Document:

EX-4.12

 Exhibit 4.12 

LABORATORY CORPORATION OF AMERICA HOLDINGS 

ISSUER 
 AND 

[                    ] 

TRUSTEE 
 INDENTURE

 DATED AS OF [            ],
[        ] 
 SUBORDINATED DEBT SECURITIES 

			
	 CROSS-REFERENCE TABLE1

 

	 Section of Trust Indenture Act of 1939, as Amended
	  	 Indenture

	310(a)	  	7.10
	310(b)	  	7.08; 7.10
	310(c)	  	Inapplicable
	311(a)	  	7.11
	311(b)	  	7.11
	311(c)	  	Inapplicable
	312(a)	  	5.01; 5.02(a)
	312(b)	  	5.02(c)
	312(c)	  	Inapplicable
	313(a)	  	7.06
	313(b)	  	7.06
	313(c)	  	7.06
	313(d)	  	7.06
	314(a)	  	4.06; 5.03
	314(b)	  	Inapplicable
	314(c)	  	12.07
	314(d)	  	Inapplicable
	314(e)	  	12.07
	314(f)	  	Inapplicable
	315(a)	  	7.01
	315(b)	  	7.05
	315(c)	  	7.01
	315(d)	  	7.01
	315(e)	  	6.11; 7.07
	316(a)	  	6.04
	316(b)	  	6.07
	316(c)	  	8.01
	317(a)	  	6.08
	317(b)	  	4.03
	318(a)	  	12.09

  

	1 	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions. 

 Table of Contents2 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS.
	  	 	1	  
		  	 SECTION 1.01 DEFINITIONS OF TERMS.
	  	 	1	  
	 ARTICLE II ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES.
	  	 	8	  
		  	 SECTION 2.01 DESIGNATION AND TERMS OF SECURITIES.
	  	 	8	  
		  	 SECTION 2.02 FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE.
	  	 	10	  
		  	 SECTION 2.03 DENOMINATIONS: PROVISIONS FOR PAYMENT.
	  	 	11	  
		  	 SECTION 2.04 EXECUTION AND AUTHENTICATION.
	  	 	12	  
		  	 SECTION 2.05 REGISTRATION OF TRANSFER AND EXCHANGE.
	  	 	13	  
		  	 SECTION 2.06 TEMPORARY SECURITIES.
	  	 	14	  
		  	 SECTION 2.07 MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES.
	  	 	14	  
		  	 SECTION 2.08 CANCELLATION.
	  	 	15	  
		  	 SECTION 2.09 BENEFITS OF INDENTURE.
	  	 	16	  
		  	 SECTION 2.10 AUTHENTICATING AGENT.
	  	 	16	  
		  	 SECTION 2.11 GLOBAL SECURITIES.
	  	 	17	  
		  	 SECTION 2.12 CUSIP NUMBERS.
	  	 	18	  
		  	 SECTION 2.13 OUTSTANDING SECURITIES.
	  	 	18	  
	 ARTICLE III REDEMPTION OF SECURITIES.
	  	 	19	  
		  	 SECTION 3.01 REDEMPTION.
	  	 	19	  
		  	 SECTION 3.02 NOTICES TO TRUSTEE.
	  	 	19	  
		  	 SECTION 3.03 SELECTION OF SECURITIES TO BE REDEEMED.
	  	 	19	  
		  	 SECTION 3.04 NOTICE OF REDEMPTION.
	  	 	19	  
		  	 SECTION 3.05 EFFECT OF NOTICE OF REDEMPTION.
	  	 	20	  
		  	 SECTION 3.06 DEPOSIT OF REDEMPTION PRICE.
	  	 	20	  
		  	 SECTION 3.07 SECURITIES REDEEMED IN PART.
	  	 	21	  
	 ARTICLE IV COVENANTS.
	  	 	21	  
		  	 SECTION 4.01 PAYMENT OF SECURITIES.
	  	 	21	  
		  	 SECTION 4.02 MAINTENANCE OF OFFICE OR AGENCY FOR REGISTRATION OF TRANSFER, EXCHANGE AND PAYMENT OF SECURITIES.
	  	 	21	  
		  	 SECTION 4.03 PROVISION AS TO PAYING AGENT.
	  	 	22	  
		  	 SECTION 4.04 APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE.
	  	 	23	  
		  	 SECTION 4.05 WHEN COMPANY MAY MERGE OR TRANSFER ASSETS.
	  	 	23	  
		  	 SECTION 4.06 STATEMENT BY OFFICERS AS TO DEFAULT.
	  	 	24	  

  

	2 	This Table of Contents does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions. 

  
 i 

							
	 ARTICLE V SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE.
	  	 	24	  
		  	 SECTION 5.01 COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS.
	  	 	24	  
		  	 SECTION 5.02 PRESERVATION OF INFORMATION; COMMUNICATIONS WITH SECURITYHOLDERS.
	  	 	24	  
		  	 SECTION 5.03 REPORTS BY THE COMPANY.
	  	 	25	  
	 ARTICLE VI DEFAULTS AND REMEDIES.
	  	 	25	  
		  	 SECTION 6.01 EVENTS OF DEFAULT.
	  	 	25	  
		  	 SECTION 6.02 ACCELERATION.
	  	 	27	  
		  	 SECTION 6.03 OTHER REMEDIES.
	  	 	27	  
		  	 SECTION 6.04 WAIVER OF PAST DEFAULTS.
	  	 	28	  
		  	 SECTION 6.05 CONTROL BY MAJORITY.
	  	 	28	  
		  	 SECTION 6.06 LIMITATION ON SUITS.
	  	 	28	  
		  	 SECTION 6.07 RIGHTS OF HOLDERS TO RECEIVE PAYMENT.
	  	 	29	  
		  	 SECTION 6.08 COLLECTION SUIT BY TRUSTEE.
	  	 	29	  
		  	 SECTION 6.09 TRUSTEE MAY FILE PROOFS OF CLAIM.
	  	 	29	  
		  	 SECTION 6.10 PRIORITIES.
	  	 	29	  
		  	 SECTION 6.11 UNDERTAKING FOR COSTS.
	  	 	30	  
		  	 SECTION 6.12 WAIVER OF STAY OR EXTENSION LAWS.
	  	 	30	  
	 ARTICLE VII CONCERNING THE TRUSTEE.
	  	 	30	  
		  	 SECTION 7.01 DUTIES OF TRUSTEE.
	  	 	30	  
		  	 SECTION 7.02 RIGHTS OF TRUSTEE.
	  	 	31	  
		  	 SECTION 7.03 INDIVIDUAL RIGHTS OF TRUSTEE.
	  	 	33	  
		  	 SECTION 7.04 TRUSTEE’S DISCLAIMER.
	  	 	33	  
		  	 SECTION 7.05 NOTICE OF DEFAULTS.
	  	 	33	  
		  	 SECTION 7.06 REPORTS BY TRUSTEE TO HOLDERS.
	  	 	33	  
		  	 SECTION 7.07 COMPENSATION AND INDEMNITY.
	  	 	34	  
		  	 SECTION 7.08 REPLACEMENT OF TRUSTEE.
	  	 	34	  
		  	 SECTION 7.09 SUCCESSOR TRUSTEE BY MERGER.
	  	 	35	  
		  	 SECTION 7.10 ELIGIBILITY; DISQUALIFICATION.
	  	 	36	  
		  	 SECTION 7.11 PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.
	  	 	36	  
	 ARTICLE VIII CONCERNING THE SECURITYHOLDERS.
	  	 	36	  
		  	 SECTION 8.01 EVIDENCE OF ACTION BY SECURITYHOLDERS.
	  	 	36	  
		  	 SECTION 8.02 PROOF OF EXECUTION BY SECURITYHOLDERS.
	  	 	37	  
		  	 SECTION 8.03 WHO MAY BE DEEMED OWNERS.
	  	 	37	  
		  	 SECTION 8.04 CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED.
	  	 	37	  
		  	 SECTION 8.05 ACTIONS BINDING ON FUTURE SECURITYHOLDERS.
	  	 	38	  
	 ARTICLE IX SUPPLEMENTAL INDENTURES.
	  	 	38	  
		  	 SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS.
	  	 	38	  
		  	 SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF SECURITYHOLDERS.
	  	 	39	  
		  	 SECTION 9.03 EFFECT OF SUPPLEMENTAL INDENTURES.
	  	 	40	  
		  	 SECTION 9.04 SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES.
	  	 	41	  
		  	 SECTION 9.05 EXECUTION OF SUPPLEMENTAL INDENTURES.
	  	 	41	  
		  	 SECTION 9.06 PAYMENT FOR CONSENT.
	  	 	41	  

  
 ii 

							
	 ARTICLE X SATISFACTION AND DISCHARGE; DEFEASANCE.
	  	 	42	  
		  	 SECTION 10.01 SATISFACTION AND DISCHARGE.
	  	 	42	  
		  	 SECTION 10.02 DEFEASANCE.
	  	 	43	  
		  	 SECTION 10.03 CONDITIONS TO DEFEASANCE.
	  	 	43	  
		  	 SECTION 10.04 APPLICATION OF TRUST MONEY.
	  	 	45	  
		  	 SECTION 10.05 REPAYMENT TO COMPANY.
	  	 	45	  
		  	 SECTION 10.06 INDEMNITY FOR GOVERNMENTAL OBLIGATIONS.
	  	 	45	  
		  	 SECTION 10.07 REINSTATEMENT.
	  	 	45	  
	 ARTICLE XI IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS.
	  	 	45	  
		  	 SECTION 11.01 NO RECOURSE.
	  	 	45	  
	 ARTICLE XII MISCELLANEOUS PROVISIONS.
	  	 	46	  
		  	 SECTION 12.01 EFFECT ON SUCCESSORS AND ASSIGNS.
	  	 	46	  
		  	 SECTION 12.02 ACTIONS BY SUCCESSOR.
	  	 	46	  
		  	 SECTION 12.03 SURRENDER OF COMPANY POWERS.
	  	 	46	  
		  	 SECTION 12.04 NOTICES.
	  	 	46	  
		  	 SECTION 12.05 GOVERNING LAW.
	  	 	47	  
		  	 SECTION 12.06 TREATMENT OF SECURITIES AS DEBT.
	  	 	47	  
		  	 SECTION 12.07 COMPLIANCE CERTIFICATES AND OPINIONS.
	  	 	47	  
		  	 SECTION 12.08 PAYMENTS ON BUSINESS DAYS.
	  	 	48	  
		  	 SECTION 12.09 CONFLICT WITH TRUST INDENTURE ACT.
	  	 	48	  
		  	 SECTION 12.10 COUNTERPARTS.
	  	 	48	  
		  	 SECTION 12.11 SEPARABILITY.
	  	 	48	  
		  	 SECTION 12.12 ASSIGNMENT.
	  	 	48	  
		  	 SECTION 12.13 WAIVER OF JURY TRIAL.
	  	 	49	  
		  	 SECTION 12.14 FORCE MAJEURE.
	  	 	49	  
	 ARTICLE XIII SUBORDINATION OF SECURITIES.
	  	 	49	  
		  	 SECTION 13.01 SUBORDINATION TERMS.
	  	 	49	  

  
 iii 

 INDENTURE, dated as of
[            ], [        ], between LABORATORY CORPORATION OF AMERICA HOLDINGS, a Delaware corporation (the “Company”), and
[                    ], a [                    ],
as trustee (the “Trustee”): 
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution
and delivery of this Indenture to provide for the issuance of unsecured subordinated debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more
series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee; 

WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has
duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid and legally
binding agreement of the Company, in accordance with 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 covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities or of series thereof. 

