Document:

Registration Rights Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
  

 
 REGISTRATION RIGHTS AGREEMENT

 Dated as of March 22, 2012 
 by and among 
 HOST HOTELS & RESORTS, L.P., 

as Issuer 

and 

GOLDMAN, SACHS & CO., 
 DEUTSCHE BANK SECURITIES INC., 
 J.P. MORGAN SECURITIES LLC AND

 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 

as representatives of the several Initial Purchasers 

 
  

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT, among HOST HOTELS & RESORTS, L.P., a Delaware limited partnership (the “Issuer”)
and GOLDMAN, SACHS & CO., DEUTSCHE BANK SECURITIES INC., J.P. MORGAN SECURITIES LLC and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as representatives (the “Representatives”) of the several Initial Purchasers
listed on Schedule A to the Purchase Agreement (as defined below) (the “Purchasers”). 
 This Agreement is made
pursuant to the Purchase Agreement, dated March 14, 2012, among the Issuer and the Purchasers (the “Purchase Agreement”), which provides for the sale by the Issuer to the Purchasers of 5.25% Series A Senior Notes due 2022 of the
Issuer (the “Securities”) in aggregate principal amount of $350,000,000. In order to induce the Purchasers to enter into the Purchase Agreement, the Issuer has agreed to provide to the Purchasers and their respective direct and indirect
transferees, among other things, the registration rights for the Securities set forth in this Agreement. The execution of this Agreement is a condition to the closing of the transactions contemplated by the Purchase Agreement. 

The parties hereby agree as follows: 
 1. Definitions 
 As used in this Agreement, the following terms shall have
the following meanings (and, unless otherwise indicated, capitalized terms used herein without definition shall have the meanings ascribed to them by the Purchase Agreement): 
 Advice: See Section 5. 
 Applicable Period: See Section 2.

 Business Day: Any day, other than a Saturday, Sunday or federal holiday. 

Closing Date: The Closing Date as defined in the Purchase Agreement. 

Effectiveness Period: See Section 3. 

Effectiveness Target Date: The 260th day following the Closing Date. 

  
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 Event Date: See Section 4. 

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Exchange Offer: See Section 2. 
 Exchange Registration Statement: See Section 2. 
 Exchange
Securities: See Section 2. 
 Filing Date: The 170th day after the Closing Date. 

Holder: Any holder of Transfer Restricted Securities. 
 Indenture: The Amended and Restated Indenture, dated as of August 5, 1998, by and among Host Hotels & Resorts, L.P. (formerly known as Host Marriott, L.P., which was previously known
as HMH Properties, Inc.), the guarantors named therein and The Bank of New York, as successor trustee, together with the Forty-Second Supplemental Indenture to be dated as of March 22, 2012 between the Issuer and the Trustee, pursuant to which
the Securities are being issued, as amended or supplemented from time to time in accordance with the terms thereof. 

Issuer: See the introductory paragraph of this Agreement. 

Liquidated Damages: See Section 4. 
 Participating Broker-Dealer: See Section 2. 
 Person: An
individual, trustee, corporation, partnership, joint stock company, trust, unincorporated association, union, business association, firm or other legal entity. 
 Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to completion and a prospectus that includes any information previously
omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act) as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any
portion of the Exchange Securities and/or the Transfer Restricted Securities (as applicable) covered by such Registration 

  
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Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in
such Prospectus. 
 Purchasers: See the introductory paragraph to this Agreement. 

Registration Default: See Section 4. 
 Registration Statement: Any registration statement of the Issuer, including, but not limited to, the Exchange Registration Statement, that covers any of the Transfer Restricted Securities pursuant
to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits, and all material incorporated by reference or deemed to be incorporated by
reference in such registration statement. 
 Rule 144: Rule 144 promulgated pursuant to the Securities Act, as currently
in effect, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 

Rule 144A: Rule 144A promulgated pursuant to the Securities Act, as currently in effect, as such rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the SEC. 
 Rule 415: Rule 415 promulgated pursuant to the
Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 

SEC: The Securities and Exchange Commission. 
 Securities: See the introductory paragraphs to this Agreement. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Shelf Notice: See Section 2. 
 Shelf Registration: See Section 3. 
 TIA: The Trust Indenture
Act of 1939, as amended. 

  
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 Transfer Restricted Securities: The Securities upon original
issuance thereof and at all times subsequent thereto, until in the case of any such Securities (i) a Registration Statement covering such Securities has been declared effective by the SEC and such Securities have been disposed of in accordance
with such effective Registration Statement, (ii) such Securities have been transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto), or, following the 365th after the date of this Agreement, are transferable pursuant to
Rule 144 (or any successor provision thereto), (iii) such Securities have otherwise been transferred and a new Security not subject to transfer restrictions under the Securities Act has been delivered by or on behalf of the Issuer in
accordance with the terms of the Indenture, or (iv) such Securities cease to be outstanding. 
 Trustee: The trustee
under the Indenture and, if existent, the trustee under any indenture governing the Exchange Securities. 
 Underwritten
registration or underwritten offering: A registration in which securities of the Issuer are sold to an underwriter for reoffering to the public. 
 2. Exchange Offer 
 (a) The Issuer agrees to use its reasonable best
efforts to file with the SEC as soon as practicable after the Closing Date, but in no event later than the Filing Date, an offer to exchange (the “Exchange Offer”) any and all of the Transfer Restricted Securities for a like aggregate
principal amount of debt securities of the Issuer which are substantially identical to the Securities (the “Exchange Securities”) (and which are entitled to the benefits of the Indenture or a trust indenture which is identical to the
Indenture (other than such changes to the Indenture or any such identical trust indenture as are necessary to comply with any requirements of the SEC to effect or maintain the qualification thereof under the TIA) and which, in either case, has been
qualified under the TIA), except that the Exchange Securities shall have been registered pursuant to an effective Registration Statement in compliance with the Securities Act. The Exchange Offer will be registered pursuant to the Securities Act on
the appropriate form (the “Exchange Registration Statement”) and will comply with all applicable tender offer rules and regulations promulgated pursuant to the Exchange Act and shall be duly registered or qualified pursuant to all
applicable state securities or Blue Sky laws. The Exchange Offer shall not be subject to any condition, other than that the Exchange Offer does not violate any applicable law or interpretation of the Staff of the SEC. No securities shall be included
in the Registration Statement covering the Exchange Offer other than the Transfer Restricted Securities and the Exchange Securities. The Issuer agrees to use its reasonable best efforts to (x) cause the Exchange Registration Statement to become
effective pursuant 

  
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to the Securities Act on or before the Effectiveness Target Date; (y) keep the Exchange Offer open for not less than 20 Business Days (or such longer period required by applicable law) after
the date that the notice of the Exchange Offer referred to below is sent to Holders; and (z) consummate the Exchange Offer within 290 days after the Closing Date. Each Holder who participates in the Exchange Offer will be required to represent
that any Exchange Securities received by it will be acquired in the ordinary course of its business, that at the time of the consummation of the Exchange Offer such Holder will have no arrangement or understanding with any person to participate in
the distribution of the Exchange Securities, and that such Holder is not an affiliate of the Issuer within the meaning of Rule 405 of the Securities Act (or that if it is such an affiliate, it will comply with the registration and prospectus
delivery requirements of the Securities Act to the extent applicable). Each Holder that is not a Participating Broker-Dealer will be required to represent that it is not engaged in, and does not intend to engage in, the distribution of the Exchange
Securities. Each Holder that is a Participating Broker-Dealer will be required to acknowledge that it will deliver a prospectus as required by law in connection with any resale of such Exchange Securities. Upon consummation of the Exchange Offer in
accordance with this Agreement, the Issuer shall have no further obligation to register Transfer Restricted Securities pursuant to Section 3 of this Agreement. 
 (b) The Issuer shall include within the Prospectus contained in the Exchange Registration Statement a section entitled “Plan of Distribution,” reasonably acceptable to the Purchasers, which
shall contain a summary statement of the positions taken or policies made by the Staff of the SEC with respect to the potential “underwriter” status of any broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the
Exchange Act) of Exchange Securities received by such broker-dealer in the Exchange Offer (a “Participating Broker-Dealer”). Such “Plan of Distribution” section shall also allow the use of the Prospectus by all persons subject to
the prospectus delivery requirements of the Securities Act, including all Participating Broker-Dealers, and include a statement describing the means by which Participating Broker-Dealers may resell the Exchange Securities. 

