Document:

NextPlay Technologies, Inc. 8-K

 

Exhibit 10.2

 

 

NextPlay
Technologies, Inc. (f/k/a Monaker Group, Inc.)

 

Promissory
Note

 

	Exchange Date: September 22, 2021	Original Principal Amount: 

U.S. $900,000

 

FOR VALUE RECEIVED,
NextPlay Technologies, Inc. (f/k/a Monaker Group, Inc.), a Nevada corporation (the “Company”), hereby promises to pay
to the order of Hudson Bay Master Fund Ltd., or its registered assigns (“Holder”), the amount set forth above as the
Original Principal Amount (as reduced pursuant to the terms hereof pursuant to redemption or otherwise, the “Principal”) when
due, whether upon the Maturity Date (as defined below), or upon acceleration, redemption or otherwise (in each case in accordance with
the terms hereof) and, upon the occurrence of an Event of Default, to pay interest (“Interest”) on any outstanding
Principal at the applicable Default Rate (as defined below), as applicable, from the date set forth above as the Exchange Date (the “Exchange
Date”) until the same becomes due and payable, whether upon the Maturity Date, or upon acceleration, redemption or otherwise
(in each case in accordance with the terms hereof). This Promissory Note (including all Promissory Notes issued in exchange, transfer
or replacement hereof, this “Note”) was issued pursuant to that certain Exchange Agreement, dated September 22,
2021 (the “Exchange Agreement”), by and between the Company and the Holder, in exchange for a Warrant to Purchase Common
Stock originally issued pursuant to the Securities Purchase Agreement, dated as of September 28, 2018 (the “Subscription Date”),
by and among the Company and the investors referred to therein. The Company hereby represents, and the Holder hereby acknowledges by its
acceptance hereof, that this Note is a “security” under the Securities Act of 1933, as amended. Certain capitalized terms
used herein are defined in Section 24.

 

1.             PAYMENTS OF PRINCIPAL. On each of October 22, 2021, November 22, 2021 and December 22, 2021, the Company shall pay $225,000
of the Outstanding Amount of this Note to the Holder in cash. On the Maturity Date, the Company shall pay to the Holder an amount in cash
representing all remaining outstanding Principal, accrued and unpaid Interest and accrued and unpaid Late Charges (as defined in Section
17(c)) on such Principal and Interest. The Company may prepay all or any portion of the outstanding Principal, accrued and unpaid
Interest or accrued and unpaid Late Charges on Principal and Interest, if any, at any time provided that it provides the Holder at least
5 days prior written notice of such planned prepayment.

 

2.             DEFAULT INTEREST; DEFAULT RATE.

 

(a)           No Interest shall accrue hereunder unless and until an Event of Default (as defined below) has occurred. From and after the
occurrence and during the continuance of any Event of Default, Interest shall accrue hereunder at eighteen percent (18.0%) per annum
(the “Default Rate”) and shall be computed on the basis of a 360-day year and twelve 30-day months, shall compound
each calendar month and shall be payable in arrears on the first Business Day of each such calendar month in which Interest accrues hereunder
(each, an “Interest Date”). Accrued and unpaid Interest, if any, shall also be payable by way of inclusion of such
Interest in the Outstanding Amount (as defined below) upon any redemption in accordance with Section 6 or any required payment upon
any Bankruptcy Event of Default (as defined in Section 3(a) below). In the event that such Event of Default is subsequently cured (and
no other Event of Default then exists (including, without limitation, for the Company’s failure to pay such Interest at the Default
Rate on the applicable Interest Date)), Interest shall cease to accrue hereunder as of the calendar day immediately following the date
of such cure; provided that the Interest as calculated and unpaid during the continuance of such Event of Default shall continue to apply
to the extent relating to the days after the occurrence of such Event of Default through and including the date of such cure of such Event
of Default.

 

     

     

    

 

3.             RIGHTS UPON EVENT OF DEFAULT.

 

(a)           Event of Default. Each of the following events shall constitute an “Event of Default” and each of the
events in clauses (iii), (iv) and (v) shall constitute a “Bankruptcy Event of Default”:

 

(i)           the Company’s or any Subsidiary’s failure to pay to the Holder any amount of Principal, Interest, Late Charges or other
amounts when and as due under this Note (including, without limitation, the Company’s or any Subsidiary’s failure to pay any
redemption payments or amounts hereunder) or any other Transaction Document (as defined in the Securities Purchase Agreement) or
any other agreement, document, certificate or other instrument delivered in connection with the transactions contemplated hereby and thereby,
except, in the case of a failure to pay Interest and Late Charges when and as due, in which case only if such failure remains uncured
for a period of at least two (2) Business Days;

 

(ii)          the occurrence of any default under, redemption of or acceleration prior to maturity of at least an aggregate of $250,000 of Indebtedness
(as defined in the Securities Purchase Agreement) of the Company or any of its Subsidiaries;

 

(iii)         bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for the relief of debtors shall be instituted
by or against the Company or any Subsidiary and, if instituted against the Company or any Subsidiary by a third party, shall not be dismissed
within ninety (90) days of their initiation;

 

(iv)         the commencement by the Company or any Subsidiary of a voluntary case or proceeding under any applicable federal, state or foreign
bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent,
or the consent by it to the entry of a decree, order, judgment or other similar document in respect of the Company or any Subsidiary in
an involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization or other similar
law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer
or consent seeking reorganization or relief under any applicable federal, state or foreign law, or the consent by it to the filing of
such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other
similar official of the Company or any Subsidiary or of any substantial part of its property, or the making by it of an assignment for
the benefit of creditors, or the execution of a composition of debts, or the occurrence of any other similar federal, state or foreign
proceeding, or the admission by it in writing of its inability to pay its debts generally as they become due, the taking of corporate
action by the Company or any Subsidiary in furtherance of any such action or the taking of any action by any Person to commence a Uniform
Commercial Code foreclosure sale or any other similar action under federal, state or foreign law;

 

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(v)          the entry by a court of (i) a decree, order, judgment or other similar document in respect of the Company or any Subsidiary
of a voluntary or involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization
or other similar law or (ii) a decree, order, judgment or other similar document adjudging the Company or any Subsidiary as bankrupt
or insolvent, or approving as properly filed a petition seeking liquidation, reorganization, arrangement, adjustment or composition of
or in respect of the Company or any Subsidiary under any applicable federal, state or foreign law or (iii) a decree, order, judgment
or other similar document appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the
Company or any Subsidiary or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree, order, judgment or other similar document or any such other decree, order, judgment or other similar document
unstayed and in effect for a period of thirty (30) consecutive days;

 

(vi)         a final judgment or judgments for the payment of money aggregating in excess of $250,00 are rendered against the Company and/or
any of its Subsidiaries and which judgments are not, within thirty (30) days after the entry thereof, bonded, discharged, settled
or stayed pending appeal, or are not discharged within thirty (30) days after the expiration of such stay; provided, however, any
judgment which is covered by insurance or an indemnity from a credit worthy party shall not be included in calculating the $250,000 amount
set forth above so long as the Company provides the Holder a written statement from such insurer or indemnity provider (which written
statement shall be reasonably satisfactory to the Holder) to the effect that such judgment is covered by insurance or an indemnity
and the Company or such Subsidiary (as the case may be) will receive the proceeds of such insurance or indemnity within thirty (30) days
of the issuance of such judgment;

 

(vii)        the Company and/or any Subsidiary, individually or in the aggregate, either (i) fails to pay, when due, or within any applicable
grace period, any payment with respect to any Indebtedness (as defined in the Securities Purchase Agreement) in excess of $250,000
due to any third party (other than, with respect to unsecured Indebtedness only, payments contested by the Company and/or such Subsidiary
(as the case may be) in good faith by proper proceedings and with respect to which adequate reserves have been set aside for the
payment thereof in accordance with GAAP) or is otherwise in breach or violation of any agreement for monies owed or owing in an amount
in excess of $250,000, which breach or violation permits the other party thereto to declare a default or otherwise accelerate amounts
due thereunder, or (ii) suffer to exist any other circumstance or event that would, with or without the passage of time or the giving
of notice, result in a default or event of default under any agreement binding the Company or any Subsidiary, which default or event of
default would or is likely to have a material adverse effect on the business, assets, operations (including results thereof), liabilities,
properties, condition (including financial condition) or prospects of the Company or any of its Subsidiaries, individually or in
the aggregate;

 

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(viii)       other than as specifically set forth in another clause of this Section 3(a), the Company or any Subsidiary breaches any representation
or warranty, or any covenant or other term or condition of any Transaction Document, except, in the case of a breach of a covenant or
other term or condition that is curable, only if such breach remains uncured for a period of two (2) consecutive Business Days;

 

(ix)          any breach or failure in any respect by the Company or any Subsidiary to comply with any provision of Section 8 of this Note;

 

(x)           any Material Adverse Effect (as defined in the Securities Purchase Agreement) occurs; or

 

(xi)          any Change of Control occurs.

 

(b)           Notice of an Event of Default; Redemption Right. Upon the occurrence of an Event of Default with respect to this Note, the
Company shall within two (2) Business Days deliver written notice thereof via facsimile or electronic mail and overnight courier
(with next day delivery specified) (an “Event of Default Notice”) to the Holder. At any time after the earlier
of the Holder’s receipt of an Event of Default Notice and the Holder becoming aware of an Event of Default, the Holder may require
the Company to redeem (regardless of whether such Event of Default has been cured) all or any portion of this Note by delivering
written notice thereof (the “Event of Default Redemption Notice”) to the Company, which Event of Default Redemption
Notice shall indicate the portion of this Note the Holder is electing to redeem. Each portion of this Note subject to redemption by the
Company pursuant to this Section 3(b) shall be redeemed by the Company at a price in cash equal to the product of (A) the Outstanding
Amount to be redeemed multiplied by (B) the Redemption Premium (the “Event of Default Redemption Price”). Redemptions
required by this Section 3(b) shall be made in accordance with the provisions of Section 6. To the extent redemptions required by this
Section 3(b) are deemed or determined by a court of competent jurisdiction to be prepayments of this Note by the Company, such redemptions
shall be deemed to be voluntary prepayments. In the event of the Company’s redemption of any portion of this Note under this Section
3(b), the Holder’s damages would be uncertain and difficult to estimate because of the parties’ inability to predict future
interest rates and the uncertainty of the availability of a suitable substitute investment opportunity for the Holder. Accordingly, any
redemption premium due under this Section 3(b) is intended by the parties to be, and shall be deemed, a reasonable estimate of the Holder’s
actual loss of its investment opportunity and not as a penalty. Any redemption upon an Event of Default shall not constitute an election
of remedies by the Holder, and all other rights and remedies of the Holder shall be preserved.

 

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(c)           Mandatory Redemption upon Bankruptcy Event of Default. Notwithstanding anything to the contrary herein, upon any Bankruptcy
Event of Default, whether occurring prior to or following the Maturity Date, the Company shall immediately pay to the Holder an amount
in cash representing (i) all outstanding Principal, accrued and unpaid Interest and accrued and unpaid Late Charges on such Principal
and Interest, multiplied by (ii) the Redemption Premium, in addition to any and all other amounts due hereunder, without the requirement
for any notice or demand or other action by the Holder or any other person or entity, provided that the Holder may, in its sole discretion,
waive such right to receive payment upon a Bankruptcy Event of Default, in whole or in part, and any such waiver shall not affect any
other rights of the Holder hereunder, including any other rights in respect of such Bankruptcy Event of Default, and any right to payment
of the Event of Default Redemption Price or any other Redemption Price, as applicable.

 

4.             RIGHTS UPON FUNDAMENTAL TRANSACTION.

 

(a)           Assumption. The Company shall not enter into or be party to a Fundamental Transaction unless the Successor Entity assumes
in writing all of the obligations of the Company under this Note and the other Transaction Documents in accordance with the provisions
of this Section 4(a) pursuant to written agreements in form and substance satisfactory to the Required Holders (as defined in the Securities
Purchase Agreement) and approved by the Required Holders prior to such Fundamental Transaction, including agreements to deliver to
each holder of Notes in exchange for such Notes a security of the Successor Entity evidenced by a written instrument substantially similar
in form and substance to the Notes, including, without limitation, having a principal amount and interest rate equal to the principal
amounts then outstanding and the interest rates of the Notes held by such holder, having similar ranking and security to the Notes, and
satisfactory to the Required Holders. Upon the occurrence of any Fundamental Transaction, the Successor Entity shall succeed to, and be
substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Note and the other Transaction
Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power
of the Company and shall assume all of the obligations of the Company under this Note and the other Transaction Documents with the same
effect as if such Successor Entity had been named as the Company herein. The provisions of this Section 4 shall apply similarly and equally
to successive Fundamental Transactions.

 

5.             NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of its articles of incorporation,
bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of
securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, and
will at all times in good faith carry out all of the provisions of this Note and take all action as may be required to protect the rights
of the Holder of this Note.

 

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6.             REDEMPTIONS.

 

(a)           Mechanics. The Company shall deliver the applicable Event of Default Redemption Price to the Holder in cash within five
(5) Business Days after the Company’s receipt of the Holder’s Event of Default Redemption Notice. Notwithstanding anything
herein to the contrary, in connection with any redemption hereunder at a time the Holder is entitled to receive a cash payment under any
of the other Transaction Documents, at the option of the Holder delivered in writing to the Company, the applicable Redemption Price hereunder
shall be increased by the amount of such cash payment owed to the Holder under such other Transaction Document and, upon payment in full
in accordance herewith, shall satisfy the Company’s payment obligation under such other Transaction Document. In the event of a
redemption of less than all of the Outstanding Amount of this Note, at the request of the Holder, and upon surrender of this Note to the
Company by the Holder, the Company shall promptly cause to be issued and delivered to the Holder a new Note (in accordance with Section
11(d)) representing the outstanding Principal which has not been redeemed. In the event that the Company does not pay the applicable
Redemption Price to the Holder within the time period required, at any time thereafter and until the Company pays such unpaid Redemption
Price in full, the Holder shall have the option, in lieu of redemption, to require the Company to promptly return to the Holder all or
any portion of this Note representing the Outstanding Amount that was submitted for redemption and for which the applicable Redemption
Price (together with any Late Charges thereon) has not been paid. Upon the Company’s receipt of such notice, (x) the applicable
Redemption Notice shall be null and void with respect to such Outstanding Amount, and (y) the Company shall immediately return this
Note, or issue a new Note (in accordance with Section 11(d)), to the Holder, and in each case the principal amount of this Note or
such new Note (as the case may be) shall be increased by an amount equal to the difference between (1) the applicable Redemption
Price (as the case may be, and as adjusted pursuant to this Section 6, if applicable) minus (2) the Principal portion of the
Outstanding Amount submitted for redemption. The Holder’s delivery of a notice voiding a Redemption Notice and exercise of its rights
following such notice shall not affect the Company’s obligations to make any payments of Late Charges which have accrued prior to
the date of such notice with respect to the Outstanding Amount subject to such notice.

 

7.             VOTING RIGHTS. The Holder shall have no voting rights as the holder of this Note, except as required by law and as expressly
provided in this Note.

 

8.             COVENANTS. Until this Note has been redeemed or otherwise satisfied in accordance with its terms:

 

(a)           Restricted Payments. The Company shall not, and the Company shall cause each of its Subsidiaries to not, directly or indirectly,
except in connection with the Excepted Payments, redeem, defease, repurchase, repay or make any payments in respect of, by the payment
of cash or cash equivalents (in whole or in part, whether by way of open market purchases, tender offers, private transactions or otherwise),
all or any portion of any Indebtedness (other than the Notes) whether by way of payment in respect of principal of (or premium, if
any) or interest on, such Indebtedness if at the time such payment is due or is otherwise made or, after giving effect to such payment,
(i) an event constituting an Event of Default has occurred and is continuing or (ii) an event that with the passage of time
and without being cured would constitute an Event of Default has occurred and is continuing.

 

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(b)           Preservation of Existence, Etc. The Company shall maintain and preserve, and cause each of its Subsidiaries to maintain
and preserve, its existence, rights and privileges, and become or remain, and cause each of its Subsidiaries to become or remain, duly
qualified and in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction
of its business makes such qualification necessary, except in each case where the failure to be so qualified could not be reasonably expected
to have a Material Adverse Effect.

 

(c)           Independent Investigation. At the request of the Holder either (x) at any time when an Event of Default has occurred
and is continuing, (y) upon the occurrence of an event that with the passage of time or giving of notice would constitute an Event
of Default or (z) at any time the Holder reasonably believes an Event of Default may have occurred or be continuing, and has provided
notice to the Company of such belief, the Company shall hire an independent, reputable investment bank selected by the Company and approved
by the Holder to investigate as to whether any breach of this Note has occurred (the “Independent Investigator”). If
the Independent Investigator determines that such breach of this Note has occurred, the Independent Investigator shall notify the Company
of such breach and the Company shall deliver written notice to each holder of a Note of such breach. In connection with such investigation,
the Independent Investigator may, during normal business hours and upon reasonable notice, inspect all contracts, books, records, personnel,
offices and other facilities and properties of the Company and its Subsidiaries and, to the extent available to the Company after the
Company uses reasonable efforts to obtain them, the records of its legal advisors and accountants (including the accountants’ work
papers) and any books of account, records, reports and other papers not contractually required of the Company to be confidential
or secret, or subject to attorney-client or other evidentiary privilege, and the Independent Investigator may make such copies and inspections
thereof as the Independent Investigator may reasonably request. The Company shall furnish the Independent Investigator with such financial
and operating data and other information with respect to the business and properties of the Company as the Independent Investigator may
reasonably request. The Company shall permit the Independent Investigator to discuss the affairs, finances and accounts of the Company
with, and to make proposals and furnish advice with respect thereto to, the Company’s officers, directors, key employees and independent
public accountants or any of them (and by this provision the Company authorizes said accountants to discuss with such Independent Investigator
the finances and affairs of the Company and any Subsidiaries), all at such reasonable times, upon reasonable notice, and as often as may
be reasonably requested.

 

9.             AMENDING THE TERMS OF THIS NOTE. The prior written consent of the Holder shall be required for any change, waiver or amendment
to this Note.

 

10.           TRANSFER. This Note may be offered, sold, assigned or transferred by the Holder without the consent of the Company.

 

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11.           REISSUANCE OF THIS NOTE.

 

(a)           Transfer. If this Note is to be transferred, the Holder shall surrender this Note to the Company, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Note (in accordance with Section 11(d)), registered as the Holder
may request, representing the outstanding Principal being transferred by the Holder and, if less than the entire outstanding Principal
is being transferred, a new Note (in accordance with Section 11(d)) to the Holder representing the outstanding Principal not being
transferred. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that, following redemption of any portion
of this Note, the outstanding Principal represented by this Note may be less than the Principal stated on the face of this Note.

 

(b)           Lost, Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Note (as to which a written certification and the indemnification contemplated below shall suffice
as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company in
customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company shall execute
and deliver to the Holder a new Note (in accordance with Section 11(d)) representing the outstanding Principal.

 

(c)           Note Exchangeable for Different Denominations. This Note is exchangeable, upon the surrender hereof by the Holder at the
principal office of the Company, for a new Note or Notes (in accordance with Section 11(d) and in principal amounts of at least $1,000) representing
in the aggregate the outstanding Principal of this Note, and each such new Note will represent such portion of such outstanding Principal
as is designated by the Holder at the time of such surrender.

 

(d)           Issuance of New Notes. Whenever the Company is required to issue a new Note pursuant to the terms of this Note, such new
Note (i) shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal
remaining outstanding (or in the case of a new Note being issued pursuant to Section 11(a) or Section 11(c), the Principal designated
by the Holder which, when added to the principal represented by the other new Notes issued in connection with such issuance, does not
exceed the Principal remaining outstanding under this Note immediately prior to such issuance of new Notes), (iii) shall have an
issuance date, as indicated on the face of such new Note, which is the same as the Exchange Date of this Note, (iv) shall have the
same rights and conditions as this Note, and (v) shall represent accrued and unpaid Interest and Late Charges on the Principal and
Interest of this Note, from the Exchange Date.

 

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12.           REMEDIES, CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Note shall
be cumulative and in addition to all other remedies available under this Note and any of the other Transaction Documents at law or in
equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder’s
right to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Note. No failure on the
part of the Holder to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor
shall any single or partial exercise by the Holder of any right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. In addition, the exercise of any right or remedy of the Holder at law or equity or under
this Note or any of the documents shall not be deemed to be an election of Holder’s rights or remedies under such documents or at
law or equity. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly
provided herein. Amounts set forth or provided for herein with respect to payments, redemptions and the like (and the computation thereof) shall
be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of
the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable
harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of
any such breach or threatened breach, the Holder shall be entitled, in addition to all other available remedies, to specific performance
and/or temporary, preliminary and permanent injunctive or other equitable relief from any court of competent jurisdiction in any such
case without the necessity of proving actual damages and without posting a bond or other security. Subject to applicable restrictions
pertaining to confidentiality and applicable law, and execution of a customary non-disclosure agreement by the Holder, the Company shall
provide all information and documentation to the Holder that is reasonably requested by the Holder to enable the Holder to confirm the
Company’s compliance with the terms and conditions of this Note.

 

13.           PAYMENT OF COLLECTION, ENFORCEMENT AND OTHER COSTS. If (a) this Note is placed in the hands of an attorney for collection
or enforcement or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts due under
this Note or to enforce the provisions of this Note or (b) there occurs any bankruptcy, reorganization, receivership of the
Company or other proceedings affecting Company creditors’ rights and involving a claim under this Note, then the Company shall pay
the reasonable costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization,
receivership or other proceeding, including, without limitation, reasonable attorneys’ fees and disbursements. The Company expressly
acknowledges and agrees that no amounts due under this Note shall be affected, or limited, by the fact that the purchase price paid for
this Note was less than the original Principal amount hereof.

