Document:

Exhibit

Exhibit 10.6

OMNIBUS AMENDMENT 

This Omnibus Amendment (this “Amendment”), dated as of September 24, 2015 amends (a) the Common Terms Agreement, dated as of June 30, 2015 (as it may be further amended, restated, supplemented or otherwise modified from time to time, the “Common Terms Agreement”), by and among Sabine Pass Liquefaction, LLC, a Delaware limited liability company (the “Borrower”), Société Générale as the Secured Debt Holder Group Representative for the Commercial Banks Facility, as the Common Security Trustee (in such capacity, the “Common Security Trustee”) and as the Intercreditor Agent (in such capacity, the “Intercreditor Agent”), Shinhan Bank New York Branch, as the Secured Debt Holder Group Representative for the KEXIM Direct Facility and the KEXIM Covered Facility, The Korea Development Bank New York Branch, as the Secured Debt Holder Group Representative for the KSURE Covered Facility, The Bank of Nova Scotia, as the Secured Debt Holder Group Representative for the Working Capital Debt and other Secured Debt Holder Group Representatives party thereto from time to time, the Secured Hedge Representatives and the Secured Gas Hedge Representatives party thereto from time to time, and (b) the Second Amended and Restated Security Agreement, dated as of June 30, 2015 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”), between the Borrower and the Common Security Trustee. All capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Common Terms Agreement and, if not defined therein, the Security Agreement.
WHEREAS, the Borrower has requested that the Secured Debt Holder Group Representatives for the Commercial Banks Facility, the KEXIM Direct Facility, the KEXIM Covered Facility, the KSURE Covered Facility and the Working Capital Debt, the Common Security Trustee, the Intercreditor Agent, and each of the Facilities Lenders and the Working Capital Lenders (collectively, the “Lenders” and each individually, a “Lender”) agree to amend the Common Terms Agreement and the Security Agreement as set forth herein; and
WHEREAS, the Secured Debt Holder Group Representatives for the Commercial Banks Facility, the KEXIM Direct Facility, the KEXIM Covered Facility, the KSURE Covered Facility and the Working Capital Debt, the Common Security Trustee, the Intercreditor Agent, and each Lender are willing to amend the Common Terms Agreement and the Security Agreement as set forth herein.
NOW, THEREFORE, in consideration of the foregoing premises and the agreements, provisions and covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
Section 1.     Amendments to Common Terms Agreement. The Borrower, the Secured Debt Holder Group Representatives for the Commercial Banks Facility, the KEXIM Direct Facility, the KEXIM Covered Facility, the KSURE Covered Facility and the Working Capital Debt, the Common Security Trustee, the Intercreditor Agent, and each Lender agrees that:
1.1     Section 7.12(a) (Negative Covenants; Accounts) of the Common Terms Agreement shall be amended and restated as follows:
		
	“(a)
	Other than Permitted Investments held in accordance with the Accounts Agreement for which the Borrower is a beneficiary, the Borrower shall not open or maintain, or permit or instruct any other Person to open or maintain on its behalf, or use or be the beneficiary of any account other than (i) the Accounts, (ii) the Excluded Unsecured Accounts and (iii) an account holding Escrowed Amounts (as defined in each EPC Contract).”

1.2     Schedule 1 to the Common Terms Agreement is hereby amended by adding the following definitions thereto in proper alphabetical sequence:

