Document:

Document

Exhibit 10.1
Execution Version

FIRST AMENDMENT TO 
LOAN AND SECURITY AGREEMENT 

This FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of December 30, 2020, is by and among CALIX, INC., a Delaware corporation (the “Borrower”), each of the lenders signatory hereto (the “Lenders”), and BANK OF AMERICA, N.A., as agent for the Lenders (in such capacity, the “Agent”).  Capitalized terms used herein and not otherwise defined shall have the meaning assigned such term in the Loan Agreement (as defined below).
RECITALS:

A.    The Borrower, the Lenders and the Agent are parties to that certain Loan and Security Agreement, dated as of January 27, 2020 (as amended to but excluding the date hereof, the “Loan Agreement”).
B.    The Borrower has requested that the Agent and the Lenders amend the Loan Agreement as set forth herein.
C.    The parties hereto have agreed to amend the Loan Agreement as set forth below.
NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:
SECTION 1.01Amendments to Loan and Security Agreement.

(a)The definition of “Unused Line Fee Rate” as set forth in Section 1.1 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in replacement thereof:
Unused Line Fee Rate:  a per annum rate equal 0.25%.
(b)Section 8.1 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in replacement thereof:
Borrowing Base Reports.  By the 28th day of each fiscal quarter of the Borrowers, Borrowers shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Report as of the close of business of the previous fiscal quarter of the Borrowers so long as Revolver Usage is $0, provided, that, if at any time during any month Revolver Usage is greater than $0, by the 15th day of the following month, Borrowers shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Report as of the close of business of such previous month, provided further, that, at any time a Trigger 

Period is in effect, Borrowers shall deliver to Agent a Borrowing Base Report as of the third Business Day of each week prepared as of the close of business of the previous week.  All information (including calculation of Availability) in a Borrowing Base Report shall be certified by Borrower Agent.  Agent may from time to time adjust such report to the extent any information or calculation does not comply with this Agreement.  Notwithstanding the above, if during any period in which Borrowers are required to deliver a Borrowing Base Report quarterly as set forth above, Borrowers request a Loan or issuance of a Letter of Credit causing Revolver Usage to exceed the lesser of $5,000,000 or 25% of Availability then in effect, Borrowers shall as a condition to such Loan or issuance of Letter of Credit deliver to Agent a Borrowing Base Report prepared as of a date no earlier than 45 days prior to the date of such Loan or issuance of Letter of Credit and continue to deliver Borrowing Base Reports monthly as set forth above until Revolver Usage has been less than $5,000,000 for 30 consecutive days.
(c)Section 10.1.1(a) of the Loan Agreement is hereby amended by adding the following to the end of such section: 
Notwithstanding the above, Agent shall not conduct a field examination or request an appraisal of the Inventory if during the prior 90 day period, (x) Revolver Usage has at all times been less than $5,000,000  and (y) Revolver Usage has been $0 for at least 60 days of such 90 day period; provided, that regardless of the above restriction, Agent shall conduct at least one field exam during each 30 month period commencing with September 2019.
SECTION 1.02Representations and Warranties.  The Borrower hereby represents and warrants to each Lender and the Agent, on the First Amendment Effective Date (as hereinafter defined), as follows:
(a)After giving effect to this Amendment, the representations and warranties set forth in Section 9 of the Loan Agreement and in each other Loan Document, are true and correct in all material respects on and as of the date hereof and on and as of the First Amendment Effective Date with the same effect as if made on and as of the date hereof or the First Amendment Effective Date, as the case may be, except to the extent such representations and warranties expressly relate solely to an earlier date (in which event such representations or warranties were true and correct in all material respects as of such earlier date).
(b)No Default or Event of Default (except as set forth herein) has occurred and is continuing, or would result from the execution, delivery or performance by the Borrower of this Amendment.

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(c)The Borrower is duly authorized to execute, deliver and perform this Amendment.  
(d)This Amendment is a legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement of creditors’ rights generally and the availability of equitable remedies.
(e)The execution, delivery and performance of this Amendment have been duly authorized by all necessary action, and do not (a) require any consent or approval of any holders of Equity Interests of the Borrower, except those already obtained; (b) contravene the Organic Documents of the Borrower; (c) violate or cause a default under any Applicable Law or Material Contract except as could not reasonably be expected to result in a Material Adverse Effect; or (d) result in or require imposition of a Lien (other than a Permitted Lien) on the Borrower’s Property.
SECTION 1.03Effectiveness.  This Amendment shall become effective only upon satisfaction of the following condition precedent (the date upon which such condition has been satisfied being herein called the “First Amendment Effective Date”): the Agent shall have received duly executed counterparts of this Amendment which, when taken together, bear the authorized signatures of the Borrower, the Agent and the Lenders.
SECTION 1.04Expenses.  The Borrower shall pay all reasonable and documented out-of-pocket expenses incurred by Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including, but not limited to, the reasonable and documented fees and disbursements of counsel to the Agent.
SECTION 1.05Reserved.  
SECTION 1.06Cross-References.  References in this Amendment to any Section are, unless otherwise specified, to such Section of this Amendment.
SECTION 1.07Instrument Pursuant to Loan Agreement.  This Amendment is a Loan Document executed pursuant to the Loan Agreement and shall (unless otherwise expressly indicated herein) be construed, administered and applied in accordance with the terms and provisions of the Loan Agreement.
SECTION 1.08Further Acts.  Each of the parties to this Amendment agrees that at any time and from time to time upon the written request of any other party, it will execute and deliver such further documents and do such further acts and things as such other party may reasonably request in order to effect the purposes of this Amendment.
SECTION 1.09Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.
(a)THIS AMENDMENT, THE OTHER LOAN DOCUMENTS (EXCEPT AS OTHERWISE EXPRESSLY PROVIDED THEREIN) AND ALL CLAIMS SHALL BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING 

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EFFECT TO ANY CONFLICT OF LAW PRINCIPLES EXCEPT FEDERAL LAWS RELATING TO NATIONAL BANKS.
(b)EACH PARTY HERETO HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION OF ANY STATE COURT SITTING IN NEW YORK COUNTY, NEW YORK, OR THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, IN ANY DISPUTE, ACTION, LITIGATION OR OTHER PROCEEDING RELATING IN ANY WAY TO THIS AMENDMENT, AND AGREES THAT ANY DISPUTE, ACTION, LITIGATION OR OTHER PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT.  EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING ANY SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 14.3.1 OF THE LOAN AGREEMENT.  A final judgment in any proceeding of any such court shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or any other manner provided by Applicable Law.
(c)To the fullest extent permitted by Applicable Law, (a) each party hereto waives the right to trial by jury (which each Secured Party hereby also waives) in any proceeding or dispute of any kind relating in any way to this Amendment, Obligations or Collateral; (b) the Borrower waives presentment, demand, protest and notice of presentment; (c) the Borrower waives notice prior to taking possession or control of any Collateral except as required by the Loan Documents; (d) the Borrower waives any bond or security that might be required by a court prior to allowing Agent to exercise any rights or remedies; (e) to the extent permitted by law, the Borrower waives the benefit of all valuation, appraisement and exemption laws; (f) each party hereto waives any claim against an Indemnitee, on any theory of liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) in any way relating to any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g) the Borrower waives notice of acceptance hereof.  The Borrower acknowledges that the foregoing waivers are a material inducement to Agent, Issuing Bank and Lenders entering into this Amendment and that they are relying upon the foregoing in their dealings with the Borrower  The Borrower has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel.  In the event of litigation, this Amendment may be filed as a written consent to a trial by the court.
SECTION 1.10Counterparts.  This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.  Signature pages may be detached from multiple separate counterparts and attached to a single counterpart.  Delivery of an executed counterpart of a signature page of this 

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Amendment by telecopy or other electronic imaging means shall be as effective as delivery of a manually executed counterpart of this Amendment. The words “execution,” “execute,” “signature” and words of like import in this Amendment shall be deemed to include electronic signatures, which shall be of the same legal effect, validity or enforceability as a manually executed signature, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or any other similar state laws based on the Uniform Electronic Transactions Act.
SECTION 1.11Severability.  In case any provision in or obligation under this Amendment, the Loan Agreement or the other Loan Documents shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.
SECTION 1.12Benefit of Agreement  This Amendment shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the parties hereto; provided that the Borrower may not assign or transfer any of its interest hereunder without the prior written consent of the Lenders.
SECTION 1.13Integration.  This Amendment represents the agreement of the Borrower, the Agent and each of the Lenders signatory hereto with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties relative to the subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents.
SECTION 1.14Limited Effect.  Except as expressly set forth herein, the amendments provided herein shall not by implication or otherwise limit, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders or the Agent under the Loan Agreement or any other Loan Document, nor shall they constitute a waiver of any Event of Default, nor shall they alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Loan Agreement or any other Loan Document.  Each of the amendments provided herein shall apply and be effective only with respect to the provisions of the Loan Agreement specifically referred to by such amendments.  Except as expressly amended herein, the Loan Agreement and the other Loan Documents shall continue in full force and effect in accordance with the provisions thereof.  As used in the Loan Agreement, the terms “Agreement”, “herein”, “hereinafter”, “hereunder”, “hereto” and words of similar import shall mean, from and after the date hereof, the Loan Agreement as amended hereby.
    
[SIGNATURE PAGES FOLLOW]

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IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above written.
BORROWER:
CALIX, INC., a Delaware corporation 
By: /s/ Cory Sindelar                                      
Name: Cory Sindelar                                      
Title: CFO                                                      

Signature Page
First Amendment to Loan and Security Agreement

AGENT:
BANK OF AMERICA, N.A., as the Agent
By: /s/ Brett German                                      
Name: Brett German                                      
Title: Senior Vice President                           

Signature Page
First Amendment to Loan and Security Agreement

LENDERS:
BANK OF AMERICA, N.A., as a Lender
By: /s/ Brett German                                      
Name: Brett German                                      
Title: Senior Vice President                           

Signature Page
First Amendment to Loan and Security AgreementExhibit 4.20

 

 

ANTERO RESOURCES CORPORATION

 

to

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

 

Trustee

 

INDENTURE

 

Dated as of [                    ]
[     ], 20[     ]

 

SENIOR DEBT SECURITIES

 

 

     

     

    

 

ANTERO RESOURCES CORPORATION

 

Certain Sections of this Indenture relating
to Sections 310

through 318, inclusive, of the Trust Indenture Act of 1939, as amended

 

	
        Trust
        Indenture Act Section
	 	
        Indenture
        Section

	Section 310(a)(1)	 	609
	(a)(2)	 	609
	(a)(3)	 	Not Applicable
	(a)(4)	 	Not Applicable
	608	 	 
	Section 311(a)	 	613
	(b)	 	613
	Section 312(a)	 	701
	 	 	702
	702	 	 
	(c)	 	702
	Section 313(a)	 	703
	(b)	 	703
	(c)	 	703
	(d)	 	703
	Section 314(a)	 	704
	(a)(4)	 	101
	(b)	 	Not Applicable
	(c)(1)	 	102
	(c)(2)	 	102
	(c)(3)	 	Not Applicable
	(d)	 	Not Applicable
	(e)	 	102
	Section 315(a)	 	601
	(b)	 	602
	(c)	 	601
	(d)	 	601
	(e)	 	514
	Section 316(a)	 	101
	(a)(1)(A)	 	502
	 	 	512
	(a)(1)(B)	 	513
	(a)(2)	 	Not Applicable
	(b)	 	508
	(c)	 	104
	Section 317(a)(1)	 	503
	(a)(2)	 	504
	(b)	 	1003
	Section 318(a)	 	107

 

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

 

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Table of Contents

 

	 	Page
	Article I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	Section 101	Definitions	1
	Section 102	Compliance Certificates and Opinions	7
	Section 103	Form of Documents Delivered to Trustee	8
	Section 104	Acts of Holders; Record Dates	8
	Section 105	Notices, Etc., to Trustee, Company	11
	Section 106	Notice to Holders; Waiver	11
	Section 107	Trust Indenture Act Matters	12
	Section 108	Effect of Headings and Table of Contents	12
	Section 109	Successors and Assigns	12
	Section 110	Separability Clause	12
	Section 111	Benefits of Indenture	12
	Section 112	Governing Law	13
	Section 113	Legal Holidays	13
	Section 114	No Adverse Interpretation of Other Agreements	13
	Section 115	No Personal Liability of Directors, Officers, Employees and Stockholders	13
	Section 116	Language of Notices, Etc.	13
	Section 117	Force Majeure	13
	Section 118	Waiver of Jury Trial	14
	Section 119	U.S.A. Patriot Act	14
	Article II SECURITY FORMS	14
	Section 201	Forms Generally	14
	Section 202	Form of Face of Security	15
	Section 203	Form of Reverse of Security	17
	Section 204	Form of Legend for Global Securities	21
	Section 205	Form of Trustee’s Certificate of Authentication	21
	Article III THE SECURITIES	21
	Section 301	Amount Unlimited; Issuable in Series	21
	Section 302	Denominations	25
	Section 303	Execution, Authentication, Delivery and Dating	25
	Section 304	Temporary Securities	26
	Section 305	Registration, Registration of Transfer and Exchange	26
	Section 306	Mutilated, Destroyed, Lost and Wrongfully Taken Securities	29
	Section 307	Payment of Interest; Interest Rights Preserved	30
	Section 308	Persons Deemed Owners	31
	Section 309	Cancellation	31
	Section 310	Computation of Interest	32
	Section 311	CUSIP Numbers	32

 

