Document:

EX-4.2

 Exhibit 4.2 

HARMAN FINANCE INTERNATIONAL, S.C.A., 

as Issuer 
 HARMAN
INTERNATIONAL INDUSTRIES, INCORPORATED, 
 as Guarantor 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 

INDENTURE 
 Dated as of
            , 2015 
 DEBT SECURITIES 

 TABLE OF CONTENTS 

 

									
	 Section
	 	 	 	 	  	 Page
	 
			
	 Article I
	 	 Definitions and Incorporation by Reference
	  	 	1	  
	 Section 1.01.
	 	 Definitions
	  	 	1	  
	 Section 1.02.
	 	 Other Definitions
	  	 	5	  
	 Section 1.03.
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	6	  
	 Section 1.04.
	 	 Rules of Construction
	  	 	6	  
			
	 Article II
	 	 The Securities
	  	 	7	  
	 Section 2.01.
	 	 Form, Dating and Terms
	  	 	7	  
	 Section 2.02.
	 	 Denominations
	  	 	9	  
	 Section 2.03.
	 	 Forms Generally
	  	 	9	  
	 Section 2.04.
	 	 Execution, Authentication, Delivery and Dating
	  	 	10	  
	 Section 2.05.
	 	 Registrar and Paying Agent
	  	 	12	  
	 Section 2.06.
	 	 Paying Agent to Hold Money in Trust
	  	 	12	  
	 Section 2.07.
	 	 Holder Lists
	  	 	12	  
	 Section 2.08.
	 	 Transfer and Exchange
	  	 	13	  
	 Section 2.09.
	 	 Mutilated, Destroyed, Lost or Wrongfully Taken Securities
	  	 	13	  
	 Section 2.10.
	 	 Outstanding Securities
	  	 	14	  
	 Section 2.11.
	 	 Cancellation
	  	 	14	  
	 Section 2.12.
	 	 Payment of Interest; Defaulted Interest
	  	 	15	  
	 Section 2.13.
	 	 Temporary Securities
	  	 	16	  
	 Section 2.14.
	 	 Persons Deemed Owners
	  	 	16	  
	 Section 2.15.
	 	 Computation of Interest
	  	 	16	  
	 Section 2.16.
	 	 Global Securities; Book-Entry Provisions
	  	 	16	  
	 Section 2.17.
	 	 CUSIP Numbers, Etc.
	  	 	18	  
	 Section 2.18.
	 	 Original Issue Discount and Foreign-Currency Denominated Securities
	  	 	18	  
			
	 Article III
	 	 Covenants
	  	 	19	  
	 Section 3.01.
	 	 Payment of Securities
	  	 	19	  
	 Section 3.02.
	 	 Reports
	  	 	19	  
	 Section 3.03.
	 	 Maintenance of Office or Agency
	  	 	20	  
	 Section 3.04.
	 	 Corporate Existence
	  	 	20	  
	 Section 3.05.
	 	 Compliance Certificate
	  	 	20	  
	 Section 3.06.
	 	 Statement by Officers as to Default
	  	 	20	  
	 Section 3.07.
	 	 Additional Amounts
	  	 	21	  
	 Section 3.08.
	 	 Calculation of Original Issue Discount
	  	 	21	  
	 Section 3.09.
	 	 Ownership of the Issuer
	  	 	21	  
			
	 Article IV
	 	 Successors
	  	 	21	  
	 Section 4.01.
	 	 Merger, Consolidation or Sale of Assets of the Issuer
	  	 	21	  
	 Section 4.02.
	 	 Merger, Consolidation or Sale of Assets of the Guarantor
	  	 	22	  
			
	 Article V
	 	 Redemption of Securities
	  	 	23	  
	 Section 5.01.
	 	 Applicability of Article
	  	 	23	  
	 Section 5.02.
	 	 Election to Redeem; Notice to Trustee
	  	 	23	  
	 Section 5.03.
	 	 Selection by Trustee of Securities to Be Redeemed
	  	 	23	  
	 Section 5.04.
	 	 Notice of Redemption
	  	 	23	  

  
 i 

									
	 Section 5.05.
		 Deposit of Redemption Price
		 	24	  
	 Section 5.06.
		 Securities Payable on Redemption Date
		 	24	  
	 Section 5.07.
		 Securities Redeemed in Part
		 	25	  
			
	 Article VI
		 Defaults and Remedies
		 	25	  
	 Section 6.01.
		 Events of Default
		 	25	  
	 Section 6.02.
		 Acceleration
		 	26	  
	 Section 6.03.
		 Other Remedies
		 	27	  
	 Section 6.04.
		 Waiver of Past Defaults
		 	27	  
	 Section 6.05.
		 Control by Majority
		 	28	  
	 Section 6.06.
		 Limitation on Suits
		 	28	  
	 Section 6.07.
		 Rights of Holders to Receive Payment
		 	28	  
	 Section 6.08.
		 Collection Suit by Trustee
		 	29	  
	 Section 6.09.
		 Trustee May File Proofs of Claim
		 	29	  
	 Section 6.10.
		 Priorities
		 	29	  
	 Section 6.11.
		 Undertaking for Costs
		 	29	  
	 Section 6.12.
		 Restoration of Rights
		 	30	  
			
	 Article VII
		 Trustee
		 	30	  
	 Section 7.01.
		 Duties of Trustee
		 	30	  
	 Section 7.02.
		 Rights of Trustee
		 	31	  
	 Section 7.03.
		 Individual Rights of Trustee
		 	33	  
	 Section 7.04.
		 Trustee’s Disclaimer
		 	33	  
	 Section 7.05.
		 Notice of Defaults
		 	33	  
	 Section 7.06.
		 Reports by Trustee to Holders
		 	33	  
	 Section 7.07.
		 Compensation and Indemnity
		 	33	  
	 Section 7.08.
		 Replacement of Trustee
		 	34	  
	 Section 7.09.
		 Successor Trustee by Merger
		 	36	  
	 Section 7.10.
		 Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of TIA § 310(a)
		 	36	  
	 Section 7.11.
		 Preferential Collection of Claims Against Issuer
		 	36	  
			
	 Article VIII
		 Legal Defeasance and Covenant Defeasance
		 	36	  
	 Section 8.01.
		 Option to Effect Legal Defeasance or Covenant Defeasance
		 	36	  
	 Section 8.02.
		 Legal Defeasance and Discharge
		 	37	  
	 Section 8.03.
		 Covenant Defeasance
		 	37	  
	 Section 8.04.
		 Conditions to Legal or Covenant Defeasance
		 	38	  
	 Section 8.05.
		 Deposited Cash and Government Securities to be Held in Trust; Other Miscellaneous Provisions
		 	39	  
	 Section 8.06.
		 Repayment to Issuer
		 	39	  
	 Section 8.07.
		 Reinstatement
		 	39	  
			
	 Article IX
		 Amendments
		 	40	  
	 Section 9.01.
		 Without Consent of Holders
		 	40	  
	 Section 9.02.
		 With Consent of Holders
		 	41	  
	 Section 9.03.
		 Compliance with Trust Indenture Act
		 	42	  
	 Section 9.04.
		 Revocation and Effect of Consents and Waivers
		 	42	  
	 Section 9.05.
		 Notation on or Exchange of Securities
		 	43	  
	 Section 9.06.
		 Trustee to Sign Amendments
		 	43	  
			
	 Article X
		 Guarantee
		 	43	  
	 Section 10.01.
		 Unconditional Guarantee
		 	43	  

  
 ii 

									
	 Section 10.02.
		 Execution and Delivery of the Indenture
		 	45	  
	 Section 10.03.
		 Waiver of Subrogation
		 	45	  
	 Section 10.04.
		 Assumption by Guarantor
		 	45	  
	 Section 10.05.
		 No Suspension of Remedies
		 	45	  
			
	 Article XI
		 Satisfaction and Discharge
		 	46	  
	 Section 11.01.
		 Satisfaction and Discharge
		 	46	  
	 Section 11.02.
		 Application of Trust Money
		 	47	  
			
	 Article XII
		 Miscellaneous
		 	47	  
	 Section 12.01.
		 Trust Indenture Act Controls
		 	47	  
	 Section 12.02.
		 Notices
		 	47	  
	 Section 12.03.
		 Communication by Holders with other Holders
		 	48	  
	 Section 12.04.
		 Certificate and Opinion as to Conditions Precedent
		 	48	  
	 Section 12.05.
		 Statements Required in Certificate or Opinion
		 	49	  
	 Section 12.06.
		 When Securities Disregarded
		 	49	  
	 Section 12.07.
		 Rules by Trustee, Paying Agent and Registrar
		 	49	  
	 Section 12.08.
		 Legal Holidays
		 	49	  
	 Section 12.09.
		 GOVERNING LAW; WAIVER OF JURY TRIAL
		 	49	  
	 Section 12.10.
		 No Recourse Against Others
		 	50	  
	 Section 12.11.
		 Successors
		 	50	  
	 Section 12.12.
		 Multiple Originals
		 	50	  
	 Section 12.13.
		 Severability
		 	50	  
	 Section 12.14.
		 No Adverse Interpretation of Other Agreements
		 	50	  
	 Section 12.15.
		 Table of Contents; Headings
		 	50	  
	 Section 12.16.
		 Force Majeure
		 	50	  
	 Section 12.17.
		 U.S.A. Patriot Act
		 	50	  

  
 iii 

 CROSS-REFERENCE TABLE 

 

					
	TIA	 	Indenture
	Section	 	Section
	310	    	(a)	 	7.10
		    	(b)	 	7.08; 7.10
		    	(c)	 	N.A.
	311	    	(a)	 	7.11
		    	(b)	 	7.11
		    	(c)	 	N.A.
	312	    	(a)	 	N.A.
		    	(b)	 	12.03
		    	(c)	 	12.03
	313	    	(a)	 	7.06
		    	(b)	 	7.06
		    	(c)	 	7.06
		    	(d)	 	N.A.
	314	    	(a)	 	3.02; 3.05
		    	(b)	 	N.A.
		    	(c)	 	N.A.
		    	(d)	 	N.A.
		    	(e)	 	N.A.
		    	(f)	 	N.A.
	315	    	(a)	 	N.A.
		    	(b)	 	N.A.
		    	(c)	 	N.A.
		    	(d)	 	N.A.
		    	(e)	 	N.A.
	316	    	(a) (last sentence)	 	N.A.
		    	(a)(1)(A)	 	N.A.
		    	(a)(1)(B)	 	N.A.
		    	(a)(2)	 	N.A.
		    	(b)	 	N.A.
	317	    	(a)(1)	 	N.A.
		    	(a)(2)	 	N.A.
		    	(b)	 	N.A.
	318	    	(a)	 	N.A.

 N.A. Means Not Applicable. 

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

  
 iv 

 THIS INDENTURE, dated as of , 2015, is entered into by and among HARMAN FINANCE
INTERNATIONAL, S.C.A., a corporate partnership limited by shares (société en commandite par actions) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 6, rue Eugène Ruppert,
L-2453 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg register of commerce and companies under number B 196.390 (the “Issuer”), HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED, a Delaware
corporation (the “Guarantor”), and U.S. BANK NATIONAL ASSOCIATION, as trustee (the “Trustee”). 

W I T N E S S E T H: 

WHEREAS, the Issuer may from time to time duly authorize the issue of its unsecured debentures, notes or other evidences of
indebtedness to be issued in one or more series (the “Securities”) up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture; 

WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture to provide, among other things, for the
authentication, delivery and administration of the Securities; 
 WHEREAS, the Guarantor has duly authorized the execution and
delivery of this Indenture to provide for the full and unconditional guarantee of the Issuer’s obligations on the Securities and under this Indenture and to provide for the Guarantor’s other obligations in respect of the Securities and
this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid indenture and agreement according to its terms
have been done; 
 NOW, THEREFORE: 

In consideration of the premises and the purchases of the Securities by the holders thereof, the Issuer, the Guarantor and the Trustee
mutually covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Securities as follows: 

Article I. 
 Definitions
and Incorporation by Reference 
 Section 1.01. Definitions. 

“Additional Amounts” means any additional amounts required by the express terms of a Security or by or pursuant to a
Board Resolution, under circumstances specified therein or pursuant thereto, to be paid by the Issuer or the Guarantor with respect to certain taxes, assessments or other governmental charges imposed on certain Holders and that are owing to those
Holders. 
 “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,” as used with respect to any Person, means 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. For purposes of this definition, the terms “controlling,” “controlled
by” and “under common control with” have correlative meanings. 
 Senior Indenture 

  
 1 

 “Bankruptcy Law” means Title 11, United States Code or any similar
Federal or state law for the relief of debtors. 
 “Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on
behalf of such board; 
 (2) with respect to a partnership, the board of directors or managers, as the case may be, of the
general partner of the partnership; 
 (3) with respect to a limited liability company, the manager, managers, managing
member or members or any controlling committee of managers or managing members thereof, as the case may be; and 
 (4) with
respect to any other Person, the board or committee of such Person serving a similar function. 
 “Board Resolution”
means a copy of a resolution certified by a Vice President, the Secretary or an Assistant Secretary of the applicable Person or, in the case of the Issuer, by a Manager of the General Partner of the Issuer, 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 that is not a Saturday, Sunday or other day on which banking institutions in New York,
New York or another place of payment on the Securities of the applicable series are authorized or required by law to close. 

“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 corporate stock; 
 (3) in the case of a partnership or limited liability company,
partnership interests (whether general or limited) or membership interests; 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, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such
debt securities include any right of participation with Capital Stock. 
 “Code” means the Internal Revenue Code of
1986, as amended. 
 “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official
under any Bankruptcy Law. 
 “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. 

  
 2 

 “Depositary” means, with respect to the Securities of any series issuable
or issued in whole or in part in global form, the Person specified pursuant to Section 2.01 hereof as the initial Depositary with respect to the Securities of that series, until a successor shall have been appointed and become such pursuant to
the applicable provision of this Indenture, and thereafter “Depositary” shall mean or include that successor. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United
States as at the time shall be legal tender for the payment of public and private debt. 
 “DTC” means The
Depository Trust Company, its nominees and their respective successors and assigns, or such other depositary institution hereinafter appointed by the Issuer. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States. 

“General Partner” means Harman Finance International GP S.à r.l., a private limited liability company
(société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg having its registered office at 6, rue Eugène Ruppert, L-2453 Luxembourg,
Grand Duchy of Luxembourg, and registered with the Luxembourg register of commerce and companies under number B 196.380, acting as general partner and manager of the Issuer. 

“Global Securities” of any series means a Security of that series that is issued in global form in the name of the
Depositary with respect thereto or its nominee. 
 “Government Securities” means direct obligations of, or
obligations guaranteed by, the United States of America for the payment of which obligations or guarantee the full faith and credit of the United States of America is pledged. 

“Guarantee” means the guarantee of the Issuer’s Obligations in respect of the Securities and this Indenture by
the Guarantor pursuant to Article X. 
 “Guarantor” means Harman International Industries, Incorporated, a Delaware
corporation, and subject to Article IV, its successors and assigns. 
 “Guarantor Order” and
“Guarantor Request” mean, respectively, a written order or request signed in the name of the Guarantor by two Officers of the Guarantor, and delivered to the Trustee. 

“Holder” means a Person in whose name a Security is registered in the applicable Securities Register. 

“Indenture” means this Indenture as amended or supplemented from time to time by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this
instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of any particular series of Securities thereof established as contemplated by Section 2.01. 

“Interest Payment Date,” when used with respect to any Security, shall have the meaning assigned to that term in the
Security as contemplated by Section 2.01. 

  
 3 

 “Issuer” has the meaning ascribed to it in the first introductory
paragraph of this Indenture, and subject to Article IV, its successors and assigns. 
 “Issuer Order” and
“Issuer Request” mean, respectively, a written order or request signed in the name of the Issuer by any Officer of the Issuer, and delivered to the Trustee. 

“Manager” means any manager of the General Partner of the Issuer. 

“Maturity” means, with respect to any Security, the date on which the principal of that Security or an installment of
principal becomes due and payable as therein or herein provided, whether at the Stated Maturity thereof, or by declaration of acceleration, call for redemption or otherwise. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other
liabilities payable under the documentation governing any indebtedness. 
 “Officer” means (i) in the case of
the Issuer, any Manager of the General Partner of the Issuer and (ii) in the case of the Guarantor, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, any Executive
Vice President, Senior Vice President, or Vice President, the Treasurer, any comptroller, any Assistant Treasurer, the Secretary or any Assistant Secretary. 

“Officers’ Certificate” means a certificate signed by (i) in the case of the Issuer, any Manager of the
General Partner of the Issuer and, (ii) in the case of the Guarantor, two Officers, at least one of whom shall be the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, or the
comptroller that meets the requirements of Section 12.04 and 12.05. 
 “Opinion of Counsel” means a written
opinion from legal counsel of the Issuer or the Guarantor, as applicable, who is reasonably acceptable to the Trustee that meets the requirements of Section 12.04 and 12.05. The counsel may be an employee of, or in-house counsel to, the Issuer
or the Guarantor, as applicable. 
 “Original Issue Discount Security” means any Security that provides for an
amount less than the principal amount thereof to be due and payable on a declaration of acceleration of the Maturity thereof pursuant to Section 6.02. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Redemption Date” when used
with respect to any Security to be redeemed, in whole or in part, means the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price” means, with respect to any Security to be redeemed, the price at which it is to be redeemed
pursuant to this Indenture. 
 “SEC” means the Securities and Exchange Commission. 

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

“Securities Act” means the Securities Act of 1933, as amended. 

  
 4 

 “Securities Register” means the register of Securities, maintained by the
Registrar, pursuant to Section 2.05. 
 “Security Custodian” means, with respect to Securities of a series
issued in global form, the Trustee for Securities of that series, as custodian with respect to the Securities of that series, or any successor entity thereto. 

“Significant Subsidiary” means any Subsidiary of the Guarantor, which, at the time of determination, 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 date of this Indenture. 

“Stated Maturity” means, with respect to any installment of interest or principal on any series of indebtedness, the
date on which the payment of interest or principal was scheduled to be paid in the documentation governing such indebtedness, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the
date originally scheduled for the payment thereof. 
 “Subsidiary” of any specified Person means any Person of which
more than 50% of the outstanding Voting Stock is owned, directly or indirectly, by such Person or by one or more other Subsidiaries of such Person. 

“TIA” or “Trust Indenture Act,” except as otherwise provided in Section 9.03, means the
Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa through 77bbbb), as in effect on the date hereof. 
 “Trust
Officer” shall mean, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee 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. 
 “Trustee” means the Person named as such above until a successor replaces it in
accordance with the applicable provisions of this Indenture, and thereafter “Trustee” means each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee”
as used with respect to the Securities of any series means the Trustee with respect to Securities of that series. 

“Voting Stock” of any specified 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. 
 Section 1.02. Other Definitions. 

 

			
	 Term
	  	 Defined in Section

	“Agent Members”	  	Section 2.16
	“Corporate Trust Office”	  	Section 3.03
	“Covenant Defeasance”	  	Section 8.03
	“Defaulted Interest”	  	Section 2.12
	“Event of Default”	  	Section 6.01
	“Exchange Rate”	  	Section 2.18
	“Guarantor Surviving Entity”	  	Section 4.02
	“Issuer Surviving Entity”	  	Section 4.01
	“Legal Defeasance”	  	Section 8.02
	“Legal Holiday”	  	Section 12.08

  
 5 

			
	 Term
	  	 Defined in Section

	“Paying Agent”	  	Section 2.05
	“protected purchaser”	  	Section 2.09
	“Registrar”	  	Section 2.05
	“Special Interest Payment Date”	  	Section 2.12(a)
	“Special Record Date”	  	Section 2.12(a)

 Section 1.03. 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 Securities. 

“indenture security holder” means a Holder of a Security. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on any series of Securities means the Issuer, the Guarantor and any other obligor on such series of Securities.

 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 rules promulgated under the TIA have the meanings assigned to them by such definitions. 
 Section 1.04. 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 or the Guarantor, as applicable, dated such date prepared in accordance with GAAP; and 

(7) provisions apply to successive events and transactions. 

  
 6 

 Article II. 

