs such Indebtedness to a Restricted Subsidiary that is not a Guarantor such Indebtedness is subordinated in right of payment to the Guarantee of such Guarantor and
(y) any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary lending such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness
(except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause (ix); 

(x) Hedging Obligations that are Incurred in the ordinary course of business (and not for speculative purposes):
(1) for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (2) for the purpose of fixing or hedging currency exchange rate risk with
respect to any currency exchanges; or (3) for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases; 

  
 -57-

 (xi) obligations (including reimbursement obligations with respect to
letters of credit and bank guarantees) in respect of performance, bid, appeal and surety bonds and completion guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice;

 (xii) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer and
Preferred Stock of any Restricted Subsidiary of the Issuer in an aggregate principal amount or liquidation preference that, when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock and
Preferred Stock then outstanding and Incurred pursuant to this clause (xii), does not exceed the greater of (x) $150.0 million and (y) 4.75% of Total Assets at the time of Incurrence, at any one time outstanding; 

(xiii) any guarantee by the Issuer or a Restricted Subsidiary of Indebtedness or other obligations of the Issuer or any of
its Restricted Subsidiaries so long as the Incurrence of such Indebtedness or other obligations by the Issuer or such Restricted Subsidiary Incurring such guarantee would be permitted under the terms of this Indenture; provided that if such
Indebtedness is by its express terms subordinated in right of payment to the Notes or the Guarantee of such Restricted Subsidiary, as applicable, any such guarantee of such Guarantor with respect to such Indebtedness shall be subordinated in right
of payment to such Guarantor’s Guarantee with respect to the Notes substantially to the same extent as such Indebtedness is subordinated to the Notes or the Guarantee of such Restricted Subsidiary, as applicable; 

(xiv) the Incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness or Disqualified Stock or
Preferred Stock of a Restricted Subsidiary of the Issuer that serves to refund, refinance, replace, redeem, repurchase, retire or defease any Indebtedness, Disqualified Stock or Preferred Stock Incurred as permitted under Section 3.3(a)
or Sections 3.3(b)(ii), (iii), (xiv), (xv) or (xviii) or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund or refinance such Indebtedness, Disqualified Stock or Preferred
Stock, including any additional Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums, defeasance costs and fees and expenses in connection therewith (subject to the following proviso, “Refinancing
Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing Indebtedness: 
 (1) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is Incurred that is not less than the remaining Weighted Average Life to Maturity of the Indebtedness being refunded,
refinanced, replaced, redeemed, repurchased or retired; 
 (2) has a Stated Maturity which is no earlier than the
Stated Maturity of the Indebtedness being refunded, refinanced, replaced, redeemed, repurchased or retired; 

(3) to the extent that such Refinancing Indebtedness refinances (i) Subordinated Indebtedness, such Refinancing
Indebtedness is Subordinated Indebtedness or (ii) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively; 

  
 -58-

 (4) is Incurred in an aggregate principal amount (or if issued with original
issue discount an aggregate issue price) that is equal to or less than the sum of (x) the aggregate principal amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced
plus (y) the amount of premium, defeasance costs and fees and expenses Incurred in connection with such refinancing; and 
 (5) shall not include (x) Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary of the Issuer that is not a Guarantor that refinances Indebtedness, Disqualified Stock or
Preferred Stock of the Issuer or a Guarantor, or (y) Indebtedness or Disqualified Stock of the Issuer or Indebtedness, Disqualified Stock or Preferred Stock of a Restricted Subsidiary that refinances Indebtedness, Disqualified Stock or
Preferred Stock of an Unrestricted Subsidiary; 
 (xv) Indebtedness, Disqualified Stock or Preferred Stock
(i) of the Issuer or any of its Restricted Subsidiaries Incurred to finance an acquisition and (ii) of Persons that are acquired by the Issuer or any of its Restricted Subsidiaries or merged into the Issuer or a Restricted Subsidiary in
accordance with the terms of this Indenture; provided, however, that after giving effect to such acquisition and the Incurrence of such Indebtedness, Disqualified Stock or Preferred Stock, either: 

(1) the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in the first paragraph of this covenant; or 
 (2) the Fixed Charge Coverage Ratio would be
greater than immediately prior to such acquisition; 
 (xvi) Indebtedness arising from 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, provided that such Indebtedness is extinguished within five Business Days of its Incurrence; 

(xvii) Indebtedness of the Issuer or any Restricted Subsidiary supported by a letter of credit or bank guarantee issued
pursuant to any Credit Agreement, so long as such letter of credit has not been terminated and in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; 

(xviii) Contribution Indebtedness; 

(xix) Indebtedness of the Issuer or any Restricted Subsidiary consisting of (x) the financing of insurance premiums
or (y) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; 
 (xx) Indebtedness of Foreign Subsidiaries of the Issuer in an amount not to exceed the greater of (x) $100.0 million and (y) 3.25% of Total Assets at the time of such Incurrence, at any one time
outstanding; 

  
 -59-

 (xxi) Indebtedness of a Restricted Subsidiary that is not a Wholly Owned
Subsidiary to holders of Equity Interests of such Restricted Subsidiary (other than the Issuer and/or its Restricted Subsidiaries), so long as the percentage of the aggregate amount of such Indebtedness of such Restricted Subsidiary owed to such
holders does not exceed the percentage of the aggregate outstanding amount of the Equity Interests of such Restricted Subsidiary held by such holders; 
 (xxii) Indebtedness Incurred by a Receivables Subsidiary in a Qualified Receivables Financing that is not recourse to the Issuer or any Restricted Subsidiary other than a Receivables Subsidiary (except
for Standard Securitization Undertakings); 
 (xxiii) Indebtedness owed on a short-term basis to banks and other
financial institutions Incurred in the ordinary course of business of the Issuer and the Restricted Subsidiaries with such banks or financial institutions that arises in connection with ordinary banking arrangements to manage cash balances of the
Issuer and the Restricted Subsidiaries; 
 (xxiv) Indebtedness consisting of Indebtedness issued by the Issuer or
any Restricted Subsidiary to future, current or former officers, directors and employees thereof or any direct or indirect parent thereof, their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of
Equity Interests of the Issuer or any direct or indirect parent company of the Issuer to the extent described in Section 3.4(b)(iv); 
 (xxv) customer deposits and advance payments received in the ordinary course of business from customers for goods purchased in the ordinary course of business; 

(xxvi) Indebtedness incurred by a Restricted Subsidiary in connection with bankers’ acceptances, discounted bills of
exchange or the discounting or factoring of receivables for credit management purposes, in each case incurred or undertaken in the ordinary course of business on arm’s-length commercial terms; 

(xxvii) Indebtedness incurred by the Issuer or any Restricted Subsidiary to the extent that the net proceeds thereof are
promptly deposited with the Trustee to satisfy and discharge the Notes in accordance with this Indenture; 

(xxviii) guarantees incurred in the ordinary course of business in respect of obligations to suppliers, customers,
franchisees, lessors and licensees that, in each case, are not Affiliates; 
 (xxix) the incurrence by the Issuer
or any Restricted Subsidiary of Indebtedness consisting of guarantees of Indebtedness incurred by Permitted Joint Ventures; provided that the aggregate principal amount of Indebtedness Guaranteed pursuant to this clause (xxix) does not
at any one time outstanding exceed $25.0 million; and 
 (xxx) Indebtedness, Disqualified Stock or Preferred
Stock of the Issuer or a Restricted Subsidiary incurred to finance or assumed in connection with an acquisition in a principal amount not to exceed $100.0 million in the aggregate at any one time outstanding together with all other Indebtedness,
Disqualified Stock and/or Preferred Stock issued under this clause (xxx). 
 For purposes of determining compliance with this
Section 3.3, in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) meets the criteria of more than one of the categories of Permitted Debt or is entitled to be Incurred pursuant to the
first paragraph of 

  
 -60-

 
this covenant, the Issuer shall, in its sole discretion, at the time of Incurrence, divide, classify or reclassify, or at any later time divide, classify or reclassify, such item of Indebtedness,
Disqualified Stock or Preferred Stock (or any portion thereof) in any manner that complies with this covenant; provided that all Indebtedness under the Senior Credit Agreement shall be deemed to have been Incurred pursuant to clause
(a) and the Issuer shall not be permitted to reclassify all or any portion of Indebtedness Incurred pursuant to clause (a). 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, the payment of dividends on Disqualified Stock or Preferred Stock in the form of additional shares of Disqualified Stock or Preferred Stock of the same class, the accretion of
liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for
purposes of this covenant. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness that are otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of
such amount of Indebtedness, provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this covenant. 

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
or first Incurred (whichever yields the lower U.S. dollar-equivalent), 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 the principal amount of such Indebtedness being refinanced. 
 SECTION 3.4. Limitation on Restricted Payments. 
 (a) The Issuer shall not,
and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (i) declare or pay any
dividend or make any distribution on account of the Issuer’s or any of its Restricted Subsidiaries’ Equity Interests, including any payment made in connection with any merger or consolidation involving the Issuer (other than
(A) dividends or distributions by the Issuer payable solely in Equity Interests (other than Disqualified Stock) of the Issuer; or (B) dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or
distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend
or distribution in accordance with its Equity Interests in such class or series of securities); 
 (ii) purchase
or otherwise acquire or retire for value any Equity Interests of the Issuer or Holdings or any other direct or indirect parent of the Issuer; 

  
 -61-

 (iii) make any principal payment on, or redeem, repurchase, defease or
otherwise acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness (other than the payment, redemption, repurchase, defeasance, acquisition or retirement of (A) Subordinated
Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement and
(B) Indebtedness permitted under clauses (vii) or (ix) of the definition of “Permitted Debt”; or 
 (iv) make any Restricted Investment; 
 (all such payments and other actions set forth in clauses
(i) through (iv) above being collectively referred to as “Restricted Payments”), unless, at the time of such Restricted Payment: 
 (A) no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; 
 (B) immediately after giving effect to such transaction on a pro forma basis, the Issuer could Incur $1.00 of additional Indebtedness under Section 3.3(a); and 

(C) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Issuer and
its Restricted Subsidiaries after the Issue Date (including Restricted Payments permitted by clauses (1) and (8) of the next succeeding paragraph, but excluding all other Restricted Payments permitted by the next succeeding paragraph), is
less than the sum of, without duplication; 
 (1) 100% of the EBITDA of the Issuer for the period (taken as one
accounting period) from January 1, 2011 to the end of the Issuer’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment less the product of 1.4 times the
Consolidated Interest Expense of the Issuer for the same period; plus 
 (2) 100% of the aggregate net
proceeds, including cash and the Fair Market Value of assets other than cash, received by the Issuer after the Issue Date from the issue or sale of Equity Interests of the Issuer (other than Excluded Equity), including such Equity Interests issued
upon exercise of warrants or options; plus 
 (3) 100% of the aggregate amount of contributions to the
capital of the Issuer received in cash and the Fair Market Value of assets other than cash after the Issue Date (other than Excluded Equity); plus 
 (4) the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the case may be, of any Disqualified Stock, in each case, of the Issuer or any Restricted
Subsidiary thereof issued after the Acquisition Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer or any Restricted Subsidiary (other than to
the extent such employee stock ownership plan or trust has been funded by the Issuer or any Restricted Subsidiary)) that, in each case, has been converted into or exchanged for Equity Interests in the Issuer or Holdings or any other direct or
indirect parent of the Issuer (other than Excluded Equity); plus 

  
 -62-

 (5) 100% of the aggregate amount received by the Issuer or any Restricted
Subsidiary in cash and the Fair Market Value of assets other than cash received by the Issuer or any Restricted Subsidiary from: 
 (A) the sale or other disposition (other than to the Issuer or a Subsidiary of the Issuer) of Restricted Investments made by the Issuer and its Restricted Subsidiaries and from repurchases and redemptions
of such Restricted Investments from the Issuer and its Restricted Subsidiaries by any Person (other than the Issuer or any of its Subsidiaries) and from repayments of loans or advances which constituted Restricted Investments (other than in each
case to the extent that the Restricted Investment was made pursuant to Section 3.4(b)(x)); 
 (B)
the sale (other than to the Issuer or a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer or any Restricted Subsidiary (other than to the extent such employee stock ownership plan or trust has been funded
by the Issuer or any Restricted Subsidiary)) of the Capital Stock of an Unrestricted Subsidiary; or 
 (C) any
distribution or dividend from an Unrestricted Subsidiary (to the extent such distribution or dividend is not already included in the calculation of Consolidated Net Income); plus  

(6) in the event any Unrestricted Subsidiary of the Issuer has been redesignated as a Restricted Subsidiary or has been
merged or consolidated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer, in each case after the Acquisition Date, the Fair Market Value of the Investment of the Issuer in
such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after deducting any Indebtedness associated with the Unrestricted Subsidiary so designated or combined
or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made pursuant to Section 3.4(b)(x) or constituted
a Permitted Investment). 
 (b) The provisions of Section 3.4(a) shall not prohibit: 

(i) the payment of any dividend or distribution or consummation of any irrevocable redemption within 60 days after the
date of declaration thereof or the giving of a redemption notice related thereto, if at the date of declaration or notice such payment would have complied with the provisions of this Indenture; 

(ii) (a) the redemption, repurchase, retirement or other acquisition of any Equity Interests (“Retired
Capital Stock”) of the Issuer or Holdings or any other direct or indirect parent of the Issuer, or Subordinated Indebtedness of the Issuer or any Guarantor, in exchange for, or out of the proceeds of the substantially concurrent sale of,
Equity Interests of the Issuer or Holdings or any other direct or indirect parent of the Issuer or contributions to the equity capital of the Issuer (other than Excluded Equity) (collectively, including any such contributions, “Refunding
Capital Stock”); 

  
 -63-

 (b) the declaration and payment of accrued dividends on the Retired Capital
Stock out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock; and

 (c) if immediately prior to the retirement of the Retired Capital Stock, the declaration and payment of
dividends thereon was permitted under clause (6) of this paragraph and has not been made as of such time (the “Unpaid Amount”), 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 Equity Interests of Issuer or Holdings or any other direct or indirect parent) in an aggregate amount no greater than the Unpaid Amount; 

(iii) the redemption, repurchase or other acquisition or retirement of Subordinated Indebtedness of the Issuer or any
Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, Refinancing Indebtedness thereof; 
 (iv) the purchase, retirement, redemption or other acquisition (or dividends to Holdings or any other direct or indirect parent of the Issuer to finance any such purchase, retirement, redemption or other
acquisition) for value of Equity Interests of the Issuer or Holdings or any other direct or indirect parent of the Issuer held by any future, present or former employee, director or consultant of the Issuer or Holdings or any other direct or
indirect parent of the Issuer or any Subsidiary of the Issuer (or their permitted transferees) pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement;
provided, however, that the aggregate amounts paid under this clause (iv) shall not exceed (x) $10.0 million in any calendar year or (y) subsequent to the consummation of an underwritten public Equity Offering of common
stock of the Issuer or Holdings or any other direct or indirect parent of the Issuer or any Subsidiary of the Issuer (an “IPO”), $20.0 million in any calendar year (with unused amounts in any calendar year being permitted to be
carried over for the next two succeeding calendar years up to a maximum of (1) $15.0 million in the aggregate in any calendar year or (2) subsequent to the consummation of an IPO, $25.0 million in any calendar year); provided,
further, however, that such amount in any calendar year may be increased by an amount not to exceed; 

(a) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries from the sale of Equity Interests of
the Issuer or Holdings or any other direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to members of management, directors or consultants of the Issuer and its Restricted Subsidiaries or Holdings or any other direct or
indirect parent of the Issuer that occurs after the Issue Date, other than in connection with, or pursuant to, the Equity Contribution; provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other
acquisition or dividend will not increase the amount available for Restricted Payments under Section 3.4(a)(C)); plus 
 (b) the cash proceeds of key man life insurance policies received by the Issuer or Holdings or any other direct or indirect parent of the Issuer (to the extent contributed to the Issuer) and its
Restricted Subsidiaries after the Issue Date; plus 

  
 -64-

 (c) the amount of any cash bonuses otherwise payable to members of
management, directors or consultants of the Issuer and its Restricted Subsidiaries or Holdings or any other direct or indirect parent of the Issuer in connection with the Transactions that are foregone in return for the receipt of Equity Interests;
less 
 (d) the amount of cash proceeds described in clause (a) or (b) of this clause
(iv) previously used to make Restricted Payments pursuant to this clause (iv)
 (provided that the Issuer may elect
to apply all or any portion of the aggregate increase contemplated by clauses (a) and (b) above in any calendar year); in addition, cancellation of Indebtedness owing to the Issuer from any current or former officer, director or employee
(or any permitted transferees thereof) of the Issuer or any of its Restricted Subsidiaries (or any direct or indirect parent company thereof), in connection with a repurchase of Equity Interests of the Issuer from such Persons will not be deemed to
constitute a Restricted Payment for purposes of this covenant or any other provisions of this Indenture; 
 (v)
the declaration and payment of dividends or distributions to holders of any class or series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries and any Preferred Stock of any Restricted Subsidiaries issued or Incurred in
accordance with Section 3.3; 
 (vi) the declaration and payment of dividends or distributions to
holders of any class or series of Designated Preferred Stock and the declaration and payment of dividends to Holdings or any other direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends to
holders of any class or series of Designated Preferred Stock of Holdings or any other direct or indirect parent of the Issuer issued after the Acquisition Date; provided, however, that (A) for the most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro forma
basis, the Fixed Charge Coverage Ratio of the Issuer and its Restricted Subsidiaries would have been at least 2.00 to 1.00 and (B) the aggregate amount of dividends declared and paid pursuant to this clause (vi) does not exceed the net
cash proceeds actually received by the Issuer from the sale (or the contribution of the net cash proceeds from the sale) of Designated Preferred Stock; 
 (vii) any Restricted Payments made in connection with the consummation of the Transactions or as contemplated by the Merger Agreement, including any payments or loans made to Holdings or any other direct
or indirect parent to enable it to make any such payments, and the satisfaction and discharge of Syniverse’s Existing Notes, in each case, as described in or contemplated by the Offering Circular; 

