Document:

EX-4.1.1

 Exhibit 4.1.1 

 
  
 SABINE PASS LIQUEFACTION, LLC  
  

 
 FIRST
SUPPLEMENTAL INDENTURE 
 Dated as of April 16, 2013 

 
  

The Bank of New York Mellon 
 Trustee 
  
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 INTERPRETATION
	  	 	1	  
		
	 Section 1.01 To Be Read With the Original Indenture
	  	 	1	  
	 Section 1.02 Capitalized Terms
	  	 	2	  
		
	 ARTICLE 2 ADDITIONAL NOTES
	  	 	2	  
		
	 Section 2.01 The Additional Notes
	  	 	2	  
	 Section 2.02 Temporary Global Notes
	  	 	2	  
	 Section 2.03 Execution and Authentication of the Additional 5.625% 2021 Notes
	  	 	2	  
		
	 ARTICLE 3 MISCELLANEOUS
	  	 	2	  
		
	 Section 3.01 Ratification of the Indenture; Accession Agreement
	  	 	2	  
	 Section 3.02 Governing Law
	  	 	3	  
	 Section 3.03 Counterpart Originals
	  	 	3	  
	 Section 3.04 Table of Contents, Headings, etc.
	  	 	3	  
	 Section 3.05 The Trustee
	  	 	3	  

  

 FIRST SUPPLEMENTAL INDENTURE dated as of April 16, 2013 between Sabine Pass
Liquefaction, LLC, a Delaware limited liability company (the “Company”) and The Bank of New York Mellon, as Trustee under the Indenture referred to below (the “Trustee”). 

WHEREAS, the Company and the Trustee previously have entered into an indenture, dated as of February 1, 2013 (the “Original
Indenture”, and as supplemented by this First Supplemental Indenture, the “Indenture”), providing for the issuance of 5.625% Senior Secured Notes due 2021; and 

WHEREAS, the Indenture provides for, among other things, that, subsequent to the execution of the Original Indenture, the Company and the
Trustee may, without the consent of Holders of the outstanding 5.625% Senior Secured Notes due 2021, enter into one or more indentures supplemental to the Original Indenture to provide for the issuance of Additional Notes in accordance with
Section 2.01(d) thereof; 
 WHEREAS, the Original Indenture provides that the terms and conditions of any Additional Notes
shall be established in one or more Supplemental Indentures approved pursuant to a Board Resolution; and 
 WHEREAS, pursuant to
a Board Resolution dated as of April 4, 2013, the Company has authorized the issuance of an additional $500,000,000 aggregate principal amount of 5.625% Senior Secured Notes due 2021; 

WHEREAS, the Company has requested that the Trustee join in the execution of this First Supplemental Indenture; 

WHEREAS, pursuant to Section 9.01 of the Original Indenture, the Trustee is authorized to execute and deliver this First
Supplemental Indenture; and 
 WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of the
parties and a valid supplement to the Original Indenture have been done. 
 NOW, THEREFORE, for and in consideration of the
premises and the mutual covenants contained herein and in the Indenture and for other good and valuable consideration, the receipt and sufficiency of which are herein acknowledged, the Company and the Trustee hereby agree, for the equal and ratable
benefit of all Holders, as follows: 
 ARTICLE 1 
 INTERPRETATION 
 Section 1.01 To Be Read With the Original Indenture. 

This First Supplemental Indenture is supplemental to the Original Indenture, and the Original Indenture and this First Supplemental
Indenture shall hereafter be read together and shall have effect, so far as practicable, with respect to the Additional 5.625% 2021 Notes (as defined below) as if all the provisions of the Original Indenture and this First Supplemental Indenture
were contained in one instrument. 

  
 1 

 Section 1.02 Capitalized Terms. 

All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Original Indenture. 

ARTICLE 2 

ADDITIONAL NOTES 

Section 2.01 The Additional Notes 
 Pursuant to Section 2.01(d) of the Original Indenture, the Company hereby creates and issues $500,000,000 aggregate principal amount of its 5.625% Senior Secured Notes due 2021 (the
“Additional 5.625% 2021 Notes”). The Additional 5.625% 2021 Notes will be consolidated to form a single series and, subject to Section 2.02 of this First Supplemental Indenture, be fully fungible with the Company’s
outstanding 5.625% Senior Secured Notes due 2021 issued on February 1, 2013, to which the Additional 5.625% 2021 Notes are identical in all terms and conditions except issue date and issue price. Interest on the Additional 5.625% 2021 Notes
shall be payable semiannually in arrears on February 1 and August 1 of each year, commencing August 1, 2013 which interest payment on August 1, 2013 will include accrued interest from February 1, 2013. All Additional 5.625%
2021 Notes issued under the Indenture will, when issued, be considered Notes for all purposes thereunder and will be subject to and take the benefit of all of the terms, conditions and provisions of the Indenture. 

