Document:

Supplemental Indenture

 Exhibit 4.1 
  
  
  
 SECOND SUPPLEMENTAL INDENTURE

 Between 
 SEACOR HOLDINGS INC. 
 and 
 U.S. BANK NATIONAL ASSOCIATION 
 dated as of 
 September 24, 2009 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE 1         Definitions and Incorporation by Reference
	  	1
			
	 SECTION 1.01.
	  	Definitions	  	1
			
	 SECTION 1.02.
	  	Other Definitions	  	8
			
	 SECTION 1.03.
	  	Incorporation by Reference of Trust Indenture Act	  	9
			
	 SECTION 1.04.
	  	Rules of Construction	  	9
		
	 ARTICLE 2         The Notes
	  	9
			
	 SECTION 2.01.
	  	General	  	9
			
	 SECTION 2.02.
	  	Registrar and Paying Agent	  	10
			
	 SECTION 2.03.
	  	Paying Agent To Hold Money in Trust	  	11
			
	 SECTION 2.04.
	  	Noteholder Lists	  	11
			
	 SECTION 2.05.
	  	Transfer and Exchange	  	11
			
	 SECTION 2.06.
	  	Outstanding Notes	  	14
			
	 SECTION 2.07.
	  	CUSIP Numbers	  	14
		
	 ARTICLE 3         Redemption
	  	15
			
	 SECTION 3.01.
	  	Notices to Trustee	  	15
			
	 SECTION 3.02.
	  	Notice of Redemption	  	15
			
	 SECTION 3.03.
	  	Optional Redemption	  	16
			
	 SECTION 3.04.
	  	Deposit of Redemption Price	  	17
			
	 SECTION 3.05.
	  	No Sinking Fund	  	17
		
	 ARTICLE 4         Change of Control
	  	17
		
	 ARTICLE 5         Covenants
	  	20
			
	 SECTION 5.01.
	  	SEC Reports	  	20
			
	 SECTION 5.02.
	  	Corporate Existence	  	20
			
	 SECTION 5.03.
	  	Limitation on Liens	  	20
			
	 SECTION 5.04.
	  	Limitation on Sale and Leaseback Transactions	  	20
			
	 SECTION 5.05.
	  	Exempted Indebtedness	  	21
			
	 SECTION 5.06.
	  	Waiver of Stay Extension or Usury Laws	  	21
		
	 ARTICLE 6         Consolidation, Merger, Conveyance, Transfer or
Lease
	  	21
			
	 SECTION 6.01.
	  	Company May Consolidate, etc., Only on Certain Terms	  	21

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 SECTION 6.02.
	  	Successor Substituted	  	22
		
	 ARTICLE 7         Defaults and Remedies
	  	22
			
	 SECTION 7.01.
	  	Events of Default	  	22
			
	 SECTION 7.02.
	  	Acceleration of Maturity; Rescission and Annulment	  	24
			
	 SECTION 7.03.
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	25
			
	 SECTION 7.04.
	  	Restoration of Rights and Remedies	  	25
			
	 SECTION 7.05.
	  	Control by Holders	  	25
			
	 SECTION 7.06.
	  	Waiver of Past Defaults	  	26
		
	 ARTICLE 8         Amendments
	  	26
			
	 SECTION 8.01.
	  	Without Consent of Holders	  	26
			
	 SECTION 8.02.
	  	With Consent of Holders	  	27
			
	 SECTION 8.03.
	  	Compliance with Trust Indenture Act	  	28
			
	 SECTION 8.04.
	  	Revocation and Effect of Consents and Waivers	  	28
			
	 SECTION 8.05.
	  	Notation on or Exchange of Notes	  	28
			
	 SECTION 8.06.
	  	Trustee To Sign Amendments	  	28
			
	 SECTION 8.07.
	  	Payment for Consent	  	28
		
	 ARTICLE 9         Discharge of Indenture; Defeasance
	  	29
			
	 SECTION 9.01.
	  	Defeasance	  	29
			
	 SECTION 9.02.
	  	Conditions to Defeasance	  	29
			
	 SECTION 9.03.
	  	Application of Trust Money	  	30
			
	 SECTION 9.04.
	  	Repayment to Company	  	30
			
	 SECTION 9.05.
	  	Indemnity for Government Obligations	  	30
			
	 SECTION 9.06.
	  	Reinstatement	  	31
		
	 ARTICLE 10         Miscellaneous
	  	31
			
	 SECTION 10.01.
	  	Trust Indenture Act Controls	  	31
			
	 SECTION 10.02.
	  	Notices	  	31
			
	 SECTION 10.03.
	  	Communication by Holders with Other Holders	  	32
			
	 SECTION 10.04.
	  	Certificate and Opinion as to Conditions Precedent	  	32

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 SECTION 10.05.
	  	Statements Required in Certificate or Opinion	  	32
			
	 SECTION 10.06.
	  	When Notes Disregarded	  	33
			
	 SECTION 10.07.
	  	Rules by Trustee, Paying Agent and Registrar	  	33
			
	 SECTION 10.08.
	  	Legal Holidays	  	33
			
	 SECTION 10.09.
	  	Governing Law	  	33
			
	 SECTION 10.10.
	  	No Recourse Against Others	  	33
			
	 SECTION 10.11.
	  	Successors	  	33
			
	 SECTION 10.12.
	  	Multiple Originals	  	33
			
	 SECTION 10.13.
	  	Table of Contents; Headings	  	34
			
	 Exhibit A
	  	Form of Note	  	A-1

  

 iii 

 SECOND SUPPLEMENTAL INDENTURE dated as of September 24, 2009 to that certain Indenture, dated as of
January 10, 2001 (the “Base Indenture” and, together with the First Supplemental Indenture (as defined below) and the Second Supplemental Indenture, the “Indenture”), between SEACOR HOLDINGS INC. (formerly known as SEACOR
SMIT Inc.), a Delaware corporation (the “Company”), and U.S. BANK NATIONAL ASSOCIATION (formerly known as U.S. Bank Trust National Association), a national banking association (the “Trustee”). 
 The Company and the Trustee have heretofore executed the Base Indenture, a form of which has been filed with the Securities and Exchange
Commission under the Securities Act of 1933, as amended, as Exhibit 4.2 to the Company’s Registration Statement on Form S-3 (Registration No. 333-53326), providing for the issuance from time to time of debt securities of the Company, and a
First Supplemental Indenture, dated as of September 27, 2002 (the “First Supplemental Indenture”), providing for the issuance of the Company’s 5 7/8% Senior Notes due October 1, 2012. 
 The Company and the Trustee are hereby supplementing the Base Indenture pursuant to the provisions of Section 9.01(i) of the Base
Indenture to establish the form and terms and conditions of the debt securities issued pursuant to this Second Supplemental Indenture. The terms of this Second Supplemental Indenture shall supplement and be incorporated in their entirety with the
terms of the Base Indenture solely with respect to the debt securities issued pursuant to this Second Supplemental Indenture. To the extent any terms of this Second Supplemental Indenture are contrary to or duplicative of terms contained in the Base
Indenture, the terms of this Second Supplemental Indenture shall be deemed to supersede the Base Indenture solely with respect to the debt securities issued pursuant to this Second Supplemental Indenture. 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s
7.375% Senior Notes due 2019 (the “Notes”): 
 ARTICLE 1 
 Definitions and Incorporation by Reference 
 SECTION 1.01.
Definitions. 
 So long as any of the Notes are outstanding, the following definitions shall be applicable to the Notes, shall
be included as defined terms for all purposes under the Base Indenture with respect to the Notes and, to the extent inconsistent with the definitions contained in Section 1.01 of the Base Indenture, shall replace such definitions with respect
to the Notes. Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Base Indenture. 

 “Applicable Procedures” means, with respect to any transfer or exchange of
beneficial interests in a Global Note, the rules and procedures of the Depositary that apply to such transfer and exchange. 
 “Below Investment Grade Rating Event” means the Notes are rated below Investment Grade by at least two of the three Rating Agencies on any date from the date of the public notice of an arrangement that would, if consummated,
result in a Change of Control until the end of the 60-day period following public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for
possible downgrade by any of the Rating Agencies as a result of such Change of Control). 
 “Business Day” means each
day which is not a Legal Holiday. 
 “Capitalized Lease Obligation” means an obligation that is required to be
classified and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance
with such principles; and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

 “Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any debt securities convertible into such equity. 
 “Change of Control” means the occurrence of any one of the following: (1) the direct or indirect sale, lease, transfer,
conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “person” (as
that term is used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its Subsidiaries or any employee benefit plan of the Company or any of its Subsidiaries; (2) the consummation of any transaction (including,
without limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d) of the Exchange Act) becomes the beneficial owner (within the meaning of Rule 13d-3 under the
Exchange Act), directly or indirectly, of 50% or more of the total voting power of the Voting Stock of the Company or any direct or indirect parent company holding directly or indirectly 100% of the total voting power of the Voting Stock of the
Company, or other Voting Stock into which the Voting Stock of SEACOR or such parent company is reclassified, consolidated, exchanged or changed; or (3) the first day on which a majority of the members of the Company’s Board of Directors
are not Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (i)(A) the Company becomes a wholly owned Subsidiary of a holding company; and (B) the holders of the Voting Stock
of such holding company immediately following that transaction are substantially the same as the

  

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holders of the Voting Stock of the Company immediately prior to that transaction; and (ii) pursuant to a transaction in which shares of the Company’s Voting Stock outstanding
immediately prior to the transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person immediately after giving effect to such transaction; or (iii) the “person” referenced in
clause (1) or (2) of the preceding sentence previously acquired assets of the Company and its Subsidiaries or became the beneficial owner of the Company’s Voting Stock, in either case so as to have constituted a Change of Control in
respect of which a Change of Control Offer was made (or otherwise would have required a Change of Control Offer in the absence of the waiver of such requirement by the Holders of the Notes). 
 “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Consolidated Net Tangible Assets” means the total amount of assets(less applicable reserves and other properly deductible items)
after deducting (1) all current liabilities (excluding the amount of those which are by their terms extendable or renewable at the option of the obligor to a date more than 12 months after the date as of which the amount is being determined)
and (2) all goodwill, tradenames, trademarks, patents, unamortized debt discount and expense and other like intangible assets, all as set forth on the most recent balance sheet of the Company and its consolidated Subsidiaries and determined in
accordance with GAAP. 
 “Continuing Director” means, as of any date of determination, any member of the
Company’s Board of Directors who (1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a
director, without objection to such nomination). 
 “Currency Agreement” means in respect of a Person any foreign
exchange contract, currency swap agreement or other similar agreement designed to protect such Person against fluctuations in currency values. 
 “Definitive Notes” means Notes substantially in the form of Exhibit A attached hereto but that do not contain the Global Note Legend. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Fitch” means Fitch Ratings, a division of the Fitch Group, a subsidiary of Fimalac, S.A. 
  

 3 

 “GAAP” means generally accepted accounting principles in the United States of
America as in effect as of the Issue Date. 
 “Global Note” means, individually, each Note evidencing all or a part of
the Notes to and registered in the name of the Depositary, substantially in the form attached hereto as Exhibit A. 
 “Global Note Legend” means the legend set forth in Exhibit A, which shall be placed substantially in such form on all Global Notes issued under this Indenture. 
 “Holder” or “Noteholder” means the Person in whose name a Note is registered on the Registrar’s books. 

“Incur” means issue, assume, Guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness or
Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Subsidiary at the time it becomes a Subsidiary. The term
“Incurrence” when used as a noun shall have a correlative meaning. The accretion of principal of a non-interest bearing or other discount security shall be deemed the Incurrence of Indebtedness. 
 “Indebtedness” means, with respect to any Person, at any date, any of the following, without duplication, (i) any liability,
contingent or otherwise, of such Person (A) for borrowed money (whether or not the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof), (B) evidenced by a Note, bond, debenture or similar
instrument or (C) for the payment of money relating to a Capitalized Lease Obligation or other obligation (whether issued or assumed) relating to the deferred purchase price of property; (ii) all conditional sale obligations and all
obligations under any title retention agreement (even if the rights and remedies of the seller under such agreement in the event of default are limited to repossession or sale of such property), but excluding trade accounts payable arising in the
ordinary course of business; (iii) all obligations for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction other than entered into in the ordinary course of business; (iv) all
indebtedness of others secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on any asset or property (including, without limitation, leasehold interests and any other
tangible or intangible property) of such Person, whether or not such indebtedness is assumed by such Person or is not otherwise such Person’s legal liability; provided, that if the obligations so secured have not been assumed in full by such
Person or are otherwise not such Person’s legal liability in full, the amount of such indebtedness for the purposes of this definition shall be limited to the lesser of the amount of such indebtedness secured by such Lien or the fair market
value of the assets of the property securing such Lien; (v) all indebtedness of others (including all interest and dividends on any Indebtedness or Preferred Stock of any other Person for the payment of which is) guaranteed, directly or
indirectly, by such Person or that is otherwise its legal liability or which such Person has agreed to purchase or repurchase or in respect of which such Person has agreed contingently to supply or advance funds; and (vi) obligations in respect
of Currency Agreements and Interest Rate Agreements. 
  

 4 

 “Indirect Participant” means a Person who holds an interest through a Participant.

 “Interest Rate Agreement” means in respect of a Person any interest rate swap agreement, interest rate cap
agreement or other financial agreement or arrangement designed to protect such Person against fluctuations in interest rates. 
 “Investment Grade” means a rating of BBB- or better by Fitch (or its equivalent under any successor rating categories of Fitch), Baa3 or better by Moody’s (or its equivalent under any successor rating categories of
Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

 “Issue Date” means the date on which the Notes are originally issued. 
 “Lien” means any mortgage, pledge, security interest, encumbrance, lien, charge or adverse claim affecting title or resulting in
an encumbrance against real or personal property or a security interest of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof or any filing or agreement to file a financing
statement as debtor under the Uniform Commercial Code or any similar statute other than to reflect ownership by a third party or property leased to the Company or any of its Subsidiaries under a lease that is not in the nature of a conditional sale
or title retention agreement). 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Notes” has the meaning assigned to it in the preamble to this Second Supplemental Indenture. 
 “Participant” means, with respect to the Depositary, a Person who has an account with the Depositary. 
 “Permitted Liens” means, with respect to any Person: (i) Liens existing on the Issue Date; (ii) Liens on Property or
assets of, or any shares of stock of or secured debt of, any Person existing at the time such Person becomes a Subsidiary of the Company or at the time such corporation is merged into the Company or any of its Subsidiaries; (iii) Liens in favor
of the Company or any of its Subsidiaries; (iv) Liens in favor of governmental bodies to secure progress or advance payments; (v) Liens securing industrial revenue or pollution control bonds; (vi) Liens on Property to secure
Indebtedness incurred for the purpose of (a) financing all or any part of the purchase price of such Property incurred prior to, at the time of, or within 180 days after, the acquisition of such Property or (b) financing all or any part of
the cost of construction, improvement, development or expansion of any such Property; (vii) statutory liens or

  

 5 

 
landlords’, carriers’, warehouseman’s, mechanics’, suppliers’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business and
with respect to amounts not yet delinquent or being contested in good faith by appropriate proceedings, if a reserve or other appropriate provisions, if any, as shall be required in conformity with GAAP shall have been made therefor;
(viii) Liens on current assets of Subsidiaries securing Indebtedness of such Subsidiaries; (ix) Liens securing Title XI Financing; (x) any extensions, substitutions, refinancings, replacements or renewals in whole or in part of a Lien
(an “existing Lien”) enumerated in clauses (i) through (x) above; provided, however, (A) that the Lien may not extend beyond (1) the Property or Indebtedness subject to the existing Lien and (2) improvements and
construction on such Property (B) and the Indebtedness secured by the Lien may not exceed the Indebtedness secured at the time by the existing Lien; and (xi) Liens for taxes, assessments or other governmental charges not yet overdue for a
period of more than 30 days or subject to penalties for nonpayment or which are being contested in good faith by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of such Person in
accordance with GAAP. 
 “Preferred Stock”, as applied to the Capital Stock of any Person, means Capital Stock of any
class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of Capital Stock
of any other class of such Person. 
 “principal” of a Note means the principal of the Note plus the premium, if any,
payable on the Note which is due or overdue or is to become due at the relevant time. 
 “Principal Property” means
any Property owned or leased by the Company or any Subsidiary, the net book value of which exceeds one half of one percent of Consolidated Tangible Assets. 
 “Property” of any Person means all types of real, personal, tangible, intangible or mixed property owned by such Person whether or not included in the most recent consolidated balance sheet of
such Person and its Subsidiaries under GAAP. 
 “Rating Agency” means (i) each of Fitch, Moody’s and
S&P; and (ii) if any of Fitch, Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a resolution of the Board of Directors) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as
the case may be. 
 “Remaining Term” means the remaining term to maturity of the Notes, calculated to the nearest
1/12th of a year. 
  

