Document:

Exhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This Securities Purchase Agreement
(this “Agreement”) is dated as of April 23, 2021, between Ocugen, Inc., a Delaware corporation (the “Company”),
and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser”
and collectively the “Purchasers”).

 

WHEREAS, subject to the terms
and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act (as defined below),
the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company,
securities of the Company as more fully described in this Agreement.

 

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are
hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1             
Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following
terms have the meanings set forth in this Section 1.1:

 

“Acquiring Person”
shall have the meaning ascribed to such term in Section 4.5.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

 

“At Market
Issuance Sales Agreement” means that certain At Market Issuance Sales Agreement dated August 14, 2020 by and between the Company
and Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc., as in effect on the date hereof.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized
or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” 
or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority
so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally
are open for use by customers on such day.

 

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“Closing”
means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing
Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties
thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii) the Company’s
obligations to deliver the Shares, in each case, have been satisfied or waived, but in no event later than the second (2nd)
Trading Day following the date hereof.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the common stock of the Company, par value $0.01 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Company
Counsel” means Troutman Pepper Hamilton Sanders LLP, with offices located at 3000 Two Logan Square, Eighteenth and Arch
Streets, Philadelphia, PA 19103.

 

“Disclosure
Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time) and
before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following the date
hereof, unless otherwise instructed as to an earlier time by the Placement Agent, and (ii) if this Agreement is signed between midnight
(New York City time) and 9:00 a.m. (New York City time) on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof,
unless otherwise instructed as to an earlier time by the Placement Agent.

 

“Evaluation
Date” shall have the meaning ascribed to such term in Section 3.1(r).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempt
Issuance” means the issuance of (a) securities to directors, officers, employees and consultants of the Company pursuant
to employee benefit plans, equity incentive plans or other employee compensation plans existing on the date hereof and as described
in the Prospectus, (b) any shares of Common Stock upon exercise of the warrants to the Placement Agent, if applicable, and/or shares
of Common Stock upon the exercise or exchange of or conversion of securities exercisable or exchangeable for or convertible into
shares of Common Stock issued and outstanding on the date of this Agreement, provided that such securities have not been amended
since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or
conversion price of such securities (other than in connection with stock splits or combinations) or to extend the term of such
securities, and (c) securities issued in connection with any joint venture, commercial or collaborative relationship, or the
acquisition or license by the Company of the securities, business, property or other assets of another person, provided that such
issuance is approved by the majority of the disinterested directors of the Company, and provided that such securities are issued as
“restricted securities” (as defined in Rule 144) and carry no registration rights that require or permit the filing of
any registration statement in connection therewith during the prohibition period in Section 4.12(a) herein, and (d) issuances
to one or more lenders in connection with the Company’s entry into a non-convertible debt financing transaction, provided that
such issuance set forth in clause (d) shall only be in the form of warrants to purchase shares of Common Stock and the shares of
Common Stock underlying such warrants shall be “restricted securities” (as defined in Rule 144) and carry no
registration rights that require or permit the filing of any registration statement in connection therewith during the prohibition
period in Section 4.12(a) herein.

 

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“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“FDA”
shall have the meaning ascribed to such term in Section 3.1(gg).

 

“GAAP”
shall have the meaning ascribed to such term in Section 3.1(h).

 

“Indebtedness”
shall have the meaning ascribed to such term in Section 3.1(z).

 

“Intellectual
Property” shall have the meaning ascribed to such term in Section 3.1(o).

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“Per Share
Purchase Price” equals $10.00, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations
and other similar transactions of the Common Stock that occur after the date of this Agreement and prior to the Closing Date.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,
joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Placement
Agent” means H.C. Wainwright & Co., LLC.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding,
such as a deposition), whether commenced or threatened in writing.

 

“Prospectus”
means the final base prospectus filed for the Registration Statement, including all information, documents and exhibits filed with or
incorporated by reference into such base prospectus.

 

“Prospectus
Supplement” means the supplement to the Prospectus complying with Rule 424(b) of the Securities Act that is filed with the Commission
and delivered by the Company to each Purchaser at the Closing, including all information, documents and exhibits filed with or incorporated
by reference into such supplement to the Prospectus.

 

“Purchaser
Party” shall have the meaning ascribed to such term in Section 4.8.

 

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“Registration
Statement” means the effective registration statement with Commission (File No. 333-254550), including all information, documents
and exhibits filed with or incorporated by reference into such registration statement, which registers the sale of the Shares to the Purchasers.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

 

“SEC Reports”
shall have the meaning ascribed to such term in Section 3.1(h).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Shares”
means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be
deemed to include locating and/or borrowing shares of Common Stock). 

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for Shares purchased hereunder as specified below such
Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,” in United States
dollars and in immediately available funds.

 

“Subsidiary”
means any subsidiary of the Company set forth on Exhibit 21.1 of the Company’s most recently filed Annual Report on Form 10-K.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock
Exchange (or any successors to any of the foregoing).

 

“Transaction
Documents” means this Agreement, all exhibits and schedules thereto and hereto and any other documents or agreements executed
in connection with the transactions contemplated hereunder.

 

“Transfer
Agent” means Broadridge Corporate Issuer Solutions, Inc., the current transfer agent of the Company and any successor transfer
agent of the Company.

 

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ARTICLE II.

PURCHASE AND SALE

 

2.1             
Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell,
and the Purchasers, severally and not jointly, agree to purchase, up to an aggregate of $100 million of Shares. Each Purchaser’s
Subscription Amount as set forth on the signature page hereto executed by such Purchaser shall be made available for “Delivery Versus
Payment” (“DVP”) settlement with the Company or its designees. The Company shall deliver to each Purchaser its
respective Shares and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing.
Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices of the Placement
Agent or such other location as the parties shall mutually agree. Unless otherwise directed by the Placement Agent, settlement of the
Shares shall occur via DVP (i.e., on the Closing Date, the Company shall issue the Shares registered in the Purchasers’ names and
addresses and released by the Transfer Agent directly to the account(s) at the Placement Agent identified by each Purchaser; upon receipt
of such Shares, the Placement Agent shall promptly electronically deliver such Shares to the applicable Purchaser, and payment therefor
shall be made by the Placement Agent (or its clearing firm) by wire transfer to the Company).

 

2.2             
Deliveries.

 

(a)              
On or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i)                
this Agreement duly executed by the Company;

 

(ii)             
a legal opinion of Company Counsel, directed to the Placement Agent and the Purchasers, in a form reasonably acceptable to the
Placement Agent and Purchasers;

 

(iii)           
the Company’s wire instructions, on Company letterhead and executed by the Chief Executive Officer or Chief Financial Officer;

 

(iv)             subject
to the last sentence of Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to
deliver on an expedited basis via The Depository Trust Company Deposit or Withdrawal at Custodian system (“DWAC”)
Shares equal to such Purchaser’s Subscription Amount divided by the Per Share Purchase Price, registered in the name of such
Purchaser; and

 

(v)              
the Prospectus and Prospectus Supplement (which may be delivered in accordance with Rule 172 under the Securities Act).

 

(b)              
On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

 

(i)                
this Agreement duly executed by such Purchaser; and

 

(ii)             
such Purchaser’s Subscription Amount, which shall be made available for DVP settlement with the Company or its designees.

 

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2.3             
Closing Conditions.

 

(a)           The
obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i)                
the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material
Adverse Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Purchasers contained herein
(unless as of a specific date therein in which case they shall be accurate as of such date);

 

(ii)              
all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have
been performed; and

 

(iii)             
the delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b)         
The respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being
met:

 

(i)               
the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material
Adverse Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein
(unless as of a specific date therein in which case they shall be accurate as of such date);

 

(ii)             
all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been
performed;

 

(iii)           
the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(iv)            
 there shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(v)              
from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company’s
principal Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall
not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by such
service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities
nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity of such magnitude
in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of such Purchaser,
makes it impracticable or inadvisable to purchase the Shares at the Closing.

 

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ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1             
Representations and Warranties of the Company. The Company hereby makes the following representations and warranties to
each Purchaser:

 

(a)              
Subsidiaries. The Subsidiaries are the Company’s only significant subsidiaries (as such term is defined in Rule 1.02
of Regulation S-X promulgated by the Commission). Except as set forth in the Prospectus or the Prospectus Supplement, the Company owns,
directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of
the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of
preemptive and similar rights to subscribe for or purchase securities. If the Company has no subsidiaries, all other references to the
Subsidiaries or any of them in the Transaction Documents shall be disregarded.

 

(b)               Organization
and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and
authority to own and use its properties and assets and to carry on its business as currently conducted as described in the SEC
Reports. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate
or articles of incorporation, bylaws or other organizational or charter documents. Each of the Company and the Subsidiaries is duly
qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the
nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so
qualified or in good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse
effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of
operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole,
or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its
obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no
Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such
power and authority or qualification.

 

(c)              
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this Agreement and each of the other Transaction Documents. The execution and delivery of this Agreement
and each of the other Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby
have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board
of Directors or the Company’s stockholders in connection herewith or therewith other than in connection with the Required Approvals.
This Agreement and each other Transaction Document to which it is a party has been (or upon delivery will have been) duly executed by
the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the
Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights
generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies
and (iii) insofar as indemnification and contribution provisions may be limited by applicable law and public policy considerations in
respect thereof.

 

(d)              
No Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents
to which it is a party, the issuance and sale of the Shares and the consummation by it of the transactions contemplated hereby and thereby
do not and will not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or articles
of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that
with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets
of the Company or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution or similar adjustments, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property
or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in
a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property
or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not
have or reasonably be expected to result in a Material Adverse Effect.

 

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(e)               Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the
filings required pursuant to Section 4.4 of this Agreement, (ii) the filing with the Commission of the Prospectus Supplement, (iii)
application(s) to each applicable Trading Market for the listing of the Shares for trading thereon in the time and manner required
thereby, and (iv) such filings as are required to be made under applicable state securities laws (collectively, the
“Required Approvals”).

 

(f)               
Issuance of the Shares; Registration. The Shares are duly authorized and, when issued and paid for in accordance with the
applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by
the Company. The Company has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable pursuant
to this Agreement. The Company has prepared and filed the Registration Statement in conformity with the requirements of the Securities
Act, which became effective on March 22, 2021, including the Prospectus, and such amendments and supplements thereto as may
have been required to the date of this Agreement. The Company was at the time of the filing of the Registration Statement eligible to
use Form S-3. As of the filing date of the Registration Statement and as of the date hereof, the Company is a “well-known seasoned
issuer” as defined in Rule 405 of the Securities Act. The Registration Statement is effective under the Securities Act and no stop
order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the Prospectus has
been issued by the Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened
by the Commission. The Company, if required by the rules and regulations of the Commission, shall file the Prospectus Supplement with
the Commission pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the date
of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material
respects to the requirements of the Securities Act and did not and will not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the Prospectus and
any amendments or supplements thereto, at the time the Prospectus or any amendment or supplement thereto was issued and at the Closing
Date, conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain an
untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading.

 

(g)               Capitalization.
The issued and outstanding shares of capital stock of the Company have been validly issued, are fully paid and nonassessable and,
other than as disclosed in the SEC Reports, are not subject to any preemptive rights, rights of first refusal or similar rights. The
Company has an authorized, issued and outstanding capitalization as set forth in the SEC Reports as of the dates referred to therein
(other than the grant of additional options under the Company’s existing equity incentive or stock option plans, or changes in
the number of outstanding shares of Common Stock of the Company due to (i) the issuance of shares upon the exercise or conversion of
securities exercisable for, or convertible into, Common Stock outstanding on the date hereof and (ii) the issuance of shares of
Common Stock pursuant to the At Market Issuance Sales Agreement) and such authorized capital stock conforms in all material respects
to the description thereof set forth in the SEC Reports. The description of the securities of the Company in the SEC Reports is
complete and accurate in all material respects. Except as disclosed in or contemplated by the SEC Reports, (i) no Person has the
right, contractual or otherwise, to cause the Company to issue or sell to such Person any Common Stock or shares of any other
capital stock or other securities of the Company (other than outstanding options or warrants to purchase Common Stock or options or
other equity securities that may be granted from time to time under the Company’s equity incentive plans which are disclosed
in the SEC Reports) and (ii) no Person has any preemptive rights, resale rights, rights of first refusal, rights of co-sale, or any
other rights (whether pursuant to a “poison pill” provision or otherwise) to purchase any Common Stock or shares of any
other capital stock or other securities of the Company. The issuance and sale of the Shares will not obligate the Company or any
Subsidiary to issue shares of Common Stock or other securities to any Person (other than the Purchasers). There are no outstanding
securities or instruments of the Company or any Subsidiary with any provision that adjusts the exercise, conversion, exchange or
reset price of such security or instrument upon an issuance of securities by the Company or any Subsidiary. There are no
stockholders agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to which
the Company is a party or, to the knowledge of the Company, between or among any of the Company’s stockholders.

 

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(h)              
SEC Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof (the foregoing
materials, including the exhibits thereto and documents incorporated by reference therein, together with the Prospectus and the Prospectus
Supplement, being collectively referred to herein as the “SEC Reports”) on a timely basis or has received a valid extension
of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates,
the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and
none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to
be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act. The financial statements of the
Company included in the SEC Reports comply in all material respects with the requirements of the Securities Act and the Exchange Act as
in effect at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified
in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required
by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and
for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements,
to normal, immaterial, year-end audit adjustments.

 

(i)                
 Material Changes; Undisclosed Events, Liabilities or Developments. Subsequent to the respective dates as of which information
is given in the SEC Reports, (i) there has been no event, occurrence or development that has had or that could reasonably be expected
to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) which is material
to the Company and the Subsidiaries taken as a whole, (iii) the Company has not altered its method of accounting, (iv) the Company has
not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements
to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director
or Affiliate, except pursuant to existing Company stock option plans. The Company does not have pending before the Commission any request
for confidential treatment of information. Except for the issuance of the Shares contemplated by this Agreement or as set forth in the
SEC Reports, no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur
or exist with respect to the Company or its Subsidiaries or their respective businesses, prospects, properties, operations, assets or
financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation
is made or deemed made that has not been publicly disclosed at least one (1) Trading Day prior to the date that this representation is
made.

 

(j)                
Litigation. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge
of the Company, threatened against the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which would, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. Neither the
Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation
of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge
of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former
director or officer of the Company.

 

(k)              
Labor Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees
of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither the
Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that
their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary,
is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary
information agreement or non-competition agreement, or any restrictive covenant in favor of any third party.

 

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(l)                 Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been
waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the
Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan
or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound
(whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court,
arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any
governmental authority, including without limitation all applicable foreign, federal, state and local laws relating to taxes,
environmental protection, occupational health and safety, product quality and safety and employment and labor matters, except in
each case as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(m)            
Reserved.

 

(n)              
Title to Assets. The Company and the Subsidiaries do not own any real property. The Company and Subsidiaries have good and
marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries (other than
intellectual property, which is addressed in Section 3.1(o)), in each case free and clear of all Liens, except for (i) Liens as do not
materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property
by the Company and the Subsidiaries, and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have
been made therefor in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any real property
and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with
which the Company and the Subsidiaries are in compliance, except where the failure to be in compliance would not reasonably be expected
to have a Material Adverse Effect.

 

(o)               Intellectual
Property. The Company and its Subsidiaries own, possess, license or have other rights to use, or can acquire on reasonable terms
a license or other rights to use, all foreign and domestic patents, patent applications, trade and service marks, trade and service
mark registrations, trade names, copyrights, licenses, inventions, trade secrets, technology, Internet domain names, know-how
and other intellectual property (collectively, the “Intellectual Property”), necessary for the conduct of their
respective businesses as currently conducted as described in the SEC Reports except to the extent that the failure to own, possess,
license or otherwise hold adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a
Material Adverse Effect. Except as disclosed in the SEC Reports (i) to the Company’s knowledge, there are no rights of
third parties to any such Intellectual Property owned by the Company and its Subsidiaries; (ii) to the Company’s
knowledge, there is no infringement by third parties of any such Intellectual Property; (iii) there is no pending or, to the
Company’s knowledge, threatened action, suit, proceeding or claim by others challenging the Company’s and its
Subsidiaries’ rights in or to any such Intellectual Property, and the Company is unaware of any facts which could form a
reasonable basis for any such action, suit, proceeding or claim; (iv) there is no pending or, to the Company’s knowledge,
threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property;
(v) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others that the
Company and its Subsidiaries infringe or otherwise violate any patent, trademark, copyright, trade secret or other proprietary
rights of others; (vi) to the Company’s knowledge, there is no third-party U.S. patent or published U.S. patent
application which contains claims for which an Interference Proceeding (as defined in 35 U.S.C. § 135) has been commenced
against any patent or patent application described in the SEC Reports as being owned by or licensed to the Company; and
(vii) the Company and its Subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property
has been licensed to the Company or such Subsidiary, and all such agreements are in full force and effect, except, in the case of
any of clauses (i)-(vii) above, for any such infringement by third parties or any such pending or threatened suit, action,
proceeding or claim as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect.

 

(p)              
Insurance. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such
losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged,
including, but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription Amount. Neither
the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant
increase in cost.

 

    10 

     

    

 

(q)              
Transactions With Affiliates and Employees. Except as set forth in the SEC Reports, none of the officers or directors of
the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently
a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal
property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial
interest or is an officer, director, trustee, stockholder, member or partner, in each case in excess of $120,000 other than for (i) payment
of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other
employee benefits, including equity incentive agreements under any equity incentive plan of the Company.

 

(r)                Sarbanes-Oxley;
Internal Accounting Controls. The Company and the Subsidiaries are in compliance in all material respects with any and all
applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules
and regulations promulgated by the Commission thereunder that are effective as of the date hereof and as of the Closing Date. The
Company and the Subsidiaries maintain a system of internal accounting controls designed to provide reasonable assurance that: (i)
transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii)
access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect
to any differences. The Company and the Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to provide
reasonable assurance that information required to be disclosed by the Company in the reports it files or submits under the Exchange
Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms.
The Company’s certifying officers have evaluated the effectiveness of the disclosure controls and procedures of the Company
and the Subsidiaries as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such
date, the “Evaluation Date”). The Company presented in its most recently filed periodic report under the Exchange
Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their
evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no changes in the internal control over financial
reporting (as such term is defined in the Exchange Act) of the Company and its Subsidiaries that have materially affected, or is
reasonably likely to materially affect, the internal control over financial reporting of the Company and its Subsidiaries.

 

(s)               
Certain Fees. Except as set forth in the Prospectus Supplement, no brokerage or finder’s fees or commissions are or
will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker,
bank or other Person with respect to the transactions contemplated by the Transaction Documents. The Purchasers shall have no obligation
with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section
that may be due in connection with the transactions contemplated by the Transaction Documents.

 

(t)                
Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Shares,
will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.
The Company shall conduct its business in a manner so that it will not become an “investment company” subject to registration
under the Investment Company Act of 1940, as amended.

 

    11 

     

    

 

(u)              
Registration Rights. Except as set forth in the SEC Reports, no Person has any right to cause the Company or any Subsidiary
to effect the registration under the Securities Act of any securities of the Company or any Subsidiary.

 

(v)               Listing
and Maintenance Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the
Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of
the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating
terminating such registration. Except as disclosed in the SEC Reports, the Company has not, in the 12 months preceding the date
hereof, received notice from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the
Company is not in compliance with the listing or maintenance requirements of such Trading Market. The Common Stock is currently
eligible for electronic transfer through the Depository Trust Company or another established clearing corporation and the Company is
current in payment of the fees to the Depository Trust Company (or such other established clearing corporation) in connection with
such electronic transfer.

 

(w)            
Application of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in
order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights
agreement) or other similar anti-takeover provision under the Company’s certificate of incorporation (or similar charter documents)
or the laws of its state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company
fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation as a result of the
Company’s issuance of the Shares and the Purchasers’ ownership of the Shares.

 

(x)              
Disclosure. Except with respect to the material terms and conditions of the transactions contemplated by the Transaction
Documents, the Company confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their
agents or counsel with any information that it believes constitutes or might constitute material, non-public information which is not
otherwise disclosed in the Prospectus Supplement. The Company understands and confirms that the Purchasers will rely on the foregoing
representation in effecting transactions in securities of the Company. All of the disclosure furnished by or on behalf of the Company
to the Purchasers regarding the Company and its Subsidiaries, their respective businesses and the transactions contemplated hereby, is
true and correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to
make the statements made therein, in the light of the circumstances under which they were made, not misleading. The press releases disseminated
by the Company during the twelve months preceding the date of this Agreement taken as a whole do not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in
the light of the circumstances under which they were made and when made, not misleading. The Company acknowledges and agrees that no Purchaser
makes or has made any representations or warranties with respect to the transactions contemplated hereby other than those specifically
set forth in Section 3.2 hereof.

 

(y)              
No Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section
3.2, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any
offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering of the
Shares to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading
Market on which any of the securities of the Company are listed or designated.

 

    12 

     

    

 

 

(z)              
Solvency. Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the
receipt by the Company of the proceeds from the sale of the Shares hereunder, (i) the fair saleable value of the Company’s assets
exceeds the amount that will be required to be paid on or in respect of the Company’s existing debts and other liabilities (including
known contingent liabilities) as they mature, (ii) the Company’s assets do not constitute unreasonably small capital to carry on
its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular capital
requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability thereof,
and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate all of its
assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities
when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature
(taking into account the timing and amounts of cash to be payable on or in respect of its debt). The Company has no knowledge of any
facts or circumstances which lead it to believe that it will file for reorganization or liquidation under the bankruptcy or reorganization
laws of any jurisdiction within one year from the Closing Date. The SEC Reports set forth as of the date hereof all outstanding secured
and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments. For the purposes
of this Agreement, “Indebtedness” means (x) any liabilities for borrowed money or amounts owed in excess of $50,000
(other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties, endorsements and other contingent
obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the Company’s consolidated
balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar
transactions in the ordinary course of business; and (z) the present value of any lease payments in excess of $50,000 due under leases
required to be capitalized in accordance with GAAP. Neither the Company nor any Subsidiary is in default with respect to any Indebtedness.

 

(aa)           
Tax Status. The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns which
have been required to be filed and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become due
and are not being contested in good faith, except where the failure to so file or pay would not reasonably be expected to have a Material
Adverse Effect. Except as otherwise disclosed in or contemplated by the SEC Reports, no tax deficiency has been determined adversely to
the Company or any of its Subsidiaries which has had, or would reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect. The Company has no knowledge of any federal, state or other governmental tax deficiency, penalty or assessment which has
been or might be asserted or threatened against it which would have a Material Adverse Effect.

 

(bb)           Foreign
Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or
other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or
campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by
any person acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material
respect any provision of FCPA.

 

    13

     

    

 

(cc)           
Accountants. The Company’s independent registered public accounting firm is Ernst & Young LLP. To the knowledge
of the Company, such accounting firm (i) is a registered public accounting firm as required by the Exchange Act and (ii) shall express
its opinion with respect to the financial statements to be included in the Company’s Annual Report for the fiscal year ending December
31, 2021.

 

(dd)          
Acknowledgment Regarding Purchasers’ Purchase of Shares. The Company acknowledges and agrees that each of the Purchasers
is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or
any of their respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby
is merely incidental to the Purchasers’ purchase of the Shares. The Company further represents to each Purchaser that the Company’s
decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions
contemplated hereby by the Company and its representatives.

 

(ee)           
Acknowledgment Regarding Purchaser’s Trading Activity. Anything
in this Agreement or elsewhere herein to the contrary notwithstanding (except for Sections 3.2(f) and 4.14 hereof), it is understood
and acknowledged by the Company that: (i) none of the Purchasers has been asked by the Company to agree, nor has any Purchaser agreed,
to desist from purchasing or selling, long and/or short, securities of the Company, or “derivative” securities based on securities
issued by the Company or to hold the Shares for any specified term; (ii)
past or future open market or other transactions by any Purchaser, specifically including, without limitation, Short Sales or “derivative”
transactions, before or after the closing of this or future private placement transactions, may negatively impact the market price of
the Company’s publicly-traded securities; (iii) any Purchaser, and counter-parties in “derivative” transactions
to which any such Purchaser is a party, directly or indirectly, presently may have a “short” position in the Common Stock,
and (iv) each Purchaser shall not be deemed to have any affiliation with or control over any arm’s length counter-party in any “derivative”
transaction. The Company further understands and acknowledges that (y) one or more Purchasers may engage in hedging activities
at various times during the period that the Shares are outstanding, and (z) such hedging activities (if any) could reduce the value of
the existing stockholders' equity interests in the Company at and after the time that the hedging activities are being conducted. 
The Company acknowledges that such aforementioned hedging activities do not constitute a breach of any of the Transaction Documents.

 

    14

     

    

 

(ff)             
 Regulation M Compliance.  The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly
or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company
to facilitate the sale or resale of any of the Shares, (ii) sold, bid for, purchased, or, paid any compensation for soliciting purchases
of, any of the Shares, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase the Shares, other
than, in the case of clauses (ii) and (iii), compensation paid to the Company’s placement agent in connection with the placement
of the Shares.

 

(gg)          
Regulatory Permits. Except as disclosed in the SEC Reports, the Company and its Subsidiaries have made all filings, applications
and submissions required by, possesses and is operating in compliance with, all approvals, licenses, certificates, certifications, clearances,
consents, grants, exemptions, marks, notifications, orders, permits and other authorizations issued by, the appropriate federal, state
or foreign governmental authority (including, without limitation, the United States Food and Drug Administration (the “FDA”),
the United States Drug Enforcement Administration or any other foreign, federal, state, provincial, court or local government or regulatory
authorities including self-regulatory organizations engaged in the regulation of clinical trials, pharmaceuticals, biologics or biohazardous
substances or materials) necessary for the ownership or lease of their respective properties or to conduct its businesses as currently
conducted as described in the SEC Reports (collectively, “Permits”), except for such Permits the failure of which to
possess, obtain or make the same would not reasonably be expected to have a Material Adverse Effect; the Company and its Subsidiaries
are in compliance with the terms and conditions of all such Permits, except where the failure to be in compliance would not reasonably
be expected to have a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where any invalidity,
individually or in the aggregate, would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any
of its Subsidiaries has received any written notice relating to the limitation, revocation, cancellation, suspension, modification or
non-renewal of any such Permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would
reasonably be expected to have a Material Adverse Effect, or has any reason to believe that any such license, certificate, permit or authorization
will not be renewed in the ordinary course. To the extent required by applicable laws and regulations of the FDA, the Company or the applicable
Subsidiary has submitted to the FDA an Investigational New Drug Application or amendment or supplement thereto for each clinical trial
it has conducted or sponsored or is conducting or sponsoring; all such submissions were in material compliance with applicable laws and
rules and regulations when submitted and no material deficiencies have been asserted by the FDA with respect to any such submissions.

 

(hh)           Regulatory
Filings. Except as disclosed in the SEC Reports, neither the Company nor any of its Subsidiaries has failed to file with the
applicable governmental authorities (including, without limitation, the FDA, or any foreign, federal, state, provincial or local
governmental authority performing functions similar to those performed by the FDA) any required filing, declaration, listing,
registration, report or submission, except for such failures that, individually or in the aggregate, would not reasonably be
expected to have a Material Adverse Effect; except as disclosed in the SEC Reports, all such filings, declarations, listings,
registrations, reports or submissions were in compliance with applicable laws when filed and no deficiencies have been asserted by
any applicable regulatory authority with respect to any such filings, declarations, listings, registrations, reports or submissions,
except for any deficiencies that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse
Effect. The Company has operated and currently is, in all material respects, in compliance with the United States Federal Food,
Drug, and Cosmetic Act, all applicable rules and regulations of the FDA and other federal, state, local and foreign governmental
authority exercising comparable authority. The Company has no knowledge of any studies, tests or trials not described in the SEC
Repots the results of which reasonably call into question in any material respect the results of the studies, tests and trials
described in the SEC Reports.

 

    15

     

    

 

(ii)             
Clinical Studies. The preclinical studies and tests and clinical trials described in the SEC Reports being conducted by
or on behalf of the Company were, and, if still pending, are being conducted in all material respects in accordance with the experimental
protocols, procedures and controls pursuant to, where applicable, accepted professional and scientific standards for products or product
candidates comparable to those being developed by the Company; the descriptions of such studies, tests and trials, and the results thereof,
contained in the SEC Reports are accurate and complete in all material respects; the Company is not aware of any tests, studies or trials
not described in the SEC Reports, the results of which reasonably call into question the results of the tests, studies and trials described
in the SEC Reports; and the Company has not received any written notice or correspondence from the FDA or any foreign, state or local
governmental authority exercising comparable authority or any institutional review board or comparable authority requiring the termination,
suspension, clinical hold or material modification of any tests, studies or trials that are described or referred to in the SEC Reports.

 

(jj)             
Stock Option Plans. Each stock option granted by the Company under the Company’s stock option or equity incentive
plans was granted (i) in accordance with the terms of the Company’s applicable stock option or equity incentive plan and (ii) with
an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted
under GAAP and applicable law. No stock option granted under the Company’s stock option or equity incentive plans has been backdated.
The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior
to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information
regarding the Company or its Subsidiaries or their financial results or prospects.

 

(kk)          
Office of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company's knowledge, any director,
officer, agent, employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the
Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(ll)             
U.S. Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within
the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

 

    16

     

    

 

(mm)        
 Bank Holding Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding
Company Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System
(the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly or
indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more
of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company
nor any of its Subsidiaries or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that
is subject to the BHCA and to regulation by the Federal Reserve.

 

(nn)          
Money Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance
with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as
amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money Laundering
Laws”), and no Action or Proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any Subsidiary,
threatened.

 

3.2          Representations and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents
and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which
case they shall be accurate as of such date):

 

(a)              
Organization; Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited
liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance
by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate,
partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which
it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will
constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i)
as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited
by applicable law.

 

(b)              
Understandings or Arrangements. Such Purchaser is acquiring the Shares as principal for its own account and has no direct
or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Shares (this representation
and warranty not limiting such Purchaser’s right to sell the Shares pursuant to the Registration Statement or otherwise in compliance
with applicable federal and state securities laws). Such Purchaser is acquiring the Shares hereunder in the ordinary course of its business.

 

    17

     

    

 

(c)              
Purchaser Status. At the time such Purchaser was offered the Shares, it was, and as of the date hereof it is, either: (i)
an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii)
a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act.

 

(d)              
Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Shares, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment
in the Shares and, at the present time, is able to afford a complete loss of such investment.

 

(e)              
Access to Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including
all exhibits and schedules thereto) and the SEC Reports and has been afforded, (i) the opportunity to ask such questions as it has deemed
necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares
and the merits and risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results
of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity
to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary
to make an informed investment decision with respect to the investment.  Such Purchaser acknowledges and agrees that neither the
Placement Agent nor any Affiliate of the Placement Agent has provided such Purchaser with any information or advice with respect to the
Shares nor is such information or advice necessary or desired.  Neither the Placement Agent nor any Affiliate has made or makes any
representation as to the Company or the quality of the Shares and the Placement Agent and any Affiliate may have acquired non-public information
with respect to the Company which such Purchaser agrees need not be provided to it.  In connection with the issuance of the Shares
to such Purchaser, neither the Placement Agent nor any of its Affiliates has acted as a financial advisor or fiduciary to such Purchaser.

 

(f)               
Certain Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser
has not, nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed
any purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that
such Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth
the material terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding the
foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate
portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the
portfolio managers managing other portions of such Purchaser’s assets, the representation set forth above shall only apply with
respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by
this Agreement. Other than to other Persons party to this Agreement or to such Purchaser’s representatives that are bound by confidentiality
obligations, including, without limitation, its officers, directors, partners, legal and other advisors, employees, agents and Affiliates,
such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence
and terms of this transaction). Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute
a representation or warranty, or preclude any actions, with respect to locating or borrowing shares in order to effect Short Sales or
similar transactions in the future.

