Document:

Indenture

 Exhibit 4.1 

 
  

CITADEL BROADCASTING CORPORATION 
 WILMINGTON TRUST COMPANY, 
 AS TRUSTEE 

AND 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 AS REGISTRAR, AUTHENTICATION AGENT and PAYING AGENT 
 7.75% Senior Notes due 2018

  
  

INDENTURE 
 Dated
as of December 10, 2010 
  
  

 
  

 Table of Contents 

 

									
	 	 	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
				
		 	 SECTION 1.1.
	  	Definitions	  	 	1	  
		 	 SECTION 1.2.
	  	Other Definitions	  	 	33	  
		 	 SECTION 1.3.
	  	Incorporation by Reference of Trust Indenture Act	  	 	35	  
		 	 SECTION 1.4.
	  	Rules of Construction	  	 	36	  
		
	 ARTICLE II THE NOTES
	  	 	36	  
				
		 	 SECTION 2.1.
	  	Form, Dating and Terms	  	 	36	  
		 	 SECTION 2.2.
	  	Execution and Authentication	  	 	45	  
		 	 SECTION 2.3.
	  	Registrar and Paying Agent	  	 	46	  
		 	 SECTION 2.4.
	  	Paying Agent to Hold Money in Trust	  	 	46	  
		 	 SECTION 2.5.
	  	Holder Lists	  	 	47	  
		 	 SECTION 2.6.
	  	Transfer and Exchange	  	 	47	  
		 	 SECTION 2.7.
	  	[Reserved]	  	 	52	  
		 	 SECTION 2.8.
	  	Form of Certificate to be Delivered in Connection with Transfers to Institutional Accredited Investors	  	 	52	  
		 	 SECTION 2.9.
	  	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S	  	 	53	  
		 	 SECTION 2.10.
	  	Mutilated, Destroyed, Lost or Stolen Notes	  	 	55	  
		 	 SECTION 2.11.
	  	Outstanding Notes	  	 	56	  
		 	 SECTION 2.12.
	  	Temporary Notes	  	 	56	  
		 	 SECTION 2.13.
	  	Cancellation	  	 	56	  
		 	 SECTION 2.14.
	  	Payment of Interest; Defaulted Interest	  	 	57	  
		 	 SECTION 2.15.
	  	CUSIP, Common Code and ISIN Numbers	  	 	58	  
		
	 ARTICLE III COVENANTS
	  	 	58	  
				
		 	 SECTION 3.1.
	  	Payment of Notes	  	 	58	  
		 	 SECTION 3.2.
	  	Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock	  	 	59	  
		 	 SECTION 3.3.
	  	Limitation on Restricted Payments	  	 	65	  
		 	 SECTION 3.4.
	  	Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries	  	 	72	  
		 	 SECTION 3.5.
	  	Limitation on Asset Sales	  	 	74	  
		 	 SECTION 3.6.
	  	Limitation on Liens	  	 	77	  
		 	 SECTION 3.7.
	  	Limitation on Guarantees of Indebtedness by Restricted Subsidiaries	  	 	78	  
		 	 SECTION 3.8.
	  	Transactions with Affiliates	  	 	79	  
		 	 SECTION 3.9.
	  	Limitation on Activities of the License Subsidiaries	  	 	81	  
		 	 SECTION 3.10.
	  	Change of Control	  	 	81	  
		 	 SECTION 3.11.
	  	Reports and Other Information	  	 	83	  

  
 i 

									
	 	 	 	  	 	  	Page	 
				
		 	 SECTION 3.12.
	  	Maintenance of Office or Agency	  	 	85	  
		 	 SECTION 3.13.
	  	Corporate Existence	  	 	85	  
		 	 SECTION 3.14.
	  	Payment of Taxes	  	 	85	  
		 	 SECTION 3.15.
	  	Payments for Consent	  	 	85	  
		 	 SECTION 3.16.
	  	Compliance Certificate	  	 	86	  
		 	 SECTION 3.17.
	  	Further Instruments and Acts	  	 	86	  
		 	 SECTION 3.18.
	  	Limitation on Lines of Business	  	 	86	  
		 	 SECTION 3.19.
	  	Statement by Officers as to Default	  	 	86	  
		 	 SECTION 3.20.
	  	Suspension of Certain Covenants	  	 	86	  
		
	 ARTICLE IV SUCCESSOR COMPANY
	  	 	87	  
				
		 	 SECTION 4.1.
	  	Merger, Consolidation or Sale of All or Substantially All Assets	  	 	87	  
		
	 ARTICLE V REDEMPTION OF SECURITIES
	  	 	89	  
				
		 	 SECTION 5.1.
	  	Notices to Trustee	  	 	89	  
		 	 SECTION 5.2.
	  	Selection of Notes to Be Redeemed or Purchased	  	 	89	  
		 	 SECTION 5.3.
	  	Notice of Redemption	  	 	90	  
		 	 SECTION 5.4.
	  	Effect of Notice of Redemption	  	 	91	  
		 	 SECTION 5.5.
	  	Deposit of Redemption or Purchase Price	  	 	91	  
		 	 SECTION 5.6.
	  	Notes Redeemed or Purchased in Part	  	 	91	  
		 	 SECTION 5.7.
	  	Optional Redemption	  	 	92	  
		 	 SECTION 5.8.
	  	Mandatory Redemption	  	 	93	  
		
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	 	93	  
				
		 	 SECTION 6.1.
	  	Events of Default	  	 	93	  
		 	 SECTION 6.2.
	  	Acceleration	  	 	95	  
		 	 SECTION 6.3.
	  	Other Remedies	  	 	96	  
		 	 SECTION 6.4.
	  	Waiver of Past Defaults	  	 	96	  
		 	 SECTION 6.5.
	  	Control by Majority	  	 	97	  
		 	 SECTION 6.6.
	  	Limitation on Suits	  	 	97	  
		 	 SECTION 6.7.
	  	Rights of Holders to Receive Payment	  	 	97	  
		 	 SECTION 6.8.
	  	Collection Suit by Trustee	  	 	97	  
		 	 SECTION 6.9.
	  	Trustee May File Proofs of Claim	  	 	98	  
		 	 SECTION 6.10.
	  	Priorities	  	 	98	  
		 	 SECTION 6.11.
	  	Undertaking for Costs	  	 	98	  
		
	 ARTICLE VII TRUSTEE
	  	 	99	  
				
		 	 SECTION 7.1.
	  	Duties of Trustee	  	 	99	  
		 	 SECTION 7.2.
	  	Rights of Trustee	  	 	100	  
		 	 SECTION 7.3.
	  	Individual Rights of Trustee	  	 	102	  
		 	 SECTION 7.4.
	  	Trustee’s Disclaimer	  	 	102	  
		 	 SECTION 7.5.
	  	Notice of Defaults	  	 	102	  

  
 ii 

									
	 	 	 	  	 	  	Page	 
				
		 	 SECTION 7.6.
	  	Reports by Trustee to Holders	  	 	102	  
		 	 SECTION 7.7.
	  	Compensation and Indemnity	  	 	103	  
		 	 SECTION 7.8.
	  	Replacement of Trustee	  	 	103	  
		 	 SECTION 7.9.
	  	Successor Trustee by Merger	  	 	104	  
		 	 SECTION 7.10.
	  	Eligibility; Disqualification	  	 	105	  
		 	 SECTION 7.11.
	  	Preferential Collection of Claims Against the Issuer	  	 	105	  
		 	 SECTION 7.12.
	  	Trustee’s Application for Instruction from the Issuer	  	 	105	  
		
	 ARTICLE VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	105	  
				
		 	 SECTION 8.1.
	  	Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance	  	 	105	  
		 	 SECTION 8.2.
	  	Legal Defeasance and Discharge	  	 	105	  
		 	 SECTION 8.3.
	  	Covenant Defeasance	  	 	106	  
		 	 SECTION 8.4.
	  	Conditions to Legal or Covenant Defeasance	  	 	107	  
		 	 SECTION 8.5.
	  	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	 	108	  
		 	 SECTION 8.6.
	  	Repayment to the Issuer	  	 	108	  
		 	 SECTION 8.7.
	  	Reinstatement	  	 	109	  
		
	 ARTICLE IX AMENDMENTS
	  	 	109	  
				
		 	 SECTION 9.1.
	  	Without Consent of Holders	  	 	109	  
		 	 SECTION 9.2.
	  	With Consent of Holders	  	 	110	  
		 	 SECTION 9.3.
	  	Compliance with Trust Indenture Act	  	 	112	  
		 	 SECTION 9.4.
	  	Revocation and Effect of Consents and Waivers	  	 	112	  
		 	 SECTION 9.5.
	  	Notation on or Exchange of Notes	  	 	113	  
		 	 SECTION 9.6.
	  	Trustee to Sign Amendments	  	 	113	  
		
	 ARTICLE X GUARANTEE
	  	 	113	  
				
		 	 SECTION 10.1.
	  	Guarantee	  	 	113	  
		 	 SECTION 10.2.
	  	Limitation on Liability; Termination, Release and Discharge	  	 	115	  
		 	 SECTION 10.3.
	  	Right of Contribution	  	 	117	  
		 	 SECTION 10.4.
	  	No Subrogation	  	 	117	  
		
	 ARTICLE XI RESERVED
	  	 	118	  
		
	 ARTICLE XII SATISFACTION AND DISCHARGE
	  	 	118	  
				
		 	 SECTION 12.1.
	  	Satisfaction and Discharge	  	 	118	  
		 	 SECTION 12.2.
	  	Application of Trust Money	  	 	119	  
		
	 ARTICLE XIII MISCELLANEOUS
	  	 	119	  
				
		 	 SECTION 13.1.
	  	Trust Indenture Act Controls	  	 	119	  
		 	 SECTION 13.2.
	  	Notices	  	 	120	  
		 	 SECTION 13.3.
	  	Communication by Holders with other Holders	  	 	121	  

  
 iii

									
	 	 	 	  	 	  	Page	 
				
		 	 SECTION 13.4.
	  	Certificate and Opinion as to Conditions Precedent	  	 	122	  
		 	 SECTION 13.5.
	  	Statements Required in Certificate or Opinion	  	 	122	  
		 	 SECTION 13.6.
	  	When Notes Disregarded	  	 	122	  
		 	 SECTION 13.7.
	  	Rules by Trustee, Paying Agent and Registrar	  	 	123	  
		 	 SECTION 13.8.
	  	Legal Holidays	  	 	123	  
		 	 SECTION 13.9.
	  	GOVERNING LAW	  	 	123	  
		 	 SECTION 13.10.
	  	USA Patriot Act	  	 	123	  
		 	 SECTION 13.11.
	  	No Recourse Against Others	  	 	123	  
		 	 SECTION 13.12.
	  	Successors	  	 	123	  
		 	 SECTION 13.13.
	  	Multiple Originals	  	 	123	  
		 	 SECTION 13.14.
	  	Qualification of Indenture	  	 	124	  
		 	 SECTION 13.15.
	  	Table of Contents; Headings	  	 	124	  
		 	 SECTION 13.16.
	  	WAIVERS OF JURY TRIAL	  	 	124	  
		 	 SECTION 13.17.
	  	Force Majeure	  	 	124	  

  

			
	EXHIBIT A	 	Form of Series A Note
	EXHIBIT B	 	Form of Series B Note
	EXHIBIT C	 	Form of Indenture Supplement to Add Future Subsidiary Guarantors

  
 iv 

 CROSS-REFERENCE TABLE 

 

			
	 TIA
 Section
	  	 Indenture

Section

		
	 310(a)(1)
	  	  7.10
	       (a)(2)
	  	  7.10
	       (a)(3)
	  	 N.A.
	       (a)(4)
	  	 N.A.
	       (a)(5)
	  	  7.10
	       (b)
	  	  7.3; 7.8; 7.10
	       (c)
	  	  7.10
	 311(a)
	  	  7.11
	       (b)
	  	  7.11
	       (c)
	  	 N.A.
	 312(a)
	  	  2.5
	       (b)
	  	13.3
	       (c)
	  	13.3
	 313(a)
	  	  7.6
	       (b)(1)
	  	  7.6; 11.2
	       (b)(2)
	  	  7.6; 11.2
	       (c)
	  	  7.6; 11.2
	       (d)
	  	  7.6
	 314(a)
	  	  3.11; 3.16; 13.5
	       (b)
	  	11.2(b)
	       (c)(1)
	  	13.4
	       (c)(2)
	  	13.4
	       (c)(3)
	  	 N.A.
	       (d)
	  	11.2; 11.6(b)
	       (e)
	  	13.5
	 315(a)
	  	  7.1
	       (b)
	  	  7.5; 13.2
	       (c)
	  	  7.1
	       (d)
	  	  7.1
	       (e)
	  	  6.11
	 316(a)(last sentence)
	  	13.6
	       (a)(1)(A)
	  	  6.5
	       (a)(1)(B)
	  	  6.4
	       (a)(2)
	  	 N.A.
	       (b)
	  	  6.7
	       (c)
	  	  6.5
	 317(a)(1)
	  	  6.8
	       (a)(2)
	  	  6.9
	       (b)
	  	  2.4
	 318(a)
	  	13.1

 N.A. means Not Applicable.

 Note: This Cross-Reference Table shall not, for any purpose, be deemed to be part of this Indenture. 

  
 v 

 INDENTURE dated as of December 10, 2010, among CITADEL BROADCASTING CORPORATION, a
Delaware corporation (the “Issuer”), WILMINGTON TRUST COMPANY, a Delaware banking corporation (the “Trustee”), as Trustee, and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation (the
“Agent”), as registrar, authentication agent and paying agent. 
 Each party agrees as follows for the benefit
of the other parties and for the equal and ratable benefit of the Holders of (i) the Issuer’s 7.75% Senior Notes, Series A, due 2018, issued on the date hereof (the “Initial Notes”), (ii) if and when issued, an
unlimited principal amount of additional 7.75% Senior Notes, Series A, due 2018 in a non-registered offering or 7.75% Senior Notes, Series B, due 2018 in a registered offering that may be offered from time to time subsequent to the Issue Date, in
each case subject to Section 2.1 (the “Additional Notes”) as provided in Section 2.1(a) and (iii) if and when issued, the Issuer’s 7.75% Senior Notes, Series B, due 2018 that may be issued from time
to time in exchange for Initial Notes or any Additional Notes in an offer registered under the Securities Act as provided in the Registration Rights Agreement, as hereinafter defined (the “Exchange Notes” and, together with the
Initial Notes and Additional Notes, the “Notes”): 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 
 SECTION 1.1. Definitions. 
 “Acquired Indebtedness”
means, with respect to any specified Person, 
 (1) Indebtedness of any other Person existing at the time such
other Person is merged with or into or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Restricted Subsidiary of
such specified Person; and 
 (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified
Person. 
 “Additional Interest” means all additional interest then owing pursuant to the Registration Rights
Agreement. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership
of voting securities, by agreement or otherwise. 
 “Applicable Premium” means, with respect to any Note on any
Redemption Date, the greater of: 
 (1) 1.0% of the principal amount of such Note; and 

 (2) the excess, if any, of (a) the present value at such Redemption Date of
(i) the redemption price of such Note at December 15, 2014 (such redemption price being set forth in the table appearing in Section 5.7(d)), plus (ii) all required interest payments due on such Note through
December 15, 2014 (excluding accrued but unpaid interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over (b) the principal amount of such
Note. 
 “Asset Sale” means: 
 (1) the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of related transactions, of property or assets (including by way of a Sale and Lease-Back
Transaction) of the Issuer (other than Equity Interests of the Issuer) or any of its Restricted Subsidiaries (each referred to in this definition as a “disposition”); or 

(2) the issuance or sale of Equity Interests of any Restricted Subsidiary (other than Preferred Stock of Restricted Subsidiaries
issued in compliance with Section 3.2 or directors’ qualifying shares and shares issued to foreign nationals as required under applicable law), whether in a single transaction or a series of related transactions, in each case, other
than: 
 (a) any disposition of Cash Equivalents or Investment Grade Securities or obsolete or worn out equipment in the
ordinary course of business or any disposition of inventory or goods (or other assets) held for sale or no longer used in the ordinary course of business of the Issuer and its Restricted Subsidiaries; 

(b) the disposition of all or substantially all of the assets of the Issuer in a manner permitted pursuant to
Section 4.1 or any disposition that constitutes a Change of Control pursuant to this Indenture; 
 (c) the
making of any Restricted Payment that is permitted to be made, and is made, under Section 3.3 and the making of any Permitted Investments; 
 (d) any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction or series of related transactions with an aggregate fair market value of less
than $5.0 million; 
 (e) any disposition of property or assets or issuance of securities by a Restricted Subsidiary
of the Issuer to the Issuer or by the Issuer or a Restricted Subsidiary of the Issuer to another Restricted Subsidiary of the Issuer; 
 (f) to the extent allowable under Section 1031 of the Internal Revenue Code of 1986, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 

(g) the lease, assignment, sub-lease, license or sublicense of any real or personal property in the ordinary course of business;

  
 2 

 (h) any issuance or sale of Equity Interests in, or Indebtedness or other securities
of, an Unrestricted Subsidiary; 
 (i) foreclosures, condemnation or any similar action on assets; 

(j) any disposition of Securitization Assets, or participations therein, in connection with any Qualified Securitization Financing,
or the disposition of an account receivable in connection with the collection or compromise thereof in the ordinary course of business; 
 (k) the granting of a Lien that is permitted by Section 3.6; 

(l) the sale or issuance by a Restricted Subsidiary of Preferred Stock or Disqualified Stock that is permitted by
Section 3.2; 
 (m) any financing transaction with respect to property constructed, acquired, replaced,
repaired or improved (including any reconstruction, refurbishment, renovation and/or development of real property) by the Issuer or any Restricted Subsidiary after the Issue Date, including Sale and Lease-Back Transactions and asset securitizations,
permitted by this Indenture; and 
 (n) any surrender or waiver of contractual rights or the settlement, release or
surrender of contractual rights or other litigation claims in the ordinary course of business. 
 “Bankruptcy
Code” means Title 11 of the United States Code, as amended. 
 “Bankruptcy Law” means the Bankruptcy
Code and any similar federal, state or foreign law for the relief of debtors. 
 “Board Resolution” means a
copy of a resolution certified by the Secretary or an Assistant Secretary of a Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification, and delivered to the
Trustee. 
 “Business Day” means each day which is not a Legal Holiday. 

“Capital Stock” means: 
 (1) in the case of a corporation, corporate stock; 
 (2) in the
case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of capital stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and 

(4) any other interest or participation that confers on a Person the right to receive a share of the profits and losses
of, or distributions of assets of, the issuing Person. 
 “Capitalized Lease Obligation” means, at the time any
determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with
GAAP. 

  
 3 

 “Cash Equivalents” means: 

(1) United States dollars; 
 (2) securities issued or directly and fully and unconditionally guaranteed or insured by the U.S. government or any agency or instrumentality thereof the securities of which are unconditionally guaranteed
as a full faith and credit obligation of such government with maturities of 24 months or less from the date of acquisition; 
 (3) certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year
and overnight bank deposits, in each case with any commercial bank having capital and surplus of not less than $300.0 million; 
 (4) repurchase obligations for underlying securities of the types described in clauses (2) and (3) entered into with any financial institution meeting the qualifications specified in clause
(3) above and in U.S. dollars; 
 (5) commercial paper rated at least P-2 by Moody’s or at least A-2 by
S&P and in each case maturing within 24 months after the date of creation thereof, in U.S. dollars; 
 (6)
marketable short-term money market and similar securities having a rating of at least P-2 or A-2 from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent
rating from another Rating Agency) and in each case maturing within 24 months after the date of creation thereof and in U.S. dollars; 
 (7) investment funds investing substantially all of their assets in securities of the types described in clauses (1) through (6) above; 

(8) readily marketable direct obligations issued by any state, commonwealth or territory of the United States or any
political subdivision or taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P with maturities of 24 months or less from the date of acquisition; 

(9) Indebtedness or Preferred Stock issued by Persons with a rating of “A” or higher from S&P or
“A2” or higher from Moody’s with maturities of 24 months or less from the date of acquisition and in each case in U.S. dollars; 
 (10) Investments with weighted average maturities of 12 months or less from the date of acquisition in money market funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the
equivalent thereof) or better by Moody’s and in each case in U.S. dollars; and 

  
 4 

 (11) credit card receivables and debit card receivables so long as such are
considered cash equivalents under GAAP and are so reflected on the Issuer’s balance sheet. 
 Notwithstanding the foregoing, Cash
Equivalents shall include amounts denominated in currencies other than U.S. dollars; provided that such amounts are converted into U.S. dollars as promptly as practicable and in any event within ten Business Days following the receipt of such
amounts. 
 “Cash Management Services” means any of the following to the extent not constituting a line of
credit (other than an overnight overdraft facility that is not in default): ACH transactions, treasury and/or cash management services, including, without limitation, controlled disbursement services, overdraft facilities, foreign exchange
facilities, deposit and other accounts and merchant services. 
 “Change of Control” means the occurrence of
any of the following: 
 (1) the sale, lease or transfer, in one or a series of related transactions (other than
by way of merger or consolidation), of all or substantially all of the assets of the Issuer and its Subsidiaries, taken as a whole, to any Person other than to any Subsidiary Guarantor; or 

(2) the Issuer becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of the Exchange
Act, proxy, vote, written notice or otherwise) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose
of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or
purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of 50% or more of the total voting power of the Voting Stock of the Issuer or any of its direct or indirect parent companies
holding directly or indirectly 100% of the total voting power of the Voting Stock of the Issuer; provided that for purposes of determining the beneficial ownership of the total voting power of the Voting Stock of the Issuer, all of the
outstanding shares of our Class B common stock shall be deemed to have been converted to outstanding shares of our Class A common stock; or 
 (3) the Issuer or any of its Restricted Subsidiaries that constitute all or substantially all of the business of the Issuer shall, on or before the first anniversary of the Issue Date, merge or
consolidate with or into or wind up into (whether or not the Issuer is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets to, in one or more related
transactions, any Person, or directly or indirectly enter into any business combination with any Person (other than (a) a merger or consolidation of the Issuer or a Subsidiary Guarantor with or into, or a transfer of all or part of its
properties or assets to the Issuer or a Subsidiary Guarantor, as applicable or (b) a merger or consolidation of the Issuer with or into an Affiliate of the Issuer solely for the purpose of reincorporating the Issuer in any state of the United
States, the District of Columbia or any territory thereof), or enter into an agreement or arrangement to do any of the foregoing (whether or not such transaction is completed on or before such first anniversary), if, upon completion of any such
transaction described above, immediately after giving pro forma effect to such transaction and any related financing transactions, as if such transactions had occurred at the beginning of the applicable four-quarter period, the Leverage Ratio
of the Issuer or other surviving Person or the Person formed by or surviving any such transaction, on a consolidated basis together with such Person’s Restricted Subsidiaries, shall be greater than 3.75 to 1.0; or 

  
 5 

 (4) the first day on which a majority of the members of the board of
directors of the Issuer are not Continuing Directors; or 
 (5) the adoption by the stockholders of the Issuer of
a plan or proposal for the liquidation or dissolution of the Issuer. 
 “Change of Control Triggering Event”
means a Change of Control; provided that, subject to the succeeding proviso, a transaction or other event described in clause (3) of the definition of “Change of Control” shall constitute a Change of Control Triggering Event
whether or not, after giving pro forma effect to such transaction and any related financing transactions, the Leverage Ratio described in such clause shall be greater than 3.75 to 1.0; and provided, further, that a Change of
Control Triggering Event shall not include a merger or consolidation with or into, a winding up into, a sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all properties or assets to, or a business combination
with a Person or Persons that would not, collectively, constitute a Significant Subsidiary if such Person or Persons were, collectively, a Restricted Subsidiary of the Issuer (and substituting 20 percent for 10 percent each place it appears in Rule
1-02(w) of Regulation S-X for purposes of the definition of Significant Subsidiary). 
 “Consolidated Depreciation and
Amortization Expense” means with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees of such Person and its Restricted Subsidiaries for such
period on a consolidated basis and otherwise determined in accordance with GAAP. 
 “Consolidated Interest
Expense” means, with respect to any Person for any period, without duplication, the sum of: 
  

	 	(1)	consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such expense was deducted (and not added back) in computing
Consolidated Net Income (including (a) amortization of original issue discount resulting from the issuance of Indebtedness at less than par, (b) all commissions, discounts and other fees and charges owed with respect to letters of credit
or bankers acceptances, (c) non-cash interest payments (but excluding any non-cash interest expense attributable to the movement in the mark-to-market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP),
(d) the interest component of Capitalized Lease Obligations, and (e) net payments, if any, pursuant to interest rate Hedging Obligations with respect to Indebtedness, and excluding (v) penalties and interest related to taxes,
(w) any Additional Interest with respect to the Notes, (x) amortization of deferred financing fees, debt issuance costs, discounted liabilities, commissions, fees and expenses, (y) any expensing of bridge, commitment and other
financing fees and (z) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Securitization Facility); plus 

  
 6 

  

	 	(2)	consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued; less 

 

	 	(3)	interest income for such period. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by such Person to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any Person for any period, the aggregate of the Net Income, of such
Person and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that, without duplication, 

(1) any net after-tax effect of extraordinary, non-recurring or unusual gains or losses, costs, charges or expenses (less
all fees and expenses relating thereto) (including any such amounts relating to the Refinancing Transactions to the extent incurred on or prior to the date that is the one year anniversary of the Issue Date), severance, relocation costs and
curtailments or modifications to pension and post-retirement employee benefit plans shall be excluded, 
 (2) the
Net Income for such period shall not include the cumulative effect of a change in accounting principles during such period, 
 (3) any net after-tax effect of income (loss) from disposed, abandoned or discontinued operations and any net after-tax gains or losses on disposal of disposed, abandoned or discontinued operations shall
be excluded, 
 (4) any net after-tax effect of gains or losses (less all fees and expenses relating thereto)
attributable to asset dispositions (including sales or other dispositions of assets under a Securitization Facility) other than in the ordinary course of business, as determined in Good Faith by the Issuer, shall be excluded, 

(5) the Net Income for such period of any Person that is not a Subsidiary, or is an Unrestricted Subsidiary, or that is
accounted for by the equity method of accounting, shall be excluded; provided that Consolidated Net Income of the Issuer shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash or Cash
Equivalents (or to the extent converted into cash or Cash Equivalents) to the referent Person or a Restricted Subsidiary thereof in respect of such period (without duplication for purposes of Section 3.3 of any amounts included in
Section 3.3(a)(iv)(C)(iv)(a)), 

  
 7 

 (6) solely for the purpose of determining the amount available for
Restricted Payments under Section 3.3(a)(iv)(C)(i), the Net Income for such period of any Restricted Subsidiary (other than any Subsidiary Guarantor) shall be excluded to the extent the declaration or payment of dividends or similar
distributions by that Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, is otherwise restricted by the operation of
the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends
or similar distributions has been legally waived; provided that Consolidated Net Income of the Issuer shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted
into cash) to the Issuer or a Restricted Subsidiary thereof in respect of such period, to the extent not already included therein, 
 (7) effects of adjustments (including the effects of such adjustments pushed down to the Issuer and its Restricted Subsidiaries) in such Person’s consolidated financial statements, including
adjustments to the inventory, property and equipment, software and other intangible assets (including favorable and unfavorable leases and contracts), deferred revenue and debt line items in such Person’s consolidated financial statements
pursuant to GAAP resulting from the application of purchase accounting in relation to any consummated acquisition or the amortization or write-off or write-down of any amounts thereof, net of taxes, shall be excluded, 

(8) any after-tax effect of income (loss) from the early extinguishment or cancellation of Indebtedness or Hedging
Obligations or other derivative instruments shall be excluded, 
 (9) any impairment charge, asset write-off or
write-down, in each case pursuant to GAAP and the amortization of intangibles and other assets arising pursuant to GAAP shall be excluded, 
 (10) any (i) non-cash compensation charge or expense recorded from grants of stock appreciation or similar rights, stock options, restricted stock or other rights and (ii) income (loss)
attributable to deferred compensation plans or trusts shall be excluded, 
 (11) any unrealized net gains and
losses resulting from Hedging Obligations or embedded derivatives that require similar accounting treatment and the application of Accounting Standards Codification Topic 815, Derivatives and Hedging, and related pronouncements shall be
excluded; and 
 (12) any net income or loss included in the consolidated financial statements as noncontrolling
interests due to the application of Accounting Standards Codification Topic 810, Consolidation, shall be excluded. 
 In
addition, to the extent not already included in the Net Income of such Person and its Restricted Subsidiaries, notwithstanding anything to the contrary in the foregoing, Consolidated Net Income shall include the amount of proceeds received from
business interruption insurance and reimbursements of any expenses and charges that are covered by indemnification or other reimbursement provisions in connection with any Permitted Investment or any sale, conveyance, transfer or other disposition
of assets permitted under this Indenture. 

  
 8 

 Notwithstanding the foregoing, for the purpose of Section 3.3 only (other than
Section 3.3(a)(iv)(C)(iv)), there shall be excluded from Consolidated Net Income any income arising from any sale or other disposition of Restricted Investments made by the Issuer and its Restricted Subsidiaries, any repurchases and
redemptions of Restricted Investments from the Issuer and its Restricted Subsidiaries, any repayments of loans and advances which constitute Restricted Investments by the Issuer or any of its Restricted Subsidiaries, any sale of the stock of an
Unrestricted Subsidiary or any distribution or dividend from an Unrestricted Subsidiary, in each case only to the extent such amounts increase the amount of Restricted Payments permitted under Section 3.3(a)(C)(iv). 

“Consolidated Total Indebtedness” means, as at any date of determination, an amount equal to the sum of (1) the
aggregate amount of all outstanding Indebtedness of the Issuer and its Restricted Subsidiaries on a consolidated basis consisting of Indebtedness for borrowed money, Obligations in respect of Capitalized Lease Obligations and debt obligations
evidenced by promissory notes and similar instruments (and including, for the avoidance of doubt, all obligations relating to Qualified Securitization Financings) and (2) the aggregate amount of all outstanding Disqualified Stock of the Issuer
and all Disqualified Stock and Preferred Stock of its Restricted Subsidiaries on a consolidated basis, with the amount of such Disqualified Stock and Preferred Stock equal to the greater of their respective voluntary or involuntary liquidation
preferences and maximum fixed repurchase prices, in each case determined on a consolidated basis in accordance with GAAP; provided that Indebtedness of the Issuer and its Restricted Subsidiaries under any revolving credit facility or line of
credit as at any date of determination shall be determined using the Average Quarterly Balance of such Indebtedness for the most recently ended four fiscal quarters for which internal financial statements are available as of such date of
determination (the “Reference Period”). 
 For purposes hereof, (a) the “maximum fixed repurchase
price” of any Disqualified Stock or Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred Stock as if such Disqualified Stock or Preferred Stock were
purchased on any date on which Consolidated Total Indebtedness shall be required to be determined pursuant to this Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock or Preferred Stock, such
fair market value shall be determined reasonably and in Good Faith by the Issuer, (b) “Average Quarterly Balance” means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving
facility or line of credit, the quotient of (x) the sum of each Individual Quarterly Balance for each fiscal quarter ended on or prior to such date of determination and included in the Reference Period divided by (y) 4, and
(c) “Individual Quarterly Balance” means, with respect to any Indebtedness incurred by the Issuer or its Restricted Subsidiaries under a revolving credit facility or line of credit during any fiscal quarter of the Issuer, the
quotient of (x) the sum of the aggregate outstanding principal amount of all such Indebtedness at the end of each day of such quarter divided by (y) the number of days in such fiscal quarter. 

  
 9 

 “Contingent Obligations” means, with respect to any Person, any obligation
of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or
indirectly, including, without limitation, any obligation of such Person, whether or not contingent, 
 (1) to
purchase any such primary obligation or any property constituting direct or indirect security therefor, 
 (2) to
advance or supply funds 
  

	 	(a)	for the purchase or payment of any such primary obligation, or 

  

	 	(b)	to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, or

  

	 	(3)	to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to
make payment of such primary obligation against loss in respect thereof. 

 “Continuing
Directors” means, as of any date of determination, any member of the board of directors of the Issuer who: (1) was a member of such board of directors on the Issue Date or (2) was nominated for election or elected to such board of
directors with the approval of a majority of the Continuing Directors who were members of such board of directors at the time of such nomination or election. 
 “Credit Facilities” means, with respect to the Issuer or any of its Restricted Subsidiaries, one or more debt facilities, including the New Credit Facilities, or other financing
arrangements (including, without limitation, commercial paper facilities or indentures) providing for revolving credit loans, term loans, letters of credit or other indebtedness, including any notes, mortgages, guarantees, collateral documents,
instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refunding thereof and any indentures or credit facilities or commercial paper facilities that replace,
refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or
alters the maturity thereof (provided that such increase in borrowings is permitted under Section 3.2) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent,
lender or investor or group of lenders or investors. 
 “Default” means any event that is, or with the passage
of time or the giving of notice or both would be, an Event of Default; provided that any Default that results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed to be
cured if such previous Default is cured prior to becoming an Event of Default. 
 “Definitive Notes” means
certificated Notes. 

  
 10 

 “Designated Non-cash Consideration” means the fair market value of non-cash
consideration received by the Issuer or a Restricted Subsidiary in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting forth the basis of such valuation,
executed by the principal financial officer of the Issuer, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Issuer or any parent company thereof (in each case other than
Disqualified Stock) that is issued for cash (other than to a Restricted Subsidiary or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an
Officer’s Certificate executed by the principal financial officer of the Issuer or the applicable parent company thereof, as the case may be, on the issuance date thereof, the cash proceeds of which are excluded from the calculation set forth
in Section 3.3(a)(C). 
 “Disqualified Stock” means, with respect to any Person, any Capital Stock
of such Person which, by its terms, or by the terms of any security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event, matures or is mandatorily redeemable (other than solely as a result of a
change of control or asset sale) pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than solely as a result of a change of control or asset sale), in whole or in part, in each case prior
to the date 91 days after the earlier of the maturity date of the Notes or the date the Notes are no longer outstanding; provided, however, that if such Capital Stock is issued to any plan for the benefit of employees of the
Issuer or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer or its Subsidiaries in order to satisfy applicable
statutory or regulatory obligations. 
 “DTC” means The Depository Trust Company, its nominees and their
respective successors and assigns, or such other depository institution hereinafter appointed by the Issuer. 

“EBITDA” means, with respect to any Person for any period, the Consolidated Net Income of such Person for such period

  

	 	(1)	increased (without duplication) by: 

  

	 	(a)	provision for taxes based on income or profits or capital, including, without limitation, state, franchise and similar taxes and foreign withholding taxes of such
Person paid or accrued during such period deducted (and not added back) in computing Consolidated Net Income; plus 

  

	 	(b)	Fixed Charges of such Person for such period (including (x) net losses on Hedging Obligations or other derivative instruments entered into for the purpose of
hedging interest rate risk and (y) costs of surety bonds in connection with financing activities, plus amounts excluded from the definition of “Consolidated Interest Expense” pursuant to clauses 1(v) through 1(z) thereof, to the
extent the same were deducted (and not added back) in calculating such Consolidated Net Income); plus 

  
 11 

  

	 	(c)	Consolidated Depreciation and Amortization Expense of such Person for such period to the extent the same were deducted (and not added back) in computing Consolidated
Net Income; plus 

  

	 	(d)	any expenses or charges (other than depreciation or amortization expense) related to any Equity Offering, Permitted Investment, acquisition, disposition,
recapitalization or the incurrence of Indebtedness permitted to be incurred by this Indenture (including a refinancing thereof) (whether or not successful) or an amendment or modification of any debt instrument, including 

(i) such fees, expenses or charges related to the offering of the Notes and the New Credit Facilities and any Securitization Fees, and

 (ii) any amendment or other modification of the Notes, the New Credit Facilities and any Securitization Fees, in each case,
deducted (and not added back) in computing Consolidated Net Income; plus 
  

	 	(e)	the amount of any restructuring charge or reserve, integration cost or other business optimization expense or cost associated with establishing new facilities that is
certified by the chief financial officer of the Issuer and deducted (and not added back) in such period in computing Consolidated Net Income, including any one-time costs incurred in connection with acquisitions after the Issue Date and costs
related to the closure and/or consolidation of facilities; provided that the aggregate amount of all charges, expenses, costs and losses added back under this clause (e) in the aggregate in any consecutive four-quarter period will not exceed
$10.0 million in the aggregate; plus 

  

	 	(f)	any other non-cash charges, expenses or losses reducing Consolidated Net Income for such period (including any impairment charges or the impact of purchase accounting
and the effects of fresh start accounting under SOP 90-7), excluding any such charge that represents an accrual or reserve for a cash expenditure for a future period; plus 

 

	 	(g)	any costs or expense incurred by the Issuer or a Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee
benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded with cash proceeds contributed to the capital of the Issuer or net cash proceeds of an issuance of Equity Interests of
the Issuer (other than Disqualified Stock), solely to the extent that such net cash proceeds are excluded from the calculation set forth in Section 3.3(a)(C); plus 

  
 12 

  

	 	(h)	the amount of loss on sale of Securitization Assets and related assets to the Securitization Subsidiary in connection with a Qualified Securitization Financing; plus
 

  

	 	(i)	cash receipts (or any netting arrangements resulting in reduced cash expenditures) not representing EBITDA or Net Income in any period to the extent non-cash gains
relating to such income were deducted in the calculation of EBITDA pursuant to clause (2) below for any previous period and not added back; plus 

 

	 	(j)	net realized losses from Hedging Obligations or embedded derivatives that require similar accounting treatment and the application of Accounting Standard Codification
Topic 815, Derivatives and Hedging, and related pronouncements; plus  

  

	 	(k)	restructuring or reorganization charges or reserves relating to the transactions contemplated by the Issuer’s Second Modified Joint Plan of Reorganization under
Chapter 11 of the Bankruptcy Code, dated May 10, 2010, including (i) professional and service provider fees related to the Issuer’s bankruptcy (including, but not limited to, legal, accounting and tax professionals, as well as any
associated out-of-pocket costs), (ii) investment advisory fees associated with the Issuer’s Chapter 11 proceedings, (iii) professional fees and temporary staffing costs related to claims resolution, (iv) fresh start accounting
professional fees (including tax professionals, valuation professionals and other accounting professionals), (v) costs associated with rejected contracts, (vi) write-off of loan costs due to bankruptcy, (vii) United States Trustee
fees, (viii) cure costs associated with the assumption of executory contracts and unexpired leases, including network talent contracts, and (ix) charges relating to administrative claims arising during the course of the Issuer’s
Chapter 11 proceedings, in each case to the extent deducted in computing Consolidated Net Income; 

  

	 	(2)	decreased (without duplication) by: (a) non-cash gains increasing Consolidated Net Income of such Person for such period (including the effects of fresh-start
accounting under SOP 90-7), excluding any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced EBITDA in any prior period and any non-cash gains with respect to cash actually
received in a prior period so long as such cash did not increase EBITDA in such prior period; plus (b) any net realized income or gains from Hedging Obligations or embedded derivatives that require similar accounting treatment and the
application of Accounting Standard Codification Topic 815, Derivatives and Hedging, and related pronouncements, and 

  

	 	(3)	increased or decreased by (without duplication), as applicable, any adjustments resulting from the application of Accounting Standards Codification Topic 460 ̧
Guarantees, or any comparable regulation. 

  
 13 

 “Equity Interests” means Capital Stock and all warrants, options or other
rights to acquire Capital Stock, but excluding any debt security that is convertible into, or exchangeable for, Capital Stock. 

“Equity Offering” means any public or private sale of common stock or Preferred Stock of the Issuer or any of its direct
or indirect parent companies (excluding Disqualified Stock), other than: 
 (1) public offerings with respect to the
Issuer’s or any direct or indirect parent company’s common stock registered on Form S-4 or Form S-8; and 
 (2)
issuances to any Subsidiary of the Issuer. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the SEC promulgated thereunder. 
 “Exchange Notes” means any notes
issued in exchange for Notes pursuant to the Registration Rights Agreement or similar agreement. 
 “FCC” means
the Federal Communications Commission or any governmental authority succeeding to the Federal Communications Commission. 

“FCC Licenses” means (a) the licenses, permits, authorizations or certificates to construct, own or operate the
television or radio stations granted by the FCC, and all extensions, additions and renewals thereto or thereof, and (b) the licenses, permits, authorizations or certificates which are necessary to construct, own or operate the television or
radio stations granted by administrative law courts or any state, county, city, town, village or other local government authority, and all extensions, additions and renewals thereto or thereof. 

