Document:

EX-4.1

 Exhibit 4.1 
  

 
 Dated October 17, 2018 

Indenture 
 among 

Digital Stout Holding, LLC 

as Issuer 
 Digital Realty
Trust, L.P. 
 as the Company and a Guarantor 

Digital Realty Trust, Inc. 

as the General Partner and a Guarantor 

Deutsche Trustee Company Limited 

as the Trustee 
 Deutsche Bank
AG, London Branch 
 as Paying Agent and a Transfer Agent 

and 
 Deutsche Bank Luxembourg
S.A. 
 as Registrar and a Transfer Agent 

White & Case LLP 

5 Old Broad Street 
 London EC2N 1DW

  

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	 ARTICLE 1

DEFINITIONS AND INCORPORATION
 BY
REFERENCE
	  

 

 

		
	 Section 1.01    Definitions.
	  	 	1	 
	 Section 1.02    Other Definitions.
	  	 	8	 
	 Section 1.03    [Reserved]
	  	 	9	 
	 Section 1.04    Rules of Construction.
	  	 	9	 
	 ARTICLE 2

ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES
	  

 

		
	 Section 2.01    Designation Amount and Issue of Notes.
	  	 	9	 
	 Section 2.02    Form of Notes.
	  	 	10	 
	 Section 2.03    Date and Denomination of Notes; Payments of
Interest.
	  	 	11	 
	 Section 2.04    Execution of Notes.
	  	 	12	 
	 Section 2.05    Registrar, Paying Agents and Transfer
Agents.
	  	 	12	 
	 Section 2.06    Transfer and Exchange.
	  	 	13	 
	 Section 2.07    Mutilated, Destroyed, Lost or Stolen
Notes.
	  	 	20	 
	 Section 2.08    Temporary Notes.
	  	 	20	 
	 Section 2.09    Cancellation of Notes.
	  	 	21	 
	 Section 2.10    Common Code and ISIN Number.
	  	 	21	 
	 Section 2.11    Issuance of Additional Notes.
	  	 	21	 
	
	 ARTICLE 3

REDEMPTION OF NOTES
	  

 

		
	 Section 3.01    Optional Redemption of Notes.
	  	 	22	 
	 Section 3.02    Redemption upon Changes in Withholding
Tax.
	  	 	22	 
	 Section 3.03    Notice of Optional Redemption, Selection of
Notes.
	  	 	23	 
	 Section 3.04    Payment of Notes Called for Redemption by the
Issuer.
	  	 	24	 
	 Section 3.05    Sinking Fund.
	  	 	24	 
	
	 ARTICLE 4

PARTICULAR COVENANTS OF THE COMPANY
	  

 

		
	 Section 4.01    Payment of Notes.
	  	 	24	 
	 Section 4.02    Maintenance of Office or Agency.
	  	 	24	 
	 Section 4.03    Appointments to Fill Vacancies in Trustee’s
Office.
	  	 	25	 
	 Section 4.04    Provisions as to the Agents.
	  	 	25	 
	 Section 4.05    Existence.
	  	 	26	 
	 Section 4.06    Reports.
	  	 	26	 
	 Section 4.07    Stay, Extension and Usury Laws.
	  	 	27	 
	 Section 4.08    Compliance Certificate.
	  	 	27	 
	 Section 4.09    Taxes.
	  	 	28	 
	 Section 4.10    Limitations on Incurrence of
Indebtedness.
	  	 	28	 
	 Section 4.11    Maintenance of Properties.
	  	 	29	 
	 Section 4.12    Insurance.
	  	 	29	 
	 Section 4.13    Maintenance of Listing.
	  	 	29	 
	 Section 4.14    Payment of Additional Amounts.
	  	 	30	 
	 Section 4.15    Officers’ Certificate for Additional
Amounts.
	  	 	31	 
	
	 ARTICLE 5

[RESERVED]
	  

 

  
 i 

					
	 ARTICLE 6

REMEDIES OF THE TRUSTEE AND THE HOLDERS ON AN EVENT OF DEFAULT
	  

 

		
	 Section 6.01    Events of Default.
	  	 	31	 
	 Section 6.02    Payments of Notes on Default; Suit
Therefor.
	  	 	33	 
	 Section 6.03    Application of Monies Collected by
Trustee.
	  	 	35	 
	 Section 6.04    Proceedings by Holders.
	  	 	35	 
	 Section 6.05    Proceedings by Trustee.
	  	 	36	 
	 Section 6.06    Remedies Cumulative and Continuing.
	  	 	36	 
	 Section 6.07    Direction of Proceedings and Waiver of Defaults by
Majority of Holders.
	  	 	36	 
	 Section 6.08    Notice of Defaults.
	  	 	37	 
	 Section 6.09    Undertaking to Pay Costs.
	  	 	37	 
	
	 ARTICLE 7

THE TRUSTEE
	  

 

		
	 Section 7.01    Duties and Responsibilities of Trustee.
	  	 	37	 
	 Section 7.02    Reliance on Documents, Opinions, etc.
	  	 	38	 
	 Section 7.03    No Responsibility for Recitals, etc.
	  	 	40	 
	 Section 7.04    Trustee, Paying Agents, Transfer Agent or
Registrar May Own Notes.
	  	 	40	 
	 Section 7.05    Monies to Be Held by the Trustee and
Agents.
	  	 	40	 
	 Section 7.06    Compensation and Expenses of Trustee and the
Agents.
	  	 	40	 
	 Section 7.07    Officers’ Certificate as Evidence.
	  	 	41	 
	 Section 7.08    Conflicting Interests of Trustee.
	  	 	41	 
	 Section 7.09    Eligibility of Trustee.
	  	 	41	 
	 Section 7.10    Resignation or Removal of Trustee and
Agents.
	  	 	41	 
	 Section 7.11    Acceptance by Successor Trustee.
	  	 	42	 
	 Section 7.12    Succession by Merger.
	  	 	42	 
	
	 ARTICLE 8

THE HOLDERS
	  

 

		
	 Section 8.01    Action by Holders.
	  	 	43	 
	 Section 8.02    Proof of Execution by Holders.
	  	 	43	 
	 Section 8.03    Absolute Owners.
	  	 	43	 
	 Section 8.04    Issuer-owned Notes Disregarded.
	  	 	44	 
	 Section 8.05    Revocation of Consents; Future Holders
Bound.
	  	 	44	 
	
	 ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER
	  

 

		
	 Section 9.01    Without Consent of Holders of Notes.
	  	 	44	 
	 Section 9.02    With Consent of Holders of Notes.
	  	 	45	 
	 Section 9.03    Effect of Supplemental Indenture.
	  	 	46	 
	 Section 9.04    Notation on Notes.
	  	 	46	 
	 Section 9.05    Evidence of Compliance of Supplemental Indenture
to Be Furnished to Trustee.
	  	 	46	 
	
	 ARTICLE 10

CONSOLIDATION, MERGER, SALE CONVEYANCE AND LEASE
	  

 

		
	 Section 10.01    Issuer May Consolidate on Certain Terms.
	  	 	46	 
	 Section 10.02    Issuer Successor to Be Substituted.
	  	 	47	 
	 Section 10.03    Guarantors May Consolidate on Certain
Terms.
	  	 	47	 
	 Section 10.04    Guarantor Successor to Be Substituted.
	  	 	48	 
	
	 ARTICLE 11

SATISFACTION AND DISCHARGE OF INDENTURE
	  

 

		
	 Section 11.01    Discharge of Indenture.
	  	 	48	 
	 Section 11.02    Deposited Monies to Be Held in Trust by
Trustee.
	  	 	49	 
	 Section 11.03    Paying Agent to Repay Monies Held.
	  	 	49	 
	 Section 11.04    Return of Unclaimed Monies.
	  	 	49	 
	 Section 11.05    Reinstatement.
	  	 	49	 

  
 ii 

					
	 ARTICLE 12

LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  

 

		
	 Section 12.01    Option to Effect Legal Defeasance or Covenant
Defeasance.
	  	 	50	 
	 Section 12.02    Legal Defeasance and Discharge.
	  	 	50	 
	 Section 12.03    Covenant Defeasance.
	  	 	50	 
	 Section 12.04    Conditions to Legal or Covenant
Defeasance.
	  	 	51	 
	 Section 12.05    Deposited Money to be Held in Trust; Other
Miscellaneous Provisions.
	  	 	52	 
	 Section 12.06    Repayment to the Issuer.
	  	 	52	 
	 Section 12.07    Reinstatement.
	  	 	52	 
	
	 ARTICLE 13

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  

 

		
	 Section 13.01    Indenture and Notes Solely Corporate
Obligations.
	  	 	53	 
	
	 ARTICLE 14

MEETINGS OF HOLDERS OF NOTES
	  

 

		
	 Section 14.01    Purposes for Which Meetings May Be
Called.
	  	 	53	 
	 Section 14.02    Call, Notice and Place of Meetings
	  	 	53	 
	 Section 14.03    Persons Entitled to Vote at Meetings
	  	 	54	 
	 Section 14.04    Quorum; Action
	  	 	54	 
	 Section 14.05    Determination of Voting Rights; Conduct and
Adjournment of Meetings
	  	 	54	 
	 Section 14.06    Counting Votes and Recording Action of
Meetings
	  	 	55	 
	
	 ARTICLE 15

GUARANTEES
	  

 

		
	 Section 15.01    Note Guarantee.
	  	 	55	 
	 Section 15.02    Execution and Delivery of Note
Guarantee.
	  	 	56	 
	 Section 15.03    Limitation of a Guarantor’s Liability;
Certain Bankruptcy Events.
	  	 	57	 
	 Section 15.04    Application of Certain Terms and Provisions to a
Guarantor.
	  	 	57	 
	
	 ARTICLE 16

MISCELLANEOUS PROVISIONS
	  

 

		
	 Section 16.01    Provisions Binding on Issuer’s and
Guarantors’ Successors
	  	 	58	 
	 Section 16.02    Official Acts by Successor Corporation
	  	 	58	 
	 Section 16.03    Addresses for Notices, etc
	  	 	58	 
	 Section 16.04    Governing Law.
	  	 	60	 
	 Section 16.05    Evidence of Compliance with Conditions Precedent,
Certificates to Trustee.
	  	 	60	 
	 Section 16.06    Legal Holidays.
	  	 	60	 
	 Section 16.07    [Reserved].
	  	 	60	 
	 Section 16.08    No Security Interest Created.
	  	 	60	 
	 Section 16.09    Benefits of Indenture.
	  	 	60	 
	 Section 16.10    Table of Contents, Headings, etc.
	  	 	61	 
	 Section 16.11    Authenticating Agent.
	  	 	61	 
	 Section 16.12    Execution in Counterparts.
	  	 	61	 
	 Section 16.13    Severability.
	  	 	62	 
	 Section 16.14    USA Patriot Act.
	  	 	62	 
	 Section 16.15    Submission to Jurisdiction
	  	 	62	 

  
 iii 

 EXHIBITS 
  

			
	Exhibit A1	  	FORM OF PERMANENT GLOBAL NOTE
	Exhibit A2	  	FORM OF TEMPORARY GLOBAL NOTE
	Exhibit B	  	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C	  	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit D	  	FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
	Exhibit E	  	FORM OF NOTATION OF GUARANTEE
	Exhibit F	  	FORM OF CERTIFICATE RE NON-U.S. STATUS
	Exhibit G	  	FORM OF DEPOSITARY’S CERTIFICATE

  

  
 iv 

 INDENTURE dated as of October 17, 2018 among Digital Stout Holding, LLC, a Delaware
limited liability company (the “Issuer”), Digital Realty Trust, L.P., a Maryland limited partnership (a “Guarantor” or the “Company”), Digital Realty Trust, Inc., a Maryland corporation (a
“Guarantor” or, in its capacity as general partner of the Company, the “General Partner”), Deutsche Trustee Company Limited, as trustee (the “Trustee”), Deutsche Bank AG, London Branch, as paying
agent and transfer agent (the “Paying Agent”) and Deutsche Bank Luxembourg S.A., as registrar and transfer agent (the “Registrar”). 

The Issuer, the Guarantors, the Trustee, the Paying Agent and the Registrar agree as follows for the benefit of each other and for the equal
and ratable benefit of the Holders (as defined below) of the £400,000,000 3.750% Guaranteed Notes due 2030 (the “Notes”): 

ARTICLE 1 
 DEFINITIONS AND
INCORPORATION 
 BY REFERENCE 

Section 1.01    Definitions. 

The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for all
purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. The words “herein,” “hereof,” “hereunder” and words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other Subdivision. The terms defined in this Article include the plural as well as the singular. 

“Acquired Indebtedness” means Indebtedness of a Person (a) existing at the time such Person becomes a Subsidiary or
(b) assumed in connection with the acquisition of assets from such Person, in each case, other than Indebtedness Incurred in connection with, or in contemplation of, such Person becoming a Subsidiary or such acquisition. Acquired Indebtedness
shall be deemed to be Incurred on the date of the related acquisition of assets from any Person or the date the acquired Person becomes a Subsidiary. 

“Additional Notes” means additional Notes (other than the Initial Notes) issued under this Indenture in accordance with
Sections 2.04, 2.11 and 4.10 hereof, as part of the same series as the Initial Notes. 
 “Affiliate” of any specified
Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control,” when used with respect to any
specified Person means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
 “Agent” means any
Registrar, co-registrar, transfer agent, Paying Agent or additional paying agent and authenticating agent. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note,
the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 
 “Bankruptcy
Law” means Title 11, U.S. Code or any similar federal, state or foreign law for the relief of debtors. 
 “Board of
Directors” means the board of directors of the General Partner or a committee of such board duly authorized to act for it hereunder. 

  
 1 

 “Business Day” means any day other than Saturday or Sunday on which
commercial banks and foreign exchange markets are open for business in New York and London. 
 “Capitalization Rate” means
8.25%. 
 “Clearstream” means Clearstream Banking, S.A. 

“Common Depositary” means the Person that is designated by Euroclear and Clearstream to act as the Common
Depositary for the Global Notes. Deutsche Bank AG, London Branch shall be the initial Common Depositary until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter, “Common
Depositary” shall mean or include such successor. 
 “Company” means Digital Realty Trust, L.P., a Maryland limited
partnership, and, subject to the provisions of Article 10, shall include its successors and assigns. 
 “Consolidated
EBITDA” means, for any period of time, without duplication, consolidated net income (loss) of the Company and its Consolidated Subsidiaries plus amounts which have been deducted and minus amounts which have been added for, without
duplication, (a) Interest Expense, (b) depreciation and amortization and other non-cash items deducted or added in arriving at net income (loss), (c) provision for taxes based on income or profits, (d) non-recurring or other unusual items, as determined by the Company in good faith (including, without limitation, all prepayment penalties and all costs or fees Incurred in connection with any debt financing
or amendment thereto, acquisition, disposition, recapitalization or similar transaction (regardless of whether such transaction is completed)), (e) extraordinary items, (f) non-controlling interests,
(g) the income or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting in accordance with GAAP, and (h) gains or losses on dispositions of depreciable real estate investments,
property valuation losses and impairment charges; provided, however, that in no event will Consolidated EBITDA include (x) net income (loss) (whether pursuant to the equity method of accounting or otherwise) on account of any of the
Company’s or its Consolidated Subsidiaries’ unconsolidated subsidiaries and other partially owned entities or (y) net income (loss) generated from the Company’s or its Consolidated Subsidiaries’ real property under
construction or Redevelopment Properties; provided, further, that all amounts for such period shall be reasonably determined by the Company in accordance with GAAP to the extent GAAP is applicable. Consolidated EBITDA will be adjusted,
without duplication, to give pro forma effect: (i) in the case of any assets having been placed in service or removed from service from the beginning of the period to the date of determination, to include or exclude, as the case may be, any
Consolidated EBITDA earned or eliminated as a result of the placement of the assets in service or removal of the assets from service as if the placement of the assets in service or removal of the assets from service occurred at the beginning of the
period; and (ii) in the case of any acquisition or disposition of any asset or group of assets from the beginning of the period to the date of determination, including, without limitation, by merger, or stock or asset purchase or sale, to
include or exclude, as the case may be, any Consolidated EBITDA earned or eliminated as a result of the acquisition or disposition of those assets as if the acquisition or disposition occurred at the beginning of the period. 

“Consolidated Financial Statements” means, with respect to any Person, collectively, the consolidated financial statements
and notes to those financial statements, of that Person and its Consolidated Subsidiaries prepared in accordance with GAAP. 

“Consolidated Subsidiary” means each Subsidiary of the Company that is consolidated in the Consolidated Financial Statements
of the Company. 
 “Corporate Trust Office” or other similar term, means the designated office of the Trustee at which, at
any particular time, its corporate trust business as it relates to this Indenture shall be administered, which office is, at the date as of which this Indenture is dated, located at Winchester House, 1 Great Winchester Street, London EC2N 2DB,
United Kingdom, or at any other time at such other address as the Trustee may designate from time to time by notice to the Issuer. 

  
 2 

 “Default” means any event that is, or after notice or with the passage of
time or the giving of notice or both would be, an Event of Default. 
 “Defaulted Interest” has the meaning specified in
Section 2.03. 
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued
in accordance with Section 2.06 hereof, substantially in the form of Exhibit A1 hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached
thereto. 
 “Depositary” means any of Euroclear, Clearstream and their respective nominees and successors. 

“Euroclear” means Euroclear Bank, SA/NV. 

“Event of Default” means any event specified in Section 6.01 as an Event of Default. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time.

 “General Partner” means Digital Realty Trust, Inc., a Maryland corporation, and, subject to the provisions of Article
10, shall include its successors and assigns. 
 “Global Exchange Market” means the exchange regulated market of the
Irish Stock Exchange. 
 “Global Note Legend” means the legend set forth in Section 2.06(f)(i) hereof, which is
required to be placed on all Global Notes issued under this Indenture. 
 “Global Notes” means, individually
and collectively, each of the Permanent Global Notes and the Temporary Global Note deposited with or on behalf of and registered in the name of the Common Depositary or its nominee, substantially in the form of Exhibit A1 or Exhibit A2 hereto,
respectively, and that bears the Permanent Global Note Legend or the Temporary Global Note Legend, as applicable, and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with this
Indenture. 
 “Guarantees” means, collectively, the full and unconditional guarantee provided by each Guarantor in respect
of the Notes as made applicable to the Notes in accordance with the provisions of Section 15.01 hereof and “Guarantee” shall have a corresponding meaning. 

“Guarantors” means the General Partner and the Company and each of their successors and assigns. 

“Holder” means a Person in whose name a Note is registered. 

  
 3 

 “Incur” means, with respect to any Indebtedness or other obligation of any
Person, to create, assume, guarantee or otherwise become liable in respect of the Indebtedness or other obligation, and “Incurrence” and “Incurred” have meanings correlative to the foregoing. Indebtedness or other obligation of
the Company or any Subsidiary of the Company will be deemed to be Incurred by the Company or such Subsidiary whenever the Company or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. Indebtedness or other
obligation of a Subsidiary of the Company existing prior to the time it became a Subsidiary of the Company will be deemed to be Incurred upon such Subsidiary becoming a Subsidiary of the Company; and Indebtedness or other obligation of a Person
existing prior to a merger or consolidation of such Person with the Company or any Subsidiary of the Company in which such Person is the successor to the Company or such Subsidiary will be deemed to be Incurred upon the consummation of such merger
or consolidation. Any issuance or transfer of capital stock that results in Indebtedness constituting Intercompany Indebtedness being held by a Person other than the Company, the General Partner or any Consolidated Subsidiary or any sale or other
transfer of any Indebtedness constituting Intercompany Indebtedness to a Person that is not the Company, the General Partner or any Consolidated Subsidiary, will be deemed, in each case, to be an Incurrence of Indebtedness that is not Intercompany
Indebtedness at the time of such issuance, transfer or sale, as the case may be. 
 “Indebtedness” of a Person means,
without duplication, any indebtedness of such Person, whether or not contingent, in respect of: (a) borrowed money evidenced by bonds, notes, debentures or similar instruments whether or not such indebtedness is secured by any lien existing on
property owned by such Person; (b) indebtedness for borrowed money of a Person other than such Person which is secured by any lien on property owned by such Person, to the extent of the lesser of (i) the amount of indebtedness so secured,
and (ii) the fair market value of the property subject to such lien; (c) the reimbursement obligations, contingent or otherwise, in connection with any letters of credit actually issued or amounts representing the balance deferred and
unpaid of the purchase price of any property or services, except any such balance that constitutes an accrued expense or trade payable; or (d) any lease of property by such Person as lessee which is reflected on such Person’s balance sheet
as a capitalized lease in accordance with GAAP. Indebtedness also includes, to the extent not otherwise included and without duplication, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise (other than for
purposes of collection in the ordinary course of business), indebtedness of another Person of the type described in clauses (a)-(d) of this definition.  

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

“Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 

“Initial Notes” means the first £400,000,000 aggregate principal amount of Notes issued under this Indenture on the
date hereof. 
 “Institutional Accredited Investor” means an institution that is an “accredited
investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs. 

“Intercompany Indebtedness” means Indebtedness to which the only parties are any of the Company, the
General Partner and any Consolidated Subsidiary; provided, however, that with respect to any such Indebtedness of which the Issuer, the Company or the General Partner is the borrower, such Indebtedness is subordinate in right of payment to
the Notes. 
 “interest” means, when used with reference to the Notes, any interest payable under the terms of the Notes.

 “Interest Expense” means, for any period of time, consolidated interest expense for such period of time, whether paid,
accrued or capitalized, without deduction of consolidated interest income, of the Company and the Consolidated Subsidiaries, including, without limitation or duplication, or, to the extent not so included, with the addition of (a) the portion
of any rental obligation in respect of any capital lease obligation allocable to interest expense in accordance with GAAP and (b) the amortization of Indebtedness discounts, but excluding prepayment penalties, in all cases as reflected in the
applicable Consolidated Financial Statements. 

  
 4 

 “Interest Period” means each period beginning on (and including) the issue
date or any interest payment date and ending on (but excluding) the next interest payment date. 
 “Irish Stock Exchange”
means the Irish Stock Exchange plc trading as Euronext Dublin. 
 “Listing Particulars” means the Issuer’s and
the Guarantors’ listing particulars dated October 10, 2018 relating to the Notes and the Issuer’s £400,000,000 3.750% Guaranteed Notes due 2030, all of which are unconditionally guaranteed by the Guarantors. 

“Make-Whole Premium” means, with respect to any Note redeemed before the
90th day prior to the Maturity Date, the excess, if any, of (a) the aggregate present value as of the date of such redemption of each pound sterling of principal of the Note being redeemed or
paid and the amount of interest (exclusive of interest accrued to the date of redemption) that would have been payable in respect of such pound sterling of principal if such redemption had been made on the 90th day prior to the Maturity Date, determined by discounting, such principal and interest at the Reinvestment Rate (determined on the third Business Day preceding the date such notice of redemption is
given) from the respective dates on which such principal and interest would have been payable if such redemption had been made on the 90th day prior to the Maturity Date; over (b) the
principal amount of such Note. For the avoidance of doubt, calculation of the Make-Whole Premium shall not be a duty or obligation of the Trustee or any Paying Agent. 

“Maturity Date” means October 17, 2030. 

“Non-U.S. Person” means a Person who is not a U.S. Person. 

“Note Guarantee” means the Guarantee by each Guarantor of the Issuer’s obligations under this Indenture and the Notes,
executed pursuant to the provisions of this Indenture. 
 “Notes” has the meaning assigned to it in the preamble to this
Indenture. The Initial Notes and the Additional Notes shall be treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional
Notes. 
 “Officer” means any person holding any of the following positions with the Issuer (if any)
or General Partner (as the case may be): the Chairman of the Board, the Chief Executive Officer, the President, any Vice President (whether or not designated by a number or numbers or word or words added before or after the title “Vice
President”), the Chief Financial Officer, the Treasurer, the Assistant Treasurer, the General Counsel, the Secretary and any Assistant Secretary. 

“Officers’ Certificate” means a certificate signed by any two Officers. 

“Opinion of Counsel” means an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Issuer,
or other counsel reasonably acceptable to the Trustee. 
 “outstanding”, when used with reference to Notes and subject to
the provisions of Section 8.04 hereof, means, as of any particular time, all Notes authenticated and delivered by the Trustee under this Indenture, except: 

(a)    Notes theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

(b)    Notes, or portions thereof, (i) for the redemption of which monies in the necessary amount shall have been
deposited in trust with the Trustee or with any Paying Agent (other than the Issuer or the Guarantors) or (ii) which shall have been otherwise discharged in accordance with Article 11; 

  
 5 

 (c)    Notes in lieu of which, or in substitution for which, other Notes
shall have been authenticated and delivered pursuant to the terms of Section 2.07; and 
 (d)    Notes paid or
redeemed pursuant to Article 3. 
 “Participant” means, with respect to the Depositary, a Person who has an account with
the Depositary. 
 “Permanent Global Note” means a permanent Global Note substantially in the form of Exhibit A1 hereto
bearing the Global Note Legend and deposited with or on behalf of and registered in the name of the Common Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Temporary Global Note upon expiration of
the Restricted Period. 
 “Person” means a corporation, an association, a partnership, a limited liability company, an
individual, a joint venture, a joint stock company, a trust, an unincorporated organization or a government or an agency or a political subdivision thereof. 

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note, and, for the purposes of this definition, any Note authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the same debt as the lost, destroyed or
stolen Note that it replaces. 
 “premium” means any premium payable under the terms of the Notes. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Record Date” has the meaning specified in Section 2.03. 

“Redemption Date” means, with respect to any Note or portion thereof to be redeemed in accordance with the provisions of
Section 3.01 or 3.02 hereof, the date fixed for such redemption in accordance with the provisions of Section 3.01 or 3.02, respectively, hereof. 

“Redemption Price” has the meaning provided in Section 3.01 hereof. 

“Redevelopment Property” means a property owned by the Company or a Consolidated Subsidiary (a) where the commenced
leased square footage is less than 60% of the sum of net rentable square feet and redevelopment space, with reasonable adjustments to leased square footage determined in good faith by the Company, including adjustments for available power, required
support space and common area and (b) that the Company reasonably characterizes as held in whole or in part for redevelopment. 

“Reference Gilt” means the 4.750% United Kingdom Gilt Treasury Stock due December 7, 2030 with ISIN GB00B24FF097. 

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

“Reinvestment Rate” means 0.30%, plus the yield to maturity as of such Redemption Date of the Reference Gilt (as compiled by
the United Kingdom Debt Management Office and published at least two Business Days in London prior to such Redemption Date); provided, however, that if the period from such Redemption Date to the Stated Maturity of the Notes being redeemed is less
than one year, the weekly average yield on the Reference Gilt adjusted to a fixed maturity of one year shall be used; provided further that if no such rate is available, a Similar Security will be chosen by an independent financial institution
appointed by the Issuer, which may include the Paying Agent, any of the managers named in the Listing Particulars or their respective affiliates who agree to serve in such capacity on the first Business Day in London preceding such Redemption Date,
quoted in writing by such financial institution to the Issuer. 

  
 6 

 “Responsible Officer” means, when used with respect to the Trustee, any
officer within the trust and securities services department of the Trustee with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter
is referred because of such person’s knowledge of or familiarity with the particular subject. 
 “Restricted Period”
means the 40-day distribution compliance period as defined in Regulation S.  

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

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

“SEC” means the Securities and Exchange Commission. 

“Secured Debt” means, as of any date, that portion of Total Outstanding Debt as of that date that is secured by a mortgage,
trust deed, deed of trust, deeds to secure Indebtedness, pledge, security interest, assignment for collateral purposes, deposit arrangement, or other security agreement, excluding any right of setoff but including, without limitation, any
conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and any other like agreement granting or conveying a security interest. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as in
effect from time to time. 
 “Significant Subsidiary” has the meaning specified in Section 6.01. 

“Similar Security” means a reference bond or reference bonds issued in respect of the Notes, by the United Kingdom
government, in each case, having an actual or interpolated maturity comparable with the remaining term of the Notes 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 the Notes. 
 “Stated Maturity,” with respect to
any Note or any installment of principal thereof or interest thereon, means the date established by or pursuant to this Indenture or such Note as the fixed date on which the principal of such Note or such installment of principal or interest is due
and payable. 
 “Subsidiary” means, with respect to any Person, (a) any corporation, association or other business
entity of which more than 50% of the total voting power of shares of capital stock or other equity interest entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the
time owned or controlled, directly or indirectly, by such Person or one or more of the other subsidiaries of that Person (or a combination thereof) and (b) any partnership (i) the sole general partner or managing general partner of which
is such Person or a Subsidiary of such Person or (ii) the only general partners of which are such Person or one or more subsidiaries of such Person (or any combination thereof). 

“Temporary Global Note” means a temporary Global Note in the form of Exhibit A2 hereto, bearing the Temporary Global Note
Legend and deposited with or on behalf of and registered in the name of the Common Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes initially sold in reliance on Rule 903 of
Regulation S. 

  
 7 

 “Temporary Global Note Legend” means the legend set forth in
Section 2.06(f)(ii) hereof, which is required to be placed on all Temporary Global Notes issued under this Indenture. 
 “Total
Assets” as of any date means the sum, without duplication, of (a) Consolidated EBITDA for the most recent quarterly period covered in the annual or quarterly report of the Company most recently furnished to Holders or filed with the
SEC, as the case may be and in accordance with Section 4.06 hereof, prior to such time, annualized (i.e., multiplied by four (4)), capitalized at the Capitalization Rate, (b) the undepreciated cost basis of the Company and the Consolidated
Subsidiaries’ real property under construction and Redevelopment Property as of the end of the quarterly period used for purposes of clause (a) above, in each case as determined by the Company in good faith, and (c) for all assets of
the Company and the Consolidated Subsidiaries other than the assets referred to in (a) and (b) above, the undepreciated book value as determined in accordance with GAAP (but excluding accounts receivable and intangible assets). 

“Total Outstanding Debt” means, as of any date, the sum, without duplication, of (a) the aggregate principal amount of
all outstanding Indebtedness of the Company as of that date, excluding Intercompany Indebtedness, and (b) the aggregate principal amount of all outstanding Indebtedness of the Consolidated Subsidiaries, all as of that date, excluding
Intercompany Indebtedness. 
 “Total Unencumbered Assets” means, as of any time, the sum of (a) Unencumbered
Consolidated EBITDA for the most recent quarterly period covered in the annual or quarterly report of the Company most recently furnished to Holders or filed with the SEC, as the case may be and in accordance with Section 4.06 hereof, prior to
such time, annualized (i.e., multiplied by four (4)), capitalized at the Capitalization Rate, and (b) to the extent not subject to any Secured Debt, the value of the assets described in clauses (b) and (c) of the definition of Total
Assets; provided, however, that all investments by the Company and its Subsidiaries in unconsolidated joint ventures, unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded
from Total Unencumbered Assets to the extent that such investments would have otherwise been included. 
 “Trustee” means
Deutsche Trustee Company Limited and its successors and any corporation resulting from or surviving any consolidation or merger to which it or its successors may be a party and any successor trustee at the time serving as successor trustee
hereunder. 
 “Unencumbered Consolidated EBITDA” means, for any quarter, Consolidated EBITDA for the most recent quarterly
period covered in the annual or quarterly report of the Company most recently furnished to Holders or filed with the SEC, as the case may be and in accordance with Section 4.06 hereof, prior to the time of determination less any portion thereof
attributable to any properties or assets subject to any Secured Debt, as determined in good faith by the Company. 
 “Unsecured
Debt” means that portion of Total Outstanding Debt that is not Secured Debt. 
 “U.S. Person” means a U.S. Person
as defined in Rule 902(k) promulgated under the Securities Act. 
 Section 1.02    Other Definitions. 

 

					
	 	  	Defined in	 
	 Term
	  	Section	 
	 “Authentication Order”
	  	 	2.01	 
	 “Benefited Party”
	  	 	15.01	 
	 “Covenant Defeasance”
	  	 	12.03	 
	 “Guarantee Obligations”
	  	 	15.01	 

  
 8 

					
	 	  	Defined in	 
	 Term
	  	Section	 
	 “Legal Defeasance”
	  	 	12.02	 
	 “Paying Agent”
	  	 	2.05	 
	 “Register”
	  	 	2.05	 
	 “Registrar”

“Relevant Taxing Jurisdiction”
	  	 
 
	2.05
 3.02
	 
  

 Section 1.03    [Reserved] 

Section 1.04    Rules of Construction. 

Unless the context otherwise requires: 

(i) a term has the meaning assigned to it; 

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

(iii) “or” is not exclusive; 

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

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

(vi) provisions apply to successive events and transactions; 

(vii) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of
successor sections or rules adopted by the SEC from time to time; and 
 (viii) all references to the principal, premium,
interest or any other amount payable pursuant to this Indenture shall be deemed also to refer to any additional amounts which may be payable hereunder in respect of payments of principal, premium, interest and any other amounts payable pursuant to
this Indenture or any undertakings given in addition thereto or in substitution therefor pursuant to this Indenture and an express reference to the payment of additional amounts in any provisions hereof shall not be construed as excluding additional
amounts in those provisions hereof where such express reference is not made. 
 ARTICLE 2 

ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 

Section 2.01    Designation Amount and Issue of Notes. 

The Notes shall be designated as £400,000,000 3.750% Guaranteed Notes due 2030. Upon the execution of this Indenture, and from time to
time thereafter, Notes may be executed by the Issuer and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver Notes upon a written order of the Issuer (an “Authentication Order”),
such order signed by two Officers without any further action by the Issuer hereunder. 
 The aggregate principal amount of Notes which may
be authenticated and delivered under this Indenture is unlimited; provided that upon initial issuance, the aggregate principal amount of Notes outstanding shall not exceed £400,000,000, except as provided in Sections 2.07 and 2.08.
The Issuer may, without notice to or consent of the Holders, issue Additional Notes from time to time in the future in an unlimited principal amount, subject to compliance with the terms of this Indenture. 

  
 9 

 Section 2.02    Form of Notes. 

(a)    Temporary Global Notes. Notes offered and sold will be issued initially in the form of the Temporary Global
Note, which will be deposited on behalf of the purchasers of the Notes represented thereby with, and registered in the name of, BT Globenet Nominees Limited as nominee for the Common Depositary for the accounts of designated agents holding on behalf
of Euroclear or Clearstream, duly executed by the Issuer and authenticated by the Trustee or the authenticating agent as hereinafter provided. The Restricted Period will be terminated upon the receipt by the Trustee of: 

(i)    a written certificate from Euroclear and Clearstream, substantially in the form of Exhibit G,
certifying that they have received certification of non-U.S. beneficial ownership in the form of Exhibit F of 100% of the aggregate principal amount of the Temporary Global Note; and 

(ii)    an Officers’ Certificate from the Issuer stating that the Restricted Period has been
terminated. 
 Following the termination of the Restricted Period, beneficial interests in the Temporary Global Note shall
be exchanged for beneficial interests in a Permanent Global Note pursuant to the Applicable Procedures, including the procedures set forth in Section 2.02(b). Upon the completion of such full exchange, simultaneously with the authentication of
the Permanent Global Note, the Trustee shall cancel the Temporary Global Note. 
 (b)    Euroclear and Clearstream
Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and
“Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the Temporary Global Note and the Permanent Global Note that are held by Participants through Euroclear or Clearstream. 

(c)    Permanent Global Notes and Global Notes Generally. Permanent Global Notes will be
substantially in the form of Exhibit A1 hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form will be printed in accordance with
applicable legal requirements and the requirements of the Irish Stock Exchange (from time to time) and will be substantially in the form of Exhibit A1 hereto (including the Definitive Note Legend thereon but without the Permanent Global Note Legend
thereon except to the extent included in the Definitive Note Legend and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such of the outstanding Notes as will be
specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time
be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby will be made
by the Trustee or the Common Depositary, at the direction of the Trustee in accordance with instructions given by the Holder as required by Section 2.06 hereof. The terms and provisions contained in the form of Note attached as Exhibit A1
hereto shall constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable, the Issuer, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and
provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

  
 10 

 Any of the Notes may have such letters, numbers or other marks of identification and such
notations, legends, endorsements or changes as the Officers executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required by the
Common Depositary or as may be required to comply with any applicable law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange or automated quotation system on which the Notes may be listed,
or to conform to usage, or to indicate any special limitations or restrictions to which any particular Notes are subject. 

Section 2.03    Date and Denomination of Notes; Payments of Interest. 

(a)    The Notes shall be issuable in registered form without coupons in minimum denominations of £100,000 principal
amount and integral multiples of £1,000 in excess thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of the form of Note attached as Exhibit A1 hereto. The amount of
interest payable in respect of each Note for any Interest Period shall be calculated by applying the interest rate to the principal amount of such Note and rounding the resulting figure to the nearest cent (half a cent being rounded upwards). Where
interest is to be calculated in respect of a period which is equal to or shorter than an Interest Period, the day-count fraction applied to calculate the amount of interest payable in respect of each Note
shall follow actual/actual (ICMA) basis and shall be the number of days in the relevant period from (and including) the date from which interest begins to accrue to (but excluding) the date on which it falls due, divided by the number of days in the
Interest Period in which the relevant period falls (including the first such day but excluding the last). 
 (b)    The
Person in whose name any Note (or its Predecessor Note) is registered on the Register at 5.00 p.m., London time, on any Record Date with respect to any interest payment date shall be entitled to receive the interest payable on such interest
payment date. Interest shall be payable at the office of the Issuer maintained by the Issuer for such purposes, which shall initially be an office or agency of the Trustee. The Issuer shall pay interest (i) on any Notes in certificated form by
check mailed to the address of the Person entitled thereto as it appears in the Register; provided, however, that a Holder of any Notes in certificated form in the aggregate principal amount of more than £3.0 million may specify by
written notice to the Issuer that it pay interest by wire transfer of immediately available funds to the account specified by the Holder in such notice, or (ii) on any Global Note by wire transfer of immediately available funds to the account
of the Common Depositary or its nominee. If a payment date is not a Business Day, payment shall be made on the next succeeding Business Day, and no additional interest shall accrue thereon. The term “Record Date” with respect to any
interest payment date shall mean the Business Day immediately preceding the applicable interest payment date. 
 Any interest on any Note
which is payable, but is not punctually paid or duly provided for, on any interest payment date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder registered as such on the relevant Record Date,
and such Defaulted Interest shall be paid by the Issuer, at its election in each case, as provided in clause (i) or (ii) below: 

(i) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or their
respective Predecessor Notes) are registered at 5.00 p.m., London time, on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount
of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment (which shall be not less than twenty-five (25) calendar days after the receipt by the Trustee of such notice, unless the Trustee shall consent to an
earlier date), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit
on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest 

  
 11 

 
as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not more than fifteen (15) calendar days and not
less than ten (10) calendar days prior to the date of the proposed payment, and not less than ten (10) calendar days after the receipt by the Trustee of the notice of the proposed payment (unless the Trustee shall consent to an earlier
date). The Trustee shall promptly notify the Issuer of such special record date and, in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be sent
by electronic transmission or mailed, first-class postage prepaid, to each Holder at its address as it appears in the Register, not less than ten (10) calendar days prior to such special record date (unless, the Trustee shall consent to an
earlier date). Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Notes (or their respective Predecessor
Notes) are registered at 5.00 p.m., London time, on such special record date and shall no longer be payable pursuant to the following clause (ii) of this Section 2.03(b). 

(ii) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements
of any securities exchange or automated quotation system on which the Notes may be listed or designated for issuance, and upon such notice as may be required by such exchange or automated quotation system, if, after notice given by the Issuer to the
Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.04    Execution of Notes. 

Notes shall be signed in the name and on behalf of the Issuer by the manual or facsimile signature of an Officer. The Trustee will, upon
receipt of an Authentication Order, authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate
principal amount of Notes authorized for issuance by the Issuer pursuant to one or more Authentication Orders, except as provided in Sections 2.07 and 2.08 hereof. 