 

    18

     

    

 

The Company acknowledges and
agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right to rely on
the Company’s representations and warranties contained in this Agreement or any representations and warranties contained in any
other Transaction Document or any other document or instrument executed and/or delivered in connection with this Agreement or the consummation
of the transactions contemplated hereby. Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute
a representation or warranty, or preclude any actions, with respect to locating or borrowing shares in order to effect Short Sales or
similar transactions in the future.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1              Reserved.

 

4.2             
Furnishing of Information. Until the time that no Purchaser owns Shares, the Company covenants to timely file (or obtain
extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date
hereof pursuant to the Exchange Act even if the Company is not then subject to the reporting requirements of the Exchange Act; provided,
however, that this covenant shall not prevent a sale, merger or similar transaction involving the Company.

 

4.3             
Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any
security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Shares for purposes of
the rules and regulations of any Trading Market such that it would require shareholder approval prior to the closing of such other transaction
unless shareholder approval is obtained before the closing of such subsequent transaction.

 

4.4            
Securities Laws Disclosure; Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the
material terms of the transactions contemplated hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents
as exhibits thereto, with the Commission within the time required by the Exchange Act. From and after the issuance of such press release,
the Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered to any
of the Purchasers by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees or agents in connection
with the transactions contemplated by the Transaction Documents. In addition, effective upon the issuance of such press release, the
Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral,
between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates on the one
hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate. The Company and each Purchaser shall consult
with each other in issuing any other press releases with respect to the transactions contemplated hereby, and neither the Company nor
any Purchaser shall issue any such press release nor otherwise make any such public statement (other than press releases or public statements
that are consistent with the disclosures included in the press release or Current Report on Form 8-K described in the first sentence
of this Section 4.4, or required filings with the Commission) without the prior consent of the Company, with respect to any press release
of any Purchaser, or without the prior consent of the Placement Agent, with respect to any press release of the Company, which consent
shall not unreasonably be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party shall
promptly provide the other party with prior notice of such public statement or communication. Notwithstanding the foregoing, the Company
shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any
regulatory agency or Trading Market, without the prior written consent of such Purchaser, except (a) as required by federal securities
law in connection with the filing of final Transaction Documents with the Commission and (b) to the extent such disclosure is required
by law or Trading Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted
under this clause (b).

 

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4.5             
Shareholder Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other
Person, that any Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison
pill (including any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted
by the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving
Shares under the Transaction Documents or under any other agreement between the Company and the Purchasers.

 

4.6             
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by the
Transaction Documents, which shall be disclosed pursuant to Section 4.4, the Company covenants and agrees that neither it, nor any other
Person acting on its behalf will provide any Purchaser or its agents or counsel with any information that constitutes, or the Company
reasonably believes constitutes, material non-public information, unless prior thereto such Purchaser shall have consented to the receipt
of such information and agreed with the Company to keep such information confidential. The Company understands and confirms that each
Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company. To the extent that the Company
or any Person acting on its behalf delivers any material, non-public information to a Purchaser without such Purchaser’s consent,
the Company hereby covenants and agrees that such Purchaser shall not have any duty of confidentiality to the Company, any of its Subsidiaries,
or any of their respective officers, directors, agents, employees or Affiliates, or a duty to the Company, any of its Subsidiaries or
any of their respective officers, directors, agents, employees or Affiliates not to trade on the basis of, such material, non-public
information, provided that the Purchaser shall remain subject to applicable law. To the extent that any notice provided pursuant to any
Transaction Document constitutes, or contains, material, non- public information regarding the Company or any Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Company understands and confirms
that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.

 

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4.7             
Use of Proceeds. The Company shall use the net proceeds from the sale of the Shares hereunder for the purposes set forth
in the Prospectus Supplement and shall not use such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other
than payment of trade payables in the ordinary course of the Company’s business and prior practices), (b) for the redemption of
any Common Stock or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC
regulations.

 

4.8             
Indemnification of Purchasers. Subject to the provisions of this Section 4.8, the Company will indemnify and hold each
Purchaser and its directors, officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally
equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such
Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any
and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in
settlements, court costs and actual, reasonable and documented attorneys’ fees and costs of investigation that any such Purchaser
Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements
made by the Company in this Agreement or in the other Transaction Documents or (b) any action instituted against the Purchaser Parties
in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser
Party, with respect to any of the transactions contemplated by the Transaction Documents (unless such action is based upon a breach of
such Purchaser Party’s representations, warranties or covenants under the Transaction Documents or any agreements or understandings
such Purchaser Party may have with any such stockholder or any violations by such Purchaser Party of state or federal securities laws
or any conduct by such Purchaser Party which is finally judicially determined to constitute fraud, gross negligence or willful misconduct).
If any action shall be brought against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such
Purchaser Party shall promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with
counsel of its own choosing reasonably acceptable to the Purchaser Party. To the extent that a Purchaser Party fails to provide timely
notice of a claim for indemnity under this Section 4.8, and such failure materially prejudices the Company’s ability to defend
against such claim, the Company shall have no obligation under this Section 4.8 to indemnify the Purchaser Party for the claim (or portion
thereof) that was so affected. Any Purchaser Party shall have the right to employ separate counsel in any such action and participate
in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent
that (x) the employment thereof has been specifically authorized by the Company in writing, (y) the Company has failed after a reasonable
period of time to assume such defense and to employ counsel or (z) in such action there is, in the reasonable opinion of counsel, a material
conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case the Company
shall be responsible for the actual, reasonable and documented fees and expenses of no more than one such separate counsel. The Company
will not be liable to any Purchaser Party under this Agreement (1) for any settlement by a Purchaser Party effected without the Company’s
prior written consent, which shall not be unreasonably withheld or delayed; or (2) to the extent, but only to the extent that a loss,
claim, damage or liability is attributable to any Purchaser Party’s breach of any of the representations, warranties, covenants
or agreements made by such Purchaser Party in this Agreement or in the other Transaction Documents. The indemnification required by this
Section 4.8 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills
are received or are incurred. The indemnity agreements contained herein shall be in addition to any cause of action or similar right
of any Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law.

 

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4.9          Reserved.

 

4.10        Listing
of Common Stock. The Company hereby agrees to use commercially reasonable efforts to maintain the listing or quotation of the Common
Stock on the Trading Market on which it is currently listed, and concurrently with the Closing, the Company shall apply to list or quote
all of the Shares on such Trading Market and promptly use commercially reasonable efforts to secure the listing of all of the Shares
on such Trading Market. The Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market,
it will then include in such application all of the Shares, and will take such other action as is reasonably necessary to cause all of
the Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably
necessary to continue the listing and trading of its Common Stock on a Trading Market and will comply in all respects with the Company’s
reporting, filing and other obligations under the bylaws or rules of the Trading Market. For so long as the Company maintains a listing
or quotation of the Common Stock on a Trading Market, the Company agrees to use commercially reasonable efforts to maintain the eligibility
of the Common Stock for electronic transfer through the Depository Trust Company or another established clearing corporation, including,
without limitation, by timely payment of fees to the Depository Trust Company or such other established clearing corporation in connection
with such electronic transfer; provided, however, that this Section 4.10 shall not prevent a sale, merger or similar transaction involving
the Company.

 

4.11       
Reserved.

 

4.12       
Subsequent Equity Sales.

 

(a)              
From the date hereof until thirty (30) days after the Closing Date, neither the Company nor any Subsidiary shall (i) issue, enter
into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents or
(ii) file any registration statement or amendment or supplement thereto, other than the Prospectus Supplement or filing a registration
statement on Form S-8 in connection with any employee benefit plan.

 

(b)              
Notwithstanding the foregoing, this Section 4.12 shall not apply in respect of an Exempt Issuance.

 

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4.13         
 Equal Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered
or paid to any Person to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration
is also offered to all of the parties to such Transaction Documents. For clarification purposes, this provision constitutes a separate
right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the
Purchasers as a class and shall not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase,
disposition or voting of Shares or otherwise.

 

4.14         
Certain Transactions and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants
that neither it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including
Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement and ending at such
time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described
in Section 4.4.  Each Purchaser, severally and not jointly with the other Purchasers, covenants
that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company pursuant to the initial
press release as described in Section 4.4, such Purchaser will maintain the confidentiality of the existence and terms of this transaction. 
Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement to the contrary,
the Company expressly acknowledges and agrees that (i) no Purchaser makes any representation, warranty or covenant hereby that it will
not engage in effecting transactions in any securities of the Company after the time that the transactions contemplated by this Agreement
are first publicly announced pursuant to the initial press release as described in Section 4.4, (ii) no Purchaser shall be restricted
or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities laws from and
after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release
as described in Section 4.4 and (iii) no Purchaser shall have any duty of confidentiality or duty not to trade in the securities of the
Company to the Company or its Subsidiaries after the issuance of the initial press release as described in Section 4.4.  Notwithstanding
the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate
portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the
portfolio managers managing other portions of such Purchaser’s assets, the covenant set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by this Agreement.

 

4.15         
Reserved.

 

4.16          Sales
During Pre-Settlement Period. Notwithstanding anything herein to the contrary, if at any time on or after the time of execution
of this Agreement by the Company and an applicable Purchaser, through, and including the time immediately prior to the Closing (the
“Pre-Settlement Period”), such Purchaser sells to any Person all, or any portion, of any shares of Common Stock
to be issued hereunder to such Purchaser at the Closing (collectively, the “Pre-Settlement Shares”), such
Purchaser shall, automatically hereunder (without any additional required actions by such Purchaser or the Company), be deemed to be
unconditionally bound to purchase, and the Company shall be deemed unconditionally bound to sell, such Pre-Settlement Shares to such
Purchaser at the Closing; provided, that the Company shall not be required to deliver any Pre-Settlement Shares to such Purchaser
prior to the Company’s receipt of the purchase price of such Pre-Settlement Shares hereunder; and provided further that the
Company hereby acknowledges and agrees that the forgoing shall not constitute a representation or covenant by such Purchaser as to
whether or not during the Pre-Settlement Period such Purchaser shall sell any shares of Common Stock to any Person and that any such
decision to sell any shares of Common Stock by such Purchaser shall solely be made at the time such Purchaser elects to effect any
such sale, if any.

 

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ARTICLE V.

MISCELLANEOUS

 

5.1           
Termination.  This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder
only and without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other
parties, if the Closing has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided,
however, that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

 

5.2             
Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the
fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident
to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees
(including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes
and other taxes (excluding any income or sales taxes) and duties levied in connection with the delivery of any Shares to the Purchasers.

 

5.3          
Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, the Prospectus and the Prospectus
Supplement, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior
agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such
documents, exhibits and schedules.

 

5.4              Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto
at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such
notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth on
the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading
Day, (c) the second (2nd)Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices
and communications shall be as set forth on the signature pages attached hereto. To the extent that any notice provided pursuant to
any Transaction Document constitutes, or contains, material, non- public information regarding the Company or any Subsidiaries, the
Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

 

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5.5           
Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written
instrument signed, in the case of an amendment, by the Company and Purchasers which purchased (or, prior to the Closing, agreed to purchase)
at least 50.1% in interest of the Shares based on the initial Subscription Amounts hereunder or, in the case of a waiver, by the party
against whom enforcement of any such waived provision is sought, provided that if any amendment, modification or waiver disproportionately
and adversely impacts a Purchaser (or group of Purchasers), the consent of such disproportionately impacted Purchaser (or group of Purchasers)
shall also be required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed
to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement
hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.
Any proposed amendment or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser
relative to the comparable rights and obligations of the other Purchasers shall require the prior written consent of such adversely affected
Purchaser. Any amendment effected in accordance with this Section 5.5 shall be binding upon each Purchaser and holder of Shares and the
Company.

 

5.6             
Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed
to limit or affect any of the provisions hereof.

 

5.7             
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent
of each Purchaser (other than by merger). Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom
such Purchaser assigns or transfers any Shares, provided that such transferee agrees in writing to be bound, with respect to the transferred
Shares, by the provisions of the Transaction Documents that apply to the “Purchasers.”

 

5.8          
No Third-Party Beneficiaries. The Placement Agent shall be the third party beneficiary of the representations and warranties
of the Company in Section 3.1 and the representations and warranties of the Purchasers in Section 3.2. This Agreement is intended for
the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision
hereof be enforced by, any other Person, except as otherwise set forth in Section 4.8 and this Section 5.8.

 

5.9              Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be
governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and
defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced
exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect
to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Action or
Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such Action or Proceeding is
improper or is an inconvenient venue for such Action or Proceeding. Each party hereby irrevocably waives personal service of process
and consents to process being served in any such Action or Proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and
agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall
be deemed to limit in any way any right to serve process in any other manner permitted by law. If any party shall commence an Action
or Proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company under
Section 4.8, the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable
attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such Action or
Proceeding.

 

    25

     

    

 

5.10            
Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Shares.

 

5.11            
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party,
it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

5.12           
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall
remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by
such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
invalid, illegal, void or unenforceable.

 

5.13           
Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar
provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser may
rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election
in whole or in part without prejudice to its future actions and rights.

 

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5.14         
 Replacement of Shares. If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed,
the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation),
or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to
the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also
pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares.

 

5.15            
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of
damages, each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties
agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in
the Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the
defense that a remedy at law would be adequate.

 

5.16           
Payment Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction
Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement
or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged
by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law
(including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent
of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force
and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

5.17            Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or
non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any other
Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers
as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in
any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Documents. Each Purchaser shall be entitled to independently protect and enforce its rights including, without limitation, the
rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other
Purchaser to be joined as an additional party in any Proceeding for such purpose. Each Purchaser has been represented by its own
separate legal counsel in its review and negotiation of the Transaction Documents. For reasons of administrative convenience only,
each Purchaser and its respective counsel have chosen to communicate with the Company through the legal counsel of the Placement
Agent. The legal counsel of the Placement Agent does not represent any of the Purchasers and only represents the Placement Agent.
The Company has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company
and not because it was required or requested to do so by any of the Purchasers. It is expressly understood and agreed that each
provision contained in this Agreement and in each other Transaction Document is between the Company and a Purchaser, solely, and not
between the Company and the Purchasers collectively and not between and among the Purchasers.

 

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5.18           
Saturdays, Sundays, Holidays, etc.If the last or appointed day for the taking of any action or the expiration of any
right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

5.19         
Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to
revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved
against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition,
each and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse
and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the
date of this Agreement.

 

5.20        
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER
PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

 

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IN WITNESS WHEREOF, the
parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the
date first indicated above.

 

	Ocugen, Inc.	Address for Notice:
	 	 
	By:	               	 	Fax:
	 	 	 	 
	 	Name: Shankar Musunuri	E-mail: [***]
	 	Title: Chief Executive Officer	 
	 	 	 

 

With a copy to (which shall not constitute notice):

 

Troutman Pepper Hamilton Sanders LLP

3000 Two Logan Square

Eighteenth and Arch Streets

Philadelphia, PA 19103

Attention: Rachael Bushey & Jennifer Porter

Emails: Rachael.Bushey@Troutman.com &

Jennifer.Porter@Troutman.com

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

    

     

    

 

[PURCHASER SIGNATURE PAGES TO OCGN SECURITIES PURCHASE
AGREEMENT]

 

IN WITNESS WHEREOF, the undersigned
have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.

 

Name of Purchaser: ______________________________________________________

 

Signature of Authorized Signatory of Purchaser:
_________________________________

 

Name of Authorized Signatory: _______________________________________________

 

Title of Authorized Signatory: ________________________________________________

 

Email Address of Authorized Signatory:_________________________________________

 

Facsimile of Authorized Signatory:_________________________________________

 

Address for Notice to Purchaser:

 

Address for Delivery of Shares to Purchaser (if not same as address
for notice):

 

Subscription Amount: $_________________

 

Shares: _________________

 

EIN Number: ____________________

 

 ̈
Notwithstanding anything contained in this Agreement to the contrary, by checking this box (i) the obligations of the above-signed
to purchase the securities set forth in this Agreement to be purchased from the Company by the above-signed, and the obligations of
the Company to sell such securities to the above-signed, shall be unconditional and all conditions to Closing shall be disregarded,
(ii) the Closing shall occur by the second (2nd) Trading Day following the date of this Agreement and (iii) any condition to Closing
contemplated by this Agreement (but prior to being disregarded by clause (i) above) that required delivery by the Company or the
above-signed of any agreement, instrument, certificate or the like or purchase price (as applicable) shall no longer be a condition
and shall instead be an unconditional obligation of the Company or the above-signed (as applicable) to deliver such agreement,
instrument, certificate or the like or purchase price (as applicable) to such other party on the Closing Date.

 

[SIGNATURE PAGES CONTINUE]Exhibit 4.2

 

 

CCO HOLDINGS, LLC and CCO HOLDINGS CAPITAL CORP.,

as Issuers,

 

and

 

The
Bank of New York MELLON TRUST COMPANY, N.A.,

as Trustee

 

 

 

SIXTH
SUPPLEMENTAL INDENTURE

 

Dated as of April 22, 2021

 

 

 

4.500% Senior Notes due 2033

 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Article 1
	 	 	 
	DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	 
	Section 1.01	Definitions	2
	Section 1.02	Other Definitions	30
	 	 	 
	Article 2
	 	 	 
	THE NOTES
	 	 	 
	Section 2.01	Form and Dating	31
	Section 2.02	Execution and Authentication	32
	Section 2.03	Registrar and Paying Agent	32
	Section 2.04	Paying Agent to Hold Money in Trust	33
	Section 2.05	Holder Lists	33
	Section 2.06	Transfer and Exchange	34
	Section 2.07	Replacement Notes	47
	Section 2.08	Outstanding Notes	47
	Section 2.09	Treasury Notes	48
	Section 2.10	Temporary Notes	48
	Section 2.11	Cancellation	48
	Section 2.12	Defaulted Interest	48
	Section 2.13	CUSIP Numbers	49
	 	 	 
	Article 3
	 	 	 
	REDEMPTION AND PREPAYMENT
	 	 	 
	Section 3.01	Notices to Trustee	49
	Section 3.02	Selection of Notes to Be Redeemed	49
	Section 3.03	Notice of Redemption	50
	Section 3.04	Effect of Notice of Redemption	50
	Section 3.05	Deposit of Redemption Price	51
	Section 3.06	Notes Redeemed in Part	51
	Section 3.07	Optional Redemption	52
	Section 3.08	Mandatory Redemption	53
	Section 3.09	Offer to Purchase by Application of Excess Proceeds	53

 

    	 	-i-	 

     

    

 

	Article 4
	 	 	 
	COVENANTS
	 	 	 
	Section 4.03	Reports	55
	Section 4.04	Compliance Certificate.	56
	Section 4.05	Taxes	56
	Section 4.06	Stay, Extension and Usury Laws	56
	Section 4.07	Restricted Payments	57
	Section 4.08	Investments	61
	Section 4.09	Dividend and Other Payment Restrictions Affecting Subsidiaries	62
	Section 4.10	Incurrence of Indebtedness and Issuance of Preferred Stock	64
	Section 4.11	Limitation on Asset Sales	66
	Section 4.12	[Reserved]	68
	Section 4.13	Transactions with Affiliates	68
	Section 4.14	Liens	70
	Section 4.15	Existence	70
	Section 4.16	Repurchase at the Option of Holders upon a Change of Control Triggering Event.	71
	Section 4.17	Limitations on Issuances of Guarantees of Indebtedness	73
	Section 4.18	Special Interest Notice	73
	Section 4.19	Termination of Covenants	73
	 	 	 
	Article 5
	 	 	 
	SUCCESSORS
	 	 	 
	Section 5.01	Merger, Consolidation or Sale of Assets	74
	 	 	 
	Article 6
	 	 	 
	DEFAULTS AND REMEDIES
	 	 	 
	Article 7
	 	 	 
	TRUSTEE
	 	 	 
	Section 7.01	Duties of Trustee.	77
	Section 7.02	Rights of Trustee	78
	Section 7.03	Individual Rights of Trustee	79
	Section 7.04	Trustee’s Disclaimer	79
	Section 7.05	Notice of Defaults	80
	Section 7.06	[Reserved]	80
	Section 7.07	Compensation and Indemnity	80
	Section 7.08	Replacement of the Trustee	81
	Section 7.09	Successor Trustee by Merger, etc.	82
	Section 7.10	Eligibility; Disqualification	82

 

    	 	-ii-	 

     

    

 

	Article 8
	 	 	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 	 	 
	Section 8.03	Covenant Defeasance	82
	 	 	 
	Article 9
	 	 	 
	AMENDMENT, SUPPLEMENT AND WAIVER
	 	 	 
	Section 9.01	Without Consent of Holders of Notes	83
	Section 9.02	With Consent of Holders of Notes	83
	 	 	 
	Article 12
	 	 	 
	MISCELLANEOUS
	 	 	 
	Section 12.13	Table of Contents, Headings, etc.	84
	Section 12.17	Supplemental Indenture Controls	85
	Section 12.18	Submission to Jurisdiction	85
	 	 	 
	Article 13
	 	 	 
	SATISFACTION AND DISCHARGE
	 	 	 
	Section 13.01	Satisfaction and Discharge of Supplemental Indenture	85
	Section 13.02	Application of Trust Money	86

 

    	 	-iii-	 

     

    

 

SIXTH SUPPLEMENTAL INDENTURE, dated as of April 22,
2021, (this “Supplemental Indenture”) among CCO Holdings, LLC, a Delaware limited liability company (the “Company”),
CCO Holdings Capital Corp., a Delaware corporation (“Capital Corp” and, together with the Company, the “Issuers”),
and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”).

 

WHEREAS, the Issuers and the Trustee have previously
executed and delivered an Indenture, dated as of May 23, 2019 (the “Base Indenture”), providing for the issuance
from time to time of one or more series of senior debt securities of the Company and Capital Corp;

 

WHEREAS, Section 9.01 of the Base Indenture
provides that the Issuers and the Trustee may enter into a supplemental indenture to the Base Indenture to, among other things, establish
the form or terms of any series of Notes (as defined in the Base Indenture) as permitted by Section 2.01 and Section 9.01 of
the Base Indenture;

 

WHEREAS, clause (9) of Section 9.01 of
the Base Indenture provides that the Issuers and the Trustee may enter into a supplemental indenture changing or eliminating any provision
of the Base Indenture; provided that any such change shall become effective only when there are no outstanding Notes (as defined
in the Base Indenture) of such series created prior to the execution of such supplemental indenture which is entitled to the benefit of
such provisions;

 

WHEREAS, clause (8) of Section 9.01 of
the Base Indenture provides that the Issuers and the Trustee may enter into a supplemental indenture changing or eliminating any provision
of the Base Indenture to conform the Base Indenture, as amended or supplemented, to the description and terms of any series of notes in
the offering memorandum applicable to such series of notes at the time of the initial sale thereof without the consent of any holder of
such series of notes;

 

WHEREAS, each Issuer expressly subjected itself to
clauses (5) through (6) of Section 6.01 of the Base Indenture pursuant to each of (i) the Third Supplemental Indenture,
dated as of February 18, 2020, among CCO Holdings, LLC, CCO Holdings Capital Corp. and The Bank of New York Mellon Trust Company,
N.A., as trustee; (ii) Fourth Supplemental Indenture, dated as of March 18, 2020, among CCO Holdings, LLC, CCO Holdings Capital
Corp. and The Bank of New York Mellon Trust Company, N.A., as trustee; and (iii) the Fifth Supplemental Indenture, dated as of July 9,
2020, among CCO Holdings, LLC, CCO Holdings Capital Corp. and The Bank of New York Mellon Trust Company, N.A., as trustee (collectively,
the “Existing Supplemental Indentures”) and such clauses do not conform to the description of the notes in the offering memorandums
of the notes issued under the Existing Supplemental Indentures (collectively, the “Existing Notes”);

 

WHEREAS, the Issuers are also entering into this
Supplemental Indenture to, conform the Existing Supplemental Indentures to the description of the notes of the Existing Notes contained
in the related offering memorandums;

 

WHEREAS, the Issuers are also entering into this
Supplemental Indenture to, among other things, establish the form and terms of the Issuers’ new series of 4.500% Senior Notes due
2033 (the “Notes”) pursuant to the Base Indenture, as modified by this Supplemental Indenture;

 

    

     

    

 

WHEREAS, clause (8) of Section 9.01 of
the Base Indenture provides that the Issuers may conform the Base Indenture, as amended and supplemented, or the Notes, as amended or
supplemented, to the description and terms of such Notes in the offering memorandum, prospectus supplement or other offering document
applicable to such Notes at the time of the initial sale thereof; and

 

WHEREAS, all conditions necessary to authorize the
execution and delivery of this Supplemental Indenture and to make it a valid and binding obligation of the Issuers have been satisfied
or performed.

 

NOW, THEREFORE, in consideration of the agreements
and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Issuers
and the Trustee, for the benefit of each other and for the equal and ratable benefit of the Holders (as defined in the Base Indenture),
hereby enter into this Supplemental Indenture to, among other things, establish the terms of the Notes pursuant to Section 2.01 of
the Base Indenture and there is hereby established the Issuers’ “4.500% Senior Notes due 2033” as a separate series
of Notes (as defined in the Base Indenture) and such parties further agree that this Supplemental Indenture affects the Issuers’
4.500% Senior Notes due 2033 only and not any other series of Notes (as defined in the Base Indenture).

 

Article 1

 

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.01         Definitions.

 

The terms defined in this Section 1.01 (except
as herein otherwise expressly provided or unless the context of this Supplemental Indenture otherwise requires) for all purposes of this
Supplemental Indenture and of any indenture supplemental hereto that governs the Notes have the respective meanings specified in this
Section 1.01. All other terms used in this Supplemental Indenture that are defined in the Base Indenture, either directly or by reference
therein (except as herein otherwise expressly provided or unless the context of this Supplemental Indenture otherwise requires), have
the respective meanings assigned to such terms in the Base Indenture as in force at the date of this Supplemental Indenture as originally
executed.

 

“Acquired Debt” means, with
respect to any specified Person, Indebtedness:

 

(1)          of
any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of such specified Person,
whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming
a Restricted Subsidiary of, such specified Person; and

 

(2)          secured
by a Lien encumbering any asset acquired by such specified Person.

 

“Additional Notes” means Notes
issued pursuant to the terms of this Supplemental Indenture in addition to Initial Notes (other than any Notes issued in respect of Initial
Notes pursuant to Sections 2.06, 2.07, 2.10, 3.06, 3.09 or 4.16 of this Supplemental Indenture or Section 9.05 of the Base Indenture).

 

    	 	-2-	 

     

    

 

“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, shall mean the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled
by” and “under common control with” shall have correlative meanings.

 

“Applicable Percentage” means
100.0%; provided that so long as no Event of Default shall have occurred and be continuing or would result therefrom, the Applicable
Percentage shall be (1) 50% if, on a pro forma basis after giving effect to such Asset Sale and the use of proceeds therefrom the
Leverage Ratio would be less than or equal to 4.5 to 1.00 but greater than 4.00 to 1.00, or (2) 0.00% if, on a pro forma basis after
giving effect to such Asset Sale and the use of proceeds therefrom, the Leverage Ratio would be less than or equal to 4.00 to 1.00. Any
Net Proceeds in respect of an Asset Sale that does not constitute Applicable Proceeds as a result of the application of this definition
shall collectively constitute “Total Leverage Excess Proceeds.”

 

“Applicable Proceeds” has the
meaning assigned to such term in Section 4.11.

 

“Asset Acquisition” means (a) an
Investment by the Company or any of its Restricted Subsidiaries in any other Person pursuant to which such Person shall become a Restricted
Subsidiary of the Company or any of its Restricted Subsidiaries or shall be merged with or into the Company or any of its Restricted Subsidiaries,
or (b) the acquisition by the Company or any of its Restricted Subsidiaries of the assets of any Person which constitute all or substantially
all of the assets of such Person, any division or line of business of such Person or any other properties or assets of such Person other
than in the ordinary course of business.

 

“Asset Sale” means:

 

(1)          the
sale, lease, conveyance or other disposition of any assets or rights, other than sales of inventory in the ordinary course of the Cable
Related Business consistent with applicable past practices; provided that the sale, conveyance or other disposition of all or substantially
all of the assets of the Company and its Subsidiaries, taken as a whole, shall be governed by Section 4.16 and/or Section 5.01
and not by the provisions of Section 4.11; and

 

(2)          the
issuance of Equity Interests by any Restricted Subsidiary of the Company or the sale of Equity Interests in any Restricted Subsidiary
of the Company.

 

    	 	-3-	 

     

    

 

Notwithstanding the preceding, the following items
shall not be deemed to be Asset Sales:

 

(1)          any
single transaction or series of related transactions that: (a) involves assets having a fair market value of less than $100.0 million;
or (b) results in net proceeds to the Company and its Restricted Subsidiaries of less than $100.0 million;

 

(2)          a
transfer of assets between or among the Company and its Restricted Subsidiaries;

 

(3)          an
issuance of Equity Interests by a Restricted Subsidiary of the Company to the Company or to another Wholly Owned Restricted Subsidiary
of the Company;

 

(4)          any
Restricted Payment that is permitted by Section 4.07, any Restricted Investment that is permitted by Section 4.08 or a Permitted
Investment;

 

(5)          the
incurrence of Liens not prohibited by this Supplemental Indenture and the disposition of assets related to such Liens by the secured party
pursuant to a foreclosure;

 

(6)          any
disposition of cash or Cash Equivalents;

 

(7)          any
surrender or waiver of contract rights or settlement, including, without limitation, with respect to Hedging Obligations;

 

(8)          like-kind
property exchanges under Section 1031 of the Internal Revenue Code;

 

(9)          non-exclusive
licenses of intellectual property; and

 

(10)        any
sale or disposition of inventory or accounts receivable in the ordinary course of business.

 

“Base Indenture” has the meaning
assigned to it in the preamble to this Supplemental Indenture.

 

“Beneficial Owner” has the meaning
assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act as in effect on the Issue Date.

 

“Board of Directors” means the
board of directors or comparable governing body of Charter or if so specified the Company, in either case, as constituted as of the date
of any determination required to be made, or action required to be taken, pursuant to the Indenture.

 

“Bright House Acquisition Agreement”
means that certain Contribution Agreement, dated as of March 31, 2015, as amended on May 23, 2015, by and among Charter Communications, Inc.,
certain of its subsidiaries and the other parties thereto.

 

    	 	-4-	 

     

    

 

“Cable Related Business” means
the business of owning cable television systems and businesses ancillary, complementary and related thereto.

 

“Capital Corp” means CCO Holdings
Capital Corp., a Delaware corporation, and any successor Person thereto.

 

“Capital Lease Obligation” means,
at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at that time
be required to be capitalized on a balance sheet in accordance with GAAP.

 

“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 or membership interests (whether general or limited); and

 

(4)          any
other interest (other than any debt obligation) 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.

 

“Capital Stock Sale Proceeds”
means the aggregate net proceeds (including the fair market value of the non-cash proceeds) received by the Company or its Restricted
Subsidiaries from and after April 1, 2010, in each case

 

(x)           as
a contribution to the common equity capital or from the issue or sale of Equity Interests (other than Disqualified Stock and other than
issuances or sales to a Subsidiary of the Company) of any Parent or the Company from and after April 1, 2010, or

 

(y)          from
the issue or sale of Disqualified Stock, debt securities or other Indebtedness of the Company that has been converted into or exchanged
for such Equity Interests (other than Equity Interests (or Disqualified Stock, debt securities or other Indebtedness) sold to a Subsidiary
of the Company).