“Fiscal Year” means the fiscal year of the Issuer ending on December 31 of each year or such other date as the
board of directors of the Issuer may approve. 
 “Fixed Charges” means, with respect to any Person for any
period, the sum of: 
  

	 	(1)	Consolidated Interest Expense of such Person for such period; 

  

	 	(2)	all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Preferred Stock during such period; and

  

	 	(3)	all cash dividends or other distributions paid (excluding items eliminated in consolidation) on any series of Disqualified Stock during such period.

 “Foreign Subsidiary” means, with respect to any Person, any Restricted Subsidiary of such
Person that is not organized or existing under the laws of the United States, any state thereof, the District of Columbia or any territory thereof, and any Restricted Subsidiary of such Foreign Subsidiary. 

  
 14 

 “GAAP” means generally accepted accounting principles in the United States
which are in effect on the Issue Date. 
 “Good Faith by the Issuer” means the decision in good faith by a
responsible financial officer of the Issuer; provided that (a) if such decision involves a determination of fair market value in excess of $5.0 million, the decision is made in good faith by the Senior Management of the Issuer and
(b) if such decision involves a determination of fair market value in excess of $15.0 million, the decision is made in good faith by the board of directors of the Issuer. 
 “Government Securities” means securities that are: 
  

	 	(1)	direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or 

 

	 	(2)	obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

 which, in either case, are
not callable or redeemable at the option of the issuers thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or
a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced
by such depository receipt. 
 “guarantee” means a guarantee (other than by endorsement of negotiable
instruments for collection in the ordinary course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. 

“Guarantee” means the guarantee by any Subsidiary Guarantor of the Issuer’s Obligations under this Indenture and
the Notes. 
 “Hedging Obligations” means, with respect to any Person, the obligations of such Person under any
interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity collar agreement, foreign exchange contract, currency swap agreement or similar agreement
providing for the transfer or mitigation of interest rate, commodity price or currency risks either generally or under specific contingencies. 
 “Holder” means the Person in whose name a Note is registered on the registrar’s books. 

  
 15 

 “IAI” means an institutional “accredited investor” as described
in Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 
 “Indebtedness” means, with respect to
any Person, without duplication: 
  

	 	(1)	any indebtedness (including principal and premium) of such Person, whether or not contingent: 

(a) in respect of borrowed money; 
 (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof); 

(c) representing the balance deferred and unpaid of the purchase price of any property (including Capitalized Lease
Obligations), except (i) any such balance that constitutes an obligation in respect of a commercial letter of credit, a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business (and with
respect to commercial letters of credit, repaid in a timely manner) and (ii) any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and is not paid after becoming due and
payable; or 
 (d) representing any Hedging Obligations; 

if and to the extent that any of the foregoing Indebtedness (other than letters of credit and Hedging Obligations) would
appear as a liability upon a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 
  

	 	(2)	to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor, guarantor or otherwise, on the obligations of the type
referred to in clause (1) of a third Person (whether or not such items would appear upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the ordinary course of business; and

  

	 	(3)	to the extent not otherwise included, the obligations of the type referred to in clause (1) of a third Person secured by a Lien on any asset owned by such first
Person, whether or not such Indebtedness is assumed by such first Person; 

 provided, however, that notwithstanding
the foregoing, Indebtedness shall be deemed not to include Contingent Obligations incurred in the ordinary course of business. For the avoidance of doubt, Indebtedness does not include Cash Management Services. 

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

  
 16 

 “Independent Financial Advisor” means an accounting, appraisal, investment
banking firm or consultant to Persons engaged in Similar Businesses of nationally recognized standing that is, in the good faith judgment of the Issuer, qualified to perform the task for which it has been engaged. 

“Initial Notes” has the meaning ascribed to it in the second introductory paragraph of this Indenture. 

“Initial Purchasers” means J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and RBS Securities Inc. 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or, in either case, an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 
  

	 	(1)	securities issued or directly and fully guaranteed or insured by the United States government or any agency or instrumentality thereof (other than Cash Equivalents);

  

	 	(2)	debt securities or debt instruments with an Investment Grade Rating, but excluding any debt securities or instruments constituting loans or advances among the Issuer
and its Subsidiaries; 

  

	 	(3)	investments in any fund that invests exclusively in investments of the type described in clauses (1) and (2) which fund may also hold immaterial amounts of
cash pending investment or distribution; and 

  

	 	(4)	corresponding instruments in countries other than the United States customarily utilized for high quality investments. 

“Investments” means, with respect to any Person, all investments by such Person in other Persons (including Affiliates)
in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, credit card and debit card receivables, trade credit, advances to customers, commission, travel and similar advances to officers and
employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be
classified on the balance sheet (excluding the footnotes) of the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For purposes of the
definition of “Unrestricted Subsidiary” and Section 3.3: 
 (1) “Investments”
shall include the portion (proportionate to the Issuer’s equity interest in such Subsidiary) of the fair market value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary;
provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to:

  

	 	(a)	the Issuer’s “Investment” in such Subsidiary at the time of such redesignation; less 

  
 17 

  

	 	(b)	the portion (proportionate to the Issuer’s equity interest in such Subsidiary) of the fair market value of the net assets of such Subsidiary at the time of such
redesignation; 

 (2) any property transferred to or from an Unrestricted Subsidiary shall be
valued at its fair market value at the time of such transfer, in each case as determined in Good Faith by the Issuer; and 
 (3) if the Issuer or any Restricted Subsidiary sells or otherwise disposes of any Voting Stock of any Restricted Subsidiary such that, after giving effect to any such sale or disposition, such entity is
no longer a Subsidiary of the Issuer, the Issuer shall be deemed to have made an Investment on the date of any such sale or disposition equal to the fair market value of the Capital Stock of such Subsidiary not sold or disposed of. 

“Issue Date” means December 10, 2010. 
 “Issuer” means Citadel Broadcasting Corporation, a Delaware corporation, and its permitted successors. 
 “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. 

“Leverage Ratio” as of any date of determination, means the ratio of: 

(1) Consolidated Total Indebtedness of the Issuer and its Restricted Subsidiaries at the time of determination, to

 (2) the Issuer’s EBITDA for the most recently ended four full fiscal quarters for which financial
statements are available immediately preceding the date on which such event for which such calculation is being made shall occur; 
 provided, however, that: 
 (3) if the Issuer or any
Restricted Subsidiary has incurred, repaid, repurchased, redeemed, retired, defeased or otherwise discharged any Indebtedness since the beginning of such period that remains outstanding on such date of determination or if the transaction giving rise
to the need to calculate the Leverage Ratio involves an incurrence, repayment, repurchase, redemption, retirement, defeasement or other discharge of Indebtedness, Indebtedness at the end of such period, EBITDA and Consolidated Interest Expense for
such period will be calculated after giving effect on a pro forma basis to such incurrence, repayment, repurchase, redemption, retirement, defeasement or other discharge of Indebtedness as if such Indebtedness had been Incurred on the first
day of such period: 

  
 18 

 (4) if since the beginning of such period the Issuer or any Restricted
Subsidiary will have made any Asset Sale or disposed of or discontinued any company, division, operating unit, segment, business, group of related assets or line of business or if the transaction giving rise to the need to calculate the Leverage
Ratio includes such an Asset Sale, EBITDA, Consolidated Interest Expense and Indebtedness for such period will be calculated after giving pro forma effect thereto (including the incurrence of any Indebtedness) as if such Asset Sale,
disposition or discontinuation occurred on the first day of such period. 
 (5) if since the beginning of such
period the Issuer or any Restricted Subsidiary (by merger or otherwise) will have made an Investment in any Restricted Subsidiary (or any Person that becomes a Restricted Subsidiary or is merged with or into the Issuer or a Restricted Subsidiary) or
an acquisition of assets, including any acquisition of assets occurring in connection with a transaction causing a calculation to be made hereunder, which constitutes all or substantially all of a company, division, operating unit, segment, business
or group of related assets or line of business, EBITDA, Consolidated Interest Expense and Indebtedness for such period will be calculated after giving pro forma effect thereto (including the incurrence of any Indebtedness) as if such
Investment or acquisition occurred on the first day of such period; and 
 (6) if since the beginning of such
period any Person (that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning of such period) will have incurred any Indebtedness or discharged any Indebtedness or made any
disposition or any Investment or acquisition of assets that would have required an adjustment pursuant to clause (3), (4) or (5) above if made by the Issuer or a Restricted Subsidiary during such period, EBITDA, Consolidated Interest
Expense and Indebtedness for such period will be calculated after giving pro forma effect thereto as if such transaction occurred on the first day of such period. 
 The pro forma calculations will be determined in good faith by a responsible financial or accounting Officer of the Issuer (including pro forma expense and cost reductions calculated on a basis consistent
with Regulation S-X under the Securities Act). If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest expense on such Indebtedness will be calculated as if the rate in effect on the date of
determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable to such Indebtedness if such Interest Rate Agreement has a remaining term in excess of 12 months). 

“License Subsidiary” means a wholly-owned Subsidiary of the Issuer that (x) owns no material assets other than FCC
Licenses and related rights and (y) has no material liabilities other than (i) trade payables incurred in the ordinary course of business and (ii) tax liabilities, other governmental charges and other liabilities incidental to
ownership of such rights. 
 “Lien” means, with respect to any asset, any mortgage, lien (statutory or
otherwise), pledge, hypothecation, charge, security interest, preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or
other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent
statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a Lien. 

  
 19 

 “Moody’s” means Moody’s Investors Service, Inc. and any successor
to its rating agency business. 
 “Net Income” means, with respect to any Person, the net income (loss) of such
Person, determined in accordance with GAAP. 
 “Net Proceeds” means the aggregate cash proceeds received by the
Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale, including any cash received upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale, net of the direct costs relating to such
Asset Sale and the sale or disposition of such Designated Non-cash Consideration, including legal, accounting and investment banking fees, and brokerage and sales commissions, any relocation expenses incurred as a result thereof; taxes paid or
payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing arrangements), amounts required to be applied to the repayment of principal, premium, if any, and interest on Senior Indebtedness
secured by a Lien on the assets disposed of required (other than required by Section 3.5(b)(1)) to be paid as a result of such transaction and any deduction of appropriate amounts to be provided by the Issuer or any of its Restricted
Subsidiaries as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer or any of its Restricted Subsidiaries after such sale or other disposition thereof,
including pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. 

“New Credit Facilities” means the Credit Facility under the Credit Agreement to be entered into as of the Issue Date by
and among the Issuer, the lenders party thereto in their capacities as lenders thereunder and J.P. Morgan Chase Bank, N.A., as Administrative Agent, including any guarantees, collateral documents, instruments and agreements executed in connection
therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof and any indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or
investors that replace, refund or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable
thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted by Section 3.2). 
 “Non-Guarantor Subsidiary” means any Restricted Subsidiary that is not a Subsidiary Guarantor. 
 “Non-U.S. Person” means a Person who is not a U.S. Person (as defined in Regulation S). 
 “Notes” has the meaning ascribed to it in the second introductory paragraph of this Indenture. 

  
 20 

 “Notes Custodian” means the custodian with respect to the Global Notes or
any successor Person thereto and shall initially be the Agent. 
 “Obligations” means any principal, interest
(including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under
applicable state, federal or foreign law), premium, penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities, and
guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Offering Memorandum” means the final offering memorandum, dated December 6, 2010 relating to the offering by the
Issuer of $400.0 million principal amount of Notes and any future offering memorandum relating to Additional Notes. 

“Officer” means the Chairman of the Board, the Chief Executive Officer, the President, any Executive Vice President,
Senior Vice President or Vice President, the Treasurer or the Secretary of the Issuer or any other Person, as the case may be. 

“Officer’s Certificate” means a certificate signed on behalf of the Issuer by an Officer of the Issuer or on behalf
of any other Person, as the case may be, who must be the principal executive officer, the principal financial officer or the principal accounting officer of the Issuer or such other Person that meets the requirements set forth in this Indenture, and
delivered to the Trustee with a copy to the Agent. 
 “Opinion of Counsel” means a written opinion from legal
counsel who is acceptable to the Trustee and that meets the requirements set forth in this Indenture. The counsel may be an employee of or counsel to the Issuer. 
 “Permitted Asset Swap” means the concurrent purchase and sale or exchange of Related Business Assets or a combination of Related Business Assets and cash or Cash Equivalents between the
Issuer or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalent received must be applied in accordance with Section 3.5. 
 “Permitted Investments” means 
 (1) any Investment
in the Issuer or any of its Restricted Subsidiaries; 
 (2) any Investment in cash and Cash Equivalents or
Investment Grade Securities; 
 (3) any Investment by the Issuer or any of its Restricted Subsidiaries in a
Person that is engaged in a Similar Business if as a result of such Investment: 
  

	 	(a)	such Person becomes a Restricted Subsidiary; or 

  
 21 

 (b) such Person, in one transaction or a series of related transactions, is merged or
consolidated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary, 
 and, in each case, any Investment held by such Person; provided that such Investment was not acquired by such Person in contemplation of such acquisition, merger, consolidation or transfer; 

(4) any Investment in securities or other assets not constituting cash, Cash Equivalents or Investment Grade Securities
and received in connection with an Asset Sale made pursuant to the provisions of Section 3.5 or any other disposition of assets not constituting an Asset Sale; 

(5) any Investment existing on the Issue Date and any extension, modification, replacement or renewal of any such
Investments existing on the Issue Date, but only to the extent not involving additional advances, contributions or other Investments of cash or other assets or other increases thereof other than as a result of the accrual or accretion of interest or
original issue discount or the issuance of pay-in-kind securities, in each case, pursuant to the terms of such Investment as in effect on the Issue Date (or as subsequently amended or otherwise modified in a manner not disadvantageous to the Holders
of the Notes in any material respect); 
 (6) any Investment acquired by the Issuer or any of its Restricted
Subsidiaries: 
 (a) in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted
Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable; or 
 (b) as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default;

 (7) Hedging Obligations permitted under Section 3.2(b)(10); 

(8) Investments the payment for which consists of Equity Interests (exclusive of Disqualified Stock) of the Issuer, or any
of its direct or indirect parent companies; provided, however, that such Equity Interests shall not increase the amount available for Restricted Payments under Section 3.3(a)(C); 

(9) guarantees of Indebtedness permitted under Section 3.2; 

(10) any transaction to the extent it constitutes an Investment that is permitted and made in accordance with
Section 3.8(b) (except transactions permitted by clauses (2), (4), (9) and (11) of Section 3.8(b)); 

(11) Investments consisting of purchases and acquisitions of inventory, supplies, material or equipment; 

  
 22 

 (12) additional Investments having an aggregate fair market value, taken
together with all other Investments made pursuant to this clause (12) that are at that time outstanding (without giving effect to the sale of an Unrestricted Subsidiary to the extent the proceeds of such sale do not consist of cash or
marketable securities), not to exceed the greater of (x) $25.0 million and (y) 1.0% of Total Assets at the time of such Investment (with the fair market value of each Investment being measured at the time made and without giving effect to
subsequent changes in value); 
 (13) Investments relating to a Securitization Subsidiary that, in the good faith
determination of the Issuer are necessary or advisable to effect any Qualified Securitization Financing; 
 (14)
advances to, or guarantees of Indebtedness of, officers, directors and employees not in excess of $5.0 million outstanding at any one time, in the aggregate; 
 (15) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other similar expenses, in each case incurred in the ordinary course of business or
consistent with past practices or to fund such Person’s purchase of Equity Interests of the Issuer or any direct or indirect parent company thereof; and 
 (16) Investments consisting of licensing of intellectual property pursuant to joint marketing arrangements with other Persons. 
 “Permitted Liens” means, with respect to any Person: 
 (1) pledges or deposits by such Person under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other
than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety or appeal bonds to which such
Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case incurred in the ordinary course of business; 

(2) Liens imposed by law, such as carriers’, warehousemen’s, materialmen’s, repairmen’s and
mechanics’ Liens, in each case for sums not yet overdue for a period of more than 30 days or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which
such Person shall then be proceeding with an appeal or other proceedings for review if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 

(3) Liens for taxes, assessments or other governmental charges not yet overdue for a period of more than 30 days or which
are being contested in good faith by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP, or for property taxes on property that the Issuer or one
of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment, charge, levy or claims is to such property; 

  
 23 

 (4) Liens in favor of issuers of performance, surety, bid, indemnity,
warranty, release, appeal or similar bonds or with respect to other regulatory requirements or letters of credit or bankers’ acceptances issued, and completion guarantees provided for, in each case pursuant to the request of and for the account
of such Person in the ordinary course of its business; 
 (5) minor survey exceptions, minor encumbrances, ground
leases, easements or reservations of, or rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph and telephone and cable television lines, gas and oil pipelines and other similar purposes, or zoning,
building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental, to the conduct of the business of such Person or to the
ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially impair their use in the operation of the business of such Person; 

(6) Liens securing Indebtedness permitted to be incurred pursuant to Section 3.2(b)(4); 

(7) Liens existing on the Issue Date (with the exception of Liens securing the New Credit Facilities, on the Issue Date,
which shall be deemed incurred pursuant to clause (32) of this definition); 
 (8) Liens on property or
shares of stock of a Person at the time such Person becomes a Subsidiary; provided, however, such Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided,
further, however, that such Liens may not extend to any other property owned by the Issuer or any of its Restricted Subsidiaries; 
 (9) Liens on property at the time the Issuer or a Restricted Subsidiary acquired the property, including any acquisition by means of a merger or consolidation with or into the Issuer or any of its
Restricted Subsidiaries; provided, however, that such Liens are not created or incurred in connection with, or in contemplation of, such acquisition, merger or consolidation; provided, further, however, that the Liens may not extend to
any other property owned by the Issuer or any of its Restricted Subsidiaries; 
 (10) Liens securing Indebtedness
or other obligations of a Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary permitted to be incurred in accordance with Section 3.2; 

(11) Liens securing Hedging Obligations and Cash Management Services entered into in the ordinary course of business (and
not for speculative purposes); 
 (12) Liens on specific items of inventory or other goods and proceeds of any
Person securing such Person’s obligations in respect of bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

  
 24 

 (13) leases, subleases, licenses or sublicenses granted to others in the
ordinary course of business which do not materially interfere with the ordinary conduct of the business of the Issuer or any of its Restricted Subsidiaries and do not secure any Indebtedness; 

(14) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases or consignments
entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; 
 (15) Liens in
favor of the Issuer or any Subsidiary Guarantor; 
 (16) Liens on Securitization Assets and related assets
incurred in connection with a Qualified Securitization Financing; 
 (17) Liens to secure any refinancing,
refunding, extension, renewal or replacement (or successive refinancing, refunding, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (7), (8) and (9);
provided, however, that (a) such new Lien shall be limited to all or part of the same property that secured the original Lien (plus improvements on such property), and (b) the Indebtedness secured by such Lien at such time is
not increased to any amount greater than the sum of (i) the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (7), (8) and (9) at the time the original Lien became a Permitted
Lien under the Indenture, and (ii) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; 

(18) deposits made or other security provided to secure liabilities to insurance carriers under insurance or
self-insurance arrangements in the ordinary course of business; 
 (19) other Liens securing obligations incurred
in the ordinary course of business which obligations do not exceed $20.0 million at any one time outstanding; 

(20) Liens securing judgments for the payment of money not constituting an Event of Default under
Section 6.1(a)(7) so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or the period within which such
proceedings may be initiated has not expired; 
 (21) Liens in favor of customs and revenue authorities arising
as a matter of law to secure payment of customs duties in connection with the importation of goods in the ordinary course of business; 
 (22) Liens (i) of a collection bank arising under Section 4-210 of the Uniform Commercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or other
commodity brokerage accounts incurred in the ordinary course of business, and (iii) in favor of banking institutions arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters
customary in the banking industry; 

  
 25 

 (23) Liens deemed to exist in connection with Investments in repurchase
agreements permitted under Section 3.2; provided that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement; 

(24) Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to
commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 
 (25) Liens that are contractual rights of set-off (i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness,
(ii) relating to pooled deposit or sweep accounts of the Issuer or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer and its Restricted
Subsidiaries or (iii) relating to purchase orders and other agreements entered into with customers of the Issuer or any of its Restricted Subsidiaries in the ordinary course of business; 

(26) Liens solely on any cash earnest money deposits made by the Issuer or any of its Restricted Subsidiaries in
connection with any letter of intent or purchase agreement permitted under this Indenture; 
 (27) the
rights reserved or vested in any Person by the terms of any lease, license, franchise, grant or permit held by the Issuer or any of its Restricted Subsidiaries or by a statutory provision, to terminate any such lease, license, franchise, grant or
permit, or to require annual or periodic payments as a condition to the continuance thereof; 

(28) restrictive covenants affecting the use to which real property may be put; provided, however, that the
covenants are complied with; 
 (29) security given to a public utility or any municipality or governmental
authority when required by such utility or authority in connection with the operations of that Person in the ordinary course of business; 
 (30) zoning by-laws and other land use restrictions, including, without limitation, site plan agreements, development agreements and contract zoning agreements; 

(31) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods
entered into by the Issuer or any Restricted Subsidiary in the ordinary course of business; 
 (32) Liens
securing Indebtedness permitted to be incurred under Credit Facilities, including any letter of credit facility relating thereto, that was permitted by the terms of this Indenture to be incurred pursuant to Section 3.2(b)(1); and

 (33) Liens incurred to secure Obligations in respect of any Indebtedness (other than Subordinated
Indebtedness) permitted to be incurred pursuant to Section 3.2; provided that, with respect to Liens securing Obligations permitted under this clause (33), at the time of incurrence and after giving pro forma thereto, the Secured
Leverage Ratio would be no greater than 3.0 to 1.0. 

  
 26 

 For purposes of this definition, the term “Indebtedness” shall be deemed to include interest on
such Indebtedness. 
 “Person” means any individual, corporation, limited liability company, partnership, joint
venture, association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
 “Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note and, for the purposes of this
definition, any Note authenticated and delivered under Section 2.10 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Note.

 “Preferred Stock” means any Equity Interest with preferential rights of payment of dividends or upon
liquidation, dissolution, or winding up. 
 “Qualified Proceeds” means assets that are used or useful in, or
Capital Stock of any Person engaged in, a Similar Business; provided that the fair market value of any such assets or Capital Stock shall be determined in Good Faith by the Issuer. 

“Qualified Securitization Financing” means any Securitization Facility of a Securitization Subsidiary that meets the
following conditions: (i) the board of directors of the Issuer shall have determined in good faith that such Qualified Securitization Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate
economically fair and reasonable to the Issuer and its Restricted Subsidiaries, (ii) all sales of Securitization Assets and related assets by the Issuer or any Restricted Subsidiary to the Securitization Subsidiary or any other Person are made
at fair market value (as determined in Good Faith by the Issuer), (iii) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined in good faith by the Issuer) and may include Standard
Securitization Undertakings and (iv) the Obligations under such Securitization Facility are non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Issuer or any
of its Restricted Subsidiaries (other than a Securitization Subsidiary). The grant of a security interest in any Securitization Assets of the Issuer or any of its Restricted Subsidiaries (other than a Securitization Subsidiary) to secure
Indebtedness under the New Credit Facilities shall not be deemed a Qualified Securitization Financing. 
 “QIB”
means any “qualified institutional buyer” as such term is defined in Rule 144A. 
 “Rating
Agencies” means Moody’s and S&P, or if Moody’s or S&P or both shall not make a rating on the Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the
Issuer which shall be substituted for Moody’s or S&P or both, as the case may be. 
 “Refinancing
Transactions” means the issuance of Notes, borrowings under the New Credit Facilities as in effect on the Issue Date and the use of the proceeds thereof. 

  
 27 

 “Registration Rights Agreement” means (i) the Registration Rights
Agreement related to the Notes dated as of the Issue Date, among the Issuer, the Subsidiary Guarantors and the Initial Purchasers, as amended or supplemented, and (ii) any other registration rights agreement entered into in connection with the
issuance of Additional Notes in a private offering by the Issuer after the Issue Date. 
 “Regulation S”
means Regulation S under the Securities Act. 
 “Regulation S-X” means Regulation S-X under the
Securities Act. 
 “Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful
in a Similar Business, provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of
securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Notes” means Initial Notes and Additional Notes bearing one of the restrictive legends described in
Section 2.1(d). 
 “Restricted Notes Legend” means the legend set forth in
Section 2.1(d)(1). 
 “Restricted Period” means, in relation to the Initial Notes, the 40
consecutive days beginning on and including the later of (A) the day on which the Initial Notes are offered to persons other than distributors (as defined in Regulation S under the Securities Act) and (B) the Issue Date and, in relation to
any Additional Notes that are Restricted Notes, it means the comparable period of 40 consecutive days. 
 “Restricted
Subsidiary” means, at any time, any direct or indirect Subsidiary of the Issuer (including any Foreign Subsidiary) that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted
Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted Subsidiary.” 
 “Rule 144A” means Rule 144A under the Securities Act. 

“S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and any successor to its
rating agency business. 
 “Sale and Lease-Back Transaction” means any arrangement providing for the leasing by
the Issuer or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Issuer or such Restricted Subsidiary to a third Person in contemplation of such leasing.

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

“Secured Indebtedness” means any Indebtedness of the Issuer or any of its Restricted Subsidiaries secured by a Lien.

  
 28 

 “Secured Leverage Ratio” means, as of any date of determination, the ratio
of (1) Consolidated Total Indebtedness of the Issuer and its Restricted Subsidiaries that is secured by Liens as of the end of the most recent fiscal period for which internal financial statements are available immediately preceding the date on
which such event for which such calculation is being made shall occur to (2) the Issuer’s EBITDA for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on
which such event for which such calculation is being made shall occur, in each case with such pro forma adjustments to Consolidated Total Indebtedness and EBITDA as are appropriate and consistent with the pro forma adjustment
provisions set forth in the definition of Leverage Ratio. 
 “Securitization Asset” means any accounts
receivable, real estate asset, mortgage receivables or related assets, in each case subject to a Securitization Facility. 

“Securitization Facility” means any of one or more securitization financing facilities as amended, supplemented,
modified, extended, renewed, restated or refunded from time to time, pursuant to which the Issuer or any of its Restricted Subsidiaries sells its Securitization Assets to either (a) a Person that is not a Restricted Subsidiary or (b) a
Securitization Subsidiary that in turn sells Securitization Assets to a Person that is not a Restricted Subsidiary. 

“Securitization Fees” means distributions or payments made directly or by means of discounts with respect to any
Securitization Asset or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Qualified Securitization Financing. 

“Securitization Repurchase Obligation” means any obligation of a seller of Securitization Assets in a Qualified
Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a representation, warranty or covenant or otherwise, including, without limitation, as a result of a receivable or portion thereof becoming subject to
any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller. 
 “Securitization Subsidiary” means any Subsidiary in each case formed for the purpose of and that solely engages in one or more Qualified Securitization Financings and other activities
reasonably related thereto. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the SEC promulgated thereunder. 
 “Senior Indebtedness” means: 

(1) all Indebtedness of the Issuer or any Subsidiary Guarantor outstanding under the New Credit Facilities or Notes and
related Guarantees (including interest accruing on or after the filing of any petition in bankruptcy or similar proceeding or for reorganization of the Issuer or any Subsidiary Guarantor (at the rate provided for in the documentation with respect
thereto, regardless of whether or not a claim for post-filing interest is allowed in such proceedings)), and any and all other fees, expense reimbursement obligations, indemnification amounts, penalties, and other amounts (whether existing on the
Issue Date or thereafter created or incurred) and all obligations of the Issuer or any Subsidiary Guarantor to reimburse any bank or other Person in respect of amounts paid under letters of credit, acceptances or other similar instruments;

  
 29 

 (2) all Hedging Obligations (and guarantees thereof) owing to a Lender (as
defined in the New Credit Facilities) or any Affiliate of such Lender (or any Person that was a Lender or an Affiliate of such Lender at the time the applicable agreement giving rise to such Hedging Obligation was entered into); provided that
such Hedging Obligations are permitted to be incurred under the terms of the Indenture; 
 (3) any other
Indebtedness of the Issuer or any Subsidiary Guarantor permitted to be incurred under the terms of the Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the
Notes or any related Guarantee; and 
 (4) all Obligations with respect to the items listed in the preceding
clause (1), (2) and (3); 
 provided, however, that Senior Indebtedness shall not include: 

(a) any obligation of such Person to the Issuer or any of its Subsidiaries; 

(b) any liability for federal, state, local or other taxes owed or owing by such Person; 

(c) any accounts payable or other liability to trade creditors arising in the ordinary course of business; 

(d) any Indebtedness or other Obligation of such Person which is subordinate or junior in any respect to any other Indebtedness or other
Obligation of such person; or 
 (e) that portion of any Indebtedness which at the time of incurrence is incurred in violation of
the Indenture. 
 “Senior Management” means the Chief Executive Officer and the Chief Financial Officer of the
Issuer. 
 “Shelf Registration Statement” shall have the meaning set forth in the Registration Rights
Agreement. 
 “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the Issue Date. 

“Similar Business” means any business conducted or proposed to be conducted by the Issuer and its Restricted
Subsidiaries on the Issue Date or any business that is similar, reasonably related, incidental or ancillary thereto. 

  
 30 

 “Standard Securitization Undertakings” means representations, warranties,
covenants and indemnities entered into by the Issuer or any Subsidiary of the Issuer which the Issuer has determined in good faith to be customary in a Securitization Financing, including, without limitation, those relating to the servicing of the
assets of a Securitization Subsidiary, it being understood that any Securitization Repurchase Obligation shall be deemed to be a Standard Securitization Undertaking. 
 “Subordinated Indebtedness” means, with respect to the Notes, 
 (1) any Indebtedness of the Issuer which is by its terms subordinated in right of payment to the Notes, and 
 (2) any Indebtedness of any Subsidiary Guarantor which is by its terms subordinated in right of payment to the Guarantee of such entity of the Notes. 

“Subsidiary” means, with respect to any Person: 

(1) any corporation, association, or other business entity (other than a partnership, joint venture, limited liability
company or similar entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time
of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof or is consolidated under GAAP with such Person at such time; and 

(2) any partnership, joint venture, limited liability company or similar entity of which 

(x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership
interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited partnership or
otherwise, and 
 (y) such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise
controls such entity. 
 “Subsidiary Guarantee” means the Guarantee of a Subsidiary Guarantor. 

“Subsidiary Guarantor” means each Restricted Subsidiary of the Issuer that provides a Guarantee of the Notes.

 “Total Assets” means, as of any date, the total consolidated assets of the Issuer and its Restricted
Subsidiaries on a consolidated basis, as shown on the most recent consolidated balance sheet of the Issuer and its Restricted Subsidiaries. 
 “Treasury Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury securities with a constant maturity (as compiled and
published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the Redemption Date (or, if such Statistical Release is no longer published, any publicly
available source of similar market data)) most nearly equal to the period from the Redemption Date to December 15, 2014; provided, however, that if the period from the Redemption Date to December 15, 2014 is less than one year, the
weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 

  
 31 

 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended (15
U.S.C. §§ 77aaa-777bbbb). 
 “Trustee” means the party named as such in this Indenture until a
successor replaces it in accordance with the terms of this Indenture and, thereafter, means the successor. 
 “Trust
Officer” shall mean, when used with respect to the Trustee, any vice president, assistant vice president, any trust officer or any other officer of the Trustee who customarily performs 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 such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the
administration of this Indenture. 
 “Unrestricted Subsidiary” means: 

(1) any Subsidiary of the Issuer which at the time of determination is an Unrestricted Subsidiary (as designated by the
Issuer, as provided below); and 
 (2) any Subsidiary of an Unrestricted Subsidiary. 

The Issuer may designate any Subsidiary of the Issuer (including any existing Subsidiary and any newly acquired or newly formed
Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Issuer or any Subsidiary of the Issuer (other than solely
any Subsidiary of the Subsidiary to be so designated); provided that 
 (1) any Unrestricted Subsidiary
must be an entity of which the Equity Interests entitled to cast at least a majority of the votes that may be cast by all Equity Interests having ordinary voting power for the election of directors or Persons performing a similar function are owned,
directly or indirectly, by the Issuer; 
 (2) such designation complies with Section 3.3; and

 (3) each of: 
 (a) the Subsidiary to be so designated; and 
 (b) its Subsidiaries

  
 32 

 has not at the time of designation, and does not thereafter, create, incur, issue, assume, guarantee or
otherwise become directly or indirectly liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of the Issuer or any Restricted Subsidiary. 

The Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that, immediately after giving effect to
such designation, no Default or Event of Default shall have occurred and be continuing and the Issuer or the relevant Restricted Subsidiary would be able to incur such Indebtedness pursuant to Section 3.2 on a pro forma basis
taking into account such designation. 
 Any such designation by the Issuer shall be notified by the Issuer to the Trustee by
promptly filing with the Trustee a copy of the resolution of the board of directors of the Issuer or any committee thereof giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the
foregoing provisions. 
 “Voting Stock” of any Person as of any date means the Capital Stock of such Person
that is at the time entitled to vote in the election of the board of directors of such Person. 
 “Weighted Average Life
to Maturity” means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: 

(1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment; by 

(2) the sum of all such payments. 
 “Wholly-Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Equity Interests of which (other than directors’ qualifying shares) shall at the
time be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person. 
 SECTION 1.2. Other
Definitions. 
  

			
	 Term
	  	Defined in
Section
	 “Additional Restricted Notes”
	  	2.1(b)
		
	 “Affiliate Transaction”
	  	3.8
		
	 “Agent Members”
	  	2.1(e)(iii)
		
	 “Asset Sale Offer”
	  	3.5(b)
		
	 “Authenticating Agent”
	  	2.2

  
 33 

			
	 Term
	  	Defined in
Section
		
	 “Change of Control Offer”
	  	3.10
		
	 “Change of Control Payment”
	  	3.10
		
	 “Change of Control Payment Date”
	  	3.10(a)(2)
		
	 “Clearstream”
	  	2.1(b)
		
	 “Covenant Defeasance”
	  	8.3
		
	 “Defaulted Interest”
	  	2.14
		
	 “Euroclear”
	  	2.1(b)
		
	 “Event of Default”
	  	6.1(a)
		
	 “Excess Proceeds”
	  	3.5(b)
		
	 “Exchange Global Note”
	  	2.1(b)
		
	 “Global Notes”
	  	2.1(b)
		
	 “Guaranteed Obligations”
	  	10.1
		
	 “incur”
	  	3.2 (a)
		
	 “incurrence”
	  	3.2 (a)
		
	 “Institutional Accredited Investor Global Note”
	  	2.1(b)
		
	 “Institutional Accredited Investor Notes”
	  	2.1(b)
		
	 “Issuer Order”
	  	2.2
		
	 “Legal Defeasance”
	  	8.2
		
	 “Legal Holiday”
	  	13.8
		
	 “Notes Register”
	  	2.3
		
	 “Paying Agent”
	  	2.3
		
	 “protected purchaser”
	  	2.10
		
	 “Redemption Date”
	  	5.7(a)
		
	 “Refinancing Indebtedness”
	  	3.2(b)(13)

  
 34 

			
	 Term
	  	Defined in
Section
		
	 “Refunding Capital Stock”
	  	3.3(b)(2)
		
	 “Registrar”
	  	2.3
		
	 “Regulation S Global Note”
	  	2.1(b)
		
	 “Regulation S Notes”
	  	2.1(b)
		
	 “Resale Restriction Termination Date”
	  	2.6(b)
		
	 “Restricted Payments”
	  	3.3(a)
		
	 “Rule 144A Global Note”
	  	2.1(b)
		
	 “Rule 144A Notes”
	  	2.1(b)
		
	 “Special Interest Payment Date”
	  	2.14(a)
		
	 “Special Record Date”
	  	2.14(a)
		
	 “Successor Company”
	  	4.1(a)(1)
		
	 “Successor Person”
	  	10.2(b)(i)
		
	 “Suspended Covenants”
	  	3.20
		
	 “Suspension Period”
	  	3.20
		
	 “Trustee”
	  	8.5

 SECTION
1.3. Incorporation by Reference of Trust Indenture Act. This Indenture is subject to the mandatory provisions of the TIA, which are incorporated by reference in and made a part of this Indenture. The following TIA terms have the
following meanings: 
 “Commission” means the SEC. 

“indenture securities” means the Notes. 
 “indenture security holder” means a Holder. 
 “indenture
to be qualified” means this Indenture. 
 “indenture trustee” or “institutional
trustee” means the Trustee. 
 “obligor” on the indenture securities means the Issuer and any other
obligor on the indenture securities. 

  
 35 

 All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA
by reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 
 SECTION
1.4. Rules of Construction. Unless the context otherwise requires: 
 (1) a term has the meaning
assigned to it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance
with GAAP; 
 (3) “or” is not exclusive; 

(4) “including” means including without limitation; 

(5) words in the singular include the plural and words in the plural include the singular; 

(6) the principal amount of any noninterest bearing or other discount security at any date shall be the principal amount
thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 

(7) the principal amount of any preferred stock shall be (i) the maximum liquidation value of such preferred stock
or (ii) the maximum mandatory redemption or mandatory repurchase price with respect to such preferred stock, whichever is greater; 
 (8) all amounts expressed in this Indenture or in any of the Notes in terms of money refer to the lawful currency of the United States of America; 

(9) the words “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; and 
 (10) unless
otherwise specifically indicated, the term “consolidated” with respect to any Person refers to such Person consolidated with its Restricted Subsidiaries, and excludes from such consolidation any Unrestricted Subsidiary as if such
Unrestricted Subsidiary were not an Affiliate of such Person. 
 ARTICLE II 

THE NOTES 

SECTION 2.1. Form, Dating and Terms. 
 (a) The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. The Initial Notes issued on the date hereof shall be in an aggregate principal amount
of $400,000,000. In addition, the Issuer may issue, from time to time in accordance with the provisions of this Indenture, Additional Notes (as provided herein) and Exchange Notes. Furthermore, Notes may be authenticated and delivered upon
registration of transfer, exchange or in lieu of, other Notes pursuant to Sections 2.2, 2.6, 2.10, 2.12, 5.6 or 9.5, in connection with an Asset Sale Offer pursuant to Section 3.5 or in
connection with a Change of Control Offer pursuant to Section 3.10. 

  
 36 

 Notwithstanding anything to the contrary contained herein, the Issuer may not issue any
Additional Notes, unless such issuance is in compliance with Sections 3.2 and 3.6. 
 The Initial Notes shall be
known and designated as “7.75% Senior Notes, Series A, due 2018” of the Issuer. Additional Notes issued as Restricted Notes shall be known and designated as “7.75% Senior Notes, Series A, due 2018” of the Issuer. Additional Notes
issued other than as Restricted Notes shall be known and designated as “7.75% Senior Notes, Series B, due 2018” of the Issuer, and Exchange Notes shall be known and designated as “7.75% Senior Notes, Series B, due 2018” of the
Issuer. 
 With respect to any Additional Notes, the Issuer shall set forth in (a) a Board Resolution and
(b) (i) an Officer’s Certificate or (ii) one or more indentures supplemental hereto, the following information: 
 (1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; 

(2) the issue price and the issue date of such Additional Notes, including the date from which interest shall accrue; and

 (3) whether such Additional Notes shall be Restricted Notes issued in the form of Exhibit A
hereto and/or shall be issued in the form of Exhibit B hereto. 
 In authenticating and delivering Additional Notes,
the Agent shall be entitled to receive and shall be fully protected in conclusively relying upon, in addition to the Opinion of Counsel and Officer’s Certificate required by Section 13.4, an Opinion of Counsel as to the due
authorization, execution, delivery, validity and enforceability of such Additional Notes. 
 The Initial Notes, the Additional
Notes and the Exchange Notes shall be considered collectively as a single class for all purposes of this Indenture. Holders of the Initial Notes, the Additional Notes and the Exchange Notes shall vote and consent together on all matters to which
such Holders are entitled to vote or consent as one class, and none of the Holders of the Initial Notes, the Additional Notes or the Exchange Notes shall have the right to vote or consent as a separate class on any matter to which such Holders are
entitled to vote or consent. 
 If any of the terms of any Additional Notes are established by action taken pursuant to Board
Resolutions of the Issuer, a copy of an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee, with a copy to the Agent, at or prior to the delivery of the
Officer’s Certificate or the indenture supplemental hereto setting forth the terms of the Additional Notes. 