ARTICLE I
 DEFINITIONS

 SECTION 1.01 DEFINITIONS OF TERMS. 

The terms defined in this Section (except as in this Indenture otherwise expressly provided or unless the context otherwise requires) for all
purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the
Trust Indenture Act or that are by reference in said Trust Indenture Act defined in the Securities Act (except as herein otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said
Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument. 
 “ADJUSTED TREASURY
RATE” means, with respect to any redemption date, (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated
“H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity
under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term of the Securities of the series being redeemed,
yields for the two 

 
published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a
straight line basis, rounding to the nearest month) or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semi- annual
equivalent yield to maturity of the Comparable Treasury Issue (expressed as a percentage of its principal amount) assuming a price for the Comparable Treasury Issue equal to the Comparable Treasury Price for such redemption date, in each case
calculated on the third Business Day preceding the redemption date, plus the make-whole spread specified in the Board Resolution, Officers’ Certificate or supplemental indenture establishing the terms of the series of Securities being redeemed
in accordance with Section 2.01. 
 “AFFILIATE” means, as applied to any Person, (i) any other Person, directly or
indirectly, Controlling or Controlled by or under direct or indirect common Control with such specified Person or (ii) any Person who is a director or officer (A) of such Person, (B) of any Subsidiary of such Person or (C) of any
Person described in clause (i) above. 
 “AUTHENTICATING AGENT” means an authenticating agent with respect to all or any of
the series of Securities appointed with respect to all or any series of the Securities by the Trustee pursuant to Section 2.10. 

“BANKRUPTCY LAW” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. 

“BOARD OF DIRECTORS” means the Board of Directors of the Company or any duly authorized committee of such Board. 

“BOARD RESOLUTION” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been
duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 
 “BUSINESS DAY”
means a day other than a Legal Holiday. 
 “CAPITALIZED LEASE” means any obligation of a Person to pay rent or other amounts
incurred with respect to real property or equipment acquired or leased by such Person and used in its business that is required to be recorded as a capital lease in accordance with GAAP. 

“CERTIFICATE” means a certificate signed by the principal executive officer, the principal financial officer or the principal
accounting officer of the Company. The Certificate need not comply with the provisions of Section 12.07. 
 “COMMISSION”
means the Securities and Exchange Commission. 

  
 2 

 “COMPANY” means Laboratory Corporation of America Holdings, a corporation duly
organized and existing under the laws of the State of Delaware until a successor replaces it in accordance with Article V and thereafter means the successor and, for purposes of any provision contained herein and required by the TIA, each other
obligor on the Securities. 
 “COMPARABLE TREASURY ISSUE” means the United States Treasury security selected by the Quotation
Agent as having a maturity comparable to the remaining term from the redemption date to the maturity date of the Securities being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Securities. 
 “COMPARABLE TREASURY
PRICE” means, with respect to any redemption date, if clause (ii) of the Adjusted Treasury Rate is applicable, the average of three, or such lesser number as is obtained by the Trustee, Reference Treasury Dealer Quotations for such
redemption date. 
 “CONTROL” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of
the management or policies of a person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlled” and “Controlling” shall have meanings correlative thereto. 

“CORPORATE TRUST OFFICE” means the principal office of the Trustee at which, at any particular time, this corporate trust account
shall be principally administered, which office at the date hereof is located at [                    ]. 

“COVENANT DEFEASANCE OPTION” has the meaning given in Section 10.02. 

“CUSTODIAN” means any receiver, trustee, assignee, liquidator, or similar official under any Bankruptcy Law. 

“DEFAULT” means any event, act or condition which is, or that with notice or lapse of time, or both, would constitute an Event of
Default. 
 “DEFAULTED INTEREST” has the meaning given in Section 2.03. 

“DEPOSITARY” means, with respect to Securities of any series, for which the Company shall determine that such Securities will be
issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in each case, shall be
designated by the Company pursuant to either Section 2.01 or 2.11. 
 “EVENT OF DEFAULT” means, with respect to Securities of
a particular series any event specified in Section 6.01, continued for the period of time, if any, therein designated. 

  
 3 

 “EXCHANGE ACT” means the Securities Exchange Act of 1934, as amended, or any successor
statute or statutes thereto. 
 “GAAP” means generally accepted accounting principles in the United States of America in effect
from time to time, including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements of pronouncements of the Financial Accounting Standards Board
or such other entity as are approved by a significant segment of the accounting profession. 
 “GLOBAL SECURITY” means, with
respect to any series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of
the Depositary or its nominee. 
 “GOVERNMENTAL OBLIGATIONS” means securities that are (i) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America that, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank
(as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of
the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the
custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt. 

“HEREIN”, “HEREOF” and “HEREUNDER”, and other words of similar import, refer to this Indenture as a whole and
not to any particular Article, Section or other subdivision. 
 “INDEBTEDNESS” of any Person means, without duplication
(i) any obligation of such Person for money borrowed, (ii) any obligation of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) any reimbursement obligation of such Person in respect of letters of
credit or other similar instruments which support financial obligations which would otherwise become Indebtedness, and (iv) any obligation of such Person under Capitalized Leases; provided, however, that “Indebtedness” of such Person
shall not include any obligation of such Person to any Subsidiary of such Person or to any Person with respect to which such Person is a Subsidiary. 

“INDENTURE” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into in accordance with the terms hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of

  
 4 

 
and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as
contemplated by Section 2.01. 
 “INTEREST PAYMENT DATE”, when used with respect to any installment of interest on a Security
of a particular series, means the date specified in such Security or in or pursuant to a Board Resolution, in an Officers’ Certificate or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment
of interest with respect to Securities of that series is due and payable. 
 “LEGAL DEFEASANCE OPTION” has the meaning given in
Section 10.02. 
 “LEGAL HOLIDAY” means a Saturday, a Sunday or a day on which commercial banking institutions are not
required to be open in the State of New York. 
 “LIEN” means any mortgage, pledge, hypothecation, encumbrance, lien or other
security interest. 
 “MAKE-WHOLE AMOUNT” means the sum, as determined by a Quotation Agent, of the present values of the
scheduled payments of principal and interest (exclusive of interest to the redemption date) from the redemption date to the maturity date of the Securities being redeemed, in each case discounted to the redemption date on a semi-annual basis,
assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus accrued and unpaid interest on the principal amount of the Securities being redeemed to the redemption date. 

“OFFICERS’ CERTIFICATE” means a certificate signed by the President or a Vice President and by the Treasurer or an Assistant
Treasurer or the Controller or an Assistant Controller or the Secretary or an Assistant Secretary of the Company that is delivered to the Trustee in accordance with the terms hereof. Each such certificate shall include the statements provided for in
Section 12.07, if and to the extent required by the provisions thereof. 
 “OPINION OF COUNSEL” means an opinion in writing
of legal counsel, who may be an employee of or counsel for the Company that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 12.07, if and to the extent
required by the provisions thereof. 
 “ORIGINAL ISSUE DISCOUNT SECURITY” means any Security which provides for an amount less
than the principal amount thereof to be due and payable upon a declaration of acceleration of the Stated Maturity thereof. 
 “PAYING
AGENT” has the meaning given in Section 4.03. 

  
 5 

 “PERSON” means any individual, corporation, limited liability company, partnership,
joint-venture, joint-stock company, unincorporated organization or government or any agency or political subdivision thereof. 

“PREDECESSOR SECURITY” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost,
destroyed or stolen Security. 
 “PRINCIPAL OF” a Security means the principal of the Security plus the premium, if any, payable
on the Security which is due or overdue or is to become due at the relevant time. 
 “QUOTATION AGENT” means the Reference
Treasury Dealer selected by the Company. 
 “REFERENCE TREASURY DEALER” means Banc of America Securities LLC and its successors
and assigns, and two other nationally recognized investment banking firms selected by the Company that are primary U.S. government securities dealers. 

“REFERENCE TREASURY DEALER QUOTATIONS” means, with respect to each Reference Treasury Dealer and any redemption date, the average,
as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York
City time, on the third Business Day preceding such redemption date. 
 “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 treasurer, any trust officer or any other officer or assistant officer of the Trustee customarily performing functions similar to
those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred 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. 
 “SECURITIES” means the debt Securities authenticated and delivered
under this Indenture. 
 “SECURITIES ACT” means the Securities Act of 1933, as amended, or any successor statute or statutes
thereto. 
 “SECURITYHOLDER”, “HOLDER of SECURITIES”, “REGISTERED HOLDER”, “HOLDER” or other similar
term, means the Person or Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture. 

  
 6 

 “SECURITY REGISTER” has the meaning given in Section 2.05. 

“SECURITY REGISTRAR” has the meaning given in Section 2.05. 

“SENIOR INDEBTEDNESS” means the principal, premium (if any) and unpaid interest on all present and future (i) indebtedness of
the Company for borrowed money; (ii) obligations of the Company evidenced by bonds, debentures, notes or similar instruments; (iii) obligations of the Company under (a) interest rate swaps, caps, collars, options and similar
arrangements, (b) any foreign exchange contract, currency swap contract, futures contract, currency option contract, or other foreign currency hedge and (c) credit swaps, caps, floors, collars and similar arrangements;
(iv) indebtedness incurred, assumed or guaranteed by the Company in connection with the acquisition by it or a subsidiary of the Company of any business, properties or assets (except purchase-money indebtedness classified as accounts payable
under U.S. generally accepted accounting principles); (v) all obligations and liabilities (contingent or otherwise) in respect of leases of the Company required, in conformity with U.S. generally accepted accounting principles, to be accounted
for as capitalized lease obligations on the balance sheet of the Company and all obligations and liabilities (contingent or otherwise) under any lease or related document (including a purchase agreement) in connection with the lease or real property
which provides that the Company is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a minimum residual value of the leased property to the lessor and the obligations of the Company
under such lease or related document to purchase or to cause a third party to purchase such leased property; (vi) reimbursement obligations of the Company in respect of letters of credit relating to indebtedness or other obligations of the
Company that qualify as indebtedness or obligations of the kind referred to in clauses (i) through (v) above; and (vii) obligations of the Company under direct or indirect guaranties in respect of, and obligations (contingent or
otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i) through (vi) above, in each case as to clauses
(i) through (vii) above unless in the instrument creating or evidencing the indebtedness or obligation or pursuant to which the same is outstanding provides that (x) such indebtedness or obligation is not senior in right of payment to
the Securities or (y) such indebtedness or obligation is subordinated to any other indebtedness or obligation of the Company, unless such indebtedness or obligation expressly provides that such indebtedness or obligations be senior in right of
payment to the Securities. 
 “STATED MATURITY” means, with respect to any Security of a series, the date specified in such
Security as the fixed date on which the final payment of principal of such Security is due and payable. 
 “SUBSIDIARY” means,
with respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of
its 

  
 7 

 
Subsidiaries, (ii) any general partnership, limited liability company, joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests shall at the
time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner. 