Section 2.02 Temporary Global Notes 
 Additional 5.625% 2021 Notes offered and sold in reliance on Regulation S will be initially in the form of Exhibit A-2 to the Original Indenture and shall be subject to the other provisions of
Section 2.01(c) of the Original Indenture; provided that, such Additional 5.625% 2021 Notes shall initially bear CUSIP and ISIN numbers as follows: 
 CUSIP NUMBER: U77888 AB8 
 ISIN NUMBER: USU77888AB88 

Section 2.03 Execution and Authentication of the Additional 5.625% 2021 Notes 

The Trustee shall, pursuant to an Authentication Order, authenticate the Additional 5.625% 2021 Notes. 

ARTICLE 3 

MISCELLANEOUS 
 Section 3.01
Ratification of the Indenture; Accession Agreement. 
 (a) The Original Indenture as supplemented by this First
Supplemental Indenture is in all respects ratified and confirmed, and this First Supplemented Indenture shall be deemed part of the Original Indenture in the manner and to the extent herein and therein provided. 

  
 2 

 (b) Each Holder of the 5.625% 2023 Notes, by its acceptance of the 5.625% 2023 Notes,
ratifies and confirms the Accession Agreement, pursuant to which the Notes constitute additional New Secured Debt (as defined in the Accession Agreement) and Secured Debt that is pari passu with all other Secured Debt and secured by the Collateral
equally and ratably with all other Secured Debt. 
 Section 3.02 Governing Law. 

THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS FIRST SUPPLEMENTAL INDENTURE, THE ADDITIONAL 5.625% 2021 NOTES
AND ANY NOTE GUARANTEES RELATED TO THE ADDITIONAL 5.625% 2021 NOTES WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 Section 3.03 Counterpart Originals. 
 The parties may sign any number
of copies of this First Supplemental Indenture. Each signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this First Supplemental Indenture and of signature pages by facsimile or
electronic format (i.e., “pdf” or “tif”) transmission shall constitute effective execution and delivery of this First Supplemental Indenture as to the parties hereto and may be used in lieu of the original First
Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., “pdf” or “tif”) shall be deemed to be their original signatures for all purposes. 

Section 3.04 Table of Contents, Headings, etc. 
 The Table of Contents and Headings of the Articles and Sections of this First Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture
and will in no way modify or restrict any of the terms or provisions hereof and will not affect the construction hereof. 
 Section 3.05
The Trustee. 
 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this First Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company. 
 [Signatures on following page] 
  

  
 3 

 SIGNATURES 
 Dated as of April 16, 2013 
  

			
	SABINE PASS LIQUEFACTION, LLC
		
	 By:
	 	/s/ Graham McArthur
	 Name:
	 	Graham McArthur
	 Title:
	 	Treasurer
	
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	 By:
	 	/s/ Francine Kincaid
	 Name:
	 	Francine Kincaid
	 Title:
	 	Vice PresidentEX-4.1.2

 Exhibit 4.1.2 

 
  
 SABINE PASS LIQUEFACTION, LLC 
  

 
 SECOND
SUPPLEMENTAL INDENTURE 
 Dated as of April 16, 2013 

 
  

The Bank of New York Mellon 
 Trustee 
  
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 INTERPRETATION
	  	 	1	  
		
	 Section 1.01 To Be Read With the Original Indenture
	  	 	1	  
	 Section 1.02 Definitions
	  	 	2	  
		
	 ARTICLE 2 ADDITIONAL NOTES
	  	 	2	  
		
	 Section 2.01 The Additional Notes
	  	 	2	  
	 Section 2.02 Maturity Date
	  	 	2	  
	 Section 2.03 Form; Payment of Interest
	  	 	2	  
	 Section 2.04 Execution and Authentication of the 5.625% 2023 Notes
	  	 	2	  
		
	 ARTICLE 3 REDEMPTION
	  	 	3	  
		
	 Section 3.01 Redemption
	  	 	3	  
		
	 ARTICLE 4 MISCELLANEOUS
	  	 	5	  
		
	 Section 4.01 Ratification of the Indenture; Accession Agreement
	  	 	5	  
	 Section 4.02 Governing Law
	  	 	5	  
	 Section 4.03 Counterpart Originals
	  	 	5	  
	 Section 4.04 Table of Contents, Headings, etc.
	  	 	5	  
	
	EXHIBITS	  
		
	 Exhibit A-1 FORM OF NOTE
	  			
	 Exhibit A-2 FORM OF REGULATION S TEMPORARY GLOBAL NOTE
	  			

 SECOND SUPPLEMENTAL INDENTURE dated as of April 16, 2013 between Sabine Pass
Liquefaction, LLC, a Delaware limited liability company (the “Company”) and The Bank of New York Mellon, as Trustee under the Indenture referred to below (the “Trustee”). 