 

14.           CONSTRUCTION; HEADINGS. This Note shall be deemed to be jointly drafted by the Company and the initial Holder and shall
not be construed against any such Person as the drafter hereof. The headings of this Note are for convenience of reference and shall not
form part of, or affect the interpretation of, this Note. Unless the context clearly indicates otherwise, each pronoun herein shall be
deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,”
“include” and words of like import shall be construed broadly as if followed by the words “without limitation.”
The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Note instead
of just the provision in which they are found. Unless expressly indicated otherwise, all section references are to sections of this Note.
Terms used in this Note and not otherwise defined herein, but defined in the other Transaction Documents, shall have the meanings ascribed
to such terms on the Closing Date in such other Transaction Documents, except as amended by the Exchange Agreement, and unless otherwise
consented to in writing by the Holder.

 

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15.           FAILURE OR INDULGENCE NOT WAIVER. No failure or delay on the part of the Holder 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. No waiver shall be effective unless it is in writing and signed
by an authorized representative of the waiving party.

 

16.           DISPUTE RESOLUTION.

 

(a)           Submission to Dispute Resolution.

 

(i)            In the case of a dispute relating to a fair market value or the arithmetic calculation of the applicable Redemption Price (as the
case may be) (including, without limitation, a dispute relating to the determination of any of the foregoing), the Company or the
Holder (as the case may be) shall submit the dispute to the other party via facsimile or electronic mail (A) if by the Company,
within two (2) Business Days after the occurrence of the circumstances giving rise to such dispute or (B) if by the Holder at
any time after the Holder learned of the circumstances giving rise to such dispute. If the Holder and the Company are unable to promptly
resolve such dispute relating to such fair market value, or the arithmetic calculation of such applicable Redemption Price (as the case
may be), at any time after the second (2nd) Business Day following such initial notice by the Company or the Holder (as
the case may be) of such dispute to the Company or the Holder (as the case may be), then the Holder may, at its sole option, select
an independent, reputable investment bank to resolve such dispute.

 

(ii)           The Holder and the Company shall each deliver to such investment bank (A) a copy of the initial dispute submission so delivered
in accordance with the first sentence of this Section 16 and (B) written documentation supporting its position with respect to such
dispute, in each case, no later than 5:00 p.m. (New York time) by the fifth (5th) Business Day immediately following
the date on which the Holder selected such investment bank (the “Dispute Submission Deadline”) (the documents
referred to in the immediately preceding clauses (A) and (B) are collectively referred to herein as the “Required Dispute
Documentation”) (it being understood and agreed that if either the Holder or the Company fails to so deliver all of the
Required Dispute Documentation by the Dispute Submission Deadline, then the party who fails to so submit all of the Required Dispute Documentation
shall no longer be entitled to (and hereby waives its right to) deliver or submit any written documentation or other support to such
investment bank with respect to such dispute and such investment bank shall resolve such dispute based solely on the Required Dispute
Documentation that was delivered to such investment bank prior to the Dispute Submission Deadline). Unless otherwise agreed to in writing
by both the Company and the Holder or otherwise requested by such investment bank, neither the Company nor the Holder shall be entitled
to deliver or submit any written documentation or other support to such investment bank in connection with such dispute (other than the
Required Dispute Documentation).

 

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(iii)         The Company and the Holder shall cause such investment bank to determine the resolution of such dispute and notify the Company
and the Holder of such resolution no later than ten (10) Business Days immediately following the Dispute Submission Deadline. The
fees and expenses of such investment bank shall be borne solely by the Company, and such investment bank’s resolution of such dispute
shall be final and binding upon all parties absent manifest error.

 

(b)           Miscellaneous. The Company expressly acknowledges and agrees that (i) this Section 16 constitutes an agreement to arbitrate
between the Company and the Holder (and constitutes an arbitration agreement) under § 7501, et seq. of the New York Civil Practice
Law and Rules (“CPLR”) and that the Holder is authorized to apply for an order to compel arbitration pursuant
to CPLR § 7503(a) in order to compel compliance with this Section 16, (ii) the terms of this Note and each other applicable
Transaction Document shall serve as the basis for the selected investment bank’s resolution of the applicable dispute, such investment
bank shall be entitled (and is hereby expressly authorized) to make all findings, determinations and the like that such investment
bank determines are required to be made by such investment bank in connection with its resolution of such dispute and in resolving such
dispute such investment bank shall apply such findings, determinations and the like to the terms of this Note and any other applicable
Transaction Documents, (iii) the Holder (and only the Holder), in its sole discretion, shall have the right to submit any dispute
described in this Section 16 to any state or federal court sitting in The City of New York, Borough of Manhattan in lieu of utilizing
the procedures set forth in this Section 16 and (iv) nothing in this Section 16 shall limit the Holder from obtaining any injunctive
relief or other equitable remedies (including, without limitation, with respect to any matters described in this Section 16).

 

17.           NOTICES; CURRENCY; PAYMENTS.

 

(a)           Notices. Whenever notice is required to be given under this Note, unless otherwise provided herein, such notice shall be
given in accordance with Section 13(d) of the Exchange Agreement. The Company shall provide the Holder with prompt written notice
of all actions taken pursuant to this Note, including in reasonable detail a description of such action and the reason therefore.

 

(b)           Currency. All dollar amounts referred to in this Note are in United States Dollars (“U.S. Dollars”),
and all amounts owing under this Note shall be paid in U.S. Dollars. All amounts denominated in other currencies (if any) shall be
converted into the U.S. Dollar equivalent amount in accordance with the Exchange Rate on the date of calculation. “Exchange Rate”
means, in relation to any amount of currency to be converted into U.S. Dollars pursuant to this Note, the U.S. Dollar exchange rate as
published in the Wall Street Journal on the relevant date of calculation (it being understood and agreed that where an amount is calculated
with reference to, or over, a period of time, the date of calculation shall be the final date of such period of time).

 

    11 

     

    

 

(c)           Payments. Whenever any payment of cash is to be made by the Company to any Person pursuant to this Note, unless otherwise
expressly set forth herein, such payment shall be made in lawful money of the United States of America by a certified check drawn on the
account of the Company and sent via overnight courier service to such Person at such address as previously provided to the Company in
writing (which address shall initially be as set forth in the Exchange Agreement), provided that the Holder may elect to receive a payment
of cash via wire transfer of immediately available funds by providing the Company with prior written notice setting out such request and
the Holder’s wire transfer instructions. Whenever any amount expressed to be due by the terms of this Note is due on any day which
is not a Business Day, the same shall instead be due on the next succeeding day which is a Business Day. Any amount of Principal or other
amounts due under the Transaction Documents which is not paid when due (except to the extent such amount is simultaneously accruing Interest
at the Default Rate hereunder) shall result in a late charge being incurred and payable by the Company in an amount equal to interest
on such amount at the rate of eighteen percent (18%) per annum from the date such amount was due until the same is paid in full (“Late
Charge”).

 

18.           CANCELLATION. After all Principal, accrued Interest, Late Charges and other amounts at any time owed on this Note have been
paid in full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall not be
reissued.

 

19.           WAIVER OF NOTICE. To the extent permitted by law, the Company hereby irrevocably waives demand, notice, presentment, protest
and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note and the
Securities Purchase Agreement.

 

20.           GOVERNING LAW. This Note shall be construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Note shall be governed by, the internal laws of the State of New York, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that
would cause the application of the laws of any jurisdictions other than the State of New York. Except as otherwise required by Section
16 above, the Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of
New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith 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. Nothing contained herein shall be deemed to limit in any way any
right to serve process in any manner permitted by law. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Nothing contained herein (i) shall be deemed or operate to preclude the Holder from bringing
suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to the Holder,
to realize on any collateral or any other security for such obligations, or to enforce a judgment or other court ruling in favor of the
Holder or (ii) shall limit, or shall be deemed or construed to limit, any provision of Section 16. THE COMPANY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    12 

     

    

 

21.           JUDGMENT CURRENCY.

 

(a)           If for the purpose of obtaining or enforcing judgment against the Company in any court in any jurisdiction it becomes necessary
to convert into any other currency (such other currency being hereinafter in this Section 21 referred to as the “Judgment Currency”) an
amount due in U.S. dollars under this Note, the conversion shall be made at the Exchange Rate prevailing on the Business Day immediately
preceding:

 

(i)           the date actual payment of the amount due, in the case of any proceeding in the courts of New York or in the courts of any other
jurisdiction that will give effect to such conversion being made on such date: or

 

(ii)          the date on which the foreign court determines, in the case of any proceeding in the courts of any other jurisdiction (the date
as of which such conversion is made pursuant to this Section 21(a)(ii) being hereinafter referred to as the “Judgment Conversion
Date”).

 

(b)           If in the case of any proceeding in the court of any jurisdiction referred to in Section 21(a)(ii) above, there is a change in
the Exchange Rate prevailing between the Judgment Conversion Date and the date of actual payment of the amount due, the applicable party
shall pay such adjusted amount as may be necessary to ensure that the amount paid in the Judgment Currency, when converted at the Exchange
Rate prevailing on the date of payment, will produce the amount of US dollars which could have been purchased with the amount of Judgment
Currency stipulated in the judgment or judicial order at the Exchange Rate prevailing on the Judgment Conversion Date.

 

(c)           Any amount due from the Company under this provision shall be due as a separate debt and shall not be affected by judgment being
obtained for any other amounts due under or in respect of this Note.

 

22.           SEVERABILITY. If any provision of this Note is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended
to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall
not affect the validity of the remaining provisions of this Note so long as this Note as so modified continues to express, without material
change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties
or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith
negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes
as close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

23.           MAXIMUM PAYMENTS. Nothing contained herein shall be deemed to establish or require the payment of a rate of interest or
other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other
charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed
by the Company to the Holder and thus refunded to the Company.

 

    13 

     

    

 

24.           CERTAIN DEFINITIONS. For purposes of this Note, the following terms shall have the following meanings:

 

(a)           “Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled
by, or is under common control with, such Person, it being understood for purposes of this definition that “control” of a
Person means the power directly or indirectly either to vote 10% or more of the stock having ordinary voting power for the election of
directors of such Person or direct or cause the direction of the management and policies of such Person whether by contract or otherwise.

 

(b)           “Business Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City
of New York are authorized or required by law to remain closed; provided, however,
for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to “stay at home”,
“shelter-in-place”, “non-essential employee”  or any other similar orders or restrictions or the closure
of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including
for wire transfers) of commercial banks in The City of New York generally are open for use by customers on such day.

 

(c)           “Change of Control” means any Fundamental Transaction other than (i) any merger of the Company or any of
its, direct or indirect, wholly-owned Subsidiaries with or into any of the foregoing Persons, (ii) any reorganization, recapitalization
or reclassification of the shares of Common Stock (as defined in the Securities Purchase Agreement) in which holders of the Company’s
voting power immediately prior to such reorganization, recapitalization or reclassification continue after such reorganization, recapitalization
or reclassification to hold publicly traded securities and, directly or indirectly, are, in all material respects, the holders of the
voting power of the surviving entity (or entities with the authority or voting power to elect the members of the board of directors
(or their equivalent if other than a corporation) of such entity or entities) after such reorganization, recapitalization or
reclassification, or (iii) pursuant to a migratory merger effected solely for the purpose of changing the jurisdiction of incorporation
of the Company or any of its Subsidiaries.

 

(d)           “Closing Date” shall have the meaning set forth in the Securities Purchase Agreement, which date is the date
the Company initially issued Notes pursuant to the terms of the Securities Purchase Agreement.

 

(e)           “Excepted Payments” means payments to, redemptions from, and repurchases from, IDS, Inc. pursuant to those that
certain May 18, 2021 Amendment to Intellectual Property Purchase Agreement between the Company, IDS, Inc., Ari Daniels and TD Assets Holding,
LLC and/or that certain Confidential Settlement Agreement and Mutual Release dated May 18, 2021 between the Company, IDS, Inc., Ari Daniels
and TD Assets Holding, LLC, as in effect as of the date hereof and without regard to any subsequent amendment, modifications or waiver
thereof; and/or repayments of amounts owed to Streeterville Capital, LLC from time to time pursuant to agreements or instruments in effect
as of the date hereof and without regard to any subsequent amendment, modifications or waiver thereof.

 

    14 

     

    

 

(f)            “Fundamental Transaction” means (A) that the Company shall, directly or indirectly, including through subsidiaries,
Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not the Company is
the surviving corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially
all of the properties or assets of the Company or any of its “significant subsidiaries” (as defined in Rule 1-02 of Regulation
S-X) to one or more Subject Entities, or (iii) make, or allow one or more Subject Entities to make, or allow the Company to
be subject to or have its Common Stock be subject to or party to one or more Subject Entities making, a purchase, tender or exchange offer
that is accepted by the holders of at least either (x) 50% of the outstanding shares of Common Stock, (y) 50% of the outstanding
shares of Common Stock calculated as if any shares of Common Stock held by all Subject Entities making or party to, or Affiliated with
any Subject Entities making or party to, such purchase, tender or exchange offer were not outstanding; or (z) such number of shares
of Common Stock such that all Subject Entities making or party to, or Affiliated with any Subject Entity making or party to, such purchase,
tender or exchange offer, become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934 Act) of at least 50%
of the outstanding shares of Common Stock, or (iv) consummate a stock or share purchase agreement or other business combination (including,
without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with one or more Subject Entities whereby
all such Subject Entities, individually or in the aggregate, acquire, either (x) at least 50% of the outstanding shares of Common
Stock, (y) at least 50% of the outstanding shares of Common Stock calculated as if any shares of Common Stock held by all the Subject
Entities making or party to, or Affiliated with any Subject Entity making or party to, such stock purchase agreement or other business
combination were not outstanding; or (z) such number of shares of Common Stock such that the Subject Entities become collectively
the beneficial owners (as defined in Rule 13d-3 under the 1934 Act) of at least 50% of the outstanding shares of Common Stock, or
(v) reorganize, recapitalize or reclassify its Common Stock, (B) that the Company shall, directly or indirectly, including through
subsidiaries, Affiliates or otherwise, in one or more related transactions, allow any Subject Entity individually or the Subject Entities
in the aggregate to be or become the “beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly,
whether through acquisition, purchase, assignment, conveyance, tender, tender offer, exchange, reduction in outstanding shares of Common
Stock, merger, consolidation, business combination, reorganization, recapitalization, spin-off, scheme of arrangement, reorganization,
recapitalization or reclassification or otherwise in any manner whatsoever, of either (x) at least 50% of the aggregate ordinary
voting power represented by issued and outstanding Common Stock, (y) at least 50% of the aggregate ordinary voting power represented
by issued and outstanding Common Stock not held by all such Subject Entities as of the date of this Note calculated as if any shares of
Common Stock held by all such Subject Entities were not outstanding, or (z) a percentage of the aggregate ordinary voting power represented
by issued and outstanding shares of Common Stock or other equity securities of the Company sufficient to allow such Subject Entities to
effect a statutory short form merger or other transaction requiring other stockholders of the Company to surrender their shares of Common
Stock without approval of the stockholders of the Company or (C) directly or indirectly, including through subsidiaries, Affiliates
or otherwise, in one or more related transactions, the issuance of or the entering into any other instrument or transaction structured
in a manner to circumvent, or that circumvents, the intent of this definition in which case this definition shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this definition to the extent necessary to correct this definition or
any portion of this definition which may be defective or inconsistent with the intended treatment of such instrument or transaction.

 

    15 

     

    

 

(g)           “GAAP”
means United States generally accepted accounting principles, consistently applied.

 

(h)           “Group”
means a “group” as that term is used in Section 13(d) of the 1934 Act and as defined in Rule 13d-5 thereunder.

 

(i)            “Maturity
Date” shall mean January 22, 2022; provided, however, the Maturity Date may be extended at the option of the Holder (i) in
the event that, and for so long as, an Event of Default shall have occurred and be continuing or any event shall have occurred and be
continuing that with the passage of time and the failure to cure would result in an Event of Default or (ii) through the date that
is twenty (20) Business Days after the consummation of a Fundamental Transaction in the event that a Fundamental Transaction is
publicly announced or an Event of Default Redemption Notice is delivered prior to the Maturity Date.

 

(j)            “Outstanding Amount” means the sum of (A) the portion of the Principal to be redeemed or otherwise with
respect to which this determination is being made, (B) accrued and unpaid Interest with respect to such Principal and (C) accrued
and unpaid Late Charges with respect to such Principal and Interest.

 

(k)           “Parent
Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person and whose common stock or
equivalent equity security is quoted or listed on an Eligible Market (as defined in the Securities Purchase Agreement), or, if there
is more than one such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date
of consummation of the Fundamental Transaction.

 

(l)            “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or a government or any department or agency thereof.

 

(m)          “Redemption Notices” means, collectively, the Event of Default Redemption Notices, and each of the foregoing,
individually, a “Redemption Notice.”

 

(n)           “Redemption Premium” means 125%.

 

(o)           “Redemption Prices” means, collectively, Event of Default Redemption Prices and each of the foregoing, individually,
a “Redemption Price.”

 

    16 

     

    

 

(p)           “SEC”
means the United States Securities and Exchange Commission or the successor thereto.

 

(q)           “Subsidiaries” shall have the meaning as set forth in the Securities Purchase Agreement.

 

(r)            “Subject Entity” means any Person, Persons or Group or any Affiliate or associate of any such Person, Persons
or Group.

 

(s)           “Successor
Entity” means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any
Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction
shall have been entered into.

 

25.           DISCLOSURE. Upon delivery by the Company to the Holder (or receipt by the Company from the Holder) of any notice in
accordance with the terms of this Note, unless the Company has in good faith determined that the matters relating to such notice do not
constitute material, non-public information relating to the Company or any of its Subsidiaries, the Company shall on or prior to 9:00
am, New York city time on the Business Day immediately following such notice delivery date, publicly disclose such material, non-public
information on a Current Report on Form 8-K or otherwise. In the event that the Company believes that a notice contains material, non-public
information relating to the Company or any of its Subsidiaries, the Company so shall indicate to the Holder explicitly in writing in such
notice (or immediately upon receipt of notice from the Holder, as applicable), and in the absence of any such written indication in such
notice (or notification from the Company immediately upon receipt of notice from the Holder), the Holder shall be entitled to presume
that information contained in the notice does not constitute material, non-public information relating to the Company or any of its Subsidiaries.

 

26.           ABSENCE OF TRADING AND DISCLOSURE RESTRICTIONS. The Company acknowledges and agrees that the Holder is not a fiduciary or
agent of the Company and that the Holder shall have no obligation to (a) maintain the confidentiality of any information provided
by the Company or (b) refrain from trading any securities while in possession of such information in the absence of a written non-disclosure
agreement signed by an officer of the Holder that explicitly provides for such confidentiality and trading restrictions. In the absence
of such an executed, written non-disclosure agreement, the Company acknowledges that the Holder may freely trade in any securities issued
by the Company, may possess and use any information provided by the Company in connection with such trading activity, and may disclose
any such information to any third party.

 

[signature page follows]

 

    17 

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Note to be duly executed as of the Exchange Date set out above. 

 

	
    NEXTPLAY TECHNOLOGIES, INC. (F/K/A MONAKER GROUP, INC.) 

	 
	 
	By:	/s/ Bill Kerby	 
	 	Name: Bill Kerby	 
	 	Title: Co-CEOExhibit 4.1

      

      

      

      PIEDMONT LITHIUM INC.

      

      

      AND

      

      

      [      ]

      

      

      as Trustee

      

      

      Subordinated Debt Securities

      

      

      INDENTURE

      

      

      Dated as of                     , 20

      

      

      
        
          

      

      CROSS REFERENCE SHEET*

      

      

      Provisions of Sections 310 through 318(a) inclusive of the Trust Indenture Act of 1939, as amended, and the Indenture dated as of                     , 20      between Piedmont Lithium Inc. and [ ] as Trustee.

      

      

      
        	
                Section of Trust Indenture Act

              	
                Section of

                Indenture

              
	
                310(a)(1)

              	
                6.10

              
	
                310(a)(2)

              	
                6.10

              
	
                310(a)(3)

              	
                N/A

              
	
                310(a)(4)

              	
                N/A

              
	
                310(a)(5)

              	
                6.10

              
	
                310(b)

              	
                6.10

              
	
                310(c)

              	
                N/A

              
	
                311(a)

              	
                6.11

              
	
                311(b)

              	
                6.11

              
	
                311(c)

              	
                N/A

              
	
                312(a)

              	
                4.01

              
	
                312(b)

              	
                4.02(b)

              
	
                312(c)

              	
                4.02(c)

              
	
                313(a)

              	
                6.06

              
	
                313(b)

              	
                6.06

              
	
                313(c)

              	
                6.06

              
	
                313(d)

              	
                6.06

              
	
                314(a)

              	
                3.04; 4.03

              
	
                314(b)

              	
                N/A

              
	
                314(c)(1)

              	
                2.04; 13.06

              
	
                314(c)(2)

              	
                2.04; 13.06

              
	
                314(c)(3)

              	
                N/A

              
	
                314(d)

              	
                N/A

              
	
                314(e)

              	
                13.06

              
	
                314(f)

              	
                N/A

              
	
                315(a)

              	
                6.01(b)

              
	
                315(b)

              	
                6.05

              
	
                315(c)

              	
                6.01(a)

              
	
                315(d)

              	
                6.01(c)

              
	
                315(e)

              	
                5.10

              
	
                316(a)(1)(A)

              	
                5.08

              
	
                316(a)(1)(B)

              	
                5.09

              
	
                316(a)(2)

              	
                N/A

              
	
                316(b)

              	
                5.06

              
	
                316(c)

              	
                2.07

              
	
                317(a)

              	
                5.02

              
	
                317(b)

              	
                3.02; 3.03

              
	
                318(a)

              	
                13.08

              

      

       

      

      
        	
                *

              	
                This cross reference sheet shall not, for any purpose, be deemed to be a part of the Indenture.