The Issuer shall use its reasonable best efforts to keep the Exchange Registration Statement effective and to amend and supplement the
Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered by all persons subject to the prospectus delivery requirements of the Securities Act for such period of time as such persons must comply with such requirements
in order to resell the Exchange Securities; provided that such period shall not exceed 180 days after consummation of the Exchange Offer (or such longer period if extended pursuant to the last paragraph of Section 5) (the
“Applicable Period”). 

  
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 In connection with the Exchange Offer, the Issuer shall: 

(a) deliver as promptly as practicable to each Holder a copy of the prospectus forming part of the Exchange Offer
Registration Statement, together with an appropriate letter of transmittal and related documents; 
 (b) utilize
the services of a Depositary for the Exchange Offer with an address in the Borough of Manhattan, The City of New York; and 
 (c) permit Holders to withdraw tendered Securities at any time prior to the close of business, New York time, on the last Business Day on which the Exchange Offer shall remain open. 

As soon as practicable after the close of the Exchange Offer, the Issuer shall: 

(i) accept for exchange all Securities properly tendered and not validly withdrawn pursuant to the Exchange Offer;

 (ii) deliver to the Trustee for cancellation all Securities so accepted for exchange; and 

(iii) cause the Trustee to authenticate and deliver promptly to each Holder of Securities, Exchange Securities equal in
principal amount to the Securities of such Holder so accepted for exchange. 
 (c) If (1) prior to the consummation of the
Exchange Offer, applicable interpretations of the Staff of the SEC do not permit the Issuer to effect the Exchange Offer as contemplated herein, or (2) the Exchange Offer is commenced and not consummated within 290 days of the Closing Date for
any reason, then the Issuer shall promptly deliver to the Holders and the Trustee written notice thereof (the “Shelf Notice”) and the Issuer shall file a Registration Statement pursuant to Section 3. Following the delivery of a Shelf
Notice to the Holders of Transfer Restricted Securities, the Issuer shall not have any further obligation to conduct the Exchange Offer pursuant to this Section 2, provided that the Issuer shall have the right, nonetheless, to proceed to
consummate the Exchange Offer notwithstanding its obligations pursuant to this Section 2(c) (and, upon such consummation, its obligation to consummate a Shelf Registration shall terminate). 

  
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 3. Shelf Registration 
 If a Shelf Notice is delivered as contemplated by Section 2(c), then: 
 (a)
Shelf Registration. The Issuer shall use its reasonable best efforts to prepare and file with the SEC, as promptly as practicable following the delivery of the Shelf Notice, a Registration Statement for an offering to be made on a continuous
basis pursuant to Rule 415 covering all of the Transfer Restricted Securities (the “Shelf Registration”). The Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of such Transfer Restricted
Securities for resale by the Holders in the manner or manners reasonably designated by them (including, without limitation, one or more underwritten offerings). The Issuer shall not permit any securities other than the Transfer Restricted Securities
to be included in the Shelf Registration. The Issuer shall use its reasonable best efforts, as described in Section 5(b), to cause the Shelf Registration to be declared effective pursuant to the Securities Act as promptly as practicable
following the filing thereof and to keep the Shelf Registration continuously effective under the Securities Act until the date which is 24 months from the Closing Date, or such shorter period ending when either (1) all Transfer Restricted
Securities covered by the Shelf Registration have been sold in the manner set forth and as contemplated in the Shelf Registration or (2) there ceases to be outstanding any Transfer Restricted Securities (the “Effectiveness Period”).

 (b) Supplements and Amendments. The Issuer shall use its reasonable best efforts to keep the Shelf Registration
Statement continuously effective by supplementing and amending the Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or
if reasonably requested by the holders of a majority in aggregate principal amount of the Transfer Restricted Securities covered by such Registration Statement or by any underwriter of such Transfer Restricted Securities. 

4. Liquidated Damages 

(a) The Issuer and the Purchasers agree that the Holders of Transfer Restricted Securities will suffer damages if the Issuer fails to
fulfill its obligations pursuant to Section 2 or Section 3 hereof and that it would not be possible to ascertain the extent of such damages. Accordingly, in the event of such failure by the Issuer to fulfill such obligations, the Issuer
hereby agrees to pay liquidated damages (“Liquidated Damages”) to each Holder of Transfer Restricted Securities under the circumstances and to the extent set forth below: 

(i) if neither the Exchange Registration Statement nor the Shelf Registration has been filed with the SEC on or prior to
the Filing Date; or 

  
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 (ii) if neither the Exchange Registration Statement nor the Shelf
Registration is declared effective by the SEC on or prior to the Effectiveness Target Date; or 
 (iii) if an
Exchange Registration Statement is declared effective by the SEC, on or prior to 290 days after the Closing Date and the Issuer has not exchanged Exchange Securities for all Securities validly tendered in accordance with the terms of the Exchange
Offer; or 
 (iv) the Shelf Registration has been declared effective by the SEC and such Shelf Registration
ceases to be effective or usable at any time during the Effectiveness Period, without being succeeded on the same day immediately by a post-effective amendment to such Registration Statement that cures such failure and that is itself immediately
declared effective on the same day; 
 (any of the foregoing, a “Registration Default”) then, with respect to the first 90-day period
following such Event Date (as defined below), the Issuer shall pay to each Holder of Transfer Restricted Securities Liquidated Damages in an amount equal to $.05 per week per $1,000 principal amount of Transfer Restricted Securities held by such
Holder for each week or portion thereof that the Registration Default continues. The amount of such Liquidated Damages will increase by an additional $.05 per week per $1,000 principal amount of Transfer Restricted Securities with respect to each
subsequent 90-day period until all Registration Defaults have been cured; provided, however, that Liquidated Damages shall not at any time exceed $.30 per week per $1,000 principal amount of Transfer Restricted Securities. Following the cure
of all Registration Defaults relating to any Transfer Restricted Securities, the accrual of Liquidated Damages with respect to such Transfer Restricted Securities will cease. A Registration Default under clause (i) above shall be cured on the
date that either the Exchange Registration Statement or the Shelf Registration is filed with the SEC; a Registration Default under clause (ii) above shall be cured on the date that either the Exchange Registration Statement or the Shelf
Registration is declared effective by the SEC; a Registration Default under clause (iii) above shall be cured on the earlier of the date (A) the Exchange Offer is consummated or (B) the Issuer delivers a Shelf Notice to the Holders of
Restricted Securities; and a Registration Default under clause (iv) above shall be cured on the earlier of (A) the date the Shelf Registration is declared effective or (B) the Effectiveness Period expires. 