WHEREAS, the Company and the Trustee previously have entered into an indenture, dated as of February 1, 2013 (the “Original
Indenture”, as supplemented by the First Supplemental Indenture dated as of April 16, 2013 and this Second Supplemental Indenture and any further amendments or supplements thereto, the “Indenture”), providing for the
issuance of 5.625% Senior Secured Notes due 2021; 
 WHEREAS, the Indenture provides for, among other things, that, subsequent
to the execution of the Original Indenture, the Company and the Trustee may, without the consent of Holders of the outstanding 5.625% Senior Secured Notes due 2021 (the “Original 5.625% 2021 Notes”), enter into one or more
indentures supplemental to the Original Indenture to provide for the issuance of Additional Notes in accordance with Section 2.01(d) thereof; 
 WHEREAS, the Original Indenture provides that the terms and conditions of any Additional Notes shall be established in one or more Supplemental Indentures approved pursuant to a Board Resolution;

 WHEREAS, pursuant to a Board Resolution dated as of April 4, 2013, the Company has authorized the issuance of
$1,000,000,000 aggregate principal amount of its 5.625% Senior Secured Notes due 2023; 
 WHEREAS, the Company has requested
that the Trustee join in the execution of this Second Supplemental Indenture; 
 WHEREAS, pursuant to Section 9.01 of the
Original Indenture, the Trustee is authorized to execute and deliver this Second Supplemental Indenture; and 
 WHEREAS, all
things necessary to make this Second Supplemental Indenture a valid agreement of the parties and a valid supplement to the Original Indenture have been done. 
 NOW, THEREFORE, for and in consideration of the premises and the mutual covenants contained herein and in the Indenture and for other good and valuable consideration, the receipt and sufficiency of which
are herein acknowledged, the Company and the Trustee hereby agree, for the equal and ratable benefit of all Holders, as follows: 

ARTICLE 1 

INTERPRETATION 

Section 1.01 To Be Read With the Original Indenture. 
 This Second Supplemental Indenture is supplemental to the Original Indenture, and the Original Indenture and this Second Supplemental Indenture shall hereafter be read together and shall have effect, so
far as practicable, with respect to the 5.625% 2023 Notes (as defined below) as if all the provisions of the Original Indenture and this Second Supplemental Indenture were contained in one instrument. 

  
 1 

 Section 1.02 Capitalized Terms. 

All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Original Indenture. 

ARTICLE 2 

ADDITIONAL NOTES 

Section 2.01 The Additional Notes 
 Pursuant to Section 2.01(d) of the Original Indenture, the Company hereby creates and issues a series of Notes designated as “5.625% Senior Secured Notes due 2023,” initially limited in
aggregate principal amount to $1,000,000,000 (the “5.625% 2023 Notes”); provided that the Company may, at any time and from time to time, create and issue additional 5.625% 2023 Notes in an unlimited principal amount which
will be part of the same series as the 5.625% 2023 Notes and which will have the same terms (except for the issue date, issue price and, in some cases, the first Interest Payment Date) as the 5.625% 2023 Notes. The 5.625% 2023 Notes will have the
same terms as the Original 5.625% 2021 Notes other than as provided in this Second Supplemental Indenture. All 5.625% 2023 Notes issued under the Indenture will, once issued, be considered Notes for all purposes thereunder and will be subject to and
take the benefit of all the terms, conditions and provisions of the Indenture. 
 Section 2.02 Maturity Date 

The maturity date of the 5.625% 2023 Notes is April 15, 2023. 
 Section 2.03 Form; Payment of Interest 
 (a) With respect to the Notes,
the references, in the Original Indenture, in Section 2.01 thereof and in the definition of “Definitive Note,” to Exhibit A-1 and Exhibit A-2, shall be to Exhibit A-1 and Exhibit A-2 attached to this Second
Supplemental Indenture. 
 (b) The Company will pay interest and Additional Interest, if any, on the 5.625% 2023 Notes
semi-annually in arrears on April 15 and October 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the 5.625% 2023 Notes will accrue from the most recent date to which interest has
been paid or, if no interest has been paid, from April 16, 2013. The first Interest Payment Date with respect to the 5.625% 2023 Notes shall be October 15, 2013. 
 Section 2.04 Execution and Authentication of the 5.625% 2023 Notes 

The Trustee shall, pursuant to an Authentication Order, authenticate the 5.625% 2023 Notes. 

  
 2 

 ARTICLE 3 
 REDEMPTION 
 Section 3.01 Redemption. 

With respect to the 5.625% 2023 Notes, Section 3.07 of the Original Indenture shall be replaced in its entirety to read as follows:

 “Section 3.07 Optional Redemption. 

At any time or from time to time prior to January 15, 2023, the Company may, at its option, redeem all or a part of
the 5.625% 2023 Notes and the Exchange Notes issued for the 5.625% 2023 Notes (collectively, the “5.625% 2023 Series Notes”), at a redemption price equal to the Make-Whole Price (subject to the right of Holders of record on the
relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication). 
 “Make-Whole Price” with respect to any 5.625% 2023 Series Notes to be redeemed, means an amount equal to the greater of: 

 

	 	(1)	100% of the principal amount of such 5.625% 2023 Series Notes; and 

  

	 	(2)	the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to January 15, 2023 (not including any portion
of such payments of interest accrued as of the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points;

 plus, in the case of both (1) and (2), accrued and unpaid interest on such 5.625% 2023 Series Notes, if
any, to the redemption date. 
 “Comparable Treasury Issue” means, with respect to 5.625% 2023
Series Notes to be redeemed, the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the 5.625% 2023 Series Notes 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 a comparable maturity; provided that if such period is less than one year, then the U.S. Treasury security having a maturity of one
year shall be used. 
 “Comparable Treasury Price” means, with respect to any redemption date,
(1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations as determined by the Company. 