(viii) the declaration and payment of dividends on the Issuer’s common stock (or the payment of dividends to Holdings
or any other direct or indirect parent of the Issuer to fund the payment by Holdings or any other direct or indirect parent of the Issuer of dividends on such entity’s common stock) of up to 6.0% per annum of the net cash proceeds received
by the Issuer from any public offering of common stock or contributed to the Issuer by Holdings or any other direct or indirect parent of the Issuer from any public offering of common stock; 

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

  
 -65-

 (x) other Restricted Payments in an aggregate amount not to exceed the
greater of (x) $75.0 million and (y) 2.5% of Total Assets, at the time of such Restricted Payment, at any one time outstanding; 
 (xi) the payment, purchase, redemption, defeasance or other acquisition or retirement for value of Subordinated Indebtedness, Disqualified Stock or Preferred Stock of the Issuer and its Restricted
Subsidiaries pursuant to provisions similar to those described under Sections 3.7 and 3.9; provided that, prior to such payment, purchase, redemption, defeasance or other acquisition or retirement for value, the Issuer (or a
third party to the extent permitted by this Indenture) has made a Change of Control Offer or Asset Sale Offer, as the case may be, with respect to the Notes as a result of such Change of Control or Asset Sale, as the case may be, and has repurchased
all Notes validly tendered and not withdrawn in connection with such Change of Control Offer or Asset Sale Offer, as the case may be; 
 (xii) for so long as the Issuer is a member of a group filing a consolidated or combined income tax return with Holdings or any other direct or indirect parent of the Issuer, the payment of dividends or
other distributions to Holdings or such other direct or indirect parent of the Issuer in amounts required for Holdings or such other parent company to pay federal, state and local income taxes imposed on such entity to the extent such income taxes
are attributable to the income of the Issuer and its Subsidiaries; provided, however, that (i) the amount of such payments in respect of any tax year does not, in the aggregate, exceed the amount that the Issuer and its
Subsidiaries that are members of such consolidated or combined group would have been required to pay in respect of federal, state and local income taxes (as the case may be) in respect of such year if the Issuer and its Subsidiaries paid such income
taxes directly as a stand-alone consolidated or combined income tax group (reduced by any such taxes paid directly by the Issuer or any Subsidiary) and (ii) the permitted payment pursuant to this clause (xii) with respect to any taxes
attributable to income of any Unrestricted Subsidiary for any taxable period shall be limited to the amount actually paid with respect to such period by such Unrestricted Subsidiary to the Issuer or any Restricted Subsidiary for the purposes of
paying such consolidated, combined or similar taxes; 
 (xiii) the payment of dividends, other distributions or
other amounts to, or the making of loans to Holdings or any other direct or indirect parent, in the amount required for such entity to, if applicable: 
 (a) pay amounts equal to the amounts required for Holdings or any other direct or indirect parent of the Issuer to pay fees and expenses (including franchise or similar taxes) required to maintain its
corporate existence, customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers and employees of Holdings or any other direct or indirect parent of the Issuer, if applicable, and general corporate
operating and overhead expenses of Holdings or any other direct or indirect parent of the Issuer, if applicable, in each case to the extent such fees, expenses, salaries, bonuses, benefits and indemnities are attributable to the ownership or
operation of the Issuer and its Subsidiaries; 
 (b) pay, if applicable, amounts equal to amounts required for
Holdings or any direct or indirect parent of Holdings to pay interest and/or principal on Indebtedness the proceeds of which have been contributed to the Issuer (other than as Excluded Equity) and that has been guaranteed by, and is otherwise
considered Indebtedness of, the Issuer or any Restricted Subsidiary Incurred in accordance with Section 3.3 (except to the extent any such payments have otherwise been made by any such guarantor); 

  
 -66-

 (c) pay fees and expenses incurred by Holdings or any other direct or
indirect parent, other than to Affiliates of the Issuer, related to any unsuccessful equity or debt offering of such parent; and 
 (d) make payments to the Sponsor (i) pursuant to the Management Agreement as in effect as of the Acquisition Date or as thereafter amended, supplemented or replaced (so long as not more
disadvantageous to the Holders of the Notes in any material respect than the Management Agreement as in effect on the Acquisition Date) or (ii) for any other financial advisory, financing, underwriting or placement services or in respect of
other investment banking activities, including, without limitation, in connection with acquisitions or divestitures, including in connection with the consummation of the Transactions, which payments are (x) made pursuant to agreements with the
Sponsor described in the Offering Circular or (y) approved by a majority of the Board of Directors of the Issuer in good faith; 
 (xiv) the payment of cash dividends or other distributions on the Issuer’s Capital Stock used to, or the making of loans to Holdings or any other direct or indirect parent of the Issuer to, fund the
payment of fees and expenses owed by the Issuer or Holdings or any other direct or indirect parent or Restricted Subsidiary of the Issuer, as the case may be, to Affiliates, in each case to the extent permitted by Section 3.8;

 (xv) (a) repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if
such Equity Interests represent a portion of the exercise price of such options or warrants and (b) in connection with the withholding of a portion of the Equity Interests granted or awarded to a director or an employee to pay for the taxes
payable by such director or employee upon such grant or award; 
 (xvi) purchases of receivables pursuant to a
Receivables Repurchase Obligation in connection with a Qualified Receivables Financing and the payment or distribution of Receivables Fees; 
 (xvii) payments or distributions to satisfy dissenters’ rights, pursuant to or in connection with a consolidation, merger or transfer of assets that complies with the provisions of this Indenture
applicable to mergers, consolidations and transfers of all or substantially all the property and assets of the Issuer; 
 (xviii) the distribution, as a dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to Holdings or a Restricted Subsidiary of Holdings by, Unrestricted Subsidiaries (other than
Unrestricted Subsidiaries the primary assets of which are cash and/or Cash Equivalents); 
 (xix) the payment of
cash in lieu of the issuance of fractional shares of Equity Interests upon exercise or conversion of securities exercisable or convertible into Equity Interests of the Issuer; and 

  
 -67-

 (xx) Investments in Unrestricted Subsidiaries having an aggregate Fair
Market Value, taken together with all other Investments made pursuant to this clause (xx) that are at the time outstanding, without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist
of cash or marketable securities, not to exceed the greater of $75.0 million and 2.5% of Total Assets at the time of such Investment. 

provided , however, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (iv), (vi), (viii),
(ix), (x), (xi), (xviii) and (xx) of this Section 3.4(b), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 

Notwithstanding the above, during the period beginning on the Issue Date and ending on the Acquisition Date, to the extent that Syniverse
or any of its Subsidiaries shall have made any payments or investments that would have qualified as Restricted Payments or Permitted Investments had the Indenture been applicable to Syniverse and its Subsidiaries during such period, such payments or
investments, as the case may be, shall be treated and classified under this Indenture (including, but not limited, for purposes of calculating the relevant baskets under this Section 3.4), as if this Indenture and this
Section 3.4 had applied to Syniverse and its Subsidiaries during such period; provided, that the consummation of the Transactions shall be permitted by this Indenture. 

As of the Issue Date and the Acquisition Date, all of the Issuer’s Subsidiaries shall be Restricted Subsidiaries. The Issuer shall
not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding
Investments by the Issuer and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments or Permitted Investments in an amount determined as set forth in the last sentence of
the definition of “Investments.” Such designation shall only be permitted if a Restricted Payment or Permitted Investment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an
Unrestricted Subsidiary. 
 For purposes of this Section 3.4, if any Investment or Restricted Payment would be
permitted pursuant to one or more provisions described above and/or one or more of the exceptions contained in the definition of “Permitted Investments,” the Issuer may divide and classify such Investment or Restricted Payment in any
manner that complies with this covenant and may later divide and reclassify any such Investment or Restricted Payment so long as the Investment or Restricted Payment (as so divided and/or reclassified) would be permitted to be made in reliance on
the applicable exception as of the date of such reclassification. 
 SECTION 3.5. Liens. 

(a) The Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create, Incur or suffer to exist any
Lien (other than Permitted Liens) on any asset or property of the Issuer or such Restricted Subsidiary, or any income or profits therefrom, or assign or convey any right to receive income therefrom, that secures any Obligations of the Issuer or such
Restricted Subsidiary, unless (1) in the case of Liens securing Subordinated Indebtedness, the Notes or any applicable Guarantee is secured by a Lien on such assets of the Issuer or such Restricted Subsidiary and proceeds thereof that is senior
in priority to such Liens; or (2) in all other cases, the Notes or the applicable Guarantee is equally and ratably secured with or prior to such Obligation with a Lien on the same assets of the Issuer or such Restricted Subsidiary, as the case
may be. 

  
 -68-

 (b) Any Lien which is granted to secure the Notes or such Guarantee under the preceding
paragraph shall be automatically released and discharged at the same time as the release of the Lien (other than a release following enforcement of remedies in respect of such Lien or the Obligations secured by such Lien) that gave rise to the
obligation to secure the Notes or such Guarantee under the preceding paragraph. 
 SECTION 3.6. Dividend and Other Payment
Restrictions Affecting Subsidiaries. The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or
consensual restriction on the ability of any Restricted Subsidiary to: 
 (a) (i) pay dividends or make any
other distributions to the Issuer or any of its Restricted Subsidiaries (1) on its Capital Stock or (2) with respect to any other interest or participation in, or measured by, its profits; or (ii) pay any Indebtedness owed to the
Issuer or any of its Restricted Subsidiaries; 
 (b) make loans or advances to the Issuer or any of its
Restricted Subsidiaries; or 
 (c) sell, lease or transfer any of its properties or assets to the Issuer or any
of its Restricted Subsidiaries; 
 except in each case for such encumbrances or restrictions existing under or by reason of: 

(i) contractual encumbrances or restrictions of Buccaneer, Syniverse or any of its Restricted Subsidiaries in effect on
the Issue Date, including pursuant to the Senior Credit Agreement and the other documents relating to the Senior Credit Agreement; 
 (ii) this Indenture, the Notes and any Exchange Notes and Guarantees thereof; 
 (iii) applicable law or any applicable rule, regulation or order; 

(iv) any agreement or other instrument of a Person acquired by the Issuer or any Restricted Subsidiary which was in
existence at the time of such acquisition (but not created in contemplation thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of
the Person, so acquired; 
 (v) customary encumbrances or restrictions contained in contracts or agreements for
the sale of assets applicable to such assets pending consummation of such sale, including customary restrictions with respect to a Restricted Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of all or
substantially all the Capital Stock or assets of such Restricted Subsidiary; 
 (vi) restrictions on cash or
other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 
 (vii) customary provisions in (x) joint venture agreements entered into in the ordinary course of business with respect to the Equity Interests subject to the joint venture and (y) operating or
other similar agreements, asset sale agreements, stock sale agreements entered into in connection with the entering into of such transaction, which limitation is applicable only to the assets that are the subject of those agreements; 

  
 -69-

 (viii) purchase money obligations for property acquired and Capitalized
Lease Obligations entered into in the ordinary course of business to the extent such obligations impose restrictions of the nature discussed in clause (c) above on the property so acquired; 

(ix) customary provisions contained in leases, licenses, contracts and other similar agreements entered into in the
ordinary course of business to the extent such obligations impose restrictions of the type described in clause (c) above on the property subject to such lease; 

(x) any encumbrance or restriction of a Receivables Subsidiary effected in connection with a Qualified Receivables
Financing; provided, however, that such restrictions apply only to such Receivables Subsidiary; 

(xi) other Indebtedness, Disqualified Stock or Preferred Stock of any Restricted Subsidiary of the Issuer that is Incurred
subsequent to the Issue Date pursuant to Section 3.3; provided that such encumbrances and restrictions contained in any agreement or instrument will not materially affect the Issuer’s ability to make anticipated principal or
interest payment on the Notes (as determined by the Issuer in good faith); 
 (xii) any encumbrance or
restriction contained in Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections 3.3 and 3.5 to the extent limiting the right of the debtor to dispose of the assets securing such Indebtedness; 

(xiii) any encumbrance or restriction arising or agreed to in the ordinary course of business, not relating to any
Indebtedness, and that do not, individually or in the aggregate, (x) detract from the value of the property or assets of the Issuer or any Restricted Subsidiary in any manner material to the Issuer or any Restricted Subsidiary or
(y) materially affect the Issuer’s ability to make future principal or interest payments on the Notes, in each case, as determined by the Issuer in good faith; 

(xiv) customary provisions in joint venture agreements and other similar agreements relating solely to the applicable
joint venture; 
 (xv) existing under, by reason of or with respect to Refinancing Indebtedness; provided
that the encumbrances and restrictions contained in the agreements governing that Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced;

 (xvi) applicable law or any applicable rule, regulation or order in any jurisdiction where Indebtedness,
Disqualified Stock or Preferred Stock of Foreign Subsidiaries permitted to be incurred pursuant to Section 3.3; and 
 (xvii) any encumbrances or restrictions imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or
obligations referred to in clauses (i) through (xvi) above; provided that any such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the
Issuer, no more restrictive as a whole with respect to the applicable encumbrance or restriction than prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

  
 -70-

 For purposes of determining compliance with this Section 3.6, (i) the
priority of any Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock
and (ii) the subordination of loans or advances made to the Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make
loans or advances. 
 SECTION 3.7. Asset Sales. 
 (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an Asset Sale, unless: 

(i) the Issuer or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset
Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the assets sold or otherwise disposed of; and 
 (ii) except in the case of a Permitted Asset Swap, at least 75% of the consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash
Equivalents or Replacement Assets; provided, however that the amount of: 
 (1) any liabilities (as
shown on the Issuer’s or such Restricted Subsidiary’s most recent balance sheet or in the notes thereto) of the Issuer or such Restricted Subsidiary (other than liabilities that are by their terms subordinated to the Notes) that are
assumed by the transferee of any such assets or Equity Interests pursuant to an agreement that releases or indemnifies the Issuer or such Restricted Subsidiary, as the case may be, from further liability; 

(2) any Notes or other obligations or other securities or assets received by the Issuer or such Restricted Subsidiary from
such transferee that are converted by the Issuer or such Restricted Subsidiary into cash within 180 days of the receipt thereof (to the extent of the cash received); and 

(3) any Designated Non-cash Consideration received by the Issuer or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received pursuant to this clause (c) that is at that time outstanding, not to exceed the greater of (x) $75.0 million and (y) 2.5%
of Total Assets, at the time of the receipt of such Designated Non-cash Consideration (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); 
 shall each be deemed to be Cash Equivalents for the purposes of this clause (2). 