              

      

      

      

      Attention should also be directed to Section 318(c) of the Trust Indenture Act of 1939, as amended, which provides that the provisions of Sections 310 through 317 of such Act are a part of and govern every qualified
        indenture, whether or not physically contained therein

      

      

      
        
          

      

      
      TABLE OF CONTENTS

       

        

      	
              RECITALS

            	 	
              1

            
	 	 	 
	
              ARTICLE 1 DEFINITIONS

            	
              1

            
	 	 
	
              SECTION 1.01.

            	
              Certain Terms Defined

            	
              1

            
	 	 	 
	
              ARTICLE 2 SECURITIES

            	
              5

            
	 	 
	
              SECTION 2.01.

            	
              Forms Generally

            	
              5

            
	
              SECTION 2.02.

            	
              Form of Trustee’s Certificate of Authentication

            	
              5

            
	
              SECTION 2.03.

            	
              Amount Unlimited; Issuable in Series

            	
              5

            
	
              SECTION 2.04.

            	
              Authentication and Delivery of Securities

            	
              7

            
	
              SECTION 2.05.

            	
              Execution of Securities

            	
              7

            
	
              SECTION 2.06.

            	
              Certificate of Authentication

            	
              8

            
	
              SECTION 2.07.

            	
              Denomination and Date of Securities; Payments of Interest

            	
              8

            
	
              SECTION 2.08.

            	
              Registration, Registration of Transfer and Exchange

            	
              9

            
	
              SECTION 2.09.

            	
              Trustee’s Duties to Monitor Compliance

            	
              9

            
	
              SECTION 2.10.

            	
              Mutilated, Defaced, Destroyed, Lost and Stolen Securities

            	
              10

            
	
              SECTION 2.11.

            	
              Cancellation of Securities

            	
              10

            
	
              SECTION 2.12.

            	
              Temporary Securities

            	
              10

            
	
              SECTION 2.13.

            	
              Securities in Global Form

            	
              11

            
	
              SECTION 2.14.

            	
              CUSIP Numbers

            	
              11

            
	 	 	 
	
              ARTICLE 3 COVENANTS OF THE COMPANY

            	
              12

            
	 	 
	
              SECTION 3.01.

            	
              Payment of Principal and Interest

            	
              12

            
	
              SECTION 3.02.

            	
              Offices for Payment, Etc.

            	
              12

            
	
              SECTION 3.03.

            	
              Paying Agents

            	
              12

            
	
              SECTION 3.04.

            	
              Officers’ Certificate

            	
              12

            
	
              SECTION 3.05.

            	
              Calculation of Original Issue Discount

            	
              12

            
	 	 	 
	
              ARTICLE 4 HOLDERS’ LISTS AND REPORTS BY THE COMPANY

            	
              13

            
	 	 
	
              SECTION 4.01.

            	
              Company to Furnish Trustee Information as to Names and Addresses of Holders

            	
              13

            
	
              SECTION 4.02.

            	
              Preservation and Disclosure of Holders’ Lists

            	
              13

            
	
              SECTION 4.03.

            	
              Reports by the Company

            	
              13

            
	 	 	 
	
              ARTICLE 5 REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

            	
              14

            
	 	 
	
              SECTION 5.01.

            	
              Event of Default Defined; Acceleration of Maturity; Waiver of Default

            	
              14

            
	
              SECTION 5.02.

            	
              Collection of Indebtedness by Trustee; Trustee May Prove Debt

            	
              15

            
	
              SECTION 5.03.

            	
              Application of Proceeds

            	
              17

            
	
              SECTION 5.04.

            	
              Restoration of Rights on Abandonment of Proceedings

            	
              17

            
	
              SECTION 5.05.

            	
              Limitations on Suits by Holders

            	
              17

            
	
              SECTION 5.06.

            	
              Unconditional Right of Holders to Institute Certain Suits

            	
              17

            
	
              SECTION 5.07.

            	
              Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default

            	
              17

            
	
              SECTION 5.08.

            	
              Control by Holders

            	
              18

            
	
              SECTION 5.09.

            	
              Waiver of Past Defaults

            	
              18

            
	
              SECTION 5.10.

            	
              Right of Court to Require Filing of Undertaking to Pay Costs

            	
              18

            
	
              SECTION 5.11.

            	
              Suits for Enforcement

            	
              18

            
	 	 	 

      

      

      
        i

        
          

      

      	
              ARTICLE 6 CONCERNING THE TRUSTEE

            	
              18

            
	 	 
	
              SECTION 6.01.

            	
              Duties of Trustee

            	
              18

            
	
              SECTION 6.02.

            	
              Rights of Trustee

            	
              19

            
	
              SECTION 6.03.

            	
              Individual Rights of Trustee

            	
              20

            
	
              SECTION 6.04.

            	
              Trustee’s Disclaimer

            	
              21

            
	
              SECTION 6.05.

            	
              Notice of Defaults

            	
              21

            
	
              SECTION 6.06.

            	
              Reports by Trustee to Holders

            	
              21

            
	
              SECTION 6.07.

            	
              Compensation and Indemnity

            	
              21

            
	
              SECTION 6.08.

            	
              Replacement of Trustee

            	
              22

            
	
              SECTION 6.09.

            	
              Successor Trustee by Merger

            	
              22

            
	
              SECTION 6.10.

            	
              Eligibility; Disqualification

            	
              22

            
	
              SECTION 6.11.

            	
              Preferential Collection of Claims Against Company

            	
              22

            
	 	 	 
	
              ARTICLE 7 CONCERNING THE HOLDERS

            	
              23

            
	 	 
	
              SECTION 7.01.

            	
              Evidence of Action Taken by Holders

            	
              23

            
	
              SECTION 7.02.

            	
              Proof of Execution of Instruments

            	
              23

            
	
              SECTION 7.03.

            	
              Holders to Be Treated as Owners

            	
              23

            
	
              SECTION 7.04.

            	
              Securities Owned by Company Deemed Not Outstanding

            	
              23

            
	
              SECTION 7.05.

            	
              Right of Revocation of Action Taken

            	
              23

            
	 	 	 
	
              ARTICLE 8 SUPPLEMENTAL INDENTURES

            	
              24

            
	 	 
	
              SECTION 8.01.

            	
              Supplemental Indentures Without Consent of Holders

            	
              24

            
	
              SECTION 8.02.

            	
              Supplemental Indentures with Consent of Holders

            	
              25

            
	
              SECTION 8.03.

            	
              Effect of Supplemental Indenture

            	
              25

            
	
              SECTION 8.04.

            	
              Documents to Be Given to Trustee

            	
              26

            
	
              SECTION 8.05.

            	
              Notation on Securities in Respect of Supplemental Indentures

            	
              26

            
	 	 	 
	
              ARTICLE 9 CONSOLIDATION, MERGER, SALE OR CONVEYANCE

            	
              26

            
	 	 
	
              SECTION 9.01.

            	
              Company May Consolidate, Etc.  on Certain Terms

            	
              26

            
	
              SECTION 9.02.

            	
              Successor Corporation Substituted

            	
              26

            
	
              SECTION 9.03.

            	
              Opinion of Counsel to Trustee

            	
              27

            
	 	 	 
	
              ARTICLE 10 SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED FUNDS

            	
              27

            
	 	 
	
              SECTION 10.01.

            	
              Satisfaction and Discharge of Indenture; Defeasance

            	
              27

            
	
              SECTION 10.02.

            	
              Conditions to Defeasance

            	
              28

            
	
              SECTION 10.03.

            	
              Application of Trust Funds

            	
              28

            
	
              SECTION 10.04.

            	
              Repayment to Company

            	
              28

            
	
              SECTION 10.05.

            	
              Indemnity for Government Obligations

            	
              28

            
	
              SECTION 10.06.

            	
              Reinstatement

            	
              28

            
	 	 	 
	
              ARTICLE 11 REDEMPTION OF SECURITIES AND SINKING FUNDS

            	
              29

            
	 	 
	
              SECTION 11.01.

            	
              Applicability of Article

            	
              29

            
	
              SECTION 11.02.

            	
              Notice of Redemption; Partial Redemptions

            	
              29

            
	
              SECTION 11.03.

            	
              Payment of Securities Called for Redemption

            	
              30

            
	
              SECTION 11.04.

            	
              Exclusion of Certain Securities from Eligibility for Selection for Redemption

            	
              30

            
	
              SECTION 11.05.

            	
              Repayment at the Option of the Holders

            	
              30

            
	 	 	 

      

      

      
        ii

        
          

      

      	
              ARTICLE 12 CONVERSION OF SECURITIES

            	
              31

            
	 	 
	
              SECTION 12.01.

            	
              Applicability of Article

            	
              31

            
	
              SECTION 12.02.

            	
              Right of Holders to Convert Securities into Common Shares

            	
              31

            
	
              SECTION 12.03.

            	
              Issuance of Common Shares on Conversions

            	
              31

            
	
              SECTION 12.04.

            	
              No Payment or Adjustment for Interest or Dividends

            	
              32

            
	
              SECTION 12.05.

            	
              Adjustment of Conversion Price

            	
              32

            
	
              SECTION 12.06.

            	
              No Fractional Shares to Be Issued

            	
              34

            
	
              SECTION 12.07.

            	
              Notice to Holders of the Securities of a Series Prior to Taking Certain Types of Action

            	
              34

            
	
              SECTION 12.08.

            	
              Covenant to Reserve Shares for Issuance on Conversion of Securities

            	
              35

            
	
              SECTION 12.09.

            	
              Compliance with Governmental Requirements

            	
              35

            
	
              SECTION 12.10.

            	
              Payment of Taxes upon Certificates for Shares Issued upon Conversion

            	
              35

            
	
              SECTION 12.11.

            	
              Trustee’s Duties with Respect to Conversion Provisions

            	
              35

            
	
              SECTION 12.12.

            	
              Trustee Under No Duty to Monitor Stock Price or Calculations

            	
              36

            
	
              SECTION 12.13.

            	
              Conversion Arrangement on Call for Redemption

            	
              36

            
	 	 	 
	
              ARTICLE 13 MISCELLANEOUS PROVISIONS

            	
              36

            
	 	 
	
              SECTION 13.01.

            	
              Incorporators, Shareholders, Officers and Directors of Company Exempt from Individual Liability

            	
              36

            
	
              SECTION 13.02.

            	
              Provisions of Indenture for the Sole Benefit of Parties and Holders

            	
              36

            
	
              SECTION 13.03.

            	
              Successors and Assigns of Company Bound by Indenture

            	
              36

            
	
              SECTION 13.04.

            	
              Notices and Demands on Company, Trustee and Holders

            	
              37

            
	
              SECTION 13.05.

            	
              Electronic Transmission to the Trustee

            	
              37

            
	
              SECTION 13.06.

            	
              Officers’ Certificates and Opinions of Counsel; Statements to Be Contained Therein

            	
              37

            
	
              SECTION 13.07.

            	
              Payments Due on Saturdays, Sundays and Holidays

            	
              38

            
	
              SECTION 13.08.

            	
              Conflict of any Provision of Indenture with Trust Indenture Act

            	
              38

            
	
              SECTION 13.09.

            	
              New York Law to Govern

            	
              38

            
	
              SECTION 13.10.

            	
              Counterparts

            	
              38

            
	
              SECTION 13.11.

            	
              Effect of Headings; Gender

            	
              38

            
	
              SECTION 13.12.

            	
              Waiver of Jury Trial

            	
              38

            
	
              SECTION 13.13.

            	
              Force Majeure

            	
              38

            
	
              SECTION 13.14.

            	
              Certain Tax Information

            	
              39

            
	 	 	 
	
              ARTICLE 14 SUBORDINATION OF SECURITIES

            	
              39

            
	 	 
	
              SECTION 14.01.

            	
              Securities Subordinated to Senior Indebtedness

            	
              39

            
	
              SECTION 14.02.

            	
              Subrogation

            	
              40

            
	
              SECTION 14.03.

            	
              Obligation of the Company Unconditional

            	
              40

            
	
              SECTION 14.04.

            	
              Payments on Securities Permitted

            	
              40

            
	
              SECTION 14.05.

            	
              Effectuation of Subordination by Trustee

            	
              41

            
	
              SECTION 14.06.

            	
              Knowledge of Trustee

            	
              41

            
	
              SECTION 14.07.

            	
              Notices From Holders of Senior Indebtedness

            	
              41

            
	
              SECTION 14.08.

            	
              Trustee May Hold Senior Indebtedness

            	
              41

            
	
              SECTION 14.09.

            	
              Rights of Holders of Senior Indebtedness Not Impaired

            	
              41

            
	
              SECTION 14.10.

            	
              Default in Senior Indebtedness

            	
              42

            
	
              SECTION 14.11.

            	
              Trustee Not Fiduciary for Holders of Senior Indebtedness

            	
              42

            

      

      

      
        iii

        
          

      

      INDENTURE

      

      

      This INDENTURE (this “Indenture”), dated as of                     , 20     , is by and between PIEDMONT LITHIUM INC., a Delaware corporation (the “Company”), and [ ], a [ ], as trustee (the “Trustee”).

      

      

      RECITALS

      

      

      A.          The Company has duly authorized the issue from time to time of its debentures, notes or other evidences of indebtedness (the “Securities”) to be issued in one or more
        Series.

      

      

      B.          All things necessary to make this Indenture a valid, legally binding indenture and agreement according to its terms have been done.

      

      

      NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed for the equal and ratable benefit of the Holders from time to time of the Securities or
        of Series thereof as follows.

      

      

      ARTICLE 1

      DEFINITIONS

      

      

      SECTION 1.01.          Certain Terms Defined.  Unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, the following terms (except as
        otherwise expressly provided or unless the context otherwise clearly requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01.  All other terms (except
        as herein otherwise expressly provided or unless the context otherwise clearly requires) used in this Indenture that are defined in the Trust Indenture Act or the definitions of which in the Securities Act are referred to in the Trust Indenture
        Act, including terms defined therein by reference to the Securities Act, shall have the meanings assigned to such terms in the Trust Indenture Act and the Securities Act as in force at the date of this Indenture.  All accounting terms used herein
        and not expressly defined shall have the meanings assigned to such terms in accordance with GAAP.  The words “herein”, “hereof” and “hereunder”
        and other words of similar import refer to this Indenture as a whole, as supplemented and amended from time to time, and not to any particular Article, Section or other subdivision.  The terms defined in this Article 1 have the meanings assigned to
        them in this Article 1 and include the plural as well as the singular.

        

      

      “Board of Directors” means either the Board of Directors of the Company or any duly authorized
        committee of that Board or any duly authorized committee created by that Board.

      

      

      “Business Day”, except as may otherwise be provided in the form of Securities of any particular Series, with respect to any Place of Payment or place of publication means any
        day, other than a Saturday, Sunday or day on which banking institutions are authorized or required by law or regulation to close in that Place of Payment or place of publication.

      

      

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

      

      

      “Common Shares” means the shares of common stock, par value $0.01 per share, of the Company, collectively as they exist on the date of this Indenture, or any other shares of the
        Company into which such shares shall be reclassified or changed.

      

      

      “Company” means the Person identified as the “Company” in the first paragraph hereof until a successor company shall have become such pursuant to the applicable provisions
        hereof, and thereafter “Company” shall mean such successor company.

      

      

      
        
          

      

      
      “Corporate Trust Office” means the principal corporate trust office of the Trustee at which at any particular time its corporate trust business shall be administered, which
        office at the date of execution of this Indenture is located at [ ] or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee (or
        such other address as such successor Trustee may designate from time to time by notice to the Holders and the Company).

      

      

      “covenant defeasance option” has the meaning specified in Section 10.01(b).

      

      

      “defaulted interest” has the meaning specified in Section 2.07.

      

      

      “Depository”, with respect to Securities of any Series for which the Company shall determine that such Securities will be issued as a Depository Security, means The Depository
        Trust Company or another clearing agency or any successor registered under the Securities Exchange Act or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to Sections 2.03 and 2.13.

      

      

      “Depository Security”, with respect to any Series of Securities, means a Security executed by the Company and authenticated and delivered by the Trustee to the Depository or
        pursuant to the Depository’s instruction, all in accordance with this Indenture and pursuant to a resolution of the Board of Directors or an indenture supplemental hereto as contemplated by Section 2.03, which shall be registered as to principal
        and interest in the name of the Depository or its nominee and shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding Securities of such Series.

      

      

      “Event of Default” has the meaning specified in Section 5.01.

      

      

      “Federal Income Tax” means United States federal income tax.

      

      

      “GAAP” means such accounting principles as are generally accepted at the time of any computation hereunder.

      

      

      “Government Obligations”, unless otherwise specified pursuant to Section 2.03, means securities that are (i) direct obligations of the United States government or (ii)
        obligations of a Person controlled or supervised by, or acting as an agency or instrumentality of, the United States government, the payment of which obligations is unconditionally guaranteed by such government, and that, in either case, are full
        faith and credit obligations of such government and are not callable or redeemable at the option of the issuer thereof.

      

      

      “Holder”, “Holder of Securities”, “Registered Holder”, or other similar terms mean the Person in
        whose name at the time a particular Security is registered in the Security register.

      

      

      “Indenture” means this instrument as originally executed or as it may from time to time be amended or supplemented as herein provided, as so amended or supplemented or both, and
        shall include the forms and terms of particular Series of Securities established as contemplated by Section 2.03.

      

      

      “Internal Revenue Service” means the United States Internal Revenue Service or a successor entity thereto.

      

      

      “legal defeasance option” has the meaning specified in Section 10.01(b).

      

      

      “Nasdaq Market” has the meaning specified in Section 12.05(e).

      

      

      “Officers’ Certificate” means a certificate signed on behalf of the Company by any two authorized executive officers of the Company and delivered to the Trustee.  Each such
        certificate shall include the statements provided for in Section 13.06.

      

      

      
        2

        
          

      

      “Opinion of Counsel” means a written opinion of legal counsel who may be an employee of or counsel to the Company.  Each Opinion of Counsel shall include the statements provided
        for in Section 13.06, if and to the extent required hereby.

      

      

      “original issue date” of any Security means the date set forth as such on such Security.

      

      

      “Original Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration
        of the maturity thereof pursuant to Section 5.01.

      

      

      “Outstanding”, when used with reference to Securities of any Series as of any particular time, subject to the provisions of Section 7.04, means all Securities of that Series
        authenticated and delivered under this Indenture, except:

      

      

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

      

      

      (b)          Securities, or portions thereof, for the payment or redemption of which the necessary funds in the required currency shall have been deposited in trust with the Trustee or with any
        Paying Agent other than the Company, or shall have been set aside, segregated and held in trust by the Company for the holders of such Securities if the Company shall act as its own Paying Agent, provided that if such securities, or portions
        thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as herein provided, or provision satisfactory to the Trustee shall have been made for giving such notice;

      

      

      (c)          Securities in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.10, except with respect to any such Security as to
        which proof satisfactory to the Trustee and the Company is presented that such Security is held by a person in whose hands such Security is a legal, valid and binding obligation of the Company;

      

      

      (d)          Securities converted into other securities of the Company in accordance with or as contemplated by this Indenture; and

      

      

      (e)          Securities with respect to which the Company has effected defeasance as provided in Article 10.

      

      

      “Paying Agent” means any Person, which may include the Company, authorized by the Company to pay the principal of or interest, if any, on any Security of any Series on behalf of
        the Company.

      

      

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

      

      

      “Place of Payment”, when used with respect to the Securities of any Series, means the place or places where the principal of and interest on the Securities of that Series are
        payable as specified pursuant to Section 3.02.

      

      

      “Preferred Shares” means any shares issued by the Company that are entitled to a preference or priority over the Common Shares upon any distribution of the Company’s assets,
        whether by dividend or upon liquidation.

      

      

      “principal” whenever used with reference to the Securities or any Security or any portion thereof shall be deemed to include “and premium, if any.”

      

      

      “record date” has the meaning specified in Section 2.07.

      

      

      “Responsible Officer”, when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee, including any vice president, assistant vice
        president, assistant secretary, senior trust officer, trust officer or any other officer or assistant officer of the Trustee customarily performing functions similar to those performed by the individuals who at the time shall be such officers,
        respectively, or to whom any corporate trust matter is referred at the Corporate Trust Office because of his or her knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this
        Indenture.

      

      

      
        3

        
          

      

      “Securities Act” means the Securities Act of 1933, as amended, as in force at the date as of which this Indenture was originally executed.

      

      

      “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended, as in force at the date as of which this Indenture was originally executed.

      

      

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

      

      

      “Security register” has the meaning specified in Section 2.08.

      

      

      “Senior Indebtedness” means (i) the principal of and premium, if any, and unpaid interest on indebtedness for money borrowed, (ii) purchase money and similar obligations, (iii)
        obligations under capital leases or leases of property or assets made as part of any sale and leaseback transaction, (iv) guarantees, assumptions or purchase commitments relating to, or other transactions as a result of which the Company is
        responsible for the payment of, such indebtedness of others, (v) renewals, extensions and refunding of any such indebtedness, (vi) interest or obligations in respect of any such indebtedness accruing after the commencement of any insolvency or
        bankruptcy proceedings and (vii) obligations associated with derivative products such as interest rate and currency exchange contracts, foreign exchange contracts, commodity contracts, and similar arrangements, unless, in each case, the instrument
        by which the Company incurred, assumed or guaranteed the indebtedness or obligations described in clauses (i) through (vii) hereof expressly provides that such indebtedness or obligation is not senior in right of payment to the Securities.

      

      

      “Series” or “Series of Securities” means all Securities of a similar tenor authorized by a particular resolution of the Board of Directors
        or in one or more indentures supplemental hereto.