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	Article IV SATISFACTION AND DISCHARGE	32
	Section 401	Satisfaction and Discharge of Indenture	32
	Section 402	Application of Trust Money	33
	Article V REMEDIES	34
	Section 501	Events of Default	34
	Section 502	Acceleration of Maturity; Rescission and Annulment	35
	Section 503	Collection of Indebtedness and Suits for Enforcement by Trustee	36
	Section 504	Trustee May File Proofs of Claim	37
	Section 505	Trustee May Enforce Claims Without Possession of Securities	37
	Section 506	Application of Money Collected	37
	Section 507	Limitation on Suits	38
	Section 508	Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert	38
	Section 509	Restoration of Rights and Remedies	39
	Section 510	Rights and Remedies Cumulative	39
	Section 511	Delay or Omission Not Waiver	39
	Section 512	Control by Holders	39
	Section 513	Waiver of Past Defaults	39
	Section 514	Undertaking for Costs	40
	Section 515	Waiver of Usury, Stay or Extension Laws	40
	Article VI THE TRUSTEE	40
	Section 601	Certain Duties and Responsibilities	40
	Section 602	Notice of Defaults	41
	Section 603	Certain Rights of Trustee	42
	Section 604	Not Responsible for Recitals or Issuance of Securities	43
	Section 605	May Hold Securities	43
	Section 606	Money Held in Trust	44
	Section 607	Compensation and Reimbursement	44
	Section 608	Conflicting Interests	45
	Section 609	Corporate Trustee Required; Eligibility	45
	Section 610	Resignation and Removal; Appointment of Successor	45
	Section 611	Acceptance of Appointment by Successor	46
	Section 612	Merger, Conversion, Consolidation or Succession to Business	47
	Section 613	Preferential Collection of Claims Against Company	47
	Section 614	Appointment of Authenticating Agent	47
	Article VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	48
	Section 701	Company to Furnish Trustee Names and Addresses of Holders	48
	Section 702	Preservation of Information; Communications to Holders	49
	Section 703	Reports by Trustee	49
	Section 704	Reports by Company	49

 

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	Article VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	50
	Section 801	Company May Consolidate, Etc., Only on Certain Terms	50
	Section 802	Successor Substituted	50
	Article IX SUPPLEMENTAL INDENTURES	51
	Section 901	Supplemental Indentures Without Consent of Holders	51
	Section 902	Supplemental Indentures With Consent of Holders	52
	Section 903	Execution of Supplemental Indentures	53
	Section 904	Effect of Supplemental Indentures	53
	Section 905	Conformity with Trust Indenture Act	53
	Section 906	Reference in Securities to Supplemental Indentures	54
	Article X COVENANTS	54
	Section 1001	Payment of Principal, Premium and Interest	54
	Section 1002	Maintenance of Office or Agency	54
	Section 1003	Money for Securities Payments to Be Held in Trust	55
	Section 1004	Corporate Existence	55
	Section 1005	Statement by Officers as to Default	56
	Section 1006	Waiver of Certain Covenants	56
	Article XI REDEMPTION OF SECURITIES	56
	Section 1101	Applicability of Article	56
	Section 1102	Election to Redeem; Notice to Trustee	56
	Section 1103	Selection by Trustee of Securities to Be Redeemed	57
	Section 1104	Notice of Redemption	58
	Section 1105	Deposit of Redemption Price	59
	Section 1106	Securities Payable on Redemption Date	59
	Section 1107	Securities Redeemed in Part	60
	Section 1108	No Limit on Repurchases	60
	Article XII SINKING FUNDS	60
	Section 1201	Applicability of Article	60
	Section 1202	Satisfaction of Sinking Fund Payments with Securities	61
	Section 1203	Redemption of Securities for Sinking Fund	61
	Article XIII DEFEASANCE AND COVENANT DEFEASANCE	61
	Section 1301	Company’s Option to Effect Defeasance or Covenant Defeasance	61
	Section 1302	Defeasance and Discharge	62
	Section 1303	Covenant Defeasance	62
	Section 1304	Conditions to Defeasance or Covenant Defeasance	63
	Section 1305	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	64
	Section 1306	Reinstatement	65

 

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INDENTURE, dated
as of                     ,
20        between Antero Resources Corporation, a corporation duly organized and existing
under the laws of the State of Delaware (herein called the “Company”), having its principal office at 1615 Wynkoop
Street, Denver, Colorado 80202, and Wells Fargo Bank, National Association, a national banking association duly organized and existing
under the laws of the United States of America, as Trustee (herein called the “Trustee”).

 

RECITALS OF THE COMPANY

 

The Company has duly
authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures,
notes or other evidences of indebtedness (herein called the “Securities”) to be issued in one or more series as in
this Indenture provided.

 

All things necessary
to make this Indenture a valid agreement of the Company in accordance with its terms have been done.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

For and in consideration
of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate
benefit of all Holders of the Securities or of series thereof, as follows:

 

Article I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 101      Definitions. For all purposes of this Indenture, except as otherwise expressly provided or unless the context
otherwise requires:

 

(1)              
the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well
as the singular;

 

(2)              
all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein,
have the meanings assigned to them therein;

 

(3)              
all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP;

 

(4)              
unless the context otherwise requires, any reference to an “Article” or a “Section” refers
to an Article or a Section, as the case may be, of this Indenture;

 

(5)               the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture
as a whole and not to any particular Article, Section or other subdivision;

 

(6)               when
used with respect to any Security, the words “convert,” “converted” and “conversion” are
intended to refer to the right of the Holder or the Company to convert or exchange such Security into or for securities or
other property in accordance with such terms, if any, as may hereafter be specified for such Security as contemplated by
Section 301, and these words are not intended to refer to any right of the Holder or the Company to exchange such
Security for other Securities of the same series and like tenor pursuant to Sections 304, 305, 306, 906 or 1107 or
another similar provision of this Indenture, unless the context otherwise requires; and references herein to the terms of any
Security that may be converted mean such terms as may be specified for such Security as contemplated in Section 301;

 

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(7)              
unless the context otherwise requires, any reference to “duly provided for” and other words of similar
import with respect to any amount or property required to be paid or delivered, as applicable, shall include, without limitation,
having made such amount or property available for payment or delivery;

 

(8)              
references to sections of or rules under the Securities Act shall be deemed to include substitute, replacement of
successor sections or rules adopted by the Commission from time to time;

 

(9)              
when the words “includes” or “including” are used herein, they shall be deemed to be followed
by the words “without limitation;” and

 

(10)            
“or” is not exclusive.

 

“Act,”
when used with respect to any Holder, has the meaning specified in Section 104.

 

“Affiliate”
of any specified Person means any other Person directly or indirectly controlling or controlled by, or under direct or indirect
common control with, such specified Person. For the purposes of this definition, “control” when used with respect to
any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

 

“Applicable Procedures”
of a Depositary means, with respect to any matter at any time, the policies and procedures of such Depositary, if any, that are
applicable to such matter at such time.

 

“Authenticating
Agent” means, when used with respect to Securities of any series, any Person authorized by the Trustee to act on behalf of
the Trustee to authenticate the Securities of such series.

 

“Board of Directors”
means any of (1) the board of directors of the Company, (2) any duly authorized committee of that board or (3) any officer of the
Company duly authorized by the board of directors of the Company to take a specified action.

 

“Board Resolution”
means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the
Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. Where any
provision of this Indenture refers to action to be taken pursuant to a Board Resolution (including the establishment of any series
of the Securities and the forms and terms thereof), such action may be taken by any officer or employee of the Company authorized
to take such action by the Board of Directors as evidenced by a Board Resolution.

 

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“Business Day,”
when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on
which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close.

 

“Code”
means the United States Internal Revenue Code of 1986, as amended.

 

“Commission”
means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time
after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust
Indenture Act, then the body performing such duties at such time.

 

“Company”
means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor
Person.

 

“Company Request”
or “Company Order” means a written request or order signed in the name of the Company by any two Officers of the Company.

 

“Corporate Trust
Office” means the designated office of the Trustee at which this Indenture is administered and which, at the date hereof,
is located at CTSO Mail Operations, 600 South 4th Street, 7th Floor, MAC: N9300-070, Minneapolis, MN 55415, Attention: Antero Resources
Corporation Administrator, and for Agent services such office shall also mean the office or agency of the Trustee located at the
date hereof at Corporate Trust Operations, MAC N9300-070, 600 South Fourth Street, 7th Floor, Minneapolis, MN 55415 or at such
other address as the Trustee may designate from time to time by notice to the Company, or the principal corporate trust office
of any successor Trustee.

 

“corporation”
means a corporation, association, company (including a limited liability company), joint-stock company, business trust or other
business entity (other than a partnership).

 

“Covenant Defeasance”
has the meaning specified in Section 1303.

 

“Defaulted Interest”
has the meaning specified in Section 307.

 

“Defeasance”
has the meaning specified in Section 1302.

 

“Depositary”
means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global Securities, a clearing
agency registered under the Exchange Act that is designated to act as depositary for such Securities as contemplated by Section 301.

 

“DTC” has
the meaning specified in Section 104.

 

“Event of Default”
has the meaning specified in Section 501.

 

“Exchange Act”
means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time to time.

 

“Expiration Date”
has the meaning specified in Section 104.

 

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“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, the Public Company Accounting Oversight 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 from time to time. All ratio computations based on GAAP
contained in this Indenture will be computed in conformity with GAAP.

 

“Global Security”
means a Security that evidences all or part of the Securities of any series and bears the legend set forth in Section 204
(or such legend as may be specified as contemplated by Section 301 for such Securities).

 

“Holder”
means a Person in whose name a Security is, at the time of determination, registered in the Security Register.

 

“Indenture”
means this instrument as originally executed and as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and
any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument
and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of any particular
series or specific Securities within a series established as contemplated by Section 301.

 

“interest,”
when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest
payable after Maturity.

 

“Interest Payment
Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

 

“Maturity,”
when used with respect to any Security, means the date on which the principal of such Security or an installment of principal becomes
due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption
or otherwise.

 

“Notice of Default”
means a written notice of the kind specified in Section 501(4).

 

“Officer”
means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer,
the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such
Person (or, if such Person is a partnership, the general partner thereof) or any other officer or officers of such Person (or such
general partner) designated in a writing by or pursuant to authority of the Board of Directors (if such Person is the Company)
or the Guarantor’s Board of Directors with respect to such Guarantor (if such Person is a Guarantor) and delivered to the
Trustee from time to time.

 

“Officers’
Certificate” means a certificate signed on behalf of the Company by at least two Officers of the Company, one of whom
shall be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer
of the Company, that meets the requirements of Section 102.

 

    4

     

    

 

“Opinion of Counsel”
means a written opinion from legal counsel (who may be an employee of or counsel for the Company or any Affiliate thereof) that
meets the requirements of Section 102.

 

“Original Issue
Discount Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable
upon a declaration of acceleration of the Maturity thereof pursuant to Section 502.

 

“Outstanding,”
when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered
under this Indenture, except:

 

(1)              
Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

 

(2)              
Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the
Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company
shall act as its own Paying Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed,
notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has
been made;

 

(3)              
Securities as to which Defeasance has been effected pursuant to Section 1302;

 

(4)              
Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall
have been presented to the Trustee proof satisfactory to it that such Securities are held by a protected purchaser in whose hands
such Securities are valid obligations of the Company; and

 

(5)              
Securities as to which any property deliverable upon conversion thereof has been delivered (or such delivery has
been duly provided for), or as to which any other particular conditions have been satisfied, in each case as may be provided for
such Securities as contemplated in Section 301;

 

provided, however, that
in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken
any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (a) the
principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date
pursuant to Section 502, (b) if, as of such date, the principal amount payable at the Stated Maturity of a Security is
not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as
specified or determined as contemplated by Section 301, (c) the principal amount of a Security denominated in one or
more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S.
dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the principal
amount of such Security (or, in the case of a Security described in Clause (a) or (b) above, of the amount determined as
provided in such Clause), and (d) Securities owned by the Company, or any other obligor upon the Securities or any Affiliate
of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent,
waiver or other action, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so
disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that
the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company.

 

    5

     

    

 

“Paying Agent”
means any Person authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the
Company.

 

“Person”
means any individual, corporation, partnership, joint venture, trust, unincorporated organization or government or any agency or
political subdivision thereof.

 

“Place of Payment,”
when used with respect to the Securities of any series and subject to Section 1002, means the place or places where the principal
of and any premium and interest on the Securities of that series are payable as contemplated by Section 301.

 

“Predecessor
Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced
by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306
in exchange for or in lieu of a mutilated, destroyed, lost or wrongfully taken Security shall be deemed to evidence the same debt
as the mutilated, destroyed, lost or wrongfully taken Security.

 

“Redemption Date,”
when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture.

 

“Redemption Price,”
when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture.

 

“Regular Record
Date” for the interest payable on any Interest Payment Date on the Securities of any series, means the date specified for
that purpose as contemplated by Section 301.

 

“Responsible Officer,”
when used with respect to the Trustee, means any officer within the Corporate Trust Department of the Trustee (or any successor
department of the Trustee), including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust
officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated
officers who at the time shall be such officers and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject, and who,
in each case, has direct responsibility for the administration of this Indenture.

 

    6

     

    

 

“Securities”
has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered
under this Indenture.

 

“Securities Act”
means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time to time.

 

“Security Register”
and “Security Registrar” have the respective meanings specified in Section 305.

 

“Special Record
Date” for the payment of any Defaulted Interest, means a date fixed by the Company pursuant to Section 307.

 

“Stated Maturity,”
when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in
such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and
payable.

 

“Subsidiary,”
with respect to any Person, means any (1) corporation (other than a partnership) of which the outstanding capital stock having
a majority of the votes entitled to be cast in the election of directors, managers or trustees of such corporation under ordinary
circumstances shall at the time be owned, directly or indirectly, by such Person or any other Person of which a majority of the
voting interests under ordinary circumstances is at the time, directly or indirectly, owned by such Person or (2) any partnership
(a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the
only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).

 

“Trust Indenture
Act” means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture was executed; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act”
means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 

“Trustee”
means the Person named as the “Trustee” in the first paragraph of this Indenture until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include
each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used
with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series.

 

“Uniform Commercial
Code” means the Uniform Commercial Code in effect in the State of Delaware or the State of New York, as applicable, in each
case as amended from time to time.

 

“U.S. Government
Obligation” has the meaning specified in Section 1304.

 

“Vice President,”
when used with respect to the Company, means any executive vice president and any senior vice president, whether or not designated
by a number or a word or words added before or after the title “executive vice president” or “senior vice president.”

 

Section 102      Compliance
Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under
the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to
be given by an officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the
requirements of the Trust Indenture Act and any other requirements set forth in this Indenture.

 

    7

     

    

 

Every certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

 

(1)            a statement that each individual signing such certificate or opinion has read such covenant or condition and the
definitions herein relating thereto;

 

(2)           a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based;

 

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

 

(4)           a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with.

 

Section 103      Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by,
or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the
opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify
or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may
certify or give an opinion as to such matters in one or several documents.

 

Any certificate or
opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate
or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such
certificate or opinion of, or representation by, counsel may be based, insofar as it relates to factual matters, upon a certificate
or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual
matters is in the possession of the Company unless such counsel knows that the certificate or opinion or representations with respect
to such matters are erroneous.