(b) The Issuer shall notify the Trustee and the Representatives within one Business Day after each and every date on which a Registration
Default 

  
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occurs (an “Event Date”). Liquidated Damages shall be paid by the Issuer to the Holders by wire transfer of immediately available funds to the accounts specified by them or by mailing
checks to their registered addresses if no such accounts have been specified on or before the semi-annual interest payment date provided in the Indenture (whether or not any interest is then payable on the Securities). Each obligation to pay
Liquidated Damages shall be deemed to commence accruing on the applicable Event Date and to cease accruing when all Registration Defaults have been cured. In no event shall the Issuer pay Liquidated Damages in excess of the applicable maximum weekly
amount set forth above, regardless of whether one or multiple Registration Defaults exist. 
 (c) Notwithstanding anything to
the contrary in this Section 4, neither the issuance by the Issuer of a notice (i) of the type set forth in Section 5(c)(vii) declaring the Shelf Registration to be unusable during the pendency of the Material Activity (as defined in
Section 5(c)(vii)) nor (ii) of the type set forth in Section 5(c)(ii), 5(c)(iii), 5(c)(iv), 5(c)(v) and 5(c)(vi), shall be deemed to be a Registration Default and no Liquidated Damages shall be payable or accrue with respect thereto;
provided, that in the event the aggregate number of days in any consecutive twelve-month period for which all notices referenced above are issued and effective exceeds 30 days, then Liquidated Damages shall be payable in accordance with
Sections 4(a) and 4(b) above for the number of such days in excess of 30 days in the aggregate. 
 5. Registration Procedures 

In connection with the registration of any Exchange Securities or Transfer Restricted Securities pursuant to Sections 2 or 3 hereof, the
Issuer shall effect such registration to permit the sale of such Exchange Securities or Transfer Restricted Securities (as applicable) in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Issuer shall:

 (a) Prepare and file with the SEC, a Registration Statement or Registration Statements as prescribed by Section 2 or 3,
and to use its reasonable best efforts to cause such Registration Statement to become effective and remain effective as provided herein; provided that, if (1) such filing is pursuant to Section 3, or (2) a Prospectus contained
in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, before filing any
Registration Statement or Prospectus or any amendments or supplements thereto, the Issuer shall, if requested, furnish to and afford the Holders of the Transfer Restricted Securities and each such Participating Broker-Dealer, as the case may be,
covered by such Registration Statement, their counsel and the managing 

  
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underwriters, if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed
to be filed (at least 3 Business Days prior to such filing, or such later date as is reasonable under the circumstances). The Issuer shall not file any Registration Statement or Prospectus or any amendments or supplements thereto in respect of which
the Holders, pursuant to this Agreement, must be afforded an opportunity to review prior to the filing of such document, if the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities covered by such Registration
Statement, or such Participating Broker-Dealer, as the case may be, their counsel, or the managing underwriters, if any, shall reasonably object. 
 (b) Prepare and file with the SEC such amendments and post-effective amendments to each Shelf Registration or Exchange Registration Statement, as the case may be, as may be necessary to keep such
Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be, or such shorter period as will terminate when all Transfer Restricted Securities covered by such Registration Statement have
been sold; cause the related Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act; and comply with the
provisions of the Securities Act, the Exchange Act and the rules and regulations of the SEC promulgated thereunder applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such
Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a Participating Broker-Dealer covered by any such Prospectus; the Issuer shall be deemed not to have used its reasonable best efforts to keep a
Registration Statement effective during the Applicable Period if it voluntarily takes any action that would result in selling Holders of the Transfer Restricted Securities covered thereby or Participating Broker-Dealers seeking to sell Exchange
Securities not being able to sell such Transfer Restricted Securities or such Exchange Securities during that period, unless (i) such action is required by applicable law, or (ii) such action is taken by it in good faith and for valid
business reasons (not including avoidance of its obligations hereunder), including the acquisition or divestiture of assets. 

(c) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, notify the selling Holders of Transfer Restricted
Securities, or each known Participating Broker-Dealer, as the case may be, their counsel and the managing underwriters, if any, promptly and confirm such notice in writing, (i) when a 

  
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Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become
effective (including in such notice a written statement that any Holder may, upon request, obtain, without charge, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents
incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any preliminary
prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with sales of the Transfer Restricted Securities the representations and
warranties of the Issuer contained in any agreement (including any underwriting agreement) contemplated by Section 5(l) below cease to be true and correct, (iv) of the receipt by the Issuer of any notification with respect to the
suspension of the qualification or exemption from qualification of a Registration Statement or any of the Transfer Restricted Securities or the Exchange Securities to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction,
or the initiation of any proceeding for such purpose, (v) of the happening of any event or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed
to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, (vi) of the Issuer’s reasonable
determination that a post-effective amendment to a Registration Statement would be appropriate and (vii) if (A) the Issuer is engaged in or proposes to engage in discussions or negotiations with respect to, or has proposed or taken a
substantial step to commence, or there is otherwise pending, any material merger, acquisition, tender offer, financing or other transaction (any such negotiation, step, event or state of facts being herein called a “Material Activity”),
(B) such Material Activity would, in the reasonable opinion of counsel of the Issuer, require disclosure in a prospectus to be delivered in connection with the sale of the Transfer Restricted Securities to be sold in compliance with law, and
(C) such disclosure would, in the reasonable judgment of the Issuer, be adverse to its interests; provided, that the Issuer shall have no obligation to include in any notice contemplated in (vii) above any reference to or
description of the facts upon which the Issuer is delivering such notice. 

  
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 (d) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a
Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period,
use its best efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of
any of the Transfer Restricted Securities or the Exchange Securities (as applicable) to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such order is issued, to use its reasonable best efforts to obtain the
withdrawal of any such order at the earliest possible moment. 
 (e) If a Shelf Registration is filed pursuant to Section 3
and if requested by the managing underwriters, if any, or the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold in connection with an underwritten offering, (i) promptly incorporate in a
prospectus supplement or post-effective amendment such information as the managing underwriters, if any, or such Holders or counsel reasonably request to be included therein, (ii) make all required filings of such prospectus supplement or such
post-effective amendment as soon as practicable after the Issuer has received notification of the matters to be incorporated in such prospectus supplement or post-effective amendment, and (iii) supplement or make amendments to such Registration
Statement with such information as the managing underwriter, if any, or such Holders or counsel reasonably request to be included therein. 
 (f) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be
delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, furnish to each selling Holder of Transfer Restricted Securities and to each such Participating Broker-Dealer
who so requests and to counsel and each managing underwriter, if any, without charge, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment thereto, including financial statements and
schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits. 

(g) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, deliver to each selling Holder of Transfer
Restricted Securities, or each such 

  
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Participating Broker-Dealer, as the case may be, their counsel, and the underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses (including each form of preliminary
prospectus) and each amendment or supplement thereto and any documents incorporated by reference therein as such Persons may reasonably request; and, subject to the last paragraph of this Section 5, the Issuer hereby consents to the use of such
Prospectus and each amendment or supplement thereto by each of the selling Holders of Transfer Restricted Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers (if any), in
connection with the offering and sale of the Transfer Restricted Securities covered by or the sale by Participating Broker-Dealers of the Exchange Securities pursuant to such Prospectus and any amendment or supplement thereto. 