      

      

      “Subsidiary” means:  (i) a corporation in which the Company and/or one or more Subsidiaries of the Company directly or indirectly owns, at the date of determination, a majority
        of the capital stock with voting power under ordinary circumstances to elect directors; (ii) a partnership, limited liability company, joint venture or similar entity in which the Company and/or one or more Subsidiaries of the Company directly or
        indirectly holds, at the date of determination, a majority interest in the equity capital or profits or other similar interests of such entity; or (iii) any other unincorporated Person in which the Company and/or one or more Subsidiaries of the
        Company directly or indirectly owns at the date of determination (x) at least a majority ownership interest or (y) the power to elect or direct the election of a majority of the directors or other governing body of such Person.

      

      

      “Trading Day” has the meaning specified in Section 12.05(e).

      

      

      “Trust Indenture Act”, except as otherwise provided in Sections 8.01 and 8.02, means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this
        Indenture was originally executed.

      

      

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

      

      

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

      

      

      
        4

        
          

      

      ARTICLE 2

      SECURITIES

      

      

      SECTION 2.01.          Forms Generally.   The Securities of each Series shall be substantially in such form, including temporary or definitive global form, as shall be
        established by or pursuant to a resolution of the Board of Directors or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this
        Indenture, and may have imprinted or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations, or with any rules of any
        securities exchange or to conform to general usage, all as may be determined by the officers executing such Securities as evidenced by their execution of the Securities.

       

      

      The definitive Securities may be printed or reproduced in any other manner, all as determined by the officers executing such Securities as evidenced by their execution of such Securities.

      

      

      SECTION 2.02.          Form of Trustee’s Certificate of Authentication.  The Trustee’s certificate of authentication on all Securities shall be in substantially the following
        form:

       

      

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

      

      

      Dated:

       

      

      	 	 	
                                  , as Trustee

            	 
	 	 	 	 
	 	
              By:

            	 	 
	 	 	
              Authorized Signatory

            	 

      

        -- or -‐

       

        

      	 	 	
                                  , as Trustee

            	 
	 	 	 	 
	 	
              By:

            	 

            	  , as
	 	 	
              Authentication Agent

            	 
	 	 	 	 
	 	
              By:

            	 	 
	 	 	
              Authorized Signatory

            	 

       

      

      SECTION 2.03.          Amount Unlimited; Issuable in Series.  The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is
        unlimited.

       

      

      The Securities may be issued in one or more Series.  There shall be established in or pursuant to a resolution of the Board of Directors and set forth in an Officers’ Certificate, or established in one or more
        indentures supplemental hereto, prior to the issuance of Securities of any Series:

      

      

      (a)          the title of the Securities of the Series (including CUSIP numbers), which shall distinguish the Securities of the Series from all other Securities issued by the Company;

      

      

      (b)          any limit upon the aggregate principal amount of the Securities of the Series that may be authenticated and delivered under this Indenture, except for Securities authenticated and
        delivered upon registration of transfer of, or in exchange for or in lieu of, other Securities of the Series pursuant to Section 2.08, 2.10, 2.12, 8.05 or 11.03;

      

      

      (c)           the price at which the Securities of the Series will be issued;

      

      

      
        5

        
          

      

      (d)          if other than 100% of the principal amount, the portion of the principal amount payable upon maturity of the Securities of the Series;

      

      

      (e)           the date or dates on which the principal of the Securities of the Series is payable or the method of determination thereof;

      

      

      (f)           the rate or rates, which may be fixed or variable, or the method or methods of determination thereof, at which the Securities of the Series shall bear interest (including any interest
        rates applicable to overdue payments), if any, the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable, the record dates for the determination of Holders to whom interest is
        payable and the dates on which any other amounts, if any, will be payable;

      

      

      (g)          the place or places where the principal of, premium and other amounts, if any, and interest, if any, on Securities of the Series shall be payable if other than as provided in Section
        3.02;

      

      

      (h)          the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of the Series may be redeemed, in whole or in part, at the option of
        the Company;

      

      

      (i)           the obligation, if any, of the Company to redeem, purchase or repay Securities of the Series whether pursuant to any sinking fund or analogous provisions or pursuant to other provisions
        set forth therein or at the option of a Holder thereof and the price or prices at which and the period or periods within which and the terms and conditions upon which Securities of the Series shall be redeemed, purchased or repaid, in whole or in
        part;

      

      

      (j)           the denominations in which Securities of the Series shall be issuable;

      

      

      (k)          the form of the Securities, including such legends as required by law or as the Company deems necessary or appropriate and the form of any temporary global security that may be issued;

      

      

      (l)           whether, and under what circumstances, the Securities of any Series shall be convertible into other securities of the Company or exchangeable into securities of another company and, if
        so, the terms and conditions upon which such conversion will be effected, including the initial conversion price or rate, the conversion period and other provisions in addition to or in lieu of those described herein;

      

      

      (m)          whether there are any authentication agents, Paying Agents, transfer agents or registrars with respect to the Securities of such Series;

      

      

      (n)          whether the Securities of such Series are to be issuable in whole or in part by one or more global notes registered in the name of a Depository or its nominee;

      

      

      (o)          the ranking of the Securities of such Series as senior debt securities or subordinated debt securities;

      

      

      (p)          if other than U.S. dollars, the currency or currencies (including composite currencies or currency units) in which the Securities of any Series may be purchased and in which payments on
        the Securities of such Series will be made (which currencies may be different for payments of principal, premium or other amounts, if any, and/or interest, if any);

      

      

      (q)          if the Securities of any Series will be secured by any collateral, a description of the collateral and the terms and conditions of the security and realization provisions;

      

      

      (r)           the provisions relating to any guarantee of the Securities of any Series, including the ranking thereof;

      

      

      (s)           the ability, if any, to defer payments of principal, interest, or other amounts; and

      

      

      
        6

        
          

      

      (t)           any other specific terms or conditions of the Securities of any Series, including any additional Events of Default or covenants provided for with respect to the Securities of such
        Series, and any terms that may be required by or advisable under applicable laws or regulations.

      

      

      All Securities of any one Series shall be substantially identical except as to denomination and except as otherwise may be provided in or pursuant to such resolution of the Board of Directors or in any such indenture
        supplemental hereto.  The Securities of any one Series need not be issued at the same time, and unless otherwise provided, a Series may be reopened for issuances of additional Securities of such Series.

      

      

      SECTION 2.04.          Authentication and Delivery of Securities.  At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver
        Securities of any Series executed by the Company to the Trustee for authentication, and the Trustee shall thereupon authenticate and make available for delivery such Securities to or upon the written order of the Company, signed by both (y) the
        chairman of its Board of Directors, or its president or any vice president, and (z) its treasurer or any assistant treasurer or its secretary or any assistant secretary.  At the time of the authentication of a Series of Securities, or the first
        authentication of a Series of Securities that provides for the issuance of Securities of that Series from time to time, and accepting the additional responsibilities under this Indenture in relation to any such Series of Securities, the Trustee
        shall be provided with and subject to Section 6.01 shall be fully protected in relying upon:

       

      

                      (a)          a copy of any resolution or resolutions of the Board of Directors relating to such Series, in each case certified by the secretary or an assistant secretary of the Company;

      

      

      (b)          a supplemental indenture, if any;

      

      

      (c)          an Officers’ Certificate setting forth the form and terms of the Securities of such Series as required pursuant to Sections 2.01 and 2.03, respectively, and prepared in accordance with
        Section 13.06; and

      

      

      (d)          an Opinion of Counsel, prepared in accordance with Section 13.06, which shall state:

      

      

      (i)           that the form or forms and terms of such Series of Securities have been established by or pursuant to a resolution of the Board of Directors or by a supplemental indenture as permitted
        by Sections 2.01 and 2.03 in conformity with the provisions of this Indenture;

      

      

      (ii)          that such Series of Securities have been duly authorized and, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions
        specified in such opinion of counsel, will constitute valid and binding obligations of the Company enforceable, in accordance with their terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization or other laws
        relating to or affecting the enforcement of creditors’ rights generally and by general equitable principles, regardless of whether such enforceability is considered in a proceeding in equity or at law; and

      

      

      (iii)         that all conditions precedent to the execution and delivery by the Company of such Series of Securities have been complied with.

      

      

      The Trustee shall have the right to decline to authenticate and deliver any Series of Securities under this Section 2.04 if the issue of such Series of Securities pursuant to this Indenture will affect the Trustee’s
        own rights, duties or immunities under this Indenture in a manner not reasonably acceptable to the Trustee.

      

      

      SECTION 2.05.          Execution of Securities.   The Securities shall be signed on behalf of the Company by both (a) the chairman of its Board of Directors or its president or
        any vice president and (b) its treasurer or any assistant treasurer or its secretary or any assistant secretary.  Such signatures may be the manual or facsimile signatures of such officers.  The seal of the Company may be in the form of a facsimile
        thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Securities.  Typographical and other minor errors or defects in any such reproduction of the seal or any such signature shall not affect the validity or enforceability
        of any Security that has been duly authenticated and delivered by the Trustee.

      

      

      
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      In case any officer of the Company who shall have signed any of the Securities shall cease to be such officer before the Security so signed shall be authenticated and delivered by the Trustee or disposed of by the
        Company, such Security nevertheless may be authenticated and delivered or disposed of as though the person who signed such Security had not ceased to be such officer of the Company.  Any Security may be signed on behalf of the Company by such
        individuals as, at the actual date of the execution of such Security, shall be the proper officers of the Company, although at the date of the execution and delivery of this Indenture any such individual was not such an officer.

      

      

      SECTION 2.06.          Certificate of Authentication.  Only such Securities as shall bear thereon a certificate of authentication substantially in the form set forth in Section
        2.02 and executed by the Trustee by the manual signature of one of its authorized signatories shall be valid or obligatory for any purpose.  Such certificate by the Trustee upon any Security executed by the Company shall be conclusive evidence that
        the Security so authenticated has been duly authenticated and delivered hereunder.

       

      

      SECTION 2.07.          Denomination and Date of Securities; Payments of Interest.  The Securities shall be issuable in denominations as shall be specified as contemplated by
        Section 2.03.  In the absence of any such specification with respect to the Securities of any Series, Securities shall be issuable in denominations of $1,000 and any integral multiple thereof, and interest shall be computed on the basis of a
        360-day year of twelve 30-day months.  The Securities shall be numbered, lettered or otherwise distinguished in such manner or in accordance with such plan as the officers of the Company executing the same may determine with the approval of the
        Trustee as evidenced by its execution and authentication thereof.

       

      

      Each Security shall be dated the date of its authentication.

      

      

      Unless otherwise provided as contemplated by Section 2.03, interest on any Security that is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the person in whose name
        that Security (or one or more predecessor securities) is registered at the close of business on the regular record date for the payment of such interest.

      

      

      The term “record date” as used with respect to any interest payment date (except for a date for payment of defaulted interest) means the date specified as such in the terms of
        the Securities of any particular Series or, if no such date is so specified, the close of business on the fifteenth day preceding such interest payment date, whether or not such record date is a Business Day.

      

      

      Any interest on any Security of any Series that is payable but not punctually paid or duly provided for (“defaulted interest”) on any interest payment date shall forthwith cease
        to be payable to the Registered Holder on the relevant record date by virtue of such Holder having been a Holder on such record date.  Such defaulted interest may be paid by the Company, at its election in each case, as provided in clause (a) or
        clause (b) below:

      

      

      (a)           The Company may elect to make payment of any defaulted interest to the persons in whose names any such Securities (or their respective predecessor Securities) are registered at the
        close of business on a special record date for the payment of such defaulted interest, which shall be fixed in the following manner.  The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each
        Security of such Series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee funds equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements
        satisfactory to the Trustee for such deposit prior to the date of the proposed payment.  Such funds when deposited shall be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this clause (a).  Thereupon
        the Trustee shall fix a special record date for the payment of such defaulted interest in respect of Securities of such Series, which shall be not more than 15 nor less than ten days prior to the date of the proposed payment and not less than ten
        days after the receipt by the Trustee of the notice of the proposed payment.  The Trustee promptly shall notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment
        of such defaulted interest and the special record date thereof to be mailed, first class postage prepaid, to each Registered Holder at his address as it appears in the Security register, not less than ten days prior to such special record date. 
        Notice of the proposed payment of such defaulted interest and the special record date therefor having been mailed as aforesaid, such defaulted interest in respect of Securities of such Series shall be paid to the persons in whose names such
        Securities (or their respective predecessor Securities) are registered on such special record date and such defaulted interest shall no longer be payable pursuant to the following clause (b).

      

      

      
        8

        
          

      

      (b)          The Company may make payment of any defaulted interest on the Securities of any Series in any other lawful manner not inconsistent with the requirements of any securities exchange on
        which the Securities of that Series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such payment shall be deemed
        practicable by the Trustee.

      

      

      Subject to the foregoing provisions of this Section 2.07, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to
        interest accrued and unpaid, and to accrue, that were carried by such other Security.

      

      

      SECTION 2.08.          Registration, Registration of Transfer and Exchange.  The Company will cause to be kept at each office or agency to be maintained for the purpose as
        provided in Section 3.02 a register or registers (the “Security register”) in which, subject to such reasonable regulations as it may prescribe, the Company will provide for the registration and the
        registration of transfer of the Securities.  The Trustee is hereby appointed Security registrar for purposes of registering, and registering transfers of, the Securities.

       

      

      Upon surrender for registration of transfer of any Security of any Series at any such office or agency to be maintained for the purpose as provided in Section 3.02, the Company shall execute, and the Trustee shall
        authenticate and make available for delivery in the name of the transferee or transferees, a new Security or Securities of the same Series and of like tenor and containing the same terms (other than the principal amount thereof, if more than one
        Security is executed, authenticated and delivered with respect to any security so presented, in which case the aggregate principal amount of the executed, authenticated and delivered Securities shall equal the principal amount of the Security
        presented in respect thereof) and conditions.

      

      

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

      

      

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

      

      

      No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of an amount sufficient to cover any tax or other governmental charge that may be imposed
        in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 2.12, 8.05 or 11.03 not involving any transfer.

      

      

      The Company shall not be required (i) to issue, register the transfer of or exchange any Security during the 15-day period prior to the day of mailing of the relevant notice of redemption or (ii) to register the
        transfer of or exchange any Security so selected for redemption in whole or in part, except, in the case of any Security to be redeemed in part, the portion thereof not redeemed.

      

      

      SECTION 2.09.          Trustee’s Duties to Monitor Compliance.  The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any
        restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners of interests in any
        Security in global form) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to
        determine substantial compliance as to form with the express requirements hereof.

      

      

      
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      SECTION 2.10.          Mutilated, Defaced, Destroyed, Lost and Stolen Securities.  Unless otherwise specified as contemplated by Section 2.03 of any Series, in case any
        temporary or definitive Security shall become mutilated or defaced or be destroyed, lost or stolen, the Company shall execute, and upon the written request of any officer of the Company, the Trustee shall authenticate and make available for
        delivery a new Security of the same Series and of like tenor and principal amount and with the same terms and conditions, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated or defaced Security or in
        lieu of and substitution for the Security so destroyed, lost or stolen.  In every case the applicant for a substitute Security shall furnish to the Company and to the Trustee such security or indemnity as may be required by them to indemnify and
        defend and to save each of them harmless and, in every case of destruction, loss or theft, evidence to their satisfaction of the destruction, loss or theft of such Security and of the ownership thereof.

       

      

      Upon the issuance of any substitute Security, the Company may require the payment of an amount sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses,
        including the reasonable fees and expenses of the Trustee, connected therewith.  In case any Security which has matured or is about to mature or has been called for redemption in full shall become mutilated or defaced or be destroyed, lost or
        stolen, the Company, instead of issuing a substitute Security, may pay or authorize the payment of the same without surrender thereof except in the case of a mutilated or defaced Security.  The applicant for such payment shall furnish to the
        Company and to the Trustee such security or indemnity as any of them may require to save each of them harmless.  In every case of destruction, loss or theft, the applicant also shall furnish to the Company and the Trustee evidence to their
        satisfaction of the destruction, loss or theft of such Security and of the ownership thereof.

      

      

      Every substitute Security issued pursuant to the provisions of this Section 2.10 by virtue of the fact that any Security is destroyed, lost or stolen shall constitute an additional contractual obligation of the
        Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone and shall be entitled to all the benefits of and shall be subject to all the limitations of rights set forth in this Indenture equally and
        proportionately with any and all other Securities duly authenticated and delivered hereunder.  All Securities shall be held and owned upon the express condition that, to the extent permitted by law, the foregoing provisions are exclusive with
        respect to the replacement or payment of mutilated, defaced, destroyed, lost or stolen Securities and shall preclude any and all other rights or remedies, notwithstanding any law or statute to the contrary with respect to the replacement or payment
        of negotiable instruments or other securities without their surrender.

      

      

      SECTION 2.11.          Cancellation of Securities.  All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment
        in respect of a sinking or analogous fund, if surrendered to the Company or any agent of the Company or the Trustee shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it in accordance with
        its customary procedures; and no Securities shall be issued in lieu thereof except as expressly permitted by the provisions of this Indenture.  The Company at any time may deliver to the Trustee for cancellation any Securities previously
        authenticated hereunder which the Company has not issued and sold and all Securities so delivered shall be promptly cancelled by the Trustee.  The Trustee shall return cancelled Securities held by it to the Company, upon written request.  If the
        Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless the same are delivered to the Trustee for cancellation.

       

      

      SECTION 2.12.          Temporary Securities.  Pending the preparation of definitive Securities for any Series, the Company may execute and the Trustee shall authenticate and
        make available for delivery temporary Securities for such Series, which may be printed, typewritten or otherwise reproduced, in each case in form reasonably acceptable to the Trustee.  Temporary Securities of any Series may be issued in any
        authorized denomination and substantially in the form of the definitive Securities of such Series but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company with the
        reasonable concurrence of the Trustee.  Temporary Securities may contain such reference to any provisions of this Indenture as may be appropriate.  Every temporary Security shall be executed by the Company and be authenticated by the Trustee upon
        the same conditions and in substantially the same manner, and with like effect, as the definitive Securities.  Without unreasonable delay the Company shall execute and shall furnish definitive securities of such Series and thereupon temporary
        Securities of such Series may be surrendered in exchange therefor without charge at each office or agency to be maintained by the Company for that purpose pursuant to Section 3.02, and the Trustee shall authenticate and make available for delivery
        in exchange for such temporary Securities of such Series a like aggregate principal amount of definitive Securities of the same Series of authorized denominations.  Until so exchanged, the temporary Securities of any Series shall be entitled to the
        same benefits under this Indenture as definitive Securities of such Series.

      

      

      
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      SECTION 2.13.          Securities in Global Form.  If Securities of a Series are issuable in global form, as specified as contemplated by Section 2.03, such global form of
        Security shall represent such of the Outstanding Securities of such Series as shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the
        aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges.  Any endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, of Outstanding
        Securities represented thereby may be made by the Trustee in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company order to be delivered to the Trustee pursuant to Section 2.04.  Subject
        to the provisions of Section 2.04, the Trustee shall deliver and redeliver any Security in definitive global form in the manner and upon written instructions given by the Person or Persons specified therein or in the applicable Company order.  If a
        Company order pursuant to Section 2.04 has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing.

       

      

      Unless otherwise specified as contemplated by Section 2.03, payment of principal of and any interest on any Security in definitive global form shall be made to the Person or Persons specified therein.

      

      

      Prior to due presentment of a Security for registration of transfer, the Company, the Trustee, and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of
        such Security for the purpose of receiving payment of principal of or interest on such Security and for all other purposes whatsoever, whether or not such Security shall be overdue, and neither the Company, the Trustees nor any agent of the Company
        or the Trustee will be affected by notice to the contrary.

      

      

      If The Depository Trust Company is at any time unwilling or unable to continue as Depository or if at any time The Depository Trust Company ceases to be a clearing agency registered under the Securities Exchange Act if
        so required by applicable law or regulation, and, in either case, a successor Depository is not appointed within 90 days, certificated Securities will be issued in exchange for the global Securities.  In addition, the Company may determine, at any
        time and subject to the procedures of The Depository Trust Company, not to have any Securities represented by one or more global Securities, and, in such event, shall issue individual Securities in certificated form in exchange for the relevant
        global Securities.  Beneficial interests in global Securities will be exchangeable for individual Securities in certificated form in the event of a default or an Event of Default, upon prior written notice to the Trustee by or on behalf of The
        Depository Trust Company or at the written request of the owner of such beneficial interests, in each case, in accordance with the terms hereof.  In any of the foregoing circumstances, an owner of a beneficial interest in a global Security shall be
        entitled to physical delivery of individual Securities in certificated form of like tenor and rank, equal in principal amount to such beneficial interest, and to have such Securities in certificated form registered in its name.

      

      

      Neither the Trustee nor any agent shall have any responsibility for any actions taken or not taken by The Depository Trust Company or any other Depository.

      

      

      SECTION 2.14.          CUSIP Numbers.  The Company in issuing the Securities may use CUSIP numbers if then generally in use and, if so, the Trustee shall use CUSIP numbers in
        notices of redemption as a convenience to Holders.  Any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance
        may be placed only on the other identification numbers printed on the Securities.  No such redemption shall be affected by any defect in or omission of such numbers.  The Company promptly will notify the Trustee of any change in the CUSIP numbers.

      

      

      
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      ARTICLE 3

      COVENANTS OF THE COMPANY

      

      

      SECTION 3.01.          Payment of Principal and Interest.  The Company covenants and agrees for the benefit of each particular Series of Securities that it will duly and
        punctually pay or cause to be paid the principal of, and interest on, each of the Securities of such Series in accordance with the terms of the Securities of such Series and this Indenture.