 

“Cash Equivalents” means:

 

(1)          U.S.
dollars;

 

(2)          securities
issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality thereof (provided that
the full faith and credit of the United States is pledged in support thereof) having maturities of not more than twelve months from the
date of acquisition;

 

    	 	-5-	 

     

    

 

(3)          certificates
of deposit and eurodollar time deposits with maturities of twelve months or less from the date of acquisition, bankers’ acceptances
with maturities not exceeding six months and overnight bank deposits, in each case, with any domestic commercial bank having combined
capital and surplus in excess of $500.0 million and a Thomson BankWatch Rating at the time of acquisition of “B” or better;

 

(4)          repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (2) and (3) above
entered into with any financial institution meeting the qualifications specified in clause (3) above;

 

(5)          commercial
paper having a rating at the time of acquisition of at least “P-1” from Moody’s or at least “A-1” from S&P
and in each case maturing within twelve months after the date of acquisition;

 

(6)          corporate
debt obligations maturing within twelve months after the date of acquisition thereof, rated at the time of acquisition at least “Aaa”
or “P-1” by Moody’s or “AAA” or “A-1” by S&P;

 

(7)          auction-rate
Preferred Stocks of any corporation maturing not later than 90 days after the date of acquisition thereof, rated at the time of acquisition
at least “Aaa” by Moody’s or “AAA” by S&P;

 

(8)          securities
issued by any state, commonwealth or territory of the United States, or by any political subdivision or taxing authority thereof, maturing
not later than six months after the date of acquisition thereof, rated at the time of acquisition at least “A” by Moody’s
or S&P; and

 

(9)          money
market or mutual funds at least 90% of the assets of which constitute Cash Equivalents of the kinds described in clauses (1) through
(8) of this definition.

 

“CCH II” means CCH II, LLC,
a Delaware limited liability company, and any successor Person thereto.

 

“CCHC” means Charter Communications
Holding Company, LLC, a Delaware limited liability company.

 

“CCO” means Charter Communications
Operating, LLC, a Delaware limited liability company, and any successor Person thereto.

 

“Change of Control” means the
occurrence of any of the following:

 

(1)          the
sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, or of a Parent and its Subsidiaries,
taken as a whole, to any “person” (as such term is used in Section 13(d)(3) of the Exchange Act) other than a Parent,
the Company or a Restricted Subsidiary;

 

    	 	-6-	 

     

    

 

 

(2)            the
adoption of a plan relating to the liquidation or dissolution of the Company or a Parent (except the liquidation of any Parent into any
other Parent); or

 

(3)            the
consummation of any transaction, including any merger or consolidation, the result of which is that any “person” (as defined
above) other than a Parent becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Company or
a Parent, measured by voting power rather than the number of shares.

 

Notwithstanding the foregoing, (a) a transaction
will not be deemed to involve a Change of Control if (i) Charter becomes a direct or indirect wholly owned subsidiary of a holding
company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction
are substantially the same as the holders of Charter’s Voting Stock immediately prior to that transaction or (B) immediately
following that transaction no person (other than a holding company satisfying the requirements of this sentence) is the Beneficial Owner,
directly or indirectly, of more than 50% of the Voting Stock of such holding company, measured by voting power rather than the number
of shares and (b) the right to acquire Voting Stock (so long as such person does not have the right to direct the voting of the Voting
Stock subject to such right) or any veto power in connection with the acquisition or disposition of Voting Stock will not cause a party
to be a Beneficial Owner.

 

“Change of Control Triggering Event”
means the occurrence of both a Change of Control and a Ratings Event.

 

“Charter” means Charter Communications, Inc.,
a Delaware corporation and the indirect parent of the Issuers, and any successor thereto.

 

“Charter Holdings” means Charter
Communications Holdings, LLC, a Delaware limited liability company, and any successor Person thereto.

 

“Charter Parent Refinancing Indebtedness”
means any Indebtedness of a Parent issued in exchange for, or the net proceeds of which are used within 90 days after the date of issuance
thereof to extend, refinance, renew, replace, defease, purchase, acquire or refund (including successive extensions, refinancings, renewals,
replacements, defeasances, purchases, acquisitions or refunds), Indebtedness (including Acquired Debt) incurred by CCH II or any
of its Subsidiaries or which refinances such Indebtedness; provided that:

 

(1)            the
principal amount (or accreted value, if applicable) of such Charter Parent Refinancing Indebtedness does not exceed the principal amount
of (or accreted value, if applicable) plus accrued interest and premium, if any, on the Indebtedness so extended, refinanced, renewed,
replaced, defeased, purchased, acquired or refunded (plus the amount of reasonable fees, commissions and expenses incurred in connection
therewith);

 

(2)            such
Charter Parent Refinancing Indebtedness has a final maturity date no earlier than the final maturity date of, and has a Weighted Average
Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced, renewed,
replaced, defeased or refunded; and

 

    	 	-7-	 

     

    

 

(3)            is
classified as such by the Company.

 

“Charter Subsidiary Refinancing Indebtedness”
means any Indebtedness of a Parent issued in exchange for, or the net proceeds of which are used within 90 days after the date of issuance
thereof to extend, refinance, renew, replace, defease, purchase, acquire or refund (including successive extensions, refinancings, renewals,
replacements, defeasances, purchases, acquisitions or refunds), Indebtedness (including Acquired Debt) incurred by the Company or
any of its Subsidiaries or which refinances such Indebtedness; provided that:

 

(1)            the
principal amount (or accreted value, if applicable) of such Charter Subsidiary Refinancing Indebtedness does not exceed the principal
amount of (or accreted value, if applicable) plus accrued interest and premium, if any, on the Indebtedness so extended, refinanced, renewed,
replaced, defeased, purchased, acquired or refunded (plus the amount of reasonable fees, commissions and expenses incurred in connection
therewith); and

 

(2)            such
Charter Subsidiary Refinancing Indebtedness has a final maturity date no earlier than the final maturity date of, and has a Weighted Average
Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced, renewed,
replaced, defeased or refunded.

 

“Company” means CCO Holdings,
LLC and any successor Person thereto.

 

“Consolidated EBITDA” means
with respect to any Person, for any period, the net income of such Person and its Restricted Subsidiaries for such period plus, to the
extent such amount was deducted in calculating such net income:

 

(1)            Consolidated
Interest Expense of such Person and its Restricted Subsidiaries;

 

(2)            income
taxes;

 

(3)            depreciation
expense;

 

(4)            amortization
expense;

 

(5)            asset
impairments or write-downs or write-offs;

 

(6)            all
other non-cash items, extraordinary items, non-recurring and unusual items (including any restructuring charges, costs and expenses and
charges, costs and expenses related to litigation settlements or judgments and/or charges, costs and expenses related to asset acquisitions
and dispositions) and the cumulative effects of changes in accounting principles reducing such net income, less all non-cash items, extraordinary
items, non-recurring and unusual items and cumulative effects of changes in accounting principles increasing such net income;

 

(7)            amounts
actually paid during such period pursuant to a deferred compensation plan;

 

    	 	-8-	 

     

    

 

(8)            any
premium, penalty or fee paid in relation to any repayment, prepayment or repurchase of Indebtedness;

 

(9)            all
deferred financing costs written off in connection with the early extinguishment of Indebtedness, net of taxes;

 

(10)          all
costs, expenses and fees related to the issuance of the Notes;

 

(11)          the
amount of “runrate” cost savings projected by the Issuers in good faith, net of the amount of actual benefits realized or
expected to be realized (which cost savings shall be calculated on a pro forma basis as though they had been realized on the first day
of such period) from actions taken or to be taken prior to or during such period; provided that (A) (x) such cost savings
are reasonably identifiable and expected to be achieved based on such actions and (y) the benefits resulting therefrom are anticipated
by the Issuers to be realized within twelve months of such actions and (B) the aggregate amount added back pursuant to this clause
(11) for any period shall not exceed 20% of Consolidated EBITDA for such period prior to giving effect to this clause (11), provided
further that this clause (11), for the avoidance of doubt, shall not result in an amount less than zero; and

 

(12)          for
purposes of (x) Section 4.10 and (y) calculation of the Leverage Ratio in clause (15) of the second paragraph of Section 4.07
only, Management Fees;

 

provided
that Consolidated EBITDA shall not include:

 

(w)           the
net income (or net loss) of any Person that is not a Restricted Subsidiary (“Other Person”), except:

 

(i)             with
respect to net income, to the extent of the amount of dividends or other distributions actually paid to such Person or any of its Restricted
Subsidiaries by such Other Person during such period; and

 

(ii)            with
respect to net losses, to the extent of the amount of investments made by such Person or any Restricted Subsidiary of such Person in such
Other Person during such period;

 

(x)            solely
for the purposes of calculating the amount of Restricted Payments that may be made pursuant to clause (3) of the first paragraph
of Section 4.07 (and in such case, except to the extent includable pursuant to clause (w) above), the net income (or net loss)
of any Other Person accrued prior to the date it becomes a Restricted Subsidiary or is merged into or consolidated with such Person or
any Restricted Subsidiaries or all or substantially all of the property and assets of such Other Person are acquired by such Person or
any of its Restricted Subsidiaries;

 

    	 	-9-	 

     

    

 

(y)            solely
for purposes of clause (3) of the first paragraph of Section 4.07, the net income of any Restricted Subsidiary of the Company
to the extent that the payment of dividends or similar distributions by such Restricted Subsidiary of such net income is restricted by
the operation of the terms of such Restricted Subsidiary’s charter or any agreement, instrument, judgment, decree, order, statute,
rule or governmental regulation applicable to such Restricted Subsidiary, unless (x) such restriction with respect to the payment
of dividends or similar distributions has been legally waived or (y) such restriction is permitted by Section 4.09; provided,
that the net income of such Restricted Subsidiary shall be increased by the amount of dividends or other distributions or payments actually
paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already included therein; and

 

(z)            effects
of any fresh start accounting adjustments.

 

“Consolidated Indebtedness”
means, with respect to any Person as of any date of determination, the sum, without duplication, of:

 

(1)            the
total amount of outstanding Indebtedness of such Person and its Restricted Subsidiaries, plus

 

(2)            the
total amount of Indebtedness of any other Person that has been Guaranteed by the referent Person or one or more of its Restricted Subsidiaries,
plus

 

(3)            the
aggregate liquidation value of all Disqualified Stock of such Person and all Preferred Stock of Restricted Subsidiaries of such Person,

 

in each case, determined on a consolidated
basis in accordance with GAAP.

 

“Consolidated Interest Expense”
means, with respect to any Person for any period, without duplication, the sum of:

 

(1)            the
consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or accrued (including, without
limitation, amortization or original issue discount, non-cash interest payments, the interest component of any deferred payment obligations,
the interest component of all payments associated with Capital Lease Obligations, commissions, discounts and other fees and charges incurred
in respect of letter of credit or bankers’ acceptance financings, and net payments (if any) pursuant to Hedging Obligations);

 

(2)            the
consolidated interest expense of such Person and its Restricted Subsidiaries that was capitalized during such period; and

 

(3)            any
interest expense on Indebtedness of another Person that is guaranteed by such Person or one of its Restricted Subsidiaries or secured
by a Lien on assets of such Person or one of its Restricted Subsidiaries (whether or not such Guarantee or Lien is called upon); excluding,
however, any amount of such interest of any Restricted Subsidiary of the referent Person if the net income of such Restricted Subsidiary
is excluded in the calculation of Consolidated EBITDA pursuant to clause (x) of the definition thereof (but only in the same proportion
as the net income of such Restricted Subsidiary is excluded from the calculation of Consolidated EBITDA pursuant to clause (x) of
the definition thereof), in each case, on a consolidated basis and in accordance with GAAP.

 

    	 	-10-	 

     

    

 

“Consolidated Net Tangible Assets”
means, as of any date of determination, the total amount of assets (less applicable reserves and other properly deductible items) of the
Company and the Restricted Subsidiaries less the sum of (1) all goodwill, trade names, trademarks, patents, unamortized debt discount
and expense and other intangibles, and (2) all current liabilities, in each case, reflected on the most recent consolidated balance
sheet of the Company and the Restricted Subsidiaries as at the end of the most recent ended fiscal quarter for which financial statements
have been delivered pursuant to this Supplemental Indenture, determined on a consolidated basis in accordance with GAAP on a pro forma
basis to give effect to any acquisition or disposition of assets made after such balance sheet date and on or prior to the date of determination.

 

“Contribution Indebtedness”
means Indebtedness or Disqualified Stock of the Company or any Restricted Subsidiary in an aggregate principal amount not greater than
the aggregate amount of cash contributions (other than the proceeds from the issuance of Disqualified Stock or any cash contribution by
an Issuer or a Restricted Subsidiary) made to the capital of the Company or a Restricted Subsidiary after the Issue Date (whether through
the issuance of Capital Stock or otherwise); provided that such Contribution Indebtedness is incurred within 180 days after the
making of the related cash contribution.

 

“Credit Facilities” means, with
respect to the Company and/or its Restricted Subsidiaries, and with respect to any other entity as the context requires, one or more debt
facilities (including indentures), in each case with banks, lenders or noteholders (other than a Parent of the Issuers) providing for
revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose
entities formed to borrow from such lenders against such receivables) letters of credit, notes, guarantees, and commercial paper in each
case, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time.

 

“Default” means any event that
is, or with the passage of time or the giving of notice or both would be, an Event of Default; provided, that any Default that
results solely from the taking of an action that would have been permitted but for the continuation of a previous Default will be deemed
to be cured if such previous Default is cured prior to becoming an Event of Default.

 

“Declined Excess Proceeds” has
the meaning assigned to such term in Section 4.11.

 

“Definitive Note” means a certificated
Note registered in the name of the Holder thereof and issued in accordance with Section 2.06, substantially in the form of Exhibit A
hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in
the Global Note” attached thereto.

 

“Depositary” means, with respect
to the Global Notes, the Person specified in Section 2.03 as the Depositary with respect to the Notes, and any and all successors
thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Supplemental Indenture.

 

    	 	-11-	 

     

    

 

“Derivative Instrument” with
respect to a Person, means any contract, instrument or other right to receive payment or delivery of cash or other assets to which such
Person or any Affiliate of such Person that is acting in concert with such Person in connection with such Person’s investment in
the Notes (other than a Screened Affiliate) is a party (whether or not requiring further performance by such Person), the value and/or
cash flows of which (or any material portion thereof) are materially affected by the value and/or performance of the Notes and/or the
creditworthiness of the Issuers (the “Performance References”).

 

“Designated Noncash Consideration”
means the fair market value of noncash consideration received by the Issuers or a Restricted Subsidiary in connection with an Asset Sale
that is so designated as Designated Noncash Consideration pursuant to an Officers’ Certificate, setting forth the basis of such
valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of such Designated Noncash Consideration.

 

“Designated Parent Companies”
means CCH II, Charter, CCHC and Charter Holdings.

 

“Disposition” means, with respect
to any Person, any merger, consolidation or other business combination involving such Person (whether or not such Person is the surviving
Person) or the sale, assignment, transfer, lease or conveyance or other disposition of all or substantially all of such Person’s
assets or Capital Stock.

 

“Disqualified Stock” means any
Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each
case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is
91 days after the earlier of the date on which the Notes mature or the date on which the Notes are no longer outstanding. Notwithstanding
the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to
require the Company to repurchase such Capital Stock upon the occurrence of a Change of Control or an Asset Sale shall not constitute
Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant
to such provisions unless such repurchase or redemption complies with Section 4.07.

 

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

 

“Equity Offering” means any
private or public issuance of Qualified Capital Stock of the Company or a Parent of which the gross proceeds to the Company or received
by the Company as a capital contribution from such Parent (directly or indirectly), as the case may be, are at least $25.0 million.

 

“Exchange Notes” means any notes
issued in exchange for Notes pursuant to the Registration Rights Agreement or similar agreement.

 

“Exchange Offer” means the offer
of the Issuers to issue and deliver to Holders of Notes that are not prohibited by law or policy of the SEC from participating in such
offer in exchange for such Notes, a like aggregate principal amount of Exchange Notes.

 

    	 	-12-	 

     

    

 

“Exchange Offer Registration Statement”
means a registration statement relating to the Exchange Offer as provided in the Registration Rights Agreement.

 

“Existing Indebtedness” means
Indebtedness of the Company and its Restricted Subsidiaries in existence on the Issue Date, until such amounts are repaid.

 

“GAAP” means generally accepted
accounting principles in the United States which are in effect on September 27, 2010. At any time on or after the Issue Date, the
Issuers may elect to establish that GAAP shall mean GAAP as in effect on or prior to the date of such election; provided that any
such election, once made, shall be irrevocable. At any time after the Issue Date, the Issuers may elect to apply International Financial
Reporting Standards (“IFRS”) accounting principles in lieu of GAAP and, upon any such election, references herein to
GAAP shall thereafter be construed to mean IFRS on the date of such election; provided that any such election, once made, shall
be irrevocable; provided, further, that any calculation or determination in the Indenture that requires the application of GAAP for periods
that include fiscal quarters ended prior to the Issuers’ election to apply IFRS shall remain as previously calculated or determined
in accordance with GAAP. The Issuers shall give notice of any such election made in accordance with this definition to the Trustee.

 

If there occurs a change in IFRS or GAAP, as the
case may be, and such change would cause a change in the method of calculation of any standards, terms or measures (including all computations
of amounts and ratios) used in this Indenture (an “Accounting Change”), then the Issuers may elect that such standards,
terms or measures shall be calculated as if such Accounting Change had not occurred.

 

“Global Note Legend” means the
legend set forth in Section 2.06(g)(ii) which is required to be placed on all Global Notes issued under this Supplemental Indenture.

 

“Guarantee” or “guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect,
in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in
respect thereof, of all or any part of any Indebtedness, measured as the lesser of the aggregate outstanding amount of the Indebtedness
so guaranteed and the face amount of the guarantee.

 

“Guarantor” means any Subsidiary
of the Company that executes a supplemental indenture and provides a Subsidiary Guarantee in accordance with Section 4.17 hereof.

 

“Hedging Obligations” means,
with respect to any Person, the obligations of such Person under:

 

(1)            interest
rate swap agreements, interest rate cap agreements and interest rate collar agreements;

 

(2)            interest
rate option agreements, foreign currency exchange agreements, foreign currency swap agreements; and

 

    	 	-13-	 

     

    

 

(3)            other
agreements or arrangements designed to protect such Person against fluctuations in interest and currency exchange rates.

 

“Holder” means a holder of the
Notes.

 

“Indebtedness” means, with respect
to any specified Person, any indebtedness of such Person, whether or not contingent:

 

(1)            in
respect of borrowed money;

 

(2)            evidenced
by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

 

(3)            in
respect of banker’s acceptances;

 

(4)            representing
Capital Lease Obligations;

 

(5)            in
respect of the balance deferred and unpaid of the purchase price of any property due more than six months after the property is acquired,
except any such balance that constitutes an accrued expense or trade payable; or

 

(6)            represented
by Hedging Obligations only to the extent an amount is then owed and is payable pursuant to the terms of such Hedging Obligations,

 

if and to the extent any of the preceding items would appear as a liability
upon a balance sheet of the specified Person prepared in accordance with GAAP.

 

In addition, the term “Indebtedness”
includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed
by the specified Person) and, to the extent not otherwise included, the guarantee by such Person of any indebtedness of any other Person.
The amount of any Indebtedness outstanding as of any date shall be:

 

(1)            the
accreted value thereof, in the case of any Indebtedness issued with original issue discount; and

 

(2)            the
principal amount thereof, together with any interest thereon that is more than 30 days past due, in the case of any other Indebtedness.

 

Notwithstanding the foregoing, in no event shall
payments required to be made pursuant to the Bright House Acquisition Agreement be deemed to be Indebtedness.

 

“Indenture” means the Base Indenture,
as supplemented by this Supplemental Indenture and as further amended or supplemented from time to time with respect to the Notes.

 

“Initial Notes” means the Notes
issued on the Issue Date (and any Notes issued in respect thereof pursuant to Section 2.06, 2.07, 2.10, 3.06, 3.09 or 4.16 of this
Supplemental Indenture or Section 9.05 of the Base Indenture).

 

    	 	-14-	 

     

    

 

“Initial Purchasers” means

 

Deutsche Bank Securities Inc., Citigroup Global
Markets Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Mizuho Securities USA
LLC, MUFG Securities Americas Inc., Wells Fargo Securities, LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, RBC Capital
Markets, LLC, TD Securities (USA) LLC, Barclays Capital Inc., BNP Paribas Securities Corp., Scotia Capital (USA) Inc., SMBC Nikko Securities
America, Inc., Truist Securities, Inc., Credit Agricole Securities (USA) Inc., U.S. Bancorp Investments, Inc., LionTree
Advisors LLC, Bancroft Capital, LLC, CastleOak Securities, L.P., Penserra Securities LLC and R. Seelaus & Co., LLC

 

“Investment Grade Rating” means
a rating equal to or higher than (x) in the case of Moody’s, Baa3 (or the equivalent), (y) in the case of S&P, BBB-
(or the equivalent) and (z) in the case of any other Rating Agency, the equivalent rating by such Rating Agency to the ratings described
in clauses (x) and (y).

 

“Investments” means, with respect
to any Person, all investments by such Person in other Persons, including Affiliates, in the forms of direct or indirect loans (including
guarantees of Indebtedness or other obligations), advances or capital contributions (excluding commission, travel and similar advances
to officers and employees made in the ordinary course of business) and purchases or other acquisitions for consideration of Indebtedness,
Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared
in accordance with GAAP.

 

“Issue Date” means April 22,
2021.

 

“Letter of Transmittal” means
the letter of transmittal to be prepared by the Issuers and sent to all Holders of any Notes for use by such Holders in connection with
any Exchange Offer.

 

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

 

(1)            the
Consolidated Indebtedness for borrowed money (less cash and Cash Equivalents that is unrestricted or is restricted in favor of holders
of Indebtedness included in calculating “Consolidated Indebtedness”) of the Company on such date to

 

(2)            the
aggregate amount of Consolidated EBITDA for the Company for the most recently ended fiscal quarter for which internal financial statements
are available multiplied by four (the “Reference Period”).

 

In addition to the foregoing, for purposes of this
definition, “Consolidated EBITDA” shall be calculated on a “pro forma” basis after giving effect to:

 

(1)            for
purposes of making the computations referred to above, any Investments, acquisitions, dispositions, mergers, consolidations and disposed
operations that have been made by the Issuers or any of their Restricted Subsidiaries, during the Reference Period or subsequent to such
Reference Period and on or prior to the date of the calculation of the Leverage Ratio shall be calculated on a pro forma basis assuming
that all such Investments, acquisitions, dispositions, mergers, consolidations and disposed or discontinued operations (and the change
in Consolidated EBITDA resulting therefrom) had occurred on the first day of the Reference Period. If since the beginning of such period
any Person that subsequently became a Restricted Subsidiary or was merged with or into any Issuer or any of their Restricted Subsidiaries
since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation or disposed or discontinued
operation that would have required adjustment pursuant to this definition, then the Leverage Ratio shall be calculated giving pro forma
effect thereto for such period as if such Investment, acquisition, disposition, merger, consolidation or disposed operation had occurred
at the beginning of the applicable Reference Period;

 

    	 	-15-	 

     

    

 

(2)            the
incurrence of the Indebtedness or the issuance of the Disqualified Stock or other Preferred Stock (and the application of the proceeds
therefrom) giving rise to the need to make such calculation and any incurrence or issuance (and the application of the proceeds therefrom)
or repayment of other Indebtedness, Disqualified Stock or Preferred Stock, other than the incurrence or repayment of Indebtedness for
ordinary working capital purposes, at any time subsequent to the beginning of the Reference Period and on or prior to the date of determination,
as if such incurrence (and the application of the proceeds thereof), or the repayment, as the case may be, occurred on the first day of
the Reference Period; and

 

(3)            for
purposes of this definition, whenever pro forma effect is to be given to a transaction, the pro forma calculations shall be made in good
faith by a responsible financial or chief accounting officer of either Issuer including cost savings and synergies; provided that
(x) such cost savings and synergies are reasonably identifiable, reasonably attributable to the action specified and reasonably anticipated
to result from such actions, and (y) such actions have been taken or initiated or are expected to be taken or initiated within twelve
(12) months of the date of determination.

 

Notwithstanding anything herein to the contrary,
when calculating the Leverage Ratio in connection with a Limited Condition Acquisition, the date of determination of such ratio and of
any Default or Event of Default blocker shall, at the option of the Issuers, be the date the definitive agreements for such Limited Condition
Acquisition are entered into and such ratio shall be calculated on a pro forma basis after giving effect to such Limited Condition Acquisition
and the other transactions to be entered into in connection therewith (including any Incurrence of Indebtedness and the use of proceeds
thereof) as if they occurred at the beginning of the applicable Reference Period, and, for the avoidance of doubt, (x) if any of
such ratios are exceeded as a result of fluctuations in such ratio (including due to fluctuations in Consolidated EBITDA of the Issuers
or the target company) at or prior to the consummation of the relevant Limited Condition Acquisition and the Issuers have elected to test
such ratios on the date the definitive agreements for such Limited Condition Acquisition are entered into, such ratios will not be deemed
to have been exceeded as a result of such fluctuations solely for purposes of determining whether the Limited Condition Acquisition is
permitted hereunder and (y) such ratio shall not be tested at the time of consummation of such Limited Condition Acquisition or related
transactions; provided further that if the Issuers elect to have such determinations occur at the time of entry into such definitive
agreement, any such transactions shall be deemed to have occurred on the date the definitive agreements are entered and outstanding thereafter
for purposes of calculating any ratios hereunder after the date of such agreement and before the consummation of such Limited Condition
Acquisition and to the extent baskets were utilized in satisfying any covenants, such baskets shall be deemed utilized.

 

    	 	-16-	 

     

    

 

In calculating the amount of Consolidated Indebtedness
on the date of determination for purposes of the first paragraph of Section 4.10, the calculation shall not give effect to any Indebtedness
incurred on such determination date pursuant to the provisions described in the second paragraph under Section 4.10.

 

“Lien” means, with respect to
any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed,
recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in
the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing
statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

 

“Limited Condition Acquisition”
means any acquisition, including by way of merger, by the Issuers or one or more of their Restricted Subsidiaries whose consummation is
not conditioned upon the availability of, or on obtaining, third-party financing.

 

“Long Derivative Instrument”
means a Derivative Instrument (i) the value of which generally increases, and/or the payment or delivery obligations under which
generally decrease, with positive changes to the Performance References and/or (ii) the value of which generally decreases, and/or
the payment or delivery obligations under which generally increase, with negative changes to the Performance References.

 

“Make-Whole Premium” means,
with respect to a Note at any redemption date, the greater of:

 

(i)             1.0%
of the principal amount of such Note; and

 

(ii)            the
excess of:

 

(1)            the
present value at such redemption date of (A) the redemption price of such Note on June 1, 2027 (with such redemption price being
as set forth in Section 3.07(a)) plus (B) all required remaining scheduled interest payments due on such Note through June 1,
2027, other than accrued interest to such redemption date, computed using a discount rate equal to the Treasury Rate plus 50 basis points
per annum discounted on a semi-annual bond equivalent basis, over

 

(2)            the
principal amount of such Note on such redemption date.

 

“Management Fees” means the
fees payable to Charter or any other Parent pursuant to the management and mutual services agreements between any Parent of the Company
and/or CCO and between any Parent of the Company and other Restricted Subsidiaries of the Company and pursuant to the limited liability
company agreements of certain Restricted Subsidiaries as such management, mutual services or limited liability company agreements exist
on the Issue Date (or, if later, on the date any new Restricted Subsidiary is acquired or created), including any amendment or replacement
thereof, provided that any such new agreements or amendments or replacements of existing agreements is not more disadvantageous
to Holders in any material respect than such management agreements existing on the Issue Date; and further provided that such new,
amended or replacement management agreements do not provide for percentage fees, taken together with fees under existing agreements, any
higher than 3.5% of Charter’s consolidated total revenues for the applicable payment period.

 

    	 	-17-	 

     

    

 

“Moody’s” means Moody’s
Investors Service, Inc. or any successor to the rating agency business thereof.

 

“Net Proceeds” means the aggregate
cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation,
any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs
relating to such Asset Sale, including, without limitation, legal, accounting and investment banking fees, and sales commissions, and
any relocation expenses incurred as a result thereof or taxes paid or payable as a result thereof (including amounts distributable in
respect of owners’, partners’ or members’ tax liabilities resulting from such sale), in each case after taking into
account any available tax credits or deductions and any tax sharing arrangements and amounts required to be applied to the repayment of
Indebtedness.

 

“Net Short” means, with respect
to a Holder or Beneficial Owner, as of a date of determination, either (i) the value of its Short Derivative Instruments exceeds
the sum of the (x) the value of its Notes plus (y) the value of its Long Derivative Instruments as of such date of determination
or (ii) it is reasonably expected that such would have been the case were a Failure to Pay or Bankruptcy Credit Event (each as defined
in the 2014 ISDA Credit Derivatives Definitions) to have occurred with respect to any Issuer or any Guarantor immediately prior to such
date of determination.

 

“Note” or “Notes”
has the meaning assigned to it in the preamble and includes the Initial Notes, any Additional Notes and any Exchange Notes.

 

“Obligations” means any principal,
interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing any
Indebtedness.

 

“Offering Memorandum” means
that certain offering memorandum relating to the Notes, dated April 19, 2021.

 

“Other Person” has the meaning
assigned to such term in the definition of “Consolidated EBITDA.”

 

“Parent” means (i) any
of the Designated Parent Companies, and each of their respective successors (by way of conversion, merger and amalgamation), and/or any
direct or indirect Subsidiary of the foregoing a majority of the Capital Stock of which is owned directly or indirectly by one or more
of the foregoing Persons, as applicable, and that directly or indirectly beneficially owns a majority of the Capital Stock of the Company,
and any successor Person to any of the foregoing; and (ii) any holding company of the foregoing where the direct or indirect holders
of the voting stock of such holding company immediately following the transaction where the holding company became a holding company are
substantially the same as the holders of the Issuers’ voting stock immediately prior to that transaction. For purposes of the second
paragraph of Section 4.07, the term “Parent” shall include any corporate co-obligor if such Parent is a limited liability
company or other association not taxed as a corporation.

 

    	 	-18-	 

     

    

 

“Performance Reference” has
the meaning assigned to such term in the definition of “Derivative Instrument.”

