Document:

Exhibit 10.1

        

         

          

        EXECUTION VERSION

      

       

          

      FIRST AMENDMENT TO AMENDED AND RESTATED

      

      

      LOAN AGREEMENT

      

      

      This FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AGREEMENT, dated as of November 14, 2018 (this “First Amendment”) to that certain Amended and Restated Revolving Credit, Term Loan and Security Agreement, dated as of June 5, 2018 (as amended, restated, amended and restated, refinanced,
          replaced, supplemented, modified or otherwise changed from time to time, the “Loan Agreement”), by and among Motorcar Parts of America, Inc., a corporation organized
          under the laws of the State of New York (“MPA”, and together with each Person organized under the laws of a State of the United States joined thereto as a borrower from
          time to time, collectively, the “US Borrowers”, and each, a “US Borrower”), D & V
          Electronics Ltd., a corporation amalgamated and existing under the laws of the Province of British Columbia (“D&V” and together with each Person organized under the
          laws of Canada joined thereto as a borrower from time to time, collectively, the “Canadian Borrowers”, and each, a “Canadian Borrower”; the Canadian Borrowers and the US Borrowers are referred to therein each as a “Borrower” and collectively as “Borrowers”), each Person joined thereto as a guarantor from time to time, the financial institutions which are now or which thereafter become a party thereto (collectively,
          the “Lenders” and each individually a “Lender”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for the Lenders (in such capacity, the “Agent”).

      

      

      WHEREAS, Borrowers, Agent and the Required Lenders wish to amend certain terms and provisions of the Loan Agreement as hereafter set
          forth.

      

      

      NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the parties hereto hereby agree as follows:

      

      

      1.            Defined

              Terms.    Any capitalized term used herein and not defined shall have the meaning assigned to it in the Loan Agreement.

      

      

      2.            Amendments.

      

      

      (a)           New Definitions.  The following new definitions are hereby added to the Loan Agreement in appropriate alphabetical order:

      

      

      “First Amendment” means that certain Fist Amendment to
          Amended and Restated Loan Agreement, dated as of November 14, 2018, by and among Borrowers, Agent and the Lenders party thereto.

      

      

      “First Amendment Effective Date” means the date on which
          the conditions precedent to the effectiveness of the First Amendment are fulfilled or waived.

      

      

      “Revised or Restated Monthly Financial Statements” shall
          have the meaning set forth in Section 9.9 hereof.

      

      

      “Revised or Restated Quarterly Financial Statements”
          shall have the meaning set forth in Section 9.8 hereof.

      

      

      
        
          

      

      
      (b)        Section 9.8 of the Loan Agreement
          is hereby amended by inserting the following sentence immediately following the last sentence of Section 9.8:

      

      

      “Notwithstanding the forgoing, with respect to the deliverables under this Section 9.8 for the quarter ended on September 30, 2018
          and the related Compliance Certificate, the Company shall furnish Agent and Lenders such deliverables on or before January 14, 2019 or promptly after the same are available (“Revised

              or Restated Quarterly Financial Statements”); provided, that, the Company shall continue to  furnish Agent and Lenders with internally prepared
          deliverables under this Section 9.8 as required without giving effect to this sentence and without giving effect to any accounting adjustments which will be reflected in the Revised or Restated Quarterly Financial Statements until the Revised or
          Restated Quarterly Financial Statements are delivered to Agent and Lenders.”

      

      

      (c)        Section 9.9 of the Loan Agreement
          is hereby amended by inserting the following sentence immediately following the last sentence of Section 9.9:

      

      

      “Notwithstanding the forgoing, with respect to the deliverables under this Section 9.9 for the month ended on October 31, 2018 and
          the month ending on November 30, 2018, the Company shall furnish Agent and Lenders such deliverables on or before January 14, 2019 or promptly after the same are available (“Revised

              or Restated Monthly Financial Statements”); provided, that, the Company shall continue to furnish Agent and Lenders with internally prepared deliverables
          under this Section 9.9 as required without giving effect to this sentence and without giving effect to any accounting adjustments which will be reflected in the Revised or Restated Monthly Financial Statements until the Revised or Restated
          Monthly Financial Statements are delivered to Agent and Lenders.”