  
 -71-

 (b) Within 365 days after the Issuer’s or any Restricted Subsidiary’s receipt of
the Net Cash Proceeds of any Asset Sale, the Issuer or such Restricted Subsidiary may apply the Net Cash Proceeds from such Asset Sale, at its option: 
 (i) to permanently reduce Obligations under any Secured Indebtedness and, in the case of revolving obligations thereunder, to correspondingly reduce commitments with respect thereto; 

(ii) to permanently reduce Obligations under (x) other Pari Passu Indebtedness of the Issuer or the Guarantors
(provided that if the Issuer or any Guarantor shall so reduce such Obligations under such other Pari Passu Indebtedness, the Issuer shall equally and ratably reduce Obligations under the Notes if the Notes are then redeemable at par or, if
the Notes are not redeemable at par, by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase at a purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid
interest and additional interest, if any, the pro rata principal amount of Notes that would otherwise be redeemed) or (y) Indebtedness of a Restricted Subsidiary that is not a Guarantor, in each case, other than Indebtedness owed to the Issuer
or an Affiliate of the Issuer (provided that in the case of any reduction of any revolving obligations pursuant to this clause (ii), the Issuer or such Restricted Subsidiary shall effect a corresponding reduction of commitments with respect
thereto); 
 (iii) to make an Investment in any one or more businesses (provided that if such investment
is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), assets, or property or capital expenditures, in each case used or useful in a Similar Business;

 (iv) to make an Investment in any one or more businesses (provided that if such Investment is in the
form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), properties or assets that replace the properties and assets that are the subject of such Asset Sale; or

 (v) any combination of the foregoing; 
 provided that the Issuer and its Restricted Subsidiaries shall be deemed to have complied with the provisions described in clauses (iii) and (iv) of this Section 3.7(b) if and
to the extent that, within 365 days after the Asset Sale that generated the Net Cash Proceeds, the Issuer has entered into and not abandoned or rejected a binding agreement to acquire the assets or Capital Stock of a Similar Business, make an
Investment in Replacement Assets or make a capital expenditure in compliance with the provision described in clauses (iii) and (iv) of this Section 3.7(b), and that acquisition, purchase or capital expenditure is thereafter
completed within 180 days after the end of such 365-day period. 
 (c) Pending the final application of any such Net Cash
Proceeds, the Issuer or such Restricted Subsidiary of the Issuer may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Cash Proceeds in Cash Equivalents. Any Net Cash Proceeds from any Asset Sale
that are not applied as provided and within the time period set forth in Section 3.7(b) will be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $30.0 million, the Issuer shall
make an offer (an “Asset Sale Offer”) to all Holders of Notes and to all holders of other Pari Passu Indebtedness containing provisions similar to those set forth in this Indenture with respect to Asset Sales, to purchase the
maximum principal amount of such Notes and Pari Passu Indebtedness, as appropriate, on a pro rata basis, that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof (or in the
event such other Indebtedness was issued with original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest and additional interest, if any (or such lesser price, if any, as may be provided by the

  
 -72-

 
terms of such other Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Indenture. The Issuer will commence an Asset Sale Offer
with respect to Excess Proceeds within ten Business Days after the date that Excess Proceeds exceed $30.0 million by mailing the notice required pursuant to the terms of this Indenture, with a copy to the Trustee. To the extent that the aggregate
amount of Notes and such other Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate
principal amount of Notes and Pari Passu Indebtedness, as appropriate, surrendered by holders thereof exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and the Issuer or its agent shall select such other Indebtedness to be
purchased in the manner described below. Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. 
 (d) The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations to the extent such laws or regulations are applicable in connection
with the purchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the Issuer shall comply with the applicable securities laws and
regulations and shall not be deemed to have breached its obligations under the Asset Sale provisions of this Indenture by virtue of such compliance. 
 (e) If more Notes are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase, selection of such Notes for purchase will be made in compliance with the requirements of the
principal national securities exchange, if any, on which such Notes are listed, or if such Notes are not listed, on a pro rata basis (and in such manner as complies with applicable legal requirements); provided, that the selection of Notes
for purchase shall not result in a Holder with a principal amount of Notes less than the minimum denomination to the extent practicable. 
 (f) Notices of an Asset Sale Offer shall be mailed by first class mail, postage prepaid, or sent electronically, at least 30 but not more than 60 days before the purchase date to each Holder of Notes at
such Holder’s registered address or otherwise in accordance with DTC procedures. If any Note is to be purchased in part only, any notice of purchase that relates to such Note shall state the portion of the principal amount thereof that has been
or is to be purchased. 
 A new Note in principal amount equal to the unpurchased portion of any Note purchased in part will be
issued in the name of the Holder thereof upon cancellation of the original Note. On and after the purchase date, unless the Issuer defaults in payment of the purchase price, interest shall cease to accrue on Notes or portions thereof purchased.

 SECTION 3.8. Transactions with Affiliates. 
 (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or
assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer
(each of the foregoing, an “Affiliate Transaction”) involving aggregate consideration in excess of $20.0 million, unless: 
 (i) such Affiliate Transaction is on terms that are not materially less favorable to the Issuer or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction
by the Issuer or such Restricted Subsidiary with an unrelated Person; and 

  
 -73-

 (ii) with respect to any Affiliate Transaction or series of related
Affiliate Transactions involving aggregate consideration in excess of $50.0 million, the Issuer delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Issuer, approving such Affiliate Transaction
and set forth in an Officer’s Certificate certifying that such Affiliate Transaction complies with clause (a) above. 

(b) The provisions of Section 3.8(a) will not apply to the following: 

(i) (a) transactions between or among the Issuer and/or any of its Restricted Subsidiaries (or an entity that becomes
a Restricted Subsidiary as a result of such transaction) and (b) any merger or consolidation of the Issuer and Holdings or any other direct parent of the Issuer, provided that such parent company shall have no material liabilities and no
material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger or consolidation is otherwise in compliance with the terms of this Indenture and effected for a bona fide business purpose; 

(ii) (a) Restricted Payments permitted by this Indenture and (b) Permitted Investments; 

(iii) any employment agreements entered into by the Issuer or any of its Restricted Subsidiaries in the ordinary course of
business and the payment of reasonable and customary fees and reimbursements paid to, and indemnity and similar arrangements provided on behalf of, officers, directors, employees or consultants of the Issuer or any Restricted Subsidiary or Holdings
or (to the extent relating to the business of the Issuer and its Subsidiaries) any other direct or indirect parent of the Issuer; 
 (iv) transactions in which the Issuer or any of its Restricted Subsidiaries, 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 clause (a) of the preceding paragraph; 
 (v) payments or loans (or cancellation of loans, advances or guarantees) or advances to employees or consultants or guarantees in respect thereof for bona fide business purposes in the ordinary course of
business; 
 (vi) any agreement as in effect as of the Acquisition Date (other than the Management Agreement) or
as thereafter amended, supplemented or replaced (so long as such amendment, supplement or replacement agreement is not more disadvantageous to the Holders of the Notes in any material respect than the original agreement as in effect on the
Acquisition Date) or any transaction or payments contemplated thereby; 
 (vii) the Management Agreement as in
effect as of the Acquisition Date or as thereafter amended, supplemented or replaced (so long as such amendment, supplement or replacement agreement is not more disadvantageous to the Holders of the Notes in any material respect than the Management
Agreement as in effect on the Acquisition Date) or any transaction or payments (including reimbursement of out-of-pocket expenses) contemplated thereby; 

  
 -74-

 (viii) the existence of, or the performance by the Issuer or any of its
Restricted Subsidiaries of its obligations under the terms of, the Merger Agreement, any stockholders or similar agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the
Acquisition Date and any amendment thereto or similar transactions, arrangements or agreements which it may enter into thereafter; provided, however, that the existence of, or the performance by the Issuer or any of its Restricted
Subsidiaries of its obligations under, any future amendment to any such existing transaction, arrangement or agreement or under any similar transaction, arrangement or agreement entered into after the Acquisition Date shall only be permitted by this
clause (viii) to the extent that the terms of any such existing transaction, arrangement or agreement together with all amendments thereto, taken as a whole, or new agreement are not otherwise more disadvantageous to the Holders of the Notes in
any material respect than the original transaction, arrangement or agreement as in effect on the Acquisition Date; 
 (ix) (a) transactions with customers, clients, suppliers or purchasers or sellers of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of
this Indenture, which are fair to the Issuer and its Restricted Subsidiaries in the reasonable determination of the Board of Directors or the senior management of the Issuer, and are on terms at least as favorable as might reasonably have been
obtained at such time from an unaffiliated party or (b) transactions with Unrestricted Subsidiaries in the ordinary course of business; 
 (x) any transaction effected as part of a Qualified Receivables Financing; 
 (xi) the sale or issuance of Equity Interests (other than Disqualified Stock) of the Issuer; 
 (xii) payments by the Issuer or any of its Restricted Subsidiaries to the Sponsor or any of its Affiliates made for any financial advisory, financing, underwriting or placement services or in respect of
other investment banking activities, including, without limitation, in connection with acquisitions or divestitures, which payments are (x) made pursuant to agreements with the Sponsor described in the Offering Circular or (y) approved by
a majority of the Board of Directors of the Issuer in good faith; 
 (xiii) any contribution to the capital of
the Issuer (other than Disqualified Stock); 
 (xiv) any transaction with a Person (other than an Unrestricted
Subsidiary) that would constitute an Affiliate Transaction solely because the Issuer or a Restricted Subsidiary owns an Equity Interest in or otherwise controls such Person; provided that no Affiliate of the Issuer or any of its Subsidiaries
other than the Issuer or a Restricted Subsidiary shall have a beneficial interest or otherwise participate in such Person; 
 (xv) transactions between the Issuer or any of its Restricted Subsidiaries and any Person, a director of which is also a director of the Issuer or Holdings or any other direct or indirect parent of the
Issuer; provided, however, that such director abstains from voting as a director of the Issuer or such direct or indirect parent of the Issuer, as the case may be, on any matter involving such other Person; 

(xvi) the entering into of any tax sharing agreement or arrangement and any payments permitted by
Section 3.4(b)(xii); 

  
 -75-

 (xvii) transactions to effect the Transactions and the payment of all
transaction, underwriting, commitment and other fees and expenses related to the Transactions; 
 (xviii) pledges
of Equity Interests of Unrestricted Subsidiaries; 
 (xix) the issuances of securities or other payments, awards
or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Issuer or of a Restricted
Subsidiary of the Issuer, as appropriate, in good faith; 
 (xx) any employment, consulting, service or
termination agreement, or customary indemnification arrangements, entered into by the Issuer or any of its Restricted Subsidiaries with current, former or future officers and employees of the Issuer, Holdings or any of their respective Restricted
Subsidiaries and the payment of compensation to officers and employees of the Issuer, Holdings or any of their respective Restricted Subsidiaries (including amounts paid pursuant to employee benefit plans, employee stock option or similar plans), in
each case in the ordinary course of business; 
 (xxi) transactions with Affiliates solely in their capacity as
holders of Indebtedness or preferred Equity Interests of the Issuer or any of its Subsidiaries, so long as such transaction is with all holders of such class (and there are such non-Affiliate holders) and such Affiliates are treated no more
favorably than all other holders of such class generally; 
 (xxii) the existence of, or the performance by the
Issuer or any of its Restricted Subsidiaries of their obligations under the terms of, any customary registration rights agreement to which they are a party or become a party in the future; and 

(xxiii) investments by the Sponsor in securities of the Issuer or any Restricted Subsidiary (and payment of reasonable
out-of-pocket expenses incurred by the Sponsor in connection therewith). 
 SECTION 3.9. Change of Control. 

(a) Upon the occurrence of a Change of Control, each Holder will have the right to require the Issuer to purchase all or any part of such
Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest and additional interest, if any, to the date of purchase (subject to the right of Holders of record on the relevant
record date to receive interest due on the relevant interest payment date), except to the extent the Issuer has previously elected to redeem the Notes pursuant to Article V of this Indenture. 

(b) Within 30 days following any Change of Control, except to the extent that the Issuer has exercised its right to redeem the Notes as
described under Section 5.1 , the Issuer shall mail a notice (a “Change of Control Offer”) to each Holder with a copy to the Trustee describing: 

(i) that a Change of Control has occurred and that such Holder has the right to require the Issuer to purchase such
Holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the date of purchase (subject to the right of Holders of record on a record date to
receive interest on the relevant interest payment date); 

  
 -76-

 (ii) the transaction or transactions that constitute such Change of Control;

 (iii) the purchase date (which shall be no earlier than 30 days nor later than 60 days from the date such
notice is mailed); and 
 (iv) the instructions determined by the Issuer, consistent with this covenant, that a
Holder must follow in order to have its Notes purchased. 
 (c) Holders electing to have a Note purchased shall be required to
surrender the Note, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the Trustee or the
Issuer receives not later than one Business Day prior to the purchase date, a telegram, telex facsimile transmission or letter setting forth the name of the Holder, the principal amount at maturity of the Note which was delivered for purchase by the
Holder and a statement that such Holder is withdrawing his selection to have such Note purchased. 
 (d) On the purchase date,
all Notes purchased by the Issuer under this Section 3.9 shall be delivered by the Issuer to the Trustee for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest, if any, to the Holders entitled
thereto. With respect to any Note purchased in part, the Issuer will issue a new Note in a principal amount equal at maturity to the unpurchased portion of the original Note in the name of the Holder upon cancellation of the original Note.

 (e) Notwithstanding the foregoing provisions of this Section 3.9, the Issuer shall not be required to make a
Change of Control Offer upon a Change of Control if 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. 
 (f) Prior
to any Change of Control Offer, the Company shall deliver to the Trustee an Officer’s Certificate stating that all conditions precedent contained herein to the right of the Company to make such offer have been complied with. 

(g) The Issuer shall comply, to the extent applicable, with the requirements of Rule 14e-1 of the Exchange Act and any other securities
laws or regulations in connection with the repurchase of Notes pursuant to this Section 3.9. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 3.9, the Issuer
shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.9 by virtue of such compliance. 

(h) A Change of Control Offer may be made in advance of a Change of Control, and conditioned upon such Change of Control. 

SECTION 3.10. Maintenance of Insurance. The Issuer and the Subsidiary Guarantors shall maintain with financially sound and
reputable insurance companies not Affiliates of the Issuer, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and
in such amounts as are customarily carried under similar circumstances by such other Persons. 

  
 -77-

 SECTION 3.11. Additional Guarantors. If, after the Issue Date, (a) any
Restricted Subsidiary (including any newly formed, newly acquired or newly redesignated Restricted Subsidiary) that is not then a Guarantor guarantees any Indebtedness under the Credit Agreement or (b) the Issuer otherwise elects to have any
Restricted Subsidiary become a Guarantor, then, in each such case, the Issuer shall cause such Restricted Subsidiary, within 20 Business Days of the date that such Indebtedness has been guaranteed, to execute and deliver to the Trustee a
supplemental indenture pursuant to which such Restricted Subsidiary shall become a Guarantor under this Indenture. A form of supplemental Indenture for such purpose is attached as Exhibit F hereto. 

Each Guarantee will be limited to an amount not to exceed the maximum amount that can be guaranteed by that Restricted Subsidiary without
rendering the Guarantee, as it relates to such Restricted Subsidiary, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 

Each Guarantee shall be released in accordance Section 10.2(b). 

SECTION 3.12. Compliance Certificate; Statement by Officers as to Default. The Issuer shall deliver to the Trustee, within 120
days after the end of each fiscal year of the Issuer ending after the Issue Date, an Officer’s Certificate to the effect that to the best knowledge of the signer thereof on behalf of the Issuer, the Issuer is or is not in default in the
performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Issuer (through its own action or omission or through the
action or omission of any Guarantor as applicable) shall be in default, specifying all such defaults and the nature and status thereof of which such signer may have knowledge. To the extent required by the TIA, each Guarantor shall comply with TIA
§ 314(a)(4). The individual signing any certificate given by any Person pursuant to this Section 3.12 shall be the principal executive, financial or accounting officer of such Person, in compliance with TIA § 314(a)(4).

 So long as any of the Notes are outstanding, the Issuer will deliver to the Trustee, forthwith upon any Officer becoming
aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Issuer is taking or proposes to take with respect thereto. 

SECTION 3.13. Limitation on Layering. 
 Notwithstanding anything to the contrary, the Issuer shall not, and shall not permit 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 Guarantor, as the case may be, unless such Indebtedness is expressly subordinated in right of payment to the Notes or such Guarantor’s Guarantee to the extent and in the
same manner as such Indebtedness is subordinated to other Indebtedness of the Issuer or such Guarantor, as the case may be. 

SECTION 3.14. Designation of Restricted and Unrestricted Subsidiaries. 

(a) The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed
Subsidiary of the Issuer but excluding the Issuer) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other
Subsidiary of the Issuer that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur
any Indebtedness pursuant to which the lender has recourse to any of the assets of the Issuer or any of its Restricted Subsidiaries; provided, further, however, that either: 

(i) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or 

  
 -78-

 (ii) if such Subsidiary has consolidated assets greater than $1,000, then
such designation would be permitted under Section 3.4. 
 (b) The Board of Directors of the Issuer may designate any
Unrestricted Subsidiary to be a Restricted Subsidiary; provided, however, that immediately after giving effect to such designation: 
 (x) (1) the Issuer could Incur $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test described under Section 3.3, or (2) the Fixed Charge Coverage Ratio
for the Issuer and its Restricted Subsidiaries would be greater than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and

 (y) no Event of Default shall have occurred and be continuing. 

(c) Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a
copy of the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complied with this Section 3.14. 

SECTION 3.15. Covenant Suspension. 
 (a) If on any date following the Issue Date (i) the Notes have Investment Grade Ratings from both Rating Agencies, and (ii) no Default has occurred and is continuing under this Indenture (the
occurrence of the events described in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event”), Sections 3.3, 3.4, 3.6, 3.7, 3.8, and
4.1(a)(iv) (collectively, the “Suspended Covenants”) shall no longer be applicable to such Notes. 
 (b)
In the event that the Issuer and its Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time pursuant to Section 3.15(a) (any such period, a “Suspension Period”), and on
any subsequent date (the “Reversion Date”) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below an Investment Grade Rating, then the Issuer and its Restricted
Subsidiaries shall thereafter again be subject to the Suspended Covenants under this Indenture with respect to future events. 

(c) Upon the occurrence of a Covenant Suspension Event, the amount of Excess Proceeds from Net Cash Proceeds shall be reset at zero.

 (d) In the event of any reinstatement of the Suspended Covenants pursuant to Section 3.15(b), no failure to
comply with the Suspended Covenants prior to such reinstatement will give rise to a Default or Event of Default under this Indenture with respect to any Notes; provided that (1) with respect to Restricted Payments made after any such
reinstatement, the amount of Restricted Payments made shall be calculated as though Section 3.4 had been in effect prior to, but not during the Suspension Period; 

  
 -79-

 
provided that no Subsidiaries may be designated as Unrestricted Subsidiaries during the Suspension Period, and (2) all Indebtedness Incurred, or Disqualified Stock or Preferred Stock
issued, during the Suspension Period shall be classified to have been Incurred or issued pursuant to Section 3.3(b)(iii). In addition, for purposes of Section 3.8, all agreements and arrangements entered into by Holdings and
any Restricted Subsidiary with an Affiliate of the Issuer during the Suspension Period prior to such Reversion Date will be deemed to have been entered into on or prior to the Acquisition Date and for purposes of Section 3.6, all
contracts entered into during the Suspension Period prior to such Reversion Date that contain any of the restrictions contemplated by such Section will be deemed to have been existing on the Acquisition Date. 