 6 

 “Sale and Leaseback Transaction” means any arrangement with any Person pursuant to
which the Company or any Subsidiary leases any Principal Property that has been or is to be sold or transferred by the Company or the Subsidiary to such Person, other than (1) leases for a term, including renewals at the option of the lessee,
of not more than five years, (2) leases between the Company and a Subsidiary or between Subsidiaries, (3) leases of Principal Property executed by the time of, or within 12 months after the latest of, the acquisition, the completion of
construction or improvement, or the commencement of commercial operation of the Principal Property, and (4) leases in which the amount of Attributable Debt associated with such lease is less than 60% of the net proceeds of the sale of the
property leased in such transaction. 
 “S&P” means Standard & Poor’s Ratings Services, a division
of The McGraw-Hill Companies, Inc. 
 “SEC” means the Securities and Exchange Commission. 
 “Significant Subsidiary” means any Subsidiary that would be a “Significant Subsidiary” of the Company within the meaning
of Rule 1-02 under Regulation S-X promulgated by the SEC. 
 “Stated Maturity,” when used with respect to any security
or any installment of interest thereon, means the date specified in such security as the fixed date on which the principal of such security or such installment of interest is due and payable. 
 “Subsidiary” of any Person means: 
 (i) any Person of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more of the Subsidiaries of that Person or a combination thereof; 
 (ii) any partnership, joint venture or other Person in which such Person or one or more of the Subsidiaries of that Person or
a combination thereof has the power to control by contract or otherwise the board of directors or equivalent governing body or otherwise controls such entity. 
 “Title XI Financing” means any Indebtedness issued, incurred or assumed in respect of any vessels of the Company or any Subsidiary pursuant to 46 U.S.C. Chapter 537 (formerly known as Title XI
of the Merchant Marine Act, 1936, as amended), as may be amended from time to time, or any successor statutes and the rules and regulations promulgated thereunder (“Title XI”); provided that such Indebtedness is incurred within the
applicable time periods provided pursuant to Title XI for the purpose of financing or refinancing the actual cost or depreciated actual cost (if following delivery or redelivery of a vessel) of the construction, reconstruction or reconditioning of
such vessel. 
  

 7 

 “Treasury Yield” means a rate of interest per annum equal to the weekly average
yield to maturity of United States Treasury Notes that have a constant maturity that corresponds to the Remaining Term. The Treasury Yield shall be determined as of the third Business Day immediately preceding the applicable Redemption Date.

 “Trust Officer” means the Chairman of the Board, the President or any other officer or assistant officer of the
Trustee assigned by the Trustee to administer its corporate trust matters. 
 “Uniform Commercial Code” means the New
York Uniform Commercial Code as in effect from time to time. 
 “U.S. Government Obligations” means direct obligations
(or certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged
and which are not callable at the issuer’s option. 
 “Voting Stock” of any specified “person” (as that
term is used in Section 13(d)(3) of the Exchange Act) as of any date means the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 
 “Wholly Owned Subsidiary” means a Subsidiary all the Capital Stock of which (other than directors’ qualifying shares) is
owned by the Company or one or more Wholly Owned Subsidiaries. 
 SECTION 1.02. Other Definitions. 
  

				
	 Term
	  	Defined in Section	 
	 “Additional Notes”
	  	2.01	  
	 “Attributable Debt”
	  	5.04	  
	 “Change of Control Offer”
	  	4.01	(b) 
	 “Change of Control Payment”
	  	4.01	(a) 
	 “Change of Control Payment Date”
	  	4.01	(b) 
	 “covenant defeasance option”
	  	9.01	(a) 
	 “Event of Default”
	  	7.01	  
	 “Funded Indebtedness”
	  	5.04	  
	 “Independent Investment Banker”
	  	3.03	  
	 “legal defeasance option”
	  	9.01	(a) 
	 “Legal Holiday”
	  	10.08	  
	 “Paying Agent”
	  	2.02	  
	 “Redemption Date”
	  	3.03	  
	 “Redemption Price”
	  	3.03	  
	 “Registrar”
	  	2.02	  

  

 8 

 SECTION 1.03. Incorporation by Reference of Trust Indenture Act. This Indenture is subject
to the mandatory provisions of the Trust Indenture Act (the “TIA”) which are incorporated by reference in and made a part of this Indenture. The following TIA terms have the following meanings: 
 “Commission” means the SEC; 
 “indenture securities” means the Notes; 
 “indenture security
holder” means a Noteholder; 
 “indenture to be qualified” means this Indenture; 
 “indenture trustee” or “institutional trustee” means the Trustee; and 
 “obligor” on the indenture securities means the Company and any other obligor on the indenture securities. 
 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
have the meanings assigned to them by such definitions. 
 SECTION 1.04. Rules of Construction. Unless the context otherwise
requires: 
 (1) a term has the meaning assigned to it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (3) “or” is not exclusive; 
 (4) “including” means including without limitation; 
 (5) words in the singular include the plural and words in the plural include the singular; and 
 (6) unless indicated, all section references refer to sections of this Second Supplemental Indenture. 
 ARTICLE 2 
 The
Notes 
 SECTION 2.01. General. 
 (1) Designation of Series. Pursuant to the terms hereof and Section 2.01 of the Base Indenture, there are hereby established the Notes, known as the “7.375% Senior Notes due 2019,” and such
Notes shall be deemed “Securities” for all purposes under the Base Indenture. 
  

 9 

 (2) Form of Notes. The Notes and the Trustee’s certificate of authentication shall be
substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes shall be in denominations of
$2,000 and integral multiples of $1,000 in excess thereof. The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of the Indenture and the Company and the Trustee, by their execution and delivery of
this Second Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall
govern and be controlling. 
 (3) Additional Notes. So long as no Event of Default has occurred and is continuing, the Company
may issue additional Notes (the “Additional Notes”) under this Second Supplemental Indenture from time to time after the date hereof. The Notes and any Additional Notes issued under this Second Supplemental Indenture shall be treated as a
single class for all purposes under the Indenture, including, without limitation, waivers, amendments and redemptions. The Notes and any debt securities subsequently issued under the Base Indenture shall be treated as distinct classes of debt
securities for all purposes under the Indenture, including, without limitation, waivers, amendments and redemptions. 
 (4)
Global Notes. Notes issued in global form shall be substantially in the form of Exhibit A attached hereto (including the Global Note Legend thereon and the “Schedule of Increases or Decreases in Global Note” attached thereto). Notes issued
in definitive form shall be substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon and without the “Schedule of Increases or Decreases in Global Note” attached thereto). Each Global Note shall
represent such of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of
outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal
amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.11 of the Base Indenture. The
Company initially appoints the Depositary Trust Company (“DTC”) to act as Depositary with respect to the Global Notes. 
 SECTION 2.02. Registrar and Paying Agent. The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be
presented for payment (the “Paying Agent”) in the Borough of Manhattan, The City of New York, which initially shall be located at U.S. Bank National Association 100 Wall Street, Suite 1600, New York, New York 10005. The Registrar shall
keep a register of the Notes and of their transfer and exchange. The Company may have one or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes any additional paying agent. 
  

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 The Company shall enter into an appropriate agency agreement with any Registrar, Paying
Agent or co-registrar not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address
of any such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.06 of the Base Indenture. The Company or any of its
domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Registrar, co-registrar or transfer agent. 
 The
Company initially appoints the Trustee as Registrar and Paying Agent in connection with the Notes. 
 SECTION 2.03. Paying Agent
To Hold Money in Trust. Prior to each due date of the principal and interest on any Note, the Company shall deposit with the Paying Agent a sum sufficient to pay such principal and interest when so becoming due. The Company shall require each Paying
Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of Noteholders or the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Notes and shall notify
the Trustee of any default by the Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may
require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying Agent. Upon complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee.

 SECTION 2.04. Noteholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Noteholders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee, in writing at least five Business Days before each interest payment date and at such other times as the
Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Noteholders. 
 SECTION 2.05. Transfer and Exchange. 
 (a) Transfer and Exchange of Global Notes.
A Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. All Global Notes shall be exchanged by the Company for

  

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Definitive Notes if (i) DTC notifies the Company that it is unwilling or unable to continue as Depositary or if DTC ceases to be a clearing agency registered or in good standing under the
Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be,
(ii) the Company discontinues use of the system of book-entry transfer through DTC or any successor depositary, or (iii) a Default has occurred and is continuing, Upon the occurrence of either of the preceding events in (i), (ii) or
(iii) above, Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 of the Base Indenture. Every
Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.05 or Section 2.07 or 2.10 of the Base Indenture shall be authenticated and delivered in the form of, and
shall be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.05(a); however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.05(b) and
(c) hereof. 
 (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of
beneficial interests in the Global Notes shall be effected through the Depositary in accordance with the provisions of this Indenture and the Applicable Procedures. Transfers of beneficial interests in the Global Notes also shall require compliance
with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (i) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in a
Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.05(b)(i). 
 (ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.05(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either (A) (1) a written order from a Participant or an Indirect Participant
given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged
and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B) (1) a written order from a Participant or an Indirect
Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note

  

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pursuant to Section 2.05(c) below in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing
information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests
in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.05(f) hereof. 
 (c) Transfer or Exchange of Beneficial Interests in Global Notes for Definitive Notes. The holder of a beneficial interest in a Global Note
may exchange such beneficial interest for a Definitive Note or transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note only upon satisfaction of the conditions set forth in Section 2.05(a)(i),
(ii) or (iii) hereof, in which event such holder may request the Trustee to, and the Trustee shall, cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.05(f) hereof, and
the Company shall execute and the Trustee shall authenticate and deliver, in both cases in accordance with Section 2.04 of the Base Indenture, to the Person designated in such request a Definitive Note in the appropriate principal amount. Any
Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.05(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall
instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. 
 (d) Transfer and Exchange of Definitive Notes for Beneficial Interests. A Holder of a Definitive Note may exchange such Note for a
beneficial interest in a Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee
shall cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes pursuant to Section 2.05(f) hereof. 
 (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s
compliance with the provisions of this Section 2.05(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. 
 A Holder of Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of a Definitive Note. Upon receipt
of a request to register such a transfer, the Registrar shall register the Definitive Notes pursuant to the instructions from the Holder thereof. 
  

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 (f) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee
in accordance with Section 2.08 of the Base Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note
shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
 SECTION 2.06. Outstanding Notes. Notes outstanding at any time are all Notes authenticated by the Trustee except for those canceled by it,
those delivered to it for cancellation and those described in this Section as not outstanding. A Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note. 
 If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee and the Company receive proof
satisfactory to them that the replaced Note is held by a bona fide purchaser. 
 If the Paying Agent segregates and holds in
trust, in accordance with this Indenture, on a Redemption Date or maturity date, money sufficient to pay all principal and interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be,
then on and after that date, such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 
 SECTION 2.07. CUSIP Numbers. The Company in issuing the Notes may use “CUSIP” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided, however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. 
  

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 ARTICLE 3 
 Redemption 
 SECTION 3.01. Notices to Trustee. If the Company elects to redeem
Notes pursuant to Section 3.03, it shall notify the Trustee in writing of the Redemption Date, the principal amount of Notes to be redeemed and the paragraph of the Notes pursuant to which the redemption shall occur. The Company shall give each
notice to the Trustee provided for in this Section at least 60 days before the Redemption Date unless the Trustee consents to a shorter period. 
 SECTION 3.02. Notice of Redemption. At least 30 days but not more than 60 days before a date for redemption of Notes, the Company shall mail a notice of redemption by first-class mail to each Holder of
Notes to be redeemed at such Holder’s registered address. 
 The notice shall identify the Notes to be redeemed and shall
state: 
 (1) the Redemption Date; 
 (2) the Redemption Price; 
 (3) the name and address of the Paying Agent; 
 (4) that Notes
called for redemption must be surrendered to the Paying Agent to collect the Redemption Price; 
 (5) if fewer
than all the outstanding Notes are to be redeemed, the identification and principal amounts of the particular Notes to be redeemed; 
 (6) that, unless the Company defaults in making such redemption payment or the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture, interest on Notes (or portion
thereof) called for redemption ceases to accrue on and after the Redemption Date; 
 (7) the paragraph of the
Notes pursuant to which the Notes called for redemption are being redeemed; and 
 (8) that no representation is
made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes. 
 At the
Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee with the information required by this Section. Failure to give
notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 
  

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 SECTION 3.03. Optional Redemption. The Notes shall be redeemable at any time, at the option
of the Company, in whole or from time to time in part on any date prior to maturity (the “Redemption Date”) at a price equal to 100% of the principal amount thereof plus accrued interest to the Redemption Date (subject to the right of
Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the Redemption Date) plus a Make-Whole Premium, if any (the “Redemption Price”). In no event shall the Redemption
Price ever be less than 100% of the principal amount of the Notes plus accrued interest to the Redemption Date. 
 The amount of
the Make-Whole Premium with respect to any Note (or portion thereof) to be redeemed shall be equal to the excess, if any, of: 
 (1) the sum of the present values, calculated as of the Redemption Date, of: 
 (a) each interest payment that, but for such redemption, would have been payable on the Note (or portion thereof) being redeemed on each interest payment date occurring after the Redemption Date
(excluding any accrued interest for the period prior to the Redemption Date); and 
 (b) the principal amount
that, but for such redemption, would have been payable at the final maturity of the Note (or portion thereof) being redeemed; over 
 (2) the principal amount of the Note (or portion thereof) being redeemed. 
 The
present values of interest and principal payments referred to in clause (1) above shall be determined in accordance with generally accepted principles of financial analysis. Such present values shall be calculated by discounting the amount of
each payment of interest or principal from the date that each such payment would have been payable, but for the redemption, to the Redemption Date at a discount rate equal to the Treasury Yield plus 50 basis points. 
 The Make-Whole Premium shall be calculated by an independent investment banking institution of national standing appointed by the Company;
provided, however, that if the Company fails to make such appointment at least 45 Business Days prior to the Redemption Date, or if the institution so appointed is unwilling or unable to make such calculation, such calculation shall be made by J.P.
Morgan Securities Inc. or, if such firm is unwilling or unable to make such calculation, by an independent investment banking institution of national standing appointed by the Trustee (in any such case, an “Independent Investment Banker”).

  

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 The weekly average yields of United States Treasury Notes shall be determined by reference
to the most recent statistical release published by the Federal Reserve Bank of New York and designated “H.15(519) Selected Interest Rates” or any successor release (the “H.15 Statistical Release”). If the H.15 Statistical
Release sets forth a weekly average yield for United States Treasury Notes having a constant maturity that is the same as the Remaining Term, then the Treasury Yield shall be equal to such weekly average yield. In all other cases, the Treasury Yield
shall be calculated by interpolation, on a straight-line basis, between the weekly average yields on the United States Treasury Notes that have a constant maturity closest to and greater than the Remaining Term and the United States Treasury Notes
that have a constant maturity closest to and less than the Remaining Term and the United States Treasury Notes that have a constant maturity closest to and less than the Remaining Term (in each case as set forth in the H.15 Statistical Release). Any
weekly average yields so calculated by interpolation shall be rounded to the nearest 1/100th of 1%, with any figure of 1/200th of 1% or above being rounded upward. If weekly average yields for United States Treasury Notes are not available in the
H.15 Statistical Release or otherwise, then the Treasury Yield shall be calculated by interpolation of comparable rates selected by the Independent Investment Banker. 
 SECTION 3.04. Deposit of Redemption Price. On or before the Redemption Date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary is the Paying Agent, shall segregate and
hold in trust) money sufficient to pay the Redemption Price of and accrued interest on all Notes to be redeemed on that date other than Notes or portions of Notes called for redemption which have been delivered by the Company to the Trustee for
cancellation. 
 SECTION 3.05. No Sinking Fund. The Notes shall not be entitled to the benefit of any sinking fund or mandatory
redemption. 
 ARTICLE 4 
 Change of Control 
 SECTION 4.01. Change of Control. 
 (a) Upon the occurrence of a Change of Control Repurchase Event, unless all Notes have been called for redemption pursuant to
Section 3.03 hereof, each Holder of Notes shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a repurchase price in cash
equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to the date of purchase (the “Change of Control Payment”). 
 (b) Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but
after the public announcement of the Change of Control, the Company shall mail, or cause to be mailed, a notice (a “Change of Control Offer”) to each Holder, with a copy to the Trustee, describing the transaction or transactions that
constitute or may constitute the Change of Control Repurchase Event and shall specify, without limitation, the following: 
 (1) that the Change of Control Offer is being made pursuant to this Section 4.01 and that all Notes properly tendered pursuant to such Change of Control Offer will be accepted for payment by the
Company; 
  

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 (2) the Change of Control Payment and the purchase date, which shall be a
Business Day no earlier than 30 days and no later than 60 days from the date such notice is mailed, other than as may be required by law (the “Change of Control Payment Date”); 
 (3) the CUSIP numbers for the Notes; 
 (4) that any Note not properly tendered will remain outstanding and continue to accrue interest; 
 (5) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest on the Change of Control Payment Date; 
 (6) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes
completed, to the Paying Agent specified in the notice at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 
 (7) that Holders will be entitled to withdraw their tendered Notes and their election to require the Company to repurchase
such Notes; provided that the Paying Agent receives, not later than the close of business on the fifth Business Day preceding the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of the Holder of the Notes,
the principal amount of Notes tendered for purchase, and a statement that such Holder is withdrawing its tendered Notes and its election to have such Notes purchased; 
 (8) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered, which unpurchased portion will be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof; and 
 (9) the other instructions, as determined by the Company, consistent with this Section 4.01, that a Holder must follow.