The Securities 

Section 2.01. Form, Dating and Terms. The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board
Resolution of the Issuer, and set forth, or determined in the manner provided, in an Officers’ Certificate of the Issuer or in an Issuer Order, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of
any series: 
 (1) the title of the Securities of the series (which shall distinguish the Securities of the series from the
Securities of all other series); 
 (2) if there is to be a limit, the limit upon the aggregate principal amount of the
Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to
Section 2.08, Section 2.09, Section 2.13, Section 2.16, Section 5.07 or Section 9.05 and except for any Securities that, pursuant to Section 2.04 or Section 2.16, are deemed never to have been authenticated
and delivered hereunder); provided, however, that unless otherwise provided in the terms of the series, the authorized aggregate principal amount of such series may be increased before or after the issuance of any Securities of the
series by a Board Resolution of the Issuer (or action pursuant to a Board Resolution of the Issuer) to such effect; 
 (3)
whether any Securities of the series are to be issuable initially in temporary global form and whether any Securities of the series are to be issuable in permanent global form, as Global Securities or otherwise, and, if so, whether beneficial owners
of interests in any such Global Security may exchange such interests for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner
provided in Section 2.16, and the initial Depositary and Security Custodian, if any, for any Global Security or Securities of such series; 

(4) the manner in which any interest payable on a temporary Global Security on any Interest Payment Date will be paid if other
than in the manner provided in Section 2.12; 
 (5) the date or dates on which the principal of and premium (if any) on
the Securities of the series is payable or the method of determination thereof; 
 (6) the rate or rates, or the method of
determination thereof, at which the Securities of the series shall bear interest, if any, whether and under what circumstances Additional Amounts with respect to such Securities shall be payable, the date or dates from which such interest shall
accrue, the Interest Payment Dates on which such interest shall be payable and the record date for the interest payable on any Securities on any Interest Payment Date, or if other than provided herein, the Person to whom any interest on Securities
of the series shall be payable; 

  
 7 

 (7) the place or places where, subject to the provisions of Section 3.03,
the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities of the series shall be payable; 

(8) the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and
the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Issuer, if the Issuer is to have that option, and the manner in which the Issuer must exercise any such option, if different from
those set forth herein; 
 (9) [Reserved]; 

(10) the obligation, if any, of the Issuer to redeem, purchase or repay Securities of the series pursuant to any sinking fund
or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions upon which Securities of the series
shall be redeemed, purchased or repaid in whole or in part pursuant to such obligation; 
 (11) if other than denominations
of $2,000 and any integral multiple of $1,000 in excess thereof, the denomination in which any Securities of that series shall be issuable; 

(12) if other than Dollars, the currency or currencies (including composite currencies) or the form, including equity
securities, other debt securities (including Securities), warrants or any other securities or property of the Issuer, the Guarantor or any other Person, in which payment of the principal of, premium (if any) and interest on and any Additional
Amounts with respect to the Securities of the series shall be payable; 
 (13) if the principal of, premium (if any) or
interest on or any Additional Amounts with respect to the Securities of the series are to be payable, at the election of the Issuer or a Holder thereof, in a currency or currencies (including composite currencies) other than that in which the
Securities are stated to be payable, the currency or currencies (including composite currencies) in which payment of the principal of, premium (if any) and interest on and any Additional Amounts with respect to Securities of such series as to which
such election is made shall be payable, and the periods within which and the terms and conditions upon which such election is to be made; 

(14) if the amount of payments of principal of, premium (if any) and interest on and any Additional Amounts with respect to the
Securities of the series may be determined with reference to any commodities, currencies or indices, values, rates or prices or any other index or formula, the manner in which such amounts shall be determined; 

(15) if other than the entire principal amount thereof, the portion of the principal amount of Securities of the series that
shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.02; 
 (16) any
additional means of satisfaction and discharge of this Indenture and any additional conditions or limitations to discharge with respect to Securities of the series and the related Guarantee, if any, pursuant to Article VIII or any modifications of
or deletions from such conditions or limitations; 

  
 8 

 (17) any deletions or modifications of or additions to the Events of Default set
forth in Section 6.01 or covenants of the Issuer or the Guarantor set forth in Article III pertaining to the Securities of the series; 

(18) any restrictions or other provisions with respect to the transfer or exchange of Securities of the series, which may
amend, supplement, modify or supersede those contained in this Article II; 
 (19) if the Securities of the series are to be
convertible into or exchangeable for capital stock, other debt securities (including Securities), warrants, other equity securities or any other securities or property of the Issuer, the Guarantor or any other Person, at the option of the Issuer or
the Holder or upon the occurrence of any condition or event, the terms and conditions for such conversion or exchange; 

(20) if applicable, that the Securities of the series, in whole or any specified part, shall not be defeasible pursuant to
Section 8.02 or Section 8.03 or both such Sections, and, if such Securities may be defeased, in whole or in part, pursuant to either or both such Sections, any provisions to permit a pledge of obligations other than Government Securities
(or the establishment of other arrangements) to satisfy the requirements of Section 8.04(1) for defeasance of such Securities and, if other than by a Board Resolution of the Issuer, the manner in which any election by the Issuer to defease such
Securities shall be evidenced; 
 (21) any terms of the Guarantee with respect to the Securities of the series in addition to
those set forth in Article X, or any exceptions to or changes to those set forth in Article X; and 
 (22) any other terms of
the series (which terms shall not be prohibited by the provisions of this Indenture). 
 All Securities of any one series shall be
substantially identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 2.03) set forth, or determined in the manner provided, in the
Officers’ Certificate of the Issuer or Issuer Order referred to above or in any such indenture supplemental hereto. 
 If any of the
terms of the series are established by action taken pursuant to a Board Resolution of the Issuer, a copy of an appropriate record of such action, together with such Board Resolution, shall be set forth in an Officers’ Certificate of the Issuer
or certified by any Manager of the General Partner of the Issuer and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate of the Issuer or Issuer Order setting forth the terms of the series. 

Section 2.02. Denominations. The Securities of each series shall be issuable in such denominations as shall be specified as
contemplated by Section 2.01. In the absence of any such provisions with respect to the Securities of any series, the Securities of such series denominated in Dollars shall be issuable in denominations of $2,000 and any integral multiples of
$1,000 in excess thereof. 
 Section 2.03. Forms Generally. The Securities of each series shall be in fully registered form and
in substantially such form or forms (including temporary or permanent global form) established by or 

  
 9 

 
pursuant to a Board Resolution or in one or more indentures supplemental hereto. The Securities may have notations, legends or endorsements required by law, securities exchange rules, the
Issuer’s certificate of incorporation, bylaws or other similar governing documents, agreements to which the Issuer is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuer). A
copy of the Board Resolution of the Issuer establishing the form or forms of Securities of any series shall be delivered to the Trustee at or prior to the delivery of the Issuer Order contemplated by Section 2.04 for the authentication and
delivery of such Securities. 
 The definitive Securities of each series shall be printed, lithographed or engraved on steel engraved
borders or may be produced in any other manner, all as determined by the Officers executing such Securities, as evidenced by their execution thereof. 

The Trustee’s certificate of authentication shall be in substantially the following form: 

“This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. Bank National Association, as Trustee
		
	By:		  

	“Authorized Signatory”

 Section 2.04. Execution, Authentication, Delivery and Dating. The Securities shall be
executed on behalf of the Issuer by an Officer of the Issuer. The signature of such Officer on the Securities may be by manual or facsimile signature (or other electronic means). 

If an Officer of the Issuer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the
Security shall be valid nevertheless. 
 A Security shall not be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose until authenticated by the manual signature of an authorized signatory of the Trustee, which signature shall be conclusive evidence that the Security has been authenticated under this Indenture. Notwithstanding the foregoing, if any
Security has been authenticated and delivered hereunder but never issued and sold by the Issuer, and the Issuer delivers such Security to the Trustee for cancellation as provided in Section 2.11, together with a written statement (which need
not comply with Section 12.05 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by the Issuer, for all purposes of this Indenture such Security shall be deemed never to have been
authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 
 At any time and from time to time
after the execution and delivery of this Indenture, the Issuer may deliver Securities of any series executed by the Issuer to the Trustee for authentication, and the Trustee shall authenticate and deliver such Securities for original issue upon an
Issuer Order for the authentication and delivery of such Securities or pursuant to such procedures acceptable to the Trustee as may be specified from time to time by Issuer Order. Such order shall specify the amount of the Securities to be
authenticated, the date on which the original issue of Securities is to be authenticated, the name or names of the initial Holder or Holders and any other terms of the Securities of such series not otherwise determined. If provided for in such
procedures, such Issuer Order may authorize (1) authentication and delivery of Securities of such series for original issue from time to time, with certain terms (including, without limitation, the Maturity date or dates, original issue date or
dates and interest rate or rates) that differ from Security to Security and (2) may authorize authentication and delivery pursuant to oral or electronic instructions from the Issuer or its duly authorized agent, which instructions shall be
promptly confirmed in writing. 

  
 10 

 If the form or terms of the Securities of the series have been established in or pursuant to one
or more Board Resolutions of the Issuer as permitted by Section 2.01, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall receive (in addition
to the Issuer Order referred to above and the other documents required by Section 12.04) and (subject to Section 7.01) shall be fully protected in conclusively relying upon: 

(a) an Officers’ Certificate of the Issuer setting forth the Board Resolution and, if applicable, an appropriate record of
any action taken pursuant thereto, as contemplated by the last paragraph of Section 2.01; and 
 (b) an Opinion of
Counsel to the effect that: 
 (i) the form of such Securities has been established in conformity with the provisions of this
Indenture; 
 (ii) the terms of such Securities have been established in conformity with the provisions of this Indenture;

 (iii) that (i) such Securities, when authenticated and delivered by the Trustee and issued by the Issuer in the
manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Issuer, enforceable against the Issuer, in accordance with their respective terms and (ii) the Guarantee of such
Securities by the Guarantor, when such Securities have been authenticated and delivered by the Trustee and issued by the Issuer in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute the valid and binding
obligation of the Guarantor, enforceable against the Guarantor, in each case, except as the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or transfer or other similar
laws in effect from time to time affecting the rights of creditors generally, and the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and 

(iv) that all laws and requirements in respect of the execution and delivery by the Issuer of such Securities have been
complied with. 
 If all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an
Officers’ Certificate of the Issuer and Opinion of Counsel at the time of issuance of each such Security, but such Officers’ Certificate and Opinion of Counsel shall be delivered at or before the time of issuance of the first Security of
the series to be issued. 
 The Trustee shall not be required to authenticate such Securities if the issuance of such Securities pursuant to
this Indenture would affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee. 

The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate Securities. Unless limited by the terms of such
appointment, any such authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same
rights as an Agent to deal with the Issuer, the Guarantor or an Affiliate of the Issuer or the Guarantor. 

  
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 Each Security shall be dated the date of its authentication. 

Section 2.05. Registrar and Paying Agent. The Issuer shall maintain an office or agency for each series of Securities where
Securities of such series may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Securities of such series may be presented for payment (the “Paying
Agent”). The Issuer shall cause each of the Registrar and the Paying Agent to maintain an office or agency in the United States of America. The Registrar shall keep a register of the Securities and of their transfer and exchange (the
“Securities Register”). The Issuer shall also cause to be kept at its registered office in the Grand Duchy of Luxembourg a copy of the Securities Register in accordance with the provisions of the Luxembourg law of
10 August 1915, on commercial companies, as amended (the “Companies Act”). In case of discrepancies between the Securities Register held by the Registrar and the copy of such register held by the Issuer at its registered office, the
register held by the Issuer at its registered office shall prevail for Luxembourg law purposes. 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. 
 The Issuer shall enter into an appropriate agency agreement with any Registrar, Paying Agent or co-registrar 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 7.07. The Issuer, the Guarantor or any of its Subsidiaries may act as Paying
Agent, Registrar, co-registrar or transfer agent. 
 The Issuer initially appoints the Trustee as Registrar and Paying Agent for the
Securities. In acting hereunder and in connection with the Securities, the Registrar and the Paying Agent shall act solely as agents of the Issuer, and will not thereby assume any obligations towards or relationship of agency or trust for or with
any Holder. 
 Section 2.06. 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 amount or Additional Amounts, if any, in respect of any Security is due and payable, the Issuer shall deposit with the Paying Agent a sum sufficient in immediately available funds to pay such amount or Additional Amounts, if any, 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 the applicable Holders or the Trustee all money held by such Paying Agent for the payment of
such amount and Additional Amounts, if any, on the applicable Securities and shall notify the Trustee in writing of any default by the Issuer in making any such payment. If the Issuer, the Guarantor or a Subsidiary of the Guarantor 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
disbursed by such Paying Agent. Upon complying with this Section 2.06, the Paying Agent (if other than the Issuer, the Guarantor or a Subsidiary of the Guarantor) 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 Securities. 

Section 2.07. 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. If the Trustee is not the Registrar with respect to a series of Securities, or to the extent otherwise required under the TIA, the 

  
 12 

 
Issuer shall furnish to the Trustee, in writing at least five Business Days before each interest payment date with respect to such series of Securities 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 of such series. 

Section 2.08. Transfer and Exchange. 

Except as set forth in Section 2.16 or as may be provided pursuant to Section 2.01, when Securities of any series are presented to
the Registrar with the request to register the transfer of those Securities or to exchange those Securities for an equal principal amount of Securities of the same series of like tenor and of other authorized denominations, the Registrar shall
register the transfer or make the exchange as requested if its requirements and the requirements of this Indenture for those transactions are met; provided, however, that the Securities presented or surrendered for registration of transfer or
exchange shall be duly endorsed or accompanied by a written instruction of transfer in form reasonably satisfactory to the Registrar duly executed by the Holder thereof or by his attorney, duly authorized in writing, on which instruction the
Registrar can rely. 
 To permit registrations of transfers and exchanges, the Issuer shall execute Securities and, upon an Issuer Order,
the Trustee shall authenticate such Securities at the Registrar’s written request and submission of the Securities (other than Global Securities). No service charge shall be made to a Holder for any registration of transfer or exchange (except
as otherwise expressly permitted herein), but the Issuer or the Trustee may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than such transfer tax or similar
governmental charge payable on exchanges pursuant to Section 2.13, Section 5.07 or Section 9.05). The Trustee shall authenticate Securities in accordance with the provisions of Section 2.04. Notwithstanding any other provisions
of this Indenture to the contrary, the Issuer shall not be required to register the transfer or exchange of (a) any Security selected for redemption in whole or in part pursuant to Article V, except the unredeemed portion of any Security being
redeemed in part or (b) any Security during the period beginning 15 Business Days before the mailing of notice of any offer to repurchase Securities of the series required pursuant to the terms thereof or of redemption of Securities of a series
to be redeemed and ending at the close of business on the date of mailing. 
 Section 2.09. Mutilated, Destroyed, Lost or Wrongfully
Taken Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Issuer shall issue and, upon an Issuer Order, the Trustee shall
authenticate a replacement Security with respect to such series if the requirements of Section 8-405 of the Uniform Commercial Code are met, such that the Holder (a) satisfies the Issuer or the Trustee within a reasonable time after such
Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such request to the Issuer or Trustee prior to the Security 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 Trustee. Such Holder shall furnish an indemnity
bond sufficient in the judgment of the Issuer and the Trustee to protect the Issuer, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a Security is replaced, and, in the absence of
notice to the Issuer or the Trustee that such Security has been acquired by a protected purchaser, the Issuer shall execute and, upon an Issuer Order, the Trustee shall authenticate and make available for delivery, in exchange for any such mutilated
Security or in lieu of any such destroyed, lost or wrongfully taken Security, a new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding. 

  
 13 

 In case any such mutilated, destroyed, lost or wrongfully taken Security has become or is about
to become due and payable, the Issuer in its discretion may, instead of issuing a new Security of such series, pay such Security. 
 Upon
the issuance of any new Security under this Section 2.09, the Issuer or the Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses
(including the fees and expenses of the Trustee) in connection therewith. 
 Every new Security issued pursuant to this Section 2.09 in
lieu of any mutilated, destroyed, lost or wrongfully taken Security shall constitute an original additional contractual obligation of the Issuer, the Guarantor and any other obligor upon the Securities of such series, whether or not the mutilated,
destroyed, lost or wrongfully taken Security 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 Securities of such series duly issued hereunder. 

The provisions of this Section 2.09 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 wrongfully taken Securities. 
 Section 2.10. Outstanding
Securities. Securities outstanding at any time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those paid pursuant to Section 2.09 and those described in this
Section 2.10 as not outstanding. A Security ceases to be outstanding in the event the Issuer, the Guarantor or an Affiliate of the Guarantor holds the Security, provided, however, that (i) for purposes of determining which
Securities are outstanding for consent or voting purposes hereunder, the provisions of Section 12.06 shall apply and (ii) in determining whether the Trustee shall be protected in making a determination whether the Holders of the requisite
principal amount of outstanding Securities are present at a meeting of Holders of Securities 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 Securities which a Trust Officer of the Trustee actually knows to be held by the Issuer, the Guarantor or an Affiliate of the Guarantor shall not be considered
outstanding. 
 If a Security is replaced pursuant to Section 12.09, it ceases to be outstanding unless the Trustee and the Issuer
receive proof satisfactory to them that the replaced Security is held by a protected purchaser. 
 If the Paying Agent segregates and holds
in trust, in accordance with this Indenture, on a Redemption Date, repurchase date or maturity date money sufficient to pay all amounts and Additional Amounts, if any, payable on that date with respect to the Securities (or portions thereof) to be
redeemed, repurchased 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 Securities (or portions
thereof) cease to be outstanding and interest on them ceases to accrue. 
 Section 2.11. Cancellation. The Issuer at any time
may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel
all Securities surrendered for registration of transfer, exchange, payment or cancellation and dispose of such Securities in accordance with its internal policies (subject to the record retention requirements of the Exchange Act), and certification
of their cancellation shall be delivered to the Issuer promptly upon receipt by the Trustee of an Issuer Request. The Issuer may not issue new Securities to replace Securities it has paid or delivered to the Trustee for cancellation for any reason
other than in connection with a transfer or exchange. 

  
 14 

 Section 2.12. Payment of Interest; Defaulted Interest. Unless otherwise provided as
contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, on any Security of such series 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 Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer maintained for such purpose pursuant
to Section 2.08. 
 Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any
interest and Additional Amounts, if any, on any Security of such series 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 provided for in the Securities therefor (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 Securities (or their
respective predecessor Securities) 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 Security 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 clause provided. Thereupon the Trustee 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 Trustee shall promptly notify the Issuer of such Special Record Date, and in the name and at the expense of the Issuer, 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 12.02, 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 Securities (or their respective predecessor Securities) are registered at
the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 

(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 Securities 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 clause, such manner of payment
shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section 2.12, each Security delivered under
this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other
Security. 

  
 15 

 Section 2.13. Temporary Securities. Until definitive Securities of any series are
ready for delivery, the Issuer may prepare and, upon an Issuer Order, the Trustee shall authenticate temporary Securities of such series. Temporary Securities shall be substantially in the form of definitive Securities, but may have variations that
the Issuer considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall prepare and, upon an Issuer Order, the Trustee shall authenticate definitive Securities in exchange for temporary Securities. Until so exchanged,
the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 

Section 2.14. Persons Deemed Owners. The Issuer, the Guarantor, the Trustee, any Agent and any authenticating agent may treat the
Person in whose name any Security is registered as the owner of that Security for the purpose of receiving payments of principal of, premium (if any) or interest on, or any Additional Amounts with respect to, that Security and for all other
purposes. None of the Issuer, the Guarantor, the Trustee, any Agent or any authenticating agent shall be affected by any notice to the contrary. 

Section 2.15. Computation of Interest. Except as otherwise provided as contemplated by Section 2.01 with respect to the
Securities of any series, interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 2.16. Global Securities; Book-Entry Provisions. If Securities of a series are issuable in global form as a Global
Security, as contemplated by Section 2.01, then, notwithstanding clause (11) of Section 2.01 and the provisions of Section 2.02, any such Global Security shall represent those of the outstanding Securities of that series as shall
be specified therein and may provide that it shall represent the aggregate amount of outstanding Securities of that series from time to time endorsed thereon and that the aggregate amount of outstanding Securities of that series represented thereby
may from time to time be reduced or increased, as appropriate, to reflect exchanges, transfers or redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Securities of that
series represented thereby shall be made by the Trustee (i) in such manner and upon instructions given by such Person or Persons as shall be specified in that Security or in an Issuer Order to be delivered to the Trustee pursuant to
Section 2.04 or (ii) otherwise in accordance with written instructions or such other written form of instructions as is customary for the Depositary for that Security, from that Depositary or its nominee on behalf of any Person having a
beneficial interest in that Global Security. Subject to the provisions of Section 2.04 and, if applicable, Section 2.13, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions
given by the Person or Persons specified in that Security or in the applicable Issuer Order. With respect to the Securities of any series that are represented by a Global Security, the Issuer and the Guarantor authorize the execution and delivery by
the Trustee of a letter of representations or other similar agreement or instrument in the form customarily provided for by the Depositary appointed with respect to that Global Security. Any Global Security may be deposited with the Depositary or
its nominee, or may remain in the custody of the Trustee or the Security Custodian therefor pursuant to a FAST Balance Certificate Agreement or similar agreement between the Trustee and the Depositary. If an Issuer Order has been, or simultaneously
is, delivered, any instructions by the Issuer with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not comply with Section 12.05 and need not be accompanied by an Opinion of Counsel.

 Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with
respect to any Global Security held on their behalf by the Depositary, or the Trustee or the Security Custodian as its custodian, or under that Global Security, and the Depositary may be treated by 

  
 16 

 
the Issuer, the Guarantor, the Trustee or the Security Custodian and any agent of the Issuer, the Guarantor, the Trustee or the Security Custodian as the absolute owner of that Global Security
for all purposes whatsoever. Notwithstanding the foregoing, (i) the registered holder of a Global Security of any series may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through
Agent Members, to take any action that a Holder of Securities of that series is entitled to take under this Indenture or the Securities of that series and (ii) nothing herein shall prevent the Issuer, the Guarantor, the Trustee or the Security
Custodian or any agent of the Issuer, the Guarantor, the Trustee, or the Security Custodian from giving effect to any written certification, proxy or other authorization furnished by the Depositary or shall impair, as between the Depositary and its
Agent Members, the operation of customary practices governing the exercise of the rights of a beneficial owner of any Security. 

Notwithstanding Section 2.08, and except as otherwise provided pursuant to Section 2.01, transfers of a Global Security shall be
limited to transfers of that Global Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Security may be transferred in accordance with the rules and
procedures of the Depositary. Securities of any series shall be transferred to all beneficial owners of a Global Security of that series in exchange for their beneficial interests in that Global Security if, and only if, either (1) the
Depositary notifies the Issuer that it is unwilling or unable to continue as depositary for such Global Security or the Depositary ceases to be a clearing agency registered under the Exchange Act, at a time when the Depositary is required to be so
registered in order to act as depositary, and, in either case, a successor depositary is not appointed by the Issuer within 90 days of such notice, (2) the Issuer, at its option, notifies the Trustee in writing that it elects to cause the
issuance of definitive Securities or (3) a Default or Event of Default has occurred and is continuing with respect to the Securities. 