The Issuer shall provide an Officer’s Certificate to the Trustee indicating the occurrence of any Covenant Suspension Event or
Reversion Date. The Trustee will have no obligation to (i) independently determine or verify if such events have occurred, (ii) make any determination regarding the impact of actions taken during the Suspension Period on the Issuer’s and
its Subsidiaries’ future compliance with their covenants or (iii) notify the Holders of any Covenant Suspension Event or Reversion Date. 
 SECTION 3.16. Stay, Extension and Usury Laws. The Issuer and each of the Guarantors covenant (to the extent that they may lawfully do so) that they shall not at any time insist upon, plead, or in
any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Issuer and each of
the Guarantors (to the extent that they may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and covenant that they shall not, by resort to any such law, hinder, delay or impede the execution of any power herein
granted to the Trustee or the Collateral Agent, but shall suffer and permit the execution of every such power as though no such law has been enacted. 
 ARTICLE IV 
 Merger; Consolidation or Sale of Assets 

SECTION 4.1. When the Issuer or Holdings May Merge or Otherwise Dispose of Assets. 

(a) The Issuer shall not consolidate or merge with or into or wind up into (whether or not the Issuer is the surviving Person), or sell,
assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person (other than the Merger) unless: 

(i) the Issuer is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other
than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation or limited liability company organized or existing under the laws of the United States, any state thereof, the
District of Columbia, or any territory thereof (the Issuer or such Person, as the case may be, being herein called the “Successor Company”) and, if such entity is not a corporation, a co-obligor of the Notes is a corporation
organized or existing under such laws; 
 (ii) the Successor Company (if other than the Issuer) expressly assumes
all the obligations of the Issuer under this Indenture and the Notes pursuant to supplemental indentures; 

  
 -80-

 (iii) immediately after giving effect to such transaction (and treating any
Indebtedness that becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no
Default or Event of Default shall have occurred and be continuing; 
 (iv) immediately after giving pro forma
effect to such transaction, as if such transaction had occurred at the beginning of the applicable four-quarter period, either: 
 (1) the Successor Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 3.3(a); or 

(2) the Fixed Charge Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be greater than such
ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; 
 (v) if the
Successor Company is other than the Issuer, each Guarantor, unless it is the other party to the transactions described above, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person’s obligations under this
Indenture and the Notes; and 
 (vi) the Issuer shall have delivered to the Trustee an Officer’s Certificate
and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indentures (if any) comply with this Indenture. 
 The Successor Company (if other than the Issuer) will succeed to, and be substituted for, the Issuer under this Indenture and the Notes, and the Issuer will automatically be released and discharged from
its obligations under this Indenture and the Notes. Notwithstanding the foregoing clauses (iii) and (iv), (a) any Restricted Subsidiary may consolidate with, merge into or sell, assign, transfer, lease, convey or otherwise dispose of all
or part of its properties and assets to the Issuer, and (b) the Issuer may merge or consolidate with an Affiliate incorporated or organized solely for the purpose of reincorporating or reorganizing the Issuer in another state of the United
States, the District of Columbia or any territory of the United States so long as the amount of Indebtedness of the Issuer and its Restricted Subsidiaries is not increased thereby. 

(b) Subject to Section 10.5, each Guarantor shall not, and the Issuer shall not permit any Guarantor to, consolidate or merge
with or into or wind up into (whether or not such Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to,
any Person (other than in connection with the Transactions) unless: 
 (i) either (a) such Guarantor is the
surviving Person or the Person formed by or surviving any such consolidation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation,
partnership or limited liability company organized or existing under the laws of the United States, any state thereof, the District of Columbia or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the
“Successor Guarantor”) and the Successor Guarantor (if other than such Guarantor) expressly assumes all the obligations of such Guarantor under this Indenture and such Guarantor’s Guarantee pursuant to a supplemental indenture
or (b) such sale or disposition or consolidation or merger is not in violation of Section 3.7; 

  
 -81-

 (ii) immediately after giving effect to such transaction (and treating any
Indebtedness that becomes an obligation of the Successor Guarantor or any of its Subsidiaries as a result of such transaction as having been Incurred by the Successor Guarantor or such Subsidiary at the time of such transaction) no Default or Event
of Default shall have occurred and be continuing; and 
 (iii) the Successor Guarantor (if other than such
Guarantor) shall have delivered or caused to be delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this
Indenture. 
 (c) Subject to Article X, the Successor Guarantor shall succeed to, and be substituted for, such Guarantor
under this Indenture and such Guarantor’s Guarantee, and such Guarantor shall automatically be released and discharged from its obligations under this Indenture and such Guarantor’s Guarantee. Notwithstanding the foregoing, (1) a
Guarantor may merge or consolidate with an Affiliate incorporated or organized solely for the purpose of reincorporating or reorganizing such Guarantor in another state of the United States, the District of Columbia or any territory of the United
States, so long as the amount of Indebtedness of the Guarantor is not increased thereby, (2) a Guarantor may merge or consolidate with another Guarantor or the Issuer and (3) a Guarantor may convert into a corporation, partnership, limited
partnership, limited liability corporation or trust organized or existing under the laws of the jurisdiction of organization of such Guarantor. 
 ARTICLE V 
 Redemption of Notes 

SECTION 5.1. Optional Redemption. 
 (a) The Notes may be redeemed, in whole at any time, or in part from time to time, subject to the conditions and at the redemption prices set forth in Paragraph 7 of the form of Note set forth in Exhibit
A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to the redemption date. 
 (b) In connection with any redemption of Notes (including with the net cash proceeds of an Equity Offering), any such redemption may, at the Issuer’s discretion, be subject to one or more conditions
precedent, including any related Equity Offering. In addition, if such redemption or notice is subject to satisfaction of one or more conditions precedent, such notice shall state that, in the Issuer’s discretion, the redemption date may be
delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the redemption date, or by the
redemption date so delayed. 
 (c) Unless the Issuer defaults in the payment of the redemption price, interest and Additional
Interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable Redemption Date. 

  
 -82-

 SECTION 5.2. Election to Redeem; Notice to Trustee of Optional and Mandatory
Redemptions. If the Issuer elects to redeem Notes pursuant to Section 5.1, the Issuer shall furnish to the Trustee, at least 2 Business Days for Global Notes and 10 calendar days for Definitive Notes before notice of redemption is required
to be mailed or caused to be mailed to Holders pursuant to Section 5.4, an Officer’s Certificate setting forth (a) the paragraph or subparagraph of such Note and/or Section of this Indenture pursuant to which the redemption
shall occur, (b) the Redemption Date, (c) the principal amount of the Notes to be redeemed and (d) the redemption price. The Issuer may also include a request in such Officer’s Certificate that the Trustee give the notice of
redemption in the Issuer’s name and at its expense and setting forth the information to be stated in such notice as provided in Section 5.4. The Issuer shall deliver to the Trustee such documentation and records as shall enable the
Trustee to select the Notes to be redeemed pursuant to Section 5.3. 
 SECTION 5.3. Selection by Trustee of Notes
to Be Redeemed. If less than all of the Notes are to be redeemed at any time, the Trustee shall select Notes for redemption on a pro rata basis unless otherwise required by law, the Depositary or applicable stock exchange requirements;
provided, however, that no Notes in an unauthorized denomination shall be redeemed in part. No Notes of $2,000 or less can be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption relating to such Note
shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof shall be issued in the name of the Holder thereof upon cancellation of the original Note in accordance
with Section 5.7. 
 The Trustee shall promptly notify the Issuer in writing of the Notes selected for redemption
and, in the case of any Notes selected for partial redemption, the principal amount thereof to be redeemed. 
 For all purposes
of this Indenture, unless the context otherwise requires, all provisions relating to redemption of Notes shall relate, in the case of any Note redeemed or to be redeemed only in part, to the portion of the principal amount of such Note which has
been or is to be redeemed. 
 SECTION 5.4. Notice of Redemption. The Issuer shall mail or cause to be mailed by first
class mail to each Holder’s registered address or otherwise in accordance with the procedures of DTC, a notice of redemption to each Holder whose Notes are to be redeemed not less than 30 nor more than 60 days prior to a date fixed for
redemption (a “Redemption Date”). At the Issuer’s written request, the Trustee may give notice of redemption in the Issuer’s name and at the Issuer’s expense, provided, that the Issuer shall have delivered to
the Trustee at least two Business Days before notice of redemption is required to be sent to Holders pursuant to this Section 5.4, 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 folloing paragraph; provided, however, that redemption notices may be mailed more than 60 days prior to a Redemption Date, but not more than a year, prior to such event, if the
notice is issued in connection with Article VIII. 
 All notices of redemption shall be prepared by the Issuer and shall
state: 
 (a) the Redemption Date, 

(b) the redemption price and the amount of accrued interest, including Additional Interest, if any, to, but excluding, the
Redemption Date payable as provided in Section 5.6, if any, 

  
 -83-

 (c) if less than all outstanding Notes are to be redeemed, the
identification of the particular Notes (or portion thereof) to be redeemed, as well as the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such partial redemption, 

(d) in case any Note is to be redeemed in part only, the notice which relates to such Note shall state that on and after
the Redemption Date, upon surrender of such Note, the Holder shall receive, without charge, a new Note or Notes of authorized denominations for the principal amount thereof remaining unredeemed, 

(e) that on the Redemption Date the redemption price (and accrued interest, incuding Additional Interest, if any, to, but
excluding, the Redemption Date payable as provided in Section 5.6) shall become due and payable upon each such Note, or the portion thereof, to be redeemed, and, unless the Issuer defaults in making the redemption payment, that interest
on Notes called for redemption (or the portion thereof) shall cease to accrue on and after said date, 
 (f) the
place or places where such Notes are to be surrendered for payment of the redemption price and accrued interest, including Additional Interest, if any, 
 (g) the name and address of the Paying Agent, 
 (h) that Notes
called for redemption must be surrendered to the Paying Agent to collect the redemption price, 
 (i) the CUSIP
number, and that no representation is made as to the accuracy or correctness of the CUSIP number, if any, listed in such notice or printed on the Notes, and 
 (j) the Section of this Indenture pursuant to which the Notes are to be redeemed. 
 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 shall have delivered to the Trustee, at
least 45 days prior to the redemption date, 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. Such Officer’s
Certificate shall state that all conditions precedent to the delivery of such notice have been complied with. 
 SECTION 5.5.
Deposit of Redemption Price. Prior to 10:00 a.m. New York City time, on any Redemption Date, the Issuer shall deposit with the Trustee or with a Paying Agent (or, if the Issuer is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 2.4) an amount of money sufficient to pay the redemption price of, and accrued interest, including Additional Interest, on, all the Notes which are to be redeemed on that date. 

SECTION 5.6. Notes Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Notes so to be redeemed
shall, on the Redemption Date, become due and payable at the redemption price therein specified (together with accrued interest, if any, to, but excluding, the Redemption Date), and from and after such date (unless the Issuer shall default in the
payment of the redemption price and accrued interest) such Notes shall cease to bear interest. Upon surrender of any such Note for redemption in accordance with said notice, such Note shall be paid by the Issuer at the redemption price, together
with accrued interest, including Additional Interest, if any, to, but excluding, the Redemption Date (subject to the rights of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date). 

  
 -84-

 If any Note called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest (including Additional Interest, if applicable) from the Redemption Date at the rate borne by the Notes. 

If a Redemption Date is on or after a Record Date and on or before the related Interest Payment Date, the accrued and unpaid interest and
Additional Interest, if any, shall be paid to the Person in whose name the Note is registered at the close of business on such Record Date, and no further interest shall be payable to Holders whose Notes shall be subject to redemption by the Issuer.

 SECTION 5.7. Notes Redeemed in Part. Any Note which is to be redeemed only in part (pursuant to the provisions of this
Article) shall be surrendered at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.3 (with, if the Issuer so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Issuer duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Issuer shall execute, and the Trustee upon receipt of an Authentication Order shall authenticate and make available for delivery to the
Holder of such Note at the expense of the Issuer, a new Note or Notes, of any authorized denomination as requested by such Holder, in an aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Note so
surrendered, provided that each such new Note shall be in a minimum principal amount of $2,000 and integral multiples of $1,000 in excess thereof. 
 SECTION 5.8. Offer to Repurchase. In the event that, pursuant to Section 3.7, the Issuer is required to commence an offer to all Holders to purchase the Notes (an “Offer to
Repurchase”), it shall follow the procedures specified below. 
 (a) The Offer to Repurchase shall remain open for a
period of at least 20 Business Days following its commencement and not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than five Business Days after
the termination of the Offer Period (the “Purchase Date”), the Issuer shall apply all Excess Proceeds or Proceeds Amount, as applicable (the “Offer Amount”) to the purchase of Notes and such other Pari Passu
Indebtedness, if any, (in each instance, on a pro rata basis, if applicable) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness tendered in response to the Offer to Repurchase. Payment for any Notes so purchased
shall be made pursuant to Section 3.1. 
 (b) If the Purchase Date is on or after an interest record date and on or
before the related interest payment date, any accrued and unpaid interest and Additional Interest, if any, shall be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest shall
be payable to Holders who tender Notes pursuant to the Offer to Repurchase. 
 (c) Upon the commencement of an Offer to
Repurchase, the Issuer shall send, by first class mail, a notice to the Trustee and each of the Holders. The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Offer to Repurchase.
The notice, which shall govern the terms of the Offer to Repurchase, shall state: 
 (i) that the Offer to
Repurchase is being made pursuant to this Section 5.8 and Section 3.7, and the length of time the Offer to Repurchase shall remain open; 

  
 -85-

 (ii) the Offer Amount, the purchase price and the Purchase Date; 

(iii) that any Note not tendered or accepted for payment shall continue to accrue interest; 

(iv) that, unless the Issuer defaults in making such payment, any Note accepted for payment pursuant to the Offer to
Repurchase shall cease to accrue interest (including Additional Interest, if any) after the Purchase Date; 
 (v)
that Holders electing to have a Note purchased pursuant to an Offer to Repurchase may elect to have Notes purchased in a minimum amount of $2,000 or an integral multiple of $1,000 in excess thereof only; 

(vi) that Holders electing to have Notes purchased pursuant to any Offer to Repurchase shall be required to surrender the
Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the Issuer, a Depositary, if appointed by the Issuer, or a Paying Agent at the address specified in
the notice at least three days before the Purchase Date; 
 (vii) that Holders shall be entitled to withdraw
their election if the Issuer, the Depositary or the Paying Agent, as the case may be, receives, not later than on the expiration of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the
principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 
 (viii) that, if the aggregate principal amount of Notes and, if applicable, other Pari Passu Indebtedness, if any, surrendered by Holders thereof exceeds the Offer Amount, the Trustee shall select the
Notes and, if applicable, other Pari Passu Indebtedness shall select such other Pari Passu Indebtedness to be purchased or prepaid, on a pro rata basis based on the principal amount of Notes and other Pari Passu Indebtedness, if any, surrendered
(with such adjustments as may be deemed appropriate by the Issuer so that only Notes in minimum denominations of $2,000, or integral multiples of $1,000 in excess thereof, shall be purchased); and 

(ix) that Holders whose Notes were purchased only in part shall be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
 (d) On or before the Purchase Date, the
Issuer shall, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Offer to Repurchase, or if less than the Offer Amount has been tendered, all
Notes tendered, and shall deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating that such Notes or portions thereof were accepted for payment by the Issuer in accordance with
the terms of this Section 5.8. The Issuer, the Depositary or the Paying Agent, as the case may be, shall promptly (but in any case not later than five days after the Purchase Date) mail or deliver to each tendering Holder an amount equal
to the purchase price of the Notes tendered by such Holder and accepted by the Issuer for purchase, and the Issuer shall promptly issue a new Note, and the Trustee, upon written request from the Issuer, shall authenticate and mail or deliver (or
cause to be transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Issuer to the Holder thereof.
The Issuer shall publicly announce the results of the Offer to Repurchase on the Purchase Date. 

  
 -86-

 SECTION 5.9. Escrow of Proceeds; Special Mandatory Redemption. 