 

Where any Person is
required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments
under this Indenture, they may, but need not, be consolidated and form one instrument.

 

Section 104      Acts
of Holders; Record Dates. Any request, demand, authorization, direction, notice, consent, waiver or other action provided
or permitted by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Holders in person or by an agent or agents duly appointed in
writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or
instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act”
of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of
the Trustee, the Company, if made in the manner provided in this Section 104.

 

    8

     

    

 

Without limiting the
generality of this Section 104, unless otherwise provided in or pursuant to this Indenture, (1) a Holder, including a Depositary
or its nominee that is a Holder of a Global Security, may give, make or take, by an agent or agents duly appointed in writing,
any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted in or pursuant to
this Indenture to be given, made or taken by Holders, and a Depositary or its nominee that is a Holder of a Global Security may
duly appoint in writing as its agent or agents members of, or participants in, such Depositary holding interests in such Global
Security in the records of such Depositary; and (2) with respect to any Global Security the Depositary for which is The Depository
Trust Company (“DTC”), any consent or other action given, made or taken by an “agent member” of DTC by
electronic means in accordance with the Automated Tender Offer Procedures system or other Applicable Procedures of, and pursuant
to authorization by, DTC shall be deemed to constitute the “Act” of the Holder of such Global Security, and such Act
shall be deemed to have been delivered to the Company, and the Trustee upon the delivery by DTC of an “agent’s message”
or other notice of such consent or other action having been so given, made or taken in accordance with the Applicable Procedures
of DTC.

 

The fact and date of
the execution by any Person of any instrument or writing may be proved by the affidavit of a witness of such execution or by a
certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity
other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The
fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be
proved in any other manner which the Trustee deems sufficient.

 

The ownership of Securities
shall be proved by the Security Register.

 

Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of
the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or
in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon,
whether or not notation of such action is made upon such Security.

 

With respect to
Securities of any series, the Company may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of such series entitled to give, make or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities
of such series, provided that the Company may set a record date for, and the provisions of this paragraph shall not
apply with respect to, the giving, making or taking of any notice, declaration, request or direction referred to in the next
paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series
on such record date, and no other Holders, shall be entitled to give, make or take the relevant action, whether or not such
Holders remain Holders after such record date; provided, however, that no such action shall be effective
hereunder unless given, made or taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent
the Company from setting a new record date for any action for which a record date has previously been set pursuant to this
paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of
no effect), and nothing in this paragraph shall be construed to render ineffective any action given, made or taken by Holders
of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is given, made or
taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice
of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing
and to each Holder of Securities of the relevant series in the manner set forth in Sections 105 and 106.

 

    9

     

    

 

The Trustee may set
any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in
the giving, making or taking of (A) any Notice of Default, (B) any declaration of acceleration referred to in Section 502,
(C) any request to institute proceedings referred to in Section 507(2) or (D) any direction referred to in Section 512,
in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be entitled to give, make or take such notice, declaration,
request or direction, whether or not such Holders remain Holders after such record date; provided, however, that
no such action shall be effective hereunder unless given, made or taken on or prior to the applicable Expiration Date by Holders
of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall
be construed to prevent the Trustee from setting a new record date for any action for which a record date has previously been set
pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled
and of no effect), and nothing in this paragraph shall be construed to render ineffective any action given, made or taken by Holders
of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is given, made or taken.
Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice
of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and
to each Holder of Securities of the relevant series in the manner set forth in Sections 105 and 106.

 

With respect to
any record date set pursuant to this Section 104, the party hereto which sets such record date may designate any day as
the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that
no such change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in
writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to
the existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this
Section 104, the party hereto which set such record date shall be deemed to have initially designated the 180th day
after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date to an
earlier day as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th
day after the applicable record date.

 

    10

     

    

 

Without limiting the
foregoing, a Holder entitled hereunder to give, make or take any action hereunder with regard to any particular Security may do
so, in person or by an agent duly appointed in writing, with regard to all or any part of the principal amount of such Security.

 

Section 105      Notices, Etc., to Trustee, Company. Any request, demand, authorization, direction, notice, consent, waiver
or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,
(1) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder (unless otherwise herein expressly
provided) if made, given, furnished or filed in writing and delivered in Person, mailed by first class mail (registered or certified,
return receipt requested), transmitted by facsimile or sent by overnight courier guaranteeing next Business Day delivery to or
with the Trustee addressed to it at its Corporate Trust Office or (2) the Company by the Trustee or by any Holder shall be sufficient
for every purpose hereunder (unless otherwise herein expressly provided) if made, given, furnished or filed in writing and delivered
in Person, mailed by first class mail (registered or certified, return receipt requested), transmitted by facsimile or sent by
overnight courier guaranteeing next Business Day delivery, to or with the Company addressed to it at the address of its principal
office specified in the first paragraph of this instrument, Attention: Chief Financial Officer, Facsimile: [___] with a copy to
Vinson & Elkins L.L.P., 1001 Fannin Street, Suite 2500, Houston, Texas 77002, Facsimile: [___], Attention: Douglas E. McWilliams,
or at any other address previously furnished in writing to the Trustee by the Company.

 

All requests, demands,
authorizations, directions, notices, consents, waivers or Acts of Holders or other such documents made, given, furnished or filed
with or to the Company shall be deemed to have been duly made, given, furnished or filed: (A) at the time delivered by hand, if
personally delivered; (B) five calendar days after being deposited in the mail, postage prepaid, if mailed; (C) when receipt is
acknowledged, if telecopied; and (D) the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next Business Day delivery. Notices given by publication will be deemed given on the first date on which publication
is made. Any notice or communication to the Trustee shall be deemed delivered upon receipt by a Responsible Officer of the Trustee.

 

Section 106      Notice to Holders; Waiver. Where this Indenture provides for notice or other communication to Holders of any
event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if given in writing and mailed by first
class mail (registered or certified, return receipt requested) or sent by overnight air courier guaranteeing next Business Day
delivery, to each Holder affected by such event, at such Holder’s address as it appears in the Security Register, not later
than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice or other
communication. Any notice or other communication shall also be so mailed or sent to any Person described in Section 313(c) of the
Trust Indenture Act, to the extent required by the Trust Indenture Act. Failure to mail or send a notice or other communication
to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders.

 

    11

     

    

 

If a notice or communication
is mailed or sent in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives
it. Where this Indenture provides for notice or other communication in any manner, such notice or other communication may be waived
in writing by the Person entitled to receive such notice or other communication, either before or after the event, and such waiver
shall be the equivalent of such notice or other communication. Waivers of notice or other communication by Holders shall be filed
with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver. If the Company mails a notice or communication to the Holders, it shall mail a copy to the Trustee at the same time.

 

In case by reason of
the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice or other communication
by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for
every purpose hereunder.

 

Where this Indenture
provides for notice or other communication with respect to any event or otherwise to a Holder of a Global Security, such notice
or other communication shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to
its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed
for the giving of such notice or other communication.

 

Section 107      Trust Indenture Act Matters. If any provision hereof limits, qualifies or conflicts with a provision of the
Trust Indenture Act which is required under such Act to be a part of and govern this Indenture, the latter provision shall control.
If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded,
the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. Whenever
this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by reference in and made a part
of this Indenture.

 

Section 108      Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents
are for convenience only and shall not affect the construction hereof.

 

Section 109      Successors and Assigns. All covenants and agreements in this Indenture and the Securities by the Company and
the Trustee, except as otherwise provided in Section 802, shall bind their respective successors and assigns, whether so expressed
or not.

 

Section 110      Separability Clause. In case any provision in this Indenture, or in the Securities shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby.

 

Section 111      Benefits of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right,
remedy or claim under this Indenture, except as may otherwise be provided pursuant to Section 301 with respect to any Securities
of a particular series or under this Indenture with respect to such Securities.

 

    12

     

    

 

Section 112      Governing Law.
This Indenture and the Securities and the rights and obligations of the parties hereto and thereto, including the interpretation,
construction, validity and enforceability thereof, shall be governed by and construed and interpreted in accordance with the law
of the State of New York.

 

Section 113      Legal Holidays. In any case where any Interest Payment Date, Redemption Date or Maturity of any Security,
or any date on which a Holder has the right to convert his Security, shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically
states that such provision shall apply in lieu of this Section 113)) payment of interest or principal (and premium, if any),
or conversion of such Security need not be made at such Place of Payment on such date, but may be made on the next succeeding Business
Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the
Maturity, or on such date for conversion, as the case may be, and if payment is so made or such conversion occurs, no interest
shall accrue for the period from and after such Interest Payment Date, such Redemption Date, the Maturity, or such date for conversion,
as the case may be.

 

Section 114      No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture,
loan or other agreement of the Company or any Subsidiaries of the Company or of any other Person. Any such indenture, loan or other
agreement may not be used to interpret this Indenture.

 

Section 115      No Personal Liability of Directors, Officers, Employees and Stockholders. No past, present or future director,
officer, employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company,
respectively, under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations
or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release
are part of the consideration for issuance of the Securities. The waiver may not be effective to waive liabilities under the federal
securities laws.

 

Section 116      Language of Notices, Etc. Any request, demand, authorization, direction, notice, consent, waiver, other action
or Act provided or permitted under this Indenture shall be in the English language, except that any published notice may be in
an official language of the country of publication.

 

Section 117      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, (i) any
act or provision of present or future law or regulation or governmental authority, (ii) labor disputes, strikes or work stoppages,
(iii) accidents, (iv) acts of war or terrorism, (v) civil or military disturbances or unrest, (vi) disease, (vii) epidemic or
pandemic, (viii) quarantine, (ix) national emergency, (x) nuclear or natural catastrophes or acts of God, (xi) interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services, (xii) communications system failure,
(xiii) malware or ransomware, (xiv) unavailability of the Federal Reserve Bank wire or other funds transfer systems, or (xv) unavailability
of any securities clearing system; it being understood that the Trustee shall use reasonable efforts that are consistent with
accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

    13

     

    

 

Section 118      Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER
OR IN CONNECTION WITH THIS INDENTURE.

 

Section 119       U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is
required to obtain, verify and record information that identities each person or legal entity that establishes a relationship or
opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information
as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

 

Section 120     Electronic
Signature. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for
all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures
for all purposes. This Indenture and any certificate, agreement or other document to be signed in connection with this Indenture
and the transactions contemplated hereby shall be valid, binding, and enforceable against a party only when executed and delivered
by an authorized individual on behalf of the party by means of (i) an original manual signature; (ii) a faxed, scanned, or photocopied
manual signature; or (iii) in the case of this Indenture and any certificate, agreement or other document to be signed in connection
with this Indenture and the transactions contemplated hereby, other than any Securities, any electronic signature permitted by
the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions
Act, and/or any other relevant electronic signatures law, including relevant provisions of the Uniform Commercial Code (collectively,
“Signature Law”).  Each electronic signature (except in the case of any Securities) or faxed, scanned, or photocopied
manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual
signature.  Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any
faxed, scanned, or photocopied manual signature, or other electronic signature (except in the case of any Securities), of any party
and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof.  For avoidance of
doubt, original manual signatures shall be used for execution or indorsement of writings when required under the Uniform Commercial
Code or other Signature Law due to the character or intended character of the writings.

 

Article II

SECURITY FORMS

 

Section 201      Forms
Generally. As to each series of Securities, the Securities of such series shall be in substantially the form set forth in
this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures
supplemental hereto, with such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities exchange or Depositary therefor or
as may, consistently herewith, be determined by the officers executing such Securities as evidenced by their execution
thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an
appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered
to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and
delivery of such Securities.

 

The definitive Securities
shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined
by the officers of the Company executing such Securities

 

    14

     

    

 

Section 202      Form of Face of Security.

 

[Insert any legend
required by the Internal Revenue Code and the regulations thereunder.]

 

CUSIP [               ]

 

	No.	$            

 

ANTERO RESOURCES CORPORATION

 

ANTERO RESOURCES
CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to),
for value received, hereby promises to pay
to               , or registered assigns, the
principal sum of                Dollars
on                [if the Security is to
bear interest prior to Maturity, insert — , and to pay interest thereon
from               (1)
or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually
on               
and                in each year,
commencing               , and at the Maturity
thereof, at the rate of       % per annum, until the principal hereof is paid or made available
for payment, provided that any premium, and any such installment of interest, which is overdue shall bear interest at
the rate of       % per annum (to the extent that the payment of such interest shall be legally
enforceable), from the date such overdue amount is due until such amount is paid or duly provided for, and such interest on
any overdue amount shall be payable on demand](2).
The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest, which shall be the
                or
                (whether or not a Business Day),
as the case may be, next preceding such Interest Payment Date. Any such interest so payable, but not punctually paid or duly
provided for, will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Company, notice whereof shall be given to
Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid in any other lawful
manner not inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such
notice as may be required by such exchange, all as more fully provided in said Indenture.

 

 

(1)
If the Securities of the applicable series are to be sold “flat”, insert the date of original issuance of Securities
of such series. If the Securities of the applicable series are to be issued “with accrued interest”, insert the Interest
Payment Date for Securities of such series next preceding the date of original issuance of Securities of such series.

(2)
To remain in brackets and italicized in indenture as executed.

 

    15

     

    

 

[If the Security
is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except in
the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue
principal and any overdue premium shall bear interest at the rate of [     ]% per annum (to the extent
that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made
available for payment. Interest on any overdue principal or premium shall be payable on demand. Any such interest on overdue principal
or premium which is not paid on demand shall bear interest at the rate of [     ]% per annum (to the extent
that the payment of such interest on interest shall be legally enforceable), from the date of such demand until the amount so demanded
is paid or made available for payment. Interest on any overdue interest shall be payable on demand.](2)

 

Payment of the principal
of (and premium, if any) and [if applicable, insert — any such] interest on this Security will be made at the
office or agency of the Company maintained for that purpose in the continental United States, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts, against surrender of this
Security in the case of any payment due at the Maturity of the principal thereof or any payment of interest becomes payable on
a day other than an Interest Payment Date; provided, however, that if this Security is not a Global Security, (1)
payment of interest on an Interest Payment Date will be made by check mailed to the address of the Person entitled thereto as such
address shall appear in the Security Register; and all other payments will be made by check against surrender of this Security;
(2) all payments by check will be made in next-day funds (i.e., funds that become available on the day after the check is cashed);
and (3) notwithstanding clauses (1) and (2) above, with respect to any payment of any amount due on this Security, if this Security
is in a denomination of at least $1,000,000 and the Holder hereof at the time of surrender hereof or, in the case of any payment
of interest on any Interest Payment Date, the Holder thereof on the related Regular Record Date delivers a written request to the
Paying Agent to make such payment by wire transfer at least fifteen days before the date such payment becomes due, together with
appropriate wire transfer instructions specifying an U.S. dollar account at a bank in the United States, the Company shall make
such payment by wire transfer of immediately available funds to such account at such bank in the United States, any such wire instructions,
once properly given by a Holder as to this Security, remaining in effect as to such Holder and this Security unless and until new
instructions are given in the manner described above and provided further, that notwithstanding anything in the foregoing
to the contrary, if this Security is a Global Security, payment shall be made pursuant to the Applicable Procedures of the Depositary
as permitted in said Indenture.