(h) Prior to any public offering of Transfer Restricted Securities or any delivery of a Prospectus contained in the Exchange Registration
Statement by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, to use its reasonable best efforts to register or qualify, and to cooperate with the selling Holders of Transfer Restricted Securities
or each such Participating Broker-Dealer, as the case may be, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Transfer
Restricted Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as any selling Holder, Participating Broker-Dealer, or the managing underwriters, if any, reasonably request in writing, provided that where
Exchange Securities held by Participating Broker-Dealers or Transfer Restricted Securities are offered other than through an underwritten offering, the Issuer agrees to cause its counsel to perform Blue Sky investigations and file registrations and
qualifications required to be filed pursuant to this Section 5(h); keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all
other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Exchange Securities held by Participating Broker-Dealers or the Transfer Restricted Securities covered by the applicable Registration
Statement; provided that the Issuer shall not be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any
such jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar amount in any such jurisdiction. 
 (i) If a Shelf Registration is filed pursuant to Section 3, cooperate with the selling Holders of Transfer Restricted Securities and the managing underwriters, if any, to facilitate the timely
preparation and delivery of certificates representing Transfer Restricted Securities to be sold, which certificates shall not bear 

  
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any restrictive legends and shall be in a form eligible for deposit with The Depository Trust Company, and enable such Transfer Restricted Securities to be in such denominations and registered in
such names as the managing underwriters, if any, or Holders may reasonably request. 
 (j) If (1) a Shelf Registration is
filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell
Exchange Securities during the Applicable Period, upon the occurrence of any event contemplated by paragraph 5(c)(v) or 5(c)(vi) above, as promptly as practicable prepare and (subject to Section 5(a) above) file with the SEC, at the expense of
the Issuer, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that,
as thereafter delivered to the purchasers of the Transfer Restricted Securities being sold thereunder or to the purchasers of the Exchange Securities to whom such Prospectus will be delivered by a Participating Broker-Dealer, any such Prospectus
will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(k) Prior to the effective date of the first Registration Statement relating to the Transfer Restricted Securities, (i) provide the
Trustee with certificates for the Transfer Restricted Securities in a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Transfer Restricted Securities. 

(l) In connection with an underwritten offering of Transfer Restricted Securities pursuant to a Shelf Registration, enter into an
underwriting agreement as is customary in underwritten offerings and take all such other actions as are reasonably requested by the managing underwriters in order to expedite or facilitate the registration or the disposition of such Transfer
Restricted Securities, and in such connection, (i) make such representations and warranties to the underwriters, with respect to the business of the Issuer and its subsidiaries and the Registration Statement, Prospectus and documents, if any,
incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings, and confirm the same if and when requested; (ii) obtain opinions of counsel to the
Issuer and updates thereof in form and substance reasonably satisfactory to the managing underwriters, addressed to the underwriters covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as
may be reasonably requested by underwriters; (iii)

  
 15 

 
obtain “cold comfort” letters and updates thereof in form and substance reasonably satisfactory to the managing underwriters from the independent certified public accountants of the
Issuer (and, if necessary, any other independent certified public accountants of any subsidiary of the Issuer or of any business acquired by any of them for which financial statements and financial data are, or are required to be, included in the
Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings and such other
matters as are reasonably requested by underwriters as permitted by Statement on Auditing Standards No. 72; and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less
favorable than those set forth in Section 7 hereof (or such other provisions and procedures acceptable to Holders of a majority in aggregate principal amount of Transfer Restricted Securities covered by such Registration Statement and the
managing underwriters or agents) with respect to all parties to be indemnified pursuant to said Section. The above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder. 

(m) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, make available for inspection by any selling
Holder of such Transfer Restricted Securities being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Transfer Restricted Securities, if any, and any attorney, accountant or
other agent retained by any such selling Holder or each such Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the offices where normally kept, during reasonable business hours, all
financial and other records, pertinent corporate documents and properties of the Issuer and its subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any applicable due diligence
responsibilities, and cause the officers, directors and employees of the Issuer and its subsidiaries to supply all information in each case reasonably requested by any such Inspector in connection with such Registration Statement. Records which the
Issuer determines, in good faith, to be confidential and any Records which it notifies the Inspectors are confidential shall not be disclosed by the Inspectors, unless (i) the disclosure of such Records is necessary to avoid or correct a
misstatement or omission in such Registration Statement, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or (iii) the information in such Records has been made
generally available to the public. 

  
 16 

 (n) Provide an indenture trustee for the Transfer Restricted Securities or the Exchange
Securities, as the case may be, and cause the Indenture to be qualified under the TIA not later than the effective date of the Exchange Offer or the first Registration Statement relating to the Transfer Restricted Securities; and in connection
therewith, cooperate with the trustee under any such indenture and the holders of the Transfer Restricted Securities, to effect such changes to such indenture as may be required for such indenture to be so qualified in accordance with the terms of
the TIA; and execute, and use its best efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such indenture to be so qualified
in a timely manner. 
 (o) Comply with all applicable rules and regulations of the SEC and, as soon as reasonably practicable,
make generally available to its securityholders consolidated earnings statements of the Issuer (including a condensed consolidating footnote if required under SEC rules) (which need not be certified by an independent public accountant) that satisfy
the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder. 
 (p) If an Exchange Offer is to be
consummated, upon delivery of the Transfer Restricted Securities by Holders to the Issuer (or to such other Person as directed by the Issuer) in exchange for the Exchange Securities, the Issuer shall mark, or cause to be marked, on such Transfer
Restricted Securities that such Transfer Restricted Securities are being cancelled in exchange for the Exchange Securities; in no event shall such Transfer Restricted Securities be marked as paid or otherwise satisfied. 

(q) Cooperate with each seller of Transfer Restricted Securities covered by any Registration Statement and each underwriter, if any,
participating in the disposition of such Transfer Restricted Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority (“FINRA”) pursuant to FINRA’s
rules and regulations, including those of the National Association of Securities Dealers, Inc. 
 (r) Use its best efforts to
take all other steps necessary to effect the registration of the Transfer Restricted Securities covered by a Registration Statement contemplated hereby. 
 (s) Use its best efforts to cause the Transfer Restricted Securities or the Exchange Securities, as applicable, covered by an effective registration statement required by Section 2 or Section 3
hereof to be rated with the appropriate rating 

  
 17 

 
agencies, if so requested by the Holders of a majority in aggregate principal amount of Transfer Restricted Securities relating to such registration statement or the managing underwriters in
connection therewith, if any. 
 The Issuer may require each seller of Transfer Restricted Securities or Participating
Broker-Dealer as to which any registration is being effected to furnish to the Issuer such information regarding such seller or Participating Broker-Dealer and the distribution of such Transfer Restricted Securities or Exchange Securities to be sold
by such Participating Broker-Dealer, as the case may be, as the Issuer may, from time to time, reasonably request. The Issuer may exclude from such registration the Transfer Restricted Securities of any seller or Participating Broker-Dealer who
fails to furnish such information within a reasonable time after receiving such request. 
 Each Holder of Transfer Restricted
Securities and each Participating Broker-Dealer agrees by acquisition of such Transfer Restricted Securities or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, that, upon receipt of any notice from the Issuer
of the happening of any event of the kind described in Section 5(c)(ii), 5(c)(iv), 5(c)(v), 5(c)(vi) or 5(c)(vii), such Holder will forthwith discontinue disposition of such Transfer Restricted Securities covered by such Registration Statement
or Prospectus or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, until such holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(j), or until it is
advised in writing (the “Advice”) by the Issuer that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto; provided, that in the case of an event of the kind described
in Section 5(c)(vii), the Issuer may only cause such discontinuing of dispositions for any number of periods not to exceed 30 days in the aggregate in any consecutive 12-month period. 
 6. Registration Expenses 
 (a) All fees and expenses incident to the
performance of or compliance with this Agreement by the Issuer shall be borne by the Issuer, whether or not the Exchange Offer or a Shelf Registration is filed or becomes effective, including, without limitation, (i) all registration and filing
fees (including, without limitation, (A) fees with respect to filings required to be made with the FINRA in connection with an underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws (including,
without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Transfer Restricted Securities or Exchange Securities and determination of the eligibility of the Transfer Restricted Securities or
Exchange Securities for investment under the laws of such 