(a) Upon closing of the initial purchase and sale of the Notes, (i) the Initial Purchasers shall deposit with the Escrow Agent
pursuant to the Escrow Agreement, the proceeds from the sale of the Initial Notes and (ii) the Issuer (or one of its Affiliates) shall deposit with the Escrow Agent funds sufficient to pay interest with respect to the Notes up to, but not
including, the latest possible Special Mandatory Redemption Date ((i) and (ii), collectively the “Escrowed Funds”). 
 (b) The Notes shall be subject to a special mandatory redemption (the “Special Mandatory Redemption”) whereby the Issuer will redeem all of the Notes at a price equal to 100% of the
initial issue price of the Notes plus accrued and unpaid interest from the Issue Date up to, but not including the Special Mandatory Redemption Date in the event that (i) the Acquisition Date does not take place on or prior to March 31,
2011 (the “Outside Date”), (ii) at any time prior to the Outside Date, any conditions to the release of the proceeds are deemed by the Issuer to be incapable of being satisfied on or prior to the Outside Date or (iii) at
any time prior to the Outside Date, the Merger Agreement is terminated (any such event being a “Mandatory Redemption Event”). Notwithstanding any other provision of this Section 5.9, if such an event occurs, the Issuer shall
cause the notice of a Special Mandatory Redemption (the “Special Redemption Notice”) to be mailed within three Business Day following the Mandatory Redemption Event, to the Trustee and the Escrow Agent. Concurrently with the
delivery of the Special Redemption Notice, the Issuer shall request the Trustee to, at the Issuer’s expense, mail (by first-class mail to each Holder’s registered address or otherwise in accordance with the procedures of DTC) a notice that
a Special Mandatory Redemption is to occur. Within three Business Days after the Trustee’s mailing of such notice of a Mandatory Redemption Event, the Issuer will perform the Special Mandatory Redemption (the date of such redemption, the
“Special Mandatory Redemption Date”). 
 (c) This Section 5.9 may not be waived or modified in any manner
materially adverse to the Holders of the notes without the written consent of Holders of a majority in principal amount of the Notes then outstanding. 
 (d) Upon release of the proceeds from the sale of the Notes to the Issuer in accordance with the Escrow Agreement, the Initial Notes shall no longer be subject to a Special Mandatory Redemption pursuant
to this Section 5.9 or otherwise. 
 ARTICLE VI 

Defaults and Remedies 
 SECTION 6.1. Events of Default. Each of the following is an Event of Default: 
 (i) a default in any payment of interest on any Note when due continued for 30 days; 
 (ii) a default in the payment of principal or premium, if any, of any note when due at its Stated Maturity, upon optional redemption, upon required purchase, upon acceleration or otherwise; 

  
 -87-

 (iii) the failure by the Issuer or any of its Restricted Subsidiaries to
comply for 60 days after written notice with any of its other agreements contained in the Notes or this Indenture; 
 (iv) the failure by the Issuer or any Significant Subsidiary to pay any Indebtedness (other than Indebtedness owing to the Issuer or a Restricted Subsidiary of the Issuer) within any applicable grace
period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated exceeds $50.0 million or its foreign currency
equivalent; 
 (v) the Issuer or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy
Law: 
 (1) commences a voluntary case; 

(2) consents to the entry of an order for relief against it in any voluntary case; 

(3) consents to the appointment of a Custodian of it or for any substantial part of its property; or 

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

or takes any comparable action under any foreign laws relating to insolvency; 

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

(1) is for relief against the Issuer or any Significant Subsidiary in an involuntary case; 

(2) appoints a Custodian of the Issuer or any Significant Subsidiary or for any substantial part of its property; or

 (3) orders the winding up or liquidation of the Issuer or any Significant Subsidiary; 

or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 days; 

(vii) failure by the Issuer or any Significant Subsidiary to pay final and non-appealable judgments aggregating in excess
of $50.0 million or its foreign currency equivalent (net of any amounts which are covered by enforceable insurance policies issued by solvent insurance companies), which judgments are not discharged, waived or stayed for a period of 60 days 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; 

(viii) the Guarantee of a Significant Subsidiary ceases to be in full force and effect (except as contemplated by the
terms thereof), or any Guarantor that is a Significant Subsidiary denies that it has any further liability under its Guarantee or gives notice to such effect, other than by reason of the termination of this Indenture or the release of any such
Guarantee in accordance with this Indenture, and such Default continues for 10 days; or 

  
 -88-

 (ix) failure by the Issuer to consummate the Special Mandatory Redemption.

 The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is
voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 

However, a default under clause (iii) of this Section 6.1 will not constitute an Event of Default until the Trustee or the
Holders of at least 25% in principal amount of outstanding Notes notify the Issuer of the default and the Issuer does not cure such default within the time specified in clause (iii) of this Section 6.1 after receipt of such notice

 SECTION 6.2. Acceleration. If an Event of Default (other than an Event of Default specified in Sections 6.1(v)
or (vi) above with respect to the Issuer) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of outstanding Notes by written notice to the Issuer may declare the principal of, premium, if any, and
accrued but unpaid interest on all the Notes to be due and payable. Upon such a declaration, such principal and interest will be due and payable immediately. If an Event of Default arising from Sections 6.1(v) or (vi) of the
Issuer occurs, the principal of, premium, if any, and interest on all the Notes will become 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 to
collect the payment of principal of or interest on the Notes or to enforce the performance of any provision of the Notes, this Indenture (including sums owed to the Trustee and its agents and counsel) and the Guarantees. 

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 notice to the Trustee may, on behalf of the Holders of all of the Notes, waive, rescind or cancel any declaration of an existing or past Default or Event of Default and its consequences
under this Indenture if such waiver, rescission or cancellation would not conflict with any judgment or decree, except a continuing Default or Event of Default in the payment of interest on, or the principal of, the Notes (other than such nonpayment
of principal or interest that has become due as a result of 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. 
 In the
event of any Event of Default arising from Section 6.1(iv), such Event of Default and all consequences thereof (excluding, however, any resulting payment default) will be annulled, waived and rescinded, automatically and without any
action by the Trustee or the Holders of the Notes, if prior to the earlier of (i) a declaration of acceleration pursuant to the preceding paragraph and (ii) 20 days 

  
 -89-

 
after such Event of Default arose, the Issuer delivers an Officer’s Certificate to the Trustee stating that (x) the Indebtedness or Guarantee that is the basis for such Event of Default
has been discharged 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 (z) the default that is the basis for such Event of Default has been
cured. 
 SECTION 6.5. Control by Majority. The Holders of a majority in principal amount of the then 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. The Trustee, however, may refuse to follow any direction that conflicts with law
or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Noteholders or that would involve the Trustee in personal liability unless such Holders have offered to the Trustee security and indemnity satisfactory
to it against any loss, liability or expense. Prior to taking any action under this Indenture, the Trustee will be entitled to security or indemnification satisfactory to it in its sole discretion against all losses, liabilities and expenses caused
by taking or not taking such action. 
 SECTION 6.6. Limitation on Suits. Subject to the provisions of this Indenture
relating to the rights and duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any of the
Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal, premium, if any, or interest or Additional
Interest, if any, when due, no Holder may pursue any remedy with respect to this Indenture or the Notes unless: 

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

(ii) Holders of at least 25% of the aggregate principal amount of the outstanding Notes have requested the Trustee to
pursue the remedy; 
 (iii) such Holders have offered the Trustee security or indemnity reasonably satisfactory
to it in any loss, liability or expense; 
 (iv) the Trustee has not complied with such request within 60 days
after the receipt of the request and the offer of security or indemnity; and 
 (v) the Holders of a majority in
principal amount of the outstanding Notes have not given the Trustee a direction inconsistent with such request within such 60-day period. 
 SECTION 6.7. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of, premium (if any) or interest on
the Notes held by such Holder, on or after the respective due dates expressed in the Notes, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such
Holder. 
 SECTION 6.8. Collection Suit by Trustee. If an Event of Default specified in Section 6.1(i) or
(ii) 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 7.6. 

  
 -90-

 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 their respective creditors or properties and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders (pursuant to the written
direction of Holders of a majority in principal amount of the then outstanding Notes) 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 reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.6. 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 or 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 such proceeding. 

SECTION 6.10. Priorities. The Trustee shall pay out any money or property received by it in the following order: 

First: to the Trustee for amounts due under Section 7.6 ; 

Second: to Holders for amounts due and unpaid on the Notes for principal, 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, premium, if any, and interest, respectively; and 

Third: to the Issuer or, to the extent the Trustee receives any amount for any Guarantor, to such Guarantor as a
court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders
pursuant to this Section. At least 15 days before such record date, the Issuer shall mail 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 does not apply to a
suit by the Trustee, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in outstanding principal amount of the Notes. 

  
 -91-

 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; provided that if an Event of Default occurs and is
continuing, the Trustee shall not be under any obligation to exercise any of the rights or powers under this Indenture, the Notes and the Guarantees at the request or direction of any of the Holders unless such Holders have offered the Trustee
indemnity, security or prefunding satisfactory to the Trustee in its sole discretion against any loss, liability or expense it may incur. 
 (b) Except during the continuance of an Event of Default of which a Trust Officer has actual knowledge, the Trustee: 

(i) 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 
 (ii) in the absence of
gross negligence or bad faith on its part, may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee under this Indenture, the Notes and the
Guarantees, as applicable. 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, the Notes and the Guarantees as the case may be (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

(c) The Trustee shall 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 Section 7.1(c) does not limit the effect of
Section 7.1(b); 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith
by a Trust Officer or Trust Officers unless it is proved in a final non-appealable decision of a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance
with a direction received by it pursuant to Section 6.5. 
 (d) 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. 
 (e) Money held in trust by the Trustee need
not be segregated from other funds except to the extent required by law. 

  
 -92-

 (f) No provision of this Indenture, the Notes or the Guarantees shall require the Trustee to
expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or 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 indemnity satisfactory to it against such risk or liability is not reasonably assured to it. 
 (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. 
 (h) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders shall have offered
to the Trustee, security, prefunding or indemnity reasonably satisfactory to it against the costs, expenses (including reasonable attorneys’ fees and expenses) and liabilities that might be incurred by it in compliance with such request or
direction. 
 SECTION 7.2. Rights of Trustee. 
 (a) The Trustee may conclusively rely and shall be protected in acting upon any resolution, certificate, statement, instrument, opinion, notice, request, direction, consent, order, bond or any other paper
or document believed by it to be genuine and to have been signed or presented by the proper Person or Persons. 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 takes or omits to take in good faith in reliance on an Officer’s Certificate or Opinion of Counsel. 
 (c) The Trustee may act through its attorneys, custodians, nominees and agents and shall not be responsible for the misconduct or negligence of or for the supervision of any agent, custodians, nominees or
attorney appointed with due care. 
 (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, however, that the Trustee’s conduct does not constitute willful misconduct or negligence as determined in a final non-appealable decision of a court of
competent jurisdiction. 
 (e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with
respect to legal matters relating to this Indenture, the Notes and the Guarantees shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder or under the Notes and the
Guarantees in good faith and in accordance with the advice or opinion of such counsel. 
 (f) The Trustee shall not be bound to
make any investigation into any statement, warranty or representation, or the facts or matters stated in any resolution, certificate, statement, instrument, opinion, notice, request, direction, consent, order, bond or other paper or document made or
in connection with this Indenture; moreover, the Trustee shall not be bound to make any investigation into (i) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein, (ii) the
occurrence of any default, or the validity, enforceability, effectiveness or genuineness of this Indenture or any other agreement, instrument or document, or (iii) the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, 

  
 -93-

 
bond, debenture, note other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as
it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney and shall incur no liability or
additional liability of any kind by reason of such inquiry or investigation. 
 (g) The Trustee shall not be deemed to have
knowledge of any Default or Event of Default except any Default or Event of Default of which a Trust Officer shall have (x) received written notification from the Issuer or a Holder at the Corporate Trust Office of the Trustee and such notice
references the Notes and this Indenture or (y) obtained “actual knowledge.” “Actual knowledge” shall mean the actual fact or statement of knowing by a Trust Officer without independent investigation with respect
thereto. 
 (h) In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of
any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(i) 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 each agent, custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Issuer deliver a certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture. 
 (k) The Trustee shall not have any duty
(A) to see to any recording, filing, or depositing of this Indenture or any agreement referred to herein, or to see to the maintenance of any such recording or filing or depositing or to any rerecording, re-filing or redepositing of any thereof
or (B) to see to any insurance. 
 (l) The right of the Trustee to perform any discretionary act enumerated in this
Indenture shall not be construed as a duty. 
 SECTION 7.3. Individual Rights of Trustee. Subject to the TIA each of the
Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, the 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 Section 7.9. In addition, the Trustee shall be permitted to engage in transactions with the Issuer; 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. Disclaimer. The Trustee shall not be responsible for and makes no representation as to
the validity or adequacy of this Indenture, the Notes or the Guarantees, it shall not be accountable for the Issuer’s use of the Notes or the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer 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 or for the use or application of any funds received by any Paying Agent other than the Trustee.

  
 -94-

 SECTION 7.5. Notice of Defaults. If a Default occurs and is continuing and is
actually known to the Trustee, the Trustee shall mail to each Holder notice of the Default within 90 days after it is known to the Trustee. Except in the case of a Default in the payment of principal of, premium (if any) or interests on any Note,
the Trustee may withhold notice if and so long as a committee of its Trust Officers in good faith determines that withholding notice is in the interests of the Holders. 
 SECTION 7.6. Compensation and Indemnity. The Issuer shall pay to the Trustee from time to time such compensation for their services as the parties shall agree in writing from time to time. 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 and reviewing reports, certificates and other documents, costs of preparation and mailing of notices to Holders and reasonable costs of counsel, in addition to the compensation for its services.
Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Issuer shall indemnify the Trustee or any predecessor Trustee in each of its
capacities hereunder (including Paying Agent, and Registrar), and each of their officers, directors, employees, counsel and agents, against any and all loss, liability or expense (including, but not limited to, reasonable attorneys’ fees and
expenses) incurred by it in connection with the administration of this trust and the performance of their duties hereunder and under the Notes and the Guarantees, including the costs and expenses of enforcing this Indenture (including this
Section 7.6), the Notes and the Guarantees 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.
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 may have separate counsel and the Issuer shall pay the reasonable fees and expenses of such
counsel. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee as a result of its own willful misconduct, negligence or bad faith. 

To secure the Issuer’s payment obligations in this Section, 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. The right of the Trustee to receive payment of any amounts due under this Section 7.6 shall not be
subordinate to any other liability or indebtedness of the Issuer. 
 The Issuer’s obligations pursuant to this Section and
any lien arising hereunder shall survive the satisfaction and discharge of this Indenture and the resignation or removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default specified in Section 6.1(v) or
(vi) with respect to the Issuer, the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 
 Pursuant to Section 10.1, the obligations of the Issuer hereunder are jointly and severally guaranteed by the Guarantors. 

SECTION 7.7. Replacement of Trustee. The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority in
principal amount of the Notes may remove the Trustee by so notifying the Issuer and the Trustee in writing and may appoint a successor Trustee. The Issuer shall remove the Trustee if: 

(i) the Trustee fails to comply with Section 7.9; 

  
 -95-

 (ii) the Trustee is adjudged bankrupt or insolvent; 

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

(iv) the Trustee otherwise becomes incapable of acting. 

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

 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 promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.6. All costs reasonably incurred in connection with any
resignation or removal hereunder shall be borne by the Issuer. 
 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% in 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 7.9, unless the Trustee’s duty to resign is stayed, any
Holder 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 7.7, the Issuer’s obligations under Section 7.6 shall continue for the benefit of the retiring Trustee.

 SECTION 7.8. 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; and in all such cases such
certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have. 
 SECTION 7.9. Eligibility; Disqualification. The Trustee shall have a combined capital and surplus of at least $50 million as set forth in its most recent filed annual report of condition.

  
 -96-

 This Indenture shall always have a Trustee who satisfies the requirements of TIA §
310(a)(1), (2) and (5). The Trustee is subject to TIA § 310(b). 
 SECTION 7.10. Limitation on Duty of Trustee.
The Trustee shall not have any duty to ascertain or inquire as to the performance or observance of any of the terms of this Indenture, the Notes and the Guarantees by the Issuer, the Guarantors or any other Person. 

SECTION 7.11. Preferential Collection of Claims Against the Issuer. 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 therein. 
 SECTION 7.12. Reports by Trustee to Holders of the Notes. Within 60 days after each December 1, beginning with December 1, 2011, the Trustee shall mail to the Holders of the Notes a brief
report dated as of such reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also shall
comply with TIA § 313(b). The Trustee shall also transmit by mail all reports as required by TIA § 313(c). 
 A copy
of each report at the time of its mailing to the Holders of Notes shall be mailed to the Issuer and filed with the SEC and each stock exchange on which any Notes are listed in accordance with TIA § 313(d). The Issuer shall promptly notify the
Trustee in writing when any Notes are listed on any stock exchange and of any delisting thereof. 
 ARTICLE VIII 

Discharge of Indenture; Defeasance 
 SECTION 8.1. Discharge of Liability on Securities; Defeasance. This Indenture shall be discharged and shall cease to be of further effect (except as to surviving rights of registration or transfer
or exchange of Notes, as expressly provided for in this Indenture) as to all outstanding Notes: 
 (a) when
(i) all the Notes theretofore authenticated and delivered (other than Notes pursuant to Section 2.7 which have been replaced or paid and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust
by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have been delivered to the Trustee for cancellation or (ii) all of the Notes (a) have become due and payable, (b) will become due and payable at their
Stated Maturity within one year or (c) if redeemable at the option of the Issuer, have been called for redemption within one year and the Issuer or any Guarantor has irrevocably deposited or caused to be deposited with the Trustee funds in cash
in U.S. Dollars, U.S. Government Obligations or a combination thereof in an amount sufficient to pay and discharge the entire Indebtedness on the Notes not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and
interest on the Notes to the date of deposit together with irrevocable instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; 

(b) the Issuer and/or the Guarantors have paid all other sums payable under this Indenture; and 

  
 -97-

 (c) the Issuer has delivered to the Trustee an Officer’s Certificate
and an Opinion of Counsel stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. 
 Subject to Sections 8.1(c) and 8.2, the Issuer at any time may terminate (i) all of its obligations under the Notes and this Indenture (with respect to such Notes) and cure any then-existing Events
of Default (“legal defeasance option”) or (ii) its obligations under Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9 and 3.10 and the operation of Section 4.1 (other than Sections 4.1(a)(i),
(ii) and (vi)) and Sections 6.1(iii) (with respect to any Default under Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9 and 3.10), 6.1(iv), 6.1(v)
(with respect to Significant Subsidiaries of the Issuer only), 6.1(vi) (with respect to Significant Subsidiaries of the Issuer only) and 6.1(vii) (“covenant defeasance option”). The Issuer may exercise its legal
defeasance option notwithstanding its prior exercise of its covenant defeasance option. In the event that the Issuer terminates all of its obligations under the Notes and this Indenture (with respect to such Notes) by exercising its legal defeasance
option or its covenant defeasance option, the obligations of each Guarantor under its Guarantee of such Notes shall be terminated simultaneously with the termination of such obligations. 

