Document:

Exhibit 10.2

      

    AMENDMENT NO. 1 TO CREDIT AND SECURITY AGREEMENT

    THIS AMENDMENT NO. 1 TO CREDIT AND SECURITY AGREEMENT (this "Amendment") is made as of this 4th day of
      October, 2019 but effective as of September 30, 2019 (the "Effective Date"), by and among CELADON GROUP, INC., a Delaware corporation ("Celadon

        Group"), any additional borrower party hereto as designated on the signature pages hereto (each individually as a "Borrower", and collectively as "Borrowers"),
      the Lenders party hereto and MIDCAP FUNDING IV TRUST, a Delaware statutory trust, as successor-by-assignment to MidCap Financial Trust, as Agent for Lenders (in such capacity, "Agent"), and individually, as a
      Lender.

    RECITALS

    A.          Agent and Lenders have previously entered into financing arrangements with
        Borrowers pursuant to that certain Credit and Security Agreement, dated as of July 31, 2019, by and among Agent, Lenders, Borrowers and the other Credit Parties from time to time party thereto (as amended, supplemented, restated or otherwise
        modified from time to time, including by this Amendment, the "Credit Agreement") and the other Financing Documents.

    B.          Borrowers have requested that Agent and Lenders amend the Liquidity
        requirement set forth in Section 6.4 on the date hereof to delay the increase from $10,000,000 to $12,500,000 until October 15, 2019.

    C.          Borrowers have further requested that Agent and Lenders agree to amend the
        Credit Agreement in the manner specified in this Amendment, and Agent and Lenders have agreed to the foregoing requests, in each case on and subject to the terms and conditions set forth herein.

    AGREEMENT

    NOW, THEREFORE, in consideration of the foregoing, the terms and conditions set forth in this
      Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Agent, Lenders, and Borrowers hereby agree as follows:

    1.          Recitals.  This Amendment shall constitute a Financing Document and the Recitals set forth
        above shall be construed as part of this Amendment as if set forth fully in the body of this Amendment.

    2.          Definitions.  All capitalized terms used and not otherwise defined herein shall have their respective meanings as set forth in the
        Credit Agreement.

    3.          Amendments to Credit Agreement.  Subject to the satisfaction of the conditions set forth in Section 8 below, and in reliance
        on the representations and warranties contained in Section 4 below, Section 6.4 of the Credit Agreement is hereby amended and restated in its entirety, as follows:

    6.4          Minimum Liquidity.  Borrower will not permit Liquidity at any time during any period described below to be less than the amount set forth opposite the applicable period in the table below:

    
      
        

    

    
    	
            Period

          	 	
            Liquidity

          
	
            Closing Date through October 15, 2019

          	 	
            $10,000,000

          
	
            October 16, 2019 through December 31, 2019

          	 	
            $12,500,000

          
	
            Fiscal quarter ending March 31, 2020

          	 	
            $12,500,000

          
	
            Fiscal quarter ending June 30, 2020

          	 	
            $12,500,000

          
	
            Fiscal quarter ending September 30, 2020 and each fiscal quarter thereafter

          	 	
            $15,000,000

          

    

    

    4.          Representations and
            Warranties.  Each Borrower represents and warrants to Agent and Lenders that, before and after giving effect to this Amendment:

    (a)          all representations and warranties of the Credit Parties contained in the Financing Documents were true and correct
        in all material respects when made (except to the extent that any such representation or warranty is by its terms subject to a materiality qualification, in which case such representation or warranty was true, correct and complete in all respects)
        and, except to the extent that such representations and warranties relate expressly to an earlier date, continue to be true and correct in all material respects on the date hereof (except to the extent that any such representation or warranty is by
        its terms subject to a materiality qualification, in which case such representation or warranty is true, correct and complete in all respects);