In connection with any transfer of a portion of the beneficial interests in a Global Security to beneficial owners pursuant to this
Section 2.16, the Registrar shall reflect on its books and records the date and a decrease in the principal amount of the Global Security in an amount equal to the principal amount of the beneficial interest in the Global Security to be
transferred, and the Issuer shall execute, and, upon an Issuer Order, the Trustee on receipt of a Issuer Order for the authentication and delivery of Securities shall authenticate and deliver, one or more Securities of the same series of like tenor
and amount. 
 In connection with the transfer of all the beneficial interests in a Global Security of any series to beneficial owners
pursuant to this Section 2.16, the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the
Depositary in exchange for its beneficial interest in the Global Security, an equal aggregate principal amount of Securities of that series of authorized denominations. 

None of the Issuer, the Guarantor or the Trustee will have any responsibility or liability to any beneficial owner of a Global Security, Agent
Members or other Person for any aspect of the records relating to, or payments made on account of, Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to those Securities, nor with
respect to any ownership interest in the Securities, the delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption or purchase), the payment of any amount or
delivery of any Securities (or other security or property) under or with respect to such Securities, or for any other actions taken or not taken by the Depositary. None of the Issuer, the Guarantor or the Trustee shall be liable for any delay by the
related Global Security Holder or the Depositary in identifying the beneficial owners, and each such Person may conclusively rely on, and shall be protected in relying on, instructions from that Global Security Holder or the Depositary for all
purposes (including with respect to the registration and delivery, and the respective principal amounts, of the Securities to be 

  
 17 

 
issued). All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Securities shall be given or made only to or upon the order of the
registered Holders (which shall be the Depositary or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depositary subject to the applicable rules and procedures
of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Agent Members, members or beneficial owners in any Global Security) 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 any of its agents shall have any responsibility for any actions taken or not taken by the Depositary. 

The provisions of the last sentence of the third paragraph of Section 2.04 shall apply to any Global Security if that Global Security was
never issued and sold by the Issuer and the Issuer delivers to the Trustee the Global Security together with written instructions (which need not comply with Section 12.05 and need not be accompanied by an Opinion of Counsel) with regard to the
cancellation or reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of the third paragraph of Section 2.04. 

Notwithstanding the provisions of Section 2.03 and Section 2.12, unless otherwise specified as contemplated by Section 2.01
with respect to Securities of any series, payment of principal of and premium (if any) and interest on and any Additional Amounts with respect to any Global Security shall be made to the Person or Persons specified therein. 

Section 2.17. CUSIP Numbers, Etc. The Issuer in issuing the Securities of any series may use CUSIP, ISIN and Common Code numbers
(if then generally in use) and, if so, the Trustee shall use CUSIP, ISIN and Common Code numbers in notices of redemption as a convenience to Holders of Securities of such series; 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 Securities of such series or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the
Securities of such series, and any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall promptly notify the Trustee in writing of any change in the CUSIP, ISIN and Common Code numbers. 

Section 2.18. Original Issue Discount and Foreign-Currency Denominated Securities. In determining whether the Holders of the
required principal amount of outstanding Securities have concurred in any direction, amendment, supplement, waiver or consent, unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, (a) the
principal amount of an Original Issue Discount Security of such series shall be the principal amount thereof that would be due and payable as of the date of that determination upon acceleration of the Maturity thereof pursuant to Section 6.02,
and (b) the principal amount of a Security of such series denominated in a foreign currency shall be the Dollar equivalent, as determined by the Issuer by reference to the noon buying rate in The City of New York for cable transfers for that
currency, as that rate is certified for customs purposes by the Federal Reserve Bank of New York (the “Exchange Rate”) on the date of original issuance of that Security, of the principal amount (or, in the case of an Original
Issue Discount Security, the Dollar equivalent, as determined by the Issuer by reference to the Exchange Rate on the date of original issuance of that Security, of the amount determined as provided in (a) above), of that Security. 

  
 18 

 Article III. 

Covenants 

Section 3.01. Payment of Securities. The Issuer shall promptly pay the principal of, premium, if any, on, and interest and
Additional Amounts, if any, on the Securities on the dates and in the manner provided in the Securities and in this Indenture. Principal, premium, if any, interest and Additional Amounts, if any, shall be considered paid on the date due if on such
date the Trustee or the Paying Agent holds in accordance with this Indenture immediately available funds sufficient to pay all principal, premium and interest and Additional Amounts, if any, then due and the Trustee or Paying Agent, as the case may
be, is not prohibited from paying money to the Holders on that date pursuant to the terms of this Indenture. 
 The Issuer shall pay
interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 

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 3.02. Reports. So long as the Securities of any series are outstanding: 

(1) so long as the Guarantor is subject to the requirements of Section 13 or Section 15(d) of the Exchange Act,
within the time periods specified by the Exchange Act, the Guarantor shall file such annual and quarterly reports and such information, documents and other reports as are specified in Sections 13 and 15(d) of the Exchange Act and applicable to a
U.S. corporation subject to such Sections; 
 (2) the Guarantor shall furnish to the Trustee, within 15 days after the
Guarantor files the same with the SEC, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may from time to time by rules and regulations prescribe) which
the Guarantor files with the SEC pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, that any such information, document or report filed with the SEC pursuant to its Electronic Data Gathering, Analysis and
Retrieval (or EDGAR) system or any successor thereto shall be deemed to be filed with the Trustee; provided, however, that the Trustee shall have no responsibility whatsoever to determine whether such filing has occurred; and 

(3) the Issuer and the Guarantor shall comply with the other provisions of TIA § 314(a). 

Delivery of reports, information, and documents to the Trustee under the Indenture 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 and the Guarantor’s compliance with any of their covenants hereunder
(as to which the Trustee is entitled to conclusively rely exclusively on Officers’ Certificates). 

  
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 Section 3.03. Maintenance of Office or Agency. The Issuer will maintain in the United
States of America an office or agency for any series of Securities where such Securities may be presented or surrendered for payment, where, if applicable, the Securities of that series may be surrendered for registration of transfer or exchange and
where notices and demands to or upon the Issuer in respect of the Securities of that series and this Indenture may be served. The principal corporate trust office of the Trustee at the address of the Trustee specified in Section 12.02 hereof
(the “Corporate Trust Office”) 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; provided that the Corporate Trust
Office of the Trustee where Securities may be presented or surrendered for payment or surrendered for registration of transfer or exchange, where Securities that are convertible or exchangeable may be surrendered for conversion or exchange, as
applicable, and where notices and demands to or upon the Issuer in respect of the Securities and this Indenture may be served shall be located at U.S. Bank Global Corporate Trust Services, 111 Fillmore Avenue E, St. Paul, MN 55107, Attention:
                     or such other address as the Trustee may designate from time to time by notice to the Issuer. The Issuer will give prompt
written notice to the Trustee 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 Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, 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 Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind any such designation; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to
maintain an office or agency in the United States of America for such purposes. The Issuer will 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 3.04. Corporate Existence. Subject to Article IV, the Issuer and the Guarantor, respectively, will do or cause to be done
all things necessary to preserve and keep in full force and effect their corporate existences. This Section 3.04 shall not prohibit or restrict the Issuer or the Guarantor from converting into a different form of legal entity; provided that, in
the case of a change in corporate form, the Issuer or the Guarantor, as applicable, must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that Holders of the outstanding Securities of such series shall not
recognize income, gain or loss for federal income tax purposes as a result of such change in corporate form and shall be subject to federal income tax in the same amounts, in the same manner and at the same times as would have been the case if such
change in corporate form had not occurred. 
 Section 3.05. Compliance Certificate. Each of the Issuer and the Guarantor shall
deliver to the Trustee within 120 days after the end of each fiscal year of the Issuer (which fiscal year ends June 30) an Officers’ Certificate, one of the signatories of which, in the case of the Guarantor, shall be the principal
executive officer, the principal financial officer or principal accounting officer of the Guarantor stating that in the course of the performance by the signers of their duties as officers of the Issuer or the Guarantor, as applicable, 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 such period. If they do, the certificate shall describe the Default or Event of Default, its
status and what action the Issuer and the Guarantor are taking or propose to take with respect thereto. The Issuer and the Guarantor also shall comply with TIA § 314(a)(4). 

Section 3.06. Statement by Officers as to Default. So long as Securities of any series are outstanding, the Issuer and the
Guarantor shall deliver to the Trustee, as soon as possible and in any event within 7 Business Days after the Issuer or the Guarantor, as applicable, becomes aware of the occurrence of any Event of Default or Default with respect to that series an
Officers’ Certificate setting forth the details of such Event of Default or Default and the action which the Issuer and the Guarantor are taking or propose to take in respect thereof. 

  
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 Section 3.07. Additional Amounts. If the Securities of a series expressly provide for
the payment of Additional Amounts, the Issuer will pay to the Holder of any Security of that series Additional Amounts as expressly provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or
any premium or interest on, or in respect of, any Security of any series or the net proceeds received from the sale or exchange of any Security of any series, that mention shall be deemed to include mention of the payment of Additional Amounts
provided for in this Section 3.07 to the extent that, in that context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section 3.07, and express mention of the payment of Additional
Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where that express mention is not made. 

Unless otherwise provided pursuant to Section 2.01 with respect to Securities of any series, if the Securities of a series provide for
the payment of Additional Amounts, at least ten days prior to the first Interest Payment Date with respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment
of principal and any premium is made), and at least ten days prior to each date of payment of principal and any premium or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate,
the Issuer shall furnish the Trustee and the Issuer’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether that payment of
principal of and any premium or interest on the Securities of that series shall be made to Holders of Securities of that series who are United States Aliens without withholding for or on account of any tax, assessment or other governmental charge
described in the Securities of that series. If any such withholding shall be required, then that Officers’ Certificate shall specify by country the amount, if any, required to be withheld on those payments to those Holders of Securities, and
the Issuer will pay to that Paying Agent the Additional Amounts required by this Section. The Issuer covenants to indemnify the Trustee and any Paying Agent for and to hold them harmless against any loss, liability or expense reasonably incurred
without negligence or willful misconduct on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section 3.07. 

Section 3.08. Calculation of Original Issue Discount. If the Securities are issued with original issue discount, the Issuer shall
file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and
(ii) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. 

Section 3.09. Ownership of the Issuer. The Guarantor shall own, directly or indirectly, 100% of the Capital Stock of the Issuer.

 Article IV. 

Successor 

Section 4.01. Merger, Consolidation or Sale of Assets of the Issuer. The Issuer shall not, in a single transaction or through a
series of related transactions, (1) consolidate with or combine with or merge with or into, directly or indirectly, any other Person or Persons or sell, assign (excluding any assignment solely as collateral for security purposes under a credit
facility but not any outright assignment upon the foreclosure on any such collateral), transfer, lease or otherwise dispose of all or 

  
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substantially all of the consolidated assets of the Issuer, and its Subsidiaries (if any), taken as a whole, to any Person or Persons, or (2) permit any Person or Persons to consolidate
with, combine with or merger into the Issuer, unless: 
 (1) Either, (i) the Issuer shall be the successor or continuing
Person or, (ii) if the Issuer is not the successor or continuing Person, the resulting, surviving or transferee Person (the “Issuer Surviving Entity”) is a corporation or other legal entity organized and existing under
the laws of Luxembourg, any State thereof or the District of Columbia that expressly assumes all of the Issuer’s obligations under the Securities and this Indenture pursuant to a supplement hereto executed and delivered to the Trustee; 

(2) immediately after giving effect to such transaction or series of related transactions, no Event of Default has occurred and
is continuing; and 
 (3) the Issuer or the Issuer Surviving Entity shall have delivered to the Trustee an Officers’
Certificate and Opinion of Counsel stating that the transaction or series of related transactions and any supplement hereto complies with the terms of this Indenture. 

If any consolidation or merger or any sale, assignment, conveyance, lease, transfer or other disposition of all or substantially all of its
assets occurs in accordance with the terms hereof, the Issuer Surviving Entity shall succeed to, and be substituted for, and may exercise every right and power of the Issuer under this Indenture with the same effect as if such Issuer Surviving
Entity had been named as the Issuer. The Issuer shall (except in the case of a lease) be discharged from all obligations and covenants under this Indenture and any Securities issued hereunder, and may be liquidated and dissolved. 

Section 4.02. Merger, Consolidation or Sale of Assets of the Guarantor. The Guarantor shall not, in a single transaction or
through a series of related transactions, (1) consolidate with or combine with or merge with or into, directly or indirectly, any other Person or Persons or sell, assign (excluding any assignment solely as collateral for security purposes under
a credit facility but not any outright assignment upon the foreclosure on any such collateral), transfer, lease or otherwise dispose of all or substantially all of the consolidated assets of the Guarantor, and its Subsidiaries, taken as a whole, to
any Person or Persons, or (2) permit any Person or Persons to consolidate with, combine with or merger into the Guarantor, unless: 

(1) Either, (i) the Guarantor shall be the successor or continuing Person or, (ii) if the Guarantor is not the
successor or continuing Person, the resulting, surviving or transferee Person (the “Guarantor Surviving Entity”) is a corporation organized and existing under the laws of the United States, any State thereof or the District
of Columbia that expressly assumes all of the Guarantor’s obligations under the Securities and this Indenture pursuant to a supplement hereto executed and delivered to the Trustee; 

(2) immediately after giving effect to such transaction or series of related transactions, no Event of Default has occurred and
is continuing; and 
 (3) the Guarantor or the Guarantor Surviving Entity shall have delivered to the Trustee an
Officers’ Certificate and Opinion of Counsel stating that the transaction or series of related transactions and any supplement hereto complies with the terms of this Indenture. 

  
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 If any consolidation or merger or any sale, assignment, conveyance, lease, transfer or other
disposition of all or substantially all of its assets occurs in accordance with the terms hereof, the Guarantor Surviving Entity shall succeed to, and be substituted for, and may exercise every right and power of the Guarantor under this Indenture
with the same effect as if such Guarantor Surviving Entity had been named as the Guarantor. The Guarantor shall (except in the case of a lease) be discharged from all obligations and covenants under this Indenture and any Securities issued
hereunder, and may be liquidated and dissolved. 
 Article V. 

Redemption of Securities 

Section 5.01. Applicability of Article. Redemption of Securities at the election of the Issuer or otherwise, as permitted or
required by any provision of this Indenture, shall be made in accordance with such provision and (except as otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series) this Article V. 

Section 5.02. Election to Redeem; Notice to Trustee. In case of any redemption of any series of Securities at the election of the
Issuer, the Issuer shall, upon not later than the earlier of the date that is 45 days prior to the Redemption Date fixed by the Issuer or the date on which notice is given to the Holders (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee in writing of such Redemption Date and of the principal amount of Securities to be redeemed and shall deliver to the Trustee such documentation and records as shall enable the Trustee to select the Securities of such
series to be redeemed pursuant to Section 5.03. 
 Section 5.03. Selection by Trustee of Securities to Be Redeemed. If
fewer than all of the Securities of any series are to be redeemed at any time, the Trustee will, subject to applicable law, select Securities of any series for redemption as follows: 

(1) if the Securities are Global Securities, in accordance with the standard procedures of DTC or any successor Depositary;

 (2) if the Securities are not Global Securities then held by DTC or a successor Depositary, or DTC or such successor
Depositary prescribes no method of selection, on a pro rata basis, by lot or by any other method the Trustee deems fair and appropriate and subject to and otherwise in accordance with the procedures of the applicable Depositary; and 

(3) if the Securities are listed on any national securities exchange, in compliance with the requirements of the principal
national securities exchange on which the Securities are listed. 
 Section 5.04. Notice of Redemption. Notice of redemption
shall be given in the manner provided for in Section 12.02 not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, except that redemption notices may be mailed more than 60 days prior to
a Redemption Date if such notice is issued in connection with a defeasance of the Securities or a satisfaction and discharge of this Indenture. The Trustee shall give notice of redemption in the Issuer’s name and at the Issuer’s expense;
provided, however, that the Issuer shall deliver to the Trustee, at least 45 days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), an Officers’ Certificate requesting that the Trustee
give such notice at the Issuer’s expense and setting forth the information to be stated in such notice as provided in the following items. 

  
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 All notices of redemption shall state: 

(1) the Redemption Date; 

(2) the redemption price (or if not determinable at the time of such notice, the methodology for determining such redemption
price) and the amount of accrued interest and Additional Amounts, if any, to the Redemption Date payable as provided in Section 5.06; 

(3) if less than all outstanding Securities are to be redeemed, the identification of the particular Securities (or portion
thereof) to be redeemed, as well as the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial redemption; 

(4) in case any Securities are to be redeemed in part only, the notice which relates to such Securities shall state that on and
after the Redemption Date, upon surrender of such Securities, the Holder will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed; 

(5) that on the Redemption Date the redemption price (and accrued interest, if any, to the Redemption Date payable as provided
in Section 5.06) will become due and payable upon each such Security, or the portion thereof, to be redeemed, and, unless the Issuer defaults in making the redemption payment, that interest and Additional Amounts, if any, on Securities (or the
portions thereof) called for redemption will cease to accrue on and after said date; 
 (6) the place or places where such
Securities are to be surrendered for payment of the Redemption Price and accrued interest, if any; 
 (7) the name and
address of the Paying Agent; 
 (8) that Securities called for redemption (other than a Global Note) must be surrendered to
the Paying Agent to collect the redemption price; 
 (9) the CUSIP, ISIN or Common Code number, and that no representation is
made as to the accuracy or correctness of the CUSIP, ISIN or Common Code number, if any, listed in such notice or printed on the Securities; and 

(10) the section of this Indenture and the paragraph of the Securities pursuant to which the Securities are to be redeemed.

 Section 5.05. Deposit of Redemption Price. Not later than 11:00 a.m. New York time on the Redemption Date, the Issuer shall
deposit with the Trustee or with a Paying Agent (or, if the Issuer, the Guarantor or a Subsidiary of the Guarantor is acting as Paying Agent, segregate and hold in trust as provided in Section 2.06) an amount of money sufficient to pay the
redemption price of, and accrued interest and Additional Amounts, if any, on, all the Securities which are to be redeemed on that date. 

Section 5.06. Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, the Securities so to be
redeemed shall, on the Redemption Date, become due and payable at the redemption price therein specified (together with accrued and unpaid interest and 

  
 24 

 
Additional Amounts, if any, to the Redemption Date), and from and after such date (unless the Issuer shall default in the payment of the redemption price and accrued interest and Additional
Amounts, if any) such Securities shall cease to bear interest and Additional Amounts, if any. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Issuer at the redemption price,
together with accrued and unpaid interest and Additional Amounts, if any, to the Redemption Date (subject to the rights of Holders of record on the relevant record date to receive interest and Additional Amounts, if any, due on an interest payment
date that is on or prior to the Redemption Date). 
 If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest and Additional Amounts, if any, from the Redemption Date at the rate borne by the Securities. 

Section 5.07. Securities Redeemed in Part. Any Security which is to be redeemed only in part (pursuant to the provisions of this
Article V) shall be surrendered at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.05 (with, if the Issuer or the Trustee so require, due endorsement by, or a written instrument of transfer in form
satisfactory to the Issuer and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Issuer shall execute and, upon an Issuer Order, the Trustee shall authenticate and make available for
delivery to the Holder of such Security at the expense of the Issuer, a new Security or Securities, of any authorized denomination as requested by such Holder, in an aggregate principal amount equal to and in exchange for the unredeemed portion of
the principal of the Security so surrendered, provided that (except as otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series) each such new Security will be in a principal amount of $2,000 or
integral multiples of $1,000 in excess thereof. No Securities of $2,000 or less may be redeemed in part (except as otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series). 

Article VI. 
 Defaults
and Remedies 
 Section 6.01. Events of Default. Unless either inapplicable to a particular series or specifically deleted
or modified in or pursuant to the supplemental indenture, Board Resolution, Officers’ Certificate of the Issuer or Issuer Order establishing such series of Securities or in the form of Security for such series, an “Event of
Default,” wherever used herein with respect to Securities of any series, occurs if: 
 (1) the Issuer
defaults in the payment of any installment of interest on or Additional Amounts, if any, with respect to any Security of that series under this Indenture when due, continued for 30 days; 

(2) the Issuer defaults in the payment when due (at Stated Maturity, upon acceleration, redemption, required repurchase or
otherwise) of the principal of, or premium, if any, on the Securities of that series; 
 (3) the Guarantor fails to comply
with the provisions of Section 4.01 hereof; 
 (4) the Issuer or the Guarantor fails for 90 days after written notice to
the Issuer or the Guarantor by the Trustee or the Holders of at least 25% in aggregate principal amount of the outstanding Securities of that series issued under this Indenture to comply with any of the other covenants or agreements in this
Indenture applicable to the Securities of that series or in the Securities of that series; 

  
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 (5) the Issuer fails to deposit any sinking fund payment, if any, when due, in
respect of any Security of that series; 
 (6) the Guarantee in respect of any Security of that series shall be held in any
judicial proceedings to be unenforceable or invalid or ceases for any reason to be in full force and effect (other than in accordance with the terms of this Indenture) or (b) the Guarantor, or any person acting on behalf of the Guarantor, shall
deny or disaffirm its obligations under the Guarantee; 
 (7) the Guarantor or, following a transaction permitted by
Section 4.02, the Guarantor Surviving Entity, ceases to own 100% of the Capital Stock of the Issuer; and 
 (8) (a) the
Issuer, the Guarantor or any Significant Subsidiary: 
 (i) commences a voluntary case or proceeding; 

(ii) consents to the entry of a judgment, decree or order for relief against it in an involuntary case or proceeding; 

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

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

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

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

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

(i) is for relief against the Issuer, the Guarantor or any Significant Subsidiary; 

(ii) appoints a Custodian of the Issuer, the Guarantor or any Significant Subsidiary; or 

(iii) orders the winding up or liquidation of the Issuer, the Guarantor or any Significant Subsidiary; or any similar relief
is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for 90 days. 
 Section 6.02.
Acceleration. Except as otherwise provided as contemplated by Section 2.01 with respect to the Securities of such series, if any Event of Default with respect to any Securities of such series at the time outstanding (other than those of
the type described in clause (8) of Section 6.01) occurs and is continuing, the Trustee may, and at the direction of the Holders of at least 25% in aggregate principal amount of outstanding Securities of such series shall, declare the
principal of all the Securities of that series, together with all accrued and unpaid interest and Additional Amounts, if any, and premium, if any, to be due and payable immediately by notice in writing to the Issuer and the Trustee specifying the
respective Event of Default and that such notice is a notice of acceleration, and the same shall become immediately due and payable. 