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““Excluded Unsecured Accounts” means segregated Deposit Accounts (as defined in Article 9 of the UCC) constituting (and the balance of which consists solely of funds set aside in connection with) margin accounts for Permitted Hedging Agreements of the type described in clause (b) of the definition thereof (including the funds or other property held in or maintained in any such account), entered into in the ordinary course of business, for so long as each such Permitted Hedging Agreement does not constitute a Secured Gas Hedge.”
Section 2.     Amendments to Security Agreement. The Borrower, and the Common Security Trustee agree that:
2.1     The definition of “Ineligible Property” under Section 1.1 to the Security Agreement is hereby amended and restated as follows:
““Ineligible Property” shall mean any (a) Government Approval, Easement, agreement (other than any Material Project Document), which by its terms or by operation of Government Rule would become void, voidable, terminable or revocable or in respect of which the Grantor would be deemed to be in breach or default thereunder if any Government Approval, Easement or agreement or the Grantor’s interest thereunder were pledged or assigned hereunder or if a security interest therein were granted hereunder, to the extent necessary to avoid such voidness, voidability, terminability, revocability, breach or default, (b) property that is subject to a purchase money Lien or a Lien securing Capital Lease Obligations permitted pursuant to clause (c) of the definition of "Permitted Indebtedness" and clause (f) of the definition of "Permitted Liens" in the Common Terms Agreement, but only if the terms of the agreement creating such Lien or Capital Lease Obligation prohibits, or requires the consent of any Person other than the Grantor or its Affiliates as a condition to the creation of any other Lien on such property and such provision has not been waived or consent to the Common Security Trustee's Lien has not been obtained, (c) the Improved Facilities (as defined in the Cooperation Agreement) together with all drawings, tracings, specifications, plans, manuals and other technical documents related thereto, (d) from and after the date on which they are required to be transferred pursuant to Section 6.3 of the Cooperation Agreement, warranties from the Construction Contractors (as defined in the Cooperation Agreement) covering the Improved Facilities, (e) "intent to use" trademark applications, (f) those assets as to which the Common Security Trustee and the Grantor agree from time to time in writing that either (1) the cost of obtaining a security interest in or perfection thereof, (2) the adverse tax consequences to the Grantor, or (3) the adverse regulatory consequences to the Grantor, or the Project, is or are excessive in relation to the benefit to the Secured Parties of the Security afforded thereby, and (g) the Train 6 FOB Sale and Purchase Agreements and related guarantees (but only to the extent and for so long as such agreements do not constitute Additional Material Project Documents), and (h) the Excluded Unsecured Accounts.”
Section 3.     Effectiveness. This Amendment shall become effective as of the date hereof only upon the execution of this Amendment by the Common Security Trustee and receipt by the Common Security Trustee of executed counterparts of this Amendment by each of the Borrower, the Intercreditor Agent, the Secured Debt Holder Group Representatives for the Commercial Banks Facility, the KEXIM Direct Facility, the KEXIM Covered Facility, the KSURE Covered Facility and the Working Capital Debt, and the Required Secured Parties constituting the Majority Aggregate Secured Credit Facilities Debt Participants (as defined in the Intercreditor Agreement).
Section 4.     Representations and Warranties. The Borrower hereby represents and warrants to the Lenders that:
4.1     no Default or Event of Default has occurred and is continuing as of the date hereof or will result from the consummation of the transactions contemplated by the Amendment; and
4.2     each of the representations and warranties of the Borrower in the Common Terms Agreement and the other Financing Documents is true and correct in all material respects except for (A) those representations and warranties that are qualified by materiality, which shall be true and correct in all respects, on and as of the date hereof (or, if stated to have been made solely as of an earlier date, as of 

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such earlier date) and (B) the representations and warranties that, pursuant to Section 4.1(b) (General) of the Common Terms Agreement, are not deemed repeated.
Section 5.     Financing Document. This Amendment constitutes a Financing Document as such term is defined in, and for purposes of, the Common Terms Agreement.
Section 6.     Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA, WITHOUT ANY REFERENCE TO THE CONFLICT OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION 5- 1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
Section 7.     Headings. All headings in this Amendment are included only for convenience and ease of reference and shall not be considered in the construction and interpretation of any provision hereof.
Section 8.     Binding Nature and Benefit. This Amendment shall be binding upon and inure to the benefit of each party hereto and their respective successors and permitted assigns.
Section 9.     Counterparts. This Amendment may be executed in multiple counterparts, each of which shall be deemed an original for all purposes, but all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or portable document format (“pdf’) shall be effective as delivery of a manually executed counterpart of this Amendment.
Section 10.     No Modifications; No Other Matters. Except as expressly provided for herein, the terms and conditions of the Common Terms Agreement and the Security Agreement shall continue unchanged and shall remain in full force and effect. Each amendment granted herein shall apply solely to the matters set forth herein and such amendment shall not be deemed or construed as an amendment of any other matters, nor shall such amendment apply to any other matters.
Section 11.     Direction to Secured Credit Facilities Debt Holder Group Representatives, Intercreditor Agent and Common Security Trustee.
		