“TRUSTEE” means
[                    ], and, subject to the provisions of Article VII, shall also include its successors and assigns, and, if at any time there is
more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that series.

 “TRUST INDENTURE ACT” and “TIA” means the Trust Indenture Act of 1939, as amended, subject to the provisions of
Sections 9.01, 9.02, and 12.09, as in effect at the date of execution of this instrument. 
 “UNIFORM COMMERCIAL CODE” means the
New York Uniform Commercial Code as in effect from time to time. 
 “VOTING STOCK”, as applied to stock of any Person, means
shares, interests, participations or other equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares,
interests, participations or other equivalents having such power only by reason of the occurrence of a contingency. 
 ARTICLE II 

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 

SECTION 2.01 DESIGNATION AND TERMS OF SECURITIES. 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be
issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution, pursuant to an Officers’ Certificate or pursuant to one or more indentures
supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in an Officers’ Certificate or
established in one or more indentures supplemental hereto: 
 (1) the title of the Security of the series including CUSIP numbers (which
shall distinguish the Securities of the series from all other Securities); 

  
 8 

 (2) any limit upon the aggregate principal amount of the Securities of that 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 that series); 

(3) the date or dates on which the principal of the Securities of the series is payable and the place(s) of payment; 

(4) the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates, if any;

 (5) the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or the
manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date or other method for the determination of holders to whom interest is payable on any such Interest Payment Dates; 

(6) the right, if any, to extend the interest payment periods and the duration of such extension; 

(7) the period or periods within which, the price or prices at 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; 
 (8) the obligation, if any, of the Company to redeem or purchase Securities
of the series or at the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant
to such obligation; 
 (9) any additional or different subordination terms applicable to the Securities of the series; 

(10) the form of the Securities of the series including the form of the Trustee’s certificate of authentication for such series; 

(11) if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the
Securities of the series shall be issuable; 
 (12) any and all other terms with respect to such series (which terms shall not be
inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under U.S. laws or regulations or advisable in connection with the marketing of Securities of that
series; 

  
 9 

 (13) whether the Securities of the series are issuable as a Global Security and, in such case,
the identity of the Depositary for such series; 
 (14) whether the Securities of the series will be convertible into shares of common stock
or other securities of the Company and, if so, the terms and conditions upon which such Securities will be so convertible, including the conversion price and the conversion period; 

(15) if other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable upon
declaration of acceleration of the maturity thereof pursuant to Section 6.01 and the amount that will be deemed to be the principal amount of the Securities for any other purpose; 

(16) any additional or different Events of Default or restrictive covenants provided for with respect to the Securities of the series and any
change in the right of the Trustee or the Holders to declare the principal amount of the Securities of a series due and payable; 
 (17)
whether the Securities of the series shall not be defeasible pursuant to Section 10.02 and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; and 

(18) if other than the currency of the United States of America, the currency, currencies or currency units in which the principal of or any
premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose. 

All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or
pursuant to any such Board Resolution, Officers’ Certificate or in any indentures supplemental hereto. If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. Securities of any particular series
may be issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates
on which such interest may be payable and with different redemption dates. Notwithstanding Section 2.01(2) and unless otherwise expressly provided with respect to a series of Securities, the aggregate principal amount of a series of Securities
may be increased and additional Securities of such series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased. 

SECTION 2.02 FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE. 

The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the
tenor and purport as set forth in one or more 

  
 10 

 
indentures supplemental hereto or as provided in or pursuant to a Board Resolution or in an Officers’ Certificate. The Securities may have such letters, numbers or other marks of
identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any
law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Securities of that series may be listed, or to conform to usage. 

SECTION 2.03 DENOMINATIONS: PROVISIONS FOR PAYMENT. 

The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral
multiple thereof, subject to Section 2.01(11). The Securities of a particular series shall bear interest payable on the dates and at the rates specified or provided for with respect to that series. Except as contemplated by
Section 2.01(18), the principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that
at the time is legal tender for public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. Each Security shall be dated the date of its authentication by the Trustee. Except as contemplated by
Section 2.01(4), interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. Except as contemplated by Section 2.01(5), the interest installment on any Security that is payable, and is
punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular
record date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and
prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. Any interest on any Security that is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder;
and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 
 (1)
The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such
Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same
time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of
the proposed payment, such money when deposited to be held in trust for the benefit 

  
 11 

 
of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be
more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly 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 therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as
it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid,
such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date. 

(2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements
of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment
shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in or pursuant to a Board Resolution, in an Officers’
Certificate or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of
Securities with respect to any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof
shall occur, if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is
the fifteenth day of a month, whether or not such date is a Business Day. Subject to the foregoing provisions of this Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other
Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

SECTION 2.04 EXECUTION AND AUTHENTICATION. 

The Securities shall be signed on behalf of the Company by any of two of its President, any Vice President, its Treasurer, any Assistant
Treasurer, its Secretary or any Assistant Secretary. Signatures may be in the form of a manual or facsimile signature. The Company may use the facsimile signature of any Person who shall have been a President or Vice President thereof, or of any
Person who shall have been the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary thereof, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have
ceased to be the President or a Vice President, or the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company. The Securities may contain such notations, legends or endorsements required by law, stock exchange
rule or usage. A Security shall not be valid until authenticated manually by an authorized signatory of the Trustee, or by an Authenticating Agent. 

  
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The Securities shall be dated the date of their authentication. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder
and that the holder is entitled to the benefits of this Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by its President or any Vice President and its Secretary or any Assistant Secretary, and the Trustee in accordance with such
written order shall authenticate and deliver such Securities. In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be provided with, and (subject to
Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture and that such Securities, 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 legally binding obligations of the Company enforceable in accordance with their terms,
subject to any Bankruptcy Law or other insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles and that applicable laws
and legal requirements (with reasonable and customary exceptions and qualification for such an Opinion of Counsel) in respect to the execution and delivery by the Company of such Securities have been complied with. The Trustee shall not be required
to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably
acceptable to the Trustee. 
 SECTION 2.05 REGISTRATION OF TRANSFER AND EXCHANGE. 

(a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose in
the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, with the same terms, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other
governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange
therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding. 

(b) The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City
and State of New York, or such other location designated by the Company a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall
register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as
herein provided shall be appointed as authorized by or pursuant to a Board Resolution or an Officers’ Certificate (the “Security Registrar”). Upon surrender for transfer of any Security at the office or agency of the Company
designated for such purpose, the Company shall execute, the Trustee shall authenticate 

  
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and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal
amount. All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer,
in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in writing. 

(c) No service charge shall be made for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial
redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto (including the fees and expenses of the Trustee), other than exchanges pursuant to Section 2.06,
Section 3.07 and Section 9.04 not involving any transfer. The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day
of the mailing of a notice of redemption of less than all the outstanding Securities of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any Securities of any
series or portions thereof called for redemption. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof. 

SECTION 2.06 TEMPORARY SECURITIES. 

Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver,
temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series 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 of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary
Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, and the Trustee shall
authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive
Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series
authenticated and delivered hereunder. 
 SECTION 2.07 MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES. 

In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next
succeeding sentence) shall execute, and upon the 

  
 14 

 
Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the
applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted
Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. In
case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in
the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the
satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual
obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and
all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or
stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments
or other securities without their surrender. 
 SECTION 2.08 CANCELLATION. 

All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company
or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of
this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance
with its standard procedures and deliver a certificate of disposition to the Company upon its request therefor. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction
of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

  
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 SECTION 2.09 BENEFITS OF INDENTURE. 

Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties
hereto and the holders of the Securities (and, with respect to the provisions of Section 4.05, the holders of Senior Indebtedness) any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant,
condition or provision herein contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities (and, with respect to the provisions of Section 4.05, the holders of
Senior Indebtedness). 
 SECTION 2.10 AUTHENTICATING AGENT. 

So long as any of the Securities of any series remain outstanding there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption thereof, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities by
the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently
reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is
subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. Any Authenticating Agent may at any time
resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such
Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor
Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 

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

  
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 SECTION 2.11 GLOBAL SECURITIES. 

(a) If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global
Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that 

(1) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all or a portion of the outstanding
Securities of such series, 
 (2) shall be registered in the name of the Depositary or its nominee, 

(3) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, and 

(4) shall bear a legend substantially to the following effect: 

“Except as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to
the Depositary, another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 
 (b)
Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part and in the manner provided in Section 2.05, only to the Depositary for such series, another nominee of the
Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary. 

(c) If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary
for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the
Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to
Section 2.05, the Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global
Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11
shall no longer apply to the Securities of such series. In such event the Company will execute and subject to Section 2.05, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will
authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange

  
 17 

 
for such Global Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be
canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary,
pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.

 SECTION 2.12 CUSIP NUMBERS. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify
the Trustee in writing of any change in the “CUSIP” numbers. 
 SECTION 2.13 OUTSTANDING SECURITIES. 

Securities of a series outstanding at any time are all Securities of such series authenticated by the Trustee except for those canceled by it,
those delivered to it for cancellation and those described in this Section 2.13 as not outstanding. Subject to the provisions of Section 8.04, a Security of a series does not cease to be outstanding because the Company or an Affiliate of
the Company holds the Security. 
 If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee
and the Company receive proof satisfactory to them that the replaced Security is held by a protected person (as such term is defined in Section 8-303 of the Uniform Commercial Code). 

If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or at Stated Maturity money
sufficient to pay all principal and interest payable on that date with respect to the Securities of a series (or a portion thereof) to be redeemed or maturing, as the case may be, then on and after that date such Securities (or portions thereof)
cease to be outstanding and interest on them ceases to accrue. 

  
 18 

 ARTICLE III 

REDEMPTION OF SECURITIES 

SECTION 3.01 REDEMPTION. 

(a) The Company may redeem the Securities of any series issued hereunder on and after the dates and as set forth herein and in accordance with
the terms established for such series pursuant to Section 2.01 hereof. 
 (b) Unless otherwise provided for in Section 2.01
hereof, the Company may redeem the Securities of any series at any time at a redemption price equal to the greater of (1) 100% of the principal amount of the Securities being redeemed plus accrued and unpaid interest to the redemption date or
(2) the Make-Whole Amount for the Securities of the series being redeemed. 
 SECTION 3.02 NOTICES TO TRUSTEE. 

If the Company elects to redeem Securities of any series issued hereunder pursuant to Section 3.01, it shall notify the Trustee in
writing of the redemption date and the principal amount of Securities to be redeemed. The Company shall give each notice to the Trustee provided for in this Section at least 45 days before the redemption date unless the Trustee consents to a shorter
period. Such notice shall be accompanied by an Officers’ Certificate and an Opinion of Counsel to the effect that such redemption will comply with the conditions herein. 

SECTION 3.03 SELECTION OF SECURITIES TO BE REDEEMED. 