Only such Notes as shall bear thereon a certificate of authentication substantially in the form set forth on the form of Notes attached as
Exhibit A1 hereto, executed manually by the Trustee (or an authenticating agent appointed by the Trustee as provided by Section 16.11), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such
certificate by the Trustee (or such an authenticating agent) upon any Note executed by the Issuer shall be conclusive evidence that the Note so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the
benefits of this Indenture. 
 In case any Officer who shall have signed any of the Notes shall cease to be such Officer before the Notes so
signed shall have been authenticated and delivered by the Trustee, or disposed of by the Issuer, such Notes nevertheless may be authenticated and delivered or disposed of as though the person who signed such Notes had not ceased to be such Officer,
and any Note may be signed on behalf of the Issuer by such persons as, at the actual date of the execution of such Note, shall be the proper Officers, although at the date of the execution of this Indenture any such person was not such an Officer.

 Section 2.05    Registrar, Paying Agents and Transfer Agents. 

The Issuer will maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer and exchange (the “Register”).
The Issuer may appoint one or more co-registrars and one or more additional paying agents and transfer agents. The term “Registrar” includes any co-registrar
and 

  
 12 

 
transfer agent, the term “Paying Agent” includes any additional paying agent and transfer agent. The Issuer may change any Paying Agent or Registrar without notice to any Holder,
subject to the provisions of Section 4.02 hereof. The Issuer, the Guarantors or any of their Subsidiaries may act as Paying Agent or Registrar. 

Deutsche Bank AG, London Branch has been appointed to act as the Common Depositary with respect to the Global Notes. 

The Issuer initially appoints Deutsche Bank Luxembourg S.A. of 2 Boulevard Konrad Adenauer, L-1115
Luxembourg to act as the Registrar and a transfer agent and Deutsche Bank AG, London Branch to act as the Paying Agent and a transfer agent with respect to the Global Notes. 

The Agents shall only be obliged to perform duties set out in this Indenture and the terms and conditions of the Notes and shall have no
implied duties. The obligations of the Agents appointed herein are several and not joint. No funds held by any Agent other than the Issuer, a Guarantor or a Subsidiary pursuant to this Indenture will be held in trust or segregated except as required
by law. While any default by the Issuer in making payment of principal, premium if any, or interest on the Notes continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuer at any time may require a
Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Issuer, a Guarantor or a Subsidiary) will have no further liability for the money. If the Issuer, a Guarantor or a
Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuer, the Trustee will
serve as Paying Agent for the Notes. The Agents appointed by the Issuer hereunder shall act solely as Agents of the Issuer and need have no concern for the interest of the Holders. 

Section 2.06    Transfer and Exchange. 

(a)    Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the Common
Depositary to a nominee of the Common Depositary, by a nominee of the Common Depositary to the Common Depositary or to another nominee of the Common Depositary, or by the Common Depositary or any such nominee to a successor Common Depositary or a
nominee of such successor Common Depositary. Global Notes will be exchanged by the Issuer for Definitive Notes if: 
 (i)
the Issuer delivers to the Trustee notice from the Depositary or Common Depositary that it is unwilling or unable to continue to act as Depositary or Common Depositary and a successor Depositary or Common Depositary, as the case may be, is not
appointed by the Issuer within ninety (90) days after the date of such notice from the Depositary; or 
 (ii) the
Issuer in its sole discretion determines that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes and delivers a written notice to such effect to the Trustee; provided that in no event shall the Temporary
Global Note be exchanged by the Issuer for Definitive Notes prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act; or 
 (iii) the owner of a beneficial interest in a Global Note requests
such exchange in writing delivered through either Euroclear or Clearstream or if Euroclear or Clearstream request such exchange following the occurrence and continuance of an Event of Default with respect to the Notes. 

  
 13 

 Upon the occurrence of either of the preceding events in (i) or (ii) above, Definitive
Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.08 hereof. Every Note authenticated and delivered in exchange
for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 (other than upon any of the preceding events in (i), (ii) or (iii)) or Section 2.07 or 2.08 hereof, shall be authenticated and delivered in the form
of, and shall be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in
Section 2.06(b), (c) or (f) hereof. 
 (b)    Transfer and Exchange of Beneficial Interests in the Global
Notes. The transfer and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Global Notes
will be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (i) or
(ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (i) Transfer of
Beneficial Interests in the Same Global Note. Beneficial interests in any Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Global Note in accordance with the transfer
restrictions set forth in the Permanent Global Note Legend or Temporary Global Note Legend, as applicable; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Temporary
Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(i). 

(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.06(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either: 

(A)    both: 

(i)    a written order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii)    instructions given in accordance with the Applicable Procedures containing information regarding
the Participant account to be credited with such increase; or 
 (B)    both: 

(i)    a written order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and 

(ii)    instructions given by the Depositary to the Registrar containing information regarding the Person
in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (B)(i) above; 

  
 14 

 provided that in no event shall Definitive Notes be issued upon the
transfer or exchange of beneficial interests in the Temporary Global Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903 under the Securities Act.

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

(i) Beneficial Interests in Global Note to Definitive Notes. A beneficial interest in a Global Note may not be
exchanged for a Definitive Note except in limited circumstances as provided in Section 2.06(a). If any holder of a beneficial interest in a Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such
beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon receipt by the Registrar of the following documentation: 

(A)    if the holder of such beneficial interest in a Global Note proposes to exchange such beneficial
interest for a Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (a) thereof; 

(B)    if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

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

(D)    if such beneficial interest is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E)    if such beneficial interest is being transferred to an Institutional Accredited Investor in
reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if applicable; or 
 (F)    if
such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof, 

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and
the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Global
Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary
and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Global Note pursuant to
this Section 2.06(c)(i) shall bear the Definitive Note Legend and shall be subject to all restrictions on transfer contained therein. 

  
 15 

 (ii) Beneficial Interests in Temporary Global Note to Definitive
Notes. Notwithstanding Sections 2.06(c)(i)(A) and (C) hereof, a beneficial interest in the Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive
Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a transfer pursuant to an
exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904. 

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

(i)    Definitive Notes to Beneficial Interests in Global Notes. Subject to the
provisions set forth in Section 2.06(a), if any Holder of a Definitive Note proposes to exchange such Note for a beneficial interest in a Global Note or to transfer such Definitive Notes to a Person who takes delivery thereof in the form of a
beneficial interest in a Global Note then, upon receipt by the Registrar of the following documentation: 

(A)    if the Holder of such Definitive Note proposes to exchange such Note for a beneficial interest in
a Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in (b) thereof; 

(B)    if such Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

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

(D)    if such Definitive Note is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E)    if such Definitive Note is being transferred to an Institutional Accredited Investor in reliance
on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and
Opinion of Counsel required by item (3) thereof, if applicable; or 
 (F)    if such Definitive
Note is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof, 

the Trustee will cancel the Definitive Note, increase or cause to be increased the aggregate principal amount of, the Global
Note. 
 (e)    Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of
Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder
must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In
addition, the requesting Holder must provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e). 

  
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 (i) Definitive Notes to Definitive Notes. Any Definitive Note may be
transferred to and registered in the name of Persons who take delivery thereof in the form of a Definitive Note if the Registrar receives the following: 

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

(C)    if the transfer will be made pursuant to any other exemption from the registration requirements of
the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

(f)    Legends. The following legends will appear on the face of all Global Notes and Definitive Notes, as
applicable, issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 

(i) Global Note Legend. Each Global Note will bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.09 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO
A SUCCESSOR COMMON DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE COMMON DEPOSITARY TO A NOMINEE OF THE COMMON DEPOSITARY OR BY A NOMINEE OF THE COMMON DEPOSITARY TO THE COMMON DEPOSITARY OR ANOTHER NOMINEE OF THE COMMON DEPOSITARY OR BY THE COMMON
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR COMMON DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR COMMON DEPOSITARY. 
 THIS NOTE AND ANY INTEREST HEREIN HAVE
NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND, ON OR PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS 40 DAYS AFTER THE LATER
OF THE COMMENCEMENT OF THE OFFER OF THIS NOTE AND THE CLOSING DATE OF THE OFFER OF THIS NOTE (OR SUCH SHORTER PERIOD OF TIME PERMITTED BY REGULATION S UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER), MAY NOT BE OFFERED, SOLD,
ASSIGNED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT (I) TO NON U.S PERSONS IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT (“REGULATION S”), TO THE GUARANTORS OR ANY SUBSIDIARY
THEREOF; OR 

  
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PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITY ACT AND (II) IN COMPLIANCE WITH ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. AFTER THE RESALE
RESTRICTION TERMINATION DATE, THIS NOTE AND ANY INTEREST HEREIN MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE U.S. SECURITIES ACT AND ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. 

EACH PURCHASER OF THIS NOTE OR ANY INTEREST HEREIN AGREES THAT IT WILL DELIVER TO EACH PURCHASER OF THIS NOTE OR BENEFICIAL INTERESTS HEREIN A NOTICE
SUBSTANTIALLY TO THE EFFECT THEREOF.” 
 (ii) Temporary Global Note Legend. In addition to the Global Note
Legend set forth in Section 2.06(f)(i), each Temporary Global Note will bear a legend in substantially the following form: 
 “THE RIGHTS
ATTACHING TO THIS TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR A PERMANENT GLOBAL NOTE, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS TEMPORARY
GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON.” 
 (iii) Definitive Note Legend. Each
Definitive Note issued in exchange for a beneficial interest in a Global Note shall bear a legend in substantially the following form: 
 THIS NOTE AND ANY
INTEREST HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND, ON OR PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS 40
DAYS AFTER THE LATER OF THE COMMENCEMENT OF THE OFFER OF THIS NOTE AND THE CLOSING DATE OF THE OFFER OF THIS NOTE (OR SUCH SHORTER PERIOD OF TIME PERMITTED BY REGULATION S UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER), MAY NOT BE
OFFERED, SOLD, ASSIGNED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT (I) TO NON U.S PERSONS IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT (“REGULATION S”), TO THE GUARANTORS OR ANY
SUBSIDIARY THEREOF; OR PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITY ACT AND (II) IN COMPLIANCE WITH ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. AFTER THE RESALE RESTRICTION TERMINATION DATE,
THIS NOTE AND ANY INTEREST HEREIN MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE U.S. SECURITIES ACT AND ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. 

EACH PURCHASER OF THIS NOTE OR ANY INTEREST HEREIN AGREES THAT IT WILL DELIVER TO EACH PURCHASER OF THIS NOTE OR BENEFICIAL INTERESTS HEREIN A NOTICE
SUBSTANTIALLY TO THE EFFECT THEREOF. 
 (g)    Cancellation and/or Adjustment of Global Notes. At such time as
all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and
canceled by the Trustee in accordance with Section 2.09 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a
beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at
the direction of the Trustee to reflect such reduction; and if the beneficial interest 

  
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is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly
and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(h)    General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Issuer will execute and the Trustee will authenticate Global Notes
and Definitive Notes upon receipt of an Authentication Order in accordance with Section 2.04 hereof or at the Registrar’s request. 

(ii) No service charge will be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note
for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental
charge payable upon exchange or transfer pursuant to Sections 2.08, 3.04 and 9.04 hereof). 
 (iii) The Registrar will not
be required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. 

(iv) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Notes will be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 

(v) Neither the Registrar nor the Issuer will be required: 

(A) to issue, to register the transfer of or to exchange any Note for a period of fifteen (15) days prior to
(1) any date fixed for the redemption of the Notes, (2) the date fixed for selection of Notes, to be redeemed in part or (3) the Record Date with respect to any interest payment date; 

(B) to register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or 
 (C) to register the transfer of or to exchange a Note between a Record
Date and the next succeeding interest payment date. 
 (vi) Prior to due presentment for the registration of a transfer of
any Note, the Trustee, any Agent and the Issuer may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other
purposes, and none of the Trustee, any Agent or the Issuer shall be affected by notice to the contrary. 
 (vii) The Trustee
or an authenticating agent appointed pursuant to the terms of this Indenture will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.04 hereof. 

(viii) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 

  
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 Section 2.07    Mutilated, Destroyed, Lost or Stolen Notes. 

In case any Note shall become mutilated or be destroyed, lost or stolen, the Issuer in its discretion may execute, and upon its written
request the Trustee or an authenticating agent appointed by the Trustee shall authenticate and make available for delivery, a new Note, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in
lieu of and in substitution for the Note so destroyed, lost or stolen. In every case, the applicant for a substituted Note shall furnish to the Issuer, to the Trustee and, if applicable, to such authenticating agent such security or indemnity bond
as may be required by them to save each of them harmless for any loss, liability, cost or expense caused by or connected with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer, to the
Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

Following receipt by the Trustee or such authenticating agent, as the case may be, of satisfactory security or indemnity bond and evidence, as
described in the preceding paragraph, the Trustee or such authenticating agent may authenticate any such substituted Note and make available for delivery such Note. Upon the issuance of any substituted Note, the Issuer may require the payment by the
Holder of a sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. In case any Note which has matured or is about to mature or has been called for
redemption, as the case may be, shall become mutilated or be destroyed, lost or stolen, the Issuer may, instead of issuing a substitute Note, pay or authorize the payment of or exchange or authorize the exchange of the same (without surrender
thereof except in the case of a mutilated Note), as the case may be, if the applicant for such payment or exchange shall furnish to the Issuer, to the Trustee and, if applicable, to such authenticating agent such security or indemnity bond as may be
required by them to save each of them harmless for any loss, liability, cost or expense caused by or in connection with such substitution, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer, the Trustee
and, if applicable, any Paying Agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof. 

Every substitute Note issued pursuant to the provisions of this Section 2.07 by virtue of the fact that any Note is destroyed, lost or
stolen shall constitute an additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Note shall be found at any time, and shall be entitled to all the benefits of (but shall be subject to all the limitations set
forth in) this Indenture equally and proportionately with any and all other Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon the express condition that the foregoing provisions are exclusive with
respect to the replacement or payment or exchange or redemption of mutilated, destroyed, lost or stolen Notes and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary
with respect to the replacement or payment or exchange or redemption of negotiable instruments or other securities without their surrender. 

Section 2.08    Temporary Notes. 

Pending the preparation of Notes in certificated form, the Issuer may execute and the Trustee or an authenticating agent appointed by the
Trustee shall, upon the written request of the Issuer, authenticate and deliver temporary Notes (printed or lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially in the form of the Notes in certificated
form, but with such omissions, insertions and variations as may be appropriate for temporary Notes, all as may be determined by the Issuer. Every such temporary Note shall be executed by the Issuer and authenticated by the Trustee or such
authenticating agent upon the same conditions and in substantially the same manner, and with the same effect, as the Notes in certificated form. Without unreasonable delay, the Issuer will execute and deliver to the Trustee or such authenticating
agent Notes in certificated form and thereupon any or all temporary Notes may be surrendered in exchange 

  
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therefor, at each office or agency maintained by the Issuer pursuant to Section 4.02 and the Trustee or such authenticating agent shall authenticate and make available for delivery in
exchange for such temporary Notes an equal aggregate principal amount of Notes in certificated form. Such exchange shall be made by the Issuer at its own expense and without any charge therefor. Until so exchanged, the temporary Notes shall in all
respects be entitled to the same benefits and subject to the same limitations under this Indenture as Notes in certificated form authenticated and delivered hereunder. 

Section 2.09    Cancellation of Notes. 

All Notes surrendered for the purpose of payment, redemption or registration of transfer shall, if surrendered to the Issuer or any Paying
Agent or any Registrar, be surrendered to the Trustee and promptly canceled by it or, if surrendered to the Trustee, shall be promptly canceled by it and no Notes shall be issued in lieu thereof except as expressly permitted by any of the provisions
of this Indenture. The Trustee shall dispose of such canceled Notes in accordance with its customary procedures. If the Issuer shall acquire any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the indebtedness
represented by such Notes unless and until the same are delivered to the Trustee for cancellation. 
 Section 2.10    Common
Code and ISIN Number. 
 The Issuer in issuing the Notes may use a “Common Code” number or an “ISIN” number, and if
so, such Common Code and/or ISIN number shall be included in notices of redemption or purchase as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness or accuracy of the
Common Code and/or ISIN number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such
numbers. The Issuer shall promptly notify the Trustee and each Agent of any change in the Common Code and/or ISIN number. 

Section 2.11    Issuance of Additional Notes. 

The Issuer will be entitled, upon delivery of an Officers’ Certificate, Opinion of Counsel and Authentication Order, subject to its
compliance with Section 4.10, to issue Additional Notes under this Indenture that will have identical terms to the Initial Notes issued on the date of this Indenture other than with respect to the date of issuance and issue price. 

With respect to any Additional Notes, the Issuer will set forth in a resolution of its Board of Directors and an Officers’ Certificate, a
copy of each of which will be delivered to the Trustee, the following information: 
 (1) the aggregate principal amount of such Additional
Notes to be authenticated and delivered pursuant to this Indenture; and 
 (2) the issue price, the issue date and the Common Code and ISIN
number of such Additional Notes. 

  
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 ARTICLE 3 

REDEMPTION OF NOTES 

Section 3.01    Optional Redemption of Notes. 

The Issuer may redeem on any one or more occasions some or all of the Notes before they mature. The redemption price (the “Redemption
Price”) will equal the sum of (1) an amount equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest up to, but not including, the Redemption Date and (2) the Make-Whole Premium;
provided that, the Issuer will not redeem the Notes on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an
acceleration resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Notes to be redeemed). Notwithstanding the foregoing, if the Notes are redeemed on or after ninety (90) days prior to the Maturity
Date, the Redemption Price will not include the Make-Whole Premium; provided further that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of
accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes for redemption) and the Redemption Price shall not
include accrued and unpaid interest up to, but not including, the Redemption Date. 
 Section 3.02    Redemption upon Changes in
Withholding Tax. 
 The Issuer may, at its option, redeem the Notes in whole, but not in part, upon not less than fifteen
(15) days’ and not more than forty-five (45) days’ published notice as contemplated in Section 3.03 below, at any time at a redemption price equal to 100% of the principal amount thereof, together with accrued and unpaid
interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant interest payment date prior to the Redemption Date, if any, then due and that shall become due on
such Redemption Date as a result of the redemption or otherwise) if: 
 (a) it determines that as a result of (i) any change in, or
amendment to, the law (or any regulations or rulings promulgated thereunder) or treaties of the United States (or any political subdivision or taxing authority thereof or therein having power to tax) (a “Relevant Taxing
Jurisdiction”), or (ii) any change in, or amendment to, any official position regarding the application, administration or interpretation of such laws, treaties, regulations or rulings (including by virtue of a holding, judgment or
order by a court of competent jurisdiction or a change in published administrative practice), which change or amendment is announced as formally proposed on or after the date of the Listing Particulars, it or any Guarantor becomes or will become
obligated to pay additional amounts pursuant to Section 4.14; or 
 (b) any act is taken by a Relevant Taxing Jurisdiction on or after
the date of the Listing Particulars, whether or not such act is taken with respect to the Issuer or any affiliate, that results in a substantial probability that it or any Guarantor will or may be required to pay additional amounts pursuant to
Section 4.14, 
 provided that it or the relevant Guarantor or Guarantors (as the case may be) determine, in its or their business
judgment, that the obligation to pay additional amounts pursuant to Section 4.14 cannot be avoided by taking reasonable measures available to it or them (which does not include substitution of the Issuer or any Guarantor under the Notes) and
the Issuer or the relevant Guarantor or Guarantors (as the case may be) have received an Opinion of Counsel (to the effect that as a result of such change or amendment the Issuer will, or that an act taken by a Relevant Taxing jurisdictions has
resulted in a substantial probability that it or any Guarantor will, or may, be required to pay the additional amounts described in Section 4.14) and the Issuer or the Guarantors shall have delivered to the Trustee an Officers’ Certificate
stating that, based on such opinion, the Issuer is entitled to redeem the Notes pursuant to their terms. The Trustee will accept and shall be entitled to rely on such Officers’ Certificate and Opinion of Counsel as sufficient evidence of the
existence and satisfaction of the conditions precedent as set forth in this Section, in which event it will be conclusive and binding on the Holders. 

  
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 Section 3.03    Notice of Optional Redemption, Selection of Notes. 

In case the Issuer shall desire to exercise the right to redeem all or, as the case may be, any part of the Notes pursuant to
Section 3.01 or 3.02, it shall fix the Redemption Date. The Issuer or, at its written request received by the Trustee not fewer than five (5) Business Days prior (or such shorter period of time as may be acceptable to the Trustee) to the
date the notice of redemption is to be sent, the Trustee in the name of and at the expense of the Issuer, shall mail or cause to be mailed, or sent by electronic transmission a notice of such redemption not fewer than fifteen (15) calendar days
nor more than forty five (45) calendar days prior to the Redemption Date to each Holder of Notes so to be redeemed in whole or in part at its last address as the same appears on the Register; provided that if the Issuer makes such
request of the Trustee, it shall, together with such request, also give written notice of the Redemption Date to the Trustee, provided further that the text of the notice shall be prepared by the Issuer. Such mailing shall be by first class
mail or sent by electronic transmission. The notice, if sent in the manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or
any defect in the notice to the Holder of any Note designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. Concurrently with the sending of any such notice of redemption,
the Issuer shall issue a press release announcing such redemption, the form and content of which press release shall be determined by the Issuer in its sole discretion. The failure to issue any such press release or any defect therein shall not
affect the validity of the redemption notice or any of the proceedings for the redemption of any Note called for redemption. 
 While the
Notes are represented by Global Notes, notice may be given to Euroclear or Clearstream for communications to Participants and, so long as the Notes are admitted to trading on the Global Exchange Market and, in connection with any redemption, the
Issuer will forthwith notify the Irish Stock Exchange of any change in the principal amount of Notes outstanding.    So long as the Notes are listed on the Irish Stock Exchange, the Issuer shall notify, or cause to be notified,
such Stock Exchange of each redemption of Notes made pursuant to this Indenture. 
 Each such notice of redemption shall specify:
(i) the aggregate principal amount of Notes to be redeemed, (ii) the Common Code and ISIN number or codes and numbers of the Notes being redeemed, (iii) the Redemption Date (which shall be a Business Day) and the record date,
(iv) the Redemption Price at which Notes are to be redeemed, (v) the place or places of payment and that payment will be made upon presentation and surrender of such Notes and (vi) that interest accrued and unpaid to, but excluding,
the Redemption Date will be paid as specified in said notice, and that on and after said date interest thereon or on the portion thereof to be redeemed will cease to accrue. If fewer than all the Notes are to be redeemed, the notice of redemption
shall identify the Notes to be redeemed (including Common Codes and ISIN numbers, if any). In case any Note is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall
state that, on and after the Redemption Date, upon surrender of such Note, a new Note or Note in principal amount equal to the unredeemed portion thereof will be issued. 

On or prior to the Redemption Date, the Issuer will deposit with the Paying Agent (or, if the Issuer is acting as its own Paying Agent, set
aside, segregate and hold in trust as provided in Section 4.04) an amount of money in immediately available funds sufficient to redeem on the Redemption Date all the Notes (or portions thereof) so called for redemption at the appropriate
Redemption Price; provided that if such payment is made on the Redemption Date, it must be received by the Paying Agent, by 10.00 a.m., London time, on such date. The Issuer shall be entitled to retain any interest, yield or gain on
amounts deposited with the Paying Agent pursuant to this Section 3.03 in excess of amounts required hereunder to pay the Redemption Price. 

If less than all of the outstanding Notes are to be redeemed, the Trustee shall select the Notes or portions thereof of the Global Notes or
the Notes in certificated form to be redeemed (in principal amounts of £100,000 and integral multiples of £1,000 in excess thereof) as required by Euroclear or Clearstream, as the depositary for the notes, or, if Euroclear and
Clearstream prescribes no method of selection, on a pro rata basis, by use of a pool factor. The Trustee, the Paying Agent and the Registrar shall not be liable for any selections of notes made in accordance with this paragraph. 

  
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 Section 3.04    Payment of Notes Called for Redemption by the Issuer. 

If notice of redemption has been given as provided in Section 3.03, the Notes or portion of Notes with respect to which such notice has
been given shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price, and unless the Issuer shall default in the payment of such Notes at the Redemption Price, interest on the Notes
or portion of Notes so called for redemption shall cease to accrue on and after the Redemption Date and, on and after the Redemption Date (unless the Issuer shall default in the payment of the Redemption Price) such Notes shall, except as provided
in Section 7.05 and Section 11.02, cease to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Notes except the right to receive the Redemption Price thereof. On
presentation and surrender of such Notes at a place of payment in said notice specified, the said Notes or the specified portions thereof shall be paid and redeemed by the Issuer at the Redemption Price, together with interest accrued thereon to,
but excluding, the Redemption Date. 
 Upon presentation of any Note redeemed in part only, the Issuer shall execute and the Trustee shall
authenticate and make available for delivery to the Holder thereof, at the expense of the Issuer, a new Note or Notes, of authorized denominations, in principal amount equal to the unredeemed portion of the Notes so presented. 

Section 3.05    Sinking Fund. 

There shall be no sinking fund provided for the Notes. 

ARTICLE 4 
 PARTICULAR
COVENANTS OF THE COMPANY 
 Section 4.01    Payment of Notes. 

The Issuer covenants and agrees that it will duly and punctually pay or cause to be paid when due the principal of (including the Redemption
Price upon redemption pursuant to Article 3), and premium, if any, and interest on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes; provided that the Issuer may withhold from
payments of interest and upon redemption pursuant to Article 3, maturity or otherwise, any amounts the Issuer is required to withhold by law. 

Section 4.02    Maintenance of Office or Agency. 

The Issuer will maintain the offices and the agencies specified in Section 2.05. As of the date of this Indenture, such offices shall be
as set out in Section 2.05 and, at any other time, at such other address or addresses as the Trustee, a Paying Agent or the Registrar may designate from time to time by notice to the Issuer. The Issuer will give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency not designated or appointed by the Trustee. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee
with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office. 
 The
Issuer may change the Registrar or a Paying Agent upon written notice to such Registrar or Paying Agent and to the Trustee, without prior notice to the Holders; provided, however, that no such removal shall become effective until (a) acceptance
of an appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (b) notification to the Trustee that

  
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the Trustee shall, to the extent that it determines that it is able, serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause (a) above; provided,
further, that in no event may the Issuer appoint a Paying Agent in any member state of the European Union where the Paying Agent would be obliged to withhold or deduct tax in connection with any payment made by it in relation to the Notes unless the
Paying Agent would be so obliged if it were located in all other member states. The Registrar or Paying Agent may resign by providing thirty (30) days’ written notice to the Issuer and the Trustee. In addition, for so long as the
Notes are admitted to trading on the Global Exchange Market, the Issuer shall publish notice of the change in the Registrar or Paying Agent to the extent and in the manner permitted by the rules and regulations of the Irish Stock Exchange, posted on
the official website of the Irish Stock Exchange. 
 Section 4.03    Appointments to Fill Vacancies in Trustee’s Office.

 The Issuer and the Guarantors, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, upon the terms
and conditions and otherwise as provided in Section 7.10, a Trustee, so that there shall at all times be a Trustee hereunder. 

Section 4.04    Provisions as to the Agents. 

(a)    If the Issuer shall appoint a Paying Agent, or if the Trustee shall appoint such a Paying Agent, other than the
initial Paying Agent, Deutsche Bank AG, London Branch, the Issuer will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 4.04,
and Deutsche Bank AG, London Branch, as initial Paying Agent, hereby agrees: 
 (i) that it will give the Trustee notice of
any failure by the Issuer (or by any other obligor on the Notes) to make any payment of the principal of and premium, if any, or interest on the Notes when the same shall be due and payable; and 

(ii) that at any time during the continuance of an Event of Default, upon request of the Trustee, it will forthwith pay to the
Trustee all sums so held. 
 The Issuer shall, on or before 10.00 am, London time, on the Business Day prior to each due date of the
principal of, premium, if any, or interest on the Notes, deposit with the Paying Agent a sum (in funds which are immediately available on the due date for such payment) sufficient to pay such principal, premium, if any, or interest and (unless such
Paying Agent is the Trustee) the Issuer will promptly notify the Trustee and the Paying Agent of any failure to take such action. Subject to actual receipt of such funds as provided by this Section 4.04(a) by the Paying Agent, the Paying Agent
shall make payments on the Notes in accordance with the provisions of this Indenture. The Issuer shall ensure that two (2) Business Days prior to the date that such payment is due to be made, it will confirm in writing to the Paying Agent in a
form agreed upon by the Paying Agent and the Issuer the payment scheduled to be made. No Agent shall be obliged to make payment to Holders until such time as it has received funds and been able to identify or confirm receipt of funds. 

The Paying Agent shall not be obliged to make payment to Holders until such time as it has received funds and been able to identify or confirm
receipt of funds. 
 (b)    If the Issuer shall act as its own Paying Agent, it will, on or before each due date of the
principal of, premium, if any, or interest on the Notes, set aside, segregate and hold in trust for the benefit of the Holders a sum sufficient to pay such principal, premium, if any, and interest so becoming due and will promptly notify the Trustee
of any failure to take such action and of any failure by the Issuer (or any other obligor under the Notes) to make any payment of the principal of, premium, if any, or interest on the Notes when the same shall become due and payable. 

  
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 (c)    Anything in this Section 4.04 to the contrary
notwithstanding, the Issuer may, at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by the Issuer or any Paying Agent
hereunder as required by this Section 4.04, such sums to be held by the Trustee and upon such payment by the Issuer or any Paying Agent to the Trustee, the Issuer or such Paying Agent shall be released from all further liability with respect to
such sums. 
 (d)    Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums in
trust as provided in this Section 4.04 is subject to Section 11.02 and Section 11.03. 
 (e)    The
rights, powers, duties and obligations and actions of each Agent under this Indenture are several and not joint or joint and several. 

(f)    The Issuer and the Agents acknowledge and agree that in the event of a Default or Event of Default, the Trustee
may, by notice in writing to the Issuer and the Agents, require that the Agents act as agents of, and take instructions exclusively from, the Trustee. Prior to receiving such written notice from the Trustee, the Agents shall be the agents of the
Issuer and need have no concern for the interests of the Holders except as set forth in this Indenture. 
 (g)    The
Agents will hold all funds as bankers subject to the terms of this Indenture and as a result, such money will not be held in accordance with the rules established by the Financial Conduct Authority in the Financial Conduct Authority’s Handbook
of rules and guidance from time to time in relation to client money. 
 (h)    Any obligation the Agents may have to
publish a notice to Holders of a Global Note on behalf of the Issuer will have been met upon delivery of the notice to Euroclear and/or Clearstream, as applicable. 

The Trustee shall not be responsible for the actions of any other Paying Agents (including the Issuer if acting as its own Paying Agent) and
shall have no control of any funds held by such other Paying Agents. 
 Section 4.05    Existence. 

Subject to Article 10 hereof, each of the Issuer and the Guarantors will do or cause to be done all things necessary to preserve and keep in
full force and effect its existence and rights (charter and statutory); provided that neither the Issuer nor the Guarantors shall be required to preserve any such right if the Issuer or the Guarantors, as applicable, shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Issuer or the Guarantors, as applicable, and that the loss thereof is not disadvantageous in any material respect to the Holders. 

Section 4.06    Reports. 

(a)    Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the
Guarantors will furnish to the Holders of Notes or cause the Trustee to furnish to the Holders of Notes, within the time periods specified in the SEC’s rules and regulations: 

(i) all quarterly and annual reports of the Company and the General Partner that would be required to be filed with the SEC on
Forms 10-Q and 10-K if the Guarantors were required to file such reports; and 

(ii) all current reports of the Company and the General Partner that would be required to be filed with the SEC on Form 8-K if the Guarantors were required to file such reports. 

  
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 All such reports will be prepared in all material respects in accordance with all of the
rules and regulations applicable to such reports. Each annual report on Form 10-K will include a report on the Company’s and the General Partner’s consolidated financial statements by the
Guarantors’ independent registered public accounting firm. In addition, the Guarantors will file a copy of each of the reports referred to in clauses (i) and (ii) above with the SEC for public availability within the time periods
specified in the rules and regulations applicable to such reports (unless the SEC will not accept such a filing) and will make the reports available on the Company’s website within those time periods. Notwithstanding the foregoing, the
Guarantors may satisfy their obligation to furnish the reports described above by furnishing, or filing with the SEC for public availability, reports of each of the Guarantors within the time periods specified in the SEC’s rules and
regulations. 
 If, at any time, the Guarantors are no longer subject to the periodic reporting requirements of the Exchange Act for any
reason, the Guarantors will nevertheless continue filing the reports specified in the preceding paragraphs with the SEC within the time periods specified above unless the SEC will not accept such a filing. The Issuer and the Guarantors will not take
any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC will not accept either Guarantor’s filings for any reason, they will post the reports referred to in the preceding
paragraphs to be available on the General Partner’s website within the time periods that would apply if the Guarantors were required to file those reports with the SEC. 

(b)    So long as the Notes are admitted to trading on the Global Exchange Market, all reports referred to in this section
will be available at the offices of the Paying Agent. 
 Section 4.07    Stay, Extension and Usury Laws. 

The Issuer covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Issuer from paying all or any portion of the principal, premium, if any, or interest on the Notes as contemplated herein,
wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture and the Issuer (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law,
and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

Section 4.08    Compliance Certificate. 

Within one hundred twenty (120) calendar days after the end of each fiscal year of the Issuer, the Issuer and the Guarantors shall
deliver to the Trustee a certificate signed by any of the principal executive officer, principal financial officer or principal accounting officer of the Issuer and the Guarantors, as the case may be, stating whether or not the signer has knowledge
of any Default under this Indenture, and, if so, specifying each Default and the nature and the status thereof. 
 The Issuer will deliver
to the Trustee, promptly upon becoming aware of (i) any Default in the performance or observance of any covenant, agreement or condition contained in this Indenture, or (ii) any Event of Default, an Officers’ Certificate specifying
with particularity such Default or Event of Default and further stating what action the Issuer has taken, is taking or proposes to take with respect thereto. 

Any notice required to be given under this Section 4.08 shall be delivered to a Responsible Officer of the Trustee at its Corporate Trust
Office. 

  
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 Section 4.09    Taxes. 

The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental
levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 

Section 4.10    Limitations on Incurrence of Indebtedness. 

(a)    The Company will not, and will not permit any of its Subsidiaries to, Incur any Indebtedness, other than
Intercompany Indebtedness and guarantees of Indebtedness Incurred by the Company or any of its Subsidiaries in compliance with this Indenture, if, immediately after giving effect to the Incurrence of such Indebtedness and the application of the
proceeds thereof, Total Outstanding Debt would be greater than 60% of Total Assets as of the end of the fiscal quarter covered in the annual or quarterly report of the Company most recently furnished to Holders of the Notes or filed with the SEC, as
the case may be. 
 (b)    The Company will not, and will not permit any of its Subsidiaries to, Incur any Secured Debt,
other than guarantees of Secured Debt Incurred by the Company or any of its Subsidiaries in compliance with this Indenture, if, immediately after giving effect to the Incurrence of such Secured Debt and the application of the proceeds thereof, the
aggregate principal amount of Secured Debt would be greater than 40% of Total Assets as of the end of the fiscal quarter covered in the annual or quarterly report of the Company most recently furnished to Holders of the Notes or filed with the SEC,
as the case may be. 
 (c)    The Company and its Subsidiaries will at all times maintain Total Unencumbered Assets of
not less than 150% of the aggregate outstanding principal amount of Unsecured Debt. 
 (d)    The Company will not, and
will not permit any of its Subsidiaries to, Incur any Indebtedness other than Intercompany Indebtedness and guarantees of Indebtedness Incurred by the Company or any of its Subsidiaries in compliance with this Indenture, if the ratio of Consolidated
EBITDA to Interest Expense for the most recent quarterly period covered in the annual or quarterly report of the Company most recently furnished to holders of the Notes or filed with the SEC, as the case may be and in accordance with
Section 4.06 hereof, prior to such time, annualized (i.e., multiplied by four (4)) prior to the date on which such additional Indebtedness is to be Incurred shall have been less than 1.50:1.00 on a pro forma basis after giving effect thereto
and to the application of the proceeds therefrom, and calculated on the assumption that: 
 (i) such Indebtedness and any
other Indebtedness Incurred by the Company and its Subsidiaries since the first day of such quarterly period and the application of the proceeds therefrom, including to refinance other Indebtedness, had occurred at the beginning of such period; 

(ii) the repayment or retirement of any Indebtedness (other than Indebtedness repaid or retired with the proceeds of any other
Indebtedness, which repayment or retirement shall be calculated pursuant to the preceding clause (1)) by the Company and its Subsidiaries since the first day of such quarterly period had been repaid or retired at the beginning of such period (except
that, in making such computation, the amount of Indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such Indebtedness during such period); 

(iii) in the case of Acquired Indebtedness or Indebtedness Incurred in connection with any acquisition since the first day of
such quarterly period, the related acquisition had occurred as of the first day of such period with the appropriate adjustments with respect to such acquisition being included in such pro forma calculation; and 

  
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 (iv) in the case of any acquisition or disposition of any asset or group of
assets or the placement of any assets in service or removal of any assets from service by the Company or any of its Subsidiaries from the first day of such quarterly period to the date of determination, including, without limitation, by merger, or
stock or asset purchase or sale, the acquisition, disposition, placement in service or removal from service had occurred as of the first day of such period, with appropriate adjustments to Interest Expense with respect to the acquisition,
disposition, placement in service or removal from service being included in that pro forma calculation. 

Section 4.11    Maintenance of Properties. 

The Issuer and the Company shall cause all of their material properties used or useful in the conduct of its business or the business of any
Subsidiary to be maintained and kept in good condition, repair and working order, casualty and condemnation excepted (and the Issuer and the Company may take out of service for a period of time, any of their properties that have been condemned or
suffered any loss due to casualty in order to make such repairs, betterments and improvements), all as in the judgment of the Issuer and the Company may be necessary so that the business carried on in connection therewith may be properly and
advantageously conducted at all times; provided, however, notwithstanding anything herein to the contrary, (i) the Issuer and the Company may discontinue the maintenance of any of such properties if such discontinuance is, in the
judgment of the Issuer and the Company, desirable in the conduct of its business or the business of any Consolidated Subsidiary and not disadvantageous in any material respect to the Holders, and (ii) the Issuer and the Company and their
Subsidiaries may sell or otherwise dispose of any of their properties for value in the ordinary course of business. 

Section 4.12    Insurance. 

The Issuer and the Company shall cause each of their properties and each of the properties of their Subsidiaries to be insured against loss of
damage with insurers of recognized responsibility, in commercially reasonable amounts and types as determined by the Issuer and the Company and with insurers of recognized responsibility. 

Section 4.13    Maintenance of Listing. 

The Issuer will use its commercially reasonable efforts to obtain the listing of the Notes on the Official List of the Irish Stock Exchange
and the admission to trading of the Notes on the Global Exchange Market and thereafter will use its commercially reasonable efforts to maintain such listing and admission to trading of the Notes for so long as any Note is outstanding; provided that,
if at any time the Issuer determines that it is unable to obtain such listing and admission to trading or it can no longer reasonably comply with the requirements for such listing and admission to trading or if the Issuer, acting in good faith,
considers that maintenance of such listing and admission to trading has become unduly onerous and is of the opinion that not maintaining such listing would not be materially prejudicial to the interests of the Holders, the Issuer may use its
commercially reasonable efforts to obtain (prior to the delisting of the Notes from the Official List of the Irish Stock Exchange and withdrawal from trading on the Global Exchange Market), and thereafter use its commercially reasonable efforts to
maintain, a listing of such Notes on such other stock exchange or exchanges or securities markets as the Issuer may decide. 
 The Issuer
will at all times use its commercially reasonable efforts to procure that there will be furnished to any stock exchange on which the Notes are from time to time listed or quoted such information in relation to the Issuer and/or the Guarantors as
such stock exchange may require in accordance with its normal requirements or in accordance with any arrangements for the time being made with any such stock exchange. 

  
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 Section 4.14    Payment of Additional Amounts. 