 

“Permitted Investments” means:

 

(1)            any
Investment in the Company or by the Company in the Company or in a Restricted Subsidiary of the Company, or any Investment by a Restricted
Subsidiary of the Company in the Company or in another Restricted Subsidiary of the Company;

 

(2)            any
Investment in Cash Equivalents;

 

(3)            any
Investment by the Company or any of its Restricted Subsidiaries in a Person, if as a result of such Investment:

 

(a)            such
Person becomes a Restricted Subsidiary of the Company; or

 

(b)            such
Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is liquidated
into, the Company or a Restricted Subsidiary of the Company;

 

(4)            any
Investment made as a result of the receipt of non-cash consideration from any Asset Sale that was made pursuant to and in compliance with
Section 4.11;

 

(5)            any
Investment made out of the net cash proceeds of the issue and sale after the Issue Date (other than to a Subsidiary of the Company) of
Equity Interests (other than Disqualified Stock) of the Company (or cash contributions to the equity capital of the Company) to the extent
that such net cash proceeds have not been applied to make a Restricted Payment or to effect other transactions pursuant to Section 4.07
hereof (with the amount of usage of the basket in this clause (5) being determined net of the aggregate amount of principal, interest,
dividends, distributions, repayments, proceeds or other value otherwise returned or recovered in respect of any such Investment, but not
to exceed the initial amount of such Investment);

 

(6)            other
Investments in any Person (other than any Parent) having an aggregate fair market value, when taken together with all other Investments
in any Person made by the Company and its Restricted Subsidiaries (without duplication) pursuant to this clause (6) from and after
the Issue Date, not to exceed the greater of (A) 4.5% of Total Assets and (B) $7.0 billion (initially measured on the date each
such Investment was made and without giving effect to subsequent changes in value, but reducing the amount outstanding by the aggregate
amount of principal, interest, dividends, distributions, repayments, proceeds or other value otherwise returned or recovered in respect
of any such Investment, provided that if such amount exceeds the initial amount of such Investment, such amount shall be added
to the amount available under this clause) at any one time outstanding;

 

    	 	-19-	 

     

    

 

(7)            Investments
in customers and suppliers in the ordinary course of business which either (A) generate accounts receivable or (B) are accepted
in settlement of bona fide disputes;

 

(8)            Investments
of a Restricted Subsidiary acquired after the Issue Date or of an entity merged into the Company or merged into or consolidated with a
Restricted Subsidiary after the Issue Date to the extent that such Investments were not made in contemplation of or in connection with
such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation;

 

(9)            any
Investment (other than an Investment in a Restricted Subsidiary) existing or pursuant to agreements or arrangements in effect, on the
Issue Date and any modification, replacement, renewal or extension thereof; provided that the amount of any such Investment may
be increased (x) as required by the terms of such Investment as in existence on the Issue Date or (y) as otherwise permitted
under this Supplemental Indenture;

 

(10)            Investments
received as a result of a bankruptcy, workout, reorganization or recapitalization of customers or suppliers;

 

(11)            as
a result of a foreclosure by the Company or any Restricted Subsidiary with respect to any secured Investment or other transfer of title
with respect to any secured Investment in default;

 

(12)            any
Investment represented by Hedging Obligations not entered into for speculative purposes;

 

(13)            loans
and advances to officers, directors and employees for business-related travel expenses, moving expenses and other expenses, in each case
incurred in the ordinary course of business or to finance the purchase of Equity Interests of the Company or any Parent and in an amount
not to exceed $25.0 million at any one time outstanding;

 

(14)            Investments
the payment for which consists of Equity Interests of the Company or any Parent (exclusive of Disqualified Stock of the Company);

 

(15)            Guarantees
of Indebtedness permitted by Section 4.10;

 

(16)            Investments
consisting of purchases and acquisitions of inventory, supplies, material or equipment or the licensing or contribution of intellectual
property pursuant to joint marketing arrangements with other Persons, in each case in the ordinary course of business;

 

(17)            Investments
consisting of the non-exclusive licensing or contribution of intellectual property pursuant to joint marketing arrangements with other
persons;

 

(18)            the
creation of Liens on the assets of the Company or any of its Restricted Subsidiaries in compliance with Section 4.14;

 

    	 	-20-	 

     

    

 

(19)            Investments
consisting of earnest money deposits acquired in connection with a purchase agreement or other acquisitions to the extent not otherwise
prohibited under this Supplemental Indenture;

 

(20)            without
duplication of amounts that otherwise increased the amount available under one or more of the foregoing categories of Permitted Investments,
investments made from the proceeds from any dividend or distribution by an Unrestricted Subsidiary to the Company or any of its Restricted
Subsidiaries; and

 

(21)            Investments
in an aggregate outstanding amount not to exceed an amount equal to the sum of the Total Leverage Excess Proceeds and Declined Excess
Proceeds that has not been utilized to make Restricted Payments in reliance on clause (17) of the second paragraph of Section 4.07.

 

“Permitted Liens” means:

 

(1)            Liens
on the assets of, or Equity Interests in, a Restricted Subsidiary of the Company securing Indebtedness and other Obligations under any
of the Credit Facilities of such Restricted Subsidiary;

 

(2)            Liens
in favor of the Company;

 

(3)            Liens
on property of a Person existing at the time such Person is merged with or into or consolidated with the Company; provided that
such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those
of the Person merged into or consolidated with the Company;

 

(4)            Liens
on property existing at the time of acquisition thereof by the Company; provided that such Liens were in existence prior to the
contemplation of such acquisition;

 

(5)            Liens
to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or other obligations of a like nature incurred
in the ordinary course of business;

 

(6)            purchase
money mortgages or other purchase money Liens (including, without limitation, any Capital Lease Obligations) incurred by the Company upon
any fixed or capital assets acquired after the Issue Date or purchase money mortgages (including without limitation Capital Lease Obligations)
on any such assets, whether or not assumed, existing at the time of acquisition of such assets, whether or not assumed, so long as

 

(i)            such
mortgage or Lien does not extend to or cover any of the assets of the Company, except the asset so developed, constructed, or acquired,
and directly related assets such as enhancements and modifications thereto, substitutions, replacements, proceeds (including insurance
proceeds), products, rents and profits thereof, and

 

    	 	-21-	 

     

    

 

(ii)          such
mortgage or Lien secures the obligation to pay all or a portion of the purchase price of such asset, interest thereon and other charges,
costs and expenses (including, without limitation, the cost of design, development, construction, acquisition, transportation, installation,
improvement, and migration) and is incurred in connection therewith (or the obligation under such Capital Lease Obligation) only;

 

(7)          Liens
existing on the Issue Date and replacement Liens therefor that do not encumber additional property;

 

(8)          Liens
for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in good faith by appropriate
proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision as shall be
required in conformity with GAAP shall have been made therefor;

 

(9)          statutory
and common law Liens of landlords and carriers, warehousemen, mechanics, suppliers, materialmen, repairmen or other similar Liens arising
in the ordinary course of business and with respect to amounts not yet delinquent or being contested in good faith by appropriate legal
proceedings promptly instituted and diligently conducted and for which a reserve or other appropriate provision, if any, as shall be required
in conformity with GAAP shall have been made;

 

(10)         Liens
incurred or deposits made in the ordinary course of business in connection with workers’ compensation, unemployment insurance and
other types of social security;

 

(11)         Liens
incurred or deposits made to secure the performance of tenders, bids, leases, statutory or regulatory obligation, bankers’ acceptance,
surety and appeal bonds, government contracts, performance and return-of-money bonds and other obligations of a similar nature incurred
in the ordinary course of business (exclusive of obligations for the payment of borrowed money);

 

(12)         easements,
rights-of-way, municipal and zoning ordinances and similar charges, encumbrances, title defects or other irregularities that do not materially
interfere with the ordinary course of business of the Company or any of its Restricted Subsidiaries;

 

(13)         Liens
of franchisors or other regulatory bodies arising in the ordinary course of business;

 

(14)         Liens
arising from filing Uniform Commercial Code financing statements regarding leases or other Uniform Commercial Code financing statements
for precautionary purposes relating to arrangements not constituting Indebtedness;

 

(15)         Liens
arising from the rendering of a final judgment or order against the Company or any of its Restricted Subsidiaries that does not give rise
to an Event of Default;

 

    	 	-22-	 

     

    

 

(16)          Liens
securing reimbursement obligations with respect to letters of credit that encumber documents and other property relating to such letters
of credit and the products and proceeds thereof;

 

(17)          Liens
encumbering customary initial deposits and margin deposits, and other Liens, in each case, securing Indebtedness under Hedging Obligations
and forward contracts, options, future contracts, future options or similar agreements or arrangements designed solely to protect the
Company or any of its Restricted Subsidiaries from fluctuations in interest rates, currencies or the price of commodities;

 

(18)          Liens
consisting of any interest or title of licensor in the property subject to a license;

 

(19)          Liens
on the Capital Stock of Unrestricted Subsidiaries;

 

(20)          Liens
arising from sales or other transfers of accounts receivable which are past due or otherwise doubtful of collection in the ordinary course
of business;

 

(21)          Liens
incurred with respect to obligations which in the aggregate do not exceed the greater of (i) $300.0 million or (ii) 1.0% of
Consolidated Net Tangible Assets at any one time outstanding;

 

(22)          Liens
in favor of the Trustee arising under the provisions of Section 7.07 of this Supplemental Indenture and similar provisions in favor
of trustees or other agents or representatives under indentures or other agreements governing debt instruments entered into after the
date hereof;

 

(23)          Liens
in favor of the Trustee for its benefit and the benefit of Holders as their respective interests appear; and

 

(24)          Liens
securing Permitted Refinancing Indebtedness, to the extent that the Indebtedness being refinanced was secured or was permitted to be secured
by such Liens.

 

“Permitted Refinancing Indebtedness”
means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used
within 60 days after the date of issuance thereof, to extend, refinance, renew, replace, defease or refund, other Indebtedness of the
Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that, unless otherwise permitted
by this Supplemental Indenture, no Indebtedness of any Restricted Subsidiary (other than, for the avoidance of doubt, a corporate co-issuer
whose primary purpose is to act as a co-issuer and any Restricted Subsidiary that is a Guarantor) may be issued in exchange for, nor may
the net proceeds of Indebtedness be used to extend, refinance, renew, replace, defease or refund, Indebtedness of the direct or indirect
parent of such Restricted Subsidiary; provided, further, that:

 

(1)          the
principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount of
(or accreted value, if applicable), plus accrued interest and premium, if any, on the Indebtedness so extended, refinanced, renewed, replaced,
defeased or refunded (plus the amount of expenses incurred in connection therewith), except to the extent that any such excess principal
amount (or accreted value, as applicable) would be then permitted to be incurred by other provisions of Section 4.10;

 

    	 	-23-	 

     

    

 

(2)          such
Permitted Refinancing Indebtedness has a final maturity date no earlier than the final maturity date of, and has a Weighted Average Life
to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced, renewed, replaced,
defeased or refunded; and

 

(3)          if
the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment to the Notes,
such Permitted Refinancing Indebtedness has a final maturity date later than the final maturity date of, and is subordinated in right
of payment to, the Notes on terms at least as favorable to Holders as those contained in the documentation governing the Indebtedness
being extended, refinanced, renewed, replaced, defeased or refunded.

 

“Person” means any individual,
corporation, partnership, joint venture, association, limited liability company, joint stock company, trust, unincorporated organization,
government or agency or political subdivision thereof or any other entity.

 

“Preferred Stock,” as applied
to the Capital Stock of any Person, means Capital Stock of any class or classes (however designated) which, by its terms, is preferred
as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such
Person, over shares of Capital Stock of any other class of such Person.

 

“Private Placement Legend” means
the legend set forth in Section 2.06(g)(i)(A) to be placed on all Notes issued under this Supplemental Indenture except where
otherwise permitted by the provisions of this Supplemental Indenture.

 

“Productive Assets” means assets
(including assets of a referent Person owned directly or indirectly through ownership of Capital Stock) of a kind used or useful in the
Cable Related Business.

 

“Qualified Capital Stock” means
any Capital Stock that is not Disqualified Stock.

 

“Rating Agencies” means (i) each
of Moody’s, S&P and Fitch Ratings Ltd. and (ii) if any of Moody’s, S&P or Fitch Ratings Ltd. ceases to rate the
Notes or fails to make a rating of the Notes publicly available for reasons outside the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, as amended, selected
by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Moody’s, S&P,
Fitch Ratings Ltd. or each of them, as the case may be.

 

“Ratings Decline Period” means
the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of
Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control;
provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is
under publicly announced consideration for downgrade by the applicable Rating Agency.

 

    	 	-24-	 

     

    

 

“Ratings Event” means a downgrade
by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating
of the Notes within the Ratings Decline Period by two or more Rating Agencies (unless the applicable Rating Agency shall have put forth
a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of Control) following
which (except in the case of a withdrawal of a rating) the rating of the Notes by each such Rating Agency is below such Rating Agency’s
rating of the Notes on the Issue Date.

 

“Reference Period” has the meaning
assigned to such term in the definition of “Leverage Ratio.”

 

“Register” means a register
in which, subject to such reasonable regulations as it may prescribe, the Issuers shall provide for the registration of the Notes and
of transfers and exchanges of such Notes which the Issuers shall cause to be kept at the appropriate office of the Registrar in accordance
with Section 2.03.

 

“Registration Rights Agreement”
means (1) with respect to the Notes issued on the Issue Date, the Registration Rights Agreement, to be dated the Issue Date, among
the Issuers and the Initial Purchasers with respect to such Notes and (2) with respect to any Additional Notes, any registration
rights agreement between the Issuers and the other parties thereto relating to the registration by the Issuers of such Additional Notes
under the Securities Act.

 

“Regulation S Global Note” means
a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend, the Private Placement Legend and
the Regulation S Legend deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued
in an initial denomination equal to the outstanding principal amount of any Additional Notes initially sold in reliance on Rule 903
of Regulation S.

 

“Regulation S Legend” means
the legend set forth in Section 2.06(g)(iii) which is required to be placed on all Regulation S Global Notes issued under this
Supplemental Indenture.

 

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

 

“Restricted Subsidiary” of a
Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary.

 

“Rule 144A Global Note”
means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note Legend and the Private Placement
Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in an initial
denomination equal to the outstanding principal amount of any Additional Notes initially sold in reliance on Rule 144A.

 

“S&P” means S&P Global
Ratings or any successor to the rating agency business thereof.

 

    	 	-25-	 

     

    

 

“Screened Affiliate” means any
Affiliate of a Holder (i) that makes investment decisions independently from such Holder and any other Affiliate of such Holder that
is not a Screened Affiliate, (ii) that has in place customary information screens between it and such Holder and any other Affiliate
of such Holder that is not a Screened Affiliate and such screens prohibit the sharing of information with respect to the Issuers or their
Subsidiaries, (iii) whose investment policies are not directed by such Holder or any other Affiliate of such Holder that is acting
in concert with such Holder in connection with its investment in the Notes, and (iv) whose investment decisions are not influenced
by the investment decisions of such Holder or any other Affiliate of such Holder that is acting in concert with such Holder in connection
with its investment in the Notes.

 

“Shelf Registration Statement”
means a “shelf” registration statement providing for the registration and the sale on a continuous or delayed basis of any
Notes as may be provided in the Registration Rights Agreement.

 

“Short Derivative Instrument”
means a Derivative Instrument (i) the value of which generally decreases, and/or the payment or delivery obligations under which
generally increase, with positive changes to the Performance References and/or (ii) the value of which generally increases, and/or
the payment or delivery obligations under which generally decrease, with negative changes to the Performance References.

 

“Significant Subsidiary” means
(a) with respect to any Person, any Restricted Subsidiary of such Person which accounted for more than 10% of (i) the consolidated
assets of such Person as of the last day of such Person’s most recently completed fiscal year or (ii) the Consolidated EBITDA
of such Person for such Person’s most recently completed fiscal year and (b) in addition, with respect to the Company, Capital
Corp.

 

“Special Interest” means all
additional interest owing on the Notes pursuant to the Registration Rights Agreement.

 

“Stated Maturity” means, with
respect to any installment of interest or principal on any series of Indebtedness, the date on which such payment of interest or principal
was scheduled to be paid in the documentation governing such Indebtedness on the Issue Date, or, if none, the original documentation governing
such Indebtedness, and shall 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” means, with respect
to any Person:

 

(1)          any
corporation, association or other business entity (A) of which at least 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at
the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person (or a combination
thereof) and (B) in the case of any such entity of which 50% of the total voting power of shares of Capital Stock is so owned or
controlled by such Person or one or more of the other Subsidiaries of such Person, such Person and its Subsidiaries also have the right
to control the management of such entity pursuant to contract or otherwise; and

 

    	 	-26-	 

     

    

 

(2)          any
partnership:

 

(a)          the
sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person, or

 

(b)          the
only general partners of which are such Person or of one or more Subsidiaries of such Person (or any combination thereof).

 

To the extent an entity satisfies clause (1)(A) above
and the referent Person owns no more than 50% of the total voting power of shares of Capital Stock of such entity, the Issuers may:

 

(i)            elect
to designate such entity as a “Subsidiary”; provided that, unless such entity is designated as an Unrestricted Subsidiary
in compliance with this Indenture, such designation shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of
any outstanding Indebtedness of such entity and such designation shall only be permitted if:

 

(1)          such
Indebtedness is not prohibited by Section 4.10, calculated on a pro forma basis as if such designation had occurred at the beginning
of the applicable reference period; and

 

(2)          no
Default or Event of Default would be in existence immediately following such designation;

 

and

 

(ii)          may
subsequently elect that such entity is not a “Subsidiary,” so long as such designation is not prohibited by Section 4.08.

 

For purposes of designating such an entity as not being a Subsidiary:

 

(1)          the
term “Investment” will include the portion (proportionate to CCO Holdings’ equity interest in such entity to be designated
as not being a Subsidiary) of the fair market value of the net assets of such entity at the time that such entity is designated as not
being a Subsidiary; provided, however, that upon a redesignation of such entity as a Subsidiary where the Investment of such Subsidiary
is then a Permitted Investment, CCO Holdings will be deemed to continue to have an “Investment” in a Person that is not a
Restricted Subsidiary in an amount (if positive) equal to (a) CCO Holdings’ Investment in such entity at the time of such redesignation
less (b) the portion (proportionate to CCO Holdings’ equity interest in such Subsidiary) of the fair market value of the net
assets (as conclusively determined by the Board of Directors of CCO Holdings in good faith) of such entity at the time that such entity
is so re-designated a Subsidiary; and

 

    	 	-27-	 

     

    

 

(2)          any
property transferred to or from the entity that has been designated as not being a Subsidiary will be valued at its fair market value
at the time of such transfer, in each case as determined in good faith by the Board of Directors of CCO Holdings.

 

Any designation of such an entity as not being
a Subsidiary of CCO Holdings shall be evidenced to the Trustee by filing with the Trustee a certified copy of the board resolution giving
effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding conditions
and was not prohibited by Section 4.08.

 

“Supplemental Indenture” has
the meaning assigned to it in the preamble to this Supplemental Indenture.

 

“Total Assets” means the total
assets of the Issuers and their Restricted Subsidiaries on a consolidated basis, as shown on the most recent balance sheet of the Issuers.

 

“Total Leverage Excess Proceeds”
has the meaning assigned to such term in the definition of “Applicable Percentage.”

 

“Treasury Rate” means, the weekly
average rounded to the nearest 1/100th of a percentage point (for the most recently completed week for which such information is available
as of the date that is two business days prior to the redemption date) of the yield to maturity of United States Treasury securities with
a constant maturity (as compiled and published in the Federal Reserve Statistical Release H.15 with respect to each applicable day during
such week (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly
equal to the period from the applicable redemption date to June 1, 2027, provided, however, that if the period from
the applicable redemption date is not equal to the constant maturity of a United States Treasury security for which such a yield is given,
the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average
yields of United States Treasury securities for which such yields are given except that if the period from the applicable redemption date
to June 1, 2027 is less than one year, the weekly average yield on actively traded United States Treasury Securities adjusted to
a constant maturity of one year shall be used.

 

“Unrestricted Global Note” means
a permanent Global Note substantially in the form of Exhibit A attached hereto that bears the Global Note Legend and that
has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf
of and registered in the name of the Depositary, representing the Initial Notes or any Additional Notes that do not bear the Private Placement
Legend.

 

“Unrestricted Subsidiary” means
(x) any Subsidiary of the Company that is designated by the Board of Directors of the Company or Charter as an Unrestricted Subsidiary
pursuant to a board resolution, but only to the extent that such Subsidiary at the time of designation:

 

(1)          except
to the extent not prohibited by Section 4.13, is not party to any agreement, contract, arrangement or understanding with the Company
or any Restricted Subsidiary unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the
Company or any Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company
unless such terms constitute Investments permitted under Section 4.08 and Permitted Investments or Asset Sales permitted under Section 4.11;
and

 

    	 	-28-	 

     

    

 

(2)          does
not own any Capital Stock of any Restricted Subsidiary of the Company; and

 

(y)          any
Subsidiary of an Unrestricted Subsidiary.

 

Any designation of a Subsidiary of the Company
as an Unrestricted Subsidiary shall be evidenced to the Trustee by filing with the Trustee a certified copy of the board resolution giving
effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding conditions
and was permitted by Section 4.08. The Board of Directors of the Company or Charter may at any time designate any Unrestricted Subsidiary
to be a Restricted Subsidiary; provided that such designation shall be deemed to be an incurrence of Indebtedness by a Restricted
Subsidiary of any outstanding Indebtedness of such Unrestricted Subsidiary and such designation shall only be permitted if:

 

(1)          such
Indebtedness is permitted under Section 4.10 calculated on a pro forma basis as if such designation had occurred at the beginning
of the applicable reference period; and

 

(2)          no
Default or Event of Default would be in existence immediately following such designation.

 

For purposes of designating a Restricted Subsidiary
as an Unrestricted Subsidiary:

 

(1)          the
term “Investment” will include the portion (proportionate to the Company’s equity interest in a Restricted Subsidiary
to be designated as an Unrestricted Subsidiary) of the fair market value of the net assets of such Restricted Subsidiary of the Company
at the time that such Restricted Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon a redesignation of
such Subsidiary as a Restricted Subsidiary where the Investment of such Subsidiary is then a Permitted Investment, the Company will be
deemed to continue to have an “Investment” in an Unrestricted Subsidiary in an amount (if positive) equal to (a) the
Company’s Investment in such Subsidiary at the time of such redesignation less (b) the portion (proportionate to CCO Holdings’
equity interest in such Subsidiary) of the fair market value of the net assets (as conclusively determined by the Board of Directors of
the Company in good faith) of such Subsidiary at the time that such Subsidiary is so re-designated a Restricted Subsidiary; and

 

(2)          any
property transferred to or from an Unrestricted Subsidiary will be valued at its fair market value at the time of such transfer, in each
case as determined in good faith by the Board of Directors of CCO Holdings.

 

“Voting Stock” of any Person
as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the board of directors or
comparable governing body of such Person.

 

    	 	-29-	 

     

    

 

“Weighted Average Life to Maturity”
means, when applied to any Indebtedness at any date, the number of years obtained by dividing:

 

(1)          the
sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other
required payments of principal, including payment at final maturity, in respect thereof, by (b) the number of years (calculated to
the nearest one-twelfth) that will elapse between such date and the making of such payment; by

 

(2)          the
then outstanding principal amount of such Indebtedness.

 

“Wholly Owned Restricted Subsidiary”
of any Person means a Restricted Subsidiary of such Person all of the outstanding common equity interests or other ownership interests
of which (other than directors’ qualifying shares) shall at the time be owned by such Person and/or by one or more Wholly Owned
Restricted Subsidiaries of such Person.

 

Section 1.02     Other
Definitions.

 

	Term	Defined

in Section
	“Affiliate Transaction”	4.13
	“Asset Sale Offer”	3.09
	“Authentication Order”	2.02
	“Change of Control Offer”	4.16
	“Change of Control Payment”	4.16
	“Change of Control Payment Date”	4.16
	“Covenant Defeasance”	8.03
	“Default Direction”	6.01
	“Directing Holder”	6.01
	“DTC”	2.03
	“Excess Proceeds”	4.11
	“Guaranteed Indebtedness”	4.17
	“incur”	4.10
	“Legal Defeasance”	8.02
	“Noteholder Direction”	6.01
	“Offer Amount”	3.09
	“Offer Period”	3.09
	“Paying Agent”	2.03
	“Permitted Debt”	4.10
	“Position Representation”	6.01
	“Purchase Date”	3.09
	“Registrar”	2.03
	“Restricted Payments”	4.07
	“Subsidiary Guarantee”	4.17
	“Verification Covenant”	6.01

 

    	 	-30-	 

     

    

 

Article 2

 

THE NOTES

 

With respect to the Notes only, Article 2
of the Base Indenture is hereby replaced with the following:

 

Section 2.01     Form and
Dating.

 

(a)          General.
The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. The
Notes may have notations, legends or endorsements required by law, stock exchange rule or usage or this Supplemental Indenture. Each
Note shall be dated the date of its authentication. The Notes shall be in minimum denominations of $2,000 and integral multiples of $1,000
in excess thereof.

 

The terms and provisions contained in the Notes
shall constitute, and are hereby expressly made, a part of this Supplemental Indenture and the Issuers and the Trustee, by their execution
and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent
any provision of any Note conflicts with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture
shall govern and be controlling.

 

(b)          Global
Notes. Notes issued in global form shall be substantially in the form of Exhibit A (including the Global Note Legend thereon
and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form shall be
substantially in the form of Exhibit A (without the Global Note Legend thereon and without the “Schedule of Exchanges
of Interests in the Global Note” attached thereto). Each Global Note shall represent such outstanding Notes as shall be specified
therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed
thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased,
as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease
in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee or the custodian, at the direction
of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06.

 

(c)          Form of
Initial Notes, Etc. All Initial Notes issued on the Issue Date are being or will be offered and sold by the Initial Purchasers only
(i) to QIBs (in which case they will be evidenced by one or more Rule 144A Global Notes) or (ii) in reliance on Regulation
S under the Securities Act (in which case they will be evidenced by one or more Regulation S Global Notes).

 

(d)          Euroclear
and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and “Terms
and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream” and “Customer
Handbook” of Clearstream (or, in each case, equivalent documents setting forth the procedures of Euroclear and Clearstream) shall
be applicable to transfers of beneficial interests in Regulation S Global Notes that are held by Participants through Euroclear or Clearstream.

 

    	 	-31-	 

     

    

 

Section 2.02     Execution
and Authentication.

 

Two Officers shall sign the Notes for each Issuer
by manual or facsimile signature.

 

If an Officer whose signature is on a Note no longer
holds that office at the time a Note is authenticated, the Note shall nevertheless be valid.

 

A Note shall not be valid until authenticated by
the manual or electronic signature (which may be by facsimile) of the Trustee. The signature shall be conclusive evidence that the Note
has been authenticated under this Supplemental Indenture.

 

At any time and from time to time after the execution
and delivery of this Supplemental Indenture, the Issuers may deliver Notes executed by the Issuers to the Trustee for authentication;
and the Trustee shall authenticate and deliver (i) Initial Notes for original issue in the aggregate principal amount of $1,000,000,000,
(ii) Additional Notes from time to time for original issue in aggregate principal amount specified by the Issuers and (iii) Exchange
Notes from time to time for issue in exchange for a like principal amount of Initial Notes or Additional Notes, in each case specified
in clauses (i) through (iii) above, upon a written order of the Issuers signed by an Officer of each Issuer (an “Authentication
Order”). Such Authentication Order shall specify the amount of Notes to be authenticated and the date on which the Notes are
to be authenticated, whether such Notes are to be Initial Notes, Additional Notes or Exchange Notes and whether the Notes are to be issued
as one or more Global Notes and such other information as the Issuers may include or the Trustee may reasonably request. The aggregate
principal amount of Notes which may be authenticated and delivered under this Supplemental Indenture is unlimited.

 

On the Issue Date, the Issuers will issue Initial
Notes in $1,000,000,000 aggregate principal amount in the form of one or more Rule 144A Global Notes and/or one or more Regulation
S Global Notes, as provided in Section 2.01(c). Any Notes offered and sold in reliance on the exemption from registration under the
Securities Act provided by Section 4(a)(2) thereunder or Rule 144A shall be issued as one or more Rule 144A Global
Notes. Any Notes offered and sold in offshore transactions in reliance on Regulation S shall be issued as one or more Regulation S Global
Notes.

 

The Trustee may appoint an authenticating agent
acceptable to the Issuers to authenticate Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference
in this Supplemental Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the
same rights as an Agent to deal with Holders or an Affiliate of the Issuers.

 

Section 2.03     Registrar
and Paying Agent.

 

The Issuers shall maintain an office or agency
in the Borough of Manhattan, the City of New York, where Notes may be presented for registration of transfer or for exchange (“Registrar”)
and an office or agency where Notes may be presented for payment (“Paying Agent”). Until otherwise designated by the
Issuers, the Issuers’ office or agency in New York shall be the office of the Trustee maintained for such purpose. The Registrar
shall keep the Register of the Notes and of their transfer and exchange. The Issuers may appoint one or more co-registrars and one or
more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent”
includes any additional paying agent. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Registrar
or Paying Agent may resign at any time upon not less than 10 Business Days’ prior written notice to the Issuers. The Issuers shall
enter into an appropriate agency agreement with any Agent not a party to this Supplemental Indenture. The Issuers shall notify the Trustee
in writing of the name and address of any Agent not a party to this Supplemental Indenture. The Company or any of its Subsidiaries may
act as Paying Agent or Registrar.

 

    	 	-32-	 

     

    

 

The Issuers initially appoint The Depository Trust
Company (“DTC”) to act as Depositary with respect to the Global Notes.

 

The Issuers initially appoint the Trustee to act
as the Registrar and Paying Agent and to act as custodian with respect to the Global Notes.

 

Section 2.04     Paying
Agent to Hold Money in Trust.

 

Principal of, premium, if any, and interest (including
Special Interest, if any) on the Notes will be payable at the office of the Paying Agent or, at the option of the Issuers, payment of
interest (including Special Interest, if any) may be made by check mailed to Holders at their respective addresses set forth in the Register;
provided, all payments of principal, premium, if any, and interest (including Special Interest, if any) with respect to the Notes
represented by one or more Global Notes registered in the name or held by the Depositary shall be made by wire transfer of immediately
available funds to accounts specified by the Holder prior to 10:00 a.m., New York time, on each due date of the principal and interest
on any Note. The Issuers shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in
trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest
(including Special Interest, if any) on the Notes, and shall notify the Trustee of any default by the Issuers in making any such payment.
While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuers at any
time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other
than an Issuer or a Subsidiary) shall have no further liability for the money. If an Issuer or a Subsidiary acts as Paying Agent, it shall
segregate and hold in a separate trust fund for the benefit of Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Issuers, the Trustee shall serve as Paying Agent for the Notes.

 

Section 2.05     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 all Holders. If the Trustee is not the
Registrar, the Issuers shall furnish to the Trustee at least seven Business Days before each interest payment date and at such other times
as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and
addresses of Holders.

 

    	 	-33-	 

     

    

 

Section 2.06     Transfer
and Exchange.

 

(a)           Transfer
and Exchange of Global Notes. A Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary,
by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to
a successor Depositary or a nominee of such successor Depositary. All Global Notes shall be exchanged by the Issuers for Definitive Notes
if:

 

(i)          the
Issuers deliver to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary or that it is
no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Issuers
within 120 days after the date of such notice from the Depositary;

 

(ii)          the
Issuers in their sole discretion determines that the Global Notes (in whole but not in part) should be exchanged for Definitive Notes
and deliver a written notice to such effect to the Trustee; or

 

(iii)         there
shall have occurred and be continuing a Default or Event of Default with respect to the Notes.

 

Upon the occurrence of any of the preceding events
in (i), (ii) or (iii) above, Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global
Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10. Every Note authenticated and delivered
in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10,
shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note
other than as provided in this Section 2.06(a); however, beneficial interests in a Global Note may be transferred and exchanged as
provided in Section 2.06(b), (c) or (f).

 

(b)           Transfer
and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall
be effected through the Depositary, in accordance with the provisions of this Supplemental Indenture and the Applicable Procedures. Beneficial
interests in Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth herein to the extent required
by the Securities Act. Prior to the expiration of the 40-day distribution compliance period set forth in Regulation S, beneficial interests
in any Regulation S Global Notes may be held only through Euroclear or Clearstream unless transferred in accordance with Section 2.06(b)(iii)(A).
Transfers of beneficial interests in the Global Notes also shall require compliance with either subparagraph (i) or (ii) below,
as applicable, as well as one or more of the other following subparagraphs, as applicable:

 

(i)          Transfer
of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons
who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions
set forth in the Private Placement Legend. Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required
to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(i).

 

    	 	-34-	 

     

    

 

(ii)          All
Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial
interests that are not subject to Section 2.06(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar
either:

 

(A)          a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing
the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest
to be transferred or exchanged; and

 

(B)          instructions
given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase;
or

 

(C)          a
written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing
the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged; and

 

(D)          instructions
given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered
to effect the transfer or exchange referred to in (A) above.

 

Upon consummation of an Exchange Offer by the Issuers
in accordance with Section 2.06(f), the requirements of this Section 2.06(b)(ii) shall be deemed to have been satisfied
upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests
in the Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global
Notes contained in this Supplemental Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust
the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h).

 

(iii)          Transfer
of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred
to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies
with the requirements of Section 2.06(b)(ii) above and the Registrar receives the following:

 

(A)          if
the transferee will take delivery in the form of a beneficial interest in the Rule 144A Global Note, then the transferor must deliver
a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and

 

(B)          if
the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the transferor must deliver
a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof.