If fewer than all the Securities of any series are to be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot
or by a method that complies with applicable legal and securities exchange requirements, if any, and that the Trustee in its sole discretion shall deem to be fair and appropriate and in accordance with methods generally used at the time of selection
by fiduciaries in similar circumstances. The Trustee shall make the selection from outstanding Securities of a series not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities that have
denominations larger than $1,000. Securities and portions of them the Trustee selects to be redeemed shall be in principal amounts of $1,000 or a whole multiple of $1,000. Provisions of this Indenture that apply to Securities called for redemption
also apply to portions of Securities called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be redeemed. 

SECTION 3.04 NOTICE OF REDEMPTION. 

At least 30 days but not more than 60 days before a date for redemption of Securities of any series, the Company shall mail a notice of
redemption by first-class mail to each Holder of Securities to be redeemed at such Holder’s registered address. 

  
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 The notice shall identify the Securities to be redeemed (including CUSIP numbers) and shall
state: 
 (1) the redemption date; 

(2) a description of how the redemption price will be calculated; 

(3) the name and address of the Paying Agent; 

(4) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(5) if fewer than all the outstanding Securities of any series are to be redeemed, the identification and principal amounts of the particular
Securities to be redeemed; 
 (6) that, unless the Company defaults in making such redemption payment, interest on Securities (or portion
thereof) called for redemption ceases to accrue on and after the redemption date; and 
 (7) that no representation is made as to the
correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Securities. 
 The Trustee shall give the
notice of redemption in the Company’s name and at the Company’s expense. The Company shall provide the Trustee with the information required by this Section. In such event the Company shall give the Trustee 10 days (or such shorter notice
as shall be agreed to by the Trustee) prior notice prior to the delivery of the notice. 
 SECTION 3.05 EFFECT OF NOTICE OF REDEMPTION.

 Once notice of redemption is mailed, Securities called for redemption become due and payable on the redemption date and at the
redemption price stated in the notice. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, which shall include accrued interest to the redemption date (subject to the right of Holders of
record on the relevant record date to receive interest due on the related interest payment date). Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 

SECTION 3.06 DEPOSIT OF REDEMPTION PRICE. 

On the Business Day next preceding a redemption date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary is
the Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of all Securities to be redeemed on such date other than Securities or portions of Securities called for redemption which have been delivered by the
Company to the Trustee for cancellation. On or after the redemption date, 

  
 20 

 
interest shall cease to accrue on such Securities or portions thereof called for redemption so long as the Company has deposited with the Paying Agent funds sufficient to pay the principal of,
plus accrued but unpaid interest, if any, on the Securities to be redeemed. 
 SECTION 3.07 SECURITIES REDEEMED IN PART. 

Upon surrender of a Security that is redeemed in part, the Company shall execute and the Trustee shall authenticate for the Holder (at the
Company’s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 
 ARTICLE IV

 COVENANTS 

SECTION 4.01 PAYMENT OF SECURITIES. 

The Company shall promptly pay the principal of and interest on the Securities on the dates and in the manner provided herein and established
with respect to such Securities and in this Indenture. Principal and interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in accordance with this Indenture money sufficient to pay all principal and
interest then due. 
 Notwithstanding anything to the contrary contained in this Indenture, the Company may, to the extent it is required to
do so by law, deduct or withhold income or other similar taxes imposed by applicable law from principal or interest payments hereunder. 

The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and subject to Section 2.11, it
shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
 SECTION 4.02 MAINTENANCE OF OFFICE OR
AGENCY FOR REGISTRATION OF TRANSFER, EXCHANGE AND PAYMENT OF SECURITIES. 
 So long as any of the Securities shall remain outstanding,
the Company shall maintain an office or agency in the Borough of Manhattan, The City of New York, State of New York, where the Securities of a series may be surrendered for exchange or registration of transfer as in this Indenture provided, and
where notices and demands to or upon the Company in respect to such Securities may be served, and where such Securities may be presented or surrendered for payment. The Company may also from time to time designate one or more other offices or
agencies where Securities of a series may be presented or surrendered for any and all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in the Borough of Manhattan, The City of New York, State of New York for such purposes. The Company shall give to the Trustee prompt written notice of the location of

  
 21 

 
any such office or agency and of any change of location thereof. The Company initially appoints the Trustee, [NAME OF TRUSTEE], [ADDRESS OF TRUSTEE], for each of said purposes. In case the
Company shall fail to maintain any such office or agency or shall fail to give such notice of the location or of any change in the location thereof, such surrenders, presentations and demands may be made and notices may be served at the principal
office of the Trustee, and the Company hereby appoints the Trustee its agent to receive at the aforesaid office all such surrenders, presentations, notices and demands. The Trustee shall give the Company prompt notice of any change in location of
the Trustee’s principal office. 
 SECTION 4.03 PROVISION AS TO PAYING AGENT. 

(a) If the Company shall appoint one or more paying agents for all or any series of the Securities (each a “Paying Agent” and
collectively, the “Paying Agents”) other than the Trustee, it shall cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall undertake, subject to the provisions of this Section 4.03, 

(1) that it shall hold all sums held by it as such agent for the payment of the principal of or interest on the Securities of any series such
sums which have been paid to it by the Company (or by any other obligor on the Securities) in trust for the benefit of the Holders of the Securities of such series and shall notify the Trustee of the receipt of sums to be so held, 

(2) that it shall give the Trustee notice of any failure by the Company (or by any other obligor on the Securities) to make any payment of the
principal of or interest on the Securities of any series when the same shall be due and payable, 
 (3) that it shall at any time during the
continuance of any Event of Default specified in Section 6.01(1) or 6.01(2), upon the written request of the Trustee, deliver to the Trustee all sums so held in trust by it, and 

(4) acknowledge, accept and agree to comply in all aspects with the provisions of this Indenture relating to the duties, rights and
liabilities of such Paying Agent. 
 (b) If the Company shall not act as its own Paying Agent, it shall, by the opening of business (New
York City time) on each due date of the principal and interest on any Security, deposit with such Paying Agent a sum in same day funds sufficient to pay the principal of or interest so becoming due, such sum to be held in trust for the benefit of
the Holders of Securities of a series entitled to such principal of or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee of its failure so to act. 

(c) If the Company shall act as its own Paying Agent, it shall, by the opening of business (New York City time) on each due date of the
principal and interest on any Security, set aside, segregate and hold in trust for the benefit of the persons entitled thereto, a sum sufficient to pay such principal or interest so becoming due and shall notify the Trustee of any failure to take
such action. 

  
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 (d) Anything in this Section 4.03 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by it, or any Paying Agent hereunder, as required by this Section 4.03,
such sums to be held by the Trustee upon the trusts herein contained. 
 (e) Anything in this Section 4.03 to the contrary
notwithstanding, the agreement to hold sums in trust as provided in this Section 4.03 is subject to the provisions of Sections 10.05 and 10.07. 

SECTION 4.04 APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, shall appoint, in the manner provided in
Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder. 
 SECTION 4.05 WHEN COMPANY MAY MERGE OR TRANSFER
ASSETS. 
 The Company shall not, while any of the Securities remain outstanding, consolidate or merge with or into any Person, or sell,
lease, convey or otherwise dispose of all or substantially all of its assets, or assign any of its obligations under this Indenture or any series of Securities, to any Person, unless: 

(1) the Person formed by or surviving such consolidation or merger (if other than the Company), or to which such sale, lease, conveyance or
other disposition or arrangement shall be made (collectively, the “Successor Company”), is a corporation organized and existing under the laws of the United States or any State thereof or the District of Columbia and the Successor Company
assumes by supplemental indenture in a form reasonably satisfactory to the Trustee all of the obligations of the Company under this Indenture and under the Securities; 

(2) immediately after giving effect to such transaction no Default shall have occurred and be continuing; and 

(3) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. 
 The Successor Company shall be the
successor to the Company and shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture, and the predecessor Company (except in the case of a lease) shall be released from the obligation to
pay the principal of and interest on the Securities. 

  
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 SECTION 4.06 STATEMENT BY OFFICERS AS TO DEFAULT. 

The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate,
stating that in the course of the performance by the signers of their duties as Responsible Officers of the Company they would normally have knowledge of any Default and whether or not the signers know of any Default or Event of Default that
occurred during such period. If they do, the certificate shall describe the Default or Event of Default, its status and what action the Company is taking or proposes to take with respect thereto. The Company also shall comply with TIA
Section 314(a)(4). 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). 

ARTICLE V 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

SECTION 5.01 COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS. 

The Company will furnish or cause to be furnished to the Trustee 

(1) not more than 15 days after each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably
require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in
any respect from the most recent list furnished to the Trustee by the Company, and 
 (2) at such other times as the Trustee may request in
writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no such list need
be furnished for any series for which the Trustee shall be the Security Registrar. 
 SECTION 5.02 PRESERVATION OF INFORMATION;
COMMUNICATIONS WITH SECURITYHOLDERS. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its
capacity as Security Registrar (if acting in such capacity). 

  
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 (b) The Trustee may destroy any list furnished to it as provided in Section 5.01 upon
receipt of a new list so furnished. 
 (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act
with other Securityholders with respect to their rights under this Indenture or under the Securities. 
 SECTION 5.03 REPORTS BY THE
COMPANY. 
 Without regard to whether the Company is subject to the reporting requirements of Section 13 or 15(d) of the
Exchange Act, the Company shall file with the Commission (so long as permitted by the Commission) and provide the Trustee and Securityholders with such annual reports and such information, documents and other reports as are specified in Sections 13
and 15(d) of the Exchange Act and applicable to a U.S. corporation subject to such Sections, such information, documents and other reports to be so filed and provided at the times specified for the filing of such information, documents and reports
under such Sections. The Company also shall comply with the other provisions of TIA Section 314(a). 
 ARTICLE VI 

DEFAULTS AND REMEDIES 

SECTION 6.01 EVENTS OF DEFAULT. 

An “Event of Default” occurs with respect to a series of Securities if: 

(1) the Company defaults in any payment of interest on any of the Securities of that series when the same becomes due and payable and such
default continues for a period of 30 days; 
 (2) the Company defaults in the payment of the principal of any of the Securities of that
series when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon declaration or otherwise; 
 (3) the
Company fails to comply with Section 4.05; 
 (4) the Company fails to comply with any of its agreements in the Securities of that
series or this Indenture (other than those referred to in clauses (1), (2) or (3) above) and such failure continues for 90 days after the notice specified below; 

(5) any default or event of default under any Indebtedness of the Company or any of its Subsidiaries (other than any Indebtedness of the
Company or any Subsidiary to the seller of a business or asset incurred in connection with the purchase thereof) which default or event of default results in at least $50.0 million of aggregate principal amount of such Indebtedness being declared
due and payable prior to maturity (the “cross acceleration provision”); 

  
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 (6) failure by the Company or any of its Subsidiaries to pay at maturity or otherwise when due
(after giving effect to any applicable grace period) at least $50.0 million aggregate principal amount of Indebtedness at any one time; 

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

 

	 	(A)	commences a voluntary case; 

  

	 	(B)	consents to the entry of an order for relief against it in an involuntary case; 

  

	 	(C)	consents to the appointment of a Custodian of it or for any substantial part of its property; 

  

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

  

	 	(E)	takes any comparable action under any foreign laws relating to insolvency; or 

 (8) a court of
competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (A) is for relief against the Company in
an involuntary case; 
 (B) appoints a Custodian of the Company or for any substantial part of its property; or 

(C) orders the winding up or liquidation of the Company; 

or any similar relief is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for 60 days. 