 

    16

     

    

 

Reference is hereby
made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

 

Unless the certificate
of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

IN WITNESS WHEREOF,
the Company has caused this instrument to be duly signed manually or by facsimile by its duly authorized officers.

 

	 	ANTERO RESOURCES CORPORATION,
    a Delaware corporation
	 	 
	 	By:	 
	 	Name:	                  
	 	Title:	 

 

Section 203      Form of Reverse of Security. This Security is one of a duly authorized issue of senior securities of the Company
(herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of [Insert
date of indenture] (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument),
among the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee,” which term includes
any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company , the Trustee and the Holders of the Securities and of the
terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated
on the face hereof [if applicable, insert — limited in aggregate principal amount to $               ].

 

This Security is the
general, unsecured, senior obligation of the Company and any other Person who shall become such in accordance with the Indenture
(the “Guarantors”). The Guarantee by each Guarantor is the general, unsecured, senior obligation of such Guarantor,
subject to the release and discharge thereof as provided in the Indenture].

 

[If applicable,
insert — The Securities of this series are subject to redemption upon not less than 30 days’ nor more than 60
days’ notice, at any time [if applicable, insert — on or after [               ],
20[  ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages
of the principal amount): If redeemed [if applicable, insert — on or before [               ],[     ]%,
and if redeemed] during the 12-month period beginning [               ]
of the years indicated, and thereafter at a Redemption Price equal to [     ]% of the principal amount,
together in the case of any such redemption with accrued interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor
Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in
the Indenture.]](2)

 

	Year	 	Redemption Price	 	Year	 	Redemption Price
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    17

     

    

 

 

[If applicable,
insert — The Securities of this series are subject to redemption upon not less than 30 nor more than 60 days’ notice
by mail, (1) on [               ] in any year commencing
with the year [               ] and ending with the
year [               ] through operation of the sinking
fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of
the principal amount) set forth in the table below, and (2) at any time [if applicable, insert — on or after [               ],
as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through operation
of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month
period beginning [               ] of the years indicated,

 

	Year  	 	Redemption Price For 

Redemption Through Operation

of the Sinking Fund  	 	Redemption Price For Redemption
 Otherwise Than Through Operation
 of the
Sinking Fund  
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

and thereafter] at a Redemption Price
equal to      % of the principal amount, together in the case of any such redemption (whether through
operation of the sinking fund or otherwise) with accrued interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.](2)

 

[If applicable,
insert — Notwithstanding the foregoing, the Company may not, prior to [               ],
redeem any Securities of this series as contemplated by [if applicable, insert — clause (2) of] the preceding paragraph
as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having
an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than [     ]%
per annum.](2)

 

[If applicable,
insert — The sinking fund for this series provides for the redemption on [               ]
in each year beginning with the year [               ]
and ending with the year [               ] of [if
applicable, insert — not less than $[               ]
(“mandatory sinking fund”) and not more than] $[               ]
aggregate principal amount of Securities of this series. Securities of this series acquired or redeemed by the Company otherwise
than through [if applicable, insert — mandatory] sinking fund payments may be credited against subsequent [if applicable,
insert — mandatory] sinking fund payments otherwise required to be made [if applicable, insert — , in the
inverse order in which they become due.]](2)

 

    18

     

    

 

[If the Security
is subject to redemption of any kind, insert — In the event of redemption of this Security in part only, a new Security
or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof
upon the cancellation hereof.](2)

 

[If applicable,
insert — The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or
certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions
set forth in the Indenture.](2)

 

[If the Security
is not an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series
shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and
with the effect provided in the Indenture.](2)

 

[If the Security
is an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series shall
occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture. Such amount shall be equal to — insert formula for determining the amount.
Upon payment (A) of the amount of principal so declared due and payable and (B) of interest on any overdue principal, premium and
interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s
obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall
terminate.](2)

 

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities to be affected under the Indenture at any time by
the Company and the Trustee with the consent of the Holders of a majority in principal amount (including consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Securities) of all Securities at the time Outstanding
to be affected (considered together as one class for this purpose and such Securities to be affected potentially being
Securities of the same or different series and, with respect to any series, potentially comprising fewer than all the
Securities of such series), except as may otherwise be provided pursuant to the Indenture for all or any specific Securities
of any series. The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount (including
waivers obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) of the Securities at
the time Outstanding to be affected under the Indenture (considered together as one class for this purpose and such affected
Securities potentially being Securities of the same or different series and, with respect to any particular series,
potentially comprising fewer than all the Securities of such series), on behalf of the Holders of all Securities so affected,
to waive compliance by the Company with certain provisions of the Indenture and (ii) permitting the Holders of a majority in
principal amount (including waivers obtained in connection with a purchase of, or tender offer or exchange offer for,
Securities) of the Securities at the time Outstanding of any series to be affected under the Indenture (with each such series
considered separately for this purpose), on behalf of the Holders of all Securities of such series, to waive certain past
defaults under the Indenture with respect to such series and their consequences, in the case of Clause (i) or (ii), except as
may otherwise be provided pursuant to the Indenture for all or any specific Securities of any series. Any such consent or
waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this
Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

    19

     

    

 

As provided in and
subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with
respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this
series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
indemnity satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities
of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

 

No reference herein
to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate,
and in the coin or currency, herein prescribed.

 

As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized
in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee or transferees.

 

The Securities of this
series are issuable only in registered form without coupons in minimum denominations of $2,000 and any integral multiple of $1,000
in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

 

No service charge shall
be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

 

Prior to due presentment
of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee shall treat
the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

    20

     

    

 

[If this Security
is a Global Security, insert — This Security is a Global Security and is subject to the provisions of the Indenture relating
to Global Securities, including the limitations therein on transfers and exchanges of Global Securities.]

 

This Security and the
Indenture shall be governed by and construed in accordance with the law of the State of New York.

 

All terms used in this
Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

Section 204          
Form of Legend for Global Securities. Unless otherwise specified as contemplated by Section 301 for the
Securities 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.

 

Section 205          
Form of Trustee’s Certificate of Authentication. The Trustee’s certificates of authentication
shall be in substantially the following form:

 

This is one of the
Securities of the series designated herein and referred to in the within-mentioned Indenture.

 

	Dated:	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 	As Trustee

 

	 	By:	                  
	 	Authorized Signatory

 

Article III

THE SECURITIES

 

Section 301          
Amount Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated
and delivered under this Indenture is unlimited.

 

The Securities may
be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and, subject to Section 303,
set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any series,

 

(1)          
the title of the Securities of the series (which shall distinguish the Securities of the series from Securities of
any other series);

 

    21

     

    

 

(2)           any
limit upon the aggregate principal amount of the Securities of the series which may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu
of, other Securities of the series pursuant to Sections 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant
to Section 303, are deemed never to have been authenticated and delivered hereunder);

 

(3)           the
Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest;

 

(4)           the date or dates on which the principal of any Securities of the series is payable;

 

(5)           the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which
any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date
for any such interest payable on any Interest Payment Date;

 

(6)           the place or places where the principal of and any premium and interest on any Securities of the series shall be
payable and the manner in which any payment may be made;

 

(7)           the
period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series
may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which
any election by the Company to redeem the Securities shall be evidenced;

 

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

 

(9)           if other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, the denominations in
which any Securities of the series shall be issuable;

 

(10)         if the amount of principal of or any premium or interest on any Securities of the series may be determined with reference
to an index or pursuant to a formula, the manner in which such amounts shall be determined;

 

(11)         if
other than the currency of the United States of America, the currency, currencies, composite currency, composite currencies
or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and
the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including
for the purposes of making payment in the currency of the United States of America and applying the definition of
“Outstanding” in Section 101;

 

    22

     

    

 

(12)         if the principal of or any premium or interest on any Securities of the series is to be payable, at the election
of the Company or the Holder thereof, in one or more currencies, composite currencies or currency units other than that or those
in which such Securities are stated to be payable, the currency, currencies, composite currency, composite currencies or currency
units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable,
the periods within which and the terms and conditions upon which such election is to be made and the amount so payable (or the
manner in which such amount shall be determined);

 

(13)         if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the series
which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502;

 

(14)        
if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as
of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities
as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable
upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated
Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined);

 

(15)         if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant
to Section 1302 or Section 1303 or both such Sections, and, if such Securities may be defeased, in whole or in part,
pursuant to either or both such Sections, any provisions to permit a pledge of obligations other than U.S. Government Obligations
(or the establishment of other arrangements) to satisfy the requirements of Section 1304(1) for defeasance of such Securities
and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced;

 

(16)        
if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more
Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends
which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 204, any addition
to, elimination of or other change in the circumstances set forth in Clause (2) of the penultimate paragraph of Section 305
in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global
Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security
or a nominee thereof and any other provisions governing exchanges or transfers of any such Global Security;

 

(17)         any
addition to, elimination of or other change in the Events of Default which applies to any Securities of the series and any
change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due
and payable pursuant to Section 502;

 

    23

     

    

 

(18)         any
addition to, elimination of or other change in the covenants set forth in Article X which applies to Securities of the series;

 

(19)         any
provisions necessary to permit or facilitate the issuance, payment or conversion of any Securities of the series that may be converted
into securities or other property other than Securities of the same series and of like tenor, whether in addition to, or in lieu
of, any payment of principal or other amount and whether at the option of the Company or otherwise;

 

(20)         if applicable, that Persons other than those specified in Section 111 shall have such benefits, rights, remedies
and claims with respect to any Securities of the series or under this Indenture with respect to such Securities, as and to the
extent provided for such Securities;

 

(21)         any
change in the actions permitted or required under this Indenture to be taken by or on behalf of the Holders of the Securities
of the series, including any such change that permits or requires any or all such actions to be taken by or on behalf of the Holders
of any specific Securities of the series rather than or in addition to the Holders of all Securities of the series;

 

(22)         any provisions for subordination of any Securities of the series to other indebtedness of the Company (including
Securities of other series); and

 

(23)         any
other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by
Section 901(5)).

 

All Securities of any
one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to
the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto. All Securities of any one series need
not be issued at the same time and, unless otherwise provided pursuant to this Section 301 for any series, after issuance
of Securities of such series, such series may be reopened for issuances of additional Securities of that series.

 

The terms of any Security
of a series may differ from the terms of other Securities of the same series, if and to the extent provided pursuant to this Section 301.
The matters referenced in any or all of Clauses (1) through (24) above may be established and set forth or determined as aforesaid
with respect to all or any specific Securities of a series (in each case to the extent permitted by the Trust Indenture Act).

 

If any of the terms
of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall
be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery
of the Officers’ Certificate setting forth the terms of the series.

 

    24

     

    

 

Section 302           Denominations.
The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall
be specified as contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities
of any series, the Securities of such series shall be issuable in minimum denominations of $2,000 and any integral multiple of
$1,000 in excess thereof.

 

Section 303          
Execution, Authentication, Delivery and Dating. The Securities shall be executed on behalf of the Company
by its Chairman of the Board, Chief Executive Officer, President or any Vice President of the Company (or any other officer of
the Company designated in writing by or pursuant to authority of the Board of Directors and delivered to the Trustee from time
to time). The signature of any of these officers on the Securities may be manual or facsimile.

 

At any time and from
time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company, to the Trustee for authentication, together with a Company Order, and the Trustee in accordance with the Company Order
shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or
pursuant to one or more Board Resolutions, and accepting the additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon,
an Opinion of Counsel stating,

 

(1)           if the form of such Securities has been established by or pursuant to Board Resolution, as permitted by Section 201,
that such form has been established in conformity with the provisions of this Indenture;

 

(2)           if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 301,
that such terms have been established in conformity with the provisions of this Indenture; and

 

(3)           that when such Securities have been authenticated and delivered by the Trustee and issued by the Company in the manner
and subject to any conditions specified in such Opinion of Counsel, such Securities will constitute valid and legally binding obligations
of the Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles
and subject to any limitation with respect to payments in currency other than U.S. dollars.

 

If such form or terms
have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant
to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner which is not acceptable to the Trustee.

 

Notwithstanding
the provisions of Section 301 and of the preceding paragraph, if all Securities of a series are not to be originally
issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to
Section 301 or the Company Order, and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or
prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication
upon original issuance of the first Security of such series to be issued.

 

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Each Security shall
be dated the date of its authentication.

 

No Security shall be
entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such
certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated
and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but
never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered
hereunder and shall never be entitled to the benefits of this Indenture.

 

Section 304          
Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute,
and upon Company Order, the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in
lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers
executing such Securities may determine, as evidenced by their execution of such Securities.

 

If temporary Securities
of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay.
After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company
in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary
Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or
more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount.
Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture
as definitive Securities of such series and tenor.

 

Section 305           
Registration, Registration of Transfer and Exchange. The Company shall cause to be kept at each office or
agency of the Company designated as a Place of Payment pursuant to the first paragraph of Section 1002 a register (the register,
maintained in each such office or agency of the Company designated as a Place of Payment, being herein sometimes collectively referred
to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall
provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar”
for the purpose of registering Securities and transfers of Securities as herein provided.

 

Upon surrender
for registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for
that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount.

 

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At the option of the
Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and
of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the
Securities, which the Holder making the exchange is entitled to receive.

 

All Securities issued
upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer
or exchange.

 

Every Security presented
or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be duly endorsed,
or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed,
by the Holder thereof or his attorney duly authorized in writing.