	a.
	With respect to the Term Loan A Credit Agreement, by their signature below, each of the undersigned Commercial Bank Lenders instructs the Commercial Banks Facility Agent to (i) execute this Amendment and (ii) direct the Intercreditor Agent to execute this Amendment.

		
	b.
	With respect to the KEXIM Direct Facility, by its signature below, KEXIM instructs the KEXIM Facility Agent to (i) execute this Amendment and (ii) direct the Intercreditor Agent to execute this Amendment.

		
	c.
	With respect to the KEXIM Covered Facility, by its signature below, in accordance with Section 9.13 of the KEXIM Covered Facility Agreement, KEXIM instructs the KEXIM Facility Agent, on behalf of all KEXIM Covered Facility Lenders, to (i) execute this Amendment and (ii) direct the Intercreditor Agent to execute this Amendment.

		
	d.
	With respect to the KSURE Covered Facility, in accordance with Section 9.13 of the KSURE Covered Facility Agreement, KSURE instructs the KSURE Covered Facility Agent, on behalf of all KSURE Covered Facility Lenders, to (i) execute this Amendment and (ii) direct the Intercreditor Agent to execute this Amendment.

		
	e.
	With respect to the Working Capital Facility, by their signature below, each of the undersigned Working Capital Facility Lenders instructs the Working Capital Facility Agent to (i) execute this Amendment and (ii) direct the Intercreditor Agent to execute this Amendment.

		
	f.
	Based on the instructions above, each of the Commercial Banks Facility Agent, the KSURE Covered Facility Agent, the KEXIM Facility Agent and the Working Capital Facility Agent, constituting the Majority Aggregate Secured Credit Facilities Debt Participants (as defined in the Intercreditor Agreement), 

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hereby directs the Intercreditor Agent to (i) execute this Amendment and (ii) direct the Common Security Trustee to execute this Amendment. By its signature below, the Intercreditor Agent, in such capacity, hereby directs the Common Security Trustee to execute this Amendment.
[Remainder of the page left intentionally blank.]

    

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IN WITNESS WHEREOF, the Parties have caused this Amendment to be duly executed by their officers thereunto duly authorized as of the day and year first above written.

	
			
	SABINE PASS LIQUEFACTION, LLC

	as the Borrower

	 
	 
	 

	By:
	/s/ Lisa C. Cohen

	 
	 
	 

	Name:
	Lisa C. Cohen

	Title:
	Treasurer

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	SOCIÉTÉ GÉNÉRAL

	as Common Security Trustee and Secured Debt Holder Group Representative for the Commercial Banks Facility

	 
	 
	 

	By:
	/s/ Ellen Turkel

	 
	 
	 

	Name:
	Ellen Turkel

	Title:
	Director

	 
	 
	 

	 
	 
	 

	
			
	SOCIÉTÉ GÉNÉRAL

	as Intercreditor Agent

	 
	 
	 

	By:
	/s/ Ellen Turkel

	 
	 
	 

	Name:
	Ellen Turkel

	Title:
	Director

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	THE EXPORT-IMPORT BANK OF KOREA

	 
	 
	 

	By:
	/s/ Lee Do Hyung

	 
	 
	 

	Name:
	Lee Do Hyung

	Title:
	Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	SHINHAN BANK NEW YORK BRANCH,

	as the Secured Debt Holder Group Representative for the KEXIM Direct Facility, the Secured Debt Holder Group Representative for the KEXIM Covered Facility and the KEXIM Facility Agent

	 
	 
	 

	By:
	/s/ Jinsoo Bae

	 
	 
	 

	Name:
	Jinsoo Bae

	Title:
	GENERAL MANAGER

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	THE KOREA BANK DEVELOPMENT BANK NEW YORK BRANCH,

	as the Secured Debt Holder Group Representative for the KSURE Covered Facility and the KSURE Covered Facility Agent

	 
	 
	 

	By:
	/s/ Jin Hwan Sah

	 
	 
	 

	Name:
	Jin Hwan Sah

	Title:
	Senior Deputy General Manager

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	THE BANK OF NOVA SCOTIA,

	as the Secured Debt Holder Group Representative for the Working Capital Facility

	 
	 