  
 18 

 
jurisdictions (x) where the Holders of Transfer Restricted Securities are located, in the case of the Exchange Securities, or (y) as provided in Section 5(h), in the case of
Transfer Restricted Securities or Exchange Securities to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses (including, without limitation, expenses of printing certificates for Transfer Restricted
Securities or Exchange Securities in a form eligible for deposit with The Depository Trust Company and of printing prospectuses if the printing of prospectuses is requested by the managing underwriters, if any, or, in respect of Transfer Restricted
Securities or Exchange Securities to be sold by any Participating Broker-Dealer during the Applicable Period, by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in any Registration Statement or
of such Exchange Securities, as the case may be), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Issuer, (v) fees and disbursements of all independent certified public accountants
referred to in Section 5(1)(iii) (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) the fees and expenses of any “qualified
independent underwriter” or other independent appraiser participating in an offering pursuant to FINRA Rule 5121, (vii) rating agency fees, (viii) Securities Act liability insurance, if the Issuer desires such insurance,
(ix) fees and expenses of all other Persons retained by the Issuer, (x) internal expenses of the Issuer (including, without limitation, all salaries and expenses of officers and employees of the Issuer performing legal or accounting
duties), (xi) the expense of any annual audit, (xii) the fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange and (xiii) the expenses relating to printing, word
processing and distributing all Registration Statements, underwriting agreements, securities sales agreements, and indentures. Nothing contained in this Section 6 shall create an obligation on the part of the Issuer to pay or reimburse any
Holder for any underwriting commission or discount attributable to any such Holder’s Transfer Restricted Securities included in an underwritten offering pursuant to a Registration Statement filed in accordance with the terms of this Agreement,
or to guarantee such Holder any profit or proceeds from the sale of such Securities. 
 (b) In connection with any Shelf
Registration hereunder, the Issuer shall reimburse the Holders of the Transfer Restricted Securities being registered in such registration for the reasonable fees and disbursements of not more than one counsel (in addition to appropriate local
counsel) chosen by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities to be included in such Registration Statement and other reasonable out-of-pocket expenses of the Holders of Transfer Restricted
Securities reasonably incurred in connection with the registration of the Transfer Restricted Securities. 

  
 19 

 7. Indemnification 
 The Issuer agrees to indemnify and hold harmless (i) each of the Purchasers, each Holder of Transfer Restricted Securities, each Holder of Exchange Securities, each Participating Broker-Dealer,
(ii) each person, if any, who controls (within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act) any such Person (any of the persons referred to in this clause (ii) being hereinafter referred to as a
“controlling person”), and (iii) the respective officers, directors, partners, employees, representatives and agents of any of such Person or any controlling person (any person referred to in clause (i), (ii) or (iii) may
hereinafter be referred to as an “Indemnified Person”) to the fullest extent lawful, from and against any and all losses, claims, damages, liabilities, judgments, actions and expenses (including without limitation, and as incurred,
reimbursement of all reasonable costs of investigating, preparing, pursuing or defending any claim or action, or any investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses
of counsel to any Indemnified Person) directly or indirectly caused by, related to, based upon, arising out of or in connection with (i) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement
or caused by, arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading, or (ii) any untrue statement or
alleged untrue statement of a material fact contained in any Prospectus (as amended or supplemented if the Issuer shall have furnished any amendments or supplements thereto) or any preliminary prospectus, or caused by, arising out of or based upon
any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims,
damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information relating to any Indemnified Person furnished to the Issuer or any underwriter in
writing by such Indemnified Person expressly for use therein. The Issuer shall notify the Holders promptly of the institution, threat or assertion of any claim, proceeding (including any governmental investigation) or litigation of which it shall
have become aware in connection with the matters addressed by this Agreement which involves the Issuer or an Indemnified Person. 
 In connection with any Registration Statement in which an Indemnified Person is participating, such Indemnified Person agrees, severally and not jointly, to indemnify and hold harmless the Issuer and its
directors and officers and each person who controls the Issuer within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the

  
 20 

 
Issuer to each Indemnified Person, but only with reference to information relating to such Indemnified Person furnished to the Issuer in writing by such Indemnified Person expressly for use in
any Registration Statement or Prospectus, any amendment or supplement thereto, or any preliminary prospectus. The liability of any Indemnified Person pursuant to this paragraph shall in no event exceed the net proceeds received by such Indemnified
Person from sales of Transfer Restricted Securities giving rise to such obligations. 
 If any suit, action, proceeding
(including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such person (the
“indemnified party”) shall promptly notify the person against whom such indemnity may be sought (the “indemnifying person”) in writing, and the indemnifying person, upon request of the indemnified party, shall retain counsel
reasonably satisfactory to the indemnified party to represent the indemnified party and any others the indemnifying person may reasonably designate in such proceeding and shall pay the reasonable fees and expenses actually incurred by such counsel
related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party, unless (i) the indemnifying
person and the indemnified party shall have mutually agreed in writing to the contrary, (ii) the indemnifying person failed promptly to assume the defense and employ counsel reasonably satisfactory to the indemnified party or (iii) the
named parties to any such action (including any impleaded parties) include both such indemnified party and the indemnifying person, or any affiliate of the indemnifying person and such indemnified party shall have been reasonably advised by counsel
that either (x) there may be one or more legal defenses available to it which are different from or additional to those available to the indemnifying person or such affiliate of the indemnifying person or (y) a conflict may exist between
such indemnified party and the indemnifying person or such affiliate of the indemnifying person (in which case the indemnifying person shall not have the right to assume the defense of such action on behalf of such indemnified party), it being
understood, however, that the indemnifying person shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be
liable for the fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) for all such indemnified parties, which firm shall be designated in writing by indemnified parties who sold a majority in interest of
Transfer Restricted Securities sold by all such indemnified parties and any such separate firm for the Issuer, its directors, its officers and such control persons of the Issuer shall be designated in writing by the Issuer. The indemnifying person
shall not be liable for any settlement of any proceeding effected 

  
 21 

 
without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying person agrees to indemnify any indemnified party from and against
any loss or liability by reason of such settlement or judgment. No indemnifying person shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened proceeding in respect of which any
indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an (i) unconditional release of such indemnified party from all liability on claims that
are the subject matter of such proceeding and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of any Indemnified Person. 