 

No service charge shall
be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities,
other than exchanges pursuant to Sections 304, 906 or 1107 not involving any transfer.

 

If the Securities of
any series (or of any series and specified tenor) are to be redeemed in whole or in part, the Company shall not be required (x)
to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case
may be) during a period beginning at the opening of business 15 days before the day of selection of any such Securities for redemption
under Section 1103 and ending at the close of business on the day of such selection (or during such period as otherwise specified
pursuant to Section 301 for such Securities), or (y) to register the transfer of or exchange any Security so selected for
redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part.

 

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 Security 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.

 

The provisions of Clauses
(1), (2), (3) and (4) below shall apply only to Global Securities:

 

(1)           Each
Global Security authenticated under this 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 Security for all purposes of this Indenture.

 

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(2)           Notwithstanding
any other provision in this Indenture, and subject to such applicable provisions, if any, as may be specified as contemplated
by Section 301, no Global Security may be exchanged in whole or in part for Securities 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 (i) is unwilling or unable to continue as Depositary
for such Global Security or (ii) has ceased to be a clearing agency registered under the Exchange Act, or (B) the Company has
executed and delivered to the Trustee a Company Order stating that such Global Security shall be exchanged in whole for Securities
that are not Global Securities (in which case such exchange shall promptly be effected by the Trustee). If the Company receives
a notice of the kind specified in Clause (A) above or has delivered a Company Order of the kind specified in Clause (B) above,
it may, in its sole discretion, designate a successor Depositary for such Global Security within 90 days after receiving such
notice or delivery of such order, as the case may be. If the Company designates a successor Depositary as aforesaid, such Global
Security shall promptly be exchanged in whole for one or more other Global Securities registered in the name of the successor
Depositary, whereupon such designated successor shall be the Depositary for such successor Global Security or Global Securities
and the provisions of Clauses (1), (2), (3) and (4) of this provision shall continue to apply thereto.

 

(3)           Subject
to Clause (2) above and to such applicable provisions, if any, as may be specified as contemplated by Section 301, any exchange
of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global
Security or any portion thereof shall be registered in such names as the Depositary for such Global Security shall direct.

 

(4)           Every
Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or
any portion thereof, whether pursuant to this Section 305, Section 304, 306, 906 or 1107 or otherwise, shall be authenticated
and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other
than the Depositary for such Global Security or a nominee thereof.

 

Every Person who takes
or holds any beneficial interest in a Global Security agrees that:

 

(5)           the
Company and the Trustee may deal with the Depositary as sole owner of the Global Security and as the authorized representative
of such Person;

 

(6)           such Person’s rights in the Global Security shall be exercised only through the Depositary and shall be limited
to those established by law and agreement between such Person and the Depositary and/or direct and indirect participants of the
Depositary;

 

(7)           the
Depositary and its participants make book-entry transfers of beneficial ownership among, and receive and transmit distributions
of principal and interest on the Global Securities to, such Persons in accordance with the Applicable Procedures of the Depositary;
and

 

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(8)           none
of the Company, the Trustee nor any agent of the Company or the Trustee will have any responsibility or liability for any aspect
of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

 

The transferor of any Security shall provide
or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable tax reporting
obligations, including without limitation any cost basis reporting obligations under Section 6045 of the Code. The Trustee may
rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. In connection
with any proposed exchange of a Security that is not a Global Security for a Global Security, the Company or the Depositary shall
be required to provide or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any
applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Section 6045 of the
Code. The Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such
information.

 

Section 306          
Mutilated, Destroyed, Lost and Wrongfully Taken Securities. If (1) any mutilated Security is surrendered to
the Trustee or (2) both (A) there shall be delivered to the Company and the Trustee (i) a claim by a Holder as to the destruction,
loss or wrongful taking of any Security of such Holder and a request thereby for a new replacement Security of the same series,
and (ii) such indemnity bond as may be required by them to save each of them and any agent of either of them harmless and (B) such
other reasonable requirements as may be imposed by the Company as permitted by Section 8-405 of the Uniform Commercial Code have
been satisfied, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a “protected
purchaser” within the meaning of Section 8-405 of the Uniform Commercial Code, the Company shall execute and upon its request
the Trustee shall authenticate and deliver, in lieu of any such mutilated, destroyed, lost or wrongfully taken Security, a new
Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously Outstanding.

 

In case any such mutilated,
destroyed, lost or wrongfully taken Security has become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, pay such Security.

 

Upon the issuance of
any new Security under this Section 306, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith.

 

Every new Security
of any series issued pursuant to this Section 306 in lieu of any destroyed, lost or wrongfully taken Security shall constitute
an original additional contractual obligation of the Company, whether or not the destroyed, lost or wrongfully taken Security shall
be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with
any and all other Securities of that series duly issued hereunder.

 

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The provisions of this
Section 306 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement
or payment of mutilated, destroyed, lost or wrongfully taken Securities.

 

Section 307          
Payment of Interest; Interest Rights Preserved. Except as otherwise provided as contemplated by Section 301
with respect to any Securities of a series, interest on any Security which is payable, and is punctually paid or duly provided
for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date (whether or not a Business Day) for such interest.

 

Any interest on any
Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein
called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date
by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as
provided in Clause (1) or (2) below:

 

(1)           The
Company may elect to make payment of any Defaulted Interest payable on any Securities of a series to the Persons in whose names
such Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date
for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each of such Securities and the date of the proposed payment,
and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be
paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the
date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this Clause provided. Thereupon the Company shall fix a 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 date of the proposed payment and not less than 10
days after the receipt by the Trustee of the notice of the proposed payment. The Company shall promptly notify the Trustee of
such Special Record Date and the Trustee, in the name and at the expense of the Company, shall cause notice of the proposed payment
of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such Securities in the manner set
forth in Section 106, 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 therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose
names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record
Date and shall no longer be payable pursuant to the following Clause (2).

 

(2)           The
Company may make payment of any Defaulted Interest on any Securities of a series in any other lawful manner not inconsistent with
the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by
such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner
of payment shall be deemed practicable by the Trustee.

 

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Except as may otherwise
be provided in this Section 307 or as contemplated in Section 301 with respect to any Securities of a series, the Person
to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall
be the Holder of such Security on the day such interest is paid.

 

Subject to the foregoing
provisions of this Section 307, each Security delivered under this Indenture upon registration of transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by
such other Security.

 

In the case of any
Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than
any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment
Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not punctually
paid or duly provided for) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence,
in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security
shall not be payable.

 

Notwithstanding the
foregoing, the terms of any Security that may be converted may provide that the provisions of the immediately preceding paragraph
do not apply, or apply with such additions, changes or omissions as may be provided thereby, to such Security.

 

Section 308          
Persons Deemed Owners. Prior to due presentment of a Security for registration of transfer, the Company and
the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name such Security is registered as the
owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 307) any
interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company
the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

Section 309          
Cancellation. All Securities surrendered for payment, redemption, registration of transfer or exchange or
conversion or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered
to the Trustee and shall be promptly cancelled by it in accordance with its customary procedures. The Company may at any time deliver
to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired
in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation
any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall
be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled
as provided in this Section 309, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee
shall be disposed of in accordance with the Trustee’s customary procedures.

 

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Section 310           
Computation of Interest. Except as otherwise specified as contemplated by Section 301 for Securities
of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

 

Section 311           
CUSIP Numbers. The Company, in issuing the Securities may use “CUSIP” and “ISIN” numbers
(if then generally in use), and, if so, the Trustee shall use “CUSIP” and “ISIN” numbers in notices of
redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance
may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected
by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in “CUSIP”
or “ISIN” numbers.

 

Article IV

SATISFACTION AND DISCHARGE

 

Section 401            Satisfaction
and Discharge of Indenture. This Indenture shall upon Company Request cease to be of further effect with respect to the Securities
of any series (except as to any surviving rights of the Trustee, and of conversion, registration of transfer or exchange of any
such Security expressly provided for herein or in the terms of such Security), and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to such Securities, when

 

(1)           either

 

(A)          all such Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed,
lost or wrongfully taken and which have been replaced or paid as provided in Section 306 and (ii) Securities for the
payment of which money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid
to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation;
or

 

(B)           all
such Securities not theretofore delivered to the Trustee for cancellation

 

		(i)	have become due and payable, or

 

		(ii)	will become due and payable at their Stated Maturity within one year, or

 

		(iii)	are to be called for redemption within one year under arrangements satisfactory to the Trustee
for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company,

 

and the Company in the case
of (i), (ii) or (iii) above, has irrevocably deposited or caused to be irrevocably deposited with the Trustee as trust funds
in trust for such purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not
theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit
(in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may
be;

 

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(2)           the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to such Securities;

 

(3)           no event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such
Securities or any other Securities (other than such an event or Event of Default with respect to such Securities resulting solely
from the incurrence of indebtedness or other borrowing of funds, or the grant of liens securing such indebtedness or other borrowing,
all or a portion of which are to be applied to such deposit) shall have occurred and be continuing at the time of such deposit;

 

(4)           such
deposit shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which
the Company is a party or by which it is bound; and

 

(5)           the
Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such Securities have
been complied with.

 

Notwithstanding the
satisfaction and discharge of this Indenture with respect to Securities of any series, the obligations of the Company to the Trustee
under Section 607, the obligations of the Company to any Authenticating Agent under Section 614, and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section 401 with respect to such Securities,
the obligations of the Company of such series under Section 1002 and the obligations of the Trustee under Section 402,
Section 606 and the last paragraph of Section 1003 with respect to such Securities shall survive such satisfaction and
discharge.

 

Section 402           Application
of Trust Money. Subject to the provisions of the last paragraph of Section 1003, all money deposited with the
Trustee pursuant to Section 401 with respect to Securities of any series shall be held in trust and applied by it, in
accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto,
of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. All moneys
deposited with the Trustee pursuant to Section 401 (and held by it or any Paying Agent) for the payment of Securities
subsequently converted shall be returned to the Company upon Company Request, to the extent originally deposited by the
Company. The Company may direct by a Company Order the investment of any money deposited with the Trustee pursuant to
Section 401, without distinction between principal and income, in (1) United States Treasury Securities with a maturity
of one year or less or (2) a money market fund that invests solely in short term United States Treasury Securities and from
time to time the Company may direct the reinvestment of all or a portion of such money in other securities or funds meeting
the criteria specified in Clause (1) or (2) of this sentence.

 

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Article V

REMEDIES

 

Section 501           
Events of Default.

 

Except as may otherwise
be provided pursuant to Section 301 for all or any specific Securities of any series, “Event of Default,” wherever
used herein with respect to the Securities of that series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental body):

 

(1)           default
in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default
for a period of 30 days; or

 

(2)           default in the payment of the principal of or any premium on any Security of that series at its Maturity; or

 

(3)           default
in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series and continuance of such
default for a period of 60 days; or

 

(4)           default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty
a default in whose performance or whose breach is elsewhere in this Section 501 specifically dealt with or which has expressly
been included in this Indenture solely for the benefit of series of Securities other than that series), and continuance of such
default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee
or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series
a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or

 

(5)           the
entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an
involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar
law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal
or State law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of
the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of
90 consecutive days (provided that, if any Person becomes the successor to the Company pursuant to Article VIII
and such Person is a corporation, partnership or trust organized and validly existing under the law of a jurisdiction outside
the United States, each reference in this Clause (5) to an applicable Federal or State law of a particular kind shall be
deemed to refer to such law or any applicable comparable law of such non-U.S. jurisdiction, for as long as such Person is the
successor to the Company hereunder and is so organized and existing); or

 

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(6)              
the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy,
insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or
the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under
any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy
or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief
under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking
possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of
any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it
in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in
furtherance of any such action (provided that, if any Person becomes the successor to the Company pursuant to Article VIII
and such Person is a corporation, limited liability company, partnership, trust or other entity organized and validly existing
under the law of a jurisdiction outside the United States, each reference in this Clause (6) to an applicable Federal or State
law of a particular kind shall be deemed to refer to such law or any applicable comparable law of such non-U.S. jurisdiction, for
as long as such Person is the successor to the Company hereunder and is so organized and existing); or

 

(7)              
any other Event of Default provided with respect to Securities of that series in accordance with Section 301.

 

Section 502          Acceleration
of Maturity; Rescission and Annulment. Except as may otherwise be provided pursuant to Section 301 for all or any
specific Securities of any series, if an Event of Default (other than an Event of Default specified in Section 501(5) or
Section 501(6)) with respect to Securities of that series at the time Outstanding occurs and is continuing, then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that
series may declare the principal amount of all the Securities of that series (or, in the case of any Security of that series
which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be
specified by the terms thereof) to be due and payable immediately, by a notice in writing to the Company (and to the Trustee
if given by Holders), and upon any such declaration such principal amount (or specified amount), together with any accrued
and unpaid interest thereon, shall become immediately due and payable. Except as may otherwise be provided pursuant to
Section 301 for all or any specific Securities of any series, if an Event of Default specified in Section 501(5) or
Section 501(6) with respect to Securities of that series at the time Outstanding occurs, the principal amount of all the
Securities of that series (or, in the case of any Security of that series which specifies an amount to be due and payable
thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof), together with any
accrued and unpaid interest thereon, shall automatically, and without any declaration or other action on the part of the
Trustee or any Holder, become immediately due and payable.

 

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Except as may otherwise
be provided pursuant to Section 301 for all or any specific Securities of any series, at any time after such a declaration
of acceleration with respect to Securities of that series has been made and before a judgment or decree for payment of the money
due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of
the Outstanding Securities of that series, by written notice to the Company, and the Trustee, may rescind and annul such declaration
and its consequences if

 

(1)              
the Company has paid or deposited with the Trustee a sum sufficient to pay

 

(A)            
all overdue interest on all Securities of that series,

 

(B)            
the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by
such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,

 

(C)             
to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed
therefor in such Securities, and

 

(D)            
all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel; and

 

(2)              
all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities
of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513.

 

No such rescission
shall affect any subsequent default or impair any right consequent thereon.