  
 3 

 “Independent Investment Banker” means, with respect to any
5.625% 2023 Series Notes, Morgan Stanley & Co. LLC or any of its successors, or, if such firm or its successors, if any, as the case may be, are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking
institution of national standing appointed by the Company. 
 “Reference Treasury Dealer” means,
with respect to any 5.625% 2023 Series Notes, each of Morgan Stanley & Co. LLC and four additional primary Government Securities dealers in New York City (each a “Primary Treasury Dealer”) selected by the Company, and their
respective successors; provided, however, that if such firm or any such successor, as the case may be, shall cease to be a primary Government Securities dealer in New York City, the Company will substitute therefor another Primary
Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the Company, 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 Company by
such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means, with respect to any redemption date, (1) 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(159)” or any successor publication that is published weekly by the Board of Governors of the Federal Reserve System and that establishes yields on actively traded U.S. 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 stated maturity, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined, and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month)
or (2) 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 annum equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 The notice of redemption with respect to the foregoing redemption
need not set forth the Make-Whole Price but only the manner of calculation thereof. The Company will notify the Trustee of the Make-Whole Price with respect to any redemption promptly after the calculation, and the Trustee shall not be responsible
for such calculation. 
 At any time on or after January 15, 2023, the Company may, at its option, redeem
all or a part of the 5.625% 2023 Series Notes, at a redemption price equal to 100% of the principal amount of the 5.625% 2023 Series Notes to be redeemed, plus accrued and unpaid interest to the redemption date (subject to the right of holders of
record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication).” 

  
 4 

 ARTICLE 4 
 MISCELLANEOUS 
 Section 4.01 Ratification of the Indenture; Accession Agreement.

 (a) The Original Indenture as supplemented by this Second Supplemental Indenture is in all respects ratified and confirmed,
and this Second Supplemented Indenture shall be deemed part of the Original Indenture in the manner and to the extent herein and therein provided. 
 (b) Each Holder of the 5.625% 2023 Notes, by its acceptance of the 5.625% 2023 Notes, ratifies and confirms the Accession Agreement, pursuant to which the Notes constitute additional New Secured Debt (as
defined in the Accession Agreement) and Secured Debt that is pari passu with all other Secured Debt and secured by the Collateral equally and ratably with all other Secured Debt. 
 Section 4.02 Governing Law. 
 THE LAW OF THE STATE OF NEW YORK WILL
GOVERN AND BE USED TO CONSTRUE THIS FIRST SUPPLEMENTAL INDENTURE, THE 5.625% 2023 NOTES AND ANY NOTE GUARANTEES RELATED TO THE 5.625% 2023 NOTES WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW. 
 Section 4.03 Counterpart Originals. 
 The parties may sign any number of copies of this Second Supplemental Indenture. Each signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this
Second Supplemental Indenture and of signature pages by facsimile or electronic format (i.e., “pdf” or “tif”) transmission shall constitute effective execution and delivery of this Second Supplemental Indenture as to the
parties hereto and may be used in lieu of the original Second Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., “pdf” or “tif”) shall be deemed
to be their original signatures for all purposes. 
 Section 4.04 Table of Contents, Headings, etc. 

The Table of Contents and Headings of the Articles and Sections of this Second Supplemental Indenture have been inserted for convenience
of reference only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof and will not affect the construction hereof. 

  
 5 

 Section 4.05 The Trustee. 

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this First Supplemental
Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company. 

[Signatures on following page] 

  
 6 

 SIGNATURES 
 Dated as of April 16, 2013 
  

			
	SABINE PASS LIQUEFACTION, LLC
		
	By:	 	/s/ Graham McArthur
	Name:	 	Graham McArthur
	Title:	 	Treasurer
	
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	By:	 	/s/ Francine Kincaid
	Name:	 	Francine Kincaid
	Title:	 	Vice President

 EXHIBIT A-1 
 [Face of Note] 
 CUSIP: 785592 AB2 

ISIN: US785592AB23 

5.625% Senior Secured Notes due 2023 
  

					
	 No.
                    