If the indemnification provided for in the first and second paragraphs of this Section 7 is unavailable to an indemnified party in
respect of any losses, claims, damages, liabilities, or expenses referred to therein (other than by reason of the exceptions provided therein), then each indemnifying person under such paragraphs, in lieu of indemnifying such indemnified party
thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities, or expenses (i) in such proportion as is appropriate to reflect the relative benefits of the
indemnified party on the one hand and the indemnifying person(s) on the other in connection with the statements or omissions that resulted in such losses, claims, damages, liabilities, or expenses or (ii) if the allocation provided by clause
(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the indemnifying person(s) and the indemnified
party, as well as any other relevant equitable considerations. The relative fault of the Issuer on the one hand and any Indemnified Persons on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuer or by such Indemnified Persons and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. 
 The parties agree that it would not be just and equitable if
contribution pursuant to this Section 7 were determined by pro rata allocation (even if such indemnified parties were treated as one entity for such purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be
deemed to include, subject to the limitations set forth above, any reasonable legal or other expenses actually incurred by 

  
 22 

 
such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall an Indemnified Person be
required to contribute any amount in excess of the amount by which proceeds received by such Indemnified Person from sales of Transfer Restricted Securities exceeds the amount of any damages that such Indemnified Person has otherwise been required
to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation. 
 The indemnity and contribution agreements contained in this
Section 7 will be in addition to any liability which the indemnifying persons may otherwise have to the indemnified parties referred to above. The Indemnified Persons’ obligations to contribute pursuant to Section 7 are several in
proportion to the respective principal amount of Securities sold by each of the Indemnified Persons hereunder and not joint. 
 8. Rules 144
and 144A 
 The Issuer covenants that it will file the reports required to be filed by it pursuant to the Securities Act and
the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner and, if at any time the Issuer is not required to file such reports, it will, upon the request of any Holder of Transfer Restricted Securities, make
available information required by Rules 144 and 144A under the Securities Act in order to permit sales pursuant to Rule 144 and Rule 144A. The Issuer further covenants that it will take such further action as any Holder of Transfer Restricted
Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Transfer Restricted Securities without registration under the Securities Act within the limitation of the exemptions provided by
(a) Rule 144 and Rule 144A under the Act, as such Rules may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. 
 9. Underwritten Registrations 
 (a) If any of the Transfer Restricted
Securities covered by any Shelf Registration are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will manage the offering will be selected by the Holders of a majority in aggregate
principal amount of such Transfer Restricted Securities included in such offering and reasonably acceptable to the Issuer. 
 No
Holder of Transfer Restricted Securities may participate in any underwritten registration hereunder, unless such Holder (a) agrees to sell such 

  
 23 

 
Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
 (b) Each Holder of Transfer Restricted Securities agrees, if requested (pursuant to a timely written notice) by the managing underwriters in an underwritten offering or placement agent in a private
offering of the Issuer’s debt securities, not to effect any private sale or distribution (including a sale pursuant to Rule 144 and Rule 144A, but excluding nonpublic sales to any of its affiliates, officers, directors, employees and
controlling persons) of any of the Securities except pursuant to an Exchange Offer, during the period beginning 10 days prior to, and ending 90 days after, the closing date of the underwritten offering. 

The foregoing provisions shall not apply to any holder of Transfer Restricted Securities if such holder is prevented by applicable
statute or regulation from entering into any such agreement. 
 The Issuer agrees without the written consent of the managing
underwriters in an underwritten offering of Transfer Restricted Securities covered by a Registration Statement filed pursuant to Section 3 hereof, not to effect any public or private sale or distribution of its debt securities, including a sale
pursuant to Regulation D or Rule 144A under the Securities Act, during the period beginning 10 days prior to, and ending 90 days after, the closing date of each underwritten offering made pursuant to such Registration Statement (provided,
however, that such period shall be extended by the number of days from and including the date of the giving of any notice pursuant to Section 5(c)(v) or (c)(vi) hereof to and including the date when each seller of Transfer Restricted
Securities covered by such Registration Statement shall have received the copies of the supplemented or amended Prospectus contemplated by Section 5(j) hereof). 
 10. Miscellaneous 
 (a) Remedies. In the event of a breach by the
Issuer of any of its obligations under this Agreement, each Holder of Transfer Restricted Securities, in addition to being entitled to exercise all rights provided herein, in the Indenture or, in the case of the Purchasers, in the Purchase
Agreement, or granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. The Issuer agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a
breach by it of any of the provisions 

  
 24 

 
of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate.

 (b) No Inconsistent Agreements. The Issuer has not, as of the date hereof, and it shall not, after the date of this
Agreement, enter into any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders of Transfer Restricted Securities in this Agreement or otherwise conflicts with the provisions hereof. The Issuer
has not entered, and will not enter, into any agreement with respect to any of its securities which will grant to any Person piggy-back registration rights with respect to a Registration Statement. 

(c) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Issuer has obtained the written consent of Holders of at least a majority of the then outstanding aggregate principal amount of
Transfer Restricted Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Transfer Restricted Securities whose securities are
being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Transfer Restricted Securities may be given by Holders of at least a majority in aggregate
principal amount of the Transfer Restricted Securities being sold by such Holders pursuant to such Registration Statement; provided that the provisions of this sentence may not be amended, modified or supplemented except in accordance with
the provisions of the immediately preceding sentence. 
 (d) Notices. All notices and other communications (including
without limitation any notices or other communications to the Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier, telecopier or electronic mail: 

(i) if to a Holder of Transfer Restricted Securities, at the most current address given by the Trustee to the Issuer; and

 (ii) if to the Issuer, 6903 Rockledge Drive, Suite 1500, Bethesda, Maryland 20817, Attention: Elizabeth A.
Abdoo, Executive Vice President, General Counsel and Secretary. 

  
 25 

 All such notices and communications shall be deemed to have been duly given: when delivered
by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and when receipt is acknowledged by the addressee, if
telecopied or given by electronic mail. 
 Copies of all such notices, demands or other communications shall be concurrently
delivered by the Person giving the same to the Trustee under the Indenture at the address specified in such Indenture. 
 (e)
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties, including without limitation and without the need for an express assignment, subsequent Holders of
Transfer Restricted Securities. The Issuer agrees that the Holders of the Securities shall be third party creditor beneficiaries to the agreements made hereunder by the Purchasers and the Issuer and each Holder shall have the right to enforce such
agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights hereunder. 
 (f)
Counterparts. This Agreement 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. 
 (g) Headings. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof. 
 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAWS AND RULE 327(b) OF THE NEW YORK CIVIL PRACTICE LAWS AND RULES, AS APPLIED TO CONTRACTS
MADE AND PERFORMED WITHIN THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

(i) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set 

  
 26 

 
forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative
means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
 (j) Entire Agreement. This Agreement, together with the Purchase Agreement, is intended by the parties as a final expression of their agreement, and is intended to be a complete and exclusive
statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein. 
 (k) Securities Held by the Issuer or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Transfer Restricted Securities is required hereunder, Transfer
Restricted Securities held by the Issuer or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  
 27 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
 ISSUER: 

 

					
	HOST HOTELS & RESORTS, L.P.
		
	By:	 	HOST HOTELS & RESORTS, INC.,
		 	its General Partner
			
		 	By:	 	     /s/ Larry K. Harvey

		 	Name:	 	Larry K. Harvey
		 	Title:	 	Executive Vice President and
		 		 	Chief Financial Officer

 Signature Page to Series A Senior Notes Registration Rights Agreement 

			
	The foregoing Registration Rights Agreement
	is hereby confirmed and accepted
	as of the date first above written.
	
	Goldman, Sachs & Co.
	Deutsche Bank Securities Inc.
	J.P. Morgan Securities LLC
	Merrill Lynch, Pierce, Fenner & Smith
	                      Incorporated
		
	By:	 	     /s/ Michael Hickey

		 	    (Goldman, Sachs & Co.)
		
	By:	 	     /s/ Reza Akhavi

		 	    (Deutsche Bank Securities Inc.)
		
	By:	 	     /s/ David Harris

		 	    (Deutsche Bank Securities Inc.)
		