 

    	 	-35-	 

     

    

 

(iv)         Transfer
and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial
interest in any Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in an Unrestricted Global Note
or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange
or transfer complies with the requirements of Section 2.06(b)(ii) above and:

 

(A)          such
exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights Agreement and the Holder of
the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person participating in the distribution of the relevant
Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Issuers;

 

(B)          such
transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)          such
transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

 

(D)          such
exchange or transfer is effected after the expiration of the 40-day distribution compliance period set forth in Regulation S and the Registrar
receives the following:

 

(1)          if
the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial interest
in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications
in item (1)(i) thereof; or

 

(2)          if
the Holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who shall
take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form
of Exhibit B hereto, including the certifications in item (4) thereof;

 

and, in each such case set forth in this subparagraph (D), if the Registrar
so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect
that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 

If any such transfer is effected pursuant to subparagraph
(B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Issuers shall issue and, upon receipt
of an Authentication Order in accordance with Section 2.02, the Trustee shall authenticate one or more Unrestricted Global Notes
in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph
(B) or (D) above.

 

    	 	-36-	 

     

    

 

 

Beneficial interests in an Unrestricted Global
Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted
Global Note.

 

(c)           Transfer
or Exchange of Beneficial Interests for Definitive Notes.

 

(i)            Beneficial
Interests in Restricted Global Notes to Restricted Definitive Notes. If any Holder of a beneficial interest in a Restricted Global
Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person
who takes delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation:

 

(A)            if
the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive
Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(i) thereof
(provided that any such beneficial interest in Regulation S Global Note shall not be so exchangeable until after the expiration
of the 40-day distribution compliance period set forth in Regulation S);

 

(B)            if
such beneficial interest is being transferred to a QIB in accordance with Rule 144A under the Securities Act, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;

 

(C)            if
such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904
under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item
(2) thereof;

 

(D)            if
such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance
with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications
in item (3)(i) thereof;

 

(E)            if
such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect
set forth in Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3)(iv) thereof,
if applicable;

 

(F)            if
such beneficial interest is being transferred to the Issuers, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(ii) thereof; or

 

(G)            if
such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (3)(iii) thereof,

 

    	 	-37-	 

     

    

 

the Trustee shall cause the aggregate principal amount of the applicable
Global Note to be reduced accordingly pursuant to Section 2.06(h), and the Issuers shall execute and the Trustee shall authenticate
and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued
in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such
name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall instruct the Registrar
through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes
to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted
Global Note pursuant to this Section 2.06(c)(i) shall bear the Private Placement Legend and shall be subject to all restrictions
on transfer contained therein.

 

(ii)            Beneficial
Interests in Restricted Global Notes to Unrestricted Definitive Notes. A Holder of a beneficial interest in a Restricted Global Note
may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes
delivery thereof in the form of an Unrestricted Definitive Note only if:

 

(A)            such
exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights Agreement and the Holder of
such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter
of Transmittal that it is not (1) a broker-dealer, (2) a Person participating in the distribution of the relevant Exchange Notes
or (3) a Person who is an affiliate (as defined in Rule 144) of the Issuers;

 

(B)            such
transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)            such
transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

 

(D)            such
exchange or transfer is effected after the expiration of the 40-day distribution compliance period set forth in Regulation S and the Registrar
receives the following:

 

(1)            if
the Holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Definitive Note
that does not bear the Private Placement Legend, a certificate from such Holder in the form of Exhibit C hereto, including
the certifications in item (1)(ii) thereof; or

 

(2)            if
the Holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a Person who shall
take delivery thereof in the form of a Definitive Note that does not bear the Private Placement Legend, a certificate from such Holder
in the form of Exhibit B hereto, including the certifications in item (4) thereof;

 

    	 	-38-	 

     

    

 

and, in each such case set forth in this subparagraph (D), if the Registrar
so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect
that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 

(iii)           Beneficial
Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any Holder of a beneficial interest in an Unrestricted
Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who
takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(ii),
the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h),
and the Issuers shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive
Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iii) shall
be registered in such name or names and in such authorized denomination or denominations as the Holder of such beneficial interest shall
instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver
such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(iii) shall not bear the Private Placement Legend.

 

(d)           Transfer
and Exchange of Definitive Notes for Beneficial Interests in Global Notes.

 

(i)            Restricted
Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes to exchange
such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes
delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following
documentation:

 

(A)            if
the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a
certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(ii) thereof;

 

(B)            if
such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A under the Securities Act, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;

 

(C)            if
such Restricted Definitive Note is being transferred to a Non- U.S. Person in an offshore transaction in accordance with Rule 903
or Rule 904 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications
in item (2) thereof;

 

    	 	-39-	 

     

    

 

(D)            if
such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the Securities Act
in accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(i) thereof;

 

(E)            if
such Restricted Definitive Note is being transferred to an Institutional Accredited Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect
set forth in Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3)(iv) thereof,
if applicable;

 

(F)            if
such Restricted Definitive Note is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth
in Exhibit B hereto, including the certifications in item (3)(ii) thereof; or

 

(G)            if
such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate
to the effect set forth in Exhibit B hereto, including the certifications in item (3)(iii) thereof,

 

the Trustee shall cancel the Restricted Definitive Note, increase or
cause to be increased the aggregate principal amount of, in the case of subparagraph (A) above, the appropriate Restricted Global
Note, in the case of subparagraph (B) above, the Rule 144A Global Note or, in the case of subparagraph (C) above, the Regulation
S Global Note.

 

(ii)            Restricted
Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Definitive Note may exchange such
Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery
thereof in the form of a beneficial interest in an Unrestricted Global Note only if:

 

(A)            such
exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in
the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not
(1) a broker-dealer, (2) a Person participating in the distribution of the relevant Exchange Notes or (3) a Person who
is an affiliate (as defined in Rule 144) of the Issuers;

 

(B)            such
transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)            such
transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights
Agreement; or

 

(D)            such
exchange or transfer is effected after the expiration of the 40-day distribution compliance period set forth in Regulation S and the Registrar
receives the following:

 

    	 	-40-	 

     

    

 

(1)            if
the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted Global Note, a certificate
from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(iii) thereof; or

 

(2)            if
the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of a beneficial
interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications
in item (4) thereof;

 

and, in each such case set forth in this subparagraph (D), if the Registrar
so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect
that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 

Upon satisfaction of the conditions of any of the subparagraphs in
this Section 2.06(d)(ii), the Trustee shall cancel the Definitive Notes and increase or cause to be increased the aggregate principal
amount of the Unrestricted Global Note.

 

(iii)            Unrestricted
Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange such
Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof
in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer,
the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount
of one of the Unrestricted Global Notes.

 

If any such exchange or transfer from a Definitive
Note to a beneficial interest is effected pursuant to subparagraph (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted
Global Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02,
the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of
Definitive Notes so transferred.

 

(e)            Transfer
and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance
with the provisions of this Section 2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to
such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly
endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by
its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and
information, as applicable, required pursuant to the following provisions of this Section 2.06(e):

 

    	 	-41-	 

     

    

 

(i)            Restricted
Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of
Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following:

 

(A)            if
the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a certificate in the form
of Exhibit B hereto, including the certifications in item (1) thereof;

 

(B)            if
the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications in item (2) thereof; and

 

(C)            if
the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel
required by item (3) thereof, if applicable.

 

(ii)            Restricted
Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted
Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if:

 

(A)            such
exchange or transfer is effected pursuant to an Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in
the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not
(1) a broker-dealer, (2) a Person participating in the distribution of the relevant Exchange Notes or (3) a Person who
is an affiliate (as defined in Rule 144) of the Issuers;

 

(B)            any
such transfer is effected pursuant to a Shelf Registration Statement in accordance with the Registration Rights Agreement;

 

(C)            any
such transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with the Registration
Rights Agreement; or

 

(D)            such
exchange or transfer is effected after the expiration of the 40-day distribution compliance period set forth in Regulation S and the Registrar
receives the following:

 

(1)            if
the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a certificate from
such Holder in the form of Exhibit C hereto, including the certifications in item (1)(iv) thereof; or

 

(2)            if
the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form
of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications
in item (4) thereof;

 

    	 	-42-	 

     

    

 

and, in each such case set forth in this
subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Issuers to the effect that
such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private
Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 

(iii)           Unrestricted
Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who
takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar
shall register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof.

 

(f)            Exchange
Offer. Upon the occurrence of an Exchange Offer in accordance with the Registration Rights Agreement, the Issuers shall issue and,
upon receipt of an Authentication Order in accordance with Section 2.02, the Trustee shall authenticate (i) one or more Unrestricted
Global Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in the Restricted Global Notes
tendered for acceptance by Persons that certify in the applicable Letters of Transmittal that (x) they are not broker-dealers, (y) they
are not participating in a distribution of the relevant Exchange Notes and (z) they are not affiliates (as defined in Rule 144)
of the Issuers, and accepted for exchange in the relevant Exchange Offer and (ii) Definitive Notes in an aggregate principal amount
equal to the principal amount of the Restricted Definitive Notes accepted for exchange in the relevant Exchange Offer. Concurrently with
the issuance of such Notes, the Trustee shall cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced
accordingly, and the Issuers shall execute and the Trustee shall authenticate and deliver to the Persons designated by the Holders of
Definitive Notes so accepted Definitive Notes in the appropriate principal amount.

 

(g)           Legends.
The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Supplemental Indenture unless
specifically stated otherwise in the applicable provisions of this Supplemental Indenture:

 

(i)            Private
Placement Legend.

 

(A)            Except
as permitted by subparagraph (B) below, each Restricted Global Note and each Definitive Note (and all Notes issued in exchange therefor
or substitution thereof) shall bear the legend in substantially the following form:

 

THE NOTE (OR ITS PREDECESSOR) EVIDENCED
HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”), AND THE NOTE EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN
THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE NOTES EVIDENCED HEREBY IS HEREBY NOTIFIED
THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A
THEREUNDER. THE HOLDER OF THE NOTES EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUERS THAT (A) SUCH SECURITY MAY BE RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) (A) TO A PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144 UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
904 UNDER THE SECURITIES ACT, OR (D) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
(AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUERS SO REQUEST), (II) TO THE ISSUERS OR ANY OF THEIR RESPECTIVE SUBSIDIARIES, OR
(III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED
TO, NOTIFY ANY PURCHASER FROM IT OF THE NOTES EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION
CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE NOTE EVIDENCED HEREBY.

 

    	 	-43-	 

     

    

 

(B)            Notwithstanding
the foregoing, any Initial Note and any Global Note or Definitive Note issued pursuant to subparagraph (b)(iv), (c)(ii), (c)(iii), (d)(ii),
(d)(iii), (e)(ii), (e)(iii) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof)
shall not bear the Private Placement Legend.

 

(ii)            Global
Note Legend. Each Global Note shall bear a legend in substantially the following form:

 

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY
(AS DEFINED IN THE SUPPLEMENTAL INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF,
AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED
TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE SUPPLEMENTAL INDENTURE AND (4) THIS GLOBAL NOTE MAY BE
TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR
BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK 10004) (“DTC”), TO EACH ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

    	 	-44-	 

     

    

 

(iii)           Regulation
S Legend. Each Regulation S Global Note should bear a legend in substantially the following form:

 

THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY
ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE
MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT.

 

(h)           Cancellation
and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive
Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section 2.11. At any time prior to such cancellation, if any
beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced
accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof
in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement
shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.

 

    	 	-45-	 

     

    

 

(i)            General
Provisions Relating to Transfers and Exchanges.

 

(i)            To
permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Global Notes and Definitive
Notes upon the Issuers’ order or at the Registrar’s request.

 

(ii)            No
service charge shall be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration
of transfer or exchange, but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant
to Sections 2.10, 3.09, 4.11 and 4.16 hereof and Section 9.05 of the Base Indenture).

 

(iii)           The
Registrar shall not be required to register the transfer of or exchange any Note selected for redemption in whole or in part, except the
unredeemed portion of any Note being redeemed in part.

 

(iv)           All
Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the
valid obligations of the Issuers, evidencing the same debt, and entitled to the same benefits under this Supplemental Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 

(v)            The
Issuers shall not be required to register the transfer of or to exchange a Note between a record date and the next succeeding interest
payment date.

 

(vi)           Prior
to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuers may deem and treat the Person
in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest
(including Special Interest, if any) on such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuers shall
be affected by notice to the contrary.

 

(vii)          The
Trustee shall authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02.

 

(viii)         All
certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect
a registration of transfer or exchange may be submitted by facsimile.

 

(ix)            Each
Holder of a Note agrees to indemnify the Issuers and the Trustee against any liability that may result from the transfer, exchange or
assignment of such Holder’s Note in violation of any provision of this Supplemental Indenture and/or applicable United States Federal
or state securities law.

 

(x)            The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Supplemental Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers
between or among Depositary Participants or Beneficial Owners of interests in any Global Note) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms
of, this Supplemental Indenture, and to examine the same to determine substantial compliance as to form with the express requirements
hereof.

 

    	 	-46-	 

     

    

 

(xi)            Neither
the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary.

 

(xii)           Notwithstanding
anything contained herein, any transfers, replacements or exchanges of Notes, including as contemplated in this Article 2, shall
not be deemed to be an incurrence of Indebtedness.

 

Section 2.07           Replacement
Notes.

 

If any mutilated Note is surrendered to the Trustee
or the Issuers and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuers shall
issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee’s requirements
are met. If required by the Trustee or the Issuers, an indemnity bond must be supplied by the Holder that is sufficient in the judgment
of the Trustee and the Issuers to protect the Issuers, the Trustee, any Agent and any authenticating agent from any loss that any of
them may suffer if a Note is replaced. The Issuers may charge for their expenses in replacing a Note.

 

Every replacement Note is an additional legally
binding obligation of the Issuers and shall be entitled to all of the benefits of this Supplemental Indenture equally and proportionately
with all other Notes duly issued hereunder.

 

Section 2.08           Outstanding
Notes.

 

The Notes outstanding at any time are all the Notes
authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest
in a Global Note effected by the Trustee in accordance with the provisions of this Supplemental Indenture, and those described in this
Section 2.08 as not outstanding. Except as set forth in Section 2.09, a Note does not cease to be outstanding because the Company
or an Affiliate of the Company holds the Note.

 

If a Note is replaced pursuant to Section 2.07,
it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser.

 

If the principal amount of any Note is considered
paid under Section 4.01 of the Base Indenture, it ceases to be outstanding and interest on it ceases to accrue.

 

If the Paying Agent (other than an Issuer, a Subsidiary
or an Affiliate of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then
on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest.

 

    	 	-47-	 

     

    

 

Section 2.09           Treasury
Notes.

 

In determining whether the Holders of the required
principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuers, or by any Person directly or
indirectly controlled by or under direct or indirect common control with the Issuers, shall be considered as though not outstanding,
except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent,
only Notes that a Responsible Officer of the Trustee knows are so owned shall be so disregarded.

 

Section 2.10           Temporary
Notes.

 

Until certificates representing Notes are ready
for delivery, the Issuers may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary
Notes shall be substantially in the form of certificated Notes but may have variations that the Issuers consider appropriate for temporary
Notes and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Issuers shall prepare and the Trustee shall
authenticate Definitive Notes in exchange for temporary Notes.

 

Holders of temporary Notes shall be entitled to
all of the benefits of this Supplemental Indenture.

 

Section 2.11           Cancellation.

 

The Issuers at any time may deliver Notes to the
Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to them for registration
of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange,
payment, replacement or cancellation and shall dispose of such canceled Notes in its customary manner. The Issuers may not issue new
Notes to replace Notes that they have paid or that have been delivered to the Trustee for cancellation.

 

Section 2.12           Defaulted
Interest.

 

If the Issuers default in a payment of interest
(including Special Interest, if any) on the Notes, the Issuers shall pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, which interest on defaulted interest shall accrue until the defaulted interest is
deemed paid hereunder, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes
and in Section 4.01 of the Base Indenture. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed
to be paid on each Note and the date of the proposed payment. The Issuers shall fix or cause to be fixed each such special record date
and payment date; provided that no such special record date shall be less than 10 days prior to the related payment date for such
defaulted interest. At least 15 days before the special record date, the Issuers (or, upon the written request of the Issuers, the Trustee
in the name and at the expense of the Issuers) shall mail or cause to be mailed to Holders a notice that states the special record date,
the related payment date and the amount of such interest to be paid.

 

    	 	-48-	 

     

    

 

Section 2.13           CUSIP
Numbers.

 

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

 

Article 3

 

REDEMPTION AND PREPAYMENT

 

With respect to the Notes only, Article 3
of the Base Indenture is hereby replaced with the following:

 

Section 3.01           Notices
to Trustee.

 

If the Issuers elect to redeem Notes pursuant
to the optional redemption provisions of Section 3.07, it shall furnish to the Trustee, at least 10 days but not more than 60 days
before a redemption date, an Officers’ Certificate setting forth (i) the clause of this Supplemental Indenture pursuant to
which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of Notes to be redeemed and (iv) the
redemption price.

 

Section 3.02           Selection
of Notes to Be Redeemed.

 

If less than all of the Notes are to be redeemed
at any time, the Trustee shall select the Notes for redemption, on a pro rata basis, by lot or in accordance with any other method
as the Trustee shall deem appropriate, or if the Notes are held in global form, the Notes shall be selected for redemption by the Depositary
in accordance with its applicable procedures.

 

In the event of partial redemption by lot, the
particular Notes to be redeemed shall be selected, unless otherwise provided herein, not less than 10 nor more than 60 days prior to
the redemption date by the Trustee from the outstanding Notes not previously called for redemption.

 

The Trustee shall promptly notify the Issuers
in writing of the Notes selected for redemption and, in the case of any Note selected for partial redemption, the principal amount thereof
to be redeemed. Notes and portions of Notes selected shall be in amounts of $2,000 or whole multiples of $1,000 in excess thereof; except
that if all of a Holder’s Notes are to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple
of $1,000, shall be redeemed. Except as provided in the preceding sentence, provisions of this Supplemental Indenture that apply to Notes
called for redemption also apply to portions of Notes called for redemption.

 

    	 	-49-	 

     

    

 

Section 3.03           Notice
of Redemption.

 

Subject to the provisions of Section 3.09,
at least 10 days but not more than 60 days before a redemption date, the Issuers shall transmit or cause to be transmitted, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address.

 

The notice shall identify the Notes to be redeemed
and shall state:

 

(a)           the
redemption date;

 

(b)           the
redemption price;

 

(c)            if
any Note is being redeemed in part only, the portion of the principal amount of such Note to be redeemed and that, after the redemption
date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation
of the original Note;

 

(d)           the
name and address of the Paying Agent;

 

(e)           that
Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(f)            that,
unless the Issuers default in making such redemption payment, interest on Notes called for redemption and redeemed ceases to accrue on
and after the redemption date;

 

(g)           the
paragraph of the Notes and/or Section of this Supplemental Indenture pursuant to which the Notes called for redemption are being
redeemed;

 

(h)           that
no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes;
and

 

(i)            any
conditions to the Issuers’ obligations to redeem the Notes as contemplated by Section 3.04.

 

At the Issuers’ request, the Trustee shall
give the notice of redemption in the Issuers’ name and at its expense; provided, however, that the Issuers shall have
delivered to the Trustee, at least 5 days prior to the notice date (or such shorter period as to which the Trustee may agree in its sole
discretion), an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated
in such notice as provided in the preceding paragraph.

 

Section 3.04           Effect
of Notice of Redemption.

 

Once notice of redemption is transmitted in accordance
with Section 3.03, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price;
provided that any redemption or notice of any redemption may, at the Issuers’ discretion, be given prior to the completion
of a transaction or event (including an Equity Offering, other offering, issuance of Indebtedness, Change of Control or other transaction
or event) and any redemption notice (including the amount of Notes redeemed and conditions precedent applicable to different amounts of
Notes redeemed) may, in the Issuers’ discretion, be subject to one or more conditions precedent, including, but not limited to,
completion of the related transaction or event. Any such redemption may be partial as a result of only some of the conditions being satisfied.

 

    	 	-50-	 

     

    

 

If such redemption or notice is subject to satisfaction
of one or more conditions precedent, such notice shall state that, in the Issuers’ discretion, the redemption date may be delayed
until such time (including more than 60 days after the date the notice of redemption was mailed or delivered, including by electronic
transmission) as any or all such conditions shall be satisfied (or waived by the Issuers in their sole discretion), or such redemption
may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied (or waived by
the Issuers in their sole discretion) by the redemption date, or by the redemption date so delayed. In addition, the Issuers may provide
in such notice that payment of the redemption price and performance of the Issuers’ obligations with respect to such redemption
may be performed by another Person.

 

Section 3.05           Deposit
of Redemption Price.

 

At or prior to 10:00 a.m., New York City time,
on the redemption date, the Issuers shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption price
of and accrued interest (including Special Interest, if any) on all Notes to be redeemed on that date. The Trustee or the Paying Agent
shall promptly return to the Issuers any money deposited with the Trustee or the Paying Agent by the Issuers in excess of the amounts
necessary to pay the redemption price of, and accrued interest (including Special Interest, if any) on, all Notes to be redeemed.

 

If the Issuers comply with the provisions of the
preceding paragraph, on and after the redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for
redemption. If a Note is redeemed on or after an interest record date but on or prior to the related interest payment date, then any accrued
and unpaid interest (including Special Interest, if any) shall be paid to the Person in whose name such Note was registered at the close
of business on such record date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure
of the Issuers to comply with the preceding paragraph, interest (including Special Interest, if any) shall be paid on the unpaid principal,
from the redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in
each case at the rate provided in the Notes and in Section 4.01 of the Base Indenture.

 

Section 3.06           Notes
Redeemed in Part.

 

No Notes of $2,000 principal amount or less shall
be redeemed in part. Upon surrender of a Note that is redeemed in part, the Issuers shall issue and, upon the Issuers’ written request,
the Trustee shall authenticate for the Holder at the expense of the Issuers a new Note equal in principal amount to the unredeemed portion
of the Note surrendered.

 

    	 	-51-	 

     

    

 

 

Section 3.07     Optional
Redemption.

 

(a)            Except
as set forth in Sections 3.07(b), (c) and (d), the Issuers shall not have the option to redeem the Notes pursuant to this Section 3.07
prior to June 1, 2027. The Issuers shall have the option to redeem the Notes, from and after June 1, 2027, in whole or in part,
upon not less than 10 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount of the
Notes) set forth below plus accrued and unpaid interest thereon and Special Interest, if any, to the applicable redemption date, if redeemed
during the twelve-month period beginning on June 1 of the years indicated below:

 

	Year	 	 	Percentage	 
	2027	 	 	 	102.250	%
	2028	 	 	 	101.125	%
	2029	 	 	 	100.563	%
	2030 and thereafter	 	 	 	100.000	%

 

(b)            At
any time prior to June 1, 2024, the Issuers may on any one or more occasions redeem up to 40% of the aggregate principal amount of
the Notes (including the principal amount of any Additional Notes), at a redemption price of 104.500% of the principal amount thereof,
plus accrued and unpaid interest and Special Interest, if any, to the redemption date, with the net cash proceeds of one or more Equity
Offerings; provided that:

 

(i)            at
least 50% of the original aggregate principal amount of Notes (including the principal amount of any Additional Notes) issued under this
Supplemental Indenture remains outstanding immediately after the occurrence of such redemption, unless all such Notes are redeemed substantially
concurrently; and

 

(ii)            the
redemption must occur within 180 days of the date of the closing of such Equity Offering.

 

(c)            At
any time and from time to time prior to June 1, 2027, the Issuers may redeem outstanding Notes, in whole or in part, at a redemption
price equal to 100% of the principal amount thereof plus accrued and unpaid interest and Special Interest, if any, on such Notes
to the redemption date plus the Make-Whole Premium. The Trustee shall have no responsibility for calculating the Make-Whole Premium.

 

(d)            Notwithstanding
the foregoing, in connection with any tender offer for the Notes, including a Change of Control Offer or Asset Sale Offer, if Holders
of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in such tender
offer and the Issuers, or any third party making a such tender offer in lieu of the Issuers, purchases all of the Notes validly tendered
and not withdrawn by such Holders, the Issuers or such third party will have the right upon not less than 10 nor more than 60 days’
prior notice, given not more than 30 days following such purchase date, to redeem all Notes that remain outstanding following such purchase
at a redemption price equal to the price offered to each other Holder in such tender offer plus, to the extent not included in the tender
offer payment, accrued and unpaid interest, if any, thereon, to, but not including, the date of such redemption.

 

    	 	-52-	 

     

    

 

Any redemption pursuant to this Section 3.07
shall be made pursuant to the provisions of Section 3.01 through 3.06.

 

Section 3.08     Mandatory
Redemption.

 

Except as otherwise provided in Section 4.11
or Section 4.16 below, the Issuers shall not be required to make mandatory redemption payments with respect to the Notes.

 

Section 3.09     Offer
to Purchase by Application of Excess Proceeds.

 

In the event that the Issuers shall be required
to commence an offer to all Holders to purchase Notes pursuant to Section 4.11 (an “Asset Sale Offer”), they shall
follow the procedures specified below.

 

The Asset Sale Offer shall remain open for a period
of 20 Business Days following its commencement and no longer, except to the extent that a longer period is required by applicable law
(the “Offer Period”). No later than five Business Days after the termination of the Offer Period (the “Purchase
Date”), the Issuers shall purchase the principal amount of Notes required to be purchased pursuant to Section 4.11 (the
 “Offer Amount”) or, if less than the Offer Amount has been tendered, all Notes tendered in response to the Asset Sale
Offer. Payment for any Notes so purchased shall be made in the same manner as interest payments are made. Unless the Issuers default in
making such payment, any Note accepted for payment pursuant to the Asset Sale Offer shall cease to accrue interest after the Purchase
Date.

 

If the Purchase Date is on or after an interest
record date and on or before the related interest payment date, any accrued and unpaid interest shall be paid to the Person in whose name
a Note is registered at the close of business on such record date, and no Special Interest shall be payable to Holders who tender Notes
pursuant to the Asset Sale Offer.

 

Upon the commencement of an Asset Sale Offer the
Issuers shall send, by first class mail, a notice to the Trustee and each of the Holders, with a copy to the Trustee. The notice shall
contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The Asset Sale
Offer shall be made to all Holders. The notice, which shall govern the terms of the Asset Sale Offer, shall state:

 

(a)            that
the Asset Sale Offer is being made pursuant to this Section 3.09 and Section 4.11 and the length of time the Asset Sale Offer
shall remain open;

 

(b)            the
Offer Amount, the purchase price and the Purchase Date;

 

(c)            that
any Note not tendered or accepted for payment shall continue to accrue interest;

 

(d)            that,
unless the Issuers default in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer shall cease to accrue
interest after the Purchase Date;

 

    	 	-53-	 

     

    

 

(e)            that
Holders electing to have a Note purchased pursuant to an Asset Sale Offer may elect to have Notes purchased in minimum denominations of
$2,000 and in multiple integrals of $1,000 in excess thereof only;

 

(f)            that
Holders electing to have a Note purchased pursuant to any Asset Sale Offer shall be required to surrender the Note, with the form entitled
 “Option of Holder to Elect Purchase” on the reverse of the Note completed, or transfer the Note by book-entry transfer, to
the Issuers, the Depositary or the Paying Agent at the address specified in the notice at least three days before the Purchase Date;

 

(g)            that
Holders shall be entitled to withdraw their election if the Issuers, the Depositary or the Paying Agent, as the case may be, receives,
not later than the expiration of the Offer Period, a facsimile transmission or letter setting forth the name of the Holder, the principal
amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased;

 

(h)            that,
if the aggregate principal amount of Notes surrendered by Holders exceeds the Offer Amount, the Issuers shall select the Notes to be purchased
on a pro rata basis (with such adjustments as may be deemed appropriate by the Issuers so that only Notes in minimum denominations
of $2,000 or integral multiples of $1,000 in excess thereof, shall be purchased); and

 

(i)            that
Holders whose Notes were purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the
Notes surrendered (or transferred by book-entry transfer).

 

On or before the Purchase Date, the Issuers shall,
to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof
tendered pursuant to the Asset Sale Offer or if less than the Offer Amount has been tendered, all Notes tendered, and shall deliver to
the Trustee an Officers’ Certificate stating that such Notes or portions thereof were accepted for payment by the Issuers in accordance
with the terms of this Section 3.09. The Issuers, the Depositary or the Paying Agent, as the case may be, shall promptly (but in
any case not later than five days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to the purchase price
of the Notes tendered by such Holder and accepted by the Issuers for purchase, and the Issuers shall promptly issue a new Note, and the
Trustee, upon written request from the Issuers, shall authenticate and mail or deliver such new Note to such Holder, in a principal amount
equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Issuers
to the Holder thereof. The Issuers shall publicly announce the results of the Asset Sale Offer on the Purchase Date.

 

Other than as specifically provided in this Section 3.09,
any purchase pursuant to this Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06.

 

    	 	-54-	 

     

    

 

Article 4

 

COVENANTS

 

With respect to the Notes only, each Issuer hereby
agrees to expressly subject itself to the provisions of Article 4 of the Base Indenture and the following Sections 4.03 through 4.19
are hereby added to Article 4 of the Base Indenture:

 

Section 4.03     Reports.

 

Whether or not required by the Commission, so long
as any Notes are outstanding, the Issuers shall furnish to Holders and the Trustee, within the time periods specified in the Commission’s
rules and regulations:

 

(1)       all
quarterly and annual financial information that would be required to be contained in a filing with the Commission on Forms 10-Q and 10-K
if the Issuers were required to file such forms, including a “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” section and, with respect to the annual information only, a report on the annual consolidated financial
statements of the Company by its independent public accountants; and

 

(2)       all
current reports that would be required to be filed with the Commission on Form 8-K if the Issuers were required to file such reports.

 

If the Company has designated any of its Subsidiaries
as Unrestricted Subsidiaries, then the quarterly and annual financial information required by the preceding paragraph shall include a
reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in Management’s
Discussion and Analysis of Financial Condition and Results of Operations, of the financial condition and results of operations of the
Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries
of the Company. Such information may be provided by the Issuers in filings with the Securities and Exchange Commission, which filing shall
satisfy the obligations set forth above.

 

Notwithstanding anything to the contrary set forth
above, for so long as the Issuers are direct or indirect majority-owned Subsidiaries of any Parent (or other Person which, directly or
indirectly, owns a majority of the outstanding Voting Stock of the Issuers, measured by voting power rather than the number of shares),
if such Parent (or such other Person which, directly or indirectly, owns a majority of the Voting Stock of the Issuers, measured by voting
power rather than the number of shares) has furnished Holders the reports described in the preceding paragraphs with respect to such Parent
(or such other Person which, directly or indirectly, owns a majority of the outstanding Voting Stock of the Issuers, measured by voting
power rather than the number of shares) (including any consolidating financial information required by Regulation S-X relating to the
Issuers), the Issuers shall be deemed to be in compliance with the provisions of this Section 4.03. Such information may be provided
by a Parent in filings with the Securities and Exchange Commission, which filing shall satisfy the obligations set forth in this paragraph.

 

    	 	-55-	 

     

    

 

Delivery of such reports, information and documents
to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of
any information contained therein or determinable from information contained therein, including the Issuers’ compliance with any
of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

 

Section 4.04     Compliance
Certificate.(a)     The Issuers shall deliver to the Trustee, within
90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Issuers and their
Subsidiaries during the preceding fiscal year have been made under the supervision of the signing Officers with a view to determining
whether the Issuers have kept, observed, performed and fulfilled their obligations under this Supplemental Indenture and the Base Indenture,
and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Issuers have kept,
observed, performed and fulfilled each and every covenant contained in this Supplemental Indenture and are not in default in the performance
or observance of any of the terms, provisions and conditions of this Supplemental Indenture (or, if a Default or Event of Default shall
have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Issuers are
taking or propose to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence
by reason of which payments on account of the principal of or interest, if any (including Special Interest, if any), on the Notes is prohibited
or if such event has occurred, a description of the event and what action the Issuers are taking or propose to take with respect thereto.

 

(b)            The
Issuers shall, so long as any of the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware of any Default
or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Issuers are taking
or propose to take with respect thereto.