If the Issuer exercises its legal defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of
Default. If the Issuer exercises its covenant defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of Default specified in Section 6.1(iii) (with respect to any Default by the Issuer or any of
its Restricted Subsidiaries with any of its obligations under Article III other than Sections 3.1, 3.11, 3.15), 6.1(iv), 6.1(v) (with respect to Significant Subsidiaries of the Issuer only), 6.1(vi) (with
respect to Significant Subsidiaries of the Issuer only), 6.1(vii) (with respect to Significant Subsidiaries of the Issuer only) and 6.1(viii). 
 Upon satisfaction of the conditions set forth herein and upon request of the Issuer, the Trustee shall acknowledge in writing the discharge of those obligations that the Issuer terminates. 

(d) Notwithstanding clauses (a) and (b) above, the Issuer’s obligations in Sections 2.3, 2.4, 2.5,
2.6, 2.7, 2.8, 7.6, 7.7 and in this Article 8 shall survive until the Notes have been paid in full. Thereafter, the Issuer’s obligations in Sections 7.6, 8.5 and 8.6 shall survive such
satisfaction and discharge. 
 SECTION 8.2. Conditions to Defeasance. 

(a) The Issuer may exercise its legal defeasance option or its covenant defeasance option only if: 

(i) the Issuer irrevocably deposits in trust with the Trustee cash in U.S. Dollars, U.S. Government Obligations or a
combination thereof in an amount sufficient or U.S. Government Obligations, the principal of and the interest on which will be sufficient, or a combination thereof sufficient, to pay the principal of, and premium (if any) and interest on the
applicable Notes when due at maturity or redemption, as the case may be; 
 (ii) the Issuer delivers to the
Trustee a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited
money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Notes to maturity or redemption, as the case may be; 

  
 -98-

 (iii) 91 days pass after the deposit is made and during the 91-day period no
Default specified in Section 6.1(v) or (vi) with respect to the Issuer occurs which is continuing at the end of the period; 
 (iv) the deposit does not constitute a default under any other agreement binding on the Issuer; 
 (v) the Issuer delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting from the deposit does not constitute, or is qualified as, a regulated investment Issuer under the
Investment Issuer Act of 1940; 
 (vi) in the case of the legal defeasance option, the Issuer shall have
delivered to the Trustee an Opinion of Counsel stating that (1) the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2) since the date 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 will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and
defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; 

(vii) in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel
to the effect that the Holders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such deposit and defeasance had not occurred; and 
 (viii) the Issuer delivers to
the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Notes to be so defeased and discharged as contemplated by this Article VIII have been complied
with. 
 Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Notes at a future date in accordance with Article V. 
 Notwithstanding the foregoing, the Opinion of Counsel required by the
clause (vi) above need not be delivered if all Notes not theretofore delivered to the Trustee for cancellation (x) have become due and payable, (y) will become due and payable at their Stated Maturity within one year or (z) have
been called for redemption within one year. 
 SECTION 8.3. Application of Trust Money. The Trustee shall hold in trust
money or U.S. Government Obligations deposited with it pursuant to this Article VIII. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of
principal of and interest on the Notes. 
 SECTION 8.4. Repayment to Issuer. Anything herein to the contrary
notwithstanding, the Trustee shall deliver or pay to the Issuer from time to time upon Company Order any money or U.S. Government Obligations held by it as provided in this Article VIII which, in the opinion of a

  
 -99-

 
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be
required to be deposited to effect legal defeasance or covenant defeasance, as applicable, provided that the Trustee shall not be required to liquidate any U.S. Government Obligations in order to comply with the provisions of this
Section 8.4. 
 Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the
Issuer upon written request any money held by them for the payment of principal of or interest on the Notes that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuer for payment as general
creditors. 
 SECTION 8.5. Indemnity for U.S. Government Obligations. The Issuer shall pay and shall indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 

SECTION 8.6. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in
accordance with this Article VIII 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 Issuer
and each Guarantor under this Indenture, the Notes and the Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to this Article VIII until such time as the Trustee or Paying Agent is permitted to apply all
such money or U.S. Government Obligations in accordance with this Article VIII; provided, however, that, if the Issuer or the Guarantors has made any payment of interest on or principal of any Notes because of the reinstatement
of its obligations, the Issuer or any Guarantor, as the case may be, 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.

 ARTICLE IX 
 Amendments 
 SECTION 9.1. Without Consent of Holders.
Notwithstanding Section 9.2 hereof, this Indenture, the Notes and Guarantees may be amended by the Issuer and the Trustee without notice to or consent of any Holder: 

(i) to cure any ambiguity, omission, mistake, defect or inconsistency; 

(ii) to conform the text of this Indenture, the Guarantees or the Notes to the “Description of Notes” in the
Offering Circular; 
 (iii) to provide for the assumption by a successor corporation, partnership or limited
liability company of the obligations of the Issuer under this Indenture and the Notes; 
 (iv) to provide for
uncertificated Notes in addition to or in place of certificated Securities; provided, however, that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code or in a manner such that the
uncertificated Notes are described in Section 163(f)(2)(B) of the Code; 

  
 -100-

 (v) to add or release Guarantees with respect to the Notes in accordance
with the terms of this Indenture; 
 (vi) to secure the Notes; 

(vii) to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein
conferred upon the Issuer; 
 (viii) to make any change that does not adversely affect the rights of any Holder
in any material respect; 
 (ix) to comply with any requirement of the SEC in connection with the qualification
of this Indenture under the TIA; 
 (x) to provide for the issuance of Additional Notes to the extent permitted
by Section 3.3 as in effect prior to such amendment, which shall have terms substantially identical in all material respects to the Initial Notes, and which shall be treated, together with any outstanding Initial Notes, as a single issue
of securities; or 
 (xi) to evidence and provide for the acceptance of appointment by a successor Trustee,
provided that the successor Trustee is otherwise qualified and eligible to act as such under the terms of this Indenture. 

SECTION 9.2. With Consent of Holders. 
 (a) This Indenture, the Notes and the Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding
(including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes) and any existing or past default or compliance with any provisions of such documents may be waived with the consent of
the Holders of a majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes). However, without the consent of each
Holder of an outstanding note affected, no amendment may (with respect to any notes held by a non-consenting Holder): 
 (i) reduce the percentage of the aggregate principal amount of Notes whose Holders must consent to an amendment; 
 (ii) reduce the rate of or extend the time for payment of interest on any Note; 
 (iii) reduce the principal of or change the Stated Maturity of any Note; 
 (iv) reduce the premium payable upon the redemption of any Note or change the time at which any Note may be redeemed as described under Section 5.1; 

(v) make any Note payable in money other than that stated in such Note; 

(vi) impair the right of any Holder to receive payment of principal of, premium, if any, and interest on such
Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; 

  
 -101-

 (vii) make any change in the amendment provisions that require each
Holder’s consent or in the waiver provisions; 
 (viii) make the Notes or any Guarantee subordinated in
right of payment to any other obligations; or 
 (ix) modify the Guarantees in any manner adverse to the Holders.

 (b) It shall not be necessary for the consent of the Holders under this Section to approve the particular form of any
proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
 (c) After an amendment under
this Section 9.2 becomes effective, the Issuer shall (or shall cause the Trustee, at the expense of and at the written request of the Issuer, to) mail to the Holders of Notes affected thereby a notice briefly describing such amendment. The
failure of the Issuer to mail such notice, or any defect therein, shall not in any way impair or affect the validity of an amendment under this Section 9.2. 
 SECTION 9.3. Effect of Consents and Waivers. A consent to an amendment or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or portion of the Note that
evidences the same debt as the consenting Holder’s Note, even if notation of the consent or waiver is not made on the Note. After an amendment or waiver becomes effective, it shall bind every Holder unless it makes a change described in clauses
(i) through (ix) of Section 9.2(a), in which case the amendment or waiver or other action shall bind each Holder who has consented to it and every subsequent Holder that evidences the same debt as the consenting Holder’s
Notes. An amendment or waiver made pursuant to Section 9.2 shall become effective upon receipt by the Trustee of the requisite number of written consents. 
 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 take any such action, whether or not such Persons continue to be Holders after such record date. 
 SECTION 9.4. Notation on or Exchange of Notes. If an amendment changes the terms of a Note, the Trustee may require the Holder of the Note to deliver it to the Trustee. The Trustee may place an
appropriate notation on the Note regarding the changed terms and return it to the Holder. Alternatively, if the Issuer or the Trustee so determines, the Issuer in exchange for the Note shall issue and the Trustee shall authenticate a new Note that
reflects the changed terms. Failure to make the appropriate notation or to issue a new Note shall not affect the validity of such amendment. 
 SECTION 9.5. Trustee To Sign Amendments. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article IX if the amendment, supplement or waiver does not, in
the sole determination of the Trustee, adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing any amendment, supplement or waiver pursuant to this Article
IX, the Trustee shall be entitled to receive, and (subject to Sections 7.1 and 7.2) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver
is authorized or permitted by or complies 

  
 -102-

 
with this Indenture, that all conditions precedent to such amendment required by this Indenture have been complied with and that such amendment, supplement or waiver is the legal, valid and
binding obligation of the Issuer, enforceable against the Issuer in accordance with its terms, subject to customary exceptions. 

SECTION 9.6. Compliance with Trust Indenture Act. Every amendment to this Indenture and the Notes shall be set forth in an amended
or supplemental indenture that complies with the TIA as then in effect. 
 ARTICLE X 

Guarantees 
 SECTION 10.1. Guarantees. 
 (a) Subject to the provisions of this
Article X, each Guarantor hereby jointly and severally, unconditionally and irrevocably guarantees, as guarantor and not as a surety, with each other Guarantor, to each Holder of the Notes, to the extent lawful, 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 of the Issuer under this Indenture and the Notes (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 Issuer 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 7.6) (all the foregoing being hereinafter collectively called the “Guarantor Obligations”). Each Guarantor agrees (to the extent
lawful) that the Guarantor Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and that it shall remain bound under this Article X notwithstanding any extension or renewal of any Guarantor
Obligation. 
 (b) Each Guarantor waives (to the extent lawful) presentation to, demand of, payment from and protest to the
Issuer of any of the Guarantor Obligations and also waives (to the extent lawful) notice of protest for nonpayment. Each Guarantor waives (to the extent lawful) notice of any default under the Notes or the Guarantor Obligations. 

(c) 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 Guarantor Obligations. 
 (d) Except as set forth in Section 10.2 and Article VIII, 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 Guarantor Obligations in full), including any claim of waiver, release, surrender, alteration or compromise, and shall not (to the extent lawful) be subject to any defense of setoff, counterclaim, recoupment or
termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guarantor Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not (to the extent
lawful) 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 Issuer 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 Guarantor Obligations or any of them; (e) the failure of any Holder to exercise any right or remedy against any other Guarantor; (f) any change in the ownership

  
 -103-

 
of the Issuer; (g) any default, failure or delay, willful or otherwise, in the performance of the Guarantor 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. 

(e) Each Guarantor agrees that its Guarantee herein shall remain in full force and effect until payment in full of all the Guarantor
Obligations or such Guarantor is released from its Guarantee in compliance with Section 4.1, Section 10.2 and Article VIII. 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, or interest on any of the Guarantor Obligations is rescinded or must otherwise be restored by any Holder upon the bankruptcy or
reorganization of the Issuer or otherwise. 
 (f) 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 Issuer to pay any of the Guarantor Obligations when and as the same shall become due, whether at maturity, by acceleration, by redemption or
otherwise, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Trustee or the Trustee on behalf of the Holders an amount equal to the sum of (i) the
unpaid amount of such Guarantor Obligations then due and owing and (ii) accrued and unpaid interest on such Guarantor 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 Issuer or any Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such proceeding). 

(g) 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 Guarantor 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 Guarantor Obligations guaranteed hereby and (y) in the event of any such declaration of acceleration of such Guarantor Obligations, such Guarantor Obligations (whether or not due and payable) shall forthwith become due and payable by the
Guarantor for the purposes of this Guarantee. 
 (h) Each Guarantor also agrees to pay any and all reasonable costs and expenses
(including reasonable attorneys’ fees) incurred by the Trustee or the Holders in enforcing any rights under this Section. 

(i) Neither the Issuer nor the Guarantors shall be required to make a notation on the Notes to reflect any Guarantee or any release,
termination or discharge thereof and any such notation shall not be a condition to the validity of any Guarantee. 
 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 shall be limited to the maximum amount as shall, 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 or state law and not otherwise being void or voidable under any similar laws affecting the rights of creditors generally. 

  
 -104-

 (b) A Guarantee by a Guarantor shall be automatically and unconditionally released and
discharged, and each Guarantor and its obligations under the Guarantee and this Indenture shall be released and discharged upon: 
 (1) the sale, exchange, disposition or other transfer (including through merger or consolidation) of the Capital Stock (including any sale, disposition or other transfer following which the applicable
Guarantor is no longer a Restricted Subsidiary), or all or substantially all the assets, of the applicable Guarantor if such sale, disposition or other transfer is made in compliance with this Indenture; 

(2) the Issuer designating such Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set forth in
Section 3.4 and the definition of “Unrestricted Subsidiary;” 
 (3) in the case of any
Restricted Subsidiary that after the Acquisition Date is required to guarantee the notes pursuant to Section 3.11, the release or discharge of the guarantee by such Restricted Subsidiary of Indebtedness of the Issuer or any Restricted
Subsidiary of the Issuer or such Restricted Subsidiary or the repayment of the Indebtedness or Disqualified Stock, in each case, which resulted in the obligation to guarantee the notes, except if a release or discharge is by or as a result of
payment under such other guarantee; 
 (4) the Issuer’s exercise of its legal defeasance option or covenant
defeasance option as described under Article VIII or if the Issuer’s obligations under this Indenture are discharged in accordance with the terms of this Indenture; or 

(5) upon the release or discharge of the guarantee by such Guarantor of the obligations under the Credit Agreement, except
a discharge or release by or as a result of payment under such guarantee. 
 (c) If any Guarantor is released from its
Guarantee, any of its Subsidiaries that are Guarantors will be released from their Guarantees, if any. 
 (d) In the case of
this Section 10.2(b), the Issuer shall deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in this Indenture relating to such transaction have been
complied with. 
 (e) The release of a Guarantor from its Guarantee and its obligations under this Indenture in accordance with
the provisions of this Section 10.2 shall not preclude the future applications of Section 3.11 to such Person. 
 SECTION 10.3. Right of Contribution. Each Guarantor hereby agrees that to the extent that any such Guarantor shall have paid more than its proportionate share of any payment made on the obligations
under its Guarantee, such Guarantor shall be entitled to seek and receive contribution from and against the Issuer or any other Guarantor who has not paid its proportionate share of such payment. The provisions of this Section 10.3 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. 

  
 -105-

 SECTION 10.4. 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 Issuer 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 Guarantor Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Issuer 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 Issuer on account of the Guarantor 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 Guarantor 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 Guarantor Obligations. 
 SECTION 10.5. Limitations on Merger. A Guarantor will not, and the Issuer will not permit any Guarantor to, consolidate or merge with or into or wind up into (whether or not such Guarantor is the
surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person (other than in connection with the Transactions) unless:

 (1) either (a) such Guarantor is the surviving Person or the Person formed by or surviving any such
consolidation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a corporation, partnership or limited liability company organized or existing under the
laws of the United States, any state thereof, the District of Columbia or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the “Successor Guarantor”) and the Successor Guarantor (if other
than such Guarantor) expressly assumes all the obligations of such Guarantor under this Indenture and such Guarantor’s Guarantee pursuant to a supplemental indenture or (b) such sale or disposition or consolidation or merger is not in
violation of Section 3.7; 
 (2) immediately after giving effect to such transaction (and treating
any Indebtedness that becomes an obligation of the Successor Guarantor or any of its Subsidiaries as a result of such transaction as having been Incurred by the Successor Guarantor or such Subsidiary at the time of such transaction) no Default or
Event of Default shall have occurred and be continuing; and 
 (3) the Successor Guarantor (if other than such
Guarantor) shall have delivered or caused to be delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this
Indenture. 
 The Successor Guarantor will succeed to, and be substituted for, such Guarantor under this Indenture and such
Guarantor’s Guarantee, and such Guarantor will automatically be released and discharged from its obligations under this Indenture and such Guarantor’s Guarantee. Notwithstanding the foregoing, (1) a Guarantor may merge or consolidate
with an Affiliate incorporated or organized solely for the purpose of reincorporating or reorganizing such Guarantor in another state of the United States, the District of Columbia or any territory of the United States, so long as the amount of
Indebtedness of the Guarantor is not increased thereby, (2) a Guarantor may merge or consolidate with another Guarantor or the Issuer and (3) a Guarantor may convert into a corporation, partnership, limited partnership, limited liability
corporation or trust organized or existing under the laws of the jurisdiction of organization of such Guarantor. 