The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary
or is 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. No Event of Default with respect to a single series of Securities issued
hereunder (and under or pursuant to any Supplemental Indenture, Officers’ Certificate or Board Resolution) specific to such series shall constitute an Event of Default with respect to any other series of Securities unless otherwise provided in
this Indenture or any Supplemental Indenture, Officers’ Certificate or Board Resolution with respect to any other series of Securities. 

  
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 Notwithstanding the foregoing, a default under Section 6.01(4) shall not constitute an Event
of Default until the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities of such series notify the Company of the default and the Company does not cure such default within the time specified in
Section 6.01(4) after receipt of such notice. Such notice must specify the default, demand that it be remedied and state that such notice is a “Notice of Default.” 

The Company shall deliver to the Trustee, promptly after the occurrence thereof, written notice in the form of an Officers’ Certificate
of any Event of Default under clauses (3), (5), (6), (7) and (8) and, within 60 days after the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under
clause (4), its status and what action the Company is taking or proposes to take with respect thereto. 
 SECTION 6.02 ACCELERATION.

 If an Event of Default (other than an Event of Default specified in Section 6.01(7) or (8)) occurs and is continuing, the
Trustee by notice to the Company, or the Holders of at least 25% in outstanding principal amount of the Securities of such series by notice to the Company and the Trustee, may declare the principal of and accrued and unpaid interest on all the
Securities of such series to be due and payable. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in Section 6.01(7) or (8) occurs, the principal of and accrued and
unpaid interest on all the Securities of such series shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the
Securities of such series outstanding by notice to the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except
nonpayment of principal or interest that has become due solely because of acceleration. No such rescission shall affect any subsequent Default or Event of Default or impair any right consequent thereto. 

SECTION 6.03 OTHER REMEDIES. 

If an Event of Default occurs and is continuing with respect to a series of Securities, the Trustee may pursue any available remedy to collect
the payment of principal of or interest on the Securities of such series or to enforce the performance of any provision of the Securities of such series or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities of such series or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative. 

  
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 SECTION 6.04 WAIVER OF PAST DEFAULTS. 

The Holders of a majority in outstanding principal amount of the Securities of such series by notice to the Trustee may waive an existing
Default and its consequences except (i) a Default in the payment of the principal of or interest on a Security or (ii) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder
affected. When a Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. 

SECTION 6.05 CONTROL BY MAJORITY. 

The Holders of a majority in outstanding principal amount of the Securities of such series may direct the time, method and place of conducting
any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01,
that the Trustee reasonably determines is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not
inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

SECTION 6.06 LIMITATION ON SUITS. 

Except to enforce the right to receive payment of principal or interest when due, no Holder of Securities of a particular series may pursue
any remedy with respect to this Indenture or the Securities of such series unless: 
 (1) the Holder gives to the Trustee written notice
stating that an Event of Default is continuing; 
 (2) the Holders of at least 25% in outstanding principal amount of the Securities of such
series make a written request to the Trustee to pursue the remedy; 
 (3) such Holder or Holders offer to the Trustee reasonable security or
indemnity satisfactory to it against any loss, liability or expense; 
 (4) the Trustee does not comply with the request within 60 days
after receipt of the request and the offer of security or indemnity; and 
 (5) the Holders of a majority in principal amount of the
Securities of such series do not give the Trustee a direction inconsistent with the request during such 60-day period. 
 A Holder may not
use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. 

  
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 SECTION 6.07 RIGHTS OF HOLDERS TO RECEIVE PAYMENT. 

Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the
Securities held by such Holder, on or after the respective due dates expressed in the Securities, or to bring 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 6.08 COLLECTION SUIT BY TRUSTEE. 

If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own
name and as Trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07. 

SECTION 6.09 TRUSTEE MAY FILE PROOFS OF CLAIM. 

The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee and the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or their respective creditors or properties and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any
election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent
to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under
Section 7.07. 
 SECTION 6.10 PRIORITIES. 

If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or property in the following order: 

FIRST: to the Trustee for amounts due under Section 7.07; 

SECOND: to Holders for amounts due and unpaid on the Securities of such series for principal and interest, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Securities of such series for principal and interest, respectively; and 

THIRD: to the Company. 

Notwithstanding anything to the contrary in Section 2.03, the Trustee may fix a record date and payment date for any payment to Holders
pursuant to this Section 6.10. At least 15 days before such record date, the Company shall mail to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

  
 29 

 SECTION 6.11 UNDERTAKING FOR COSTS. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder
pursuant to Section 6.07 or a suit by Holders of more than 10% in outstanding principal amount of the Securities of such series. 

SECTION 6.12 WAIVER OF STAY OR EXTENSION LAWS. 

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

CONCERNING THE TRUSTEE 

SECTION 7.01 DUTIES OF TRUSTEE. 

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

(b) Except during the continuance of an Event of Default: 

(1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad faith on its part, the
Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case
of certificates or opinions specifically required by any provision hereof to be 

  
 30 

 
furnished to it, 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 any 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: 
 (1) this paragraph does not limit the
effect of Section 7.01(b); 
 (2) 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 
 (3) 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 6.05. 

(d) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. 

(e) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(f) No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the
performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured
to it. 
 (g) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this Section 7.01 and to the provisions of the TIA. 
 SECTION 7.02 RIGHTS OF TRUSTEE.

 (a) The Trustee may conclusively rely on any document (whether in original or facsimile form) 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 the Officers’
Certificate or Opinion of Counsel. 

  
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 (c) The Trustee may act through its attorneys and agents and shall not be responsible for the
willful misconduct or negligence of any attorney or agent appointed with due care. 
 (d) The Trustee shall not be liable for any action it
takes or omits to take in good faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating to this
Indenture and the Securities shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

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

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

(i) 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. 

(j) Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a company order and any resolution of the
Board of Directors may be sufficiently evidenced by a Board Resolution. 
 (k) The Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee,
in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further 

  
 32 

 
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. 
 SECTION 7.03 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, co-registrar or co-paying agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 

SECTION 7.04 TRUSTEE’S DISCLAIMER. 

The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Securities, it
shall not be accountable for the Company’s use of the proceeds from the Securities, it shall not be responsible for the use or application of any money received by any Paying Agent (other than itself as Paying Agent), and it shall not be
responsible for any statement in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of authentication. 

SECTION 7.05 NOTICE OF DEFAULTS. 

If a Default or Event of Default occurs and is continuing and it is known to a Responsible Officer of the Trustee, the Trustee shall mail to
each Holder notice of the Default or Event of Default within 60 days after it occurs or promptly upon the Trustee’s attaining knowledge of such Default or Event of Default, whichever comes first. Except in the case of a Default or Event of
Default in payment of principal of, or interest on, any Security, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Holders. 

SECTION 7.06 REPORTS BY TRUSTEE TO HOLDERS. 

As promptly as practicable after each May 15 beginning with the May 15 following the date of this Indenture, and in any event prior
to July 15 in each year, if required by TIA Section 313, the Trustee shall mail to each Holder a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply with TIA
Section 313(b). The Trustee shall also transmit by mail all reports required by TIA Section 313(c). 
 A copy of each report at
the time of its mailing to Holders shall be filed by the Company with the Commission and each stock exchange (if any) on which the Securities are listed. The Company agrees to notify promptly the Trustee whenever the Securities become listed on any
stock exchange and of any delisting thereof. 

  
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 SECTION 7.07 COMPENSATION AND INDEMNITY. 

The Company shall pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation for its services. The
Trustee’s compensation shall not be limited by any law on compensation of a Trustee of an express trust. The Company shall reimburse the Trustee upon request for all out-of-pocket expenses incurred or made by it, including costs of collection,
costs of preparing and reviewing reports, certificates and other documents, costs of preparation and mailing of notices to Holders and reasonable fees and expenses of counsel retained by the Trustee in addition to the compensation for its services.
Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Company shall indemnify and hold harmless the Trustee against any and all loss,
liability, claim, damage or expense (including reasonable attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder, including the costs and expenses of
enforcing this Indenture (including this Section 7.07) and of defending itself against any claims (whether asserted by any Holder, the Company or otherwise). The Trustee, upon a Responsible Officer receiving written notice thereof, shall notify
the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee may have separate
counsel and the Company shall pay the fees and expenses of such counsel. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful misconduct,
negligence or bad faith. 
 To secure the Company’s payment obligations in this Section 7.07, the Trustee shall have a Lien prior
to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. The Trustee’s right to receive payment of any amounts due under
this Section 7.07 shall not be subordinate to any other liability or indebtedness of the Company. 
 The Company’s payment
obligations pursuant to this Section 7.07 shall survive the discharge of this Indenture and the resignation or removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(7) or
(8) with respect to the Company, the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 

SECTION 7.08 REPLACEMENT OF TRUSTEE. 

The Trustee may resign at any time by so notifying the Company. The Holders of a majority in outstanding principal amount of the Securities of
a series may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee as to such series. The Company shall remove the Trustee if: 

(1) the Trustee fails to comply with Section 7.10; 

(2) the Trustee is adjudged bankrupt or insolvent; 

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

(4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns, is removed by the Company, is removed by the Holders of a majority in outstanding principal amount of the Securities
of a series and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall
promptly appoint a successor Trustee. 
 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. The successor Trustee shall mail a
notice of its succession to the Securityholders. The retiring Trustee shall (upon payment of its charges) promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. 

If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of 10% in outstanding principal amount of the Securities of a series at the expense of the Company may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of competent jurisdiction for the removal of
the Trustee and the appointment of a successor Trustee. 
 Notwithstanding the replacement of the Trustee pursuant to this
Section 7.08, the Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 

SECTION 7.09 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 or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be the successor Trustee. 

If at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this
Indenture, any of the Securities of a series shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Securities so authenticated; and
if at that time any of the Securities of a series shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in
all such cases such certificates shall have the full force which it is anywhere in the Securities of a series or in this Indenture provided that the certificate of the Trustee shall have. 

  
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 SECTION 7.10 ELIGIBILITY; DISQUALIFICATION. 

The Trustee shall at all times satisfy the requirements of TIA Section 310(a). The Trustee shall have a combined capital and surplus of
at least $50 million as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(1) 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 TIA Section 310(b)(1) are met. 

SECTION 7.11 PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY. 

The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who
has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 
 ARTICLE VIII 

CONCERNING THE SECURITYHOLDERS 

SECTION 8.01 EVIDENCE OF ACTION BY SECURITYHOLDERS. 

Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of
such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in Person or by agent or proxy appointed
in writing. If the Company shall solicit from the Securityholders of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate,
fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If
such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may be given before or after the record date, but only the Securityholders of record at the close of business on the record date
shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the outstanding Securities of that series shall be computed as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders
on the record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 

  
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 SECTION 8.02 PROOF OF EXECUTION BY SECURITYHOLDERS. 

Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require
notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 

(a) The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee.

 (b) The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar
thereof. 
 (c) The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary. 

SECTION 8.03 WHO MAY BE DEEMED OWNERS. 

Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security
Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership
or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of (and premium, if any) and (subject to Section 2.03) interest on such Security and for all other
purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 

SECTION 8.04 CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED. 