  
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 Except as otherwise provided as contemplated by Section 2.01 with respect to the Securities
of any series, in the case of an Event of Default with respect to such series specified in clause (8) of Section 6.01 hereof, all outstanding Securities of such series shall become due and payable immediately without further action or
notice by the Trustee or the Holders. Holders may not enforce this Indenture or the Securities except as provided in this Indenture. 

Except as otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, at any time after a
declaration of acceleration with respect to the Securities of such series, the Holders of a majority in principal amount of the Securities of that series then outstanding (by written notice to the Trustee) may, on behalf of the Holders of all the
Securities of that series, rescind and cancel such declaration and its consequences if: 
 (1) the rescission would not
conflict with any judgment or decree of a court of competent jurisdiction; 
 (2) all existing Defaults and Events of Default
with respect to Securities of that series have been cured or waived except nonpayment of principal of or interest on the Securities of that series that has become due solely by reason of such declaration of acceleration; 

(3) to the extent the payment of such interest is lawful, interest (at the same rate specified in the Securities of such
series) on overdue installments of interest and Additional Amounts, if any, and overdue payments of principal which has become due otherwise than by such declaration of acceleration has been paid; 

(4) the Issuer has paid the Trustee its reasonable compensation and reimbursed the Trustee for its reasonable expenses,
disbursements and advances; and 
 (5) in the event of the cure or waiver of an Event of Default of the type described in
(8) of Section 6.01, the Trustee has received an Officers’ Certificate and Opinion of Counsel that such Event of Default has been cured or waived. 

Section 6.03. Other Remedies. If an Event of Default with respect to any series occurs and is continuing, the Trustee may pursue
any available remedy to collect the payment of principal of (or premium, if any) or interest or Additional Amounts, if any, on the Securities of such series or to enforce the performance of any provision of the Securities of such series or this
Indenture with respect to such series. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities 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. Every right and remedy given by this Article or by law to the Trustee or any Holder may be exercised from time to time, and as often as deemed
expedient, by the Trustee or the Holders, as the case may be. 
 Section 6.04. Waiver of Past Defaults. Except as otherwise
provided as contemplated by Section 2.01 with respect to the Securities of any series, the Holders of a majority in principal amount of 

  
 27 

 
the then outstanding Securities of such series by written notice to the Trustee may, on behalf of the Holders of all the Securities of such series, (a) waive, by their consent (including,
without limitation consents obtained in connection with a purchase of, or tender offer or exchange offer for, Securities of such series), an existing Default or Event of Default, with respect to such series and its consequences or compliance with
any provisions except (i) a Default or Event of Default in the payment of the principal of, or premium, if any, or interest or Additional Amounts, if any, on a Security of such series or (ii) a Default or Event of Default in respect of a
provision that under Section 9.02 cannot be amended without the consent of each Holder affected and (b) rescind any such acceleration with respect to the Securities of such series and its consequences if rescission would not conflict with
any judgment or decree 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.

 Section 6.05. Control by Majority. With respect to Securities of any series, the Holders of a majority in principal amount of
the outstanding Securities of such series may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture or, subject to Section 7.01 and Section 7.02, that the Trustee determines is unduly prejudicial to the rights of the other Holders or would involve the Trustee in personal
liability. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

Section 6.06. Limitation on Suits. Subject to Section 6.07, a Holder of a Security of any series may not pursue any remedy
with respect to this Indenture, the Guarantee or the Securities of such series unless: 
 (1) such Holder has previously
given to the Trustee written notice stating that an Event of Default is continuing with respect to such series; 
 (2)
Holders of at least 25% in aggregate principal amount of the outstanding Securities of such series have requested in writing that the Trustee pursue the remedy; 

(3) such Holders have offered to the Trustee security or indemnity satisfactory to it against any loss, liability or expense;

 (4) the Trustee has not complied with such request within 60 days after receipt of the request and the offer of security
or indemnity; and 
 (5) the Holders of a majority in principal amount of the outstanding Securities of such series have not
given the Trustee a direction that is 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 6.07. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture
(including, without limitation, Section 6.06), the right of any Holder to receive payment of principal of, premium (if any) or interest or Additional Amounts, if any, when due on the Securities held by such Holder, on or after the respective
due dates expressed in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 

  
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 Section 6.08. Collection Suit by Trustee. If an Event of Default specified in clauses
(1) or (2) of Section 6.01 occurs and is continuing with respect to Securities of any series, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or the Guarantor for the whole amount
then due and owing (together with interest on any unpaid interest to the extent lawful) with respect to such series and the amounts provided for in Section 7.07. 

Section 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee and the Holders allowed in any judicial proceedings relative to the Issuer, the Guarantor, their respective Subsidiaries or their respective creditors or properties and, unless
prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each
Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel,
and any other amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to
authorize the Trustee to authorize or consent to or accept on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding. 
 Section 6.10. Priorities. If the Trustee collects any money or
property pursuant to this Article VI, it shall pay out the money or property in the following order: 
 FIRST: to the Trustee for
amounts due under Section 7.07; 
 SECOND: to Holders for amounts due and unpaid on the Securities in respect of which or for
the benefit of which such money has been collected, for principal, premium, if any, and interest and Additional Amounts, if any, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for
principal, premium, if any, and interest and Additional Amounts, if any, respectively; and 
 THIRD: to the Issuer or the Guarantor
or to such other party as a court of competent jurisdiction may direct. 
 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, suffered 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 

  
 29 

 
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 6.07 or a suit by Holders of more than 10% in outstanding principal amount of the Securities of any series. 

Section 6.12. Restoration of Rights. If the Trustee or any Holder of a Security has instituted any proceeding to enforce any right
or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Issuer, the Guarantor, the Trustee and the
Holders of Securities shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though
no such proceeding had been instituted. 
 Article VII. 

Trustee 

Section 7.01. Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by
this Indenture and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default occurs and is
continuing, the Trustee will be under no obligation to exercise the rights or powers under this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security against loss, liability
or expense satisfactory to the Trustee in its sole discretion. 
 (b) Except during the continuance of an Event of Default
with respect to the Securities of any series: 
 (1) the Trustee undertakes to perform such duties and only such duties as
are specifically set forth in this Indenture, and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, 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. 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 on their face to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 
 (c) The Trustee may not
be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

(1) this paragraph does not limit the effect of paragraph (b) of this Section 7.01; 

  
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 (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; and 
 (3) the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and
(c) of this Section 7.01. 
 (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 or any other provision of this Indenture. 
 (g) No provision of this Indenture
shall require the Trustee to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

(h) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee shall be subject to the provisions of this Section 7.01. 
 (i) Unless otherwise specifically provided in this
Indenture, any demand, request or direction from the Issuer or the Guarantor shall be sufficient if evidenced by an Issuer Request or Issuer Order, or a Guarantor Request or Guarantor Order, respectively. 

(j) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request or direction of any of the Holders unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses (including reasonable attorneys’ fees and expenses) and liabilities that might
be incurred by it in compliance with such request or direction. 
 Section 7.02. Rights of Trustee. Subject to
Section 7.01: 
 (a) The Trustee may conclusively rely on any document (whether in its original, facsimile form or in
PDF format) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate 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 Officers’ Certificate and/or Opinion of Counsel. 

(c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any
agent appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 

  
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 (e) The Trustee may consult with counsel of its selection, and the advice or
opinion of counsel with respect to legal matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith
and in reliance thereon. 
 (f) The Trustee is not required to make any inquiry or investigation into facts or matters stated
in any 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 determines to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Issuer or the Guarantor personally or by agent, in which case the Issuer shall be responsible for the reasonable expenses of such investigation. 

(g) The Trustee is not required to take notice and shall not be deemed to have notice of any Default or Event of Default
hereunder with respect to any series of Securities, unless a Trust Officer of the Trustee has actual knowledge thereof or has received notice in writing of such Default or Event of Default from the Issuer or the Holders of at least 25% in aggregate
principal amount of the Securities of such series then outstanding and such notice references the Securities and this Indenture, and in the absence of any such notice, the Trustee may conclusively assume that no such Default or Event of Default
exists. 
 (h) The Trustee is not required to give any bond or surety with respect to the performance of its duties or the
exercise of its powers under this Indenture. 
 (i) In the event the Trustee receives inconsistent or conflicting requests
and indemnity from two or more groups of Holders of Securities, each representing less than the aggregate principal amount of Securities outstanding required to take any action thereunder, the Trustee, in its sole discretion may but shall have no
obligation to determine what action, if any, shall be taken. 
 (j) The Trustee’s rights, privileges, benefits,
immunities and protections, including its protections from liability and its right to indemnification, in connection with the performance of its duties under this Indenture shall extend to the Trustee’s officers, directors, agents, attorneys
and employees and to the Trustee in each of its capacities hereunder. Such rights, privileges, benefits, immunities and protections, including its right to indemnification, together with the Trustee’s right to compensation, shall survive the
Trustee’s resignation or removal, the discharge of this Indenture and final payments of the Securities. 
 (k) The
permissive right of the Trustee to take actions permitted by this Indenture shall not be construed as an obligation or duty to do so. 

(l) The Trustee shall have no duty to inquire as to the performance of the Issuer’s or the Guarantor’s covenants
herein. 
 (m) Any request or direction of the Issuer or the Guarantor mentioned herein shall be sufficiently evidenced by an
Issuer Request or Issuer Order, or a Guarantor Request or Guarantor Order, respectively, and any resolution of the Board of Directors of the Issuer or the Guarantor, as applicable, may be sufficiently evidenced by a Board Resolution of the Issuer or
the Guarantor, as applicable. 
 (n) In no event shall the Trustee be responsible or liable for 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. 

(o) The Trustee may request that the Issuer and the Guarantor 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. 

  
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 Section 7.03. Individual Rights of Trustee. The Trustee in its individual or any
other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuer or the Guarantor or their respective 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 Section 7.10 and Section 7.11. 

Section 7.04. Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity
or adequacy of this Indenture or the Securities, it shall not be accountable for the Issuer’s use of the proceeds from the Securities, and it 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 Securities or in the Securities other than the Trustee’s certificate of authentication. 

Section 7.05. Notice of Defaults. If a Default or Event of Default with respect to the Securities of any series occurs and is
continuing and if a Trust Officer has actual knowledge thereof, the Trustee shall mail to each Holder of a Security of such series notice of the Default or Event of Default within the later of 30 days after obtaining such knowledge and 90 days after
it occurs, unless the Default was already cured or waived. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest or Additional Amounts, if any, on any Security of any series, the Trustee may
withhold the notice if it in good faith determines that withholding the notice is in the interests of Holders of such series. 

Section 7.06. Reports by Trustee to Holders. Within 60 days after each October 15 beginning with the October 15
following the date of this Indenture and for so long as the Securities of any series remain outstanding, the Trustee shall mail to each Holder of Securities of such series a brief report dated as of such reporting date that complies with TIA §
313(a). The Trustee also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports required by TIA § 313(c). 

A copy of each report at the time of its mailing to Holders of Securities of any series shall be filed with the SEC and each stock exchange
(if any) on which the Securities of such series are listed. The Issuer and the Guarantor agree to notify promptly the Trustee in writing whenever the Securities of any series become listed on any stock exchange and of any delisting thereof. 

Section 7.07. Compensation and Indemnity. The Issuer and the Guarantor shall pay to the Trustee from time to time such
compensation for its acceptance of this Indenture and services hereunder as the Issuer, the Guarantor and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a
trustee of an express trust. The Issuer and the Guarantor shall reimburse the Trustee promptly upon request for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, costs of preparing and reviewing reports,
certificates and other documents, costs of preparation and mailing of notices to Holders, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the
Trustee’s agents, counsel, accountants and experts. The Issuer and the Guarantor, jointly and severally, shall indemnify the Trustee against any and all losses, liabilities, damages, claims, penalties, fines or expenses (including reasonable
attorneys’ and agents’ fees and expenses) (for purposes of this Section 7.07, “losses”) incurred by it in connection with the 

  
 33 

 
administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture (including this Section 7.07) and of defending itself
against any claims (whether asserted by any Holder, the Issuer or otherwise), except to the extent such losses may be attributable to its negligence or willful misconduct as determined by a court of competent jurisdiction. The Trustee shall notify
the Issuer and the Guarantor promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuer and the Guarantor shall not relieve the Issuer and the Guarantor of their obligations hereunder. The Issuer and the
Guarantor shall defend the claim, with counsel reasonably satisfactory to the Trustee, and the Trustee shall provide reasonable cooperation at the Issuer’s and Guarantor’s expense in the defense. The Trustee may have separate counsel and
the Issuer and the Guarantor shall pay the reasonable fees and expenses of such counsel provided that the Issuer and the Guarantor shall not be required to pay such fees and expenses if they assume the Trustee’s defense, and, in the reasonable
judgment of outside counsel to the Trustee, there is no conflict of interest between the Issuer, the Guarantor and the Trustee in connection with such defense. Any settlement which affects the Trustee may not be entered into without the written
consent of the Trustee, which consent shall not be unreasonably delayed, conditioned or withheld, unless the Trustee is given a full and unconditional release from liability with respect to the claims covered thereby and such settlement does not
include a statement or admission of fault, culpability or failure to act by or on behalf of the Trustee. The Issuer and the Guarantor shall not be under any obligation to pay for any written settlement without their consent, which consent shall not
be unreasonably delayed, conditioned or withheld. The Issuer and the Guarantor need not reimburse any expense incurred by the Trustee through the Trustee’s own willful misconduct or negligence. 

To secure the Issuer’s and the Guarantor’s payment obligations in this Section 7.07, the Trustee shall have a lien prior to the
Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of, interest and Additional Amounts, if any, on particular Securities. 

The Issuer’s and the Guarantor’s payment obligations pursuant to this Section 7.07 shall survive the discharge of this
Indenture, the resignation or removal of the Trustee and payment in full of the Securities. When the Trustee incurs expenses after the occurrence of a Default specified in clause (7) of Section 6.01 with respect to the Issuer and the
Guarantor, the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 
 Section 7.08. Replacement
of Trustee. No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee. The Trustee may resign at any time with
respect to the Securities of one or more series by so notifying the Issuer and the Guarantor. The Holders of a majority in principal amount of the then outstanding Securities of any series may remove the Trustee with respect to the Securities of
such series by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: 
 (1)
the Trustee fails to comply with Section 7.10; 
 (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. 

  
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 If the Trustee resigns or is removed by the Issuer or by the Holders of a majority in principal
amount of the then outstanding Securities of any series and such Holders of such series do not reasonably promptly appoint a successor Trustee, 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 with respect to such series. 
 If a
successor Trustee with respect to Securities of any series 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 then outstanding
Securities of such series may petition, at the Issuer’s expense, any court of competent jurisdiction for the appointment of a successor Trustee with respect to Securities of such series. 

If the Trustee with respect to the Securities of a series 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 Security of such series 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 with respect to such series. 
 In case of the appointment of a successor Trustee with respect to all Securities, each
such successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee, to the Issuer and the Guarantor. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee,
without any further act, deed or conveyance, shall have all the rights, power and duties of the retiring 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 7.07. 
 In case of
the appointment of a successor Trustee with respect to the Securities of one or more (but not all) series, the Issuer, the Guarantor, the retiring Trustee and each successor Trustee with respect to the Securities of one or more (but not all) series
shall execute and deliver an indenture supplemental hereto in which each successor Trustee shall accept such appointment and that (1) shall confer to each successor Trustee all the rights, powers and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall confirm that all the rights, powers and duties of the
retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture
as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee. Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee. Upon the execution and delivery of such supplemental indenture, the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall have all the rights, powers and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates. On request of the Issuer or any successor Trustee, such retiring Trustee shall transfer to such successor Trustee all property held by such retiring Trustee as
Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. Such retiring Trustees shall, however, have the right to deduct its unpaid fees and expenses, including, without limitation,
reasonable attorneys’ fees and expenses. 
 Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the
Issuer’s and the Guarantor’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 

  
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 So long as no Event of Default, or no event which is, or after notice or lapse of time, or both,
would become, an Event of Default, shall have occurred and be continuing, and except with respect to a Trustee appointed by the act of the Holders of a majority in principal amount of then outstanding Securities of any series, if the Issuer shall
have delivered to the Trustee (1) a Board Resolution appointing a successor Trustee, effective as of a date specified therein (which date shall be no sooner than 45 days after the date of such delivery, unless a shorter period shall be
acceptable to the Trustee), and (2) an instrument of acceptance of such appointment, effective as of such date, by such successor Trustee, then the Trustee shall be deemed removed, the successor Trustee shall be deemed to have been appointed by
the Issuer and such appointment shall be deemed to have been accepted as contemplated, all as of such date, and all other provisions of this Section 7.08 shall be applicable to such removal, appointment and acceptance except to the extent
inconsistent with this subsection. 
 Section 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee.
The predecessor Trustee shall have no liability for any action or inaction by any 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 Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the
certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities
either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture. 

Section 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of TIA § 310(a). The
Trustee shall have a combined capital and surplus of at least $50.0 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 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. 

Article VIII. 
 Legal
Defeasance and Covenant Defeasance 
 Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance. Unless
otherwise designated pursuant to clause (20) of Section 2.01, the Securities of any series shall be subject to defeasance or covenant defeasance pursuant to Section 8.02 or Section 8.03, in accordance with any applicable
requirements provided pursuant to Section 2.01 and upon compliance with the conditions set forth in this Article VIII. The Issuer may, at its option and at any time, elect to have either Section 8.02 or Section 8.03 hereof be applied
to all outstanding Securities of any series so subject to defeasance or covenant defeasance. Any such election shall be evidenced by a Board Resolution of the Issuer or in another manner specified as contemplated by Section 2.01 for such
Securities. 

  
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 Section 8.02. Legal Defeasance and Discharge. Upon the Issuer’s exercise under
Section 8.01 hereof of the option applicable to this Section 8.02 with respect to Securities of any series, the Issuer shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been
discharged from its Obligations with respect to all outstanding Securities of such series on the date the conditions set forth below are satisfied and the Guarantor shall be released and relieved from all of its Obligations under the Guarantee with
respect to such series (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuer shall be deemed to have paid and discharged the entire indebtedness represented by the outstanding Securities
with respect to such series, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (a) through
(e) below, and each of the Issuer and the Guarantor shall be deemed to have satisfied all its other obligations under the Securities with respect to such series and this Indenture (and the Trustee, on demand of and at the expense of the Issuer,
shall execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Securities with respect to such
series to receive, solely from the trust fund described in Section 8.04 and Section 8.05 hereof, and as more fully set forth in such Section, payments in respect of the principal of, premium, if any, and interest and Additional Amounts, if
any, on such Securities when such payments are due, (b) the Issuer’s and the Guarantor’s obligations with respect to such Securities under Article II and Section 3.01 hereof, (c) the rights, powers, trusts, duties and
immunities of the Trustee hereunder and the Issuer’s and the Guarantor’s obligations in connection therewith, (d) the optional redemption provisions, if any, with respect to such Securities, and (e) this Article VIII. If the
Issuer exercises under Section 8.01 hereof the option applicable to this Section 8.02, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, payment of the Securities with respect to such series may not be
accelerated because of an Event of Default. Subject to compliance with this Article VIII, the Issuer may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof. 

Section 8.03. Covenant Defeasance. Upon the Issuer’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03 with respect to Securities of any series, the Issuer and the Guarantor shall, with respect to such series of Securities, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their
respective obligations under the covenants contained in Section 3.02, Section 3.04 and any other covenants specified pursuant to Section 2.01 with respect to the outstanding Securities of such series, on and after the date the
conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of such series shall thereafter be deemed not “outstanding” for the purposes of
any direction, waiver, consent or declaration or act of Holders of such series (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding” for all other purposes
hereunder (it being understood that such Securities shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Securities of such series, the Issuer and the Guarantor
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 6.01 hereof, but, except as specified above, the remainder of
this Indenture and such Securities shall be unaffected thereby. If the Issuer exercises under Section 8.01 hereof the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04
hereof, payment of the Securities of such series may not be accelerated because of an Event of Default specified in clause (4) (with respect to Section 3.04 and any other covenants specified pursuant to Section 2.01 with respect to
the outstanding Securities of such series). 