All payments of principal and interest on the Notes will be made free and clear of and without withholding or deduction for or on account of
any present or future tax, assessment or other governmental charge (collectively, “Taxes”) imposed by any Relevant Taxing Jurisdiction, unless the withholding of such Taxes is required by law or the official interpretation or
administration thereof. The Issuer will, subject to the exceptions and limitations set forth below, pay such additional amounts as are necessary in order that the net payment of the principal of and interest on the Notes to a Holder who is not a
United States person for United States federal income tax purposes, after deduction for any present or future Taxes of any Relevant Taxing Jurisdiction, imposed by withholding with respect to the payment, will not be less than the amount such Holder
would have received if such Taxes had not been withheld or deducted; provided, however, that the foregoing obligation to pay additional amounts shall not apply: 

(a)     to any Taxes that are imposed or withheld solely by reason of the Holder or beneficial owner of the Notes (or a
fiduciary, settlor, beneficiary, member or shareholder of the Holder if the Holder is an estate, trust, partnership or corporation, or a Person holding a power over an estate or trust administered by a fiduciary holder) being considered as: 

(i)    being or having been present or engaged in a trade or business in the United States or having or
having had a permanent establishment in the United States; 
 (ii)    having a current or former
relationship with the United States, including a relationship as a citizen or resident thereof; 

(iii)    being or having been a foreign or domestic personal holding company, a passive foreign investment
company or a controlled foreign corporation with respect to the United States or a corporation that has accumulated earnings to avoid United States federal income tax; 

(iv)    being or having been a “10-percent shareholder”
of the Issuer or the Company under the Notes within the meaning of section 871(h)(3) of the United States Internal Revenue Code of 1986, as amended (the “Code”), or any successor provisions; or 

(v)    being or having been a bank receiving interest described in section 881(c)(3)(A) of the Code or any
successor provisions; 
 (b)     to any Holder that is not the sole beneficial owner of the Note, or a portion thereof,
or that is a fiduciary or partnership, but only to the extent that a beneficiary or settlor with respect to the fiduciary, a beneficial owner or member of the partnership would not have been entitled to the payment of an additional amount had the
beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment; 
 (c)
    to any Taxes that are imposed or withheld solely by reason of the failure to (i) comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or
connection with a Relevant Taxing Jurisdiction of the Holder or beneficial owner of such Note, if compliance is required by statute or by regulation of the Relevant Taxing Jurisdiction as a precondition to relief or exemption from such Taxes
(including the submission of an applicable United States Internal Revenue Service (“IRS”) Form W-8 (with any required attachments)) or (ii) comply with any information gathering and
reporting requirements or to take any similar action (including entering into any agreement with the IRS), in each case, that are required to obtain the maximum available exemption from withholding by a Relevant Taxing Jurisdiction that is available
to payments received by or on behalf of the Holder; 
 (d)     to any Taxes that are imposed otherwise than by
withholding from the payment; 
 (e)     to any Taxes that are imposed or withheld solely by reason of a change in law,
regulation, or administrative or judicial interpretation that becomes effective more than fifteen (15) days after the payment becomes due or is duly provided for, whichever occurs later; 

  
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 (f)    to any estate, inheritance, gift, sales, excise, transfer, wealth
or personal property tax or a similar tax, assessment or governmental charge; 
 (g)    to any Taxes required to be
withheld by any Paying Agent from any payment of principal of or interest on any Note, if such payment can be made without such withholding by any other Paying Agent; 

(h)    to any Taxes that are imposed or levied by reason of the presentation (where presentation is required in order to
receive payment) of such Notes for payment on a date more than 30 days after the date on which such payment became due and payable, except to the extent that the Holder or beneficial owner thereof would have been entitled to additional amounts had
the Notes been presented for payment on any date during such thirty (30) day period; 
 (i)    to any backup
withholding or any Taxes imposed under Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, or any fiscal or
regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such sections of the Code; or 

(j)    in the case of any combination of any items (a) through (i). 

The Notes are subject in all cases to any tax, fiscal or other law or regulation or administrative or judicial interpretation applicable
thereto. Except as specifically provided by this Section 4.14, the Issuer and the Guarantors shall not be required to make any payment with respect to any tax, assessment or governmental charge imposed by any government or a political
subdivision or taxing authority thereof or therein. 
 Section 4.15    Officers’ Certificate for Additional Amounts.

 If the Issuer or any Guarantor, as the case may be, becomes aware that it will be obligated to pay additional amounts with respect to
any payment under or with respect to the Notes or the Guarantees, the Issuer or the Guarantor, as the case may be, will deliver to the Trustee on a date that is at least thirty (30) days prior to the date of that payment (unless the obligation
to pay additional amounts arises less than forty-five (45) days prior to that payment date, in which case the Issuer or the Guarantor shall notify the Trustee promptly thereafter) an Officers’ Certificate stating the fact that additional
amounts will be payable and the amount estimated to be so payable. The Officers’ Certificate must also set forth any other information necessary to enable the Paying Agent to pay such additional amounts to holders on the relevant payment date.
The Issuer and the Guarantor will provide the Trustee with documentation reasonably satisfactory to the Trustee evidencing the payment of additional amounts. The Trustee shall be entitled to rely solely on such Officers’ Certificate as
conclusive proof that such payments are necessary. 
 ARTICLE 5 

[RESERVED] 
 ARTICLE 6 

REMEDIES OF THE TRUSTEE AND THE HOLDERS ON AN EVENT OF DEFAULT 

Section 6.01    Events of Default. 

In case one or more of the following (“Events of Default”) (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) shall have occurred and be continuing: 

(a)    default for thirty (30) days in the payment of any installment of interest under the Notes; or 

  
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 (b)    default in the payment of the principal amount or Redemption
Price due with respect to the Notes, when the same becomes due and payable; or 
 (c)    each of the Issuer and the
Guarantors fails to comply with any of its other agreements contained in the Notes or this Indenture upon receipt by the Issuer of notice of such default by the Trustee or by Holders of not less than 25% in aggregate principal amount of the Notes
then outstanding and the Issuer or the Guarantors, as applicable, fails to cure (or obtain a waiver of) such default within sixty (60) days after the Issuer receives such notice; or 

(d)    failure to pay any Indebtedness that is (a) of the Issuer, the Guarantors or any Subsidiary in which the
Company has invested at least $75,000,000 in capital (a “Significant Subsidiary”) or any entity in which the Company is the general partner, and (b) in an outstanding principal amount in excess of $75,000,000 at final
maturity or upon acceleration after the expiration of any applicable grace period, which Indebtedness is not discharged, or such default in payment or acceleration is not cured or rescinded, within sixty (60) days after written notice to the
Issuer from the Trustee (or to the Issuer and the Trustee from Holders of at least 25% in principal amount of the outstanding Notes); or 

(e)    the Issuer, the Guarantors or any Significant Subsidiary pursuant to or under or within meaning of any Bankruptcy
Law: 
 (i) commences a voluntary case or proceeding seeking liquidation, reorganization or other relief with respect to the
Issuer, the Guarantors or a Significant Subsidiary or its debts or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of the Issuer, the Guarantors or a Significant Subsidiary or any substantial part of
the property of the Issuer, the Guarantors or a Significant Subsidiary; or 
 (ii) consents to any such relief or to the
appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against the Issuer, the Guarantors or a Significant Subsidiary; or 

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

(iv) makes a general assignment for the benefit of creditors; or 

(f)    an involuntary case or other proceeding shall be commenced against the Issuer, the Guarantors or any Significant
Subsidiary seeking liquidation, reorganization or other relief with respect to the Issuer, the Guarantors or a Significant Subsidiary or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the
appointment of a trustee, receiver, liquidator, custodian or other similar official of the Issuer, the Guarantors or a Significant Subsidiary or any substantial part of the property of the Issuer, the Guarantors or a Significant Subsidiary, and such
involuntary case or other proceeding shall remain undismissed and unstayed for a period of thirty (30) calendar days; or: 

  
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 (g)    a court of competent jurisdiction enters an order or decree under
any Bankruptcy Law that 
 (i) is for relief against the Issuer, the Guarantors or any of Significant Subsidiary in an
involuntary case or proceeding; 
 (ii) appoints a trustee, receiver, liquidator, custodian or other similar official of the
Issuer, the Guarantors or a Significant Subsidiary or any substantial part of the property of the Issuer, the Guarantors or a Significant Subsidiary; or 

(iii) orders the liquidation of the Issuer, the Guarantors or a Significant Subsidiary; and, in each case in this clause (g),
the order or decree remains unstayed and in effect for thirty (30) calendar days; 
 then, and in each and every such case (other than an Event of
Default specified in Sections 6.01(e), 6.01(f) and 6.01(g) with respect to the Issuer), unless the principal of all of the Notes shall have already become due and payable, either the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding, by notice in writing to the Issuer (and to the Trustee if given by the Holders), may declare the principal amount of and premium, if any, and interest accrued and unpaid on all the Notes to be immediately due
and payable, and upon any such declaration the same shall be immediately due and payable. 
 If an Event of Default specified in
Section 6.01(e), 6.01(f) or 6.01(g) occurs with respect to Issuer, the principal amount of and premium, if any, and interest accrued and unpaid on all the Notes shall be immediately and automatically due and payable without necessity of further
action. 
 At any time after the principal amount of and premium, if any, and interest on the Notes shall have been so declared due and
payable, and before any judgment or decree for the payment of the monies due shall have been obtained or entered as hereinafter provided, Holders of a majority in aggregate principal amount of the Notes then outstanding on behalf of the Holders of
all of the Notes then outstanding, by written notice to the Issuer and to the Trustee, may waive all Defaults or Events of Default and rescind and annul such declaration and its consequences, subject in all respects to Section 6.07 hereof, if:
(a) all Events of Default, other than the non-payment of the principal amount and any accrued and unpaid interest that have become due solely because of such acceleration, have been cured or waived; and
(b) the Issuer or the Guarantors have deposited with the Trustee all required payments of the principal of and interest on, the Notes, plus the compensation and reimbursement for the Trustee’s reasonable expenses, disbursements and
advances pursuant to Section 7.06. No such rescission and annulment shall extend to or shall affect any subsequent default or Event of Default, or shall impair any right consequent thereon. The Issuer shall notify the Trustee in writing,
promptly upon becoming aware thereof, of any Event of Default, as provided in Section 4.08. 
 In case the Trustee shall have proceeded
to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned because of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in
every such case the Issuer, the Holders, and the Trustee shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Holders, and the Trustee shall continue as though no such
proceeding had been taken. 
 Section 6.02    Payments of Notes on Default; Suit Therefor. 

The Issuer covenants that in the case of an Event of Default pursuant to Section 6.01(a) or 6.01(b), upon demand of the Trustee, the
Issuer will pay to the Trustee, for the benefit of the Holders, (i) the whole amount that then shall be due and payable on all such Notes for principal and premium, if any, or interest, as the case may be, with interest upon the overdue
principal and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue installments of accrued and unpaid interest at the rate borne by the Notes, plus 1%, from the required payment date
and, (ii) in addition thereto, any amounts due the Trustee under Section 7.06. Until such demand by the Trustee, the Issuer may pay the principal of and premium, if any, and interest on the Notes to the registered Holders, whether or not
the Notes are overdue. 

  
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 In case the Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee,
in its own name and as trustee of an express trust, shall be entitled and empowered to institute any actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to
judgment or final decree, and may enforce any such judgment or final decree against the Issuer or any other obligor on the Notes and collect in the manner provided by law out of the property of the Issuer or any other obligor on the Notes wherever
situated the monies adjudged or decreed to be payable. 
 In case there shall be pending proceedings for the bankruptcy or for the
reorganization of the Issuer or any other obligor on the Notes under any Bankruptcy Law, or any other applicable law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have
been appointed for or taken possession of the Issuer or such other obligor, the property of the Issuer or such other obligor, or in the case of any other judicial proceedings relative to the Issuer or such other obligor upon the Notes, or to the
creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee
shall have made any demand pursuant to the provisions of this Section 6.02, shall be entitled and empowered, by intervention in such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal, premium, if
any, accrued and unpaid interest in respect of the Notes, and, in case of any judicial proceedings, to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and of the
Holders allowed in such judicial proceedings relative to the Issuer or any other obligor on the Notes, its or their creditors, or its or their property, and to collect and receive any monies or other property payable or deliverable on any such
claims, and to distribute the same after the deduction of any amounts due the Trustee under Section 7.06, and to take any other action with respect to such claims, including participating as a member of any official committee of creditors, as
it reasonably deems necessary or advisable, unless prohibited by law or applicable regulations, and any receiver, assignee or trustee in bankruptcy or reorganization, liquidator, custodian or similar official is hereby authorized by each of the
Holders to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for reasonable compensation, expenses, advances and
disbursements, including counsel fees and expenses incurred by it up to the date of such distribution. To the extent that such payment of reasonable compensation, expenses, advances and disbursements out of the estate in any such proceedings shall
be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, monies, securities and other property which the Holders may be entitled to receive in such proceedings,
whether in liquidation or under any plan of reorganization or arrangement or otherwise. 
 All rights of action and of asserting claims
under this Indenture, or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by
the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, be for the ratable benefit of the Holders. 
 In any proceedings brought by the Trustee (and in any proceedings involving the
interpretation of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall be held to represent all the Holders, and it shall not be necessary to make any Holders parties to any such proceedings. 

  
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 Section 6.03    Application of Monies Collected by Trustee. 

Any monies collected by the Trustee pursuant to this Article 6, shall be applied, in the following order, at the date or dates fixed by the
Trustee for the distribution of such monies, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid: 

FIRST: To the payment of all amounts due the Trustee and its agents (and including the Agents) under Section 7.06; 

SECOND: In case the principal of the outstanding Notes shall not have become due and be unpaid, to the payment of accrued and unpaid interest,
if any, on the Notes in default in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the Trustee) as provided in Section 6.02 upon the overdue installments of
interest at the annual rate of 1% above then applicable interest rate, such payments to be made ratably to the Persons entitled thereto; 

THIRD: In case the principal of the outstanding Notes shall have become due, by declaration or otherwise, and be unpaid to the payment of the
whole amount then owing and unpaid upon the Notes for principal and premium, if any, and interest, with interest on the overdue principal and premium, if any, and (to the extent that such interest has been collected by the Trustee) upon overdue
installments of accrued and unpaid interest, as provided in Section 6.02, and in case such monies shall be insufficient to pay in full the whole amounts so due and unpaid upon the Notes, then to the payment of such principal and premium, if
any, and interest without preference or priority of principal and premium, if any, over interest, or of interest over principal and premium, if any, or of any installment of interest over any other installment of interest, or of any Note over any
other Note, ratably to the aggregate of such principal and premium, if any, and accrued and unpaid interest; and 
 FOURTH: To the payment
of the remainder, if any, to the Issuer or any other Person lawfully entitled thereto. 
 Section 6.04    Proceedings by
Holders. 
 No Holder of any Note shall have any right by virtue of or by reference to any provision of this Indenture to institute any
suit, action or proceeding in equity or at law upon or under or with respect to this Indenture, or for the appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any other remedy hereunder, except in the case of
a default in the payment of principal, premium, if any, or interest on the Notes, unless (a) such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as hereinbefore provided,
(b) the Holders of at least 25% in aggregate principal amount of the Notes then outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such indemnity and/or security (including by way of prefunding) reasonably satisfactory to it as it may require against the costs, liabilities or expenses to be incurred therein or thereby, (c) the Trustee for sixty
(60) calendar days after its receipt of such notice, request and offer of indemnity and/or security (including by way of prefunding), shall have neglected or refused to institute any such action, suit or proceeding and (d) no direction
inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.07; it being understood and intended, and being expressly covenanted by the taker and Holder of every Note with every other taker and Holder and
the Trustee, that no one or more Holders shall have any right in any manner whatever by virtue of or by reference to any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder, or to obtain or seek to obtain
priority over or preference to any other such Holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders (except as otherwise provided herein). For the
protection and enforcement of this Section 6.04, each and every Holder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

  
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 Notwithstanding any other provision of this Indenture and any provision of any Note, the
right of any Holder to receive payment of the principal of (including the Redemption Price pursuant to Article 3) and premium, if any, and accrued interest on such Note, on or after the respective due dates expressed in such Note or in the event of
redemption, or to institute suit for the enforcement of any such payment on or after such respective dates against the Issuer shall not be impaired or affected without the consent of such Holder. 

Section 6.05    Proceedings by Trustee. 

In case of an Event of Default, the Trustee may, in its discretion, proceed to protect and enforce the rights vested in it by this Indenture
by such appropriate judicial proceedings as are necessary to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific enforcement of any covenant or
agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

Section 6.06    Remedies Cumulative and Continuing. 

All powers and remedies given by this Article 6 to the Trustee or to the Holders shall, to the extent permitted by law, be deemed cumulative
and not exclusive of any thereof or of any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture,
and no delay or omission of the Trustee or of any Holder to exercise any right or power accruing upon any default or Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of
any such default or any acquiescence therein, and, subject to the provisions of Section 6.04, every power and remedy given by this Article 6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be
deemed expedient, by the Trustee or by the Holders. 
 Section 6.07    Direction of Proceedings and Waiver of Defaults by
Majority of Holders. 
 The Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding shall
have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee; provided that (a) such direction shall not be in conflict
with any rule of law or with this Indenture, (b) the Trustee may take any other action which is not inconsistent with such direction, (c) the Trustee may decline to take any action that would benefit some Holders to the detriment of other
Holders and (d) the Trustee may decline to take any action that would involve the Trustee in personal liability. 
 The Holders of a
majority in aggregate principal amount of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default hereunder and its consequences except (i) a default in the payment of the
principal of (including the Redemption Price upon redemption pursuant to Article 3), premium, if any, or interest on the Notes, (ii) a default in the payment of the Redemption Price on the Redemption Date pursuant to Article 3, or (iii) a
default in respect of a covenant or provisions hereof which under Article 9 cannot be modified or amended without the consent of the Holders of all Notes then outstanding or each Note affected thereby. 

Upon any such waiver, the Issuer, the Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder;
but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. Whenever any default or Event of Default hereunder shall have been waived as permitted by this Section 6.07, said
default or Event of Default shall for all purposes of the Notes and this Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right
consequent thereon. 

  
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 Section 6.08    Notice of Defaults. 

The Trustee shall, within ninety (90) calendar days after a Responsible Officer of the Trustee has actual knowledge of the occurrence of
a default, mail to all Holders (or send by electronic transmission), as the names and addresses of such Holders appear upon the Register, notice of all defaults notified to the Trustee, unless such defaults shall have been cured or waived before the
giving of such notice; provided that except in the case of default in the payment of the principal of (including the Redemption Price upon redemption pursuant to Article 3), or interest on any of the Notes, the Trustee shall be protected in
withholding such notice if and so long as a trust committee of Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders. 

Section 6.09    Undertaking to Pay Costs. 

All parties to this Indenture agree, and each Holder by its acceptance thereof shall be deemed to have agreed, that any court may, in its
discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to
pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; provided that the provisions of this Section 6.09 (to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of
Holders, holding in the aggregate more than ten percent in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any suit instituted by any Holder for the enforcement of the payment of the
principal of (including the Redemption Price upon redemption pursuant to Article 3), or interest on any Note on or after the due date expressed in such Note. 

ARTICLE 7 
 THE TRUSTEE 

Section 7.01    Duties and Responsibilities of Trustee. 

The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred,
undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default has occurred (which has not been cured or waived) and a Responsible Officer of the Trustee is aware of such Event of
Default, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of its own
affairs. 
 No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act or its own willful misconduct, except that: 
 (a)    prior to the occurrence of an Event of
Default and after the curing or waiving of all Events of Default which may have occurred: 
 (i) the duties and obligations
of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 

  
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 (ii) in the absence of negligence and willful misconduct on the part of the
Trustee, the Trustee may conclusively rely as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but,
in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the
requirements of this Indenture; 
 (b)    the Trustee shall not be liable for any error of judgment made in good faith
by a Responsible Officer or Officers of the Trustee, unless the Trustee was negligent in ascertaining the pertinent facts; 

(c)    the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the written direction of the Holders of not less than a majority in principal amount of the Notes at the time outstanding determined as provided in Section 8.04 relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture; 

(d)    whether or not therein provided, every provision of this Indenture relating to the conduct or affecting the
liability of, or affording protection to, the Trustee shall be subject to the provisions of this Section; 
 (e)    the
Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Issuer or any Paying Agent (other than the Trustee) or any records
maintained by any co-registrar (other than the Trustee) with respect to the Notes; 

(f)    if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires
notice to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred unless the Trustee has otherwise received written notice thereof; and 

(g)    the Trustee shall not be deemed to have knowledge of any Event of Default hereunder unless the Trustee shall have
been notified in writing of such Event of Default by the Issuer or a Holder. 
 None of the provisions contained in this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if it believes that the repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to it. 
 Section 7.02    Reliance on Documents,
Opinions, etc. 
 Except as otherwise provided in Section 7.01 hereof: 

(a)    the Trustee may conclusively rely and shall be protected in acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, bond, debenture, Note, coupon or other paper or document (whether in its original or facsimile form) believed by it in good faith to be genuine and to have been signed or presented by the
proper party or parties; 
 (b)    any request, direction, order or demand of the Issuer mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified by the
Secretary or an Assistant Secretary of the General Partner. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance upon such evidence; 

  
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 (c)    the Trustee may consult with counsel or other professional
advisors of its own selection and any advice or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in reliance on and in accordance with such advice
or Opinion of Counsel; 
 (d)    the Trustee shall be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee reasonable security and/or indemnity reasonably satisfactory to it
against the costs, expenses and liabilities which may be incurred therein or thereby; 
 (e)    the Trustee shall not be
bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Trustee may make
such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer,
personally or by agent or attorney; 
 (f)    the Trustee may execute any of the trusts or powers hereunder or perform
any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed by it with due care hereunder; 

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

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

(i)    the Trustee may request that the Issuer deliver an Officers’ Certificate setting forth the names of
individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person
specified as so authorized in any such certificate previously delivered and not superseded; 
 (j)    any permissive
right or authority granted to the Trustee shall not be construed as a mandatory duty; and 
 (k)    the Trustee shall
not be liable for any loss caused by any failure or delay in the performance of its obligations hereunder arising out of or caused by events beyond its reasonable control including any malfunction, interruption or error caused by any machine or
systems or interruption of communication facilities, abnormal operating conditions or events of force majeure; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances. 

  
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 Section 7.03    No Responsibility for Recitals, etc. 

The recitals contained herein and in the Notes (except in the Trustee’s certificate of authentication) shall be taken as the statements
of the Issuer, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Trustee shall not be accountable for the use or
application by the Issuer of any Notes or the proceeds of any Notes authenticated and delivered by the Trustee in conformity with the provisions of this Indenture. 

Section 7.04    Trustee, Paying Agents, Transfer Agent or Registrar May Own Notes. 

The Trustee, any Paying Agent, Transfer Agent or Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes
with the same rights it would have if it were not Trustee, Paying Agent, Transfer Agent or Registrar. 
 Section 7.05    Monies
to Be Held by the Trustee and Agents. 
 Subject to the provisions of Section 11.02, all monies received by the Trustee or Agents
shall, until used or applied as herein provided, be held in trust for the purposes for which they were received. Money held by the Trustee or Agents hereunder need not be segregated from other funds except to the extent required by law. Except as
otherwise provided herein, the Trustee and the Agents shall be under no liability for interest on any money received by it hereunder except as may be agreed in writing from time to time by the Issuer and the Trustee. 

Section 7.06    Compensation and Expenses of Trustee and the Agents. 

The Issuer covenants and agrees to pay to the Trustee and the Agents from time to time, and the Trustee and the Agents shall be entitled to,
such compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to from time to time in writing
between the Issuer and the Trustee or Agents, and the Issuer will pay or reimburse the Trustee and Agents upon their request for all reasonable expenses, disbursements and advances properly incurred or made by the Trustee or Agents in accordance
with any of the provisions of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as may
arise from its negligence, willful misconduct, or bad faith. The Trustee and Agents will have no obligation to act if they determine in good faith that they will incur costs for which they will not be reimbursed. The Issuer also covenants to
indemnify the Trustee and Agents, any predecessor Trustee and Agents (or any officer, director or employee of the Trustee and Agents), in any capacity under this Indenture and any authenticating agent for, and to hold them harmless against, any and
all loss, liability, damage, claim or expense including taxes (other than taxes based on the income of the Trustee or Agents) incurred without negligence, willful misconduct or bad faith on the part of the Trustee or Agents or such officers,
directors or employees, as the case may be, and arising out of or in connection with the acceptance or administration of this trust or in any other capacity hereunder, including the costs and expenses of defending themselves against any claim
(whether asserted by the Issuer, any Holder or any other Person) of liability in the premises. The obligations of the Issuer under this Section 7.06 to compensate or indemnify the Trustee and the Agents and to pay or reimburse the Trustee and
the Agents for their reasonable expenses, disbursements and advances shall be secured by a lien prior to that of the Notes and the Issuer upon all property and funds held or collected by the Trustee as such, except funds held in trust for the
benefit of the Holders of particular Notes. The obligation of the Issuer under this Section shall survive the satisfaction and discharge of this Indenture and shall continue for the benefit of the Trustee or any Agent notwithstanding its resignation
or retirement. No Agent or Trustee will be liable for any consequential or indirect loss of any kind. 
 When the Trustee and its agents and
any authenticating agent incur expenses or render services after an Event of Default specified in Section 6.01(e), 6.01(f) or 6.01(g) with respect to the Issuer occurs, the expenses and the compensation for the services are intended to
constitute reasonable expenses of administration under any bankruptcy, insolvency or similar laws. 

  
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 Section 7.07    Officers’ Certificate as Evidence. 

Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem
it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence, bad faith
or willful misconduct on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee. 

Section 7.08    Conflicting Interests of Trustee. 

If the Trustee has actual knowledge that it has acquired a conflicting interest, the Trustee shall either eliminate such interest within
ninety (90) days or resign, to the extent and in the manner provided by, and subject to the provisions of, this Indenture. 

Section 7.09    Eligibility of Trustee. 

There will at all times be a Trustee hereunder that is a corporation organized and doing business within the European Union or the United
Kingdom that is authorized to exercise corporate trustee power and that is subject to supervision or examination by state or governmental or other regulatory authorities. 

Section 7.10    Resignation or Removal of Trustee and Agents. 

(a)    The Trustee and Agents may at any time resign by giving written notice of such resignation to the Issuer and to the
Holders. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or agent by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to
the resigning Trustee or Agent and one copy to the successor trustee or agent. If no successor trustee or agent shall have been so appointed and have accepted appointment sixty (60) calendar days after the mailing of such notice of resignation
to the Holders, the resigning Trustee or Agent may, upon ten (10) Business Days’ notice to the Issuer and the Holders, appoint a successor identified in such notice or may petition, at the expense of the Issuer, any court of competent
jurisdiction for the appointment of a successor trustee, or, if any Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, subject to the provisions of Section 6.09, on behalf of itself and all others
similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee or agent. 

(b)    In case at any time any of the following shall occur: 

(i) the Trustee shall fail to comply with Section 7.08 after written request therefor by the Issuer or by any Holder who
has been a bona fide holder of a Note or Notes for at least six (6) months; or 
 (ii) the Trustee shall cease to be
eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Issuer or by any such Holder; or 

(iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee
or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

  
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 then, in any such case, the Issuer may remove the Trustee and appoint a successor trustee by written
instrument, in duplicate, executed by order of the Board of Directors, one (1) copy of which instrument shall be delivered to the Trustee so removed and one (1) copy to the successor trustee, or, subject to the provisions of
Section 6.09, any Holder who has been a bona fide holder of a Note or Notes for at least six (6) months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor trustee; provided that if no successor Trustee shall have been appointed and have accepted appointment sixty (60) calendar days after either the Issuer or the Holders has removed the Trustee, or the
Trustee resigns, the Trustee so removed may petition, at the expense of the Issuer, any court of competent jurisdiction for an appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and
prescribe, remove the Trustee and appoint a successor trustee. 
 (c)    Any resignation or removal of the Trustee and
appointment of a successor trustee pursuant to any of the provisions of this Section 7.10 shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(d)    Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s obligations under
Section 7.06 shall continue for the benefit of the retiring Trustee. 
 Section 7.11    Acceptance by Successor Trustee.

 Any successor trustee appointed as provided in Section 7.10 shall execute, acknowledge and deliver to the Issuer and to its
predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the written request of the Issuer or of the successor trustee, the trustee
ceasing to act shall, upon payment of any amount then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act. Upon
request of any such successor trustee, the Issuer shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall,
nevertheless, retain a lien upon all property and funds held or collected by such trustee as such, except for funds held in trust for the benefit of Holders of particular Notes, to secure any amounts then due it pursuant to the provisions of
Section 7.06. 
 No successor trustee shall accept appointment as provided in this Section 7.11 unless, at the time of such
acceptance, such successor trustee shall be qualified under the provisions of Section 7.08 and be eligible under the provisions of Section 7.09. 

Upon acceptance of appointment by a successor trustee as provided in this Section 7.11, the Issuer (or the successor trustee, at the
written direction of the Issuer) shall mail or cause to be mailed (or sent by electronic transmission) notice of the succession of the former trustee hereunder to the Holders at their addresses as they shall appear on the Register. If the Issuer
fails to send such notice within ten (10) calendar days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be sent at the expense of the Issuer. 

Section 7.12    Succession by Merger. 

Any corporation into which the Trustee may be merged or exchanged or with which it may be consolidated, or any corporation resulting from any
merger, exchange or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee (including any trust created by this Indenture), shall be the successor
to the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that in the case of any corporation succeeding to all or substantially all of the corporate trust
business of the Trustee, such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09. 

  
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 In case at the time such successor to the Trustee shall succeed to the trusts created by
this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee or authenticating agent appointed by such predecessor trustee,
and deliver such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee or any authenticating agent appointed by such successor trustee may authenticate such Notes in the
name of the successor trustee; and in all such cases such certificates shall have the full force that is provided in the Notes or in this Indenture; provided that the right to adopt the certificate of authentication of any predecessor Trustee
or authenticate Notes in the name of any predecessor Trustee shall apply only to its successor or successors by merger, exchange or consolidation. 

ARTICLE 8 
 THE HOLDERS 

Section 8.01    Action by Holders. 

Whenever in this Indenture it is provided that the Holders of a specified percentage in aggregate principal amount of the Notes may take any
action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action, the Holders of such specified percentage have joined therein
may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record of the Holders of Notes voting in favor thereof at any
meeting of Holders, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders. Whenever the Issuer or the Trustee solicits the taking of any action by the Holders, the Issuer or the Trustee may
fix in advance of such solicitation a date as the Record Date for determining Holders entitled to take such action. The Record Date, if any, shall be not more than fifteen (15) calendar days prior to the date of commencement of solicitation of
such action. 
 Section 8.02    Proof of Execution by Holders. 

Subject to the provisions of Sections 7.01 and 7.02, proof of the execution of any instrument by a Holder or its agent or proxy shall be
sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall be proved by the registry of such Notes or by a
certificate of the Registrar. 
 Section 8.03    Absolute Owners. 

The Issuer, the Trustee, any Paying Agent and any Registrar may deem the Person in whose name such Note shall be registered upon the Register
to be, and may treat it as, the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Issuer or any Registrar) for the purpose
of receiving payment of or on account of the principal of (including the Redemption Price upon redemption pursuant to Article 3), premium, if any, and interest on such Note, and for all other purposes; and neither the Issuer nor the Trustee nor
any Paying Agent nor any Registrar shall be affected by any notice to the contrary. All such payments so made to any Holder for the time being, or upon its order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy
and discharge the liability for monies payable upon any such Note. 

  
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 Section 8.04    Issuer-owned Notes Disregarded. 

In determining whether the Holders of the requisite aggregate principal amount of Notes have concurred in any direction, consent, waiver or
other action under this Indenture, Notes which are owned by the Issuer or any other obligor on the Notes or any Affiliate of the Issuer or any other obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of any
such determination; provided that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, consent, waiver or other action, only Notes which a Responsible Officer knows are so owned shall be so
disregarded. Notes so owned which have been pledged in good faith may be regarded as outstanding for the purposes of this Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Notes
and that the pledgee is not the Issuer, any other obligor on the Notes or any Affiliate of the Issuer or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full
protection to the Trustee. Upon request of the Trustee, the Issuer shall furnish to the Trustee promptly an Officers’ Certificate listing and identifying all Notes, if any, known by the Issuer to be owned or held by or for the account of any of
the above described Persons, and, subject to Section 7.01, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Notes not listed therein are
outstanding for the purpose of any such determination. 
 Section 8.05    Revocation of Consents; Future Holders Bound. 

At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the
Holders of the percentage in aggregate principal amount of the Notes specified in this Indenture in connection with such action, any Holder of a Note which is shown by the evidence to be included in the Notes the Holders of which have consented to
such action may, by filing written notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action taken by the
Holder of any Note shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Note and of any Notes issued in exchange or substitution therefor, irrespective of whether any notation in regard thereto is made upon
such Note or any Note issued in exchange or substitution therefor. 
 ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01    Without Consent of Holders of Notes. 

The Issuer, the Guarantors and the Trustee may, from time to time, and at any time enter into an indenture or indentures supplemental without
the consent of the Holders of the Notes hereto for one or more of the following purposes: 
 (a)    to cure any
ambiguity, defect or inconsistency in this Indenture; provided that this action shall not adversely affect the interests of Holders of the Notes in any material respect; 

(b)    to evidence a successor to the Issuer as obligor or the Company or the General Partner as Guarantors under this
Indenture; 
 (c)    to make any change that does not adversely affect the interests of the Holders of any Notes then
outstanding; 
 (d)    to provide for the issuance of additional Notes in accordance with the limitations set forth in
the indenture; 
 (e)    to provide for the acceptance of appointment by a successor trustee or facilitate the
administration of the trusts under the indenture by more than one trustee; 

  
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 (f)    reflect the release of the Company or the General Partner, as
Guarantors, in accordance with the provisions of this Indenture; 
 (g)    to secure the Notes; 

(h)    to add Guarantors with respect to the Notes; or 

(i)    to conform the text of this Indenture, any Note Guarantee or the Notes to any provision of the description thereof
set forth in the Listing Particulars to the extent that such provision in the Listing Particulars was intended to be a verbatim recitation of a provision in this Indenture, such Note Guarantee or the Notes (as certified in an Officers’
Certificate). 
 Upon the written request of the Issuer, accompanied by a copy of the resolutions of the Board of Directors certified by the
General Partner’s Secretary or Assistant Secretary authorizing the execution of any supplemental indenture, the Trustee is hereby authorized to join with the Issuer and the Guarantors in the execution of any such supplemental indenture, to make
any further appropriate agreements and stipulations that may be therein contained and to accept the conveyance, transfer and assignment of any property thereunder, but the Trustee shall not be obligated to, but may in its discretion, enter into any
supplemental indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any
supplemental indenture authorized by the provisions of this Section 9.01 may be executed by the Issuer, the Guarantors and the Trustee without the consent of the Holders of any of the Notes at the time outstanding, notwithstanding any of the
provisions of Section 9.02. 
 Section 9.02    With Consent of Holders of Notes. 

With the consent (evidenced as provided in Article 8) of the Holders of not less than a majority in aggregate principal amount of the Notes at
the time outstanding, the Issuer, the Guarantors and the Trustee may, from time to time and at any time, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or any supplemental indenture or modifying in any manner the rights of the Holders of the Notes; provided that no such supplemental indenture shall, without the consent of the Holder of each Note so
affected: 
 (a)    reduce the amount of the Notes whose Holders must consent to an amendment or waiver; 

(b)    reduce the rate of or extend the time for payment of interest (including default interest) on the Notes; 

(c)    reduce the principal of or premium on or change the fixed maturity of the Notes; 

(d)    waive a default in the payment of the principal of or premium or interest on the Notes (except a rescission of
acceleration of the Notes by the holders of at least a majority in aggregate principal amount of the then outstanding Notes and a waiver of the payment default that resulted from such acceleration); 

(e)    make the principal of or premium or interest on the Notes payable in currency other than that stated in the Notes;

 (f)    make any change to certain provisions of this Indenture relating to, among other things, the right of Holders
of the Notes to receive payment of the principal of or premium or interest on the Notes and to institute suit for the enforcement of any such payment and to waivers or amendments; 

  
 45 

 (g)    waive a redemption payment with respect to the Notes; or 

(h)    release the Company or General Partnership as Guarantors of the Notes other than as provided in this Indenture or
modify the Note Guarantees in any manner adverse to the Holders of the Notes. 
 Upon the written request of the Issuer, accompanied by a
copy of the resolutions of the Board of Directors certified by the General Partner’s Secretary or Assistant Secretary authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent
of Holders as aforesaid, the Trustee shall join with the Issuer and the Guarantors in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 It
shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Section 9.03    Effect of Supplemental Indenture. 

Upon the execution of any supplemental indenture pursuant to the provisions of this Article 9, this Indenture shall be and be deemed to be
modified and amended in accordance therewith and the respective rights, limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and the Holders of Notes shall thereafter be determined, exercised and
enforced hereunder, subject in all respects to such modifications and amendments and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all
purposes. 
 Section 9.04    Notation on Notes. 

Notes authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article 9 may bear
a notation in form satisfactory to the Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the Issuer, to any modification of
this Indenture contained in any such supplemental indenture may, at the Issuer’s expense, be prepared and executed by the Issuer, authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to
Section 16.11) and delivered in exchange for the Notes then outstanding, upon surrender of such Notes then outstanding. 

Section 9.05    Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee. 

Prior to entering into any supplemental indenture pursuant to this Article 9, the Trustee shall be provided with an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this Article 9 and is otherwise authorized or permitted by this Indenture. 

ARTICLE 10 
 CONSOLIDATION,
MERGER, SALE CONVEYANCE AND LEASE 
 Section 10.01    Issuer May Consolidate on Certain Terms. 

Nothing contained in this Indenture or in the Notes shall prevent any consolidation or merger of the Issuer with or into any other Person or
Persons (whether or not affiliated with the Issuer), or successive consolidations or mergers in which either the Issuer will be the continuing entity or the 

  
 46 

 
Issuer or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or lease of all or substantially all of the property of the Issuer, to any other
Person (whether or not affiliated with the Issuer); provided, however, that the following conditions are met: 

(a)    the Issuer shall be the continuing entity, or the successor entity (if other than the Issuer) formed by or
resulting from any consolidation or merger or which shall have received the transfer of assets shall expressly assume payment of the principal of and interest on all of the Notes and the due and punctual performance and observance of all of the
covenants and conditions in this Indenture; 
 (b)     immediately after giving effect to such transaction, no Default
or Event of Default shall have occurred and be continuing; and 
 (c)    either the Issuer or the successor Person, in
either case, shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental indenture is required in connection
with such transaction, such supplemental indenture, comply with this Section 10.01 and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Except in the case of a substantially concurrent consolidation, merger, sale, conveyance, transfer or lease of all or substantially all of the
property of the Guarantors in compliance with Section 10.03, no such consolidation, merger, sale, conveyance, transfer or lease shall be permitted by this Section 10.01 unless prior thereto the Guarantors shall have delivered to the
Trustee a Guarantor’s Officers’ Certificate and an Opinion of Counsel, each stating that the Guarantors’ obligations hereunder shall remain in full force and effect thereafter. 

Section 10.02    Issuer Successor to Be Substituted. 

Upon any consolidation by the Issuer with or merger of the Issuer into any other Person or any sale, conveyance, transfer or lease of all or
substantially all of the properties and assets of the Issuer to any Person in accordance with Section 10.01 hereof, the successor Person formed by such consolidation or into which the Issuer is merged or to which such sale, conveyance, transfer
or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such successor Person had been named as the Issuer herein, and thereafter the
predecessor Person shall be released from all obligations and covenants under this Indenture and the Issuer; provided, however, that the predecessor Issuer shall not be relieved from the obligation to pay the principal of and interest on the
Notes except in the case of a sale of all or substantially all of the Issuer’s assets in a transaction that is subject to, and that complies with the provisions of, Section 10.01 hereof. 