	  	$	                     	  

 SABINE PASS LIQUEFACTION, LLC 
 promises to pay to                  or registered assigns, the principal sum of
                                         
                                        DOLLARS on
April 15, 2023. 
 Interest Payment Dates: April 15 and October 15, commencing October 15, 2013 

Record Dates: April 1 and October 1 

Dated:              , 20
             
  

			
	SABINE PASS LIQUEFACTION, LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	This is one of the Notes referred to in the within-mentioned Indenture:
	
	 THE BANK OF NEW YORK MELLON,
     as Trustee

		
	By:	 	 
	Authorized Signatory

 [Back of Note] 
 5.625% Senior Secured Notes due 2023 
 [Insert the Global Note Legend, if applicable pursuant
to the provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the
Indenture] 
 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless
otherwise indicated. 
 (1) INTEREST. Sabine Pass Liquefaction, LLC, a
Delaware limited liability company (the “Company”), promises to pay interest on the principal amount of this Note at 5.625% per annum from April 16, 2013 until maturity and shall pay the Additional Interest, if any,
payable pursuant to Section 6 of the Registration Rights Agreement referred to below. The Company will pay interest and Additional Interest, if any, semi-annually in arrears on April 15 and October 15 of each year, or if any such day
is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the
date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be October 15, 2013. The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 0.5% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed
on the basis of a 360-day year of twelve 30-day months. 
 (2) METHOD OF
PAYMENT. The Company will pay interest on the Notes (except defaulted interest) and Additional Interest, if any, to the Persons who are registered Holders of Notes at the close of business on the April 1 or
October 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest.
The Notes will be payable as to principal, premium and Additional Interest, if any, and interest at the office or agency of the Paying Agent or Registrar maintained for such purpose within or without the City and State of New York, or, at the option
of the Company, payment of interest and Additional Interest, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds
will be required with respect to principal of and interest, premium and Additional Interest, if any, on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such
payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

 (3) PAYING AGENT AND
REGISTRAR. Initially, The Bank of New York Mellon, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The
Company or any of its Subsidiaries may act in any such capacity. 
 (4) INDENTURE
AND SECURITY DOCUMENTS. The Company issued the Notes under an Indenture dated as of February 1, 2013, as supplemented by a second supplemental indenture dated as of April 16,
2013 (the “Indenture”) among the Company, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such
terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. The Notes are secured obligations of the Company. The Notes are secured by a pledge of Collateral (as defined in the Indenture) pursuant to the Security Documents referred to in the Indenture. The Indenture does not limit the aggregate
principal amount of Notes that may be issued thereunder. 
 (5) OPTIONAL
REDEMPTION. 
 At any time or from time to time prior to January 15, 2023, the Company
may, at its option, redeem all or a part of the 5.625% 2023 Series Notes, at a redemption price equal to the Make-Whole Price (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date
that is on or prior to the redemption date, without duplication). 
 “Make-Whole Price” with respect to any
5.625% 2023 Series Notes to be redeemed, means an amount equal to the greater of: 
  

	 	(1)	100% of the principal amount of such 5.625% 2023 Series Notes; and 

  

	 	(2)	the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to January 15, 2023 (not including any portion
of such payments of interest accrued as of the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points;

 plus, in the case of both (1) and (2), accrued and unpaid interest on such 5.625% 2023 Series Notes, if any, to the
redemption date. 
 “Comparable Treasury Issue” means, with respect to 5.625% 2023 Series Notes to be redeemed,
the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the 5.625% 2023 Series Notes 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 a comparable maturity; provided that if such period is less than one year, then the U.S. Treasury security having a maturity of one year shall be used.

 “Comparable Treasury Price” means, with respect to any redemption date,
(1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations as determined by the Company. 

“Independent Investment Banker” means, with respect to any 5.625% 2023 Series Notes, Morgan Stanley & Co. LLC
or any of its successors, or, if such firm or its successors, if any, as the case may be, are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company.

 “Reference Treasury Dealer” means, with respect to any 5.625% 2023 Series Notes, each of Morgan
Stanley & Co. LLC and four additional primary Government Securities dealers in New York City (each a “Primary Treasury Dealer”) selected by the Company, and their respective successors; provided, however, that
if such firm or any such successor, as the case may be, shall cease to be a primary Government Securities dealer in New York City, the Company will substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date,
the average, as determined by the Company, 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 Company by such Reference Treasury Dealer at 5:00
p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means,
with respect to any redemption date, (1) 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(159)” or any
successor publication that is published weekly by the Board of Governors of the Federal Reserve System and that establishes yields on actively traded U.S. 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 stated maturity, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined, and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month) or (2) 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 annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed
as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated on the third Business Day preceding the redemption date. 

The notice of redemption with respect to the foregoing redemption need not set forth the Make-Whole Price but only the manner of
calculation thereof. The Company will notify the Trustee of the Make-Whole Price with respect to any redemption promptly after the calculation, and the Trustee shall not be responsible for such calculation. 