In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any
direction, consent or waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common
control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be
protected in relying on any such direction, consent or waiver, only Securities of such series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith
may be regarded as outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with 

  
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respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other
obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Also, subject to the foregoing, only Securities of a series outstanding at the time shall be
considered in any such determination. 
 SECTION 8.05 ACTIONS BINDING ON FUTURE SECURITYHOLDERS. 

At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the
holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be
included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, 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 Security issued in exchange therefor, on registration of transfer
thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular
series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 

ARTICLE IX 

SUPPLEMENTAL INDENTURES 

SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS. 

In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from time to time and at any
time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following purposes: 

(1) to cure any ambiguity, defect, or inconsistency herein, or in the Securities of any series; 

(2) to comply with Section 4.05; 

(3) to provide for uncertificated Securities in addition to or in place of certificated Securities; 

  
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 (4) to add to the covenants of the Company for the benefit of the holders of all or any series of
Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred
upon the Company or to add any additional Events of Default for the benefit of the holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that
such additional Events of Default are expressly being included solely for the benefit of such series); 
 (5) to make any change that does
not adversely affect the rights of any Securityholder in any material respect; 
 (6) to provide for the issuance of and establish the form
and terms and conditions of the Securities of any series as provided in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the
rights of the holders of any series of Securities; or 
 (7) 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 7.08. 
 The Trustee is hereby authorized to join with the Company in the execution of
any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by the provisions of this Section
may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time outstanding, notwithstanding any of the provisions of Section 9.02. 

SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF SECURITYHOLDERS. 

With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the
Securities of each series affected by such supplemental indenture or indentures at the time outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) 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 not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent
of the holders of each Security then outstanding and affected thereby: 
 (1) change the maturity of the principal of, or any installment of
principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any
other Security which would be due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01 or change the coin or currency in which any Security or any premium or interest thereon is payable, or impair the
right to institute suit for the enforcement of any such payment on or after the maturity thereof (or, in the case of redemption, on or after the redemption date), or 

  
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 (2) reduce the percentage in principal amount of the outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver of certain defaults hereunder and their consequences provided for in this Indenture, or 

(3) modify any of the provisions of this Section or Section 6.04 relating to waivers of default, except to increase any such percentage
or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the holder of each outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the
consent of any holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section, or the deletion of this proviso, in accordance with the requirements of Sections 7.08 and 9.01(8); or 

(4) modify the provisions of this Indenture with respect to the subordination of such Security in a manner adverse to the holder thereof. 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular series of Securities, or which modifies the rights of the holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the holders of Securities of any other series. It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but
it shall be sufficient if such consent shall approve the substance thereof. 
 SECTION 9.03 EFFECT OF SUPPLEMENTAL INDENTURES. 

Upon the execution of any supplemental indenture pursuant to the provisions of this Article, this Indenture shall, with respect to such
series, 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 the
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 9.04 SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES. 

Securities of any series, affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture
pursuant to the provisions of this Article, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange upon which such series may be listed, as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors of the Company, 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 Securities of that series then outstanding. 

SECTION 9.05 EXECUTION OF SUPPLEMENTAL INDENTURES. 

Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon
the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions of
Section 7.01, shall be provided with an Opinion of Counsel and Officers’ Certificate as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this
Article and that it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such Opinion of Counsel and Officers’ Certificate need not be provided in connection with the execution
of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the
execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit at the expense of the Company by mail, first class postage prepaid, a notice, setting forth in general
terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses appear upon the Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental indenture. 
 SECTION 9.06 PAYMENT FOR CONSENT 

Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way
of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of the Securities of a series or this Indenture with respect to the Securities of a series unless such

  
 41 

 
consideration is offered to be paid to all Holders of a series of Securities that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such
consent, waiver or agreement. 
 ARTICLE X 

SATISFACTION AND DISCHARGE; DEFEASANCE 

SECTION 10.01 SATISFACTION AND DISCHARGE. 

This Indenture will be discharged and will cease to be of further effect with respect to a series of Securities (except as to any surviving
rights of registration of transfer or exchange of such series of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture
with respect to such series, when: 
 (1) either (A) all Securities of that series theretofore authenticated and delivered (other than
(i) any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and (ii) Securities for whose payment money or noncallable Governmental Obligations have
theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.05) have been delivered to the Trustee for cancellation; or
(B) all Securities of such series not theretofore delivered to the Trustee for cancellation (i) have become due and payable, or (ii) will by their terms become due and payable within one year, or (iii) are to be called for
redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds in trust for such purpose (x) moneys in an
amount, or (y) noncallable Governmental Obligations the scheduled principal of and interest on which in accordance with their terms will provide, not later than the due date of any payment, money in an amount, or (z) a combination thereof,
sufficient, in the case of (y) or (z), in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, at maturity or upon redemption,
all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be; 

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

(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all the conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series of Securities have been complied with. Notwithstanding the satisfaction and discharge of this Indenture with respect to a series
of Securities, the obligations of the Trustee under Section 7.07 and, if money and or securities shall have been deposited with the Trustee pursuant to subclause (iii) of clause (1) of this Section, the obligations of the Trustee
under Sections 10.04 and 10.05 shall survive such satisfaction and discharge. 

  
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 SECTION 10.02 DEFEASANCE. 

(a) Subject to Sections 10.02(b) and 10.03, the Company at any time may terminate (1) all of its obligations under a particular series
of Securities and under this Indenture with respect to that series of Securities (“legal defeasance option”) or (2) with respect to a particular series of Securities, its obligations under Sections 2.01(16), 9.01(4) and 9.01(7)
(“covenant defeasance option”); provided, however, no deposit under this Article X shall be effective to terminate the obligations of the Company under a series of Securities or this Indenture with respect to that series of Securities
prior to 91 days following any such deposit. The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. 

If the Company exercises its legal defeasance option, payment of the Securities may not be accelerated because of an Event of Default. If the
Company exercises its covenant defeasance option, payment of the Securities may not be accelerated because of an Event of Default specified in Sections 6.01(4) due to a violation of Sections 2.01(16), 9.01(4) and 9.01(7). 

Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in writing the discharge
of those obligations that the Company terminates. 
 (b) The Company’s obligations in Sections 2.05, 2.06, 2.07, 7.07 and 7.08 and
this Article X shall survive until the Securities have been paid in full. Thereafter, the Company’s obligations in Sections 7.07 and 10.05 shall survive. 

SECTION 10.03 CONDITIONS TO DEFEASANCE. 

The Company may exercise its legal defeasance option or its covenant defeasance option with respect to a series of Securities only if: 

(1) the Company irrevocably deposits in trust with the Trustee money or Governmental Obligations for the payment of principal of and interest
on that series of the Securities to Stated Maturity or redemption, as the case may be; 
 (2) the Company delivers to the Trustee a
certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited Governmental Obligations plus any deposited money
without reinvestment will provide cash at such times and in such amounts as will be sufficient to pay principal and interest when due on all the Securities of that series to Stated Maturity or redemption, as the case may be; 

  
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 (3) 91 days pass after the deposit is made and during the 91-day period no Default specified in
Sections 6.01(7) or (8) occurs which is continuing at the end of the periods; 
 (4) the deposit does not constitute a default under
any other agreement binding on the Company; 
 (5) the Company delivers to the Trustee an Opinion of Counsel to the effect that the trust
resulting from the deposit does not constitute, or is qualified as, a regulated investment company under the Investment Company Act of 1940; 

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

(8) the Securityholders shall have a perfected security interest under applicable law in the cash or Governmental Obligations deposited
pursuant to Section 10.03(1) above; 
 (9) the Company shall have delivered to the Trustee an Opinion of Counsel, in form and substance
reasonably satisfactory to the Trustee, to the effect that, after the passage of 91 days following the deposit, the trust funds shall not be subject to any applicable bankruptcy, insolvency, reorganization or similar law affecting creditors’
rights generally; 
 (10) such defeasance shall not cause the Trustee to have a conflicting interest with respect to any securities of the
Company; and 
 (11) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the defeasance and discharge of the Securities and this Indenture as contemplated by this Article X have been complied with. 

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in
accordance with Article III. 

  
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 SECTION 10.04 APPLICATION OF TRUST MONEY. 

The Trustee shall hold in trust money or Governmental Obligations deposited with it pursuant to this Article X. It shall apply the deposited
money and the money from Governmental Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities. 

SECTION 10.05 REPAYMENT TO COMPANY. 

The Trustee and the Paying Agent shall promptly turn over to the Company upon request any excess money or securities held by them on account
of any series of Securities in accordance with this Article X upon payment of all principal of and interest on the Securities of that series. Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company
upon request any money held by them for the payment of principal of or interest on the Securities that remains unclaimed for two years, and, thereafter, Securityholders entitled to the money must look to the Company for payment as general creditors.

 SECTION 10.06 INDEMNITY FOR GOVERNMENTAL OBLIGATIONS. 

The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited
Governmental Obligations or the principal and interest received on such Governmental Obligations. 
 SECTION 10.07 REINSTATEMENT.

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

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

SECTION 11.01 NO RECOURSE. 

No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or
otherwise in respect thereof, shall be had against 

  
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any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any
such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued
hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or
successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and
that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as
such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 
 ARTICLE
XII 
 MISCELLANEOUS PROVISIONS 

SECTION 12.01 EFFECT ON SUCCESSORS AND ASSIGNS. 

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. 
 SECTION 12.02 ACTIONS BY SUCCESSOR. 

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

SECTION 12.03 SURRENDER OF COMPANY POWERS. 

The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the
powers reserved to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation. 

SECTION 12.04 NOTICES. 

Except as otherwise expressly provided herein any notice, instruction, request 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 

  
 46 

 
deposited first class postage prepaid in a post-office letterbox addressed (until another address is filed in writing by the Company with the Trustee), as follows: 358 South Main Street,
Burlington, North Carolina 27215. Any notice, election, request or demand by the Company or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the
Corporate Trust Office of the Trustee. 
 SECTION 12.05 GOVERNING LAW. 

This Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes
shall be construed in accordance with the laws of said State, but without giving effect to the applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 

SECTION 12.06 TREATMENT OF SECURITIES AS DEBT. 

It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this
Indenture shall be interpreted to further this intention. 
 SECTION 12.07 COMPLIANCE CERTIFICATES AND OPINIONS. 

(a) 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 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 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. 
 (b) Each certificate or opinion provided for
in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include 

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

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

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

  
 47 

 SECTION 12.08 PAYMENTS ON BUSINESS DAYS. 

Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, pursuant to an Officers’ Certificate, or pursuant to one
or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and
premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 

SECTION 12.09 CONFLICT WITH TRUST INDENTURE ACT. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317,
inclusive, of the Trust Indenture Act, such imposed duties shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to
apply to this Indenture as so modified or to be excluded, as the case may be. 
 SECTION 12.10 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 12.11 SEPARABILITY. 

In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such
invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 12.12 ASSIGNMENT. 