    (b)          the execution and delivery by each Credit Party of this Amendment and the performance by it of the transactions
        herein contemplated (i) are and will be within its corporate powers, (ii) have been authorized by all necessary corporate action, and (iii) are not and will not be in contravention of any order of any court or other agency of government, of law or
        any other indenture, agreement or undertaking to which such Borrower is a party or by which the property of such Credit Party is bound, or be in conflict with, result in a breach of, or constitute (with due notice and/or lapse of time) a default
        under any such indenture, agreement or undertaking or result in the imposition of any lien, charge or encumbrance of any nature on any of the properties of such Credit Party;

    (c)          this Amendment and all assignments, instruments, documents, and agreements executed and delivered in connection
        herewith, are and will be valid, binding, and enforceable against each Credit Party in accordance with their respective terms; and

    (d)          after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing under the Credit
        Agreement or any of the other Financing Documents.

    5.          Reaffirmation of
            Security Interest.  Each Credit Party confirms and agrees that:  (i) all security interests and Liens granted by such Credit Party to Agent continue in full force and effect, and (ii) all
        Collateral remains free and clear of any Liens other than Liens in favor of Agent and Permitted Liens.  Nothing herein contained is intended to impair or limit the validity, priority and extent of Agent's security interest in and Liens upon the
        Collateral.

    
      2

      
        

    

    6.          Enforceability.  This Amendment constitutes the legal, valid and binding obligation of each Credit Party, and is enforceable against each Credit Party in accordance with its terms, except as the enforceability thereof may be
        limited by bankruptcy, insolvency or other similar laws relating to the enforcement of creditors' rights generally and by general equitable principles.

    7.          Costs and Expenses. Borrowers shall be responsible, in accordance with Section 12.14(a)(i) of the Credit Agreement, for the payment of all of Agent's costs and expenses incurred in connection with this Amendment and any
        related documents, including, without limitation, the reasonable fees and expenses of Agent's counsel.  Borrowers hereby authorize Agent to pay all of such costs and expenses by charging same to any account of Borrowers maintained by Agent under
        the Credit Agreement.

    8.          Conditions to Effectiveness.  The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent or concurrent, all in form and substance satisfactory to Agent and, upon the satisfaction of all such conditions, shall be
        deemed effective as of the Effective Date:

    (a)          Agent shall have received a fully executed copy of this Amendment executed by Borrowers, each other Credit Party and
        each Lender together with such other documents, agreements and instruments as Agent may reasonably require or reasonably request;

    (b)          Agent shall have received a fully executed copy of an amendment to the Term Loan Credit Agreement pursuant to Term
        Loan Agent and the Term Loan Lenders are to delay the increase in the liquidity requirement set forth in the Term Loan Credit Agreement to be consistent with the terms of this Amendment;

    (c)          Borrowers shall have paid all fees, costs and expenses due and payable as of the date hereof under the Credit
        Agreement and the other Financing Documents; and

    (d)          after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing or shall
        be caused by the transactions contemplated by this Amendment and the other Financing Documents delivered in connection herewith.

    9.          No Waiver or
            Novation.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a waiver of any right, power or remedy of Agent, nor constitute a waiver of any provision of
        the Credit Agreement, the Financing Documents or any other documents, instruments and agreements executed or delivered in connection with any of the foregoing.  This Amendment (together with any other document executed in connection herewith) is
        not intended to be, nor shall it be construed as, a novation of the Credit Agreement.

    10.          Affirmation.  Except as specifically amended
        pursuant to the terms hereof, the Credit Agreement and all other Financing Documents (and all covenants, terms, conditions and agreements therein) shall remain in full force and effect, and are hereby ratified and confirmed in all respects by each
        Credit Party.  Each Credit Party covenants and agrees to comply with all of the terms, covenants and conditions of the Credit Agreement (as amended hereby) and the Financing Documents, notwithstanding any prior course of conduct, waivers, releases
        or other actions or inactions on Agent's or any Lender's part which might otherwise constitute or be construed as a waiver of or amendment to such terms, covenants and conditions.