  
 37 

 (b) The Initial Notes are being offered and sold by the Issuer pursuant to a Purchase
Agreement, dated December 6, 2010, among Issuer, the Subsidiary Guarantors, J.P. Morgan Securities LLC and the other initial purchasers named therein. The Initial Notes and any Additional Notes (if issued as Restricted Notes) (the
“Additional Restricted Notes”) shall be resold initially only to (A) QIBs in reliance on Rule 144A and (B) Non-U.S. Persons in reliance on Regulation S. Such Initial Notes and Additional Restricted Notes may
thereafter be transferred to, among others, QIBs, purchasers in reliance on Regulation S and IAIs in accordance with Rule 501 of the Securities Act, in each case, in accordance with the procedure described herein. Additional Notes offered
after the date hereof may be offered and sold by the Issuer from time to time pursuant to one or more purchase agreements in accordance with applicable law. 
 Initial Notes and Additional Restricted Notes offered and sold to QIBs in the United States of America in reliance on Rule 144A (the “Rule 144A Notes”) shall be issued in the
form of a permanent global Note substantially in the form of Exhibit A, which is hereby incorporated by reference and made a part of this Indenture, including appropriate legends as set forth in Section 2.1(d) (the
“Rule 144A Global Note”), deposited with the Notes Custodian, as custodian for DTC, duly executed by the Issuer and authenticated by the Agent as hereinafter provided. The Rule 144A Global Note may be represented by more
than one certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Rule 144A Global Note may from time to time be increased or
decreased by adjustments made on the records of the Notes Custodian, as custodian for DTC or its nominee, as hereinafter provided. 
 Initial Notes and any Additional Restricted Notes offered and sold outside the United States of America (the “Regulation S Notes”) in reliance on Regulation S shall initially be
issued in the form of a permanent global Note substantially in the form of Exhibit A including appropriate legends as set forth in Section 2.1(d) (the “Regulation S Global Note”). The Regulation S Note will be
deposited upon issuance with, or on behalf of, the Notes Custodian, as custodian for the DTC in the manner described in this Article II for credit to the respective accounts of the purchasers (or to such other accounts as they may direct),
including, but not limited to, accounts at Euroclear Bank S.A./N.V. (“Euroclear”) or Clearstream Banking, société anonyme (“Clearstream”). During the Restricted Period, interests in the Regulation S
Global Note may only be transferred to non-U.S. persons pursuant to Regulation S, to QIBs under Rule 144A or IAI in accordance with the transfer and certification requirements described herein. 

Investors may hold their interests in the Regulation S Global Note through organizations other than Euroclear or Clearstream that are
participants in DTC’s system or directly through Euroclear or Clearstream, if they are participants in such systems, or indirectly through organizations which are participants in such systems. If such interests are held through Euroclear or
Clearstream, Euroclear and Clearstream shall hold such interests in the applicable Regulation S Global Note on behalf of their participants through customers’ securities accounts in their respective names on the books of their respective
depositaries. Such depositaries, in turn, shall hold such interests in the applicable Regulation S Global Note in customers’ securities accounts in the depositaries’ names on the books of DTC. 

The Regulation S Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the
maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Regulation S Global Note may from time to time be increased or decreased by adjustments made on the records of the Notes Custodian, as
custodian for DTC or its nominee, as hereinafter provided. 

  
 38 

 Initial Notes and Additional Restricted Notes resold to IAIs (the “Institutional
Accredited Investor Notes”) in the United States of America shall be issued in the form of a permanent global Note substantially in the form of Exhibit A including appropriate legends as set forth in Section 2.1(d)
(the “Institutional Accredited Investor Global Note”) deposited with the Notes Custodian, as custodian for DTC, duly executed by the Issuer and authenticated by the Agent as hereinafter provided. The Institutional Accredited
Investor Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal amount to be represented by a single certificate. The aggregate principal amount of the Institutional Accredited
Investor Global Note may from time to time be increased or decreased by adjustments made on the records of the Notes Custodian, as custodian for DTC or its nominee, as hereinafter provided. 

Exchange Notes exchanged for interests in the Rule 144A Notes, the Regulation S Notes and the Institutional Accredited Investor
Notes shall be issued in the form of a permanent global Note, substantially in the form of Exhibit B, which is hereby incorporated by reference and made a part of this Indenture, deposited with the Notes Custodian, as custodian for DTC,
as hereinafter provided, including the appropriate legend set forth in Section 2.1(d) (the “Exchange Global Note”). The Exchange Global Note shall be deposited upon issuance with, or on behalf of, the Notes Custodian, as
custodian for DTC, duly executed by the Issuer and authenticated by the Agent as hereinafter provided. The Exchange Global Note may be represented by more than one certificate, if so required by DTC’s rules regarding the maximum principal
amount to be represented by a single certificate. 
 The Rule 144A Global Note, the Regulation S Global Note, the
Institutional Accredited Investor Global Note and the Exchange Global Note are sometimes collectively herein referred to as the “Global Notes.” 
 The principal of (and premium, if any) and interest on the Notes shall be payable at the office or agency of Paying Agent or Registrar designated by the Issuer maintained for such purpose in the United
States or at such other office or agency of the Issuer as may be maintained for such purpose pursuant to Section 2.3 of this Indenture; provided, however, that, at the option of the Issuer, each installment of interest may be paid
by (i) check mailed to addresses of the Persons entitled thereto as such addresses shall appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of
this paragraph. Payments in respect of Notes represented by a Global Note (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof.
Payments in respect of Notes represented by Definitive Notes (including principal, premium, if any, and interest) held by a Holder of at least $1,000,000 aggregate principal amount of Notes represented by Definitive Notes shall be made by wire
transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Paying Agent to such effect designating such account no later than 15 days
immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 

  
 39 

 The Notes may have notations, legends or endorsements required by law, stock exchange rule
or usage, in addition to those set forth on Exhibit A and Exhibit B and in Section 2.1(d). The Issuer shall approve any notation, endorsement or legend on the Notes. Each Note shall be dated the date of its
authentication. The terms of the Notes set forth in Exhibit A and Exhibit B are part of the terms of this Indenture and, to the extent applicable, the Issuer, the Subsidiary Guarantors, the Agent and the Trustee, by their
execution and delivery of this Indenture, expressly agree to be bound by such terms. 
 (c) Denominations. The Notes
shall be issuable only in fully registered form, without coupons, and only in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 (d) Restrictive Legends. Unless and until (i) an Initial Note or an Additional Note issued as a Restricted Note is sold under an effective registration statement or (ii) an Initial Note
or an Additional Note issued as a Restricted Note is exchanged for an Exchange Note in connection with an effective registration statement, in each case pursuant to the Registration Rights Agreement or a similar agreement or (iii) the Trustee
receives an Opinion of Counsel reasonably satisfactory to the Issuer and the Trustee to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain compliance with the provisions of the Securities
Act: 
 (1) the Rule 144A Global Note, the Regulation S Global Note and the Institutional Accredited
Investor Global Note shall bear the following legend on the face thereof: 
 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 [IN THE CASE OF THE RULE 144A GLOBAL NOTE AND THE
INSTITUTIONAL ACCREDITED INVESTOR GLOBAL NOTE: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES 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),] [IN THE CASE OF THE REGULATION S GLOBAL NOTE: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH
SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (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 (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” AS DEFINED IN RULE 144A 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 TO
NON-U.S. PERSONS 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 RULE 501(a)(1), (2), (3) OR (7) UNDER THE
SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, 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 REGISTRAR’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. [IN THE CASE OF THE REGULATION S GLOBAL NOTE: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT
IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.] 

  
 40 

 BY ITS ACQUISITION OF THIS SECURITY THE HOLDER AND ANY SUBSEQUENT TRANSFEREE HEREOF WILL BE
DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (I) NO PORTION OF THE ASSETS USED BY SUCH HOLDER OR ANY TRANSFEREE TO ACQUIRE AND HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S.
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO
INCLUDE “PLAN ASSETS” OF SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (II) THE ACQUISITION AND HOLDING OF THIS SECURITY BY SUCH HOLDER OR TRANSFEREE WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION
4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICATION SIMILAR LAWS. 

  
 41 

 (2) Each Global Security, whether or not an Initial Security, shall bear
the following legend on the face thereof: 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS 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. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS
OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 (3) Each Note issued hereunder that has more than a de minimis amount of original issue discount for U.S. federal income tax purposes shall bear a legend in substantially the following form: 

THIS SECURITY HAS BEEN ISSUED WITH “ORIGINAL ISSUE DISCOUNT” (WITHIN THE MEANING OF SECTION 1272 OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED). UPON WRITTEN REQUEST, THE ISSUER WILL PROMPTLY MAKE AVAILABLE TO ANY HOLDER OF THIS SECURITY THE FOLLOWING INFORMATION: (1) THE ISSUE PRICE AND DATE OF THE SECURITY, (2) THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THE
SECURITY AND (3) THE YIELD TO MATURITY OF THE SECURITY. HOLDERS SHOULD CONTACT [NAME OF INDIVIDUAL OR THE INDIVIDUAL’S TITLE] AT [ADDRESS]. 
 (e) Book-Entry Provisions. (i) This Section 2.1(e) shall apply only to Global Notes deposited with the Notes Custodian, as custodian for DTC. 

  
 42 

 (ii) Each Global Note initially shall (x) be registered in the name of
DTC or the nominee of DTC, (y) be delivered to the Notes Custodian, as custodian for DTC, and (z) bear legends as set forth in Section 2.1(d). Transfers of a Global Note (but not a beneficial interest therein) shall be limited
to transfers thereof in whole, but not in part, to the DTC, its successors or its respective nominees, except as set forth in Section 2.1(e)(v) and 2.1(f). If a beneficial interest in a Global Note is transferred or exchanged for
a beneficial interest in another Global Note, the Agent shall (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the principal amount of such transfer or exchange and (y) record a like
increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an interest in another Global Note, or exchanged for an interest in another
Global Note, shall, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, shall thereafter be subject to all transfer and exchange restrictions, if any, and other
procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 
 (iii) Members of, or participants in, DTC (“Agent Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by DTC or by the Notes
Custodian, as the custodian of DTC, or under such Global Note, and DTC may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the
foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by DTC or impair, as between DTC and its Agent Members,
the operation of customary practices of DTC governing the exercise of the rights of a Holder of a beneficial interest in any Global Note. 
 (iv) In connection with any transfer of a portion of the beneficial interest in a Global Note pursuant to Section 2.1(f) to beneficial owners who are required to hold Definitive Notes, the
Notes Custodian shall reflect on its books and records the date and a decrease in the principal amount of such Global Note in an amount equal to the principal amount of the beneficial interest in the Global Note to be transferred, and the Issuer
shall execute, and the Agent shall authenticate and make available for delivery, one or more Definitive Notes of like tenor and amount. 
 (v) In connection with the transfer of an entire Global Note to beneficial owners pursuant to Section 2.1(f), such Global Note shall be deemed to be surrendered to the Agent for cancellation,
and the Issuer shall execute, and the Agent shall authenticate and make available for delivery, to each beneficial owner identified by DTC in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Definitive
Notes of authorized denominations. 
 (vi) The registered Holder of a Global Note may grant proxies and
otherwise authorize any person, including Agent Members and persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Notes. 

  
 43 

 (vii) Any Holder of a Global Note shall, by acceptance of such Global Note,
agree that transfers of beneficial interests in such Global Note may be effected only through a book-entry system maintained by (a) the Holder of such Global Note (or its agent) or (b) any Holder of a beneficial interest in such Global
Note, and that ownership of a beneficial interest in such Global Note shall be required to be reflected in a book entry. 
 (f)
Definitive Notes. (i) Except as provided below, owners of beneficial interests in Global Notes shall not be entitled to receive Definitive Notes. If required to do so pursuant to any applicable law or regulation, beneficial owners may
obtain Definitive Notes in exchange for their beneficial interests in a Global Note upon written request in accordance with DTC’s and the Registrar’s procedures. In addition, Definitive Notes shall be transferred to all beneficial owners
in exchange for their beneficial interests in a Global Note if (A) DTC notifies the Issuer that it is unwilling or unable to continue as depositary for such Global Note or DTC ceases to be a clearing agency registered under the Exchange Act, at
a time when DTC is required to be so registered in order to act as depositary, and in each case a successor depositary is not appointed by the Issuer within 90 days of such notice or, (B) the Issuer in its sole discretion executes and
delivers to the Trustee and Registrar an Officer’s Certificate stating that such Global Note shall be so exchangeable or (C) an Event of Default has occurred and is continuing and the Registrar has received a request from DTC. In the event
of the occurrence of any of the events specified in the second preceding sentence or in clause (A), (B) or (C) of the preceding sentence, the Issuer shall promptly make available to the Registrar a reasonable supply of Definitive
Notes. 
 (ii) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.1(e)(iv) or (v) shall, except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Definitive Note set forth in
Section 2.1(d). 
 (iii) If a Definitive Note is transferred or exchanged for a beneficial interest
in a Global Note, the Agent shall (x) cancel such Definitive Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the event that such transfer
or exchange involves less than the entire principal amount of the canceled Definitive Note, the Issuer shall execute, and the Agent shall authenticate and make available for delivery, to the transferring Holder a new Definitive Note representing the
principal amount not so transferred. 
 (iv) If a Definitive Note is transferred or exchanged for another
Definitive Note, (x) the Agent shall cancel the Definitive Note being transferred or exchanged, (y) the Issuer shall execute, and the Agent shall authenticate and make available for delivery, one or more new Definitive Notes in authorized
denominations having an aggregate principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Definitive Note (in the case of an exchange), registered in the
name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Definitive Note, the Issuer shall execute, and the Agent shall authenticate and make available
for delivery to the Holder thereof, one or more Definitive Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Definitive Notes, registered in the name of the
Holder thereof. 

  
 44 

 SECTION 2.2. Execution and Authentication. One Officer shall sign the Notes for
the Issuer by manual or facsimile signature. If the Officer whose signature is on a Note no longer holds that office at the time the Agent authenticates the Note, the Note shall be valid nevertheless. 

A Note shall not be valid until an authorized officer of the Agent manually authenticates the Note. The signature of the Agent on a Note
shall be conclusive evidence that such Note has been duly and validly authenticated and issued under this Indenture. A Note shall be dated the date of its authentication. 
 At any time and from time to time after the execution and delivery of this Indenture, the Agent shall authenticate and make available for delivery: (1) Initial Notes for original issue on the Issue
Date in an aggregate principal amount of $400,000,000, (2) subject to the terms of this Indenture, Additional Notes for original issue in an unlimited principal amount, and (3) Exchange Notes for issue only in an exchange offer pursuant to
the Registration Rights Agreement or upon resale under an effective Shelf Registration Statement, and only in exchange for Initial Notes or Additional Notes of an equal principal amount and (4) under the circumstances set forth in
Section 2.6(e), Initial Notes in the form of an Unrestricted Global Note, in each case upon a written order of the Issuer signed by one Officer (the “Issuer Order”). Such Issuer Order shall specify whether the Notes shall be in
the form of Definitive Notes or Global Notes, the amount of the Notes to be authenticated and the date on which the original issue of Notes is to be authenticated and whether the Notes are to be Initial Notes, Additional Notes or Exchange Notes.

 The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to the Issuer to
authenticate the Notes. Any such instrument shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, any such Authenticating Agent may
authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. An Authenticating Agent has the same rights as any Registrar, Paying Agent or
agent for service of notices and demands. 
 In case the Issuer or any Subsidiary Guarantor, pursuant to Article IV
or Section 10.2, as applicable, shall be consolidated or merged with or into any other Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the
successor Person resulting from such consolidation, or surviving such merger, or into which the Issuer or any Subsidiary Guarantor shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as
aforesaid, shall have executed an indenture supplemental hereto with the Trustee pursuant to Article IV or Section 10.2, as applicable, any of the Notes authenticated or delivered prior to such consolidation, merger,
conveyance, transfer, lease or other disposition may (but shall not be required), from time to time, at the request of the successor Person, be exchanged for other Notes executed in the name of the successor Person with such changes in phraseology
and form as may be appropriate, but otherwise in substance of like tenor as the Notes surrendered for such exchange and of like principal amount; and the Agent, upon the Issuer Order of the successor Person, shall authenticate and make available for
delivery Notes as specified in such order for the purpose of such exchange. If Notes shall at any time be authenticated and delivered in any new name of a successor Person pursuant to this Section 2.2 in exchange or substitution for or
upon registration of transfer of any Notes, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Notes at the time outstanding for Notes authenticated and delivered in such new name.

  
 45 

 SECTION 2.3. Registrar and Paying Agent. 

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

 The Issuer shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture,
which shall incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee of the name and address of each such agent. If the Issuer fails to maintain a
Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.7. The Issuer or any Subsidiary Guarantor may act as Paying Agent, Registrar or transfer agent.

 The Issuer initially appoints the Agent as Registrar and Paying Agent for the Notes. The Issuer may change any Registrar or
Paying Agent without prior notice to the Holders, but upon written notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of any appointment by a
successor as evidenced by an appropriate agreement entered into by the Issuer and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as
Registrar or Paying Agent until the appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Issuer and the Trustee. 

SECTION 2.4. Paying Agent to Hold Money in Trust. 
 By no later than 11:00 a.m. (New York City time) on the date on which any principal of, premium, if any, or interest on any Note is due and payable, the Issuer shall deposit with the Paying Agent a
sum sufficient in immediately available funds to pay such principal, premium or interest when due. The Issuer shall require each Paying Agent (other than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of
Holders or the Trustee all money held by such Paying Agent for the payment of principal of, premium, if any, or interest on the Notes (whether such assets have been distributed to it by the Issuer or other obligors on the Notes), shall notify the
Trustee in writing of any default by the Issuer or any Subsidiary Guarantor in making any such payment and shall during the continuance of any default by the Issuer (or any other obligor upon the Notes) in the making of any payment in respect of the
Notes, upon the written request of the Trustee, forthwith deliver to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Notes together with a full accounting thereof. If the Issuer or a Subsidiary of the Issuer
acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Issuer at any time may require a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account
for any funds or assets disbursed by such Paying Agent. Upon complying with this Section 2.4, the Paying Agent (if other than the Issuer or a Subsidiary of the Issuer) shall have no further liability for the money delivered to the
Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Issuer, the Trustee shall serve as Paying Agent for the Notes. 

  
 46 

 SECTION 2.5. Holder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
addresses of Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, or to the extent otherwise required under the TIA, the Issuer, on its own behalf and on behalf of each of the Subsidiary Guarantors, shall
furnish or cause the Registrar to furnish to the Trustee, in writing at least five Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee
may reasonably require of the names and addresses of Holders and the Issuer shall otherwise comply with TIA § 312(a). 

SECTION 2.6. Transfer and Exchange. 
 (a) General. A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a beneficial interest therein) for another Note or Notes of any authorized
denomination by presenting to the Registrar a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other document required by this Section 2.6.
The Registrar shall promptly register any transfer or exchange that meets the requirements of this Section 2.6 by noting the same in the register maintained by the Registrar for the purpose, and no transfer or exchange shall be effective
until it is registered in such register. The transfer or exchange of any Note (or a beneficial interest therein) may only be made in accordance with this Section 2.6 and Section 2.1(e) and 2.1(f), as applicable, and,
in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of DTC, Euroclear and Clearstream. The Registrar shall refuse to register any requested transfer or exchange that does not comply with this
paragraph. Any action with respect to transfers and exchanges of the Notes pursuant to this Section 2.6 may be taken by the Registrar whenever the Trustee may do so, and each reference in this Section 2.6 to the Trustee shall
include the Registrar. 
 (b) Transfers of Rule 144A Notes and Institutional Accredited Investor Notes. The following
provisions shall apply with respect to any proposed registration of transfer of a Rule 144A Note or an Institutional Accredited Investor Note prior to the date which is one year after the later of the date of its original issue and the last
date on which the Issuer or any Affiliate of the Issuer was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”): 

(i) a registration of transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a beneficial
interest therein to a QIB shall be made upon the representation of the transferee in the form as set forth on the reverse of the Note that it is purchasing for its own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such
information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim
the exemption from registration provided by Rule 144A; provided that no such written representation or other written certification shall be required in connection with the transfer of a beneficial interest in the Rule 144A Global Note to
a transferee in the form of a beneficial interest in that Rule 144A Global Note in accordance with this Indenture and the applicable procedures of DTC. 

  
 47 

 (ii) a registration of transfer of a Rule 144A Note or an
Institutional Accredited Investor Note or a beneficial interest therein to an IAI shall be made upon receipt by the Registrar of a certificate substantially in the form set forth in Section 2.8 from the proposed transferee and, if
requested by the Issuer, the delivery of an Opinion of Counsel, certification and/or other information satisfactory to it; and 
 (iii) a registration of transfer of a Rule 144A Note or an Institutional Accredited Investor Note or a beneficial interest therein to a Non-U.S. Person shall be made upon receipt by the Registrar of
a certificate substantially in the form set forth in Section 2.9 from the proposed transferee and, if requested by the Issuer, the delivery of an Opinion of Counsel, certification and/or other information satisfactory to it. 

(c) Transfers of Regulations S Notes. The following provisions shall apply with respect to any proposed transfer of a Regulation S
Note prior to the expiration of the Restricted Period: 
 (i) a transfer of a Regulation S Note or a beneficial
interest therein to a QIB shall be made upon the representation of the transferee, in the form of assignment on the reverse of the certificate, that it is purchasing the Note for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A, is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such
information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the
exemption from registration provided by Rule 144A; 
 (ii) a transfer of a Regulation S Note or a beneficial
interest therein to an IAI shall be made upon receipt by the Registrar of a certificate substantially in the form set forth in Section 2.8 from the proposed transferee and, if requested by the Issuer or the Trustee, the delivery of an
opinion of counsel, certification and/or other information satisfactory to each of them; and 

  
 48 

 (iii) a transfer of a Regulation S Note or a beneficial interest therein to
a Non-U.S. Person shall be made upon receipt by the Registrar of a certificate substantially in the form set forth in Section 2.9 hereof from the proposed transferee and, if requested by the Issuer, receipt by the Registrar of an opinion
of counsel, certification and/or other information satisfactory to the Issuer. 
 After the expiration of the Restricted Period,
interests in the Regulation S Note may be transferred in accordance with applicable law without requiring the certification set forth in Section 2.8, Section 2.9 or any additional certification. 

(d) Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes not bearing a Restricted Notes Legend, the
Registrar shall deliver Notes that do not bear a Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes bearing a Restricted Notes Legend, the Registrar shall deliver only Notes that bear a Restricted Notes Legend unless
(i) Initial Notes are being exchanged for Exchange Notes in an exchange offer pursuant to the Registration Rights Agreement, in which case the Exchange Notes shall not bear a Restricted Notes Legend, (ii) an Initial Note is being
transferred pursuant to the Shelf Registration Statement or other effective registration statement, (iii) Initial Notes are being exchanged for Notes that do not bear the Restricted Notes Legend in accordance with Section 2.6(e) or
(iv) there is delivered to the Registrar an Opinion of Counsel reasonably satisfactory to the Issuer and the Trustee to the effect that neither such legend nor the related restrictions on transfer are required in order to maintain compliance
with the provisions of the Securities Act. Any Additional Notes sold in a registered offering shall not be required to bear the Restricted Notes Legend. 
 (e) Automatic Exchange from Global Note Bearing Restricted Notes Legend to Global Note Not Bearing Restricted Notes Legend. Upon the Issuer’s satisfaction that the Restricted Notes Legend
shall no longer be required in order to maintain compliance with the Securities Act, beneficial interests in a Global Note bearing the Restricted Notes Legend (a “Restricted Global Note”) may be automatically exchanged into
beneficial interests in a Global Note not bearing the Restricted Notes Legend (an “Unrestricted Global Note”) without any action required by or on behalf of the Holder (the “Automatic Exchange”) at any time on or
after the date that is the 366th calendar day after (A) with respect to the Notes issued on the Issue Date or (B) with respect to Additional Notes, if any, the issue date of such Additional Notes, or, in each case, if such day is not a
Business Day, on the next succeeding Business Day (the “Automatic Exchange Date”). Upon the Issuer’s satisfaction that the Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities
Act, the Issuer may pursuant to the rules and procedures (i) provide written notice to DTC at least fifteen (15) calendar days prior to the Automatic Exchange Date, instructing DTC to exchange all of the outstanding beneficial interests in
a particular Restricted Global Note to the Unrestricted Global Note, which the Issuer shall have previously otherwise made eligible for exchange with the DTC, (ii) provide prior written notice (the “Automatic Exchange Notice”)
to each Holder at such Holder’s address appearing in the register of Holders at least fifteen (15) calendar days prior to the Automatic Exchange Date (the “Automatic Exchange Notice Date”), which notice must include
(w) the Automatic Exchange Date, (x) the section of the Indenture pursuant to which the Automatic Exchange shall occur, (y) the “CUSIP” number of the Restricted Global Note from which such Holder’s beneficial interests
shall be transferred and the (z) “CUSIP” number of the Unrestricted Global Note into which such Holder’s beneficial interests shall be transferred, and (iii) on or prior to the Automatic Exchange Date, deliver to the Agent
for authentication one or more Unrestricted Global Notes, duly executed by the Issuer, in an aggregate principal amount equal to the aggregate principal amount of Restricted Global Notes to be exchanged. At the Issuer’s request on no less than
five (5) calendar days’ notice prior to the Automatic Exchange Notice Date, the Trustee with a copy to the Agent shall deliver, in the Issuer’s name and at its expense, the Automatic Exchange Notice to each Holder at such
Holder’s address appearing in the register of Holders. Notwithstanding anything to the contrary in this Section 2.6(e), during the fifteen (15) day period prior to the Automatic Exchange Date, no transfers or exchanges other
than pursuant to this Section 2.6(e) shall be permitted without the prior written consent of the Issuer. As a condition to any Automatic Exchange, the Issuer shall provide, and the Trustee and the Agent shall be entitled to rely upon, an
Officer’s Certificate in form reasonably acceptable to the Trustee and the Agent to the effect that the Automatic Exchange shall be effected in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Restricted Notes Legend shall no longer be required in order to maintain compliance with the Securities Act and that the aggregate principal amount of the particular Restricted Global Note is to be transferred to the particular Unrestricted Global
Note by adjustment made on the records of the Notes Custodian to reflect the Automatic Exchange. Upon such exchange of beneficial interests pursuant to this Section 2.6(e), the aggregate principal amount of the Global Notes shall be
increased or decreased by adjustments made on the records of the Notes Custodian, to reflect the relevant increase or decrease in the principal amount of such Global Note resulting from the applicable exchange. The Restricted Global Note from which
beneficial interests are transferred pursuant to an Automatic Exchange shall be canceled following the Automatic Exchange. 

  
 49 

 (f) Retention of Written Communications. The Registrar shall retain copies of all
letters, notices and other written communications received pursuant to Section 2.1 or this Section 2.6. The Issuer shall have the right to inspect and make copies of all such letters, notices or other written communications
at any reasonable time upon the giving of reasonable prior written notice to the Registrar. 
 (g) Obligations with Respect
to Transfers and Exchanges of Notes. 
 (i) To permit registrations of transfers and exchanges, the Issuer
shall, subject to the other terms and conditions of this Article II, execute and the Agent shall authenticate Definitive Notes and Global Notes at the Registrar’s request. 

(ii) No service charge shall be made to a Holder for any registration of transfer or exchange, but the Issuer may require
the Holder to pay a sum sufficient to cover any transfer tax assessments or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charges payable upon exchange or
transfer pursuant to Sections 2.2, 2.6, 2.10, 2.12, 3.5, 3.10, 5.6 or 9.5). 
 (iii) The Issuer (and the Registrar) shall not be required to register the transfer of or exchange of any Note (A) for a period beginning (1) 15 days before the mailing of a notice of an
offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing or (2) 15 days before an interest payment date and ending on such interest payment date or (B) called for redemption or tendered (and
not withdrawn) for repurchase in connection with a Change of Control Offer, an Asset Sale Offer or other tender offer, except the unredeemed or untendered portion of any Note being redeemed or tendered in part. 

  
 50 

 (iv) Prior to the due presentation for registration of transfer of any Note,
the Issuer, the Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Note is registered as the owner of such Note for the purpose of receiving payment of principal of, premium, if any, and (subject to the ninth
paragraph of Section 2.1(b) and paragraph 2 of the forms of Notes attached hereto as Exhibits A and B) interest on such Note and for all other purposes whatsoever, including without limitation the transfer or exchange of
such Note, whether or not such Note is overdue, and none of the Issuer, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

(v) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to Section 2.1(f)
shall, except as otherwise provided by Section 2.6(d), bear the applicable legend regarding transfer restrictions applicable to the Definitive Note set forth in Section 2.1(d). 

(vi) All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt
and shall be entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 
 (h)
No Obligation of the Agent. (i) The Agent shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a participant in, DTC or other Person with respect to the accuracy of the records of DTC or
its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than DTC) of any notice (including any
notice of redemption or purchase) or the payment of any amount or delivery of any Notes (or other security or property) under or with respect to such Notes. All notices and communications to be given to the Holders and all payments to be made to
Holders in respect of the Notes shall be given or made only to or upon the order of the registered Holders (which shall be DTC or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only
through DTC subject to the applicable rules and procedures of DTC. The Agent may conclusively rely and shall be fully protected in conclusively relying upon information furnished by DTC with respect to its members, participants and any beneficial
owners. 
 (ii) The Agent shall have no obligation or duty to monitor, determine or inquire as to compliance with
any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among DTC participants, members or beneficial owners in any Global Note)
other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof. Neither the Trustee nor the Agent shall have any responsibility for any actions taken or not taken by DTC. 

  
 51 

 SECTION 2.7. [Reserved]. 

SECTION 2.8. Form of Certificate to be Delivered in Connection with Transfers to Institutional Accredited Investors.

 [Date] 
 Citadel Broadcasting Corporation 
 c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 
 Jacksonville, FL
32256 
 Attention: Transfer 
 Ladies
and Gentlemen: 
 This certificate is delivered to request a transfer of
$[                    ] principal amount of the 7.75% Senior Notes due 2018 (the “Notes”) of Citadel Broadcasting Corporation
(the “Issuer”). 
 Upon transfer, the Notes would be registered in the name of the new beneficial owner as
follows: 
 Name:
                                         
                        
 Address:
                                         
                    

Taxpayer ID Number:
                                        

 The undersigned represents and warrants to you that: 

1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities
Act of 1933, as amended (the “Securities Act”)) purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Notes, and we are acquiring the
Notes not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risk of our
investment in the Notes and we invest in or purchase securities similar to the Notes in the normal course of our business. We and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

  
 52 

 2. We understand that the Notes have not been registered under the Securities Act and,
unless so registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date
that is one year after the later of the date of original issue and the last date on which the Issuer or any affiliate of the Issuer was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”)
only (a) to the Issuer or any Subsidiary thereof, (b) pursuant to an effective registration statement under the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under the Securities Act, to a
person we reasonably believe is a “qualified institutional buyer” under Rule 144A of the Securities Act (a “QIB”) that is purchasing for its own account or for the account of a QIB and to whom notice is given that the
transfer is being made in reliance on Rule 144A, (d) pursuant to offers and sales to non-U.S. persons 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 Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing for its own account or for the account of such an institutional “accredited investor,” in each
case in a minimum principal amount of Notes of $250,000 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 any other available exemption
from the registration requirements of the Securities Act, subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such investor account or accounts be at all times within our or their
control and in compliance with any applicable state securities laws. The foregoing restrictions on resale shall not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes is proposed to be made
pursuant to clause (e) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Issuer and the Registrar, which shall provide, among other
things, that the transferee is an institutional “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act) and that it is acquiring such Notes for investment purposes and not for
distribution in violation of the Securities Act. Each purchaser acknowledges that the Issuer and the Registrar reserve the right prior to any offer, sale or other transfer prior to the Resale Termination Date of the Notes pursuant to
clauses (d), (e) or (f) above to require the delivery of an opinion of counsel, certifications and/or other information satisfactory to the Issuer and the Trustee. 

3. We [are][are not] an Affiliate of the Issuer. 

 

			
	TRANSFEREE:	 	  

			
		
	BY:	 	  

 SECTION 2.9. Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S. 

[Date] 

Citadel Broadcasting Corporation 
 c/o DB
Services Americas, Inc. 
 5022 Gate Parkway, Suite 200 
 Jacksonville, FL 32256 
 Attention: Transfer 

Re: Citadel Broadcasting Corporation (the “Issuer”) 

7.75% Senior Notes due 2018 (the “Notes”) 

  
 53 

 Ladies and Gentlemen: 
 In connection with our proposed sale of $[                    ] aggregate principal amount of the
Notes, we confirm that such sale has been effected pursuant to and in accordance with Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent that:

 (a) the offer of the Notes was not made to a person in the United States; 

(b) either (i) at the time the buy order was originated, the transferee was outside the United States or we and any
person acting on our behalf reasonably believed that the transferee was outside the United States or (ii) the transaction was executed in, on or through the facilities of a designated off-shore securities market and neither we nor any person
acting on our behalf knows that the transaction has been pre-arranged with a buyer in the United States; 
 (c)
no directed selling efforts have been made in the United States in contravention of the requirements of Rule 903(a)(2) or Rule 904(a)(2) of Regulation S, as applicable; and 

(d) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 In addition, if the sale is made during a restricted period and the provisions of Rule 903(b)(2), Rule 903(b)(3) or
Rule 904(b)(1) of Regulation S are applicable thereto, we confirm that such sale has been made in accordance with the applicable provisions of Rule 903(b)(2), Rule 903(b)(3) or Rule 904(b)(1), as the case may be. 

We also hereby certify that we [are][are not] an Affiliate of the Issuer and, to our knowledge, the transferee of the Notes [is][is not]
an Affiliate of the Issuer. 
 You and the Issuer are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation S.

 Very truly yours, 
 [Name of Transferor] 
  

							
		  	 By:
	  	  
	  	
			
		  	  
	  	
		  	Authorized Signature	  	

  
 54 

 SECTION 2.10. Mutilated, Destroyed, Lost or Stolen Notes. 

If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the Note has been lost, destroyed or
wrongfully taken, the Issuer shall issue and the Agent shall authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder (a) satisfies the Issuer or the Agent that such
Note has been lost, destroyed or wrongfully taken within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar has not registered a transfer prior to receiving such notification, (b) makes
such request to the Issuer or Agent prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the Uniform Commercial Code (a “protected purchaser”) and (c) satisfies any other reasonable
requirements of the Agent; provided, however, if after the delivery of such replacement Note, a protected purchaser of the Note for which such replacement Note was issued presents for payment or registration such replaced Note, the Agent or
the Issuer shall be entitled to recover such replacement Note from the Person to whom it was issued and delivered or any Person taking therefrom, except a protected purchaser, and shall be entitled to recover upon the security or indemnity provided
therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Agent in connection therewith. Such Holder shall furnish an indemnity bond sufficient in the judgment of the Issuer and the Agent to protect the Issuer, the
Agent, the Paying Agent and the Registrar from any loss which any of them may suffer if a Note is replaced, and, in the absence of notice to the Issuer, any Subsidiary Guarantor or the Agent that such Note has been acquired by a protected purchaser,
the Issuer shall execute, and upon receipt of an Issuer Order, the Agent shall authenticate and make available for delivery, in exchange for any such mutilated Note or in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and
principal amount, bearing a number not contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen
Note has become or is about to become due and payable, the Issuer in its discretion may, instead of issuing a new Note, pay such Note. 
 Upon the issuance of any new Note under this Section 2.10, the Issuer may require that such Holder pay 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 counsel and of the Agent) in connection therewith. 

Subject to the proviso in the initial paragraph of this Section 2.10, every new Note issued pursuant to this Section in lieu
of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Issuer, any Subsidiary Guarantor (if applicable) and any other obligor upon the Notes, whether or not the mutilated, destroyed,
lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with any and all other Notes duly issued hereunder. 

The provisions of this Section 2.10 are exclusive and shall preclude (to the extent lawful) all other rights and remedies
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 

  
 55 

 SECTION 2.11. Outstanding Notes. 

Notes outstanding at any time are all Notes authenticated by the Agent except for those cancelled by it, those delivered to it for
cancellation and those described in this Section as not outstanding. A Note does not cease to be outstanding in the event the Issuer or an Affiliate of the Issuer holds the Note; provided, however, that (i) for purposes of determining
which are outstanding for consent or voting purposes hereunder, the provisions of Section 13.6 shall apply and (ii) in determining whether the Agent shall be protected in making a determination whether the Holders of the requisite
principal amount of outstanding Notes are present at a meeting of Holders of Notes for quorum purposes or have consented to or voted in favor of any request, demand, authorization, direction, notice, consent, waiver, amendment or modification
hereunder, or relying upon any such quorum, consent or vote, only Notes which a Trust Officer of the Agent actually knows to be held by the Issuer or an Affiliate of the Issuer shall not be considered outstanding. 

If a Note is replaced pursuant to Section 2.10 (other than a mutilated Note surrendered for replacement), it ceases to be
outstanding unless the Agent and the Issuer receive proof satisfactory to them that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon surrender of such Note and replacement pursuant to
Section 2.10. 
 If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
Redemption Date or maturity date money sufficient to pay all principal, premium, if any, and accrued interest payable on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, and the Paying Agent
is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.12. Temporary Notes. 
 In the event that Definitive Notes are to be issued under the terms of this Indenture, until such Definitive Notes are ready for delivery, the Issuer may prepare and the Agent shall authenticate temporary
Notes. Temporary Notes shall be substantially in the form, and shall carry all rights, of Definitive Notes but may have variations that the Issuer considers appropriate for temporary Notes. Without unreasonable delay, the Issuer shall prepare and
the Agent shall authenticate Definitive Notes. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at any office or agency maintained by the Issuer for that
purpose and such exchange shall be without charge to the Holder. Upon surrender for cancellation of any one or more temporary Notes, the Issuer shall execute, and the Agent shall authenticate and make available for delivery in exchange therefor, one
or more Definitive Notes representing an equal principal amount of Notes. Until so exchanged, the Holder of temporary Notes shall in all respects be entitled to the same benefits under this Indenture as a Holder of Definitive Notes. 

SECTION 2.13. Cancellation. 
 The Issuer at any time may deliver Notes to the Agent for cancellation. The Registrar and the Paying Agent shall forward to the Agent any Notes surrendered to them for registration of transfer, exchange
or payment. The Agent and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment or cancellation and dispose of such Notes in accordance with its internal policies and customary procedures including delivery
of a certificate describing such Notes disposed (subject to the record retention requirements of the Exchange Act) or deliver copies of canceled Notes to the Issuer pursuant to written direction by one Officer. If the Issuer or any Subsidiary
Guarantor acquires any of the Notes, such acquisition shall not operate as a redemption or satisfaction of the Indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this
Section 2.13. The Issuer may not issue new Notes to replace Notes it has paid or delivered to the Agent for cancellation for any reason other than in connection with a transfer or exchange. 

  
 56 

 At such time as all beneficial interests in a Global Note have either been exchanged for
Definitive Notes, transferred, redeemed, repurchased or canceled, such Global Note shall be returned by DTC to the Agent for cancellation or retained and canceled by the Agent. At any time prior to such cancellation, if any beneficial interest in a
Global Note is exchanged for Definitive Notes, transferred in exchange for an interest in another Global Note, redeemed, repurchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall
be made on the books and records of the Agent (if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Agent or the Notes Custodian, to reflect such reduction. 

SECTION 2.14. Payment of Interest; Defaulted Interest. 

Interest on any Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the
Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the regular record date for such payment at the office or agency of the Issuer maintained for such purpose pursuant to
Section 2.3. 
 Any interest on any Note which is payable, but is not paid when the same becomes due and payable and
such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate borne by the
Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: 

(a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Notes (or their respective
predecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer 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 of the Persons entitled to such Defaulted Interest as in this Section 2.14(a). Thereupon the Issuer shall fix a record date (the “Special Record Date”) for the payment
of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed
payment. The Issuer shall promptly notify the Trustee of such Special Record Date, and in the name and at the expense of the Issuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and
Special Interest Payment Date therefor to be given in the manner provided for in Section 13.2, 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 and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Notes (or their respective predecessor Notes) are registered at the
close of business on such Special Record Date and shall no longer be payable pursuant to the provisions in Section 2.14(b). 

  
 57 

 (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this
Section 2.14(b), such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing
provisions of this Section 2.14, each Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Note. 
 SECTION 2.15. CUSIP, Common Code and ISIN Numbers. 