 At any time on or after January 15, 2023, the Company may, at its option, redeem all or
a part of the 5.625% 2023 Series Notes, at a redemption price equal to 100% of the principal amount of the 5.625% 2023 Series Notes to be redeemed, plus accrued and unpaid interest to the redemption date (subject to the right of holders of record on
the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication). 
 (6) MANDATORY REDEMPTION. 
 The
Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 (7)
REPURCHASE AT THE OPTION OF HOLDER. 
 (a) Upon the occurrence of a Change of Control, the Company will make an offer (a “Change of Control Offer”) of payment (a “Change of Control Payment”) to each Holder to
repurchase all or any part (equal to $100,000 and integral multiples of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus accrued
and unpaid interest and Additional Interest, if any, to the date of repurchase (the “Change of Control Payment Date,” which date will be no earlier than the date of such Change of Control). No later than 30 days following any Change
of Control, the Company will mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 
 (b) The Company will be required to make Asset Sale Offers, Excess Proceeds Offers and Project Document Termination Payment Offers to the extent provided in Sections 4.09, 4.16 and 4.22, respectively, of
the Indenture. 
 (8) NOTICE OF REDEMPTION.
Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior
to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in denominations larger than $100,000 may be redeemed in part but only in whole multiples of $1,000 in
excess thereof, unless all of the Notes held by a Holder are to be redeemed. 
 (9)
DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $100,000 and integral multiples of $1,000 in excess thereof. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder
to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in
part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

 (10) PERSONS DEEMED
OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. 
 (11) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept
deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 
 (12) NO RECOURSE AGAINST OTHERS. No past, present or future director, manager, officer, employee, incorporator, member,
partner or stockholder of the Company or any Guarantor (including the General Partner and the Parent), as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture, the Note Guarantees, the
Security Documents, the Financing Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are
part of the consideration for issuance of the Notes. 
 (13) AUTHENTICATION.
This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 (14) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (15) ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND
RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will have all
the rights set forth in the Registration Rights Agreement dated as of April 16, 2013, between the Company and the other parties named on the signature pages thereof or, in the case of Additional Notes, Holders of Restricted Global Notes and
Restricted Definitive Notes will have the rights set forth in one or more registration rights agreements, if any, among the Company, the Guarantors, if any, and the other parties thereto, relating to rights given by the Company and the Guarantors,
if any, to the purchasers of any Additional Notes (collectively, the “Registration Rights Agreement”). By such Holders’ acceptance of Restricted Global Notes or Restricted Definitive Notes, such Holder acknowledges and agrees
to the provisions of the Registration Rights Agreement, including without limitation the obligations of the Holders with respect to indemnification of the Company and the Guarantors to the extent provided therein 

(16) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

 (17) GOVERNING LAW. THE
LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES. 
 The
Company will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Registration Rights Agreement. Requests may be made to: 
 Sabine Pass Liquefaction, LLC 
 c/o Cheniere Energy, Inc. 

700 Milam Street, Suite 800 
 Houston, TX 77002

 Attention: Treasurer 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	  	 
		  	(Insert assignee’s legal name)
	
	 
	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	 
	
	 
	
	 
	
	 
	(Print or type assignee’s name, address and zip code)

 and irrevocably
                    appoint to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:                      

 

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

 Signature Guarantee*:
                         
  

 

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

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to
Section 4.09, 4.14, 4.16 or 4.22 of the Indenture, check the appropriate box below: 

 ̈ Section 4.09
             ̈ Section 4.14
             ̈ Section 4.16
             ̈ Section 4.22 
 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.09, 4.14, 4.16 or 4.22 of the Indenture, state the amount you elect to have purchased: 

$                     

 Date:                     

  

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

	
	 Tax Identification No:
                                        

 Signature Guarantee*:
                         
  

 

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

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE GLOBAL NOTE 
 The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 

 

									
	 Date of
 Exchange
	 	 Amount of

decrease in

Principal

Amount [at

maturity] of this
 Global Note
	 	 Amount of

increase in

Principal

Amount [at

maturity] of this
 Global Note
	  	Principal
Amount [at
maturity] of
this Global
Note following
such decrease
(or increase)	  	Signature of
authorized
officer of
Trustee or
Custodian
		 		 		  		  	

 EXHIBIT A-2 
 [Face of Regulation S Temporary Global Note] 
 CUSIP:U77888 AC6 

ISIN:USU77888AC61 

5.625% Senior Secured Notes due 2023 
  

			
	No.
                                	 	$
                            

 SABINE PASS LIQUEFACTION, LLC 
 promises to pay to             or registered assigns, the principal sum of
                    DOLLARS on April 15, 2023. 
 Interest Payment Dates: April 15 and October 15, commencing October 15, 2013 

Record Dates: April 1 and October 1 

Dated:             , 20
             
  

			
	SABINE PASS LIQUEFACTION, LLC
		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

 This is one of the Notes referred to 
 in the within-mentioned Indenture: 
  

			
	 THE BANK OF NEW YORK MELLON,
     as Trustee

		
	 By:
	 	 
		 	Authorized Signatory

  

 [Back of Regulation S Temporary Global Note] 

5.625% Senior Secured Notes due 2023 
 THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).
NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON. 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION
2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT
OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS
A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE
OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON 