    
      3

      
        

    

    11.          Miscellaneous.

    (a)          Reference to the Effect on the Credit Agreement.  Upon the
        effectiveness of this Amendment, each reference in the Credit Agreement to "this Agreement," "hereunder," "hereof," "herein," or words of similar import shall mean and be a reference to the Credit Agreement, as amended by this Amendment.  Except as
        specifically amended above, the Credit Agreement, and all other Financing Documents (and all covenants, terms, conditions and agreements therein), shall remain in full force and effect, and are hereby ratified and confirmed in all respects by
        Borrowers.

    (b)          Incorporation of Credit Agreement Provisions.  The provisions contained in Section 11.6
        (Indemnification), Section 12.6 (Confidentiality), Section 12.8 (Governing Law; Submission to Jurisdiction) and Section 12.9 (Waiver of Jury Trial) of the Credit Agreement are incorporated herein by reference to the same
        extent as if reproduced herein in their entirety.

    (c)          Headings.  Section headings in this Amendment are included for convenience of reference only and shall not
        constitute a part of this Amendment for any other purpose.

    (d)          Counterparts.  This Amendment may be signed in any number of counterparts, each of which shall be an original,
        with the same effect as if the signatures thereto and hereto were upon the same instrument.  Signatures by facsimile or by electronic mail delivery of an electronic version of any executed signature page shall bind the parties hereto.

    [SIGNATURES APPEAR ON FOLLOWING PAGES]

    
      4

      
        

    

    IN WITNESS WHEREOF, intending to be legally bound, and intending that this document constitute an
      agreement executed under seal, the undersigned have executed this Amendment under seal as of the day and year first hereinabove set forth.

     

    

    
      	
              BORROWERS:

            	
              CELADON GROUP, INC., a Delaware corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	
               

            	
              CELADON E-COMMERCE, INC., a Delaware corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              CELADON TRUCKING SERVICES, INC., a New Jersey corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              CELADON REALTY, LLC, a Delaware limited liability company

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            

    

    

    

    

    

    

    

    

    

    Signature Page to Amendment No. 1 to Credit and Security Agreement 
    
      
        

    

    
      	
               

            	
              OSBORN TRANSPORTATION, INC., an Alabama corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              BEE LINE, INC., an Ohio corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              DISTRIBUTION, INC., an Oregon corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              QUALITY COMPANIES LLC, an Indiana limited liability company

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	QUALITY EQUIPMENT LEASING, LLC, a Delaware limited liability company
	 	 	 
	 	By:	/s/ Chase Welsh
	 	Name:	Chase Welsh
	 	Title:	Secretary

    

    

    

    

    

    

    

    

    

    
      

      

      Signature Page to Amendment No. 1 to Credit and Security Agreement  

    
      
        

    

    
      	
               

            	
              QUALITY INSURANCE, LLC, an Indiana limited liability company

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              CELADON LOGISTICS SERVICES, INC., a Delaware corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	
              EAGLE LOGISTICS SERVICES INC., an Indiana corporation

            
	 	 	 
	 	
              By:

            	
              /s/ Chase Welsh

            
	 	
              Name:

            	
              Chase Welsh

            
	 	
              Title:

            	
              Secretary

            
	 	 	 
	 	 	 
	 	VORBAS, LLC, an Ohio corporation
	 	 	 
	 	By:	/s/ Chase Welsh
	 	Name:	Chase Welsh
	 	Title:	Secretary
	 	 	 
	 	 	 
	 	CELADON CANADIAN HOLDINGS, LIMITED, an Ontario corporation
	 	 	 
	 	By:	/s/ Chase Welsh
	 	Name:	Chase Welsh
	 	Title:	Secretary

    

    

    

    

    

    

    

    

    

    
      

      

      Signature Page to Amendment No. 1 to Credit and Security Agreement  

    
      
        

    

    
      	