 

Section 503         
Collection of Indebtedness and Suits for Enforcement by Trustee. The Company covenants that if

 

(1)              
default is made in the payment of any interest on any Security when such interest becomes due and payable and such
default continues for a period of 60 days, or

 

(2)              
default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof,

 

the Company will, upon demand of the Trustee,
pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal
and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue
principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition
thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

 

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If an Event of Default
with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in
this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

 

Section 504         
Trustee May File Proofs of Claim. In case of any judicial proceeding relative to the Company or any other
obligor upon the Securities, their property or their creditors, the Trustee shall be entitled and empowered, by intervention in
such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the
Holders and the Trustee allowed in any such proceeding. The Trustee shall be authorized to collect and receive any moneys or other
property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make
such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel, and any other amounts due the Trustee under Section 607. To the extent that the payment of any such compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section
607 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a line on,
and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be
entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.

 

No provision of this
Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan
of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize
the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee
may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’
or other similar committee.

 

Section 505         
Trustee May Enforce Claims Without Possession of Securities. All rights of action and claims under this Indenture
or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production
thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities
in respect of which such judgment has been recovered.

 

Section 506         
Application of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied
in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of
principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially
paid and upon surrender thereof if fully paid:

 

FIRST: To the payment
of all amounts due the Trustee, its agents and attorneys hereunder;

 

SECOND: To the payment
of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due
and payable on such Securities for principal and any premium and interest, respectively; and

 

THIRD: To the payment
of the remainder, if any, to the Company, or to whomsoever may be lawfully entitled to receive the same as a court of competent
jurisdiction may direct.

 

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Section 507         
Limitation on Suits. No Holder of any Security of any series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless

 

(1)              
such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the
Securities of that series;

 

(2)              
the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(3)              
such Holder or Holders have offered to the Trustee indemnity satisfactory to it against the costs, losses, expenses
and liabilities to be incurred in compliance with such request;

 

(4)              
the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute
any such proceeding; and

 

(5)              
no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the
Holders of a majority in principal amount of the Outstanding Securities of that series;

 

it being understood and intended that no
one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and
for the equal and ratable benefit of all of such Holders (it being understood that the Trustee does not have an affirmative duty
to ascertain or determine whether any action or inaction disturbs or prejudices the rights of any Holder or seeks to obtain priority
or preference over any Holder).

 

Section 508          Unconditional
Right of Holders to Receive Principal, Premium and Interest and to Convert. Notwithstanding any other provision in this
Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the
principal of and any premium and (subject to Section 307) interest on such Security on the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on the Redemption Date), and, if the terms of such Security so
provide, to convert such Security in accordance with its terms, and to institute suit for the enforcement of any such payment
and, if applicable, any such right to convert, and such rights shall not be impaired without the consent of such Holder.

 

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Section 509         
Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce
any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined
adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company,
the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all
rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

 

Section 510         
Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of
mutilated, destroyed, lost or wrongfully taken Securities in the last paragraph of Section 306, no right or remedy herein
conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 511         
Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Securities to exercise
any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such
Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders
may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may
be.

 

Section 512         
Control by Holders. The Holders of a majority in principal amount of the Outstanding Securities of any series
shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that

 

(1)              
such direction shall not be in conflict with any rule of law or with this Indenture;

 

(2)              
the Trustee may require indemnity satisfactory to it being furnished prior to taking such action;

 

(3)              
the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction;
and

 

(4)              
subject to the provisions of Section 601, the Trustee shall have the right to decline to follow any such direction
if the Trustee shall determine that the proceeding so directed would involve the Trustee in personal liability.

 

Section 513          Waiver
of Past Defaults. Except as may otherwise be provided pursuant to Section 301 for all or any specific Securities of
any series, the Holders of not less than a majority in principal amount (including waivers obtained in connection with a
purchase of, or tender offer or exchange offer for, Securities) of the Outstanding Securities of any series to be affected
under this Indenture may on behalf of the Holders of all the Securities of such series waive any past default hereunder with
respect to such series and its consequences, except a default

 

(1)              
in the payment of the principal of or any premium or interest on any Security of such series, or

 

(2)              
in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the
consent of the Holder of each Outstanding Security of such series affected.

 

Upon any such waiver
with respect to any series, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have
been cured, with respect to such series for every purpose of this Indenture; but no such waiver shall extend to any subsequent
or other default or impair any right consequent thereon. A waiver of any past default and its consequences given by or on behalf
of any Holder of Securities in connection with a purchase of, or tender or exchange offer for, such Holder’s Securities will
not be rendered invalid by such purchase, tender or exchange.

 

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Section 514         
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, suffered or omitted by it as Trustee, a court may require any party litigant
in such suit to file an undertaking to pay the costs of such suit, and may assess costs, including reasonable attorneys’
fees and expenses, against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided
that neither this Section 514 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking
or to make such an assessment in any suit instituted by the Trustee, or by any Holder, or group of Holders, holding in the aggregate
more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder
for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security on or after the Stated
Maturity or Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date) or, if applicable,
in any suit for the enforcement of the right to convert any Security in accordance with its terms.

 

Section 515         
Waiver of Usury, Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any
usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance
of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage
of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted.

 

Article VI

THE TRUSTEE

 

Section 601         
Certain Duties and Responsibilities.

 

(1)              
Except during the continuance of an Event of Default,

 

(A)            
the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 

(B)             
in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically
required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or
other facts stated therein).

 

(2)              
In case an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise
or use under the circumstances in the conduct of such person’s own affairs.

 

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(3)              
No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action,
its own negligent failure to act, or its own willful misconduct, except that

 

(A)        this Subsection shall not be construed to limit the effect of the first paragraph of this Section 601;

 

(B)        the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it
shall be proved that the Trustee was negligent in ascertaining the pertinent facts;

 

(C)        the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the Holders of a majority in principal amount of the Outstanding Securities of any series, determined as
provided in Section 512, relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such
series; and

 

(D)        no
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers.

 

(4)              
 Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting
the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 601.

 

(5)              
No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability.
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 or indemnity satisfactory to
it against the costs, expenses, losses and liabilities that might be incurred by it in compliance with such request or direction.

 

Section 602         
Notice of Defaults. If a default or Event of Default occurs and is continuing hereunder with respect to Securities
of any series, and if it is known to the Trustee as provided in Section 603(10), the Trustee shall send to the Holders of Securities
of such series notice of such default or Event of default within 90 days after the Trustee gains knowledge of the default or Event
of Default unless such default or Event of Default shall have been cured or waived before the giving of such notice. Except in
the case of a default or Event of Default in payment of principal of, premium or interest on Securities of any series, the Trustee
may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the
notice is in the interests of the Holders of the Securities of such series. For the purpose of this Section 602 and Section 1005,
the term “default” means, with respect to Securities of any series, any event which is, or after notice or lapse of
time or both would become, an Event of Default with respect to Securities of such series.

 

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Section 603         
Certain Rights of Trustee. Subject to the provisions of Section 601:

 

(1)         the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence
of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party
or parties;

 

(2)         any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or
Company Order and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution;

 

(3)        before the Trustee acts or refrains from acting, it may require an Officers’ Certificate and/or an Opinion
of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on an Officers’
Certificate or Opinion of Counsel;

 

(4)          the Trustee may consult with counsel of its selection and the written or verbal advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted
by it hereunder in good faith and in reliance thereon;

 

(5)          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 pursuant to this Indenture, unless such Holders shall have offered to the Trustee
security or indemnity satisfactory to it against the costs, losses, expenses and liabilities which might be incurred by it in compliance
with such request or direction;

 

(6)         the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and
shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

 

(7)          the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or
by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any
agent or attorney appointed with due care by it hereunder and shall not be responsible for the supervision of officers and employees
of such agents or attorneys;

 

(8)          the Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate
may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized
in any such certificate previously delivered and not superseded;

 

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(9)          the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture;

 

(10)        the Trustee shall not be deemed to have notice of any default or Event of Default unless a Responsible Officer of
the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the
Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture;

 

(11)        the rights, privileges, protections, immunities and benefits given to the Trustee, including its rights to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and
other Person employed to act hereunder;

 

(12)        in no event shall the Trustee be responsible or liable for any special, indirect, punitive 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;

 

(13)        the Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties
hereunder;

 

(14)        the right of the Trustee to perform any discretionary act enumerated in this Indenture shall not be construed as
a duty; and

 

(15)        under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the
Securities.

 

Section 604         
Not Responsible for Recitals or Issuance of Securities. The recitals contained herein and in the Securities
and in any offering memorandum, prospectus or prospectus supplement of the Company prepared from time to time with respect to the
offer and sale of Securities of any series, except the Trustee’s certificates of authentication, shall be taken as the statements
of the Company, and the Trustee does not assume any responsibility for their correctness. The Trustee makes no representations
as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application
by the Company of Securities or the proceeds thereof. The Trustee shall not be bound to ascertain or inquire as to the performance,
observance, or breach of any covenants, conditions, representations, warranties or agreements on the part of the Company or any
Guarantors. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the
Securities. The Trustee shall have no obligation to pursue any action that is not in accordance with applicable law. The Trustee
shall have no obligation to independently determine or verify if any event has occurred or notify the Holders of any event dependent
upon the rating of the Securities, or if the rating on the Securities has been changed, suspended or withdrawn by any ratings agency.

 

Section 605         
May Hold Securities. The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any
other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject
to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating
Agent, Paying Agent, Security Registrar or such other agent.

 

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Section 606         
Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds
and need not be held in an interest-bearing account, in each case, except to the extent required by law or by any other provision
of this Indenture. The Trustee (acting in any capacity hereunder) shall be under no liability for interest on any money received
by it hereunder except as otherwise agreed in writing with the Company.

 

Section 607         
Compensation and Reimbursement.

 

(1)               The
Company shall pay to the Trustee (in each of its capacities hereunder) from time to time reasonable compensation for its
acceptance of this Indenture and services hereunder in accordance with a written schedule provided by the Trustee to the
Company. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust.
The Company shall reimburse the Trustee promptly upon request for all reasonable and customary disbursements, advances and
reasonable out-of-pocket expenses incurred or made by it in addition to the compensation for its services, except those
resulting from its own negligence or willful misconduct as adjudicated by a court of competent jurisdiction in a final,
non-appealable decision. Such expenses shall include the reasonable and customary compensation, disbursements and expenses of
the Trustee’s agents and counsel.

 

(2)              
The Company shall indemnify, defend and protect the Trustee (in any capacity under this Indenture or any other document
or transaction entered into in connection with this Indenture) and its officers, directors, agents and employees, and hold the
Trustee harmless against any and all losses, liabilities, claims, damages or expenses (including taxes (other than taxes based
upon, or measured by or determined by the income of the Trustee), reasonable attorney’s fees and expenses and court costs)
incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including
the costs and expenses of enforcing this Indenture against the Company (including this Section 607 and reasonable attorneys’
fee and expenses and court costs) and defending itself against any claim (whether asserted by either of the Company or any Holder
or any other person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except
to the extent any such loss, liability or expense that is the result of its negligence or willful misconduct as adjudicated by
a court of competent jurisdiction in a final, non-appealable decision. The Trustee shall notify the Company promptly of any claim
for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations
hereunder. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may elect to have separate
counsel defend the claim. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably
withheld. As security for the performance of the obligations of the Company under this Section 607 the Trustee shall have
a lien prior to the Securities of any series upon all property and funds held or collected by the Trustee as such, except funds
held in trust for the payment of principal of (and premium, if any) or interest on Securities of such series. Such lien shall survive
satisfaction and discharge of this Indenture.

 

(3)              
Without limiting any rights available to the Trustee under applicable law, when the Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 501(5) or Section 501(6), the expenses (including
the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of
administration under any applicable Federal or State bankruptcy, insolvency or other similar law.

 

(4)              
The provisions of this Section 607 shall survive the termination of this Indenture and the satisfaction and
discharge of this Indenture or the earlier resignation or removal of the Trustee.

 

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Section 608         
Conflicting Interests. If the Trustee has or shall acquire a conflicting interest within the meaning of the
Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and
subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the
Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture with respect to Securities
of more than one series.

 

Section 609         
Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder
with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each
Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus
of at least $50,000,000 and has its Corporate Trust Office in the continental United States of America. If any such Person publishes
reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then
for the purposes of this Section 609 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus
of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions
of this Section 609, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

 

Section 610         
Resignation and Removal; Appointment of Successor. No resignation or removal of the Trustee and no appointment
of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee
in accordance with the applicable requirements of Section 611.

 

The Trustee may resign
at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument
of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

The Trustee may be
removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series, by 30 days’ written notice delivered to the Trustee and to the Company. If the instrument
of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after
the giving of a notice of removal pursuant to this paragraph, the Trustee being removed may petition, at the expense of the Company,
any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

If at any time:

 

(1)          the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder
who has been a bona fide Holder of a Security for at least six months, or

 

(2)          the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor
by the Company or by any such Holder, or

 

(3)          the
Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (A) the Company by a Board Resolution
may remove the Trustee with respect to all Securities, or (B) subject to Section 514, any Holder who has been a bona
fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a
successor Trustee or Trustees.

 

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If the Trustee shall
resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect
to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with
respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect
to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If an instrument
of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice
of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such series. If, within one year after such resignation, removal
or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed
by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and
the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance
with the applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series
and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities
of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611,
any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all
others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect
to the Securities of such series.

 

The Company shall give
notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of
a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided
in Section 106. Each notice shall include the name of the successor Trustee with respect to the Securities of such series
and the address of its Corporate Trust Office.

 

Section 611          Acceptance
of Appointment by Successor. In case of the appointment hereunder of a successor Trustee with respect to all Securities,
such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become
effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring
Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the
rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such retiring Trustee hereunder. In case of the appointment hereunder of a successor Trustee with
respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each
successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or
desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee
relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall
be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be
vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each
such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee
relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates.

 

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Upon request of any
such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming
to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case
may be.

 

No successor Trustee
shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under
this Article.

 

Section 612         
Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the Trustee may be
merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation
to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of
the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible
under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion
or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with
the same effect as if such successor Trustee had itself authenticated such Securities.

 

Section 613          Preferential
Collection of Claims Against Company. If and when the Trustee shall be or become a creditor of the Company (or any other
obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the
collection of claims against the Company (or any such other obligor).