  
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 Section 8.04. Conditions to Legal or Covenant Defeasance. The following shall be the
conditions to the application of either Section 8.02 or Section 8.03 hereof to the outstanding Securities of any series. 
 In
order to exercise Legal Defeasance or Covenant Defeasance with respect to the Securities of any series: 
 (1) the Issuer
must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Securities of such series, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars, and non-callable Government
Securities, in amounts as will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent public accountants, to pay the principal of, and interest and Additional Amounts, if any, and premium, if
any, on the outstanding Securities of such series on the stated date for payment or on the applicable Redemption Date, as the case may be, and the Issuer must specify whether the Securities of such series are being defeased to such stated date for
payment or to a particular Redemption Date; 
 (2) in the case of Legal Defeasance, the Issuer must deliver to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that: (a) the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling; or (b) since the date of this Indenture, there has been a
change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel will confirm that, the Holders of the outstanding Securities of such series will not recognize income, gain or loss for
federal income tax purposes as a result of such Legal Defeasance and shall be subject to federal income tax in 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 must deliver to the Trustee an Opinion of Counsel reasonably acceptable to
the Trustee confirming that Holders of the outstanding Securities of such series shall not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and shall be subject to federal income tax in 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 or Event of Default has occurred and be continuing with respect to the Securities of such series on the date of
such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit); 

(5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under,
any material agreement or instrument (other than this Indenture) to which the Issuer, the Guarantor or any of the Guarantor’s Subsidiaries is a party or by which the Issuer, the Guarantor or any of the Guarantor’s Subsidiaries is bound;

 (6) the Issuer must deliver to the Trustee an Officers’ Certificate stating that such deposit was not made by the
Issuer with the intent of preferring the Holders of Securities of such series over the other creditors of the Issuer or the Guarantor with the intent of defeating, hindering, delaying or defrauding creditors of the Issuer or the Guarantor or others;
and 
 (7) the Issuer must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

  
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 Section 8.05. Deposited Cash and Government Securities to be Held in Trust; Other
Miscellaneous Provisions. Subject to Section 8.06 hereof, all cash and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee), (collectively for purposes of this
Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the outstanding Securities of such series shall be held in trust and applied by the Trustee, in accordance with the provisions of such
Securities of such series and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer or Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of Securities of such series of all
sums due and to become due thereon in respect of principal, premium, if any, interest and Additional Amounts, if any, but such cash and securities 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 8.04 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 Securities
of such series. 
 Anything in this Article VIII to the contrary notwithstanding, the Trustee shall deliver or pay to the Issuer from time
to time upon the request of the Issuer any cash or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized independent registered public accounting firm expressed in a
written certification thereof delivered to the Trustee (which may be the certification delivered under clause (1) of Section 8.04 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 8.06. Repayment to Issuer. Any cash or non-callable Government
Securities deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, premium, if any, on, or interest or Additional Amounts, if any, on, any Security of any series and remaining
unclaimed for one year after such principal, premium, if any, or interest or Additional Amounts, if any, 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 such Holder shall thereafter, as an unsecured creditor, look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such cash and
securities, and all liability of the Issuer as Trustee thereof, shall thereupon cease. 
 Section 8.07. Reinstatement. If the
Trustee or Paying Agent is unable to apply any cash or non-callable Government Securities in accordance with Section 8.02, Section 8.03 or Section 8.05 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 Guarantor’s obligations under this Indenture and the Securities of such series shall be revived and reinstated as though no
deposit had occurred pursuant to Section 8.04 hereof until such time as the Trustee or Paying Agent is permitted to apply all such cash and securities in accordance with Section 8.02, Section 8.03 or Section 8.05 hereof, as the
case may be; provided, however, that, if the Issuer or the Guarantor makes any payment of principal of, premium, if any, on, or interest or Additional Amounts, if any, on, any Security of such series following the reinstatement of its
obligations, the Issuer or the Guarantor, as applicable, shall be subrogated to the rights of the Holders of such series to receive such payment from the cash and securities held by the Trustee or Paying Agent. 

  
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 Article IX. 

Amendments 

Section 9.01. Without Consent of Holders. Except as otherwise provided as contemplated by Section 2.01 with respect to the
Securities of any series, the Issuer, the Guarantor and the Trustee may amend or supplement this Indenture, the Securities or the Guarantee without notice to or consent of any Holder: 

(1) to cure any ambiguity, omission, defect or inconsistency that does not adversely affect Holders of Securities of the
relevant series in any material respect; 
 (2) to provide for the assumption of the Issuer’s or the Guarantor’s
obligations, as the case may be, to Holders of Securities of any series in the case of a merger or consolidation or sale of all or substantially all of the Issuer’s or the Guarantor’s properties or assets, as applicable, in each case that
is permitted under this Indenture; 
 (3) to secure or guarantee the Securities of any series; 

(4) to comply with requirements of the SEC in order to maintain the qualification of this Indenture under the Trust Indenture
Act; 
 (5) to add covenants for the benefit of the Holders to the Securities of any series or to surrender any rights the
Issuer or the Guarantor has under this Indenture; 
 (6) to add any additional Events of Default with respect to all or any
series of the Securities (and, if any such Event of Default is applicable to less than all series of Securities, specifying the series to which such Event of Default is applicable); 

(7) to add circumstances under which the Issuer will pay additional interest on the Securities of the relevant series; 

(8) to make any change that would provide any additional rights or benefits to the Holders of Securities of any series or that
does not adversely affect the rights under this Indenture of any such Holder in any material respect; 
 (9) to conform the
text of this Indenture or any Securities to the description thereof in any prospectus or prospectus supplement of the Issuer with respect to the offer and sale of Securities of any series, to the extent that such provision is inconsistent with a
provision of this Indenture or the Securities; 
 (10) to provide for the issuance of and establish the form or terms of
Securities of any series as permitted by Section 2.01; 
 (11) to provide for uncertificated Securities in addition to
or in place of certificated Securities; 
 (12) to change or eliminate any of the provisions of this Indenture; provided that
any such change or elimination shall become effective only when there is no outstanding Security of any series created prior to the execution of such amendment or supplemental indenture that is adversely affected in any material respect by such
change in or elimination of such provision; 

  
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 (13) to supplement any of the provisions of this Indenture to such extent as
shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities pursuant to Section 8.01; provided, however, that any such action shall not adversely affect the interest of the Holders of
Securities of such series or any other series of Securities in any material respect; or 
 (14) to evidence and provide for
the acceptance under this Indenture of a successor trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture necessary to provide for or facilitate the administration of the trusts
under this Indenture. 
 After an amendment under this Indenture becomes effective, the Issuer is required to mail to the Holders of each
Security affected thereby a notice briefly describing such amendment. However, the failure to give such notice to all the Holders of each Security affected thereof, or any defect therein, will not impair or affect the validity of the amendment or
supplemental indenture under this Section 9.01. 
 Section 9.02. With Consent of Holders. Except as otherwise provided as
contemplated by Section 2.01 with respect to the Securities of any series, except as provided below in this Section 9.02, the Issuer, the Guarantor and the Trustee may amend or supplement this Indenture with the consent (including consents
obtained in connection with a purchase of, or a tender offer or exchange offer for, Securities) of the Holders of a majority in principal amount of the then outstanding Securities of each series affected by such amendment or supplement (acting as
separate classes). 
 Upon the request of the Issuer and the Guarantor, each when accompanied by a Board Resolution, and upon the filing
with the Trustee of evidence of the consent of the Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.05, the Trustee shall, subject to Section 9.06, join with the Issuer and the Guarantor in the
execution of such amendment or supplemental indenture. 
 Except as otherwise provided as contemplated by Section 2.01 with respect to
the Securities of any series, the Holders of a majority in principal amount of the then outstanding Securities of one or more series or of all series affected by such waiver (acting as separate classes) may waive compliance in a particular instance
by the Issuer with any provision of this Indenture with respect to Securities of such series (including waivers obtained in connection with a purchase of, or a tender offer or exchange offer for, Securities of such series). 

However, except as otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, without the consent
of each Holder affected, an amendment, supplement or waiver may not (with respect to any Securities held by a non-consenting Holder): 

(1) make any change in the percentage of principal amount of Securities of that series whose Holders must consent to an
amendment, supplement or waiver or to make any change in this provision for modification; 
 (2) reduce any rate of interest
or change the time for payment of interest on the Securities of that series; 
 (3) reduce the principal amount of the
Securities of that series or change their Stated Maturity; 

  
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 (4) make payments on the Securities payable in currency other than as originally
stated in the Securities of that series; 
 (5) reduce the amount payable, including any premium payable upon, the optional
or mandatory redemption or repurchase of any Security or change the time (other than amendments related to notice provisions) at which any Security may be redeemed; 

(6) release the Guarantor from any of its obligations under the Guarantee or the Indenture; 

(7) change the provisions relating to the waiver of past Defaults or impair the Holder’s right to institute suit for the
enforcement of any payment on the Securities (other than as permitted in clause (8) below); or 
 (8) waive a continuing
Default or Event of Default regarding any principal or interest payment on the Securities of that series (except a rescission of acceleration of the Securities by Holders of at least a majority in aggregate principal amount of the then outstanding
Securities of that series and a waiver of the payment default that resulted from such acceleration). 
 It shall not be necessary for the
consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance of the proposed amendment. 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included
solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the
Holders of any other series. 
 A consent to any amendment or waiver under this Indenture by any Holder of the Securities given in
connection with a tender of such Holder’s Securities will not be rendered invalid by such tender. After an amendment under this Section becomes effective, the Issuer shall mail to Holders of each Security affected thereby a notice briefly
describing such amendment. The failure to give such notice to all Holders of each Security affected thereby, or any defect therein, shall not impair or affect the validity of an amendment, supplemental indenture or waiver under this
Section 9.02. 
 Section 9.03. Compliance with Trust Indenture Act. Every amendment or supplement to this Indenture or the
Securities shall comply with the Trust Indenture Act of 1939 as then in effect. 
 Section 9.04. Revocation and Effect of Consents
and Waivers. A consent to an amendment or a waiver by a Holder of a Security shall be in writing and bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee
receives the notice of revocation before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective with respect to a series of Securities, it shall bind every Holder of Securities of such series. 

  
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 For purposes of this Indenture, the written consent of the Holder of a Global Security shall be
deemed to include any consent delivered by an Agent Member by electronic means in accordance with the Automated Tender Offer Procedures system or other customary procedures of, and pursuant to authorization by, DTC. 

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. The Trustee may, but shall not be obligated to, fix a record date for the purpose of determining the Holders of Securities of any series entitled
to join in the giving, making or taking of (i) any notice pursuant to clause (4) of Section 6.01 of any Default, (ii) any declaration of acceleration pursuant to Section 6.02, (iii) any request to institute proceedings
pursuant to clause (2) Section 6.06, or (iv) any direction referred to in Section 6.05, in each case with respect to such series. If a record date is so fixed, then notwithstanding the second 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 become valid or effective more than 180 days after such record date. 

Section 9.05. Notation on or Exchange of Securities. If an amendment changes the terms of a Security, the Trustee may require the
Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Issuer so determines, the Issuer in exchange for the
Security shall issue and, upon an Issuer Order, the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment. 

Section 9.06. Trustee to Sign Amendments. The Trustee shall sign any amendment authorized pursuant to this Article IX if the
amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment the Trustee shall receive indemnity satisfactory to it and shall receive,
and (subject to Section 7.01 and Section 7.02) shall be fully protected in conclusively relying upon an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this
Indenture, that such amendment is the legal, valid and binding obligation of the Issuer enforceable against the Issuer in accordance with its terms, subject to customary exceptions, and that such amendment complies with the provisions hereof
(including Section 9.03). 
 Article X. 

Guarantee

Section 10.01. Unconditional Guarantee. The Guarantor does hereby fully and unconditionally guarantee to the Holders and to the
Trustee all Obligations of the Issuer under this Indenture, including without limitation on each series of Securities when due, in accordance with the provisions of this Indenture, as provided below. 

The Guarantor hereby waives notice of acceptance of the Guarantee and of default of performance by the Issuer, and hereby agrees that payment
under the Guarantee shall be subject to no condition other than the giving of a written request for payment, stating the fact of default of performance. This Guarantee is a guarantee of payment and not of collection. 

The obligations of the Guarantor under the Guarantee shall in no way be impaired by: (1) any extension, amendment, modification or
renewal of a series of Securities; (2) any waiver of any Event of Default, extension of time or failure to enforce any series of Securities; or (3) any extension, moratorium or other relief granted to the Issuer pursuant to any applicable
law or statute. 

  
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 The Guarantor shall be obligated to make payment under the Guarantee, for the benefit of the
Holders, at the same place as the Issuer is obligated to make payment. 
 Subject to the provisions of this Article X, the Guarantor hereby
agrees that: 
 (a) each series of Securities will be paid strictly in accordance with the terms of this Indenture,
regardless of the value, genuineness, validity, regularity or enforceability of such series of Securities, and of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Trustee
with respect thereto; and 
 (b) the liability of the Guarantor to the extent herein set forth shall be absolute,
unconditional and irrevocable, not subject to any reduction, limitation, impairment, termination (other than payment in full of the series of Securities or as otherwise expressly provided in this Indenture), defense, offset, counterclaim or
recoupment whatsoever (all of which are hereby expressly waived by the Guarantor to the extent permitted by law) whether by reason of any claim of any character whatsoever, including, without limitation, any claim of waiver, release, surrender,
alteration or compromise, or by reason of any liability at any time to the Guarantor or otherwise, whether based upon any obligations or any other agreement or otherwise, and howsoever arising, whether out of action or inaction or otherwise and
whether resulting from default, willful misconduct, gross negligence or otherwise, and without limiting the foregoing, irrespective of: 

(1) any lack of validity or enforceability of any agreement or instrument relating to such series of Securities; 

(2) any change in the time, manner or place of payment of, or in any other term in respect of, all or any of such series of
Securities, or any rescission, amendment or other modification or waiver of or consent to any departure from any of the terms or provisions of this Indenture, the Securities or any other agreement relating to any Securities of such series; 

(3) any increase in, addition to, exchange or release of, or nonperfection of any lien on or security interest in, any
collateral, or any release or amendment or waiver of or consent to any departure from or failure to enforce any other guarantee, for all or any of such series of Securities; 

(4) any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Issuer in respect of
such series of Securities; 
 (5) the absence of any action on the part of the Trustee to obtain payment of such series of
Securities from the Issuer; 
 (6) any insolvency, bankruptcy, reorganization or dissolution, or any similar proceeding of
the Issuer, including, without limitation, rejection of such series of Securities in such bankruptcy; or 
 (7) the absence
of notice or any delay in any action to enforce any Securities of such series or to exercise any right or remedy against the Guarantor or the Issuer, whether hereunder, under any Securities of such series or any agreement or any indulgence,
compromise or extension granted. 

  
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 Notwithstanding anything to the contrary in this Guarantee, the Guarantor does not waive any
defense that would be available to the Issuer based on a breach, default or misrepresentation by the Trustee, or failure of any condition to the Issuer’s obligations under this Indenture or the illegality of any provision of this Indenture.

 The Guarantor further agrees that, to the extent that the Issuer or the Guarantor makes a payment or payments to the Trustee, which
payment or payments or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be repaid to the Issuer or the Guarantor or their respective estate, trustee, receiver or any other party
under any federal bankruptcy laws, state or federal law, common law or equitable cause, then to the extent of such payment or repayment, this Guarantee and the advances or part thereof which have been paid, reduced or satisfied by such amount (and
the provisions of this Indenture in respect of the Guarantee) shall be reinstated and continued in full force and effect as of the date such initial payment, reduction or satisfaction occurred. 

Section 10.02. Execution and Delivery of the Indenture. If an officer whose signature is on this Indenture no longer holds that
office at the time the Trustee authenticates Securities of any series with respect to which the Guarantee is made or at any time thereafter, the Guarantee shall be valid nevertheless. 

The delivery of Securities of any series by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the
Guarantee set forth in this Indenture on behalf of the Guarantor. 
 Section 10.03. Waiver of Subrogation. The Guarantor shall
be subrogated to all rights of the Holders of each series of Securities and the Trustee against the Issuer in respect of any amounts paid to such Holders by the Guarantor pursuant to the provisions of the Guarantee; provided, however, that the
Guarantor shall not be entitled to enforce, or to receive any payments arising out of or based upon such right of subrogation until the principal of, interest on and additional interest, if any, payable in respect of all Securities of such series
issued under such Indenture shall have been paid in full. 
 Section 10.04. Assumption by Guarantor. The Guarantor may, without
the consent of the Holders, assume all of the rights and obligations of the Issuer hereunder with respect to a series of Securities and under the Securities of such series if, after giving effect to such assumption, no Event of Default or event
which with the giving of notice or lapse of time, or both, would become an Event of Default, shall have occurred and shall be continuing. Upon such an assumption, the Guarantor shall execute a supplemental indenture evidencing its assumption of all
such rights and obligations of the Issuer and the Issuer shall be released from its liabilities hereunder and under such Securities as obligor on the Securities of such series. 

Section 10.05. No Suspension of Remedies. Nothing contained in this Article X shall limit the right of the Trustee or the Holders
of Securities of any series to take any action to accelerate the maturity of the Securities of such series pursuant to Article VI or to pursue any rights or remedies hereunder or under applicable law. 

  
 45 

 Article XI. 

Satisfaction and Discharge 

Section 11.01. Satisfaction and Discharge. This Indenture will be discharged and will cease to be of further effect as to all
Securities of any series issued hereunder and the Guarantee thereof (except as to surviving rights of registration of transfer or exchange of such Securities and as otherwise specified hereunder), when: 

(1) either: 

(a) all Securities of such series that have been authenticated, except lost, stolen or destroyed Securities that have been
replaced or paid and Securities of such series for whose payment money has been deposited in trust and thereafter repaid to the Issuer, have been delivered to the Trustee for cancellation; or 

(b) all Securities of such series that have not been delivered to the Trustee for cancellation have become due and payable or
will become due and payable within one year by reason of the mailing of a notice of redemption or otherwise and the Issuer or the Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the
benefit of the Holders of Securities of such series, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will be sufficient without consideration of
any reinvestment of interest, to pay and discharge the entire indebtedness on such Securities not delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest and Additional Amounts, if any, to the date of maturity
or redemption; 
 (2) no Default or Event of Default with respect to such series has occurred and is continuing on the date
of the deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which
the Issuer, the Guarantor or any of their respective Subsidiaries is a party or by which the Issuer, the Guarantor or any of their respective Subsidiaries is bound; 

(3) the Issuer or the Guarantor has paid or caused to be paid all sums payable hereunder with respect to such series and
pursuant to Section 7.07; 
 (4) the Issuer has delivered irrevocable instructions to the Trustee hereunder to apply the
deposited money toward the payment of such Securities at fixed maturity or the Redemption Date, as the case may be; and 

(5) the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, which state that all
conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture with respect to such series have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to Securities of any series, the obligations of the Issuer and
the Guarantor to the Trustee under Section 7.07 and, if money shall have been deposited with the Trustee pursuant to subclause (b) of Clause (1) of this Section with 

  
 46 

 
respect to such Securities, the obligations of the Issuer of such series under Section 3.03 and the obligations of the Trustee under Section 11.02 with respect to such Securities shall
survive such satisfaction and discharge. 
 Section 11.02. Application of Trust Money. All money deposited with the Trustee
pursuant to Section 11.01 with respect to Securities of any series shall be held in trust and applied by it, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent
(including the Issuer, the Guarantor or any of their respective Subsidiaries acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money
has been deposited with the Trustee. All moneys deposited with the Trustee pursuant to Section 11.01 (and held by it or any Paying Agent) for the payment of Securities subsequently converted shall be returned to the Issuer upon Issuer Request,
to the extent originally deposited by the Issuer (or returned to the Guarantor upon Guarantor Request to the extent originally deposited by the Guarantor). The Issuer or the Guarantor, as applicable, may direct by an Issuer Order or Guarantor Order,
as applicable, the investment of any money deposited with the Trustee pursuant to Section 11.01, without distinction between principal and income, in (1) United States Treasury Securities with a maturity of one year, or less or (2) a
money market fund that invests solely in short term United States Treasury Securities, and from time to time the Issuer may direct the reinvestment of all or a portion of such money in other securities or funds meeting the criteria specified in
preceding clauses (1) or (2) of this sentence. 
 Article XII. 

Miscellaneous 

Section 12.01. Trust Indenture Act Controls. If 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. If any provision of this Indenture modifies or excludes any provision of the TIA which may be so modified or excluded, the
latter provision shall be deemed to apply to this Indenture as so modified or excluded, as the case may be. The Guarantor in addition to performing its obligations under the Guarantee shall perform such other obligations as may be imposed upon it
with respect to this Indenture under the TIA. 
 Section 12.02. Notices. Any notice or communication shall be in writing
(including facsimile and electronic transmission in PDF format) and delivered in person, by facsimile (or other electronic means), by overnight air courier guaranteeing next day delivery or mailed by first-class mail addressed as follows: 

if to the Issuer or the Guarantor: 

400 Atlantic Street, Suite 1500 

Stamford, CT 06901 
 Facsimile:
203-328-3978 
 E-mail: todd.suko@harman.com 

Attention: Todd Suko, Executive Vice President and General Counsel 

if to the Trustee: 
 U.S. Bank
National Association 
 225 Asylum Street, 23rd Floor 

Hartford, CT 06103 
 Facsimile:
(860) 241-6897 
 E-mail: melissa.dumont1@usbank.com 

Attention: Melissa Dumont 

  
 47 

 All notices and communications made, given, furnished or filed with or to the Trustee, the Issuer
or the Guarantor shall be deemed to have been duly made, given furnished or filed: (i) at the time delivered by hand, if personally delivered; (ii) when receipt is acknowledged, if sent by facsimile (or other electronic means);
(iii) the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next Business Day delivery; and (iv) five calendar days after being deposited in the mail, postage prepaid, if mailed. 