       

      

      SECTION 3.02.          Offices for Payment, Etc.  So long as any of the Securities remain outstanding, the Company will maintain for each Series an office or agency where the
        Securities may be presented for payment or conversion, where the Securities may be presented for registration of transfer and for exchange and where notices and demands to or upon the Company in respect of the Securities or of this Indenture may be
        served.  The Company will give to the Trustee written notice of the location of any such office or agency and of any change of location thereof.  In case the Company shall fail to so designate or maintain any such office or agency or shall fail to
        give such notice of the location or of any change in the location thereof, presentations and demands may be made and notices may be served at the Corporate Trust Office.  Unless otherwise specified pursuant to Section 2.03, the Trustee is hereby
        appointed Paying Agent.

       

      

      SECTION 3.03.          Paying Agents.  Whenever the Company shall appoint a Paying Agent other than the Trustee with respect to the Securities of any Series, it will cause such
        Paying Agent to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 3.03:

       

      

      (a)          that it will hold all amounts received by it as such Paying Agent for the payment of the principal of or interest on the Securities of such Series in trust for the benefit of the Holders
        of the Securities of such Series and, upon the occurrence of an Event of Default and upon the written request of the Trustee, pay over all such amounts received by it to the Trustee; and

      

      

      (b)          that it will give the Trustee notice of any failure by the Company or by any other obligor on the Securities of such Series to make any payment of the principal of or interest on the
        Securities of such Series when the same shall be due and payable.

      

      

      One Business Day prior to each due date of the principal of or interest on the Securities of such Series, the Company will deposit with the Paying Agent sufficient funds to pay such principal or interest so becoming
        due and, unless such Paying Agent is the Trustee, notify the Trustee of any failure to take such action.

      

      

      If the Company shall act as its own Paying Agent with respect to the Securities of any Series, on or before each due date of the principal of or interest on the Securities of such Series it will set aside, segregate
        and hold in trust for the benefit of the Holders of the Securities of such Series sufficient funds to pay such principal or interest so becoming due.  The Company will promptly notify the Trustee of any failure to take such action.

      

      

      At any time, for the purpose of obtaining a satisfaction and discharge with respect to one or more or all Series of Securities or for any other reason, the Company may pay or cause to be paid to the Trustee all amounts
        held in trust for any such Series by the Company or any Paying Agent, such amounts to be held by the Trustee in trust pursuant to this Indenture.

      

      

      The agreement to hold amounts in trust as provided in this Section 3.03 is subject to the provisions of Sections 10.03 and 10.04.

      

      

      SECTION 3.04.          Officers’ Certificate.  The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate indicating
        whether the officers signing such Officers’ Certificate on behalf of the Company know of any default with respect to the Company’s compliance with all conditions or covenants under the Securities of any Series.  The Company also shall deliver to
        the Trustee, within 30 days after the occurrence thereof, written notice of any Event of Default with respect to the Securities of any Series, the status thereof and what action the Company is taking or proposes to take in respect thereof.

       

      

      SECTION 3.05.        Calculation of Original Issue Discount.  The Company shall file with the Trustee, within 30 days after the end of each calendar year, a written notice
        specifying the amount of original issue discount, if any, including daily rates and accrual periods, accrued on each Series of Outstanding Original Issue Discount Securities as of the end of such year.

      

      

      
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      ARTICLE 4

      HOLDERS’ LISTS AND REPORTS BY THE COMPANY

      

      

      SECTION 4.01.          Company to Furnish Trustee Information as to Names and Addresses of Holders.  Unless otherwise contemplated by Section 2.03 for the Securities of any
        Series, the Company will furnish or cause to be furnished to the Trustee a list in such form as the Trustee reasonably may require of the names and addresses of the Holders of the Securities of each Series:

      

      

      (a)          semiannually, and not more than 15 days after each record date for the payment of interest on such Securities, as of such record date; and

      

      

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

      

      

      provided that, if the Trustee shall be the Security registrar for such Series, such list shall not be required to be furnished.

      

      

      SECTION 4.02.          Preservation and Disclosure of Holders’ Lists.

      

      

      (a)          The Trustee will preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in
        Section 4.01 and the names and addresses of Holders received by the Trustee in its capacity as the Security registrar.  The Trustee may destroy any list furnished to it as provided in Section 4.01 upon receipt of a new list so furnished.

      

      

      (b)          The rights of the Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the
        Trustee, will be as provided by Section 312(b) of the Trust Indenture Act.

      

      

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

      

      

      SECTION 4.03.          Reports by the Company.  So long as any Securities are outstanding, the Company will file with the Trustee, within 15 days after it files them with the
        Commission, copies of its annual report and the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company is required
        to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act.  The Company shall be deemed to have complied with the previous sentence to the extent that such information, documents and reports are filed with
        the Commission via EDGAR (or any successor electronic delivery procedure).  The Company shall also comply with the other provisions of Section 314(a) of the Trust Indenture Act.

       

      

      Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or
        determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

      

      

      
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      ARTICLE 5

      REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

      

      

      SECTION 5.01.          Event of Default Defined; Acceleration of Maturity; Waiver of Default.  “Event of Default”, with respect to
        Securities of any Series, means, unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, any one of the following events which shall have occurred and be continuing (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) unless it is either
        inapplicable to a particular Series or it is specifically deleted or modified in or pursuant to the supplemental indenture or resolution of the Board of Directors establishing such Series of Securities or in the form of Security for such Series:

       

      

      (a)          default in the payment of any installment of interest upon any of the Securities of such Series as and when the same shall become due and payable, and continuance of such default for a
        period of 30 days;

      

      

      (b)          default in the payment of all or any part of the principal of any of the Securities of such Series as and when the same shall become due and payable, either at maturity, upon any
        redemption or repurchase, by declaration or otherwise;

      

      

      (c)          default in the performance or breach of any covenant or warranty contained in the Securities of such Series or in this Indenture (other than (x) the failure to comply with any covenant
        or agreement contained in Section 314(a)(1) of the Trust Indenture Act or Section 4.03 or (y) a default in the performance or breach of a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section 5.01
        specifically dealt with or which has expressly been included in this Indenture solely for the benefit of one or more Series of Securities other than that Series), and continuance of such default or breach for a period of 90 days after there has
        been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that Series, a written notice specifying such default
        or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder;

      

      

      (d)          the Company (i) pursuant to or within the meaning of any bankruptcy law commences a voluntary case, consents to the entry of an order for relief against it in an involuntary case,
        consents to the appointment of a custodian of it or for any substantial part of its property, or makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws relating to insolvency; or (ii) a
        court of competent jurisdiction enters an order or decree under any bankruptcy law that is for relief against the Company in an involuntary case, appoints a custodian of the Company or for any substantial part of its property, or orders the winding
        up or liquidation of the Company or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 90 days; or;

      

      

      (e)          any other Event of Default (including Events of Default replacing or supplementing the foregoing) provided with respect to Securities of such Series in the supplemental indenture or
        resolution of the Board of Directors establishing such Series.

      

      

      Any failure to perform, or breach of, any covenant or agreement of the Company in respect of the Securities of such Series contained in Section 314(a)(1) of the Trust Indenture Act or Section 4.03 shall not be a
        default or an Event of Default.  Remedies against the Company for any such failure or breach will be limited to liquidated damages as described in the following sentence, and Holders shall not have any right to accelerate the maturity of the
        Securities of such Series as a result of any such failure or breach.  Instead, if there is such a failure or breach of the Company’s obligation under Section 314(a)(1) of the Trust Indenture Act or Section 4.03 and continuance of such failure or
        breach for a period of 90 days after the date on which there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding
        Securities of all Series affected thereby, a written notice specifying such failure or breach and requiring it to be remedied and stating that such notice is a “Notice of Reporting Noncompliance” hereunder, the Company will pay liquidated damages
        to all Holders of Securities of such Series, at a rate per year equal to 0.25% of the principal amount of such Securities from the 90th day following such notice to and including the 150th day following such notice and at a rate per year equal to
        0.5% of the principal amount of such Securities from and including the 151st day following such notice, until such failure or breach is cured.  Any such liquidated damages shall be payable in the same manner and on the same dates as the stated
        interest payable on the Securities of such Series.  In the event that the Company is required to pay such liquidated damages, the Company shall provide a written notice to the Trustee (and if the Trustee is not the Paying Agent, the Paying Agent)
        no later than five Business Days prior to the payment date for the payment of such liquidated damages setting forth the amount of such liquidated damages to be paid by the Company on such payment date and directing the Trustee (or, if the Trustee
        is not the Paying Agent, the Paying Agent) to make such payment to the extent it receives funds from the Company to do so.  The Trustee shall not at any time be under any duty or responsibility to any holder of Securities to determine whether such
        liquidated damages are payable, or with respect to the nature, extent or calculation of the amount of liquidated damages owed.

      

      

      
        14

        
          

      

      If an Event of Default occurs under clause (d) above, the principal of and interest on the Securities of each Outstanding Series shall become immediately due and payable without any declaration or other act on the part
        of the Trustee or any Holders of any Securities.

      

      

      Unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, if an Event of Default (other than an Event of Default occurring as a result of clause (d)) with respect to the Securities of
        any Series shall have occurred and be continuing, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities of such Series then Outstanding by notice to the Company may declare the principal amount of
        all the Securities of such Series and accrued and unpaid interest thereon to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable.  This provision, however, is subject to the
        condition that if at any time after the principal of the Securities of such Series shall have been so declared due and payable, and before any judgment or decree for the payment of the amounts due shall have been obtained or entered as hereinafter
        provided, the Company shall have paid or deposited with the Trustee sufficient funds to pay all matured installments of interest, if any, upon all the Securities of such Series and the principal of the Securities of such Series that shall have
        become due other than by such acceleration (with interest upon such principal and, to the extent that payment of such interest is enforceable under applicable law, upon overdue installments of interest, at the rate borne by the Securities of such
        Series to the date of such payment or deposit) and all other defaults under this Indenture, other than the nonpayment of the principal of Securities of such Series that shall have become due by such acceleration, shall have been remedied, then and
        in every such case the Holders of a majority in aggregate principal amount at maturity of the Securities of such Series then Outstanding, by written notice to the Company and to the Trustee for the Securities of such Series, may waive all defaults
        and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon.

      

      

      Subject to the provisions of Article 6, in case an Event of Default with respect to the Securities of any Series shall occur and be continuing, the Trustee shall not be under any obligation to exercise any of the
        trusts or powers vested in it hereby at the request or direction of any Holder of such Series, unless such Holder shall have offered to such Trustee security or indemnity reasonably satisfactory to it.

      

      

      Additional terms and conditions with respect to the rights of Holders of the Securities of a particular Series (including as to rights to rescind an acceleration of the payment of principal and interest) and the rights
        and obligations of the Trustee, in each case, in connection with a default or Event of Default, may be specified as contemplated by Section 2.03 for the Securities of any Series.

      

      

      SECTION 5.02.          Collection of Indebtedness by Trustee; Trustee May Prove Debt.  If the Company shall fail to pay any installment of interest on any of the Securities of
        any Series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days, or shall fail to pay the principal of any of the Securities of any Series when the same shall have become due and
        payable, whether upon maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series the Company will pay to the Trustee for the Securities of such
        Series for the benefit of the Holders of the Securities of such Series the whole amount that then shall have become due and payable on all Securities of such Series for principal of or interest, as the case may be (with interest to the date of such
        payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest specified in the Securities of such Series) and
        such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to and expenses incurred by the Trustee and its respective agents, attorneys and counsel.

      

      

      
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      Until such demand is made by the Trustee, the Company may pay the principal of and interest on the Securities of any Series to the persons entitled thereto, whether or not the principal of and interest on the
        Securities of such Series are overdue.

      

      

      If the Company shall fail to pay such amounts upon such demand, the Trustee for the Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action
        or proceedings at law or in equity for the collection of the amounts so due and unpaid.  In any such case, the Trustee may prosecute any such action or proceedings to judgment or final decree and may enforce any such judgment or final decree
        against the Company and collect in the manner provided by law out of the property of the Company, wherever situated, the amounts adjudged or decreed to be payable.

      

      

      If (i) there shall be pending proceedings relative to the Company under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, (ii) a receiver, assignee
        or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Company or its property or (iii) any other comparable judicial proceedings relative to the Company
        under the Securities of any Series, or to the creditors or property of the Company, shall be pending, and irrespective of whether the principal of any Securities shall then be due and payable or whether the Trustee shall have made any demand
        pursuant to the provisions of this Section 5.02, the Trustee shall be entitled and empowered, by intervention in such proceedings or otherwise:

      

      

      (a)          to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Securities of any Series and to file such other papers or documents
        as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to, and expenses incurred by, the Trustee, and its agents, attorneys and counsel) and of the Holders allowed in any
        judicial proceedings relative to the Company, or to the creditors or property of the Company; and

      

      

      (b)          to collect and receive any funds or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Holders and of the
        Trustee on their behalf; and any trustee, receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the Securities of such Series, and, in the event that such
        Trustee shall consent to the making of payments directly to the Holders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to and expenses incurred by such Trustee and its respective agents, attorneys and
        counsel and all other amounts due to such Trustee pursuant to Section 6.07.

      

      

      Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the
        Securities of any Series or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

      

      

      All rights of action and of asserting claims under this Indenture or under any of the Securities may be enforced by the Trustee for the Securities of such Series without the possession of any of the Securities of such
        Series or the production thereof at any trial or other proceedings relative thereto.  Any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust.  Any recovery of judgment, subject to
        the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities in respect of which such action was
        taken.

      

      

      In any proceedings brought by the Trustee for the Securities of such Series, the Trustee shall be held to represent all the Holders of the Securities in respect of which such action was taken, and it shall not be
        necessary to make any Holders of such Securities parties to any such proceedings.

      

      

      
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      SECTION 5.03.          Application of Proceeds.  Any amounts collected by the Trustee for the Securities of such Series pursuant to this Article 5 in respect of the Securities
        of any Series shall be applied in the following order at the date or dates fixed by such Trustee and, in case of the distribution of such amounts on account of principal or interest, upon presentation of the several Securities in respect of which
        amounts have been collected and stamping or otherwise noting thereon the payment, or issuing Securities of such Series in reduced principal amounts in exchange for the presented Securities of like Series if only partially paid, or upon surrender
        thereof if fully paid:

       

      

      FIRST:  To the payment of costs and expenses applicable to such Series in respect of which amounts have been collected, including reasonable compensation to and expenses incurred by the Trustee and its agents and
        attorneys and all other amounts due to the Trustee pursuant to Section 6.07;

      

      

      SECOND:  To the payment of the amounts then due and unpaid for principal of and interest on the Securities of such Series in respect of which amounts have been collected, such payments to be made ratably to the persons
        entitled thereto, without discrimination or preference, according to the amounts then due and payable on such Securities and any such debt for principal and interest; and THIRD:  To the payment of the remainder, if any, to the Company or as a court
        of competent jurisdiction may direct.

      

      

      SECTION 5.04.          Restoration of Rights on Abandonment of Proceedings.  If the Trustee for the Securities of any Series shall have proceeded to enforce any right under
        this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, the Company and the Trustee, subject to the determination in any such proceeding, shall be
        restored to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the Holders shall continue as though no such proceedings had been taken.

       

      

      SECTION 5.05.          Limitations on Suits by Holders.  No Holder of any Security of any Series shall have any right, by virtue or by availing of any provision of this
        Indenture, to institute any action or proceeding at law or in equity or in bankruptcy or otherwise with respect to this Indenture, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other
        remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof and the Holders of not less than 25% in aggregate principal amount of the Securities of such Series
        then Outstanding shall have made written request upon the Trustee to institute such action or proceedings in its own name as trustee hereunder and shall have offered to the Trustee security or indemnity satisfactory to it as it may require, against
        the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60 days after its receipt of such notice, request and offer of security or indemnity shall have failed to institute any such action or proceeding and no
        direction inconsistent with such written request shall have been given to the Trustee during such 60-day period by Holders of a majority in principal amount of the Securities of such Series then Outstanding; it being understood and intended, and
        being expressly covenanted by the Holder of every Security with every other Holder of a Security and the Trustee, that no one or more Holders of Securities of any Series shall have any right in any manner whatever, by virtue or by availing of any
        provision of this Indenture, to affect, disturb or prejudice the rights of any other such Holder of Securities, 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 of Securities of the applicable Series.

       

      

      SECTION 5.06.          Unconditional Right of Holders to Institute Certain Suits.  Notwithstanding any provision in this Indenture and any provision of any Security of such
        Series, the right of any Holder of any Security to receive payment of the principal of and (subject to Section 2.07) interest on such Security at the respective rates, in the respective amount on or after the respective due dates expressed in such
        Security of such Series, or to institute suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

       

      

      SECTION 5.07.          Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default.  Except as provided in Sections 2.10 and 5.05, no right or remedy herein
        conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy, to the extent permitted by law, shall be cumulative and in addition to every other right and remedy
        given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

      

      

      
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      No delay or omission of the Trustee or of any Holder to exercise any right or power accruing upon any 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 Event of Default or an acquiescence therein.  Subject to Section 5.05, every power and remedy given by this Indenture 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 the Holders.

      

      

      SECTION 5.08.          Control by Holders.    The Holders of a majority in aggregate principal amount of the Securities of each Series affected 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 by this Indenture on the Trustee with respect to the Securities of such Series. 
        The Trustee shall have the right to decline to follow any such direction if (i) such direction shall conflict with law or the provisions of this Indenture or any indenture supplemental hereto, (ii) the Trustee shall determine that the action or
        proceedings so directed would involve the Trustee in personal liability or (iii) the Trustee in good faith shall so determine that the actions or forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests
        of Holders of the Securities of all Series so affected not joining in the giving of said direction, it being understood that the Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such
        Holders.

      

       

      

      SECTION 5.09.          Waiver of Past Defaults.  The Holders of a majority in aggregate principal amount of the Securities of such Series at the time Outstanding, on behalf of
        the Holders of all the Securities of such Series, may waive any past default hereunder or its consequences, except a default in the payment of the principal of or interest on any of the Securities of such Series.

       

      

      Upon any such waiver, such default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred
        for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

      

      

      SECTION 5.10.          Right of Court to Require Filing of Undertaking to Pay Costs.  Any court in its discretion may require, in any suit for the enforcement of any right or
        remedy under this Indenture or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit.  Any such court in its
        discretion may 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.  The
        provisions of this Section 5.10 shall not apply, however, to any suit instituted by the Trustee, to any suit instituted by any Holder or group of Holders of any Series holding in the aggregate more than 10% in aggregate principal amount of the
        Securities of such Series or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the due date expressed in such Security.

       

      

      SECTION 5.11.          Suits for Enforcement.  If an Event of Default has occurred, has not been waived and is continuing, the Trustee in its discretion may proceed to protect
        and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or 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.

        

      

      ARTICLE 6

      CONCERNING THE TRUSTEE

      

      

      SECTION 6.01.          Duties of Trustee.

      

       

      

      (a)          If an Event of Default has occurred and is continuing with respect to the Securities of any Series, the Trustee shall exercise the rights and powers vested in it by this Indenture and
        use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

      

      

      
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      (b)          Except during the continuance of an Event of Default with respect to the Securities of any Series:

      

      

      (i)           the Trustee need perform only those duties that are specifically set forth in 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

      

      

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

      

      

      (c)          The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:

      

      

      (i)           this paragraph (c) does not limit the effect of paragraph (b) of this Section 6.01;

      

      

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

      

      

      (iii)         the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 5.08.

      

      

      (d)          Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c) and (e) of this Section 6.01.

      

      

      (e)          No provision of this Indenture shall require the Trustee to extend or risk its own funds or otherwise incur any financial liability unless it receives indemnity satisfactory to it
        against any loss, liability or expense.

      

      

      (f)          Amounts held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law.  The Trustee shall be under no liability for interest on any
        amounts received by it hereunder except as otherwise agreed in writing with the Company.

      

      

      SECTION 6.02.          Rights of Trustee. 

      

       

      

      (a)          The Trustee may conclusively rely on, and shall be fully protected in relying upon, any document believed by it to be genuine and to have been signed or presented by the proper person. 
        The Trustee need not investigate any fact or matter stated in the document.

      

      

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

      

      

      (c)          Subject to the provisions of Section 6.01(c), the Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its
        rights or powers.

      

      

      (d)          Before the Trustee acts or refrains from acting, the Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete
        authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon in accordance with such advice or Opinion of Counsel.

      

      

      
        19

        
          

      

      (e)          The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this
        Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

      

      

      (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 with due care by it hereunder.

      

      

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

      

      

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

      

      

      (i)          The Trustee shall not be bound to ascertain or inquire as to the performance or observance of any covenants, conditions or agreements on the part of the Company, except as otherwise set
        forth herein, but the Trustee may require of the Company full information and advice as to the performance of the covenants, conditions and agreements contained herein and shall be entitled in connection herewith to examine the books, records and
        premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation.

      

      

      (j)          The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as a duty and the Trustee shall not be answerable for other than its negligence or
        willful default.

      

      

      (k)          In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
        irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

      

      

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

      

      

      (m)          Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a written order of the Company and any resolution of the Board of Directors may be
        sufficiently evidenced by a Board Resolution of the Board of Directors.

      

      

      (n)          The Trustee may request that the Company deliver a certificate setting forth the names of individuals and titles of officers authorized at such time to take specified actions pursuant to
        this Indenture.

      

      

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

      

      

      SECTION 6.03.          Individual Rights of Trustee.  The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal
        with the Company or its affiliates with the same rights it would have if it were not Trustee.  Any Paying Agent, registrar or co-registrar may do the same with like rights.  However, the Trustee must comply with Sections 6.10 and 6.11.