In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance)
may be made in the Notes thereafter to be issued as may be appropriate. 
 Section 10.03    Guarantors May Consolidate on
Certain Terms. 
 Nothing contained in this Indenture or in the Notes shall prevent any consolidation or merger of a Guarantor with or
into any other Person or Persons (whether or not affiliated with such Guarantor), or successive consolidations or mergers in which either a Guarantor will be the continuing entity or a Guarantor or its successor or successors shall be a party or
parties, or shall prevent any sale, conveyance, transfer or lease of all or substantially all of the property of a Guarantor, to any other Person (whether or not affiliated with such Guarantor); provided, however, that the following
conditions are met: 
 (a)    a Guarantor shall be the continuing entity, or the successor entity (if other than such
Guarantor) formed by or resulting from any consolidation or merger or which shall have received the transfer of assets shall expressly assume the obligations of such Guarantor under the Note Guarantee and the due and punctual performance and
observance of all of the covenants and conditions in this Indenture; 

  
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 (b)    immediately after giving effect to such transaction, no Default
or Event of Default shall have occurred and be continuing; and 
 (c)    either the relevant Guarantor or the successor
Person, in either case, shall have delivered to the Trustee an Officers’ Certificate of such Guarantor and an Opinion of Counsel, each stating that such consolidation, sale, merger, conveyance, transfer or lease and such supplemental indenture
comply with this Section 10.03 and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Section 10.04    Guarantor Successor to Be Substituted. 

Upon any consolidation or merger or any sale, conveyance, transfer or lease of all or substantially all of the properties and assets of a
Guarantor to any Person in accordance with Section 10.03, the successor Person formed by such consolidation or into which such Guarantor is merged or to which such sale, conveyance, transfer or lease is made shall succeed to, and be substituted
for, and may exercise every right and power of, such Guarantor under this Indenture with the same effect as if such successor Person had been named as the relevant Guarantor herein, and thereafter, the predecessor Person shall be released from all
obligations and covenants under this Indenture; provided, however, that the predecessor Guarantor shall not be relieved from the obligation to guarantee the payment of the principal of and interest on the Notes except in the case of a sale of
all or substantially all of such Guarantor’s assets in a transaction that is subject to, and that complies with the provisions of, Section 10.03 hereof. 

In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance)
may be made in the Notes thereafter to be issued as may be appropriate. 
 ARTICLE 11 

SATISFACTION AND DISCHARGE OF INDENTURE 

Section 11.01    Discharge of Indenture. 

This Indenture shall cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Notes herein
expressly provided for and except as further provided below), and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when (a) either: (1) all
Notes theretofore authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 11.04 and (ii) Notes for whose payment money has theretofore
been deposited in trust and thereafter repaid to the Issuer as provided in Section 11.04) have been delivered to the Trustee for cancellation; or (2) all such Notes not theretofore delivered to the Trustee for cancellation (i) have
become due and payable, whether at the Maturity Date or otherwise, or (ii) are to be called for redemption under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of
the Issuer, and the Issuer, in the case of clause (1) or (2) above, has irrevocably deposited or caused to be irrevocably deposited with the Trustee (or such other entity designated by the Trustee for this purpose) in accordance with the terms
of this Indenture) or a Paying Agent, as applicable), as trust funds in trust cash in an amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for principal and
interest to the date of such deposit (in the case of Notes which have become due and payable) or to the Maturity Date or Redemption Date, as the case may be; provided, however, that there shall not exist, on the date of such deposit, a
Default or Event of Default; provided, further, that such deposit shall not result in a 

  
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breach or violation of, or constitute a Default under, this Indenture or any other agreement or instrument to which the Issuer is a party or to which the Issuer is bound; (b) the Issuer has
paid or caused to be paid all other sums payable hereunder by the Issuer; (c) the Issuer has delivered irrevocable instructions to the Trustee to apply the deposited money towards payment of the Notes at the Maturity Date or on the Redemption
Date, as the case my be; and (d) the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this
Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer to the
Trustee under Section 7.06 shall survive and, if money shall have been deposited with the Trustee pursuant to sub-clause (2) of clause (a) of the first paragraph of this Section, the provisions
of Sections 2.06, 2.07, 2.08 and this Article 11, shall survive until the Notes have been paid in full. 

Section 11.02    Deposited Monies to Be Held in Trust by Trustee. 

Subject to Section 11.04, all monies deposited with the Trustee (or such other entity designated by the Trustee for this purpose in
accordance with the terms of this Indenture) pursuant to Section 7.05 shall be held in trust for the sole benefit of the Holders, and such monies shall be applied by the Trustee to the payment, either directly or through any Paying Agent
(including the Issuer if acting as its own Paying Agent), to the Holders of the particular Notes for the payment or redemption of which such monies have been deposited with the Trustee, of all sums due and to become due thereon for principal,
premium, if any, and interest. The Trustee is not responsible to anyone for interest on any deposited funds except as agreed in writing. 

Section 11.03    Paying Agent to Repay Monies Held. 

Subject to the provisions of Section 11.04, the Trustee shall hold in trust, for the benefit of the Holders, all money deposited with it
pursuant to Section 11.01 and shall apply the deposited money in accordance with this Indenture and the Notes to the payment of the principal of (including the Redemption Price upon redemption pursuant to Article 3) and interest on the Notes.

 Section 11.04    Return of Unclaimed Monies. 

The Trustee and each Paying Agent shall pay to the Issuer upon request any money held by them for the payment of principal or interest that
remains unclaimed for two (2) years after a right to such money has matured; provided, however, that the Trustee or such Paying Agent, before being required to make any such payment, may, at the expense of the Issuer, either publish in a
newspaper of general circulation in The City of New York, or cause to be mailed to each Holder entitled to such money, notice that such money remains unclaimed and that after a date specified therein, which shall be at least thirty
(30) calendar days from the date of such mailing or publication, any unclaimed balance of such money then remaining will be repaid to the Issuer. After payment to the Issuer, Holders entitled to money must look to the Issuer for payment as
general creditors unless an applicable abandoned property law designates another person, and the Trustee and each Paying Agent shall be relieved of all liability with respect to such money. 

Section 11.05    Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 11.02 by reason of any order or judgment of
any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to
Section 11.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 11.02; provided that if the Issuer makes any payment of principal of or interest on any Note following
the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

  
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 ARTICLE 12 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

Section 12.01    Option to Effect Legal Defeasance or Covenant Defeasance. 

The Issuer may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 12.02 or 12.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 12. 

Section 12.02    Legal Defeasance and Discharge. 

Upon the Issuer’s exercise under Section 12.01 hereof of the option applicable to this Section 12.02, the Issuer and the
Guarantors will, subject to the satisfaction of the conditions set forth in Section 12.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes and Note Guarantees on the date the conditions set
forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding Notes and Note Guarantees, which will thereafter be deemed to be “outstanding” only for the purposes of Section 12.05 hereof and the other Sections of this Indenture referred to in clauses (a) and (b) below, and to
have satisfied all their other obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging the same), except for the following
provisions which will survive until otherwise terminated or discharged hereunder: 
 (a)    the rights of Holders of
outstanding Notes to receive payments in respect of the principal of, or interest or premium, if any, on, such Notes when such payments are due from the trust referred to in Section 12.04 hereof; 

(b)    the Issuer’s obligations with respect to such Notes under Article 2 and Section 4.02 hereof; 

(c)    the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuer’s and the
Guarantors’ obligations in connection therewith; and 
 (d)    this Article 12. 

Subject to compliance with this Article 12, the Issuer may exercise its option under this Section 12.02 notwithstanding the prior
exercise of its option under Section 12.03 hereof. 
 Section 12.03    Covenant Defeasance. 

Upon the Issuer’s exercise under Section 12.01 hereof of the option applicable to this Section 12.03, the Issuer and the
Guarantors will, subject to the satisfaction of the conditions set forth in Section 12.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.10, 4.11, 4.12 and 4.13 with respect to the outstanding
Notes on and after the date the conditions set forth in Section 12.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that
such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Note Guarantees, the Issuer and the Guarantors may omit to comply with and will have no
liability in 

  
 50 

 
respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any
reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of
this Indenture and such Notes and Note Guarantees will be unaffected thereby. In addition, upon the Issuer’s exercise under Section 12.01 hereof of the option applicable to this Section 12.03, subject to the satisfaction of the
conditions set forth in Section 12.04 hereof, Sections 6.01(c) and 6.01(d) hereof will not constitute Events of Default. 

Section 12.04    Conditions to Legal or Covenant Defeasance. 

In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 12.02 or 12.03 hereof: 

(a)    the Issuer must irrevocably deposit with the Trustee (or such other entity designated by the Trustee for this
purpose in accordance with the terms of this Indenture), in trust, for the benefit of the Holders, cash in pounds sterling in such amounts as will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm, or firm of
independent public accountants, to pay the principal of, premium if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable Redemption Date, as the case may be, and the Issuer must specify whether the
Notes are being defeased to such stated date for payment or to a particular Redemption Date; 
 (b)    in the case of an
election under Section 12.02 hereof, the Issuer must deliver to the Trustee an Opinion of Counsel confirming that: 

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

(ii) since the date of this Indenture, there has been a change in the applicable federal income tax law, 

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not
recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal
Defeasance had not occurred; 
 (c)    in the case of an election under Section 12.03 hereof, the Issuer must
deliver to the Trustee an Opinion of Counsel confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(d)    no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a
Default or Event of Default resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit relating to other indebtedness being defeased, discharged or replaced), and the granting of liens to secure such
borrowings); 
 (e)    such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or
constitute a default under, any material agreement or instrument (other than this Indenture and the agreements governing any other indebtedness being defeased, discharged or replaced) to which the Issuer or a Guarantor is a party or by which the
Issuer or a Guarantor is bound; 

  
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 (f)    the Issuer must deliver to the Trustee an Officers’
Certificate stating that the deposit was not made by the Issuer with the intent of preferring the Holders of Notes over the other creditors of the Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or
others; and 
 (g)    the Issuer must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

Section 12.05    Deposited Money to be Held in Trust; Other Miscellaneous Provisions. 

Subject to Section 12.06 hereof, all money deposited with the Trustee (or such other entity designated by the Trustee for this purpose in
accordance with the terms of this Indenture) (or other qualifying trustee, collectively for purposes of this Section 12.05, the “Trustee”) pursuant to Section 12.04 hereof in respect of the outstanding Notes will be held
in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as Paying Agent) as the Trustee may determine, to the
Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Issuer will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash deposited pursuant
to Section 12.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 

Notwithstanding anything in this Article 12 to the contrary, the Trustee will deliver or pay to the Issuer from time to time upon the request
of the Issuer any money held by it as provided in Section 12.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be
the opinion delivered under Section 12.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

Section 12.06    Repayment to the Issuer. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium,
if any, or interest on, any Note and remaining unclaimed for two (2) years after such principal, premium, if any, or interest has become due and payable shall be paid to the Issuer on its request or (if then held by the Issuer) will be
discharged from such trust; and the Holder of such Note will thereafter be permitted to look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Issuer as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer cause to be published once, in the New York Times
and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than thirty (30) days from the date of such notification or publication, any unclaimed
balance of such money then remaining will be repaid to the Issuer. 
 Section 12.07    Reinstatement. 

If the Trustee or Paying Agent is unable to apply any pounds sterling in accordance with Section 12.02 or 12.03 hereof, as the case may
be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s and the Guarantors’ obligations under this Indenture and the Notes and the
Note Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 12.02 or 12.03 

  
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hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 12.02 or 12.03 hereof, as the case may be; provided, however,
that, if the Issuer makes any payment of principal of, premium, if any, or interest on, any Note following the reinstatement of its obligations, the Issuer will be subrogated to the rights of the Holders of such Notes to receive such payment from
the money held by the Trustee or Paying Agent. 
 ARTICLE 13 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

Section 13.01    Indenture and Notes Solely Corporate Obligations. 

Except as otherwise expressly provided in Article 15, no recourse for the payment of the principal of (including the Redemption Price upon
redemption pursuant to Article 3) or, premium, if any, or interest, on any Note, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuer in this Indenture or
in any supplemental indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent, officer, director or subsidiary, as
such, past, present or future, of the Issuer, any of the Guarantors or any of their respective subsidiaries or of any successor thereto, either directly or through the Issuer, any of the Guarantors or any of their respective subsidiaries or any
successor thereto, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a
condition of, and as a consideration for, the execution of this Indenture and the issue of the Notes. 
 ARTICLE 14 

MEETINGS OF HOLDERS OF NOTES 

Section 14.01    Purposes for Which Meetings May Be Called. 

A meeting of Holders of Notes may be called at any time and from time to time pursuant to this Article 14 to make, give or take any request,
demand, authorization, direction, notice, consent, waiver or other act provided by this Indenture to be made, given or taken by Holders of Notes. 

Section 14.02    Call, Notice and Place of Meetings. 

(a)    The Trustee may at any time call a meeting of Holders of Notes for any purpose specified in Section 14.01, to
be held at such time and at such place in London, United Kingdom or The City of New York, New York as the Trustee shall determine. Notice of every meeting of Holders of Notes, setting forth the time and the place of such meeting and in general terms
the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 16.03, not less than twenty-one (21) nor more than
one-hundred and eighty (180) days prior to the date fixed for the meeting. 

(b)    In case at any time the Issuer, the Guarantors or the Holders of at least 10% in principal amount of the
outstanding Notes shall have requested the Trustee to call a meeting of the Holders of Notes for any purpose specified in Section 14.01, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and
the Trustee shall not have mailed notice of or made the first publication of the notice of such meeting within twenty-one (21) days after receipt of such request or shall not thereafter proceed to cause
the meeting to be held as provided herein, then the Issuer, the Guarantors, if applicable, or the Holders of Notes in the amount above specified, as the case may be, may determine the time and the place in the City of New York, New York, or London,
United Kingdom, for such meeting and may call such meeting for such purposes by giving notice thereof as provided in clause (a) of this Section. 

  
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 Section 14.03    Persons Entitled to Vote at Meetings. 

To be entitled to vote at any meeting of Holders of Notes, a Person shall be (a) a Holder of one or more outstanding Notes, or (b) a
Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more outstanding Notes by such Holder or Holders. The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Notes shall be
the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel, any representatives of the Guarantors and their counsel and any representatives of the Issuer and its counsel. 

Section 14.04    Quorum; Action. 

The Persons entitled to vote a majority in principal amount of the outstanding Notes shall constitute a quorum for a meeting of Holders of
Notes; provided, however, that if any action is to be taken at the meeting with respect to a consent or waiver which may be given by the Holders of not less than a specified percentage in principal amount of the outstanding Notes, the Persons
holding or representing the specified percentage in principal amount of the outstanding Notes will constitute a quorum. In the absence of a quorum within thirty (30) minutes after the time appointed for any such meeting, the meeting shall, if
convened at the request of Holders of Notes, be dissolved. In any other case the meeting may be adjourned for a period of not less than ten (10) days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the
absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than ten (10) days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting.
Notice of the reconvening of any adjourned meeting shall be given as provided in Section 14.02, except that such notice need be given only once not less than five (5) days prior to the date on which the meeting is scheduled to be
reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the outstanding Notes which shall constitute a quorum. 

Except as limited by the proviso to Section 9.02, any resolution presented to a meeting or adjourned meeting duly reconvened at which a
quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount of the outstanding Notes; provided, however, that, except as limited by the proviso to Section 9.02, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a
majority, in principal amount of the outstanding Notes may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in principal
amount of the outstanding Notes. 
 Any resolution passed or decision taken at any meeting of Holders of Notes duly held in accordance with
this Section 14.04 shall be binding on all the Holders of Notes, whether or not such Holders were present or represented at the meeting. 

Section 14.05    Determination of Voting Rights; Conduct and Adjournment of Meetings. 

(a)    Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may
deem advisable for any meeting of Holders of Notes in regard to proof of the holding of Notes and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies,
certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Notes shall be proved
in the manner specified in Section 8.03 and the appointment of any proxy shall be proved in the manner specified in Section 8.01. 

  
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 (b)    The Trustee shall, by an instrument in writing, appoint a
temporary chairman of the meeting, unless the meeting shall have been called by the Issuer or by Holders of Notes as provided in Section 14.02(b), in which case the Issuer, the Guarantors or the Holders of Notes calling the meeting, as the case
may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the outstanding Notes of such series
represented at the meeting. 
 (c)    At any meeting, each Holder of a Note or proxy shall be entitled to one
(1) vote for each £100,000 principal amount of Notes held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Note challenged as not outstanding and ruled by the chairman
of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Note or proxy. 

(d)    Any meeting of Holders of Notes duly called pursuant to Section 14.02 at which a quorum is present may be
adjourned from time to time by Persons entitled to vote a majority in principal amount of the outstanding Notes represented at the meeting; and the meeting may be held as so adjourned without further notice. 

Section 14.06    Counting Votes and Recording Action of Meetings. 

The vote upon any resolution submitted to any meeting of Holders shall be by written ballots on which shall be subscribed the signatures of
the Holders or of their representatives by proxy and the principal amounts and serial numbers of the outstanding Notes held or represented by them. The permanent chairman of the meeting shall appoint two (2) inspectors of votes who shall count
all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at the meeting. A record, at least in triplicate, of the
proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more
persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 14.02 and, if applicable, Section 14.04. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one (1) such copy shall be delivered to the Issuer and the Guarantors, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the
ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 
 ARTICLE 15

 GUARANTEES 

Section 15.01    Note Guarantee. 

By its execution hereof, each Guarantor acknowledges and agrees that it receives substantial benefits from the Issuer and that such Guarantor
is providing its Note Guarantee for good and valuable consideration, including, without limitation, such substantial benefits. Accordingly, subject to the provisions of this Article 15, each Guarantor hereby unconditionally guarantees to each
Holder of a Note authenticated by the Registrar as authenticating agent and delivered by the Trustee and its successors and assigns that: (i) the principal of (including the Redemption Price upon redemption pursuant to Article 3), premium, if
any, and interest on the Notes shall be duly and punctually paid in full when due, whether at the Maturity Date, upon acceleration, upon redemption or otherwise, and interest on overdue principal, premium, if any, and (to the extent permitted by
law) interest on any interest, if any, on the Notes and all other obligations of the Issuer to the Holders or the Trustee hereunder or under the Notes (including fees, expenses or other) shall be promptly paid in full or performed, all in accordance
with the terms hereof; and (ii) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, the same shall be promptly paid in full when due or performed in accordance with the terms of the extension or
renewal, whether at the Maturity Date, by acceleration, call for redemption or otherwise, subject, however, in the case of clauses (i) and (ii) above, to the limitations set forth in Section 15.03 hereof (collectively, the
“Guarantee Obligations”). 

  
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 Subject to the provisions of this Article 15, each Guarantor hereby agrees that its Note
Guarantee hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to
any thereof, the entry of any judgment against the Issuer, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of such Guarantor. Each Guarantor hereby waives and
relinquishes: (a) any right to require the Trustee, the Holders or the Issuer (each, a “Benefited Party”) to proceed against the Issuer or any other Person or to proceed against or exhaust any security held by a Benefited Party
at any time or to pursue any other remedy in any secured party’s power before proceeding against such Guarantor; (b) any defense that may arise by reason of the incapacity, lack of authority, death or disability of any other Person or
Persons or the failure of a Benefited Party to file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of any other Person or Persons; (c) demand, protest and notice of any kind (except as expressly
required by this Indenture), including but not limited to notice of the existence, creation or incurring of any new or additional indebtedness or obligation or of any action or non-action on the part of such
Guarantor, the Issuer, any Benefited Party, any creditor of such Guarantor or the Issuer or on the part of any other Person whomsoever in connection with any obligations the performance of which are hereby guaranteed; (d) any defense based upon
an election of remedies by a Benefited Party, including but not limited to an election to proceed against such Guarantor for reimbursement; (e) any defense based upon any statute or rule of law which provides that the obligation of a surety
must be neither larger in amount nor in other respects more burdensome than that of the principal; (f) any defense arising because of a Benefited Party’s election, in any proceeding instituted under the Bankruptcy Law, of the application
of Section 1111(b)(2) of the Bankruptcy Code; and (g) any defense based on any borrowing or grant of a security interest under Section 364 of the Bankruptcy Code. Each Guarantor hereby covenants that, except as otherwise provided
therein, its Note Guarantee shall not be discharged except by payment in full of all Guarantee Obligations, including the principal, premium, if any, and interest on the Notes and all other costs provided for under this Indenture or as provided in
Article 7. 
 If any Holder or the Trustee is required by any court or otherwise to return to either the Issuer or the Guarantors, or
any trustee or similar official acting in relation to either the Issuer or the Guarantors, any amount paid by the Issuer or the Guarantors to the Trustee or such Holder, the Note Guarantee, to the extent theretofore discharged, shall be reinstated
in full force and effect. Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guarantee Obligations hereby until payment in full of all such obligations guaranteed hereby. Each
Guarantor agrees that, as between it, on the one hand, and the Holders of Notes and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes
hereof, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guarantee Obligations, and (y) in the event of any acceleration of such obligations as provided in Article 6 hereof, such Guarantee
Obligations (whether or not due and payable) shall forthwith become due and payable by such Guarantor for the purpose of the Note Guarantee. 

Section 15.02    Execution and Delivery of Note Guarantee. 

To evidence the Note Guarantee set forth in Section 15.01 hereof, each Guarantor agrees that a notation of the Guarantee substantially in
the form included in Exhibit E hereto shall be endorsed on each Note authenticated and delivered by the Trustee and that this Indenture shall be executed on behalf of such Guarantor by an officer of such Guarantor. 

  
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 Each Guarantor agrees that the Note Guarantee set forth in this Article 15 shall remain in
full force and effect and apply to all the Notes notwithstanding any failure to endorse on each Note a notation of the Note Guarantee. 
 If
an officer whose facsimile signature is on a Note or a notation of Note Guarantee no longer holds that office at the time the Trustee authenticates the Note on which the Note Guarantee is endorsed, the Note Guarantee shall be valid nevertheless.

 The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Note Guarantee
set forth in this Indenture on behalf of each Guarantor. 
 Section 15.03    Limitation of a Guarantor’s Liability; Certain
Bankruptcy Events. 
 (a)    Each Guarantor, and by its acceptance hereof each Holder, hereby confirms that it is
the intention of all such parties that the Guarantee Obligations of such Guarantor pursuant to its Note Guarantee not constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law. To effectuate the foregoing intention, the Holders and each Guarantor hereby irrevocably agree that the Guarantee Obligations of each Guarantor under this Article 15 shall be
limited to the maximum amount as shall, after giving effect to all other contingent and fixed liabilities of such Guarantor, result in the Guarantee Obligations of such Guarantor under the Note Guarantee not constituting a fraudulent transfer or
conveyance. 
 (b)    Each Guarantor hereby covenants and agrees, to the fullest extent that it may do so under
applicable law, that in the event of the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Issuer, such Guarantor shall not file (or join in any filing of), or otherwise seek to participate in the filing of, any motion or
request seeking to stay or to prohibit (even temporarily) execution on the Note Guarantee and hereby waives and agrees not to take the benefit of any such stay of execution, whether under Section 362 or 105 of the Bankruptcy Law or otherwise.

 Section 15.04    Application of Certain Terms and Provisions to a Guarantor. 

(a)    For purposes of any provision of this Indenture which provides for the delivery by the Guarantors of an
Officers’ Certificate and/or an Opinion of Counsel, the definitions of such terms in Section 1.01 hereof shall apply to such Guarantor as if references therein to the Issuer or the other Guarantor, as applicable, were references to such
Guarantor. 
 (b)    Any request, direction, order or demand which by any provision of this Indenture is to be made by a
Guarantor shall be sufficient if evidenced as described in Section 16.05 hereof as if references therein to the Issuer were references to such Guarantor. 

(c)    Any notice or demand which by any provision of this Indenture is required or permitted to be given or served by the
Trustee or by the Holders of Notes to or on a Guarantor may be given or served as described in Section 16.03 hereof as if references therein to the Issuer were references to such Guarantor. 

(d)    Upon any demand, request or application by a Guarantor to the Trustee to take any action under this Indenture, such
Guarantor shall furnish to the Trustee such certificates and opinions as are required in Section 16.05 hereof as if all references therein to the Issuer were references to such Guarantor. 

  
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 ARTICLE 16 

MISCELLANEOUS PROVISIONS 

Section 16.01    Provisions Binding on Issuer’s and Guarantors’ Successors. 

All the covenants, stipulations, promises and agreements by the Issuer or the Guarantors contained in this Indenture shall bind their
respective successors and assigns whether so expressed or not. 
 Section 16.02    Official Acts by Successor Corporation.

 Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or
officer of the Issuer shall and may be done and performed with like force and effect by the like board, committee or officer of any Person that shall at the time be the lawful sole successor of the Issuer or the Guarantors. 

Section 16.03    Addresses for Notices, etc. 

Any notice or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders
of Notes on the Issuer or the Guarantors shall be in writing in the English language and shall be deemed to have been sufficiently given or made, for all purposes, if given or served by being deposited postage prepaid by registered or certified mail
in a post office letter box, or sent by overnight courier, or sent by telecopier transmission addressed as follows: 
 To the Issuer: 

Digital Stout Holding, LLCc/o Digital Realty Trust, Inc. 

Four Embarcadero Center, Suite 3200 

San Francisco, California 94111 

Telecopier No.: (415) 738-6501 

Attention: General Counsel 

Email address: treasury@digitalrealty.com 

Telecopier No.: (415) 520-9151 

Attention: Vice President, Treasury 

To the Company (as Guarantor): 

Digital Realty Trust, L.P. 

Four Embarcadero Center, Suite 3200 

San Francisco, California 94111 

Telecopier No.: (415) 738-6501 

Attention: General Counsel 

Email address: treasury@digitalrealty.com 

Telecopier No.: (415) 520-9151 

Attention: Vice President, Treasury 

To the General Partner (as Guarantor): 

Digital Realty Trust, Inc. 

Four Embarcadero Center, Suite 3200 

San Francisco, California 94111 

Telecopier No.: (415) 738-6501 

Attention: General Counsel 

  
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 Email address: treasury@digitalrealty.com 

Telecopier No.: (415) 520-9151 

Attention: Vice President, Treasury 

Any notice, direction, request or demand hereunder to or upon the Trustee and the Agents shall be deemed to have been sufficiently given or
made, for all purposes, if given or served by being deposited, postage prepaid, by registered or certified mail in a post office letter box, or sent by overnight courier, or sent by telecopier transmission addressed as follows: 

To the Trustee: 
 Deutsche
Trustee Company Limited 
 Winchester House 

1 Great Winchester Street 

London EC2N 2DB 
 United Kingdom

 Facsimile No.: +44 (0)207 547 6149 

Attention: Trust & Securities Services 

Email address: TSS-GDS.ROW@db.com 

Attention: Issuer Services (Debt and Agency Services) 

To the Paying Agent and Transfer Agent: 

Deutsche Bank AG, London Branch 

Winchester House 
 1 Great
Winchester Street 
 London EC2N 2DB 

United Kingdom 
 Facsimile No.:
+44 (0)207 547 6149 
 Email address: TSS-GDS.ROW@db.com 

Attention: Issuer Services (Debt and Agency Services) 

To the Registrar and Transfer Agent: 

Deutsche Bank Luxembourg S.A. 

2 Boulevard Konrad Adenauer 
 L-1115 Luxembourg 
 Facsimile No.: +(0)44 207 547 6149 

Email address: TSS-GDS.ROW@db.com 

Attention: Issuer Services (Debt and Agency Services) 

The Trustee and the Agents, by notice to the Issuer, may designate additional or different addresses for subsequent notices or communications.

 All notices to the Holders shall be valid if published in a manner which complies with the rules and regulations of the Irish Stock
Exchange or any other relevant authority on which the Notes are for the time being listed and so long as the Notes are admitted to trading on the Global Exchange Market and the guidelines of the Irish Stock Exchange so require, filed with the
Companies Announcement Office of the Irish Stock Exchange. Any such notice will be deemed to have been given on the date of the first publication or, where required to be published in more than one newspaper, on the date of the first publication in
all required newspapers. If publication as provided above is not practicable, notice will be given in such other manner, and shall be deemed to have been given on such date, as the Trustee may approve. 

  
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 Any notice or communication mailed to a Holder shall be mailed by first class mail, postage
prepaid, at such Holder’s address as it appears on the Register and shall be sufficiently given to such Holder if so mailed within the time prescribed. 

Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a
notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

Section 16.04    Governing Law. 

This Indenture shall be governed by, and construed in accordance with, the laws of the State of New York without regard to conflict of law
principles that would result in the application of any laws other than the laws of the State of New York. 

Section 16.05    Evidence of Compliance with Conditions Precedent, Certificates to Trustee. 

Upon any application or demand by the Issuer to the Trustee to take any action under any of the provisions of this Indenture, the Issuer shall
furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with, and, if requested by the Trustee, an Opinion of Counsel
stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 Each certificate or opinion provided
for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include: (1) a statement that the person making such certificate or opinion has read such covenant
or condition; (2) a brief statement as to the nature and scope of the examination or investigation upon which the statement or opinion contained in such certificate or opinion is based; (3) a statement that, in the opinion of such person,
such person has made such examination or investigation as is necessary to enable such person to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the
opinion of such person, such condition or covenant has been complied with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials. 

Section 16.06    Legal Holidays. 

In any case in which the Maturity Date of interest on or principal of the Notes or the Redemption Date of any Note will not be a Business Day,
then payment of such interest on or principal of the Notes need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the Maturity Date or the Redemption Date, and no interest
shall accrue for the period from and after such date. 
 Section 16.07    [Reserved]. 

Section 16.08    No Security Interest Created. 

Nothing in this Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction in which property of the Issuer, the Guarantors or their subsidiaries is located. 

Section 16.09    Benefits of Indenture. 

Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any
authenticating agent, any Registrar and their successors hereunder and the Holders of Notes any benefit or any legal or equitable right, remedy or claim under this Indenture. 

  
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 Section 16.10    Table of Contents, Headings, etc. 

The table of contents and the titles and headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 16.11    Authenticating Agent. 

The Trustee may appoint an authenticating agent that shall be authorized to act on its behalf, and subject to its direction, in the
authentication and delivery of Notes in connection with the original issuance thereof and transfers and exchanges of Notes hereunder, including under Sections 2.04, 2.06, 2.07, 2.08 and 3.04, as fully to all intents and purposes as though the
authenticating agent had been expressly authorized by this Indenture and those Sections to authenticate and deliver Notes. For all purposes of this Indenture, the authentication and delivery of Notes by the authenticating agent shall be deemed to be
authentication and delivery of such Notes “by the Trustee” and a certificate of authentication executed on behalf of the Trustee by an authenticating agent shall be deemed to satisfy any requirement hereunder or in the Notes for the
Trustee’s certificate of authentication. Such authenticating agent shall at all times be a Person eligible to serve as trustee hereunder pursuant to Section 7.09. 

Any corporation into which any authenticating agent may be merged or exchanged or with which it may be consolidated, or any corporation
resulting from any merger, consolidation or exchange to which any authenticating agent shall be a party, or any corporation succeeding to the corporate trust business of any authenticating agent, shall be the successor of the authenticating agent
hereunder, if such successor corporation is otherwise eligible under this Section 16.11, without the execution or filing of any paper or any further act on the part of the parties hereto or the authenticating agent or such successor
corporation. 
 Any authenticating agent may at any time resign by giving written notice of resignation to the Trustee and to the Issuer.
The Trustee may at any time terminate the agency of any authenticating agent by giving written notice of termination to such authenticating agent and to the Issuer. Upon receiving such a notice of resignation or upon such a termination, or in case
at any time any authenticating agent shall cease to be eligible under this Section, the Trustee shall either promptly appoint a successor authenticating agent or itself assume the duties and obligations of the former authenticating agent under this
Indenture and, upon such appointment of a successor authenticating agent, if made, shall give written notice of such appointment of a successor authenticating agent to the Issuer and shall mail notice of such appointment of a successor
authenticating agent to all Holders of Notes as the names and addresses of such Holders appear on the Register. 
 The Issuer agrees to pay
to the authenticating agent from time to time such reasonable compensation for its services as shall be agreed upon in writing between the Issuer and the authenticating agent. 

The provisions of Sections 7.02, 7.03, 7.04 and 8.03 and this Section 16.11 shall be applicable to any authenticating agent. 

The Trustee hereby appoints Deutsche Bank Luxembourg S.A. as the authenticating agent for the Notes. Deutsche Bank Luxembourg S.A. hereby
accepts such appointment, and the Issuer hereby confirms that such appointment is acceptable to it. 

Section 16.12    Execution in Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 

  
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 Section 16.13    Severability. 

In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Deutsche Trustee
Company Limited hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions herein above set forth. 

Section 16.14    USA Patriot Act. 

The parties hereto acknowledge that, in accordance with Section 326 of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (as amended, modified or supplemented from time to time, the “USA Patriot Act”), the Trustee, like all financial institutions, is required to obtain, verify,
and record information that identifies each person or legal entity that opens an account. Each party to this Indenture agrees that it will provide the Trustee with such information as the Trustee may request that is in such party’s possession
in order for the Trustee to satisfy the requirements of the USA Patriot Act. 
 Section 16.15    Submission to Jurisdiction

 Each of the parties hereto irrevocably agrees that any suit, action or proceeding arising out of, related to, or in connection with
this Indenture, the Notes or the transactions contemplated hereby, and any action arising under U.S. federal or state securities laws, may be instituted in any U.S. federal or state court located in the State and City of New York, Borough of
Manhattan; irrevocably waives, to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding; and irrevocably submits to the jurisdiction of such courts in any such
suit, action or proceeding. The Issuer expressly consents to the jurisdiction of any such court in respect of any such action and waives any other requirements of or objections to personal jurisdiction with respect thereto and waives any right to
trial by jury. The Issuer has appointed National Registered Agents, Inc., 111 Eighth Avenue, New York, New York 10011, United States of America, as its authorized agent upon whom process may be served in any such suit, action or proceeding
which may be instituted in any federal or state court located in the State of New York, Borough of Manhattan arising out of or based upon this Indenture, the Notes or the transactions contemplated hereby or thereby, and any action brought under
U.S. federal or state securities laws (the “Authorized Agent”). Such appointment shall be irrevocable unless and until replaced by an agent reasonably acceptable to the Trustee. The Issuer represents and warrants that the Authorized
Agent has agreed to act as said agent for service of process, and the Issuer agrees to take any and all action, including the filing of any and all documents and instruments, that may be necessary to continue such appointment in full force and
effect as aforesaid. Service of process upon the Authorized Agent and written notice of such service to the Issuer shall be deemed, in every respect, effective service of process upon the Issuer. 

[Signatures on following page] 
  

  
 62 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed. 

 

			
	DIGITAL STOUT HOLDING, LLC
	as the Issuer
		
	By:	 	Digital Realty Trust, L.P.,
		 	its sole member
		
	By:	 	Digital Realty Trust, Inc.,
		 	its sole general partner
		
	By:	 	/s/ Andrew P. Power
		 	Name: Andrew P. Power
		 	Title:   Chief Financial Officer
	
	DIGITAL REALTY TRUST, L.P.,
	as the Company and as a Guarantor
		
	By:	 	Digital Realty Trust, Inc.
		 	its sole general partner
		
	By:	 	/s/ Andrew P. Power
		 	Name: Andrew P. Power
		 	Title:   Chief Financial Officer
	
	DIGITAL REALTY TRUST, INC.,
	as the General Partner and as a Guarantor
		
	By:	 	/s/ Andrew P. Power
		 	Name: Andrew P. Power
		 	Title:   Chief Financial Officer

 [Signature Page to Indenture] 

 
			
	DEUTSCHE BANK AG, LONDON BRANCH
	as the Paying Agent and Transfer Agent
		
	By:	 	/s/ David Contino
		 	Name: David Contino
		 	Title:   Director
		
	By:	 	/s/ Kieran Odedra
		 	Name: Kieran Odedra
		 	Title:   Vice President

 [Signature Page to Indenture] 

 
			
	DEUTSCHE BANK LUXEMBOURG S.A.
	as the Registrar and Transfer Agent
		
	By:	 	/s/ David Contino
		 	Name: David Contino
		 	Title:   Attorney
		
	By:	 	/s/ Kieran Odedra
		 	Name: Kieran Odedra
		 	Title:   Attorney

 [Signature Page to Indenture] 

 
			
	DEUTSCHE TRUSTEE COMPANY LIMITED
	as the Trustee
		
	By:	 	/s/ David Contino
		 	Name: David Contino
		 	Title:   Associate Director
		
	By:	 	/s/ Kieran Odedra
		 	Name: Kieran Odedra
		 	Title:   Associate Director

 [Signature Page to Indenture] 

 EXHIBIT A1 

THIS GLOBAL NOTE IS HELD BY THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.09 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO
A SUCCESSOR COMMON DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE COMMON DEPOSITARY TO A NOMINEE OF THE COMMON DEPOSITARY OR BY A NOMINEE OF THE COMMON DEPOSITARY TO THE COMMON DEPOSITARY OR ANOTHER NOMINEE OF THE COMMON DEPOSITARY OR BY THE COMMON
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR COMMON DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR COMMON DEPOSITARY. 
 THIS NOTE AND ANY INTEREST HEREIN HAVE
NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND, ON OR PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS 40 DAYS AFTER THE LATER
OF THE COMMENCEMENT OF THE OFFER OF THIS NOTE AND THE CLOSING DATE OF THE OFFER OF THIS NOTE (OR SUCH SHORTER PERIOD OF TIME PERMITTED BY REGULATION S UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION THEREUNDER), MAY NOT BE OFFERED, SOLD,
ASSIGNED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT (I) TO NON U.S PERSONS IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT (“REGULATION S”), TO THE GUARANTORS OR ANY
SUBSIDIARY THEREOF; OR PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITY ACT AND (II) IN COMPLIANCE WITH ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. AFTER THE RESALE RESTRICTION TERMINATION DATE,
THIS NOTE AND ANY INTEREST HEREIN MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE U.S. SECURITIES ACT AND ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. 

EACH PURCHASER OF THIS NOTE OR ANY INTEREST HEREIN AGREES THAT IT WILL DELIVER TO EACH PURCHASER OF THIS NOTE OR BENEFICIAL INTERESTS HEREIN A NOTICE
SUBSTANTIALLY TO THE EFFECT THEREOF. 

 DIGITAL STOUT HOLDING, LLC 

£400,000,000 3.750% Guaranteed Notes due 2030 

Certificate No. 1 

Common Code: 189117442 

ISIN: XS1891174424 

£400,000,000 
 Digital
Stout Holding, LLC, a Delaware limited liability company (herein called the “Issuer”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to
BT Globenet Nominees Limited, or its registered assigns, the principal sum of four hundred million pounds (£400,000,000), or such lesser amount as is set forth in the Schedule of Exchanges of Interests in the Global Note on the other side of
this Note, on October 17, 2030 at the office or agency of the Issuer maintained for that purpose in accordance with the terms of the Indenture, in such coin or currency of the United Kingdom as at the time of payment shall be legal
tender for the payment of public and private debts, and to pay interest annually in arrears on October 17th of each year, commencing October 17, 2019 on said principal sum at said office or agency, in like coin or currency, at the rate per
annum of 3.750%, from October 17, next preceding the date of this Note to which interest has been paid or duly provided for, unless no interest has been paid or duly provided for on the Notes, in which case from October 17, 2018 until
payment of said principal sum has been made or duly provided for. The Issuer shall pay interest to Holders of record on the Business Day immediately preceding the applicable interest payment date, in accordance with the terms of the Indenture. The
Issuer shall pay interest on any Notes in certificated form by check mailed to the address of the Person entitled thereto as it appears in the Register; provided, however, that a Holder of any Notes in certificated form in the aggregate
principal amount of more than £3.0 million may specify by written notice to the Issuer that it pay interest by wire transfer of immediately available funds to the account specified by the Holder in such notice, or on any Global Notes by
wire transfer of immediately available funds to the account of the Common Depositary or its nominee. 
 The Issuer promises to pay interest
on overdue principal, premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) interest at the rate of 1% per annum above the rate borne by the Notes. 

Reference is made to the further provisions of this Note set forth on the reverse hereof and the Indenture governing this Note. Such further
provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Note shall not be valid or become
obligatory for any purpose until the certificate of authentication hereon shall have been signed manually or by facsimile by the Trustee or a duly authorized authenticating agent under the Indenture. 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed. 

Dated: _______________ 
  

			
	DIGITAL STOUT HOLDING, LLC
	
	 By: Digital Realty Trust, L.P.,
 its
sole member

	
	 By: Digital Realty Trust, Inc.,
 its
sole general partner

 
			
		
	By: 	 	 

 
			
	Name:
	Title:

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes described in the within-named Indenture. 