The Issuer, the Guarantor or the Trustee by notice to the others may designate additional or different addresses for subsequent notices or
communications. 
 Any notice or communication mailed to a registered Holder shall be mailed to the Holder at the Holder’s address as
it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. The Registrar shall provide the Issuer with address information with respect to the Holders as promptly as practicable
following the Issuer’s request therefor. Any notice or communication shall also be mailed to any Person described in TIA § 3.13(c), to the extent required by the TIA. 

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. 

Section 12.03. 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 Securities. The Issuer, the Guarantor, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

Section 12.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Issuer or the Guarantor
to the Trustee to take or refrain from taking any action under this Indenture, the Issuer or the Guarantor, as applicable, shall furnish to the Trustee: 

(1) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the
statements set forth in Section 12.05 hereof) 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 and substance reasonably satisfactory to the Trustee (which shall include the statements set
forth in Section 12.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion as to such matters in one or several documents.

 Any certificate or opinion of an Officer of the Issuer or the Guarantor may be based, insofar as it relates to legal matters, upon a
certificate or opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, and may state that it is so based, insofar as it 

  
 48 

 
relates to factual matters, upon a certificate or opinion of, or representations by, an Officer or Officers of the Issuer or the Guarantor stating that the information with respect to such
factual matters known to the Issuer or the Guarantor, unless such counsel knows that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 12.05.
Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (except for the Certificate specified in Section 3.05) 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.

 Section 12.06. When Securities Disregarded. In determining whether the Holders of the required principal amount of Securities
of any series have concurred in any direction, waiver or consent, Securities owned by the Guarantor, the Issuer or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Guarantor or the
Issuer 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 Securities which a Trust Officer of the
Trustee actually knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 

Section 12.07. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by, or a meeting of,
Holders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 Section 12.08. 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 12.09. GOVERNING LAW; WAIVER OF JURY TRIAL. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THERETO (OTHER THAN N.Y. GENERAL OBLIGATIONS LAW § 5-1401). THE APPLICATION OF THE PROVISIONS SET OUT IN ARTICLES 86 TO 94-8 OF THE

  
 49 

 
LUXEMBOURG COMPANIES ACT IS EXPRESSLY EXCLUDED. EACH OF THE ISSUER, THE GUARANTOR AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. 

Section 12.10. No Recourse Against Others. No director, manager, officer, employee, incorporator, member, partner, stockholder or
other owner of Capital Stock of the Issuer or the Guarantor, as such, will have any liability for any obligations of the Issuer or the Guarantor under the Securities, this Indenture or the Guarantee or for any claim based on, in respect of, or by
reason of such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. 

Section 12.11. Successors. All agreements of the Issuer and the Guarantor in this Indenture and the Securities shall bind its
successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 Section 12.12. 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. 
 Section 12.13.
Severability. In case any provision in this Indenture or in the Securities 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.

 Section 12.14. No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other
indenture, loan or debt agreement of the Guarantor, the Issuer or any Subsidiary or any other Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture, the Securities or the Guarantee. 

Section 12.15. 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 12.16. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or
natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with
accepted practices in the banking industry to resume performance as soon as reasonably practicable under the circumstances. 

Section 12.17. U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, 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 

  
 50 

 
identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such
information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act. 
 [Remainder of Page
Intentionally Left Blank; Signature Pages to Follow.] 

  
 51 

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

			
	HARMAN FINANCE INTERNATIONAL S.C.A.,
	acting through its general partner,
	Harman Finance International GP, S.à r.l.
	
	as Issuer
		
	By:		  

	Name:		
	Title:		
	
	HARMAN INTERNATIONAL INDUSTRIES, INCORPORATED,
	
	as Guarantor
		
	By:		  

	Name:		
	Title:		
	
	U.S. BANK NATIONAL ASSOCIATION,
	
	as Trustee
		
	By:		  

	Name:		
	Title:		

 Signature Page to Indentureexhibit_4-12.htm

Exhibit 4.12

 

RESTRUCTURING PLAN

(akkoord)

 

proposed by

 

PLAZA CENTERS N.V.

a public company incorporated in the Netherlands,

registered with the Dutch Chamber of Commerce, no. 33248324 (the “Company”)

 

in accordance with Article 252 of the Dutch Bankruptcy Code

 

to

 

The holders of unsecured Israeli Series A Notes issued by the Company

 

The holders of unsecured Israeli Series B Notes issued by the Company

 

The holders of unsecured Polish Bonds issued by the Company

 

All other unsecured non-preferred creditors of the Company

 

This Plan becomes effective on the Effective Date

 

  

  

  

 

TABLE OF CONTENTS

	  	  	  	  	  
	
1.

	  	
EXPLANATORY STATEMENT TO THE PLAN

	  	
3

	
1.1.

	  	
The Company

	  	
3

	
1.2.

	  	
Background of the Plan

	  	
3

	
1.3.

	  	
Purpose and Summary of the Plan

	  	
4

	
2.

	  	
DEFINED TERMS AND INTERPRETATION

	  	
5

	
2.1.

	  	
Defined Terms

	  	
5

	
2.2.

	  	
Rules of Interpretation and Annexes

	  	
17

	
3.

	  	
TERMS OF THE PLAN

	  	
17

	
3.1.

	  	
Terms Applicable to Noteholders

	  	
17

	
3.2.

	  	
Capital Injection and Issuance of Shares to Noteholders

	  	
23

	
3.3.

	  	
Terms Applicable to Guarantee Creditors

	  	
25

	
3.4.

	  	
Terms Applicable to Other Creditors

	  	
25

	
3.5.

	  	
Terms Applicable to all Plan Creditors

	  	
25

	
3.6.

	  	
Miscellaneous

	  	
29

 

Annexes

 

	 	
Annex

	  	
1

	  	
Example calculation Coverage Ratio

	 	
Annex

	  	
2

	  	
Revised Payment Schedule of Notes

	 	
Annex

	  	
3

	  	
Series A Notes (original Hebrew execution version and English translation)

	 	
Annex

	  	
4

	  	
Series B Notes (original Hebrew execution version and English translation)

	 	
Annex

	  	
5

	  	
Polish Bond Terms

	 	
Annex

	  	
6

	  	
Israeli Mutual Waiver of Claims (Hebrew version and English translation)

 

  

2

  

 

	  	  
	
1.

	
EXPLANATORY STATEMENT TO THE PLAN

	  	  
	
1.1.

	
The Company

	  	  
	
1.1.1.

	
The Company (www.plazacenters.com) is a leading emerging markets developer of shopping and entertainment centres in central and eastern Europe. It focuses on constructing new shopping and entertainment centres and, where there is significant redevelopment potential, redeveloping existing centres in capital cities and important regional centres. The Company’s shares are admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the main market for listed securities of the London Stock Exchange plc and, as of 19 October 2007, on the Warsaw Stock Exchange (LSE:”PLAZ”, WSE: “PLZ/PLAZACNTR”). The Company is an indirect subsidiary of Elbit Imaging Ltd., an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States.

	  	  
	
1.2.

	
Background of the Plan

	  	  
	
1.2.1.

	
The Company has been faced with challenging market conditions for some years. Adverse market conditions have primarily been caused by the underlying economic situation in many of the countries in which the Company operates, combined with the lack of transactional liquidity in the investment markets for assets such as those owned by the Company and the on-going lack of traditional bank financing available to real estate developers and investors.

	  	  
	
1.2.2.

	
Although the Company’s management team has made considerable progress in re-positioning the Company’s business model to ensure that it is focused on the deleveraging of its balance sheet and the recycling of capital, primarily through the disposal of its non-core assets, the Company has not been able to complete these transactions within a timeframe that will enable it to meet its short term obligations towards Bondholders (as defined herein). As a result, the Company is faced with significant liquidity problems.

	  	  
	
1.2.3.

	
Notwithstanding the liquidity issues, the Company continues to have a strong balance sheet, with a significant positive current net asset value, and owns assets and development opportunities that offer significant potential to deliver returns over the medium to long term.

	  	  
	
1.2.4.

	
Accordingly, the Company believes that, on a going concern basis, it retains substantial value for its stakeholders and will be able to repay its creditors in full, while the Company is certain that a forced liquidation would cause creditors and shareholders to incur significant losses.

 

  

3

  

 

	 	 
	
1.3.

	
Purpose and Summary of the Plan

	  	  
	
1.3.1.

	
The Plan is addressed to, and only binds the ordinary unsecured creditors of the Company.

	  	  
	
1.3.2.

	
The purpose of the Plan is to provide the Company with the ability to preserve value for its creditors by giving it time to resolve its liquidity situation and thereby avoiding a liquidation scenario. This will primarily be achieved through a deferral of payment obligations. Apart from the proposed payment deferral, the terms of the Plan do not require Noteholders to take a loss on the par value of their outstanding exposures.

	  	  
	
1.3.3.

	
Under the proposed terms of the Plan the principal payments under the Notes will be deferred by a period of 1 – 4,5 years, depending on the circumstances, as set forth in section 3.1 below.

	  	  
	
1.3.4.

	
The Company shall use a certain portion (at least 75%, subject to adjustments) of the Net Cash Flow that it receives from Dispositions of Real Estate Assets or new financings (including re-financing) in certain events to make early prepayments on the Notes and will be entitled to make further or other early prepayments on the Notes at any time without incurring a penalty.

	  	  
	
1.3.5.

	
As compensation for the deferral the Noteholders will receive an additional 1.5% annual interest payable on the Notes. In addition, they will receive Company shares representing effectively ca. 13.21% of the outstanding share capital and the voting rights in the Company (post such issuance and post Capital Injection).

	  	  
	
1.3.6.

	
Under the proposed terms of the Plan, Guarantee Claims (as defined below) will be deferred for a period of four years and will only be enforceable after the collateral granted as security for the underlying loan has been realized. The amount of the Guarantee Claim will be reduced to the extent that the collateral is sold at a price below 90% of the fair market value as determined by a reputable appraiser. It is expected that creditors of Guarantee Claims will effectively be repaid in full with priority from the proceeds of the collateral provided for the underlying loans.

	  	  
	
1.3.7.

	
Claims of all other ordinary unsecured creditors will be deferred for a period of four years.

	  	  
	
1.3.8.

	
In order to further strengthen the position of the creditors, the Company shall raise additional capital in the amount of approximately EUR 20 million by means of a rights issue.

 

  

4

  

	  	  
	
1.3.9.

	
The Plan includes “negative pledge”, “no new Financial Indebtedness” and “Coverage Ratio” covenants (subject to certain exceptions) in favour of all creditors bound by this Plan and certain limitations on “Distributions” (including dividends). In addition, the Plan includes certain financial covenants with respect to the realization of certain Real Estate Assets of the Group and with respect to the purchase and development of Real Estate Assets.

	  	  
	
1.3.10.

	
The Plan includes a mutual “waiver from claims” provision, in favour of the Company, the shareholders of the Company, and their respective directors and officers, the Noteholders and the Israeli Trustees, and other affiliated parties, as detailed below.

	  	  
	
1.3.11.

	
The Company is confident that, upon implementation of the Plan, the long term viability of the Company will be secured and the Company will be able to repay its creditors in full in accordance with the terms of the Plan.

	  	  
	
2.

	
DEFINED TERMS AND INTERPRETATION

	 	 
	2.1.	Defined Terms
	  	  
	
2.1.1.

	
In this Plan, the following words and expressions have, unless the context otherwise requires, the meanings set out below:

	  	  	  	  	  
	  	
Additional Capital Injection

	  	
A capital injection into the Company after the Amendment Date either against issuance of Shares or in the form of Subordinated Debt, in an accumulated amount of at least EUR 20 million, which is in addition to and beyond the Capital Injection.

	  	  	  	  	  
	  	
Additional Israeli Notes

	  	
The additional Israeli Notes issued to Israeli Noteholders in satisfaction of unpaid interest accrued on the Israeli Notes until 31 December 2013 in accordance with clause 3.1.4.

	  	  	  	  	  
	  	
Additional Shares

	  	
The additional Shares to be issued to the Israeli Trustees in accordance with section 3.2.

	  	  	  	  	  
	  	
Amendment Date

	  	
The Amendment Date is the date on which the amendment of the Original Terms of the Notes enters into effect as set by the Company in accordance with section 3.1.16. It is hereby clarified that in any event the Amendment Date will occur after 5 the Effective Date as defined below.

 

  

5

  

 

	  	  	  	  	  
	  	
Annex

	  	
An annex to this Plan.

	  	  	  	  	  
	  	
Asset Value

	  	
The value of the Company’s rights in all assets held directly by the Company or indirectly through Subsidiaries or affiliated companies (in such case, the value of the relevant asset shall be multiplied by the effective holding percentage of the Company in the Subsidiary or the affiliated company which holds the relevant asset, as the case may be), all of which in accordance with the most up-to-date valuations as available to the Company on the date of determination of the Asset Value, and if and to the extent at such date, in the opinion of the Company’s management, a devaluation occurs (with respect to the up-to-date valuation) with regard to any such asset, the value of the asset will be updated accordingly. For the purpose of calculating the Asset Value, the value of the Casa Radio project in Romania (a mixed use retail, leisure and office project comprising GBA 555,000 sqm including parking spaces) shall be: (i) EUR 50 million; or (ii) the fire sale value appraised on a distressed basis, in the event that: (a) an investor or a partner has entered into a participation (directly or indirectly) entitling him to at least 20% of the economic interest in the Casa Radio project or (b) a binding arrangement is reached with the relevant Romanian authorities with respect to the timetable for executing the Casa Radio project or an agreement is reached on the extension of the term of the lease of the land that is used for the Casa Radio project or (c) the Group has entered into a debt finance agreement for the project in an amount of no less than EUR 25 million; or (iii) the value based on an up-to-date valuation on a non-distressed basis in the event that nine (9) months have lapsed since an investor or a partner has entered into a participation (directly or indirectly) entitling him to at least 20% of the economic interest in the Casa Radio project or the Group has entered into a debt finance agreement for the project in an amount of no less than EUR 25 million.

 

  

6

  

 

	  	  	  	  	  
	  	  	  	
The Asset Value as defined above is only relevant for the purpose of calculating the Coverage Ratio.

	  	  	  	  	  
	  	
Business Day

	  	
A day which is a business day on which banks conduct regular operations in the Netherlands, Israel and Poland.

	  	  	  	  	  
	  	
Capital Injection

	  	
A capital injection into the Company of at least EUR 20 million minus the aggregate nominal value of the Noteholder Shares and the Additional Shares, by means of a rights issue.

	  	  	  	  	  
	  	
Cash Reserve

	  	
The aggregate balance of all cash and cash equivalents (that may be included in the Company’s consolidated financial statements under the items cash and cash equivalents and under the items short term deposits, financial assets held for trading or long term deposits of the Group (“additional Cash Value”, provided that such Additional Cash Value can be converted into cash immediately and without limitation on its use by the Group).

	  	  	  	  	  
	  	
Commencement Date

	  	
18 November 2013, being the date on which the preliminary suspension of payment proceedings of the Company commenced.

	  	  	  	  	  
	  	
Company

	  	
Plaza Centers N.V.

	  	  	  	  	  
	  	
Coverage Ratio

	  	
Is equal to (A) – (B) / (D) × 100%, where (A) is equal to the Asset Value plus the cash and cash equivalents; (B) is equal to the liabilities of the Group owed to banks that are secured by an Encumbrance over any rights or assets of the Group or structurally or otherwise rank in priority ahead of the Plan Claims; and (D) is equal to the aggregate amount of remaining Plan Claims plus all other liabilities of the Group that rank pari passu with the Plan Claims and that are not Subordinated Debt. An example of the calculation of the Coverage Ratio is attached as Annex 1.

 

  

7

  

 

	  	  	  	  	  
	  	
DBC

	  	
The Dutch Bankruptcy Code (Faillissementswet).

	  	  	  	  	  
	  	
Deferred Debt Ratio

	  	
Series A – 21.23%, Series B – 70.44%, Polish Bonds – 8.33%. In the event, that the one of series of Notes has been repaid in full prior to the full repayment of the other series of Notes, then as of such date, the Deferred Debt Ratio, shall be divided pro-rata between the remaining series of Notes based on the aforesaid ratios.

	  	  	  	  	  
	  	
Disposition

	  	
Sale, lease, assignment, grant, transfer, encumbrance or any other disposal of assets, rights, property, or any part thereof.

	  	  	  	  	  
	  	
Distribution

	  	
A distribution of dividend to the Company’s shareholders and/or any other dividend-like distribution to the Company’s shareholders, including share repurchase.

	  	  	  	  	  
	  	
Effective Date

	  	
The date on which the Plan becomes effective and binding on all Plan Creditors, being the date on which the confirmation decision (homologatiebeslissing) of the Amsterdam District Court becomes irrevocable (in kracht van gewijsde gegaan);

	  	  	  	  	  
	  	
Elbit

	  	
Elbit Ultrasound (Luxembourg) B.V./S.à.r.l. together with Elbit Imaging Ltd.

	  	  	  	  	  
	  	
Encumbrance

	  	
Any pledge, charge, assignment by way of pledge or any other form of security.

	  	  	  	  	  
	  	
Examination Date

	  	
The date of approval of the Company’s consolidated audited annual financial statements or its consolidated reviewed quarterly financial statements, as the case may be.

	  	  	  	  	  
	  	
Exercise Event

	  	
Any of the following events: (i) a Disposition of a Real Estate Asset of the Company or a Subsidiary, (ii) the incurrence of any new Financial Indebtedness by the Company or a Subsidiary but excluding new Financial Indebtedness incurred for the purpose of purchase of, investment in or development of a Real Estate Asset, or (iii) the refinancing of a Real Estate Asset, but excluding a refinancing for the purpose of an investment in or the development of a Real Estate Asset.

 

  

8

  

 

	  	  	  	  	  	  
	  	
Financial Indebtedness

	  	
A debt that is owed to a financial creditor of the Company or a Subsidiary, including debts owed under guarantees that have been granted and/or which the Company and/or a Subsidiary will grant, but excluding:

	  	  	  	  	  	  
	  	  	  	  	
(i)

	
guarantees and/or undertakings granted in connection with completion and performance of a project regarding the construction or development of a Real Estate Asset (cost overrun guarantees);

	  	  	  	  	  	  
	  	  	  	  	
(ii)

	
guarantees granted in the ordinary course of business in a cumulative amount which shall not exceed EUR 200,000-;

	  	  	  	  	  	  
	  	  	  	  	
(iii)

	
loans granted directly to the Company by one or more of its shareholders, provided that: (a) the interest rate of the loan is not higher than the lowest interest rate due under the Notes, (b) in the event the loan is not repaid within a period of six (6) months, it shall become Subordinated Debt; and (c) the lenders are not permitted to call for an immediate repayment of the loan or to demand the Company’s liquidation in connection with such loan; and

	  	  	  	  	  	  
	  	  	  	  	
(iv)

	
Subordinated Debt.

	  	  	  	  	  	  
	  	
First Interest Payment Date

	  	
The date after 12 calendar days have lapsed from the First Record Date or such other the date as the Tel Aviv Stock Exchange may determine.

	  	  	  	  	  	  
	  	
First Record Date

	  	
The first Trading Day following the day on which the Noteholder Shares and the Additional Israeli Notes have been issued.

	  	  	  	  	  	  
	  	
Group

	  	
The Company together with all Subsidiaries.

	  	  	  	  	  	  
	  	
Guarantee Claim

	  	
Any claim of a Plan Creditor against the Company guaranteeing or otherwise securing one or more claims that such Plan Creditor has against a Subsidiary or third party.

 

  

9

  

 

	  	  	  	  	  
	  	
Guarantee Creditor

	  	
A Plan Creditor with a Guarantee Claim.

	  	  	  	  	  
	  	
Israeli Noteholders

	  	
Series A Noteholders and Series B Noteholders.

	  	  	  	  	  
	  	
Israeli Notes

	  	
Series A Notes and Series B Notes.

	  	  	  	  	  
	  	
Israeli Trustees

	  	
The Series A Trustee and the Series B Trustee jointly.

	  	  	  	  	  
	  	
Koregaon Park Project

	  	
The project known as Koregaon Park Plaza located in Pune, India.

	  	  	  	  	  
	  	
London Stock Exchange

	  	
London Stock Exchange, plc.

	  	  	  	  	  
	  	
LTC Ratio

	  	
The amount of the loan used to finance the relevant project, divided by the cost of the project as estimated on the date of the granting of the loan, multiplied by 100% (“loan to cost”). For the purpose of calculating the LTC Ratio, the “cost of the project” shall include the construction cost of the project, including the entire construction, planning, and development costs, as well as the cost of the land.

	  	  	  	  	  
	  	
Majority

	  	
Any of the Plan Creditors whose remaining Plan Claims aggregate more than 67% of the total Plan Claims held by the Plan Creditors that have voted at a particular meeting convened for the purpose of voting on a particular matter.