      

      

      
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      SECTION 6.04.          Trustee’s Disclaimer.  The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities.  The Trustee shall not be
        accountable for the Company’s use of the proceeds from the Securities and shall not be responsible for any statement in any registration statement for the Securities filed with the Commission under the Securities Act (other than its Statement of
        Eligibility on Form T-1) or in the Indenture (other than its eligibility under Section 6.10) or the Securities (other than its certificate of authentication).

       

      

      SECTION 6.05.          Notice of Defaults.  If a default occurs and is continuing with respect to the Securities of any Series and is known to the Trustee, the Trustee shall
        mail to each Holder of the Securities of such Series notice of such default within 90 days after the occurrence of such default.  Except in the case of a default in the payment of the principal of, premium, if any, or interest on the Securities of
        any Series, including payments pursuant to the redemption provisions of the Securities of such Series, the Trustee may withhold notice if and so long as a committee of its Responsible Officers in good faith determines that withholding such notice
        is in the interests of Holders of such Series.

       

      

      SECTION 6.06.          Reports by Trustee to Holders.  So long as the Securities of any Series are Outstanding, within 60 days after each May 15 beginning with the May 15
        following the date of this Indenture, the Trustee shall mail to each Holder of any such Series and each other Person specified in Section 313(c) of the Trust Indenture Act a brief report dated as of such May 15 that complies with Section 313(a) of
        the Trust Indenture Act to the extent required thereby.  The Trustee also shall comply with Section 313(b) of the Trust Indenture Act.

       

      

      The Trustee will file a copy of each report, at the time of its mailing to Holders of any Series, with the Commission and each securities exchange on which the Securities of any Series are listed.  The Company promptly
        will notify the Trustee whenever the Securities of any Series become listed on any securities exchange and of any delisting thereof.

      

      

      SECTION 6.07.          Compensation and Indemnity.  The Company:

       

      

      (a)          will pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as shall be agreed to in writing between the Company and the Trustee for all services
        rendered by it hereunder, which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust;

      

      

      (b)          will reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture,
        including the reasonable compensation and expenses of its agents and counsel, except to the extent any such compensation or expense may be attributable to its own negligence or willful misconduct; and

      

      

      (c)          will indemnify the Trustee for, and to hold it harmless against, any loss, liability, claim, damage or expense, including taxes (other than taxes based upon, measured by or determined by
        the income of the Trustee), arising out of or in connection with the acceptance or administration of this trust or the performance of its duties hereunder, including the reasonable costs and expenses of defending itself against or investigating any
        claim (whether asserted by the Company, or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section, except
        to the extent that any such loss, liability, damage, claim or expense is due to its own negligence or willful misconduct.

      

      

      As security for the performance of the Company’s obligations under this Section 6.07, the Trustee shall have a lien prior to the Securities on all funds or property held or collected by the Trustee, except for those
        funds that are held in trust to pay the principal of or interest, if any, on particular Securities.

      

      

      “Trustee” for purpose of this Section 6.07 includes any predecessor trustee; provided that the negligence or willful misconduct of any Trustee shall not be attributable to any other Trustee.

      

      

      
        21

        
          

      

      The Company’s payment obligations pursuant to this Section 6.07 shall constitute additional indebtedness hereunder and shall survive the discharge and termination of this Indenture and resignation or removal of the
        Trustee.  When the Trustee incurs expenses after the occurrence of a default specified in Section 5.01(d), such expenses, including reasonable fees and expenses of counsel, are intended to constitute expenses of administration under bankruptcy law.

      

      

      SECTION 6.08.          Replacement of Trustee.  The Trustee may resign at any time with respect to Securities of one or more Series by so notifying the Company.  No such
        resignation, however, shall be effective until a successor Trustee has accepted its appointment pursuant to this Section 6.08.  The Holders of a majority in aggregate principal amount of the Outstanding Securities of any Series may remove the
        Trustee with respect to such Series by so notifying the Trustee and the Company.  The Company shall remove the Trustee if:

       

      

      (a)          the Trustee fails to comply with Section 6.10;

      

      

      (b)          the Trustee is adjudged bankrupt or insolvent;

      

      

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

      

      

      (d)          the Trustee otherwise becomes incapable of acting.

      

      

      If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Securities of one or more Series, the Company shall promptly appoint, by resolution of its Board
        of Directors, a successor Trustee with respect to the Securities of such Series.

      

      

      A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company.  Thereupon the resignation or removal of the retiring Trustee shall become effective, and the
        successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture with respect to the Securities of such Series.  The successor Trustee shall mail a notice of its succession to Holders so affected.  The retiring
        Trustee shall promptly transfer all funds and property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 6.07.

      

      

      If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in aggregate principal amount of the
        Outstanding Securities of each affected Series may petition any court of competent jurisdiction for the appointment of a successor Trustee.

      

      

      If the Trustee fails to comply with Section 6.10, any Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

      

      

      SECTION 6.09.          Successor Trustee by Merger.  If the Trustee consolidates with, merges or converts into or transfers all or substantially all its corporate trust
        business or assets to another corporation, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee.

       

      

      SECTION 6.10.          Eligibility; Disqualification.  The Trustee shall at all times satisfy the requirements of Section 310(a)(1) of the Trust Indenture Act.  The Trustee
        shall have a combined capital and surplus of at least $150,000,000 as set forth in its most recent published annual report of condition.  Neither the Company nor any person directly or indirectly controlling, controlled by or under common control
        with the Company shall serve as Trustee hereunder.  The Trustee shall comply with Section 310(b) of the Trust Indenture Act; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the Trust Indenture Act
        any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture
        Act are met.

       

      

      SECTION 6.11.          Preferential Collection of Claims Against Company.  The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor
        relationship listed in Section 311(b) of the Trust Indenture Act.  A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated therein.

      

      

      
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      ARTICLE 7

      CONCERNING THE HOLDERS

      

      

      SECTION 7.01.          Evidence of Action Taken by Holders.

       

      

      (a)          Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by a specified percentage in principal amount of
        the Holders of any or all Series may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such specified percentage of Holders in person or by agent duly appointed in writing.  Except as herein otherwise
        expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee.  Proof of execution of any instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
        Indenture and, subject to Sections 6.01 and 6.02, conclusive in favor of the Trustee and the Company, if made in the manner provided in this Article 7.

      

      

      (b)          The ownership of Securities shall be proved by the Security register.

      

      

      SECTION 7.02.          Proof of Execution of Instruments.  Subject to Sections 6.01 and 6.02, the execution of any instrument by a Holder or his agent or proxy may be proved 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.

       

      

      SECTION 7.03.          Holders to Be Treated as Owners.  The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the person in whose name any
        Security shall be registered upon the Security register for such Series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of
        receiving payment of or on account of the principal of and interest on such Security and for all other purposes.  Neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary.  All
        payments made to any such person, or upon his order, shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for amounts payable upon any such Security.

       

      

      SECTION 7.04.          Securities Owned by Company Deemed Not Outstanding.  In determining whether the Holders of the requisite aggregate principal amount of Outstanding
        Securities of any or all Series have concurred in any direction, consent or waiver under this Indenture, Securities that are owned by the Company or any other obligor on the Securities with respect to which such determination is being made, or by
        any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the Securities with respect to which such determination is being made, shall be disregarded and
        deemed not to be Outstanding for the purpose of any such determination.  For the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities that a Responsible Officer of the
        Trustee actually knows are so owned shall be so disregarded.  Securities so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with
        respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other
        obligor on the Securities.

      

       

      

      SECTION 7.05.          Right of Revocation of Action Taken.  At any time prior to the evidencing to the Trustee, as provided in Section 7.01, of the taking of any action by the
        Holders of the percentage in aggregate principal amount of the Securities of any Series specified in this Indenture in connection with such action, any Holder of a Security the serial number of which is shown by the evidence to be included among
        the serial numbers of the Securities the Holders of which have consented to such action, by filing written notice at the Corporate Trust Office and upon proof of holding as provided in this Article 7, may revoke such action so far as concerns such
        Security.  Except as aforesaid any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Security and of any Securities issued in exchange or substitution
        therefor, irrespective of whether or not any notation in regard thereto is made upon any such Security.  Any action taken by the Holders of the percentage in aggregate principal amount of the Securities of any Series specified in this Indenture in
        connection with such action shall be binding upon the Company, the Trustee and the Holders of all the Securities affected by such action.  This Section shall apply unless otherwise specified as contemplated by Section 2.03 for the Securities of any
        Series.

      

      

      
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      ARTICLE 8

      SUPPLEMENTAL INDENTURES

      

      

      SECTION 8.01.          Supplemental Indentures Without Consent of Holders.  Unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, the
        Company, when authorized by a resolution of its Board of Directors, and the Trustee for the Securities of any Series from time to time and at any time may enter into an indenture or indentures supplemental hereto, which shall conform to the
        provisions of the Trust Indenture Act as in force at the date of the execution thereof, in form satisfactory to such Trustee, for one or more of the following purposes:

       

      

      (a)           cure any ambiguity, omission, defect or inconsistency in the Indenture or in any supplemental indenture that may be defective or inconsistent with any other provision contained herein
        or in any supplemental indenture, or to make such other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture as the Board of Directors may deem necessary or desirable and that shall not
        materially and adversely affect the interests of the Holders of such Series of Securities;

      

      

      (b)           to evidence the succession of another corporation to the Company, or successive successions, and the assumption by the successor corporation of the covenants, agreements and obligations
        of the Company pursuant to Article 9;

      

      

      (c)           to convey, transfer, assign, mortgage or pledge any property or assets to the Trustee as security for the Securities of one or more Series;

      

      

      (d)           to add guarantees with respect to the Securities of any Series or to add to the covenants of the Company such further covenants, restrictions, conditions or provisions for the
        protection of the Holders of Securities of any Series and, if such additional covenants are to be for the benefit of less than all the Series of Securities, stating that such covenants are being added solely for the benefit of such Series, or to
        release any guarantee where such release is permitted by the applicable supplemental indenture;

      

      

      (e)           to establish the form or terms of Securities of any Series as permitted by Sections 2.01 and 2.03;

      

      

      (f)           to make any changes to comply with the Trust Indenture Act, or any amendment thereto, or to comply with any requirement of the Commission in connection with the qualification of the
        Indenture under the Trust Indenture Act; or

      

      

      (g)           to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more Series and to add to or change any of the
        provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.08.

      

      

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

      

      

      
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      Any supplemental indenture authorized by the provisions of this Section 8.01 may be executed without the consent of the Holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of
        Section 8.02.

      

      

      SECTION 8.02.          Supplemental Indentures with Consent of Holders.  Except as otherwise specified as contemplated by Section 2.03 for the Securities of any Series, with
        the consent (evidenced as provided in Article 7) of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each Series affected by such supplemental indenture, the Company (when authorized by a
        resolution of its Board of Directors) and the Trustee for such Series of Securities, from time to time and at any time, may enter into an indenture or indentures supplemental hereto, which shall conform to the provisions of the Trust Indenture Act
        as in force at the date of execution thereof, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of
        the Holders of the Securities of each such Series.  Except as otherwise specified as contemplated by Section 2.03 for the Securities of any Series, no such supplemental indenture, however, shall, without the consent of each affected Holder of
        Securities of such Series:

       

      

      (a)          change the stated maturity date of any Security, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of any interest thereon, or reduce any amount
        payable on redemption or repurchase thereof, change the time at which the Securities of any Series may be redeemed, or impair or affect the right of any Holder receive payment of principal of, and interest on, any Security or to institute suit for
        payment thereof or, if the Securities provide therefor, affect any right of repayment at the option of the Holder; or

      

      

      (b)          change the provisions of the Indenture that relate to modifying or amending the provisions of the Indenture described above.

      

      

      This Indenture may not be amended to alter the subordination of any of the Outstanding Securities of any Series without the written consent of each holder of Senior Indebtedness then outstanding that would be adversely
        affected thereby, such written consent to be accompanied by an Opinion of Counsel or Officers’ Certificate to such effect.

      

      

      Upon the request of the Company, accompanied by a copy of a resolution of the Board of Directors certified by the secretary or an assistant secretary of the Company authorizing the execution of any such supplemental
        indenture, and upon the filing with the Trustee for such Series of Securities of evidence of the consent of the Holders as aforesaid and other documents, if any, required by Section 7.01, the Trustee for such Series of Securities shall join with
        the Company in the execution of such supplemental indenture.  If such supplemental indenture affects such Trustee’s own rights, duties or immunities under this Indenture or otherwise, such Trustee in its discretion may, 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 8.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the
        substance thereof.

      

      

      Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section 8.02, the Company shall give notice in the manner and to the extent provided in
        Section 13.04 to the Holders of Securities of each Series affected thereby at their addresses as they shall appear on the Security register, setting forth in general terms the substance of such supplemental indenture.  Any failure of the Company to
        mail such notice, or any defect therein, shall not in any way impair or affect the validity of any such supplemental indenture.

      

      

      SECTION 8.03.          Effect of Supplemental Indenture.  Upon the execution of any supplemental indenture pursuant to the provisions hereof, this Indenture shall be and be
        deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders of Securities of each Series affected
        thereby 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.

      

      

      
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      SECTION 8.04.          Documents to Be Given to Trustee.  The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall be provided with an Officers’ Certificate and
        an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture as conclusive evidence that any supplemental indenture executed pursuant to this Article 8 complies with the applicable
        provisions of this Indenture.

       

      

      SECTION 8.05.          Notation on Securities in Respect of Supplemental Indentures.  Securities of any Series authenticated and delivered after the execution of any
        supplemental indenture pursuant to the provisions of this Article 8 may bear, upon the direction of the Company, a notation in form satisfactory to the Trustee for the Securities of such Series as to any matter provided for by such supplemental
        indenture.  If the Company shall so determine, new Securities of any Series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by
        the Company, authenticated by the Trustee and delivered in exchange for the Outstanding Securities of such Series.

       

        

      ARTICLE 9

      CONSOLIDATION, MERGER, SALE OR CONVEYANCE

      

      

      SECTION 9.01.          Company May Consolidate, Etc.  on Certain Terms.  Unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, the
        Company may consolidate with or amalgamate or merge with or into, or sell, convey or lease all or substantially all of its assets to any other company; provided that in any such case:

       

      

      (a)          either the Company shall be the continuing company, or the successor company shall be organized and existing under the laws of the United States, any state thereof, a member state of the
        European Union or any political subdivision thereof and shall expressly assume the due and punctual payment of the principal of and interest on all the Securities, and the due and punctual performance and observance of all of the covenants and
        conditions of this Indenture to be performed or observed by the Company, and

      

      

      (b)          such continuing or successor company, as the case may be, shall not be in material default immediately after such amalgamation, merger, consolidation, sale, conveyance or lease in the
        performance or observance of any such covenant or condition.

      

      

      SECTION 9.02.          Successor Corporation Substituted.  In case of any such amalgamation, merger, consolidation, sale, lease or conveyance, and following such an assumption
        by the successor corporation, such successor corporation shall succeed to and be substituted for the Company, with the same effect as if it had been named herein.  Such successor corporation may cause to be signed, and may issue either in its own
        name or in the name of the Company prior to such succession, any or all of the Securities issuable hereunder that shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such successor corporation instead of
        the Company and subject to all the terms, conditions and limitations in this Indenture, the Trustee shall authenticate and shall make available for delivery any Securities that shall have been signed and delivered by the officers of the Company to
        the Trustee for authentication, and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the Trustee for that purpose.  All of the Securities so issued shall in all respects have the same legal rank
        and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof.

       

      

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

      

      

      
        26

        
          

      

      In the event of any such sale or conveyance the Company (or any successor corporation which shall theretofore have become such in the manner described in this Article 9) shall be discharged from all obligations and
        covenants under this Indenture and the Securities and may be liquidated and dissolved.

      

      

      The provisions of this Section 9.02 shall apply except as otherwise specified as contemplated by Section 2.03 for the Securities of any Series.

      

      

      SECTION 9.03.          Opinion of Counsel to Trustee.  The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall receive an Opinion of Counsel, prepared in
        accordance with Section 13.06, as conclusive evidence that any such consolidation, amalgamation, merger, sale, lease or conveyance, and any such assumption complies with the applicable provisions of this Indenture.

       

      

      

      ARTICLE 10

      SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED FUNDS

      

      

      SECTION 10.01.        Satisfaction and Discharge of Indenture; Defeasance.  Unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series:

       

      

      (a)          When (i) all Outstanding Securities of a Series (other than Securities of such Series replaced or paid pursuant to Section 2.08) have been canceled or delivered to the Trustee for
        cancellation or (ii) all Outstanding Securities of such Series have become due and payable, whether at maturity or as a result of the mailing of a notice of redemption in connection with a redemption of a Series of Securities, or will become due
        and payable within one year, and the Company irrevocably deposits with the Trustee funds in an amount sufficient or Government Obligations, the principal of and interest on which will be sufficient, or a combination thereof sufficient, in the
        written opinion of a nationally recognized firm of independent public accountants delivered to the Trustee (which opinion shall only be required to be delivered if Government Obligations have been so deposited), to pay the principal of and interest
        and on the outstanding Securities when due at maturity or upon redemption of, including interest thereon to maturity or such redemption date (other than Securities of such Series replaced or paid pursuant to Section 2.08), and if in either case the
        Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Section 10.01(c), cease to be of further effect.  The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the
        Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company.

      

      

      (b)          Subject to Sections 10.01(c) and 10.02, the Company at any time may terminate (i) all of its obligations under the Securities of such Series and this Indenture (“legal defeasance option”) or (ii) its obligations under Article 3 of this Indenture and Section 4.03 (“covenant defeasance option”).  The Company may exercise its legal
        defeasance option notwithstanding its prior exercise of its covenant defeasance option for such Series.

      

      

      If the Company exercises its legal defeasance option with respect to Securities of a Series, payment of the Securities of such Series may not be accelerated because of an Event of Default.

      

      

      Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in writing the discharge of those obligations that the Company terminates.

      

      

      (c)          Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.08, 2.10 and 6.07, and in this Article 10 shall survive until the Securities of such Series have been
        paid in full.  Thereafter, the Company’s obligations in Sections 6.07 and 10.05 and the Trustee’s obligations under Section 10.04 shall survive such satisfaction and discharge.

      

      

      
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      SECTION 10.02.        Conditions to Defeasance.  Unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, the Company may exercise its legal
        defeasance option or its covenant defeasance option only if:

       

      

      (a)          the Company irrevocably deposits in trust with the Trustee money in an amount sufficient or Government Obligations, the principal of and interest on which will be sufficient, or a
        combination thereof sufficient, to pay the principal of, and premium (if any) and interest on the Securities of such Series when due at maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date;

      

      

      (b)          in the case of the legal defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there has been
        published by, the Internal Revenue Service a ruling, or (ii) since the date of 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 such Series will not recognize income, gain or loss for Federal Income Tax purposes as a result of such deposit and defeasance and will be subject to Federal Income Tax on the same amounts, in the same manner and at the
        same times as would have been the case if such deposit and defeasance had not occurred; and

      

      

      (c)          in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Series will not recognize
        income, gain or loss for Federal Income Tax purposes as a result of such deposit and defeasance and will be subject to Federal Income Tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and
        defeasance had not occurred.

      

      

      SECTION 10.03.        Application of Trust Funds.  The Trustee shall hold in trust funds or Government Obligations deposited with it pursuant to this Article 10.  It shall
        apply the deposited funds and the proceeds from Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities of such Series.

       

      

      SECTION 10.04.        Repayment to Company.  The Trustee and the Paying Agent shall promptly turn over to the Company upon request any funds or Government Obligations held by
        it as provided in this Article 10 which, in the written opinion of nationally recognized firm of independent public accountants delivered to the Trustee (which opinion shall only be required to be delivered if Government Obligations have been so
        deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with this Article 10.

       

      

      Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon written request any funds held by them for the payment of principal or interest or that remains unclaimed
        for two years, and, thereafter, Holders entitled to the funds must look to the Company for payment as general creditors, and the Trustee and the Paying Agent shall have no further liability with respect to such funds.

      

      

      SECTION 10.05.        Indemnity for Government Obligations.  The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed
        against deposited Government Obligations or the principal and interest received on such Government Obligations.

       

      

      SECTION 10.06.      Reinstatement.  If the Trustee or Paying Agent is unable to apply any funds or Government Obligations in accordance with this Article 10 by reason of any
        legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Securities of such Series shall
        be revived and reinstated as though no deposit had occurred pursuant to this Article 10 until such time as the Trustee or Paying Agent is permitted to apply all such funds or Government Obligations in accordance with this Article 10; provided,
        however, that, if the Company has made any payment of principal of or interest on, any Securities of such Series because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities
        to receive such payment from the funds or Government Obligations held by the Trustee or Paying Agent.

       

      

      This Section 10.06 shall not apply to any Series unless specified as contemplated by Section 2.03 for the Securities of such Series.

      

      

      
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      ARTICLE 11

      REDEMPTION OF SECURITIES AND SINKING FUNDS

      

      

      SECTION 11.01.        Applicability of Article.  The provisions of this Article 11 shall be applicable to the Securities of any Series which are redeemable before their
        maturity or to any sinking fund for the retirement of Securities of a Series except as otherwise specified as contemplated by Section 2.03 for Securities of such Series.

       

      

      SECTION 11.02.        Notice of Redemption; Partial Redemptions.  Notice of redemption to the Holders of Securities of any Series required to be redeemed or to be redeemed as
        a whole or in part at the option of the Company shall be given by giving notice of such redemption as provided in Section 13.04, at least 30 days and not more than 60 days prior to the date fixed for redemption to such Holders of Securities of such
        Series.  Failure to give notice by mail, or any defect in the notice to the Holder of any Security of a Series designated for redemption as a whole or in part, shall not affect the validity of the proceedings for the redemption of any other
        Security of such Series.