      

      

      3.           Conditions

              to Effectiveness.  The effectiveness of this First Amendment is subject to the fulfillment of each of the following conditions precedent (the date such conditions are fulfilled or are waived by Agent is hereinafter referred to as
          the “First Amendment Effective Date”):

      

      

      (a)          Representations and Warranties; No Event of Default.  The following statements shall be true and correct: (i) the representations and warranties contained in this First Amendment, ARTICLE V
          of the Loan Agreement and in each other Loan Document, certificate, or other writing delivered to Agent or any Lender pursuant hereto or thereto on or prior to the First Amendment Effective Date are true and correct in all material respects (and
          in all respects if such representation and warranty is already qualified by materiality or by reference to a Material Adverse Effect) on and as of the First Amendment Effective Date as though made on and as of such date, except to the extent that
          any such representation or warranty expressly relates solely to an earlier date (in which case such representation or warranty shall be true and correct in all material respects (and in all respects if such representation and warranty is already
          qualified by materiality or by reference to a Material Adverse Effect) on and as of such earlier date) and (ii) no Default or Event of Default shall have occurred and be continuing on the First Amendment Effective Date or would result from this
          First Amendment becoming effective in accordance with its terms.

      

      

      
        2

        
          

      

      (b)          Execution of Amendment.  Agent and the Required Lenders shall have executed this First Amendment and shall have received a counterpart to this First Amendment, duly executed by each Loan Party.

      

      

      (c)          Payment of Fees, Etc.  Borrowers shall have paid, on or before the First Amendment Effective Date, all fees and invoiced costs and expenses then payable by Borrowers pursuant to the Loan Documents,
          including, without limitation, Section 16.9 of the Loan Agreement.  All fees under this Section 3(c) shall be fully earned and payable as of the First Amendment Effective Date, and may be charged by Agent to the US Borrowers’ Account.

      

      

      4.            Representations

              and Warranties.  Each Loan Party represents and warrants as follows:

      

      

      (a)         Organization, Good Standing, Etc.  Each Loan Party (i) is a corporation, limited liability company or limited partnership duly organized, validly existing and in good standing under the laws of the
          state or jurisdiction of its organization, (ii) has all requisite power and authority to conduct its business as now conducted and as presently contemplated, and to execute and deliver this First Amendment, and to consummate the transactions
          contemplated hereby and by the Loan Agreement, as amended hereby, and (iii) is duly qualified to do business and is in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction
          of its business makes such qualification necessary, except (solely for the purposes of this subclause (iii)) where the failure to be so qualified or in good standing could not reasonably be expected to result in a Material Adverse Effect.

      

      

      (b)          Authorization, Etc.  The execution, delivery and performance by each Loan Party of this First Amendment, and the performance of the Loan Agreement, as amended hereby, (i) have been duly authorized
          by all necessary action, (ii) do not and will not contravene any of its Organizational Documents or any Applicable Law in any material respect or any material Contractual Obligation binding on or otherwise affecting it or any of its properties,
          (iii) do not and will not result in or require the creation of any Lien (other than pursuant to any Loan Document) upon or with respect to any of its properties, and (iv) do not and will not result in any default, noncompliance, suspension,
          revocation, impairment, forfeiture or nonrenewal of any permit, license, authorization or approval applicable to its operations or any of its properties.

      

      

      (c)         Governmental Approvals.  No authorization or approval or other action by, and no notice to or filing with, any Governmental Body is required in connection with the due execution, delivery and
          performance of this First Amendment by the Loan Parties, and the performance of the Loan Agreement, as amended hereby.

      

      

      (d)         Enforceability of this First Amendment.  This First Amendment and the Loan Agreement, as amended hereby, when delivered hereunder, will be a legal, valid and binding obligation of each Loan Party,
          enforceable against such Loan Party in accordance with the terms thereof, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally.

      

      

      
        3

        
          

      

      (e)        Representations and Warranties; No Event of Default.  The statements in Section 3(a) of this First Amendment are true and correct.

      

      