	  	  	  	  	  
	  	
Minimum Cash Reserve

	  	
Shall mean:

	  	  	  	  	  	  
	  	  	  	  	
(i)

	
the amount estimated by the Company’s management required to pay all administrative and general expenses and interest payments to the Noteholders falling due in the following six (6) months, minus sums of proceeds from transactions that have already been signed (by the Company or a Subsidiary) and closed and that to the expectation of the Company’s management have a high probability of being received during the following six (6) months; or

 

  

10

  

 

	  	  	  	  	  	  
	  	  	  	  	
(ii)

	
in the event an Additional Capital Injection has occurred: an amount calculated in accordance with sub-section (i) above whereby the aforesaid period of six (6) months is reduced to three (3) months.

	  	  	  	  	  	  
	  	  	  	  	
After repayment or prepayment of an aggregate amount of at least NIS 434,000,0001 of the principal of the Notes, excluding linkage differentials, the Minimum Cash Reserve as calculated under sub-sections (i) or (ii) above (as applicable) shall be reduced by 50%.

	  	  	  	  	  	  
	  	
Minimum Coverage Ratio

	  	
A Coverage Ratio equal to (i) 118%, or (ii) 115% in the event that an Additional Capital Injection occurs or (iii) 120% in the event any of the following circumstances occur in relation to the Casa Radio project: (a) a third party investor or partner has entered into a participation (directly or indirectly) entitling him to at least 20% of the interest in the Casa Radio project; or (b) a binding arrangement with the relevant Romanian authorities has been reached with respect to the timetable for executing the Casa Radio project, or an agreement has been reached on the extension of the lease period for the land that is used for the Casa Radio project; or (c) the Company has entered into a debt finance agreement for the project in amount of at least EUR 25 million.

	  	  	  	  	  	  
	  	
Minimum LTC Ratio

	  	
The minimum LTC Ratio shall be:

	  	  	  	  	  	  
	  	  	  	  	
(i)

	
50% or,

	  	  	  	  	  	  
	  	  	  	  	
(ii)

	
40% in the event that a partner enters, directly or indirectly, the relevant existing project against a cash or cash equivalent investment (but excluding against offsetting debt) and is entitled, directly or indirectly, to at least 20% of the rights in the project.

 

1 If the repayment is not in NIS – pursuant to the exchange rate of the foreign currency compared to the NIS on the repayment date.

 

 

11

 

 

	  	  	  	  
	  	
Net Asset Value of the Unsold Shopping Malls

	  	
The amount equal to the value of the Unsold Shopping Malls based on the most recent valuation in the Company’s possession minus the balance of the Financial Indebtedness of the Subsidiaries holding (the rights to) the relevant Unsold Shopping Malls. In the event of a sale of part of the rights in one of the said malls, then the value of the unsold rights in the said mall shall be added to the Net Asset Value of the Unsold Shopping Malls, for the purpose of calculating the Coverage Ratio.

	  	  	  	  
	  	
Net Cash Flow

	  	
The net proceeds in cash actually received by the Company, as the result of an Exercise Event that occurred after 15 May 2014. For the avoidance of doubt: net proceeds means the proceeds actually received by the Company, after deducting: (1) the full debt amount that has to be repaid to banks as a result of the Exercise Event, (2) the full debt amounts repaid to the banks in case of a refinancing, (3) in case the relevant Exercise Event occurred in a Subsidiary – the sums required for repaying the existing undertakings towards the creditors of that Subsidiary due to such Exercise Event; and (4) all direct expenses related to the asset, such as fees, and direct sale expenses to third parties, brokerage expenses, loan expenses and tax expenses (as the case may be) but excluding overhead and costs of the Group’s officers and employees.

	  	  	  	  
	  	
NIS

	  	
New Israeli Shekel.

	  	  	  	  
	  	
Noteholder Shares

	  	
The Shares issued to the Noteholders in accordance with clause 3.2.

	  	  	  	  
	  	
Noteholders

	  	
Series A Noteholders, Series B Noteholders and Polish Noteholders.

	  	  	  	  
	  	
Notes

	  	
The Series A Notes, the Series B Notes and the Polish Bonds, jointly;

 

  

12

  

 

	  	  	  	  
	  	
Original Terms of the Notes

	  	
The original terms and conditions of the Series A Trust Deed, the Series B Trust Deed, and the Polish Bond Terms as those applied before being amended and restated pursuant to this Plan.

	  	  	  	  
	  	
Other Claims

	  	
All unsecured non-preferred claims against the Company other than claims arising out of Notes or Guarantee Claims.

	  	  	  	  
	  	
Other Creditors

	  	
All creditors with Other Claims.

	  	  	  	  
	  	
Outstanding Notes Debt

	  	
The Unpaid Principal Balance of the Notes plus the accrued and unpaid interest due pursuant to the terms of the Notes outstanding at any relevant time in respect of the Notes.

	  	  	  	  
	  	
Plan

	  	
This restructuring plan (akkoord) including all Annexes.

	  	  	  	  
	  	
Plan Claims

	  	
All unsecured non-preferred claims against the Company that are subject to this Plan pursuant to Article 273 DBC.

	  	  	  	  
	  	
Plan Creditors

	  	
All creditors with Plan Claims.

	  	  	  	  
	  	
Polish Bond Terms

	  	
The original terms and conditions of the series A bonds with a nominal value of PLN 100,000 per bond and total nominal value of PLN 60,000,000 issued by the Company on 16 November 2010 under Polish law with ISIN: NL0009524107, as set forth in the offering memorandum dated 16 November 2010, and subsequently amended and restated pursuant to this Plan.

	  	  	  	  
	  	
Polish Bonds

	  	
All notes issued and outstanding pursuant to the Polish Bond Terms.

	  	  	  	  
	  	
Polish Bonds Deferred Interest

	  	
The interest accrued and not yet paid for the principal of the Polish Bonds until December 31, 2013. As per December 31, 2013, the Polish Bonds Deferred Interest amounts to PLN 2,764,997, which amounts to EUR 665,574.71 using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

 

  

13

  

 

	  	  	  	  
	  	
Polish Noteholders

	  	
Plan Creditors that are holders of Polish Bonds;

	  	  	  	  
	  	
Real Estate Asset

	  	
Rights in lands or in real estate projects of various types (such as: residential, malls and mixed-use projects of commercial and residential property) as well as rights in an entity holding any of the aforesaid assets.

	  	  	  	  
	  	
Series A Deferred Interest

	  	
The interest accrued and not yet paid on the principal of the Series A Notes until December 31, 2013, linked to the Israeli consumer index pursuant to the Series A Trust Deed. As per December 31, 2013, the Series A Deferred Interest amounts to NIS 6,652,927, which amounts to EUR 1,389,500.21, using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

	  	  	  	  
	  	
Series A Noteholders

	  	
Holders of Series A Notes.

	  	  	  	  
	  	
Series A Notes

	  	
All notes issued and outstanding pursuant to the Series A Trust Deed;

	  	  	  	  
	  	
Series A Trust Deed

	  	
The Trust Deed dated 4 July 2007 by and between the Company and Hermetic Trust (1975) Ltd. as trustee to the Series A Noteholders, as amended by Amendments No. 1 and 2. to that Trust Deed dated 31 January 2008 and March 10, 2014, respectively as subsequently amended and restated pursuant to this Plan.

	  	  	  	  
	  	
Series A Trustee

	  	
Hermetic Trust (1975) Ltd.

	  	  	  	  
	  	
Series B Deferred Interest

	  	
The interest accrued and not yet paid on the principal of the Series B Notes until December 31, 2013, linked to the Israeli consumer index pursuant to the Series B Trust Deed. As per December 31, 2013, the Series B Deferred Interest amounts to NIS 16,055,758, which amounts to EUR 3,353,332.92, using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

 

  

14

  

 

	  	  	  	  
	  	
Series B Noteholders

	  	
Holders of Series B Notes.

	  	  	  	  
	  	
Series B Notes

	  	
All notes issued and outstanding pursuant to the Series B Trust Deed;

	  	  	  	  
	  	
Series B Trust Deed

	  	
The trust deed dated 31 January 2008 by and between the Company and Reznik Paz Nevo Trust Ltd. as trustee as amended by Amendment No. 1 to that trust deed dated 17 February 2008, and March 10, 2014, as subsequently amended and restated pursuant to this Plan.

	  	  	  	  
	  	
Series B Trustee

	  	
Reznik Paz Nevo Trust Ltd.

	  	  	  	  
	  	
Shares

	  	
Ordinary shares in the Company of EUR 0.01 par value each.

	  	  	  	  
	  	
Shopping Malls

	  	
The four shopping malls (directly or indirectly) held by Subsidiaries of the Company known as Torun Plaza and Suwalki Plaza located in Poland, Kragujevac Plaza in Serbia, and Riga Plaza in Latvia.

	  	  	  	  
	  	
Subordinated Debt

	  	
Means debt that is subordinated to the Plan Claims. Debt shall be considered to be subordinated to the Plan Claims if such debt may not be repaid, before the Plan Claims have been satisfied in full, and shall also be a subordinated debt in case of liquidation.

	  	  	  	  
	  	
Subsidiary

	  	
All corporations, limited liability companies, partnerships, joint ventures, joint stock companies and other entities in which the Company holds, directly or indirectly, at least 50% of the capital or the rights (as the case may be) or an entity controlled, directly or indirectly, by the Company.

	  	  	  	  
	  	
Suspension of Payment Proceedings

	  	
The preliminary suspension of payment proceedings (voorlopige surseance van betaling) applicable to the Company.

 

  

15

  

 

	  	  	  	  
	  	
TASE

	  	
Tel Aviv Stock Exchange Ltd.

	  	  	  	  
	  	
Terms of the Notes

	  	
The terms and conditions set forth in the Series A Trust Deed, the Series B Trust Deed and the Polish Bond Terms.

	  	  	  	  
	  	
Trading Day

	  	
A day on which trading occurs on the TASE.

	  	  	  	  
	  	
Trust Deeds

	  	
The Series A Trust Deed and the Series B Trust Deed.

	  	  	  	  
	  	
Unpaid Principal Balance of the Notes

	  	
The Unpaid Principal Balance of the Series A Notes, the Unpaid Principal Balance of the Series B Notes, and the Unpaid Principal of the Polish Bonds, jointly, all expressed in euro’s using the exchange rate as published by the European Central Bank at the relevant time. As of December 31, 2013, the aggregate Unpaid Principal Balance of the Notes amounts to EUR 205,804,336.91, using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

	  	  	  	  
	  	
Unpaid Principal Balance of the Polish Bonds

	  	
The outstanding balance, as it may be from time to time, of the nominal value of the unpaid Polish Bonds plus, for the purpose of this definition, the Polish Bonds Deferred Interest. As of December 31, 2013, this balance amounts to PLN 62,764,997 (including the Polish Bonds Deferred Interest) which amounts to EUR 15.108.441,13 using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

	  	  	  	  
	  	
Unpaid Principal Balance of the Series A Notes

	  	
The outstanding balance, as it may be from time to time, of the nominal value of the unpaid Series A Notes (which as of January 1, 2014 will also include the Series A Deferred Interest), all of which is linked to the Israeli consumer index as set forth in the Series A Trust Deed. As of December 31, 2013, this balance amounts to NIS 302,338,505 (including the Series A Deferred Interest), which amounts to EUR 63,145,051.17, using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

 

  

16

  

 

	  	  	  	  
	
2.2.

	
Unpaid Principal Balance of the Series B Notes

	  	
The outstanding balance, as it may be from time to time, of the nominal value of the unpaid Series B Notes (which as of January 1, 2014 will also include the Series B Deferred Interest), all of which is linked to the Israeli consumer index as set forth in the Series B Trust Deed. As of December 31, 2013, this balance amounts to NIS 610,713,444 (including the Series B Deferred Interest), which amounts to EUR 127,550,844.61, using the exchange rate per close of business on 31 December 2013 as published by the European Central Bank.

	  	  	  	  
	  	
Unsold Shopping Malls

	  	
The remaining (rights in any) Shopping Malls at any time (or any part thereof) that have not yet been sold.

 

	  	  	  
	
Rules of Interpretation and Annexes

	  	  	  
	
2.2.1.

	
For purposes of this Plan, unless otherwise provided herein:

	  	  	  
	  	
(i)

	
whenever from the context it is appropriate, each term, whether stated in the singular or the plural, will include both the singular and the plural;

	  	  	  
	  	
(ii)

	
the Annexes form a binding and integral part of this Plan and any reference to this Plan shall include a reference to the Annexes.

	  	  	  
	
3.

	
TERMS OF THE PLAN

	  	  
	
3.1.

	
Terms Applicable to Noteholders

	  	  
	  	
As of the Amendment Date the Original Terms of the Notes shall be amended as follows:

	  	  
	  	
Deferral of principal payments

	
3.1.1.

	
Each principal payment under the Notes due in the years 2013, 2014 and 2015 pursuant to the Original Terms of the Notes shall be deferred by exactly four and a half (4,5) years and each principal payment due pursuant to the Original Terms of the Notes in subsequent years (i.e., 2016 and 2017) will be deferred by exactly one (1) year.

	  	  
	
3.1.2.

	
In the event that the Company does not succeed in prepaying an aggregate amount of at least NIS 434,000,0002 of the principal of the Notes, excluding linkage differentials within a period of two years from the Amendment Date or before 1 December 2016 (whichever is earlier), then all principal payments under the Notes deferred in accordance with clause 3.1.1. above, shall be advanced by one (1) year (i.e., shall become due one (1) year earlier).

 

2If the repayment is not in NIS – pursuant to the exchange rate of the foreign currency compared to the NIS on the repayment date.

 

  

17

  

 

	  	  
	
3.1.3.

	
The revised payment schedules under the Notes are attached as Annex 2.

	  	  
	  	
Interest payments

	
3.1.4.

	
All unpaid interest accrued on the Israeli Notes until and including 31 December 2013 shall be paid by the Company by issuing shortly following the Amendment Date such additional number of Series A Notes to the Series A Noteholders and such additional number of Series B Notes to the Series B Noteholders (Additional Israeli Notes) that the total notional amount of the Additional Israeli Notes increased with the linkage differential accrued until and including December 31, 2013, is at least equal to the amount of unpaid interest accrued until and including 31 December 2013. The Additional Israeli Notes shall be issued in satisfaction of the unpaid interest accrued until said date for no further consideration.

	  	  
	
3.1.5.

	
All unpaid interest accrued on the Polish Bonds until and including 31 December 2013 shall be paid on the earlier of (i) the early redemption date, (ii) the call option redemption date or (iii) the redemption date as defined in the Polish Bond Terms together with all annually compounded interest calculated as from the Amendment Date with the same interest periods and rates as applicable to the principal due under the Polish Bonds.

	  	  
	
3.1.6.

	
On the First Interest Payment Date, the Company shall make an interest payment to the Noteholders in an amount that is equal to the higher of: (i) EUR 11.6 million, or (ii) the accrued and unpaid interest on the Notes as of January 1 2014 until the last day prior to the First Interest Payment Date. If the amount of EUR 11.6 million is the higher, then this amount will be divided among and paid to the Noteholders as follows: Series A – EUR 2.50 million, Series B – EUR 8.17 million, Polish Bonds – EUR 0.93 million. These amounts shall first be applied towards payment of unpaid interest accrued on the Notes as of 1 January 2014 until the First Interest Payment Date. Any remainder shall be an advance on and be set-off against future interest payments.

	  	  
	
3.1.7.

	
The amount to be paid to the Israeli Noteholders in accordance with section 3.1.6 above, shall be deposited in a trust account or with a nominee company prior to the Amendment Date as stipulated in the Trust Deeds.

	  	  
	
3.1.8.

	
All interest accrued on the Notes after the First Interest Payment Date shall be paid on the ordinary (bi-annual) interest payment dates in accordance with the Terms of the Notes.

 

  

18

  

	  	  	  	  	  
	  	
Interest rate

	
3.1.9.

	
Effective from 1 January 2014, the interest rate applicable to the Notes shall increase by 1.5% per annum.

	  	  	  	  	  
	  	
Discretionary Early Prepayments of the Notes

	
3.1.10.

	
The Company shall be allowed to make early prepayments on any part of the Outstanding Notes Debt without any penalty becoming due.

	  	  	  	  	  
	  	
Mandatory Early Prepayment of the Notes

	  	
(I)

	
Calculating the Mandatory Prepayment Amount

	
3.1.11.

	
Upon the Occurrence of an Exercise Event as a result of which a positive Net Cash Flow is generated, the Company shall make an early prepayment of the Outstanding Notes Debt, in a total amount that is equal to the Mandatory Prepayment Amount (as defined below), which will include the following amounts and be calculated as follows:

	  	  	  	  
	  	  	
(a)

	
“Interest Prepayment Amount” - the amount of interest on the Unpaid Principal Balance of the Notes that has accrued in the given interest period (until the early repayment date) but has not yet fallen due, plus any applicable linkage differentials on such interest; and

	  	  	  	  
	  	  	
(b)

	
“Principal Prepayment Amount” - 75% of the Balance of the Net Cash Flow (as defined below).

	  	  	  	  
	  	  	
 

	
However, in the event an Additional Capital Injection occurs and 50% or 60% of the Unpaid Principal Balance of the Notes outstanding on the Amendment Date has already been repaid3, the aforesaid 75% ratio will be decreased to 60% or 50%, respectively.

	  	  	  	  	  
	  	  	
 

	
The Interest Prepayment Amount and the Principal Prepayment Amount, are hereinafter collectively referred to as the: “Mandatory Prepayment Amount”.

	  	  	  	  	  
	  	
(II)

	
Balance of the Net Cash Flow

	  	
 

	
“Balance of the Net Cash Flow” shall mean: the balance (if any) of the Net Cash Flow generated as a result of an Exercise Event, after deducting: (1) 100% (or less, at the Company’s discretion) of the Interest Prepayment Amount - in case the Exercise Event is related to the Shopping Malls; or (2) 50% (or less, at the Company’s discretion) of  the Interest Prepayment Amount in case the Exercise Event is unrelated to the Shopping Malls, provided, that such balance is positive.

 

3 Excluding repayment of Notes which were sold by a Subsidiary following the Amendment Date.

 

  

19

  

 

	  	  	  	  	  
	  	
(III)

	
The Use of the Amounts under the Mandatory Early Prepayment

	  	  	
The Interest Prepayment Amount shall be used for the prepayment of interest that has accrued on the Notes in the given interest period but not yet fallen due. The Principal Prepayment Amount shall be used for the prepayment of the Unpaid Principal Balance of the Notes to be allocated among the Noteholders in proportion to the Deferred Debt Ratio, and shall be applied towards repayment of the first principal payments falling due in accordance with the Terms of the Notes.

	  	  	  	  	  
	  	
(IV)

	
Minimum Prepayment Amount

	  	  	
Any early prepayment under this section 3.1.11 shall be made only in case the Mandatory Prepayment Amount is higher than EUR 2 million. In the event, the Mandatory Prepayment Amount is not higher than EUR 2 million (“Minimum Amount”) it will be paid together with a future Mandatory Early Prepayment if and when the sum exceeds the Minimum Amount.

	  	  	  	  	  
	  	
(V)

	
Timing of Mandatory Early Prepayment

	  	  	
Mandatory Early Prepayment shall be performed, if required, within a calendar quarter following the date on which Company has received the Net Cash Flow, and no more than once in each calendar quarter.

	  	  	  	  	  
	  	  	
Notwithstanding the aforesaid, in case the receipt of Net Cash Flow triggering the Early Mandatory Prepayment provisions in this section 3.1.11 occurs during the period that begins on May 15, 2014 and ends on the Amendment Date, then such Early Prepayment shall be made on the First Interest Payment Date.

	  	  	  	  	  
	  	
(VI)

	
Receipt of Net Cash Flow by a Subsidiary

	  	  	
In the event that the Net Cash Flow from the relevant Exercise Event is received by a Subsidiary, the Company will perform any action reasonably required in order to procure that the Net Cash Flow is transferred from the relevant Subsidiary to the Company no later than 14 days following receipt of the proceeds by the Subsidiary, unless such transfer is not possible within the said timeframe due to legal and/or other regulatory limitations or due to other limitations which are not under the Company’s or the Subsidiary’s control. In case such limitations exist, the Company shall act to remove the relevant limitations and transfer the relevant Net Cash Flow to the Company on the date on which such limitation is removed and during that period the Subsidiary will not use the relevant Net Cash Flow and this amount will be deposited in solid bank deposit. Sums which were not transferred from the relevant Subsidiary to the Company within 14 days following receipt of the proceeds by the Subsidiary, due to limitations which are not under the Company’s or the Subsidiary’s control, shall only be used, once transferred to the Company, for repayment of principal.

 

  

20

  

 

	  	  	  	  	  
	  	
(VII)

	
Mandatory Early Prepayment of the Outstanding Notes Debt under this section 3.1.11 shall not be made by way of purchase of the Notes.

	  	  	  	  	  
	  	
(VIII)

	
Notwithstanding the aforesaid, the Mandatory Early Prepayment obligation shall not apply to any proceeds from Koregaon Park Project.

	  	  	  	  	  
	  	
Restrictions on Issuance of Additional Notes

	
3.1.12.

	
The Company undertakes not to issue any additional Notes other than as expressly provided for in this Plan.

	  	  	  	  	  
	  	
Issuance of additional Securities

	
3.1.13.