The Issuer in issuing the Notes may use “CUSIP,” “Common Code” and “ISIN” numbers and, if so, the Trustee
shall use “CUSIP,” “Common Code” and “ISIN” numbers in notices of redemption or purchase as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption or purchase and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption or purchase
shall not be affected by any defect in or omission of such CUSIP, Common Code and ISIN numbers. The Issuer shall promptly notify the Trustee in writing of any change in the CUSIP, Common Code and ISIN numbers. 

ARTICLE III 

COVENANTS 

SECTION 3.1. Payment of Notes. 
 The Issuer shall pay the principal of, premium, if any, and interest (including Additional Interest) on the Notes on the dates and in the manner provided in the Notes and in this Indenture. Principal,
premium, if any, and interest (including Additional 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, premium, if any,
and interest (including Additional Interest) then due. 
 The Issuer shall pay interest on overdue principal at the rate
specified therefor in the Notes, and it shall pay interest on overdue installments of interest (including Additional Interest) at the same rate to the extent lawful. 

  
 58 

 Notwithstanding anything to the contrary contained in this Indenture, the Issuer may, to the
extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America from principal or interest payments hereunder. 
 SECTION 3.2. Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock. 
 (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly liable,
contingently or otherwise (collectively, “incur” and collectively, an “incurrence”) with respect to any Indebtedness (including Acquired Indebtedness) and the Issuer shall not issue any shares of Disqualified Stock
and shall not permit any Restricted Subsidiary to issue any shares of Disqualified Stock or Preferred Stock; provided, however, that the Issuer may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified
Stock, and any of its Restricted Subsidiaries may incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock and issue shares of Preferred Stock, if the Leverage Ratio on a consolidated basis for the Issuer and its
Restricted Subsidiaries’ most recently ended four fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or Preferred
Stock is issued would have been less than 4.5 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred, or the Disqualified Stock or Preferred
Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period. 
 (b) The limitations of Section 3.2(a) shall not apply to: 
 (1) the incurrence of Indebtedness under Credit Facilities by the Issuer or any of the Subsidiary Guarantors and the issuance and creation of letters of credit and bankers’ acceptances thereunder
(with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof), up to an aggregate principal amount of $600.0 million outstanding at any one time, less the aggregate principal amount
of all principal repayments with the proceeds from Asset Sales made pursuant to Section 3.5(b)(1)(a) and (b) in satisfaction of the requirements of Section 3.5; 

(2) the incurrence by the Issuer and any Subsidiary Guarantor of Indebtedness represented by the Notes (including any
Guarantee) (other than any Additional Notes) and exchange notes issued in respect of such Notes and any Guarantee thereof; 
 (3) Indebtedness of the Issuer and its Restricted Subsidiaries in existence on the Issue Date (other than Indebtedness described in Sections 3.2(b)(1) and 3.2(b)(2)); 

(4) Indebtedness (including Capitalized Lease Obligations) incurred or, Disqualified Stock and Preferred Stock issued by
the Issuer or any of its Restricted Subsidiaries, to finance the purchase, lease or improvement of property (real or personal) or equipment that is used or useful in a Similar Business, whether through the direct purchase of assets or the Capital
Stock of any Person owning such assets; provided that the aggregate amount of Indebtedness, Disqualified Stock and Preferred Stock incurred pursuant to this Section 3.2(b)(4), when aggregated with the outstanding amount of
Indebtedness, Disqualified Stock and Preferred Stock incurred pursuant to Section 3.2(b)(13) to refinance Indebtedness, Disqualified Stock and Preferred Stock initially incurred in reliance on this Section 3.2(b)(4), does not
exceed the greater of $30.0 million and 1.5% of the Issuer’s Total Assets at any one time outstanding; 

  
 59 

 (5) Indebtedness incurred by the Issuer or any of its Restricted
Subsidiaries constituting reimbursement obligations with respect to letters of credit issued in the ordinary course of business, including, without limitation, letters of credit in respect of workers’ compensation claims, health, disability or
other employee benefits or property, casualty or liability insurance or self insurance, or other Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims; provided, however, that upon the
drawing of such letters of credit or the incurrence of such Indebtedness, such obligations are reimbursed within 30 days following such drawing or incurrence; 
 (6) Indebtedness arising from agreements of the Issuer or its Restricted Subsidiaries providing for indemnification, adjustment of purchase price or similar obligations, in each case, incurred or assumed
in connection with the acquisition or disposition of any business, assets or a Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of
financing such acquisition; provided, however, that 
  

	 	(A)	such Indebtedness is not reflected on the balance sheet of the Issuer, or any of its Restricted Subsidiaries prepared in accordance with GAAP (contingent obligations
referred to in a footnote to financial statements and not otherwise reflected on the balance sheet shall not be deemed to be reflected on such balance sheet for purposes of this Section 3.2(b)(6)(A)); and 

 

	 	(B)	with respect to a disposition, the maximum assumable liability in respect of all such Indebtedness shall at no time exceed the gross proceeds including non-cash
proceeds (the fair market value of such non-cash proceeds being measured at the time received and without giving effect to any subsequent changes in value) actually received by the Issuer and its Restricted Subsidiaries in connection with such
disposition; 

 (7) Indebtedness of the Issuer to a Restricted Subsidiary; provided that any
such Indebtedness owing to a Non-Guarantor Subsidiary is expressly subordinated in right of payment to the Notes; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any
Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an incurrence of such Indebtedness not
permitted by this Section 3.2(b)(7); 

  
 60 

 (8) Indebtedness of a Restricted Subsidiary owing to the Issuer or another
Restricted Subsidiary; provided that if a Subsidiary Guarantor incurs such Indebtedness owing to a Non-Guarantor Subsidiary, such Indebtedness is expressly subordinated in right of payment to the Guarantee of the Notes of such Subsidiary
Guarantor; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of any such
Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this Section 3.2(b)(8); 

(9) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted Subsidiary;
provided that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred
Stock (except to the Issuer or another of its Restricted Subsidiaries) shall be deemed in each case to be an issuance of such shares of Preferred Stock not permitted by this Section 3.2(b)(9); 

(10) Hedging Obligations (excluding Hedging Obligations entered into for speculative purposes) for the purpose of limiting
interest rate risk, exchange rate risk or commodity pricing risk; 
 (11) obligations in respect of performance,
bid, appeal and surety bonds and performance and completion guarantees or obligations in respect of letters of credit related thereto provided by the Issuer or any of its Restricted Subsidiaries in the ordinary course of business; 

(12) Indebtedness or Disqualified Stock of the Issuer and Indebtedness, Disqualified Stock or Preferred Stock of any
Restricted Subsidiary not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount and liquidation preference of all other Indebtedness, Disqualified Stock and
Preferred Stock then outstanding and incurred pursuant to this Section 3.2(b)(12), does not at any one time outstanding exceed $40.0 million; 
 (13) the incurrence or issuance by the Issuer of Indebtedness or Disqualified Stock or the incurrence or issuance by a Restricted Subsidiary of Indebtedness, Disqualified Stock or Preferred Stock which
serves to refund or refinance any Indebtedness incurred or Disqualified Stock or Preferred Stock issued as permitted under Section 3.2(a) and Section 3.2(b)(2), Section 3.2(b)(3), this
Section 3.2(b)(13) and Section 3.2(b)(14) or any Indebtedness incurred or Disqualified Stock or Preferred Stock issued to so refund or refinance such Indebtedness, Disqualified Stock or Preferred Stock including additional
Indebtedness incurred or Disqualified Stock or Preferred Stock issued to pay premiums (including tender premiums), defeasance costs and fees in connection therewith (the “Refinancing Indebtedness”) prior to its respective maturity;
provided, however, that such Refinancing Indebtedness: 
  

	 	(A)	has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is incurred which is not less than the remaining Weighted Average Life to Maturity of
the Indebtedness, Disqualified Stock or Preferred Stock being refunded or refinanced, 

  
 61 

  

	 	(B)	to the extent such Refinancing Indebtedness refinances (i) Indebtedness subordinated or pari passu to the Notes or any Guarantee thereof, such Refinancing
Indebtedness is subordinated or pari passu to the Notes or the Guarantee at least to the same extent as the Indebtedness being refinanced or refunded or (ii) Disqualified Stock or Preferred Stock, such Refinancing Indebtedness must be
Disqualified Stock or Preferred Stock, respectively, 

  

	 	(C)	shall not include: 

 (x)
Indebtedness, Disqualified Stock or Preferred Stock of a Non-Guarantor Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Issuer; 
 (y) Indebtedness, Disqualified Stock or Preferred Stock of a Non-Guarantor Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of a Subsidiary Guarantor; or 

(z) Indebtedness, Disqualified Stock or Preferred Stock of the Issuer or a Restricted Subsidiary that refinances Indebtedness,
Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary; 
  

	 	(D)	shall not be in a principal amount in excess of the principal amount of, premium, if any, accrued interest on and related fees and expenses (including tender premiums)
of, the Indebtedness being refunded or refinanced, and 

  

	 	(E)	shall not have a stated maturity date prior to the earlier of the stated maturity of the Indebtedness being so refunded or refinanced or the stated maturity of the
Notes; 

 and provided, further, that subclauses (A) and (E) of this
Section 3.2(b)(13) shall not apply to any refunding or refinancing of any Indebtedness outstanding under the New Credit Facilities; 
 (14) Indebtedness, Disqualified Stock or Preferred Stock of (x) the Issuer or a Restricted Subsidiary incurred or issued to finance an acquisition or (y) Persons that are acquired by the Issuer
or any Restricted Subsidiary or merged into or consolidated with the Issuer or a Restricted Subsidiary in accordance with the terms of the Indenture; provided that after giving effect to such acquisition, merger or consolidation, either
(a) the Issuer would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Leverage Ratio test set forth in Section 3.2(a) or (b) the Leverage Ratio of the Issuer and its Restricted Subsidiaries is
less than immediately prior to such acquisition, merger or consolidation; 

  
 62 

 (15) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness is extinguished within five Business Days of its incurrence; 

(16) Indebtedness of the Issuer or any of its Restricted Subsidiaries supported by a letter of credit issued pursuant to
the New Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit; 

(17) (A) any guarantee by the Issuer or a Subsidiary Guarantor of Indebtedness or other obligations of any Restricted
Subsidiary so long as the incurrence of such Indebtedness is permitted under the terms of the Indenture; provided that if such Indebtedness is by its express terms subordinated in right of payment to the Guarantee of such Restricted
Subsidiary, any such guarantee of the Issuer or such Subsidiary Guarantor with respect to such Indebtedness shall be subordinated in right of payment to the Notes or such Subsidiary Guarantors’ Guarantee with respect to the Notes substantially
to the same extent as such Indebtedness is subordinated to the Guarantee of such Restricted Subsidiary, as applicable; 
  

	 	(B)	any guarantee by a Subsidiary Guarantor of Indebtedness of the Issuer so long as the incurrence of such Indebtedness is permitted under the terms of this Indenture and
such guarantee is incurred in accordance with Section 3.7; provided that if such Indebtedness is by its express terms subordinated in right of payment to the Notes, any such guarantee of such Subsidiary Guarantor with respect to
such Indebtedness shall be subordinated in right of payment to the Notes or such Subsidiary Guarantors’ Guarantee with respect to the Notes substantially to the same extent as such Indebtedness is subordinated to the Notes, as applicable; or

  

	 	(C)	any guarantee by a Non-Guarantor Subsidiary of Indebtedness of another Non-Guarantor Subsidiary incurred in accordance with the terms of the Indenture;

 (18) Indebtedness of the Issuer or any of its Restricted Subsidiaries consisting of the
financing of insurance premiums; and 
 (19) Indebtedness consisting of Indebtedness issued by the Issuer or any
of its Restricted Subsidiaries to current or former officers, members of the board of managers or directors and employees and consultants thereof, their respective estates, spouses or former spouses, in each case to finance, either directly or
through promissory notes issued to such persons, the purchase or redemption of Equity Interests of the Issuer or any direct or indirect parent company of the Issuer to the extent described in Section 3.3(b)(4). 

  
 63 

  

	 	(c)	For purposes of determining compliance with this covenant: 

 (1) in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified
Stock or Preferred Stock described in Section 3.2(b)(1) through Section 3.2(b)(19) or is entitled to be incurred pursuant to Section 3.2(a), the Issuer, in its sole discretion, shall classify or reclassify
such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) and shall only be required to include the amount and type of such Indebtedness, Disqualified Stock or Preferred Stock in Section 3.2(a) or one of
the clauses set forth in Section 3.2(b). Additionally, all or any portion of any item of Indebtedness may later be classified as having been incurred pursuant to any category of permitted Indebtedness described in
Section 3.2(b)(1) through Section 3.2(b)(19) or pursuant to Section 3.2(a) so long as such Indebtedness is permitted to be incurred pursuant to such provision at the time of reclassification. Notwithstanding the
foregoing, all Indebtedness outstanding under the New Credit Facilities on the Issue Date shall be treated as incurred under Section 3.2(b)(1) and may not later be reclassified; and 

(2) at the time of incurrence, the Issuer shall be entitled to divide and classify an item of Indebtedness in more than
one of the types of Indebtedness described in Sections 3.2(a) and 3.2(b), subject to the last sentence of Section 3.2(c)(1). 
 Accrual of interest or dividends, the accretion of accreted value, the accretion or amortization of original issue discount and the payment of interest or dividends in the form of additional Indebtedness,
Disqualified Stock or Preferred Stock shall not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section 3.2. 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the
U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term debt, or first
committed, in the case of revolving credit debt; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable U.S. dollar-denominated
restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of
such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. 
 The principal
amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such
respective Indebtedness is denominated that is in effect on the date of such refinancing. 

  
 64 

 The Issuer shall not, and shall not permit any Subsidiary Guarantor to, directly or
indirectly, incur any Indebtedness (including Acquired Indebtedness) that is subordinated or junior in right of payment to any Indebtedness of the Issuer or such Subsidiary Guarantor, as the case may be, unless such Indebtedness is expressly
subordinated in right of payment to the Notes or such Subsidiary Guarantor’s Guarantee to the extent and in the same manner as such Indebtedness is subordinated to other Indebtedness of the Issuer or such Subsidiary Guarantor, as the case may
be. 
 For purposes of this Indenture, (1) unsecured Indebtedness shall not be treated as subordinated or junior to Secured
Indebtedness merely because it is unsecured or (2) Senior Indebtedness shall not be treated as subordinated or junior to any other Senior Indebtedness merely because it has a junior priority with respect to the same collateral or is secured by
different collateral. 
 SECTION 3.3. Limitation on Restricted Payments. 

(a) The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(i) declare or pay any dividend or make any payment or distribution on account of the Issuer’s, or any of its
Restricted Subsidiaries’, Equity Interests, including any dividend or distribution payable in connection with any merger or consolidation other than: 
  

	 	(A)	dividends or distributions by the Issuer payable solely in Equity Interests (other than Disqualified Stock) of the Issuer; or 

 

	 	(B)	dividends or distributions by a Restricted Subsidiary to the Issuer or any other Restricted Subsidiary (and if such Restricted Subsidiary is not a Wholly-Owned
Subsidiary, to its other holders of common stock on a pro rata basis) so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly-Owned
Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of securities; 

(ii) purchase, redeem, defease or otherwise acquire or retire for value any Equity Interests of the Issuer or any direct
or indirect parent of the Issuer, including in connection with any merger or consolidation involving the Issuer; 

(iii) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or retire for value, in each
case, prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness, other than: 
  

	 	(A)	Indebtedness permitted under Sections 3.2(b)(7) and 3.2(b)(8); or 

  
 65 

  

	 	(B)	the purchase, repurchase or other acquisition of Subordinated Indebtedness purchased in anticipation of satisfying a sinking fund obligation, principal installment or
final maturity, in each case due within one year of the date of purchase, repurchase or acquisition; or 

 (iv) make any Restricted Investment 
 (all such payments and other actions set forth in
clauses (i) through (iv) above being collectively referred to as “Restricted Payments”), unless, at the time of such Restricted Payment: 
  

	 	(A)	no Default shall have occurred and be continuing or would occur as a consequence thereof; 

 

	 	(B)	immediately after giving effect to such transaction on a pro forma basis, the Issuer could incur $1.00 of additional Indebtedness under Section 3.2(a); and

  

	 	(C)	such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date
(including Restricted Payments permitted by Sections 3.3(b)(1) and (11) and up to $50.0 million of the first Restricted Payments made pursuant to Section 3.3(b)(8), but excluding all other Restricted Payments permitted
by Section 3.3(b)), is less than the sum of (without duplication): 

  

	 	(i)	100% of EBITDA of the Issuer for the period (taken as one accounting period) commencing October 1, 2010, to the end of the Issuer’s most recently ended fiscal
quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such EBITDA for such period is a deficit, minus 100% of such deficit) less 1.4 times Fixed Charges for the same period; plus

  

	 	(ii)	100% of the aggregate net cash proceeds and the fair market value, as determined in Good Faith by the Issuer, of marketable securities or other property received by the
Issuer since immediately after the Issue Date from the issue or sale of: 

  

	 	(a)	(x) Equity Interests of the Issuer, including Treasury Capital Stock (as defined below), but excluding cash proceeds and the fair market value, as determined in Good
Faith by the Issuer, of marketable securities or other property received from the sale of: 

  

	 	(1)	Equity Interests to members of management, members of the board of managers or directors or consultants of the Issuer, any direct or indirect parent company of the
Issuer and the Issuer’s Subsidiaries after the Issue Date to the extent such amounts have been applied to Restricted Payments made in accordance with Section 3.3(b)(4); and 

  
 66 

  

	 	(2)	Designated Preferred Stock; and 

(y) to the extent such net cash proceeds are actually contributed to the Issuer, Equity Interests of the Issuer’s direct or indirect
parent companies (excluding contributions of the proceeds from the sale of Designated Preferred Stock of such companies or contributions to the extent such amounts have been applied to Restricted Payments made in accordance with
Section 3.3(b)(4)); or 
  

	 	(b)	debt securities of the Issuer that have been converted into or exchanged for such Equity Interests of the Issuer or any direct or indirect parent of the Issuer;

 provided, however, that in addition to clauses (a) and (b) referred to above, this
clause (ii) shall not include the proceeds from (W) Refunding Capital Stock (as defined below), (X) Equity Interests or convertible debt securities of the Issuer sold to a Restricted Subsidiary, as the case may be) and
(Y) Disqualified Stock or debt securities that have been converted into Disqualified Stock; plus 
  

	 	(iii)	100% of the aggregate amount of cash and the fair market value, as determined in Good Faith by the Issuer, of marketable securities or other property contributed to the
capital of the Issuer following the Issue Date (other than net cash proceeds to the extent such net cash proceeds are contributed by a Restricted Subsidiary); plus 

 

	 	(iv)	100% of the aggregate amount received in cash and the fair market value, as determined in Good Faith by the Issuer, of marketable securities or other property by means
of: 

  

	 	(a)	the sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of Restricted Investments made by the Issuer or its Restricted Subsidiaries and
repurchases and redemptions of such Restricted Investments from the Issuer or its Restricted Subsidiaries and repayments of loans or advances, and releases of guarantees, which constitute Restricted Investments by the Issuer or its Restricted
Subsidiaries, in each case after the Issue Date; or 

  
 67 

  

	 	(b)	the sale (other than to the Issuer or a Restricted Subsidiary) of the stock of an Unrestricted Subsidiary or a distribution from an Unrestricted Subsidiary (other than
in each case to the extent of the amount of the Investment in such Unrestricted Subsidiary made by the Issuer or a Restricted Subsidiary pursuant to Section 3.3(b)(8) or to the extent of the amount of the Investment that constituted a
Permitted Investment) or a dividend from an Unrestricted Subsidiary after the Issue Date; plus 

  

	 	(v)	in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary or the merger or consolidation of an Unrestricted Subsidiary into the Issuer
or a Restricted Subsidiary or the transfer of all or substantially all of the assets of an Unrestricted Subsidiary to the Issuer or a Restricted Subsidiary after the Issue Date, the fair market value of the Investment in such Unrestricted Subsidiary
(or the assets transferred), as determined in Good Faith by the Issuer or, if such fair market value exceeds $50.0 million, in writing by an Independent Financial Advisor, at the time of the redesignation of such Unrestricted Subsidiary as a
Restricted Subsidiary or at the time of such merger or consolidation or transfer of assets (after taking into consideration any Indebtedness associated with the Unrestricted Subsidiary so designated or merged or consolidated or Indebtedness
associated with the assets so transferred), other than to the extent of the amount of the Investment in such Unrestricted Subsidiary made by the Issuer or a Restricted Subsidiary pursuant to Section 3.3(b)(8) or to the extent of the
amount of the Investment that constituted a Permitted Investment. 

 (b) The foregoing provisions of
Section 3.3(a) hereof shall not prohibit: 
 (1) the payment of any dividend or distribution within
60 days after the date of declaration thereof, if at the date of declaration such payment would have complied with the provisions of the Indenture or the redemption, repurchase or retirement of Indebtedness if, at the date of any irrevocable
redemption notice such payment would have complied with the provisions of the Indenture; 

  
 68 

 (2) (a) the redemption, repurchase, retirement or other acquisition of any
Equity Interests (“Treasury Capital Stock”) or Subordinated Indebtedness of the Issuer or any Equity Interests of any direct or indirect parent company of the Issuer, in exchange for, or out of the proceeds of, the substantially
concurrent sale or issuance (other than to a Restricted Subsidiary) of, Equity Interests of the Issuer or any direct or indirect parent company of the Issuer to the extent contributed to the Issuer (in each case, other than any Disqualified Stock)
(“Refunding Capital Stock”), (b) the declaration and payment of dividends on Treasury Capital Stock out of the proceeds of the substantially concurrent sale or issuance (other than to a Subsidiary of the Issuer or to an
employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock, and (c) if immediately prior to the retirement of Treasury Capital Stock, the declaration and payment of dividends
thereon was permitted under Section 3.3(b)(6), the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire
any Equity Interests of any direct or indirect parent company of the Issuer) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Treasury Capital Stock immediately
prior to such retirement; 
 (3) the redemption, repurchase, defeasance or other acquisition or retirement for
value of Subordinated Indebtedness of the Issuer or a Subsidiary Guarantor made by exchange for, or out of the proceeds of, the substantially concurrent sale of, new Indebtedness of the Issuer or such Subsidiary Guarantor, as the case may be, which
is incurred in compliance with the provisions of Section 3.2 so long as: 
  

	 	(A)	the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount of (or accreted value, if applicable), plus any
accrued and unpaid interest on, the Subordinated Indebtedness being so redeemed, repurchased, defeased, exchanged, acquired or retired for value, plus the amount of any premium (including any tender premiums), defeasance costs and any fees and
expenses incurred in connection with such redemption, repurchase, defeasance, exchange, acquisition or retirement and the issuance of such new Indebtedness; 

 

	 	(B)	such new Indebtedness is subordinated to the Notes or the applicable Guarantee at least to the same extent as such Subordinated Indebtedness so repurchased, defeased,
exchanged, redeemed, acquired or retired for value; 

  

	 	(C)	such new Indebtedness has a final scheduled maturity date equal to or later than the earlier of the final scheduled maturity date of the Subordinated Indebtedness being
so redeemed, repurchased, defeased, exchanged, acquired or retired, or the maturity date of the Notes; and 

  
 69 

  

	 	(D)	such new Indebtedness has a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness
being so redeemed, repurchased, defeased, exchanged, acquired or retired; 

 (4) a Restricted
Payment to pay for the repurchase, retirement or other acquisition or retirement for value of Equity Interests (other than Disqualified Stock) of the Issuer or any of its direct or indirect parent companies held by any future, present or former
employee, member of the board of directors or consultant of the Issuer, any of its Subsidiaries or any of its direct or indirect parent companies (permitted transferees, assigns, estates or heirs of such employee, director or consultant), pursuant
to any management equity plan or stock option plan or any other management or employee benefit plan or agreement; provided, however, that the aggregate Restricted Payments made under this Section 3.3(b)(4) do not exceed in
any calendar year $5.0 million (with unused amounts in any calendar year being carried over to succeeding calendar years subject to a maximum (without giving effect to the following proviso) of $10.0 million in any calendar year); provided
further that such amount in any calendar year may be increased by an amount not to exceed: 
  

	 	(A)	the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Issuer and, to the extent contributed to the Issuer, Equity Interests of any
of the Issuer’s direct or indirect parent companies, in each case to any employee, member of the board of directors or consultant of the Issuer, any of its Subsidiaries or any of its direct or indirect parent companies that occurs after the
Issue Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of Section 3.3(a)(C); plus 

 

	 	(B)	the cash proceeds of key man life insurance policies received by the Issuer or its Restricted Subsidiaries after the Issue Date; less 

 

	 	(C)	the amount of any Restricted Payments previously made with the cash proceeds described in Sections 3.3(b)(4)(A) and (B); 

and provided further that cancellation of Indebtedness owing to the Issuer or any Restricted Subsidiary from any employee, member
of the board of directors or consultant of the Issuer, any of the Issuer’s direct or indirect parent companies or any of the Issuer’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Issuer or any of its
direct or indirect parent companies shall not be deemed to constitute a Restricted Payment for purposes of this covenant or any other provision of the Indenture; 

(5) the declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Issuer or any
of its Restricted Subsidiaries issued in accordance with the covenant described under Section 3.2 to the extent such dividends are included in the definition of “Fixed Charges”; 

  
 70 

 (6) (A) the declaration and payment of dividends and distributions to
holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued by the Issuer after the Issue Date; provided that the amount of dividends paid pursuant to this Section 3.3(b)(6)(A) shall not
exceed the aggregate amount of cash actually received by the Issuer from the sale of such Designated Preferred Stock; 
  

	 	(B)	the declaration and payment of dividends and distributions to a direct or indirect parent company of the Issuer, the proceeds of which shall be used to fund the payment
of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of such parent company issued after the Issue Date; provided that the amount of dividends paid pursuant to this clause
Section 3.3(b)(6)(B) shall not exceed the aggregate amount of cash actually contributed to the Issuer from the sale of such Designated Preferred Stock; or 

 

	 	(C)	the declaration and payment of dividends and distributions on Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and payable thereon
pursuant Section 3.3(b)(2); 

 provided, however, in the case of each of
Section 3.3(b)(6)(A), (B) and (C), that for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date of issuance of such Designated
Preferred Stock, after giving effect to such issuance or declaration on a pro forma basis, the Issuer and its Restricted Subsidiaries on a consolidated basis would have had a Leverage Ratio of less than 4.5 to 1.00; 

(7) repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests
represent a portion of the exercise price of such options or warrants; 
 (8) other Restricted Payments in an
aggregate amount, taken together with all other Restricted Payments made pursuant to this clause Section 3.3(b)(8), that are at the time outstanding (without giving effect to the sale of an Investment to the extent the proceeds of such
sale do not consist of, or have not been subsequently sold or transferred for, cash or marketable securities) not to exceed $85.0 million at the time made; 
 (9) distributions or payments of Securitization Fees, sales contributions and other transfers of Securitization Assets and purchases of Securitization Assets pursuant to a Securitization Repurchase
Obligation, in each case in connection with a Qualified Securitization Financing; 
 (10) any Restricted Payment
contemplated pursuant to the Refinancing Transactions and the fees and expenses related thereto; 

  
 71 

 (11) the repurchase, redemption or other acquisition or retirement for value
of any Preferred Stock or Subordinated Indebtedness pursuant to provisions similar to Section 3.5 and Section 3.10; provided that all Notes tendered by Holders in connection with a Change of Control Offer or Asset Sale
Offer, as applicable, have been repurchased, redeemed or acquired for value; 
 (12) the distribution, by
dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Issuer or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Cash Equivalents);
and 
 (13) cash payments in lieu of the issuance of fractional shares or interests in connection with the
exercise of warrants, options or other rights or securities convertible into or exchangeable for Capital Stock of the Issuer or any direct or indirect parent company of the Issuer; provided that any such cash payment shall not be for the
purpose of evading the limitation of this covenant; 
 provided however, that at the time of, and after giving effect to, any Restricted
Payment permitted under Sections 3.3(b)(4), 3.3(b)(8), and 3.3(b)(12), no Default shall have occurred and be continuing or would occur as a consequence thereof. 

The amount of all Restricted Payments (other than cash) shall be the fair market value (as determined in Good Faith by the Issuer) on the
date of such Restricted Payment of the assets or securities proposed to be paid, transferred or issued by the Issuer or such Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. 

The Issuer shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the last sentence of the
definition of “Unrestricted Subsidiary.” For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and its Restricted Subsidiaries (except to the extent repaid) in the
Subsidiary so designated shall be deemed to be Investments in an amount determined as set forth in the last sentence of the definition of “Investment.” Such designation shall be permitted only if a Restricted Payment in such amount would
be permitted at such time, whether pursuant to Section 3.3 or pursuant to the definition of “Permitted Investments,” and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted Subsidiaries
shall not be subject to any of the restrictive covenants set forth in the Indenture. 
 SECTION 3.4. Dividend and Other
Payment Restrictions Affecting Restricted Subsidiaries. 
 (a) The Issuer shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Restricted Subsidiary to: 

(1) (i) pay dividends or make any other distributions to the Issuer or any of its Restricted Subsidiaries on its Capital
Stock or with respect to any other interest or participation in, or measured by, its profits, or (ii) pay any Indebtedness owed to the Issuer or any of its Restricted Subsidiaries; 

  
 72 

 (2) make loans or advances to the Issuer or any of its Restricted
Subsidiaries; or 
 (3) sell, lease or transfer any of its properties or assets to the Issuer or any of its
Restricted Subsidiaries. 
 (b) The restrictions in Section 3.4(a) shall not apply (in each case) to encumbrances or
restrictions existing under or by reason of: 
  

	 	(i)	contractual encumbrances or restrictions in effect on the Issue Date, including pursuant to the New Credit Facilities and the related documentation and related Hedging
Obligations and Cash Management Obligations; 

  

	 	(ii)	the Indenture, the Notes and the Guarantees (including any exchange notes and related guarantees); 

 

	 	(iii)	purchase money obligations for property acquired in the ordinary course of business that impose restrictions of the nature discussed in Section 3.4(a)(3) on
the property so acquired; 

  

	 	(iv)	applicable law or any applicable rule, regulation or order; 

  

	 	(v)	any agreement or other instrument of a Person acquired by the Issuer or any Restricted Subsidiary in existence at the time of such acquisition (or at the time it merges
with or into the Issuer or any Restricted Subsidiary or assumed in connection with the acquisition of assets from such Person) (but, in each case, not created in contemplation thereof), which encumbrance or restriction is not applicable to any
Person, or the properties or assets of any Person, other than the Person and its Subsidiaries, or the property or assets of the Person and its Subsidiaries, so acquired; 

 

	 	(vi)	contracts for the sale of assets, including customary restrictions with respect to a Subsidiary of the Issuer pursuant to an agreement that has been entered into for
the sale or disposition of all or substantially all of the Capital Stock or assets of such Subsidiary; 

  

	 	(vii)	Secured Indebtedness otherwise permitted to be incurred pursuant to Sections 3.2 and 3.6 that limit the right of the debtor to dispose of the assets
securing such Indebtedness; 

  

	 	(viii)	restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; 

  
 73 

  

	 	(ix)	customary provisions in joint venture agreements or arrangements and other similar agreements relating solely to such joint venture; provided that with respect
to any joint venture agreement relating to a Restricted Subsidiary, such provisions shall not materially affect the Issuer’s ability to make anticipated principal or interest payments on the Notes (as determined in Good Faith by the Issuer);

  

	 	(x)	customary provisions contained in leases, subleases, licenses, sublicenses or other agreements, in each case, entered into in the ordinary course of business;

  

	 	(xi)	any agreement or instrument (A) relating to any Indebtedness or preferred stock of a Restricted Subsidiary permitted to be incurred subsequent to the Issue Date
pursuant to Section 3.2 if the encumbrances and restrictions are not materially more disadvantageous to the Holders than is customary in comparable financings (as determined in good faith by the Issuer) and (B) either (x) the
Issuer determines that such encumbrance or restriction shall not adversely affect the Issuer’s ability to make principal and interest payments on the Notes as and when they come due or (y) such encumbrances and restrictions apply only
during the continuance of a default in respect of a payment or financial maintenance covenant relating to such Indebtedness; 

  

	 	(xii)	any encumbrances or restrictions of the type referred to in clauses (1), (2) and (3) of Section 3.4(a) imposed by any
amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (i) through (xi) above; provided that such amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, no more restrictive in any material respect with respect to such encumbrance and other
restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing; and 

 

	 	(xiii)	restrictions created in connection with any Qualified Securitization Financing that, in the good faith determination of the Issuer, are necessary or advisable to effect
such Securitization Facility. 

 SECTION 3.5. Limitation on Asset Sales. (a) The Issuer shall
not, and shall not permit any of its Restricted Subsidiaries to, consummate an Asset Sale, unless: 
 (1)
the Issuer or such Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the fair market value (as determined in Good Faith by the Issuer) of the assets sold or otherwise disposed of; and

  
 74 

 (2) except in the case of a Permitted Asset Swap, at least 75% of the
consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of: 

 

	 	(A)	any liabilities (as shown on the Issuer’s or such Restricted Subsidiary’s most recent balance sheet or in the footnotes thereto, or if incurred or accrued
subsequent to the date of such balance sheet, such liabilities that would have been shown on the Issuer or such Restricted Subsidiary’s balance sheet or in the footnotes thereto if such incurrence or accrual had taken place on or prior to the
date of such balance sheet, as determined in Good Faith by the Issuer) of the Issuer or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the Notes, that are assumed by the transferee of any such assets and
for which the Issuer and all of its Restricted Subsidiaries have been validly released by all creditors in writing, 

  

	 	(B)	any securities or other obligations received by the Issuer or such Restricted Subsidiary from such transferee that are converted by the Issuer or such Restricted
Subsidiary into cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received) within 180 days following the closing of such Asset Sale, and 

 

	 	(C)	any Designated Non-cash Consideration received by the Issuer or such Restricted Subsidiary in such Asset Sale having an aggregate fair market value, taken together with
all other Designated Non-cash Consideration received pursuant to this clause (c) that is at that time outstanding, not to exceed the greater of $50.0 million and 2.0% of Total Assets at the time of receipt of the Designated Non-cash
Consideration, with the fair market value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value, 

shall be deemed to be Cash Equivalents for purposes of this provision and for no other purpose. 

(b) Within 365 days after the receipt of any Net Proceeds of any Asset Sale, the Issuer or such Restricted Subsidiary, at its option, may
apply the Net Proceeds from such Asset Sale, 
  

	 	(1)	to reduce or repay: 

  

	 	a.	Obligations under the New Credit Facilities, and to correspondingly reduce commitments with respect thereto; 

 

	 	b.	Obligations under Indebtedness (other than Subordinated Indebtedness) that is secured by a Lien, which Lien is permitted by the Indenture, and to correspondingly reduce
commitments with respect thereto; 

  
 75 

  

	 	c.	Obligations under other Indebtedness (other than Subordinated Indebtedness) (and to correspondingly reduce commitments with respect thereto); provided that, to
the extent the Issuer reduces Obligations under such Indebtedness, the Issuer shall equally and ratably reduce Obligations under the Notes as provided in Section 5.7, through open-market purchases (to the extent such purchases are at or
above 100% of the principal amount thereof) or by making an offer (in accordance with the procedures set forth below for an Asset Sale Offer) to all Holders to purchase their Notes at 100% of the principal amount thereof, plus the amount of accrued
but unpaid interest, if any, and Additional Interest, if any, on the amount of Notes that would otherwise be prepaid; or 

  

	 	d.	Indebtedness of a Non-Guarantor Subsidiary, other than Indebtedness owed to the Issuer or another Restricted Subsidiary (and to correspondingly reduce commitments with
respect thereto); 

 (2) to make (a) an Investment in any one or more businesses;
provided that such Investment in any business is in the form of the acquisition of Capital Stock and results in the Issuer or another of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business
such that it constitutes a Restricted Subsidiary, (b) capital expenditures or (c) acquisitions of other assets (other than working capital assets), in the case of each of (a), (b) and (c), used or useful in a Similar Business; or

 (3) to make an Investment in (a) any one or more businesses, provided that such Investment in any
business is in the form of the acquisition of Capital Stock and results in the Issuer or another of its Restricted Subsidiaries, as the case may be, owning an amount of the Capital Stock of such business such that it constitutes a Restricted
Subsidiary, (b) properties (other than working capital assets) or (c) acquisitions of other assets (other than working capital assets) that, in the case of each of (a), (b) and (c), replace the businesses, properties and/or assets
that are the subject of such Asset Sale; 
 provided that, in the case of Section 3.5(b)(2) and
Section 3.5(b)(3), a binding commitment shall be treated as a permitted application of the Net Proceeds from the date of such commitment so long as the Issuer or such other Restricted Subsidiary enters into such commitment with the good
faith expectation that such Net Proceeds shall be applied to satisfy such commitment within 180 days of such commitment (an “Acceptable Commitment”) and, in the event any Acceptable Commitment is later cancelled or terminated for
any reason before the Net Proceeds are applied in connection therewith, the Issuer or such Restricted Subsidiary enters into another Acceptable Commitment (a “Second Commitment”) within 180 days of such cancellation or termination;
provided further that if any Second Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied, then such Net Proceeds shall constitute Excess Proceeds. 

  
 76 

 Any Net Proceeds from the Asset Sale that are not invested or applied as provided and within
the time period set forth in the first sentence of the preceding paragraph shall be deemed to constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds exceeds $20.0 million, the Issuer shall make an offer to all
Holders of the Notes, and, if required by the terms of any Indebtedness that is pari passu with the Notes (“Pari Passu Indebtedness”), to the holders of such Pari Passu Indebtedness (an “Asset Sale Offer”), to
purchase the maximum aggregate principal amount of the Notes and such Pari Passu Indebtedness that is equal to $2,000 or an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in
an amount equal to 100% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the date fixed for the closing of such offer, in accordance with the procedures set forth in the Indenture. The Issuer
shall commence an Asset Sale Offer with respect to Excess Proceeds within ten Business Days after the date that Excess Proceeds exceed $20.0 million by mailing the notice required pursuant to the terms of the Indenture, with a copy to the Trustee
and the Agent or otherwise in accordance with the procedures of DTC. The Issuer may satisfy the foregoing obligations with respect to such Net Proceeds from an Asset Sale by making an Asset Sale Offer with respect to such Net Proceeds prior to the
expiration of the application period. 
 To the extent that the aggregate amount of Notes and such Pari Passu Indebtedness
tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for general corporate purposes, subject to compliance with other covenants contained in the Indenture. If the aggregate
principal amount of Notes or the Pari Passu Indebtedness surrendered by such holders thereof exceeds the amount of Excess Proceeds, the Trustee or the applicable registrar shall select the Notes and the Issuer or agent for such Pari Passu
Indebtedness shall select such Pari Passu Indebtedness to be purchased on a pro rata basis based on the accreted value or principal amount of the Notes or such Pari Passu Indebtedness tendered. Upon completion of any such Asset Sale Offer, the
amount of Excess Proceeds shall be reset at zero. Pending the final application of any Net Proceeds pursuant to this Section 3.5, the holder of such Net Proceeds may apply such Net Proceeds temporarily to reduce Indebtedness outstanding
under a revolving credit facility or otherwise use such Net Proceeds in any manner not prohibited by the Indenture. 
 The
Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to
an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of the Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have
breached its obligations described in the Indenture by virtue thereof. 
 SECTION 3.6. Limitation on Liens. The
Issuer shall not, and shall not permit any Subsidiary Guarantor to, directly or indirectly, create, incur, assume or suffer to exist any Lien (except Permitted Liens) (each, an “Initial Lien”) that secures obligations under any
Indebtedness or any related guarantee, on any asset or property of the Issuer or any Subsidiary Guarantor, or any income or profits therefrom, unless: 
 (a) in the case of Liens securing Subordinated Indebtedness, the Notes and related Guarantees are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens; or

  
 77 

 (b) in all other cases, the Notes or the Guarantees are equally and ratably secured, except
that the foregoing shall not apply to Liens securing the Notes and the related Guarantees. 
 Any Lien created for the benefit of the Holders of
the Notes pursuant to this Section 3.6 shall provide by its terms that such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien that gave rise to the obligation to so
secure the Notes. 
 SECTION 3.7. Limitation on Guarantees of Indebtedness by Restricted Subsidiaries. 