  

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 If the notice is mailed prior to the date of consummation of the Change of Control, the
notice shall state that the Change of Control Offer is conditioned on the Change of Control Repurchase Event being consummated on or prior to the Change of Control Payment Date. 
 (c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change in Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict
with the provisions of this Section 4.01, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.01 by virtue of such conflict. 

(d) On the Change of Control Payment Date, the Company will, to the extent lawful: 
 (1) accept for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer; 

(2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of
Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes so properly
accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 
 (e) The Paying Agent shall promptly mail or wire transfer, in accordance with the instructions given to the Company by the Holders of the Notes, to each Holder of Notes properly tendered the Change of
Control Payment for such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any;
provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 (f) The Company shall not be required to make a Change of Control Offer upon a Change of Control Repurchase Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this Section 4.01 applicable to a Change of Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under such Change of Control Offer. Notwithstanding anything to the contrary
herein, a Change of Control Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer.

  

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 ARTICLE 5 
 Covenants 
 SECTION 5.01. SEC Reports. The Company shall file with the Trustee,
within 15 days after it files them with the SEC, copies of its annual report and the information, documents and other reports which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act.
Notwithstanding that the Company may not be required to remain subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall continue to file with the SEC and provide the Trustee with such annual reports
and such information, documents and other reports as are specified in Sections 13 and 15(d) of the Exchange Act and applicable to a U.S. corporation subject to such Sections, such information, documents and reports to be so filed and provided at the
times specified for the filing of such information, documents and reports under such Sections. The Company also shall comply with the other provisions of TIA Section 314(a). Notwithstanding anything to the contrary herein, the Trustee shall
have no duty to review such documents for purposes of determining compliance with any provisions of this Indenture. 
 SECTION
5.02. Corporate Existence. Subject to the provisions of Article 6, the Company shall do or cause to be done all things necessary to and shall cause each of its Subsidiaries to preserve and keep in full force and effect its corporate existence,
material rights (charter and statutory) and franchises of the Company and each of its Subsidiaries; provided, however, that the Company shall not be required to preserve any such material right or franchise or the corporate existence of any of its
Subsidiaries if (a) the preservation thereof is no longer desirable in the conduct of the business of the Company or such Subsidiary and (b) the loss thereof is not disadvantageous in any material respect to the Holders of the Notes.

 SECTION 5.03. Limitation on Liens. Subject to Section 5.05, the Company shall not, and shall not permit any of its
Subsidiaries to, create, incur or assume any Indebtedness for borrowed money that is secured by a Lien, except for Permitted Liens, upon any Principal Property or any shares of stock or debt of any Subsidiary that owns or leases any Principal
Property (whether such Principal Property, shares of stock or debt are now owned or hereafter acquired) unless all payments due under this Indenture and the Notes are secured on an equal and ratable basis with the Indebtedness so secured until such
time as such Indebtedness is no longer secured by a Lien, except for Permitted Liens. 
 SECTION 5.04. Limitation on Sale and
Leaseback Transactions. Subject to Section 5.05, the Company shall not, and shall not permit any Subsidiary to, enter into any Sale and Leaseback Transaction with respect to any Principal Property, unless either (i) the Company or such
Subsidiary would be entitled, pursuant to the terms of Section 5.03, to incur Indebtedness secured by a Lien on such property to be leased without equally and ratably securing the Notes, or (ii) the Company, within 180 days after the
effective date of the Sale and Leaseback Transaction, applies an amount equal to the

  

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Attributable Debt of such transaction to either (a) the voluntary retirement of its Funded Indebtedness, or (b) the purchase, construction or development of other property, facilities
or equipment used or useful in the Company’s or its Subsidiaries’ business. For the purposes of this Article, “Attributable Debt” in respect of a Sale and Leaseback Transaction means, at the time of determination, the present
value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction, including any period for which such lease has been extended. Such present value shall be calculated
using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP. For the purposes of this Article, “Funded Indebtedness” shall mean Indebtedness (including the Notes) maturing by the
terms thereof more than one year after the original creation thereof. 
 SECTION 5.05. Exempted Indebtedness. Notwithstanding
the provisions contained in Sections 5.03 and 5.04, the Company and its Subsidiaries may issue, assume, suffer to exist or guarantee Indebtedness which would otherwise be subject to the limitation of Section 5.03, without securing the Notes, or
may enter into Sale and Leaseback Transactions which would otherwise be subject to the limitation of Section 5.04, without retiring Funded Indebtedness, or enter into a combination of such transactions, if the sum of (i) the principal
amount of all such Indebtedness and (ii) the Attributable Debt does not at any time exceed 15% of the Consolidated Net Tangible Assets of the Company and its consolidated Subsidiaries, as shown in the audited consolidated balance sheet
contained in the latest annual report to the Company’s stockholders. 
 SECTION 5.06. Waiver of Stay Extension or Usury
Laws. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law
that would prohibit or forgive the Company from paying all or any portion of the principal of, or interest on the Notes as contemplated herein or in the Notes, wherever enacted, now or at any time hereafter in force, or that may affect the covenants
or the performance of this Indenture; and (to the extent that it may lawfully do so) the Company hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not hinder, delay or impede the execution of any power
herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 6 
 Consolidation, Merger, Conveyance, Transfer or Lease 
 SECTION 6.01. Company May Consolidate, etc., Only on Certain Terms. The Company may consolidate with or merge into any other Person or
convey, transfer or lease its properties and assets substantially as an entirety to any Person, and may permit any Person to consolidate with or merge into, or convey, transfer or lease its properties and assets substantially as an entirety to, the
Company; provided, however that: 
 (1) in case the Company shall consolidate with or merge into
another Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or
which leases, the properties and assets of the Company substantially as an entirety shall be organized under the laws of any United States jurisdiction; 
  

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 (2) any such successor, transferee or lessee (if other than the Company)
shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and interest on all the Notes and the performance or observance
of every covenant of this Indenture on the part of the Company to be performed or observed; 
 (3) immediately
after giving effect to such transaction, no Default shall have occurred and be continuing; and 
 (4) the Company
has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, 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 6.02. Successor Substituted. Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of the properties and assets of the
Company substantially as an entirety in accordance with Section 6.01, the successor Person formed by such consolidation or into which the Company is merged or to which such 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
(if still in existence) shall be released from its obligations and covenants under this Indenture and the Notes. 
 ARTICLE 7

 Defaults and Remedies 
 SECTION 7.01. Events of Default. “Event of Default”, wherever used herein, means any one of the following events: 
 (1) default in the payment of any interest upon any Note for 30 days or more after becomes due; or 
  

 22 

 (2) default in the payment of the principal of any Note at its Stated
Maturity; or 
 (3) default in the performance, or breach, of any other covenant or warranty of the Company in
this Indenture, and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in
principal amount of the outstanding Notes 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 
 (4) failure to pay when due the principal of, or acceleration of, any Indebtedness for money borrowed by the Company or a
Subsidiary, which Indebtedness, individually or in the aggregate, is in excess of $25.0 million principal amount, without such Indebtedness having been discharged, or such acceleration having been rescinded or annulled, within a period of 10 days
after there shall have 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 Notes a written notice specifying such default
and requiring the Company to cause such Indebtedness to be discharged or cause such acceleration to be rescinded or annulled 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 or a Significant Subsidiary 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 or a Significant
Subsidiary a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or a Significant Subsidiary under any applicable Federal or State law, or
appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or a Significant Subsidiary or of any substantial part of their respective properties, or ordering the winding up or liquidation
of the affairs of the Company or a Significant Subsidiary, 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 60 consecutive days; or 
 (6) the commencement by the Company or a Significant Subsidiary 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 either the Company or a Significant Subsidiary to the entry of a decree or
order for relief in respect of the Company or a Significant Subsidiary 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

  

 23 

 
or proceeding against either the Company or a Significant Subsidiary, or the filing by either the Company or a Significant Subsidiary of a petition or answer or consent seeking reorganization or
relief under any applicable Federal or State law, or the consent by either the Company or a Significant Subsidiary 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 a Significant Subsidiary or of any substantial part of their respective properties, or the making by either the Company or a Significant Subsidiary of an assignment for the benefit of
creditors, or the admission by either the Company or a Significant Subsidiary in writing of an inability to pay the debts of either the Company or a Significant Subsidiary generally as they become due, or the taking of corporate action by the
Company or a Significant Subsidiary in furtherance of any such action. 
 SECTION 7.02. Acceleration of Maturity; Rescission and
Annulment. If an Event of Default (other than an Event of Default specified in Section 7.01(5) or 7.01(6)) shall have occurred and is continuing, then in every such case, either the Trustee or the Holders of not less than 25% in principal
amount of the outstanding Notes may declare the principal of all the Notes 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 shall become
immediately due and payable. If an Event of Default specified in Section 7.01(5) or 7.01(6) shall have occurred, the principal of all the Notes shall automatically, and without any declaration or other action on the part of the Trustee or any
Holder, become immediately due and payable. 
 At any time after such a declaration of acceleration 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 7 provided, the Holders of not less than a majority in principal amount of the outstanding Notes, 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 Notes, 
 (B) the principal of any Notes which have become due otherwise than by such declaration of acceleration and interest thereon
at the rate borne by the Notes, 
 (C) to the extent that payment of such interest is lawful, interest upon
overdue interest at the rate borne by the Notes, 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 
  

 24 

 (2) all Events of Default, other than the non-payment of the principal of Notes which have
become due solely by such declaration of acceleration, have been cured or waived as provided in Section 7.06. 
 No such rescission shall
affect any subsequent default or impair any right consequent thereon. 
 SECTION 7.03. Collection of Indebtedness and Suits for
Enforcement by Trustee. If 
 (1) default is made in the payment of any interest on any Note when such interest becomes due and
payable and such default continues for a period of 30 days, or 
 (2) default is made in the payment of the principal of any
Note at the Stated Maturity thereof, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount then due and payable on such Notes for principal and interest, and, to the
extent that payment of such interest shall be legally enforceable, interest on any overdue principal and on any overdue interest, at the rate borne by the Notes, 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. 
 If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders 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 7.04. 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 7.05. Control by Holders. The Holders of not less than a majority in principal amount
of the Notes may direct the time, method and place of conducting any proceedings for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee; provided, however, that the Trustee may refuse to follow any
direction that conflicts with law or this Indenture or, subject to Section 7.01 of the Base Indenture, that the Trustee determines is unduly prejudicial to the rights of other Noteholders or would involve the Trustee in personal liability. The
Trustee may take any

  

 25 

 
other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it
by such requesting Holders in its sole discretion against all losses and expenses caused by taking or not taking such action. 
 SECTION 7.06. Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the outstanding Notes may on behalf of the Holders of all the Notes waive any past default hereunder and its consequences, except a
default 
 (1) in the payment of the principal of or interest on any Note, or 
 (2) in respect of a covenant or provision hereof which under Article 8 cannot be modified or amended without the consent of the Holder of
each Outstanding Note affected. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
 ARTICLE 8 
 Amendments 
 SECTION 8.01. Without Consent of Holders. The Company and the Trustee may amend this Indenture or the Notes without notice to or consent of
any Note holder: 
 (1) to cure any ambiguity, omission, defect or inconsistency; 
 (2) to comply with Article 6; 
 (3) to provide for uncertificated Notes in addition to or in place of certificated Notes; provided, however, that the uncertificated Notes are issued in registered form for purposes of Section 163(f)
of the Code or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code; 
 (4) to add guarantees with respect to the Notes; 
 (5) to secure the Notes; 
 (6) to add to the covenants of the Company for the benefit of the Holders or to surrender any right or power herein conferred
upon the Company; 
 (7) to comply with any requirements of the SEC in connection with qualifying, or maintaining
the qualification of, this Indenture under the TIA; or 
  

 26 

 (8) to make any change that does not adversely affect the rights of any
Noteholder. 
 After an amendment under this Section becomes effective, the Company shall mail to Noteholders a notice briefly
describing such amendment. The failure to give such notice to all Noteholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section. 
 SECTION 8.02. With Consent of Holders. The Company and the Trustee may amend this Indenture or the Notes without notice to any Noteholder
but with the written consent of the Holders of at least a majority in principal amount of the Notes then outstanding (including consents obtained in connection with a tender offer or exchange for the Notes). However, without the consent of each
Noteholder affected thereby, an amendment may not: 
 (1) reduce the amount of Notes whose Holders must consent
to an amendment; 
 (2) reduce the rate of or extend the time for payment of interest on any Note; 
 (3) reduce the principal of or extend the Stated Maturity of any Note; 
 (4) reduce the amount payable upon the redemption of any Note or change the time at which any Note may be redeemed in
accordance with Article 3; 
 (5) reduce the amount payable upon a repurchase at the option of Holders or
adversely affect the repurchase rights of the Holders as described in Article 4; 
 (6) make any Note payable in
money other than that stated in the Note; 
 (7) impair the right of any Holder to receive payment of principal
of and interest on such Holder’s Notes on or after the Stated Maturity therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; or 
 (8) make any change in Section 7.06 or the second sentence of this Section. It shall not be necessary for the consent of
the Holders under this Section to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment under this Section becomes effective, the Company shall mail to Noteholders a notice briefly describing such amendment. The failure to give such notice to all Noteholders, or any defect
therein, shall not impair or affect the validity of an amendment under this Section. 
  

 27 

 SECTION 8.03. Compliance with Trust Indenture Act. Every amendment to this Second
Supplemental Indenture or the Notes shall comply with the TIA as then in effect. 
 SECTION 8.04. Revocation and Effect of
Consents and Waivers. A consent to an amendment or a waiver by a Holder of a Note shall bind the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting Holder’s Note, even if
notation of the consent or waiver is not made on the Note. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Note or portion of the Note if the Trustee receives the notice of revocation before
the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every Noteholder. An amendment or waiver becomes effective upon the execution of such amendment or waiver by the Trustee. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Noteholders entitled to give their
consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Noteholders at such record
date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record date.
No such consent shall be valid or effective for more than 120 days after such record date. 
 SECTION 8.05. Notation on or
Exchange of Notes. If an amendment changes the terms of a Note, the Trustee may require the Holder of the Note to deliver it to the Trustee. The Trustee may place an appropriate notation on the Note regarding the changed terms and return it to the
Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the appropriate notation or to issue
a new Note shall not affect the validity of such amendment. 
 SECTION 8.06. Trustee To Sign Amendments. The Trustee shall sign
any amendment authorized pursuant to this Article 8 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee, in which case the Trustee shall not be required to sign such amendment. In signing such
amendment the Trustee shall be entitled to receive indemnity reasonably satisfactory to it and to receive, and (subject to Section 7.01 of the Base Indenture) shall be fully protected in relying upon, an Officers’ Certificate and an
Opinion of Counsel stating that such amendment is authorized or permitted by this Indenture. 
 SECTION 8.07. Payment for
Consent. Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such
consent, waiver or agreement. 
  

 28 

 ARTICLE 9 
 Discharge of Indenture; Defeasance 
 SECTION 9.01. Defeasance. (a) Subject to
Sections 9.01(b) and 9.02, the Company at any time may terminate (i) all its obligations under the Notes and this Second Supplemental Indenture (“legal defeasance option”) or (ii) its obligations under Sections 5.01, 5.03, 5.04
and 5.05, and the operation of Sections 6.01(3), 6.01(4), 7.01(3), 7.01(4), 7.01(5) and 7.01(6) (but, in the case of Sections 7.01(5) and (6), with respect only to Significant Subsidiaries) (“covenant defeasance option”). The Company may
exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. 
 If the Company
exercises its legal defeasance option, payment of the Notes may not be accelerated because of an Event of Default with respect thereto. If the Company exercises its covenant defeasance option, payment of the Notes may not be accelerated because of
failure to comply with Sections 6.01(3) or 6.01(4) or because of an Event of Default specified in Sections 7.01(3), 7.01(4), 7.01(5) and 7.01(6) (but, in the case of Sections 7.01(5) and (6), with respect only to Significant Subsidiaries).

 Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in
writing the discharge of those obligations that the Company terminates. 
 (b) Notwithstanding clauses (a) above, the
Company’s obligations pursuant to Sections 2.02, 2.03, 2.04, 2.05, 2.06 and this Article 9 shall survive until the Notes have been paid in full. Thereafter, the Company’s obligations pursuant to Sections 9.04 and 9.05 shall survive.

 SECTION 9.02. Conditions to Defeasance. The Company may exercise its legal defeasance option or its covenant defeasance
option only if: 
 (1) the Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of and interest on the Notes to maturity or redemption, as the case may be; 
 (2) the Company delivers to the Trustee a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S.
Government Obligations plus any deposited money without investment shall provide cash at such times and in such amounts as shall be sufficient to pay principal and interest when due on all the Notes to maturity or redemption, as the case may be;

  

 29 

 (3) 123 days pass after the deposit is made and during the 123-day period no
Default specified in Sections 7.01(5) or (6) with respect to the Company occurs which is continuing at the end of the period; 
 (4) the deposit shall not constitute a default under any other agreement binding on the Company; 
 (5) the Company delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting from the deposit does not constitute, or is qualified as, a regulated investment company under the
Investment Company Act of 1940; 
 (6) the Company shall have delivered to the Trustee an Opinion of Counsel to
the effect that the Noteholders shall not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and shall be subject to Federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such defeasance had not occurred, and, in the case of legal defeasance only, such Opinion of Counsel shall confirm that it is based upon (i) the Company’s receipt from, or a publication by, a ruling by Internal
Revenue Service, or (ii) a change in the applicable Federal income tax law subsequent to the date of this Second Supplemental Indenture; and 
 (7) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Notes as contemplated by
this Article 9 have been complied with. 
 Before or after a deposit, the Company may make arrangements satisfactory to the
Trustee for the redemption of Notes at a future date in accordance with Article 3. 
 SECTION 9.03. Application of Trust Money.
The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article 9. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this
Indenture to the payment of principal of and interest on the Notes. 
 SECTION 9.04. Repayment to Company. The Trustee and the
Paying Agent shall promptly turn over to the Company upon request any excess money or securities held by them at any time. 
 Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter,
Noteholders entitled to the money must look to the Company for payment as general creditors. 
 SECTION 9.05. Indemnity for
Government Obligations. The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government
Obligations. 
  

 30 

 SECTION 9.06. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or
U.S. Government Obligations in accordance with this Article 9 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Company’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to this Article 9 until such time as the Trustee or Paying Agent is permitted to apply all such money or U.S.
Government Obligations in accordance with this Article 9; provided, however, that, if the Company has made any payment of interest on or principal of any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the
rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE 10 
 Miscellaneous 
 SECTION 10.01. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with another provision which
is required to be included in this Indenture by the TIA, the required provision shall control. 
 SECTION 10.02. Notices. Any
notice or communication shall be in writing and delivered in person or mailed by first-class mail addressed as follows: 
 if to
the Company: 
 SEACOR Holdings Inc. 
 460 Park Avenue 
 12th Floor 
 New York, NY 10022 
 Fax:. (212) 582-8522 
 Attention of General Counsel 
 with a copy to: 
 Weil, Gotshal & Manges LLP 
 767 Fifth Avenue New York, NY 10153 
 Fax:. (212) 310-8007 
 Attention of David Zeltner, Esq. 
  

 31 

 if to the Trustee: 
 U.S. Bank National Association 
 60 Livingston Avenue 
 EP-MN-WS3C 
 St. Paul, MN 55107-2292 
 Attention: Seacor Holdings, Inc. Administrator 
 The Company or the Trustee by notice to the other may designate
additional or different addresses for subsequent notices or communications. 
 Any notice or communication mailed to a
Noteholder shall be mailed to the Noteholder at the Noteholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
 Failure to mail a notice or communication to a Noteholder or any defect in it shall not affect its sufficiency with respect to other
Noteholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 SECTION 10.03. Communication by Holders with Other Holders. Noteholders may communicate pursuant to TIA Section 312(b) with other Noteholders with respect to their rights under this Indenture or the
Notes. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c). 
 SECTION
10.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take or refrain from taking any action under this Indenture, the Company shall furnish to the Trustee: 
 (1) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee stating that, in the opinion
of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION 10.05. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or
condition provided for in this Indenture shall include: 
 (1) a statement that the individual making such
certificate or opinion has read such covenant or condition; 
 (2) a brief statement as to the nature and scope
of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  

 32 

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

 SECTION 10.06. When Notes Disregarded. In determining whether the Holders of the required principal amount of Notes have
concurred in any direction, waiver or consent, Notes owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company shall be disregarded and deemed not to be
outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which the Trustee knows are so owned shall be so disregarded. Also, subject to the
foregoing, only Notes outstanding at the time shall be considered in any such determination. 
 SECTION 10.07. Rules by Trustee,
Paying Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting of Noteholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 SECTION 10.08. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or a day on which banking institutions are not required
to be open in the State of New York. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal
Holiday, the record date shall not be affected. 
 SECTION 10.09. Governing Law. This Indenture and the Notes shall be governed
by, and construed in accordance with, the laws of the State of New York. 
 SECTION 10.10. No Recourse Against Others. A
director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Notes or this Indenture or for any claim based on, in respect of or by reason of such obligations or their
creation. By accepting a Note, each Noteholder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Notes. 
 SECTION 10.11. Successors. All agreements of the Company in this Indenture and the Notes shall bind its successors. All agreements of the
Trustee in this Indenture shall bind its successors. 
 SECTION 10.12. Multiple Originals. The parties may sign any number of
copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 
  

 33 

 SECTION 10.13. Table of Contents; Headings. The table of contents, cross-reference sheet and
headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
  

 34 

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

			
	SEACOR HOLDINGS INC.,
		
	by	 	/s/ Dick Fagerstal
		 	Name:  Dick Fagerstal
		 	Title: Senior Vice President, Corporate Development & Finance
	
	U.S. BANK NATIONAL ASSOCIATION,
		
	by	 	/s/ Richard Prokosch
		 	Name: Richard Prokosch
		 	Title: Vice President

 Exhibit A 
 [FORM OF FACE OF NOTE] 
 [Global Note Legend] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  

 A-1 

			
	No. [    ]	 	CUSIP No.: 811904AK7

 7.375% Senior Notes Due 2019 
 SEACOR HOLDINGS INC., a Delaware corporation, promises to pay to Cede & Co., or its registered assigns, the principal sum of
[             Million] Dollars ($[            ],000,000) on October 1, 2019. 
 Interest Payment Dates: April 1 and October 1, commencing April 1, 2010. 
 Record Dates: March 15 and September 15. 
 Additional provisions of this Note are set forth on the other side of this Note. 
  

			
	SEACOR Holdings Inc.,
		
	by:	 	 
		 	Name:
		 	Title:
		
	by:	 	 
		 	Name:
		 	Title:

 Dated: [            ] 

TRUSTEE’S CERTIFICATE OF 
 AUTHENTICATION

 U.S. BANK NATIONAL ASSOCIATION, 
 as Trustee, certifies that this 
 is one of the Notes referred 

			
	to in the Indenture.
		
	by:	 	 
		 	Authorized Signatory

  

 A-2 

 [FORM OF REVERSE SIDE OF NOTE] 
 7.375% Senior Notes Due 2019 
 1. INTEREST. SEACOR Holdings Inc., a Delaware
corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above.
The Company shall pay interest semiannually on April 1 and October 1 of each year, commencing April 1, 2010. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been
paid, from September 24, 2009. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
 2.
METHOD OF PAYMENT. The Company shall pay interest on the Notes (except defaulted interest) to the Persons who are registered holders of Notes at the close of business on the March 15 or September 15 next preceding the interest payment date
even if Notes are canceled after the record date and on or before the interest payment date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company shall pay principal and interest in money of the United States
that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Notes (including principal, premium and interest) shall be made by wire transfer of immediately available funds to the accounts specified
by the Holders thereof or, if no such account is specified, by mailing a check to the registered address of each Holder thereof. 
 3. PAYING AGENT AND REGISTRAR. Initially, U.S. Bank National Association (formerly known as U.S. Bank Trust National Association), a national banking association (“Trustee”), shall act as Paying Agent and Registrar. The Company
may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company or any of its domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Registrar or co-registrar. 
 4. INDENTURE. The Company issued the Notes under the Second Supplemental Indenture, dated as of September 24, 2009, to a Base Indenture
dated as of January 10, 2001, as amended (collectively, the “Indenture”), between the Company and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. ss.ss. 77aaa-77bbbb) as in effect on the date of the Base Indenture (the “Act”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are
subject to all such terms, and Noteholders are referred to the Indenture and the Act for a statement of those terms. 
 5.
OPTIONAL REDEMPTION. The Notes shall be redeemable at any time, at the option of the Company, in whole or from time to time in part, upon not less than 30 and not more than 60 days’ notice mailed to each Holder to be redeemed at the
Holder’s

  

 A-3 

 
address appearing in the books of the Registrar, on any date prior to maturity (the “Redemption Date”) at a price equal to 100% of the principal amount thereof plus accrued interest to
the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the Redemption Date) plus a Make-Whole Premium, if any (the “Redemption
Price”). In no event shall the Redemption Price ever be less than 100% of the principal amount of the Notes plus accrued interest to the Redemption Date. 
 The amount of the Make-Whole Premium with respect to any Note (or portion thereof) to be redeemed shall be equal to the excess, if any, of: 
 (1) the sum of the present values, calculated as of the Redemption Date, of: 
 (a) each interest payment that, but for such redemption, would have been payable on the Note (or portion thereof) being
redeemed on each interest payment date occurring after the Redemption Date (excluding any accrued interest for the period prior to the Redemption Date); and 
 (b) The principal amount that, but for such redemption, would have been payable at the final maturity of the Note (or portion
thereof) being redeemed; over 
 (2) the principal amount of the Note (or portion thereof) being redeemed. 
 The present values of interest and principal payments referred to in clause (1) above shall be determined in accordance with generally
accepted principles of financial analysis. Such present values shall be calculated by discounting the amount of each payment of interest or principal from the date that each such payment would have been payable, but for the redemption, to the
Redemption Date at a discount rate equal to the Treasury Yield (as defined below) plus 50 basis points. 
 The Make-Whole
Premium shall be calculated by an independent investment banking institution of national standing appointed by the Company; provided, that if the Company fails to make such appointment at least 45 Business Days prior to the Redemption Date, or if
the institution so appointed is unwilling or unable to make such calculation, such calculation shall be made by J.P. Morgan Securities Inc. or, if such firm is unwilling or unable to make such calculation, by an independent investment banking
institution of national standing appointed by the Trustee (in any such case, an “Independent Investment Banker”). 
 For purposes of determining the Make-Whole Premium, “Treasury Yield” means a rate of interest per annum equal to the weekly average yield to maturity of United States Treasury Notes that have a constant maturity that corresponds
to the remaining term to maturity of the Notes, calculated to the nearest 1/12th of a year (the “Remaining Term”). The Treasury Yield shall be determined as of the third business day immediately preceding the applicable Redemption Date.

  

 A-4 

 The weekly average yields of United States Treasury Notes shall be determined by reference
to the most recent statistical release published by the Federal Reserve Bank of New York and designated “H.15(519) Selected Interest Rates” or any successor release (the “H.15 Statistical Release”). If the H.15 Statistical
Release sets forth a weekly average yield for United States Treasury Notes having a constant maturity that is the same as the Remaining Term, then the Treasury Yield shall be equal to such weekly average yield. In all other cases, the Treasury Yield
shall be calculated by interpolation, on a straight-line basis, between the weekly average yields on the United States Treasury Notes that have a constant maturity closest to and greater than the Remaining Term and the United States Treasury Notes
that have a constant maturity closest to and less than the Remaining Term and the United States Treasury Notes that have a constant maturity closest to and less than the Remaining Term (in each case as set forth in the H.15 Statistical Release). Any
weekly average yields so calculated by interpolation shall be rounded to the nearest 1/100th of 1%, with any figure of 1/200th of 1% or above being rounded upward. If weekly average yields for United States Treasury Notes are not available in the
H.15 Statistical Release or otherwise, then the Treasury Yield shall be calculated by interpolation of comparable rates selected by the Independent Investment Banker. 
 In the case of any partial redemption, selection of the Notes for redemption shall be made by the Trustee on a pro rata basis, by lot or by such other method as the Trustee in its sole discretion shall
deem to be fair and appropriate, although no Note of $2,000 in original principal amount or less shall be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption relating to such Note shall state the portion of the
principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof shall be issued in the name of the Holder thereof upon cancellation of the original Note. 
 Notice of redemption shall be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of Notes to be
redeemed at his registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000. If money sufficient to pay the Redemption Price of and accrued interest on all Notes (or portions thereof)
to be redeemed on the Redemption Date is deposited with the Paying Agent on or before the Redemption Date and certain other conditions are satisfied, on and after such date interest ceases to accrue on such Notes (or such portions thereof) called
for redemption. 
 6. REPURCHASE AT THE OPTION OF HOLDERS UPON A CHANGE OF CONTROL. Upon the occurrence of a Change of Control
Repurchase Event, unless all Notes have been called for redemption pursuant to paragraph 5 of this Note, each Holder of the Notes shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of
$1,000 in excess thereof) of such Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus accrued and unpaid interest thereon, if any, to the date of repurchase. “Change of Control
Repurchase Event” shall mean the occurrence of both a Change of Control and a Below Investment Grade Rating Event, as such terms are defined in the Indenture. The offer to repurchase upon a Change of Control Repurchase Event shall be made
subject to certain conditions in accordance with the terms specified in the Indenture. 
  

 A-5 

 7. DENOMINATIONS; TRANSFER; EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and whole multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or
transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the
portion of the Note not to be redeemed) or any Notes for a period of 15 days before a selection of Notes to be redeemed or 15 days before an interest payment date. 
 8. PERSONS DEEMED OWNERS. The registered Holder of this Note may be treated as the owner of it for all purposes. 
 9. UNCLAIMED MONEY. If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an
abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment. 
 10. DISCHARGE AND DEFEASANCE. Subject to certain conditions, the Company at any time may terminate some or all of its obligations under the Notes and the Indenture if the Company deposits with the Trustee
money or U.S. Government Obligations for the payment of principal and interest on the Notes to redemption or maturity, as the case may be. 
 11. AMENDMENT, WAIVER. Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may be amended with the written consent of the Holders of at least a majority in
principal amount outstanding of the Notes and (ii) any default or noncompliance with any provision may be waived with the written consent of the Holders of a majority in principal amount outstanding of the Notes. Subject to certain exceptions
set forth in the Indenture, without the consent of any Noteholder, the Company and the Trustee may amend the Indenture or the Notes to: cure any ambiguity, omission, defect or inconsistency, to comply with Article 6 of the Indenture, provide for
uncertificated Notes in addition to or in place of certificated Notes, add guarantees with respect to the Notes, secure the Notes, add additional covenants or surrender rights and powers conferred on the Company, comply with any request of the SEC
in connection with qualifying the Indenture under the Act, or make any change that does not adversely affect the rights of any Noteholder. 
 12. DEFAULTS AND REMEDIES. Under the Indenture, Events of Default include (i) default in the payment of any interest upon any Note for 30 days or more after becomes due; (ii) default in the
payment of the principal of any Note at its Stated

  

 A-6 

 
Maturity; (iii) default in the performance, or breach, of any other covenant or warranty of the Company in the Indenture, and continuance of such default or breach for a period of 60 days
after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding Notes a written notice specifying such default or
breach and requiring it to be remedied and stating that such notice is a “Notice of Default” under the Indenture; (iv) failure to pay when due the principal of, or acceleration of, any Indebtedness for money borrowed by the Company or
a Subsidiary, which Indebtedness, individually or in the aggregate, is in excess of $25.0 million principal amount, without such Indebtedness having been discharged, or such acceleration having been rescinded or annulled, within a period of 10 days
after there shall have 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 Notes a written notice specifying such default
and requiring the Company to cause such Indebtedness to be discharged or cause such acceleration to be rescinded or annulled and stating that such notice is a “Notice of Default” under the Indenture; and (v) certain events of
bankruptcy, insolvency or reorganization of the Company or a Significant Subsidiary. 
 If an Event of Default occurs and is
continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due and payable immediately. Certain events of bankruptcy or insolvency are Events of Default which shall result in the Notes
being due and payable immediately upon the occurrence of such Events of Default. 
 Noteholders may not enforce the Indenture or
the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Notes unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in principal amount of the Notes
may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Noteholders notice of any continuing Default (except a Default in payment of principal or interest) if it determines that withholding notice is in the
interest of the Holders. 
 13. TRUSTEE DEALINGS WITH THE COMPANY. Subject to certain limitations imposed by the Act, the
Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or
its Affiliates with the same rights it would have if it were not Trustee. 
 14. NO RECOURSE AGAINST OTHERS. A director,
officer, employee or stockholder, as such, of the Company or the Trustee shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or
their creation. By accepting a Note, each Noteholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 
  

 A-7 

 15. AUTHENTICATION. This Note shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Note. 
 16.
ABBREVIATIONS. Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in
common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
 17. GOVERNING LAW. THIS SECURITY SHALL BE GOVERNED BY,
AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 18. CUSIP NUMBERS. Pursuant to a recommendation
promulgated by the Committee on Uniform Note Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Noteholders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Company shall furnish to any Noteholder upon written request and without charge to the Noteholder a copy of the Indenture which has in
it the text of this Note in larger type. Requests may be made to: 
 SEACOR Holdings Inc. 
 460 Park Avenue 
 12th Floor 
 New York, NY 10022 
 Attention of General Counsel 
  

 A-8 

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this Note to

 (Print or type assignee’s name, address and zip code) 
 (Insert assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint
                                 agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him. 
  