Dated: _______________ 
  

			
	DEUTSCHE BANK LUXEMBOURG S.A., in its capacity as authenticating agent appointed by the Trustee, DEUTSCHE TRUSTEE COMPANY LIMITED
		
	By:	 	 
		 	Authorized Signatory
		
	By:	 	 
		 	Authorized Signatory

 [FORM OF REVERSE SIDE OF NOTE] 

DIGITAL STOUT HOLDING, LLC 

3.750% Guaranteed Notes due 2030 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its 3.750% Guaranteed Notes due 2030 (herein called the
“Notes”), issued under and pursuant to an Indenture dated as of October 17, 2018 (herein called the “Indenture”), among the Issuer, the Guarantors and Deutsche Trustee Company Limited, as trustee (herein called
the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Issuer and
the Holders of the Notes. Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in the Indenture. 

If an Event of Default (other than an Event of Default specified in Section 6.01(e), 6.01(f) and 6.01(g) with respect to the Issuer)
occurs and is continuing, the principal of, premium, if any and accrued and unpaid interest on all Notes may be declared to be due and payable by either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then
outstanding, and, upon said declaration the same shall be immediately due and payable. If an Event of Default specified in Section 6.01(e), 6.01(f) or 6.01(g) of the Indenture occurs with respect to the Issuer, the principal of and premium, if
any, and interest accrued and unpaid on all the Notes shall be immediately and automatically due and payable without necessity of further action. 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or
modifying in any manner the rights of the Holders of the Notes, subject to exceptions set forth in Section 9.02 of the Indenture. Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal amount
of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default, subject to exceptions set forth in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall impair, as among the Issuer and the Holder of the
Notes, the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or currency herein and in the Indenture
prescribed. 
 The amount of interest payable in respect of this Note for any Interest Period shall be calculated by applying the interest
rate to the principal amount of such Note and rounding the resulting figure to the nearest cent (half a cent being rounded upwards). Where interest is to be calculated in respect of a period which is equal to or shorter than an Interest Period, the day-count fraction applied to calculate the amount of interest payable in respect of this Note shall follow actual/actual (ICMA) basis and shall be the number of days in the relevant period from (and including) the
date from which interest begins to accrue to (but excluding) the date on which it falls due, divided by the number of days in the Interest Period in which the relevant period falls (including the first such day but excluding the last). 

The Notes are issuable in fully registered form, without coupons, in minimum denominations of £100,000 principal amount and any integral
multiple of £1,000 in excess thereof. At the office or agency of the Issuer referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, without payment of any service charge but with payment of a
sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration or exchange of Notes, Notes may be exchanged for a like aggregate principal amount of Notes of any other authorized
denominations. 

 The Issuer shall have the right to redeem the Notes under certain circumstances as set forth
in Section 3.01, Section 3.02 and Section 3.03 of the Indenture. 
 The Notes are not subject to redemption through the
operation of any sinking fund. 
 Except as expressly provided in Article 15 of the Indenture, no recourse for the payment of the principal
of or any premium, if any, or interest, or if any, on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Issuer in the Indenture or in any supplemental
indenture or in any Note, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent, officer, director or subsidiary, as such, past, present or
future, of the Guarantors, the Issuer or any of the Issuer’s Subsidiaries or of any successor thereto, either directly or through the Guarantors, the Issuer or any of the Issuer’s subsidiaries or of any successor thereto, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as consideration for,
the execution of the Indenture and the issue of this Note. 

 Assignment Form 

To assign this Note, fill in the form below: 
  

			
		
	(I) or (we) assign and transfer this Note to:	 	 
		 	(Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

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

			
		
	and irrevocably appoint	 	 

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

Date: _______________ 
  

			
		
	Your Signature:	 	 
	(Sign exactly as your name appears on the face of this Note)

  

			
		
	Signature Guarantee*:	 	 

  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

 Schedule of Exchanges of Interests in the Global Note * 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
decrease in
Principal Amount
at maturity of
this Global Note	    	Amount of
increase in
Principal Amount
at maturity of
this Global Note	    	Principal Amount
at maturity of this
Global Note
following such
decrease
(or increase)	    	Signature of
authorized officer
of Trustee or
Common
Depositary
		  		    		    		    	

  
  

	*	 This schedule should be included only if the Note is issued in global form. 

  

 EXHIBIT A2 

THE RIGHTS ATTACHING TO THIS TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR A PERMANENT GLOBAL NOTE, ARE AS SPECIFIED IN
THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON. 

THIS TEMPORARY GLOBAL NOTE IS HELD BY THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS TEMPORARY GLOBAL NOTE
MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS TEMPORARY GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.09 OF THE INDENTURE AND (4) THIS TEMPORARY GLOBAL
NOTE MAY BE TRANSFERRED TO A SUCCESSOR COMMON DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN
PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE COMMON DEPOSITARY TO A NOMINEE OF THE COMMON DEPOSITARY OR BY A NOMINEE OF THE COMMON DEPOSITARY TO THE COMMON DEPOSITARY OR ANOTHER NOMINEE OF THE COMMON
DEPOSITARY OR BY THE COMMON DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR COMMON DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR COMMON DEPOSITARY. 
 THIS NOTE
AND ANY INTEREST HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), AND, ON OR PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”)
WHICH IS 40 DAYS AFTER THE LATER OF THE COMMENCEMENT OF THE OFFER OF THIS NOTE AND THE CLOSING DATE OF THE OFFER OF THIS NOTE (OR SUCH SHORTER PERIOD OF TIME PERMITTED BY REGULATION S UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION
THEREUNDER), MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF EXCEPT (I) TO NON U.S PERSONS IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE U.S. SECURITIES ACT (“REGULATION S”), TO
THE GUARANTORS OR ANY SUBSIDIARY THEREOF; OR PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITY ACT AND (II) IN COMPLIANCE WITH ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. AFTER THE RESALE
RESTRICTION TERMINATION DATE, THIS NOTE AND ANY INTEREST HEREIN MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE U.S. SECURITIES ACT AND ALL APPLICABLE LAWS OF ANY OTHER JURISDICTION. 

EACH PURCHASER OF THIS NOTE OR ANY INTEREST HEREIN AGREES THAT IT WILL DELIVER TO EACH PURCHASER OF THIS NOTE OR BENEFICIAL INTERESTS HEREIN A NOTICE
SUBSTANTIALLY TO THE EFFECT THEREOF. 

  
 A-13 

 DIGITAL STOUT HOLDING, LLC 

£400,000,000 3.750% Guaranteed Notes due 2030 

Certificate No. 1 

Common Code: 189117442 

ISIN: XS1891174424 

£400,000,000 
 Digital
Stout Holding, LLC, a Delaware limited liability company (herein called the “Issuer”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to
BT Globenet Nominees Limited, or its registered assigns, the principal sum of four hundred million pounds (£400,000,000), or such lesser amount as is set forth in the Schedule of Exchanges of Interests in the Temporary Global Note on
the other side of this Note, on October 17, 2030 at the office or agency of the Issuer maintained for that purpose in accordance with the terms of the Indenture, in such coin or currency of the United Kingdom as at the time of payment shall be
legal tender for the payment of public and private debts, and to pay interest annually in arrears on October 17th of each year, commencing October 17, 2018 on said principal sum at said office or agency, in like coin or currency, at the rate
per annum of 3.750%, from October 17, next preceding the date of this Note to which interest has been paid or duly provided for, unless no interest has been paid or duly provided for on the Notes, in which case from October 17, 2018 until
payment of said principal sum has been made or duly provided for. The Issuer shall pay interest to Holders of record on the Business Day immediately preceding the applicable interest payment date, in accordance with the terms of the Indenture. The
Issuer shall pay interest on any Notes in certificated form by check mailed to the address of the Person entitled thereto as it appears in the Register; provided, however, that a Holder of any Notes in certificated form in the aggregate
principal amount of more than £3.0 million may specify by written notice to the Issuer that it pay interest by wire transfer of immediately available funds to the account specified by the Holder in such notice, or on any Global Notes by
wire transfer of immediately available funds to the account of the Common Depositary or its nominee. 
 Until this Temporary Global Note is
exchanged for one or more Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Temporary Global Note shall in all other respects be entitled to the same benefits as
other Notes under the Indenture. The Permanent Global Note to be issued in exchange for this Temporary Global Note in accordance with the Indenture will be substantially in the form of Exhibit A1 to the Indenture. Beneficial interests represented by
this Temporary Global Note are exchangeable and transferrable only in accordance with, and subject to, the provisions of the Indenture. 

The Issuer promises to pay interest on overdue principal, premium, if any, and (to the extent that payment of such interest is enforceable
under applicable law) interest at the rate of 1% per annum above the rate borne by the Notes. 
 Reference is made to the further provisions
of this Temporary Global Note set forth on the reverse hereof and the Indenture governing this Temporary Global Note. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

This Temporary Global Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have
been signed manually or by facsimile by the Trustee or a duly authorized authenticating agent under the Indenture. 

  
 A-14 

 IN WITNESS WHEREOF, the Issuer has caused this Temporary Global Note to be duly executed.

 Dated: _________ 
  

			
	DIGITAL STOUT HOLDING, LLC
	
	By: Digital Realty Trust, L.P., its sole member
	
	By: Digital Realty Trust, Inc., its sole general partner

 
			
		
	By: 	 	 

 
			
	Name:
	Title:

  
 A-15 

 CERTIFICATE OF AUTHENTICATION 

This is the Temporary Global Note described in the within-named Indenture. 

Dated: __________ 
  

			
	DEUTSCHE BANK LUXEMBOURG S.A., in its capacity as authenticating agent appointed by the Trustee, DEUTSCHE TRUSTEE COMPANY LIMITED
		
	By:	 	 
		 	Authorized Signatory
		
	By:	 	 
		 	Authorized Signatory

  
 A-16 

 [FORM OF REVERSE SIDE OF NOTE] 

DIGITAL STOUT HOLDING, LLC 

£400,000,000 3.750% Guaranteed Notes due 2030 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its £400,000,000 3.750% Guaranteed Notes due 2030
(herein called the “Notes”), issued under and pursuant to an Indenture dated as of October 17, 2018 (herein called the “Indenture”), among the Issuer, the Guarantors and Deutsche Trustee Company Limited, as
trustee (herein called the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the
Trustee, the Issuer and the Holders of the Notes. Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in the Indenture. 

If an Event of Default (other than an Event of Default specified in Section 6.01(e), 6.01(f) and 6.01(g) with respect to the Issuer)
occurs and is continuing, the principal of, premium, if any and accrued and unpaid interest on all Notes may be declared to be due and payable by either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then
outstanding, and, upon said declaration the same shall be immediately due and payable. If an Event of Default specified in Section 6.01(e), 6.01(f) or 6.01(g) of the Indenture occurs with respect to the Issuer, the principal of and premium, if
any, and interest accrued and unpaid on all the Notes shall be immediately and automatically due and payable without necessity of further action. 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or
modifying in any manner the rights of the Holders of the Notes, subject to exceptions set forth in Section 9.02 of the Indenture. Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal amount
of the Notes at the time outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default, subject to exceptions set forth in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall impair, as among the Issuer and the Holder of the
Notes, the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Note at the place, at the respective times, at the rate and in the coin or currency herein and in the Indenture
prescribed. 
 The amount of interest payable in respect of this Note for any Interest Period shall be calculated by applying the interest
rate to the principal amount of such Note and rounding the resulting figure to the nearest cent (half a cent being rounded upwards). Where interest is to be calculated in respect of a period which is equal to or shorter than an Interest Period, the day-count fraction applied to calculate the amount of interest payable in respect of this Note shall follow actual/actual (ICMA) basis and shall be the number of days in the relevant period from (and including) the
date from which interest begins to accrue to (but excluding) the date on which it falls due, divided by the number of days in the Interest Period in which the relevant period falls (including the first such day but excluding the last). 

The Notes are issuable in fully registered form, without coupons, in minimum denominations of £100,000 principal amount and any integral
multiple of £1,000 in excess thereof. At the office or agency of the Issuer referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, without payment of any service charge but with payment of a
sum sufficient to cover any tax, assessment or other governmental charge that may be imposed in connection with any registration or exchange of Notes, Notes may be exchanged for a like aggregate principal amount of Notes of any other authorized
denominations. 

  
 A-17 

 This Temporary Global Note is exchangeable in whole or in part for a Permanent Global Note
only (i) on or after the termination of the Restricted Period (as defined in the Indenture) and (ii) upon presentation of certificates (accompanied by an Opinion of Counsel, if applicable) required by Article 2 of the Indenture. Upon
exchange of this Temporary Global Note for a Permanent Global Note, the Trustee shall cancel this Temporary Global Note. 
 The Issuer shall
have the right to redeem the Notes under certain circumstances as set forth in Section 3.01, Section 3.02 and Section 3.03 of the Indenture. 

The Notes are not subject to redemption through the operation of any sinking fund. 

Except as expressly provided in Article 15 of the Indenture, no recourse for the payment of the principal of or any premium, if any, or
interest, or if any, on this Note, or for any claim based hereon or otherwise in respect hereof, and no recourse under or upon any obligation, covenant or agreement of the Issuer in the Indenture or in any supplemental indenture or in any Note, or
because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, partner, member, manager, employee, agent, officer, director or subsidiary, as such, past, present or future, of the Guarantors, the
Issuer or any of the Issuer’s Subsidiaries or of any successor thereto, either directly or through the Guarantors, the Issuer or any of the Issuer’s subsidiaries or of any successor thereto, whether by virtue of any constitution, statute
or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as consideration for, the execution of the
Indenture and the issue of this Note. 

  
 A-18 

 Assignment Form 

To assign this Note, fill in the form below: 
  

			
		
	(I) or (we) assign and transfer this Note to:	 	 
		 	(Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

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

			
		
	and irrevocably appoint	 	 

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

Date: _______________ 
  

			
		
	Your Signature:	 	 
	(Sign exactly as your name appears on the face of this Note)

  

			
		
	Signature Guarantee*:	 	 

  

	*	 Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to
the Trustee). 

  
 A-19 

 Schedule of Exchanges of Interests in the Temporary Global Note 

The following exchanges of a part of this Temporary Global Note for an interest in another Global Note or for a Definitive Note, or exchanges
of a part of another Global Note or Definitive Note for an interest in this Temporary Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of
decrease in
Principal Amount
at maturity of
this Temporary
Global Note	    	Amount of
increase in
Principal Amount
at maturity of
this Temporary
Global Note	    	Principal Amount
at maturity of this
Temporary
Global Note
following such
decrease
(or increase)	    	Signature
of
authorized
officer of
Trustee
or Common
Depositary
		  		    		    		    	

  

  
 A-20 

 EXHIBIT B 

FORM OF CERTIFICATE OF TRANSFER 
 Digital Stout
Holding, LLC 
 c/o Digital Realty Trust, Inc. 
 Four
Embarcadero Center, Suite 3200 
 San Francisco, California 94111 

Telecopier No.: (415) 738-6501 

Attention: General Counsel 
 Deutsche Trustee Company Limited,

 Winchester House 
 1 Great Winchester Street 

London EC2N 2DB 
 United Kingdom 

 

	 	Re:	 £400,000,000 3.750% Guaranteed Notes due 2030 

Reference is hereby made to the Indenture, dated as of October 17, 2018 (the “Indenture”), among Digital Stout Holding,
LLC, a Delaware limited liability company (the “Issuer”), Digital Realty Trust, L.P., a Maryland limited partnership, Digital Realty Trust, Inc., a Maryland corporation, Deutsche Trustee Company Limited, as Trustee and the agents
signatory thereto. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

____________________, (the “Transferor”) owns and proposes to transfer the Note or interest in such Note specified in
Annex A hereto, in the principal amount of £___________ in such Note or interests (the “Transfer”), to _______________________________ (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 

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

  
 B-1 

 2.  ☐   Check if Transferee will take delivery of a
beneficial interest in [the Temporary Global Note] [a Permanent] Global Note or a Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and,
accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor
and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither
such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b)
of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the
Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Global Note Legend printed on the Global Note or the Definitive Note Legend printed on the Definitive Note, as applicable, and in
the Indenture and the Securities Act. 
 3.  ☐   Check and complete if Transferee will take delivery of a
beneficial interest in a Global Note or a Definitive Note pursuant to any provision of the Securities Act other than Rule 144 or Regulation S. (i) The Transfer is being
effected in compliance with the transfer restrictions applicable to beneficial interests in Global Notes and Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the
United States, and accordingly the Transferor hereby further certifies that (check one): 
 (a)  ☐  such Transfer
is being effected pursuant to and in accordance with Rule 144 under the Securities Act. 
 (b)  ☐  such Transfer
is being effected to the Company or a Subsidiary thereof; or 
 (c)  ☐  such Transfer is being effected to an
Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904 and the Transferor hereby further certifies that it has not engaged in any
general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Global Note or Definitive Notes and the requirements of the exemption
claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor
has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on transfer enumerated in the Global Note Legend printed on the Global Note or the Definitive Note Legend printed on the Definitive Note, as applicable, and in the Indenture and the Securities Act.

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

 

	
	
	   

	[Insert Name of Transferor]

  
 B-2 

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
		
	Dated:	 	 

  
 B-3 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

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

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

(a)  ☐  a beneficial interest in the Global Note (Common Code _________; ISIN _________), or 

(b)  ☐  a Definitive Note. 
  

	2.	 After the Transfer the Transferee will hold: 

[CHECK ONE] 

(a)  ☐  a beneficial interest in the: 

(i)  ☐  Global Note (Common Code _________; ISIN _________), or 

(b)  ☐  a Definitive Note, 

in accordance with the terms of the Indenture. 
  

  
 B-4 

 EXHIBIT C 

FORM OF CERTIFICATE OF EXCHANGE 

Digital Stout Holding, LLC 
 c/o
Digital Realty Trust, Inc. 
 Four Embarcadero Center, Suite 3200 

San Francisco, California 94111 

Telecopier No.: (415) 738-6501 

Attention: General Counsel 

Deutsche Trustee Company Limited 

Winchester House 
 1 Great
Winchester Street 
 London EC2N 2DB 

United Kingdom 
 Facsimile No.:
+44 207 547 6149 
 Attention: Trust & Securities Services 

 

	 	Re:	 £400,000,000 3.750% Guaranteed Notes due 2030 

Reference is hereby made to the Indenture, dated as of October 17, 2018 (the “Indenture”), among Digital Stout Holding,
LLC, a Delaware limited liability company (the “Issuer”), Digital Realty Trust, L.P., a Maryland limited partnership (the “Company” or, a “Guarantor”), Digital Realty Trust, Inc., a Maryland corporation (a
“Guarantor” or, in its capacity as general partner of the Company, the “General Partner”), Deutsche Trustee Company Limited, as trustee, and the agents signatory thereto. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture. 
 __________________________, (the “Owner”) owns and
proposes to exchange the Note or interest in such Note specified herein, in the principal amount of £____________ in such Note or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

 Exchange of Definitive Notes or Beneficial Interests in a Global Note for Definitive Notes or Beneficial Interests in a Global Note 

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

  
 C-1 

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

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

  

			
		
	Dated:	 	 

  

  
 C-2 

 EXHIBIT D 

FORM OF CERTIFICATE OF 
 ACQUIRING
INSTITUTIONAL ACCREDITED INVESTOR 
 Digital Stout Holding, LLC 

c/o Digital Realty Trust, Inc. 
 Four Embarcadero Center, Suite
3200 
 San Francisco, California 94111 
 Telecopier No.: (415) 738-6501 
 Attention: General Counsel 

Deutsche Trustee Company Limited 
 Winchester House 

1 Great Winchester Street 
 London EC2N 2DB 

United Kingdom 
 Facsimile No.: +44 207 547 6149 

Attention: Trust & Securities Services 
  

	 	Re:	 £400,000,000 3.750% Guaranteed Notes due 2030 

Reference is hereby made to the Indenture, dated as of October 17, 2018 (the “Indenture”), among Digital Stout Holding,
LLC, a Delaware limited liability company (the “Issuer”), Digital Realty Trust, L.P., a Maryland limited partnership (the “Company” or, a “Guarantor”), Digital Realty Trust, Inc., a Maryland
corporation (a “Guarantor” or, in its capacity as general partner of the Company, the “General Partner”), and Deutsche Trustee Company Limited, as trustee, and the agents signatory thereto. Capitalized terms used
but not defined herein shall have the meanings given to them in the Indenture. 
 In connection with our proposed purchase of
£____________ aggregate principal amount of: 
 (a)  ☐  a beneficial interest in a Global Note, or 

(b)  ☐  a Definitive Note, 

we confirm that: 

1.    We understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions
and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with, such restrictions and conditions and the Securities Act
of 1933, as amended (the “Securities Act”). 
 2.    We understand that the offer and sale of
the Notes have not been registered under the Securities Act, and that the Notes and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we
are acting as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (A) to the Issuer, the Guarantors or any of the Company’s Subsidiaries, (B) in accordance with Rule 144A under the
Securities Act to a “qualified institutional buyer” (as defined therein), (C) to an institutional “accredited investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S.
broker-dealer) to you and to the Issuer a signed letter substantially in the form of this letter and an Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such transfer is in compliance with the Securities Act,
(D) outside the 

  
 D-1 

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

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

You and the Issuer are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 
  

			
		 	[Insert Name of Accredited Investor]
		
	By:	 	 
		 	Name:
		 	Title:

  

			
		
	Dated:	 	 

  

  
 D-2 

 EXHIBIT E 

[FORM OF NOTATION OF GUARANTEE] 

Each Guarantor listed below (hereinafter referred to as the “Guarantors”, which term includes any successors or assigns under
the Indenture, dated the date hereof (the “Indenture”), among the Guarantors, the Issuer (defined below), Deutsche Trustee Company Limited, as Trustee, and the agents signatory thereto) has irrevocably and unconditionally guaranteed
on a senior basis the Guarantee Obligations (as defined in Section 15.01 of the Indenture), which include (i) the due and punctual payment of the principal of, premium, if any, and interest and if any, on the £400,000,000 3.750%
Guaranteed Notes due 2030 (the “Notes”) of Digital Stout Holding, LLC, a Delaware limited liability company (the “Issuer”), whether at maturity, by acceleration, call for redemption or otherwise, the due and
punctual payment of interest on the overdue principal and premium, if any, and (to the extent permitted by law) interest on any interest on the Notes, and the due and punctual performance of all other obligations of the Issuer, to the Holders of the
Notes or the Trustee all in accordance with the terms set forth in Article 15 of the Indenture, and (ii) in case of any extension of time of payment or renewal of any Notes or any such other obligations, that the same shall be promptly paid in
full when due or performed in accordance with the terms of the extension or renewal, whether at maturity, by acceleration, call for redemption or otherwise. 

The obligations of each Guarantor to the Holders of the Notes and to the Trustee pursuant to this Guarantee and the Indenture are expressly
set forth in Article 15 of the Indenture and reference is hereby made to such Indenture for the precise terms of this Guarantee. 
 No past,
present or future director, officer, employee, incorporator or stockholder (direct or indirect) of each Guarantor (or any such successor entity), as such, shall have any liability for any obligations of such Guarantor under this Guarantee or the
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. 
 Each Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, the benefit of discussion, protest or notice with respect to the
Notes and all demands whatsoever. 
 This is a continuing Guarantee and shall remain in full force and effect and shall be binding upon each
Guarantor and its successors and assigns until full and final payment of all of the Issuer’s obligations under the Notes and Indenture or until legally discharged in accordance with the Indenture and shall inure to the benefit of the successors
and assigns of the Trustee and the Holders of the Notes, and, in the event of any transfer or assignment of rights by any Holder of the Notes or the Trustee, the rights and privileges herein conferred upon that party shall automatically extend to
and be vested in such transferee or assignee, all subject to the terms and conditions hereof. This is a Guarantee of payment and performance and not of collectability. 

This Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Note upon which this Guarantee
is noted shall have been executed by the Trustee under the Indenture by the manual or facsimile signature of one of its authorized officers. 

The obligations of each Guarantor under this Guarantee shall be limited to the extent necessary to insure that it does not constitute a
fraudulent conveyance under applicable law. 
 THE TERMS OF ARTICLE 15 OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE. 

Capitalized terms used herein have the same meanings given in the Indenture unless otherwise indicated. 

  
 E-1 

 IN WITNESS WHEREOF, each Guarantor has caused this instrument to be duly executed. 

Dated: __________ 
  

			
	DIGITAL REALTY TRUST, L.P.
	
	By: Digital Realty Trust, Inc. its sole member.
	
	By:

 
			
		
	By:	 	 

 
			
	Name:
	Title:
	
	DIGITAL REALTY TRUST, INC.
	
	By:

 
			
		
	By:	 	 

 
			
	Name:
	Title:

  

  
 E-2 

 EXHIBIT F 

FORM OF CERTIFICATE RE NON-U.S. STATUS 

£400,000,000 3.750% Guaranteed Notes due 2030 (the “Notes”) of Digital Stout Holding, LLC 

This is to certify that, as of the date hereof, £___________ aggregate principal amount of the above-captioned Notes are beneficially owned by non-U.S. person(s). As used in this paragraph, the term “U.S. person” has the meaning given to it by Regulation S under the Securities Act of 1933, as amended. 

We undertake to advise you promptly by tested telex on or prior to the date on which you intend to submit your certification relating to the Notes held by you
for our account in accordance with your operating procedures if any applicable statement herein is not correct on such date, and in the absence of any such notification it may be assumed that this certification applies as of such date. 

We understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative or
legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorise you to produce this certificate to any interested party in such proceedings. 

 

			
	Dated: ______________________________, ______
		
	By:	 	 
		 	As, or as agent for, the beneficial owner(s) of the Notes to which this certificate relates

  

  
 F-1 

 EXHIBIT G 

[FORM OF DEPOSITARY’S CERTIFICATE] 

Deutsche Trustee Company Limited 
 Winchester House 

1 Great Winchester Street 
 London EC2N 2DB 

United Kingdom 
 £400,000,000 3.750%
Guaranteed Notes due 2030 (the “Notes”) of Digital Stout Holding, LLC 
 Pursuant to Section 2.02(a)(i) of the Indenture (defined below),
this is to certify that, with respect to £___________ aggregate principal amount of the above-captioned Notes, which constitutes 100% of the aggregate principal amount of such Notes, we have received in writing, by tested telex or by
electronic transmission, from member organizations whose names appear in our records as persons being entitled to a portion of the principal amount of Notes set forth above (our “Member Organizations”), certifications with respect to such
portion, substantially to the effect set forth in Exhibit F to the Indenture, dated as of October 17, 2018 (the “Indenture”), among Digital Stout Holding, LLC, Digital Realty Trust, L.P., Digital Realty Trust, Inc. and Deutsche
Trustee Company Limited. 
 We further certify that as of the date hereof we have not received any notification from any of our Member Organizations to the
effect that the statements made by such Member Organizations with respect to any portion of the part submitted herewith for exchange (or, if relevant), exercise of any rights or collection of any interest) are no longer true and cannot be relied
upon as of the date hereof. 
 We understand that this certification is required in connection with certain securities laws of the United States. In
connection therewith, if administrative or legal proceedings are commenced or threatened in connection with which this certification is or would be relevant we irrevocably authorise you to produce this certification to any interested part in such
proceedings. 
  

			
	Dated: ______________________________, ______
	
	Yours faithfully,
	EUROCLEAR

 
			
		
	By:	 	 

 
			
	CLEARSTREAM BANK

  
 G-1Exhibit 10.1

 

Execution Version

 

PURCHASE
AGREEMENT

 

THIS
PURCHASE AGREEMENT (the “Agreement”), dated as of October 18, 2018 (the “Execution Date”),
is entered into by and between ACTINIUM PHARMACEUTICALS, INC., a Delaware corporation (the “Company”),
and LINCOLN PARK CAPITAL FUND, LLC, an Illinois limited liability company (the “Investor”). Capitalized
terms used herein and not otherwise defined herein are defined in Section 1 hereof.

 

WHEREAS:

 

Subject
to the terms and conditions set forth in this Agreement, the Company wishes to sell to the Investor, and the Investor wishes to
buy from the Company, up to Thirty-Two Million Five Hundred Thousand Dollars ($32,500,000.00) (the “Commitment Amount”)
of the Company’s common stock, par value $0.001 per share (the “Common Stock”). The shares of Common
Stock to be purchased hereunder (including, without limitation, the Initial Purchase Shares (as defined herein)) are referred
to herein as the “Purchase Shares”. 

 

NOW
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and the Investor hereby agree as follows:

 

		1.	CERTAIN
                                         DEFINITIONS.

 

For
purposes of this Agreement, the following terms shall have the following meanings:

 

(a) 
“Accelerated Purchase Date” means, with respect to any Accelerated Purchase (as defined below) made pursuant
to Section 2(c) hereof, the Business Day immediately following the applicable Purchase Date with respect to the corresponding
Regular Purchase referred to in clause (i) of the second sentence of Section 2(b) hereof.

 

(b) “Accelerated
Purchase Floor Price” means $0.25, which shall be appropriately adjusted for any reorganization, recapitalization, non-cash
dividend, stock split or other similar transaction and, effective upon the consummation of any such reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction, the Accelerated Purchase Floor Price shall mean the lower
of (i) the adjusted price and (ii) $1.00.

 

(c) “Accelerated
Purchase Minimum Price Threshold” means, with respect to any Accelerated Purchase made pursuant to Section 2(c)
hereof, any minimum per share price threshold set forth in the applicable Accelerated Purchase Notice.

 

(d) “Accelerated
Purchase Notice” means, with respect to an Accelerated Purchase made pursuant to Section 2(c) hereof, an irrevocable
written notice from the Company to the Investor directing the Investor to purchase the applicable Accelerated Purchase Share Amount
at the Accelerated Purchase Price on the Accelerated Purchase Date for such Accelerated Purchase in accordance with this Agreement.

 

     

    

    

 

(e) “Accelerated
Purchase Price” means, with respect to an Accelerated Purchase made pursuant to Section 2(c) hereof, the lower
of (i) ninety-seven percent (97%) of the VWAP for the period beginning at 9:30:01 a.m., Eastern time, on the applicable Accelerated
Purchase Date, or such other time publicly announced by Principal Market as the official open (or commencement) of trading on
the Principal Market on such applicable Accelerated Purchase Date (the “Accelerated Purchase Commencement Time”),
and ending at the earliest of (A) 4:00:00 p.m., Eastern time, on such applicable Accelerated Purchase Date, or such other time
publicly announced by Principal Market as the official close of trading on the Principal Market on such applicable Accelerated
Purchase Date, (B) such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase, that total
number (or volume) of shares of Common Stock traded on the Principal Market has exceeded the applicable Accelerated Purchase Share
Volume Maximum, and (C) such time, from and after the Accelerated Purchase Commencement Time for such Accelerated Purchase, that
the Sale Price has fallen below the applicable Accelerated Purchase Minimum Price Threshold (such earliest of (i)(A), (i)(B) and
(i)(C) above, the “Accelerated Purchase Termination Time”), and (ii) the Closing Sale Price of the Common Stock
on such applicable Accelerated Purchase Date (to be appropriately adjusted for any reorganization, recapitalization, non-cash
dividend, stock split, reverse stock split or other similar transaction).

 

(f) “Accelerated
Purchase Share Amount” means, with respect to an Accelerated Purchase made pursuant to Section 2(c) hereof, the
number of Purchase Shares directed by the Company to be purchased by the Investor in an Accelerated Purchase Notice, which number
of Purchase Shares shall not exceed the lesser of (i) 300% of the number of Purchase Shares directed by the Company to be purchased
by the Investor pursuant to the corresponding Regular Purchase Notice for the corresponding Regular Purchase referred to in clause
(i) of the second sentence of Section 2(c) hereof (subject to the Purchase Share limitations contained in Section 2(c)
hereof) and (ii) an amount equal to (A) the Accelerated Purchase Share Percentage multiplied by (B) the total number (or volume)
of shares of Common Stock traded on the Principal Market during the period on the applicable Accelerated Purchase Date beginning
at the Accelerated Purchase Commencement Time for such Accelerated Purchase and ending at the Accelerated Purchase Termination
Time for such Accelerated Purchase.

 

(g) “Accelerated
Purchase Share Percentage” means, with respect to an Accelerated Purchase made pursuant to Section 2(c) hereof,
thirty percent (30%).

 

(h) “Accelerated
Purchase Share Volume Maximum” means, with respect to an Accelerated Purchase made pursuant to Section 2(c) hereof,
a number of shares of Common Stock equal to (i) the applicable Accelerated Purchase Share Amount to be purchased by the Investor
pursuant to the applicable Accelerated Purchase Notice for such Accelerated Purchase, divided by (ii) the Accelerated Purchase
Share Percentage (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse
stock split or other similar transaction).

 

(i) “Additional
Accelerated Purchase Date” means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(d)
hereof, the Business Day (i) that is the Accelerated Purchase Date with respect to the corresponding Accelerated Purchase
referred to in Section 2(c) hereof and (ii) on which the Investor receives, prior to 1:00 p.m., Eastern time, on such Business
Day, a valid Additional Accelerated Purchase Notice for such Additional Accelerated Purchase in accordance with this Agreement.

 

(j) “Additional
Accelerated Purchase Floor Price” means $0.25, which shall be appropriately adjusted for any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction and, effective upon the consummation of any such reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction, the Additional Accelerated Purchase Floor Price shall mean the lower
of (i) the adjusted price and (ii) $1.00.

 

(k) “Additional
Accelerated Purchase Minimum Price Threshold” means, with respect to an Additional Accelerated Purchase made pursuant
to Section 2(d) hereof, any minimum per share price threshold set forth in the applicable Additional Accelerated Purchase
Notice.

 

    	 	-2-	 

    

    

 

(l) “Additional
Accelerated Purchase Notice” means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(d)
hereof, an irrevocable written notice from the Company to the Investor directing the Investor to purchase the applicable Additional
Accelerated Purchase Share Amount at the Additional Accelerated Purchase Price for such Additional Accelerated Purchase in accordance
with this Agreement.

 

(m) “Additional
Accelerated Purchase Price” means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c)
hereof, the lower of (i) ninety-seven percent (97%) of the VWAP for the period on the applicable Additional Accelerated Purchase
Date, beginning at the latest of (A) the applicable Accelerated Purchase Termination Time with respect to the corresponding Accelerated
Purchase referred to in Section 2(c) hereof on such Additional Accelerated Purchase Date, (B) the applicable Additional
Accelerated Purchase Termination Time with respect to the most recently completed prior Additional Accelerated Purchase on such
Additional Accelerated Purchase Date, as applicable, and (C) the time at which all Purchase Shares subject to all prior Accelerated
Purchases and Additional Accelerated Purchases (as applicable), including, without limitation, those that have been effected on
the same Business Day as the applicable Additional Accelerated Purchase Date with respect to which the applicable Additional Accelerated
Purchase relates, have theretofore been received by the Investor as DWAC Shares in accordance with this Agreement (such latest
of (i)(A), (i)(B) and (i)(C) above, the “Additional Accelerated Purchase Commencement Time”), and ending at
the earliest of (X) 4:00 p.m., Eastern time, on such Additional Accelerated Purchase Date, or such other time publicly announced
by Principal Market as the official close of trading on the Principal Market on such Additional Accelerated Purchase Date, (Y)
such time, from and after the Additional Accelerated Purchase Commencement Time for such Additional Accelerated Purchase, that
total number (or volume) of shares of Common Stock traded on the Principal Market has exceeded the applicable Additional Accelerated
Purchase Share Volume Maximum, and (Z) such time, from and after the Additional Accelerated Purchase Commencement Time for such
Additional Accelerated Purchase, that the Sale Price has fallen below the applicable Additional Accelerated Purchase Minimum Price
Threshold (if any) (such earliest of (i)(X), (i)(Y) and (i)(Z) above, the “Additional Accelerated Purchase Termination
Time”), and (ii) the Closing Sale Price of the Common Stock on such Additional Accelerated Purchase Date (to be appropriately
adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

 

(n) “Additional
Accelerated Purchase Share Amount” means, with respect to an Additional Accelerated Purchase made pursuant to Section
2(d) hereof, the number of Purchase Shares directed by the Company to be purchased by the Investor on an Additional Accelerated
Purchase Notice, which number of Purchase Shares shall not exceed the lesser of (i) 300% of the number of Purchase Shares directed
by the Company to be purchased by the Investor pursuant to the corresponding Regular Purchase Notice for the corresponding Regular
Purchase referred to in Section 2(d) hereof (subject to the Purchase Share limitations contained in Section 2(b)
hereof) and (ii) an amount equal to (A) the Additional Accelerated Purchase Share Percentage multiplied by (B) the total number
(or volume) of shares of Common Stock traded on the Principal Market during the period on the applicable Additional Accelerated
Purchase Date beginning at the Additional Accelerated Purchase Commencement Time for such Additional Accelerated Purchase and
ending at the Additional Accelerated Purchase Termination Time for such Additional Accelerated Purchase.

 

(o) “Additional
Accelerated Purchase Share Percentage” means, with respect to an Additional Accelerated Purchase made pursuant to Section
2(d) hereof, thirty percent (30%).

 

    	 	-3-	 

    

    

 

(p) “Additional
Accelerated Purchase Share Volume Maximum” means, with respect to an Additional Accelerated Purchase made pursuant to
Section 2(d) hereof, a number of shares of Common Stock equal to (i) the applicable Additional Accelerated Purchase Share
Amount properly directed by the Company to be purchased by the Investor in the applicable Additional Accelerated Purchase Notice
for such Additional Accelerated Purchase, divided by (ii) the Additional Accelerated Purchase Share Percentage (to be appropriately
adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction)

 

(q) “Alternate
Adjusted Regular Purchase Share Limit” means, with respect to a Regular Purchase made pursuant to Section 2(b)
hereof, the maximum number of Purchase Shares which, taking into account the applicable per share Purchase Price therefor calculated
in accordance with this Agreement, would enable the Company to deliver to the Investor, on the applicable Purchase Date for such
Regular Purchase, a Regular Purchase Notice for a Purchase Amount equal to, or as closely approximating without exceeding, One
Million Five Hundred Thousand Dollars ($1,500,000).

 

(r) “Available
Amount” means, initially, Thirty-Two Million Five Hundred Thousand Dollars ($32,500,000) in the aggregate, which amount
shall be reduced by the Purchase Amount each time the Investor purchases Purchase Shares pursuant to Section 2 hereof.

 

(s) “Average
Price” means a price per Purchase Share (rounded to the nearest tenth of a cent) equal to the quotient obtained by dividing
(i) the aggregate gross purchase price paid by the Investor for all Purchase Shares purchased pursuant to this Agreement, by (ii)
the aggregate number of Purchase Shares issued pursuant to this Agreement.

 

(t) “Bankruptcy
Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.

 

(u) “Base
Prospectus” means the Company’s final base prospectus, dated October 24, 2017, a preliminary form of which is
included in the Registration Statement, including the documents incorporated by reference therein.

 

(v) “Business
Day” means any day on which the Principal Market is open for trading, including any day on which the Principal Market
is open for trading for a period of time less than the customary time.

 

(w) “Common
Stock Equivalents” means any securities of the Company or its Subsidiaries which entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock.

 

(x) “Closing
Sale Price” means, for any security as of any date, the last closing sale price for such security on the Principal Market
as reported by the Principal Market.

 

(y) “Confidential
Information” means any information disclosed by either party to the other party, either directly or indirectly, in writing,
orally or by inspection of tangible objects (including, without limitation, documents, prototypes, samples, plant and equipment),
which is designated as "Confidential," "Proprietary" or some similar designation. Information communicated
orally shall be considered Confidential Information if such information is confirmed in writing as being Confidential Information
within ten (10) Business Days after the initial disclosure. Confidential Information may also include information disclosed to
a disclosing party by third parties. Confidential Information shall not, however, include any information which (i) was publicly
known and made generally available in the public domain prior to the time of disclosure by the disclosing party; (ii) becomes
publicly known and made generally available after disclosure by the disclosing party to the receiving party through no action
or inaction of the receiving party; (iii) is already in the possession of the receiving party without confidential restriction
at the time of disclosure by the disclosing party as shown by the receiving party’s files and records immediately prior
to the time of disclosure; (iv) is obtained by the receiving party from a third party without a breach of such third party’s
obligations of confidentiality; (v) is independently developed by the receiving party without use of or reference to the disclosing
party’s Confidential Information, as shown by documents and other competent evidence in the receiving party’s possession;
or (vi) is required by law to be disclosed by the receiving party, provided that the receiving party gives the disclosing party
prompt written notice of such requirement prior to such disclosure and assistance in obtaining an order protecting the information
from public disclosure.