       

      

      The notice of redemption to each such Holder shall specify the date fixed for redemption, the CUSIP number or numbers for such Securities, the redemption price, the Place of Payment or Places of Payment, that payment
        will be made upon presentation and surrender of such Securities, that such redemption is pursuant to the mandatory or optional sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption will be paid as
        specified in such notice, that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue and, if applicable, that a Holder of Securities who desires to convert Securities for redemption must satisfy the
        requirements for conversion contained in such Securities, the then existing conversion price or rate and the date and time when the option to convert shall expire.  If less than all of the Securities of any Series are to be redeemed, the notice of
        redemption shall specify the numbers of the Securities of such Series to be redeemed.  In case any Security of a Series is to be redeemed in part, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and
        shall state that on and after the date fixed for redemption, upon surrender of such Security, a new Security or Securities of such Series in principal amount equal to the unredeemed portion thereof will be issued.

      

      

      The notice of redemption of Securities of any Series to be redeemed at the option of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the
        Company.  If such notice is to be given by the Trustee, the Company shall provide notice of such redemption to the Trustee at least 45 days prior to the date fixed for redemption (unless a shorter notice shall be satisfactory to the Trustee).  If
        such notice is given by the Company, the Company shall provide a copy of such notice given to the Holders of such redemption to the Trustee at least three Business Days prior to the date such notice is given to such Holders, but in any event at
        least 15 days prior to the date fixed for redemption (unless a shorter notice shall be satisfactory to the Trustee).

      

      

      Unless otherwise specified pursuant to Section 2.03, not later than 10:00 a.m.  Eastern time on the redemption date specified in the notice of redemption given as provided in this Section 11.02, the Company will have
        on deposit with the Trustee or with one or more Paying Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 3.03) funds available on such date (or other forms of property, if
        permitted by the terms of the Securities of such Series) sufficient to redeem on the redemption date all the Securities of such Series so called for redemption at the appropriate redemption price, together with accrued interest to the date fixed
        for redemption.  If less than all the Outstanding Securities of a Series are to be redeemed, the Company will deliver to the Trustee at least 45 days prior to the date fixed for redemption an Officers’ Certificate stating the aggregate principal
        amount of Securities to be redeemed (unless a shorter notice shall be satisfactory to the Trustee).

      

      

      If less than all the Securities of a Series are to be redeemed, the Trustee shall select Securities of such Series to be redeemed on a pro rata basis, by lot or by such other method as the Trustee shall deem to be fair
        and appropriate, and the Trustee shall promptly notify the Company in writing of the Securities of such Series selected for redemption and, in the case of any Securities of such Series selected for partial redemption, the principal amount thereof
        to be redeemed.  However, if less than all the Securities of any Series with differing issue dates, interest rates and stated maturities are to be redeemed, the Company in its sole discretion shall select the particular securities to be redeemed
        and shall notify the Trustee in writing thereof at least 45 days prior to the relevant redemption date (unless a shorter notice shall be satisfactory to the Trustee).  Securities may be redeemed in part in multiples equal to the minimum authorized
        denomination for Securities of such Series or any multiple thereof.  For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities of any Series shall relate, in the case of any
        Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed.

      

      

      
        29

        
          

      

      This Section 11.02 shall apply unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series.

      

      

      SECTION 11.03.        Payment of Securities Called for Redemption.  If notice of redemption has been given as above provided, the Securities or portions of Securities
        specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption, and on and after said date (unless the
        Company shall default in the payment of such Securities at the redemption price, together with interest accrued to said date) interest on the Securities or portions of Securities so called for redemption shall cease to accrue.  Except as provided
        in Sections 6.01 and 10.04, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Securities except
        the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption.  On presentation and surrender of such Securities at a Place of Payment specified in said notice, said Securities or the specified portions
        thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption.  If for any Securities the date fixed for redemption is a regular interest payment date,
        payment of interest becoming due on such date shall be payable to the Holders of such Securities registered as such on the relevant record date subject to the terms and provisions of Section 2.07.If any Security called for redemption shall not be
        so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed for redemption at the rate of interest borne by the Security.

      

      

      Upon presentation of any Security redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to or on the order of the Holder thereof, at the expense of the
        Company, a new Security or Securities, of authorized denominations, in principal amount equal to the unredeemed portion of the Security so presented.

      

      

      This Section 11.03 shall apply unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series.

      

      

      SECTION 11.04.        Exclusion of Certain Securities from Eligibility for Selection for Redemption.  Except with respect to Securities in global form, Securities shall be
        excluded from eligibility for selection for redemption if they are identified by registration and certificate number in a written statement signed by an authorized officer of the Company and delivered to the Trustee at least 30 days prior to the
        last date on which notice of redemption may be given as being owned of record and beneficially by, and not pledged or hypothecated by, either (a) the Company or (b) an entity specifically identified in such written statement as directly or
        indirectly controlling or controlled by or under direct or indirect common control with the Company.

      

                        SECTION 11.05.     Repayment at the Option of the Holders.  Securities of any Series that are repayable at the option of the Holders before their stated maturity shall be repaid in
        accordance with the terms of the Securities of such Series.  

       

      

      The repayment of any principal amount of Securities pursuant to such option of the Holder to require repayment of Securities before their stated maturity, for purposes of Section 10.01, shall not operate as a payment,
        redemption or satisfaction of the indebtedness represented by such Securities unless and until the Company, at its option, shall deliver or surrender the same to the Trustee with a direction that such Securities be cancelled.

      

      

      
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      ARTICLE 12

      CONVERSION OF SECURITIES

      

      

      SECTION 12.01.        Applicability of Article.  Securities of any Series that are convertible into Common Shares at the option of the Holder of such Securities shall be
        convertible in accordance with their terms and, unless otherwise specified as contemplated by Section 2.03 for the Securities of any Series, in accordance with this Article 12.  Each reference in this Article 12 to “a Security” or “the Securities”
        refers to the Securities of the particular Series that is convertible into Common Shares.  If more than one Series of Securities with conversion privileges are Outstanding at any time, the provisions of this Article 12 shall be applied separately
        to each such Series.

       

      

      SECTION 12.02.        Right of Holders to Convert Securities into Common Shares.  Subject to the provisions of this Article 12, at the option of the Holder thereof, any
        Security of any Series that is convertible into Common Shares, or any portion of the principal amount thereof which is $1,000 or any integral multiple of $1,000, may be converted into duly authorized, validly issued, fully paid and nonassessable
        Common Shares at any time during the period specified in the Securities of such Series, at the conversion price or conversion rate for each $1,000 principal amount of Securities then in effect upon (a) in the case of any Security held in global
        form, surrender of the Security or Securities to the Company, at the account specified by the Trustee, and compliance with the procedures of the Depository in effect at that time and (b) in the case of certificated Securities, surrender of the
        Security or Securities to the Company, duly endorsed to the Company or in blank, at any time during usual business hours at the office or agency to be maintained by it in accordance with the provisions of Section 3.02, and in either case
        accompanied by a written notice of election to convert as provided in Section 12.03.

       

      

      If the Holder requests that the Common Shares be registered in a name other than that of the Holder, such notice also shall be accompanied by a written instrument or instruments of transfer in form satisfactory to the
        Company and/or the Trustee, as applicable, duly executed by the Holder thereof or his attorney duly authorized in writing.  All Securities surrendered for conversion shall, if surrendered to the Company or any conversion agent, be delivered to the
        Trustee for cancellation and cancelled by it, or shall, if surrendered to the Trustee, be cancelled by it, as provided in Section 2.11.

      

      

      The initial conversion price or conversion rate in respect of a Series of Securities shall be as specified in the Securities of such Series.  The conversion price or conversion rate will be subject to adjustment on the
        terms set forth in Section 12.05 or such other or different terms, if any, as may be specified by Section 2.03 for Securities of such Series.  Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of
        any portion of such Security.

      

      

      SECTION 12.03.        Issuance of Common Shares on Conversions.  As promptly as practicable after the surrender of any Security or Securities for conversion into Common
        Shares, the Company shall issue to or upon the written order of the Holder of the Security or Securities so surrendered the number of duly authorized, validly issued, fully paid and nonassessable Common Shares into which such Security or Securities
        may be converted in accordance with the terms thereof and the provisions of this Article 12.  Prior to issuance of such Common Shares, the Company shall require written notice at its said office or agency from the Holder of the Security or
        Securities so surrendered stating that the Holder irrevocably elects to convert such Security or Securities, or, if less than the entire principal amount thereof is to be converted, stating the portion thereof to be converted.  Such notice shall
        also state the name or names (with address and social security or other taxpayer identification number) in which said common shares are to be issued.  Such conversion shall be made at the time that such Security or Securities shall be surrendered
        for conversion and such notice shall be received by the Company or the Trustee and such conversion shall be at the conversion price in effect at such time.  The rights of the Holder of such Security or Securities as a Holder shall cease at such
        time, and the Person or Persons entitled to receive the Common Shares upon conversion of such Security or Securities shall be treated for all purposes as having become either record holder or holders of such Common Shares at such time.  In the case
        of any Security of any Series that is converted in part only, upon such conversion the Company shall execute and, upon the Company’s request and at the Company’s expense, the Trustee or an authenticating agent shall authenticate and deliver to the
        Holder thereof, as requested by such Holder, a new Security or Securities of such Series of authorized denominations in aggregate principal amount equal to the unconverted portion of such Security.

      

      

      
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      If the last day on which such Security may be converted is not a Business Day in a place where the conversion agent for that Security is located, such Security may be surrendered to that conversion agent on the next
        succeeding day that is a Business Day.

      

      

      The Company shall not be required to issue certificates for Common Shares upon conversion while its stockholder list is closed for a meeting of shareholders or for the payment of dividends or for any other purpose, but
        Common Shares shall be issued as soon as the stockholder list shall again be opened.

      

      

      SECTION 12.04.        No Payment or Adjustment for Interest or Dividends.  Unless otherwise specified as contemplated by Section 2.03 for Securities of such Series, Securities
        surrendered for conversion into Common Shares during the period from the close of business on any regular record date or special record date next preceding any interest payment date to the opening of business on such interest payment date (except
        Securities called for redemption on a redemption date within such period) when surrendered for conversion must be accompanied by payment (by wire transfer or certified or official bank check to the order of the Company payable in clearing house
        funds at the location where the Securities are surrendered) of an amount equal to the interest thereon which the Holder is entitled to receive on such interest payment date.  Payment of interest shall be made, on such interest payment date or such
        other payment date (as set forth in Section 2.07), as the case may be, to the Holder of the Securities as of such regular record date or special record date, as applicable.  Except where Securities surrendered for conversion must be accompanied by
        payment as described above, no interest on converted Securities will be payable by the Company on any interest payment date subsequent to the date of conversion.  No other payment or adjustment for interest or dividends is to be made upon
        conversion.  Notwithstanding the foregoing, upon conversion of any Original Issue Discount Security, the fixed number of Common Shares into which such Security is convertible delivered by the Company to the Holder thereof shall be applied, first,
        to the portion attributable to the accrued original issue discount relating to the period from the date of issuance to the date of conversion of such Security, and, second, to the portion attributable to the balance of the principal amount of such
        Security.

       

      

      SECTION 12.05.        Adjustment of Conversion Price.  Unless otherwise specified as contemplated by Section 2.03 for Securities of such Series, the conversion price for
        Securities convertible into Common Shares shall be adjusted from time to time as follows:

       

      

      (a)          If the Company shall (x) pay a dividend or make a distribution on Common Shares in Common Shares, (y) subdivide the issued and outstanding Common Shares into a greater number of shares
        or (z) consolidate the issued and outstanding Common Shares into a smaller number of shares, the conversion price for the Securities of such Series shall be adjusted so that the Holder of any such Security thereafter surrendered for conversion
        shall be entitled to receive the number of Common Shares that such Holder would have owned or have been entitled to receive after the happening of any of the events described above had such Security been converted immediately prior to the record
        date in the case of a dividend or the effective date in the case of subdivision or consolidation.  An adjustment made pursuant to this Section 12.05(a) shall become effective immediately after the record date in the case of a dividend, except as
        provided in Section 12.05(h), and shall become effective immediately after the effective date in the case of a subdivision or consolidation.

      

      

      (b)          If the Company shall issue rights or warrants to all holders of Common Shares entitling them (for a period expiring within 45 days after the record date mentioned below) to subscribe for
        or purchase Common Shares at a price per share less than the current market price per share of Common Shares (as defined for purposes of this Section 12.05(b) in Section 12.05(e)), at the record date for the determination of shareholders entitled
        to receive such rights or warrants, the conversion price in effect immediately prior thereto shall be adjusted so that the same shall equal the price determined by multiplying the conversion price in effect immediately prior to such record date by
        a fraction, the numerator of which shall be the number of Common Shares outstanding on such record date plus the number of Common Shares which the aggregate offering price of the total number of Common Shares so offered would purchase at such
        current market price, and the denominator of which shall be the number of Common Shares outstanding on such record date plus the number of additional Common Shares receivable upon exercise of such rights or warrants.  Such adjustment shall be made
        successively whenever any such rights or warrants are issued, and shall become effective immediately, except as provided in Section 12.05(h), after such record date.  In determining whether any rights or warrants entitle the Holders of the
        Securities of such Series to subscribe for or purchase Common Shares at less than such current market price, and in determining the aggregate offering price of such Common Shares, there shall be taken into account any consideration received by the
        Company for such rights or warrants plus the exercise price thereof, the value of such consideration or exercise price, as the case may be, if other than cash, to be determined by the Board of Directors.

      

      

      
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      (c)          If the Company shall distribute to all holders of Common Shares any shares of capital stock of the Company (other than Common Shares) or evidences of its indebtedness or assets
        (excluding cash dividends or distributions paid from retained earnings of the Company) or rights or warrants to subscribe for or purchase any of its securities (excluding those rights or warrants referred to in Section 12.05(b)) (any of the
        foregoing being herein in this Section 12.05(c) called the “Special Securities”), the conversion price shall be adjusted as provided in the next sentence unless the Company elects to reserve such Special
        Securities for distribution to the Holders of Securities of such Series upon the conversion so that any such Holder converting such Securities will receive upon such conversion, in addition to the Common Shares to which such Holder is entitled, the
        amount and kind of Special Securities which such Holder would have received if such Holder had, immediately prior to the record date for the distribution of the Special Securities, converted Securities into Common Shares.  The conversion price, as
        adjusted, shall equal the price determined by multiplying the conversion price in effect immediately prior to such record date by a fraction the numerator of which shall be the current market price per share (as defined for purposes of this Section
        12.05(c) in Section 12.05(e)) of Common Shares on the record date mentioned above less the then fair market value (as determined by the Board of Directors, whose determination shall, if made in good faith, be conclusive) of the portion of the
        Special Securities so distributed applicable to one Common Share, and the denominator of which shall be the current market price per Common Shares.  In the event the then fair market value (as so determined) of the portion of the Special Securities
        so distributed applicable to one Common Share is equal to or greater than the current market price per Common Share on the record date mentioned above, in lieu of the foregoing adjustment, adequate provision shall be made so that each Holder of
        Securities of such Series shall have the right to receive the amount and kind of Special Securities such holder would have received had he converted such Securities immediately prior to the record date for the distribution of the Special
        Securities.  Such adjustment shall become effective immediately, except as provided in Section 12.05(h), after the record date for the determination of shareholders entitled to receive such distribution.

      

      

      (d)          If, pursuant to Section 12.05(b) or 12.05(c), the conversion price shall have been adjusted because the Company has declared a dividend, or made a distribution, on the issued and
        outstanding Common Shares in the form of any right or warrant to purchase securities of the Company, or the Company has issued any such right or warrant, then, upon the expiration of any such unexercised right or unexercised warrant, the conversion
        price shall forthwith be adjusted to equal the conversion price that would have applied had such right or warrant never been declared, distributed or issued.

      

      

      (e)          For the purpose of any computation under Section 12.05(b), the current market price per Common Share on any date shall be deemed to be the average of the reported last sales prices for
        the 30 consecutive Trading Days (as defined below) commencing 45 Trading Days before the date in question.  For the purpose of any computation under Section 12.05(c), the current market price per Common Share on any date shall be deemed to be the
        average of the reported last sales prices for the ten consecutive Trading Days before the date in question.  The reported last sales price for each day (whether for purposes of Section 12.05(b), 12.05(c) or 12.06) shall be the reported last sales
        price, regular way, or, in case no sale takes place on such day, the average of the reported closing bid and asked prices, regular way, in either case as reported on the New York Stock Exchange Composite Tape or, if the Common Shares are not listed
        or admitted to trading on the New York Stock Exchange, on the principal national securities exchange on which the Common Shares are listed or admitted to trading or, if not listed or admitted to trading on any national securities exchange, on the
        Nasdaq Global Market or the Nasdaq Global Select Market (collectively, the “Nasdaq Market”) or, if the Common Shares are not quoted on the Nasdaq Market, the average of the closing bid and asked prices on
        such day in the over-the-counter market as furnished by any New York Stock Exchange member firm regularly making a market in the Common Shares selected for such purpose by the Board of Directors or, if no such quotations are available, the fair
        market value of the Common Shares as determined by a New York Stock Exchange member firm regularly making a market in the Common Shares selected for such purpose by the Board of Directors.  As used herein, the term “Trading

          Day” with respect to the Common Shares means (x) if the Common Shares are listed or admitted for trading on the New York Stock Exchange or another national securities exchange, a day on which the New York Stock Exchange or such other
        national securities exchange is open for business, (y) if the Common Shares are quoted on the Nasdaq Market, a day on which trades may be made on the Nasdaq Market or (z) otherwise, any day other than a Saturday or Sunday or a day on which banking
        institutions in the State of New York are authorized or obligated by law or executive order to close.

      

      

      
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      (f)           No adjustment in the conversion price shall be required unless such adjustment would require an increase or decrease of at least 1% in such price.  Any adjustments that by reason of
        this Section 12.05(f) are not required to be made, however, shall be carried forward and taken into account in any subsequent adjustment.  Any adjustment required to be made in accordance with the provisions of this Article 12 shall be made not
        later than such time as may be required in order to preserve the tax free nature of a distribution to the holders of Common Shares.  All calculations under this Article 12 shall be made by the Company and shall be to the nearest cent or to the
        nearest one-one hundredth of a share, as the case may be, with one-half cent and one-two hundredth of a share, respectively, being rounded upward.  The Company shall be entitled to make such reductions in the conversion price, in addition to those
        required by this Section 12.05, as it in its discretion shall determine to be advisable in order that any share dividend or bonus issue, subdivision of shares, distribution of rights or warrants to purchase shares or securities or distribution of
        other assets (other than cash dividends) made by the Company to its shareholders shall not be taxable.

      

      

      (g)          Whenever the conversion price is adjusted, the Company shall file with the Trustee, at the Corporate Trust Office of the Trustee, and with the office or agency maintained by the Company
        for the conversion of Securities of such Series pursuant to Section 3.02, an Officers’ Certificate, setting forth the conversion price after such adjustment and setting forth a brief statement of the facts requiring such adjustment, which
        certificate shall be conclusive evidence of the correctness of such adjustment.  Neither the Trustee nor any conversion agent shall be under any duty or responsibility with respect to any such certificate or any facts or computations set forth
        therein, except to exhibit said certificate from time to time to any Holder of a Security of such Series desiring to inspect the same.  The Company shall promptly cause a notice setting forth the adjusted conversion price to be mailed to the
        Holders of Securities of such Series, as their names and addresses appear upon the Security register.

      

      

      (h)          In any case in which this Section 12.05 provides that an adjustment shall become effective immediately after a record date for an event, the Company may defer until the occurrence of
        such event (y) issuing to the Holder of any Security of such Series converted after such record date and before the occurrence of such event the additional Common Shares issuable upon such conversion by reason of the adjustment required by such
        event over and above the Common Shares issuable upon such conversion before giving effect to such adjustment and (z) paying to such holder any amount in cash in lieu of any fractional Common Shares pursuant to Section 12.06.

      

      

      SECTION 12.06.        No Fractional Shares to Be Issued.  No fractional Common Shares shall be issued upon any conversion of Securities.  If more than one Security of any
        Series shall be surrendered for conversion at one time by the same Holder, the number of full Common Shares which shall be issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of the Securities of such
        Series (or specified portions thereof to the extent permitted hereby) so surrendered.  Instead of a fraction of a Common Share which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the
        Company shall pay a cash adjustment (computed to the nearest cent, with one-half cent being rounded upward) in respect of such fraction of a share in an amount equal to the same fractional interest of the reported last sales price of the Common
        Shares on the Trading Day next preceding the day of conversion.

       

      

      SECTION 12.07.        Notice to Holders of the Securities of a Series Prior to Taking Certain Types of Action.  

       

      

      With respect to the Securities of any Series, in case:

       

      

      (a)          the Company shall authorize the issuance to all holders of Common Shares of rights or warrants to subscribe for or purchase shares or any other right;

      

      

      (b)          the Company shall authorize the distribution to all holders of Common Shares of evidences of indebtedness or assets (except for cash dividends or distributions paid from retained
        earnings of the Company);

      

      

      
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      (c)          of any subdivision or consolidation of Common Shares or of any amalgamation, consolidation or merger to which the Company is a party and for which approval by the shareholders of the
        Company is required, or of the sale or transfer of all or substantially all of the assets of the Company; or

      

      

      (d)          of the voluntary or involuntary dissolution, liquidation or winding up of the Company;

      

      

      the Company shall cause to be filed with the Trustee and at the office or agency maintained for the purpose of conversion of Securities of such Series pursuant to Section 3.02, and shall cause to be mailed to the Holders of Securities of such
        Series at their last addresses as they shall appear on the Security register, at least ten days prior to the applicable record date hereinafter specified, a notice stating (i) the date as of which the holders of Common Shares to be entitled to
        receive any such rights, warrants or distribution are to be determined, or (ii) the date on which any such share subdivision or consolidation, amalgamation, merger, sale, transfer, dissolution, liquidation, winding up or other action is expected to
        become effective, and the date as of which it is expected that holders of record of Common Shares shall be entitled to exchange their Common Shares for securities or other property, if any, deliverable upon such share subdivision or consolidation,
        amalgamation, merger, sale, transfer, dissolution, liquidation, winding up or other action.  The failure to give the notice required by this Section 12.07 or any defect therein shall not affect the legality or validity of any distribution, right,
        warrant, share subdivision or consolidation, amalgamation, merger, sale, transfer, dissolution, liquidation, winding up or other action, or the vote upon any of the foregoing.