									
	Date:	 	 	 		 	Your Signature:	 	 

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

 A-9 

 [TO BE ATTACHED TO GLOBAL NOTE] 
 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 
 The
initial principal amount of this Global Note is $[            ]. The following increases or decreases in this Global Note have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease in
Principal Amount of
this Global Note	  	Amount of Increase in
Principal Amount of
this Global Note	  	Principal Amount of
this Global Note
following such decrease
or increase	  	Signature of
authorized officer of
Trustee or Notes
Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

 A-10Form of Indenture

 Exhibit 4.7 
  
  
 TRANSCEND SERVICES, INC. 
  
  
 INDENTURE 
 Dated as of
                    , 20     
  
  
 [Name of Trustee] 
 Trustee 
  
  

 TABLE OF CONTENTS 
  

					
	 	    	 	  	Page
	 ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	2
	 Section 1.1.
	    	Definitions	  	2
	 Section 1.2.
	    	Other Definitions	  	7
	 Section 1.3.
	    	Incorporation by Reference of Trust Indenture Act	  	7
	 Section 1.4.
	    	Rules of Construction	  	8
	 Section 1.5.
	    		  	8
		
	 ARTICLE II. THE SECURITIES
	  	8
	 Section 2.1.
	    	Issuable in Series	  	8
	 Section 2.2.
	    	Establishment of Terms of Series of Securities	  	8
	 Section 2.3.
	    	Execution and Authentication	  	10
	 Section 2.4.
	    	Registrar and Paying Agent	  	11
	 Section 2.5.
	    	Paying Agent to Hold Money in Trust	  	12
	 Section 2.6.
	    	Securityholder Lists	  	12
	 Section 2.7.
	    	Transfer and Exchange	  	13
	 Section 2.8.
	    	Mutilated, Destroyed, Lost and Stolen Securities	  	13
	 Section 2.9.
	    	Outstanding Securities	  	14
	 Section 2.10.
	    	Treasury Securities	  	14
	 Section 2.11.
	    	Temporary Securities	  	14
	 Section 2.12.
	    	Cancellation	  	15
	 Section 2.13.
	    	Defaulted Interest	  	15
	 Section 2.14.
	    	Global Securities	  	15
	 Section 2.15.
	    	CUSIP Numbers	  	16
		
	 ARTICLE III. REDEMPTION
	  	17
	 Section 3.1.
	    	Notice to Trustee	  	17
	 Section 3.2.
	    	Selection of Securities to be Redeemed	  	17
	 Section 3.3.
	    	Notice of Redemption	  	17
	 Section 3.4.
	    	Effect of Notice of Redemption	  	18
	 Section 3.5.
	    	Deposit of Redemption Price	  	18
	 Section 3.6.
	    	Securities Redeemed in Part	  	18
		
	 ARTICLE IV. COVENANTS
	  	18
	 Section 4.1.
	    	Payment of Principal and Interest	  	18
	 Section 4.2.
	    	SEC Reports	  	18
	 Section 4.3.
	    	Compliance Certificate	  	19
	 Section 4.4.
	    	Stay, Extension and Usury Laws	  	19
	 Section 4.5.
	    	Corporate Existence	  	19
		
	 ARTICLE V. SUCCESSORS
	  	19
	 Section 5.1.
	    	When Company May Merge, Etc	  	19

  

 i 

					
	 Section 5.2.
	    	Successor Corporation Substituted	  	20
		
	 ARTICLE VI. DEFAULTS AND REMEDIES
	  	20
	 Section 6.1.
	    	Events of Default	  	20
	 Section 6.2.
	    	Acceleration of Maturity; Rescission and Annulment	  	21
	 Section 6.3.
	    	Collection of Indebtedness and Suits for Enforcement by Trustee	  	22
	 Section 6.4.
	    	Trustee May File Proofs of Claim	  	23
	 Section 6.5.
	    	Trustee May Enforce Claims Without Possession of Securities	  	23
	 Section 6.6.
	    	Application of Money Collected	  	24
	 Section 6.7.
	    	Limitation on Suits	  	24
	 Section 6.8.
	    	Unconditional Right of Holders to Receive Principal and Interest	  	25
	 Section 6.9.
	    	Restoration of Rights and Remedies	  	25
	 Section 6.10.
	    	Rights and Remedies Cumulative	  	25
	 Section 6.11.
	    	Delay or Omission Not Waiver	  	25
	 Section 6.12.
	    	Control by Holders	  	25
	 Section 6.13.
	    	Waiver of Past Defaults	  	26
	 Section 6.14.
	    	Undertaking for Costs	  	26
		
	 ARTICLE VII. TRUSTEE
	  	26
	 Section 7.1.
	    	Duties of Trustee	  	26
	 Section 7.2.
	    	Rights of Trustee	  	28
	 Section 7.3.
	    	Individual Rights of Trustee	  	28
	 Section 7.4.
	    	Trustee’s Disclaimer	  	28
	 Section 7.5.
	    	Notice of Defaults	  	28
	 Section 7.6.
	    	Reports by Trustee to Holders	  	29
	 Section 7.7.
	    	Compensation and Indemnity	  	29
	 Section 7.8.
	    	Replacement of Trustee	  	30
	 Section 7.9.
	    	Successor Trustee by Merger, Etc	  	31
	 Section 7.10.
	    	Eligibility; Disqualification	  	31
	 Section 7.11.
	    	Preferential Collection of Claims Against Company	  	31
		
	 ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE
	  	31
	 Section 8.1.
	    	Satisfaction and Discharge of Indenture	  	31
	 Section 8.2.
	    	Application of Trust Funds; Indemnification	  	32
	 Section 8.3.
	    	Legal Defeasance of Securities of any Series	  	33
	 Section 8.4.
	    	Covenant Defeasance	  	34
	 Section 8.5.
	    	Repayment to Company	  	35
	 Section 8.6.
	    	Reinstatement	  	35
		
	 ARTICLE IX. AMENDMENTS AND WAIVERS
	  	36
	 Section 9.1.
	    	Without Consent of Holders	  	36
	 Section 9.2.
	    	With Consent of Holders	  	37
	 Section 9.3.
	    	Limitations	  	37
	 Section 9.4.
	    	Compliance with Trust Indenture Act	  	38
	 Section 9.5.
	    	Revocation and Effect of Consents	  	38
	 Section 9.6.
	    	Notation on or Exchange of Securities	  	38
	 Section 9.7.
	    	Trustee Protected	  	38

  

 ii 

					
		
	 ARTICLE X. MISCELLANEOUS
	  	38
	 Section 10.1.
	    	Trust Indenture Act Controls	  	38
	 Section 10.2.
	    	Notices	  	39
	 Section 10.3.
	    	Communication by Holders with Other Holders	  	39
	 Section 10.4.
	    	Certificate and Opinion as to Conditions Precedent	  	39
	 Section 10.5.
	    	Statements Required in Certificate or Opinion	  	40
	 Section 10.6.
	    	Rules by Trustee and Agents	  	40
	 Section 10.7.
	    	Legal Holidays	  	40
	 Section 10.8.
	    	No Recourse Against Others	  	40
	 Section 10.9.
	    	Counterparts	  	41
	 Section 10.10.
	    	Governing Laws	  	41
	 Section 10.11.
	    	No Adverse Interpretation of Other Agreements	  	41
	 Section 10.12.
	    	Successors	  	41
	 Section 10.13.
	    	Severability	  	41
	 Section 10.14.
	    	Table of Contents, Headings, Etc	  	41
	 Section 10.15.
	    	Securities in a Foreign Currency or in ECU	  	41
	 Section 10.16.
	    	Judgment Currency	  	42
		
	 ARTICLE XI. SINKING FUNDS
	  	43
	 Section 11.1.
	    	Applicability of Article	  	43
	 Section 11.2.
	    	Satisfaction of Sinking Fund Payments with Securities	  	43
	 Section 11.3.
	    	Redemption of Securities for Sinking Fund	  	44
		
	 ARTICLE XII. SUBORDINATION OF SECURITIES
	  	44
	 Section 12.1.
	    	Agreement of Subordination	  	44
	 Section 12.2.
	    	Payments to Holders	  	44
	 Section 12.3.
	    	Subrogation of Securities	  	47
	 Section 12.4.
	    	Authorization to Effect Subordination	  	48
	 Section 12.5.
	    	Notice to Trustee	  	48
	 Section 12.6.
	    	Trustee’s Relation to Senior Indebtedness	  	49
	 Section 12.7.
	    	No Impairment of Subordination	  	49
	 Section 12.8.
	    	Article Applicable to Paying Agents	  	50
	 Section 12.9.
	    	Senior Indebtedness Entitled to Rely	  	50

  

 iii 

 TRANSCEND SERVICES, INC. FORM S-3 
 Reconciliation and tie between Trust Indenture Act of 1939 and 
 Indenture, dated as of
                    , 20     
  

						
	Section 310(a)	(1) 	 		  	7.10
	(a)	(2) 	 		  	7.10
	(a)	(3) 	 		  	Not Applicable
	(a)	(4) 	 		  	Not Applicable
	(a)	(5) 	 		  	7.10
	  	(b) 	 		  	7.10
	Section 311	(a) 	 		  	7.11
	  	(b) 	 		  	7.11
	  	(c) 	 		  	Not Applicable
	Section 312	(a) 	 		  	2.6
	  	(b) 	 		  	10.3
	  	(c) 	 		  	10.3
	Section 313	(a) 	 		  	7.6
	(b)	(1) 	 		  	7.6
	(b)	(2) 	 		  	7.6
	(c)	(1) 	 		  	7.6
	  	(d) 	 		  	7.6
	Section 314	(a) 	 		  	4.2, 10.5
	  	(b) 	 		  	Not Applicable
	(c)	(1) 	 		  	10.4
	(c)	(2) 	 		  	10.4
	(c)	(3) 	 		  	Not Applicable
	  	(d) 	 		  	Not Applicable
	  	(e) 	 		  	10.5
	  	(f) 	 		  	Not Applicable
	Section 315	(a) 	 		  	7.1
	  	(b) 	 		  	7.5
	  	(c) 	 		  	7.1
	  	(d) 	 		  	7.1
	  	(e) 	 		  	6.14
	Section 316	(a) 	 		  	2.10
	(a)(1)	(A) 	 		  	6.12
	(a)(1)	(B) 	 		  	6.13
	  	(b) 	 		  	6.8
	Section 317(a)	(1) 	 		  	6.3
	(a)	(2) 	 		  	6.4
	  	(b) 	 		  	2.5
	Section 318	(a) 	 		  	10.1

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

 Indenture dated as of
                    , 20     between Transcend Services, Inc., a Delaware corporation (“Company”), and [Name of
Trustee], a                      (“Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture. 
 ARTICLE I. 
 DEFINITIONS AND INCORPORATION BY
REFERENCE 
 Section 1.1.    Definitions. 
 “Additional Amounts” means any additional amounts that are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed
on Holders specified herein or therein and that are owing to such Holders. 
 “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” (including, with correlative meanings, the terms
“controlled by” and “under common control with”), as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person,
whether through the ownership of voting securities or by agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent,
Service Agent or authenticating agent. 
 “Board of Directors” means the Board of Directors of the Company or any duly authorized
committee thereof. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the
Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee. 
 “Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a
particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York, New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
 “Capital Stock” means any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock.

 “Company” means the party named as such above until a successor replaces it and thereafter means the successor. 
 “Company Order” means a written order signed in the name of the Company by two Officers, one of whom must be the Company’s chief executive
officer, chief financial officer or principal accounting officer. 
  

 2 

 “Company Request” means a written request signed in the name of the Company by its Chairman of
the Board, a President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee. 
 “Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally administered. 
 “Default” means any event that is, or after notice or passage of time would be, an Event of Default. 
 “Depositary” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global
Securities, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with
respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series. 
 [INCLUDE THIS LANGUAGE
FOR SUBORDINATED SECURITIES... “Designated Senior Indebtedness” means any of our senior indebtedness that expressly provides that it is “designated senior indebtedness” for purposes of this Indenture (provided that the
instrument, agreement or other document creating or evidencing such Senior Indebtedness may place limitations and conditions on the right of such Senior Indebtedness to exercise the rights of Designated Senior Indebtedness).] 
 “Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon
declaration of acceleration of the maturity thereof pursuant to Section 6.2. 
 “Dollars” and “$” means the currency
of The United States of America. 
 “ECU” means the European Currency Unit as determined by the Commission of the European Union.

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Foreign Currency” means any currency or currency unit issued by a government other than the government of The United States of America.

 “Foreign Government Obligations” means with respect to Securities of any Series that are denominated in a Foreign Currency,
(i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by or acting as an
agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (i) or (ii), are not callable or redeemable at
the option of the issuer thereof. 
 “GAAP” means accounting principles generally accepted in the United States of America set
forth in the opinions and pronouncements of the Accounting Principles Board of the 

  

 3 

 
American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements
by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination. 
 “Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities,
issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee. 
 “Holder” or
“Securityholder” means a person in whose name a Security is registered. 
 [INCLUDE THIS LANGUAGE FOR SUBORDINATED
SECURITIES... “Indebtedness” means, with respect to any person, and without duplication, (a) all indebtedness, obligations and other liabilities (contingent or otherwise) of such person for borrowed money (including obligations
of the Company in respect of overdrafts, foreign exchange contracts, currency exchange agreements, interest rate protection agreements, and any loans or advances from banks, whether or not evidenced by notes or similar instruments) or evidenced by
bonds, debentures, notes or similar instruments (whether or not the recourse of the lender is to the whole of the assets of such person or to only a portion thereof) (other than any account payable or other accrued current liability or obligation
incurred in the ordinary course of business in connection with the obtaining of materials or services), (b) all reimbursement obligations and other liabilities (contingent or otherwise) of such person with respect to letters of credit, bank
guarantees or bankers’ acceptances, (c) all obligations and liabilities (contingent or otherwise) in respect of leases of such person required, in conformity with generally accepted accounting principles, to be accounted for as capitalized
lease obligations on the balance sheet of such person and all obligations and other liabilities (contingent or otherwise) under any lease or related document (including a purchase agreement) in connection with the lease of real property which
provides that such person is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a minimum residual value of the leased property to the lessor and the obligations of such person under such
lease or related document to purchase or to cause a third party to purchase such leased property, (d) all obligations of such person (contingent or otherwise) with respect to an interest rate or other swap, cap or collar agreement or other
similar instrument or agreement or foreign currency hedge, exchange, purchase or similar instrument or agreement, (e) all direct or indirect guaranties or similar agreements by such person in respect of, and obligations or liabilities
(contingent or otherwise) of such person to purchase or otherwise acquire or otherwise assure a creditor against loss in respect of indebtedness, obligations or liabilities of another person of the kind described in clauses (a) through (d),
(f) any indebtedness or other obligations described in clauses (a) through (e) secured by any mortgage, pledge, lien or other encumbrance existing on property which is owned or held by such person, regardless of whether the
indebtedness or other obligation secured thereby shall have been assumed by such person and (g) any and all refinancings, replacements, deferrals, renewals, extensions and refundings of, or amendments, modifications or supplements to, any
indebtedness, obligation or liability of the kind described in clauses (a) through (f).] 
  