            	HYNDMAN TRANSPORT LIMITED, an Ontario corporation
	 	 	 
	 	By:	/s/ Chase Welsh
	 	Name:	Chase Welsh
	 	Title:	Secretary
	 	 	 
	 	 	 
	 	TAYLOR EXPRESS, INC., a North Carolina corporation
	 	 	 
	 	By:	/s/ Chase Welsh
	 	Name:	Chase Welsh
	 	Title:	Secretary

    

    

    

    

    

    

    

    

    

    
      

      

      Signature Page to Amendment No. 1 to Credit and Security Agreement  

    
      
        

    

    
      	
              AGENT:

            	
              MIDCAP FUNDING IV TRUST, as Agent

              

            
	 	 	 
	 	By:	Apollo Capital Management, L.P., its investment manager
	 	 	 
	 	By:	Apollo Capital Management GP, LLC, its general partner
	 	 	 
	 	
              By:

            	
              /s/ Maurice Amsellem

            
	 	
              Name:

            	
              Maurice Amsellem

            
	 	
              Title:

            	
              Authorized Signatory

            

    

    

    

    

    

    

    

    

    

    
      

      

      Signature Page to Amendment No. 1 to Credit and Security Agreement  

    
      
        

    

    
      	
               LENDER:

            	
              MIDCAP FINANCIAL TRUST, as a Lender

              

            
	 	 	 
	 	By:	Apollo Capital Management, L.P., its investment manager
	 	 	 
	 	By:	Apollo Capital Management GP, LLC, its general partner
	 	 	 
	 	
              By:

            	
              /s/ Maurice Amsellem

            
	 	
              Name:

            	
              Maurice Amsellem

            
	
               

            	
              Title:

            	
              Authorized Signatory

            

    

    

    

    

    

    
      

      

      Signature Page to Amendment No. 1 to Credit and Security Agreement

     

      

     

      

    

    

    Back to Form 8-KExhibit

Exhibit 4.1

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.  UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.  
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS 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.
BRANDYWINE OPERATING PARTNERSHIP, L.P.
4.100% Guaranteed Notes Due 2024
	
		
	REGISTERED 
No. 2
	PRINCIPAL AMOUNT $100,000,000
CUSIP No. 105340AN3
ISIN No. US105340AN33

BRANDYWINE OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (the “Issuer”, which term includes any successor entity under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., as the nominee of DTC, or registered assigns, the principal sum of ONE HUNDRED MILLION DOLLARS ($100,000,000) on October 1, 2024, unless redeemed on any Redemption Date (as defined on the reverse hereof), and to pay interest on the outstanding principal amount of this Note from September 16, 2014 (or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for), semiannually in arrears on April 1 and October 1 of each year, commencing on April 1, 2020 (the “Interest Payment Dates”), at the rate of 4.100% per annum, until payment of said principal amount has been paid or duly provided for.  Interest on this Note will be computed on the basis of a 360-day year of twelve 30-day months.
The interest so payable and punctually paid or duly provided for on any Interest Payment Date will be paid, as provided in the Indenture, to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the “Regular Record Date” for such payment, which will be the March 15 and September 15 (regardless of 

whether such day is a Business Day) immediately preceding such Interest Payment Date.  Any such interest not so punctually paid or duly provided for on an Interest Payment Date (“Defaulted Interest”) will forthwith cease to be payable to the Holder on such Regular Record Date, and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, with notice whereof given by mail by or on behalf of the Issuer to the Holder of this Note not less than 10 days prior to such Special Record Date (which will be not more than 15 days and not less than 10 days prior to the date of the proposed payment of such Defaulted Interest), or may be paid at any time in any other lawful manner, all as more fully provided for in the Indenture (as defined on the reverse hereof).
Payment of the principal of and Make-Whole Amount (as defined on the reverse hereof), if any, and interest on this Note will be made at the office or agency of the Issuer maintained by the Issuer for such purpose in the Borough of Manhattan, The City of New York, which initially will be the Corporate Trust Office of The Bank of New York Mellon, the Trustee for this Note under the Indenture, located at 240 Greenwich Street, Floor 7E, Attention: Corporate Trust Administration, New York, New York 10286, in such coin or currency of the United States as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Issuer payment of interest may be made by check mailed to the address of the Person entitled thereto as such address will appear in the Security Register or by wire transfer of funds to the Person entitled thereto at a bank account maintained in the United States.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which such further provisions will for all purposes have the same effect as if set forth at this place.
Unless the certificate of authentication hereon has been executed by or on behalf of The Bank of New York Mellon, the Trustee for this Note under the Indenture, or its successor thereunder, by the manual signature of one of its authorized officers, this Note will not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or in facsimile, and an imprint or facsimile of its seal to be imprinted hereon. 
Dated: October 10, 2019
	