 
BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”)
THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER,
(B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE
IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL ‘‘ACCREDITED INVESTOR’’ WITHIN THE
MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THE NOTES FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ‘‘ACCREDITED INVESTOR’’, FOR INVESTMENT
PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO
THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF
THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 Capitalized
terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1) INTEREST. Sabine Pass Liquefaction, LLC, a Delaware limited liability company (the “Company”), promises to pay interest on the principal amount of
this Note at 5.625% per annum from April 16, 2013 until maturity and shall pay the Additional Interest, if any, payable pursuant to Section 6 of the Registration Rights Agreement referred to below. The Company will pay interest and
Additional Interest, if any, semi-annually in arrears on April 15 and October 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on
the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is
authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date
shall be October 15, 2013. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, 

 
from time to time on demand at a rate that is 0.5% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed
on the basis of a 360-day year of twelve 30-day months. 
 Until this Regulation S Temporary Global Note is exchanged for one or
more Regulation S Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to the same
benefits as other Notes under the Indenture. 
 (2) METHOD OF
PAYMENT. The Company will pay interest on the Notes (except defaulted interest) and Additional Interest, if any, to the Persons who are registered Holders of Notes at the close of business on the April 1 or
October 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest.
The Notes will be payable as to principal, premium and Additional Interest, if any, and interest at the office or agency of the Paying Agent or Registrar maintained for such purpose within or without the City and State of New York, or, at the option
of the Company, payment of interest and Additional Interest, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds
will be required with respect to principal of and interest, premium and Additional Interest, if any, on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such
payment will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 (3) PAYING AGENT AND REGISTRAR. Initially, The Bank of New York Mellon, the Trustee under the Indenture, will act as
Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

(4) INDENTURE AND SECURITY DOCUMENTS.
The Company issued the Notes under an Indenture dated as of February 1, 2013, as supplemented by a second supplemental indenture dated as of April 16, 2013 (the “Indenture”) among the Company, the Guarantors and the
Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of
such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. The Notes are secured by
a pledge of Collateral (as defined in the Indenture) pursuant to the Security Documents referred to in the Indenture. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder. 

 (5) OPTIONAL REDEMPTION.

 At any time or from time to time prior to January 15, 2023, the Company may, at its option, redeem all or a part of
5.625% 2023 Series Notes, at a redemption price equal to the Make-Whole Price (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date,
without duplication). 
 “Make-Whole Price” with respect to any 5.625% 2023 Series Notes to be redeemed, means
an amount equal to the greater of: 
  

	 	(1)	100% of the principal amount of such 5.625% 2023 Series Notes; and 

  

	 	(2)	the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to January 15, 2023 (not including any portion
of such payments of interest accrued as of the redemption date) discounted back to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points;

 plus, in the case of both (1) and (2), accrued and unpaid interest on such 5.625% 2023 Series Notes, if any, to the
redemption date. 
 “Comparable Treasury Issue” means, with respect to 5.625% 2023 Series Notes to be redeemed,
the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the 5.625% 2023 Series Notes 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 a comparable maturity; provided that if such period is less than one year, then the U.S. Treasury security having a maturity of one year shall be used.

 “Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such Reference Treasury Dealer Quotations as determined by the Company. 
 “Independent Investment
Banker” means, with respect to any 5.625% 2023 Series Notes, Morgan Stanley & Co. LLC or any of its successors, or, if such firm or its successors, if any, as the case may be, are unwilling or unable to select the Comparable
Treasury Issue, an independent investment banking institution of national standing appointed by the Company. 

“Reference Treasury Dealer” means, with respect to any 5.625% 2023 Series Notes, each of Morgan Stanley & Co.
LLC and four additional primary Government Securities dealers in New York City (each a “Primary Treasury Dealer”) selected by the Company, and their respective successors; provided, however, that if such firm or any
such successor, as the case may be, shall cease to be a primary Government Securities dealer in New York City, the Company will substitute therefor another Primary Treasury Dealer. 

 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by the Company, 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
Company by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means, with respect to any redemption date, (1) 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(159)” or any successor publication that is published weekly by the Board of Governors of the Federal Reserve System and that establishes yields on actively traded U.S. 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 stated maturity, yields
for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined, and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month)
or (2) 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 annum equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. The Treasury Rate shall be calculated on the third
Business Day preceding the redemption date. 
 The notice of redemption with respect to the foregoing redemption need not set
forth the Make-Whole Price but only the manner of calculation thereof. The Company will notify the Trustee of the Make-Whole Price with respect to any redemption promptly after the calculation, and the Trustee shall not be responsible for such
calculation. 
 At any time on or after January 15, 2023, the Company may, at its option, redeem all or a part of the
5.625% 2023 Series Notes, at a redemption price equal to 100% of the principal amount of the 5.625% 2023 Series Notes to be redeemed, plus accrued and unpaid interest to the redemption date (subject to the right of holders of record on the relevant
record date to receive interest due on an interest payment date that is on or prior to the redemption date, without duplication). 
 (6) MANDATORY REDEMPTION. 
 The
Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 (7)
REPURCHASE AT THE OPTION OF HOLDER. 
 (a) Upon the occurrence of a Change of Control, the Company will make an offer (a “Change of Control Offer”) of payment (a “Change of Control Payment”) to each Holder to
repurchase all or any part (equal to $100,000 and integral multiples of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus accrued
and unpaid 

 
interest and Additional Interest, if any, to the date of repurchase (the “Change of Control Payment Date,” which date will be no earlier than the date of such Change of Control).
No later than 30 days following any Change of Control, the Company will mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 

(b) The Company will be required to Asset Sale Offers, Excess Proceeds Offers and Project Document Termination Payment
Offers to the extent provided in Sections 4.09, 4.16 and 4.22, respectively, of the Indenture. 
 (8)
NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its
registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in
denominations larger than $100,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed. 