	 

	By:
	/s/ Mark Sparrow

	 
	 
	 

	Name:
	Mark Sparrow

	Title:
	Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	ABN AMRO CAPITAL USA LLC,

	as Commercial Bank Lender, Senior Issuing Bank and Working Capital Lender

	 
	 
	 

	By:
	/s/ Kaylan Hopson

	 
	 
	 

	Name:
	Kaylan Hopson

	Title:
	Vice President

	
			
	By:
	/s/ Darrell Holley

	 
	 
	 

	Name:
	Darrell Holley

	Title:
	Managing Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	BANK OF AMERICA, N.A.,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Ronald E. McKaig

	 
	 
	 

	Name:
	Ronald E. McKaig

	Title:
	Managing Director

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	THE BANK OF NOVA SCOTIA

	as Commercial Bank Lender, Senior Issuing Bank and Working Capital Lender

	 
	 
	 

	By:
	/s/ Mark Sparrow

	 
	 
	 

	Name:
	Mark Sparrow

	Title:
	Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	CRÉDIT INDUSTRIEL ET COMMERCIAL,

	as Commercial Bank Lender and Working Capital Lender

	 
	 
	 

	By:
	/s/ Philippe Ginestet

	 
	 
	 

	Name:
	Philippe Ginestet

	Title:
	Crédit Industriel et Commercial

	
			
	By:
	/s/ Raphaël Vincens

	 
	 
	 

	Name:
	Raphaël Vincens

	Title:
	Analyste

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Nupor Komar

	 
	 
	 

	Name:
	Nupor Komar

	Title:
	Authorized Signatory

	
			
	By:
	/s/ Jayant Rao

	 
	 
	 

	Name:
	Jayant Rao

	Title:
	Authorized Signatory

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	GOLDMAN SACHS BANK USA,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Eric Muller

	 
	 
	 

	Name:
	Eric Muller

	Title:
	Managing Director

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	HSBC BANK USA, NATIONAL ASSOCIATION,

	as Commercial Bank Lender, Senior Issuing Bank and Working Capital Lender 

	 
	 
	 

	By:
	/s/ James Kaiser

	 
	 
	 

	Name:
	James Kaiser

	Title:
	Managing Director

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BANK

	as Commercial Bank Lender and Working Capital Lender 

	 
	 
	 

	By:
	/s/ Peitao Chen

	 
	 
	 

	Name:
	Peitao Chen

	Title:
	Deputy General Manager

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	ING CAPITAL LLC,

	as Commercial Bank Lender, Senior Issuing Bank and Working Capital Facility Lender

	 
	 
	 

	By:
	/s/ Anthony Rivera

	 
	 
	 

	Name:
	Anthony Rivera

	Title:
	Director

	
			
	By:
	/s/ Tanja van der Woude

	 
	 
	 

	Name:
	Tanja van der Woude

	Title:
	Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	INTESA SANPAOLA S.P.A., NEW YORK BRANCH,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Nicholas A. Matacchieri

	 
	 
	 

	Name:
	Nicholas A. Matacchieri

	Title:
	Vice President

	
			
	By:
	/s/ Francesco DiMario

	 
	 
	 

	Name:
	Francesco DiMario

	Title:
	First Vice President

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	JP MORGAN CHASE BANK, N.A.,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Dave Katz

	 
	 
	 

	Name:
	Dave Katz

	Title:
	Executive Director

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	LANDESBANK BADEN-WÜRTTEMBERG, NEW YORK BRANCH,

	as Commercial Bank Lender and Working Capital Lender

	 
	 
	 

	By:
	/s/ Arndt Bruns

	 
	 
	 

	Name:
	Arndt Bruns

	Title:
	VP

	
			
	By:
	/s/ Adam Rahal

	 
	 
	 

	Name:
	Adam Rahal

	Title:
	Legal Counsel

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	LLOYDS BANK PLC,

	as Commercial Bank Lender and Working Capital Lender

	 
	 
	 

	By:
	/s/ Erin Dohertz

	 
	 
	 

	Name:
	Erin Dohertz

	Title:
	Assistant Vice President

	
			
	By:
	/s/ Daven Popat

	 
	 