 

    	 	-4-	 

    

    

 

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

 

(aa)“DTC”
means The Depository Trust Company, or any successor performing substantially the same function for the Company.

 

(bb)“DWAC
Shares” means shares of Common Stock that are (i) issued in electronic form, (ii) freely tradable and transferable and
without restriction on resale and (iii) timely credited by the Company, once a DWAC notice is received, to the Investor’s
or its designee’s specified Deposit/Withdrawal at Custodian (DWAC) account with DTC under its Fast Automated Securities
Transfer (FAST) Program, or any similar program hereafter adopted by DTC performing substantially the same function.

 

(cc)“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

(dd)“Floor
Price” means $0.15, which shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend,
stock split, reverse stock split or other similar transaction and, effective upon the consummation of any such reorganization,
recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction, the Floor Price shall mean
the lower of (i) the adjusted price and (ii) $0.15.

 

(ee)“Fully
Adjusted Regular Purchase Share Limit” means, with respect to any reorganization, recapitalization, non-cash dividend,
stock split or other similar transaction from and after the date of this Agreement, the Regular Purchase Share Limit (as defined
in Section 2(b) hereof) in effect on the applicable date of determination, after giving effect to the full proportionate
adjustment thereto made pursuant to Section 2(b) hereof for or in respect of such reorganization, recapitalization, non-cash
dividend, stock split or other similar transaction.

 

(ff)“Initial
Prospectus Supplement” means the prospectus supplement of the Company relating to the Securities, including the accompanying
Base Prospectus, to be prepared and filed by the Company with the SEC pursuant to Rule 424(b)(5) under the Securities Act and
in accordance with Section 5(a) hereof, together with all documents and information incorporated therein by reference.

 

(gg)“Material
Adverse Effect” means any material adverse effect on (i) the enforceability of any Transaction Document, (ii) the
results of operations, assets, business or financial condition of the Company and its Subsidiaries, taken as a whole, other than
any material adverse effect that resulted exclusively from (A) any change in the United States or foreign economies or securities
or financial markets in general that does not have a disproportionate effect on the Company and its Subsidiaries, taken as a whole,
(B) any change that generally affects the industry in which the Company and its Subsidiaries operate that does not have a
disproportionate effect on the Company and its Subsidiaries, taken as a whole, (C) any change arising in connection with
earthquakes, hostilities, acts of war, sabotage or terrorism or military actions or any escalation or material worsening of any
such hostilities, acts of war, sabotage or terrorism or military actions existing as of the date hereof, (D) any action taken
by the Investor, its affiliates or its or their successors and assigns with respect to the transactions contemplated by this Agreement,
(E) the effect of any change in applicable laws or accounting rules that does not have a disproportionate effect on the Company
and its Subsidiaries, taken as a whole, or (F) any change resulting from compliance with terms of this Agreement or the consummation
of the transactions contemplated by this Agreement, or (iii) the Company’s ability to perform in any material respect
on a timely basis its obligations under any Transaction Document to be performed as of the date of determination.

 

    	 	-5-	 

    

    

 

(hh)“Maturity
Date” means the first day of the month immediately following the thirty (30) month anniversary of the Commencement Date.

 

(ii) “PEA
Period” means the period commencing at 9:30 a.m., Eastern time, on the fifth (5th) Business Day immediately
prior to the filing of any post-effective amendment to the Registration Statement (as defined herein) or New Registration Statement
(as such term is defined in the Registration Rights Agreement), and ending at 9:30 a.m., Eastern time, on the Business Day immediately
following, the effective date of any post-effective amendment to the Registration Statement (as defined herein) or New Registration
Statement (as such term is defined in the Registration Rights Agreement).

 

(jj)“Person”
means an individual or entity including but not limited to any limited liability company, a partnership, a joint venture, a corporation,
a trust, an unincorporated organization and a government or any department or agency thereof.

 

(kk)“Principal
Market” means The NYSE American (or any nationally recognized successor thereto); provided, however, that in the event
the Company’s Common Stock is ever listed or traded on the Nasdaq Global Select Market, the Nasdaq Global Market, The Nasdaq
Capital Market, the New York Stock Exchange, the NYSE Arca, the OTC Bulletin Board, or the OTCQX or OTCQB operated by the OTC
Markets Group, Inc. (or any nationally recognized successor to any of the foregoing), then the “Principal Market”
shall mean such other market or exchange on which the Company’s Common Stock is then listed or traded.

 

(ll)“Prospectus”
means the Base Prospectus, as supplemented by any Prospectus Supplement (including the Initial Prospectus Supplement), including
the documents and information incorporated by reference therein.

 

(mm)“Prospectus
Supplement” means any prospectus supplement to the Base Prospectus (including the Initial Prospectus Supplement) filed
with the SEC pursuant to Rule 424(b) under the Securities Act in connection with the transactions contemplated by this Agreement,
including the documents and information incorporated by reference therein.

 

(nn)“Purchase
Amount” means, with respect to any Regular Purchase, any Accelerated Purchase or any Additional Accelerated Purchase
made hereunder, as applicable, the portion of the Available Amount to be purchased by the Investor pursuant to Section 2
hereof.

 

(oo) “Purchase
Date” means, with respect to a Regular Purchase made pursuant to Section 2(b) hereof, the Business Day on which
the Investor receives, after 4:00 p.m., Eastern time, but prior to 5:00 p.m., Eastern time, on such Business Day, a valid Regular
Purchase Notice for such Regular Purchase in accordance with this Agreement.

 

    	 	-6-	 

    

    

 

(pp)“Purchase
Price” means, with respect to any Regular Purchase made pursuant to Section 2(b) hereof, the lower of: (i) the
lowest Sale Price on the applicable Purchase Date for such Regular Purchase and (ii) the arithmetic average of the three (3) lowest
Closing Sale Prices for the Common Stock during the ten (10) consecutive Business Days prior to the Purchase Date for such Regular
Purchase (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split
or other similar transaction that occurs on or after the date of this Agreement).

 

(qq)“Registration
Statement” means the effective registration statement on Form S-3 (Commission File No. 333-216748) filed by the Company
with the SEC pursuant to the Securities Act for the registration of shares of its Common Stock, including the Securities, and
certain other securities of the Company, as such Registration Statement has been or may be amended and supplemented from time
to time, including all documents filed as part thereof or incorporated by reference therein, and including all information deemed
to be a part thereof at the time of effectiveness pursuant to Rule 430B of the Securities Act, including any comparable successor
registration statement filed by the Company with the SEC pursuant to the Securities Act for the registration of shares of its
Common Stock, including the Securities.

 

(rr)“Regular
Purchase Notice” means, with respect to any Regular Purchase pursuant to Section 2(b) hereof, an irrevocable
written notice from the Company to the Investor directing the Investor to buy such applicable amount of Purchase Shares at the
applicable Purchase Price as specified by the Company therein on the applicable Purchase Date for such Regular Purchase.

 

(ss)“Sale
Price” means any trade price for the shares of Common Stock on the Principal Market as reported by the Principal Market.

 

(tt)“SEC”
means the U.S. Securities and Exchange Commission.

 

(uu)“Securities”
means, collectively, the Purchase Shares and the Commitment Shares (as defined below).

 

(vv)“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

(ww)“Subsidiary”
means any Person the Company wholly-owns or controls, or in which the Company, directly or indirectly, owns a majority of the
voting stock or similar voting interest, in each case that would be disclosable pursuant to Item 601(b)(21) of Regulation S-K
promulgated under the Securities Act.

 

(xx) “Transaction
Documents” means, collectively, this Agreement and the schedules and exhibits hereto, the Registration Rights Agreement
and the schedules and exhibits thereto, and each of the other agreements, documents, certificates and instruments entered into
or furnished by the parties hereto in connection with the transactions contemplated hereby and thereby.

 

(yy)“Transfer
Agent” means Action Stock Transfer Corporation, or such other Person who is then serving as the transfer agent for the Company
in respect of the Common Stock.

 

(zz)“VWAP”
means in respect of an Accelerated Purchase Date and an Additional Accelerated Purchase Date, as applicable, the volume weighted
average price of the Common Stock on the Principal Market, as reported on the Principal Market or by another reputable source
such as Bloomberg, L.P.

 

    	 	-7-	 

    

    

 

2. PURCHASE
OF COMMON STOCK.

 

Subject
to the terms and conditions set forth in this Agreement, the Company has the right, but not the obligation, to sell to the Investor,
in the Company’s sole and absolute discretion, and the Investor has the obligation to purchase from the Company, Purchase
Shares as follows:

 

(a) Initial
Purchase. Upon the satisfaction of the conditions set forth in Sections 7 and 8 hereof (the “Commencement”
and the date of satisfaction of such conditions the “Commencement Date”), the Investor shall purchase US$2,500,000.00
worth of Purchase Shares at a price equal to $0.74 (such purchase the “Initial Purchase” and such Purchase
Shares, the “Initial Purchase Shares”). Upon issuance and payment therefor as provided herein, such Initial
Purchase Shares shall be validly issued and fully paid and non-assessable. Thereafter, the purchase and sale of the Purchase Shares
hereunder shall occur from time to time upon written notices by the Company to the Investor on the terms and conditions as set
forth herein.

 

(b) Commencement
of Regular Sales of Common Stock. Beginning one (1) Business Day following the Commencement Date and thereafter, the Company
shall have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of a Regular Purchase Notice
from time to time, to purchase up to Four Hundred Thousand (400,000) Purchase Shares, subject to adjustment as set forth below
in this Section 2(b) (such maximum number of Purchase Shares, as may be adjusted from time to time, the “Regular
Purchase Share Limit”), at the Purchase Price on the Purchase Date (each such purchase a “Regular Purchase”);
provided, however, that (i) the Regular Purchase Share Limit shall be increased to Five Hundred Thousand (500,000)
Purchase Shares, if the Closing Sale Price of the Common Stock on the applicable Purchase Date is not below $0.50, and (ii) the
Regular Purchase Share Limit shall be increased to Six Hundred Thousand (600,000) Purchase Shares, if the Closing Sale Price of
the Common Stock on the applicable Purchase Date is not below $0.75 (all of which share and dollar amounts shall be appropriately
proportionately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction;
provided that if, after giving effect to the full proportionate adjustment to the Regular Purchase Share Limit therefor,
the Fully Adjusted Regular Purchase Share Limit then in effect would preclude the Company from delivering to the Investor a Regular
Purchase Notice hereunder for a Purchase Amount (calculated by multiplying (X) the number of Purchase Shares equal to the Fully
Adjusted Regular Purchase Share Limit, by (Y) the Purchase Price per Purchase Share covered by such Regular Purchase Notice on
the applicable Purchase Date therefor) equal to or greater than One Million Five Hundred Thousand Dollars ($1,500,000), the Regular
Purchase Share Limit for such Regular Purchase Notice shall not be fully adjusted to equal the applicable Fully Adjusted Regular
Purchase Share Limit, but rather the Regular Purchase Share Limit for such Regular Purchase Notice shall be adjusted to equal
the applicable Alternate Adjusted Regular Purchase Share Limit as of the applicable Purchase Date for such Regular Purchase Notice);
and provided, further, however, that the Investor’s committed obligation under any single Regular Purchase,
other than any Regular Purchase with respect to which an Alternate Adjusted Regular Purchase Share Limit shall apply, shall not
exceed One Million and Five Hundred Thousand Dollars ($1,500,000) and provided, further, however, that the
parties may mutually agree to increase the Regular Purchase Share Limit. If the Company delivers any Regular Purchase Notice for
a Purchase Amount in excess of the limitations contained in the immediately preceding sentence, such Regular Purchase Notice shall
be void ab initio to the extent of the amount by which the number of Purchase Shares set forth in such Regular Purchase
Notice exceeds the number of Purchase Shares which the Company is permitted to include in such Regular Purchase Notice in accordance
herewith, and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Regular Purchase
Notice; provided, however, that the Investor shall remain obligated to purchase the number of Purchase Shares which
the Company is permitted to include in such Regular Purchase Notice. The Company may deliver a Regular Purchase Notice to the
Investor as often as every Business Day, so long as the Company has not failed to deliver Purchase Shares for the most recent
prior Regular Purchase. Notwithstanding the foregoing, the Company shall not deliver a Regular Purchase Notice to the Investor
(i) on any Purchase Date that the Closing Sale Price of the Common Stock is less than the Floor Price or (ii) during the PEA Period.

 

    	 	-8-	 

    

    

 

(c)
 Accelerated Purchases. Subject to the terms and conditions of this Agreement,
from and after the Commencement Date, in addition to purchases of Purchase Shares as described in Section 2(b) above, the
Company shall also have the right, but not the obligation, to direct the Investor, by its delivery to the Investor of an Accelerated
Purchase Notice from time to time in accordance with this Agreement, to purchase the applicable Accelerated Purchase Share Amount
at the Accelerated Purchase Price on the Accelerated Purchase Date therefor in accordance with this Agreement (each such purchase,
an “Accelerated Purchase”). The Company may deliver an Accelerated Purchase Notice to the Investor only on
a Purchase Date on which (i) the Company also properly submitted a Regular Purchase Notice providing for a Regular Purchase of
a number of Purchase Shares not less than the Regular Purchase Share Limit then in effect on such Purchase Date in accordance
with this Agreement (including, without limitation, giving effect to any automatic increase to the Regular Purchase Share Limit
as a result of the Closing Sale Price of the Common Stock exceeding certain thresholds set forth in Section 2(b) above
on such Purchase Date and any other adjustments to the Regular Purchase Share Limit, in each case pursuant to Section 2(b)
above) and (ii) the Closing Sale Price of the Common Stock is not less than the Accelerated Purchase Floor Price. If the Company
delivers any Accelerated Purchase Notice directing the Investor to purchase an amount of Purchase Shares that exceeds the Accelerated
Purchase Share Amount that the Company is then permitted to include in such Accelerated Purchase Notice, such Accelerated Purchase
Notice shall be void ab initio to the extent of the amount by which the number of Purchase Shares set forth in such Accelerated
Purchase Notice exceeds the Accelerated Purchase Share Amount that the Company is then permitted to include in such Accelerated
Purchase Notice (which shall be confirmed in an Accelerated Purchase Confirmation), and the Investor shall have no obligation
to purchase such excess Purchase Shares in respect of such Accelerated Purchase Notice; provided, however, that
the Investor shall remain obligated to purchase the Accelerated Purchase Share Amount which the Company is permitted to include
in such Accelerated Purchase Notice; and provided, further, however, that the parties may mutually agree
to increase the Accelerated Purchase Share Amount applicable to any Accelerated Purchase, and all of the Purchase Shares subject
to such increased Accelerated Purchase shall be purchased by the Investor at the Accelerated Purchase Price for such increased
Accelerated Purchase in accordance with this Agreement. Within one (1) Business Day after completion of each Accelerated Purchase
Date for an Accelerated Purchase, the Investor will provide to the Company a written confirmation of such Accelerated Purchase
setting forth the applicable Accelerated Purchase Share Amount and Accelerated Purchase Price for such Accelerated Purchase (each,
an “Accelerated Purchase Confirmation”). Notwithstanding the foregoing, the Company shall not deliver any Accelerated
Purchase Notices during the PEA Period.

 

    	 	-9-	 

    

    

 

(d)
 Additional Accelerated Purchases.  Subject to the terms and conditions of
this Agreement, beginning one (1) Business Day following the Commencement Date and thereafter, in addition to purchases of Purchase
Shares as described in Section 2(b) and Section 2(c) above, the Company shall also have the right, but not the obligation,
to direct the Investor, by its timely delivery to the Investor of an Additional Accelerated Purchase Notice on an Additional Accelerated
Purchase Date in accordance with this Agreement, to purchase the applicable Additional Accelerated Purchase Share Amount at the
applicable Additional Accelerated Purchase Price therefor in accordance with this Agreement (each such purchase, an “Additional
Accelerated Purchase”). The Company may deliver multiple Additional Accelerated Purchase Notices to the Investor on
an Additional Accelerated Purchase Date; provided, however, that the Company may deliver an Additional Accelerated
Purchase Notice to the Investor only (i) on a Business Day that is also the Accelerated Purchase Date for an Accelerated Purchase
with respect to which the Company properly submitted to the Investor an Accelerated Purchase Notice in accordance with this Agreement
on the applicable Purchase Date for a Regular Purchase of a number of Purchase Shares not less than the Regular Purchase Share
Limit then in effect in accordance with this Agreement (including, without limitation, giving effect to any automatic increase
to the Regular Purchase Share Limit as a result of the Closing Sale Price of the Common Stock exceeding certain thresholds set
forth in Section 2(b) above on such Purchase Date and any other adjustments to the Regular Purchase Share Limit, in each
case pursuant to Section 2(b) above), (ii) if the Closing Sale Price of the Common Stock on the Business Day immediately
preceding the Business Day on which such Additional Accelerated Purchase Notice is delivered is not less than the Additional Accelerated
Purchase Floor Price, and (iii) if all Purchase Shares subject to all prior Regular Purchases, Accelerated Purchases and Additional
Accelerated Purchases, including, without limitation, those that have been effected on the same Business Day as the applicable
Additional Accelerated Purchase Date with respect to which the applicable Additional Accelerated Purchase relates, have theretofore
been received by the Investor as DWAC Shares in accordance with this Agreement. If the Company delivers any Additional Accelerated
Purchase Notice directing the Investor to purchase an amount of Purchase Shares that exceeds the Additional Accelerated Purchase
Share Amount that the Company is then permitted to include in such Additional Accelerated Purchase Notice in accordance with the
terms of this Agreement, such Additional Accelerated Purchase Notice shall be void ab initio to the extent of the amount
by which the number of Purchase Shares set forth in such Additional Accelerated Purchase Notice exceeds the Additional Accelerated
Purchase Share Amount that the Company is then permitted to include in such Additional Accelerated Purchase Notice in accordance
with the terms of this Agreement (which shall be confirmed in an Additional Accelerated Purchase Confirmation (defined below)),
and the Investor shall have no obligation to purchase such excess Purchase Shares in respect of such Additional Accelerated Purchase
Notice; provided, however, that the Investor shall remain obligated to purchase the Additional Accelerated Purchase
Share Amount which the Company is permitted to include in such Additional Accelerated Purchase Notice; and provided, further,
however, that the parties may mutually agree to increase the Additional Accelerated Purchase Share Amount applicable to
any Additional Accelerated Purchase, and all of the Purchase Shares subject to such increased Additional Accelerated Purchase
shall be purchased by the Investor at the Additional Accelerated Purchase Price for such increased Additional Accelerated Purchase
in accordance with this Agreement. Within one (1) Business Day after completion of each Additional Accelerated Purchase Date,
the Investor will provide to the Company a written confirmation of each Additional Accelerated Purchase on such Additional Accelerated
Purchase Date setting forth the applicable Additional Accelerated Purchase Share Amount and Additional Accelerated Purchase Price
for each such Additional Accelerated Purchase on such Additional Accelerated Purchase Date (each, an “Additional Accelerated
Purchase Confirmation”).

 

    	 	-10-	 

    

    

 

(e)  Payment
for Purchase Shares.  The Investor shall pay to the Company the price for the Initial Purchase Shares pursuant
to Section 2(a) via wire transfer of immediately available funds on the same Business Day that the Investor receives the
Initial Purchase Shares as DWAC Shares, if such Initial Purchase Shares are so received by the Investor before 1:00 p.m., Eastern
time, or, if such Initial Purchase Shares are so received by the Investor after 1:00 p.m., Eastern time, the next Business Day.
For each Regular Purchase, the Investor shall pay to the Company an amount equal to the Purchase Amount with respect to such Regular
Purchase as full payment for such Purchase Shares via wire transfer of immediately available funds on the same Business Day that
the Investor receives such Purchase Shares, if such Purchase Shares are received by the Investor before 1:00 p.m., Eastern time,
or, if such Purchase Shares are received by the Investor after 1:00 p.m., Eastern time, the next Business Day. For each Accelerated
Purchase and each Additional Accelerated Purchase, the Investor shall pay to the Company an amount equal to the Purchase Amount
with respect to such Accelerated Purchase and Additional Accelerated Purchase, respectively, as full payment for such Purchase
Shares via wire transfer of immediately available funds on the second Business Day following the date that the Investor receives
such Purchase Shares. If the Company or the Transfer Agent shall fail for any reason or for no reason to electronically transfer
any Purchase Shares as DWAC Shares submitted by the Investor or its agent in respect of the Initial Purchase, or with respect
to any Regular Purchase, Accelerated Purchase or Additional Accelerated Purchase (as applicable) within two (2) Business Days
following the receipt by the Company of the price for the Initial Purchase Shares pursuant to Section 2(a), Purchase Price,
Accelerated Purchase Price or Additional Accelerated Purchase Price, respectively, therefor in compliance with this Section
2(e), and if on or after such Business Day the Investor purchases (in an open market transaction or otherwise) shares of Common
Stock to deliver in satisfaction of a sale by the Investor of such Purchase Shares that the Investor anticipated receiving from
the Company in respect of such Initial Purchase, Regular Purchase, Accelerated Purchase or Additional Accelerated Purchase (as
applicable), then the Company shall, within two (2) Business Days after the Investor’s request, either (i) pay cash to the
Investor in an amount equal to the Investor’s total purchase price (including customary brokerage commissions, if any) for
the shares of Common Stock so purchased (the “Cover Price”), at which point the Company’s obligation
to deliver such Purchase Shares as DWAC Shares shall terminate, or (ii) promptly honor its obligation to deliver to the Investor
such Purchase Shares as DWAC Shares and pay cash to the Investor in an amount equal to the excess (if any) of the Cover Price
over the total Purchase Amount paid by the Investor pursuant to this Agreement for all of the Purchase Shares to be purchased
by the Investor in connection with such purchases.  The Company shall not issue any fraction of a share of Common Stock upon
the Initial Purchase or any Regular Purchase, Accelerated Purchase or Additional Accelerated Purchase.  If the issuance would
result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock
up or down to the nearest whole share. All payments made under this Agreement shall be made in lawful money of the United States
of America or wire transfer of immediately available funds to such account as the Company may from time to time designate by written
notice in accordance with the provisions of this Agreement. Whenever any amount expressed to be due by the terms of this Agreement
is due on any day that is not a Business Day, the same shall instead be due on the next succeeding day that is a Business Day.

 

(f) Compliance
with Rules of Principal Market.

 

(i) Exchange
Cap. Subject to Section 2(g)(ii) below, the Company shall not issue or sell any shares of Common Stock pursuant to
this Agreement, and the Investor shall not purchase or acquire any shares of Common Stock pursuant to this Agreement, to the extent
that after giving effect thereto, the aggregate number of shares of Common Stock that would be issued pursuant to this Agreement
and the transactions contemplated hereby would exceed 22,082,743 shares of Common Stock, representing 19.99% of the shares of
Common Stock outstanding on the date of this Agreement (which number of shares shall be reduced, on a share-for-share basis, by
the number of shares of Common Stock issued or issuable pursuant to any transaction or series of transactions that may be aggregated
with the transactions contemplated by this Agreement under applicable rules of the NYSE American or any other Principal Market
on which the Common Stock may be listed or quoted) (the “Exchange Cap”), unless and until the Company elects
to solicit stockholder approval of the issuance of Common Stock as contemplated by this Agreement and the stockholders of the
Company have in fact approved such issuance in accordance with the applicable rules and regulations of the NYSE American, any
other Principal Market on which the Common Stock may be listed or quoted, and the Company’s Certificate of Incorporation,
as amended (the “Certificate of Incorporation”), and the Company’s Amended and Restated Bylaws, as amended
(the “Bylaws”). For the avoidance of doubt, the Company may, but shall be under no obligation to, request its
stockholders to approve the issuance of Common Stock as contemplated by this Agreement; provided, that if stockholder approval
is not obtained in accordance with this Section 2(f)(i), the Exchange Cap shall be applicable for all purposes of this
Agreement and the transactions contemplated hereby at all times during the term of this Agreement (except as set forth in Section
2(f)(ii) below).

 

    	 	-11-	 

    

    

 

(ii) At-Market
Transaction. Notwithstanding Section 2(f)(i) above and subject to the prior approval of the NYSE American or any other
Principal Market on which the Common Stock may be listed or quoted (to the extent required), the Exchange Cap shall not be applicable
for any purposes of this Agreement and the transactions contemplated hereby, solely to the extent that the issuances and sales
of Common Stock pursuant to this Agreement are deemed to be at a price equal to or in excess of the greater of book or market
value of the Common Stock as calculated in accordance with the applicable rules of the NYSE American or any other Principal Market
on which the Common Stock may be listed or quoted (it being hereby acknowledged and agreed that the Exchange Cap shall be applicable
for all purposes of this Agreement and the transactions contemplated hereby at all other times during the term of this Agreement,
unless the stockholder approval referred to in Section 2(f)(i) is obtained).

 

(iii) General.
The Company shall not issue any Securities pursuant to this Agreement if such issuance would reasonably be expected to result
in (A) a violation of the Securities Act or (B) a breach of the rules and regulations of the Principal Market. The provisions
of this Section 2(f) shall be implemented in a manner otherwise than in strict conformity with the terms hereof only if
necessary to ensure compliance with the Securities Act and the rules and regulations of the Principal Market.

 

(g) Beneficial
Ownership Limitation. Notwithstanding anything to the contrary contained in this Agreement, the Company shall not issue
or sell, and the Investor shall not purchase or acquire, any Common Stock under this Agreement which, when aggregated
with all other shares of Common Stock then beneficially owned by the Investor and its affiliates (as calculated pursuant to Section
13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) would result in the beneficial ownership by the Investor
and its affiliates of more than 9.99% of the then issued and outstanding Common Stock (the “Beneficial Ownership
Limitation”). Upon the written or oral request of the Investor, the Company shall promptly (but not later than 24 hours)
confirm orally or in writing to the Investor the amount of Common Stock then outstanding. The Investor and the Company shall each
cooperate in good faith in the determinations required hereby and the application hereof. The Investor’s written certification
to the Company of the applicability of the Beneficial Ownership Limitation, and the resulting effect thereof hereunder at any
time, shall be conclusive with respect to the applicability thereof and such result absent manifest error.

 

3. INVESTOR'S
REPRESENTATIONS AND WARRANTIES.

 

The
Investor represents and warrants to the Company that as of the Execution Date and as of the Commencement Date:

 

(a) Organization,
Authority. Investor is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
of its organization, with the requisite power and authority to enter into and to consummate the transactions contemplated by this
Agreement and otherwise to carry out its obligations hereunder and thereunder.

 

(b) Accredited
Investor Status. The Investor is an “accredited investor” as that term is defined in Rule 501(a)(3) of Regulation
D promulgated under the Securities Act.

 

(c) Information.
The Investor understands that its investment in the Securities involves a high degree of risk. The Investor (i) is able to bear
the economic risk of an investment in the Securities including a total loss thereof, (ii) has such knowledge and experience in
financial and business matters that it is capable of evaluating the merits and risks of the proposed investment in the Securities
and (iii) has had an opportunity to ask questions of and receive answers from the officers of the Company concerning the financial
condition and business of the Company and others matters related to an investment in the Securities. Neither such inquiries nor
any other due diligence investigations conducted by the Investor or its representatives shall modify, amend or affect the Investor's
right to rely on the Company's representations and warranties contained in Section 4 below. The Investor has sought such accounting,
legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of
the Securities.

 

    	 	-12-	 

    

    

 

(d) No
Governmental Review. The Investor understands that no federal, state or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of an investment in the Securities
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(e) Validity;
Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of the Investor and is
a valid and binding agreement of the Investor enforceable against the Investor in accordance with its terms, subject as to enforceability
to general principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar
laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies.

 

(f) Residency.
The Investor’s principal place of business is in the State of Illinois.

 

(g) No
Short Selling. The Investor represents and warrants to the Company that at no time prior to the date of this Agreement has
any of the Investor, its agents, representatives or affiliates engaged in or effected, in any manner whatsoever, directly or indirectly,
any (i) “short sale” (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock
or (ii) hedging transaction, which establishes a net short position with respect to the Common Stock.

 

4. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY.

 

The
Company represents and warrants to the Investor that as of the Execution Date and as of the Commencement Date:

 

(a) Organization
and Qualification. The Company and each of its Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite corporate
power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither
the Company nor any of its Subsidiaries is in violation or default of any of the provisions of its respective certificate or articles
of incorporation, bylaws or other organizational or charter documents. Each of the Company and its Subsidiaries is
duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which
the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be
so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in a Material Adverse
Effect and no proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit
or curtail such power and authority or qualification.  The Company has no Subsidiaries except as set forth on Exhibit 21.1
to the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on March 16, 2018.

 

    	 	-13-	 

    

    

 

(b) Authorization;
Enforcement; Validity. (i) The Company has the requisite corporate power and authority to enter into and perform its obligations
under this Agreement and each of the other Transaction Documents to which it is a party, and to issue the Securities in accordance
with the terms hereof and thereof, (ii) the execution and delivery of the Transaction Documents by the Company to which it is
a party and the consummation by it of the transactions contemplated hereby and thereby, including without limitation, the issuance
of the Commitment Shares and the reservation for issuance and the issuance of the Purchase Shares issuable under this Agreement,
have been duly authorized by the Company's Board of Directors and no further consent or authorization is required by the Company,
its Board of Directors or its shareholders, (iii) this Agreement has been, and each other Transaction Document shall be on the
Commencement Date, duly executed and delivered by the Company and (iv) this Agreement constitutes, and each other Transaction
Document upon its execution on behalf of the Company, shall constitute, the valid and binding obligations of the Company enforceable
against the Company in accordance with their terms, except as such enforceability may be limited by general principles of equity
or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally,
the enforcement of creditors’ rights and remedies. The Board of Directors of the Company has passed all applicable resolutions
(the “Resolutions”) to authorize this Agreement and the transactions contemplated hereby. The Resolutions are
valid, in full force and effect and have not been modified or supplemented in any respect. The Company has delivered to the Investor
a certified copy of the Resolutions passed by the Board of Directors of the Company. Except as set forth in this Agreement, no
other approvals or consents of the Company’s Board of Directors, any authorized committee thereof, and/or shareholders is
necessary under applicable laws, and the Certificate of Incorporation and Bylaws of the Company, to authorize the execution and
delivery of this Agreement or any of the transactions contemplated hereby, including, but not limited to, the issuance of the
Commitment Shares and the issuance of the Purchase Shares.

 

(c) Capitalization.
As of the date hereof, the authorized capital stock of the Company is set forth in the Company’s Quarterly Report on Form
10-Q filed on August 9, 2018 for the quarter ended June 30, 2018.  Except as disclosed in the SEC Documents (as defined below)
or on Schedule 4(c), (i) no shares of the Company's capital stock are subject to preemptive rights or any other similar
rights or any liens or encumbrances suffered or permitted by the Company, (ii) there are no outstanding debt securities, (iii)
there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries, or contracts,
commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional
shares of capital stock of the Company or any of its Subsidiaries or options, warrants, scrip, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of
the Company or any of its Subsidiaries, (iv) there are no agreements or arrangements under which the Company or any of its Subsidiaries
is obligated to register the sale of any of their securities under the Securities Act, (v) there are no outstanding securities
or instruments of the Company or any of its Subsidiaries which contain any redemption or similar provisions, and there are no
contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound
to redeem a security of the Company or any of its Subsidiaries, (vi) there are no securities or instruments containing anti-dilution
or similar provisions that will be triggered by the issuance of the Securities as described in this Agreement and (vii) the Company
does not have any stock appreciation rights or "phantom stock" plans or agreements or any similar plan or agreement.
 The Company has furnished to the Investor true and correct copies of (A) the Company's certificate of incorporation, as
amended and as in effect on the date hereof (the "Certificate of Incorporation"), (B) the Company's Bylaws, as
amended and as in effect on the date hereof (the "Bylaws"), and (C) summaries of the material terms of all securities
convertible into or exercisable for Common Stock, if any, and copies of any documents containing the material rights of the holders
thereof in respect thereto, which in the case of this clause (C), are not disclosed in any SEC Document or filed as an exhibit
thereto.

 

(d) Issuance
of Securities. Upon issuance and payment therefor in accordance with the terms and conditions of this Agreement, the Purchase
Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens, charges, restrictions, rights of
first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled to all rights accorded
to a holder of Common Stock.  Upon issuance in accordance with the terms and conditions of this Agreement, the Commitment
Shares shall be validly issued, fully paid and nonassessable and free from all taxes, liens, charges, restrictions, rights of
first refusal and preemptive rights with respect to the issue thereof, with the holders being entitled to all rights accorded
to a holder of Common Stock. 22,082,773 shares of Common Stock (the “Reserve Amount”) have been duly authorized
and reserved for issuance upon purchase under this Agreement as Purchase Shares, excluding the Initial Purchase Shares.

 

    	 	-14-	 

    

    

 

(e) No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby (including, without limitation, the reservation for issuance and issuance
of the Purchase Shares and the Commitment Shares) will not (i) result in a violation of the Certificate of Incorporation, any
Certificate of Designations, Preferences and Rights of any outstanding series of preferred stock of the Company or the Bylaws
or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument
to which the Company or any of its Subsidiaries is a party, or result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws and regulations and the rules and regulations of the Principal Market applicable
to the Company or any of its Subsidiaries) or by which any property or asset of the Company or any of its Subsidiaries is bound
or affected, except in the case of conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
under clause (ii), which could not reasonably be expected to result in a Material Adverse Effect.  Neither the Company nor
its Subsidiaries is in violation of any term of or in default under its Certificate of Incorporation, any Certificate of Designation,
Preferences and Rights of any outstanding series of preferred stock of the Company or Bylaws or their organizational charter or
bylaws, respectively.  Neither the Company nor any of its Subsidiaries is in violation of any term of or is in default under
any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule
or regulation applicable to the Company or its Subsidiaries, except for possible conflicts, defaults, terminations or amendments
that could not reasonably be expected to have a Material Adverse Effect.  The business of the Company and its Subsidiaries
is not being conducted, and shall not be conducted, in violation of any law, ordinance or regulation of any governmental entity,
except for possible violations, the sanctions for which either individually or in the aggregate could not reasonably be expected
to have a Material Adverse Effect.  Except as specifically contemplated by this Agreement and as required under the Securities
Act or applicable state securities laws and the rules and regulations of the Principal Market, the Company is not required to
obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or any
regulatory or self-regulatory agency in order for it to execute, deliver or perform any of its obligations under or contemplated
by the Transaction Documents in accordance with the terms hereof or thereof.  Except as set forth elsewhere in this Agreement,
all consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant to the preceding
sentence shall be obtained or effected on or prior to the Commencement Date.  Except as disclosed in the SEC Documents (as
defined below), since one year prior to the date hereof, the Company has not received nor delivered any notices or correspondence
from or to the Principal Market, other than notices with respect to listing of additional shares of Common Stock and other routine
correspondence. Except as disclosed in the SEC Documents, the Principal Market has not commenced any delisting proceedings against
the Company.

 

    	 	-15-	 

    

    

 

(f) SEC
Documents; Financial Statements. The Company is, and has been during the 12-month period immediately preceding the date of
this Agreement, required to file reports, schedules, forms, statements and other documents with the SEC pursuant to Section 13
or 15(d) of the Exchange Act. The Company has filed all reports, schedules, forms, statements and other documents required to
be filed by the Company with the SEC under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, and under the
Securities Act, in each case during the 12-month period immediately preceding the date of this Agreement (the foregoing materials,
including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC
Documents”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Documents
prior to the expiration of any such extension. As of their respective dates, the SEC Documents complied in all material
respects with the requirements of the Securities Act and the Exchange Act, as applicable. None of the SEC Documents, when filed,
contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial
statements of the Company included in the SEC Documents comply in all material respects with applicable accounting requirements
and the rules and regulations of the SEC with respect thereto as in effect at the time of filing. Such financial statements
have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during
the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes
thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all
material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and
the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal,
immaterial, year-end audit adjustments.  Except as set forth in the SEC Documents, the Company has received no notices or
correspondence from the SEC for the one year preceding the date hereof.  The SEC has not commenced any enforcement
proceedings against the Company or any of its Subsidiaries.

 

(g) Absence
of Certain Changes. Except as disclosed in the SEC Documents, since December 31, 2017, there has been no material adverse
change in the business, properties, operations, financial condition or results of operations of the Company or its Subsidiaries.
The Company is not in violation or default of (i) any provision of the Certificate of Incorporation or Bylaws, (ii) the terms
of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other agreement, obligation, condition,
covenant or instrument to which it is a party or bound or to which its property is subject, or (iii) any statute, law, rule, regulation,
judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority
having jurisdiction over the Company or any of its properties, which, in the case of clauses (ii) or (iii), could be reasonably
expected to have a Material Adverse Effect. Except as described in the SEC Documents, no dispute between the Company and any third
party exists or, to the knowledge of the Company, is threatened or imminent that could reasonably be expected to have a Material
Adverse Effect. The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant
to any Bankruptcy Law nor does the Company or any of its Subsidiaries have any knowledge or reason to believe that its creditors
intend to initiate involuntary bankruptcy or insolvency proceedings. The Company is financially solvent and is generally able
to pay its debts as they become due.

 

(h) Absence
of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of the Company or any of its Subsidiaries, threatened
against or affecting the Company, the Common Stock or any of the Company’s or its Subsidiaries’ officers or directors
in their capacities as such, which could reasonably be expected to have a Material Adverse Effect.

 

(i) Acknowledgment
Regarding Investor’s Status. The Company acknowledges and agrees that the Investor is acting solely in the capacity
of arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby.
The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any
similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby and any advice
given by the Investor or any of its representatives or agents in connection with the Transaction Documents and the transactions
contemplated hereby and thereby is merely incidental to the Investor’s purchase of the Securities. The Company further represents
to the Investor that the Company’s decision to enter into the Transaction Documents has been based solely on the independent
evaluation by the Company and its representatives and advisors.

 

    	 	-16-	 

    

    

 

(j) No
Aggregated Offering. Neither the Company, nor any of its affiliates, nor any Person acting on its or their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that
would cause this offering of the Securities to be integrated or aggregated with prior offerings by the Company in a manner that
would require stockholder approval pursuant to the rules of the Principal Market on which any of the securities of the Company
are listed or designated. The issuance and sale of the Securities hereunder does not contravene the rules and regulations of the
Principal Market.

 

(k) Intellectual
Property Rights. The Company and its Subsidiaries own or possess adequate rights or licenses to use all material trademarks,
trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses,
approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses as now conducted.
None of the Company’s material trademarks, trade names, service marks, service mark registrations, service names, patents,
patent rights, copyrights, inventions, licenses, approvals, government authorizations, trade secrets or other intellectual property
rights have expired or terminated, or, by the terms and conditions thereof, could expire or terminate within two years from the
date of this Agreement. The Company and its Subsidiaries do not have any knowledge of any infringement by the Company or its Subsidiaries
of any material trademark, trade name rights, patents, patent rights, copyrights, inventions, licenses, service names, service
marks, service mark registrations, trade secret or other similar rights of others, or of any such development of similar or identical
trade secrets or technical information by others, and there is no claim, action or proceeding being made or brought against, or
to the Company’s knowledge, being threatened against, the Company or its Subsidiaries regarding trademark, trade name, patents,
patent rights, invention, copyright, license, service names, service marks, service mark registrations, trade secret or other
infringement, which could reasonably be expected to have a Material Adverse Effect.

 

(l) Environmental
Laws. The Company and its Subsidiaries (i) are in compliance with any and all applicable foreign, federal, state and local
laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances or
wastes, pollutants or contaminants (“Environmental Laws”), (ii) have received all permits, licenses or other
approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) are in compliance
with all terms and conditions of any such permit, license or approval, except where, in each of the three foregoing clauses, the
failure to so comply could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(m) Title.
 Except as set forth in the SEC Documents, the Company and its Subsidiaries have good and marketable title in fee simple
to all real property owned by them and good and marketable title in all personal property owned by them that is material to the
business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects (“Liens”)
and, except for Liens as do not materially affect the value of such property and do not materially interfere with the use made
and proposed to be made of such property by the Company and its Subsidiaries and Liens for the payment of federal, state or other
taxes, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under
lease by the Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company
and its Subsidiaries are in compliance with such exceptions as are not material and do not interfere with the use made and proposed
to be made of such property and buildings by the Company and its Subsidiaries.