 4 

 “Indenture” means this Indenture as amended or supplemented from time to time and shall include
the form and terms of particular Series of Securities established as contemplated hereunder. 
 “Interest” with respect to any
Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Maturity,” when
used with respect to any Security or installment of principal thereof, means the date on which the principal of such Security or such 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, notice of option to elect repayment or otherwise. 
 “Officer” means the
Chairman of the Board, any President, any Vice-President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Company. 
 “Officers’ Certificate” means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer.

 “Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee
of or counsel to the Company. 
 “Person” means any individual, corporation, partnership, joint venture, association, limited
liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security. 
 [INCLUDE THIS LANGUAGE FOR SUBORDINATED SECURITIES... “Representative” means the (a) indenture trustee or other trustee, agent
or representative for any Senior Indebtedness or (b) with respect to any Senior Indebtedness that does not have any such trustee, agent or other representative, (i) in the case of such Senior Indebtedness issued pursuant to an agreement
providing for voting arrangements as among the holders or owners of such Senior Indebtedness, any holder or owner of such Senior Indebtedness acting with the consent of the required persons necessary to bind such holders or owners of such Senior
Indebtedness and (ii) in the case of all other such Senior Indebtedness, the holder or owner of such Senior Indebtedness.] 
 “Responsible Officer” means any officer of the Trustee with direct responsibility for the administration of the indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate
trust matter is referred because of his or her knowledge of and familiarity with a particular subject. 
 “SEC” means the
Securities and Exchange Commission. 
 “Securities” means the debentures, notes or other debt instruments of the Company of any
Series authenticated and delivered under this Indenture. 
  

 5 

 [INCLUDE THIS LANGUAGE FOR SUBORDINATED SECURITIES... “Senior Indebtedness” means the
principal, premium, if any, interest, including any interest accruing after bankruptcy, and rent or termination payment on or other amounts due on our current or future Indebtedness, whether created, incurred, assumed, guaranteed or in effect
guaranteed by us, including any deferrals, renewals, extensions, refundings, amendments, modifications or supplements to the above. However, Senior Indebtedness does not include: (i) Indebtedness that expressly provides that it shall not be
senior in right of payment to the Securities or expressly provides that it is on the same basis or junior to the Securities; (ii) our indebtedness to any of our majority-owned subsidiaries; and (iii) the Securities.] 
 “Series” or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant
to Sections 2.1 and 2.2 hereof. 
 “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” of any specified person means any corporation, association or other business entity of which more than 50% of the total voting
power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or
more of the other Subsidiaries of that person or a combination thereof. 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S.
Code Sections 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such
amendment, the Trust Indenture Act as so amended. 
 “Trustee” means the person named as the “Trustee” in the first
paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is then a Trustee hereunder, and if at
any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series. 
 “U.S. Government Obligations” means securities that are (i) direct obligations of The United States of America for the payment of which
its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality of The United States of America the payment of which is unconditionally guaranteed as a full faith and
credit obligation by The United States of America, and which in the case of (i) and (ii) are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as
custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that
(except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by
such depository receipt. 
  

 6 

 Section 1.2.    Other Definitions. 
  

			
	 TERM
	  	DEFINED IN
SECTION
	 “Bankruptcy Law”
	  	6.1
	 “Custodian”
	  	6.1
	 “Event of Default”
	  	6.1
	 “Journal”
	  	10.15
	 “Judgment Currency”
	  	10.16
	 “Legal Holiday”
	  	10.7
	 “mandatory sinking fund payment”
	  	11.1
	 “Market Exchange Rate”
	  	10.15
	 “New York Banking Day”
	  	10.16
	 “optional sinking fund payment”
	  	11.1
	 “Paying Agent”
	  	2.4
	 [INCLUDE THIS LANGUAGE FOR SUBORDINATED
 SECURITIES...
	  	
	 “Payment Blockage Notice”
	  	12.2]
	 “Registrar”
	  	2.4
	 “Required Currency”
	  	10.16
	 “Service Agent”
	  	2.4
	 “successor person”
	  	5.1

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

 7 

 Section 1.4.    Rules of Construction. 
 Unless the context otherwise requires: 
 (a)    a term has the meaning assigned to it; 
 (b)    an accounting term not otherwise
defined has the meaning assigned to it in accordance with GAAP; 
 (c)    “or” is not exclusive; 
 (d)    words in the singular include the plural, and in the plural include the singular; and 
 (e)    provisions apply to successive events and transactions. 
 ARTICLE II. 
 THE SECURITIES 
 Section 2.1.    Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set
forth or determined in the manner provided in a Board Resolution, a supplemental indenture or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the authority granted under a Board Resolution. In the case of
Securities of a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the
method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities
shall be equally and ratably entitled to the benefits of the Indenture [INCLUDE THIS LANGUAGE FOR SUBORDINATED SECURITIES... but all Securities issued hereunder shall be subordinate and junior in right of payment, to the extent and in the
manner set forth in Article XII, to all Senior Indebtedness of the Company.] 
 Section 2.2.    Establishment of Terms of Series of
Securities. 
 At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series
generally, in the case of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.23) by or pursuant to a Board Resolution, a supplemental indenture or an
Officers’ Certificate pursuant to authority granted under a Board Resolution: 
 2.2.1.    the title of the Series (which shall
distinguish the Securities of that particular Series from the Securities of any other Series); 
 2.2.2.    the price or prices
(expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued; 
  

 8 

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

 2.2.5.    the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine
such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall
accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 
 2.2.6.    the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration
of transfer or exchange, where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served, and the method of payment, if by wire transfer, mail or other means; 
 2.2.7.    if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the
Securities of the Series may be redeemed, in whole or in part, at the option of the Company; 
 2.2.8.    the obligation,
if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms
and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 2.2.9.    the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such
repurchase obligations; 
 2.2.10.    if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which the Securities of the Series shall be issuable; 
 2.2.11.    the forms of the Securities of the
Series and whether the Securities will be issuable as Global Securities; 
 2.2.12.    if other than the principal amount
thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2; 
 2.2.13.    the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, including, but
not limited to, the ECU, and if such currency of denomination is a composite currency other than the ECU, the agency or organization, if any, responsible for overseeing such composite currency; 
  

 9 

 2.2.14.    the designation of the currency, currencies or currency units in which
payment of the principal of and interest, if any, on the Securities of the Series will be made; 
 2.2.15.    if payments
of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to
such payments will be determined; 
 2.2.16.    the manner in which the amounts of payment of principal of or interest,
if any, on the Securities of the Series will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index;

 2.2.17.    the provisions, if any, relating to any security provided for the Securities of the Series; 
 2.2.18.    any addition to or change in the Events of Default which applies to any Securities of the Series and any change in the
right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2; 
 2.2.19.    any addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the Series; 
 2.2.20.    any other terms of the Securities of the Series (which may supplement, modify or delete any provision of this Indenture
insofar as it applies to such Series); 
 2.2.21.    any depositaries, interest rate calculation agents, exchange rate
calculation agents or other agents with respect to Securities of such Series if other than those appointed herein; 
 2.2.22.    the provisions, if any, relating to conversion of any Securities of such Series, including if applicable, the conversion price, the conversion period, provisions as to whether conversion will be mandatory, at
the option of the Holders thereof or at the option of the Company, the events requiring an adjustment of the conversion price and provisions affecting conversion if such Series of Securities are redeemed; and 
 2.2.23.    whether the Securities of such Series will be senior debt securities or subordinated debt securities and, if applicable, a
description of the subordination terms thereof. 
 All Securities of any one Series need not be issued at the same time and may be issued
from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above. 
 Section 2.3.    Execution and Authentication. 
 Two Officers shall sign the Securities for the Company by manual or facsimile signature. 
 If an Officer
whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid. 
  

 10 

 A Security shall not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 
 The
Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a
Company Order. Such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing. Each
Security shall be dated the date of its authentication unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate. 
 The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture
hereto or Officers’ Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8. 
 Prior to the issuance
of Securities of any Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form
of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.4, and (c) an Opinion
of Counsel complying with Section 10.4. 
 The Trustee shall have the right to decline to authenticate and deliver any Securities of
such Series: (a) if the Trustee, being advised by counsel, determines that such action may not lawfully be taken; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of
directors and/or vice-presidents shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. 
 The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this
Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company. 
 Section 2.4.    Registrar and Paying Agent. 
 The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities of such Series may
be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect
of the Securities of such Series and this Indenture may be served (“Service Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The Company will give prompt written
notice to the Trustee of the name and address, and any 

  

 11 

 
change in the name or address, of each Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain any such required
Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from
time to time designate one or more co-registrars, additional paying agents or additional service agents and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner
relieve the Company of its obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.2 for Securities of any Series for such purposes. The Company will give prompt written notice to the
Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional service agent. The term “Registrar” includes any co-registrar; the term “Paying
Agent” includes any additional paying agent; and the term “Service Agent” includes any additional service agent. 
 The
Company hereby appoints the Trustee the initial Registrar, Paying Agent and Service Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first
issued. 
 Section 2.5.    Paying Agent to Hold Money in Trust. 
 The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of
Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee of any default by the Company in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the
Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust
fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent. 
 Section
2.6.    Securityholder Lists. 
 The Trustee shall preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at
least ten days before each interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each
Series of Securities. 
  

 12 

 Section 2.7.    Transfer and Exchange. 
 Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal
principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate
Securities at the Registrar’s request. No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer
tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). 
 Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period
beginning at the opening of business 15 days immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the
transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part. 
 Section 2.8.    Mutilated, Destroyed, Lost and Stolen Securities. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a
new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
 If there
shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of
either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and make available for
delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new Security under this Section, the Company may require
the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable 

  

 13 

 
by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly
issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 Section 2.9.    Outstanding
Securities. 
 The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by
it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. 
 If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced
Security is held by a bona fide purchaser. 
 If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the
Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue.

 A Security does not cease to be outstanding because the Company or an Affiliate holds the Security. 
 In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination
upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2. 
 Section 2.10.    Treasury Securities.

 In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand,
authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on
any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that the Trustee knows are so owned shall be so disregarded. 
 Section 2.11.    Temporary Securities. 
 Until definitive Securities are ready
for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers
appropriate for temporary Securities. Without unreasonable delay, the 

  

 14 

 
Company shall prepare and the Trustee upon request shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary
Securities. Until so exchanged, temporary Securities shall have the same rights under this Indenture as the definitive Securities. 
 Section
2.12.    Cancellation. 
 The Company at any time may deliver Securities to the Trustee for cancellation. The
Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or
cancellation and shall destroy such canceled Securities (subject to the record retention requirement of the Exchange Act) and deliver a certificate of such destruction to the Company, unless the Company otherwise directs. The Company may not issue
new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation. 
 Section 2.13.    Defaulted
Interest. 
 If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to
the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date. The Company shall fix the record date and payment date. At least 10 days before
the record date, the Company shall mail to the Trustee and to each Securityholder of the Series a notice that states the record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any other lawful
manner. 
 Section 2.14.    Global Securities. 
 2.14.1.    Terms of Securities.    A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a Series
shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities. 
 2.14.2.    Transfer and Exchange.    Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be
exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such Depositary notifies the Company that it is unwilling or
unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a
clearing agency under the Exchange Act within 90 days of such event, (ii) the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so exchangeable or (iii) an Event of
Default with respect to the Securities represented by such Global Security shall have happened and be continuing. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such
names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms. 
  

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 Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a
whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary
or a nominee of such a successor Depositary. 
 2.14.3.    Legend.    Unless otherwise
provided pursuant to Section 2.2, any Global Security issued hereunder shall bear a legend in substantially the following form: 
 “This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depositary or a nominee of the Depositary. This Security is exchangeable for Securities registered in
the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and may not be transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary
to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary.” 
 2.14.4.    Acts of Holders.    The Depositary, as a Holder, may appoint agents and otherwise authorize
participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 
 2.14.5.    Payments.    Notwithstanding the other provisions of this Indenture, unless otherwise specified
as contemplated by Section 2.2, payment of the principal of, premium, if any, and interest, if any, on any Global Security shall be made to the Holder thereof. 
 2.14.6.    Consents, Declaration and Directions.    Except as provided in Section 2.14.5, the Company, the Trustee and any Agent shall treat a person as the Holder
of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depositary with respect to such Global Security, for purposes of obtaining any consents,
declarations, waivers or directions required to be given by the Holders pursuant to this Indenture. 
 Section 2.15.    CUSIP
Numbers. 
 The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee
shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as
contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. 

 

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 ARTICLE III. 
 REDEMPTION 
 Section 3.1.    Notice to Trustee. 
 The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay
the Series of Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the
Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and the principal amount of Series of Securities to be redeemed. The Company shall give the
notice at least 30 days before the redemption date (or such shorter notice as may be acceptable to the Trustee). 
 Section
3.2.    Selection of Securities to be Redeemed. 
 Unless otherwise indicated for a particular Series by a Board
Resolution, a supplemental indenture hereto or an Officers’ Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that the Trustee deems
fair and appropriate. The Trustee shall make the selection from Securities of the Series outstanding not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities of the Series that have
denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to
Section 2.2.10, the minimum principal denomination for each Series and integral multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption also apply to portions of Securities of that Series
called for redemption. 
 Section 3.3.    Notice of Redemption. 
 Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least 15
days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed. 
 The notice shall identify the Securities of the Series to be redeemed and shall state: 
 (a)    the redemption date; 
 (b)    the redemption price; 
 (c)    the name and address of the Paying Agent; 
 (d)    that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the
redemption price; 
  

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 (e)    that interest on Securities of the Series called for
redemption ceases to accrue on and after the redemption date; and 
 (f)    any other information as may
be required by the terms of the particular Series or the Securities of a Series being redeemed. 
 At the Company’s request, the Trustee
shall give the notice of redemption in the Company’s name and at its expense. 
 Section 3.4.    Effect of Notice of
Redemption. 
 Once notice of redemption is mailed as provided in Section 3.3, Securities of a Series called for redemption become
due and payable on the redemption date and at the redemption price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption
date. 
 Section 3.5.    Deposit of Redemption Price. 
 On the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on
all Securities to be redeemed on that date. 
 Section 3.6.    Securities Redeemed in Part. 
 Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same
Maturity equal in principal amount to the unredeemed portion of the Security surrendered. 
 ARTICLE IV. 
 COVENANTS 
 Section 4.1.    Payment of
Principal and Interest. 
 The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly
and punctually pay the principal of and interest, if any, on the Securities of that Series in accordance with the terms of such Securities and this Indenture. 
 Section 4.2.    SEC Reports. 
 The Company shall deliver to the Trustee within 15 days after it files
them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the
SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of TIA Section 314(a). 
  