	 

	Name:
	Daven Popat

	Title:
	Senior Vice President

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	MIZUHO BANK, LTD.,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Brian Caldwell

	 
	 
	 

	Name:
	Brian Caldwell

	Title:
	Senior Vice President

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	MORGAN STANLEY BANK, N.A., 

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Dmitriy Barskiy

	 
	 
	 

	Name:
	Dmitriy Barskiy

	Title:
	Authorized Signatory

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	MORGAN STANLEY SENIOR FUNDING, INC.,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Dmitriy Barskiy

	 
	 
	 

	Name:
	Dmitriy Barskiy

	Title:
	Vice President

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	ROYAL BANK OF CANADA,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Jason S. York

	 
	 
	 

	Name:
	Jason S. York

	Title:
	Authorized Signatory

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	SANTANDER BANK, N.A.,

	as Commercial Bank Lender

	 
	 
	 

	By:
	/s/ Fernando Benjumea

	 
	 
	 

	Name:
	Fernando Benjumea

	Title:
	VP

	
			
	By:
	/s/ Daniel S Kostman

	 
	 
	 

	Name:
	Daniel S Kostman

	Title:
	VP

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	SOCIÉTÉ GÉNÉRALE

	as Commercial Bank Lender, Swing Line Lender and Working Capital Lender

	 
	 
	 

	By:
	/s/ Edward J. Grimm

	 
	 
	 

	Name:
	Edward J. Grimm

	Title:
	Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	SUMITOMO MITSUI BANKING CORPORATION,

	as Commercial Bank Lender and Working Capital Lender

	 
	 
	 

	By:
	/s/ Isaac Deutsch

	 
	 
	 

	Name:
	Isaac Deutsch

	Title:
	Managing Director

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
		
	COMMONWEALTH BANK OF AUSTRALIA,

	as Working Capital Lender

	 
	 

	By its attorney under Power of Attorney dated 24 June 2013:

	 
	 

	Signature of Attorney:
	/s/ Drew Lanyon

	Name of Attorney:
	Drew Lanyon

	 
	 

	Signed by its duly constituted attorney in the presence of:

	Signature of Witness:
	/s/ Michelle Liebau

	Name of Witness:
	Michelle Liebau

SIGNATURE PAGE TO OMNIBUS AGREEMENT

Acknowledged and agreed as of the first date set forth above.
	
			
	WELLS FARGO BANK, N.A.,

	as Working Capital Lender

	 
	 
	 

	By:
	/s/ Nathan Starr

	 
	 
	 

	Name:
	Nathan Starr

	Title:
	Portfolio Manager

	 
	 
	 

	 
	 
	 

SIGNATURE PAGE TO OMNIBUS AGREEMENTExhibit 4.1

 

FIRST HORIZON
NATIONAL CORPORATION

 

Officers’ Certificate

 

October 30, 2015

 

Reference is made to
the Indenture, dated as of December 20, 2010 (the “Indenture”), between First Horizon National Corporation,
a Tennessee corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee. Capitalized
terms used herein and not defined shall have the meanings ascribed to them in the Indenture.

 

William C. Losch III,
Executive Vice President and Chief Financial Officer and Dane P. Smith, Treasurer of the Company, as Authorized Officers pursuant
to the resolutions adopted by the Board of Directors of the Company on January 23, 2013 attached hereto as Annex A, the
resolutions adopted by the Board of Directors of the Company on October 21, 2014 attached hereto as Annex B, the
resolutions adopted by the Board of Directors of the Company on October 19, 2015 attached hereto as Annex C-1 and Annex
C-2 and the resolutions duly adopted by the Pricing Committee dated October 26, 2015 attached hereto as Annex D (such
Board of Directors and Pricing Committee resolutions and instruments being referred to herein collectively as the “Resolutions”),
hereby establish a series of securities under the Indenture with the following terms:

 

		1.	The securities of the series shall be known and designated as the Company’s “3.500%
Senior Notes due 2020” (the “Notes”).