(a) The Issuer shall not permit any of its Wholly-Owned Subsidiaries that are Restricted Subsidiaries (and non-Wholly-Owned Subsidiaries
if such non-Wholly-Owned Subsidiaries guarantee other capital markets debt securities of the Issuer or any Restricted Subsidiary or guarantee all or a portion of the New Credit Facilities), other than a Subsidiary Guarantor, to guarantee the payment
of any Indebtedness of the Issuer or any other Subsidiary Guarantor unless: 
 (A) such Restricted Subsidiary
within 30 days executes and delivers a supplemental indenture to this Indenture and joinder or supplement to the Registration Rights Agreement providing for a senior Guarantee by such Restricted Subsidiary, except that with respect to a guarantee of
Indebtedness of the Issuer or any Subsidiary Guarantor, if such Indebtedness is by its express terms subordinated in right of payment to the Notes or such Subsidiary Guarantor’s Guarantee, any such guarantee by such Restricted Subsidiary with
respect to such Indebtedness shall be subordinated in right of payment to such Guarantee substantially to the same extent as such Indebtedness is subordinated to the Notes or such Subsidiary Guarantor’s Guarantee; 

(B) such Restricted Subsidiary waives and shall not in any manner whatsoever claim or take the benefit or advantage of,
any rights of reimbursement, indemnity or subrogation or any other rights against the Issuer or any other Restricted Subsidiary as a result of any payment by such Restricted Subsidiary under its Guarantee until payment in full of Obligations under
this Indenture; and 
 (C) such Restricted Subsidiary shall deliver to the Trustee an Opinion of Counsel to the
effect that: 
  

	 	(1)	such Guarantee has been duly executed and authorized; and 

  

	 	(2)	such Guarantee constitutes a valid, binding and enforceable obligation of such Restricted Subsidiary, except insofar as enforcement thereof may be limited by
bankruptcy, insolvency or similar laws (including, without limitation, all laws relating to fraudulent transfers) and except insofar as enforcement thereof is subject to general principles of equity; 

  
 78 

 provided that this Section 3.7 shall not be applicable to any guarantee of any Restricted
Subsidiary that existed at the time such Person became a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary. 
 The Issuer may elect, in its sole discretion, to cause any Subsidiary that is not otherwise required to be a Subsidiary Guarantor to become a Subsidiary Guarantor, in which case, such Subsidiary shall
only be required to comply with the Sections 3.7(a)(C)(1) and (2) above. 
 SECTION 3.8. Transactions
with Affiliates. (a) The Issuer shall not, and shall not permit any of its Restricted Subsidiary to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or
assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an “Affiliate Transaction”)
involving aggregate payments or consideration in excess of $5.0 million, unless: 
 (1) such Affiliate
Transaction is on terms that are not materially less favorable to the Issuer or its relevant Restricted Subsidiaries than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated
Person on an arm’s-length basis; 
 (2) the Issuer delivers to the Trustee with respect to any Affiliate
Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess of $15.0 million, a resolution adopted by the majority of the board of directors of the Issuer approving such Affiliate Transaction
and set forth in an Officer’s Certificate certifying that such Affiliate Transaction complies with Section 3.8(a)(1) above; and 
 (3) the Issuer delivers to the Trustee with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate payments or consideration in excess of $50.0 million, a
written opinion of an Independent Financial Advisor stating that such Affiliate Transaction is fair to the Issuer or the Restricted Subsidiary, as applicable, from a financial point of view or complies with Section 3.8(a)(1) above.

 (b) The foregoing provisions shall not apply to the following: 

(1) transactions between or among the Issuer or any of its Restricted Subsidiaries; 

(2) Restricted Payments permitted by Section 3.3 and the definition of “Permitted Investments”;

 (3) the payment of reasonable and customary fees and compensation paid to, and indemnities and reimbursements
provided for the benefit of, former, current or future officers, directors, employees or consultants of the Issuer, any of its direct or indirect parent companies or any of its Restricted Subsidiaries, as determined in Good Faith by the Issuer;

  
 79 

 (4) transactions in which the Issuer or any of its Restricted Subsidiaries,
as the case may be, delivers to the Trustee a letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or stating that the terms are not materially
less favorable to the Issuer or its relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; 

(5) any agreement or arrangement as in effect as of the Issue Date, or any amendment thereto (so long as any such
amendment is not materially disadvantageous to the Holders when taken as a whole as compared to the applicable agreement as in effect on the Issue Date); 
 (6) the Refinancing Transactions and the payment of all fees and expenses related to the Refinancing Transactions, in each case as contemplated in the Offering Memorandum; 

(7) transactions with customers, clients, suppliers, or purchasers or sellers of goods or services, in each case in the
ordinary course of business and otherwise in compliance with the terms of the Indenture which are fair to the Issuer and its Restricted Subsidiaries, in the reasonable determination of the board of directors of the Issuer or the senior management
thereof, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party; 
 (8) if otherwise permitted under this Indenture, the issuance or transfer of Equity Interests (other than Disqualified Stock) to Affiliates of the Issuer and the granting of registration and other
customary rights in connection therewith or any contribution to the capital of direct or indirect parent companies, the Issuer or any Restricted Subsidiary; 
 (9) any customary transaction with a Securitization Subsidiary effected as part of a Qualified Securitization Financing; 

(10) payments or loans (or cancellation of loans) to employees or consultants of the Issuer, any of its direct or indirect
parent companies or any of its Restricted Subsidiaries and employment agreements, stock option plans, restricted stock plans, bonus programs and other similar arrangements with such employees or consultants which, in each case, are approved in Good
Faith by the Issuer and in accordance with applicable law; and 
 (11) transactions with a Person (other than an
Unrestricted Subsidiary of the Issuer) that is an Affiliate of the Issuer solely because the Issuer or a Restricted Subsidiary of the Issuer owns an equity interest in or otherwise controls such Person. 

  
 80 

 SECTION 3.9. Limitation on Activities of the License Subsidiaries. So long as a
License Subsidiary does not Guarantee the Notes, such License Subsidiary shall not (i) incur any Indebtedness or (ii) create, incur, assume or suffer to exist any Liens upon any of its property, assets, income or profits, whether now owned
or hereafter acquired, except Permitted Liens. 
 SECTION 3.10. Change of Control. (a) If a Change of Control
occurs, unless the Issuer has previously or concurrently mailed a redemption notice with respect to all the outstanding Notes pursuant to Section 5.7, the Issuer shall make an offer to purchase all of the Notes pursuant to the offer
described below (the “Change of Control Offer”) at a price in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest and Additional Interest,
if any, to the date of purchase, subject to the right of Holders of record of the Notes on the relevant record date to receive interest due on the relevant interest payment date; provided that if the Issuer or one of its Restricted
Subsidiaries has entered into an agreement or arrangement with respect to a transaction described in clause (3) of the definition of Change of Control on or before the first anniversary of the Issue Date but such transaction has not been
completed, then the obligation to make a Change of Control Offer pursuant to this Section 3.10(a) shall arise only upon the completion of such transaction (whether or not such transaction is completed on or before the first anniversary
of the Issue Date) and only if the Leverage Ratio specified in such clause (3) is exceeded upon the completion of such transaction. Within 30 days following any Change of Control (for the avoidance of doubt, in the circumstances described
in the proviso to the immediately preceding sentence, within 30 days following the completion of such transaction), the Issuer shall send notice of such Change of Control Offer by first-class mail, with a copy to the Trustee, the Agent and to each
Holder of Notes to the address of such Holder appearing in the security register or otherwise in accordance with the procedures of DTC, with the following information: 

(1) that a Change of Control Offer is being made pursuant to this Section 3.10, and that all Notes properly
tendered pursuant to such Change of Control Offer shall be accepted for payment by the Issuer; 
 (2) the
purchase price and the purchase date, which shall be no earlier than 30 days nor later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 

(3) that any Note not properly tendered shall remain outstanding and continue to accrue interest; 

(4) that unless the Issuer defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer shall cease to accrue interest on the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer shall be required to surrender
such Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of such Notes completed, to the paying agent specified in the notice at the address specified in the notice prior to the close of business on the third
Business Day preceding the Change of Control Payment Date; 

  
 81 

 (6) that Holders shall be entitled to withdraw their tendered Notes and
their election to require the Issuer to purchase such Note; provided that the paying agent receives, not later than the expiration time of the Change of Control Offer, a facsimile transmission or letter setting forth the name of the Holder of
the Notes, the principal amount of Notes tendered for purchase and a statement that such Holder is withdrawing its tendered Notes and its election to have such Notes purchased; 

(7) that if the Issuer is redeeming less than all of the Notes, the Holders of the remaining Notes shall be issued new
Notes, and such new Notes shall be equal in principal amount to the unpurchased portion of the Notes surrendered. The unpurchased portion of the Notes must be equal to $2,000 or an integral multiple of $1,000 in excess thereof; 

(8) if such notice is delivered prior to the occurrence of a Change of Control (for the avoidance of doubt, in the
circumstances described in the proviso to the first sentence of this paragraph, prior to the completion of such transaction) stating that the Change of Control Offer is conditional on the occurrence of such Change of Control; and 

(9) the other instructions, as determined by us, consistent with the covenant described hereunder, that a Holder must
follow. 
 (b) On the Change of Control Payment Date, the Issuer shall, to the extent permitted by law, 

(1) accept for payment all Notes issued by it or portions thereof properly tendered pursuant to the Change of Control
Offer; 
 (2) deposit with the paying agent an amount equal to the aggregate Change of Control Payment in respect
of all Notes or portions thereof so tendered; and 
 (3) deliver, or cause to be delivered, to the Agent for
cancellation the Notes so accepted together with an Officer’s Certificate to the Agent stating that such Notes or portions thereof have been tendered to and purchased by the Issuer. 

(c) The Issuer shall not be required to make a Change of Control Offer following a Change of Control if a third party makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under such
Change of Control Offer. 
 (d) Notwithstanding anything to the contrary in this Section 3.10, a Change of Control
Offer may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 

(e) The Issuer shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws or regulations are applicable in connection with the repurchase by the Issuer of Notes pursuant to a Change of Control Offer. To the extent that the provisions of any securities laws or regulations conflict with
provisions of this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Indenture by virtue thereof. 

  
 82 

 SECTION 3.11. Reports and Other Information. 

(a) Notwithstanding that the Issuer may not be subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act or
otherwise report on an annual and quarterly basis on forms provided for such annual and quarterly reporting pursuant to rules and regulations promulgated by the SEC, the Issuer shall file with the SEC within 15 days after the dates set forth below:

 (1) within 90 days after the end of each Fiscal Year, all financial information that would be required to be
contained in an annual report on Form 10-K, or any successor or comparable form, filed with the SEC, including a “Management’s discussion and analysis of financial condition and results of operations” and a report on the annual
financial statements by the Issuer’s independent registered public accounting firm; 
 (2) within 45 days
after the end of each of the first three fiscal quarters of each Fiscal Year, all financial information that would be required to be contained in a quarterly report on Form 10-Q, or any successor or comparable form, filed with the SEC; 

(3) all current reports that would be required to be filed with the SEC on Form 8-K, or any successor or comparable form,
if the Issuer were required to file such reports; and 
 (4) any other information, documents and other reports
which the Issuer would be required to file with the SEC if it were subject to Section 13 or 15(d) of the Exchange Act; 
 in each case, in
a manner that complies in all material respects with the requirements specified in such form. Notwithstanding the foregoing, the Issuer shall not be so obligated to file such reports with the SEC if the SEC does not permit such filing, so long as
the Issuer makes available such information to prospective purchasers of Notes, in addition to providing such information to the Trustee and the Holders of the Notes, in each case, at the Issuer’s expense and by the applicable date the Issuer
would be required to file such information pursuant to the immediately preceding sentence. To the extent any such information is not so filed or furnished, as applicable, within the time periods specified above and such information is subsequently
filed or furnished, as applicable, the Issuer shall be deemed to have satisfied its obligations with respect thereto at such time and any Default with respect thereto shall be deemed to have been cured; provided that such cure shall not
otherwise affect the rights of the Holders under Article VI if Holders of at least 25% in principal amount of the then total outstanding Notes have declared the principal, premium, if any, interest and any other monetary obligations on all
the then outstanding Notes to be due and payable immediately and such declaration shall not have been rescinded or cancelled prior to such cure. In addition, to the extent not satisfied by the foregoing, the Issuer shall, for so long as any Notes
are outstanding, furnish to Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

  
 83 

 (b) Substantially concurrently with the furnishing or making such information available to
the Trustee pursuant to the immediately preceding paragraph, the Issuer shall also post copies of such information required by the immediately preceding paragraph on a website (which may be nonpublic and may be maintained by the Issuer or a third
party) to which access shall be given to holders, prospective investors in the Notes (which prospective investors shall be limited to “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act or non-U.S.
persons (as defined in Regulation S under the Securities Act) that certify their status as such to the reasonable satisfaction of the Issuer), and securities analysts and market making financial institutions that are reasonably satisfactory to the
Issuer. The Trustee shall have no responsibility for determining whether or not such information has been posted. The Issuer shall hold quarterly conference calls that are publicly accessible after the Issuer’s financial statements for the
prior fiscal period have been made available, beginning when financial statements for the year ended December 31, 2010 have been made available pursuant to this covenant; provided that such conference calls shall be held no later than
five Business Days after the date that such financial statements are required to be made available. No fewer than three Business Days prior to the date of the conference call required to be held in accordance with the preceding sentence, the Issuer
shall issue a press release to the appropriate U.S. wire services announcing the time and the date of such conference call and directing the beneficial owners of, and prospective investors in, the Notes and securities analysts to contact an
individual at the Issuer (for whom contact information shall be provided in such press release) to obtain information on how to access such conference call. 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 Issuer’s compliance with any of its covenants
hereunder (as to which the Trustee is entitled to rely conclusively on Officer’s Certificates). 
 (c) In the event that
any direct or indirect parent company of the Issuer becomes a guarantor of the Notes, the Issuer shall be deemed to have satisfied the requirements of this section if such parent files and provides reports, documents and information of the types
otherwise so required, in each case within the applicable time periods, and the Issuer is not required to file such reports, documents and information separately under the applicable rules and regulations of the SEC (after giving effect to any
exemptive relief) because of the filings by such parent; provided that such financial statements are accompanied by consolidating financial information for such parent, the Issuer, the Subsidiary Guarantors and the Non-Guarantor Subsidiaries
in the manner prescribed by the SEC to the extent such financial information would be required by the SEC. 
 (d)
Notwithstanding the foregoing, such requirements shall be deemed satisfied prior to the commencement of the offering of the Exchange Notes or the effectiveness of the Shelf Registration Statement by the filing with the SEC of any registration
statement relating to the exchange offer pursuant to the Registration Rights Agreement or other filing, and any amendments thereto, with such financial information that satisfies Regulation S-X of the Securities Act. 

  
 84 

 SECTION 3.12. Maintenance of Office or Agency. 

The Issuer shall maintain an office or agency where the Notes may be presented or surrendered for payment, where, if
applicable, the Notes may be surrendered for registration of transfer or exchange. The office of the Agent located at 60 Wall Street, 27th Floor, MS: NYC60-27, New York, NY 10005, Attn: Corporate Team, Citadel Broadcasting Corporation, shall be such office
or agency of the Issuer, unless the Issuer shall designate and maintain some other office or agency for one or more of such purposes. The Issuer shall give prompt written notice to the Agent of any change in the location of any such office or
agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Agent with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust
office of the Agent, and the Issuer hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Issuer may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind any
such designation. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. 

SECTION 3.13. Corporate Existence. Except as otherwise provided in this Article III, Article IV and
Section 10.2(b), the Issuer shall do or cause to be done all things necessary to preserve and keep in full force and effect its respective corporate existence and the corporate, partnership, limited liability company or other existence
of each Restricted Subsidiary and the rights (charter and statutory), licenses and franchises of the Issuer and each Restricted Subsidiary; provided, however, that the Issuer shall not be required to preserve any such right, license or
franchise or the corporate, partnership, limited liability company or other existence of any Restricted Subsidiary if the respective board of directors or, with respect to a Restricted Subsidiary that is not a Significant Subsidiary (or group of
Restricted Subsidiaries that taken together would not be a Significant Subsidiary), senior management of the Issuer determines that the preservation thereof is no longer desirable in the conduct of the business of the Issuer and each of its
Restricted Subsidiaries, taken as a whole, and that the loss thereof is not, and shall not be, disadvantageous in any material respect to the Holders. 
 SECTION 3.14. Payment of Taxes. The Issuer shall pay or discharge or cause to be paid or discharged, before the same shall become delinquent, all material taxes, assessments and governmental
charges levied or imposed upon the Issuer or any Subsidiary; provided, however, that the Issuer shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim the amount, applicability or
validity of which is being contested in good faith by appropriate proceedings and for which appropriate reserves, if necessary (in the good faith judgment of management of the Issuer), are being maintained in accordance with GAAP or where the
failure to effect such payment shall not be disadvantageous to the Holders. 
 SECTION 3.15. Payments for Consent.
Neither the Issuer nor any of its Restricted Subsidiaries shall, directly or indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or
provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders that are “qualified institutional buyers” within the meaning of Rule 144A of the Securities Act, who, upon request,
confirm that they are “qualified institutional buyers,” consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or amendment. 

  
 85 

 SECTION 3.16. Compliance Certificate. The Issuer shall deliver to the Trustee
within 120 days after the end of each Fiscal Year of the Issuer an Officer’s Certificate stating that in the course of the performance by the signers of their duties as Officers of the Issuer they would normally have knowledge of any
Default or Event of Default and whether or not the signers know of any Default or Event of Default that occurred during the previous Fiscal Year; provided that no such Officer’s Certificate shall be required for any Fiscal Year ended
prior to the Issue Date. If they do, the certificate shall describe the Default or Event of Default, its status and the action the Issuer is taking or proposes to take with respect thereto. The Issuer also shall comply with TIA
§ 314(a)(4). 
 SECTION 3.17. Further Instruments and Acts. Upon request of the Trustee, the Issuer shall
execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
 SECTION 3.18. Limitation on Lines of Business. The Issuer shall not, and shall not permit any Restricted Subsidiary to, engage in any business other than a Similar Business. 

SECTION 3.19. Statement by Officers as to Default. The Issuer shall deliver to the Trustee with a copy to the Agent, as soon
as possible and in any event within 10 Business Days after the Issuer becomes aware of the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officer’s
Certificate setting forth the details of such Event of Default or Default, its status and the actions which the Issuer is taking or proposes to take with respect thereto. 
 SECTION 3.20. Suspension of Certain Covenants. Following the first day (a) the Notes have an Investment Grade Rating from both of the Rating Agencies and (b) no Default has occurred
and is continuing under this Indenture, the Issuer and its Restricted Subsidiaries shall not be subject to Sections 3.2, 3.3, 3.4, 3.5, 3.8 and 4.1(a)(4) (collectively, the “Suspended
Covenants”). 
 If at any time the Notes’ credit rating is downgraded from an Investment Grade Rating by any
Rating Agency or if a Default or Event of Default occurs and is continuing, then the Suspended Covenants shall thereafter be reinstated as if such covenants had never been suspended (the “Reinstatement Date”) and be applicable
pursuant to the terms of the Indenture (including in connection with performing any calculation or assessment to determine compliance with the terms of the Indenture), unless and until the Notes subsequently attain an Investment Grade Rating and no
Default or Event of Default is in existence (in which event the Suspended Covenants shall no longer be in effect for such time that the Notes maintain an Investment Grade Rating and no Default or Event of Default is in existence); provided,
however, that no Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the Registration Rights Agreement, the Notes or the Guarantees with respect to the Suspended Covenants based on, and none of the
Issuer or any of its Subsidiaries shall bear any liability for, any actions taken or events occurring during the Suspension Period (as defined below), or any actions taken at any time pursuant to any contractual obligation arising prior to the
Reinstatement Date, regardless of whether such actions or events would have been permitted if the applicable Suspended Covenants remained in effect during such period. The period of time between the date of suspension of the covenants and the
Reinstatement Date is referred to as the “Suspension Period.” 

  
 86 

 On the Reinstatement Date, all Indebtedness incurred during the Suspension Period shall be
classified to have been incurred pursuant to Section 3.2(a) or one of the clauses of Section 3.2(b) (to the extent such Indebtedness would be permitted to be incurred thereunder as of the Reinstatement Date and after giving
effect to Indebtedness incurred prior to the Suspension Period and outstanding on the Reinstatement Date). To the extent such Indebtedness would not be so permitted to be incurred pursuant Section 3.2(a) or (b), such Indebtedness
shall be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under Section 3.2(b)(3). Calculations made after the Reinstatement Date of the amount available to be made as Restricted Payments under
Section 3.3 shall be made as though Section 3.3 had been in effect since the Issue Date and throughout the Suspension Period; provided that no breach of such covenant shall be deemed to have occurred as a result of any
Restricted Payments made during any Suspension Period. Accordingly, Restricted Payments made during the Suspension Period shall reduce the amount available to be made as Restricted Payments under Section 3.3(a). 

During any period when the Suspended Covenants are suspended, the board of directors of the Issuer may not designate any of the
Issuer’s Subsidiaries as Unrestricted Subsidiaries pursuant to this Indenture. 
 The Issuer shall provide an
Officer’s Certificate to the Trustee indicating the occurrence of any Suspension Period or Reinstatement Date. The Trustee shall have no obligation to (i) independently determine or verify if such events have occurred, (ii) make any
determination regarding the impact of actions taken during the Suspension Period on the Issuer’s future compliance with its covenants or (iii) notify the Holders of any Suspension Period or Reinstatement Date. 

ARTICLE IV 

SUCCESSOR COMPANY 
 SECTION 4.1. Merger, Consolidation or Sale of All or Substantially All Assets. 
 (a) The Issuer shall not consolidate or merge with or into or wind up into (whether or not the Issuer is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or
substantially all of its properties or assets, in one or more related transactions, to any Person unless: 
 (1)
the Issuer is the surviving Person or the Person formed by or surviving any such consolidation or merger (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a Person
organized or existing under the laws of the jurisdiction of organization of the Issuer or the laws of the United States, any state thereof, the District of Columbia or any territory thereof (such Person, as the case may be, being herein called the
“Successor Company”); provided that in the case where the surviving Person is not a corporation, a co-obligor of the Notes is a corporation; 

  
 87 

 (2) the Successor Company, if other than the Issuer, expressly assumes all
the obligations of the Issuer under this Indenture and the Notes pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 

(3) immediately after such transaction, no Default exists; 

(4) immediately after giving pro forma effect to such transaction and any related financing transactions, as if such
transactions had occurred at the beginning of the applicable four-quarter period, 
  

	 	(A)	the Successor Company or the Issuer would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Leverage Ratio test set forth in
Section 3.2(a) or 

  

	 	(B)	the Leverage Ratio for the Successor Company and its Restricted Subsidiaries would be less than the Leverage Ratio for the Issuer and its Restricted Subsidiaries
immediately prior to such transaction; 

 (5) each Subsidiary Guarantor, unless it is the other
party to the transactions described above, in which case Section 10.2(b)(ii) shall apply, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person’s obligations under this Indenture, the Notes and
the Registration Rights Agreement; and 
 (6) the Issuer shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, with a copy to the Agent, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture; 

(b) The Successor Company shall succeed to, and be substituted for the Issuer, as the case may be, under the Indenture, the Registration
Rights Agreement, the Guarantees and the Notes, as applicable. 
 (c) Notwithstanding Sections 4.1(a)(3) and
(a)(4), 
  

	 	(a)	any Non-Guarantor Subsidiary may consolidate with or merge into or transfer all or part of its properties and assets to the Issuer or another Restricted Subsidiary,

  

	 	(b)	the Issuer or any Subsidiary Guarantor may consolidate with, merge into or transfer all or part of its properties and assets to the Issuer or a Subsidiary Guarantor, as
applicable, and 

  
 88 

  

	 	(c)	the Issuer may consolidate or merge with an Affiliate of the Issuer, as the case may be, solely for the purpose of reincorporating the Issuer in any state of the United
States, the District of Columbia or any territory thereof. 

 (d) For purposes of this Section 4.1,
the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and assets of one or more Subsidiaries of the Issuer, which properties and assets, if held by the Issuer instead of such
Subsidiaries, would constitute all or substantially all of the properties and assets of the Issuer on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Issuer. The predecessor
company shall be released from its obligations under the Indenture and the Successor Company shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture, but, in the case of a lease of all or
substantially all its assets, the predecessor shall not be released from the obligation to pay the principal of and interest on the Notes. 
 ARTICLE V 
 REDEMPTION OF SECURITIES 

SECTION 5.1. Notices to Trustee. 
 If the Issuer elects to redeem Notes pursuant to the optional redemption provisions of Section 5.7 hereof, it must furnish to the Trustee with a copy to the Agent, at least 30 days but not
more than 60 days before a redemption date, an Officer’s Certificate setting forth: 
 (1) the clause of
this Indenture pursuant to which the redemption shall occur; 
 (2) the redemption date; 

(3) the principal amount of Notes to be redeemed; and 

(4) the redemption price. 
 Any redemption referenced in such Officer’s Certificate may be cancelled by the Issuer at any time prior to notice of redemption being mailed to any Holder and thereafter shall be null and void.

 SECTION 5.2. Selection of Notes to Be Redeemed or Purchased. 

If the Issuer is redeeming or purchasing less than all of the Notes issued by it at any time, pursuant to Section 5.7 or
purchased in an Asset Sale Offer or a Change of Control Offer pursuant to Section 3.10, the Trustee or the applicable registrar shall select the Notes to be redeemed (a) if the Notes are listed on any national securities exchange,
in compliance with the requirements of the principal national securities exchange on which the Notes are listed, (b) on a pro rata basis (to the extent practicable) or (c) by lot or such other similar method in accordance with the
procedures of DTC. 

  
 89 

 No Notes of $2,000 or less can be redeemed in part. In the event of partial redemption, the
particular Notes to be redeemed or purchased shall be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption or purchase date by the Trustee or the applicable registrar from the outstanding Notes
not previously called for redemption or purchase. 
 The Trustee or the applicable registrar shall promptly notify the Issuer in
writing of the Notes selected for redemption or purchase and, in the case of any Note selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Notes and portions of Notes selected shall be in amounts of
$2,000 or an integral multiple of $1,000 in excess thereof, except that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed
or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption or purchase also apply to portions of Notes called for redemption or purchase. 

SECTION 5.3. Notice of Redemption. Upon no less than 10 days’ notice to the Trustee and the Agent (unless otherwise
agreed with the Trustee and Agent) and at least 30 days but not more than 60 days before a redemption date, the Issuer shall mail or cause to be mailed, by first class mail, postage prepaid, a notice of redemption to each Holder whose Notes are to
be redeemed at its registered address or otherwise in accordance with the procedures of DTC, 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 and discharge of this Indenture pursuant to Articles VIII or XII hereof or in connection with a redemption pursuant to Section 5.7(c) that is conditioned upon the completion of a transaction constituting a
Change of Control Trigger Event. 
 The notice shall identify the Notes (including the CUSIP number) to be redeemed and shall
state: 
 (1) the redemption date; 

(2) the redemption price; 
 (3) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon surrender of such Note, a new Note or Notes in principal
amount equal to the unredeemed portion shall be issued upon cancellation of the original Note; 
 (4) the name
and address of the Paying Agent; 
 (5) that Notes called for redemption must be surrendered to the Paying Agent
to collect the redemption price; 
 (6) that, unless the Issuer defaults in making such redemption payment,
interest on Notes called for redemption ceases to accrue on and after the redemption date; 

  
 90 

 (7) the paragraph of the Notes and/or Section of this Indenture pursuant to
which the Notes called for redemption are being redeemed; and 
 (8) 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 Notes. 
 At the Issuer’s
written request, the Agent shall give the notice of redemption in the Issuer’s name and at its expense; provided, however, that the Issuer has delivered to the Agent, at least 10 days prior to the redemption date (or such shorter
period as the Agent shall agree), an Officer’s Certificate requesting that the Agent give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

SECTION 5.4. Effect of Notice of Redemption. Once notice of redemption is mailed in accordance with Section 5.3
hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. Any redemption or notice of redemption may, at the Issuer’s discretion, be subject to one or more conditions precedent,
including, but not limited to, completion of an Equity Offering, other offering or other corporate transaction or event. Notice of any redemption in respect of an Equity Offering may be given prior to the completion thereof. 

SECTION 5.5. Deposit of Redemption or Purchase Price. Prior to 11:00 a.m. (New York City time) on the redemption or purchase
date, the Issuer shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued interest and Additional Interest, if any, on, all Notes to be redeemed or purchased on that date. The
Trustee or the Paying Agent shall promptly return to the Issuer any money deposited with the Trustee or the Paying Agent by the Issuer in excess of the amounts necessary to pay the redemption or purchase price of, and accrued interest and Additional
Interest, if any, on, all Notes to be redeemed or purchased. 
 If the Issuer complies with the provisions of the preceding
paragraph, on and after the redemption or purchase date, interest shall cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior
to the related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid
upon surrender for redemption or purchase because of the failure of the Issuer to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the
extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 3.1 hereof. 
 SECTION 5.6. Notes Redeemed or Purchased in Part. Upon surrender of a Note that is redeemed or purchased in part, the Issuer shall issue and, upon receipt of an Issuer Order, the Agent shall
authenticate for the Holder at the expense of the Issuer a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered; provided, that each such new Note shall be in a principal amount of $2,000 or
integral multiple of $1,000 in excess thereof. 

  
 91 

 SECTION 5.7. Optional Redemption. 

(a) At any time prior to December 15, 2014, the Issuer may redeem all or a part of the Notes, upon notice as provided in
Section 5.3, at a redemption price equal to 100% of the principal amount of Notes redeemed, plus the Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any, to, but excluding the date of redemption (the
“Redemption Date”), subject to the rights of Holders of record on the relevant record date to receive interest due on the relevant interest payment date. 
 (b) Prior to December 15, 2013, the Issuer may, at its option, upon notice as provided in Section 5.3, on one or more occasions redeem up to 35% of the aggregate principal amount of the
Notes issued under this Indenture at a redemption price equal to 107.75% of the aggregate principal amount of the Notes, plus accrued and unpaid interest thereon and Additional Interest, if any, to, but excluding the applicable Redemption Date,
subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date, with the net cash proceeds of one or more Equity Offerings; provided that (a) at least 65% of the sum of
the aggregate principal amount of Notes originally issued under this Indenture on the Issue Date and any Additional Notes that are issued under the Indenture after the Issue Date remains outstanding immediately after the occurrence of each such
redemption and (b) each such redemption occurs within 90 days of the date of closing of each such Equity Offering. The Trustee shall select the Notes to be purchased in the manner described under Sections 5.1 through 5.6.

 (c) At any time on or prior to the date that is 180 days after the Issue Date, if a Change of Control Triggering Event occurs
(including, without limitation, for the avoidance of doubt, if the Issuer enters into an agreement or arrangement, whether or not such transaction is completed on or before such date), the Issuer may redeem all or a part of the Notes upon notice as
provided in Section 5.3, at a redemption price equal to 107.75% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest thereon and Additional Interest, if any, to, but excluding, the applicable
Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date; provided that the Issuer shall be permitted to repurchase Notes pursuant to a notice of
redemption issued in accordance with this paragraph only if the transaction constituting a Change of Control Triggering Event has been completed or is completed substantially concurrently with such repurchase. Any such redemption or notice of
redemption may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of any transaction constituting a Change of Control Triggering Event. 

(d) Except pursuant to clause (a), (b) or (c) of this Section 5.7, the Notes shall not be redeemable at the
Company’s option prior to December 15, 2014. 
 (e) On and after December 15, 2014 the Issuer may redeem the
Notes, in whole or in part, upon notice as provided in Section 5.3, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest
thereon and Additional Interest, if any, to, but excluding the applicable Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the
twelve-month period beginning on December 15 of each of the years indicated in the table below: 
  

					
	 Period
	  	Percentage	 
		
	 2014
	  	 	103.875	% 
	 2015
	  	 	101.938	% 
	 2016 and thereafter
	  	 	100.000	% 

  
 92 

 (f) Unless the Issuer defaults in the payment of the redemption price, interest shall cease
to accrue on the Notes or portions thereof called for redemption on the applicable Redemption Date. 
 (g) Any redemption
pursuant to this Section 5.7 shall be made pursuant to the provisions of Sections 5.1 through 5.6. 

SECTION 5.8. Mandatory Redemption. Except as set forth in Section 3.5 and Section 3.10 hereof,
the Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 
 ARTICLE VI

 DEFAULTS AND REMEDIES 
 SECTION 6.1. Events of Default. (a) Each of the following is an “Event of Default”: 

(1) default in payment when due and payable, upon redemption, acceleration or otherwise, of principal of, or premium, if
any, on the Notes; 
 (2) default for 30 days or more in the payment when due of interest or Additional Interest
on or with respect to the Notes; 
 (3) failure by the Issuer or any Subsidiary Guarantor to comply with its
obligations under Section 4.1 and Section 10.2(b); 
 (4) failure by the Issuer or the
Subsidiary Guarantors to comply for 30 days with any of their obligations under Section 3.5 and Section 3.10 (in each case, other than a failure to purchase Notes which constitutes an Event of Default under
Section 6.1(a)(1) and Section 6.1(a)(2)); 
 (5) failure by the Issuer or any Subsidiary
Guarantor for 60 days after receipt of written notice given by the Trustee or the Holders of not less than 25% in principal amount of the outstanding Notes to comply with any of its obligations, covenants or agreements (other than a default referred
to in Section 6.1(a)(1) and Section 6.1(a)(2)) contained in this Indenture or the Notes; 

(6) default under any mortgage, indenture or instrument under which there is issued or by which there is secured or
evidenced any Indebtedness for money borrowed by the Issuer or any of its Restricted Subsidiaries or the payment of which is guaranteed by the Issuer or any of its Restricted Subsidiaries, other than Indebtedness owed to the Issuer or a Restricted
Subsidiary, whether such Indebtedness or guarantee now exists or is created after the issuance of the Notes, if both: 
  

	 	(A)	(i) such default either results from the failure to pay any principal of such Indebtedness at its stated final maturity (after giving effect to any applicable grace
periods) or (ii) relates to an obligation other than the obligation to pay principal of any such Indebtedness at its stated final maturity and results in the holder or holders of such Indebtedness causing such Indebtedness to become due prior
to its stated maturity; and 

  
 93 

  

	 	(B)	the principal amount of such Indebtedness, together with the principal amount of any other such Indebtedness in default for failure to pay principal at its stated final
maturity (after giving effect to any applicable grace periods), or the maturity of which has been so accelerated, aggregate $35.0 million or more at any one time outstanding; 

(7) failure by the Issuer or any Significant Subsidiary (or group of Restricted Subsidiaries that together (determined as
of the most recent consolidated financial statements of the Issuer for a fiscal period end provided as required under Section 3.11) would constitute a Significant Subsidiary) to pay final judgments aggregating in excess of $35.0 million
other than any judgments covered by indemnities provided by, or insurance policies issued by, reputable and creditworthy companies, which final judgments remain unpaid, undischarged and unstayed for a period of more than 60 days after such judgment
becomes final, and in the event such judgment is covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which is not promptly stayed; 

(8) the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (determined as of the
most recent consolidated financial statements of the Issuer for a fiscal period end provided as required under Section 3.11), would constitute a Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law: 

 

	 	(A)	commences a voluntary case or proceeding; 

  

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

 

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

 

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

  

	 	(E)	consents to or acquiesces in the institution of a bankruptcy or an insolvency proceeding against it; or 

  
 94 

  

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

(9) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

 

	 	(A)	is for relief against the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (determined as of the most recent consolidated
financial statements of the Issuer for a fiscal period end provided as required under Section 3.11), would constitute a Significant Subsidiary, in an involuntary case; 

 

	 	(B)	appoints a custodian of the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (determined as of the most recent consolidated
financial statements of the Issuer for a fiscal period end provided as required under Section 3.11), would constitute a Significant Subsidiary, for substantially all of its property; or 

 

	 	(C)	orders the winding up or liquidation of the Issuer or any Significant Subsidiary (or any group of Restricted Subsidiaries that together (determined as of the most
recent consolidated financial statements of the Issuer for a fiscal period end provided as required under Section 3.11), would constitute a Significant Subsidiary; or 

 

	 	(D)	or any similar relief is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for 60 consecutive days; and

 (10) the Guarantee of any Significant Subsidiary (or group of Subsidiaries that together
(determined as of the most recent consolidated financial statements of the Issuer for a fiscal period end provided as required under Section 3.11) would constitute a Significant Subsidiary) shall for any reason cease to be in full force
and effect or be declared null and void or any responsible officer of any Subsidiary Guarantor that is a Significant Subsidiary (or the responsible officers of any group of Restricted Subsidiaries that, taken together (determined as of the most
recent consolidated financial statements of the Issuer for a fiscal period end provided as required under Section 3.11) would constitute a Significant Subsidiary), as the case may be, denies that it has any further liability under its or
their Guarantee(s) or gives notice to such effect, other than by reason of the termination of this Indenture or the release of any such Guarantee in accordance with this Indenture. 

SECTION 6.2. Acceleration. If any Event of Default (other than an Event of Default described in Section 6.1(a)(8)
or Section 6.1(a)(9)) occurs and is continuing under the Indenture, the Trustee by notice to the Issuer, or the Holders of at least 25% in principal amount of the then total outstanding Notes by notice to the Issuer and the Trustee,
may, and the Trustee at the request of such Holders shall, declare the principal of, premium, if any, and accrued and unpaid interest (including Additional Interest), if any, and any other monetary obligations on all the then outstanding Notes to be
due and payable immediately. Upon such a declaration, such principal, premium and accrued and unpaid interest (including Additional Interest) and any other monetary obligations on all the then outstanding Notes shall be due and payable immediately.

  
 95 

 If an Event of Default described in Section 6.1(a)(8) or
Section 6.1(a)(9) occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest (including Additional Interest) and any other monetary obligations on all the Notes shall become and be immediately due and
payable without any declaration or other act or notice on the part of the Trustee or any Holders. 
 In the event of any Event
of Default specified in Section 6.1(a)(6), such Event of Default and all consequences thereof (excluding any resulting payment default, other than as a result of acceleration of the Notes) shall be annulled, waived and rescinded,
automatically and without any action by the Trustee or the Holders, if within 30 days after such Event of Default arose: 
 (x) the Indebtedness or guarantee that is the basis for such Event of Default has been discharged; or 
 (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default; or 

(z) if the default that is the basis for such Event of Default has been cured. 

SECTION 6.3. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy by
proceeding at law or in equity to collect the payment of principal of (or premium, if any) or interest (including Additional Interest) on the Notes or to enforce the performance of any provision of the Notes, this Indenture or the Guarantees.

 The Trustee may maintain a proceeding even if it does not possess any of the Notes 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. 
 SECTION 6.4. Waiver of Past Defaults. The
Holders of a majority in principal amount of the then outstanding Notes by notice to the Trustee (with a copy to the Issuer, but the applicable waiver or rescission shall be effective when the notice is given to the Trustee) may, on behalf of the
Holders of all the Notes, (a) waive, by their consent (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), an existing Default and its consequences under this
Indenture except (i) a continuing Default in the payment of the principal of, or premium, if any, or interest (including Additional Interest) on a Note held by a non-consenting Holder or (ii) a Default in respect of a provision that under
Section 9.2 cannot be amended without the consent of each Holder affected and (b) rescind any acceleration and its consequences with respect to the Notes provided such rescission would not conflict with any judgment of a court
of competent jurisdiction. When a Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any consequent right. 

  
 96 

 SECTION 6.5. Control by Majority. The Holders of a majority in principal amount
of the outstanding Notes 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, the Notes or the Guarantees or, subject to Sections 7.1 and 7.2, that the Trustee 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 such action hereunder, the Trustee shall be entitled to indemnification
reasonably satisfactory to it against all losses and expenses caused by taking or not taking such action. 
 SECTION
6.6. Limitation on Suits. Subject to Section 6.7, a Holder may not pursue any remedy with respect to this Indenture or the Notes unless: 
 (1) such Holder has previously given the Trustee notice stating that an Event of Default is continuing; 
 (2) Holders of at least 25% in principal amount of the total outstanding Notes have requested the Trustee to pursue the remedy; 

(3) Holders of the Notes have offered and, if requested, provide to the Trustee indemnity or security reasonably
satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee has not complied with such
request within 60 days after the receipt thereof and the offer of security or indemnity; and 
 (5) Holders
of a majority in principal amount of the total outstanding Notes have not given the Trustee a direction inconsistent with such request within 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 (it being understood that the Trustee does not have an affirmative
duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 
 SECTION
6.7. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture (including, without limitation, Section 6.6), the right of any Holder to receive payment of principal of, premium (if any), or
interest (including Additional Interest) on the Notes held by such Holder, on or after the respective due dates expressed or provided for in the Notes, 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 6.8. Collection Suit by Trustee. If an
Event of Default specified in Section 6.1(a)(1) or Section 6.1(a)(2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer 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 7.7. 