The Company will have the right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect
wholly-owned Subsidiary of the Company, provided that, in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the foregoing, the Indenture is binding upon and inures to the benefit of the parties
thereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 

  
 48 

 SECTION 12.13 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 NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

SECTION 12.14 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. 
 ARTICLE XIII 

SUBORDINATION OF SECURITIES 

SECTION 13.01 SUBORDINATION TERMS. 

The payment by the Company of the principal of, premium, if any, and interest on any series of Securities issued hereunder shall be
subordinated to the extent set forth in an indenture supplemental hereto relating to such securities. 

  
 49 

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

			
	LABORATORY CORPORATION OF AMERICA HOLDINGS
		
	By:	 	
	
	  

	Name:	 	
	
	  

	Title:	 	
	
	  

	
	[                    ], as Trustee
		
	By:	 	
	
	  

	Name:	 	
	
	  

	Title:	 	
	
	  

  
 50EX-10.31

 Exhibit 10.31 

FIRST AMENDMENT OF AMENDED AND RESTATED 

NOTE PURCHASE AGREEMENT 

This First Amendment of Amended and Restated Note Purchase Agreement (the “First Amendment”) is entered into as of
December 1, 2014, between DELTIC TIMBER CORPORATION (the “Company”) and AMERICAN AGCREDIT, PCA (the “Purchaser”). 

RECITALS 

A.    The Company and the Purchaser are parties to an Amended and Restated Note Purchase Agreement dated March 30,
2007. That agreement is referred to in this First Amendment as the “Note Purchase Agreement.” 

B.    Capitalized terms used in this First Amendment that are not defined in this First Amendment have the meaning
assigned to those terms in the Note Purchase Agreement. 
 C.    The Company has asked the Purchaser to modify the
financial covenants in the Note Purchase Agreement in such a manner that those covenants will be identical to the financial covenants in the Bank Credit Agreement. The Purchaser is willing to do so, subject to the terms and conditions set forth in
this First Amendment. 
 NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are acknowledged by the Purchaser
and the Company, the Purchaser and the Company agree as follows: 
 TERMS AND CONDITIONS 

SECTION I 
 CONDITIONS PRECEDENT

 1.1    Conditions Precedent.    This First Amendment will be effective if the following
events occur on or before December 5, 2014: 
 (a)    the Company executes this First Amendment and
delivers it to the Purchaser; 
 (b)    the Subsidiary Guarantors execute and deliver to the Purchaser
the Consent and Reaffirmation of Guaranty set forth in Annex I to this First Amendment; 

(c)    Del-Tin Fiber L.L.C. (“Del-Tin Fiber”)
executes and delivers to the Purchaser a Counterpart to Amended and Restated Subsidiary Guaranty (the “Counterpart”) in substantially the form of Exhibit A to the Subsidiary Guaranty; 

(d)    Del-Tin Fiber delivers to the Purchaser a certificate of
the Secretary of Del-Tin Fiber with respect to resolutions of the members of Del-Tin Fiber (i) authorizing the execution and delivery by Del-Tin Fiber of the Counterpart, and (ii) identifying the Person (or Persons) authorized to execute and deliver the Counterpart on behalf of Del-Tin Fiber, and providing
specimen signatures of each such Person; 

  
 -1- 

 (e)    Del-Tin Fiber
delivers to the Purchaser the operating agreement, limited liability company agreement, or comparable organizational document of Del-Tin Fiber, and all amendments and supplements to such agreement that exist
as of the date of this First Amendment, certified by the Secretary of Del-Tin Fiber to be true and correct copies of such documents; and 

(f)    the Purchaser receives payment from the Company of (or the Company’s irrevocable commitment to
pay) all attorneys’ fees and other costs and expenses incurred by the Purchaser through the date of this First Amendment in connection with the negotiation and preparation of this First Amendment. 

If the above-described conditions precedent are not satisfied by December 5, 2014 (or are not waived by the Purchaser in writing in its sole and absolute
discretion), this First Amendment will not be effective and the parties’ rights and obligations in respect of the Notes will continue to be governed by the Note Purchase Agreement (without giving effect to this First Amendment) and the other
Note Documents. 
 SECTION II 

AMENDMENT OF THE NOTE PURCHASE AGREEMENT 

2.1    Modification of the Indebtedness Covenant.    As of the date of this First Amendment,
Section 10.5(c) of the Note Purchase Agreement is modified, amended, and restated as follows: 

“(c)    Indebtedness existing on December 1, 2014, and set forth on Schedule 10.5
and extensions, renewals, and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof (immediately prior to giving effect to such extension, renewal, or replacement) or shorten the maturity or the weighted
average life thereof;” 
 In addition, as of the date of this First Amendment, existing Schedule 10.5 to the Note Purchase Agreement is deleted
from the Note Purchase Agreement and is replaced by the updated version of Schedule 10.5 that is attached to this First Amendment as Exhibit A. 

2.2    Modification of the Negative Pledge Covenant.    As of the date of this First Amendment,
Section 10.6(b) of the Note Purchase Agreement is modified, amended, and restated as follows: 

“(b)    any Liens on any Property or asset of the Company or any Subsidiary existing on
December 1, 2014, and set forth on Schedule 10.6 to this Agreement; provided, that such Lien shall not apply to any other Property or asset of the Company or any Subsidiary.” 

  
 -2- 

 In addition, as of the date of this First Amendment, existing Schedule 10.6 to the Note Purchase Agreement
is deleted from the Note Purchase Agreement and is replaced by the updated version of Schedule 10.6 that is attached to this First Amendment as Exhibit B. 

2.3    Modification of the Leverage Ratio.    As of the date of this First Amendment,
Section 10.15 of the Note Purchase Agreement is modified, amended, and restated as follows: 
 “Section
10.15.  Leverage Ratio.  The Company and its Subsidiaries shall maintain, as of the last day of each fiscal quarter of the Company, a Leverage Ratio of not greater than 0.65 to 1.00.” 

2.4    Elimination of Certain Financial Covenants.    The Company and the Purchaser agree that
the Fixed Charge Coverage Ratio and the Consolidated Net Worth covenant no longer will be covenants or obligations of the Company under the Note Purchase Agreement. Accordingly, as of the date of this First Amendment, Section 10.16 and
Section 10.17 of the Note Purchase Agreement are deleted from the Note Purchase Agreement and the Company no longer will be required to (a) comply with those covenants, or (b) provide the Purchaser with information regarding those
covenants in the compliance certificates that the Company delivers to the Purchaser pursuant to Section 7.2(a) of the Note Purchase Agreement. 

2.5    Modification of the Minimum Timber Market Value Covenant.    As of the date of this
First Amendment, Section 10.18 of the Note Purchase Agreement is modified, amended, and restated as follows: 

“Section 10.18.  Minimum Timber Market Value.  The Company and its Subsidiaries shall maintain
a Timber Market Value greater than 175 percent of the outstanding Total Senior Indebtedness.” 

2.6    Modification of Certain Defined Terms.    As of the date of this First Amendment, the
definitions of the terms “Bank Credit Agreement”, “Bank Debt”, “Consolidated Net Worth”, “Consolidated Total Debt”, and “Total Senior Indebtedness” set forth in Schedule B to the Note Purchase
Agreement are modified, amended, and restated as follows: 
 “‘Bank Credit Agreement’ means that
certain Second Amended and Restated Revolving Credit Agreement dated as of November 18, 2014, by and among the Company, the financial institutions from time to time party thereto, and SunTrust Bank, in its capacity as Administrative Agent, as
such agreement may be amended, restated, replaced, supplemented, or otherwise modified from time to time, provided that the Bank Debt governed by the Bank Credit Agreement is unsecured and that any guarantor of the Bank Debt also is a Subsidiary
Guarantor under this Agreement.” 
 “‘Bank Debt’ means all revolving loans, swingline loans, and
other Indebtedness outstanding under the Bank Credit Agreement.” 
 “‘Consolidated Net Worth’
means, as of any date, (i) the total assets of the Company and its Subsidiaries that would be reflected on the Company’s 

  
 -3- 

 
consolidated balance sheet as of such date prepared in accordance with GAAP, after eliminating all amounts properly attributable to minority interests, if any, in the stock and surplus of
Subsidiaries, minus (ii) the sum of (y) the total liabilities of the Company and its Subsidiaries that would be reflected on the Company’s consolidated balance sheet as of such date prepared in accordance with GAAP, and
(z) the amount of any write-up in the book value of any assets of the Company and its Subsidiaries resulting from a revaluation of such assets, or any write-up in excess of the cost of such assets reflected on the consolidated balance sheet of
the Company as of such date prepared in accordance with GAAP.” 
 “‘Consolidated Total Debt’
means, as of any date, all Indebtedness of the Company and its Subsidiaries described in the definition of the term “Indebtedness,” including, without limitation, the Bank Debt and the Indebtedness evidenced by the Notes, but excluding
Indebtedness of the type described in subsection (xi) of the definition of the term Indebtedness.” 

“‘Total Senior Indebtedness’ means the Aggregate Bank Commitments and the Indebtedness evidenced by the
Notes.” 
 In addition, the following sentence is added to the definition of the term Indebtedness as the last sentence of such definition (which
definition is set forth in Schedule B to the Note Purchase Agreement): 
 “For purpose of determining the amount of attributed
Indebtedness from Swap Contracts, the “principal amount” of the obligations of the Company or any Subsidiary in respect to any Swap Contract at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that
the Company or such Subsidiary would be required to pay if such Swap Contract was terminated at such time.” 

2.7    Addition of New Defined Term.    As of the date of this First Amendment, the following
defined term is added to Schedule B to the Note Purchase Agreement in proper alphabetical order: 

“‘Aggregate Bank Commitments’ means the aggregate amount of the commitments of the lenders under the
Bank Credit Agreement outstanding at the time in question, as such commitments may be increased or decreased from time to time in accordance with the Bank Credit Agreement. The initial amount of the Aggregate Bank Commitments under the Bank Credit
Agreement is $430,000,000.” 
 2.8    More Restrictive Financial Covenants and New Financial Covenants in the
Bank Credit Agreement.    The Company agrees to notify the Purchaser promptly in writing of any of the following events: 

(a)    any amendment after the date of this First Amendment of (i) the Leverage Ratio covenant or the
Timber Market Value covenant contained in the Bank Credit Agreement, or (ii) the definition of either of those covenants (or the 

  
 -4- 

 
defined terms used to define such covenants), which notice will identify any such amendment in reasonable detail, if the effect of any such amendment is to make either or both of such financial
covenants more restrictive (as determined by the Purchaser in its reasonable discretion); 
 (b)    the
inclusion after the date of this First Amendment of any new financial covenant in the Bank Credit Agreement (which notice will identify such new covenant, and the manner in which such covenant is defined and calculated, in reasonable detail); and

 (c)    any amendment of (i) any financial covenant described in clause (b) above, or
(ii) the definition of any such covenant (or the defined terms used to define such covenant), which notice will identify any such amendment in reasonable detail, if the effect of any such amendment is to make the financial covenant in question
more restrictive (as determined by the Purchaser in its reasonable discretion). 
 If any financial covenant in the Bank Credit Agreement (including the
Leverage Ratio covenant, the Timber Market Value covenant, or any new financial covenant added to the Bank Credit Agreement after the date of this First Amendment) is amended after the date of this First Amendment in a manner that causes such
covenant to be more restrictive (as determined by the Purchaser in its reasonable discretion), or a new financial covenant is added to the Bank Credit Agreement after the date of this First Amendment, then, simultaneously with such amendment or
addition, (y) in the case of any such amendment of an existing financial covenant in the Bank Credit Agreement, the version of such financial covenant in the Note Purchase Agreement will be deemed to be amended in a corresponding fashion, and
(z) in the case of the addition of a new financial covenant to the Bank Credit Agreement, such covenant will be deemed to be added to and included in Section 9 or Section 10 the Note Purchase Agreement as either an affirmative
covenant, or a negative covenant, as applicable. The provisions of the preceding sentence will be effective even if the Company fails to notify the Purchaser of the amendment or addition of the financial covenant in question, as required by the
first sentence of this paragraph 1.1 of this First Amendment. 
 SECTION III 

MISCELLANEOUS AND GENERAL TERMS 

3.1    Expenses of the Purchaser.    The Company agrees that the Company will reimburse the
Purchaser for all expenses incurred by the Purchaser in connection with the Note Purchase Agreement and the other Note Documents, including, but not limited to, the reasonable fees and expenses of legal counsel for the Purchaser (including, but not
limited to, fees and expenses incurred in connection with the preparation, negotiation, and closing of this First Amendment (or the agreement evidenced by this First Amendment)). The Company will pay all amounts that the Company owes pursuant to the
preceding sentence of this First Amendment to the Purchaser within ten days after the Purchaser bills the Company for such amounts. 