 

		2.	The aggregate principal amount of Notes which may be initially authenticated and delivered under
the Indenture is $500,000,000 (except for Notes authenticated and delivered upon registration of transfer of, or exchange for,
or in lieu of, other Notes of or within the series pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture); provided that
the Company may from time to time, without notice to or the consent of the Holders of the Notes, create and issue further Securities
of this series (the “Additional Securities”) having the same terms and ranking equally and ratably with the
Notes in all respects and with the same CUSIP number as the Notes, or in all respects except for the payment of interest accruing
prior to the issue date of such Additional Securities and/or except for the first payment of interest following the issue date
of such Additional Securities. Any Additional Securities will be consolidated and form a single series with the Notes and shall
have the same terms as to status, redemption and otherwise as the Notes.

 

		3.	Interest will be payable to the Person in whose name a Note (or any Predecessor Securities) is
registered at the close of business on the Regular Record Date.

 

		4.	The Stated Maturity of the principal amount of the Notes shall be December 15, 2020.

 

		5.	The Notes will bear interest at the rate of 3.500% per annum; interest on the Notes will accrue
from October 30, 2015; the Interest Payment Dates on which such interest shall be payable are June 15 and December 15 of each year,
commencing

    	 

    	

    

on June 15, 2016; and the Regular
Record Date for the interest payable on any Interest Payment Date is the close of business on the June 1 or December 1 immediately
preceding the relevant Interest Payment Date. Interest payable at Stated Maturity will be paid to the Person to whom principal
is payable on such date.

 

		6.	Subject to Section 11 below, the principal of and interest on the Notes will be payable at the
office or agency of the Company maintained for that purpose pursuant to the Indenture, which shall be initially the corporate trust
office of the Trustee; provided, however, that at the option of the Company, such payment of interest may be made by check mailed
to the person entitled thereto as provided in the Indenture.

 

		7.	The Notes are subject to redemption, at the option of the Company, in whole or, in the case of
Notes with a principal amount in excess of $250,000, in part, as provided in the form of Global Note attached as Annex E.

 

		8.	The Company shall not be obligated to redeem or purchase any Note pursuant to any sinking fund
or analogous provision, or at the option of any Holder thereof.

 

		9.	The Notes shall be issued in denominations of $2,000 and integral multiples of $1,000 in excess
thereof.

 

		10.	The Notes shall be subject to defeasance and covenant defeasance pursuant to Sections 1302 and
1303 of the Indenture, and those Sections shall be applicable in their entirety to the Notes.

 

		11.	The Notes will be issued in the form of one or more fully registered Global Notes, in substantially
the form of Annex E hereto, which will be deposited with, or on behalf of, The Depository Trust Company (“DTC”),
as depositary, and registered in the name of Cede & Co., DTC’s nominee.

 

		12.	The Notes will have the other terms and conditions set forth in the form of Global Notes.

 

[Remainder of page intentionally blank]

    	 

    	

    

IN WITNESS WHEREOF, I
have hereunto signed my name, as of the date first above written.

 

	 	FIRST HORIZON NATIONAL CORPORATION
	 	 
	 	By:	/s/ William C. Losch III
	 	 	Name:	William C. Losch III
	 	 	Title:	Executive Vice President and Chief Financial Officer
	 	 
	 	By:	/s/ Dane P. Smith
	 	 	Name:	Dane P. Smith
	 	 	Title:	Senior Vice President and Corporate Treasurer

 

[Signature Page to Officers’ Certificate under Section 301 of the Indenture]

    	 

    	

    

[Specimen]

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY
MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE.

 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN.

 

THIS SECURITY IS NOT A DEPOSIT AND IS NOT INSURED
BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.

 

ANY PURCHASER OR HOLDER OF THE NOTES OR ANY INTEREST
THEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING OF THE NOTES OFFERED HEREBY THAT IT EITHER (1) IS NOT A
PLAN (AS DEFINED BELOW) AND IS NOT PURCHASING THE NOTES ON BEHALF OF OR WITH THE ASSETS OF ANY PLAN OR (2) THE PURCHASE AND HOLDING
OF THE NOTES WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA (AS DEFINED BELOW) OR SECTION 4975
OF THE CODE (AS DEFINED BELOW) OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS (AS DEFINED BELOW). A “PLAN”
IS ANY PENSION, PROFIT-SHARING OR OTHER EMPLOYEE BENEFIT PLAN SUBJECT TO THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
AS AMENDED (“ERISA”), ANY PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT SUBJECT TO SECTION 4975 OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR PROVISIONS UNDER ANY FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS
OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF THE CODE OR ERISA (COLLECTIVELY, “SIMILAR LAWS”), OR ANY ENTITY
WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT.