 

Section 4.05     Taxes.

 

The Company shall pay, and shall cause each of
its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in
good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to Holders.

 

Section 4.06     Stay,
Extension and Usury Laws.

 

Each of the Issuers covenants (to the extent that
it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage
of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance
of this Supplemental Indenture; and each of the Issuers (to the extent that it may lawfully do so) hereby expressly waives all benefit
or advantage of any such law, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any
power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law has been enacted.

 

    	 	-56-	 

     

    

 

Section 4.07     Restricted
Payments.

 

The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, directly or indirectly:

 

(a)            declare
or pay any dividend or make any other payment or distribution on account of its or any of its Restricted Subsidiaries’ Equity Interests
(including, without limitation, any payment in connection with any merger or consolidation involving the Company or any of its Restricted
Subsidiaries) or to the direct or indirect holders of the Company’s or any of its Restricted Subsidiaries’ Equity Interests
in their capacity as such (other than dividends or distributions payable (x) solely in Equity Interests (other than Disqualified
Stock) of the Company or (y) in the case of the Company and its Restricted Subsidiaries, to the Company or a Restricted Subsidiary
thereof);

 

(b)            purchase,
redeem or otherwise acquire or retire for value (including, without limitation, in connection with any merger or consolidation involving
the Company or any of its Restricted Subsidiaries) any Equity Interests of the Company or any direct or indirect Parent of the Company
or any Restricted Subsidiary of the Company (other than, in the case of the Company and its Restricted Subsidiaries, any such Equity Interests
owned by the Company or any of its Restricted Subsidiaries); or

 

(c)            make
any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value, any Indebtedness of the Company
(other than intercompany Indebtedness among the Company and its Restricted Subsidiaries that is permitted to be incurred under this Supplemental
Indenture) that is subordinated to the Notes, except a payment of interest or principal at the Stated Maturity thereof (all such payments
and other actions set forth in clauses (a) through (c) above being collectively referred to as “Restricted Payments”),
unless, at the time of and after giving effect to such Restricted Payment:

 

(1)       no
Default or Event of Default under this Indenture shall have occurred and be continuing or would occur as a consequence thereof;

 

(2)       the
Company would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment had
been made at the beginning of the applicable quarter period, have been permitted to incur at least $1.00 of additional Indebtedness pursuant
to the Leverage Ratio test set forth in the first paragraph of Section 4.10; and

 

(3)       such
Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Restricted Subsidiaries
from and after April 1, 2010 (excluding Restricted Payments permitted by clauses (2) through (17) of the next succeeding paragraph
and made on or after April 1, 2010), shall not exceed, at the date of determination, the sum of:

 

(a)       an
amount equal to 100% of the Consolidated EBITDA of the Company for the period beginning on the first day of the fiscal quarter commencing
April 1, 2010 to the end of the Company’s most recently ended full fiscal quarter for which internal financial statements are
available, taken as a single accounting period, less the product of 1.3 times the Consolidated Interest Expense of the Company
for such period, plus

 

    	 	-57-	 

     

    

 

(b)       an
amount equal to 100% of Capital Stock Sale Proceeds (reduced for purpose of this clause (b) by (A) any amount of such Capital
Stock Sale Proceeds (i) used in connection with an Investment made on or after the Issue Date pursuant to clause (5) of the
definition of “Permitted Investments,” (ii) applied to make a Restricted Payment pursuant to clause (2) or sub-clause
(y)(2) of clause (9) or clause (14) below, or (iii) relied upon for purposes of incurring Contribution Indebtedness and
(B) the amount of Restricted Payments made pursuant to sub-clause (A)(i), (B) or (C) of clause (8) and sub-clause
(y)(1) of clause (9) below, in each case, by an amount not to exceed the amount of Capital Stock Sale Proceeds from any Charter
Subsidiary Refinancing Indebtedness or Charter Parent Refinancing Indebtedness), plus

 

(c)       $2.0
billion.

 

The preceding provisions shall not prohibit:

 

(1)       the
payment of any dividend within 60 days after the date of declaration thereof, if at the date of declaration such payment would have complied
with the provisions of this Supplemental Indenture;

 

(2)       the
redemption, repurchase, retirement, defeasance or other acquisition of any subordinated Indebtedness of the Company in exchange for,
or out of the net proceeds of, the substantially concurrent sale (other than to a Subsidiary of the Company) of, Equity Interests of
the Company (other than Disqualified Stock);

 

(3)       the
defeasance, redemption, repurchase or other acquisition of subordinated Indebtedness of the Company or any of its Restricted Subsidiaries
with the net cash proceeds from an incurrence of Permitted Refinancing Indebtedness;

 

(4)       the
payment of any dividend or other distribution, which need not be pro rata, to the extent necessary to permit direct or indirect Beneficial
Owners of shares of Capital Stock of the Company to pay federal, state or local income tax liabilities that would arise solely from income
of the Company or any of its Restricted Subsidiaries, as the case may be, for the relevant taxable period being attributable to them;

 

(5)       the
payment of any dividend by a Restricted Subsidiary of the Company to the holders of its Equity Interests on a pro rata basis;

 

(6)       the
repurchase, redemption or other acquisition or retirement for value, or the payment of any dividend or distribution to the extent necessary
to permit the repurchase, redemption or other acquisition or retirement for value, of any Equity Interests of the Company or a Parent
of the Company held by any member of the Company’s or such Parent’s management pursuant to any management equity subscription
agreement or stock option agreement entered into in accordance with the policies of the Company or any Parent; provided that the
aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $50.0 million in any fiscal
year of the Issuers;

 

    	 	-58-	 

     

    

 

(7)       payment
of fees in connection with any acquisition, merger or similar transaction in an amount that does not exceed an amount equal to 1.25% of
the transaction value of such acquisition, merger or similar transaction;

 

(8)       (A) additional
Restricted Payments directly or indirectly to any Parent (i) for the purpose of enabling any Parent to pay interest when due on Indebtedness
under any Charter Parent Refinancing Indebtedness or (ii) so long as no Default has occurred and is continuing and the Company would
have been permitted, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment
had been made at the beginning of the applicable quarter period, to incur at least $1.00 of additional Indebtedness pursuant to the Leverage
Ratio test set forth in the first paragraph of Section 4.10, consisting of dividends or distributions to the extent required to enable
any Parent to defease, redeem, repurchase, prepay, repay, discharge or otherwise acquire or retire for value Indebtedness under any Charter
Parent Refinancing Indebtedness (including any expenses and fees incurred by any Parent in connection therewith); (B) so long as
no Default has occurred and is continuing, Restricted Payments used to defease, redeem, repurchase, prepay, repay, discharge or otherwise
acquire or retire for value Indebtedness under any Charter Parent Refinancing Indebtedness or consisting of purchases, redemptions or
other acquisitions by the Company or its Restricted Subsidiaries of Indebtedness under any Charter Parent Refinancing Indebtedness (including
any expenses and fees incurred by the Company and its Restricted Subsidiaries in connection therewith) and the distribution, loan or investment
to any Parent of Indebtedness so purchased, redeemed or acquired; or (C) Restricted Payments for the purpose of enabling any Parent
to (i) pay interest when due on Indebtedness under any Charter Subsidiary Refinancing Indebtedness or (ii) to defease, redeem,
repurchase, prepay, repay, discharge or otherwise acquire or retire for value Indebtedness under any Charter Subsidiary Refinancing Indebtedness
(including any expenses and fees incurred by the Company and its Restricted Subsidiaries in connection therewith);

 

(9)       Restricted
Payments directly or indirectly to any Parent regardless of whether a Default exists (other than an Event of Default under paragraph (1),
(2), (7) or (8) of Section 6.01), for the purpose of enabling such Person (A) to pay interest on and (B) so long
as the Company would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment
had been made at the beginning of the applicable quarter period, have been permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Leverage Ratio test set forth in the first paragraph of Section 4.10 to defease, redeem, repurchase, prepay, repay,
discharge or otherwise acquire or retire, in each case, Indebtedness of such Parent (x) which is not held by another Parent
and (y) to the extent that the net cash proceeds of such Indebtedness are or were used for the (1) payment of interest or principal
(or premium) on any Indebtedness of a Parent (including (A) by way of a tender, redemption or prepayment of such Indebtedness and
(B) amounts set aside to prefund any such payment), (2) direct or indirect (including by way of a contribution of property and/or
assets purchased with such net cash proceeds) Investment in the Company or any of its Restricted Subsidiaries or (3) payment of amounts
that would be permitted to be paid by way of a Restricted Payment under clause (10) immediately below (including the expenses of
any exchange transaction);

 

    	 	-59-	 

     

    

 

(10)     Restricted
Payments directly or indirectly to any Parent of (A) attorneys’ fees, investment banking fees, accountants’ fees, underwriting
discounts and commissions and other customary fees and expenses (including any commitment and other fees payable in connection with Credit
Facilities) actually incurred in connection with any issuance, sale or incurrence by such Parent of Equity Interests or Indebtedness,
or any exchange of securities or tender for outstanding debt securities, or (B) the costs and expenses of any offer to exchange privately
placed securities in respect of the foregoing for publicly registered securities or any similar concept having a comparable purpose;

 

(11)     the
redemption, repurchase, retirement or other acquisition of any Equity Interests of the Company or Indebtedness of the Issuers or any Equity
Interests of any direct or indirect parent of the Company, in exchange for, or out of the proceeds of the substantially concurrent sale
(other than to an Issuer or a Restricted Subsidiary) of, Equity Interests of the Company or any direct or indirect parent of the Company
(in each case, other than any Disqualified Stock);

 

(12)     the
declaration and payment of dividends to holders of any class or series of Disqualified Stock of the Issuers or any Restricted Subsidiary
issued in accordance with Section 4.10;

 

(13)     so
long as no Default has occurred and is continuing, other Restricted Payments in an aggregate amount outstanding taken together with all
other Restricted Payments made pursuant to this clause (13) not to exceed $100.0 million outstanding at any one time;

 

(14)     Restricted
Payments to pay all or a portion of the consideration payable for any Investment that would have been permitted to be made by the Issuers
under this Indenture including, without limitation, the true up payments pursuant to the Bright House Acquisition Agreement; provided
that the assets or Equity Interests acquired in such Investment (to the extent of amounts distributed by the Issuers to make such
Investment) are promptly contributed to the capital of the Company;

 

(15)     so
long as no Default or Event of Default has occurred and is continuing or would result therefrom, any Restricted Payments; provided
that the Leverage Ratio, after giving pro forma effect to such Restricted Payment, is less than or equal to 3.50 to 1.00;

 

    	 	-60-	 

     

    

 

(16)     any
distributions to any Parent to permit such Parent to pay (i) attorneys’ fees, investment banking fees, accountants’ fees,
underwriting discounts and commissions and other customary fees and expenses (including any commitment and other fees payable in connection
with credit facilities) actually incurred in connection with any issuance, sale or incurrence by such Parent of Equity Interests or Indebtedness,
any exchange of securities or a tender for outstanding debt securities or any actual or proposed Investment, (ii) the costs and expenses
of any offer to exchange privately placed securities in respect of the foregoing for publicly registered securities or any similar concept
having a comparable purpose or (iii) other administrative expenses (including legal, accounting, other professional fees and costs,
printing and other such fees and expenses) incurred in the ordinary course of business, in an aggregate amount in the case of this clause
(iii) not to exceed $5.0 million in any fiscal year; and

 

(17)     Restricted
Payments in an aggregate amount not to exceed an amount equal to the sum of Total Leverage Excess Proceeds and Declined Excess Proceeds
that has not been used to make any Investments pursuant to clause (21) of the definition of “Permitted Investments.”

 

The amount of all Restricted Payments (other than
cash) shall be the fair market value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred
or issued by the Company or any of its Restricted Subsidiaries pursuant to the Restricted Payment. The fair market value of any assets
or securities that are required to be valued by this covenant shall be determined by the Board of Directors of the Company, whose resolution
with respect thereto shall be delivered to the Trustee. Such Board of Directors’ determination must be based upon an opinion or
appraisal issued by an accounting, appraisal or investment banking firm of national standing if the fair market value exceeds $100.0 million.

 

Not later than the date of making any Restricted
Payment other than in the form of cash having a fair market value in excess of $150.0 million, the Issuers shall deliver to the Trustee
an Officers’ Certificate stating that such Restricted Payment is permitted and setting forth the basis upon which the calculations
required by this Section 4.07 were computed, together with a copy of any fairness opinion or appraisal required by this Supplemental
Indenture.

 

For purposes of determining compliance with this
Section 4.07, in the event that a Restricted Payment, when made, met the criteria of more than one of the categories described in
clauses (1) through (17) above, or was permitted pursuant to the first paragraph of this Section 4.07, the Issuers will be entitled
to classify such Restricted Payment (or portion thereof) on the date of its payment or later reclassify such Restricted Payment (or portion
thereof) in any manner that complies with this Section 4.07.

 

Section 4.08     Investments.

 

The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, directly or indirectly:

 

(1)       make
any Restricted Investment; or

 

(2)       allow
any of its Restricted Subsidiaries to become an Unrestricted Subsidiary,

 

    	 	-61-	 

     

    

 

unless:

 

(a)       in
each case, no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof; and

 

(b)       in
the case of a Restricted Investment only, the Company would, at the time of, and after giving effect to, such Restricted Investment, have
been permitted to incur at least $1.00 of additional Indebtedness pursuant to the Leverage Ratio test set forth in the first paragraph
of Section 4.10.

 

An Unrestricted Subsidiary may be redesignated
as a Restricted Subsidiary if such redesignation would not cause a Default.

 

For purposes of determining compliance with this
Section 4.08, in the event that an Investment, when made, met the criteria above or was a Permitted Investment, the Issuers will
be entitled to classify such Investment (or portion thereof) on the date of its payment or later reclassify such Investment (or portion
thereof) (i) as a Permitted Investment or (ii) in any manner that complies with this Section 4.08.

 

Section 4.09     Dividend
and Other Payment Restrictions Affecting Subsidiaries.

 

The Company shall not, directly or indirectly,
create or permit to exist or become effective any encumbrance or restriction on the ability of any of its Restricted Subsidiaries (other
than any Restricted Subsidiaries that guarantee the Notes) to:

 

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

 

(b)       make
loans or advances to the Company or any of its Restricted Subsidiaries; or

 

(c)       transfer
any of its properties or assets to the Company or any of its Restricted Subsidiaries.

 

However, the preceding restrictions shall not apply
to encumbrances or restrictions existing under or by reason of:

 

(1)       Existing
Indebtedness as in effect on the Issue Date (including, without limitation, Indebtedness under any of the Credit Facilities) and
any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings thereof, provided
that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are no more
restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in the most restrictive
Existing Indebtedness, as in effect on the Issue Date;

 

(2)       this
Supplemental Indenture and the Notes;

 

    	 	-62-	 

     

    

 

(3)       applicable
law, rule, regulation or order;

 

(4)       any
instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its Restricted Subsidiaries as in effect
at the time of such acquisition (except to the extent such Indebtedness was incurred in connection with or in contemplation of such acquisition),
which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or
the property or assets of the Person, so acquired; provided that, in the case of Indebtedness, such Indebtedness was permitted
by the terms of this Supplemental Indenture to be incurred;

 

(5)       customary
non-assignment provisions in leases, franchise agreements and other commercial agreements entered into in the ordinary course of business
and consistent with past practices;

 

(6)       purchase
money obligations for property acquired in the ordinary course of business that impose restrictions on the property so acquired of the
nature described in clause (c) of the preceding paragraph;

 

(7)       any
agreement for the sale or other disposition of a Restricted Subsidiary of the Company that restricts distributions by such Restricted
Subsidiary pending its sale or other disposition;

 

(8)       Permitted
Refinancing Indebtedness; provided that the restrictions contained in the agreements governing such Permitted Refinancing Indebtedness
are no more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced;

 

(9)       Liens
securing Indebtedness or other obligations otherwise permitted to be incurred under Section 4.14 that limit the right of the Company
or any of its Restricted Subsidiaries to dispose of the assets subject to such Lien;

 

(10)     provisions
with respect to the disposition or distribution of assets or property in joint venture agreements and other similar agreements;

 

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

 

(12)     restrictions
contained in the terms of Indebtedness permitted to be incurred under Section 4.10; provided that such restrictions are no
more restrictive, taken as a whole, than the terms contained in the most restrictive, together or individually of the Credit Facilities
as in effect on the Issue Date;

 

(13)      restrictions
that are not materially more restrictive, taken as a whole, than customary provisions in comparable financings and that the management
of the Company determines, at the time of such financing, will not materially impair the Issuers’ ability to make payments as required
under the Notes; and

 

    	 	-63-	 

     

    

 

(14)     any
encumbrances or restrictions imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements
or refinancings of the contracts, instruments or obligations referred to in clauses (1) through (13) above; provided that
such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good
faith judgment of the Issuers, not materially more restrictive taken as a whole with respect to such encumbrance and other restrictions
than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing.

 

Section 4.10     Incurrence
of Indebtedness and Issuance of Preferred Stock.

 

The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including, for the avoidance
of doubt, Acquired Debt) and the Company shall not issue any Disqualified Stock and shall not permit any of its Restricted Subsidiaries
to issue any shares of Disqualified Stock or Preferred Stock, provided that the Company or any of its Restricted Subsidiaries may
incur Indebtedness (including, for the avoidance of doubt, Acquired Debt) or the Company may issue Disqualified Stock and Restricted Subsidiaries
may issue Preferred Stock if the Leverage Ratio of the Company and its Restricted Subsidiaries would have been not greater than 6.0 to
1.0 and in each case, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom),
as if the additional Indebtedness had been incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may be,
at the beginning of the most recently ended fiscal quarter.

 

The first paragraph of this Section 4.10 shall
not prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”):

 

(1)        the
incurrence by the Company and its Restricted Subsidiaries of Indebtedness under Credit Facilities; provided that the aggregate
principal amount of all Indebtedness of the Company and its Restricted Subsidiaries outstanding under this clause (1) for all Credit
Facilities of the Company and its Restricted Subsidiaries after giving effect to such incurrence does not exceed an amount equal to $6.0
billion;

 

(2)       the
incurrence by the Company and its Restricted Subsidiaries of Existing Indebtedness (including Indebtedness outstanding under Credit Facilities
on the Issue Date);

 

(3)       the
incurrence by the Company and its Restricted Subsidiaries of Indebtedness represented by the Initial Notes (and any Exchange Notes in
respect thereof);

 

    	 	-64-	 

     

    

 

(4)       the
incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness represented by Capital Lease Obligations, mortgage financings
or purchase money obligations, in each case, incurred for the purpose of financing all or any part of the purchase price or cost of construction
or improvement (including, without limitation, the cost of design, development, construction, acquisition, transportation, installation,
improvement, and migration) of Productive Assets of the Company or any of its Restricted Subsidiaries, in an aggregate principal amount
not to exceed the greater of (i) $1.5 billion and (ii) 5.0% of Consolidated Net Tangible Assets at any time outstanding pursuant
to this clause (4);

 

(5)       the
incurrence by the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds
of which are used to refund, refinance or replace, in whole or in part, Indebtedness (other than intercompany Indebtedness) that
was permitted by this Supplemental Indenture to be incurred under this clause (5), the first paragraph of this Section 4.10 or clause
(2), (3), (9) or (12) of this second paragraph;

 

(6)       the
incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the Company and any of its
Restricted Subsidiaries; provided that:

 

(a)       if
the Company is the obligor on such Indebtedness, such Indebtedness must be expressly subordinated to the prior payment in full in cash
of all Obligations with respect to the Notes; and

 

(b)       (i) any
subsequent issuance or transfer of Equity Interests that results in any such Indebtedness being held by a Person other than the Company
or a Restricted Subsidiary thereof and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the
Company or a Restricted Subsidiary thereof, shall be deemed, in each case, to constitute an incurrence of such Indebtedness that was not
permitted by this clause (6);

 

(7)       the
incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations (other than for speculative purposes);

 

(8)       the
guarantee by the Company or any of its Restricted Subsidiaries of Indebtedness of a Restricted Subsidiary of the Company that was permitted
to be incurred by another provision of this Section 4.10;

 

(9)       Acquired
Debt or Disqualified Stock of a Person that becomes, or is merged into, a Restricted Subsidiary or any Issuer; provided, however,
that after giving pro forma effect thereto as if such acquisition or merger had been made at the beginning of the applicable quarter
period, the Leverage Ratio of the Company and its Restricted Subsidiaries is equal to or less than immediately prior to such transaction;

 

(10)     the
incurrence by the Company or any of its Restricted Subsidiaries of additional Indebtedness, Disqualified Stock or Preferred Stock in an
aggregate principal amount at any time outstanding under this clause (10), not to exceed the greater of (i) $1.5 billion and (ii) 5.0%
of Consolidated Net Tangible Assets;

 

(11)     the
accretion or amortization of original issue discount and the write up of Indebtedness in accordance with purchase accounting;

 

    	 	-65-	 

     

    

 

(12)     Contribution
Indebtedness;

 

(13)     Indebtedness
arising from agreements of any Issuer or a Restricted Subsidiary providing for and to the extent of indemnification, adjustment of purchase
price or similar obligations, in each case, incurred or assumed in connection with the disposition or acquisition of any business, assets
or a Subsidiary, other than Guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or
a Subsidiary for the purpose of financing such acquisition; and

 

(14)     Indebtedness
from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in
the ordinary course of business; provided that such Indebtedness is extinguished within 10 business days of its incurrence.

 

In the event that an item of Indebtedness, Disqualified
Stock or Preferred Stock (or any portion thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified
Stock or Preferred Stock described in clauses (1) through (14) of the second paragraph of this Section 4.10 or is entitled to
be incurred pursuant to the first paragraph of this Section 4.10, the Issuers, in their sole discretion, may classify or reclassify
such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) and will only be required to include the amount
and type of such Indebtedness, Disqualified Stock or Preferred Stock in one of the above clauses or the first paragraph of this Section 4.10.
Additionally, all or any portion of any item of Indebtedness may later be reclassified as having been incurred pursuant to any category
of permitted Indebtedness described in clauses (1) through (14) above or pursuant to the first paragraph of this Section 4.10
so long as such Indebtedness, Disqualified Stock or Preferred Stock is permitted to be incurred pursuant to such provision at the time
of reclassification. At the time of incurrence, the Issuers will be entitled to divide and classify an item of Indebtedness, Disqualified
Stock or Preferred Stock in more than one of the types of Indebtedness, Disqualified Stock or Preferred Stock described above in this
Section 4.10.

 

Section 4.11     Limitation
on Asset Sales.

 

The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, consummate an Asset Sale unless:

 

(1)       the
Company or such Restricted Subsidiary receives consideration at the time of such Asset Sale at least equal to the fair market value of
the assets or Equity Interests issued or sold or otherwise disposed of;

 

(2)       such
fair market value is determined by the Board of Directors of the Company; and

 

    	 	-66-	 

     

    

 

 

 

(3)             at
least 75% of the consideration from such Asset Sale, together with all other Asset Sales since the Issue Date on a cumulative basis (including
by way of relief from, or by any other Person assuming responsibility for, any liability, contingent or otherwise) received by the Company
or such Restricted Subsidiary is in the form of cash, Cash Equivalents or readily marketable securities.

 

For purposes of this Section 4.11, each of
the following shall be deemed to be cash:

 

(a)             any
liabilities (as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet) of the Company or any Restricted
Subsidiary thereof (other than contingent liabilities and liabilities that are by their terms subordinated to the Notes) that are assumed
by the transferee of any such assets pursuant to a customary novation agreement that releases the Company or such Restricted Subsidiary
from further liability;

 

(b)             any
securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such transferee that are converted
by the recipient thereof into cash, Cash Equivalents or readily marketable securities within 180 days after receipt thereof (to the extent
of the cash, Cash Equivalents or readily marketable securities received in that conversion);

 

(c)             Productive
Assets; and

 

(d)             any
Designated Noncash Consideration received by the Issuers or any Restricted Subsidiary in such Asset Sale having an aggregate fair market
value, taken together with all other Designated Noncash Consideration received pursuant to this clause (d) that is at that time outstanding,
not to exceed the greater of (i) $4.5 billion and (ii) 3.0% of Total Assets, with the fair market value of each item of Designated
Noncash Consideration being measured at the time received and without giving effect to subsequent changes in value.

 

Within 450 days after the receipt of any Net Proceeds
from an Asset Sale, the Company or a Restricted Subsidiary thereof may apply an amount equal to the Applicable Percentage of such Net
Proceeds (the “Applicable Proceeds”) at its option:

 

(1)             to
repay or otherwise retire debt under the Credit Facilities or any other Indebtedness of the Restricted Subsidiaries of the Company (other
than Indebtedness represented solely by a guarantee of a Restricted Subsidiary of the Company);

 

(2)             to
repay or otherwise retire unsecured Indebtedness of the Company, so long as a pro rata offer is made in accordance with the procedures
set forth in the next paragraph to all holders of other unsecured Indebtedness issued by the Company; or

 

(3)             to
invest in Productive Assets; provided that any such amount of Net Proceeds which the Company or a Restricted Subsidiary thereof
has committed to invest in Productive Assets within 450 days of the applicable Asset Sale may be invested in Productive Assets within
two years of such Asset Sale;

 

provided
that (1) pending the final application of the amount of any such Applicable Proceeds pursuant to this

 

Section 4.11,
the Company or a Restricted Subsidiary of the Company may apply such Applicable Proceeds temporarily to reduce Indebtedness (including
under the Credit Facilities) or otherwise apply such Applicable Proceeds in any manner not prohibited by the Indenture, and (2) the
Company or a Restricted Subsidiary of the Company, as the case may be, may elect to invest in Productive Assets prior to receiving the
Applicable Proceeds attributable to any given Asset Sale (provided that such investment shall be made no earlier than the earliest of
notice to the Trustee of the relevant Asset Sale, execution of a definitive agreement for the relevant Asset Sale, and consummation of
the relevant Asset Sale) and deem the amount so invested to be applied pursuant to and in accordance with clause (3) above with respect
to such Asset Sale.

 

    	 	-67-	 

     

    

 

If, with respect to any Asset Sale, at the expiration
of the 450-day period with respect to such Asset Sale, there remains Applicable Proceeds in excess of the greater of $250.0 million and
1.0% of Consolidated Net Tangible Assets (such amount of Applicable Proceeds that are equal to the greater of $250.0 million and 1.0%
of Consolidated Net Tangible Assets, “Excess Proceeds”), the Company shall make an offer to all Holders (an “Asset
Sale Offer”) and all holders of other Indebtedness that is of equal priority with the Notes containing provisions requiring
offers to purchase or redeem with the proceeds of sales of assets to purchase the maximum principal amount of Notes and such other Indebtedness
of equal priority that may be purchased out of the Excess Proceeds. For the avoidance of doubt, the Company may make an Asset Sale Offer
at any time within 450 days after the receipt of any Net Proceeds from an Asset Sale, and/or prior to an Asset Sale (subject to the occurrence
of an Asset Sale), or with respect to any Excess Proceeds. The offer price in any Asset Sale Offer shall be payable in cash and equal
to 100.0% of the principal amount of the subject Notes plus accrued and unpaid interest and Special Interest, if any, to the date of purchase.
If the aggregate principal amount of Notes and such other Indebtedness of equal priority tendered into such Asset Sale Offer exceeds the
amount of Excess Proceeds, the Trustee shall select the Notes (on as nearly a pro rata basis as possible among the Notes subject to DTC
procedures) and such other Indebtedness of equal priority to be purchased on a pro rata basis.

 

If any Excess Proceeds remain after consummation
of an Asset Sale Offer (such remaining Excess Proceeds, “Declined Excess Proceeds”), then the Company or any Restricted
Subsidiary thereof may use such Declined Excess Proceeds for any purpose not otherwise prohibited by this Supplemental Indenture. Upon
completion of any Asset Sale Offer, the amount of Applicable Proceeds and Excess Proceeds shall be reset at zero.

 

In the event that the Company shall be required
to commence an offer to Holders to purchase Notes pursuant to this Section 4.11, it shall follow the procedures specified in Section 3.09.

 

Section 4.12             [Reserved].

 

Section 4.13             Transactions
with Affiliates.

 

The Company shall not, and shall not permit any
of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets
to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan,
advance or guarantee with, or for the benefit of, any Affiliate (each, an “Affiliate Transaction”), unless:

 

(1)             such
Affiliate Transaction is on terms, taken as a whole, that are no less favorable to the Company or the relevant Restricted Subsidiary than
those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person;
and

 

    	 	-68-	 

     

    

 

(2)             the
Company delivers to the Trustee:

 

(a)             with
respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration given or received by
the Company or any such Restricted Subsidiary in excess of $25.0 million, a resolution of the Board of Directors of the Company or Charter
set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with this Section 4.13 and that such
Affiliate Transaction has been approved by a majority of the members of such Board of Directors; and

 

(b)             with
respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration given or received by
the Company or any such Restricted Subsidiary in excess of $100.0 million, an opinion as to the fairness to the Company of such Affiliate
Transaction from a financial point of view issued by an accounting, appraisal or investment banking firm of national standing.

 

The following items shall not be deemed to be Affiliate
Transactions and, therefore, shall not be subject to the provisions of the prior paragraph:

 

(1)             any
existing employment agreement entered into by the Company or any of its Subsidiaries and any employment agreement entered into by the
Company or any of its Restricted Subsidiaries in the ordinary course of business;

 

(2)             transactions
between or among the Company and/or its Restricted Subsidiaries;

 

(3)             payment
of reasonable directors fees to Persons who are not otherwise Affiliates of the Company and customary indemnification and insurance arrangements
in favor of directors and officers, regardless of affiliation with the Company or any of its Restricted Subsidiaries;

 

(4)             payment
of Management Fees;

 

(5)             Restricted
Payments that are permitted by Section 4.07 and Restricted Investments that are permitted by Section 4.08;

 

(6)             Permitted
Investments;

 

(7)             transactions
pursuant to, and the performance of, agreements existing on the Issue Date, as in effect on the Issue Date, or as subsequently modified,
supplemented, or amended, to the extent that any such modifications, supplements or amendments complied with the applicable provisions
of the first paragraph of this Section 4.13;

 

    	 	-69-	 

     

    

 

(8)             the
assignment and assumption of contracts (which contracts are entered into prior to the Issue Date on an arms-length basis in the ordinary
course of business of the relevant Parent), reasonably related to the business of the Company and the assignment and assumption of which
would not result in the incurrence of any Indebtedness by the Company or any Restricted Subsidiary to a Restricted Subsidiary by a Parent;

 

(9)             transactions
with a Person that is an Affiliate solely as a result of the fact that the Company or a Restricted Subsidiary controls or otherwise owns
Equity Interests of such Person;

 

(10)           equity
contributions in, and the issuance of Equity Interests of, the Company;

 

(11)           any
(x) purchases of any class of Indebtedness from, or lending of any class of Indebtedness to, the Company or any of its Restricted
Subsidiaries so long as the amount of Indebtedness of such class purchased or loaned by such Affiliates does not exceed 25% of the applicable
class of Indebtedness offered to non-Affiliate investors generally and (y) repurchases, redemptions or other retirements for value
by the Company or any of its Restricted Subsidiaries of Indebtedness of any class held by any Affiliate of the Company so long as such
repurchase, redemption or other retirement for value is on the same terms as are made available to investors holding such class of Indebtedness
generally and Affiliates hold no more than 25% of such class of Indebtedness; and

 

(12)           any loans that satisfy Section 4.13(1) that
are not otherwise prohibited under this Indenture.

 

Section 4.14            Liens.

 

The Company shall not, directly or indirectly,
create, incur, assume or suffer to exist any Lien of any kind securing Indebtedness on any asset of the Company, whether owned on the
Issue Date or thereafter acquired, except Permitted Liens.

 

Section 4.15            Existence.