  
 97 

 SECTION 6.9. 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 (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and
the Holders allowed in any judicial proceedings relative to the Issuer, its Subsidiaries or its or their respective creditors or properties and, unless prohibited by law or applicable regulations, may be entitled and empowered to participate as a
member of any official committee of creditors appointed in such matter and 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 reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.7. 
 No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 6.10. Priorities. (a) 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 or Agent for amounts due to it under Section 7.7; 

SECOND: to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest (including Additional Interest), respectively; and 

THIRD: to the Issuer, or to the extent the Trustee or Agent collects any amount for any Subsidiary Guarantor, to such
Subsidiary Guarantor. 
 (b) 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 Issuer shall mail to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

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 the Issuer, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10% in outstanding principal amount of the Notes. 

  
 98 

 ARTICLE VII 
 TRUSTEE 
 SECTION 7.1. 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; provided that the Trustee shall be under no obligation to exercise any of the rights or powers under this Indenture, the Notes or the Guarantees at the request or direction of any of the
Holders unless the Holders have offered the Trustee indemnity or security reasonably satisfactory to the Trustee against any loss, liability or expense. 
 (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, opinions or orders furnished to the Trustee and conforming to the requirements of this Indenture, the Notes or the Guarantees, as applicable. However, in the case of any such
certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such certificates and opinions to determine whether or not they conform to the requirements of this
Indenture, the Notes or the Guarantees, as the case may be (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 
 (c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own bad faith or willful misconduct, except that: 

(1) this paragraph does not limit the effect of paragraph (b) of this Section 7.1; 

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

  
 99 

 (4) No provision of this Indenture, the Notes or the Guarantees 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 thereunder 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. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this
Section 7.1. 
 (e) The Trustee shall not be liable for interest on any money received by it except as the Trustee
may agree in writing with the Issuer. 
 (f) Money held in trust by the Trustee need not be segregated from other funds except to
the extent required by law. 
 (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 7.1 and to the provisions of the TIA. 
 (h) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Issuer shall be sufficient if signed by one Officer of the Issuer. 

SECTION 7.2. Rights of Trustee. Subject to Section 7.1: 

(a) The Trustee may conclusively rely on and shall be fully protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document (whether in its original or facsimile form) reasonably 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. The Trustee shall receive and retain financial reports and statements of the Issuer as provided herein, but shall have no duty to review or analyze such
reports or statements to determine compliance with covenants or other obligations of the Issuer. 
 (b) Before the Trustee acts
or refrains from acting, it may require an Officer’s Certificate and/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 an Officer’s Certificate or Opinion of
Counsel. 
 (c) The Trustee may execute any of the trusts and powers hereunder or perform any duties hereunder either directly
by or through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent or attorney appointed with due care by it hereunder. 
 (d) In the absence of willful misconduct or negligence, 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, conferred upon it by this Indenture. 
 (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, the Notes or the Guarantees shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder or
under the Notes or the Guarantees in good faith and in accordance with the advice or opinion of such counsel. 

  
 100

 (f) The Trustee shall not be deemed to have notice of any Default or Event of Default or
whether any entity or group of entities constitutes a Significant Subsidiary unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default or of any such Significant
Subsidiary is received by the Trustee at the corporate trust office of the Trustee specified in Section 13.2, and such notice references the Notes and this Indenture. 

(g) 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 to each Agent, custodian and other Person employed to act hereunder. 

(h) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture, the Notes or the
Guarantees at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless the Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses
and liabilities which may be incurred therein or thereby. 
 (i) The Trustee shall not be deemed to have knowledge of any fact
or matter unless such fact or matter is known to a Trust Officer of the Trustee. 
 (j) Whenever in the administration of this
Indenture, the Notes or the Guarantees the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder or thereunder, the Trustee (unless other evidence be herein specifically
prescribed) may, in the absence of negligence, bad faith or willful misconduct on its part, conclusively rely upon an Officer’s Certificate. 
 (k) In no event shall the Trustee be responsible or liable for any special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit),
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 (l) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, report, notice, request, direction, consent, order,
bond, debenture, coupon or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine, during business hours and upon reasonable notice, the books, records and premises of the Issuer and the Restricted Subsidiaries, personally or by agent or attorney, and shall incur no liability or
additional liability of any kind to Holders of such inquiry or investigation. 
 (m) The Trustee shall not be required to give
any bond or surety in respect of the performance of its powers and duties hereunder. 

  
 101

 (n) The Trustee may request that the Issuer deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture or the Notes. 
 SECTION 7.3. Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, Subsidiary
Guarantors or their 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. In addition, the Trustee shall be permitted to engage in transactions with the Issuer; provided, however, that if the Trustee acquires any conflicting interest under the TIA, the Trustee must (i) eliminate such conflict
within 90 days of acquiring such conflicting interest, (ii) apply to the SEC for permission to continue acting as Trustee or (iii) resign. 
 SECTION 7.4. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, the Guarantees or the Notes,
shall not be accountable for the Issuer’s use of the proceeds from the sale of the Notes, shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee or any money paid to the Issuer
pursuant to the terms of this Indenture and shall not be responsible for any statement of the Issuer in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of
authentication. 
 SECTION 7.5. Notice of Defaults. If a Default or Event of Default occurs and is continuing and if
a Trust Officer has actual knowledge thereof, the Trustee shall mail by first class mail to each Holder at the address set forth in the Notes Register notice of the Default or Event of Default within 90 days after it is actually known to a
Trust Officer. Except in the case of a Default relating to the payment of principal of, premium (if any), or interest on any Note (including payments pursuant to the optional redemption or required repurchase provisions of such Note), the Trustee
may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of Holders. In addition, subject to Section 6.5, the Trustee shall have no obligation to
accelerate the Notes if in the best judgment of the Trustee acceleration is not in the best interest of the Holders of the Notes. 
 SECTION 7.6. Reports by Trustee to Holders. Within 60 days after each December 15, beginning December 15, 2011, the Trustee shall mail to each Holder a brief report dated as of such
December 15 that complies with TIA § 313(a) if and to the extent required thereby. The Trustee also shall comply with TIA § 313(b) and TIA § 313(c). 

A copy of each report at the time of its mailing to Holders shall be filed with the SEC and each stock exchange (if any) on which the
Notes are listed. The Issuer agrees to notify promptly the Trustee in writing whenever the Notes become listed on any stock exchange and of any delisting thereof and the Trustee shall comply with TIA § 313(d). 

  
 102

 SECTION 7.7. Compensation and Indemnity. The Issuer shall pay to each of the
Trustee and the Agent from time to time such compensation for its services hereunder and under the Notes and the Guarantees as the Issuer and such party shall from time to time agree in writing. Neither the Trustee’s nor the Agent’s
compensation shall be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse each of the Trustee and the Agent upon request for all reasonable out-of-pocket expenses incurred or made by it, including, but not
limited to, costs of collection, costs of preparing reports, certificates and other documents, costs of preparation and mailing of notices to Holders. Such expenses shall include the reasonable compensation and expenses, disbursements and advances
of the respective agents, counsel, accountants and experts of the Trustee and the Agent. The Issuer shall indemnify each of the Trustee and Agent against any and all loss, liability, damages, claims or expense (including reasonable attorneys’
fees and expenses) incurred by it without willful misconduct, negligence or bad faith on its part in connection with the administration of this trust and the performance of its duties hereunder and under the Notes and the Guarantees, including the
costs and expenses of enforcing this Indenture (including this Section 7.7), the Notes and the Guarantees and of defending itself against any claims (whether asserted by any Holder, the Issuer or otherwise). Each of the Trustee and the
Agent shall notify the Issuer promptly of any claim for which it may seek indemnity of which it has received written notice. Failure by the Trustee or the Agent to so notify the Issuer shall not relieve the Issuer of its obligations hereunder. The
Issuer shall defend the claim and each of the Trustee and the Agent shall provide reasonable cooperation at the Issuer’s expense in the defense. The Trustee and the Agent may each have separate counsel and the Issuer shall pay the fees and
expenses of such counsel; provided that the Issuer shall not be required to pay the fees and expenses of such separate counsel if it assumes such party’s defense, and, in the reasonable judgment of outside counsel to such party, there is
no conflict of interest between the Issuer and such party in connection with such defense. 
 To secure the Issuer’s
payment obligations in this Section 7.7, each of the Trustee and the Agent shall have a lien prior to the Notes on all money or property held or collected by such party other than money or property held in trust to pay principal of and
interest on particular Notes. Such lien shall survive the satisfaction and discharge of this Indenture. The Trustee’s and the Agent’s rights to receive payment of any amounts due under this Section 7.7 shall not be subordinate
to any other liability or Indebtedness of the Issuer. 
 The Issuer’s obligations pursuant to this Section 7.7
shall survive the discharge of this Indenture. Without prejudice to any other rights available to the Trustee or the Agent under applicable law, when the Trustee or the Agent incurs expenses or renders services after the occurrence of a Default
specified in clause (8) or clause (9) of Section 6.1, the expenses (including the reasonable fees and expenses of its counsel) are intended to constitute expenses of administration under any Bankruptcy Law.

 SECTION 7.8. Replacement of Trustee. The Trustee, the Agent or any other Registrar, Paying Agent or
Authenticating Agent may resign at any time by so notifying the Issuer in writing not less than 30 days prior to the effective date of such resignation. The Holders of a majority in principal amount of the Notes may remove the Trustee, the Agent or
any other Registrar, Paying Agent or Authenticating Agent by so notifying the removed party in writing not less than 30 days prior to the effective date of such removal and may appoint a successor Trustee, Agent, Registrar, Paying Agent or
Authenticating Agent, as the case may be, with the Issuer’s written consent, which consent shall not be unreasonably withheld. The Issuer shall remove the Trustee if: 

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

  
 103

 (2) the Trustee is adjudged bankrupt or insolvent; 

(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 or is removed by the Issuer or by the Holders of a majority in principal amount of the Notes and such Holders do
not reasonably promptly appoint a successor Trustee as described in the preceding paragraph, or if a vacancy exists in the office of the Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer
shall promptly appoint a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Issuer. 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 Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.7. 

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 at least 10% in principal amount of the Notes may petition, at the Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee. 

If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in TIA
§ 310(b), any Holder, who has been a bona fide holder of a Note for at least six months, may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

As used in this Section 7.8, the term “Trustee” shall also include the Agent and each other Registrar, Paying Agent
or Authenticating Agent, as the case may be. 
 Notwithstanding the replacement of the Trustee pursuant to this
Section 7.8, the Issuer’s obligations under Section 7.7 shall continue for the benefit of the retiring Trustee. 
 SECTION 7.9. 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 without any further act shall be the successor Trustee. 
 In case 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 Notes 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 Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any
successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; provided that the right to adopt the certificate of authentication of any predecessor Trustee
or authenticate Notes in the name of any predecessor Trustee shall only apply to its successor or successors by merger, consolidation or conversion. 

  
 104

 SECTION 7.10. Eligibility; Disqualification. This Indenture shall always have a
Trustee that satisfies the requirements of TIA § 310(a)(1), (2) and (5) in every respect. The Trustee shall have a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual
report of condition. The Trustee shall comply with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or indentures under which other securities or
certificates of interest or participation in other securities of the Issuer are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 

SECTION 7.11. Preferential Collection of Claims Against the Issuer. The Trustee shall comply with TIA § 311(a),
excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated. 

SECTION 7.12. Trustee’s Application for Instruction from the Issuer. Any application by the Trustee for written
instructions from the Issuer may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall
be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three
Business Days after the date any Officer of the Issuer actually receives such application, unless any such Officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an
omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 
 ARTICLE VIII 
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 8.1. Option to Effect Legal Defeasance or Covenant Defeasance; Defeasance. The Issuer may, at its option and at any
time, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article VIII. 

SECTION 8.2. Legal Defeasance and Discharge. Upon the Issuer’s exercise under Section 8.1 hereof of the
option applicable to this Section 8.2, the Issuer and each of the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be deemed to have been discharged from their
obligation with respect to all outstanding Notes (including the Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer and the
Subsidiary Guarantors shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Guarantees), which shall thereafter be deemed to be “outstanding” only for the purposes of
Section 8.5 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all of their other obligations under such Notes, the Guarantees and this Indenture (and the Trustee, on
demand of and at the expense of the Issuer, shall execute proper instruments acknowledging the same) and to have cured all then existing Events of Default, except for the following provisions which shall survive until otherwise terminated or
discharged hereunder: 
 (1) the rights of Holders of Notes to receive payments in respect of the principal of,
premium, if any, and interest on the Notes when such payments are due solely out of the trust referred to in Section 8.4 hereof; 

  
 105

 (2) the Issuer’s obligations with respect to Notes under Article
II concerning issuing temporary Notes, registration of such Notes, mutilated, destroyed, lost or stolen Notes and Section 3.12 hereof concerning the maintenance of an office or agency for payment and money for security payments held
in trust; 
 (3) the rights, powers, trusts, duties and immunities of the Trustee and the Issuer’s
obligations in connection therewith; and; 
 (4) this Article VIII with respect to provisions relating to
Legal Defeasance. 
 SECTION 8.3. Covenant Defeasance. Upon the Issuer’s exercise under Section 8.1
hereof of the option applicable to this Section 8.3, the Issuer and each of the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be released from each of their
obligations under the covenants contained in Sections 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.14, 3.15 and 3.18 and
Sections 4.1(a)(4) and 10.2(b)(v) hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.4 hereof are satisfied (hereinafter, “Covenant Defeasance”),
and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to
be deemed “outstanding” for all other purposes hereunder. For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Guarantees, the Issuer and the Subsidiary Guarantors may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to
any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.1 hereof, but, except as specified above, the remainder of this Indenture and such
Notes and Guarantees shall be unaffected thereby. In addition, upon the Issuer’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3, subject to the satisfaction of the conditions set forth in
Section 8.4 hereof, Sections 6.1(a)(3) (with respect only to Sections 4.1(a)(4)) and 10.2(b)(u), 6.1(a)(4), 6.1(a)(5), 6.1(a)(6), 6.1(a)(7), 6.1(a)(8) (with respect only to a
Restricted Subsidiary that is a Significant Subsidiary or any group of Restricted Subsidiaries that taken together would constitute a Significant Subsidiary), 6.1(a)(9) (with respect only to a Restricted Subsidiary that is a Significant
Subsidiaries or any group of Restricted Subsidiaries that taken together would constitute a Significant Subsidiary), and 6.1(a)(10) hereof shall not constitute Events of Default. 

  
 106

 SECTION 8.4. Conditions to Legal or Covenant Defeasance. In order to exercise
either Legal Defeasance or Covenant Defeasance under either Section 8.2 or 8.3 hereof: 
 (1)
the Issuer must irrevocably deposit with the Trustee or as specified by the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S. dollars, Government Securities, or a combination thereof, in such amounts as shall be
sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, premium, if any, and interest due on the Notes on the stated maturity date or on the redemption date, as the case may be, of such
principal, premium, if any, or interest on such Notes, and the Issuer must specify whether such Notes are being defeased to maturity or to a particular redemption date; 

(2) in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee, with a copy to the Agent, an Opinion
of Counsel reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions; 
  

	 	(A)	the Issuer has received from, or there has been published by, the United States Internal Revenue Service a ruling, or 

 

	 	(B)	since the issuance of the Notes, there has been a change in the applicable U.S. federal income tax law, 

in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and
exclusions, the Holders of the Notes shall not recognize income, gain or loss for U.S. federal income tax purposes, as applicable, as a result of such Legal Defeasance and shall be subject to such U.S. 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; 
 (3)
in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of Counsel, with a copy to the Agent, reasonably acceptable to the Trustee confirming that, subject to customary assumptions and exclusions, the Holders of
the Notes shall not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and shall be subject to U.S. 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; 
 (4) no Default (other than that resulting
from borrowing funds to be applied to make such deposit and any similar and simultaneous deposit relating to other Indebtedness, and, in each case the granting of Liens in connection therewith) shall have occurred and be continuing on the date of
such deposit; 
 (5) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of,
or constitute a default under the New Credit Facilities or any other material agreement or instrument (other than this Indenture) to which the Issuer or any Subsidiary Guarantor is a party or by which the Issuer or any Subsidiary Guarantor is bound
(other than that resulting from borrowing funds to be applied to make such deposit and any similar and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith); 

  
 107

 (6) the Issuer shall have delivered to the Trustee, with a copy to the
Agent, an Opinion of Counsel to the effect that, as of the date of such opinion and subject to customary assumptions and exclusions following the deposit, the trust funds shall not be subject to the effect of Section 547 of Title 11 of the
United States Code; 
 (7) the Issuer shall have delivered to the Trustee, with a copy to the Agent, an
Officer’s Certificate stating that the deposit was not made by the Issuer with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or any Subsidiary Guarantor or others; and 

(8) the Issuer shall have delivered to the Trustee, with a copy to the Agent, an Officer’s Certificate and an Opinion
of Counsel (which Opinion of Counsel may be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been
complied with. 
 SECTION 8.5. Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions. Subject to Section 8.6 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this
Section 8.5, the “Trustee”) pursuant to Section 8.4 hereof in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this
Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal,
premium and Additional Interest, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 
 The Issuer shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to
Section 8.4 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 

Notwithstanding anything in this Article VIII to the contrary, the Trustee shall deliver or pay to the Issuer from time to time
upon the request of the Issuer any money or non-callable Government Securities held by it as provided in Section 8.4 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.4(1) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or
Covenant Defeasance. 
 SECTION 8.6. Repayment to the Issuer. Any money deposited with the Trustee or any Paying
Agent, or then held by the Issuer, in trust for the payment of the principal of, premium or Additional Interest, if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium or Additional Interest, if any, or
interest has become due and payable shall be paid to the Issuer on its request unless an abandoned property law designates another Person or (if then held by the Issuer) shall be discharged from such trust; and the Holder of such Note shall
thereafter be permitted to look only to the Issuer for payment thereof unless an abandoned property law designates another Person, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the
Issuer as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer cause to be published once, in The New York
Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed
balance of such money then remaining shall be repaid to the Issuer. 

  
 108

 SECTION 8.7. Reinstatement. If the Trustee or Paying Agent is unable to apply
any money or U.S. dollars or non-callable Government Securities in accordance with Section 8.2 or 8.3 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, then the Issuer’s and the Subsidiary Guarantors’ obligations under this Indenture and the Notes and the Guarantees shall be revived and reinstated as though no deposit had occurred pursuant to
Section 8.2 or 8.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.2 or 8.3 hereof, as the case may be; provided, however, that, if
the Issuer makes any payment of principal of, premium or Additional Interest, if any, or interest on, any Note following the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such
payment from the money or non-callable Government Securities held by the Trustee or Paying Agent. 
 ARTICLE IX 

AMENDMENTS 
 SECTION 9.1. Without Consent of Holders. Notwithstanding Section 9.2 of this Indenture, the Issuer, any Subsidiary Guarantor (with respect to a Guarantee or this Indenture to which
it is a party) and the Trustee may amend or supplement this Indenture and any Guarantee and the Notes without the consent of any Holder: 
 (1) to cure any ambiguity, omission, mistake, defect or inconsistency; 
 (2) to provide for uncertificated Notes of such series in addition to or in place of certificated Notes; 
 (3) to comply with Article IV or Section 10.2(b); 
 (4) to provide for the assumption of the Issuer’s or any Subsidiary Guarantor’s obligations to the Holders in a transaction that complies with this Indenture; 

  
 109

 (5) to make any change that would provide any additional rights or benefits
to the Holders or that does not adversely affect the legal rights under this Indenture of any such Holder; 
 (6)
to add covenants for the benefit of the Holders or to surrender any right or power conferred upon the Issuer or any Subsidiary Guarantor; 
 (7) to comply with requirements of the SEC in order to effect or maintain the qualification of the Indenture under the Trust Indenture Act; 

(8) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee hereunder
pursuant to the requirements hereof; 
 (9) to provide for the issuance of exchange notes or private exchange
notes, which are identical to exchange notes except that they are not freely transferable; 
 (10) to add a
Subsidiary Guarantor under this Indenture; 
 (11) to conform the text of this Indenture, the Guarantees or Notes
to any provision under the heading “Description of notes” in the Offering Memorandum to the extent that such provision in the Offering Memorandum was intended to be a verbatim recitation of a provision of this Indenture, the Guarantees or
Notes, as provided in an Officer’s Certificate; or 
 (12) to make any amendment to the provisions of this
Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including, without limitation to facilitate the issuance and administration of the Notes; provided, however, that (i) compliance with this
Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and (ii) such amendment does not materially and adversely affect the rights of Holders to transfer Notes.

 Subject to Section 9.2, upon the request of the Issuer, and upon receipt by the Trustee of the documents
described in Section 13.4 hereof, the Trustee shall join with the Issuer and the Subsidiary Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly 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 amended or supplemental Indenture. 

After an amendment or supplement under this Section 9.1 becomes effective, the Issuer shall mail to Holders a notice briefly
describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment or supplement under this Section 9.1. 

SECTION 9.2. With Consent of Holders. 
 Except as provided below in this Section 9.2, the Issuer, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture, any Guarantee and the Notes issued hereunder with
the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding, including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes, and, subject to Sections
6.4 and 6.7 hereof, any existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if any, and Additional Interest, if any, or interest on the Notes, except a payment
default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes and the Guarantees may be waived with the consent of the Holders of a majority in principal amount of the then outstanding
Notes, other than Notes beneficially owned by the Issuer or its Affiliates (including consents obtained in connection with a purchase of or tender offer or exchange offer for the Notes). Section 2.11 hereof and Section 13.6
hereof shall determine which Notes are considered to be “outstanding” for the purposes of this Section 9.2. 

  
 110

 Upon the request of the Issuer, and upon the filing with the Trustee of evidence
satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 13.4 hereof, the Trustee shall join with the Issuer and the Subsidiary Guarantors in
the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly 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 amended or supplemental Indenture. 
 Without the consent of each
affected Holder of Notes, an amendment or waiver may not, with respect to any Notes held by a non-consenting Holder: 
 (1) reduce the principal amount of such Notes whose Holders must consent to an amendment, supplement or waiver; 
 (2) reduce the principal of or change the fixed stated maturity of any such Note or alter or waive the provisions with respect to the redemption of such Notes (other than provisions relating to
Sections 3.5 and 3.10); 
 (3) reduce the rate of or change the time for payment of interest on any
Note; 
 (4) waive a Default in the payment of principal of or premium, if any, or interest on the Notes, except
a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the Notes and a waiver of the payment default that resulted from such acceleration, or in respect of a covenant or provision contained
in the Indenture or any Guarantee which cannot be amended or modified without the consent of all Holders; 
 (5)
make any Note payable in money other than that stated therein; 
 (6) make any change in the provisions of this
Indenture relating to waivers of past Defaults or the rights of Holders to receive payments of principal of or premium, if any, or interest on the Notes; 
 (7) make any change in these amendment and waiver provisions that require each Holder’s consent; 

  
 111

 (8) impair the right of any Holder to receive payment of principal of, or
interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; 

(9) make any change to or modify the ranking of the Notes that would adversely affect the Holders; or 

(10) except as expressly permitted by this Indenture, modify the Guarantees of any Significant Subsidiary (or group of
Restricted Subsidiaries that together (determined as of the most recent consolidated financial statements of the Issuer for a fiscal period end provided as required under Section 3.11) would constitute a Significant Subsidiary), in any manner
adverse to the Holders of the Notes. 
 It shall not be necessary for the consent of the Holders under this Indenture to approve
the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. A consent to any amendment, supplement or waiver under this Indenture by any Holder of the Notes given in
connection with a tender or exchange of such Holder’s Notes shall not be rendered invalid by such tender or exchange. 

After an amendment or supplement under this Section 9.2 becomes effective, the Issuer shall mail to Holders a notice briefly
describing such amendment or supplement. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment or supplement. 

SECTION 9.3. Compliance with Trust Indenture Act. 
 Every amendment or supplement to this Indenture, any Guarantee and the Notes shall be set forth in an amended or supplemental indenture that complies with the TIA as then in effect. 

SECTION 9.4. Revocation and Effect of Consents and Waivers. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder
of a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent or waiver is not made on any Note. However, any such Holder of a Note or
subsequent Holder of a Note may revoke the consent or waiver as to such Holder’s Note or portion of its Note if the Trustee receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An
amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 
 The Issuer
may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record
date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent
previously given or to take any such action, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

  
 112

 SECTION 9.5. Notation on or Exchange of Notes. 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuer
in exchange for all Notes may issue and the Trustee shall, upon receipt of an Issuer Order, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 

SECTION 9.6. Trustee to Sign Amendments. 
 The Trustee and Agent shall sign any amended or supplemental indenture authorized pursuant to this Article IX if the amendment or supplement does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. In executing any amended or supplemental indenture, the Trustee and Agent shall be entitled to receive and (subject to Sections 7.1 and 7.2 hereof) shall be fully protected in conclusively
relying upon, in addition to the documents required by Section 13.4 hereof, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is authorized or permitted by this
Indenture. 
 ARTICLE X 
 GUARANTEE 
 SECTION 10.1. Guarantee. Subject to the provisions
of this Article X, from and after the Release each Subsidiary Guarantor hereby fully, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, jointly and severally with each other Subsidiary Guarantor, to
each Holder of the Notes, and the Trustee the full and punctual payment when due, whether at maturity, by acceleration, by redemption or otherwise, of the principal of, premium, if any, and interest (including Additional Interest)) (accruing after
the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Issuer or any Subsidiary Guarantor whether or not a claim for post-filing or post-petition interest is allowed in
such proceeding and the obligations under Section 7.7) on the Notes and all other obligations and liabilities of the Issuer under this Indenture (including without limitation interest (including Additional Interest) and the Registration
Rights Agreement (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Guarantee shall be on an unsecured senior basis. Each Subsidiary Guarantor agrees that the Guaranteed Obligations shall
(i) rank equally in right of payment with other existing and future Senior Indebtedness of each such Subsidiary Guarantor, (ii) be effectively subordinated to all Secured Indebtedness of each such Subsidiary Guarantor to the extent of the
value of the assets securing such Indebtedness and (iii) shall be senior in right of payment to all existing and future Subordinated Indebtedness of each such Subsidiary Guarantor. 

  
 113

 To evidence its Guarantee set forth in this Section 10.1, each Subsidiary
Guarantor hereby agrees that this Indenture (or a supplemental indenture to the Indenture) shall be executed on behalf of such Subsidiary Guarantor by an Officer of such Subsidiary Guarantor. 

Each Subsidiary Guarantor hereby agrees that its Guarantee set forth in Section 10.1 hereof shall remain in full force and
effect notwithstanding the absence of the endorsement of any notation of such Guarantee on the Notes. 
 If an Officer whose
signature is on this Indenture no longer holds that office at the time the Trustee authenticates the Note, the Guarantee shall be valid nevertheless. 
 Upon execution of a supplemental indenture to this Indenture by the Subsidiary Guarantors, the Guarantees set forth in this Indenture shall be deemed duly delivered, without any further action by any
Person, on behalf of the Subsidiary Guarantors. Following the Issue Date, the delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this Indenture on behalf of
the Subsidiary Guarantors. 
 Each Subsidiary Guarantor further agrees (to the extent permitted by law) that the Guaranteed
Obligations may be extended or renewed, in whole or in part, without notice or further assent from it, and that it shall remain bound under this Article X notwithstanding any extension or renewal of any Guaranteed Obligation. 

Each Subsidiary Guarantor waives presentation to, demand of payment from and protest to the Issuer of any of the Guaranteed Obligations
and also waives notice of protest for nonpayment. Each Subsidiary Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. 
 Each Subsidiary Guarantor further agrees that its Guarantee herein constitutes a Guarantee of payment when due (and not a Guarantee of collection) and waives any right to require that any resort be had by
any Holder to any security held for payment of the Guaranteed Obligations. 
 Except as set forth in Section 10.2,
the obligations of each Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than payment of the Guaranteed Obligations in full), including any claim of waiver, release,
surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise.
Without limiting the generality of the foregoing, the Guaranteed Obligations of each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by (a) the failure of any Holder to assert any claim or demand or to
enforce any right or remedy against the Issuer or any other person under this Indenture, the Notes or any other agreement or otherwise; (b) any extension or renewal of any thereof; (c) any rescission, waiver, amendment or modification of
any of the terms or provisions of this Indenture, the Notes or any other agreement; (d) the failure of any Holder to exercise any right or remedy against any other Subsidiary Guarantor; (e) any change in the ownership of the Issuer;
(f) any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations, or (g) any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent
vary the risk of any Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity. 

  
 114

 Each Subsidiary Guarantor agrees that its Guarantee herein shall remain in full force and
effect until payment in full of all the Guaranteed Obligations or such Subsidiary Guarantor is released from its Guarantee in compliance with Section 10.2, Article VIII or Article XII. Each Subsidiary Guarantor further
agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of, premium, if any, or interest on any of the Guaranteed Obligations is rescinded or
must otherwise be restored by any Holder upon the bankruptcy or reorganization of the Issuer or otherwise. 
 In furtherance of
the foregoing and not in limitation of any other right which any Holder has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Issuer to pay any of the Guaranteed Obligations when and as the same shall
become due, whether at maturity, by acceleration, by redemption or otherwise, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the
Trustee on behalf of the Holders an amount equal to the sum of (i) the unpaid amount of such Guaranteed Obligations then due and owing and (ii) accrued and unpaid interest (including Additional Interest) on such Guaranteed Obligations then
due and owing (but only to the extent not prohibited by law) (including interest accruing after the filing of any petition in bankruptcy or the commencement of any insolvency, reorganization or like proceeding relating to the Issuer or any
Subsidiary Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such proceeding). 
 Each
Subsidiary Guarantor further agrees that, as between such Subsidiary Guarantor, on the one hand, and the Holders, on the other hand, (x) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in this
Indenture for the purposes of its Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby and (y) in the event of any such declaration
of acceleration of such Guaranteed Obligations, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by the Subsidiary Guarantor for the purposes of this Guarantee. 

Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and expenses)
incurred by the Trustee or the Holders in enforcing any rights under this Section. 
 SECTION 10.2. Limitation on
Liability; Termination, Release and Discharge. 
 (a) Any term or provision of this Indenture to the contrary
notwithstanding, the obligations of each Subsidiary Guarantor hereunder shall be limited to the maximum amount as shall, after giving effect to all other contingent and fixed liabilities of such Subsidiary Guarantor (including, without limitation,
any guarantees under the New Credit Facilities) and after giving effect to any collections from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under its Guarantee
or pursuant to its contribution obligations under this Indenture, result in the obligations of such Subsidiary Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law and not otherwise
being void or voidable under any similar laws affecting the rights of creditors generally. 

  
 115

 (b) Subject to Section 10.2(c), the Issuer shall not permit any Subsidiary
Guarantor to, consolidate or merge with or into or wind up into (whether or not the Issuer or such Subsidiary Guarantor is the surviving corporation), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its
properties or assets, in one or more related transactions, to any Person unless: 
 (i) such Subsidiary Guarantor
is the surviving corporation or the Person formed by or surviving any such consolidation or merger (if other than such Subsidiary Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is
a Person organized or existing under the laws of the jurisdiction of organization of such Subsidiary Guarantor, as the case may be, or the laws of the United States, any state thereof, the District of Columbia or any territory thereof (such
Subsidiary Guarantor or such Person, as the case may be, being herein called the “Successor Person”); 
 (ii) the Successor Person, if other than such Subsidiary Guarantor, expressly assumes all the obligations of such Subsidiary Guarantor under this Indenture and such Subsidiary Guarantor’s related
Guarantee pursuant to supplemental indentures or other documents or instruments in form reasonably satisfactory to the Trustee; 
 (iii) immediately after such transaction, no Default exists; 
 (iv)
the Issuer shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, with a copy to the Agent, each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this
Indenture; and 
 (v) the transaction is made in compliance with Section 3.5, if applicable.

 (c) Subject to the limitations described in this Indenture, the Successor Person shall succeed to, and be substituted for,
such Subsidiary Guarantor under this Indenture, such Subsidiary Guarantor’s Guarantee and the Registration Rights Agreement. Notwithstanding the foregoing, any Subsidiary Guarantor may (i) merge into or with or wind up into or transfer all
or part of its properties and assets to another Subsidiary Guarantor or the Issuer or (ii) merge with an Affiliate of the Issuer solely for the purpose of reincorporating or reorganizing the Subsidiary Guarantor in the United States, any state
thereof, the District of Columbia or any territory thereof. Notwithstanding the foregoing, any Restricted Subsidiary may liquidate or dissolve if the board of directors of the Issuer determines in good faith that such liquidation or dissolution is
in the best interests of the Issuer and is not materially disadvantageous to the Holders. 
 (d) Any Guarantee by a Subsidiary
Guarantor of the Notes shall be automatically and unconditionally released and discharged upon: 
 (1) (A) any
sale, exchange, disposition or transfer (by merger or otherwise) of (x) the Capital Stock of such Subsidiary Guarantor, after which the applicable Subsidiary Guarantor is no longer a Restricted Subsidiary, or (y) all or substantially all
the assets of such Subsidiary Guarantor, which sale, exchange, disposition or transfer in each case is made in compliance with the applicable provisions of this Indenture; 

  
 116

 (B) the release or discharge of the guarantee by such Subsidiary Guarantor
of the New Credit Facilities or the guarantee which resulted in the creation of such Guarantee, except a discharge or release by or as a result of payment under such guarantee; 

(C) the proper designation of any Restricted Subsidiary that is a Subsidiary Guarantor as an Unrestricted Subsidiary in
compliance with the applicable provisions of this Indenture; and 
 (D) the Issuer exercising its legal
defeasance option or covenant defeasance option as described in Article VIII or if its obligations under this Indenture are discharged in accordance with Article XII; and 

(2) Such Subsidiary Guarantor delivering to the Trustee an Officer’s Certificate and an Opinion of Counsel, with a
copy to the Agent, each stating that all conditions precedent provided for in the Indenture relating to such transaction have been complied with. 
 SECTION 10.3. Right of Contribution. Each Subsidiary Guarantor hereby agrees that any Subsidiary Guarantor that makes a payment on the obligations under the Guarantees shall be entitled, upon
payment in full of all obligations under the Guarantees, to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the respective net assets of all
the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. The provisions of this Section 10.3 shall in no respect limit the obligations and liabilities of each Subsidiary Guarantor to the Trustee and the
Holders, and each Subsidiary Guarantor shall remain liable to the Trustee and the Holders for the full amount guaranteed by such Subsidiary Guarantor hereunder. 
 SECTION 10.4. No Subrogation. Notwithstanding any payment or payments made by each Subsidiary Guarantor hereunder, no Subsidiary Guarantor shall be entitled to be subrogated to any of the
rights of the Trustee or any Holder against the Issuer or any other Subsidiary Guarantor or any guarantee or right of offset held by the Trustee or any Holder for the payment of the Guaranteed Obligations, nor shall any Subsidiary Guarantor seek or
be entitled to seek any contribution or reimbursement from the Issuer or any other Subsidiary Guarantor in respect of payments made by such Subsidiary Guarantor hereunder, until all amounts owing to the Trustee and the Holders by the Issuer on
account of the Guaranteed Obligations are paid in full. If any amount shall be paid to any Subsidiary Guarantor on account of such subrogation rights at any time when all of the Guaranteed Obligations shall not have been paid in full, such amount
shall be held by such Subsidiary Guarantor in trust for the Trustee and the Holders, segregated from other funds of such Subsidiary Guarantor, and shall, forthwith upon receipt by such Subsidiary Guarantor, be turned over to the Trustee in the exact
form received by such Subsidiary Guarantor (duly indorsed by such Subsidiary Guarantor to the Trustee, if required), to be applied against the Guaranteed Obligations. 

  
 117

 ARTICLE XI 
 RESERVED 
 ARTICLE XII 

SATISFACTION AND DISCHARGE 
 SECTION 12.1. Satisfaction and Discharge. 
 This Indenture shall be
discharged and shall cease to be of further effect as to all Notes, when: 
 (a) either: 

(i) all Notes theretofore authenticated and delivered, except lost, stolen or destroyed Notes that have been replaced or
paid and Notes for whose payment money has theretofore been deposited in trust, have been delivered to the Agent for cancellation; or 
 (ii) all Notes not theretofore delivered to the Agent for cancellation have become due and payable by reason of the making of a notice of redemption or otherwise, will become due and payable within one
year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee or the applicable registrar in the name, and at the expense, of the Issuer, and the Issuer
or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee or as specified by the Trustee as trust funds in trust solely for the benefit of the Holders of the Notes, cash in U.S. dollars, Government
Securities, or a combination thereof, in such amounts as shall be sufficient without consideration of any reinvestment of interest to pay and discharge the entire Indebtedness on the Notes not theretofore delivered to the Agent for cancellation for
principal, premium, if any, and accrued interest to the date of maturity or redemption; 
 (b) no Default (other than that
resulting from borrowing funds to be applied to make such deposit and any similar and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith) with respect to this Indenture or the Notes
shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such deposit shall not result in a breach or violation of, or constitute a default under, the New Credit Facilities or any other
material agreement or instrument (other than this Indenture) to which the Issuer or any Subsidiary Guarantor is a party or by which the Issuer or any Subsidiary Guarantor is bound (other than that resulting from borrowing funds to be applied to make
such deposit and any similar and simultaneous deposit relating to other Indebtedness and, in each case, the granting of Liens in connection therewith); 

  
 118

 (c) the Issuer has paid or caused to be paid all sums payable by it under this Indenture;
and 
 (d) the Issuer has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of
the Notes at maturity or the redemption date, as the case may be. 
 In addition, the Issuer shall deliver an Officer’s
Certificate and an Opinion of Counsel to the Trustee, with a copy to the Agent, stating that all conditions precedent to satisfaction and discharge have been satisfied. 
 Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to clause (a)(ii) of this Section 12.1, the provisions of
Sections 12.2 and 8.6 hereof shall survive. 
 SECTION 12.2. Application of Trust Money. 

Subject to the provisions of Section 8.6 hereof, all money deposited with the Trustee pursuant to Section 12.1
hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium and Additional Interest, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except
to the extent required by law. 
 If the Trustee or Paying Agent is unable to apply any money or Government Securities in
accordance with Section 12.1 hereof 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 Issuer’s and
any Subsidiary Guarantor’s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.1 hereof; provided that if the Issuer has made any payment of
principal of, premium or Additional Interest, if any, or interest on, any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or
Government Securities held by the Trustee or Paying Agent. 
 ARTICLE XIII 

MISCELLANEOUS 
 SECTION 13.1. Trust Indenture Act Controls. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in
this Indenture by the TIA, the provision required by the TIA shall control. Each Subsidiary Guarantor in addition to performing its obligations under its Guarantee shall perform such other obligations as may be imposed upon it with respect to this
Indenture under the TIA. 

  
 119

 SECTION 13.2. Notices. Any notice or communication shall be in writing and
delivered in person, sent by facsimile, sent by electronic mail, delivered by commercial courier service or mailed by first-class mail, postage prepaid, addressed as follows: 
 if to Issuer or to any Subsidiary Guarantor: 
 Citadel Broadcasting Corporation

 142 W. 57th Street, 11th Floor 
 New York, New York 10019 
 Attention: General Counsel 

Telecopy: 212 887-1675 
 with a copy to: 
 Kirkland & Ellis LLP 

601 Lexington Ave 
 New York, New York 10022 
 Attention: Joshua N. Korff and Christopher A. Kitchen

 Telecopy: (212) 446-4900 
 E-mail: joshua.korff@kirkland.com; 

christopher.kitchen@kirkland.com 
 if to the Trustee, at its corporate trust office, which corporate trust office for purposes of this Indenture is at the date hereof located at: 

Wilmington Trust Company 
 Corporate Capital Market Services 
 Rodney Square North 

1100 N. Market Street 
 Wilmington, DE 19890 
 Attention: Geoffrey Lewis 

Telecopy: (302) 636-4145 
 E-mail: glewis@wilmingtontrust.com 

  
 120

 if to the Agent, at its corporate trust office, which corporate trust office for purposes
of this Indenture is at the date hereof located at: 
 Deutsche Bank Trust Company Americas 

60 Wall Street, 27th Floor 
 MS: NYC60-27 
 New York, NY 10005 

Attention: Corporate Team, Citadel Broadcasting Corporation 
 Telecopy: (732) 578-4635 
 with a copy to: 

Deutsche Bank National Trust Company 
 Trust and Securities Services 
 100 Plaza One 

6th Floor – MSJCY03-0699 
 Jersey City, NJ 07311-3901 
 Attention: Corporate Team, Citadel Broadcasting
Corporation 
 Telecopy: (732) 578-4635 
 The Issuer, the Trustee or the Agent by written notice to the other may designate additional or different addresses for subsequent notices or communications. 