	
Subject to the terms of this Plan and the Terms of the Notes, the Company shall be entitled to issue, at any point in time, without the need to obtain any approval of the Noteholders or the Israeli Trustees, other notes or other series of notes or other securities of any kind or type whatsoever, and on such terms as the Company shall deem fit.

	  	  	  	  	  
	  	
Restrictions on Amendments to the Terms of the Notes

	
3.1.14.

	
The Company shall not be entitled to amend the Terms of the Notes, with the exception of purely technical changes, unless such amendment is approved under the terms of the relevant series and the applicable law and the Company also obtains the approval of the Noteholders of all other series of notes issued by the Company by ordinary majority.

	  	  	  	  	  
	  	
Amendment of the Original Terms of the Notes

	
3.1.15.

	
The amendment of the Original Terms of the Notes shall enter into effect on The Amendment Date. Before the amendment of the Original Terms of the Notes pursuant to this Plan becomes effective, the Company shall do all that is necessary to procure that by no later than 30 November 2014:

	  	  	  	  	  
	  	  	
(i)

	
a Capital Injection has occurred;

	  	  	  	  	  
	  	  	
(ii)

	
the Shares of the Company have been listed on the Tel Aviv Stock Exchange;

 

  

21

  

 

	  	  	  	  	  
	  	  	
(iii)

	
a pre-ruling from the Israeli tax authority is received on the tax implications for the Israeli Note Holders resulting from the amendment of the Original Terms of the Notes.

	  	  	  	  	  
	  	  	
(iv)

	
the Israeli Trustees have received signed undertakings from the Subsidiaries as set forth in section 3.5.14 below4.

	  	  	  	  	  
	  	  	
(v)

	
the amount of interest to be paid to the Israeli Noteholders on the First Interest Payment Date pursuant to section 3.1.6 of this Plan, has been deposited in a Trust Account or with the Nominee Company as defined and stipulated in the Trust Deeds;

	  	  	  	  	  
	  	  	
(vi)

	
an amount of NIS 25,000 has been deposited with each of the Israeli Trustees as required under section 4c of the Trust Deeds.

	  	  	  	  	  
	
3.1.16.

	
The Company shall set a date that lies within a period of 10 Trading Days after completion of the actions set forth in section 3.1.15 above, on which date the amendment of the Original Terms of the Notes pursuant to this Plan shall take effect (the Amendment Date).

	  	  	  	  	  
	
3.1.17.

	
As of the Amendment Date the Original Terms of the Notes shall be amended and restated as set forth in Annex 3 (Series A Trust Deed), Annex 4 (Series B Trust Deed) and Annex 5 (Polish Bond Terms).

	  	  	  	  	  
	
3.1.18.

	
During the period between the Effective Date and the Amendment Date (assuming the Effective Date will occur before the Amendment Date) (i) the Original Terms of the Notes shall remain in effect, albeit that Noteholders shall not be entitled to demand payment or enforce any claims under the Notes, unless and to the extent expressly provided otherwise in this Plan, and (ii) the Company shall do nothing that is forbidden under the terms of this Plan.

	  	  	  	  	  
	
3.1.19.

	
If the Company has failed to procure that all of the actions set forth in section 3.1.15 are completed before 30 November 2014, or fails to procure that the Additional Israeli Notes and the Noteholder Shares are issued in accordance with the terms of this Plan within 10 Trading Days following the Amendment Date, this Plan shall cease to be effective and the Original Terms of the Notes shall return to full force and effect.

	  	  	  	  	  
	
3.1.20.

	
The Terms of the Notes should be interpreted in conjunction with the terms of the Plan. In the event of a conflict between the terms of the Plan and the Terms of the Notes, the Terms of the Notes shall prevail.

 

4 Any future new Subsidiary established folllowing the Amendment Date, shall sign and deliver to the Israeli Trustees a respective undertaking following its establishment.

 

  

22

  

 

	  	  	  	  	  
	
3.2.

	
Capital Injection and Issuance of Shares to Noteholders

	  	  	  	  	  
	  	
Capital Injection by means of rights issue

	
3.2.1.

	
The Company shall procure that a Capital Injection occurs after the Effective Date and before 30 November 2014 by means of a rights issue.

	  	  	  	  	  
	  	
Issue of Noteholder Shares

	
3.2.2.

	
Following the Amendment Date the Company shall issue new Shares representing on a aggregate basis (post issuance) 13.2106% of the Company’s Shares issued and outstanding following the Capital Injection, to the Noteholders recorded as such on the Amendment Date (with the exception of a Subsidiary that holds Notes) at nominal value (EUR 0.01).

	  	  	  	  	  
	
3.2.3.

	
The Noteholder Shares shall be allocated among the Noteholders recorded as such on the Amendment Date as follows: Series A - 2.8660%; Series B –9.2197%; Polish Bonds –1.1249%. Noteholders shall not be entitled to fractional shares and the number of shares to be allocated to each Bondholder shall be rounded down to the nearest integer.

	  	  	  	  	  
	
3.2.4.

	
The Company shall procure that the Noteholder Shares and the Additional Israeli Notes are listed for trade on the TASE, as soon as practicable after issuance.

	  	  	  	  	  
	  	
Payment of nominal value by issue of Additional Shares

	
3.2.5.

	
Simultaneously with the issue of the Noteholder Shares to the Noteholders, the Company shall issue Additional Shares to the Israeli Trustees.

	  	  	  	  	  
	
3.2.6.

	
The number of Additional Shares to be issued shall be equal to:

	  	  	  	  	  
	  	  	  	
(N × EUR 0.01) / (S – EUR 0.01) rounded down to the nearest integer

	  	  	  	  	  
	  	  	  	
where:

	  	  	  	
N = the number of Noteholder Shares to be issued

	  	  	  	
S = the subscription price of the rights issue for the Capital Injection expressed in euro’s using the exchange rate (if applicable) as published by the ECB on the date that Elbit deposits the purchase price for the Additional Shares as stipulated below.

 

  

23

  

 

	  	  	  	  	  
	
3.2.7.

	
The Additional Shares shall be allocated among the Israeli Trustees as follows:

	  	  	  	  	  
	  	  	  	
Series A Trustee:          (A + P) / T

	  	  	  	
Series B Trustee:          B / T

	  	  	  	  	  
	  	  	  	
Where

	  	  	  	
A = the number of Noteholder Shares allocated to the Series A Noteholders

	  	  	  	
B = the number of Noteholder Shares allocated to the Series B Noteholders

	  	  	  	
P = the number of Noteholder Shares allocated to the Polish Noteholders

	  	  	  	
T = the total number of Noteholder Shares.

	  	  	  	  	  
	
3.2.8.

	
The Israeli Trustees shall, and are hereby instructed to, sell the Additional Shares to be received by each of them to Elbit at a purchase price per Share that is equal to the subscription price of the rights issue for the Capital Injection.

	  	  	  	  	  
	
3.2.9.

	
Elbit shall deposit the purchase price (the “Purchase Price”) for the Additional Shares allocated to each of the Israeli Trustees in an account designated by them, before the Noteholder Shares and the Additional Shares are issued.

	  	  	  	  	  
	
3.2.10.

	
The Series A Trustee shall, and is hereby instructed to, use the Purchase Price received by it to pay the nominal capital contribution of EUR 0.01 per share that is due to the Company for the issue of Noteholder Shares to the Series A Noteholders and the Polish Bondholders and for the issue of Additional Shares allocated to the Series A Trustee.

	  	  	  	  	  
	
3.2.11.

	
The Series B Trustee shall, and is hereby instructed, to use the Purchase Price received by it to pay the nominal capital contribution of EUR 0.01 per share that is due to the Company for the issue of Noteholder Shares to the Series B Noteholders and for the issue of Additional Shares allocated to the Series B Trustee.

	  	  	  	  	  
	
3.2.12.

	
Simultaneously with the payment of the nominal contribution due to the Company for the issue of the Noteholder Shares and the Additional Shares, the Israeli Trustees shall, and are instructed to, transfer the Additional Shares held by each of them to Elbit.

	  	  	  	  	  
	
3.2.13.

	
The Noteholders hereby release the Israeli Trustees from and waive any (potential) liability in connection with the issue, sale and transfer of the Additional Shares and the application of the Purchase Price towards payment of the nominal capital contribution for the Noteholder Shares and Additional Shares as set out above.

 

  

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3.3.

	
Terms Applicable to Guarantee Creditors

	  	  
	
3.3.1.

	
Guarantee Creditors shall not exercise their rights under any Guarantee Claim for a period of four (4) years from the Effective Date. After said four (4) year period, a Guarantee Creditor is allowed to enforce its Guarantee Claim provided that:

	  	
  (i)

	
all collateral granted as security for the underlying guaranteed obligation has been realised; and

	  	
  (ii)

	
without prejudice to any further limitation contained in the relevant guarantee or undertaking, if the actual proceeds are lower than 90% of the fair market value of the realized collateral, the remaining Guarantee Claim shall be reduced by the difference between 90% of the fair market value of the collateral as determined by an external appraiser (to be agreed between the relevant Guarantee Creditor and the Company and failing such agreement the President of the District Court of Amsterdam) within a period of not more than three months prior to the sale of the asset on the one hand and the actual proceeds realized by the relevant Guarantee Creditor on the other hand.

	  	  	  
	
3.4.

	
Terms Applicable to Other Creditors

	  	  
	
3.4.1.

	
All Other Claims will be deferred by a period of four (4) years as of the Effective Date.

	  	  
	
3.5.

	
Terms Applicable to all Plan Creditors

	  	  
	  	
Coverage Ratio covenant

	
3.5.1.

	
In the event that the Coverage Ratio is lower than the Minimum Coverage Ratio, then as from the first Examination Date on which a breach of the Coverage Ratio covenant has been established and for as long as the breach is continuing, the Company shall not perform any of the following: (a) a sale, directly or indirectly, of a Real Estate Asset owned by the Company or a Subsidiary, with the exception that it shall be permitted to transfer Real Estate Assets in performance of an obligation to do so that was entered into prior to the said Examination Date, (b) investments in new Real Estate Assets; or (c) an investment that regards an existing project of the Company or of a Subsidiary, unless it does not exceed a level of 20% of the construction cost of such project (as approved by the lending bank of these projects) and the LTC Ratio of the project remains equal to or greater than the Minimum LTC Ratio.

	  	  
	
3.5.2.

	
The Coverage Ratio will be examined four (4) times per year on the approval date of the Company’s consolidated audited annual financial statements and of its consolidated reviewed quarterly financial statements and the Company shall report on compliance with this covenant on each Examination Date.

 

  

25

  

 

	  	  	  
	
3.5.3.

	
If a breach of the Minimum Coverage Ratio covenant has occurred and continued throughout a period comprising two (2) consecutives Examination Dates following the first Examination Date on which such breach has been established, then such breach shall constitute an event of default under the Trust Deeds and Polish Bond Terms, and the group of (i) Series A Noteholders, (ii) Series B Noteholders, (iii) Polish Bondholders, and (iv) Guarantee and Other Creditors shall, each as a separate group acting by Majority vote, be entitled to declare by written notice to the Company that all or a part of their respective (remaining) Plan Claims become immediately due and payable.

	  	  
	  	
Limitations on Incurring new Financial Indebtedness by the Company and the Subsidiaries

	
3.5.4.

	
The Company undertakes not to incur any new Financial Indebtedness (including by way of refinancing an existing Financial Indebtedness with new Financial Indebtedness) until the Outstanding Notes Debt has been repaid in full, except in any of the following events:

	  	
  (i)

	
the new Financial Indebtedness is incurred for the purpose of investing in the development of a Real Estate Asset, provided that: (a) the LTC Ratio of the investment is not less than the Minimum LTC Ratio; (b) the new Financial Indebtedness is incurred by the Subsidiary that owns the Real Estate Asset or, if the Financial Indebtedness is incurred by a different Subsidiary, any Encumbrance created as security for such new Financial Indebtedness is permitted under section 3.5.7(i) below; and (c) following such investment the Cash Reserve is not less than the Minimum Cash Reserve;

	  	
  (ii)

	
the new Financial Indebtedness is incurred by a Subsidiary for the purpose of purchasing a new Real Estate Asset by such Subsidiary, provided that following such purchase the Cash Reserve is not less than the Minimum Cash Reserve.

	  	
  (iii)

	
at least 75% of the Net Cash Flow resulting from the incurrence of new Financial Indebtedness is used to for a Mandatory Early Prepayment of the Notes under section 3.1.11 above. It shall be clarified that, subject to the terms of this Plan, the Group may also refinance existing Financial Indebtedness if this does not generate Net Cash Flow.

	  	  	  
	
3.5.5.

	
Notwithstanding the aforesaid, in the event that an Additional Capital Injection occurs then the restrictions under section 3.5.4 shall not apply to investments in an aggregate amount less than or equal to the amount of the Additional Capital Injection.

 

  

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Negative Pledge on Real Estate Assets of the Company

	
3.5.6.

	
The Company undertakes that until the Outstanding Notes Debt has been repaid in full, it shall not create any Encumbrance on any of the Real Estate Assets, held, directly or indirectly, by the Company except in the event that the Encumbrance is created over the Company’s interests in a Subsidiary as additional security for Financial Indebtedness incurred by such Subsidiary which is secured by Encumbrances on assets owned by that Subsidiary as permitted by the terms of this Plan.

	  	  
	  	
Negative Pledge on the Real Estate Assets of Subsidiaries

	
3.5.7.

	
The Subsidiaries shall undertake that until the Outstanding Notes Debt has been repaid in full, none of them will create any Encumbrance on any Real Estate Assets except in the event that:

	  	
  (i)

	
the Subsidiary creates an Encumbrance over a Real Estate Asset owned by such Subsidiary exclusively as security for new Financial Indebtedness incurred for the purpose of purchasing, investing in or developing such Real Estate Asset; Notwithstanding the aforesaid, Subsidiaries shall be entitled to create an Encumbrance on land as security for Financial Indebtedness incurred for the purpose of investing in and developing, but not for purchasing, a Real Estate Asset held by a different Group company (hereinafter: a “Cross Pledge”), provided the total value of the lands owned by the Group charged with Cross Pledges after the Commencement Date does not exceed EUR 35 million, calculated on the basis of book value (the “Sum of Cross Pledges”). When calculating the Sum of Cross Pledges, lands that were charged with Cross Pledges created prior to the Commencement Date or created solely for the purpose of refinancing an existing Financial Indebtedness shall be excluded.

	  	  	  
	  	
  (ii)

	
the Encumbrance is created over an asset as security for new Financial Indebtedness that replaces existing Financial Indebtedness and such asset was already encumbered prior to the refinancing. For the avoidance of doubt, any Net Cash Flow generated from such refinancing, shall be subject to the Mandatory Early Prepayment provision in section 3.1.11 above;

	  	  	  
	  	
  (iii)

	
the Encumbrance is created over interests in a Subsidiary as additional security for Financial Indebtedness incurred by such Subsidiary which is secured by Encumbrances on assets owned by that Subsidiary as permitted by sub-section (i) above, or

	  	  	  
	  	
  (iv)

	
the Encumbrance is created as security for New Financial Indebtedness that is incurred for purposes other than the purchase of and/or investment in and development of a Real Estate Asset, provided that at least 75% of the Net Cash Flow generated from such new Financial Indebtedness is used for Mandatory Early Prepayment in accordance with section 3.1.11 above.

 

  

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Permitted Disposals

	
3.5.8.

	
The Company and the Subsidiaries shall not procure or permit the occurrence of an Exercise Event with respect to any Real Estate Asset of the Group unless the Net Cash Flow resulting from such Disposal is used for Mandatory Early Prepayment in accordance with section 3.1.11 above.

	  	  
	
3.5.9.

	
The Company and the Subsidiaries shall not perform or permit a Disposition, directly or indirectly, or a refinancing of the Shopping Malls, unless the cumulative Net Cash Flow resulting from such Disposition or refinancing amounts to at least EUR 70 million. If the Disposition or the refinancing occurs only with respect to some but not all of the Shopping Malls, then such Disposition or refinancing shall not be permitted unless the Net Asset Value of the Unsold Shopping Malls plus the aggregate Net Cash Flows received from the intended Disposition or refinancing and from any previous Disposition or refinancing of a Shopping Mall amounts to at least EUR 70 million.

	  	  
	  	
Permitted Investments

	
3.5.10.

	
The Company agrees that an investment in new or existing Real Estate Assets of the Group shall only be permitted provided following such investment the Cash Reserve is not less than the Minimum Cash Reserve and the Coverage Ratio not less than the Minimum Coverage Ratio.

	  	  
	
3.5.11.

	
In the event the Coverage Ratio is lower than the Minimum Coverage Ratio, investments in existing projects of the Company or of Subsidiaries shall only be permitted if the investment does not exceed a level of 20% of the construction cost of such project (as approved by the lending bank of these projects) and the LTC Ratio of the project remains equal to or greater than the Minimum LTC Ratio in accordance with section 3.5.1(c) above.

	  	  
	  	
No Distributions

	
3.5.12.

	
The Company shall not make any Distributions, unless (i) at least 75% of the Unpaid Principal Balance of the Notes as per the Amendment Date has been repaid5 and the Coverage Ratio on the last Examination Date prior to such Distribution is not less than 150% following such Distribution, or (ii) a Majority of the Plan Creditors consents to the proposed Distribution.

	  	  
	
5 For the purpose of this examination, the repayment of Notes sold by a Subsidiary of the Company after the Amendment Date shall not be considered as repaid Notes.

 

  

28

  

 

	  	  
	
3.5.13.

	
Notwithstanding the aforesaid, in the event an Additional Capital Injection occurs, then after one year following the date of the Additional Capital Injection, no restrictions other than those under the applicable law shall apply to dividend distributions in an aggregate amount up to 50% of such Additional Capital Injection.

	  	  
	  	
Undertakings of Subsidiaries

	
3.5.14.

	
Each of the Subsidiaries shall undertake (subject to the Plan becoming effective and the amendment of the Original Terms of the Notes pursuant to this Plan entering into effect) to act in accordance with and to be bound by and to comply with the obligations and undertakings set forth in sections 3.1.11(VI), 3.5.1, 3.5.4, 3.5.7, 3.5.8, 3.5.9 and 3.5.11 of this Plan and shall issue such undertaking no later than 4 June 2014.

	  	  
	  	
Waiver of Claims

	
3.5.15.

	
Each Plan Creditor hereby releases, to the extent permitted by law, the Company and all other companies of the Group, the current and former directors and officers of the Group, all direct and indirect shareholders of the Group (and their respective directors, officers, employees, agents, counsels or anyone acting on their behalf), from any and all liability under any applicable law other than with respect to claims or demands regarding which the grounds are fraud or malice or other ground for which a release is not permitted by law.

	  	  
	
3.5.16.

	
Without derogating from the aforesaid, full and binding mutual waiver of claims with respect to the Series A Noteholders and the Series B Noteholders, will enter into effect on the Amendment Date, attached as Annex 6 to this Plan.

	  	  
	
3.6.

	
Miscellaneous

	  	  
	  	
The Company shall as from the Effective Date publish its annual reviewed consolidated financial statements to the public, no later than three (3) calendar months following the end of the calendar year. In addition, as of the Effective Date and until the Outstanding Notes Debt has been repaid in full, the Company undertakes to publish reviewed consolidated financial statements on a quarterly basis, no later than two (2) months following the end of each of the first three (3) calendar quarters of each year. The Company shall include, within the quarterly and annual financial statements, a detailed report regarding its compliance with the undertakings under sections 3.5.1, 3.5.4, 3.5.6, 3.5.7, 3.5.8, 3.5.9, 3.5.10. 3.5.11 and 3.5.12 of this Plan and the performance of Mandatory Early Prepayments under section 3.1.11 of this Plan.

 

  

29

  

 

	  	  
	
3.6.1.

	
The Company will use reasonable endeavours to ensure that the general and administrative expenses, based on the Company’s current level of operations, does not exceed an amount of EUR 7.5 million per year.

	  	  
	
3.6.2.

	
Each Plan Creditor shall provide all cooperation and take all such further actions as may be required to give effect to, execute and implement this Plan and the debt restructuring contemplated thereby.

	  	  
	
3.6.3.

	
This Plan will not be binding and will not create any rights or obligations and no rights can be derived or inferred from the Plan before the Effective Date.

	  	  
	
3.6.4.

	
Any notice or request made to the Company in connection with this Plan shall be made in writing and made by courier or certified mail to:

	  	  
	  	
Plaza Centers N.V.

Prins Hendrikkade 48-S

1012 AC Amsterdam

The Netherlands

Attention: Mr. Uzi Eli

Email: uzi.eli@plazacenters.com.

	  	  
	  	
In each case with copy (which shall not constitute notice hereunder) to:

	  	  
	  	
RESOR N.V.

PO Box 75965

1070 AZ Amsterdam

The Netherlands

Attention: Mr. N.W.A. Tollenaar

Email: nico.tollenaar@resor.nl

	  	  
	
3.6.5.

	
This Plan, as well as all rights and obligations arising out of or in connection with this Plan, shall be governed by the laws of the Netherlands, without prejudice to the fact that the Series A Trust Deed, the Series B Trust Deed and the Polish Bond Terms are and shall continue to be governed by Israeli and Polish law respectively.

 

	
3.6.6.

	
The Court of Amsterdam, the Netherlands shall have exclusive jurisdiction over any dispute arising out of or in connection with this Plan, without prejudice to the fact that any dispute arising from the Series A Trust Deed, the Series B Trust Deed and the Polish Bond Terms is and shall remain subject to the (exclusive) jurisdiction of the Israeli and Polish courts, as applicable.

 

30

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