 

Subject to, and as permitted under, Article 5,
the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its limited liability company
existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational
documents (as the same may be amended from time to time) of the Company or any such Subsidiary; provided, however, that
the Company shall not be required to preserve or keep the corporate, partnership or other existence of any of its Subsidiaries (other
than Capital Corp if the other Issuer is not then a corporation), if the Company shall determine that the preservation or keeping thereof
is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof
is not adverse in any material respect to the Company and its Restricted Subsidiaries, taken as a whole.

 

    	 	-70-	 

     

    

 

Section 4.16            Repurchase
at the Option of Holders upon a Change of Control Triggering Event.If a Change of Control Triggering Event occurs, each Holder shall
have the right to require the Issuers to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof)
of that Holder’s Notes pursuant to a “Change of Control Offer.” In the Change of Control Offer, the Issuers shall offer
a “Change of Control Payment” in cash equal to 101% of the aggregate principal amount of the Notes repurchased plus
accrued and unpaid interest and Special Interest, if any, thereon to the date of purchase.

 

Within ten days following any Change of Control
Triggering Event, the Issuers shall transmit a notice to each Holder (with a copy to the Trustee) describing the transaction or transactions
that constitute the Change of Control Triggering Event and stating:

 

(1)             the
purchase price and the purchase date, which shall not exceed 30 Business Days from the date such notice is mailed (the “Change
of Control Payment Date”);

 

(2)             that
any Note not tendered shall continue to accrue interest;

 

(3)             that,
unless the Issuers default in the payment of the Change of Control Payment, all Notes accepted for payment pursuant to the Change of Control
Offer shall cease to accrue interest after the Change of Control Payment Date;

 

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

 

(5)             that
Holders shall be entitled to withdraw their election if the Paying Agent receives, not later than the close of business on the second
Business Day preceding the Change of Control Payment Date, a facsimile transmission or letter setting forth the name of the Holder, the
principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased;
and

 

(6)             that
Holders whose Notes are being purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of
the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess
thereof.

 

To the extent that the provisions of any securities
laws or regulations conflict with the provisions of this Section 4.16, the Issuers’ compliance with such laws and regulations
shall not in and of itself cause a breach of their obligations under this Section 4.16.

 

On the Change of Control Payment Date, the Issuers
shall, to the extent lawful:

 

(1)             accept
for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer;

 

    	 	-71-	 

     

    

 

(2)             deposit
with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof so tendered; and

 

(3)             deliver
or cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate stating the aggregate principal
amount of Notes or portions thereof being purchased by the Issuers.

 

The Paying Agent shall promptly transmit to each
Holder of Notes so tendered the Change of Control Payment for such Notes, and the Trustee shall promptly authenticate and mail (or cause
to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered,
if any; provided that each such new Note shall be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.
The Issuers shall publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control
Payment Date.

 

The provisions described above that require the
Issuers to make a Change of Control Offer following a Change of Control Triggering Event shall be applicable regardless of whether or
not any other provisions in this Supplemental Indenture are applicable. Except as described above with respect to a Change of Control
Triggering Event, this Supplemental Indenture does not contain provisions that permit Holders to require that the Issuers repurchase or
redeem the Notes in the event of a takeover, recapitalization or similar transaction.

 

Notwithstanding any other provision of this Section 4.16,
the Issuers shall not be required to make a Change of Control Offer upon a Change of Control Triggering Event if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Supplemental Indenture
applicable to a Change of Control Offer made by the Issuers and purchases all Notes validly tendered and not withdrawn under such Change
of Control Offer.

 

In the event that Holders of not less than 90%
of the aggregate principal amount of the outstanding Notes accept a Change of Control Offer and the Issuers purchase all of the Notes
held by such Holders, the Issuers will have the right, upon not less than 10 nor more than 60 days’ prior notice, given not
more than 30 days following the purchase pursuant to the Change of Control Offer described above, to redeem all of the Notes that
remain outstanding following such purchase at a redemption price equal to the Change of Control Payment plus, to the extent not included
in the Change of Control Payment, accrued and unpaid interest on the Notes that remain outstanding, to, but not including, the date of
redemption (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date
that is on or prior to the redemption date).

 

    	 	-72-	 

     

    

 

Section 4.17            Limitations
on Issuances of Guarantees of Indebtedness.

 

The Company shall not permit any of its Restricted
Subsidiaries, directly or indirectly, to Guarantee any other Indebtedness of the Company except in respect of the Credit Facilities of
the Company (the “Guaranteed Indebtedness”) unless:

 

(1)             such
Restricted Subsidiary simultaneously executes and delivers a supplemental indenture providing for the Guarantee (a “Subsidiary
Guarantee”) of the payment of the Notes by such Restricted Subsidiary; and

 

(2)             until
all the Notes have been satisfied in full, such Restricted Subsidiary waives and will not in any manner whatsoever claim or take the benefit
or advantage of, any rights of reimbursement, indemnity or subrogation or any other rights against the Company or any other Restricted
Subsidiary thereof as a result of any payment by such Restricted Subsidiary under its Subsidiary Guarantee;

 

provided
that this paragraph shall not be applicable to any Guarantee or any Restricted Subsidiary that existed at the time such Person became
a Restricted Subsidiary and was not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary.

 

If the Guaranteed Indebtedness is subordinated
to the Notes, then the Guarantee of such Guaranteed Indebtedness shall be subordinated to the Subsidiary Guarantee at least to the extent
that the Guaranteed Indebtedness is subordinated to the Notes.

 

If any Guarantor is released from its obligations
on Guaranteed Indebtedness it shall be automatically released from its obligation with respect to its Guarantee of the Notes hereunder.

 

Section 4.18            Special
Interest Notice.

 

In the event the Issuers are required to pay Special
Interest, the Issuers shall provide written notice to the Trustee of the Issuers’ obligation to pay Special Interest no later than
15 days prior to the next interest payment date, which notice shall set forth the amount of the Special Interest to be paid by the Issuers
on such payment date. The Trustee shall not at any time be under any duty or responsibility to any Holders to determine whether the Special
Interest is payable or the amount thereof.

 

Section 4.19            Termination
of Covenants.

 

When the Notes (a) have Investment Grade Ratings
from two of the Rating Agencies and (b) no Default or Event of Default has occurred and is continuing, the Company and its Restricted
Subsidiaries shall thereafter not be subject to the provisions of Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.13 and clause (D) of the
first paragraph of Section 5.01. The Issuers shall give written notice to the Trustee of the satisfaction of conditions (a) and
(b) of this Section 4.19.

 

    	 	-73-	 

     

    

 

Article 5

 

SUCCESSORS

 

With respect to the Notes only, each Issuer hereby
agrees to expressly subject itself to the provisions of Article 5 of the Base Indenture and Section 5.01 of the Base Indenture
is hereby replaced with the following:

 

Section 5.01            Merger,
Consolidation or Sale of Assets.

 

Neither Issuer may, directly or indirectly: (1) consolidate
or merge with or into another Person or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of its
assets, in one or more related transactions, to another Person; unless:

 

(a)            either:

 

(i)              such
Issuer is the surviving Person; or

 

(ii)             the
Person formed by or surviving any such consolidation or merger (if other than such Issuer) or to which such sale, assignment, transfer,
conveyance or other disposition shall have been made is a Person organized or existing under the laws of the United States, any state
thereof or the District of Columbia; provided that if the Person formed by or surviving any such consolidation or merger with such
Issuer is a limited liability company or a Person other than a corporation, a corporate co-issuer shall also be an obligor with respect
to the Notes;

 

(b)            the
Person formed by or surviving any such consolidation or merger (if other than such Issuer) or the Person to which such sale, assignment,
transfer, conveyance or other disposition shall have been made assumes all the obligations of such Issuer under the Notes and this Supplemental
Indenture pursuant to a supplemental indenture reasonably satisfactory to the Trustee;

 

(c)            immediately
after such transaction no Default or Event of Default exists; and

 

(d)            such
Issuer or the Person formed by or surviving any such consolidation or merger (if other than such Issuer) will, on the date of such transaction
after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of the
most recently ended fiscal quarter,

 

(x)             be
permitted to incur at least $1.00 of additional Indebtedness pursuant to the Leverage Ratio test set forth in the first paragraph of Section 4.10;
or

 

(y)             have
a Leverage Ratio immediately after giving effect to such consolidation or merger no greater than the Leverage Ratio immediately prior
to such consolidation or merger.

 

In addition, the Company may not, directly or indirectly,
lease all or substantially all of its properties or assets, in one or more related transactions, to any other Person. This Section 5.01
shall not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among any of the Company’s
Wholly Owned Restricted Subsidiaries.

 

    	 	-74-	 

     

    

 

Article 6

 

DEFAULTS AND REMEDIES

 

With respect to the Notes only, each Issuer hereby
agrees to expressly subject itself to the provisions of Article 6 of the Base Indenture and Section 6.01 of the Base Indenture
is hereby replaced with the following and additionally, with respect to the Existing Notes only, clauses (5) through (6) of
the following shall amend and replace the equivalent provisions in the Base Indenture:

 

		(5)	default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced
any Indebtedness for money borrowed by CCO Holdings or any of its Restricted Subsidiaries (or the payment of which is guaranteed by CCO
Holdings or any of its Restricted Subsidiaries) whether such Indebtedness or guarantee now exists, or is created after the Issue Date,
if that default:

 

		(a)	is caused by a failure to pay at final stated maturity the principal amount on such Indebtedness prior to the expiration of the grace
period provided in such Indebtedness on the date of such default (a “Payment Default”); or

 

		(b)	results in the acceleration of such Indebtedness prior to its express maturity;

 

and, in each case, the principal amount of any such Indebtedness,
together with the principal amount of any other such Indebtedness under which there has been a Payment Default (measured at the time of
the Payment Default) or the maturity of which has been so accelerated, aggregates the greater of (i) $1,000 million and (ii) 0.675%
of Total Assets;

 

		(6)	failure by CCO Holdings or any of its Restricted Subsidiaries to pay final judgments (measured when such judgment is rendered) which
are non-appealable aggregating in excess of the greater of (i) $1,000 million and (ii) 0.675% of Total Assets, net of applicable
insurance which has not been denied in writing by the insurer, which judgments are not paid, discharged or stayed for a period of 60 days;

 

Any notice of Default, notice of acceleration or
instruction to the Trustee to provide a notice of Default, notice of acceleration or take any other action (a “Noteholder Direction”)
provided by any one or more Holders (each, a “Directing Holder”) must be accompanied by a written representation from
each such Holder to the Issuers and the Trustee that such Holder represents that it is not (or, in the case such Holder is DTC or its
nominee, that such Holder is being instructed solely by Beneficial Owners that are not) Net Short (a “Position Representation”),
which representation, in the case of a Noteholder Direction relating to a notice of Default (a “Default Direction”),
shall be deemed repeated at all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated.
In addition, each Directing Holder must, at the time of providing a Noteholder Direction, covenant to provide the Issuers with such other
information as the Issuers may reasonably request from time to time in order to verify the accuracy of such Directing Holder’s Position
Representation within five Business Days of request therefor (a “Verification Covenant”). In any case in which the
Holder is DTC or its nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the Beneficial
Owner of the Notes in lieu of DTC or its nominee, and DTC shall be entitled to rely on such Position Representation and Verification Covenant
in delivering its direction to the Trustee.

 

    	 	-75-	 

     

    

 

If, following the delivery of a Noteholder Direction,
but prior to acceleration of the Notes, the Issuers determine in good faith that there is a reasonable basis to believe a Directing Holder
was, at any relevant time, in breach of its Position Representation and provide to the Trustee evidence that the Issuers have initiated
litigation in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its
Position Representation, and seeking to invalidate any Event of Default that resulted from the applicable Noteholder Direction, the cure
period with respect to such Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically
reinstituted and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter.
If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Issuers provide to the Trustee an Officers’
Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the cure period with respect to such Default
shall be automatically stayed and the cure period with respect to any Event of Default that resulted from the applicable Noteholder Direction
shall be automatically reinstituted and any remedy stayed until such time as the Issuers provide the Trustee with an Officers’ Certificate
that the Verification Covenant has been satisfied; provided that the Issuers shall promptly deliver such Officers’ Certificate
to the Trustee upon becoming aware that the Verification Covenant has been satisfied. Any breach of the Position Representation (as evidenced
by the delivery to the Trustee of the Officers’ Certificate stating that a Directing Holder failed to satisfy its Verification Covenant)
shall result in such Holder’s participation in such Noteholder Direction being disregarded; and if, without the participation of
such Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient
to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default
shall be deemed never to have occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction
or any notice of such Default or Event of Default.

 

Notwithstanding anything in the preceding two paragraphs
to the contrary, any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy
or similar direction shall not require compliance with the foregoing paragraphs.

 

The Trustee shall have no obligation to monitor
or determine whether a Holder is Net Short and can rely conclusively on the Officers’ Certificates delivered by the Issuers and
determinations made by a court of competent jurisdiction.

 

    	 	-76-	 

     

    

 

Article 7

 

TRUSTEE

 

With respect to the Notes only, Article 7
of the Base Indenture is hereby replaced with the following:

 

Section 7.01             Duties
of Trustee.(1)   If an Event of Default has occurred and is continuing,
the Trustee shall exercise such of the rights and powers vested in it by this Supplemental Indenture, and use the same degree of care
and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own
affairs.

 

(2)             Except
during the continuance of an Event of Default:

 

(a)             the
duties of the Trustee shall be determined solely by the express provisions of this Supplemental Indenture and the Trustee need perform
only those duties that are specifically set forth in this Supplemental Indenture and no others, and no implied covenants or obligations
shall be read into this Supplemental Indenture against the Trustee; and

 

(b)             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 or opinions required to be furnished to the Trustee hereunder and conforming to the requirements
of this Supplemental Indenture. However, in the case of certificates or opinions specifically required by any provision hereof to be furnished
to it, the Trustee shall examine such certificates and opinions to determine whether or not they conform to the requirements of this Supplemental
Indenture (but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein).

 

(3)             The
Trustee may not be relieved from liabilities for its own gross negligent action, its own gross negligent failure to act, or its own willful
misconduct, except that:

 

(a)             this
paragraph (3) does not limit the effect of paragraph (2) of this Section 7.01;

 

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

 

(c)             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 of the Base Indenture.

 

(4)             Whether
or not therein expressly so provided, every provision of this Supplemental Indenture that in any way relates to the Trustee is subject
to paragraphs (1), (2), and (3) of this Section 7.01.

 

    	 	-77-	 

     

    

 

(5)             No
provision of this Supplemental Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee
shall be under no obligation to exercise any of its rights and powers under this Supplemental Indenture at the request of any Holders,
unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss, liability, claim, damage
or expense.

 

(6)             The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuers. Money
held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

(7)             The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or documents.

 

Section 7.02             Rights
of Trustee.

 

(1)             The
Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any document (whether in its original or
facsimile form) 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.

 

(2)             Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee
shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion
of Counsel. The Trustee may consult with counsel of its own selection and the written advice or opinion of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted
by it hereunder in good faith and in reliance thereon.

 

(3)             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.

 

(4)             The
Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights
or powers conferred upon it by this Supplemental Indenture.

 

(5)             Unless
otherwise specifically provided in this Supplemental Indenture, any demand, request, direction or notice from the Issuers shall be sufficient
if signed by an Officer of the Issuers.

 

(6)             The
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Supplemental Indenture at the request
or direction of any of Holder unless such Holder shall have offered to the Trustee security or indemnity satisfactory to it against the
costs, expenses and liabilities that might be incurred by it in compliance with such request or direction.

 

    	 	-78-	 

     

    

 

(7)             The
Trustee shall not be charged with knowledge of any Default or Event of Default unless either (a) a Responsible Officer of the Trustee
shall have actual knowledge of such Default or Event of Default or (b) written notice of such Default or Event of Default shall have
been given to and received at the Corporate Trust Office of the Trustee by the Issuers or any Holder and such notice references the Notes
and this Supplemental Indenture.

 

(8)             The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and,
if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises
of the Issuers, personally or by agent or attorney at the sole cost of the Issuers and shall incur no liability or additional liability
of any kind by reason of such inquiry or investigation.

 

(9)             In
no event shall the Trustee be responsible or liable for special, indirect, 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.

 

(10)           The
rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person
employed to act hereunder.

 

(11)           The
Trustee may request that the Issuers deliver certificates setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Supplemental Indenture.

 

Section 7.03            Individual
Rights of Trustee.

 

The Trustee in its individual or any other capacity
may become the owner or pledgee of Notes and may otherwise deal with the Issuers or any Affiliate of the Issuers with the same rights
it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest, it must eliminate such
conflict within 90 days and apply to the SEC for permission to continue as trustee or resign. Any Agent may do the same with like rights
and duties. The Trustee is also subject to Section 7.10.

 

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 Supplemental Indenture or the Notes, it shall not be accountable for the Issuers’
use of the proceeds from the Notes or any money paid to the Issuers or upon the Issuers’ direction under any provision of this Supplemental
Indenture, it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and
it shall not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Supplemental Indenture other than its certificate of authentication.

 

    	 	-79-	 

     

    

 

Section 7.05            Notice
of Defaults.

 

If a Default or Event of Default occurs and is
continuing and if it is known to a Responsible Officer of the Trustee, the Trustee shall deliver to Holders a notice of the Default or
Event of Default within 90 days after the Trustee acquires knowledge thereof. Except in the case of a Default or Event of Default in payment
of principal of, premium, if any, or interest on any Note, the Trustee may withhold the notice if and so long as a committee of its Responsible
Officers in good faith determines that withholding the notice is in the interests of Holders.

 

Section 7.06            [Reserved].

 

Section 7.07            Compensation
and Indemnity.

 

The Issuers shall pay to the Trustee from time
to time compensation as agreed upon in writing for its acceptance of this Supplemental Indenture and services hereunder. The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuers shall reimburse the Trustee
promptly upon request for all disbursements, advances and expenses incurred or made by it in addition to the compensation for its services.
Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

 

The Issuers shall, jointly and severally, indemnify
the Trustee and any predecessor trustee against any and all losses, liabilities, claims, damages or expenses (including reasonable legal
fees and expenses) including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it
arising out of or in connection with the acceptance or administration of its duties under this Supplemental Indenture, including the costs
and expenses of enforcing this Supplemental Indenture against the Issuers (including this Section 7.07) and defending itself against
any claim (whether asserted by the Issuers or any Holder or any other person) or liability in connection with the exercise or performance
of any of its powers or duties hereunder, except to the extent any such loss, damage, claim, liability or expense determined to have been
caused by its own gross negligence or willful misconduct. The Trustee shall notify the Issuers promptly of any claim for which it may
seek indemnity of which a Responsible Officer has received written notice. Failure by the Trustee to so notify the Issuers shall not relieve
the Issuers of their obligations hereunder. The Issuers shall defend the claim and the Trustee shall cooperate in the defense. The Trustee
may have separate counsel and the Issuers shall pay the reasonable fees and expenses of such counsel. The Issuers need not pay for any
settlement made without their consent, which consent shall not be unreasonably withheld.

 

The obligations of the Issuers in this Section 7.07
shall survive resignation or removal of the Trustee and the satisfaction, discharge or termination of this Supplemental Indenture.

 

To secure the Issuers’ payment obligations
in this Section 7.07, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee,
except such money or property held in trust by the Trustee to pay the principal of and interest on any Notes. Such Lien shall survive
the resignation or removal of the Trustee and the satisfaction and discharge of this Supplemental Indenture.

 

    	 	-80-	 

     

    

 

When the Trustee incurs expenses or renders services
after an Event of Default specified in Sections 6.01(7) or (8) of the Base Indenture occurs, the expenses and the compensation
for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under
any Bankruptcy Law.

 

Section 7.08            Replacement
of the Trustee.

 

A resignation or removal of the Trustee and appointment
of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section 7.08.

 

The Trustee may resign in writing at any time and
be discharged from the trust hereby created by so notifying the Issuers. The Holders of a majority in principal amount of the then outstanding
Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing. The Issuers may remove the Trustee if:

 

(a)            the
Trustee fails to comply with Section 7.10;

 

(b)            the
Trustee is adjudged as bankrupt or as insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

 

(c)            a
custodian or public officer takes charge of the Trustee or its property; or

 

(d)            the
Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Issuers shall promptly appoint a successor Trustee. Within one year after the successor
Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace
the successor Trustee appointed by the Issuers.

 

If a successor Trustee does not take office within
60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuers or the Holders of at least 10% in principal
amount of the then outstanding Notes may petition at the expense of the Issuers any court of competent jurisdiction for the appointment
of a successor Trustee.

 

If the Trustee, after written request by any Holder
who has been a Holder for at least six months, fails to comply with Section 7.10, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 

A successor Trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Issuers. Thereupon, the resignation or removal of the retiring Trustee shall become
effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Supplemental 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; provided all sums owing to the Trustee hereunder have been paid and subject to the Lien
provided for in Section 7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Issuers’ obligations
under Section 7.07 shall continue for the benefit of the retiring Trustee.

 

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Section 7.09          Successor
Trustee by Merger, etc. If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate
trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee.

 

Section 7.10          Eligibility;
Disqualification.

 

There shall at all times be a Trustee hereunder
that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and
that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published annual report of condition.

 

Article 8

 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

With respect to the Notes only, clause (a) of
Section 8.02 of the Base Indenture is hereby replaced with the following:

 

Section 8.02 Legal Defeasance and Discharge

 

(a)            the
rights of Holders of outstanding Notes to receive payments in respect of the principal of, premium, if any, and interest and Special Interest,
if any, on the Notes when such payments are due from the trust referred to below;

 

With respect to the Notes only, Section 8.03
of the Base Indenture is hereby replaced with the following:

 

Section 8.03          Covenant
Defeasance.

 

Upon the Issuers’ exercise under Section 8.01
of the Base Indenture of the option applicable to this Section 8.03, the Issuers shall, subject to the satisfaction of the conditions
set forth in Section 8.04 of the Base Indenture, be released from their obligations under the covenants contained in Article 5
and Sections 4.03, 4.07, 4.08, 4.09, 4.10, 4.11, 4.13, 4.14, 4.16, 4.17 and 4.19 with respect to the outstanding Notes on and after the
date the conditions set forth in Section 8.04 of the Base Indenture are satisfied (hereinafter, “Covenant Defeasance”),
and the Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration
or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding”
for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this
purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuers 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, but,
except as specified above, the remainder of this Supplemental Indenture and such Notes shall be unaffected thereby. In addition, upon
the Issuers’ exercise under Section 8.01 of the Base Indenture of the option applicable to this Section 8.03, subject
to the satisfaction of the conditions set forth in Section 8.04, Sections 6.01(3) through 6.01(6) of the Base Indenture
shall not constitute Events of Default.

 

    	 	-82-	 

     

    

 

Article 9

 

AMENDMENT, SUPPLEMENT AND WAIVER

 

With respect to the Notes only, each Issuer hereby
agrees to expressly subject itself to the provisions of Article 9 of the Base Indenture and clauses (3), (9) and (10) of
Section 9.01 of the Base Indenture are hereby replaced with the following:

 

Section 9.01          Without
Consent of Holders of Notes.

 

(3)            provide
for or confirm the issuance of Additional Notes or the Exchange Notes pursuant to the Registration Rights Agreement;

 

(9)            change
or eliminate any of the provisions of this Indenture; provided that any such change or elimination shall become effective only when there
are no outstanding Notes of any series created prior to the execution of such supplemental indenture that is entitled to the benefit of
such provision and as to which such supplemental indenture would apply;

 

(10)          evidence
and provide for the acceptance of appointment hereunder by a successor Trustee with respect to one or more series of Notes and to add
to or change any of the provisions of this Indenture as shall be necessary for or to facilitate the administration of the trusts hereunder
by more than one Trustee; and

 

With respect to the Notes only, the following is
hereby included as clause (11) of Section 9.01 of the Base Indenture:

 

(11)          make
any amendment to the provisions of this Indenture or the Notes to eliminate the effect of any Accounting Change or in the application
thereof as described in the last paragraph of the definition of “GAAP.”

 

With respect to the Notes only, clauses (2) and
(7) of Section 9.02 of the Base Indenture are hereby replaced with the following:

 

Section 9.02          With
Consent of Holders of Notes.

 

(2)            reduce
the principal of or change the fixed maturity of any Note or alter the payment provisions with respect to the redemption of the Notes
(other than a payment required by Section 3.09, Section 4.11, or Section 4.16 of this Supplemental Indenture), provided
that the provisions regarding the notice and timing thereof may be amended with the consent of the Holders of a majority in aggregate
principal amount of the Notes;

 

(7)            waive
a redemption payment with respect to any Note (other than a payment required by Section 3.09, Section 4.11, or Section 4.16
of this Supplemental Indenture); or

 

    	 	-83-	 

     

    

 

Article 12

 

MISCELLANEOUS

 

With respect to the Notes only, the last paragraph
of Section 12.02 of the Base Indenture is hereby replaced with the following:

 

The Trustee shall have the right to accept and
act upon instructions, including funds transfer instructions (“Instructions”) given pursuant to this Indenture and
delivered using Electronic Means; provided, however, that the Issuers shall provide to the Trustee an incumbency certificate listing persons
with the authority to provide such Instructions (“Authorized Persons”) and containing specimen signatures of such Authorized
Persons, which incumbency certificate shall be amended by the Issuers whenever a person is to be added or deleted from the listing. If
the Issuers elect to give the Trustee Instructions using

 

Electronic Means and the Trustee in its discretion elects to act upon
such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling. The Issuers understand and agree
that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume
that directions that purport to have been sent by an Authorized Person listed on the incumbency certificate provided to the Trustee have
been sent by such Authorized Person. The Issuers shall be responsible for ensuring that only Authorized Person transmit such Instructions
to the Trustee and that the Issuers and all Authorized Person are solely responsible to safeguard the use and confidentiality of applicable
user and authorization codes, passwords and/or authentication keys upon receipt by the Issuers. The Trustee shall not be liable for any
losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions
notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Issuers agree: (i) to assume
all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the
Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties and (ii) that it is fully informed
of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more
secure methods of transmitting Instructions than the method(s) selected by the Issuers.

 

With respect to the Notes only, Section 12.13
of the Base Indenture is hereby replaced with the following:

 

Section 12.13          Table
of Contents, Headings, etc.

 

The Table of Contents, Cross-Reference Table and
headings of the Articles and Sections of this Supplemental Indenture and the Base Indenture have been inserted for convenience of reference
only, are not to be considered a part of this Supplemental Indenture or the Base Indenture and shall in no way modify or restrict any
of the terms or provisions. Unless otherwise expressly specified, references in this Supplemental Indenture to specific Articles, Sections
or clauses refer to Articles, Sections and clauses contained in this Supplemental Indenture, unless such Article, Section or clause
is incorporated herein by reference to the Base Indenture or no such Article, Section or clause appears in this Supplemental Indenture,
in which case such references refer to the applicable section of the Base Indenture.

 

    	 	-84-	 

     

    

 

With respect to the Notes only, the following Sections
12.17 and 12.18 are hereby added to Article 12 of the Base Indenture:

 

Section 12.17          Supplemental
Indenture Controls.

 

In case any provision of this Supplemental Indenture
conflicts with any provision of the Base Indenture, the provisions of this Supplemental Indenture shall govern and be controlling, solely
with respect to the Notes (and any Subsidiary Guarantees endorsed thereon).

 

Section 12.18          Submission
to Jurisdiction.

 

The parties irrevocably submit to the non-exclusive
jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, City of New York, over any suit, action or proceeding
arising out of or relating to this Indenture. To the fullest extent permitted by applicable law, the parties irrevocably waive and agree
not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any
objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court
and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 

Article 13

 

SATISFACTION AND DISCHARGE

 

Section 13.01          Satisfaction
and Discharge of Supplemental Indenture

 

This Supplemental Indenture shall cease to be of
further effect (except as to any surviving rights of registration of transfer or exchange of Notes herein expressly provided for), and
the Trustee, on demand of and at the expense of the Issuers, shall execute proper instruments acknowledging satisfaction and discharge
of this Supplemental Indenture, when

 

(1)        either

 

(a)        all
Notes theretofore authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 2.07 and (ii) Notes for whose payment money has theretofore been deposited in trust
or segregated and held in trust by the Issuers and thereafter repaid to the Issuers or discharged from such trust) have been delivered
to the Trustee for cancellation; or

 

(b)        all
such Notes not theretofore delivered to the Trustee for cancellation

 

(i)            have
become due and payable; or

 

    	 	-85-	 

     

    

 

(ii)            will
become due and payable at their Stated Maturity within one year, or

 

(iii)            are
to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Issuers,

 

and the Issuers, in the case of (i),
(ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount
sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for principal
(and premium, if any) and interest (including Special Interest, if any) to the date of such deposit (in the case of Notes which have become
due and payable) or to the maturity or redemption thereof, as the case may be;

 

(2)        the
Issuers have paid or caused to be paid all other sums payable hereunder by the Issuers; and

 

(3)        the
Issuers have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent
herein provided for relating to the satisfaction and discharge of this Supplemental Indenture have been complied with.

 

Notwithstanding the satisfaction and discharge of this Supplemental
Indenture pursuant to this Article 13, the obligations of the Issuers 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 13.01, the obligations of
the Trustee under Section 13.02 shall survive such satisfaction and discharge.

 

Section 13.02          Application
of Trust Money.

 

All money deposited with the Trustee pursuant to
Section 13.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Supplemental Indenture,
to the payment, either directly or through any Paying Agent as the Trustee may determine, to the Persons entitled thereto, of the principal
(and premium, if any) and interest (including Special Interest, if any) for whose payment such money has been deposited with the Trustee.

 

[Signatures on following page]

 

    	 	-86-	 

     

    

 

Dated as of April 22, 2021

 

	 	CCO HOLDINGS, LLC, as an Issuer
	 	 	 	 
	 	By:	/s/ Scott Schwartz
	 	 	Name:	Scott Schwartz
	 	 	Title:	Group Vice President, Corporate Finance and Treasurer
	 	 	 	 
	 	CCO HOLDINGS CAPITAL CORP., as an Issuer
	 	 	 	 
	 	By:	/s/ Scott Schwartz
	 	 	Name:	Scott Schwartz
	 	 	Title:	Group Vice President, Corporate Finance and Treasurer

 

[Signature
Page to Sixth Supplemental Indenture]

 

    	 	 	 

     

    

 

	 	THE BANK OF NEW YORK MELLON TRUST COMPANY,
    N.A., as Trustee
	 	 	 	 
	 	By:	/s/ Julie Hoffman-Ramos
	 	 	Name:	Julie Hoffman-Ramos
	 	 	Title:	Vice President

 

[Signature
Page to Sixth Supplemental Indenture]

 

    	 	 	 

     

    

 

EXHIBIT A

 

[THIS GLOBAL NOTE
IS HELD BY THE DEPOSITARY (AS DEFINED IN THE SUPPLEMENTAL INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE
SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE
MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE SUPPLEMENTAL INDENTURE, (3) THIS
GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE SUPPLEMENTAL INDENTURE AND (4) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED
IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY
OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK 10004) (“DTC”), TO EACH ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 1

 

 

		1	Include Global Note Legend, if applicable.

 

    	 	A-1	 

     

    

 

[THE NOTE (OR ITS
PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE NOTE EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE NOTES EVIDENCED
HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES
ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE NOTES EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUERS THAT (A) SUCH
SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) (A) TO A PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER
(AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (D) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUERS SO REQUEST), (II) TO THE ISSUERS OR ANY
OF THEIR RESPECTIVE SUBSIDIARIES, OR (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL,
AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE NOTES EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET
FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE
OF THE NOTE EVIDENCED HEREBY.]2

 

[THIS NOTE (OR ITS
PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT
TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED
ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT.]3

 

 

		2	Include Private Placement Legend, if applicable.

 

		3	Include Regulation S Legend, if applicable.

 

    	 	A-2	 

     

    

 

[Face of Note]

 

CUSIP
NO. [               ]

 

4.500% Senior Notes due 2033

 

No. [   ]

 

$[               ]

 

CCO Holdings, LLC and CCO Holdings Capital Corp.