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 Section 4.3.    Compliance Certificate. 
 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate stating that a
review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its
obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his/her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this
Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he may have
knowledge). 
 The Company will, so long as any of the Securities are outstanding, deliver to the Trustee, promptly upon becoming aware of
any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 Section 4.4.    Stay, Extension and Usury Laws. 
 The Company covenants (to the
extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force,
which may affect the covenants or the performance of this Indenture or the Securities; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort
to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 
 Section 4.5.    Corporate Existence. 
 Subject to Article V, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence and rights (charter and statutory); provided, however, that the Company shall not be
required to preserve any such right if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof is not
adverse in any material respect to the Holders. 
 ARTICLE V. 
 SUCCESSORS 
 Section 5.1.    When Company May Merge, Etc. 
 The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any
person (a “successor person”), unless: 
  

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 (a)    the successor person (if any) is a corporation, partnership,
trust or other entity organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and 
 (b)    immediately after giving effect to the transaction, no Default or Event of Default, shall have occurred and be
continuing. 
 The Company shall deliver to the Trustee prior to the consummation of the proposed transaction an Officers’ Certificate
to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture. 
 Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or transfer all or part of its properties to the Company. Neither an Officers’ Certificate nor an Opinion of Counsel shall be required to be
delivered in connection therewith. 
 Section 5.2.    Successor Corporation Substituted. 
 Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in
accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and
may exercise every right and power of, the Company under this Indenture with the same effect as if such successor person has been named as the Company herein; provided, however, that the predecessor Company in the case of a sale,
conveyance or other disposition (other than a lease) shall be released from all obligations and covenants under this Indenture and the Securities. 
 ARTICLE VI. 
 DEFAULTS AND REMEDIES 
 Section 6.1.    Events of Default. 
 “Event of Default,” wherever used herein with respect to
Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default:

 (a)    default in the payment of any interest on any Security of that Series when it becomes due and
payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to the expiration of such period of 30 days); or 
 (b)    default in the payment of the principal of any Security of that Series at its Maturity; or 
 (c)    default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than
a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues 

  

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uncured 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 
 (d)    the Company pursuant to or within the meaning of any Bankruptcy Law: 

(i)    commences a voluntary case, 
 (ii)    consents to the entry of an order for relief against it in an involuntary case, 
 (iii)    consents to the appointment of a Custodian of it or for all or substantially all of its property,

 (iv)    makes a general assignment for the benefit of its creditors, or 
 (v)    generally is unable to pay its debts as the same become due; or 
 (e)    a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (i)    is for relief against the Company in an involuntary case, 
 (ii)    appoints a Custodian of the Company or for all or substantially all of its property, or 
 (iii)    orders the liquidation of the Company, 
 and the order or decree remains unstayed and in effect for 60 days; or 
 (f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.2.18. 
 The term “Bankruptcy
Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 Section 6.2.    Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred
to in Section 6.1(d) or (e)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are
Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by a notice in
writing to the Company (and to the 

  

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Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become
immediately due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso
facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 At any
time after such a declaration of acceleration with respect to any Series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority
in principal amount of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if all Events of Default with respect to Securities of that Series, other
than the non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. 
 No such rescission shall affect any subsequent Default or impair any right consequent thereon. 
 Section 6.3.    Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if 
 (a)    default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 
 (b)    default is made in the payment of principal of any Security at the Maturity thereof, or 
 (c)    default is made in the deposit of any sinking fund payment when and as due by the terms of a Security,

 then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and
payable on such Securities for principal and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal or 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.

 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys
adjudged or deemed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 
  

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 If an Event of Default with respect to any Securities of any Series occurs and is continuing, the Trustee
may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 Section 6.4.    Trustee May File Proofs of Claim. 
 In case of the pendency of
any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
 (a)    to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and

 (b)    to collect and receive any moneys or other property payable or deliverable on any such claims
and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event
that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.7. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding. 
 Section 6.5.    Trustee May Enforce Claims Without Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the
Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the
payment of the 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. 
  

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 Section 6.6.    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 interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 First: To the payment of all amounts due the Trustee under Section 7.7; and 
 Second: To the payment of the amounts then due and unpaid for principal of and interest on the Securities in respect of which or for the benefit of which
such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and interest, respectively; and 
 Third: To the Company. 
 Section
6.7.    Limitation on Suits. 
 No Holder of any Security of any Series shall have any right to institute any
proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (a)    such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect
to the Securities of that Series; 
 (b)    the Holders of not less than 25% in principal amount of the
outstanding Securities of that Series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c)    such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and
liabilities to be incurred in compliance with such request; 
 (d)    the Trustee for 60 days after its
receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 
 (e)    no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in 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 such Holders. 
  

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

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of and interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of
any such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section 6.9.    Restoration of Rights
and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders
shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
 Section 6.10.    Rights and Remedies Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or reserved to the Trustee or to
the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law
or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 6.11.    Delay or Omission Not Waiver. 
 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event
of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case
may be. 
 Section 6.12.    Control by Holders. 
 The Holders of a majority in principal amount of the outstanding Securities of any Series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred on the Trustee, with respect to the Securities of such Series, provided that 
 (a)    such direction shall not be in conflict with any rule of law or with this Indenture, 
  

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 (b)    the Trustee may take any other action deemed proper by the
Trustee which is not inconsistent with such direction, and 
 (c)    subject to the provisions of
Section 6.1, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal
liability. 
 Section 6.13.    Waiver of Past Defaults. 
 The Holders of not less than a majority in principal amount of the outstanding Securities of any Series may on behalf of the Holders of all the
Securities of such Series waive any past Default hereunder with respect to such Series and its consequences, except a Default in the payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a
majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration). Upon any such waiver, such Default shall cease to
exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 
 Section 6.14.    Undertaking for Costs. 
 All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not
apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities of any Series, or
to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Stated Maturity or Stated Maturities expressed in such Security (or, in the case of redemption, on the redemption
date). 
 ARTICLE VII. 
 TRUSTEE

 Section 7.1.    Duties of Trustee. 
 (a)    If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested
in it by this Indenture and use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 
 (b)    Except during the continuance of an Event of Default: 
  

 26 

 (i)    The Trustee need perform only those duties that are
specifically set forth in this Indenture and no others. 
 (ii)    In the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of
this Indenture; however, in the case of any such Officers’ Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officers’
Certificates and Opinions of Counsel to determine whether or not they conform to the requirements of this Indenture. 
 (c)    The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (i)    This paragraph does not limit the effect of paragraph (b) of this Section. 
 (ii)    The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless
it is proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (iii)    The Trustee
shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding
Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities
of such Series. 
 (d)    Every provision of this Indenture that in any way relates to the Trustee is
subject to paragraph (a), (b) and (c) of this Section. 
 (e)    The Trustee may refuse to
perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability or expense. 
 (f)    The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law. 
 (g)    No provision of this
Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that
repayment of such funds or adequate indemnity against such risk is not reasonably assured to it. 
 (h)    The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections, immunities and standard of care as are set forth in paragraphs (a), (b) and (c) of this Section with
respect to the Trustee. 
  

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 Section 7.2.    Rights of Trustee. 
 (a)    The Trustee may rely on and shall be protected in acting or refraining from acting upon any document believed
by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (b)    Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate 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 such Officers’ Certificate or Opinion of Counsel. 
 (c)    The
Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. No Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission
by any Depositary. 
 (d)    The Trustee shall not be liable for any action it takes or omits to take in
good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute negligence or bad faith. 
 (e)    The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full
and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon. 
 (f)    The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance
with such request or direction. 
 Section 7.3.    Individual Rights of Trustee. 
 The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate
of the Company with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also subject to Sections 7.10 and 7.11. 
 Section 7.4.    Trustee’s Disclaimer. 
 The Trustee makes no representation
as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its
authentication. 
 Section 7.5.    Notice of Defaults. 
 If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible Officer of the
Trustee, the Trustee shall mail to 

  

 28 

 
each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible
Officer of the Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as
its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series. 
 Section 7.6.    Reports by Trustee to Holders. 
 Within 60 days after May 15
in each year, the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar a brief report dated as of such May 15, in accordance with, and to the extent required under, TIA
Section 313. 
 A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each
stock exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange. 
 Section 7.7.    Compensation and Indemnity. 
 The Company shall pay to the
Trustee from time to time reasonable compensation for its services as the Company and the Trustee shall from time to time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an
express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. 

The Company shall indemnify the Trustee (including the cost of defending itself) against any loss, liability or expense incurred by it except as set
forth in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee
shall cooperate in the defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be
unreasonably withheld. This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. 
 The
Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through negligence or bad faith. 
 To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or
property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Securities of that Series. 
  

 29 

 When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 
 Section 7.8.    Replacement of Trustee. 
 A resignation or removal of the Trustee
and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. 
 The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders of a majority in principal amount of
the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may remove the Trustee with respect to Securities of one or more Series if: 
 (a)    the Trustee fails to comply with Section 7.10; 
 (b)    the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the
Trustee under any Bankruptcy Law; 
 (c)    a Custodian or public officer takes charge of the Trustee or
its property; or 
 (d)    the Trustee becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor
Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least 10% in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor
Trustee. 
 If the Trustee with respect to the Securities of any one or more Series fails to comply with Section 7.10, any
Securityholder of the applicable Series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to
the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect
to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its succession to each Securityholder of each such Series. Notwithstanding 

  

 30 

 
replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall continue for the benefit of
the retiring Trustee with respect to expenses and liabilities incurred by it prior to such replacement. 
 Section 7.9.    Successor
Trustee by Merger, Etc. 
 If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its
corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee. 
 Section
7.10.    Eligibility; Disqualification. 
 This Indenture shall always have a Trustee who satisfies the
requirements of TIA Section 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with
TIA Section 310(b). 
 Section 7.11.    Preferential Collection of Claims Against Company. 
 The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or
been removed shall be subject to TIA Section 311(a) to the extent indicated. 
 ARTICLE VIII. 
 SATISFACTION AND DISCHARGE; DEFEASANCE 
 Section
8.1.    Satisfaction and Discharge of Indenture. 
 This Indenture shall upon Company Order cease to be of further
effect (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a)    either 
 (i)    all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee
for cancellation; or 
 (ii)    all such Securities not theretofore delivered to the Trustee for
cancellation 
 (1)    have become due and payable, or 
 (2)    will become due and payable at their Stated Maturity within one year, or 
 (3)    have been called for redemption or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of 

  

 31 

 
notice of redemption by the Trustee in the name, and at the expense, of the Company, or 
 (4)    are deemed paid and discharged pursuant to Section 8.3, as applicable; 
 and the Company, in the case of (1), (2) or (3) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust an amount
sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such deposit (in the case of Securities which have
become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be; 
 (b)    the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (c)    the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this
Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the
Trustee under Section 7.7, and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive. 
 Section 8.2.    Application of Trust Funds; Indemnification. 
 (a)    Subject to the provisions of Section 8.5, all money deposited with the Trustee pursuant to
Section 8.1, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4 and all money received by the Trustee in respect of U.S. Government Obligations or Foreign
Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the persons entitled thereto, of the principal and interest for whose payment such money has been deposited with or received by the Trustee or to
make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.3 or 8.4. 
 (b)    The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited pursuant to
Sections 8.3 or 8.4 or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders. 
 (c)    The Trustee shall deliver or pay to the Company from time to time upon Company Request any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in
Sections 8.3 or 8.4 which, in the opinion of a nationally 

  

 32 

 
recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the Trustee, are then in excess of the
amount thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received. This provision shall not authorize the sale by the
Trustee of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture. 
 Section 8.3.    Legal
Defeasance of Securities of any Series. 
 Unless this Section 8.3 is otherwise specified pursuant to Section 2.2.20 to be
inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit referred to in subparagraph
(d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, at Company Request, execute proper instruments
acknowledging the same), except as to: 
 (a)    the rights of Holders of Securities of such Series to
receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Stated Maturity of such principal or
installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms of this Indenture
and the Securities of such Series; 
 (b)    the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and 8.5;
and 
 (c)    the rights, powers, trust and immunities of the Trustee hereunder; 
 provided that, the following conditions shall have been satisfied: 
 (d)    the Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as
security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in Dollars (or such other money or currencies as shall then be legal tender in the
United States) and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of
interest and principal in respect thereof, in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an
amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest,
if any, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 
  

 33 

 (e)    such deposit will not result in a breach or violation of, or
constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (f)    no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day
after such date; 
 (g)    the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the
applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes
as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred;

 (h)    the Company shall have delivered to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the
Company; 
 (i)    such deposit shall not result in the trust arising from such deposit constituting an
investment company (as defined in the Investment Company Act of 1940, as amended), or such trust shall be qualified under such Act or exempt from regulation thereunder; and 
 (j)    the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent provided for relating to the defeasance contemplated by this Section have been complied with. 
 Section
8.4.    Covenant Defeasance. 
 Unless this Section 8.4 is otherwise specified pursuant to
Section 2.2.20 to be inapplicable to Securities of any Series, the Company may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5 and 5.1 as well as any
additional covenants specified in a supplemental indenture hereto for such Series of Securities or a Board Resolution or an Officers’ Certificate delivered pursuant to Section 2.2.20 (and the failure to comply with any such covenants shall
not constitute a Default or Event of Default with respect to such Series under Section 6.1) and the occurrence of any event described in clause (f) of Section 6.1 shall not constitute a Default or Event of Default hereunder, with
respect to the Securities of such Series, provided that the following conditions shall have been satisfied: 
 (a)    with reference to this Section 8.4, the Company has deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as trust funds in trust, specifically pledged
as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in the case of Securities of such Series denominated in Dollars, cash in 

  

 34 

 
Dollars (or such other money or currencies as shall then be legal tender in the United States) and/or U.S. Government Obligations, or (ii) in the case
of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof, in accordance with their terms,
will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm
of independent certified public accountants expressed in a written certification thereof delivered to the Trustee, to pay principal of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities of such Series on
the dates such installments of interest or principal and such sinking fund payments are due; 
 (b)    such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (c)    no Default or Event of Default with respect to the Securities of such Series shall have occurred and be
continuing on the date of such deposit; 
 (d)    the Company shall have delivered to the Trustee an
Opinion of Counsel confirming that Holders of the Securities of such Series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such deposit and covenant defeasance had not occurred; 
 (e)    the Company shall have delivered to the Trustee an Officers’ Certificate stating the deposit was not made by the Company with the intent of preferring the Holders of the Securities of
such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and 
 (f)    the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with. 
 Section 8.5.    Repayment to Company. 
 The Trustee and the Paying Agent shall pay to the Company upon
request any money held by them for the payment of principal and interest that remains unclaimed for two years. After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned
property law designates another person. 
 Section 8.6.    Reinstatement. 
 If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with Section 8.1 by
reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this Indenture with 

  

 35 

 
respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant
to Section 8.1 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 8.1; provided, however, that if the Company has made any payment of principal of or interest on
or any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or
Paying Agent. 
 ARTICLE IX. 
 AMENDMENTS AND WAIVERS 
 Section 9.1.    Without Consent of Holders. 
 The Company and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without the consent of any Securityholder:

 (a)    to cure any ambiguity, defect or inconsistency; 
 (b)    to provide for uncertificated Securities in addition to or in place of certificated Securities; 
 (c)    to provide for the assumption of our obligations to holders of any debt security in the case of a merger or
consolidation or sale of all or substantially all of our assets; 
 (d)    to make any change that would
provide any additional rights or benefits to the holders of securities or that does not adversely affect the legal rights under the Indenture of any such holder; 
 (e)    to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture
under the TIA; 
 (f)    to conform the text of the indentures to any provision of the Description of
Debt Securities to the extent that such provision in the Description of Debt Securities was intended to be a verbatim recitation of a provision of the indentures; 
 (g)    to provide for the issuance of additional securities in accordance with the limitations set forth in the
indenture as of the date of the indenture; 
 (h)    to allow any guarantor to execute a supplemental
indenture with respect to debt securities and to release guarantors in accordance with the terms of the indenture; or 
 (i)    to add additional obligors under the indenture and the securities. 
 The consent of holders is not
necessary under the indentures to approve the particular form of any proposed amendment. It is sufficient if such consent approves the substance of the proposed amendment. 
  

 36 

 Section 9.2.    With Consent of Holders. 
 The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of
the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series. Except as provided in Section 6.13, the Holders
of at least a majority in principal amount of the outstanding Securities of each Series affected by such waiver by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such
Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. 
 It shall
not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof.
After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail
or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. 
 Section 9.3.    Limitations. 
 Without the consent of each Securityholder affected, an amendment or
waiver may not: 
 (a)    reduce the principal amount of Securities whose Holders must consent to an
amendment, supplement or waiver; 
 (b)    reduce the rate of or extend the time for payment of interest
(including default interest) on any Security; 
 (c)    reduce the principal or change the Stated
Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation; 
 (d)    reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof; 
 (e)    waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security
(except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration);

 (f)    make the principal of or interest, if any, on any Security payable in any currency other than
that stated in the Security; 
 (g)    make any change in Sections 6.8, 6.13, 9.3 (this sentence), 10.15
or 10.16; or 
  

 37 

 (h)    waive a redemption payment with respect to any Security or
change any of the provisions with respect to the redemption of any Securities. 
 Section 9.4.    Compliance with Trust Indenture
Act. 
 Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto
that complies with the TIA as then in effect. 
 Section 9.5.    Revocation and Effect of Consents. 
 Until an amendment or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent as
to his Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective. 
 Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (g) of
Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s
Security. 
 Section 9.6.    Notation on or Exchange of Securities. 
 The Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated. The Company in
exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the amendment or waiver. 
 Section 9.7.    Trustee Protected. 
 In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental
indenture that adversely affects its rights. 
 ARTICLE X. 
 MISCELLANEOUS 
 Section 10.1.    Trust Indenture Act Controls. 
 If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in this Indenture by
the TIA, such required or deemed provision shall control. 
  

 38 

 Section 10.2.    Notices. 
 Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by first-class mail:

 if to the Company: 
 Transcend Services, Inc.