  
 -106-

 ARTICLE XI 
 INTENTIONALLY OMITTED 
 ARTICLE XII 

Miscellaneous 
 SECTION 12.1. Notices. Notices given by publication shall be deemed given on the first date on which publication is made, and notices given by first-class mail, postage prepaid, shall be deemed
given five calendar days after mailing. Any notice or communication shall be in writing and delivered in person, by facsimile or mailed by first-class mail addressed as follows: 

if to the Issuer or any Guarantor: 
 Buccaneer Merger Sub, Inc. 
 520 Madison Avenue 

New York, NY 10022 
 Facsimile: (202) 347-1629 
 Attention: Mark Johnson 

if to the Trustee: 
 Wilmington Trust FSB 
 246 Goose Lane, Suite 105 

Guilford, CT 06437 
 Facsimile: (203) 452-1183 
 Attention: Corporate Capital Markets 

The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication mailed to a Holder shall be mailed to the Holder at the Holder’s address as
it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. Any notice or communication shall also be so mailed or delivered to any Person described in TIA § 313(c), to the
extent required by the TIA. 
 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 mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party
elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be
deemed controlling. The Trustee shall not be liable for any losses, 

  
 -107-

 
costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a
subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of
the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 
 SECTION 12.2.
Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer to the Trustee to take or refrain from taking any action under this Indenture (except in connection with the original issuance of Notes on the
date hereof), the Issuer shall furnish to the Trustee: 
 (i) an Officer’s Certificate in form reasonably
satisfactory to the Trustee 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; 

(ii) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel,
all such conditions precedent have been complied with; and 
 (iii) if required by the TIA, an Independent
Certificate from a firm of certified public accountants meeting the applicable requirements therein. 
 SECTION 12.3.
Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall
comply with the provisions of TIA § 314(e) and also shall include: 
 (i) a statement that the individual
making such certificate or opinion has read such covenant or condition; 
 (ii) 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; 
 (iii) a statement that, in the opinion of such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or
condition has been complied with; and 
 (iv) 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 12.4. [Reserved].

 SECTION 12.5. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by, or a
meeting of, Holders. The Registrar and the Paying Agent may make reasonable rules for their functions. 

  
 -108-

 SECTION 12.6. Days Other than Business Days. If a payment date is not a Business Day,
payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue for the intervening period. If a regular Record Date is not a Business Day, the Record Date shall not be affected. 

SECTION 12.7. 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 without giving effect to the applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 

SECTION 12.8. Waiver of Jury Trial. EACH OF THE ISSUER, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, 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 INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 12.9. No Recourse Against Others. An incorporator, director, officer, employee, stockholder or controlling person, as
such, of the Issuer or Holdings or any other direct or indirect parent or any Guarantor shall not have any liability for any obligations of the Issuer or any Guarantor 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. By accepting a Note, each Holder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Notes. This waiver may not be
effective to waive liabilities under the federal securities laws. 
 SECTION 12.10. Successors. All agreements of the
Issuer 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 12.11. 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. One
signed copy is enough to prove this Indenture. 
 SECTION 12.12. Variable Provisions. The Issuer initially appoints the
Trustee as Paying Agent and Registrar and Notes Custodian with respect to any Global Notes. 
 SECTION 12.13. Table of
Contents; Headings. The table of contents, cross-reference sheet 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 12.14. 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 efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

  
 -109-

 SECTION 12.15. USA Patriot Act. The parties hereto acknowledge that in accordance
with Section 326 of the USA Patriot Act the Trustee and the Trust Officers, like all financial institutions and in order to help fight the funding of terrorism and money laundering, are 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 agreement agree that they shall provide the Trustee and the Trust Officers with such information as they may request in order to satisfy
the requirements of the USA Patriot Act. 
 SECTION 12.16. Trust Indenture Act Controls. If any provision hereof limits,
qualifies or conflicts with the duties imposed by TIA § 318(c), the imposed duties shall control. 
 SECTION 12.17.
Communication by Holders of Notes with Other Holders of Notes. Holders of the Notes may communicate pursuant to TIA § 312(b) with other Holders of Notes with respect to their rights under this Indenture or the Notes. The Issuer, the
Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 [Signature Pages Follow] 

  
 -110-

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

			
	BUCCANEER MERGER SUB, INC.
		
	By:	 	/s/ Mark Johnson
		 	Name: Mark Johnson
		 	Title:Vice President and Secretary

 [Signature Page to Indenture] 

 
					
	WILMINGTON TRUST FSB, as Trustee
		
	By:	 	/s/ Timothy P. Mowdy
		 	Name:	 	Timothy P. Mowdy
		 	Title:	 	Vice President

 [Signature Page to Indenture] 

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 
 Global Note Legend, if applicable 

Private Placement Legend, if applicable 
 Temporary Regulation S Legend, if applicable 

  
 A-1

			
	 No. [    ]
	  	Principal Amount
$[                        ],
		  	as revised by the Schedule of Increases
		  	or Decreases in the Global Note attached hereto

 CUSIP NO.
                 
 BUCCANEER MERGER SUB,
INC. 
 9.125% Senior Note due 2019 
 Buccaneer Merger Sub, Inc., a Delaware corporation, promises to pay to
[                         ], or registered assigns, the initial principal amount set forth on the Schedule of Increases or
Decreases in the Global Note attached hereto, as revised by the Schedule of Increases or Decreases in the Global Note attached hereto, on January 15, 2019. 
 Interest Payment Dates: July 15 and January 15. 
 Record Dates:
June 30 and December 30. 
 Additional provisions of this Note are set forth on the other side of this Note.

  
 A-2

 
					
	BUCCANEER MERGER SUB, INC.
		
	By:	 	 
		 	Name:	 	Mark Johnson
		 	Title:	 	Vice President and Secretary

  
 A-3

									
	 TRUSTEE’S CERTIFICATE OF
 AUTHENTICATION
	 		 	
			
	WILMINGTON TRUST FSB	 		 	
			
	 as Trustee, certifies that this is one of the
 Notes referred to in the Indenture.
	 		 	
					
	By:	 	 	 		 		 	
		 	Authorized Signatory	 		 	Date:	 	

  
 A-4

 [FORM OF REVERSE SIDE OF NOTE] 

9.125% Senior Note due 2019 
  

	1.	Interest  

 Buccaneer
Merger Sub, Inc., a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Issuer”), promises to pay interest on the principal amount of this Note
at the rate per annum shown above. 
 The Issuer shall pay interest semiannually on July 15 and
January 15 of each year, with the first interest payment to be made on July 15, 2011.1 Interest on the Notes shall accrue from the most recent date to which interest has been paid on the Notes or, if no interest has been paid, from December 22, 2010.2 The Issuer shall pay interest on overdue principal or premium, if any (plus interest on such interest to the extent
lawful), at the rate borne by the Notes to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Issuer shall pay interest on overdue principal at 2% per annum in excess of the above rate and
shall pay interest on overdue installments of interest at such higher rate to the extent lawful. 
  

	2.	Method of Payment  

 By no
later than 10:00 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 shall irrevocably deposit with the Trustee or the Paying Agent money sufficient to pay such
principal, premium, if any, and/or interest. The Issuer shall pay interest (except Defaulted Interest) to the Persons who are registered Holders of Notes at the close of business on the June 30 and December 30 next preceding the Interest
Payment Date unless Notes are cancelled, repurchased or redeemed after the record date and before the Interest Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Issuer shall pay principal, premium, if
any, and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts. Payments in respect of Notes represented by a Global Note (including principal, premium, if any, and interest) shall
be made by the transfer of immediately available funds to the accounts specified by the Depositary. The Issuer shall make all payments in respect of a Definitive Note (including principal, premium, if any, and interest) by mailing a check to the
registered address of each Holder thereof. 
  

	3.	Paying Agent and Registrar  

 Initially, Wilmington Trust FSB, duly organized and existing under the laws of the United States of America and having a corporate trust office at 1100 North Market Street, Rodney Square 

 

	1 	 With respect to the Initial Notes. 

	2 	 With respect to the Initial Notes. 

  
 A-5

 North, Wilmington, DE 19890 (“Trustee”), shall act as Paying Agent and Registrar. The
Issuer may appoint and change any Paying Agent, Registrar or co-registrar without notice to any Holder. The Issuer or any of its domestically incorporated Wholly-Owned Subsidiaries may act as Paying Agent, Registrar or co-registrar. 

 

	4.	Indenture  

 The Issuer
issued the Notes under an Indenture dated as of December 22, 2010 (as it may be amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), among the Issuer, the Guarantors and the Trustee.
The terms of the Notes include those stated in the Indenture. Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Holders are referred to the
Indenture and the Securities Act for a statement of those terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. 

The Notes are senior unsecured obligations of the Issuer. This Note is one of the 9.125% Senior Notes due 2019 referred to in the
Indenture. The Notes include (i) $475,000,000 aggregate principal amount of the Issuer’s 9.125% Senior Notes due 2019 issued under the Indenture on December 22, 2010 (herein called “Initial Notes”), (ii) pursuant
to the Exchange Offer, Exchange Notes from time to time for issue only in exchange for a like principal amount of Initial Notes and (iii) if and when issued, additional 9.125% Senior Notes due 2019 of the Issuer that may be issued from time to
time under the Indenture subsequent to December 22, 2010 (herein called “Additional Notes”). The Indenture contains the terms and restrictions set forth in the Indenture or made a part of the Indenture pursuant to the
requirements of the TIA. 
  

	5.	Guarantee  

 To guarantee
the due and punctual payment of the principal, premium, if any, and interest (including post-filing or post-petition interest) on the Notes and all other amounts payable by the Issuer 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, the Guarantors have unconditionally Guaranteed (and future guarantors shall unconditionally Guarantee), jointly and severally,
such obligations on a senior unsecured basis. 
  

	6.	Escrow of Proceeds; Special Mandatory Redemption  

 The Notes are subject to the provisions of an Escrow Agreement between the Issuer and Wilmington Trust FSB, as Escrow Agent. The Notes shall be subject to a Special Mandatory Redemption (the
“Special Mandatory Redemption”) whereby the Issuer will redeem all of the Notes at a price equal to 100.00% of the initial issue price of the Notes plus accrued and unpaid interest from the Issue Date up to, but not including, the
Special Mandatory Redemption Date in the event that (i) the Acquisition Date does not take place on or prior to March 31, 2011 (the “Outside Date”), (ii) at any time prior to the Outside Date, any conditions to the
release of the proceeds are deemed by the Issuer to be incapable of being satisfied on or prior to the Outside Date or (iii) at any time prior to the Outside Date, the Merger Agreement is terminated (any such event being a “Mandatory
Redemption Event”). Notwithstanding any other provision of Section 5.9 of the Indenture, if such an event occurs, the Issuer shall cause the notice of special mandatory redemption (the “Special Redemption Notice”) to
be mailed within three Business Day following the Mandatory Redemption Event, to the Trustee and the Escrow Agent. Concurrently with the delivery of the Special Redemption Notice, the Issuer shall request the Trustee to, at the Issuer’s
expense, mail 

  
 A-6

 
(by first-class mail to each holder’s registered address or otherwise in accordance with the procedures of DTC) a notice that a Special Mandatory Redemption is to occur. Within three
Business Days after the Trustee’s mailing of such notice of a Mandatory Redemption Event, the Issuer will perform the Special Mandatory Redemption (the date of such redemption, the “Special Mandatory Redemption Date”). Upon
release of the proceeds from the sale of the Notes to the Issuer in accordance with the Escrow Agreement, the Initial Notes shall no longer be subject to a Special Mandatory Redemption pursuant to Section 5.9 or otherwise. 

 

	7.	Redemption  

 (a) On and
after January 15, 2015, the Issuer may redeem the Notes, at its option, in whole at any time or in part from time to time, upon not less than 30 nor more than 60 days’ prior notice (provided that, in connection with (x) the
satisfaction and discharge of the Indenture or (y) defeasance of the Notes, in each case pursuant to Article VIII of the Indenture, a redemption notice may be given more than 60 days, but not more than one year, prior to such event)
mailed by first-class mail to each Holder’s registered address or otherwise in accordance with the procedures of DTC, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest and
Additional Interest, if any, to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on
January 15 of the years set forth below: 
  

					
	 Year
	  	Percentage	 
	 2015
	  	 	104.563	% 
	 2016
	  	 	102.281	% 
	 2017 and thereafter
	  	 	100.000	% 

 (b) At any time prior to January 15, 2015, the Issuer may redeem the Notes at its option, in whole
at any time or in part from time to time, upon not less than 30 nor more than 60 days’ prior notice mailed by first class mail to each Holder’s registered address or otherwise in accordance with the procedures of DTC, at a redemption price
equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any, to the applicable redemption date (subject to the right of holders of record on the
relevant record date to receive interest due on the relevant interest payment date). 
 (c) At any time and from time to time on
or prior to January 15, 2014, the Issuer may redeem in the aggregate up to 35% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) with the net cash proceeds of one or
more Equity Offerings (1) by the Issuer or (2) by Holdings or any other direct or indirect parent of the Issuer, to the extent the net cash proceeds thereof are contributed to the common equity capital of the Issuer or used to purchase
Capital Stock (other than Disqualified Stock) of the Issuer from it, at a redemption price (expressed as a percentage of the principal amount thereof) equal to 109.125% plus accrued and unpaid interest and Additional Interest, if any, to the
redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date); provided, however, that at least 65% of the original aggregate principal amount of
the Notes (calculated after giving effect to any issuance of Additional Notes) must remain outstanding after each such redemption; and provided, further, that such redemption shall occur within 90 days after the date on which any such
Equity Offering is consummated upon not less than 30 nor more than 60 days’ notice mailed to each Holder of Notes being redeemed and otherwise in accordance with the procedures set forth in this Indenture. 

  
 A-7

 (d) In connection with any redemption of Notes (including with the net cash proceeds of an
Equity Offering), any such redemption may, at the Issuer’s discretion, be subject to one or more conditions precedent, including consummation of any related Equity Offering. In addition, if such redemption or notice is subject to satisfaction
of one or more conditions precedent, such notice shall state that, in the Issuer’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice
may be rescinded in the event that any or all such conditions shall not have been satisfied by the redemption date, or by the redemption date so delayed. 
 (e) Unless the Issuer defaults in the payment of the redemption price, interest and Additional Interest, if any, will cease to accrue on the Notes or portions thereof called for redemption on the
applicable redemption date. 
 (f) Any redemption pursuant to this paragraph 7 shall be made pursuant to the provisions of
Article V of the Indenture. 
  

	[8.	Registration Rights Agreement. 

 The Notes are
entitled to the benefit of the Registration Rights Agreement.]3 
  

	9.	Change of Control; Asset Sales  

 (a) If a Change of Control occurs, unless the Issuer has exercised its right to redeem all of the Notes under Section 5.1 of the Indenture, each Holder shall have the right to require the
Issuer to repurchase all or any part (in integral multiples of $1,000 except that no Note may be tendered in part if the remaining principal amount would be less than $2,000) of such Holder’s Notes at a purchase price in cash equal to 101% of
the principal amount of the Notes plus accrued and unpaid interest and Additional Interest, if any, to, but excluding, the date of purchase (subject to the right of Holders of record on the relevant Record Date to receive interest due on the
relevant Interest Payment Date) as provided in, and subject to the terms of, the Indenture. 
 (b) In connection with any Change
of Control Offer (including with the net cash proceeds of an Equity Offering), any such Change of Control Offer may, at the Issuer’s discretion, be subject to one or more conditions precedent, including any related Equity Offering. In addition,
if such Change of Control Offer or notice is subject to satisfaction of one or more conditions precedent, such notice shall state that, in the Issuer’s discretion, the purchase date may be delayed until such time as any or all such conditions
shall be satisfied, or such 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 purchase date, or by the purchase date so delayed. 

 

	3 	 To be included in Notes bearing the Private Placement Legend. 

  
 A-8

 (c) In the event of an Asset Sale Offer that requires the purchase of Notes pursuant to
Section 3.7(c) of the Indenture, the Issuer shall be required to make an offer to all Holders to purchase Notes in accordance with Section 3.7(c) and 5.8 of the Indenture at an offer price in cash in an amount equal to
100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the date of purchase (subject to the rights of Holders of record on any Record Date to receive payments of interest on the related Interest Payment Date).
Holders of Notes that are the subject of an offer to purchase shall receive an Asset Sale Offer from the Issuer prior to any related purchase date and may elect to have such Note purchased pursuant to such offer by completing the form entitled
“Option of Holder To Elect Purchase” attached hereto, or transferring its interest in such Note by book-entry transfer, to the Issuer or a Paying Agent at the address specified in the notice at least three Business Days before the Purchase
Date. 
  