 

Section 614         
Appointment of Authenticating Agent. The Trustee may appoint an Authenticating Agent or Agents with respect
to any series of Securities which shall be authorized to act on behalf of the Trustee to authenticate the Securities of such Series
issued upon original issue and upon exchange, registration of transfer, partial conversion or partial redemption or pursuant to
Section 306, and Securities of such series so authenticated shall be entitled to the benefits of this Indenture and shall
be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture
to the authentication and delivery of Securities of such series by the Trustee or the Trustee’s certificate of authentication,
such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent so appointed
with respect to such series and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent so
appointed with respect to such series. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a
corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and
subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition
at least annually pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this
Section 614, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to
be eligible in accordance with the provisions of this Section 614, such Authenticating Agent shall resign immediately in the
manner and with the effect specified in this Section 614.

 

Any corporation into
which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided
such corporation shall be otherwise eligible under this Section 614, without the execution or filing of any paper or any further
act on the part of the Trustee, the Company, the Authenticating Agent or such successor corporation.

 

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An Authenticating Agent
may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate
the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving
such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section 614, the Trustee may appoint a successor Authenticating Agent with respect
to any series of Securities which shall be acceptable to the Company and shall give notice of such appointment to all Holders of
Securities of such series in the manner provided in Section 106. Any successor Authenticating Agent upon acceptance of its
appointment hereunder shall become vested with all rights, powers and duties of its predecessor hereunder, with like effect as
if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section 614.

 

The Company agrees
to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 614.

 

If an appointment is
made pursuant to this Section 614 with respect to Securities of any series, the Securities of such series may have endorsed
thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following
form:

 

This is one of the
Securities of the series designated herein and referred to in the within-mentioned Indenture.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, 

As Trustee
	 	 
	 	By	[NAME OF AUTHENTICATING AGENT],
	 	 	As Authenticating Agent
	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Article VII

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 701         
Company to Furnish Trustee Names and Addresses of Holders. The Company will furnish or cause to be furnished
to the Trustee

 

(1)              
semi-annually, not later than on each Record Date in each year, a list, in such form as the Trustee may reasonably
require, of the names and addresses of the Holders of Securities of each series as of such Record Date, and

 

(2)              
at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company, of any
such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished;

 

excluding from any such list names and
addresses received by the Trustee in its capacity as Security Registrar.

 

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Section 702         
Preservation of Information; Communications to Holders. The Trustee shall preserve, in as current a form as
is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided
in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee
may destroy any list furnished to it as provided in Section 701 upon receipt of a new list so furnished.

 

The rights of Holders
to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding
rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act.

 

Every Holder of Securities,
by receiving and holding the same, agrees with the Company and the Trustee that neither of the Company nor the Trustee nor any
agent of any of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders
made pursuant to the Trust Indenture Act.

 

Section 703         
Reports by Trustee. The Trustee shall transmit to Holders such reports concerning the Trustee and its actions
under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto.

 

Reports so required
to be transmitted at stated intervals of not more than 12 months shall be transmitted no later than [               ]
and shall be dated as of [               ] in
each calendar year, commencing in 20[   ].

 

A copy of each such
report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities
are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any
stock exchange and of any delisting thereof.

 

Section 704         
Reports by Company. The Company shall file with the Trustee and the Commission, and transmit to Holders, such
information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act, if
any, at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports
required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act need not be filed with the Trustee
until the 15th day after the same are actually filed with the Commission. 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 actual or constructive
notice of any information contained therein or determinable from information contained therein, including the compliance by the
Company with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).
The Company will be deemed to have furnished each report required above to the Trustee and the Holders of the Securities if it
has filed such report with the SEC using the EDGAR filing system or if such report is otherwise publicly available. The Trustee
shall have no obligation to determine whether or not such reports have been filed on the EDGAR filing system.

 

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Article VIII

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

 

Section 801         
Company May Consolidate, Etc., Only on Certain Terms. The Company shall not, in a single transaction or a
series of related transactions, consolidate with or merge into any other Person or sell, convey, transfer or lease all or substantially
all its properties and assets to any Person, and the Company shall not permit any Person to consolidate with or merge into the
Company, unless:

 

(1)               in
case the Company shall consolidate with or merge into another Person or sell, convey, transfer or lease all or substantially
all its properties and assets to any Person, the Person formed by such consolidation or into which the Company is merged or
the Person which acquires by sale, conveyance or transfer, or which leases, all or substantially all the properties and
assets of the Company shall be a corporation, limited liability company, partnership or trust, shall be organized and validly
existing under the laws of the United States, any state thereof or the District of Columbia and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, the due
and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance
of every covenant of this Indenture on the part of the Company to be performed or observed and, for each Security that by its
terms provides for conversion, shall have provided for the right to convert such Security in accordance with its terms;

 

(2)              
immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of
the Company or any Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the
time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event
of Default, shall have happened and be continuing; and

 

(3)              
the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection with
such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating
to such transaction have been complied with.

 

Section 802         
Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into, any other
Person or any sale, conveyance, transfer or lease of all or substantially all the properties and assets of the Company in accordance
with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such sale,
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the
Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter,
except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and
the Securities.

 

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Article IX

SUPPLEMENTAL INDENTURES

 

Section 901         
Supplemental Indentures Without Consent of Holders. Except as may otherwise be provided pursuant to Section 301
for all or any specific Securities of any series, without the consent of any Holders, the Company, when authorized by a Board Resolution,
and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory
to the Trustee, for any of the following purposes:

 

(1)       to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants
of the Company herein and in the Securities, as the case may be; or

 

(2)      to
add to the covenants of the Company for the benefit of the Holders of all or any Securities of any series (and if such
covenants are to be for the benefit of less than all Securities of such series, stating that such covenants are expressly
being included solely for the benefit of such Securities within such series) or to surrender any right or power herein
conferred upon the Company with regard to all or any Securities of any series (and if any such surrender is to be made with
regard to less than all Securities of such series, stating that such surrender is expressly being made solely with regard to
such Securities within such series); or

 

(3)       to add any additional Events of Default for the benefit of the Holders of all or any Securities of any series (and
if such additional Events of Default are to be for the benefit of less than all Securities of such series, stating that such additional
Events of Default are expressly being included solely for the benefit of such Securities within such series); or

 

(4)       to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate
the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons,
or to permit or facilitate the issuance of Securities in uncertificated form; or

 

(5)        to add to, change or eliminate any of the provisions of this Indenture in respect of all or any Securities of any
series (and if such addition, change or elimination is to apply with respect to less than all Securities of such series, stating
that it is expressly being made to apply solely with respect to such Securities within such series), provided that any such
addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such
supplemental indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security
with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or

 

(6)          to secure the Securities; or

 

(7)          to establish the form or terms of all or any Securities of any series as permitted by Sections 201 and 301;
or

 

(8)          to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities
of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611; or

 

(9)          to add to or change any of the provisions of this Indenture with respect to any Securities that by their terms may
be converted into securities or other property other than Securities of the same series and of like tenor, in order to permit or
facilitate the issuance, payment or conversion of such Securities; or

 

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(10)        to
conform the text of this Indenture or any Securities to any provision of the “Description of the Notes” (or
comparable) section in any offering memorandum, prospectus or prospectus supplement of the Company prepared from time to time
after the date of this Indenture with respect to the offer and sale of Securities of any series, to the extent that such
provision was intended to be a verbatim recitation of a provision of this Indenture, the Securities; which intention shall be
established by an Officers’ Certificate; or

 

(11)        to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with
any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture,
provided that such action pursuant to this Clause (12) shall not adversely affect the interests of the Holders of Securities
of any series in any material respect.

 

The Trustee is hereby
authorized to join with the Company in the execution of any such supplemental indenture, to make any further appropriate agreements
and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property
thereunder, but the Trustee shall not be obligated to enter into any such supplemental indenture which affects the Trustee’s
own rights, duties or immunities under this Indenture or otherwise.

 

Section 902         
Supplemental Indentures With Consent of Holders. Except as may otherwise be provided pursuant to Section 301
for all or any specific Securities of any series, with the consent of the Holders of a majority in principal amount (including
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities) of the Outstanding Securities
of all series affected by such supplemental indenture (considered together as one class for this purpose and such affected Securities
potentially being Securities of the same or different series and, with respect to any series, potentially comprising fewer than
all the Securities of such series), by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized
by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner
the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby (including consents obtained in
connection with a purchase of, or tender offer or exchange offer for, Securities),

 

(1)              
change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security,
or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce
the amount of the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502, or permit the Company to redeem any Security
if, absent such supplemental indenture, the Company would not be permitted to do so, or change any Place of Payment where, or the
coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for
the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption
Date), or

 

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(2)              
 if any Security provides that the Holder may require the Company to repurchase or convert such Security, impair
such Holder’s right to require repurchase or conversion of such Security on the terms provided therein, or

 

(3)              
reduce the percentage in principal amount of the Outstanding Securities of any one or more series (considered separately
or together as one class, as applicable, and whether comprising the same or different series or less than all the Securities of
a series), the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required
for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided
for in this Indenture, or

 

(4)              
modify any of the provisions of this Section 902, Section 513 or Section 1006, except to increase
any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent
of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed
to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes
in this Section 902 and Section 1006, or the deletion of this proviso, in accordance with the requirements of Sections 611
and 901(8).

 

A supplemental indenture
which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the
benefit of one or more particular Securities or series of Securities, or which modifies the rights of the Holders of such Securities
or series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the
Holders of any other Securities or of any other series, as applicable.

 

It shall not be necessary
for any Act of Holders under this Section 902 to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such Act shall approve the substance thereof. A consent to any indenture supplemental hereto by or on behalf
of any Holder of Securities given in connection with a purchase of, or tender or exchange offer for, such Holder’s Securities
will not be rendered invalid by such purchase, tender or exchange.

 

Section 903         
Execution of Supplemental Indentures. In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel and Officers’
Certificate stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and constitutes
the legal, valid and binding obligation of the Company enforceable against it in accordance with its terms. The Trustee may, but
shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise.

 

Section 904         
Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this
Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all
purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 

Section 905         
Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall
conform to the requirements of the Trust Indenture Act.

 

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Section 906         
Reference in Securities to Supplemental Indentures. Securities of any series authenticated and delivered after
the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation
in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental
indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series.

 

Article X

COVENANTS

 

Section 1001     
Payment of Principal, Premium and Interest. The Company covenants and agrees for the benefit of each series
of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series
in accordance with the terms of the Securities and this Indenture. With respect to physical Securities, if any, presentation is
due at maturity.

 

Section 1002     
Maintenance of Office or Agency. The Company will maintain in each Place of Payment for any series of Securities
an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series
may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion and where notices
and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The Company will
give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any
time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.

 

The Company may also
from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or
surrendered for any or all such purposes and may from time to time rescind such designations; provided, however,
that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency
in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee
of any such designation or rescission and of any change in the location of any such other office or agency.

 

With respect to
any Global Security, and except as otherwise may be specified for such Global Security as contemplated by Section 301,
the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or
surrendered for payment or for registration of transfer or exchange, or where successor Securities may be delivered in
exchange therefor, provided, however, that any such payment, presentation, surrender or delivery effected
pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have been effected at the
Place of Payment for such Global Security in accordance with the provisions of this Indenture.

 

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Section 1003     
Money for Securities Payments to Be Held in Trust. If the Company shall at any time act as its own Paying
Agent with respect to any series of Securities, it will, on or before each due date of the principal of or any premium or interest
on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient
to pay the principal and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed
of as herein provided and will promptly notify the Trustee of its action or failure so to act.

 

Whenever the Company
shall have one or more Paying Agents for any series of Securities, it will, on or prior to 11:00 A.M., New York City time, on each
due date of the principal of or any premium or interest on any Securities of that series, deposit (or, if the Company has deposited
any trust funds with a trustee pursuant to Section 1304(1), cause such trustee to deposit) with a Paying Agent a sum sufficient
to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of its action or failure so to act.

 

The Company will cause
each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which
such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 1003, that such Paying Agent will
(1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance
of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect
of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust
by such Paying Agent for payment in respect of the Securities of that series.

 

The Company may at
any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company
Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be
held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon
such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to
such money.

 

Subject to applicable
escheat or abandoned property laws, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust
for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years
after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then
held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general
creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such
trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

 

Section 1004      Corporate
Existence. Subject to Article VIII, the Company will do or cause to be done all things necessary to preserve and
keep in full force and effect its corporate existence, rights (charter and statutory), licenses and franchises; provided, however,
that the Company will not be required to preserve any such right, license or franchise if it shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company.

 

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Section 1005     
Statement by Officers as to Default. The Company shall deliver to the Trustee, within 120 days after the end
of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate, stating that a review of the activities
of the Company during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining
whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture with respect to the Securities
of each series Outstanding and further stating, as to each such Officer signing such certificate, that to the best of such Officer’s
actual knowledge, the Company has kept, observed, performed and fulfilled its obligations under this Indenture with respect to
Securities of such series and is not in default in the performance and observance of any of the material terms, provisions and
conditions of this Indenture with respect to Securities of such series, in each case, so as not to result in any default or Event
of Default with respect to Securities of such series (or, if a default or Event of Default with respect to Securities of such series
shall have occurred and be continuing, describing all such defaults or Events of Default of which such Officer may have knowledge
and what action the Company is taking or propose to take with respect thereto).

 

Section 1006     
Waiver of Certain Covenants. Except as otherwise provided pursuant to Section 301 for all or any Securities
of any series, the Company may, with respect to all or any Securities of any series, omit in any particular instance to comply
with any term, provision or condition set forth in Section 1004 or in any covenant provided pursuant to Sections 301(18),
901(2), 901(6) or 901(7) for the benefit of the Holders of such series or in Article VIII if, before the time for such compliance,
the Holders of a majority in principal amount (including waivers obtained in connection with a purchase of, or tender offer or
exchange offer for, Securities) of all Outstanding Securities affected by such waiver (considered together as one class for this
purpose and such affected Securities potentially being Securities of the same or different series and, with respect to any particular
series, potentially comprising fewer than all the Securities of such series) shall, by Act of such Holders, either waive such compliance
in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect
such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full
force and effect. A waiver of compliance given by or on behalf of any Holder of Securities in connection with a purchase of, or
tender or exchange offer for, such Holder’s Securities will not be rendered invalid by such purchase, tender or exchange.

 

Article XI

REDEMPTION OF SECURITIES

 

Section 1101     
Applicability of Article. Securities of any series which are redeemable before their Stated Maturity shall
be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for such Securities)
in accordance with this Article.