Any notice or communication to the Issuer or the Subsidiary Guarantors shall be deemed to have been given or made as of the date so
delivered if personally delivered; when receipt is acknowledged, if telecopied; on the first date on which publication is made, when given by publication; and five calendar days after mailing if sent by registered or certified mail, postage prepaid
(except that a notice of change of address shall not be deemed to have been given until actually received by the addressee). Any notice or communication to the Trustee shall be deemed delivered upon receipt. 

Any notice or communication mailed to a Holder shall be mailed to the Holder at the Holder’s address as it appears in the Notes
Register and shall be sufficiently given if so mailed within the time prescribed. 
 Failure to mail a notice or communication
to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to
the Trustee shall be effective only upon receipt. 
 In case by reason of the suspension of regular mail service or by reason of
any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 

Notwithstanding any other provision of this Indenture or any Note, where this Indenture provides for notice of any event (including any
notice of redemption) to any Holder of a global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to DTC or any other applicable depositary for such Note (or its designee) according to the applicable rules and
procedures of DTC or such depositary. 
 SECTION 13.3. Communication by Holders with other Holders. Holders may
communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Notes. The Issuer, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

  
 121

 Notwithstanding any other provision of this Indenture or any Note, where this Indenture or
any Note provides for notice of any event (including any notice of redemption) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to DTC for such Note (or its designee), pursuant to the
customary procedures of DTC. 
 SECTION 13.4. Certificate and Opinion as to Conditions Precedent. Upon any request
or application by the Issuer to the Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee: 
 (1) an Officer’s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to
the proposed action have been complied with; and 
 (2) an Opinion of Counsel in form reasonably satisfactory to
the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION
13.5. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include: 

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

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

(4) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied
with. 
 In giving such Opinion of Counsel, counsel may rely as to factual matters on an Officer’s Certificate or on
certificates of public officials. 
 SECTION 13.6. When Notes Disregarded. In determining whether the Holders of the
required aggregate principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, any Subsidiary Guarantor or any Affiliate of them shall be disregarded and deemed not to be outstanding, except that, for the
purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which the Trustee actually knows are so owned shall be so disregarded. Also, subject to the foregoing, only Notes
outstanding at the time shall be considered in any such determination. 

  
 122

 SECTION 13.7. Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by, or at meetings of, Holders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 SECTION 13.8. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or other day on which commercial banking institutions are authorized or required to be closed in New
York, New York. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date
shall not be affected. 
 SECTION 13.9. GOVERNING LAW. THIS INDENTURE, THE NOTES AND THE GUARANTEES SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE OR INSTRUMENTS ENTERED INTO AND, IN EACH CASE, PERFORMED IN SAID STATE. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF
THE STATE COURTS OF, AND THE FEDERAL COURTS LOCATED IN, THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE (INCLUDING THE GUARANTEES SET FORTH HEREIN) OR THE NOTES. 

SECTION 13.10. USA Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot
Act, the Trustee and the Agent, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that
establishes a relationship or opens an account. The parties to this Indenture agree that they shall provide the Trustee and the Agent with such information as they may request in order to satisfy the requirements of the USA Patriot Act. 

SECTION 13.11. No Recourse Against Others. An incorporator, director, officer, employee or stockholder of the Issuer or any
Subsidiary Guarantor or any of their parent companies, solely by reason of this status, shall not have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, the Guarantees or this Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release are a part of the consideration for the issuance of the Notes. 

SECTION 13.12. Successors. All agreements of the Issuer and each Subsidiary Guarantor in this Indenture and the Notes shall
bind their respective successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION
13.13. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The
exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all
purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

  
 123

 SECTION 13.14. Qualification of Indenture. The Issuer has agreed to qualify this
Indenture under the TIA in accordance with the terms and conditions of the Registration Rights Agreement and to pay all reasonable costs and expenses (including attorneys’ fees and expenses for the Issuer, the Trustee and the Holders) incurred
in connection therewith, including, but not limited to, costs and expenses of qualification of this Indenture and the Notes and printing this Indenture and the Notes. The Trustee shall be entitled to receive from the Issuer any such Officer’s
Certificates, Opinions of Counsel or other documentation as it may reasonably request in connection with any such qualification of this Indenture under the TIA. 
 SECTION 13.15. Table of Contents; Headings. The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
 SECTION 13.16. WAIVERS OF JURY TRIAL. THE ISSUER, THE SUBSIDIARY GUARANTORS, THE TRUSTEE AND THE AGENT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR
PROCEEDING RELATING TO THIS INDENTURE, THE NOTES OR THE GUARANTEES AND FOR ANY COUNTERCLAIM THEREIN. 
 SECTION
13.17. Force Majeure. In no event shall the Trustee or the Agent 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 best efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances. 

  
 124

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

			
	CITADEL BROADCASTING CORPORATION
		
	 By
	 	   /s/ Randy L. Taylor

	 Name:  Randy L. Taylor

	 Title:    Senior Vice President and Chief Financial
Officer

 [Signature Page to the Indenture] 

  

			
	WILMINGTON TRUST COMPANY,
	as Trustee
		
	 By:
	 	   /s/ Geoffrey J. Lewis

		 	 Name:  Geoffrey J. Lewis

		 	 Title:    Assistant Vice President

[Signature Page to the Indenture] 

  

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Registrar, Authentication Agent and Paying Agent
		
	 By:
	 	   /s/ Annie Jaghatspanyan

		 	Name:  Annie Jaghatspanyan
		 	Title:    Vice President
		
	 By:
	 	   /s/ Carol Ng

		 	Name:  Carol Ng
		 	Title:    Vice President

 [Signature Page to the Indenture] 

 EXHIBIT 1 
 Subsidiary Guarantors 
  

					
	SUBSIDIARY GUARANTOR	  	JURISDICTION OF ORGANIZATION	  	 
			
	Alphabet Acquisition Corp.	  	Delaware	  	
	Atlanta Radio, LLC	  	Delaware	  	
	Aviation I, LLC	  	Nevada	  	
	Chicago FM Radio Assets, LLC	  	Delaware	  	
	Chicago License, LLC	  	Delaware	  	
	Chicago Radio Assets, LLC	  	Delaware	  	
	Chicago Radio Holding, LLC	  	Delaware	  	
	Chicago Radio, LLC	  	Delaware	  	
	Citadel Broadcasting Company	  	Nevada	  	
	DC Radio Assets, LLC	  	Delaware	  	
	DC Radio, LLC	  	Delaware	  	
	Detroit Radio, LLC	  	Delaware	  	
	International Radio, Inc.	  	Delaware	  	
	KLOS Radio, LLC	  	Delaware	  	
	KLOS-FM Radio Assets, LLC	  	Delaware	  	
	KLOS Syndications Assets, LLC	  	Delaware	  	
	LA License, LLC	  	Delaware	  	
	LA Radio, LLC	  	Delaware	  	
	Minneapolis Radio Assets, LLC	  	Delaware	  	
	Minneapolis Radio, LLC	  	Delaware	  	
	Network License, LLC	  	Delaware	  	
	NY License, LLC	  	Delaware	  	
	NY Radio Assets, LLC	  	Delaware	  	
	NY Radio, LLC	  	Delaware	  	
	Radio Assets, LLC	  	Delaware	  	
	Radio Networks, LLC	  	Delaware	  	
	Radio Today Entertainment, Inc.	  	New York	  	
	Radio Watermark, Inc.	  	Delaware	  	
	San Francisco Radio Assets, LLC	  	Delaware	  	
	San Francisco Radio, LLC	  	Delaware	  	
	SF License, LLC	  	Delaware	  	
	WBAP-KSCS Acquisition Partner, LLC	  	Delaware	  	
	WBAP-KSCS Assets, LLC	  	Delaware	  	
	WBAP-KSCS Radio Acquisition, LLC	  	Delaware	  	
	WBAP-KSCS Radio Group, Ltd.	  	Texas	  	
	WPLJ Radio, LLC	  	Delaware	  	
	Oklahoma Radio Partners, LLC	  	Alabama	  	

 EXHIBIT A: Form of Series A Note 

[FORM OF FACE OF SERIES A NOTE] 
 [Applicable Restricted Notes Legend] 
 [Depository Legend, if applicable]

 [OID Legend, if applicable] 
  

					
	No. [    ]	 		 	Principal Amount $[                    ] [as revised by the Schedule of
Increases and Decreases in Global Note attached hereto]1
CUSIP NO.                                     2

CITADEL BROADCASTING CORPORATION 
 7.75% Senior Notes due 2018 
 Citadel Broadcasting
Corporation, a Delaware corporation (the “Issuer”), promises to pay to [Cede &
Co.]1, or its registered assigns, the principal sum of
                             Dollars, [as revised by the Schedule of Increases and Decreases in Global
Note attached hereto] 1, on December 15, 2018.

 Interest Payment Dates: June 15 and December 15, commencing on June 15, 2011 

Record Dates: June 1 and December 1 
 Additional provisions of this Note are set forth on the other side of this Note. 
  

 

	1	 Insert in Global Notes only 

	2	 144A – 17285TAD8 

 Reg S – U1728JTAD81 
 IAI – 17285TAE6 

  
 A-1

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

 

			
	CITADEL BROADCASTING CORPORATION
		
	 By:
	 	  

	 Name:

	 Title:

  
 A-2

 AGENT’S CERTIFICATE OF 
 AUTHENTICATION 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Agent, certifies 
 that this is one of

 the Notes referred 
 to in the
Indenture. 
  

									
	 By:
	 	  
	 		 		 	
		 	 Authorized Officer
	 		 	Date:                    	 	

  
 A-3

 [FORM OF REVERSE SIDE OF NOTE] 

CITADEL BROADCASTING CORPORATION 
 7.75% Senior Notes due 2018 
 Capitalized terms used herein and not defined herein
have the meanings ascribed thereto in the Indenture. 
  

	1.	Interest 

 Citadel
Broadcasting Corporation, a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Issuer”), promises to pay interest on the principal amount of this
Note at the rate of 7.75% per annum, which shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from December 10, 2010. The Issuer shall pay interest on overdue principal at the rate
specified herein, and it shall pay interest on overdue installments of interest (including Additional Interest) at the same rate to the extent lawful. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day
months. 
 The Issuer shall make each interest payment in cash semi-annually in arrears on June 15 and December 15 of
each year, commencing on June 15, 2011, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”) to Holders of record of Notes on the immediately preceding June 1 and
December 1. 
 In addition to the rights provided to Holders under the Indenture, Holders of Registrable Securities shall
have all rights set forth in the Registration Rights Agreement, dated as of December 10, 2010, among the Issuer, the Subsidiary Guarantors named therein and the other parties named on the signature pages thereto (the “Registration
Rights Agreement”), including the right to receive Additional Interest in certain circumstances. If applicable, Additional Interest shall be paid to the same Persons, in the same manner and at the same times as regular interest. 

 

	2.	Method of Payment 

 By no
later than 11:00 a.m. (New York City time) on the date on which any principal of, premium, if any, or interest on any Note is due and payable, the Issuer shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay
such principal, premium or interest when due. Interest on any Note which is payable, and is timely paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is
registered at the close of business on the preceding June 1 and December 1 at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.3 of the Indenture. The principal of (and premium, if any) and
interest on the Notes shall be payable at the office or agency of Paying Agent or Registrar designated by the Issuer maintained for such purpose in the United States or at such other office or agency of the Issuer as may be maintained for such
purpose pursuant to Section 2.3 of the Indenture; provided, however, that, at the option of the Issuer, the principal of (and premium, if any) and interest may be paid by (i) check mailed to addresses of the Persons entitled
thereto as such addresses shall appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of this paragraph. Payments in respect of Notes represented by a
Global Note (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof. 

  
 A-4

  

	3.	Paying Agent and Registrar 

The Issuer initially appoints Deutsche Bank Trust Company Americas (the “Agent”) as Registrar and Paying Agent for the
Notes. The Issuer may change any Registrar or Paying Agent without prior notice to the Holders. The Issuer or any Subsidiary Guarantor may act as Paying Agent, Registrar or transfer agent. 

 

	4.	Indenture 

 The Issuer
issued the Notes under an Indenture, dated as of December 10, 2010 (as it may be amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), among Citadel Broadcasting Corporation,
Wilmington Trust Company (the “Trustee”) and the Agent. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “Act”). The Notes are subject to all terms and provisions of the Indenture, and Holders are referred to the Indenture and the Act for a statement of
those 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 senior unsecured obligations of the Issuer. The aggregate principal amount of Notes that may be authenticated and delivered under the Indenture is unlimited. This Note is one of the 7.75%
Senior Notes, Series A, due 2018 referred to in the Indenture. The Notes include (i) $400,000,000 principal amount of the Issuer’s 7.75% Senior Notes, Series A, due 2018 issued under the Indenture on December 10, 2010 (the
“Initial Notes”), (ii) if and when issued, additional 7.75% Senior Notes, Series A, due 2018 or 7.75% Senior Notes, Series B, due 2018 of the Issuer that may be issued from time to time under the Indenture subsequent to
December 10, 2010 (the “Additional Notes”) as provided in Section 2.1(a) of the Indenture and (iii) if and when issued, the Issuer’s 7.75% Senior Notes, Series B, due 2018 that may be issued from time to
time under the Indenture in exchange for Initial Notes or Additional Notes in an offer registered under the Securities Act as provided in the Registration Rights Agreement (herein called “Exchange Notes”). The Initial Notes, the
Additional Notes and the Exchange Notes shall be considered collectively as a single class for all purposes of the Indenture and the Security Documents. The Indenture imposes certain limitations on the incurrence of indebtedness and issuance of
disqualified stock and preferred stock, the making of restricted payments, the sale of assets and subsidiary stock, the incurrence of certain liens, the making of payments for consents, the entering into of agreements that restrict distribution from
restricted subsidiaries and the consummation of mergers and consolidations. The Indenture also imposes requirements with respect to the provision of financial information and the provision of guarantees of the Notes by certain subsidiaries.

  
 A-5

  

	5.	Guarantees 

 To guarantee
the due and punctual payment of the principal, premium, if any, and interest (including post-filing or post-petition interest) on the Notes and all other amounts payable by the Issuer under the Indenture and the Notes when and as the same shall be
due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors shall unconditionally guarantee (and future guarantors, together with the Subsidiary Guarantors,
shall unconditionally Guarantee), jointly and severally, such obligations on a senior unsecured basis pursuant to the terms of the Indenture. 
  

	6.	Redemption 

 At any time
prior to December 15, 2014, the Issuer may redeem all or a part of the Notes, upon notice as described in Section 5.3 of the Indenture, at a redemption price equal to 100% of the principal amount of Notes redeemed, plus the
Applicable Premium (as defined below) as of, and accrued and unpaid interest and Additional Interest, if any, to but excluding the date of redemption (the “Redemption Date”), subject to the rights of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date. 
 Prior to December 15, 2013, the
Issuer may, at its option, upon notice as described under Section 5.3 of the Indenture, on one or more occasions redeem up to 35% of the aggregate principal amount of the Notes issued under the Indenture at a redemption price equal to
107.75% of the aggregate principal amount of the Notes, plus accrued and unpaid interest and Additional Interest, thereon, if any, to but excluding the applicable Redemption Date, subject to the right of Holders of record on the relevant record date
to receive interest due on the relevant interest payment date, with the net cash proceeds of one or more Equity Offerings; provided that (a) at least 65% of the sum of the aggregate principal amount of Notes originally issued under the
Indenture on the Issue Date and any Additional Notes that are issued under the Indenture after the Issue Date remains outstanding immediately after the occurrence of each such redemption and (b) each such redemption occurs within 90 days of the
date of closing of each such Equity Offering. 
 At any time on or prior to the date that is 180 days after the Issue Date, if a
Change of Control Triggering Event occurs (including, without limitation, for the avoidance of doubt, if the Issuer enters into an agreement or arrangement, whether or not such transaction is completed on or before such date), the Issuer may redeem
all or a part of the Notes upon notice as provided in Section 5.3, at a redemption price equal to 107.75% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest thereon and Additional Interest, if any,
to, but excluding, the applicable Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date; provided that the Issuer shall be permitted to repurchase
Notes pursuant to a notice of redemption issued in accordance with this paragraph only if the transaction constituting a Change of Control Triggering Event has been completed or is completed substantially concurrently with such repurchase. Any such
redemption or notice of redemption may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of any transaction constituting a Change of Control Triggering Event. 

  
 A-6

 Except as set forth above, the Notes shall not be redeemable at the Issuer’s option
prior to December 15, 2014. 
 On and after December 15, 2014, the Issuer may redeem the Notes, in whole or in part,
upon notice as described under Section 5.3 of the Indenture, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest thereon and
Additional Interest, if any, to but excluding the applicable Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the twelve-month
period beginning on December 15 of each of the years indicated in the table below: 
  

					
	 Period
	  	Percentage	 
		
	 2014
	  	 	103.875	% 
	 2015
	  	 	101.938	% 
	 2016 and thereafter
	  	 	100.000	% 

 Any redemption pursuant to
this paragraph 6 shall be made pursuant to the provisions of Sections 5.1 through 5.6 of the Indenture. 

“Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of: 

(1) 1.0% of the principal amount of such Note; and 
 (2) the excess, if any, of: (a) the present value at such Redemption Date of (i) the redemption price of such Note at December 15, 2014 (such redemption price being set forth in
the table appearing above), plus (ii) all required interest payments due on such Note through December 15, 2014 (excluding accrued but unpaid interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate
as of such Redemption Date plus 50 basis points; over (b) the principal amount of such Note. 
 “Treasury
Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release
H.15 (519) that has become publicly available at least two Business Days prior to the Redemption Date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the
period from the Redemption Date to December 15, 2014; provided, however, that if the period from the redemption date to December 15, 2014 is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used. 
 Except as set forth in paragraph 7 below, the Issuer is
not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

  
 A-7

  

	7.	Repurchase Provisions 

 If
a Change of Control occurs, unless the Issuer has previously or concurrently mailed a redemption notice with respect to all the outstanding Notes as described in Section 5.7 of the Indenture, each Holder shall have the right to require
the Issuer to repurchase from each Holder all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus
accrued and unpaid interest, if any, to but excluding the date of purchase, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date as provided in, and subject to the terms
of, the Indenture. 
 In addition, under the circumstances set forth in Section 3.5 of the Indenture, the Issuer
shall be required to make an offer to purchase Notes with the Excess Proceeds of certain Asset Sales. 
  

	8.	Denominations; Transfer; Exchange 

 The Notes shall be issuable only in fully registered form, without coupons, and only in denominations of principal amount of $2,000 and any integral multiple of $1,000 in excess thereof. A Holder may
transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay a sum sufficient to cover any tax and fees required by law or
permitted by the Indenture. The Registrar need not register the transfer of or exchange of any Note (A) for a period beginning (1) 15 days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the
close of business on the day of such mailing or (2) 15 days before an interest payment date and ending on such interest payment date or (B) called for redemption or tendered (and not withdrawn) for repurchases in connection with a
Change of Control Offer, an Asset Sale Offer or other tender offer, except the unredeemed or untendered portion of any Note being redeemed or tendered in part. 
  

	9.	Persons Deemed Owners 

The registered Holder of this Note may be treated as the owner of it for all purposes. 

 

	10.	Unclaimed Money 

 If money
for the payment of principal, premium, if any, or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Issuer at its request unless an abandoned property law designates another Person. After any such
payment, Holders entitled to the money must look only to the Issuer for payment as general creditors unless an abandoned property law designates another person and not to the Trustee for payment. 

 

	11.	Defeasance 

 Subject to
certain exceptions and conditions set forth in the Indenture, the Issuer at any time may terminate some or all of its obligations under the Notes and the Indenture if the Issuer deposits with the Trustee money or Government Securities for the
payment of principal, premium, if any, and interest on the Notes to redemption or maturity, as the case may be. 

  
 A-8

  

	12.	Amendment, Supplement, Waiver 

 Subject to certain exceptions contained in the Indenture, the Indenture and the Notes may be amended, or default may be waived, with the consent of the Holders of a majority in principal amount of the
outstanding Notes. Without notice to or the consent of any Holder, the Issuer, the Subsidiary Guarantors and the Trustee may amend or supplement the Indenture, any Guarantee and the Notes as provided in the Indenture. 

 

	13.	Defaults and Remedies 

 If
an Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer or certain Restricted Subsidiaries) occurs and is continuing, the Trustee by notice to the Issuer, or the
Holders of at least 25% in principal amount of the total outstanding Notes by notice to the Issuer and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of, premium, if any, and accrued and unpaid interest
(including Additional Interest), if any, and any other monetary obligations on all the Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest (including Additional Interest) and any other
monetary obligations shall be due and payable immediately. If a bankruptcy, insolvency or reorganization of the Issuer or certain Restricted Subsidiaries occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest
(including Additional Interest) and any other monetary obligations on all the Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the
Holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. 
  

	14.	Trustee Dealings with the Issuer 

 Subject to certain limitations set forth in the Indenture, The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, Subsidiary
Guarantors or their Affiliates with the same rights it would have if it were not Trustee. 
  

	15.	No Recourse Against Others 

An incorporator, director, officer, employee or stockholder of the Issuer or any Subsidiary Guarantor or any of their parent companies,
solely by reason of this status, shall not have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, the Guarantees or the Indenture or for any claim based on, in respect of or by reason of such obligations or
their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release are a part of the consideration for the issuance of the Notes. 

 

	16.	Authentication 

 This Note
shall not be valid until the Agent manually authenticates the Note. 

  
 A-9

  

	17.	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 entirety), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= custodian) and
U/G/M/A (= Uniform Gift to Minors Act). 
  

	18.	CUSIP, Common Code and ISIN Numbers 

 The Issuer has caused CUSIP, Common Code and ISIN numbers, if applicable, to be printed on the Notes and has directed the Trustee to use CUSIP, Common Code and ISIN numbers, if applicable, in notices of
redemption or purchase 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 or purchase and reliance may be placed only on the other
identification numbers placed thereon. 
  

	19.	Governing Law 

 This Note
shall be governed by, and construed in accordance with, the laws of the State of New York. 
 The Issuer shall furnish to any
Holder upon written request and without charge to the Holder a copy of the Indenture. Requests may be made to: 

Citadel Broadcasting Corporation 

142 W. 57th Street, 11th Floor 
 New York, New York 10019 
 Attention: General Counsel 

Telecopy: 212 887-1675 
 with a copy to: 
 Kirkland & Ellis LLP 

601 Lexington Ave 
 New York, New York 10022 
 Attention: Joshua N. Korff and
Christopher A. Kitchen 
 Telecopy: (212) 446-4900 

E-mail: joshua.korff@kirkland.com; 

    christopher.kitchen@kirkland.com 

  
 A-10

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this
Note to: 
  
  

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

 
  
 (Insert assignee’s social security or tax I.D. No.) 
 and irrevocably appoint
                     agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 
  
  

									
	Date:	  	  
	  		  	Your Signature:	  	  

 

			
	Signature Guarantee:	  	  

		  	 (Signature must be guaranteed)

  

 
 Sign exactly as your name appears on the other side
of this Note. 
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
 The undersigned
hereby certifies that it  ̈ is /  ̈ is not an Affiliate of the Issuer and that, to its knowledge, the proposed transferee
 ̈ is /  ̈ is not an Affiliate of the Issuer. 
 In connection with any transfer or exchange of any of the Notes evidenced by this certificate occurring prior to the date that is one year after the later of the date of original issuance of such Notes
and the last date, if any, on which such Notes were owned by the Issuer or any Affiliate of the Issuer, the undersigned confirms that such Notes are being: 
 CHECK ONE BOX BELOW: 
  

					
	(1)	  	 ̈	  	acquired for the undersigned’s own account, without transfer; or
			
	(2)	  	 ̈	  	transferred to the Issuer; or
			
	(3)	  	 ̈	  	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); or
			
	(4)	  	 ̈	  	transferred pursuant to an effective registration statement under the Securities Act; or

  
 A-11

  

					
	(5)	 	 ̈	  	transferred pursuant to and in compliance with Regulation S under the Securities Act; or
			
	(6)	 	 ̈	  	transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act), that has furnished to the Agent a
signed letter containing certain representations and agreements (the form of which letter appears as Section 2.8 of the Indenture); or
			
	(7)	 	 ̈	  	transferred pursuant to another available exemption from the registration requirements of the Securities Act of 1933, as amended.

Unless one of the boxes is checked, the Agent shall refuse to register any of the Notes evidenced by this certificate in the name of any person other
than the registered Holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Issuer may require, prior to registering any such transfer of the Notes, in its sole discretion, such legal opinions, certifications
and other information as the Issuer may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended, such
as the exemption provided by Rule 144 under such Act. 
  

					
		 		 	  

	 	 	 	 	Signature
	Signature Guarantee:	 		 	
			
	  
	 		 	  

	(Signature must be guaranteed)	 		 	Signature
	
	  

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 
 TO BE COMPLETED BY PURCHASER IF BOX
(1) OR (3) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Note for its own
account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, as amended,
and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request
such information and that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

 

	
	  

	Dated:

  
 A-12

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTES 
 The following increases or decreases in this Global Note have been made: 
  

									
	 Date of
 Exchange
	  	 Amount of decrease in Principal
Amount of this Global
Note
	  	 Amount of increase in Principal
Amount of this Global
Note
	  	
Principal Amount of this Global
Note following such decrease or
increase
	  	 Signature of
authorized
signatory of Trustee or Notes
Custodian

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  
 A-13

 OPTION OF HOLDER TO ELECT PURCHASE 

If you elect to have this Note purchased by the Issuer pursuant to Section 3.5 or 3.10 of the Indenture, check either
box: 
  ̈            ̈ 
 3.5         3.10 

If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 3.5 or 3.10 of the
Indenture, state the amount in principal amount (must be in denominations of $2,000 or an integral multiple of $1,000 in excess thereof):
$                                         
                                and specify the denomination or denominations (which shall
not be less than the minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being repurchased (in the absence of any such specification, one such Note shall be issued for the portion not being
repurchased):                             . 

 

							
	Date:	  	  
	  	Your Signature	  	  

		  		  		  	(Sign exactly as your name appears on the other side of the Note)

  

			
	Signature Guarantee:	  	  

		  	 (Signature must be guaranteed)

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15. 

  
 A-14

 EXHIBIT B: Form of Series B Note 

[FORM OF FACE OF SERIES B NOTE] 
 [Depository Legend, if applicable] 
 [OID Legend, if applicable] 

 

									
	No. [        ]	  		  	Principal Amount $[                    ]
[as
		  		  	revised by the Schedule of Increases and
		  		  	Decreases in Global Note attached
hereto]3
		  		  	CUSIP NO.	  	 	  	

 CITADEL BROADCASTING CORPORATION 

7.75% Senior Notes due 2018 
 Citadel Broadcasting Corporation, a Delaware corporation (the “Issuer”), promises to pay to [Cede & Co.]3, or its registered assigns, the principal sum of
                     Dollars, [as revised by the Schedule of Increases and Decreases in Global Note attached hereto]3, on December 15, 2018. 

Interest Payment Dates: June 15 and December 15 commencing on December 15, 2011 

Record Dates: June 1 and December 1 
 Additional provisions of this Note are set forth on the other side of this Note. 

 

	3	 Insert in Global Notes only 

  
 B-1

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

 

			
	CITADEL BROADCASTING CORPORATION
		
	By	 	  

	Name:	 	
	Title:	 	

  
 B-1

 AGENT’S CERTIFICATE OF 
 AUTHENTICATION 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Agent, certifies 
 that this is one of

 the Notes referred 
 to in the
Indenture. 
  

									
	 By:
	 	  
	 		 		 	
		 	 Authorized Officer
	 		 	Date:                    	 	
					
	 By:
	 	  
	 		 		 	
		 	 Authorized Officer
	 		 		 	

  
 B-2

 [FORM OF REVERSE SIDE OF NOTE] 
 CITADEL BROADCASTING CORPORATION 
 7.75% Senior Notes due 2018 

Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. 

 

	1.	Interest 

 Citadel
Broadcasting Corporation, a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Issuer”), promises to pay interest on the principal amount of this
Note at the rate of 7.75% per annum, which shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from December 10, 2010. The Issuer shall pay interest on overdue principal at the rate
specified herein, and it shall pay interest on overdue installments of interest (including Additional Interest) at the same rate to the extent lawful. Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day
months. 
 The Issuer shall make each interest payment in cash semi-annually in arrears on June 15 and December 15 of
each year, commencing on June 15, 2011, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”) to Holders of record of Notes on the immediately preceding June 1 and
December 1. 
  

	2.	Method of Payment 

 By no
later than 11:00 a.m. (New York City time) on the date on which any principal of, premium, if any, or interest on any Note is due and payable, the Issuer shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay
such principal, premium or interest when due. Interest on any Note which is payable, and is timely paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is
registered at the close of business on the preceding June 1 and December 1 at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.3 of the Indenture. The principal of (and premium, if any) and
interest on the Notes shall be payable at the office or agency of Paying Agent or Registrar designated by the Issuer maintained for such purpose in the United States or at such other office or agency of the Issuer as may be maintained for such
purpose pursuant to Section 2.3 of the Indenture; provided, however, that, at the option of the Issuer, the principal of (and premium, if any) and interest may be paid by (i) check mailed to addresses of the Persons entitled
thereto as such addresses shall appear on the Notes Register or (ii) wire transfer to an account located in the United States maintained by the payee, subject to the last sentence of this paragraph. Payments in respect of Notes represented by a
Global Note (including principal, premium, if any, and interest) shall be made by wire transfer of immediately available funds to the accounts specified by the Holder or Holders thereof. 

  
 B-3

  

	3.	Paying Agent and Registrar 

The Issuer initially appoints Deutsche Bank Trust Company Americas (the “Agent”) as Registrar and Paying Agent for the
Notes. The Issuer may change any Registrar or Paying Agent without prior notice to the Holders. The Issuer or any Subsidiary Guarantor may act as Paying Agent, Registrar or transfer agent. 

 

	4.	Indenture 

 The Issuer
issued the Notes under an Indenture, dated as of December 10, 2010 (as it may be amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), among Citadel Broadcasting Corporation,
Wilmington Trust Company (the “Trustee”) and the Agent. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “Act”). The Notes are subject to all terms and provisions of the Indenture, and Holders are referred to the Indenture and the Act for a statement of
those 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 senior unsecured obligations of the Issuer. The aggregate principal amount of Notes that may be authenticated and delivered under the Indenture is unlimited. This Note is one of the 7.75%
Senior Notes, Series B, due 2018 referred to in the Indenture. The Notes include (i) $400,000,000 principal amount of the Issuer’s 7.75% Senior Notes, Series A, due 2018 issued under the Indenture on December 10, 2010 (the
“Initial Notes”), (ii) if and when issued, additional 7.75% Senior Notes, Series A, due 2018 or 7.75% Senior Notes, Series B, due 2018 of the Issuer that may be issued from time to time under the Indenture subsequent to
December 10, 2010 (the “Additional Notes”) as provided in Section 2.1(a) of the Indenture and (iii) if and when issued, the Issuer’s 7.75% Senior Notes, Series B, due 2018 that may be issued from time to
time under the Indenture in exchange for Initial Notes or Additional Notes in an offer registered under the Securities Act as provided in the Registration Rights Agreement (herein called “Exchange Notes”). The Initial Notes, the
Additional Notes and the Exchange Notes shall be considered collectively as a single class for all purposes of the Indenture and the Security Documents. The Indenture imposes certain limitations on the incurrence of indebtedness and issuance of
disqualified stock and preferred stock, the making of restricted payments, the sale of assets and subsidiary stock, the incurrence of certain liens, the making of payments for consents, the entering into of agreements that restrict distribution from
restricted subsidiaries and the consummation of mergers and consolidations. The Indenture also imposes requirements with respect to the provision of financial information and the provision of guarantees of the Notes by certain subsidiaries.

  

	5.	Guarantees 

 To guarantee
the due and punctual payment of the principal, premium, if any, and interest (including post-filing or post-petition interest) on the Notes and all other amounts payable by the Issuer under the Indenture and the Notes when and as the same shall be
due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors have unconditionally guaranteed (and future guarantors, together with the Subsidiary Guarantors,
shall unconditionally Guarantee), jointly and severally, such obligations on a senior unsecured basis pursuant to the terms of the Indenture. 

  
 B-4

  

	6.	Redemption 

 At any time
prior to December 15, 2014, the Issuer may redeem all or a part of the Notes, upon notice as described under Section 5.3 of the Indenture, at a redemption price equal to 100% of the principal amount of Notes redeemed, plus the
Applicable Premium (as defined below) as of, and accrued and unpaid interest and Additional Interest, if any, to but excluding the date of redemption (the “Redemption Date”), subject to the rights of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date. 
 Prior to December 15, 2013, the
Issuer may, at its option, upon notice as described under Section 5.3 of the Indenture, on one or more occasions redeem up to 35% of the aggregate principal amount of the Notes issued under this Indenture at a redemption price equal to
107.75% of the aggregate principal amount of the Notes, plus accrued and unpaid interest and Additional Interest, thereon, if any, to but excluding the applicable Redemption Date, subject to the right of Holders of record on the relevant record date
to receive interest due on the relevant interest payment date, with the net cash proceeds of one or more Equity Offerings; provided that (a) at least 65% of the sum of the aggregate principal amount of Notes originally issued under the
Indenture on the Issue Date and any Additional Notes that are issued under the Indenture after the Issue Date remains outstanding immediately after the occurrence of each such redemption and (b) each such redemption occurs within 90 days of the
date of closing of each such Equity Offering. 
 At any time on or prior to the date that is 180 days after the Issue Date, if a
Change of Control Triggering Event occurs (including, without limitation, for the avoidance of doubt, if the Issuer enters into an agreement or arrangement, whether or not such transaction is completed on or before such date), the Issuer may redeem
all or a part of the Notes upon notice as provided in Section 5.3, at a redemption price equal to 107.75% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest thereon and Additional Interest, if any,
to, but excluding, the applicable Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date; provided that the Issuer shall be permitted to repurchase
Notes pursuant to a notice of redemption issued in accordance with this paragraph only if the transaction constituting a Change of Control Triggering Event has been completed or is completed substantially concurrently with such repurchase. Any such
redemption or notice of redemption may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of any transaction constituting a Change of Control Triggering Event. 

Except as set forth above, the Notes shall not be redeemable at the Issuer’s option prior to December 15, 2014. 

On and after December 15, 2014, the Issuer may redeem the Notes, in whole or in part, upon notice as described under
Section 5.3 of the Indenture, at the redemption prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth in the table below, plus accrued and unpaid interest thereon and Additional Interest, if any, to
but excluding the applicable Redemption Date, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the twelve-month period beginning on
December 15 of each of the years indicated in the table below: 
  

					
	 Period
	  	Percentage	 
		
	 2014
	  	 	103.875	% 
	 2015
	  	 	101.938	% 
	 2016 and thereafter
	  	 	100.000	% 

  
 B-5

 Any redemption pursuant to this paragraph 6 shall be made pursuant to the provisions of
Sections 5.1 through 5.6 of the Indenture. 
 “Applicable Premium” means, with respect to any
Note on any Redemption Date, the greater of: 
 (1) 1.0% of the principal amount of such Note; and 

(2) the excess, if any, of: (a) the present value at such Redemption Date of (i) the redemption price of such Note at
December 15, 2014 (such redemption price being set forth in the table above), plus (ii) all required interest payments due on such Note through December 15, 2014 (excluding accrued but unpaid interest to the Redemption Date),
computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over (b) the principal amount of such Note. 
 “Treasury Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury securities with a constant maturity (as compiled and
published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the Redemption Date (or, if such Statistical Release is no longer published, any publicly
available source of similar market data)) most nearly equal to the period from the Redemption Date to December 15, 2014; provided, however, that if the period from the redemption date to December 15, 2014 is less than one year, the
weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. 
 Except as set forth in paragraph 7 below, the Issuer is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

 

	7.	Repurchase Provisions 

 If
a Change of Control occurs, unless the Issuer has previously or concurrently mailed a redemption notice with respect to all the outstanding Notes as described in Section 5.7 of the Indenture, each Holder shall have the right to require
the Issuer to repurchase from each Holder all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus
accrued and unpaid interest, if any, to but excluding the date of purchase, subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date as provided in, and subject to the terms
of, the Indenture. 

  
 B-6

 In addition, under the circumstances set forth in Section 3.5 of the Indenture,
the Issuer shall be required to make an offer to purchase Notes with the Excess Proceeds of certain Asset Sales. 
  

	8.	Denominations; Transfer; Exchange 

 The Notes shall be issuable only in fully registered form, without coupons, and only in denominations of principal amount of $2,000 and any integral multiple of $1,000 in excess thereof. A Holder may
transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay a sum sufficient to cover any tax and fees required by law or
permitted by the Indenture. The Registrar need not register the transfer of or exchange of any Note (A) for a period beginning (1) 15 days before the mailing of a notice of an offer to repurchase or redeem Notes and ending at the
close of business on the day of such mailing or (2) 15 days before an interest payment date and ending on such interest payment date or (B) called for redemption or tendered (and not withdrawn) for repurchases in connection with a
Change of Control Offer, an Asset Sale Offer or other tender offer, except the unredeemed or untendered portion of any Note being redeemed or tendered in part. 
  

	9.	Persons Deemed Owners 

The registered Holder of this Note may be treated as the owner of it for all purposes. 

 

	10.	Unclaimed Money 

 If money
for the payment of principal, premium, if any, or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Issuer at its request unless an abandoned property law designates another Person. After any such
payment, Holders entitled to the money must look only to the Issuer for payment as general creditors unless an abandoned property law designates another person and not to the Trustee for payment. 

 

	11.	Defeasance 

 Subject to
certain exceptions and conditions set forth in the Indenture, the Issuer at any time may terminate some or all of its obligations under the Notes and the Indenture if the Issuer deposits with the Trustee money or Government Securities for the
payment of principal, premium, if any, and interest on the Notes to redemption or maturity, as the case may be. 
  

	12.	Amendment, Supplement, Waiver 

 Subject to certain exceptions contained in the Indenture, the Indenture and the Notes may be amended, or default may be waived, with the consent of the Holders of a majority in principal amount of the
outstanding Notes. Without notice to or the consent of any Holder, the Issuer, the Subsidiary Guarantors and the Trustee may amend or supplement the Indenture, any Guarantee and the Notes as provided in the Indenture. 

  
 B-7

  

	13.	Defaults and Remedies 

 If
an Event of Default (other than an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer or certain Restricted Subsidiaries) occurs and is continuing, the Trustee by notice to the Issuer, or the
Holders of at least 25% in principal amount of the total outstanding Notes by notice to the Issuer and the Trustee, may, and the Trustee at the request of such Holders shall, declare the principal of, premium, if any, and accrued and unpaid interest
(including Additional Interest), if any, and any other monetary obligations on all the Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and unpaid interest (including Additional Interest) and any other
monetary obligations shall be due and payable immediately. If a bankruptcy, insolvency or reorganization of the Issuer or certain Restricted Subsidiaries occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest
(including Additional Interest) and any other monetary obligations on all the Notes shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the
Holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. 
  

	14.	Trustee Dealings with the Issuer 

 Subject to certain limitations set forth in the Indenture, The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Issuer, Subsidiary
Guarantors or their Affiliates with the same rights it would have if it were not Trustee. 
  

	15.	No Recourse Against Others 

An incorporator, director, officer, employee or stockholder of the Issuer or any Subsidiary Guarantor or any of their parent companies,
solely by reason of this status, shall not have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, the Guarantees or the Indenture or for any claim based on, in respect of or by reason of such obligations or
their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release are a part of the consideration for the issuance of the Notes. 