 

promise to pay to [      ] or to registered assigns the principal amount
of [      ] DOLLARS on June 1, 2033

 

Interest Payment Dates: June 1 and December 1

 

Record Dates: May 15 and November 15

 

Subject to Restrictions set forth in this Note.

 

    	 	A-3	 

     

    

 

IN WITNESS WHEREOF, each of CCO Holdings, LLC and
CCO Holdings Capital Corp. has caused this instrument to be duly executed.

 

Dated:
[               ]

 

	 	CCO HOLDINGS, LLC
	 	 	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	CCO HOLDINGS CAPITAL CORP.

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

[Signature Page to Global Note]

 

    	 	 	 

     

    

 

This is one of the Notes referred to

in the within-mentioned Supplemental Indenture:

 

	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,	 
	as Trustee
	 	 	 
	By: 	 	 

 

Authorized Signatory

 

Dated:
[               ]

 

[Signature
Page to Global Note]

 

    	 	 	 

     

    

 

[Back of Note]

4.500% Senior Note due 2033

 

Capitalized terms used herein shall have the meanings
assigned to them in the Supplemental Indenture referred to below unless otherwise indicated.

 

1.            INTEREST.
Each of CCO Holdings, LLC, a Delaware limited liability company, and CCO Holdings Capital Corp., a Delaware corporation, promise to pay
interest on the principal amount of this Note at the rate of 4.500% per annum from the Issue Date until maturity. The interest rate on
the Notes is subject to increase pursuant to the provisions of the Registration Rights Agreement. The Issuers will pay interest semi-annually
in arrears on June 1 and December 1 of each year, or if any such day is not a Business Day, on the next succeeding Business
Day (each an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest
has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the
payment of interest, and if this Note is authenticated between a record date referred to on the face and the next succeeding Interest
Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest
Payment Date shall be December 1, 2021. The Issuers shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1.00% per annum in excess
of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful.
Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 

2.            METHOD
OF PAYMENT. The Issuers shall pay interest on the Notes (except defaulted interest) to the Persons who are registered Holders at the close
of business on May 15 or November 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record
date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Supplemental Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium, if any, and interest at the office or agency of the Issuers maintained
for such purpose within or without the City and State of New York, or, at the option of the Issuers, payment of interest may be made by
check mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire transfer
of immediately available funds will be required with respect to principal of and interest and premium on all Global Notes and all other
Notes the Holders of which shall have provided wire transfer instructions to the Issuers or the Paying Agent. Such payment shall be in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

 

3.            PAYING
AGENT AND REGISTRAR. Initially, The Bank of New York Mellon Trust Company, N.A., the Trustee under the Supplemental Indenture, will act
as Paying Agent and Registrar. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Company or any of
its Subsidiaries may act in any such capacity.

 

    	 	A-6	 

     

    

 

4.            INDENTURE.
The Issuers issued the Notes under an Indenture dated as of May 23, 2019 (the “Base Indenture”), among the Issuers
and the Trustee, as supplemented by the Sixth Supplemental Indenture dated as of April 22, 2021 (the “Supplemental Indenture”),
among the Issuers and the Trustee. The terms of the Notes include those stated in the Supplemental Indenture. The Notes are subject to
all such terms, and Holders are referred to the Supplemental Indenture and such Act for a statement of such terms. To the extent any provision
of this Note conflicts with the express provisions of the Supplemental Indenture, the provisions of the Supplemental Indenture shall govern
and be controlling.

 

5.            OPTIONAL
REDEMPTION.

 

(a)            On
or after June 1, 2027, the Issuers shall have the option to redeem the Notes, in whole or in part, at the redemption prices (expressed
as percentages of principal amount) set forth below plus accrued and unpaid interest and Special Interest, if any, thereon to the applicable
redemption date, if redeemed during the twelve month period beginning on June 1 of the years indicated below:

 

	Year	 	Percentage	 
	2027	 	 	102.250	%
	2028	 	 	101.125	%
	2029	 	 	100.563	%
	2030 and thereafter	 	 	100.000	%

 

(b)            At
any time prior to June 1, 2024, the Issuers may on any one or more occasions redeem up to 40% of the aggregate principal amount of
the Notes (including the principal amount of any Additional Notes), at a redemption price of 104.500% of the principal amount thereof,
plus accrued and unpaid interest and Special Interest, if any, to the redemption date, with the net cash proceeds of one or more Equity
Offerings; provided that:

 

(1)            at
least 50% of the original aggregate principal amount of Notes issued under the Supplemental Indenture remains outstanding immediately
after the occurrence of such redemption, unless all such Notes are redeemed substantially concurrently; and

 

(2)            the
redemption must occur within 180 days of the date of the closing of such Equity Offering.

 

(c)            At
any time and from time to time prior to June 1, 2027, the Issuers may redeem outstanding Notes, in whole or in part, at a redemption
price equal to 100% of the principal amount thereof plus accrued and unpaid interest and Special Interest, if any, on such Notes
to the redemption date plus the Make-Whole Premium.

 

(d)            Notwithstanding
the foregoing, in connection with any tender offer for the Notes, including a Change of Control Offer or Asset Sale Offer, if Holders
of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not withdraw such Notes in such tender
offer and the Issuers, or any third party making a such tender offer in lieu of the Issuers, purchases all of the Notes validly tendered
and not withdrawn by such Holders, the Issuers or such third party will have the right upon not less than 10 nor more than 60 days’
prior notice, given not more than 30 days following such purchase date, to redeem all Notes that remain outstanding following such purchase
at a redemption price equal to the price offered to each other Holder in such tender offer plus, to the extent not included in the tender
offer payment, accrued and unpaid interest, if any, thereon, to, but not including, the date of such redemption.

 

    	 	A-7	 

     

    

 

6.            MANDATORY
REDEMPTION. Except as otherwise provided in Paragraph 7 below, the Issuers shall not be required to make mandatory redemption payments
with respect to the Notes.

 

7.            REPURCHASE
AT OPTION OF HOLDER.

 

(a)            If
a Change of Control Triggering Event occurs, the Issuers shall make an offer to repurchase all or any part (equal to $2,000 or an integral
multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount
thereof plus accrued and unpaid interest thereon, if any, to the date of purchase. Within 10 days following any Change of Control Triggering
Event, the Issuers shall transmit a notice to each Holder describing the transaction or transactions that constitute the Change of Control
and offering to repurchase Notes on the Change of Control Payment Date specified in such notice, pursuant to the procedures required by
the Supplemental Indenture and described in such notice.

 

(b)            If,
with respect to any Asset Sale, at the expiration of the 450-day period with respect to such Asset Sale, there remain Applicable Proceeds
in excess of the greater of $250.0 million and 1.0% of Consolidated Net Tangible Assets (such amount of Applicable Proceeds that are equal
to the greater of $250.0 million and 1.0% of Consolidated Net Tangible Assets, “Excess Proceeds”), the Company shall
make an offer pursuant to Section 4.11 of the Supplemental Indenture to all Holders (an “Asset Sale Offer”) and
all holders of other Indebtedness that is of equal priority with the Notes containing provisions requiring offers to purchase or redeem
with the proceeds of sales of assets to purchase the maximum principal amount of Notes and such other Indebtedness of equal priority that
may be purchased out of the Excess Proceeds. For the avoidance of doubt, the Company may make an Asset Sale Offer at any time within 450
days after the receipt of any Net Proceeds from an Asset Sale, and/or prior to an Asset Sale (subject to the occurrence of an Asset Sale),
or with respect to any Excess Proceeds. The offer price in any Asset Sale Offer will be payable in cash and equal to 100% of principal
amount of the subject Notes plus accrued and unpaid interest and Special Interest, if any, to the date of the purchase. If the aggregate
principal amount of Notes and such other Indebtedness of equal priority tendered into such Asset Sale Offer exceeds the amount of Excess
Proceeds, the Notes and such other Indebtedness of equal priority to be purchased shall be selected in accordance with the procedures
of the Depositary. If any Excess Proceeds remain after consummation of an Asset Sale Offer (such remaining Excess Proceeds, “Declined
Excess Proceeds”), then the Company or any Restricted Subsidiary thereof may use such Declined Excess Proceeds for any purpose
not otherwise prohibited by the Supplemental Indenture. Upon completion of each Asset Sale Offer, the amount of Applicable Proceeds and
Excess Proceeds shall be reset at zero. Holders of Notes that are the subject of an offer to purchase will receive an Asset Sale Offer
from the Issuers prior to any related purchase date and may elect to have such Notes purchased by completing the form entitled “Option
of Holder to Elect Purchase” on the reverse side of the Notes.

 

8.            [Reserved].

 

    	 	A-8	 

     

    

 

 

9.            DENOMINATIONS,
TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Supplemental Indenture. The Registrar and
the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Issuers may
require a Holder to pay any taxes and fees required by law or permitted by the Supplemental Indenture. The Issuers need not exchange or
register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed
in part. Also, the Issuers need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes
to be redeemed or during the period between a record date and the corresponding Interest Payment Date.

 

10.            PERSONS
DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes.

 

11.            AMENDMENT,
SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Supplemental Indenture or the Notes may be amended or supplemented with the
consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including, without limitation,
consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes). Any existing Default or compliance
with any provision of the Supplemental Indenture or the Notes (other than any provision relating to the right of any Holder to bring suit
for the enforcement of any payment of principal, premium, if any, any interest on the Note, on or after the scheduled due dates expressed
herein) may be waived, including by way of amendment, with the consent of the Holders of a majority in aggregate principal amount of the
then outstanding Notes (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange
offer for, Notes). Without the consent of any Holder of a Note, the Issuers and the Trustee may amend or supplement the Supplemental Indenture
or the Notes (i) to cure any ambiguity, mistake, defect or inconsistency, (ii) to provide for uncertificated Notes in addition
to or in place of certificated Notes, (iii) to provide for or confirm the issuance of Additional Notes, (iv) to provide for
the assumption of the Issuers’ obligations to Holders in the case of a merger or consolidation or sale of all or substantially all
of the Issuers’ assets, (v) to make any change that would provide any additional rights or benefits to the Holders or that
does not adversely affect the legal rights under the Supplemental Indenture of any such Holder, (vi) to provide for the issuance
of Exchange Notes pursuant to the Registration Rights Agreement or to comply with the requirements of the SEC as necessary to comply with
applicable law, (vii) to conform the Supplemental Indenture or the Notes to the “Description of Notes” section of the
Offering Memorandum, or (viii) to make any amendment to the provisions of the Supplemental Indenture or the Notes to eliminate the
effect of any Accounting Change or in the application thereof as described in the last paragraph of the definition of “GAAP.”

 

    	 	A-9	 

     

    

 

12.            DEFAULTS
AND REMEDIES. Each of the following is an Event of Default: (i) default for 30 consecutive days in the payment when due of interest
on the Notes, (ii) default in payment when due of the principal of or premium, if any, on the Notes, (iii) failure by the Company
or any of its Restricted Subsidiaries to comply with Section 5.01 of the Supplemental Indenture, (iv) failure by the Company
or any of its Restricted Subsidiaries for 30 consecutive days after written notice thereof has been given to the Company by the Trustee
or to the Company and the Trustee by the Holders of at least 30% of the principal amount of the Notes outstanding to comply with any of
their other covenants or agreements in the Supplemental Indenture, (v) default under any mortgage, indenture or instrument under
which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its
Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such Indebtedness
or guarantee now exists or is created after the date of the Supplemental Indenture, if that default: (a) is caused by a failure to
pay at final stated maturity the principal amount of such Indebtedness prior to the expiration of the grace period provided in such Indebtedness
on the date of such default (a “Payment Default”); or (b) results in the acceleration of such Indebtedness prior
to its express maturity; and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other
such Indebtedness under which there has been a Payment Default (measured at the time of the Payment Default) or the maturity of which
has been so accelerated, aggregates the greater of (1) $1,000 million and (2) 0.675% of Total Assets, (vi) failure by the
Company or any of its Restricted Subsidiaries to pay final judgments (measured when such judgment is rendered) which are non-appealable
aggregating in excess of the greater of (1) $1,000 million and (2) 0.675% of Total Assets, net of applicable insurance which
has not been denied in writing by the insurer, which judgments are not paid, discharged or stayed for a period of 60 days or (vii) certain
events of bankruptcy or insolvency with respect to the Company or any of its Significant Subsidiaries as set forth in the Supplemental
Indenture.

 

However, a Default under clause (iii), (iv), (v) or
(vi) of the previous paragraph will not constitute an Event of Default until the Trustee or the Holders of at least 30% in principal
amount of the outstanding Notes notify the Issuers of the Default and, with respect to clauses (iv) and (vi), the Issuers do not
cure such Default within the time specified in clause (iv) or (vi) of this paragraph after receipt of such notice; provided
that a notice of Default may not be given with respect to any action taken, and reported publicly or to Holders, more than two years prior
to such notice of Default.

 

In the case of an Event of Default arising from certain
events of bankruptcy or insolvency with respect to the Company, all outstanding Notes will become due and payable without further action
or notice. If any other Event of Default occurs and is continuing, the Trustee by notice to the Issuers or the Holders of at least 30%
in principal amount of the then outstanding Notes by notice to the Issuers and the Trustee may declare all the Notes to be due and payable.

 

Any Noteholder Direction provided by any one or more
Directing Holders must be accompanied by a Position Representation, which representation, in the case of a Default Direction shall be
deemed repeated at all times until the resulting Event of Default is cured or otherwise ceases to exist or the Notes are accelerated.
In addition, each Directing Holder must, at the time of providing a Noteholder Direction, make a Verification Covenant. In any case in
which the Holder is DTC or its nominee, any Position Representation or Verification Covenant required hereunder shall be provided by the
Beneficial Owner of the Notes in lieu of DTC or its nominee, and DTC shall be entitled to rely on such Position Representation and Verification
Covenant in delivering its direction to the Trustee.

 

    	 	A-10	 

     

    

 

If, following the delivery of a Noteholder Direction,
but prior to acceleration of the Notes, the Issuers determine in good faith that there is a reasonable basis to believe a Directing Holder
was, at any relevant time, in breach of its Position Representation and provide to the Trustee evidence that the Issuers have initiated
litigation in a court of competent jurisdiction seeking a determination that such Directing Holder was, at such time, in breach of its
Position Representation, and seeking to invalidate any Event of Default that resulted from the applicable Noteholder Direction, the cure
period with respect to such Default shall be automatically stayed and the cure period with respect to such Event of Default shall be automatically
reinstituted and any remedy stayed pending a final and non-appealable determination of a court of competent jurisdiction on such matter.
If, following the delivery of a Noteholder Direction, but prior to acceleration of the Notes, the Issuers provide to the Trustee an Officers’
Certificate stating that a Directing Holder failed to satisfy its Verification Covenant, the cure period with respect to such Default
shall be automatically stayed and the cure period with respect to any Event of Default that resulted from the applicable Noteholder Direction
shall be automatically reinstituted and any remedy stayed until such time as the Issuers provide the Trustee with an Officers’ Certificate
that the Verification Covenant has been satisfied; provided that the Issuers shall promptly deliver such Officers’ Certificate
to the Trustee upon becoming aware that the Verification Covenant has been satisfied. Any breach of the Position Representation (as evidenced
by the delivery to the Trustee of the Officers’ Certificate stating that a Directing Holder failed to satisfy its Verification Covenant)
shall result in such Holder’s participation in such Noteholder Direction being disregarded; and if, without the participation of
such Holder, the percentage of Notes held by the remaining Holders that provided such Noteholder Direction would have been insufficient
to validly provide such Noteholder Direction, such Noteholder Direction shall be void ab initio, with the effect that such Event of Default
shall be deemed never to have occurred, acceleration voided and the Trustee shall be deemed not to have received such Noteholder Direction
or any notice of such Default or Event of Default.

 

Notwithstanding anything in the preceding two paragraphs
to the contrary, any Noteholder Direction delivered to the Trustee during the pendency of an Event of Default as the result of a bankruptcy
or similar direction shall not require compliance with the foregoing paragraphs.

 

Holders may not enforce the Supplemental Indenture
or the Notes except as provided in the Supplemental Indenture. Subject to certain limitations, Holders of a majority in aggregate principal
amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power with respect to matters relating to
the Notes. The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except a Default or Event of Default
relating to the payment of principal or interest) if it determines that withholding notice is in their interest.

 

The Holders of a majority in aggregate principal
amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default
or Event of Default and its consequences under the Supplemental Indenture except a continuing Default or Event of Default in the payment
of interest on, or the principal of, the Notes. Any time period in the Base Indenture or the Supplemental Indenture to cure any actual
or alleged Default or Event of Default with respect to the Notes may be extended or stayed by a court of competent jurisdiction to the
extent such actual or alleged Default or Event of Default is the subject of litigation.

 

    	 	A-11	 

     

    

 

The Issuers are required to deliver to the Trustee
annually a statement regarding compliance with the Supplemental Indenture and the Base Indenture. Upon becoming aware of any Default or
Event of Default, the Issuers are required to deliver to the Trustee a statement specifying such Default or Event of Default and what
action the Issuers are taking or propose to take with respect thereto.

 

13.          TRUSTEE
DEALINGS WITH ISSUERS. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services
for any Issuer or its Affiliates, and may otherwise deal with any Issuer or its Affiliates, as if it were not the Trustee.

 

14.          NO
RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator, member or stockholder of the Issuers, as such, shall not have any
liability for any obligations of the Issuers under the Notes or the Supplemental Indenture or for any claim based on, in respect of, or
by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for the issuance of the Notes.

 

15.          GOVERNING
LAW. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTE AND THE SUPPLEMENTAL INDENTURE WITHOUT
GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY. EACH OF THE PARTIES HERETO AND THE HOLDERS AGREE TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF
NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE.

 

16.          AUTHENTICATION.
This Note shall not be valid until authenticated by the manual or electronic signature of the Trustee or an authenticating agent.

 

17.          ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants
by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

18.          ADDITIONAL
RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of Notes under
the Supplemental Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all the rights set forth in
the Registration Rights Agreement.

 

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

 

    	 	A-12	 

     

    

 

The Issuers will furnish to any Holder upon written
request and without charge a copy of the Supplemental Indenture, the Base Indenture and/or the Registration Rights Agreement, as applicable.
Requests may be made to the Issuers:

 

400 Atlantic Street

Stamford, Connecticut 06901

Attention: Corporate Secretary

Telecopier No.: (314) 965-6440

 

    	 	A-13	 

     

    

 

ASSIGNMENT FORM

 

To assign this Note, fill in the form below:

 

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

 

_____________________________________

(Insert assignee’s legal name)

 

______________________________________________________________________

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

 

______________________________________________________________________

 

______________________________________________________________________

 

______________________________________________________________________

 

______________________________________________________________________

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

 

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

 

Date:______________________________

 

Your Signature:_____________________________________________________

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

 

Signature Guarantee*:________________________________________________

 

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

 

    	 	A-14	 

     

    

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to have this Note purchased
by the Issuers pursuant to Section 4.11 or 4.16 of the Supplemental Indenture, check the appropriate box below:

 

 ̈
Section 4.11      ̈
Section 4.16

 

If you want to elect to have only part of the Note
purchased by the Issuers pursuant to Section 4.11 or Section 4.16 of the Supplemental Indenture, state the amount you elect
to have purchased:

 

$ _______________________

 

Date:____________________

 

Your Signature:_____________________________________________________

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

 

Tax Identification No.: _______________________________________________

 

Signature Guarantee*: _______________________________________________

 

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

 

    	 	A-15	 

     

    

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL
NOTE*

 

The following exchanges of a part of this Global
Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note
for an interest in this Global Note, have been made:

 

	Date of Exchange
	 	 	Amount of
 decrease in
 Principal Amount 
 of this Global
 Note	 	Amount of
 increase in
 Principal Amount
 of this Global
 Note	 	Principal Amount
 of this Global 
 Note following 
 such decrease (or
 increase)	 	Signature of
 authorized officer
 of Trustee or Note
 Custodian
	 	 	 	 	 	 	 	 	 	 

 

    	 	A-16	 

     

    

 

EXHIBIT B

 

FORM OF CERTIFICATE OF TRANSFER

 

CCO Holdings, LLC

CCO Holdings Capital Corp.

400 Atlantic Street

Stamford, Connecticut 06901

 

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 700

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

 

		Re:	CCO Holdings, LLC and CCO Holdings Capital Corp.

 ̈ 4.500% Senior Notes due 2033 (CUSIP [               ])
(the “Notes”)

 

Reference is hereby made to the Indenture, dated
as of May 23, 2019, among CCO Holdings, LLC (“CCO Holdings”), CCO Holdings Capital Corp. (together with
CCO Holdings, the “Issuers”), and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented
by the Sixth Supplemental Indenture dated as of April 22, 2021 (the “Supplemental Indenture”). Capitalized
terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture.

 

___________________ (the “Transferor”)
owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $_____________________________
in such Note[s] or interests (the “Transfer”), to ___________________________ (the “Transferee”),
as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that:

 

[CHECK ALL THAT APPLY]

 

 ̈     1.
Check if Transferee will take delivery of a beneficial interest in the Rule 144A Global Note or a Definitive Note Pursuant to Rule 144A.
The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended
(the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive
Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive
Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such
Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting
the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities laws of any state of the
United States. Upon consummation of the proposed Transfer in accordance with the terms of the Supplemental Indenture, the transferred
beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Rule 144A Global Note and/or the Definitive Note and in the Supplemental Indenture and the Securities Act.

 

    	 	B-1	 

     

    

 

 ̈     2.
Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Definitive Note pursuant to Regulation
S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly,
the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States and (x) at
the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or
through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows
that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention
of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act and (iii) the transaction
is not part of a plan or scheme to evade the registration requirements of the Securities Act. Upon consummation of the proposed transfer
in accordance with the terms of the Supplemental Indenture, the transferred beneficial interest or Definitive Note will be subject to
the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive
Note and in the Supplemental Indenture and the Securities Act. If the Transfer of the beneficial interest occurs prior to the expiration
of the 40-day distribution compliance period set forth in Regulation S, the transferred beneficial interest will be held immediately thereafter
through Euroclear or Clearstream.

 

 ̈     3.
Check and complete if Transferee will take delivery of a beneficial interest in a Definitive Note pursuant to any provision of the Securities
Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable
to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities
Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies
that (check one):

 

 ̈     (i) such
Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; or

 

 ̈     (ii) such
Transfer is being effected to the Issuers or a subsidiary thereof; or

 

 ̈     (iii) such
Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus
delivery requirements of the Securities Act; or

 

 ̈     (iv) such
Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of
the Securities Act other than Rule 144A, Rule 144 or Rule 904, and the Transferor hereby further certifies that it has
not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the
transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the requirements
of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D
to the Supplemental Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor
has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the
proposed transfer in accordance with the terms of the Supplemental Indenture, the transferred beneficial interest or Definitive Note will
be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Note and/or the
Definitive Notes and in the Supplemental Indenture and the Securities Act.

 

    	 	B-2	 

     

    

 

 ̈     4.
Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive Note.

 

 ̈     (i) Check
if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under
the Securities Act and in compliance with the transfer restrictions contained in the Supplemental Indenture and any applicable blue sky
securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Supplemental Indenture and
the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed
Transfer in accordance with the terms of the Supplemental Indenture, the transferred beneficial interest or Definitive Note will no longer
be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted
Definitive Notes and in the Supplemental Indenture.

 

 ̈     (ii) Check
if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904
under the Securities Act and in compliance with the transfer restrictions contained in the Supplemental Indenture and any applicable blue
sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Supplemental Indenture
and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed
Transfer in accordance with the terms of the Supplemental Indenture, the transferred beneficial interest or Definitive Note will no longer
be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted
Definitive Notes and in the Supplemental Indenture.

 

 ̈     (iii) Check
if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from
the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the
transfer restrictions contained in the Supplemental Indenture and any applicable blue sky securities laws of any State of the United States
and (ii) the restrictions on transfer contained in the Supplemental Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Supplemental
Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Supplemental Indenture.

 

    	 	B-3	 

     

    

 

This certificate and the statements contained herein
are made for your benefit and the benefit of the Issuers.

 

	 	 
	[Insert Name of Transferor]	 

 

	By	 	 
	 	Name:	 
	 	Title:	 

 

	Dated:	 	 

 

    	 	B-4	 

     

    

 

ANNEX A TO CERTIFICATE OF TRANSFER

 

	1.	The Transferor owns and proposes
to transfer the following:

 

[CHECK ONE OF (a) OR (b)]

 

	 ̈	(a)	a beneficial interest in the:
	 	 	 
	 ̈	(i)	Rule 144A Global Note (CUSIP __________), or
	 	 	 
	 ̈	(ii)	Regulation S Global Note (CUSIP _________), or
	 	 	 
	 ̈	(b)	a Restricted Definitive Note.

 

	2.	After the Transfer the Transferee
will hold:

 

[CHECK ONE]

 

	 ̈	(a)	a beneficial interest in the:
	 	 	 
	 ̈	(i)	Rule 144A Global Note (CUSIP __________), or
	 	 	 
	 ̈	(ii)	Regulation S Global Note (CUSIP _________), or
	 	 	 
	 ̈	(iii)	Unrestricted Global Note (CUSIP _________); or
	 	 	 
	 ̈	(b)	a Restricted Definitive Note; or
	 	 	 
	 ̈	(c)	an Unrestricted Definitive Note,

 

in accordance with the terms of the Supplemental Indenture.

 

    	 	B-5	 

     

    

 

EXHIBIT C

 

FORM OF CERTIFICATE OF EXCHANGE

 

CCO Holdings, LLC

CCO Holdings Capital Corp.

400 Atlantic Street

Stamford, Connecticut 06901

 

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 700

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

 

		Re:	CCO Holdings, LLC and CCO Holdings Capital Corp.

 ̈ 4.500% Senior Notes due 2033 (CUSIP [              ])
(the “Notes”)

 

Reference is hereby made to the Indenture, dated
as of May 23, 2019, among CCO Holdings, LLC (“CCO Holdings”), CCO Holdings Capital Corp. (together with
CCO Holdings, the “Issuers”), and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented
by the Sixth Supplemental Indenture dated as of April 22, 2021 (the “Supplemental Indenture”). Capitalized
terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture.

 

__________________________ (the “Owner”)
owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $____________________________
in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

 

1.            Exchange
of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests
in an Unrestricted Global Note

 

 ̈     (i) Check
if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection
with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global
Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s
own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the
Global Notes and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the “Securities Act”),
(iii) the restrictions on transfer contained in the Supplemental Indenture and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired
in compliance with any applicable blue sky securities laws of any state of the United States. If the Exchange is from beneficial interest
in a Regulation S Global Note to beneficial interest in an Unrestricted Global Note, the Owner further certifies that it is either (x) a
non-U.S. Person to whom Notes would be transferred in accordance with Regulation S or (y) a U.S. Person who purchased Notes in a
transaction that did not require registration under the Securities Act.

 

    	 	C-1	 

     

    

 

 ̈     (ii) Check
if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection with the Exchange of
the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Supplemental Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities
laws of any state of the United States.

 

 ̈     (iii) Check
if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s
Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities
Act, (iii) the restrictions on transfer contained in the Supplemental Indenture and the Private Placement Legend are not required
in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States. If the Exchange is from beneficial interest in a Regulation S Global
Note to an Unrestricted Definitive Note, the Owner further certifies that it is either (x) a non-U.S. Person to whom Notes could
be transferred in accordance with Regulation S or (y) a U.S. Person who purchased Notes in a transaction that did not require registration
under the Securities Act.

 

 ̈     (iv) Check
if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted
Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Supplemental Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities
Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any
state of the United States.

 

    	 	C-2	 

     

    

 

2.            Exchange
of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests
in Restricted Global Notes 

 

 ̈     (i) Check
if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection with the Exchange of
the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the
Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. If the
Exchange is from beneficial interest in a Regulation S Global Note to a Restricted Definitive Note, the Owner further certifies that it
is either (x) a non-U.S. Person to whom Notes could be transferred in accordance with Regulation S or (y) a U.S. Person who
purchased Notes in a transaction that did not require registration under the Securities Act. Upon consummation of the proposed Exchange
in accordance with the terms of the Supplemental Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions
on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Supplemental Indenture and
the Securities Act.

 

 ̈     (ii) Check
if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of
the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE]  ̈Rule 144A
Global Note or  ̈ Regulation S Global Note with an equal principal amount, the Owner hereby
certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance
with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation
of the proposed Exchange in accordance with the terms of the Supplemental Indenture, the beneficial interest issued will be subject to
the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Supplemental
Indenture and the Securities Act.

 

    	 	C-3	 

     

    

 

This certificate and the statements contained herein
are made for your benefit and the benefit of the Issuers.

 

	 	 
	[Insert Name of Transferor]	 

 

	By	 	 
	 	Name:	 
	 	Title:	 

 

	Dated:	 	 

 

    	 	C-4	 

     

    

 

EXHIBIT D

 

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

 

CCO Holdings, LLC

CCO Holdings Capital Corp.

400 Atlantic Street

Stamford, Connecticut 06901

 

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 700

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

 

		Re:	CCO Holdings, LLC and CCO Holdings Capital Corp.

 ̈ 4.500% Senior Notes due 2033 (CUSIP [              ])
(the “Notes”)

 

Reference is hereby made to the Indenture, dated
as of May 23, 2019, among CCO Holdings, LLC (“CCO Holdings”), CCO Holdings Capital Corp. (together with
CCO Holdings, the “Issuers”), and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented
by the Sixth Supplemental Indenture dated as of April 22, 2021 (the “Supplemental Indenture”). Capitalized
terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture.

 

In connection with our proposed purchase of $____________
aggregate principal amount of:

 

(i)      ̈     a
beneficial interest in a Global Note, or

 

(ii)      ̈     a
Definitive Note,

 

we confirm that:

 

1.            We
understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions and conditions set forth
in the Supplemental Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or
any interest therein except in compliance with, such restrictions and conditions and the United States Securities Act of 1933, as amended
(the “Securities Act”).

 

2.            We
understand that the offer and sale of the Notes have not been registered under the Securities Act, and that the Notes and any interest
therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts
for which we are acting as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (a) to
the Issuers or any subsidiary thereof, (b) in accordance with Rule 144A under the Securities Act to a “qualified institutional
buyer” (as defined therein), (c) to an institutional “accredited investor” (as defined below) that, prior to such
transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Issuers a signed letter substantially in
the form of this letter and an Opinion of Counsel in form reasonably acceptable to the Issuers to the effect that such transfer is in
compliance with the Securities Act, (d) outside the United States in accordance with Rule 904 of Regulation S under the Securities
Act, (e) pursuant to the provisions of Rule 144(d) under the Securities Act or (f) pursuant to an effective registration
statement under the Securities Act, and we further agree to provide to any person purchasing the Definitive Note or beneficial interest
in a Global Note from us in a transaction meeting the requirements of clauses (a) through (e) of this paragraph a notice advising
such purchaser that resales thereof are restricted as stated herein.

 

    	 	D-1	 

     

    

 

3.            We
understand that, on any proposed resale of the Notes or beneficial interest therein, we will be required to furnish to you and the Issuers
such certifications, legal opinions and other information as you and the Issuers may reasonably require to confirm that the proposed sale
complies with the foregoing restrictions. We further understand that the Notes purchased by us will bear a legend to the foregoing effect.

 

4.            We
are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under
the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits
and risks of our investment in the Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our
or its investment.

 

5.            We
are acquiring the Notes or beneficial interest therein purchased by us for our own account or for one or more accounts (each of which
is an institutional “accredited investor”) as to each of which we exercise sole investment discretion.

 

You and the Issuers are entitled to rely upon this
letter and are irrevocably authorized to produce this letter or a copy to any interested party in any administrative or legal proceedings
or official inquiry with respect to the matters covered hereby.

 

	 	 
	[Insert Name of Transferor]	 

 

	By	 	 
	 	Name:	 
	 	Title:	 

 

	Dated:	 	 

 

    	 	D-2

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