 

FIRST HORIZON NATIONAL CORPORATION

3.500% SENIOR NOTES DUE 2020

 

No. 

 

	CUSIP No. 	$

 

First Horizon National Corporation,
a corporation duly organized and existing under the laws of Tennessee (herein called the “Company”, which term includes
any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO.,
as nominee of The Depository Trust Company, or registered assigns, the principal sum of                (U.S. $          )
on December 15, 2020 (such date is hereinafter referred to as the “Stated

    	 

    	

    

Maturity”), and to pay interest thereon
from October 30, 2015, or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly
provided for, semi-annually in arrears on June 15 and December 15 in each year (each, an “Interest Payment Date”),
commencing June 15, 2016, at the rate of 3.500% per annum (the “Interest Rate”), until the principal hereof is paid
or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date for such interest, which shall be the June 1 or December 1 (whether
or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest so payable, but not so
punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal
of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company maintained
for that purpose, which shall be initially the corporate trust office of the Trustee, in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts, against surrender of this Security
in the case of any payment due at the Stated Maturity of the principal hereof; provided, however, that at the option
of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register; and provided, further, that if this Security is a Global Security, payment may be
made pursuant to the Applicable Procedures of the Depositary as permitted in the Indenture.

 

Reference is hereby made
to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have
the same effect as if set forth at this place.

 

Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall
not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

    	-2-

    	

    

IN WITNESS WHEREOF, the
Company has caused this security to be duly executed.

 

Dated: October 30, 2015

 

	 	FIRST HORIZON NATIONAL CORPORATION
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

	Attest:	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

CERTIFICATE OF AUTHENTICATION

 

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

 

	 	THE BANK OF NEW YORK MELLON TRUST
	 	COMPANY, N.A, as Trustee
	 	 	 	 
	Date: October 30, 2015	By:   	 	 
	 	 	Authorized Officer	 

    	-3-

    	

    

This Security is one of
a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one
or more series under an Indenture, dated as of December 20, 2010 (herein called the “Indenture”, which term shall have
the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee
(herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the
Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. This Security is one of the series designated on the face hereof initially limited in aggregate principal amount
to $500,000,000, provided that the Company may, without the consent of any Holder, at any time and from time to time increase
the initial principal amount as provided in the Indenture.

 

The Securities of this series
are subject to redemption upon not less than 30 nor more than 60 days’ notice by mail at any time on or after November 15,
2020, as a whole or, in case of Securities with a principal amount in excess of $250,000, in part, at the election of the Company,
at a redemption price equal to 100% of the principal amount, together with accrued and unpaid interest to but excluding the Redemption
Date, but interest installments that are due on or prior to such Redemption Date will be payable to the Holders of such Securities,
or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face
hereof, all as provided in the Indenture.

 

In the event of redemption
of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof
will be issued in the name of the Holder hereof upon the cancellation hereof.

 

The Indenture contains provisions
for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with
respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.

 

If an Event of Default with
respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared
due and payable in the manner and with the effect provided in the Indenture.

 

The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company
and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each
series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance
by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any
such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders
of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

As provided in and subject
to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect
to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have
previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the
Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have

    	-4-

    	

    

made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to the Trustee,
and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the
time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days
after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder
of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective
due dates expressed herein.

 

No reference herein to the
Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute
and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the
coin or currency, herein prescribed.

 

As provided in the Indenture
and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon
surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized
in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee or transferees.

 

The Securities of this series
are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in excess thereof.
As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for
a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested
by the Holder surrendering the same.

 

No service charge shall
be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

 

Prior to due presentment
of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

Interest on the principal
balance of this Security shall be calculated on the basis of a 360 day year consisting of twelve 30-day months.

 

THIS SECURITY AND THE
INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

All terms used in this Security
which are defined in the Indenture and are not otherwise defined herein shall have the meanings assigned to them in the Indenture.

    	-5-

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