						
	[SEAL]
	 
	BRANDYWINE OPERATING 
PARTNERSHIP, L.P.

	 
	 
	 
	 
	 
	 

	 
	 
	 
	By:
	Brandywine Realty Trust, 
as General Partner

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	By:
	 

	 
	 
	 
	 
	 
	Name: Thomas E. Wirth

	 
	 
	 
	 
	 
	Title:    Executive Vice President and Chief Financial Officer

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	Attest:
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	By:
	 
	 
	 
	 
	 

	 
	Name: Jennifer Matthews Rice
	 
	 
	 
	 

	 
	Title:   Senior Vice President, General Counsel and Secretary

CERTIFICATE OF AUTHENTICATION
This is one of the Securities of the series designated therein described in the within-mentioned Indenture.
	
		
	THE BANK OF NEW YORK MELLON, 
as Trustee

	 
	 

	 
	 

	By:
	 

	 
	Authorized Signatory

[Signature page to Global Note Due 2024]

[REVERSE OF NOTE]
BRANDYWINE OPERATING PARTNERSHIP, L.P.
4.100% Guaranteed Notes Due 2024
This Note is one of a duly authorized issue of securities of the Issuer (the “Securities”), issued or to be issued under and pursuant to an Indenture, dated as of October 22, 2004, as supplemented (the “Indenture”), among the Issuer, Brandywine Realty Trust, a Maryland real estate investment trust (the “Parent Guarantor”), and The Bank of New York Mellon, as Trustee (the “Trustee,” which term includes any successor Trustee under the Indenture with respect to the series of Securities of which this Note is a part), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Parent Guarantor, the Trustee and the Holders of the Securities and the terms upon which the Securities are to be authenticated and delivered.  The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest (if any) at different rates, may be subject to different redemption provisions (if any), and may otherwise vary as provided in the Indenture.  This Note is one of a series of Securities designated as the “4.100% Guaranteed Notes due 2024” of the Issuer (the “Notes”), initially limited in aggregate principal amount to $100,000,000.  The Issuer may, from time to time, without the consent of the Holders, issue and sell additional Securities ranking equally with the Notes and otherwise identical in all respects (except for their date of issuance, issue price and the date from which interest payments thereon will accrue) so that such additional Securities will be consolidated and form a single series with the Notes.
The Notes are fully and unconditionally guaranteed as to the due and punctual payment of principal of and Make-Whole Amount, if any, and interest on the Notes by the Parent Guarantor.
All terms used in this Note which are defined in the Indenture will have the meanings assigned to them in the Indenture.
The Issuer may redeem this Note, at any time, in whole or in part, at its option as follows:
If this Note is redeemed before the date that is 90 days prior to the maturity date of this Note, this Note shall be redeemed at a redemption price (the “Redemption Price”) equal to the greater of: (i) 100% of the principal amount of the Note then outstanding to be redeemed, and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Note to be redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 25 basis points (“Make-Whole Amount”), plus, in the case of either (i) or (ii) above, accrued and unpaid interest on the principal amount being redeemed to the date fixed for redemption (the “Redemption Date”).  If this Note is redeemed at any time on or after the date that is 90 days 