	By:	 	      /s/ Kenneth A. Lang

		 	    (J.P. Morgan Securities LLC)
		
	By:	 	     /s/ Michael Grimes

		 	     (Merrill Lynch, Pierce, Fenner & Smith
     Incorporated)

	
	 On behalf of each of the Initial Purchasers

 Signature Page to Series A Senior Notes Registration Rights AgreementOfficers' Certificate of the Company

 Exhibit 4.1 
 Sempra Energy 
 OFFICERS’ CERTIFICATE 

(Pursuant to Sections 201 and 301 of the Indenture) 
 March 23, 2012 
 The undersigned, Richard A. Vaccari, Vice President and
Treasurer, and Randall L. Clark, Secretary, respectively, of Sempra Energy, a California corporation (the “Company”), hereby certify as follows: 
 The undersigned, having read the appropriate provisions of the Indenture dated as of February 23, 2000 (the “Indenture”) between the Company and U.S. Bank National Association, as
successor Trustee to U.S. Bank Trust National Association (the “Trustee”), including Sections 201, 301 and 303 thereof and the definitions in such Indenture relating thereto, and certain other corporate documents and records,
and having made such examination and investigation as, in the opinion of the undersigned, each considers necessary to enable the undersigned to express an informed opinion as to whether or not the conditions set forth in the Indenture relating to
the establishment of the terms of the offering of $600,000,000 of the Company’s 2.30% Notes due 2017 (the “Notes”) and the form of certificate evidencing the Notes have been complied with, and whether the conditions in the
Indenture relating to the authentication and delivery by the Trustee of the Notes have been complied with, certify that (1) the terms of the Notes were established by the undersigned pursuant to authority delegated to them by resolutions duly
adopted by the Board of Directors of the Company on September 9, 2008 and November 10, 2009 (collectively, the “Resolutions”) and such terms are as set forth in Annex I hereto, (2) the form of certificate
evidencing the Notes was established by the undersigned pursuant to authority delegated to them by the Resolutions and shall be in substantially the form attached as Annex II hereto, (3) a true, complete and correct copy of the
Resolutions, which were duly adopted by the Board of Directors of the Company and are in full force and effect on the date hereof, are attached as an exhibit to the Certificate of the Secretary of the Company of even date herewith, and (4) the
form and terms of the Notes have been established pursuant to Sections 201 and 301 of the Indenture and comply with the Indenture and, in the opinion of the undersigned, all conditions provided for in the Indenture (including, without limitation,
those set forth in Sections 201, 301 and 303 of the Indenture) relating to the establishment of the terms of the Notes and the form of certificate evidencing the Notes, and relating to the execution, authentication and delivery of the Notes, have
been complied with. 
 This certificate may be executed by the parties hereto in counterparts, each of which when so executed
shall be deemed to be an original, with the same effect as if the signatures thereto and hereto were on the same instrument, but all such counterparts shall together constitute but one and the same instrument. 

(Signature Page Follows) 

  
 1 

 IN WITNESS WHEREOF, we have hereunto set our hands as of the date first written above.

  

	
	 /s/ Richard A. Vaccari

	Richard A. Vaccari
	Vice President and Treasurer
	
	 /s/ Randall L. Clark

	Randall L. Clark
	Secretary

 ANNEX I 
 Capitalized terms used in this Annex I and not otherwise defined herein have the same definitions as in the Indenture referred to in the Officers’ Certificate of which this Annex I
constitutes a part. 
 (1) A single series of securities (the “Securities”) is established hereby and shall be
known and designated as the “2.30% Notes due 2017”. 
 (2) The aggregate principal amount of the Securities of such
series which may be authenticated and delivered under the Indenture is limited to $600,000,000, except for Securities of such series authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of
the same series pursuant to Sections 304, 305, 306, 906 or 1106 of the Indenture and except for any Securities of such series which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered under
the Indenture. However, such series may be re-opened by the Company for the issuance of additional Securities of such series, so long as any such additional Securities (i) have the same form and terms (other than date of issuance and, if
applicable, the date from which interest thereon shall begin to accrue), and carry the same right to receive accrued and unpaid interest (if any), as the Securities of such series theretofore issued and (ii) shall form a single series with the
Securities of such series theretofore issued and provided that such additional Securities are fungible with the Securities of such series theretofore issued for United States Federal income tax purposes; provided, however, that, notwithstanding the
foregoing, such series may not be re-opened if the Company has effected defeasance with respect to the Securities of such series pursuant to Section 1302 of the Indenture or has effected satisfaction and discharge with respect to the Securities
of such series pursuant to Section 401 of the Indenture. 
 (3) The Securities of such series are to be issued only as
registered securities without coupons. The Securities of such series shall be issued in book-entry form and represented by one or more global Securities (the “Global Securities”) of such series, the initial depositary (the
“Depositary”) for the Global Securities of such series shall be The Depository Trust Company and the depositary arrangements shall be those employed by whoever shall be the Depositary with respect to the Global Securities of such
series from time to time. Notwithstanding the foregoing, certificated Securities of such series in definitive form may be issued in exchange for Global Securities of such series under the circumstances contemplated by Section 305 of the
Indenture. 
 (4) The Securities shall be sold by the Company to the several underwriters (the “Underwriters”)
named in Schedule I to the Underwriting Agreement dated March 20, 2012 between the Company and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC (the
“Underwriting Agreement”), at a price equal to 99.348% of the principal amount of the Securities and the initial price to the public of the Securities shall be 99.948% of the principal amount of the Securities (plus accrued and
unpaid interest, if any), and underwriting discounts and commissions shall be 0.600% of the principal amount of the Securities. 

(5) The Securities shall not be repayable or redeemable at the option of the Holders prior to the applicable Stated Maturity of the
principal thereof (except as provided in Article V of the Indenture) and shall not be subject to a sinking fund or analogous provision. 
 (6) The Borough of Manhattan, The City of New York is hereby designated as a Place of Payment for the Securities of such series. 

  
 Annex I-1

 (7) The Company hereby appoints the Trustee, acting through its Corporate Trust Office in
the Borough of Manhattan, The City of New York, as the Company’s agent for the purposes specified in Section 1002 of the Indenture; provided, however, subject to Section 1002 of the Indenture, the Company may at any time remove the
Trustee as its office or agency in the Borough of Manhattan, The City of New York designated for such purposes and may from time to time designate one or more other offices or agencies for such purposes and may from time to time rescind such
designation, so long as the Company shall at all times maintain an office or agency for such purposes in the Borough of Manhattan, The City of New York. 
 (8) The Securities of such series shall be issued in denominations of $2,000 and integral multiples of $1,000. 
 (9) The principal of, premium, if any, and interest on the Securities of such series shall be payable in U.S. Dollars. 
 (10) Section 1303 of the Indenture shall not apply to the Securities of such series. 
 (11) The Securities of such series shall not be convertible into or exchangeable for other securities. 
 (12) Anything in the Indenture or the Securities of such series to the contrary notwithstanding, payments of the principal of and premium, if any, and interest on the Global Securities of such series
shall be made by wire transfer to the Depositary or its nominee or to any successor depositary or nominee, whichever shall be the registered Holder of such Global Securities of such series from time to time. 

(13) To the extent that any provision of the Indenture or the Securities of such series provides for the payment of interest on overdue
principal of, or premium, if any, or interest on, the Securities of such series, then, to the extent permitted by law, interest on such overdue principal, premium, if any, and interest shall accrue at the rate of interest borne by the Securities of
such series. 
 (14) The Securities of such series shall have such other terms and provisions as are set forth in the form of
certificate evidencing the Securities of such series attached as Annex II to this Officers’ Certificate of which this Annex I constitutes a part, all of which terms and provisions are incorporated by reference in and made a part of this
Annex I as if set forth in full herein. 
 (15) As used in the Indenture with respect to the Securities of such series and
in the certificates evidencing the Securities of such series, all references to “premium” on the Securities of such series shall mean any amounts (other than accrued interest) payable upon the redemption of any Securities of such series in
excess of 100% of the principal amount of such Securities. 
 (16) Insofar as Section 501 of the Indenture is applicable to
the Securities of such series, subsection (5)(b) of Section 501 of the Indenture is hereby deleted in its entirety and replaced with the following text: 
 “(b) the principal amount of such indebtedness, together with the principal amount of any other such indebtedness in default for failure to pay any such indebtedness when due or the maturity of which
has been so accelerated, aggregates at least $100 million; or”. 