      

      

      SECTION 12.08.        Covenant to Reserve Shares for Issuance on Conversion of Securities.  The Company at all times will reserve and keep available out of each class of its
        authorized Common Shares, free from preemptive rights, solely for the purpose of issue upon conversion of Securities of any Series as herein provided, such number of Common Shares as shall then be issuable upon the conversion of all Outstanding
        Securities of such Series.  All Common Shares which shall be so issuable, when issued or delivered, shall be duly and validly issued Common Shares into which Securities of such Series are convertible, and shall be fully paid and nonassessable, free
        of all liens and charges and not subject to preemptive rights.

       

      

      SECTION 12.09.        Compliance with Governmental Requirements.  If any Common Shares required to be reserved for purposes of conversion of Securities hereunder require
        registration or listing with or approval of any governmental authority under any Federal or State law, pursuant to the Securities Act or the Securities Exchange Act or any national or regional securities exchange on which the Common Shares are
        listed at the time of delivery of any Common Shares, the Company will use its best efforts to cause such shares to be duly registered, listed or approved, as the case may be, before such shares may be issued upon conversion.

       

      

      SECTION 12.10.        Payment of Taxes upon Certificates for Shares Issued upon Conversion.  The issuance of certificates for Common Shares upon the conversion of Securities
        shall be made without charge to the converting Holders for any tax (including documentary and stamp taxes) in respect of the issuance and delivery of such certificates, and such certificates shall be issued in the respective names of, or in such
        names as may be directed by, the Holders of the Securities converted.  The Company, however, shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate in a name
        other than that of the Holder of the Security converted, and the Company shall not be required to issue or deliver such certificate unless or until the Person or Persons requesting the issuance thereof shall have paid to the Company the amount of
        such tax or shall have established to the satisfaction of the Company that such tax has been paid.

       

      

      SECTION 12.11.        Trustee’s Duties with Respect to Conversion Provisions.  The Trustee and any conversion agent shall have no duty to any Holder to determine whether any
        facts exist that may require any adjustment of the conversion rate, or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed, in making the same.  Neither the Trustee nor any conversion agent
        shall be accountable with respect to the registration under securities laws, listing, validity or value (or the kind or amount) of any Common Shares, or of any other securities or property, that at any time may be issued or delivered upon the
        conversion of any Security, and neither the Trustee nor any conversion agent makes any representation with respect thereto.  Neither the Trustee nor any conversion agent shall be responsible for any failure of the Company to make any payment or to
        issue, transfer or deliver any Common Shares or stock certificates or other securities or property upon the surrender of any Security for the purpose of conversion.  The Trustee and any conversion agent, subject to the provisions of Section 313 of
        the Trust Indenture Act, shall not be responsible for any failure of the Company to comply with any of the covenants contained in this Article 12.

      

      

      
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      SECTION 12.12.        Trustee Under No Duty to Monitor Stock Price or Calculations.  In no event shall the Trustee or conversion agent be responsible for monitoring the price
        of the Company’s common stock, or performing any calculations under this Article 12, such activities being the responsibility of the Company.

       

      

      SECTION 12.13.          Conversion Arrangement on Call for Redemption.  In connection with any redemption of Securities, the Company may arrange for the purchase and conversion
        of any Securities called for redemption by an agreement with one or more investment bankers or other purchasers to purchase such Securities by paying to the Trustee or the Paying Agent in trust for the Holders of Securities, one Business Day prior
        to the redemption date, an amount not less than the redemption price, together with interest, if any, accrued to the redemption date of such Securities, in immediately available funds.  Notwithstanding anything to the contrary contained in this
        Article 12, the obligation of the Company to pay the redemption price of such Securities, including all accrued interest, if any, shall be deemed to be satisfied and discharged to the extent such amount is so paid by such purchasers.  If such an
        agreement is entered into, any Securities not duly surrendered for conversion by the Holders thereof, at the option of the Company, may be deemed, to the fullest extent permitted by law, acquired by such purchasers from such Holders and surrendered
        by such purchasers for conversion, all as of immediately prior to the close of business on the last day on which such Securities called for redemption may be converted in accordance with this Indenture and the terms of such Securities, subject to
        payment to the Trustee or Paying Agent of the above-described amount.  The Trustee or the Paying Agent shall hold and pay to the Holders whose Securities are selected for redemption any such amount paid to it in the same manner as it would pay
        funds deposited with it by the Company for the redemption of Securities.  Without the Trustee’s and the Paying Agent’s prior written consent, no arrangement between the Company and such purchasers for the purchase and conversion of any Securities
        shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee and the Paying Agent as set forth in this Indenture.  The Company agrees to indemnify the Trustee and the Paying Agent from, and hold them
        harmless against, any loss, liability or expense arising out of or in connection with any such arrangement for the purchase and conversion of any Securities between the Company and such purchasers, including the reasonable costs and expenses
        incurred by the Trustee and the Paying Agent in the defense of any claim or liability arising out of or in connection with the exercise or performance of any of their powers, duties, responsibilities or obligations under this Indenture.

       

        

      ARTICLE 13

      MISCELLANEOUS PROVISIONS

      

      

      SECTION 13.01.        Incorporators, Shareholders, Officers and Directors of Company Exempt from Individual Liability.  No recourse under or upon any obligation, covenant or
        agreement contained in this Indenture or in any Security shall be had against any incorporator as such or against any past, present or future director, office, employee, incorporator, agent or shareholder of the Company or of any successor, either
        directly or through the Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and
        released by the acceptance of the Securities by the Holders thereof and as part of the consideration for the issue of the Securities.  This Section 13.01 shall apply unless otherwise specified as contemplated by Section 2.03 for the Securities of
        any Series.

       

      

      SECTION 13.02.        Provisions of Indenture for the Sole Benefit of Parties and Holders.  Nothing in this Indenture or in the
        Securities, expressed or implied, shall give or be construed to give to any Person, firm or corporation, other than the parties hereto, any Paying Agent and their successors hereunder and the Holders of the Securities any legal or equitable right,
        remedy or claim under this Indenture or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors and of the Holders of the Securities.

       

      

      SECTION 13.03.        Successors and Assigns of Company Bound by Indenture.  All the covenants, stipulations, promises and agreements in this Indenture contained by or on
        behalf of the Company shall bind its successors and assigns, whether so expressed or not.

      

      

      
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      SECTION 13.04.        Notices and Demands on Company, Trustee and Holders.  Any notice or demand that by any provision of this Indenture is required or permitted to be given
        or served by the Trustee or by the Holders of Securities to or on the Company may be given or served by being deposited postage prepaid, first-class mail (except as otherwise specifically provided herein) addressed (until another address of the
        Company is filed by the Company with the Trustee) to Piedmont Lithium Inc., 32 North Main Street, Suite 100, Belmont, NC 28012, Attention:  Chief Legal Officer.  Any notice, direction, request or demand by the Company or any Holder to or upon the
        Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made at the Corporate Trust Office.

       

      

      Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed by first-class mail, postage prepaid to
        such Holders as their names and addresses appear in the Security register within the time prescribed. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either
        before or after the event, and such waiver shall be the equivalent of such notice.  Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance
        upon such waiver.  In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed to any particular Holder shall affect the sufficiency of such notice with respect to other
        Holders, and any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given.

      

      

      In case, by reason of the suspension of or irregularities in regular mail service, it shall be impracticable to mail notice to the Company and Holders when such notice is required to be given pursuant to any provision
        of this Indenture, then any manner of giving such notice as shall be reasonably acceptable to the Trustee shall be deemed to be a sufficient giving of such notice.

      

      

      SECTION 13.05.        Electronic Transmission to the Trustee.  In addition to the foregoing, the Trustee agrees to accept and act upon notice, instructions or directions
        pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions, subsequent to such transmission of written
        instructions, shall provide the originally executed instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party providing
        such instructions or directions.  If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee shall
        not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance in good faith with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent
        written instruction received by the Trustee following action taken pursuant to prior instruction.  The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and
        directions to the Trustee, including without limitation the risk of the Trustee acting in good faith on unauthorized instructions, and the risk of interception and misuse by third parties.

       

      

      SECTION 13.06.        Officers’ Certificates and Opinions of Counsel; Statements to Be Contained Therein.  Upon any application or demand by the Company to the Trustee to take
        any action under any of the provisions of this Indenture, the Company 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 an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or demand as to which the furnishing of such
        documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished.

       

      

      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:

      

      

      (a)           a statement that the person making such certificate or opinion has read such covenant or condition;

      

      

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

      

      

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

      

      

      (d)          a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

      

      

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

      

      

      Any certificate, statement or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or representations by an accountant or firm
        of accountants in the employ of the Company, unless such officer or counsel, as the case may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which his certificate, statement or opinion may be
        based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous.

      

      

      SECTION 13.07.        Payments Due on Saturdays, Sundays and Holidays.  Unless otherwise specified in a Security, if the date of maturity of interest on or principal of the
        Securities of any Series or the date fixed for redemption, repurchase or repayment of any such Security shall not be a Business Day, payment of interest or principal 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 date of maturity or the date fixed for redemption, and no interest shall accrue for the period after such date.

       

      

      SECTION 13.08.        Conflict of any Provision of Indenture with Trust Indenture Act.  If
        and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision included in this Indenture which is required by the Trust Indenture Act, such required provision shall control.  If any provision of this
        Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be.

       

      

      SECTION 13.09.        New York Law to Govern.  This Indenture and each Security will be governed by and construed in accordance with the laws of the State of New York.

       

      

      SECTION 13.10.        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.

       

      

      SECTION 13.11.        Effect of Headings; Gender.  The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the
        construction hereof.  The use of the masculine, feminine or neuter gender herein shall not limit in any way the applicability of any term or provision hereof.

       

      

      SECTION 13.12.        Waiver of Jury Trial.  EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
        TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY.

       

      

      SECTION 13.13.        Force Majeure.  In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising
        out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
        interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
        resume performance as soon as practicable under the circumstances.

      

      

      
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      SECTION 13.14.        Certain Tax Information.  In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations
        promulgated by competent authorities) in effect from time to time to which a foreign financial institution, or issuer, trustee, paying agent, holder or other institution that is subject (“Applicable Law”) in relation to the Indenture, the Company
        agrees (i) to provide to the Trustee, to the extent reasonably available to the Company, sufficient information about holders or other applicable parties and/or transactions (including any modification to the terms of such transactions) so the
        Trustee can determine whether it has tax related obligations under Applicable Law, (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under the Indenture to the extent necessary to comply with Applicable Law
        for which the Trustee shall not have any liability, and (iii) to hold harmless the Trustee for any losses it may suffer due to the actions it takes to comply with such Applicable Law.  The terms of this section shall survive the termination of this
        Indenture.

       

      

      

      ARTICLE 14

      SUBORDINATION OF SECURITIES

      

      

      SECTION 14.01.        Securities Subordinated to Senior Indebtedness.  The Company covenants and agrees, and each Holder of Securities, by his acceptance thereof, likewise
        covenants and agrees, that the indebtedness represented by the Securities and the payment of any and all amounts payable in respect of each and all of the Securities is expressly subordinated, to the extent and in the manner hereinafter set forth,
        in right of payment to the prior payment in full of Senior Indebtedness, whether outstanding on the date of this Indenture or thereafter incurred, assumed or guaranteed.

       

      

      In the event (x) of any distribution of assets of the Company upon any dissolution, winding up, liquidation or reorganization of the Company whether in a bankruptcy, insolvency, reorganization or receivership
        proceeding or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Company or otherwise, except a distribution in connection with an amalgamation, merger or consolidation or a conveyance or
        transfer of all or substantially all of the properties of the Company which complies with the requirements of Article 9, (y) that a default shall have occurred and be continuing with respect to the payment of any amount payable in respect of any
        Senior Indebtedness or (z) that the principal of the Securities of any Series shall have been declared due and payable pursuant to Section 5.01 and such declaration shall not have been rescinded and annulled as provided in Section 5.01, then:

      

      

      (a)          in a circumstance described in the foregoing clause (x) or (y) the holders of all Senior Indebtedness, and in the circumstance described in the foregoing clause (z) the holders of all
        Senior Indebtedness the principal of which shall have been so declared due and payable, shall first be entitled to receive payment of the full amount due thereon, or provision shall be made for such payment, before the Holders of any of the
        Securities are entitled to receive any payment in respect of the indebtedness evidenced by the Securities;

      

      

      (b)          any payment by, or distribution of assets of, the Company of any kind or character, whether in cash, property or securities (other than securities of the Company as reorganized or
        readjusted or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate, at least to the extent provided in this Article 14 with respect to the Securities, to the
        payment of all Senior Indebtedness, provided that the rights of the holders of the Senior Indebtedness are not altered by such reorganization or readjustment), to which the Holders of any of the Securities would be entitled except for the
        provisions of this Article 14 shall be paid or delivered by the person making such payment or distribution, whether a liquidator, trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to the holders of such Senior
        Indebtedness or their representative or representatives or to the trustee or trustees under any indenture under which any instrument evidencing any of such Senior Indebtedness may have been issued, ratably according to the aggregate amounts
        remaining unpaid on account of such Senior Indebtedness held or represented by each, to the extent necessary to make payment in full of all Senior Indebtedness remaining unpaid after giving effect to any concurrent payment or distribution (or
        provision therefor) to the holders of such Senior Indebtedness, before any payment or distribution is made to the Holders of the indebtedness evidenced by the Securities under this Indenture; and

      

      

      
        39

        
          

      

      (c)          in the event that, notwithstanding the foregoing, any payment by, or distribution of assets of, the Company of any kind or character, whether in cash, property or securities (other than
        securities of the Company as reorganized or readjusted or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate, at least to the extent provided in this
        Article 14 with respect to the Securities, to the payment of all Senior Indebtedness, provided that the rights of the holders of Senior Indebtedness are not altered by such reorganization or readjustment), shall be received by the Holders of any of
        the Securities before all Senior Indebtedness is paid in full, such payment or distribution shall be paid over to the holders of such Senior Indebtedness or their representative or representatives or to the trustee or trustees under any indenture
        under which any instruments evidencing any of such Senior Indebtedness may have been issued, ratably as aforesaid, for application to the payment of all Senior Indebtedness remaining unpaid until all such Senior Indebtedness shall have been paid in
        full, after giving effect to any concurrent payment or distribution (or provision therefor) to the holders of such Senior Indebtedness.

      

      

      SECTION 14.02.        Subrogation.  Subject to the payment in full of all Senior Indebtedness to which the indebtedness evidenced by the Securities is in the circumstances
        subordinated as provided in Section 14.01, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to
        such Senior Indebtedness until all amounts owing on the Securities shall be paid in full.  As between the Company, its creditors other than holders of such Senior Indebtedness and the Holders of the Securities, no such payment or distribution made
        to the holders of such Senior Indebtedness by virtue of this Article 14 which otherwise would have been made to the Holders of the Securities shall be deemed to be a payment by the Company on account of such Senior Indebtedness, it being understood
        that the provisions of this Article 14 are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of Senior Indebtedness.

       

      

      SECTION 14.03.        Obligation of the Company Unconditional.  Nothing contained in this Article 14 or elsewhere in this Indenture or in the Securities is intended to or shall
        impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the
        principal of and interest on and any additional amounts owing in respect of the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the
        Securities and creditors of the Company other than the holders of Senior Indebtedness nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon
        default under this Indenture, subject to the rights, if any, under this Article 14 of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy.

       

      

      Upon any payment or distribution of assets of the Company referred to in this Article 14, the Trustee and the Holders of the Securities shall be entitled to conclusively rely upon any order or decree made by any court
        of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the liquidator, trustee in bankruptcy, receiver, assignee for the
        benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the persons entitled to participate in such payment
        or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article 14.

      

      

      SECTION 14.04.        Payments on Securities Permitted.  Nothing contained in this Article 14 or elsewhere in this Indenture, or in any of the Securities, shall affect the
        obligation of the Company to make, or prevent the Company from making, payment of the principal of or interest on or any additional amounts owing in respect of the Securities in accordance with the provisions hereof and thereof, except as otherwise
        provided in this Article 14.  No provision of this Article 14 shall prevent the occurrence of any default or Event of Default hereunder.

      

      

      
        40

        
          

      

      SECTION 14.05.        Effectuation of Subordination by Trustee.  Each Holder of Securities, by his acceptance thereof, authorizes and directs the Trustee in his behalf to take
        such action as may be necessary or appropriate to effectuate the subordination provided in this Article 14 and appoints the Trustee his attorney-in-fact for any and all such purposes.

       

      

      SECTION 14.06.        Knowledge of Trustee.  The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any
        payment to or by the Trustee in respect of the Securities.  Failure to give such notice shall not affect the subordination of the Securities to Senior Indebtedness.  Notwithstanding the provisions of this Article 14 or any other provisions of this
        Indenture, the Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee, or
        the taking of any other action by the Trustee, unless and until the Trustee shall have received written notice thereof from the Company, any Holder of Securities, any paying or conversion agent of the Company or the holder or representative of any
        class of Senior Indebtedness or from any trustee or agent therefor; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions of Section 6.01, shall be entitled in all respects to assume that no such facts exist. 
        If a Responsible Officer of the Trustee shall not have received the notice provided for in this Section 14.06 at least three Business Days prior to the date upon which, by the terms hereof, any amounts may become payable for any purpose (including
        the payment of the principal of or interest on, or additional amounts owing in respect of, any Security) then, anything herein contained to the contrary notwithstanding, the Trustee shall have all power and authority to receive such money and to
        apply the same to the purpose for which such money was received and shall not be affected by any notice to the contrary which may be received by it during or after such three Business Day period.

      

       

      

      SECTION 14.07.        Notices From Holders of Senior Indebtedness.  The Trustee shall be entitled to conclusively rely on the delivery to it of a written notice by a person
        representing himself to be a holder of Senior Indebtedness (or a trustee or agent on behalf of such holder) to establish that such notice has been given by a holder of Senior Indebtedness (or a trustee or agent on behalf of any such holder).  In
        the event that the Trustee determines in good faith that further evidence is required with respect to the right of any person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article 14, the Trustee
        may request such person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such person, the extent to which such person is entitled to participate in such payment or distribution and
        any other facts pertinent to the rights of such person under this Article 14, and if such evidence is not furnished, the Trustee may defer any payment which it may be required to make for the benefit of such person pursuant to the terms of this
        Indenture pending judicial determination as to the rights of such person to receive such payment.

       

      

      SECTION 14.08.        Trustee May Hold Senior Indebtedness.  The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article 14 with
        respect to any Senior Indebtedness at the time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in Section 313 of the Trust Indenture Act or elsewhere in this Indenture shall deprive the Trustee of any of its
        rights as such holder.

       

      

      Nothing in this Article 14 shall subordinate any claims of, or payments to, the Trustee pursuant to Section 6.07 to Senior Indebtedness.

      

      

      SECTION 14.09.        Rights of Holders of Senior Indebtedness Not Impaired.  No right of any present or future holder of any Senior Indebtedness to enforce the subordination
        herein shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any non-compliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge
        thereof any such holder may have or be otherwise charged with.

      

      

      
        41

        
          

      

      SECTION 14.10.        Default in Senior Indebtedness.

       

      

      (a)          Subject to Section 14.10(b), upon the happening of any event of default with respect to any Senior Indebtedness, as such event of default is defined in the instrument under which the
        Senior Indebtedness is outstanding, the holders of the Senior Indebtedness, directly or indirectly, may demand by giving written notice to the Company and the Trustee that, until such event of default shall have been cured or waived or shall have
        ceased to exist, the Company be prohibited from:

      

      

      (i)           exercising any right of redemption with respect to the Securities of any Series pursuant to Article 11;

      

      

      (ii)          making any payments with respect to the redemption of the Securities of any Series that were called for redemption pursuant to Article 11 prior to the happening of an event of default
        with respect to any Senior Indebtedness;

      

      

      (iii)         making any payment with respect to the principal of and interest on the Securities of any Series or as a sinking fund payment pursuant to Article 11; and

      

      

      (iv)         making any payment with respect to the repayment of the Securities of any Series at the option of the Holders pursuant to Section 11.05.

      

      

      (b)          If the holders of the Senior Indebtedness, directly or indirectly, fail to demand the rights provided in Section 14.10(a) within 90 days of the happening of an event of default with
        respect to such Senior Indebtedness they shall be deemed to have waived such rights with respect to such event of default; provided, however, that such waiver shall not affect the ability of the holders of the Senior Indebtedness to demand such
        rights upon the happening of any other event of default.

      

      

      SECTION 14.11.        Trustee Not Fiduciary for Holders of Senior Indebtedness.  The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness
        and shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other person cash, property or securities to which any holders of Senior
        Indebtedness shall be entitled by virtue of this Article 14 or otherwise.  With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth
        in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.

      

      

      [the remainder of this page is intentionally left blank]

      

      

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

       

      

      
        	 	
                PIEDMONT LITHIUM INC.

              
	 	 
	 	
                By:

              	 	 
	 	 	
                Name:

              	 
	 	 	
                Title:

              	 
	 	 	 	 
	 	
                [      ]

              	 
	 	 	 	 
	 	
                By:

              	 	 
	 	 	
                Name:

              	 
	 	 	
                Title:

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