 

	16.	Authentication 

 This Note
shall not be valid until the Agent authenticates the Note. 
  

	17.	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 entirety), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= custodian) and
U/G/M/A (= Uniform Gift to Minors Act). 

  
 B-8

  

	18.	CUSIP, Common Code and ISIN Numbers 

 The Issuer has caused CUSIP, Common Code and ISIN numbers, if applicable, to be printed on the Notes and has directed the Trustee to use CUSIP, Common Code and ISIN numbers, if applicable, in notices of
redemption or purchase 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 or purchase and reliance may be placed only on the other
identification numbers placed thereon. 
  

	19.	Governing Law 

 This Note
shall be governed by, and construed in accordance with, the laws of the State of New York. 
 The Issuer shall furnish to any
Holder upon written request and without charge to the Holder a copy of the Indenture. Requests may be made to: 

Citadel Broadcasting Corporation 

142 W. 57th Street, 11th Floor 
 New York, New York 10019 
 Attention: General Counsel 

Telecopy: 212 887-1675 
 with a copy to: 
 Kirkland & Ellis LLP 

601 Lexington Ave 
 New York, New York 10022 
 Attention: Joshua N. Korff and
Christopher A. Kitchen 
 Telecopy: (212) 446-4900 

E-mail: joshua.korff@kirkland.com; 

             christopher.kitchen@kirkland.com

  
 B-9

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this
Note to: 
  
  

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

 
  
 (Insert assignee’s social security or tax I.D. No.) 
 and irrevocably appoint
                     agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 
  
  

									
	Date:	  	  
	  		  	Your Signature:	  	  

 

			
	Signature Guarantee:	  	  

		  	 (Signature must be guaranteed)

  

 
 Sign exactly as your name appears on the other side
of this Note. 
 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations
and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 

  
 B-10

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTES 
 The following increases or decreases in this Global Note have been made: 
  

									
	 Date of
 Exchange
	  	 Amount of decrease in Principal
Amount of this Global
Note
	  	 Amount of increase in Principal
Amount of this Global
Note
	  	
Principal Amount of this Global
Note following such decrease or
increase
	  	 Signature of
authorized
signatory of Trustee or Notes
Custodian

		  		  		  		  	
		  		  		  		  	

  
 B-11

 OPTION OF HOLDER TO ELECT PURCHASE 

If you elect to have this Note purchased by the Issuer pursuant to Section 3.5 or 3.10 of the Indenture, check either
box: 
  ̈            ̈ 
 3.5         3.10 

If you want to elect to have only part of this Note purchased by the Issuer pursuant to Section 3.5 or 3.10 of the
Indenture, state the amount in principal amount (must be in denominations of $2,000 or an integral multiple of $1,000 in excess thereof):
$                                         
                                and specify the denomination or denominations (which shall
not be less than the minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being repurchased (in the absence of any such specification, one such Note shall be issued for the portion not being
repurchased):                             . 

 

							
	Date:	  	  
	  	Your Signature	  	  

		  		  		  	(Sign exactly as your name appears on the other side of the Note)

  

			
	Signature Guarantee:	  	  

		  	 (Signature must be guaranteed)

 The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15. 

  
 B-12

 EXHIBIT C: Form of Indenture Supplement to Add Future Subsidiary Guarantors

 FORM OF SUPPLEMENTAL INDENTURE TO ADD FUTURE SUBSIDIARY 

GUARANTORS 
 This
Supplemental Indenture is entered into as of                      (this “Supplemental Indenture”), by and among [NAME OF
FUTURE GUARANTOR] (the “New Guarantor”), a subsidiary of Citadel Broadcasting Corporation, a Delaware corporation (the “Issuer”), and Wilmington Trust Company, as Trustee under the Indenture referred to below. 

W I T N E S S E T H: 
 WHEREAS, Issuer and the Trustee have heretofore executed and delivered an Indenture dated as of December 10, 2010 (as supplemented, waived or otherwise modified, the “Indenture”), providing
for the issuance of an aggregate principal amount of $400.0 million of 7.75% Senior Notes due 2018 of the Issuer (the “Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the New Guarantor shall execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall
unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the “Guarantee”); and 

WHEREAS, pursuant to Section 9.1 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

ARTICLE I 

DEFINITIONS 
 SECTION 1.1 Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used herein as therein defined. The words
“herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 

  
 D-1

 ARTICLE II 
 REPRESENTATIONS; AGREEMENT TO BE BOUND; GUARANTEE 
 SECTION
2.1 Representations. The New Guarantor represents and warrants to the Trustee as follows: 
 (i) It
is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization. 

(ii) The execution, delivery and performance by it of this Supplemental Indenture have been authorized and approved by all
necessary corporate or limited liability company action on its part. 
 SECTION 2.2 Agreement to be Bound. The New
Guarantor hereby becomes a party to the Indenture as a Subsidiary Guarantor and as such shall have all of the rights and be subject to all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. The New Guarantor agrees to
be bound by all of the provisions of the Indenture applicable to a Subsidiary Guarantor and to perform all of the obligations and agreements of a Subsidiary Guarantor under the Indenture. 

SECTION 2.3 Guarantee. The New Guarantor agrees, on a joint and several basis with all the existing Subsidiary Guarantors, to
fully, unconditionally and irrevocably Guarantee to each Holder of the Notes and the Trustee the Guaranteed Obligations pursuant to Article X of the Indenture on a senior unsecured basis. 

ARTICLE III 
 MISCELLANEOUS 
 SECTION 3.1 Notices. All notices and other
communications to the New Guarantor shall be given as provided in the Indenture to the New Guarantor, at its address set forth below, with a copy to the Issuer as provided in the Indenture for notices to the Issuer. 

SECTION 3.2 Parties. Nothing expressed or mentioned herein is intended or shall be construed to give any Person, firm or
corporation, other than the Holders and the Trustee, any legal or equitable right, remedy or claim under or in respect of this Supplemental Indenture or the Indenture or any provision herein or therein contained. 

SECTION 3.3 Governing Law. This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of
the State of New York. 
 SECTION 3.4 Severability Clause. In case any provision in this Supplemental Indenture
shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity,
illegality or unenforceability. 

  
 D-2

 SECTION 3.5 Ratification of Indenture; Supplemental Indentures Part of
Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of
the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as to the validity or sufficiency of this Supplemental Indenture or
with respect to the recitals contained herein, all of which recitals are made solely by the other parties hereto. 
 SECTION
3.6 Counterparts. The parties hereto may sign one or more copies of this Supplemental Indenture in counterparts, all of which together shall constitute one and the same agreement. 

SECTION 3.7 Headings. The headings of the Articles and the sections in this Supplemental Indenture are for convenience of
reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof. 

  
 D-3

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

			
	[NEW GUARANTOR],
	 as a Subsidiary Guarantor

		
	 By:
	 	  

		 	Name:
		 	Title:
		
		 	[Address]
	
	 WILMINGTON TRUST COMPANY, as
 Trustee

		
	 By:
	 	  

		 	Name:
		 	Title:
	
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as Registrar, Authentication Agent
 and Paying Agent

		
	 By:
	 	  

		 	Name:
		 	Title:
		
	 By:
	 	  

		 	Name:
		 	 Title:

  
 D-4Registration Rights Agreement

 Exhibit 4.2 
 CITADEL BROADCASTING CORPORATION 
 $500,000,000 

7.75% Senior Notes due 2018 
 Registration Rights Agreement 
 This REGISTRATION RIGHTS AGREEMENT
dated December 10, 2010 (this “Agreement”) is entered into by and among Citadel Broadcasting Corporation, a Delaware corporation (the “Company”), the guarantors listed in Schedule 1 hereto (the “Initial
Guarantors”), and J.P. Morgan Securities LLC (“J.P. Morgan”), on behalf of itself and the other initial purchasers (the “Initial Purchasers”) parties to the Purchase Agreement (as defined below).

 The Company, the Guarantors and the Initial Purchasers are parties to the Purchase Agreement, dated December 6, 2010
(the “Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of $500,000,000 aggregate principal amount of the Company’s 7.75% Senior Notes due 2018 (the “Securities”) which
will be guaranteed on an unsecured senior basis by each of the Guarantors. As an inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the Guarantors have agreed to provide to the Initial Purchasers and their
direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 

“Additional Guarantor” shall mean any subsidiary of the Company that issues a Guarantee under the Indenture after the
date of this Agreement. 
 “Business Day” shall mean any day that is not a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to remain closed. 
 “Company” shall
have the meaning set forth in the preamble and shall also include the Company’s successors. 
 “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 
 “Exchange Dates”
shall have the meaning set forth in Section 2(a)(ii) hereof. 

 “Exchange Offer” shall mean the exchange offer by the Company and the
Guarantors of Exchange Securities for Registrable Securities pursuant to Section 2(a) hereof. 
 “Exchange Offer
Registration” shall mean a registration under the Securities Act effected pursuant to Section 2(a) hereof. 

“Exchange Offer Registration Statement” shall mean an exchange offer registration statement on Form S-4 (or, if
applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by
reference therein. 
 “Exchange Securities” shall mean senior notes issued by the Company and guaranteed by the
Guarantors under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to comply with this Agreement)
and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange Offer. 

“FINRA” shall mean the Financial Industry Regulatory Authority, Inc. 

“Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared
by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the Exchange Securities. 
 “Guarantees” shall mean the guarantees of the Securities and guarantees of the Exchange Securities by the Guarantors under the Indenture. 

“Guarantors” shall mean the Initial Guarantors, any Additional Guarantors and any Guarantor’s successor that
Guarantees the Securities. 
 “Holders” shall mean the Initial Purchasers, for so long as they own any
Registrable Securities, and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that, for purposes of Section 4 and Section 5 hereof, the
term “Holders” shall include Participating Broker-Dealers. 
 “Indemnified Person” shall have the
meaning set forth in Section 5(c) hereof. 
 “Indemnifying Person” shall have the meaning set forth in
Section 5(c) hereof. 
 “Indenture” shall mean the Indenture relating to the Securities, dated as of
December 10, 2010, among the Company, the Guarantors and Wilmington Trust Company, as trustee, and as the same may be amended and supplemented from time to time in accordance with the terms thereof. 

  
 2 

 “Initial Purchasers” shall have the meaning set forth in the preamble.

 “Inspector” shall have the meaning set forth in Section 3(a)(xiv) hereof. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

“J.P. Morgan” shall have the meaning set forth in the preamble. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Registrable
Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates
shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any additional Securities under the Indenture
prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this Agreement relates shall be treated together as one class
for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 
 “Notice and Questionnaire” shall mean a notice of registration statement and selling security holder questionnaire distributed to a Holder by the Company upon receipt of a Shelf Request
from such Holder. 
 “Participating Broker-Dealers” shall have the meaning set forth in Section 4(a)
hereof. 
 “Participating Holder” shall mean any Holder of Registrable Securities that has returned a properly
completed and signed Notice and Questionnaire to the Company in accordance with Section 2(b) hereof. 

“Person” shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated
organization, or a government or agency or political subdivision thereof. 
 “Prospectus” shall mean the
prospectus included in, or, pursuant to the rules and regulations of the Securities Act, deemed a part of, a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus
supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in
each case including any document incorporated by reference therein. 
 “Purchase Agreement” shall have the
meaning set forth in the preamble. 
 “Registrable Securities” shall mean the Securities; provided that
the Securities shall cease to be Registrable Securities (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged, sold or otherwise disposed of
pursuant to such Registration Statement, (ii) when such Securities are sold pursuant to Rule 144 under the Securities Act (or any similar provision then in force, but not Rule 144A), (iii) when such Securities cease to be outstanding or
(iv) except in the case of Securities that otherwise remain Registrable Securities and that are held by an Initial Purchaser and that are ineligible to be exchanged in the Exchange Offer, when the Exchange Offer is consummated. 

  
 3 

 “Registration Default” shall mean the occurrence of any of the following:
(i) the Exchange Offer is not completed on or prior to the Target Registration Date, (ii) the Shelf Registration Statement, if required pursuant to Section 2(b)(i) or Section 2(b)(ii) hereof, has not become effective on or prior
to the Target Registration Date, (iii) if the Company receives a Shelf Request pursuant to Section 2(b)(iii), the Shelf Registration Statement required to be filed thereby has not become effective by the later of (a) the Target
Registration Date and (b) 90 days after delivery of such Shelf Request, (iv) the Shelf Registration Statement, if required by this Agreement, has become effective and thereafter ceases to be effective or the Prospectus contained therein
ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month
period or (v) the Shelf Registration Statement, if required by this Agreement, has become effective and thereafter, on more than two occasions in any 12-month period during the Shelf Effectiveness Period, the Shelf Registration Statement ceases
to be effective or the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement. 
 “Registration Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and the Guarantors with this Agreement, including without limitation:
(i) all SEC, stock exchange or FINRA registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and disbursements of one counsel for any
Underwriters or Holders in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) the costs incurred in preparing or assisting in preparing, word processing, printing and distributing any
Registration Statement, any Prospectus, any Free Writing Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance
of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee and its
counsel, (vii) the fees and disbursements of counsel for the Company and the Guarantors and, in the case of a Shelf Registration Statement, the fees and disbursements of one counsel for the Participating Holders (which counsel shall be selected
by the Participating Holders holding a majority of the aggregate principal amount of Registrable Securities held by such Participating Holders and which counsel may also be counsel for the Initial Purchasers), and (viii) the fees and
disbursements of the independent registered public accountants of the Company and the Guarantors, including the expenses of any special audits or “comfort” letters required by or incident to the performance of and compliance with this
Agreement, but excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any,
relating to the sale or disposition of Registrable Securities by a Holder. 

  
 4 

 “Registration Statement” shall mean any registration statement of the
Company and the Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments,
in each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 
 “SEC” shall mean the United States Securities and Exchange Commission. 
 “Securities” shall have the meaning set forth in the preamble. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantors
that covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority in aggregate principal amount of the Securities held by the Participating Holders) on an appropriate form under Rule 415 under the
Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part
thereof, all exhibits thereto and any document incorporated by reference therein. 
 “Shelf Request” shall have
the meaning set forth in Section 2(b) hereof. 
 “Staff” shall mean the staff of the SEC. 

“Target Registration Date” shall mean December 10, 2011, the date that is 365 days after the closing date of the
offering of the Securities. 
 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended
from time to time. 
 “Trustee” shall mean the trustee with respect to the Securities under the Indenture.

 “Underwriter” shall have the meaning set forth in Section 3(e) hereof. 

  
 5 

 “Underwritten Offering” shall mean an offering in which Registrable
Securities are sold to an Underwriter for reoffering to the public. 
 2. Registration Under the Securities Act.
(a) To the extent not prohibited by any applicable law or applicable interpretations of the Staff, the Company and the Guarantors shall use their reasonable best efforts to (x) cause to be filed an Exchange Offer Registration Statement
covering an offer to the Holders to exchange all the Registrable Securities for Exchange Securities and (y) have such Registration Statement become and remain effective until 180 days after the date the Exchange Offer Registration Statement
became effective for use by one or more Participating Broker-Dealers. The Company and the Guarantors shall commence the Exchange Offer promptly after the Exchange Offer Registration Statement is declared effective by the SEC and use their reasonable
best efforts to complete the Exchange Offer not later than 60 days after such effective date. 
 The Company and the Guarantors
shall commence the Exchange Offer by mailing the related Prospectus, appropriate letters of transmittal and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially
the following: 
  

	(i)	that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities validly tendered and not properly withdrawn will be accepted for
exchange; 

  

	(ii)	the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”);

  

	(iii)	that any Registrable Security not tendered will remain outstanding and continue to accrue interest but will not retain any rights under this Agreement, except as
otherwise specified herein; 

  

	(iv)	that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer will be required to (A) surrender such Registrable Security,
together with the appropriate letters of transmittal, to the institution and at the address and in the manner specified in the notice, or (B) effect such exchange otherwise in compliance with the applicable procedures of the depositary for such
Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

  

	(v)	that any Holder will be entitled to withdraw its election, not later than the close of business on the last Exchange Date, by (A) sending to the institution and at
the address specified in the notice, a telegram, facsimile transmission or letter setting forth the name of such Holder, the principal amount of Registrable Securities delivered for exchange, such other information as may be reasonably required to
identify the Securities to be withdrawn and a statement that such Holder is withdrawing its election to have such Securities exchanged or (B) effecting such withdrawal in compliance with the applicable procedures of the depositary for the
Registrable Securities. 

  
 6 

 As a condition to participating in the Exchange Offer, a Holder will be required to
represent to the Company and the Guarantors that (1) any Exchange Securities to be received by it will be acquired in the ordinary course of its business, (2) at the time of the commencement of the Exchange Offer it has no arrangement or
understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (3) it is not an “affiliate” (within the
meaning of Rule 405 under the Securities Act) of the Company or any Guarantor and (4) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of the Exchange Securities. Each Holder
hereby acknowledges and agrees that any broker-dealer and any such Holder using the Exchange Offer to participate in a distribution of the securities to be acquired in the Exchange Offer (1) could not under SEC policy as in effect on the date
of this Agreement rely on the position of the SEC enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the SEC’s letter to
Shearman & Sterling dated July 2, 1993, and similar no action letters, and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction and that
such a secondary resale transaction should be covered by an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange
Securities obtained by such Holder in exchange for Registrable Securities acquired by such Holder directly from the Company. 

As soon as practicable after the last Exchange Date, the Company and the Guarantors shall: 

 

	(I)	accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the Exchange Offer; and 

 

	(II)	deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or portions thereof so accepted for exchange by the Company and issue, and
cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities tendered by such Holder. 

The Company and the Guarantors shall use their reasonable best efforts to complete the Exchange Offer as provided above and shall comply
with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer
does not violate any applicable law or applicable interpretations of the Staff and customary conditions relating to the delivery of Securities or other actions customarily taken by Holders participating in the Exchange Offer or the execution and
delivery of customary documentation relating to the Exchange Offer. 

  
 7 

 (b) In the event that (i) the Company and the Guarantors determine that the Exchange
Offer Registration provided for in Section 2(a) hereof is not available or the Exchange Offer may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of
the Staff, (ii) the Exchange Offer is not for any other reason completed by the Target Registration Date or (iii) upon receipt of a written request (a “Shelf Request”) from any Initial Purchaser representing that it holds
Registrable Securities that are or were ineligible to be exchanged in the Exchange Offer, the Company and the Guarantors shall use their reasonable best efforts to cause to be filed as soon as practicable after such determination, date or Shelf
Request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become effective; provided that no Holder will be
entitled to have any Registrable Securities included in any Shelf Registration Statement, or entitled to use the prospectus forming a part of such Shelf Registration Statement, until such Holder shall have delivered a completed and signed Notice and
Questionnaire and provided such other information regarding such Holder to the Company as is contemplated by Section 3(b) hereof or as otherwise reasonably required or requested in writing by the Company. 

In the event that the Company and the Guarantors are required to file a Shelf Registration Statement pursuant to clause (iii) of the
preceding sentence, the Company and the Guarantors shall use their reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a) hereof with respect to all Registrable
Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities held by the Initial Purchasers after completion
of the Exchange Offer. 
 The Company and the Guarantors agree to use their reasonable best efforts to keep the Shelf
Registration Statement continuously effective until the Securities cease to be Registrable Securities (the “Shelf Effectiveness Period”). The Company and the Guarantors further agree to supplement or amend the Shelf Registration
Statement, the related Prospectus and any Free Writing Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any
other rules and regulations thereunder or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use their reasonable best efforts to cause any such amendment to become effective, if
required, and such Shelf Registration Statement, Prospectus or Free Writing Prospectus, as the case may be, to become usable as soon as thereafter practicable. The Company and the Guarantors agree to furnish to the Participating Holders copies of
any such supplement or amendment promptly after its being used or filed with the SEC. 
 (c) The Company and the Guarantors
shall pay all Registration Expenses in connection with any registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any,
relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 

  
 8 

 (d) An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not
be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective unless it has been declared effective by the SEC or
is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. 
 If a Registration
Default occurs, the interest rate on the Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period beginning on the day immediately following such Registration Default and (ii) an additional
0.25% per annum with respect to each subsequent 90-day period, in each case until but excluding the date such Registration Default ends, up to a maximum increase of 1.00% per annum. A Registration Default ends when the Securities cease to
be Registrable Securities or, if earlier, (1) in the case of a Registration Default under clause (i) of the definition thereof, when the Exchange Offer is completed, (2) in the case of a Registration Default under clause (ii) or
clause (iii) of the definition thereof, when the Shelf Registration Statement becomes effective or (3) in the case of a Registration Default under clause (iv) or clause (v) of the definition thereof, when the Shelf Registration
Statement again becomes effective or the Prospectus again becomes usable. If at any time more than one Registration Default has occurred and is continuing, then, until the next date that there is no Registration Default, the increase in interest
rate provided for by this paragraph shall apply as if there occurred a single Registration Default that begins on the date that the earliest such Registration Default occurred and ends on such next date that there is no Registration Default.

 (e) Without limiting the remedies available to the Initial Purchasers and the Holders, the Company and the Guarantors
acknowledge that any failure by the Company or the Guarantors to comply with their obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there is
no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be required to specifically enforce
the Company’s and the Guarantors’ obligations under Section 2(a) and Section 2(b) hereof. 
 3.
Registration Procedures. (a) In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall promptly: 

(i) prepare and file with the SEC a Registration Statement on the appropriate form under the Securities Act, which form (A) shall be
selected by the Company and the Guarantors, (B) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the Holders thereof and (C) shall comply as to form in all material respects with the
requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use their reasonable best efforts to cause such Registration Statement to become effective and remain effective for the
applicable period in accordance with Section 2 hereof; 

  
 9 

 (ii) prepare and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement and, as so
supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by brokers or
dealers with respect to the Registrable Securities or Exchange Securities; 
 (iii) to the extent any Free Writing Prospectus is
used, file with the SEC any Free Writing Prospectus that is required to be filed by the Company or the Guarantors with the SEC in accordance with the Securities Act and to retain any Free Writing Prospectus not required to be filed; 

(iv) in the case of a Shelf Registration, furnish to each Participating Holder, to counsel for the Initial Purchasers, to counsel for
such Participating Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of each Prospectus, preliminary prospectus or Free Writing Prospectus, and any amendment or supplement
thereto, as such Participating Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the Registrable Securities thereunder; and, subject to Section 3(c) hereof, the Company and the
Guarantors consent to the use of such Prospectus, preliminary prospectus or such Free Writing Prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Participating Holders and any such Underwriters in
connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary prospectus or such Free Writing Prospectus or any amendment or supplement thereto in accordance with
applicable law; 
 (v) in the case of an Exchange Offer Registration Statement, use their reasonable best efforts to register
and qualify the Registrable Securities under all applicable state securities or blue sky laws and, in the case of a Shelf Registration Statement, cooperate with the selling Holders and their counsel to register or qualify the Registrable Securities
under all applicable state securities or blue sky laws of such jurisdictions as any Participating Holder shall reasonably request in writing by the time the applicable Registration Statement becomes effective; cooperate with such Participating
Holders in connection with any filings required to be made with FINRA; and do any and all other acts and things that may be reasonably necessary or advisable to enable each Participating Holder to complete the disposition in each such jurisdiction
of the Registrable Securities owned by such Participating Holder; provided that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign corporation or other entity or as a dealer in securities in any such
jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any such jurisdiction if it is not so subject;

  
 10 

 (vi) notify counsel for the Initial Purchasers and, in the case of a Shelf Registration,
notify each Participating Holder and counsel for such Participating Holders promptly and, if requested by any such Participating Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become effective, when any
post-effective amendment thereto has been filed and becomes effective, when any Free Writing Prospectus has been filed or any amendment or supplement to the Prospectus or any Free Writing Prospectus has been filed, (2) of any request by the SEC
or any state securities authority for amendments and supplements to a Registration Statement, Prospectus or any Free Writing Prospectus or for additional information after the Registration Statement has become effective, (3) of the issuance by
the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to
the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale
of Registrable Securities covered thereby, the Company or any Guarantor receives any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for
such purpose, (5) of the happening of any event during the period a Registration Statement is effective that makes any statement made in such Registration Statement or the related Prospectus or any Free Writing Prospectus untrue in any material
respect or that requires the making of any changes in such Registration Statement or Prospectus or any Free Writing Prospectus in order to make the statements therein not misleading (in the case of the Prospectus, in light of the circumstances under
which they were made) and (6) of any determination by the Company or any Guarantor that a post-effective amendment to a Registration Statement or any amendment or supplement to the Prospectus or any Free Writing Prospectus would be required;

 (vii) use their reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration
Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2) under the Securities Act, including by filing an amendment to such Registration Statement on the proper form, as promptly as
practicable and provide prompt notice to each Holder or Participating Holder of the withdrawal of any such order or such resolution; 
 (viii) in the case of a Shelf Registration, furnish to each Participating Holder, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto
(without any documents incorporated therein by reference or exhibits thereto, unless requested in writing); 
 (ix) in the case
of a Shelf Registration, cooperate with the Participating Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable
Securities to be issued in such denominations and registered in such names (consistent with the provisions of the Indenture) as such Participating Holders may reasonably request at least one Business Day prior to the closing of any sale of
Registrable Securities; 

  
 11 

 (x) upon the occurrence of any event contemplated by Section 3(a)(vi)(5) hereof, use
their reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to the applicable Exchange Offer Registration Statement or Shelf Registration Statement or the related Prospectus or any Free Writing Prospectus
or any document incorporated therein by reference or file any other required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such Prospectus or Free Writing
Prospectus, as the case may be, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the
Company and the Guarantors shall notify the Participating Holders (in the case of a Shelf Registration Statement) and the Initial Purchasers and any Participating Broker-Dealers known to the Company (in the case of an Exchange Offer Registration
Statement) to suspend use of the Prospectus or any Free Writing Prospectus as promptly as practicable after the occurrence of such an event, and such Participating Holders, such Participating Broker-Dealers and the Initial Purchasers, as applicable,
hereby agree to suspend use of the Prospectus or any Free Writing Prospectus, as the case may be, until the Company and the Guarantors have amended or supplemented the Prospectus or the Free Writing Prospectus, as the case may be, to correct such
misstatement or omission; 
 (xi) a reasonable time prior to the filing of any Registration Statement, any Prospectus, any Free
Writing Prospectus, any amendment to a Registration Statement or amendment or supplement to a Prospectus or a Free Writing Prospectus other than any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a
Free Writing Prospectus after initial filing of a Registration Statement, provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, to the Participating Holders and their
counsel) and make such of the representatives of the Company and the Guarantors as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders or their
counsel) available for discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of a Registration Statement, use or file any Prospectus, any Free Writing Prospectus, any amendment of or supplement
to a Registration Statement or a Prospectus or a Free Writing Prospectus, or any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a Free Writing Prospectus, of which the Initial Purchasers and their
counsel (and, in the case of a Shelf Registration Statement, the Participating Holders and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel (and, in the case of a Shelf
Registration Statement, the Participating Holders or their counsel) shall reasonably object in writing within five business days after the receipt thereof; 

  
 12 

 (xii) use reasonable best efforts to obtain a CUSIP number for all Exchange Securities or
Registrable Securities, as the case may be, not later than the initial effective date of a Registration Statement; 
 (xiii) use
reasonable best efforts to cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to
effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use their reasonable best efforts to cause the Trustee to execute, all documents
as may be required to effect such changes and all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner; 
 (xiv) in the case of a Shelf Registration, make available for inspection by a representative of the Participating Holders (an “Inspector”), any Underwriter participating in any
disposition pursuant to such Shelf Registration Statement, any attorneys and accountants designated by a majority in aggregate principal amount of the Securities held by the Participating Holders and any attorneys and accountants designated by such
Underwriter, at reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and its subsidiaries, and cause the respective officers, directors and employees of the Company and the
Guarantors to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf Registration Statement; provided that if any such information is identified by the Company or any
Guarantor as being confidential or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the confidentiality of such information to the extent such action is otherwise not inconsistent
with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter); 
 (xv) in the
case of a Shelf Registration, use their reasonable best efforts to cause all Registrable Securities to be listed on any securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or any
Guarantor are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy applicable listing requirements; 
 (xvi) if reasonably requested by any Participating Holder, promptly include in a Prospectus supplement or post-effective amendment such information with respect to such Participating Holder as such
Participating Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such post-effective amendment as soon as the Company has received notification of the matters to be so included in such
filing; 

  
 13 

 (xvii) in the case of a Shelf Registration, enter into such customary agreements and take
all such other actions in connection therewith (including those reasonably requested by the Holders of a majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or facilitate the
disposition of such Registrable Securities including, but not limited to, an Underwritten Offering and in such connection, (1) to the extent possible, make such representations and warranties to the Participating Holders and any Underwriters of
such Registrable Securities with respect to the business of the Company and its subsidiaries and the Registration Statement, Prospectus, any Free Writing Prospectus and documents incorporated by reference or deemed incorporated by reference, if any,
in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if and when requested, (2) obtain opinions of counsel to the Company and the Guarantors (which counsel
and opinions, in form, scope and substance, shall be reasonably satisfactory to the Participating Holders and such Underwriters and their respective counsel) addressed to each Participating Holder and Underwriter of Registrable Securities, covering
the matters customarily covered in opinions requested in underwritten offerings, (3) obtain “comfort” letters from the independent registered public accountants of the Company and the Guarantors (and, if necessary, any other
registered public accountant of any subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which financial statements and financial data are or are required to be included in the Registration
Statement) addressed to each Participating Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in
“comfort” letters in connection with underwritten offerings, including but not limited to financial information contained in any preliminary prospectus, Prospectus or Free Writing Prospectus and (4) deliver such documents and
certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the continued
validity of the representations and warranties of the Company and the Guarantors made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in an underwriting agreement, it being agreed that the
representations and warranties, opinions of counsel and comfort letters delivered in connection with the initial offering of the Securities are customary; and 
 (xviii) so long as any Registrable Securities remain outstanding, cause each Additional Guarantor upon the creation or acquisition by the Company of such Additional Guarantor, to execute a counterpart to
this Agreement in the form attached hereto as Annex A and to deliver such counterpart to the Initial Purchasers no later than five Business Days following the execution thereof. 

(b) In the case of a Shelf Registration Statement, the Company may require each Holder of Registrable Securities to furnish to the
Company a Notice and Questionnaire and such other information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors may from time to time reasonably request in writing;
provided that if such Holder fails to provide the requested information within 20 Business Days, the Company may exclude such Holder’s Registrable Securities from such Shelf Registration Statement until such time as the information is
provided. 

  
 14 

 (c) Each Participating Holder agrees that, upon receipt of any notice from the Company and
the Guarantors of the happening of any event of the kind described in Section 3(a)(vi)(3) or Section 3(a)(vi)(5) hereof, such Participating Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf
Registration Statement until such Participating Holder’s receipt of the copies of the supplemented or amended Prospectus and any Free Writing Prospectus contemplated by Section 3(a)(x) hereof and, if so directed by the Company and the
Guarantors, such Participating Holder will deliver to the Company and the Guarantors all copies in its possession, other than permanent file copies then in such Participating Holder’s possession, of the Prospectus and any Free Writing
Prospectus covering such Registrable Securities that is current at the time of receipt of such notice. 
 (d) If the Company and
the Guarantors shall give any notice to suspend the disposition of Registrable Securities pursuant to a Registration Statement, the Company and the Guarantors shall extend the period during which such Registration Statement shall be maintained
effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the
supplemented or amended Prospectus or any Free Writing Prospectus necessary to resume such dispositions. The Company and the Guarantors may give any such notice only twice during any 365-day period and any such suspensions shall not exceed 45 days
for each suspension and there shall not be more than two suspensions in effect during any 365-day period. 
 (e) The
Participating Holders who desire to do so may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”)
that will administer the offering will be selected by the Holders of a majority in principal amount of the Registrable Securities included in such offering and reasonably acceptable to the Company. However, each Holder agrees that neither such
Holder nor any Underwriter participating in any disposition pursuant to any Registration Statement on such Holder’s behalf, will make any offer relating to the Registrable Securities that would constitute an Issuer Free Writing Prospectus (as
defined in Rule 433 under the Securities Act) or that would otherwise constitute a “free writing prospectus” (as defined in Rule 405 under the Securities Act) required to be filed by the Company with the SEC or retained by the Company
under Rule 433 of the Securities Act, unless it has obtained the prior written consent of the Company. 
 4. Participation of
Broker-Dealers in Exchange Offer. (a) The Company has been advised that the Staff has taken the position that any broker-dealer that receives Exchange Securities for its own account in the Exchange Offer in exchange for Securities that were
acquired by such broker-dealer as a result of market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a
prospectus meeting the requirements of the Securities Act in connection with any resale of such Exchange Securities. 

  
 15 

 The Company and the Guarantors have been advised that it is the Staff’s position that
if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without
naming the Participating Broker-Dealers or specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy
their prospectus delivery obligation under the Securities Act in connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

(b) In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantors agree to use their
reasonable best efforts to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period ending on the earlier of (i) 180 days after the Exchange Offer Registration Statement becomes effective (as such
period may be extended pursuant to Section 3(d) hereof) and (ii) the date on which each Participating Broker-Dealer is no longer required to deliver a prospectus in connection with market making or other trading activities, in each case to
the extent necessary to ensure that it is available for resales. The Company and the Guarantors further consent to the delivery of such Prospectus (or, to the extent permitted by law, agree to make available) by Participating Broker-Dealers during
such period in connection with the resales contemplated by this Section 4. 
 (c) The Initial Purchasers shall have no
liability to the Company, any Guarantor or any Holder with respect to any request that they may make pursuant to Section 4(b) hereof. 
 5. Indemnification and Contribution. (a) The Company and each Guarantor, jointly and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder, their respective
affiliates, directors and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses,
claims, damages and liabilities (including, without limitation, reasonable legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several,
that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or any omission or alleged omission to state therein a material fact required to be stated
therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free Writing Prospectus or any “issuer
information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state therein a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue
statement or omission made in reliance upon and in conformity with any information relating to any Initial Purchaser, information relating to any Holder furnished to the Company in writing through J.P. Morgan or any selling Holder expressly for use
therein. In connection with any Underwritten Offering permitted by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, their respective affiliates and each Person who controls such
Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Registration Statement, any Prospectus, any Free
Writing Prospectus or any Issuer Information. 

  
 16 

 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the
Company, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of the Company and the Guarantors, each officer of the Company and the Guarantors who signed the Registration Statement and each Person, if any, who
controls the Company, the Guarantors, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph
(a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any
information relating to such Holder furnished to the Company in writing by or on behalf of such Holder expressly for use in any Registration Statement, any Prospectus or any Free Writing Prospectus. 

(c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or
asserted against any Person in respect of which indemnification may be sought pursuant to paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against whom such
indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under paragraph (a) or
(b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the
Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the
Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person
shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the
contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses
available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified
Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding
or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are
incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by J.P. Morgan, (y) for any Holder, its directors and
officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of
any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by
reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by
this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request
and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect
any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes
an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as
to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 

  
 17 

 (d) If the indemnification provided for in paragraphs (a) and (b) above is
unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall
contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors
from the offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the allocation provided by
clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantors on the one hand and the
Holders on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantors on the one
hand and the Holders on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied
by the Company and the Guarantors or by the Holders, as applicable, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

  
 18 

 (f) The Company, the Guarantors and the Holders agree that it would not be just and
equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to in paragraph (e) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include,
subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of
such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint. 
 (g) The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 

(h) The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect
regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or
the Guarantors or the officers or directors of or any Person controlling the Company or the Guarantors, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration
Statement. 
 6. General. 
 (a) No Inconsistent Agreements. The Company and the Guarantors represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company or any Guarantor under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or
after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. 

  
 19 

 (b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantors have obtained the written consent of Holders of at
least a majority in aggregate principal amount of the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any
departure from the provisions of Section 5 hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or consents pursuant to this
Section 6(b) shall be by a writing executed by each of the parties hereto. 
 (c) Notices. Except as otherwise
specified herein, all notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at
the most current address given by such Holder to the Company by means of a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the
Purchase Agreement; (ii) if to the Company and the Guarantors, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this
Section 6(c); and (iii) to such other persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c).
All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if
telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee,
at the address specified in the Indenture. 
 (d) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law
or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of
the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or the Guarantors with
respect to any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

  
 20 

 (e) Third-Party Beneficiaries. Each Holder shall be a third-party beneficiary to the
agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or
advisable to protect its rights or the rights of other Holders hereunder. 
 (f) Counterparts. This Agreement may be
executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(g) Headings. The headings in this Agreement are for convenience of reference only, are not a part of this Agreement and shall not
limit or otherwise affect the meaning hereof. 
 (h) Governing Law. This Agreement, and any claim, controversy or dispute
arising under or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of New York. 
 (j) Entire Agreement; Severability. This Agreement contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with
respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions,
covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated. The Company, the Guarantors and the Initial Purchasers shall endeavor in good faith negotiations to replace
the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, void or unenforceable provisions. 

  
 21 

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

			
	CITADEL BROADCASTING CORPORATION
		
	By	 	 /s/ Randy L. Taylor

	Name:	 	Randy L. Taylor
	Title:	 	Senior Vice President and Chief Financial Officer
	
	Each of the Guarantors listed on Schedule 1 hereto
		
	By	 	 /s/ Randy L. Taylor

	Name:	 	Randy L. Taylor
	Title:	 	Senior Vice President and Chief Financial Officer

Confirmed and accepted as of the date first above written: 
  

			
	J.P. MORGAN SECURITIES LLC
	
	For itself and on behalf of the several Initial Purchasers
		
	By	 	 /s/ Richard Gabriel

		 	Authorized Signatory

 Schedule 1 
 Initial Guarantors 
  

			
	SUBSIDIARY GUARANTOR	  	JURISDICTION OF ORGANIZATION
	Alphabet Acquisition Corp.	  	Delaware
	Atlanta Radio, LLC	  	Delaware
	Aviation I, LLC	  	Nevada
	Chicago FM Radio Assets, LLC	  	Delaware
	Chicago License, LLC	  	Delaware
	Chicago Radio Assets, LLC	  	Delaware
	Chicago Radio Holding, LLC	  	Delaware
	Chicago Radio, LLC	  	Delaware
	Citadel Broadcasting Company	  	Nevada
	DC Radio Assets, LLC	  	Delaware
	DC Radio, LLC	  	Delaware
	Detroit Radio, LLC	  	Delaware
	International Radio, Inc.	  	Delaware
	KLOS Radio, LLC	  	Delaware
	KLOS-FM Radio Assets, LLC	  	Delaware
	KLOS Syndications Assets, LLC	  	Delaware
	LA License, LLC	  	Delaware
	LA Radio, LLC	  	Delaware
	Minneapolis Radio Assets, LLC	  	Delaware
	Minneapolis Radio, LLC	  	Delaware
	Network License, LLC	  	Delaware
	NY License, LLC	  	Delaware
	NY Radio Assets, LLC	  	Delaware
	NY Radio, LLC	  	Delaware
	Radio Assets, LLC	  	Delaware
	Radio Networks, LLC	  	Delaware
	Radio Today Entertainment, Inc.	  	New York
	Radio Watermark, Inc.	  	Delaware
	San Francisco Radio Assets, LLC	  	Delaware
	San Francisco Radio, LLC	  	Delaware
	SF License, LLC	  	Delaware
	WBAP-KSCS Acquisition Partner, LLC	  	Delaware
	WBAP-KSCS Assets, LLC	  	Delaware
	WBAP-KSCS Radio Acquisition, LLC	  	Delaware
	WBAP-KSCS Radio Group, Ltd.	  	Texas
	WPLJ Radio, LLC	  	Delaware
	Oklahoma Radio Partners, LLC	  	Alabama

 Annex A 
 Counterpart to Registration Rights Agreement 
 The undersigned hereby
absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement, dated as of December [ ], 2010, among Citadel Broadcasting Corporation, a Delaware corporation, the guarantors party thereto and J.P.
Morgan Securities LLC, on behalf of itself and the other Initial Purchasers (as defined in such Registration Rights Agreement)) to be bound by the terms and provisions of such Registration Rights Agreement. 

IN WITNESS WHEREOF, the undersigned has executed this counterpart as of
            , 201    . 
  

			
	[GUARANTOR]
		
	By	 	  

	Name:	 	
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}]]