 One Glenlake Parkway 
 Suite
1325 
 Atlanta, Georgia 30328 
 Attention: Chief Financial Officer 
 if to the Trustee: 
 [Name of Trustee] 
 [Address] 
                                        
                                         
  
                                        
                                         
  
 Attention:                                      
                           
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication to a Securityholder shall be mailed by first-class mail to his address shown on the register kept by the Registrar. Failure
to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series. 
 If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the
Securityholder receives it. 
 If the Company mails a notice or communication to Securityholders, it shall mail a copy to the Trustee and
each Agent at the same time. 
 Section 10.3.    Communication by Holders with Other Holders. 
 Securityholders of any Series may communicate pursuant to TIA Section 312(b) with other Securityholders of that Series or any other Series with
respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c). 
 Section 10.4.    Certificate and Opinion as to Conditions Precedent. 
 Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee:

  

 39 

 (a)    an Officers’ Certificate stating that, in the opinion of
the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (b)    an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 Section 10.5.    Statements Required in Certificate or Opinion. 
 Each
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and
shall include: 
 (a)    a statement that the person making such certificate or opinion has read such
covenant or condition; 
 (b)    a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (c)    a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been
complied with; and 
 (d)    a statement as to whether or not, in the opinion of such person, such
condition or covenant has been complied with. 
 Section 10.6.    Rules by Trustee and Agents. 
 The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules and set
reasonable requirements for its functions. 
 Section 10.7.    Legal Holidays. 
 Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a particular Series, a “Legal
Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the
intervening period. 
 Section 10.8.    No Recourse Against Others. 
 A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the
Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the
consideration for the issue of the Securities. 
  

 40 

 Section 10.9.    Counterparts. 
 This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 Section 10.10.    Governing
Laws. 
 THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO
BE PERFORMED IN SUCH STATE, WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS THEREOF. 
 Section 10.11.    No Adverse
Interpretation of Other Agreements. 
 This Indenture may not be used to interpret another indenture, loan or debt agreement of the
Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section
10.12.    Successors. 
 All agreements of the Company in this Indenture and the Securities shall bind its
successor. All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 10.13.    Severability.

 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 10.14.    Table of
Contents, Headings, Etc. 
 The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of this Indenture
have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 10.15.    Securities in a Foreign Currency or in ECU. 
 Unless otherwise
specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any
action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any
Series which are denominated in a coin or currency other than Dollars (including ECUs), then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of
Dollars that could be obtained for such amount at the Market Exchange Rate at such time. For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New 

  

 41 

 
York City for cable transfers of that currency as published by the Federal Reserve Bank of New York; provided, however, in the case of ECUs,
Market Exchange Rate shall mean the rate of exchange determined by the Commission of the European Union (or any successor thereto) as published in the Official Journal of the European Union (such publication or any successor publication, the
“Journal”). If such Market Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York
or, in the case of ECUs, the rate of exchange as published in the Journal, as of the most recent available date, or quotations or, in the case of ECUs, rates of exchange from one or more major banks in The City of New York or in the country of issue
of the currency in question or, in the case of ECUs, in Luxembourg or such other quotations or, in the case of ECUs, rates of exchange as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of this paragraph shall
apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture. 
 All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding
paragraph shall be in its sole discretion and shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Company and all Holders. 
 Section 10.16.    Judgment Currency. 
 The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or
interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance
with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then, the
rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which
final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not
entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed
to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the
full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any
day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close. 
  

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 ARTICLE XI. 
 SINKING FUNDS 
 Section 11.1.    Applicability of Article. 
 The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series, except as otherwise permitted or
required by any form of Security of such Series issued pursuant to this Indenture. 
 The minimum amount of any sinking fund payment provided
for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking
fund payment.” If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of
Securities of any Series as provided for by the terms of the Securities of such Series. 
 Section 11.2.    Satisfaction of Sinking
Fund Payments with Securities. 
 The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the
Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory
sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms
of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities
have not been previously so credited. Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting
Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.
If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than
$100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding
sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying
Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company. 
  

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 Section 11.3.    Redemption of Securities for Sinking Fund. 
 Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture hereto or Officers’ Certificate in respect of a
particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for
that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to
Section 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise
indicated in the Board Resolution, Officers’ Certificate or supplemental indenture in respect of a particular Series of Securities) before 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 3.2 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 3.3. Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6. 
 [INCLUDE
ARTICLE XII FOR SUBORDINATED SECURITIES... 
 ARTICLE XII. 
 SUBORDINATION OF SECURITIES 
 Section 12.1.    Agreement of Subordination. 
 The Company covenants and agrees, and each Holder of Securities issued hereunder by his acceptance thereof likewise covenants and agrees, that all
Securities shall be issued subject to the provisions of this Article XII; and each Person holding any Security, whether upon original issue or upon transfer, assignment or exchange thereof, accepts and agrees to be bound by such provisions.

 The payment of the principal of, premium, if any, and interest on all Securities (including, but not limited to, the redemption price with
respect to the Securities called for redemption in accordance with Article 3 as provided in the Indenture) issued hereunder shall, to the extent and in the manner hereinafter set forth, be subordinated and subject in right of payment to the prior
payment in full of all Senior Indebtedness, whether outstanding at the date of this Indenture or thereafter incurred. 
 No provision of this
Article XII shall prevent the occurrence of any default or Event of Default hereunder. 
 Section 12.2.    Payments to Holders.

 No payment shall be made with respect to the principal of, or premium, if any, or interest on the Securities (including, but not limited
to, the redemption price with respect to the Securities to be called for redemption in accordance with Article III as provided in the 

  

 44 

 
Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph of Section 12.5, if: 
 (a)    a default in the payment of principal, premium, interest, rent or other obligations due on any Senior
Indebtedness occurs and is continuing (or, in the case of Senior Indebtedness for which there is a period of grace, in the event of such a default that continues beyond the period of grace, if any, specified in the instrument or lease evidencing
such Senior Indebtedness), unless and until such default shall have been cured or waived or shall have ceased to exist; or 
 (b)    a default, other than a payment default, on a Designated Senior Indebtedness occurs and is continuing that then permits holders of such Designated Senior Indebtedness to accelerate its maturity and the Trustee
receives a notice of the default (a “Payment Blockage Notice”) from a Representative or the Company. 
 If the Trustee receives any
Payment Blockage Notice pursuant to clause (ii) above, no subsequent Payment Blockage Notice shall be effective for purposes of this Section unless and until (a) at least 365 days shall have elapsed since the initial effectiveness of the
immediately prior Payment Blockage Notice, and (b) all scheduled payments of principal, premium, if any, and interest on the Securities that have come due have been paid in full in cash. No nonpayment default that existed or was continuing on
the date of delivery of any Payment Blockage Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice. 
 The Company may and shall resume payments on and distributions in respect of the Securities upon the earlier of: 
 (a)    the date upon which the default is cured or waived or ceases to exist, or 
 (b)    in the case of a default referred to in clause (ii) above, 179 days pass after notice is received if the maturity of such Designated Senior Indebtedness has not been accelerated, unless this Article XII
otherwise prohibits the payment or distribution at the time of such payment or distribution. 
 Upon any payment by the Company, or
distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or liquidation or reorganization of the Company, whether voluntary or involuntary or in
bankruptcy, insolvency, receivership or other proceedings, all amounts due or to become due upon all Senior Indebtedness shall first be paid in full in cash or other payment satisfactory to the holders of such Senior Indebtedness, or payment thereof
in accordance with its terms provided for in cash or other payment satisfactory to the holders of such Senior Indebtedness, before any payment is made on account of the principal of, premium, if any, or interest on the Securities (except payments
made pursuant to Article VI from monies deposited with the Trustee pursuant thereto prior to commencement of proceedings for such dissolution, winding-up, liquidation or reorganization); and upon any such dissolution or winding-up or liquidation or
reorganization of the Company or bankruptcy, insolvency, receivership or other proceeding, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders
of the Securities or the Trustee would be entitled, 

  

 45 

 
except for the provision of this Article XII, shall (except as aforesaid) be paid by the Company or by any receiver, trustee in bankruptcy, liquidating
trustee, agent or other Person making such payment or distribution, or by the Holders of the Securities or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior Indebtedness (pro rata to such holders on the
basis of the respective amounts of Senior Indebtedness held by such holders, or as otherwise required by law or a court order) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any
instruments evidencing any Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay all Senior Indebtedness in full, in cash or other payment satisfactory to the holders of such Senior
Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness, before any payment or distribution or provision therefor is made to the Holders of the Securities or to the Trustee.

 For purposes of this Article XII, the words, “cash, property or securities” shall not be deemed to include shares of stock of
the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this Article XII with
respect to the Securities to the payment of all Senior Indebtedness which may at the time be outstanding; provided that (i) the Senior Indebtedness is assumed by the new corporation, if any, resulting from any reorganization or readjustment,
and (ii) the rights of the holders of Senior Indebtedness (other than leases which are not assumed by the Company or the new corporation, as the case may be) are not, without the consent of such holders, altered by such reorganization or
readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an
entirety, to another corporation upon the terms and conditions provided for in Article V shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 12.2 if such other corporation shall, as a
part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Article V. 
 In the event of the
acceleration of the Securities because of an Event of Default, no payment or distribution shall be made to the Trustee or any Holder of Securities in respect of the principal of, premium, if any, or interest on the Securities (including, but not
limited to, the redemption price with respect to the Securities called for redemption in accordance with Article 3 as provided in the Indenture), except payments and distributions made by the Trustee as permitted by the first or second paragraph of
Section 12.5, until all Senior Indebtedness has been paid in full in cash or other payment satisfactory to the holders of Senior Indebtedness or such acceleration is rescinded in accordance with the terms of this Indenture. If payment of the
Securities is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Indebtedness of the acceleration at the address set forth in the notice from the Agent (or successor agent) to the Trustee as being the
address to which the Trustee should send its notice pursuant to this Section 12.2, unless there are no payment obligations of the Company thereunder and all obligations thereunder to extend credit have been terminated or expired. 
 In the event that, notwithstanding the foregoing provisions, any payment or distribution of assets of the Company of any kind or character, whether in
cash, property or securities (including, without limitation, by way of setoff or otherwise), prohibited by the foregoing, shall 

  

 46 

 
be received by the Trustee or the Holders of the Securities before all Senior Indebtedness is paid in full in cash or other payment satisfactory to the
holders of such Senior Indebtedness, or provision is made for such payment thereof in accordance with its terms in cash or other payment satisfactory to the holders of such Senior Indebtedness, such payment or distribution shall be held in trust for
the benefit of and shall be paid over or delivered to the holders of Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior
Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior Indebtedness remaining unpaid to the extent necessary to pay all Senior Indebtedness in full in
cash or other payment satisfactory to the holders of such Senior Indebtedness, after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness. 
 Nothing in this Section 12.2 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.7. This Section 12.2
shall be subject to the further provisions of Section 12.5. 
 Section 12.3.    Subrogation of Securities. 
 Subject to the payment in full of all Senior Indebtedness, the rights of the Holders of the Securities shall be subrogated to the extent of the payments
or distributions made to the holders of such Senior Indebtedness pursuant to the provisions of this Article XII (equally and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to other indebtedness
of the Company to substantially the same extent as the Securities are subordinated and is entitled to like rights of subrogation) to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or
securities of the Company applicable to the Senior Indebtedness until the principal, premium, if any, and interest on the Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of the
Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this Article XII, and no payment over pursuant to the provisions of this Article XII, to or
for the benefit of the holders of Senior Indebtedness by Holders of the Securities or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness, and the Holders of the Securities, be deemed to be a payment
by the Company to or on account of the Senior Indebtedness; and no payments or distributions of cash, property or securities to or for the benefit of the Holders of the Securities pursuant to the subrogation provisions of this Article XII, which
would otherwise have been paid to the holders of Senior Indebtedness shall be deemed to be a payment by the Company to or for the account of the Securities. It is understood that the provisions of this Article XII are and are intended solely for the
purposes of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of the Senior Indebtedness, on the other hand. 
 Nothing contained in this Article XII or elsewhere in this Indenture or in the Securities is intended to or shall impair, as among the Company, its creditors other than the holders of Senior Indebtedness, and the
Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become due and
payable in accordance 

  

 47 

 
with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders
of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any,
under this Article XII of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. 
 Upon any payment or distribution of assets of the Company referred to in this Article XII, the Trustee, subject to the provisions of Section 7.1, and the Holders of the Securities shall be entitled to rely upon
any order or decree made by any court of competent jurisdiction in which such bankruptcy, dissolution, winding-up, liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidating trustee,
agent or other person making such payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the persons entitled to participate in such distribution, the holders of the Senior Indebtedness
and other indebtedness of the Company, the amount thereof or payable thereon and all other facts pertinent thereto or to this Article XII. 
 Section
12.4.    Authorization to Effect Subordination. 
 Each Holder of a Security by the holder’s acceptance
thereof authorizes and directs the Trustee on the holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article XII and appoints the Trustee to act as the holder’s
attorney-in-fact for any and all such purposes. If the Trustee does not file a proper proof of claim or proof of debt in the form required in any proceeding referred to in Section 6.3 hereof at least 30 days before the expiration of the time to
file such claim, the holders of any Senior Indebtedness or their representatives are hereby authorized to file an appropriate claim for and on behalf of the Holders of the Securities. 
 Section 12.5.    Notice to Trustee. 
 The Company shall give prompt written
notice in the form of an Officers’ Certificate to a Responsible Officer of the Trustee and to any paying agent of any fact known to the Company which would prohibit the making of any payment of monies to or by the Trustee or any paying agent in
respect of the Securities pursuant to the provisions of this Article XII. Notwithstanding the provisions of this Article XII or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts
which would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the provisions of this Article XII, unless and until a Responsible Officer of the Trustee shall have received written notice
thereof at the Corporate Trust Office from the Company (in the form of an Officers’ Certificate) or a Representative or a holder or holders of Senior Indebtedness or from any trustee thereof; and before the receipt of any such written notice,
the Trustee, subject to the provisions of Section 7.1, shall be entitled in all respects to assume that no such facts exist; provided that if on a date not fewer than two Business Days prior to the date upon which by the terms hereof any such
monies may become payable for any purpose (including, without limitation, the payment of the principal of, or premium, if any, or interest on any Security) the Trustee shall not have received, with respect to such monies, the notice provided for in
this Section 12.5, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority 

  

 48 

 
to receive such monies and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may
be received by it on or after such prior date. 
 Notwithstanding anything in this Article XII to the contrary, nothing shall prevent any
payment by the Trustee to the Holders of monies deposited with it pursuant to Section 8.1, and any such payment shall not be subject to the provisions of Section 12.1 or 12.2. 
 The Trustee, subject to the provisions of Section 7.1, shall be entitled to rely on the delivery to it of a written notice by a Representative or a
person representing himself to be a holder of Senior Indebtedness (or a trustee on behalf of such holder) to establish that such notice has been given by a Representative or a holder of Senior Indebtedness or a trustee on behalf of any such holder
or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article
XII, the Trustee may request such person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such person, the extent to which such person is entitled to participate in such payment or
distribution and any other facts pertinent to the rights of such person under this Article XII, and if such evidence is not furnished the Trustee may defer any payment to such person pending judicial determination as to the right of such person to
receive such payment. 
 Section 12.6.    Trustee’s Relation to Senior Indebtedness. 
 The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XII in respect of any Senior Indebtedness at any
time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in Section 7.11 or elsewhere in this Indenture shall deprive the Trustee of any of its rights as such holder. 
 With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are
specifically set forth in this Article XII, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty
to the holders of Senior Indebtedness and, subject to the provisions of Section 7.1, the Trustee shall not be liable to any holder of Senior Indebtedness if it shall pay over or deliver to Holders of Securities, the Company or any other person
money or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article XII or otherwise. 
 Section
12.7.    No Impairment of Subordination. 
 No right of any present or future holder of any Senior Indebtedness to
enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by
the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with. 
  

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 Section 12.8.    Article Applicable to Paying Agents. 
 If at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term
“Trustee” as used in this Article shall (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in
this Article in addition to or in place of the Trustee; provided, however, that the first paragraph of Section 12.5 shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent. 
 Section 12.9.    Senior Indebtedness Entitled to Rely. 
 The holders of Senior Indebtedness (including, without limitation, Designated Senior Indebtedness) shall have the right to rely upon this Article XII, and no amendment or modification of the provisions contained
herein shall diminish the rights of such holders unless such holders shall have agreed in writing thereto. 
 ...END ARTICLE XII,
INCLUDED FOR SUBORDINATED SECURITIES.] 
  

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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. 
  

			
	TRANSCEND SERVICES, INC.
		
	By:	 	 
		 	Name:
		 	Its:
	
	 [Name of Trustee]

		
	By:	 	 
		 	Name:
		 	Its:

  

 51

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