  
 -5- 

 3.2    Continued Effectiveness of the Note Purchase Agreement and the
Other Note Documents.    The Purchaser and the Company acknowledge and agree that the Note Purchase Agreement (as amended by this First Amendment) and the other Note Documents remain in full force and effect and are binding
and enforceable in accordance with their terms. Following the execution of this First Amendment and timely satisfaction of the other conditions precedent specified in paragraph 1.1 of this First Amendment, references in the Note Purchase
Agreement to the “Agreement” will mean the Note Purchase Agreement, as amended by this First Amendment. 

3.3    Representations and Warranties of the Company.    As an inducement to the Purchaser to
enter into this First Amendment, the Company represents and warrants to the Purchaser as follows: 

(a)    the Company (i) is a corporation duly organized, validly existing, and in good standing under
the laws of the state in which the Company was organized, and is authorized to do business in each jurisdiction in which its ownership of property or conduct of business requires such authorization, and (ii) has full power, authority, and legal
right to own its properties and assets and to conduct its business as currently conducted; 
 (b)    the
Company has full power, authority, and legal right to (i) execute and deliver this First Amendment, and to perform and observe its obligations under the Note Purchase Agreement (as amended by this First Amendment) and the other Note Documents
to which it is a party, and (ii) carry out the transactions contemplated by the Note Purchase Agreement (as amended by this First Amendment) and the other Note Documents to which it is a party; 

(c)    The execution and delivery by the Company of this First Amendment, and compliance by the Company
with the terms of the Note Purchase Agreement (as amended by this First Amendment) and the other Note Documents to which the Company is a party, will not (i) result in a breach of any of the terms or conditions of any indenture, agreement,
order, judgment, or instrument under which the Company is a party, or by which the Company or its properties may be bound or affected, (ii) result in the imposition of any lien, charge, or encumbrance upon any properties of the Company pursuant
to any indenture, agreement, order, judgment, or instrument under which the Company is a party, or by which the Company or its properties may be bound or affected, (iii) constitute a default under any indenture, agreement, order, judgment, or
instrument under which the Company is a party, or by which the Company or its properties may be bound or affected, or (iv) violate any provision of any applicable law; 

(d)    There are no actions, suits, or proceedings pending (or, to the knowledge of the Company,
threatened) against or affecting the Company at law or in equity that, if adversely determined, reasonably could be expected to have a Material Adverse Effect; 

  
 -6- 

 (e)    no Event of Default exists as of the date of this
First Amendment, or would result from the Purchaser and the Company entering into this First Amendment; 

(f)    following the Restatement Closing Date, and prior to the date of this First Amendment, Deltic
Southwest Timber Company and Deltic Real Estate Investment Company (which were Subsidiary Guarantors) were merged into the Company, liquidated, or otherwise ceased to exist as legal entities and their assets were transferred to (or otherwise were
acquired by) the Company; and 
 (g)    the representations and warranties of the Company set forth in
Section 5 of the Note Purchase Agreement are true and correct in all material respects as of the date of this First Amendment. 

3.4    Captions.    Any captions for the sections and paragraphs of this First Amendment are
for convenience only and do not control or affect the meaning or construction of any of the provisions of this First Amendment. 

3.5    Severability.    If any term, condition, or provision of this First Amendment is held
invalid for any reason, such offending term, condition, or provision will be deleted from this First Amendment, and the remainder of this First Amendment will not be affected by the deletion of such term, condition, or provision. 

3.6    Negotiated Agreement.    This First Amendment is a negotiated agreement. In the event of
any ambiguity in this First Amendment, such ambiguity will not be subject to a rule of contract interpretation that would cause the ambiguity to be construed against either of the parties to this First Amendment. 

3.7    Voluntary and Entire Agreement.    The Note Purchase Agreement (as amended by this First
Amendment) and the other Note Documents set forth and constitute the entire agreement between the Purchaser and the Company with respect to the Notes. No oral promise or agreement of any kind or nature, other than those that have been reduced to
writing and set forth in the Note Purchase Agreement (as amended by this First Amendment), or the other Note Documents, has been made between the Purchaser and the Company with respect to the Notes. The Company acknowledges that it has been
represented (or has had the opportunity to be represented) by legal counsel in connection with the negotiation and execution of this First Amendment and the other agreements and instruments referred to in this First Amendment. The Company
voluntarily executed this First Amendment and the other agreements and instruments referred to in this First Amendment. 

3.8    Construction and Conflict With Other Agreements.    In the event of any conflict between
the terms of this First Amendment and the terms of any other agreements or instruments referred to in this First Amendment, the terms of this First Amendment will control. 

3.9    Waiver of Jury Trial.    THE COMPANY AND THE PURCHASER WAIVE THEIR RIGHT TO
TRIAL BY JURY OF ANY CLAIM OR CLAIMS THEY HAVE OR HEREAFTER MAY HAVE AGAINST EACH OTHER (INCLUDING CROSS-CLAIMS AND COUNTERCLAIMS), WHETHER ANY SUCH CLAIM ARISES OUT OF CONTRACT, TORT, OR OTHERWISE, AND WHETHER ANY SUCH CLAIM ARISES BEFORE OR AFTER
THE DATE OF THIS FIRST AMENDMENT. 

  
 -7- 

 3.10    Applicable Law.    This First Amendment
will be governed by and construed under the laws of the state of New York, without regard to principles of conflicts of law. 
  

									
	DELTIC TIMBER CORPORATION	 		 	AMERICAN AGCREDIT, PCA
					
	By	 	/s/ Ray C. Dillon	 		 	By	 	/s/ Janice T. Thede
		 	 Ray C. Dillon
 President and Chief Executive
Officer
	 		 		 	 Janice T. Thede
 Vice President

  
 -8- 

 EXHIBIT A 

SCHEDULE 10.5 
 OUTSTANDING
INDEBTEDNESS 
 Letters of Credit 
  

																	
	 Issuing Bank
	  	Beneficiary	 	  	Amount	 	  	Expiry
Description	 	  	Date	 
	 Bancorp South
	  	 	US Forest Service	  	  	 	30,000	  	  	 	11/26/2015	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	66,000	  	  	 	11/1/2015	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	97,000	  	  	 	11/17/2016	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	74,000	  	  	 	11/1/2015	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	53,000	  	  	 	11/1/2016	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	40,000	  	  	 	6/12/2017	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	54,000	  	  	 	6/24/2018	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	32,000	  	  	 	11/3/2016	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	91,000	  	  	 	11/25/2018	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	17,000	  	  	 	6/29/2019	  	  	 	Timber Contract	  
		  	 	US Forest Service	  	  	 	66,000	  	  	 	9/30/2019	  	  	 	Timber Contract	  
		  				  	  
	  
	 	  				  			
	 Total Letters of Credit
	  				  	 	620,000	  	  				  			
		  				  	  
	  
	 	  				  			

 Notes Payable 
  

													
	 Beneficiary
	  	Amount	 	  	Interest Rate	 	 	Due Date	 
	 SunTrust Bank (Revolver)
	  	$	135,000,000	  	  	 	Various	  	 	 	5/1/2018	  
	 American AgCredit
	  	 	40,000,000	  	  	 	6.10	% 	 	 	12/18/2016	  
		  	  
	  
	 	  				 			
	 Total Notes Payable
	  	$	175,000,000	  	  				 			
		  	  
	  
	 	  				 			
				
	 Del-Tin Taxable Bonds
	  				  				 			
	 Letter of Credit Guaranty—Del-Tin Bonds
	  	$	29,688,750	  	  				 			
		  	  
	  
	 	  				 			
	 Total Outstanding Indebtedness
	  	$	205,308,750	  	  				 			
		  	  
	  
	 	  				 			

  

 EXHIBIT B 

SCHEDULE 10.6 
 Existing
Liens 
 UCC-1 Financing Statement filed on July 7, 2011, with the Arkansas Secretary of State naming
Del-Tin Fiber L.L.C. (“Del-Tin”), as debtor, and SunTrust Bank, as Administrative Agent, as Secured Party, and listing all assets of Del-Tin. The foregoing Financing Statement relates to a Lien granted by Del-Tin in connection with obligations under that certain Amended and Restated Letter of Credit
Agreement dated as of July 21, 2011, by and among Del-Tin, the lenders from time to time a party thereto, and SunTrust Bank, as Administrative Agent. 

  

 ANNEX I 

CONSENT AND REAFFIRMATION OF GUARANTY 

Deltic Timber Purchasers, Inc., Chenal Properties, Inc., and Chenal Country Club, Inc. (the “Guarantors”), consent to the
terms of the foregoing First Amendment of Amended and Restated Note Purchase Agreement (the “First Amendment”) and acknowledge and reaffirm the obligations of the Guarantors under the Amended and Restated Subsidiary Guaranty
executed by the Guarantors in favor of the Purchaser on or about March 30, 2007, to pay and perform the obligations of the Company to the Purchaser, including, but not limited to, the Company’s obligations pursuant to the Notes.
Capitalized terms used in this Consent and Reaffirmation of Guaranty have the meaning assigned to those terms in the Amended and Restated Note Purchase Agreement between the Purchaser and the Company dated March 30, 2007 (as amended by the
First Amendment). 
 Dated as of December 1, 2014. 
  

									
	DELTIC TIMBER PURCHASERS, INC.	 	CHENAL PROPERTIES, INC.
					
	By	 	/s/ Ray C. Dillon	 		 	By	 	/s/ Ray C. Dillon
		 	 Ray C. Dillon
 President and Chief Executive
Officer
	 		 		 	 Ray C. Dillon
 President and Chief Executive
Officer

				
		 		 		 	CHENAL COUNTRY CLUB, INC.
					
	  
	 	  
	 		 	By	 	/s/ Ray C. Dillon
		 		 		 		 	 Ray C. Dillon
 President and Chief Executive
Officer

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