before the maturity date of this Note, the Redemption Price will equal 100% of the principal amount of the Note then outstanding to be redeemed, plus accrued and unpaid interest on the principal amount being redeemed to the Redemption Date.
The following terms have the meanings specified below:
“Treasury Rate” means, with respect to any Redemption Date either (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life (as defined below), yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month), or (ii) if such release (or any successor release) is not published during the week preceding the Calculation Date or does not contain such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.  The Treasury Rate will be calculated on the third business day preceding the Redemption Date (the “Calculation Date”).  
“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes.  
“Comparable Treasury Price” means (1) the average of five Reference Treasury Dealer quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer quotations, the average of all such quotations.  
“Independent Investment Banker” means any of Wells Fargo Securities, LLC, Barclays Capital Inc, Jefferies LLC and RBC Capital Markets, LLC, as specified by the Issuer, or, if these firms are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Issuer.  
“Reference Treasury Dealer” means each of (1) a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected by Wells Fargo Securities, LLC and its successors; (2) Barclays Capital Inc., Jefferies LLC and RBC Capital Markets, LLC and their respective successors; provided, however, that, if any of the foregoing ceases to be a Primary Treasury Dealer, the Issuer will substitute therefor another Primary Treasury Dealer; and (3) one other Primary Treasury Dealer selected by the Issuer after consultation with the Independent Investment Banker.  

“Reference Treasury Dealer quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m. (New York City time) on the third business day preceding such Redemption Date.
If notice has been given as provided in the Indenture and funds for the redemption of this Note or any part thereof called for redemption will have been made available on the Redemption Date, this Note or such part thereof will cease to accrue interest on the Redemption Date referred to in such notice and the only right of the Holder will be to receive payment of the Redemption Price.  Notice of any optional redemption of any Notes will be given to the Holder hereof (in accordance with the provisions of the Indenture), at least 30 and not more than 60 days prior to the Redemption Date.  The notice of redemption will specify, among other things, the Redemption Price and the aggregate principal amount of Notes to be redeemed.  In the event of redemption of this Note in part only, a new Note of like tenor for the unredeemed portion hereof and otherwise having the same terms and provisions as this Note will be issued by the Issuer in the name of the Holder hereof upon the presentation and surrender hereof.
This Note is not subject to repayment at the option of the Holder thereof.  In addition, this Note is not entitled to the benefit of, and is not subject to, any sinking fund.
In case an Event of Default with respect to this Note shall have occurred and be continuing, the principal of and Make-Whole Amount, if any, and interest on this Note may automatically become or may be declared, and upon such declaration will become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture.  
The Indenture permits, with certain exceptions as therein provided, the Issuer, the Parent Guarantor and the Trustee with the consent of the Holders of more than 50% in principal amount of the Notes at the time Outstanding, to execute supplemental indentures for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of modifying in any manner the rights of the Holders of the Notes; provided, however, that, without the consent of the Holder of each Security affected thereby, no such supplemental indenture will, among other things: (i) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, (ii) reduce the principal amount of or premium, if any, or interest on any Security; (iii) change the Place of Payment on any Security or the currency or currency unit in which any Security or the principal thereof or premium, if any, or interest thereon is payable; (iv) impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date); (v) reduce or alter the method of computation of any amount payable upon redemption, repayment or purchase of any Security by the Issuer or the Parent Guarantor (or the time when such redemption, repayment or purchase may be made); (vi) modify or affect in any manner adverse to Holders of any Securities the terms of the obligations of the Parent Guarantor in respect of the due and punctual payment of principal of or premium, if any, or interests on any Security; or (vii) reduce the percentage in principal amount of the 