(9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in
registered form without coupons in denominations of $100,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may
require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register
the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a
selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

    This Regulation S Temporary Global Note is exchangeable in whole or in part for one or more Global Notes only
(i) on or after the termination of the 40-day distribution compliance period (as defined in Regulation S) and (ii) upon presentation of certificates (accompanied by an Opinion of Counsel, if applicable) required by Article 2 of the
Indenture. Upon exchange of this Regulation S Temporary Global Note for one or more Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note. 

(10) PERSONS DEEMED OWNERS. The registered Holder of a
Note may be treated as its owner for all purposes. 
 (11) TRUSTEE DEALINGS
WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the
Company or its Affiliates, as if it were not the Trustee. 

 (12) NO RECOURSE AGAINST
OTHERS. No past, present or future director, manager, officer, employee, incorporator, member, partner or stockholder of the Company or any Guarantor (including the General Partner and the Parent), as such, will
have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture, the Note Guarantees, the Security Documents, the Financing Documents or for any claim based on, in respect of, or by reason of, such obligations
or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under federal
securities laws. 
 (13) AUTHENTICATION. This Note will not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent. 
 (14)
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

(15) ADDITIONAL RIGHTS OF HOLDERS. In
addition to the rights provided to Holders of Notes under the Indenture, Holders of this Regulation S Temporary Global Note will have all the rights set forth in the Registration Rights Agreement dated as of April 16, 2013, between the Company
and the other parties named on the signature pages thereof or, in the case of Additional Notes, Holders thereof will have the rights set forth in one or more registration rights agreements, if any, among the Company, the Guarantors, if any, and the
other parties thereto, relating to rights given by the Company and the Guarantors, if any, to the purchasers of any Additional Notes (collectively, the “Registration Rights Agreement”). By such Holders’ acceptance of the Restricted
Global Notes or Restricted Definitive Notes, such Holder acknowledges and agrees to the provisions of the Registration Rights Agreement, including without limitation the obligations of the Holders with respect to indemnification of the Company and
the Guarantors to the extent provided therein. 
 (16) CUSIP NUMBERS.
Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience
to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(17) GOVERNING LAW. THE LAW OF THE STATE OF NEW YORK WILL GOVERN AND
BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE NOTE GUARANTEES. 
     The Company will furnish to any
Holder upon written request and without charge a copy of the Indenture and/or the Registration Rights Agreement. Requests may be made to: 

Sabine Pass Liquefaction, LLC 
 c/o Cheniere
Energy, Inc. 
 700 Milam Street, Suite 800 
 Houston, TX 77002 
 Attention: Treasurer 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

	
	 (I) or (we) assign and transfer this Note to:
                                         
                                         
                                         
                                     

	                           
         (Insert assignee’s legal name)

  
  

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

 
  

 
  

 
  

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

	
	 and irrevocably
                     appoint to transfer this Note on the books of the Company. The agent may substitute another to act for

him.

 Date:
                     
  

			
		
	Your Signature:	 	 
	         (Sign exactly as your name appears on the face

        of this Note)

  

	
	 Signature Guarantee*:
                        

  
  

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

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to
Section 4.09, 4.14, 4.16 or 4.22 of the Indenture, check the appropriate box below: 

 ̈  Section 4.09          
  
 ̈  Section 4.14             ̈  Section 4.16   
          ̈  Section 4.22 
 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.09, 4.14, 4.16 or 4.22 of the Indenture, state the amount you elect to have purchased: 

$                    

 Date:                     

  

			
	
Your Signature:                    
                                         
           

	         (Sign exactly as your name appears on the face

        of this Note)

		
	Tax Identification No:	 	 

  

			
		
	Signature Guarantee*:	 	 
		 	

  

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

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE REGULATIONS 
 TEMPORARY
GLOBAL NOTE 
 The following exchanges of a part of this Regulation S Temporary Global Note for an
interest in another Global Note, or exchanges of a part of another other Restricted Global Note for an interest in this Regulation S Temporary Global Note, have been made: 

 

									
	 Date of
 Exchange
	 	 Amount of

decrease in

Principal

Amount [at

maturity] of

this Global

Note
	 	 Amount of

increase in

Principal

Amount [at

maturity] of

this Global

Note
	  	Principal Amount
[at maturity] of
this
Global Note
following such
decrease
(or
increase)	  	Signature of
authorized officer of
Trustee or
Custodian

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