 

    	 	-17-	 

    

    

 

(n) Insurance.
The Company and each of its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company
and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has been refused any insurance coverage sought or
applied for and neither the Company nor any such Subsidiary has any reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the earnings,
business or operations of the Company and its Subsidiaries, taken as a whole.

 

(o) Regulatory
Permits. The Company and its Subsidiaries possess all material certificates, authorizations and permits issued by the appropriate
federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses, and neither the Company
nor any such Subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate,
authorization or permit.

 

(p) Tax
Status. Except as set forth on Schedule 4(p) the Company and each of its Subsidiaries has made or filed all federal
and state income and all other material tax returns, reports and declarations required by any jurisdiction to which it is subject
(unless and only to the extent that the Company and each of its Subsidiaries has set aside on its books provisions reasonably
adequate for the payment of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and charges
that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested
in good faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply.  There are no unpaid taxes in any material amount claimed
to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

(q) Transactions
With Affiliates.  Except as set forth in the SEC Documents, none of the officers or directors of the Company and, to
the knowledge of the Company, none of the employees of the Company is presently a party to any transaction with the Company or
any Subsidiary (other than for services as employees, officers and directors) that is required to be disclosed and is not disclosed,
including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental
of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or,
to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or
is an officer, director, trustee or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting
fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits,
including stock option agreements under any stock option plan of the Company.

 

(r) Application
of Takeover Protections. The Company and its board of directors have taken or will take prior to the Commencement Date all
necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Certificate of Incorporation, the
laws of the state of its incorporation or otherwise which is or could become applicable to the Investor as a result of the transactions
contemplated by this Agreement, including, without limitation, the Company’s issuance of the Securities and the Investor’s
ownership of the Securities.

 

    	 	-18-	 

    

    

 

(s) Disclosure. Except
with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents that will be timely
publicly disclosed by the Company, the Company confirms that neither it nor any other Person acting on its behalf has provided
the Investor or its agents or counsel with any information that it believes constitutes or might constitute material, non-public
information which is not otherwise disclosed in the Registration Statement or the SEC Documents. The Company
understands and confirms that the Investor will rely on the foregoing representation in effecting purchases and sales of securities
of the Company. All of the disclosure furnished by or on behalf of the Company to the Investor regarding the Company,
its business and the transactions contemplated hereby, including the disclosure schedules to this Agreement, is true and correct
and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements made therein, in light of the circumstances under which they were made, not misleading. The press releases disseminated
by the Company during the twelve (12) months preceding the date of this Agreement taken as a whole do not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made and when made, not misleading. The Company acknowledges
and agrees that the Investor neither makes nor has made any representations or warranties with respect to the transactions contemplated
hereby other than those specifically set forth in Section 3 hereof.

 

(t) Foreign
Corrupt Practices; Money Laundering Laws; Sanctions. Neither the Company nor any of the Subsidiaries nor, to the knowledge
of the Company, any director, officer, agent, employee or affiliate of the Company or any of the Subsidiaries is aware of or has
taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act
of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without limitation,
making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment,
promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the
giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign political
party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Company, the Subsidiaries
and, to the knowledge of the Company, its affiliates have conducted their businesses in compliance with the FCPA and have instituted
and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance
therewith. The operations of the Company and the Subsidiaries are and have been conducted at all times in compliance with applicable
financial recordkeeping and reporting requirements and the money laundering statutes and the rules and regulations thereunder
and any related or similar rules, regulations or guidelines, issued, administered or enforced by any applicable governmental agency,
including, without limitation, Title 18 U.S. Code section 1956 and 1957, the Patriot Act, the Bank Secrecy Act, and international
anti-money laundering principles or procedures by an intergovernmental group or organization, such as the Financial Action Task
Force on Money Laundering, of which the United States is a member and with which designation the United States representative
to the group or organization continues to concur, all as amended, and any Executive order, directive or regulation pursuant to
the authority of any of the foregoing, or any orders or licenses issued thereunder (collectively, the “Money Laundering
Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator
involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the best knowledge
of the Company, threatened. Neither the Company nor any of its Subsidiaries, nor to the knowledge of the Company any of the directors,
officers or employees, agents, affiliates or representatives of the Company or its Subsidiaries, is an individual or entity that
is, or is owned or controlled by an individual or entity that is: (i) the subject of any sanctions administered or enforced by
the U.S. Department of Treasury's Office of Foreign Assets Control, the United Nations Security Council, the European Union, Her
Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), nor (ii) located,
organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Burma/Myanmar,
Cuba, Iran, Libya, North Korea, Venezuela, Sudan and Syria). Neither the Company nor any of its Subsidiaries will, directly or
indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary,
joint venture partner or other individual or entity: (i) to fund or facilitate any activities or business of or with any individual
or entity or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions or (ii)
in any other manner that will result in a violation of Sanctions by any individual or entity (including any individual or entity
participating in the offering, whether as underwriter, advisor, investor or otherwise). For the past five years, neither the Company
nor any of its Subsidiaries has knowingly engaged in, and is not now knowingly engaged in, any dealings or transactions with any
individual or entity, or in any country or territory, that at the time of the dealing or transaction is or was the subject of
Sanctions.

 

    	 	-19-	 

    

    

 

(u) Registration
Statement. The Company has prepared and filed the Registration Statement with the SEC in accordance with the Securities Act.
The Registration Statement was declared effective by order of the SEC on October 12, 2017. The Registration Statement is effective
pursuant to the Securities Act and available for the issuance of the Securities thereunder, and the Company has not received any
written notice that the SEC has issued or intends to issue a stop order or other similar order with respect to the Registration
Statement or the Prospectus or that the SEC otherwise has (i) suspended or withdrawn the effectiveness of the Registration
Statement or (ii) issued any order preventing or suspending the use of the Prospectus or any Prospectus Supplement, in either
case, either temporarily or permanently or intends or has threatened in writing to do so. The “Plan of Distribution”
section of the Prospectus permits the issuance of the Securities under the terms of this Agreement. At the time the Registration
Statement and any amendments thereto became effective, at the date of this Agreement and at each deemed effective date thereof
pursuant to Rule 430B(f)(2) of the Securities Act, the Registration Statement and any amendments thereto complied and will
comply in all material respects with the requirements of the Securities Act and did not and 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 the Base Prospectus and any Prospectus Supplement thereto, at the time such Base Prospectus or such Prospectus
Supplement thereto was issued and on the Commencement Date, complied and will comply in all material respects with the requirements
of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; provided
that this representation and warranty does not apply to statements in or omissions from any Prospectus Supplement made in reliance
upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf of the Investor
expressly for use therein. The Company meets all of the requirements for the use of a registration statement on Form S-3
pursuant to the Securities Act for the offering and sale of the Securities contemplated by this Agreement in reliance on General
Instruction I.B.1. of Form S-3, and the SEC has not notified the Company of any objection to the use of the form of the Registration
Statement pursuant to Rule 401(g)(1) of the Securities Act. The Company hereby confirms that the issuance of the Securities
to the Investor pursuant to this Agreement would not result in non-compliance with the Securities Act or any of the General Instructions
to Form S-3. The Registration Statement, as of its effective date, meets the requirements set forth in Rule 415(a)(1)(x) pursuant
to the Securities Act. At the earliest time after the filing of the Registration Statement that the Company or another offering
participant made a bona fide offer (within the meaning of Rule 164(h)(2) of the Securities Act) relating to any of the Securities,
the Company was, and as of the date of this Agreement the Company is, an Ineligible Issuer (as defined in Rule 405 of the Securities
Act).  The Company has not distributed any offering material in connection with the offering and sale of any of the Securities,
and, until the Investor does not hold any of the Securities, shall not distribute any offering material in connection with the
offering and sale of any of the Securities, to or by the Investor, in each case, other than the Registration Statement or any
amendment thereto, the Prospectus or any Prospectus Supplement required pursuant to applicable law or the Transaction Documents.
The Company has not made and shall not make an offer relating to the Securities that would constitute a “free writing prospectus”
as defined in Rule 405 under the Securities Act.

 

    	 	-20-	 

    

    

 

(v) DTC
Eligibility. The Company, through the Transfer Agent, currently participates in the DTC Fast Automated Securities Transfer
(FAST) Program and the Common Stock can be transferred electronically to third parties via the DTC Fast Automated Securities Transfer
(FAST) Program.

 

(w) 
Accounting Controls; Sarbanes-Oxley. The Company maintains a system of internal accounting controls sufficient to provide
reasonable assurances that (A) transactions are executed in accordance with management’s general or specific authorization;
(B) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain
accountability for assets; (C) access to assets is permitted only in accordance with management’s general or specific authorization;
and (D) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action
is taken with respect to any differences. Except as disclosed in the SEC Documents, the Company has concluded that its internal
control over financial reporting is effective and none of the Company, its board of directors and audit committee is aware of
any “significant deficiencies” or “material weaknesses” (each as defined by the rules adopted by the SEC)
in its internal control over financial reporting, or any fraud, whether or not material, that involves management or other employees
of the Company and its Subsidiaries who have a significant role in the Company’s internal controls; and since the end of
the latest audited fiscal year, there has been no change in the Company’s internal control over financial reporting (whether
or not remediated) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control
over financial reporting. The Company’s board of directors has, subject to the exceptions, cure periods and the phase in
periods specified in the applicable stock exchange rules of the Principal Market (“Exchange Rules”), validly
appointed an audit committee to oversee internal accounting controls whose composition satisfies the applicable independence and
other requirements of the Exchange Rules and the rules under the Exchange Act, and the Company’s board of directors and/or
the audit committee has adopted a charter that satisfies the requirements of the Exchange Rules and the rules under the Exchange
Act. Neither the Company’s board of directors nor the audit committee has been informed, nor is any director of the Company
or the Company aware, of (A) any significant deficiencies in the design or operation of the Company’s internal controls
which could adversely affect the Company’s ability to record, process, summarize and report financial data or any material
weakness in the Company’s internal controls; or (B) any fraud, whether or not material, that involves management or other
employees of the Company who have a significant role in the Company’s internal controls. No relationship, direct or indirect,
exists between or among the Company, on the one hand, and the directors, officers, shareholders, customers or suppliers of the
Company, on the other hand, which is required to be described in the Registration Statement and the Prospectuses which is not
so described. The Company has not, directly or indirectly, extended or maintained credit, or arranged for the extension of credit,
or renewed an extension of credit, in the form of a personal loan to or for any of its directors or executive officers in violation
of applicable laws, including Section 402 of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection
therewith (the “Sarbanes-Oxley Act”).

 

(x) Certain
Fees. Except as disclosed on Schedule 4(x), no brokerage or finder’s fees or commissions are or will be payable
by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person
with respect to the transactions contemplated by the Transaction Documents. Except as disclosed on Schedule 4(x), the Investor
shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees
of a type contemplated in this Section 4(x) that may be due in connection with the transactions contemplated by the Transaction
Documents.

 

(y) Investment
Company. The Company is not, and immediately after receipt of payment for the Securities will not be, an “investment
company” within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”).

 

    	 	-21-	 

    

    

 

(z) Listing
and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) of the Exchange Act, and the Company
has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the
Common Stock pursuant to the Exchange Act nor has the Company received any notification that the SEC is currently contemplating
terminating such registration. Except as disclosed in the SEC Documents, the Company has not, in the twelve (12) months preceding
the date hereof, received any notice from any Person to the effect that the Company is not in compliance with the listing or maintenance
requirements of the Principal Market. Except as disclosed in the SEC Documents, the Company is, and has no reason to believe that
it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements.

 

(aa)Accountants.
The Company’s accountants are set forth in the SEC Documents and, to the knowledge of the Company, such accountants are
an independent registered public accounting firm as required by the Securities Act.

 

(bb)No
Market Manipulation. The Company has not, and to its knowledge no Person acting on its behalf has, (i) taken, directly
or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of
the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation
for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting
another to purchase any other securities of the Company.

 

(cc)Benefit
Plans; Labor Matters. Each benefit and compensation plan, agreement, policy and arrangement that is maintained, administered
or contributed to by the Company for current or former employees or directors of, or independent contractors with respect to,
the Company has been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and
regulations and the Company has complied in all material respects with all applicable statutes, orders, rules and regulations
in regard to such plans, agreements, policies and arrangements. Each stock option granted under any stock option plan of the Company
(each, a “Stock Plan”) was granted with a per share exercise price no less than the market price per common
share on the grant date of such option in accordance with the rules of the Principal Market, and no such grant involved any “back-dating,”
“forward-dating” or similar practice with respect to the effective date of such grant; each such option (i) was granted
in compliance in all material respects with applicable laws and with the applicable Stock Plan(s), (ii) was duly approved by the
Board of Directors (or a duly authorized committee thereof) of the Company, and (iii) has been properly accounted for in the Company's
financial statements and disclosed, to the extent required, in the Company's filings or submissions with the SEC, and the Principal
Market. No labor problem or dispute with the employees of the Company exists or is threatened or imminent, and the Company is
not aware of any existing or imminent labor disturbance by the employees of any of its principal suppliers or contractors, that
could have a Material Adverse Effect.

 

    	 	-22-	 

    

    

 

(dd)Regulatory.
Except as described in the Registration Statement and the Prospectuses, the Company and each of its Subsidiaries: (A) is and at
all times has been in material compliance with all applicable U.S. and foreign statutes, rules, regulations, or guidance applicable
to Company and its Subsidiaries and the ownership, testing, development, manufacture, packaging, processing, use, distribution,
marketing, labeling, promotion, sale, offer for sale, storage, import, export or disposal of any product manufactured or distributed
by the Company (“Applicable Laws”), except as could not, individually or in the aggregate, reasonably be expected
to result in a Material Adverse Effect; (B) have not received any notice of adverse finding, warning letter, untitled letter or
other correspondence or notice from the U.S. Food and Drug Administration or any other federal, state, or foreign governmental
authority having authority over the Company (“Governmental Authority”) alleging or asserting noncompliance
with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments
thereto required by any such Applicable Laws (“Authorizations”); (C) possess all material Authorizations and
such material Authorizations are valid and in full force and effect and are not in violation of any term of any such material
Authorizations; (D) have not received notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration
or other action from any Governmental Authority or third party alleging that any product operation or activity is in violation
of any Applicable Laws or Authorizations and have no knowledge that any such Governmental Authority or third party is considering
any such claim, litigation, arbitration, action, suit, investigation or proceeding; (E) have not received notice that any Governmental
Authority has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and the Company
has no knowledge that any such Governmental Authority is considering such action; and (F) have filed, obtained, maintained or
submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments
as required by any Applicable Laws or material Authorizations and that all such reports, documents, forms, notices, applications,
records, claims, submissions and supplements or amendments were complete and correct in all material respects on the date filed
(or were corrected or supplemented by a subsequent submission). To the Company's knowledge, the studies, tests and preclinical
and clinical trials conducted by or on behalf of the Company were and, if still pending, are, in all material respects, being
conducted in accordance with experimental protocols, procedures and controls pursuant to accepted professional scientific standards
and all applicable laws, including, without limitation, the United States Federal Food, Drug and Cosmetic Act and the laws, rules
and regulations of the Therapeutic Products Directorate, the European Medicines Agency, the European Commission's Enterprise Directorate
General and the regulatory agencies within each Member State granting Marketing Authorization through the Mutual Recognition Procedure
or any other federal, provincial, state, local or foreign governmental or quasi-governmental body exercising comparable authority;
the descriptions of the results of such studies, tests and trials contained in the Prospectuses are accurate and complete in all
material respects and fairly present the data derived from such studies, tests and trials; the descriptions in the Prospectuses
of the results of such clinical trials are consistent in all material respects with such results and to the Company’s knowledge
there are no other studies or other clinical trials whose results are materially inconsistent with or otherwise materially call
into question the results described or referred to in the Prospectuses; and the Company has not received any notices or correspondence
from any governmental authority requiring the termination, suspension or material modification of any studies, tests or preclinical
or clinical trials conducted by or on behalf of the Company or its Subsidiaries. The Company has concluded that it uses commercially
reasonable efforts to review, from time to time, the progress and results of the studies, tests and preclinical and clinical trials
and, based upon (i) the information provided to the Company by the third parties conducting such studies, tests, preclinical studies
and clinical trials that are described in the Prospectuses and the Company’s review of such information, and (ii) the Company’s
actual knowledge, the Company reasonably believes that the descriptions of the results of such studies, tests, preclinical studies
and clinical trials are accurate and complete in all material respects.

 

(ee)No
Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive officer,
other officer of the Company participating in the offering contemplated hereby, any beneficial owner of 20% or more of the Company's
outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule
405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities
Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the
Securities Act. The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification
Event.

 

    	 	-23-	 

    

    

 

(ff)Absence
of Schedules. In the event that at Closing, the Company does not deliver any disclosure schedule contemplated by this Agreement,
the Company hereby acknowledges and agrees that each such undelivered disclosure schedule shall be deemed to read as follows:
“Nothing to Disclose”.

 

5. COVENANTS.

 

(a) Filing
of Current Report and Registration Statement. The Company agrees that it shall, within the time required under the Exchange
Act, file with the SEC a report on Form 8-K relating to the transactions contemplated by, and describing the material terms and
conditions of, the Transaction Documents (the “Current Report”). The Company further agrees that it shall,
within the time required under Rule 424(b) under the Securities Act, file with the SEC the Initial Prospectus Supplement pursuant
to Rule 424(b) under the Securities Act specifically relating to the transactions contemplated by, and describing the material
terms and conditions of, the Transaction Documents, containing information previously omitted at the time of effectiveness of
the Registration Statement in reliance on Rule 430B under the Securities Act, and disclosing all information relating to the transactions
contemplated hereby required to be disclosed in the Registration Statement and the Prospectus as of the date of the Initial Prospectus
Supplement, including, without limitation, information required to be disclosed in the section captioned “Plan of Distribution”
in the Prospectus. The Investor acknowledges that it will be identified in the Initial Prospectus Supplement as an underwriter
within the meaning of Section 2(a)(11) of the Securities Act. The Company shall permit the Investor to review and comment upon
the Current Report and the Initial Prospectus Supplement at least two (2) Business Days prior to their filing with the SEC, the
Company shall give due consideration to all such comments, and the Company shall not file the Current Report or the Initial Prospectus
Supplement with the SEC in a form to which the Investor reasonably objects. The Investor shall use its reasonable best efforts
to comment upon the Current Report and the Initial Prospectus Supplement within one (1) Business Day from the date the Investor
receives the final pre-filing draft version thereof from the Company. The Investor shall furnish to the Company such information
regarding itself, the Securities held by it and the intended method of distribution thereof, including any arrangement between
the Investor and any other Person relating to the sale or distribution of the Securities, as shall be reasonably requested by
the Company in connection with the preparation and filing of the Current Report and the Initial Prospectus Supplement, and shall
otherwise cooperate with the Company as reasonably requested by the Company in connection with the preparation and filing of the
Current Report and the Initial Prospectus Supplement with the SEC.

 

(b) Blue
Sky. The Company shall take all such action, if any, as is reasonably necessary in order to obtain an exemption for or to
qualify (i) the issuance of the Commitment Shares and the sale of the Purchase Shares to the Investor under this Agreement and
(ii) any subsequent resale of all Commitment Shares and all Purchase Shares by the Investor, in each case, under applicable securities
or “Blue Sky” laws of the states of the United States in such states as is reasonably requested by the Investor during
the Registration Period, and shall provide evidence of any such action so taken to the Investor.

 

(c) Listing/DTC.
The Company shall promptly secure the listing of all of the Purchase Shares and Commitment Shares to be issued to the Investor
hereunder on the Principal Market (subject to official notice of issuance) and upon each other national securities exchange or
automated quotation system, if any, upon which the Common Stock is then listed, and shall maintain, so long as any shares of Common
Stock shall be so listed, such listing of all such Securities from time to time issuable hereunder. The Company shall use reasonable
best efforts to maintain the listing of the Common Stock on the Principal Market and shall comply in all respects with the Company’s
reporting, filing and other obligations under the bylaws or rules and regulations of the Principal Market. Neither the Company
nor any of its Subsidiaries shall take any action that would reasonably be expected to result in the delisting or suspension of
the Common Stock on the Principal Market.  The Company shall promptly, and in no event later than the following Business
Day, provide to the Investor copies of any notices it receives from any Person regarding the continued eligibility of the Common
Stock for listing on the Principal Market; provided, however, that the Company shall not be required to provide the Investor copies
of any such notice that the Company reasonably believes constitutes material non-public information and the Company would not
be required to publicly disclose such notice in any report or statement filed with the SEC and under the Exchange Act or the Securities
Act. The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 5(c).
 The Company shall take all action necessary to ensure that its Common Stock can be transferred electronically as DWAC Shares.

 

    	 	-24-	 

    

    

 

(d) Prohibition
of Short Sales and Hedging Transactions. The Investor agrees that, beginning on the date of this Agreement and ending on the
date of termination of this Agreement as provided in Section 11, the Investor and its agents, representatives and affiliates shall
not in any manner whatsoever enter into or effect, directly or indirectly, any (i) “short sale” (as such term is defined
in Rule 200 of Regulation SHO of the Exchange Act) of the Common Stock or (ii) hedging transaction, which establishes a net short
position with respect to the Common Stock.

 

(e) Issuance
of Commitment Shares. In consideration for the Investor’s execution and delivery of this Agreement, the Company shall
cause to be issued to the Investor a total of 852,537 shares

of
Common Stock (the "Commitment Shares") immediately upon the execution of this Agreement and shall deliver on
the Execution Date the Irrevocable Transfer Agent Instructions to the Transfer Agent and cause the Commitment Shares to be issued
to the Investor, immediately upon the execution of this Agreement, at which time, for the avoidance of doubt, all of the Commitment
Shares shall be fully earned, whether or not any other Purchase Shares are purchased by the Investor under this Agreement and
irrespective of any subsequent termination of this Agreement.

 

(f) Due
Diligence; Non-Public Information. During the term of this Agreement, the Investor shall have the right, from time to time
as the Investor may reasonably deem appropriate, to perform reasonable due diligence on the Company during normal business hours.
The Company and its officers and employees shall provide information and reasonably cooperate with the Investor in connection
with any reasonable request by the Investor related to the Investor’s due diligence of the Company. Each party hereto agrees
not to disclose any Confidential Information of the other party to any third party and shall not use the Confidential Information
for any purpose other than in connection with, or in furtherance of, the transactions contemplated hereby. Each party hereto acknowledges
that the Confidential Information shall remain the property of the disclosing party and agrees that it shall take all reasonable
measures to protect the secrecy of any Confidential Information disclosed by the other party. From and after the date of this
Agreement, the Company confirms that neither it nor any other Person acting on its behalf shall provide the Investor or its agents
or counsel with any information that the Company believes constitutes material, non-public information, unless a simultaneous
public announcement thereof is made by the Company in the manner contemplated by Regulation FD under the Exchange Act. In the
event of a breach of the foregoing covenant by the Company or any Person acting on its behalf (as determined in the reasonable
good faith judgment of the Investor), in addition to any other remedy provided herein or in the other Transaction Documents, the
Investor shall have the right to make a public disclosure, in the form of a press release, public advertisement or otherwise,
of such material, non-public information without the prior approval by the Company; provided the Investor shall have first provided
notice to the Company that it believes it has received information that constitutes material, non-public information, the Company
shall have at least 24 hours to publicly disclose such material, non-public information prior to any such disclosure by the Investor,
and the Company shall have failed to publicly disclose such material, non-public information within such time period. The Investor
shall not have any liability to the Company, any of its Subsidiaries, or any of their respective directors, officers, employees,
shareholders or agents, for any such disclosure. The Company understands and confirms that the Investor shall be relying on the
foregoing covenants in effecting transactions in securities of the Company.

 

    	 	-25-	 

    

    

 

(g)
 Purchase Records. The Investor and the Company shall each maintain records showing
the remaining Available Amount at any given time and the dates and Purchase Amounts for each Regular Purchase, Accelerated Purchase
and Additional Accelerated Purchase or shall use such other method, reasonably satisfactory to the Investor and the Company.

 

(h) Taxes.
The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the issuance and delivery
of any Common Stock to the Investor made under this Agreement.

(i) 
Effective Registration Statement; Current Prospectuses. The Company shall use its reasonable best efforts to keep the Registration
Statement effective pursuant to Rule 415 promulgated under the Securities Act, and to keep the Registration Statement and the
Prospectus current and available for issuances and sales of all of the Securities by the Company to the Investor, and for the
resale by the Investor as prescribed by Registration Rights Agreement, the Company shall comply with all applicable federal, state
and foreign securities laws in connection with the offer, issuance and sale of the Securities contemplated by the Transaction
Documents. Without limiting the generality of the foregoing, neither the Company nor any of its officers, directors or affiliates
will take, directly or indirectly, any action designed or intended to stabilize or manipulate the price of any security of the
Company, or which would reasonably be expected to cause or result in, stabilization or manipulation of the price of any security
of the Company.

 

(j) Compliance
with Laws. The Company and each of its Subsidiaries shall maintain, or cause to be maintained, all material permits, licenses
and other authorizations required by federal, state and local law in order to conduct their businesses substantially as described
in the SEC Documents, and the Company and each of its Subsidiaries shall conduct their businesses, or cause their businesses to
be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable laws, except where
the failure to maintain or be in compliance with such permits, licenses and authorizations could not reasonably be expected to
have a Material Adverse Effect. The Company shall comply with all requirements imposed upon it by the Securities Act and the Exchange
Act and applicable U.S. state securities or “Blue Sky” laws as from time to time may be in force in connection with
the offer, issuance and sale of the Securities contemplated by the Transaction Documents. Without limiting the generality of the
foregoing, neither the Company nor any of its officers, directors or affiliates will take, directly or indirectly, any action
designed or intended to stabilize or manipulate the price of any security of the Company, or which would reasonably be expected
to cause or result in, stabilization or manipulation of the price of any security of the Company. The Company will conduct its
affairs in such a manner so as to reasonably ensure that neither it nor the Subsidiaries will be or become, at any time prior
to the termination of this Agreement, an “investment company,” as such term is defined in the Investment Company Act,
assuming no change in the SEC’s current interpretation as to entities that are not considered an investment company. The
Company and the Subsidiaries will use their best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley
Act and The Dodd–Frank Wall Street Reform and Consumer Protection Act.

 

    	 	-26-	 

    

    

 

(k) Stop
Orders. The Company shall advise the Investor promptly (but in no event later than 24 hours) and shall confirm such advice
in writing: (i) of the Company’s receipt of notice of any request by the SEC for amendment of or a supplement to the Registration
Statement, the Prospectus, any Prospectus Supplement or for any additional information; (ii) of the Company’s receipt of
notice of the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement or prohibiting
or suspending the use of the Prospectus or any Prospectus Supplement, or of the Company’s receipt of any notification of
the suspension of qualification of the Securities for offering or sale in any jurisdiction or the initiation or contemplated initiation
of any proceeding for such purpose; and (iii) of the Company becoming aware of the happening of any event, which makes any statement
of a material fact made in the Registration Statement, the Prospectus or any Prospectus Supplement untrue or which requires the
making of any additions to or changes to the statements then made in the Registration Statement, the Prospectus or any Prospectus
Supplement in order to state a material fact required by the Securities Act to be stated therein or necessary in order to make
the statements then made therein (in the case of the Prospectus or any Prospectus Supplement, in light of the circumstances under
which they were made) not misleading, or of the necessity to amend the Registration Statement or supplement the Prospectus or
any Prospectus Supplement to comply with the Securities Act or any other law. The Company shall not be required to disclose to
the Investor the substance or specific reasons of any of the events set forth in clauses (i) through (iii) of the immediately
preceding sentence, but rather, shall only be required to disclose that the event has occurred. The Company shall not deliver
to the Investor any Regular Purchase Notice, Accelerated Purchase Notice or Additional Accelerated Purchase Notice, and the Investor
shall not be obligated to purchase any shares of Common Stock under this Agreement, during the continuation or pendency of any
of the foregoing events. If at any time the SEC shall issue any stop order suspending the effectiveness of the Registration Statement
or prohibiting or suspending the use of the Prospectus or any Prospectus Supplement, the Company shall use its reasonable best
efforts to obtain the withdrawal of such order at the earliest possible time. The Company shall furnish to the Investor, without
charge, a copy of any correspondence from the SEC or the staff of the SEC to the Company or its representatives relating to the
Registration Statement or the Prospectus, as the case may be.

 

(l) Amendments
to Registration Statement; Prospectus Supplements. Except as provided in this Agreement and other than periodic and current
reports required to be filed pursuant to the Exchange Act, the Company shall not file with the SEC any amendment to the Registration
Statement or any supplement to the Base Prospectus that refers to the Investor, the Transaction Documents or the transactions
contemplated thereby (including, without limitation, any Prospectus Supplement filed in connection with the transactions contemplated
by the Transaction Documents), in each case with respect to which (a) the Investor shall not previously have been advised and
afforded the opportunity to review and comment thereon at least two (2) Business Days prior to filing with the SEC, as the case
may be, (b) the Company shall not have given due consideration to any comments thereon received from the Investor or its counsel,
or (c) the Investor shall reasonably object, unless the Company reasonably has determined that it is necessary to amend the Registration
Statement or make any supplement to the Prospectus to comply with the Securities Act or any other applicable law or regulation,
in which case the Company shall promptly (but in no event later than 24 hours) so inform the Investor, the Investor shall be provided
with a reasonable opportunity to review and comment upon any disclosure referring to the Investor, the Transaction Documents or
the transactions contemplated thereby, as applicable, and the Company shall expeditiously furnish to the Investor a copy thereof.
In addition, for so long as, in the reasonable opinion of counsel for the Investor, the Prospectus is required to be delivered
in connection with any acquisition or sale of Securities by the Investor, the Company shall not file any Prospectus Supplement
with respect to the Securities without furnishing to the Investor as many copies of such Prospectus Supplement, together with
the Prospectus, as the Investor may reasonably request.

 

    	 	-27-	 

    

    

 

(m) Prospectus
Delivery. The Company consents to the use of the Prospectus (and of each Prospectus Supplement thereto) in accordance with
the provisions of the Securities Act and with the securities or “blue sky” laws of the jurisdictions in which the
Securities may be sold by the Investor, in connection with the offering and sale of the Securities and for such period of time
thereafter as the Prospectus is required by the Securities Act to be delivered in connection with sales of the Securities. The
Company will make available to the Investor upon request, and thereafter from time to time will furnish to the Investor, as many
copies of the Prospectus (and each Prospectus Supplement thereto) as the Investor may reasonably request for the purposes contemplated
by the Securities Act within the time during which the Prospectus is required by the Securities Act to be delivered in connection
with sales of the Securities. If during such period of time any event shall occur that in the reasonable judgment of the Company
and its counsel, or in the reasonable judgment of the Investor and its counsel, is required to be set forth in the Registration
Statement, the Prospectus or any Prospectus Supplement or should be set forth therein in order to make the statements made therein
(in the case of the Prospectus or any Prospectus Supplement, in light of the circumstances under which they were made) not misleading,
or if in the reasonable judgment of the Company and its counsel, or in the reasonable judgment of the Investor and its counsel,
it is otherwise necessary to amend the Registration Statement or supplement the Prospectus or any Prospectus Supplement to comply
with the Securities Act or any other applicable law or regulation, the Company shall forthwith prepare and, subject to Section
5(l) above, file with the SEC an appropriate amendment to the Registration Statement or an appropriate Prospectus Supplement
and in each case shall expeditiously furnish to the Investor, at the Company’s expense, such amendment to the Registration
Statement or such Prospectus Supplement, as applicable, as may be necessary to reflect any such change or to effect such compliance.
The Company shall have no obligation to separately advise the Investor of, or deliver copies to the Investor of, the SEC Documents,
all of which the Investor shall be deemed to have notice of.

 

(n) Use
of Proceeds. The Company will use the net proceeds from the offering contemplated hereby as described in the Prospectuses
in the section entitled “Use of Proceeds.”

 

(o) Aggregation.
 From and after the date of this Agreement, neither the Company, nor or any of its affiliates will, and the Company shall
use its reasonable best efforts to ensure that no Person acting on their behalf will, directly or indirectly, make any offers
or sales of any security or solicit any offers to buy any security, under circumstances that would cause this offering of the
Securities by the Company to the Investor to be aggregated with other offerings by the Company in a manner that would require
stockholder approval pursuant to the rules of the Principal Market on which any of the securities of the Company are listed or
designated, unless stockholder approval is obtained before the closing of such subsequent transaction in accordance with the rules
of such Principal Market.

 

(p) Other
Transactions. During the term of this Agreement, the Company shall not enter into, announce or recommend to its shareholders
any agreement, plan, arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with
or impair the ability or right of the Company to perform its obligations under the Transaction Documents, including, without limitation,
the obligation of the Company to deliver the Purchase Shares and the Commitment Shares to the Investor in accordance with the
terms of the Transaction Documents.

 

(q) Required
Filings Relating to Purchases. To the extent required under the Securities Act or under interpretations by the SEC thereof,
as promptly as practicable after the close of each of the Company’s fiscal quarters (or on such other dates as required
under the Securities Act or under interpretations by the SEC thereof), the Company shall prepare a Prospectus Supplement, which
will set forth the number of Purchase Shares sold to the Investor during such quarterly period (or other relevant period), the
purchase price for such Purchase Shares and the net proceeds received by the Company from such sales, and shall file such Prospectus
Supplement with the SEC pursuant to Rule 424(b) under the Securities Act (and within the time periods required by Rule 424(b)
and Rule 430B under the Securities Act). If any such quarterly Prospectus Supplement is not required to be filed under the Securities
Act or under interpretations by the SEC thereof, the Company shall disclose the information referenced in the immediately preceding
sentence in its annual report on Form 10-K or its quarterly report on Form 10-Q (as applicable) in respect of the quarterly period
that ended immediately before the filing of such report in which sales of Purchase Shares were made to the Investor under this
Agreement, and file such report with the SEC within the applicable time period required by the Exchange Act. The Company shall
not file any Prospectus Supplement pursuant to this Section 5(q), and shall not file any report containing disclosure relating
to such sales of Purchase Shares, unless a copy of such Prospectus Supplement or disclosure has been submitted to the Investor
a reasonable period of time before the filing and the Investor has not reasonably objected thereto (it being acknowledged and
agreed that the Company shall not submit any portion of any Form 10-K or Form 10-Q other than the specific disclosure relating
to any sales of Purchase Shares). The Company shall also furnish copies of all such Prospectus Supplements to each exchange or
market in the United States on which sales of the Purchase Shares may be made as may be required by the rules or regulations of
such exchange or market, if applicable.

 

    	 	-28-	 

    

    

 

(r) 
Limitation on Variable Rate Transactions.  From and after the date of this Agreement until the Maturity Date, the
Company and its Subsidiaries shall be prohibited from effecting or entering into an agreement to effect any issuance by the Company
or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable
Rate Transaction, other than in connection with an Exempt Issuance (as defined below).  The Investor shall be entitled to
seek injunctive relief against the Company and its Subsidiaries to preclude any such issuance, which remedy shall be in addition
to any right to collect damages, without the necessity of showing economic loss and without any bond or other security being required.
“Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any equity or debt
securities that are convertible into, exchangeable or exercisable for, or include the right to receive additional shares of Common
Stock or Common Stock Equivalents either (A) at a conversion price, exercise price, exchange rate or other price that is based
upon and/or varies with the trading prices of or quotations for the Common Stock at any time after the initial issuance of such
equity or debt securities (including, without limitation, pursuant to any “cashless exercise” provision), or (B) with
a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such
equity or debt security or upon the occurrence of specified or contingent events directly or indirectly related to the business
of the Company or the market for the Common Stock (including, without limitation, any “full ratchet” or “weighted
average” anti-dilution provisions, but not including any standard anti-dilution protection for any reorganization, recapitalization,
non-cash dividend, stock split or other similar transaction), (ii) issues or sells any equity or debt securities, including without
limitation, Common Stock or Common Stock Equivalents, either (A) at a price that is subject to being reset at some future date
after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or
indirectly related to the business of the Company or the market for the Common Stock (other than standard anti-dilution protection
for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction), or (B) that is subject
to or contains any put, call, redemption, buy-back, price-reset or other similar provision or mechanism (including, without limitation,
a “Black-Scholes” put or call right) that provides for the issuance of additional equity securities of the Company
or the payment of cash by the Company, or (iii) enters into any agreement, including, but not limited to, an “equity line
of credit”, “at-the-market offering” that is not an Exempt Issuance or other continuous offering or similar
offering of Common Stock or Common Stock Equivalents, whereby the Company may sell Common Stock or Common Stock Equivalents at
a future determined price. “Exempt Issuance” means the issuance of (a) Common Stock, options or other equity
incentive awards to employees, officers, directors or vendors of the Company pursuant to any equity incentive plan duly adopted
for such purpose, by the Board of Directors or a majority of the members of a committee of directors established for such purpose,
(b) any Securities issued to the Investor pursuant to this Agreement, (c) shares of Common Stock, Common Stock Equivalents or
other securities issued to the Investor pursuant to any other existing or future contract, agreement or arrangement between the
Company and the Investor, (d) shares of Common Stock, Common Stock Equivalents or other securities upon the exercise, exchange
or conversion of any shares of Common Stock, Common Stock Equivalents or other securities held by the Investor at any time, (e)
any securities issued upon the exercise or exchange of or conversion of any Common Stock Equivalents issued and outstanding on
the date of this Agreement, provided that such securities or Common Stock Equivalents referred to in this clause (e) have not
been amended since the date of this Agreement to increase the number of such securities or Common Stock underlying such securities
or to decrease the exercise price, exchange price or conversion price of such securities, (f) Common Stock Equivalents that are
convertible into, exchangeable or exercisable for, or include the right to receive shares of Common Stock at a conversion price,
exercise price, exchange rate or other price (which may be below the then current market price of the Common Stock) that is fixed
at the time of initial issuance of such Common Stock Equivalents (subject only to standard anti-dilution protection for any reorganization,
recapitalization, non-cash dividend, stock split or other similar transaction), which fixed conversion price, exercise price,
exchange rate or other price shall not at any time after the initial issuance of such Common Stock Equivalent be based upon or
varying with the trading prices of or quotations for the Common Stock or subject to being reset at some future date, (g) securities
issued pursuant to acquisitions, divestitures, licenses, partnerships, collaborations or strategic transactions approved by the
Board of Directors or a majority of the members of a committee of directors established for such purpose, which acquisitions,
divestitures, licenses, partnerships, collaborations or strategic transactions can have a Variable Rate Transaction component,
provided that any such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself or through its
subsidiaries, an operating company or an asset in a business synergistic with the business of the Company and shall provide to
the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company
is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities,
(h) Common Stock issued pursuant to an “at-the-market offering” by the Company exclusively through a registered broker-dealer
acting as agent of the Company pursuant to a written agreement between the Company and such registered broker-dealer or (i) securities
(such as warrants) or Common Stock issued in connection with future financings or offerings of the Company, such as but not limited
to, registered direct offerings, rights offerings, and confidentially marketed public offerings; provided such transactions do
not involve a Variable Rate Transaction.

 

    	 	-29-	 

    

    

 

6. TRANSFER
AGENT INSTRUCTIONS.

 

(a) On
the date of this Agreement, the Company shall issue to the Transfer Agent irrevocable instructions, in the form substantially
similar to those used by the Investor in substantially similar transactions and in any case agreed to by the Investor, to issue
the Securities in accordance with the terms of this Agreement (the “Irrevocable Transfer Agent Instructions”).
The Company warrants to the Investor that no instruction other than as set forth in this Section 6 will be given by the
Company to the Transfer Agent with respect to the Securities, and the Securities shall otherwise be freely transferable on the
books and records of the Company.