  
 Annex I-2

 ANNEX II 
 Form of Certificate Evidencing the 2.30% Notes due 2017 

 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY 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 IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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. 
 SEMPRA ENERGY 
  

			
		 	$                    
	No.     	 	CUSIP No. 816851 AS8
		 	ISIN No. US816851AS80

 Sempra Energy, a corporation duly organized and existing under the laws of the State of California
(herein called the “Corporation,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or registered assigns, the principal sum of
$                    on April 1, 2017 (the “Maturity Date”), and to pay interest thereon from March 23, 2012 or from the
most recent date to which interest has been paid or duly provided for, semi-annually in arrears on April 1 and October 1 in each year (each, an “Interest Payment Date”), commencing October 1, 2012 and on the Maturity
Date at the rate of 2.30% per annum, until the principal hereof is paid or made available for payment, provided that any principal hereof or (to the extent that the payment of such interest shall be legally enforceable) premium, if any,
or interest hereon which is not paid when due shall bear interest at the rate of 2.30% per annum from the respective dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand.

 Interest on this Security shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. The interest
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the March 15 or September 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. Any such interest not so punctually paid or
duly provided for on any Interest Payment Date will forthwith cease to be payable to the Holder on such 

  
 ANNEX II-1

 
Regular Record Date by virtue of having been such Holder and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said
Indenture. 
 Payment of the principal of (and premium, if any) and interest on this Security will be made at the office or
agency of the Corporation maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that at the option of the Corporation payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer at such
place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the Person entitled thereto. Notwithstanding the foregoing, so long as the
Holder of this Security is the Depositary or its nominee, payment of the principal of (and premium, if any) and interest on this Security will be made by wire transfer of immediately available funds. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 Annex II-2

 IN WITNESS WHEREOF, the Corporation has caused this instrument to be duly executed.

  

			
	SEMPRA ENERGY
		
	By:	 	  

	Name:
	Title:

  

			
	Attest:
		
	By:	 	  

	Name:
	Title:

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

			
	U.S. BANK NATIONAL ASSOCIATION
	
	 As successor Trustee to
 U.S. Bank Trust National Association

		
	By:	 	  

		 	Authorized Signatory

 Dated: 

  
 Annex II-3

 (REVERSE OF SECURITY) 
 This Security is one of a duly authorized issue of securities of the Corporation (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated
as of February 23, 2000 (herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Corporation and U.S. Bank National Association, as successor trustee to U.S. Bank Trust
National Association (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitation of rights, duties
and immunities thereunder of the Corporation, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof,
initially limited (subject to exceptions provided in the Indenture) in aggregate principal amount to $                    . 

All or a portion of the Securities of this series may be redeemed at the Corporation’s option at any time or from time to time at a
Redemption Price calculated as provided below. 
 The Redemption Price for the Securities of this series to be redeemed on any
Redemption Date will be equal to the greater of the following amounts: (a) 100% of the principal amount of the Securities being redeemed on that Redemption Date; or (b) the sum of the present values of the remaining scheduled payments of
principal and interest on the Securities being redeemed on that Redemption Date (not including any portion of any payments of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis at the Adjusted Treasury
Rate (as defined below) plus 20 basis points, as determined by the Independent Investment Banker (as defined below), plus, in each case, accrued and unpaid interest on the Securities to be redeemed to the Redemption Date. Notwithstanding the
foregoing, installments of interest on Securities of this series that are due and payable on any Interest Payment Date falling on or prior to a Redemption Date will be payable on that Interest Payment Date to the Holders of such Securities as of the
close of business on the Regular Record Date immediately preceding such Interest Payment Date, according to the Securities of this series and Indenture. The Redemption Price will be calculated on the basis of a 360-day year consisting of twelve
30-day months. 
 The Corporation will mail notice of any redemption at least 30 days but not more than 60 days before the
Redemption Date to each Holder of the Securities of this series to be redeemed. Once notice of redemption is mailed, the Securities of this series called for redemption will become due and payable on the Redemption Date at the applicable Redemption
Price, plus accrued and unpaid interest to the Redemption Date, and will be paid upon surrender thereof for redemption. If the Corporation elects to redeem all or a portion of the Securities of this series, that redemption will not be conditional
upon receipt by the Paying Agent or the Trustee of monies sufficient to pay the Redemption Price. 
 Unless the Corporation
defaults in payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on the Securities of this series or portions thereof called for redemption. 

“Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by
the Independent Investment Banker as having a maturity comparable to the 

  
 Annex II-4

 
remaining term of the Securities of this series to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of such Securities. 
 “Comparable Treasury
Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date or (B) if only one Reference Treasury Dealer Quotation is received, such quotation.

 “Independent Investment Banker” means, with respect to any Redemption Date, one of the Reference Treasury
Dealers appointed by the Corporation to act as the “Independent Investment Banker.” 
 “Reference Treasury
Dealer” means, with respect to any Redemption Date, (A) J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and a Primary Treasury Dealer (as defined herein) selected by Wells Fargo Securities, LLC
(or their respective affiliates which are Primary Treasury Dealers), and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in the United States (a
“Primary Treasury Dealer”), the Corporation will substitute therefor another Primary Treasury Dealer; and (B) any other Primary Treasury Dealer(s) selected by the Corporation. 

“Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Corporation, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Corporation by such Reference Treasury Dealer at 5:00
p.m. (New York City time) on the third Business Day preceding such Redemption Date. As used in the preceding sentence, “Business Day” means any day (other than a Saturday or Sunday) on which banking institutions in the City of New
York are not authorized or obligated by law or executive order to remain closed. 
 In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor in an aggregate principal amount equal to the unredeemed portion of the principal hereof will be issued in the name of the Holder hereof upon the cancellation hereof.

 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security upon compliance with
certain conditions set forth in the Indenture. 
 If an Event of Default with respect to the Securities of this series shall
occur and be continuing, the principal of and accrued and unpaid interest on the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Corporation and the rights of the Holders of the Securities of each series affected under the Indenture at any time by the Corporation and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities of each series at the time Outstanding affected thereby. The Indenture contains provisions permitting the Holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding with respect to
which a default under the Indenture shall have occurred and be continuing, on behalf of the Holders of all Securities of such series, to waive, with certain exceptions, such past default with respect to such series and its consequences. The
Indenture also permits the Holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Corporation with
certain provisions of the Indenture. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and 

  
 Annex II-5

 
upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder unless such Holder shall have previously given the Trustee written notice of a
continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee, such Holder or Holders shall have offered the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request, and the Trustee, for
60 days after its receipt of such notice, request and offer of indemnity, shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and
the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any
payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No
reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Corporation, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this
Security at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and
subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Corporation in any place where the
principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Corporation and the Security Registrar duly executed by, the Holder hereof or
his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor
of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for
any such registration of transfer or exchange, but the Corporation may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Corporation, the Trustee and any agent of the Corporation or
the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Corporation, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 This Security shall be governed by and construed in accordance with the laws of the State of New York, without
regard to conflict of law principles thereof. 

  
 Annex II-6

 All terms used in this Security which are defined in the Indenture and not defined herein
shall have the meanings assigned to them in the Indenture. 

  
 Annex II-7

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