 

Section 1102     
Election to Redeem; Notice to Trustee. The election of the Company to redeem any Securities shall be established
in or pursuant to a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities. In
case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption
affecting only a single Security), the Company shall, at least 5 Business Days prior to the date the notice of redemption is sent
to Holders (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the
principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed.
In the case of any redemption of Securities (1) prior to the expiration of any restriction on such redemption provided in the
terms of such Securities or elsewhere in this Indenture, or (2) pursuant to an election of the Company that is subject to a condition
specified in the terms of the Securities of the series to be redeemed, the Company shall furnish the Trustee with an Officers’
Certificate evidencing compliance with such restriction or condition. Redemptions may be conditioned upon the occurrence of conditions
precedent with respect to the redemption.

 

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Any redemption notice
may, at the Company’s discretion, be subject to one or more conditions precedent, including completion of a corporate transaction.
In such event, the related notice of redemption shall describe each such condition and, if applicable, shall state that, at the
Company’s discretion, the Redemption Date may be delayed until such time (including more than 60 days after the date the
notice of redemption was mailed or delivered, including by electronic transmission) as any or all such conditions shall be satisfied
(or waived by the Company in its sole discretion), or such redemption may not occur and such notice may be rescinded in the event
that any or all such conditions shall not have been satisfied or waived by the Redemption Date, or by the Redemption Date as so
delayed. The Company shall provide written notice to the Trustee prior to the close of business two Business Days prior to the
Redemption Date if any such redemption has been rescinded or delayed, and upon receipt the Trustee shall provide such notice to
each Holder of the Securities in the same manner in which the notice of redemption was given.

 

Section 1103     
Selection by Trustee of Securities to Be Redeemed. If less than all the Securities of any series are to be
redeemed (unless all the Securities of such series and of a specified tenor are to be redeemed or unless such redemption affects
only a single Security), the particular Securities to be redeemed shall be selected by the Trustee, from the Outstanding Securities
of such series not previously called for redemption, pro rata (and when the Securities are in the form of Global Securities,
the Trustee shall select such Securities in accordance with the Applicable Procedures of the Depositary), and which may provide
for the selection for redemption of a portion of the principal amount of any Security of such series, provided that the
unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than
the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor
are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected
by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance
with the preceding sentence.

 

If any Security
selected for partial redemption is converted in part before termination of the conversion right with respect to the portion
of the Security so selected, the converted portion of such Security shall be deemed (so far as it may be) to be the portion
selected for redemption. Securities which have been converted during a selection of Securities to be redeemed shall be
treated by the Trustee as Outstanding for the purpose of such selection, subject to the Applicable Procedures of the DTC.

 

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The Trustee shall promptly
notify the Company and each Security Registrar in writing of the Securities selected for redemption as aforesaid and, in case of
any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed.

 

The provisions of the
two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether such Security
is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount
of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such
Security.

 

For all purposes of
this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in
the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which
has been or is to be redeemed.

 

Section 1104     
Notice of Redemption. Notice of redemption shall be given in the manner provided in Section 106 not less
than 30 days nor more than 60 days prior to the Redemption Date (or within such period as otherwise specified as contemplated by
Section 301 for the relevant Securities), to each Holder of Securities to be redeemed, at his address appearing in the Security
Register, except that redemption notices may be sent more than 60 days prior to a Redemption Date if the notice is issued in connection
with a defeasance of the Securities or a satisfaction and discharge of this Indenture pursuant to Article VI or Article XIII
hereof, respectively.

 

All notices of redemption
shall identify the Securities to be redeemed (including the series, issue date, interest rate, maturity date, certificate number
and CUSIP numbers, if any) and shall state:

 

(1)          the Redemption Date,

 

(2)          the Redemption Price,

 

(3)          if less than all the Outstanding Securities of any series consisting of more than a single Security are to be redeemed,
the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities
to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single Security are to be redeemed,
the principal amount of the particular Security to be redeemed,

 

(4)          that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed
and, if applicable, that interest thereon will cease to accrue on and after said date and, unless the Company shall default in
the payment of the Redemption Price and accrued interest, that interest on each such Security to be redeemed will cease to accrue
on and after said date and the only remaining right of the Holders of such Security to be redeemed is to receive payment of the
redemption price upon surrender to the Paying Agent of the Security to be redeemed,

 

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(5)          the place or places where each such Security is to be surrendered for payment of the Redemption Price,

 

(6)          the name and address of the Paying Agent,

 

(7)          that Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price,

 

(8)          that no representation is made as to the accuracy or correctness of the CUSIP, Common Code and ISIN numbers, if applicable,
if any, listed in such notice or printed on the Securities,

 

(9)          the conditions precedent for the redemption, if any,

 

(10)        for any Securities that by their terms may be converted, the terms of conversion, the date on which the right to
convert the Security to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion,
and

 

(11)        that the redemption is for a sinking fund, if such is the case.

 

Notice of redemption
of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, the
Trustee shall give notice of redemption in the Company’s name and at the Company’s expense; provided however that the
Company deliver to the Trustee at least five Business Days prior to the date the notice of Redemption is sent to Holders (unless
a shorter notice shall be satisfactory to the Trustee) a Company Order requesting that the Trustee give such notice in the name
and at the expense of the Company and setting forth the information to be stated in such notice as provided in this Section.

 

Section 1105     
Deposit of Redemption Price. Prior to 11:00 A.M., New York City time, on any Redemption Date, the Company
shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold
in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption
Date shall be an Interest Payment Date) accrued interest on, all the Securities which are to be redeemed on that date, other than
any Securities called for redemption on that date which have been converted prior to the date of such deposit.

 

If any Security called
for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for
the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive
interest as provided in the last paragraph of Section 307 or in the terms of such Security) be paid to the Company upon Company
Request or, if then held by the Company, shall be discharged from such trust.

 

Section 1106      Securities
Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date
(unless the Company shall default in the payment of the Redemption Price and accrued interest or unless the conditions for
the redemption have not been satisfied) such Securities shall cease to bear interest. Upon surrender of any such Security for
redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with
accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by
Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the
relevant Record Dates according to their terms and the provisions of Section 307.

 

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If any Security called
for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear
interest from the Redemption Date at the rate prescribed therefor in the Security.

 

Section 1107     
Securities Redeemed in Part. Any Security which is to be redeemed only in part shall be surrendered at a Place
of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in
form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing),
and the Company and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security
or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered.

 

Section 1108     
No Limit on Repurchases. Nothing in this Indenture or the Securities shall prohibit or limit the right of
the Company or any Affiliate of the Company to repurchase Securities from time to time at any price in open market purchases or
private transactions at negotiated prices, by tender offer or otherwise, in each case without any notice to or consent by Holders.
Any Securities purchased by the Company or any Affiliate of the Company may, to the extent permitted by law and at the discretion
of the Company, be held, resold or delivered to the Trustee for cancellation. Any such Securities delivered to the Trustee for
cancellation may not be resold and shall be disposed of by the Trustee in accordance with its customary procedures.

 

Article XII

SINKING FUNDS

 

Section 1201     
Applicability of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement
of Securities of any series except as otherwise specified as contemplated by Section 301 for such Securities.

 

The minimum amount
of any sinking fund payment provided for by the terms of any Securities is herein referred to as a “mandatory sinking
fund payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities is herein
referred to as an “optional sinking fund payment.” If provided for by the terms of any Securities, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment
shall be applied to the redemption of Securities as provided for by the terms of such Securities.

 

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Section 1202     
Satisfaction of Sinking Fund Payments with Securities. The Company (1) may deliver Outstanding Securities
of a series (other than any previously called for redemption) and (2) may apply as a credit Securities of a series which
have been converted in accordance with their terms or which have been redeemed either at the election of the Company pursuant
to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of
such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of
such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such
Securities; provided that the Securities to be so credited have not been previously so credited. The Securities to be so
credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities
so to be redeemed (or at such other prices as may be specified for such Securities as contemplated in Section 301), for redemption
through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 1203     
Redemption of Securities for Sinking Fund. Not less than 45 days (or such shorter period as shall be satisfactory
to the Trustee) prior to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers’
Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities,
the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied
by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be
so delivered. Not less than 30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof
to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been
duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107.

 

Article XIII

DEFEASANCE AND COVENANT DEFEASANCE

 

Section 1301     
Company’s Option to Effect Defeasance or Covenant Defeasance. Unless otherwise designated pursuant to
Section 301(15), the Securities of any series of Securities shall be subject to defeasance or covenant defeasance pursuant
to such Section 1302 or Section 1303, in accordance with any applicable requirements provided pursuant to Section 301
and upon compliance with the conditions set forth below in this Article. The Company may elect, at its option, at any time, to
have Section 1302 or Section 1303 applied to any Securities or any series of Securities so subject to defeasance or covenant
defeasance. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301
for such Securities.

 

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Section 1302      Defeasance
and Discharge. Upon the Company’s exercise of its option (if any) to have this Section 1302 applied to any
Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged from its
obligations with respect to such Securities as provided in this Section 1302 on and after the date the conditions set
forth in Section 1304 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and
to have satisfied all their other respective obligations under such Securities and this Indenture insofar as such Securities
are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same),
subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of
such Securities to receive, solely from the trust fund described in Section 1304(1) and as more fully set forth in such
Section, payments in respect of the principal of and any premium and interest on such Securities when payments are due, or,
if applicable, to convert such Securities in accordance with their terms, (2) the obligations of the Company with
respect to such Securities under Sections 304, 305, 306, 1002 and 1003, and, if applicable, their obligations with
respect to the conversion of such Securities, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder
and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this
Section 1302 applied to any Securities notwithstanding the prior exercise of its option (if any) to have
Section 1303 applied to such Securities.

 

Section 1303     
Covenant Defeasance. Upon the Company’s exercise of its option (if any) to have this Section 1303
applied to any Securities or any series of Securities, as the case may be, (1) the Company shall be released from its obligations
under Section 1004 and any covenants provided pursuant to Section 301(18), 901(2), 901(6) or 901(7) for the benefit of
the Holders of such Securities and (2) the occurrence of any event specified in Sections 501(4) (with respect to Section 1004
and any such covenants provided pursuant to Sections 301(18), 901(2), 901(6) or 901(7)) and 501(8) shall be deemed not to
be or result in an Event of Default, in each case with respect to such Securities as provided in this Section 1303 on and
after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”).
For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and
shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to the extent
so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to
any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but
the remainder of this Indenture and such Securities thereof shall be unaffected thereby.

 

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Section 1304     
Conditions to Defeasance or Covenant Defeasance. The following shall be the conditions to the application
of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be:

 

(1)          The
Company shall irrevocably have deposited or caused to be irrevocably deposited with the Trustee (or another trustee which
satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article
applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security
for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S.
Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with
their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) such
other obligations or arrangements as may be specified as contemplated by Section 301 with respect to such Securities, or
(D) a combination thereof, in each case sufficient (except in the case of clause (A), in the opinion of a
nationally recognized firm of independent public accountants or a nationally recognized investment banking firm expressed in
a written certification thereof delivered to the Trustee) to pay and discharge, and which shall be applied by the Trustee (or
any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on such Securities on
the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. As used herein,
“U.S. Government Obligation” means (i) any security which is (1) a direct obligation of the United States of
America for the payment of which the full faith and credit of the United States of America is pledged or (2) an obligation of
a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment
of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in
either case (1) or (2), is not callable or redeemable at the option of the issuer thereof, and (ii) any depositary receipt
issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government
Obligation which is specified in Clause (i) above and held by such bank for the account of the holder of such depositary
receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so
specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the
U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt.

 

(2)          In the event of an election to have Section 1302 apply to any Securities or any series of Securities, as the
case may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from,
or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this instrument, there has been
a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion
shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result
of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax
on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were
not to occur.

 

(3)          In the event of an election to have Section 1303 apply to any Securities or any series of Securities, as the
case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities
will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected
with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same
times as would be the case if such deposit and Covenant Defeasance were not to occur.

 

(4)          The Company shall have delivered to the Trustee an Officers’ Certificate to the effect that neither such Securities
nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit.

 

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(5)          No
event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities or
any other Securities (other than such an event or Event of Default with respect to such Securities resulting solely from the
incurrence of indebtedness or other borrowing of funds, or the grant of liens securing such indebtedness or other borrowing,
all or a portion of which are to be applied to such deposit) shall have occurred and be continuing at the time of such
deposit.

 

(6)          Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under,
any other agreement or instrument (other than this Indenture insofar as such Securities are concerned) to which the Company is
a party or by which it is bound.

 

(7)          The Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made
by the Company with the intent of preferring the Holders of such Securities over the other creditors of the Company or with the
intent of defeating, hindering, delaying or defrauding creditors of the Company.

 

(8)          The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with.

 

Section 1305     
Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions. Subject to
the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including the proceeds thereof)
deposited with the Trustee or other qualifying trustee (solely for purposes of this Section 1305 and Section 1306, the
Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 1304 in
respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities
and this Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as its own Paying
Agent or any Subsidiary or Affiliate of the Company) as the Trustee may determine, to the Holders of such Securities, of all sums
due and to become due thereon in respect of principal and any premium and interest, but money and U.S. Government Obligations so
held in trust need not be segregated from other funds except to the extent required by law.

 

The Company shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited
pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of Outstanding Securities.

 

Anything in this Article
to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money
or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which, in the opinion
of a 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 the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities.

 

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Section 1306      Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any
Securities by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the respective obligations under this Indenture and such Securities from which the Company
has been discharged or released pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit
had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is
permitted to apply all money held in trust pursuant to Section 1305 with respect to such Securities in accordance with
this Article; provided, however, that if the Company makes any payment of principal of or any premium or
interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated to the rights
(if any) of the Holders of such Securities to receive such payment from the money so held in trust.

 

* * *

 

This instrument may
be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. Delivery of an executed counterpart of this Indenture by facsimile or
electronic transmission shall be equally as effective as delivery of an original executed counterpart of this Indenture. Any party
delivering an executed counterpart of this Indenture by facsimile or electronic transmission also shall deliver an original executed
counterpart of this Indenture, but failure to deliver an original executed counterpart shall not affect the validity, enforceability
and binding effect of this Indenture.

 

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

 

	 	ANTERO RESOURCES CORPORATION
	 	 
	 	By:	            
	 	Name:	 
	 	Title:	 

 

[Signature Page to Indenture]

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:	            
	 	Name:	 
	 	Title:	 

 

[Signature Page to Indenture]

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