 

(b) On
the earlier of (i) the Commencement Date and (ii) such time that the Investor shall request, provided all conditions of Rule 144
under the Securities Act are met, the Company shall, no later than one (1) Business Day following the delivery by the Investor
to the Company or the Transfer Agent of one or more legended certificates or book-entry statements representing the Commitment
Shares (which certificates or book-entry statements the Investor shall promptly deliver on or prior to the first to occur of the
events described in clauses (i) and (ii) of this sentence), as directed by the Investor, issue and deliver (or cause to be issued
and delivered) to the Investor, as requested by the Investor, either: (A) a certificate or book-entry statement representing such
Commitment Shares that is free from all restrictive and other legends or (B) a number of shares of Common Stock equal to the number
of Commitment Shares represented by the certificate(s) or book-entry statement(s) so delivered by the Investor as DWAC Shares.
The Company shall take all actions to carry out the intent and accomplish the purposes of the immediately preceding sentence,
including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions to the
Transfer Agent, and any successor transfer agent of the Company, as may be requested from time to time by the Investor or necessary
or desirable to carry out the intent and accomplish the purposes of the immediately preceding sentence. On the Commencement Date,
the Company shall issue to the Transfer Agent, and any subsequent transfer agent, (i) irrevocable instructions in the form substantially
similar to those used by the Investor in substantially similar transactions (the “Commencement Irrevocable Transfer Agent
Instructions”) and (ii) the notice of effectiveness of the Registration Statement in the form attached as an exhibit
to the Registration Rights Agreement (the “Notice of Effectiveness of Registration Statement”), in each case
to issue the Commitment Shares and the Purchase Shares in accordance with the terms of this Agreement and the Registration Rights
Agreement. All Purchase Shares to be issued from and after Commencement to or for the benefit of the Investor pursuant to this
Agreement shall be issued only as DWAC Shares. The Company represents and warrants to the Investor that, while this Agreement
is effective, no instruction other than the Commencement Irrevocable Transfer Agent Instructions and the Notice of Effectiveness
of Registration Statement referred to in this Section 6(b) will be given by the Company to the Transfer Agent with respect
to the Purchase Shares or the Commitment Shares from and after Commencement, and the Purchase Shares and the Commitment Shares
covered by the Registration Statement shall otherwise be freely transferable on the books and records of the Company. The Company
agrees that if the Company fails to fully comply with the provisions of this Section 6(b) within five (5) Business Days
of the Investor providing the deliveries referred to above, the Company shall, at the Investor’s written instruction, purchase
such shares of Common Stock containing the Restrictive Legend from the Investor at the greater of the (i) purchase price paid
for such shares of Common Stock (as applicable) and (ii) the Closing Sale Price of the Common Stock on the date of the Investor’s
written instruction.

 

    	 	-30-	 

    

    

 

7.
CONDITIONS TO THE COMPANY'S RIGHT TO COMMENCES ALES OF COMMON STOCK.

 

The
right of the Company hereunder to commence sales of the Purchase Shares on the Commencement Date is subject to the satisfaction
or, where legally permissible, the waiver of each of the following conditions:

 

(a) The
Investor shall have executed each of the Transaction Documents and delivered the same to the Company;

 

(b) No
stop order with respect to the Registration Statement shall be pending or threatened by the SEC; and

 

(c) The
representations and warranties of the Investor shall be true and correct in all material respects as of the Execution Date and
as of the Commencement Date as though made at that time.

 

 8. CONDITIONS TO THE INVESTOR'S OBLIGATION TO PURCHASE COMMON STOCK.

 

The
obligation of the Investor to buy Purchase Shares under this Agreement is subject to the satisfaction or, where legally permissible,
the waiver of each of the following conditions on or prior to the Commencement Date and, once such conditions have been initially
satisfied, there shall not be any ongoing obligation to satisfy such conditions after the Commencement has occurred:

 

(a) The
Company shall have executed each of the Transaction Documents and delivered the same to the Investor;

 

(b) The
Common Stock shall be listed on the Principal Market and all Securities to be issued by the Company to the Investor pursuant to
this Agreement shall have been approved for listing on the Principal Market in accordance with the applicable rules and regulations
of the Principal Market, subject only to official notice of issuance;

 

(c) The
Investor shall have received the opinions of the Company's legal counsel dated as of the Commencement Date substantially in the
forms agreed to prior to the date of this Agreement by the Company’s legal counsel and the Investor’s legal counsel;

 

    	 	-31-	 

    

    

 

(d) The
representations and warranties of the Company contained in this Agreement shall be true and correct in all material respects (except
to the extent that any of such representations and warranties is qualified as to materiality, in which case, any of such representations
and warranties shall be true and correct as so qualified) as of the Execution Date and as of the Commencement Date as though made
at that time (except for representations and warranties that speak as of a specific date, which shall be true and correct in all
material respects as of such date) and the Company shall have performed, satisfied and complied in all material respects with
the covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by
the Company at or prior to the Commencement Date. The Investor shall have received a certificate, executed by the CEO, President
or CFO of the Company, dated as of the Commencement Date, to the foregoing effect in the form attached hereto as Exhibit
A;

 

(e) The
Board of Directors of the Company shall have adopted resolutions in connection with this Agreement and the transactions contemplated
hereby which shall be in full force and effect without any amendment or supplement thereto as of the Commencement Date;

 

(f) As
of the Commencement Date, the Company shall have reserved out of its authorized and unissued Common Stock the Reserve Amount,
solely for the purpose of effecting purchases of Purchase Shares hereunder;

 

(g) The
Irrevocable Transfer Agent Instructions, the Commencement Irrevocable Transfer Agent Instructions and the Notice of Effectiveness
of Registration Statement shall have been delivered to the Company’s Transfer Agent (or any successor transfer agent) and
acknowledged in writing by the Company and the Company’s Transfer Agent (or any successor transfer agent), and the Commitment
Shares shall have been issued directly to the Investor electronically as DWAC Shares;

 

(h) The
Company shall have delivered to the Investor a certificate evidencing the incorporation and good standing of the Company in the
State of Delaware issued by the Secretary of State of the State of Delaware as of a date within ten (10) Business Days of the
Commencement Date;

 

(i) The
Company shall have delivered to the Investor a certified copy of the Certificate of Incorporation as certified by the Secretary
of State of the State of Delaware within ten (10) Business Days of the Commencement Date;

 

(J) The
Company shall have delivered to the Investor an secretary’s certificate executed by the Secretary of the Company, dated
as of the Commencement Date, in the form attached hereto as Exhibit B;

 

(k) The
Registration Statement shall continue to be effective and no stop order with respect to the Registration Statement shall be pending
or threatened by the SEC. The Company shall have a maximum dollar amount of Common Stock registered under the Registration Statement
which is sufficient to issue to the Investor not less than (i) the full Available Amount worth of Purchase Shares plus (ii) all
of the Commitment Shares. The Current Report and the Initial Prospectus Supplement each shall have been filed with the SEC, as
required pursuant to Section 5(a), and copies of the Prospectus shall have been delivered to the Investor in accordance
with Section 5(m) hereof. The Prospectus shall be current and available for issuances and sales of all of the Securities
by the Company to the Investor, and for the resale of all of the Securities by the Investor. Any other Prospectus Supplements
required to have been filed by the Company with the SEC under the Securities Act at or prior to the Commencement Date shall have
been filed with the SEC within the applicable time periods prescribed for such filings under the Securities Act. All reports,
schedules, registrations, forms, statements, information and other documents required to have been filed by the Company with the
SEC at or prior to the Commencement Date pursuant to the reporting requirements of the Exchange Act shall have been filed with
the SEC within the applicable time periods prescribed for such filings under the Exchange Act;

 

    	 	-32-	 

    

    

 

(l) No
Event of Default has occurred, or any event which, after notice and/or lapse of time, would become an Event of Default has occurred;

 

(m) All
federal, state and local governmental laws, rules and regulations applicable to the transactions contemplated by the Transaction
Documents and necessary for the execution, delivery and performance of the Transaction Documents and the consummation of the transactions
contemplated thereby in accordance with the terms thereof shall have been complied with, and all consents, authorizations and
orders of, and all filings and registrations with, all federal, state and local courts or governmental agencies and all federal,
state and local regulatory or self-regulatory agencies necessary for the execution, delivery and performance of the Transaction
Documents and the consummation of the transactions contemplated thereby in accordance with the terms thereof shall have been obtained
or made, including, without limitation, in each case those required under the Securities Act, the Exchange Act, applicable state
securities or “Blue Sky” laws or applicable rules and regulations of the Principal Market, or otherwise required by
the SEC, the Principal Market or any state securities regulators;

 

(n) No
statute, regulation, order, decree, writ, ruling or injunction shall have been enacted, entered, promulgated, threatened or endorsed
by any federal, state, local or foreign court or governmental authority of competent jurisdiction which prohibits the consummation
of or which would materially modify or delay any of the transactions contemplated by the Transaction Documents;

 

(o) No
action, suit or proceeding before any federal, state, local or foreign arbitrator or any court or governmental authority of competent
jurisdiction shall have been commenced or threatened, and no inquiry or investigation by any federal, state, local or foreign
governmental authority of competent jurisdiction shall have been commenced or threatened, against the Company, or any of the officers,
directors or affiliates of the Company, seeking to restrain, prevent or change the transactions contemplated by the Transaction
Documents, or seeking material damages in connection with such transactions; and

 

(p) The
Company shall have provided the Investor with the information requested by the Investor in connection with its due diligence requests
in accordance with the terms of Section 5(f) hereof.

 

(q) The
Company shall have paid to the Investor $20,000 as reimbursement for the Investors expenses in connection with entering into this
Agreement and the transactions contemplated hereby.

 

    	 	-33-	 

    

    

 

 9. INDEMNIFICATION. 

 

In
consideration of the Investor's execution and delivery of the Transaction Documents and acquiring the Securities hereunder and
in addition to all of the Company's other obligations under the Transaction Documents, the Company shall defend, protect, indemnify
and hold harmless the Investor and all of its affiliates, stockholders, officers, directors, members, managers, employees and
direct or indirect investors and any of the foregoing Person's agents or other representatives (including, without limitation,
those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees")
from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages,
and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification
hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"),
incurred by any Indemnitee as a result of, or arising out of or relating to: (a) any misrepresentation or breach of any representation
or warranty made by the Company in the Transaction Documents or any other certificate, instrument or document contemplated hereby
or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in the Transaction Documents or any
other certificate, instrument or document contemplated hereby or thereby, (c) any cause of action, suit or claim brought or made
against such Indemnitee and arising out of or resulting from the execution, delivery, performance or enforcement of the Transaction
Documents or any other certificate, instrument or  document contemplated hereby or thereby, (d) any violation of the Securities
Act, the Exchange Act, state securities or “Blue Sky” laws, or the rules and regulations of the Principal Market in
connection with the transactions contemplated by the Transaction Documents by the Company or any of its Subsidiaries, affiliates,
officers, directors or employees, (e) any untrue statement or alleged untrue statement of a material fact contained, or incorporated
by reference, in the Registration Statement or any amendment thereto or any omission or alleged omission to state therein, or
in any document incorporated by reference therein, a material fact required to be stated therein or necessary to make the statements
therein not misleading, or (f) any untrue statement or alleged untrue statement of a material fact contained, or incorporated
by reference, in the Prospectus, or any omission or alleged omission to state therein, or in any document incorporated by reference
therein, 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; provided, however, that (I) the indemnity contained in clause (c) of this Section
9 shall not apply to any Indemnified Liabilities which directly and primarily result from the fraud, gross negligence or willful
misconduct of an Indemnitee, (II) the indemnity contained in clauses (d), (e) and (f) of this Section 9 shall not apply
to any Indemnified Liabilities to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to
the Company by or on behalf of the Investor expressly for use in any Prospectus Supplement (it being hereby acknowledged and agreed
that the written information set forth on Exhibit C attached hereto is the only written information furnished to
the Company by or on behalf of the Investor expressly for use in the Initial Prospectus Supplement), if the Prospectus was timely
made available by the Company to the Investor pursuant to Section 5(l), (III) the indemnity contained in clauses (d), (e)
and (f) of this Section 9 shall not inure to the benefit of the Investor to the extent such Indemnified Liabilities are
based on a failure of the Investor to deliver or to cause to be delivered the Prospectus made available by the Company, if such
Prospectus was timely made available by the Company pursuant to Section 5(l), and if delivery of the Prospectus would have
cured the defect giving rise to such Indemnified Liabilities, and (IV) the indemnity in this Section 9 shall not apply
to amounts paid in settlement of any claim if such settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld, conditioned or delayed. To the extent that the foregoing undertaking by the Company
may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of
the Indemnified Liabilities which is permissible under applicable law.  Payment under this indemnification shall be made
within thirty (30) days from the date the Investor makes written request for it. A certificate containing reasonable detail as
to the amount of such indemnification submitted to the Company by Investor shall be conclusive evidence, absent manifest error,
of the amount due from the Company to Investor. If any action shall be brought against any Indemnitee in respect of which indemnity
may be sought pursuant to this Agreement, such Indemnitee shall promptly notify the Company in writing, and the Company shall
have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Indemnitee. Any Indemnitee
shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses
of such counsel shall be at the expense of such Indemnitee, except to the extent that (i) the employment thereof has been
specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume
such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of such separate counsel,
a material conflict on any material issue between the position of the Company and the position of such Indemnitee, in which case
the Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel.

 

    	 	-34-	 

    

    

 

10. EVENTS
OF DEFAULT. 

 

An
“Event of Default” shall be deemed to have occurred at any time as any of the following events occurs:

 

(a) the
effectiveness of the Registration Statement registering the Securities lapses for any reason (including, without limitation, the
issuance of a stop order or similar order), the Registration Statement or any Prospectus is unavailable for the sale by the Company
to the Investor (or the resale by the Investor) of any or all of the Securities to be issued to the Investor under the Transaction
Documents (including, without limitation, as a result of any failure of the Company to satisfy all of the requirements for the
use of a registration statement on Form S-3 pursuant to the Securities Act for the offering and sale of the Securities contemplated
by this Agreement at any time), and any such lapse or unavailability continues for a period of ten (10) consecutive Business Days
or for more than an aggregate of thirty (30) Business Days in any 365-day period;

 

(b) the
suspension of the Common Stock from trading or the failure of the Common Stock to be listed on the Principal Market for a period
of one (1) Business Day, provided that the Company may not direct the Investor to purchase any Common Stock during any such suspension;

 

(c) the
delisting of the Common Stock from the NYSE American provided, however, that the Common Stock are not immediately thereafter trading
on the New York Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, The NASDAQ Capital Market, the NYSE
Arca, the OTC Bulletin Board or OTC Markets (or nationally recognized successor to any of the foregoing);

 

(d) the
failure for any reason by the Transfer Agent to issue Purchase Shares to the Investor within three (3) Business Days after Purchase
Date, Accelerated Purchase Date or Additional Accelerated Purchase Date, as applicable, on which the Investor is entitled to receive
such Purchase Shares;

 

(e) the
Company breaches any representation, warranty, covenant or other term or condition under any Transaction Document if such breach
could have a Material Adverse Effect and except, in the case of a breach of a covenant which is reasonably curable, only if such
breach continues for a period of at least five (5) Business Days;

 

(f) if
any Person commences a proceeding against the Company pursuant to or within the meaning of any Bankruptcy Law;

 

(g) if
the Company is at any time insolvent, or pursuant to or within the meaning of any Bankruptcy Law, (i) commences a voluntary case,
(ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian
of it or for all or substantially all of its property, or (iv) makes a general assignment for the benefit of its creditors or
is generally unable to pay its debts as the same become due;

 

(h) a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (i) is for relief against the Company
in an involuntary case, (ii) appoints a Custodian of the Company or for all or substantially all of its property, or (iii) orders
the liquidation of the Company or any Subsidiary;

 

(i) if
at any time the Company is not eligible to transfer its Common Stock electronically as DWAC Shares; or

 

    	 	-35-	 

    

    

 

(j) if
at any time after the Commencement Date, the Exchange Cap is reached (to the extent the Exchange Cap is applicable pursuant to
Section 2(e) hereof) and the Company’s shareholders have not approved the transactions contemplated by this Agreement
in accordance with the applicable rules and regulations of the NYSE American, any other Principal Market on which the Common Stock
may be listed or quoted after the date of this Agreement, the Certificate of Incorporation and the Bylaws.

 

In
addition to any other rights and remedies under applicable law and this Agreement, so long as an Event of Default has occurred
and is continuing, or if any event which, after notice and/or lapse of time, would become an Event of Default, has occurred and
is continuing, or so long as the Closing Sale Price is below the Floor Price, the Company shall not deliver to the Investor any
Regular Purchase Notice or Accelerated Purchase Notice, and the Investor shall not purchase any Common Stock under this Agreement.

 

11. TERMINATION

 

This
Agreement may be terminated only as follows:

 

(a) If
pursuant to or within the meaning of any Bankruptcy Law, the Company commences a voluntary case or any Person commences a proceeding
against the Company, a Custodian is appointed for the Company or for all or substantially all of its property, or the Company
makes a general assignment for the benefit of its creditors (any of which would be an Event of Default as described in Sections
10(f), 10(g) and 10(h) hereof), this Agreement shall automatically terminate without any liability or payment
to the Company (except as set forth below) without further action or notice by any Person.

 

(b) In
the event that the Commencement shall not have occurred on or before November 30, 2018, due to the failure to satisfy the conditions
set forth in Sections 7 and 8 above with respect to the Commencement, either the Company or the Investor shall have
the option to terminate this Agreement at the close of business on such date or thereafter without liability of any party to any
other party (except as set forth below); provided, however, that the right to terminate this Agreement under this Section 11(b)
shall not be available to any party if such party is then in breach of any covenant or agreement contained in this Agreement
or any representation or warranty of such party contained in this Agreement fails to be true and correct such that the conditions
set forth in Section 7(c) or Section 8(d), as applicable, could not then be satisfied.

 

(c) 
At any time after the Commencement Date, the Company shall have the option to terminate this Agreement for any reason or for no
reason by delivering notice (a “Company Termination Notice”) to the Investor electing to terminate this Agreement
without any liability whatsoever of any party to any other party under this Agreement (except as set forth below in this Section
11). The Company Termination Notice shall not be effective until one (1) Business Day after it has been received by the Investor.

 

(d) This
Agreement shall automatically terminate on the date that the Company sells and the Investor purchases the full Available Amount
as provided herein, without any action or notice on the part of any party and without any liability whatsoever of any party to
any other party under this Agreement (except as set forth below).

 

(e) If
for any reason or for no reason the full Available Amount has not been purchased in accordance with Section 2 of this Agreement
by the Maturity Date, this Agreement shall automatically terminate on the Maturity Date, without any action or notice on the part
of any party and without any liability whatsoever of any party to any other party under this Agreement (except as set forth below).

 

    	 	-36-	 

    

    

 

Except
as set forth in Sections 11(a) (in respect of an Event of Default under Sections 10(f), 10(g), 10(h), 11(d)
and 11(e), any termination of this Agreement pursuant to this Section 11 shall be effected by written notice
from the Company to the Investor, or the Investor to the Company, as the case may be, setting forth the basis for the termination
hereof). The representations and warranties and covenants of the Company and the Investor contained in Sections 3, 4,
5, and 6 hereof, the indemnification provisions set forth in Section 9 hereof and the agreements and covenants
set forth in Sections 10, 11 and 12 shall survive the Commencement and any termination of this Agreement.
No termination of this Agreement shall (i) affect the Company’s or the Investor’s rights or obligations under this
Agreement with respect to pending Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases and the Company
and the Investor shall complete their respective obligations with respect to any pending Regular Purchases, Accelerated Purchases
and Additional Accelerated Purchases under this Agreement or (ii) be deemed to release the Company or the Investor from any liability
for intentional misrepresentation or willful breach of any of the Transaction Documents.

 

12. MISCELLANEOUS.

 

(a) Governing
Law; Jurisdiction; Jury Trial. The corporate laws of the State of Delaware shall govern all issues concerning the relative
rights of the Company and its stockholders. All other questions concerning the construction, validity, enforcement and interpretation
of this Agreement and the other Transaction Documents shall be governed by the internal laws of the State of Illinois, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Illinois or any other jurisdictions)
that would cause the application of the laws of any jurisdictions other than the State of Illinois.  Each party hereby irrevocably
submits to the exclusive jurisdiction of the state and federal courts sitting in the State of Illinois, County of Cook, for the
adjudication of any dispute hereunder or under the other Transaction Documents or in connection herewith or therewith, or with
any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action
or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.  Each
party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by law.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH
OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b) Counterparts.
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party; provided that a
facsimile signature or signature delivered by e-mail in a “.pdf” format data file shall be considered due execution
and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original signature.

 

(c) Headings.
The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this
Agreement.

 

(d) Severability.
If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability
shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability
of any provision of this Agreement in any other jurisdiction.

 

    	 	-37-	 

    

    

 

(e) Entire
Agreement; Amendment. This Agreement supersedes all other prior oral or written agreements between the Investor, the Company,
their affiliates and Persons acting on their behalf with respect to the subject matter hereof, and this Agreement, the other Transaction
Documents and the instruments referenced herein contain the entire understanding of the parties with respect to the matters covered
herein and therein and, except as specifically set forth herein or therein, neither the Company nor the Investor makes any representation,
warranty, covenant or undertaking with respect to such matters. The Company acknowledges and agrees that is has not relied on,
in any manner whatsoever, any representations or statements, written or oral, other than as expressly set forth in the Transaction
Documents. No provision of this Agreement may be amended other than by a written instrument signed by both parties hereto.

 

(f) Notices.
Any notices, consents or other communications required or permitted to be given under the terms of this Agreement must be in writing
and will be deemed to have been delivered: (i) upon receipt when delivered personally; (ii) upon receipt when sent by facsimile
or email (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party);
or (iii) one Business Day after deposit with a nationally recognized overnight delivery service, in each case properly addressed
to the party to receive the same. The addresses for such communications shall be:

 

If
to the Company:

 

Actinium
Pharmaceuticals, Inc.

275
Madison Ave, 7th Floor

New
York, NY 10016

		Telephone:	646.677.3870

		E-mail:	soloughlin@actinium.com

		Attention:	Steve
O’Loughlin, Principal Financial Officer

 

With
a copy to (which shall not constitute notice or service of process):

 

The
Matt Law Firm, PLLC

1701
Genesee Street

Utica,
NY 13501

		Telephone:	315.235.2299

		Facsimile:	315.624.7359

		E-mail:	tslusarczyk@mattlawfirm.com

		Attention:	Thomas
R. Slusarczyk

 

If
to the Investor:

 

Lincoln
Park Capital Fund, LLC

440
North Wells, Suite 410

Chicago,
IL 60654

		Telephone:	312.822.9300

		Facsimile:	312.822.9301

		E-mail:	jscheinfeld@lpcfunds.com/jcope@lpcfunds.com

		Attention:	Josh
Scheinfeld/Jonathan Cope

 

    	 	-38-	 

    

    

 

With
a copy to (which shall not constitute notice or service of process):

 

K&L
Gates, LLP

200
South Biscayne Boulevard

Suite
3900

Miami,
Florida 33131

		Telephone:	305.539.3300

		Facsimile:	305.358.7095

		E-mail:	clayton.parker@klgates.com/matthew.ogurick@klgates.com

		Attention:	Clayton
E. Parker, Esq./Mathew Ogurick, Esq.

 

or
at such other address and/or facsimile number and/or to the attention of such other Person as the recipient party has specified
by written notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent or other communication, (B) mechanically or electronically generated
by the sender's facsimile machine or email account containing the time, date, and recipient facsimile number or email address,
as applicable, and an image of the first page of such transmission or (C) provided by a nationally recognized overnight delivery
service, shall be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight
delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(g) Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and assigns. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written consent
of the Investor, including by merger or consolidation. The Investor may not assign its rights or obligations under this Agreement.

 

(h) No
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns and, except as set forth in Section 9, is not for the benefit of, nor may any provision hereof be
enforced by, any other Person.

 

(i) Publicity.
 The Company shall afford the Investor and its counsel with the opportunity to review and comment upon, shall consult with
the Investor and its counsel on the form and substance of, and shall give due consideration to all such comments from the Investor
or its counsel on, any press release, SEC filing or any other public disclosure by or on behalf of the Company relating to the
Investor, its purchases hereunder or any aspect of the Transaction Documents or the transactions contemplated thereby, not less
than 24 hours prior to the issuance, filing or public disclosure thereof. The Investor must be provided with a final version of
any such press release, SEC filing or other public disclosure at least 24 hours prior to any release, filing or use by the Company
thereof. The Company agrees and acknowledges that its failure to fully comply with this provision constitutes a Material Adverse
Effect.

 

(j) Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.

 

    	 	-39-	 

    

    

 

(k) No
Financial Advisor, Placement Agent, Broker or Finder. The Company represents and warrants to the Investor that, except as
disclosed in Schedule 4(x), it has not engaged any financial advisor, placement agent, broker or finder in connection with
the transactions contemplated hereby. The Investor represents and warrants to the Company that it has not engaged any financial
advisor, placement agent, broker or finder in connection with the transactions contemplated hereby. The Company shall be responsible
for the payment of any fees or commissions, if any, of any financial advisor, placement agent, broker or finder relating to or
arising out of the transactions contemplated hereby. The Company shall pay, and hold the Investor harmless against, any liability,
loss or expense (including, without limitation, attorneys' fees and out of pocket expenses) arising in connection with any such
claim.

 

(l) No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

(m) Remedies,
Other Obligations, Breaches and Injunctive Relief. The Investor’s remedies provided in this Agreement, including, without
limitation, the Investor’s remedies provided in Section 9, shall be cumulative and in addition to all other remedies
available to the Investor under this Agreement, at law or in equity (including a decree of specific performance and/or other injunctive
relief), no remedy of the investor contained herein shall be deemed a waiver of compliance with the provisions giving rise to
such remedy and nothing herein shall limit the Investor’s right to pursue actual damages for any failure by the other party
to comply with the terms of this Agreement. The parties acknowledge that a breach by any party of its obligations hereunder will
cause irreparable harm to the non-breaching party and that the remedy at law for any such breach may be inadequate. The parties
therefore agree that, in the event of any such breach or threatened breach, the non-breaching party shall be entitled, in addition
to all other available remedies, to an injunction restraining any breach, without the necessity of showing economic loss and without
any bond or other security being required.

 

(n) Enforcement
Costs. If: (i) this Agreement is placed by the Investor in the hands of an attorney for enforcement or is enforced by the
Investor through any legal proceeding; (ii) an attorney is retained to represent the Investor in any bankruptcy, reorganization,
receivership or other proceedings affecting creditors' rights and involving a claim under this Agreement; or (iii) an attorney
is retained to represent the Investor in any other proceedings whatsoever in connection with this Agreement, then the Company
shall pay to the Investor, as incurred by the Investor, all reasonable costs and expenses including attorneys' fees incurred in
connection therewith, in addition to all other amounts due hereunder.

 

(o) Waivers.
No provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of
such waiver is sought. No failure or delay in the exercise of any power, right or privilege hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof
or of any other right, power or privilege.

 

(p) Adjustments
for Share Splits. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted
to take into account any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction effected
with respect to the Common Stock except as specifically stated herein.

 

*
* * * *

 

    	 	-40-	 

    

    

 

IN
WITNESS WHEREOF, the Investor and the Company have caused this Agreement to be duly executed as of the Execution Date.

 

	 	THE COMPANY:
	 	 
	 	ACTINIUM PHARMACEUTICALS, INC.
	 	 
	 	By: 	/s/
    Sandesh Seth
	 	Name:	 Sandesh Seth
	 	Title: 	Chairman and Chief Executive Officer
	 	 
	 	INVESTOR:
	 	 
	 	LINCOLN PARK CAPITAL FUND, LLC
	 	 
	 	By: 	/s/ Jonathan Cope
	 	Name:	 Jonathan Cope
	 	Title:	 Managing Member

 

    	 	-41-	 

    

    

 

SCHEDULES

 

	Schedule
                               4(c)	Capitalization
	Schedule
                               4(p)	Tax
Status
	Schedule
                               4(x)	Agent
Fees

 

EXHIBITS

 

	Exhibit
A	Form
of Officer’s Certificate
	Exhibit B	Form
of Secretary’s Certificate
	Exhibit C	Information
About Investor Furnished to the Company

 

     

    

    

 

DISCLOSURE
SCHEDULES

 

Schedule
4(c)     Capitalization

 

None.

 

     

    

    

 

Schedule
4(p)     Tax Status

 

None.

 

Schedule
4(x) – Agent Fees

 

None.

 

     

    

    

 

EXHIBIT
A

 

FORM
OF OFFICER’S CERTIFICATE

 

This
Officer’s Certificate (“Certificate”) is being delivered pursuant to Section 8(d) of that certain
Purchase Agreement dated as of October 18, 2018, (“Purchase Agreement”), by and between ACTINIUM PHARMACEUTICALS,
INC., a Delaware corporation (the “Company”), and LINCOLN PARK CAPITAL FUND, LLC (the “Investor”).
Terms used herein and not otherwise defined shall have the meanings ascribed to them in the Purchase Agreement.

 

The
undersigned, ___________, ______________ of the Company, hereby certifies as follows:

 

1. I
am the _____________ of the Company and make the statements contained in this Certificate;

 

2. The
representations and warranties of the Company contained in the Purchase Agreement are true and correct in all material respects
(except to the extent that any of such representations and warranties are qualified as to materiality in the Purchase Agreement,
in which case, such representations and warranties are true and correct in all material respects as so qualified) as of the date
of the Purchase Agreement and as of the Commencement Date as though made at that time (except for representations and warranties
that speak as of a specific date, in which case such representations and warranties are true and correct in all material respects
as of such date);

 

3. The
Company has performed, satisfied and complied in all material respects with covenants, agreements and conditions required by the
Transaction Documents to be performed, satisfied or complied with by the Company at or prior to the Commencement Date, to the
extent not otherwise waived.

 

 4. The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to any Bankruptcy Law nor does the Company or any of its Subsidiaries have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy or insolvency proceedings. The Company is financially solvent and is generally able to pay its debts as they become due.

 

IN
WITNESS WHEREOF, I have hereunder signed my name on this ___ day of ___________.

 

		 
	 	Name:
	 	Title:

 

The
undersigned as Secretary of ACTINIUM PHARMACEUTICALS, INC., a Delaware corporation, hereby certifies that ___________ is
the duly elected, appointed, qualified and acting ________ of _________ and that the signature appearing above is a genuine signature.

 

		 
	 	Secretary

 

     

    

    

 

EXHIBIT
B

 

FORM
OF SECRETARY’S CERTIFICATE

 

This
Secretary’s Certificate (“Certificate”) is being delivered pursuant to Section 8(j) of that certain Purchase
Agreement dated as of October 18, 2018 (the “Purchase Agreement”), by and between ACTINIUM PHARMACEUTICALS, INC.,
a Delaware corporation (the “Company”) and LINCOLN PARK CAPITAL FUND, LLC (the “Investor”).
Terms used herein and not otherwise defined shall have the meanings ascribed to them in the Purchase Agreement.

 

The
undersigned, ____________, Secretary of the Company, hereby certifies as follows:

 

1. I
am the Secretary of the Company and make the statements contained in this Secretary’s Certificate.

 

2. Attached
hereto as Exhibit A are true, correct and complete copies of the Company’s Certificate of Incorporation and Bylaws,
as amended through the date hereof, and no action has been taken by the Company, its directors, officers or shareholders, in contemplation
of the filing of any further amendment relating to or affecting such documents.

 

3. Attached
hereto as Exhibit B are true, correct and complete copies of the resolutions either duly adopted by the Board of Directors
of the Company on _____________, at which a quorum was present and acting throughout, or executed by all directors in accordance
with Delaware General Corporations Law. Such resolutions have not been amended, modified or rescinded and remain in full force
and effect and such resolutions are the only resolutions adopted by the Company’s Board of Directors, or any committee thereof,
or the shareholders of the Company relating to or affecting (i) the entering into and performance of the Purchase Agreement, or
the issuance, offering and sale of the Purchase Shares and the Commitment Shares and (ii) and the performance of the Company of
its obligation under the Transaction Documents as contemplated therein.

 

4. As
of the date hereof, the authorized, issued and reserved capital stock of the Company is as set forth on Exhibit C hereto.

 

IN
WITNESS WHEREOF, I have hereunder signed my name on this ___ day of October 2018____________.

 

		 
	 	Secretary

 

The
undersigned as Secretary of ACTINIUM PHARMACEUTICALS, INC., a Delaware corporation, hereby certifies that ___________ is
the duly elected, appointed, qualified and acting ________ of _________ and that the signature appearing above is a genuine signature.

 

		 

 

     

    

    

 

EXHIBIT
C

 

Information
About The Investor Furnished To The Company By The Investor

Expressly
For Use In Connection With Prospectuses

 

Information
With Respect to Lincoln Park Capital

 

Immediately
prior to the date of the Purchase Agreement, Lincoln Park Capital Fund, LLC, beneficially owned 164,835 shares of Common Stock.
Josh Scheinfeld and Jonathan Cope, the Managing Members of Lincoln Park Capital, LLC, the manager of Lincoln Park Capital Fund,
LLC, are deemed to be beneficial owners of all of the Common Stock owned by Lincoln Park Capital Fund, LLC. Messrs. Cope and Scheinfeld
have shared voting and investment power over the shares being offered under the prospectus supplement filed with the SEC in connection
with the transactions contemplated under the Purchase Agreement. Lincoln Park Capital, LLC is not a licensed broker dealer or
an affiliate of a licensed broker dealer.

 

     

    

    

 

FORM
OF COMPANY U.S. COUNSEL OPINIONS

 

Capitalized
terms used herein but not defined herein, have the meaning set forth in the Purchase Agreement. Based on the foregoing, and subject
to the assumptions, exceptions and qualifications set forth herein, we are of the opinion that:

 

1. The
Company is a corporation existing and in good standing under the laws of the State of Delaware.  The Company is qualified
to do business as a foreign corporation and is in good standing in the State of New York.

 

2. The
Company has the corporate power to execute and deliver, and perform its obligations under, the Purchase Agreement.  The Company
has the corporate power to conduct its business as, to the best of our knowledge, it is now conducted, and to own and use the
properties owned and used by it.

 

3. The
execution, delivery and performance by the Company of the Transaction Documents have been duly authorized by all necessary corporate
action on the part of the Company.  The execution and delivery of the Transaction Documents by the Company, the performance
of the obligations of the Company thereunder and the consummation by it of the transactions contemplated therein have been duly
authorized and approved by the Company's Board of Directors and no further consent, approval or authorization of the Company,
its Board of Directors or its stockholders is required.  The Transaction Documents have been duly executed and delivered
by the Company and are the valid and binding obligation of the Company, enforceable against the Company in accordance with their
terms except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting creditor’s rights and remedies.

 

4. The
execution, delivery and performance by the Company of the Purchase Agreement, the consummation by the Company of the transactions
contemplated thereby including the offering, sale and issuance of the Commitment Shares and the Purchase Shares in accordance
with the terms and conditions of the Purchase Agreement, and fulfillment and compliance with terms of the Purchase Agreement,
does not and shall not: (i) conflict with, constitute a breach of or default (or an event which, with the giving of notice
or lapse of time or both, constitutes or could constitute a breach or a default), under (a) the Certificate of Incorporation or
the Bylaws of the Company, (b) any material agreement, note, lease, mortgage, deed or other material instrument to which the Company
is a party or by which the Company or any of its assets are bound (“Material Agreements”), (ii) result
in any violation of any statute, law, rule or regulation applicable to the Company, or (iii) violate any order, writ, injunction
or decree applicable to the Company or any of its subsidiaries.

 

5. Other
than that which has been obtained and completed prior to the date hereof, no authorization, approval, consent, filing or other
order of any federal or state governmental body, regulatory agency, or stock exchange or market, or any court, or, to our knowledge,
any third party is required to be obtained by the Company to enter into and perform its obligations under the Transaction Documents
or for the Company to issue and sell the Commitment Shares and the Purchase Shares as contemplated by the Purchase Agreement.

 

6. The
Common Stock is registered pursuant to Section 12(b) of the Exchange Act.  To our knowledge, since one year preceding the
date of the Purchase Agreement, the Company has been in compliance with the reporting requirements of the Exchange Act applicable
to it.  To our knowledge, since one year preceding the date of the Purchase Agreement, the Company has not received any written
notice from any Person stating that the Company has not been in compliance with any of the rules and regulations (including the
requirements for continued listing) of the Principal Market.

 

     

    

    

 

7. Any
required filing of the Prospectus Supplement pursuant to Rule 424(b) under the Securities Act has been made in the manner and
within the time period required by such Rule.

 

8. The
statements in the Base Prospectus under the caption “Description of Capital Stock” and the statements in the Registration
Statement under Part II, Item 15, insofar as such statements contain descriptions of laws, rules or regulations, and insofar as
they describe the terms of agreements or the Company’s Certificate of Incorporation or Bylaws, are correct in all material
respects.

 

9. The
Company is not, and after giving effect to the issuance of the Commitment Shares and the Purchase Shares and the application of
the proceeds as described in the Base Prospectus and Prospectus Supplement, will not be, an “investment company,”
as that term is defined in the Investment Company Act of 1940, as amended.

 

10. No
consent, approval, authorization, filing with or order of any U.S. federal or State of Delaware court or governmental agency or
body is required in connection with the completion by the Company of the transactions contemplated by the Purchase Agreement,
except such as have been obtained under the Securities Act and such as may be required under the blue sky laws of any jurisdiction,
the rules of the Principal Market or the rules of FINRA in connection with the distribution of the Common Stock by the Investor
in the manner contemplated in the Purchase Agreement and the Initial Prospectus Supplement and such other approvals as have been
obtained.

 

11. Except
as described in the Registration Statement, the Base Prospectus and the Prospectus Supplement, none of the Material Agreements
grants to any person the right to require the Company to file a registration statement under the Securities Act with respect to
any securities of the Company owned or to be owned by such person or to require the Company to include such securities in the
securities registered pursuant to the Registration Statement or in any securities being registered pursuant to any other registration
statement filed by the Company under the Securities Act.

 

12. To
our knowledge, no holders of securities of the Company have rights to the registration of such securities under the Registration
Statement.

 

[THE
FOLLOWING MAY BE MADE IN A SEPARATE NEGATIVE ASSURANCES LETTER]

 

In
the course of acting as counsel for the Company in connection with the preparation of the Registration Statement, including the
Base Prospectus, and the Prospectus Supplement, we have participated in conferences with senior management and other representatives
of the Company, your representatives and counsel and representatives of the registered independent public accounting firm of the
Company, during which the contents of the Registration Statement, including the Base Prospectus, and the Prospectus Supplement
were discussed.

 

     

    

    

  

Subject
to the foregoing, we confirm to you, on the basis of the information we gained in the course of performing the services referred
to above, that (a) the Registration Statement, at the time it initially became effective, and the Prospectus, as of its date and
as of the date hereof (except in each case as to the financial statements, schedules and other financial and accounting data,
as to which we make no comment), appeared or appears on its face to be appropriately responsive in all material respects to the
applicable requirements of the Securities Act and Form S-3, and (b) each of the documents incorporated by reference in the Registration
Statement and the Prospectus (except as to the financial statements, schedules and other financial and accounting data, as to
which we make no comment), at the time such document was filed with the SEC, appeared on its face to be appropriately responsive
in all material respects to the applicable requirements of the Exchange Act.  Furthermore, subject to the foregoing, nothing
came to our attention that caused us to believe that (i) the Registration Statement, as of its most recent effective date, contained
an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make
the statements therein not misleading; or (ii) the Prospectus, as of its date and as of the date hereof, contained or contains
any untrue statement of a material fact or omitted or omits to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; provided, however, that we do not
express any belief with respect to the financial statements, schedules, notes, other financial and accounting information derived
therefrom, contained in the Registration Statement or the Prospectus, as the case may be, at the respective times as of which
the advisements set forth in this paragraph are provided.

 

 We
inform you that the Registration Statement became effective under the Securities Act on October 12, 2017 and that no stop order
suspending the effectiveness of the Registration Statement has been issued under the Securities Act.

 

We
are not representing the Company in any pending litigation in which it is a named defendant that challenges the validity or enforceability
of, or seeks to enjoin the performance of, the Purchase Agreement or any of the other Transaction Documents.

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