Outstanding Securities of any particular series, the consent of the Holders of which is required for any such supplemental indenture.  The Indenture also permits the Issuer, the Parent Guarantor and the Trustee to enter into one or more supplemental indentures, without the consent of any Holders of the Notes, to, among other things: (i) evidence the succession of another person as obligor or a guarantor under the Indenture; (ii) add covenants of the Issuer or the Parent Guarantor for the benefit of Holders of Securities; (iii) add events of default for the benefit of Holders of Securities; (iv) secure, or add additional guarantees with respect to, the Securities; (v) provide for the acceptance of appointment by a successor trustee; (vi) cure any ambiguity, defect or inconsistency in the Indenture, provided that such action will not adversely affect the interests of Holders of Securities of any series in any material respects; and (vii) supplement any provisions of the Indenture to permit or facilitate defeasance or discharge of any series of Securities provided that such action will not adversely affect the interests of Holders of Securities of any series in any material respect.
The Indenture also contains provisions permitting the Holders of more than 50% in principal amount of the Outstanding Securities of a series, on behalf of the Holders of all of the Securities of such series, to waive compliance by the Issuer and the Parent Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences with respect to a Security, except a default in the payment of principal of or interest, if any, on such Security or a default with respect to a covenant or provision of the Indenture, which cannot be amended without the consent of the Holder of such Security.
This Note is issuable only in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000 in excess thereof.  As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes as requested by the Holder surrendering the same.  If (x) the Depositary is at any time unwilling or unable to continue as depositary and a successor Depositary is not appointed by the Issuer within 90 days after the Issuer receives such notice or becomes aware of such ineligibility, (y) the Issuer delivers to the Trustee an Issuer Order to the effect that this Note will be exchangeable or (z) an Event of Default has occurred and is continuing with respect to the Notes, this Note will be exchangeable for Notes in definitive form and in an equal aggregate principal amount.  Such definitive Notes will be registered in such name or names as the Depositary will instruct the Trustee.
As provided in the Indenture and subject to certain limitations set forth therein and above, the transfer of this Note may be registered on the Security Register of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees.
No reference herein to the Indenture and no provision of this Note or of the Indenture will alter or impair the obligation of the Issuer, which is absolute and unconditional, to 

pay the principal of and the Make-Whole Amount, if any, and interest on this Note at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed, or impair the obligations of the Parent Guarantor in respect of its unconditional guarantee of the aforementioned payments.  
No service charge will be made for any such registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.
Prior to due presentment of this Note for registration of transfer, the Issuer, the Parent Guarantor, the Trustee and any agent of the Issuer, the Parent Guarantor or the Trustee may treat the Person in whose name this Note is registered as the Holder of this Note for all purposes, whether or not this Note be overdue, and none of the Issuer, the Parent Guarantor or the Trustee nor any such agent will be affected by notice to the contrary.
Certain of the Issuer’s and the Parent Guarantor’s obligations under the Indenture with respect to any series of Securities may be terminated if the Issuer or the Parent Guarantor irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on all such Securities, as provided in the Indenture.
No recourse will be had for the payment of the principal of or Make-Whole Amount, if any, or the interest, if any, on this Note, or for any claim based thereon, or upon any obligation, covenant or agreement of the Issuer or the Parent Guarantor in the Indenture, against any incorporator, limited partner, shareholder, trustee, director, officer or employee, as such, past, present of future, of the Issuer, of the Parent Guarantor or of any successor entity to the Issuer or the Parent Guarantor, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment of penalty or otherwise; and all such personal liability is expressly released and waived as a condition of, and as part of the consideration for, the issuance of this Note.
The Indenture and the Notes will be governed by, and construed in accordance with, the laws of the State of New York.

ASSIGNMENT/TRANSFER FORM
FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s) unto (insert Taxpayer Identification No.) ______________________ ______________________________________________________________________________ ______________________________________________________________________________ (Please print or typewrite name and address including postal zip code of assignee) ______________________________________________________________________________ the within Note and all rights thereunder, hereby irrevocably constituting and appointing ________________________________________ attorney to transfer said Note on the books of the Issuer with full power of substitution in the premises.
	
				
	Date:
	 
	 

	 

	 

	 

	 
	 

	 
	NOTICE: The signature of the registered Holder to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatsoever.

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