	10.	Denominations; Transfer; Exchange  

 The Notes are in registered form without coupons in minimum denominations of principal amount of $2,000 and whole multiples 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 any taxes and fees required by law or permitted by the Indenture. The Registrar need not
register the transfer of or exchange any Notes for a period beginning 15 Business Days before an Interest Payment Date and ending on such Interest Payment Date. 
  

	11.	Persons Deemed Owners  

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

 

	12.	Unclaimed Money  

 If
money for the payment of the principal of or premium, if any, or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Issuer at its request unless an abandoned property law designates another person.
After any such payment, Holders entitled to the money must look only to the Issuer and not to the Trustee for payment. 
  

	13.	Discharge and Defeasance  

Subject to certain conditions set forth in the Indenture, the Issuer at any time may terminate some or all of its obligations under the
Notes and the Indenture if the Issuer irrevocably deposits in trust with the Trustee money or U.S. Government Obligations (sufficient, without reinvestment, in the opinion of a nationally-recognized certified public accounting firm) for the payment
of principal, premium (if any) and interest on the Notes to redemption or maturity, as the case may be. 
  

	14.	Amendment, Waiver  

 The
Indenture and the Notes may be amended or waived as set forth in Article IX of the Indenture. 
  

	15.	Defaults and Remedies  

Events of Default shall be as set forth in Article VI of the Indenture. 

  
 A-9

 If an Event of Default occurs and is continuing, the Trustee or Holders of at least 25% in
aggregate principal amount of the outstanding Notes then outstanding may declare all the Notes to be due and payable immediately. Certain events of bankruptcy or insolvency with respect to the Issuer are Events of Default which shall result in the
Notes being due and payable immediately upon the occurrence of such Events of Default. 
 Holders may not enforce the Indenture
or the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Notes unless each receives indemnity or security reasonably satisfactory to the Trustee. Subject to certain limitations, Holders of a majority
in principal amount of the Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except a Default or Event of Default in payment of principal
or interest) if it determines that withholding notice is in their interest. 
  

	16.	Trustee Dealings with the Issuer  

 Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with
and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. 

 

	17.	No Recourse Against Others  

 A director, officer, employee, incorporator, stockholder or controlling person, as such, of the Issuer or Holdings or any other direct or indirect parent or any Guarantor shall not have any liability for
any obligations of the Issuer or any Guarantor under the Notes, the Indenture or the Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting a Note, each Holder waives and releases all
such liability. The waiver and release shall be part of the consideration for the issue of the Notes. This waiver may not be effective to waive liabilities under the Federal Securities laws. 

 

	18.	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. 

 

	19.	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). 
  

	20.	CUSIP Numbers  

 Pursuant
to a recommendation promulgated by the Committee on Uniform Note Identification Procedures the Issuer has caused CUSIP numbers to be printed on the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes and
reliance may be placed only on the other identification numbers placed thereon. 

  
 A-10

	21.	Successor Entity  

 When a
successor entity assumes, in accordance with the Indenture, all the obligations of its predecessor under the Notes and the Indenture, and immediately before and thereafter no Default or Event of Default exists and all other conditions of the
Indenture are satisfied, the predecessor entity shall be released from those obligations. 
  

	22.	Governing Law  

 This Note
shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to the applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required
thereby. 
 The Issuer shall furnish to any Holder upon written request and without charge to the Holder a copy of the Indenture
which has in it the text of this Note in larger type. Requests may be made to: 
 Buccaneer Merger Sub, Inc. 

520 Madison Avenue 
 New York, NY 10022 
 Facsimile: (202) 347-1692 

Attention: Mark Johnson 

  
 A-11

 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 soc. sec. 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 SEC Rule 17Ad-15. 

  
 A-12

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 
 The initial principal amount of the Note shall be $ [                    ]. 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-13

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 3.7 or 3.9 of the Indenture, check
the box: 

 ̈              ̈ 
 3.7             3.9

 If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 3.7 or 3.9
of the Indenture, state the amount in principal amount (must be in denominations of $2,000 or integral multiples of $1,000 in excess thereof): $ 
  

									
	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 SEC Rule 17Ad-15. 

  
 A-14

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Buccaneer Merger Sub, Inc. 

520 Madison Avenue 
 New York, NY 10022

 Facsimile: (202) 347-1692 

Attention:  Mark Johnson 
 Wilmington Trust
FSB 
 246 Goose Lane, Suite 105 

Guilford, CT 06437 
 Facsimile:
(203) 452-1183 
 Attention:  Corporate Capital Markets 
 Re: 9.125% Senior Notes due 2019  
 Reference is hereby made to the
Indenture, dated as of December 22, 2010 (the “Indenture”), between Buccaneer Merger Sub, Inc., as Issuer (the “Issuer”) and Wilmington Trust FSB, as Trustee. Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture. 

                     (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of
$                     in such Note[s] or interests (the “Transfer”), to
             (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 

[CHECK ALL THAT APPLY] 
  

									
	1.	 	 ̈	 	Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Definitive Note pursuant to Rule 144A. The Transfer is being
effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or
Definitive Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person
exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with
any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Definitive Note and in the Indenture and the Securities Act.

  
 B-1

									
			
	2.	 	 ̈	 	Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Definitive Note pursuant to Regulation
S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United
States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y)
the transaction was executed in, on or through the facilities of a designated off-shore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States,
(ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements
of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser).
Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on
the Regulation S Global Note and/or the Definitive Note and in the Indenture and the Securities Act.
			
	3.	 	 ̈	 	Check and complete if Transferee will take delivery of a beneficial interest in the IAI Global Note or an Unrestricted Global Note pursuant to any
provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one):
					
		 		 	(a)	 	 ̈	  	such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;
	
	or
					
		 		 	(b)	 	 ̈	  	or such Transfer is being effected to the Issuer or a subsidiary thereof;
	
	or
					
		 		 	(c)	 	 ̈	  	such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the
Securities Act;
	
	or
					
		 		 	(d)	 	 ̈	  	such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule
144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer
restrictions applicable to beneficial interests in a Restricted Global Note or Restricted

  
 B-2

									
					
		 		 		 		  	Definitive Notes and the requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit E to the
Indenture and (2) if such Transfer is in respect of a principal amount of Notes at the time of transfer of less than $250,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this
certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Note and/or the Restricted Definitive Notes and in the Indenture and the Securities Act.
			
	4.	 	 ̈	 	Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive
Note.
					
		 		 	(a)	 	 ̈	  	Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with
the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.
					
		 		 	(b)	 	 ̈	  	Check if Transfer is pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are
not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.
					
		 		 	(c)	 	 ̈	  	Check if Transfer is pursuant to other exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of
the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not required in order

  
 B-3

									
		 		 		 		  	to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture.

 This certificate and the statements contained herein are made for your benefit and the benefit of the
Issuer. 
  

			
	
	 
	[Insert Name of Transferor]
		
	By:	 	 
		 	Name:
		 	Title:

Dated:                        
                 

  
 B-4

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 
  

							
	 (a)
	 	  ̈
	 	 a beneficial interest in the:

				
		 	 (i)
	 	  ̈
	  	144A Global Note (CUSIP [            ]), or
				
		 	 (ii)
	 	  ̈
	  	Regulation S Global Note (CUSIP [            ]), or
				
		 	 (iii)
	 	  ̈
	  	IAI Global Note (CUSIP [            ]), or
			
	 (b)
	 	  ̈
	 	 a Restricted Definitive Note.

  

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 
  

							
	 (a)
	 	  ̈
	 	 a beneficial interest in the:

				
		 	 (i)
	 	  ̈
	  	144A Global Note (CUSIP [            ]), or
				
		 	 (ii)
	 	  ̈
	  	Regulation S Global Note (CUSIP [            ]), or
				
		 	 (iii)
	 	  ̈
	  	Unrestricted Global Note (CUSIP [            ]), or
				
		 	 (iv)
	 	  ̈
	  	IAI Global Note (CUSIP [            ]), or
			
	 (b)
	 	 ̈	 	a Restricted Definitive Note; or
			
	 (c)
	 	 ̈	 	an Unrestricted Definitive Note,

 in accordance with the terms of the Indenture. 

  
 B-5

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Buccaneer Merger Sub, Inc. 

520 Madison Avenue 
 New York, NY 10022

 Facsimile: (202) 347-1692 

Attention:  Mark Johnson 
 Wilmington Trust
FSB 
 246 Goose Lane, Suite 105 

Guilford, CT 06437 
 Facsimile:
(203) 452-1183 
 Attention:  Corporate Capital Markets 
 Re: 9.125% Senior Notes due 2019  
 (CUSIP
[            ]) 
 Reference is hereby made to the Indenture, dated
as of December 22, 2010 (the “Indenture”), between Buccaneer Merger Sub, Inc., as Issuer (the “Issuer”) and Wilmington Trust FSB, as trustee. Capitalized terms used but not defined herein shall have the
meanings given to them in the Indenture. 

                     (the
“Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $             in such Note[s] or
interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 
 1.
Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note. 

(a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the
Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and
pursuant to and in accordance with the United States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for
the Owner’s own account without transfer, (ii) such Exchange has been 

  
 C-1

 
effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of
any state of the United States. 
 (c)  ̈ Check if Exchange is from Restricted
Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is
being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (d)  ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive
Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to
Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes. 

(a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted
Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 
 (b)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of the
Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] _ 144A Global Note, _ Regulation S Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the
Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions
on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 

  
 C-2

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Issuer. 
  

			
	
	 
	[Insert Name of Transferor]
		
	By:	 	 
		 	Name:
		 	Title:

 Dated:
                                        

  
 C-3

 EXHIBIT D 
 [FORM OF GUARANTY] 
 Pursuant to the Indenture (the “Indenture”)
dated as of December 22, 2010 between Buccaneer Merger Sub, Inc. (“Issuer”) and Wilmington Trust FSB, as trustee (the “Trustee”), each Guarantor, subject to the provisions of Article X of the Indenture,
hereby jointly and severally, unconditionally and irrevocably guarantees on an unsecured basis with each other Guarantor, to each Holder of the Notes, to the extent lawful, 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 of the Issuer under the Indenture and the Notes (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 Issuer 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 7.6 of the Indenture) (all the foregoing being hereinafter collectively called the “Guarantor Obligations”). Each Guarantor agrees (to the extent lawful) that the Guarantor Obligations may be
extended or renewed, in whole or in part, without notice or further assent from it, and that it shall remain bound under this Guaranty notwithstanding any extension or renewal of any Guarantor Obligation. 

The Guarantor Obligations of the Guarantors to the Holders of the Notes pursuant to the Guaranty and the Indenture are expressly set
forth in Article X of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guaranty. 

Each Guarantor also agrees to pay any and all reasonable costs and expenses (including reasonable attorneys’ fees) incurred by the
Trustee or the Holders in enforcing any rights under this Guaranty. 
 [Signature Pages Follow] 

  
 D-1

 
			
	[Name of Guarantor]
		
	By:	 	 
		 	Name:
		 	Title:

  
 D-2

 EXHIBIT E 
 FORM OF CERTIFICATE FROM 
 ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

 Buccaneer Merger Sub, Inc. 
 520
Madison Avenue 
 New York, NY 10022 

Facsimile: (202) 347-1692 
 Attention: 
Mark Johnson 
 Wilmington Trust FSB 

246 Goose Lane, Suite 105 
 Guilford, CT 06437

 Facsimile: (203) 452-1183 

Attention:  Corporate Capital Markets 
 Re: 9.125% Senior Notes due 2019  
 Reference is hereby made to the
Indenture (the “Indenture”) dated as of December 22, 2010 between Buccaneer Merger Sub, Inc. (“Issuer”) and Wilmington Trust FSB, as trustee (the “Trustee”). Capitalized terms used but not
defined herein shall have the meanings given to them in the Indenture. 
 In connection with our proposed purchase of
$                     aggregate principal amount of: 
 (a)  ̈ a beneficial interest in a Global Note, or 
 (b)  ̈ a Definitive Note, 
 we
confirm that: 
 1. We understand that any subsequent transfer of the Notes or any interest therein is subject to certain
restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with, such restrictions and conditions and the
Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the
Notes have not been registered under the Securities Act, and that the Notes and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are
acting as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (A) to the Issuer or any subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a “qualified
institutional buyer” (as defined therein), (C) to an institutional “accredited investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Issuer
a signed letter substantially in the form of this letter and, if such transfer is in 

  
 E-1

 
respect of a principal amount of Notes, at the time of transfer of less than $250,000, an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such transfer is in
compliance with the Securities Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant to an
effective registration statement under the Securities Act, and we further agree to provide to any Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses
(A) through (E) of this paragraph a notice advising such purchaser that resales thereof are restricted as stated herein. 
 3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we will be required to furnish to you and the Issuer such certifications, legal opinions and other information as
you and the Issuer may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that the Notes purchased by us will bear a legend to the foregoing effect. 

4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the
Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we and any accounts for which we are acting are each able to bear the
economic risk of our or its investment. 
 5. We are acquiring the Notes or beneficial interest therein purchased by us for our
own account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You and the Issuer are entitled to 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. 
  

			
	
	 
	 [Insert Name of Accredited Investor]

		
	By:	 	 
		 	Name:
		 	Title:

 Dated:
                                        

  
 E-2

 EXHIBIT F 
 Form of Supplemental Indenture 
 THIS [•] SUPPLEMENTAL INDENTURE,
dated as of [•], 201[•] (this “Supplemental Indenture”), is by and among Syniverse Holdings, Inc., a Delaware corporation (as successor to Buccaneer Merger Sub, Inc.) (the “Issuer”), each of the parties
identified as a New Subsidiary Guarantor on the signature pages hereto (each, a “New Subsidiary Guarantor” and collectively, the “New Subsidiary Guarantors”) and Wilmington Trust FSB, as trustee (the
“Trustee”). 
 W I T N E S S E T H 
 WHEREAS, the Issuer and the Trustee are parties to an indenture dated as of December 22, 2010 (the “Indenture”), providing for the issuance of the Issuer’s 9.125% Senior Notes
due 2019 (the “Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the New Subsidiary
Guarantors shall execute and deliver to the Trustee a supplemental indenture pursuant to which the New Subsidiary Guarantors shall unconditionally guarantee all of the Issuer’s obligations under the Notes and the Indenture on the terms and
conditions set forth herein; and 
 WHEREAS, pursuant to [Section 9.1 - Amendments Without Consent of Holders] of the Indenture,
the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the New Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes
as follows: 
 1. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to
them in the Indenture. 
 2. Agreements to Become Guarantors. Each of the New Subsidiary Guarantors hereby
unconditionally guarantees the Issuer’s obligations for the due and punctual payment of the principal of, premium, if any, and interest on all the Notes and the performance and observance of each other obligation and covenant set forth in the
Indenture to be performed or observed on the part of the Issuer, on the terms and subject to the conditions set forth in [Article 10-Guarantees] of the Indenture and agrees to be bound by all other provisions of the Indenture and the Notes
applicable to a Guarantor therein. 
 3. Ratification of Indenture; Supplemental Indenture 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. 

  
 F-1

 4. No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the the Issuer or Holdings or any other direct or indirect parent or any New Subsidiary Guarantor, as such, will have any liability for any obligations of the Issuer or the New Subsidiary Guarantors under the Notes, the Indenture, the
Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes, by accepting a Note, waives and releases all such liability. This waiver and release are part of the consideration for
issuance of the Notes. This waiver may not be effective to waive liabilities under the federal securities laws. 
 5.
Notices. For purposes of [Section 11.02 -Notices] of the Indenture, the address for notices to each of the New Subsidiary Guarantors shall be: 
 [c/o Syniverse Holdings, Inc. 
 8125 Highwoods Palm Way 

Tampa, FL 33647 

Facsimile: (813) 637-5000 
 Attention: Laura E. Binion, Esq.] 
 6. Governing Law. This Supplemental
Indenture shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to the applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would
be required thereby. This Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of the Indenture and this Supplemental Indenture and shall, to the extent applicable, be governed by such
provisions. 
 7. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed
copy shall be an original, but all of them together shall represent the same agreement. Delivery of an executed counterpart of a signature page to this Supplemental Indenture by telecopier, facsimile or other electronic transmission (i.e. a
“pdf” or “tif”) shall be effective as delivery of a manually executed counterpart thereof. 
 8. Effect
of Headings. The section headings herein are for convenience only and shall not affect the construction hereof. 
 9. The
Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely
by each of the New Subsidiary Guarantors. 
 [remainder of page intentionally blank] 

  
 F-2

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

			
	SYNIVERSE HOLDINGS, INC.
		
	By:	 	 
		 	Name: [                    ]
		 	Title:   [                    ]

  

			
	[•], as a New Subsidiary Guarantor
		
	By:	 	 
		 	Name: [                    ]
		 	Title:   [                    ]

  
 F-3

 
			
	WILMINGTON TRUST FSB, as Trustee
		
	By:	 	 
		 	Name: [                    ]
		 	Title:   [                    ]

  
 F-4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]