      5.          Release. 

          Each Loan Party hereby acknowledges and agrees that:  (a) neither it nor any of its Affiliates has any claim or cause of action against Agent or any Lender (or any of their respective Affiliates, officers, directors, employees, attorneys,
          consultants or agents) and (b) Agent and each Lender has heretofore properly performed and satisfied in a timely manner all of its obligations to the Loan Parties and their Affiliates under the Loan Agreement and the other Loan Documents that are
          required to have been performed on or prior to the date hereof.  Notwithstanding the foregoing, Agent and the Lenders wish (and the Loan Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or
          circumstances would impair or otherwise adversely affect any of Agent and the Lenders’ rights, interests, security and/or remedies under the Loan Agreement and the other Loan Documents.  Accordingly, for and in consideration of the agreements
          contained in this First Amendment and other good and valuable consideration, each Loan Party (for itself and its Affiliates and the successors, assigns, heirs and representatives of each of the foregoing) (collectively, the “Releasors”) does hereby fully, finally, unconditionally and irrevocably release and forever discharge Agent, each Lender and each of their respective Affiliates, officers,
          directors, employees, attorneys, consultants and agents (collectively, the “Released Parties”) from any and all debts, claims, obligations, damages, costs, attorneys’
          fees, suits, demands, liabilities, actions, proceedings and causes of action, in each case, whether known or unknown, contingent or fixed, direct or indirect, and of whatever nature or description, and whether in law or in equity, under contract,
          tort, statute or otherwise, which any Releasor has heretofore had or now or hereafter can, shall or may have against any Released Party by reason of any act, omission or thing whatsoever done or omitted to be done on or prior to the First
          Amendment Effective Date directly arising out of, connected with or related to this First Amendment, the Loan Agreement or any other Loan Document, or any act, event or transaction related or attendant thereto, or the agreements of Agent or any
          Lender contained therein, or the possession, use, operation or control of any of the assets of any Loan Party, or the making of any Loans or other advances, or the management of such Loans or advances or the Collateral.

      

      

      6.            No
              Novation; Reaffirmation and Confirmation.

      

      

      (a)          This First Amendment does not
          extinguish the obligations for the payment of money outstanding under the Loan Agreement or discharge or release the lien or priority of any mortgage, security agreement, pledge agreement or any other security therefore.  Nothing herein contained
          shall be construed as a substitution or novation of the Obligations outstanding under the Loan Agreement or instruments securing the same, which shall remain in full force and effect, except as modified hereby or by instruments executed
          concurrently herewith.  Nothing expressed or implied in this First Amendment shall be construed as a release or other discharge of Borrowers under the Loan Agreement, or the other Loan Documents, as amended hereby, from any of its obligations and
          liabilities as “Borrowers” thereunder.

      

      

      
        4

        
          

      

      (b)         Borrowers hereby (i) acknowledge
          and reaffirm its obligations as set forth in each Loan Document, as amended hereby, (ii) agree to continue to comply with, and be subject to, all of the terms, provisions, conditions, covenants, agreements and obligations applicable to it set
          forth in each Loan Document, as amended hereby, which remain in full force and effect, and (iii) confirm, ratify and reaffirm that the security interest granted to Agent, for the benefit of Agent and the Lenders, pursuant to the Loan Documents,
          as amended hereby, in all of its right, title, and interest in all then existing and thereafter acquired or arising Collateral in order to secure prompt payment and performance of the Obligations, is continuing and is and shall remain unimpaired
          and continue to constitute a first priority security interest (subject to Permitted Liens) in favor of Agent, for the benefit of Agent and the Lenders, with the same force, effect and priority in effect both immediately prior to and after
          entering into this First Amendment.

      

      

      7.            Miscellaneous.

      

      

      (a)         Continued Effectiveness of the Loan Agreement and the Other Loan Documents.  Except as otherwise expressly provided herein, the Loan Agreement and the other Loan Documents are, and shall
          continue to be, in full force and effect and are hereby ratified and confirmed in all respects, except that on and after the First Amendment Effective Date (i) all references in the Loan Agreement to “this Agreement”, “hereto”, “hereof”,
          “hereunder” or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this First Amendment and (ii) all references in the other Loan Documents to the “Loan Agreement”, “thereto”, “thereof”, “thereunder”
          or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this First Amendment.  To the extent that the Loan Agreement or any other Loan Document purports to pledge to Agent, or to grant to Agent, a
          security interest or lien, such pledge or grant is hereby ratified and confirmed in all respects.  Except as expressly provided herein, the execution, delivery and effectiveness of this First Amendment shall not operate as an amendment of any
          right, power or remedy of Agent and the Lenders under the Loan Agreement or any other Loan Document, nor constitute an amendment of any provision of the Loan Agreement or any other Loan Document.

      

      

      (b)          Counterparts.  This First Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all
          of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of this First Amendment by fax or electronic mail shall be equally as effective as delivery of an original executed counterpart of this
          First Amendment. Original signature pages shall promptly be provided to Agent.

      

      

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

      

      

      
        5

        
          

      

      (d)         Costs and Expenses.  Borrowers agree to pay on demand all fees, costs and expenses of Agent and the Lenders in connection with the preparation, execution and delivery of this First Amendment.

      

      

      (e)          First Amendment as Other Document.  Each Loan Party hereby acknowledges and agrees that this First Amendment constitutes an “Other Document” under the Loan Agreement.  Accordingly, it shall be an
          Event of Default under the Loan Agreement if (i) any representation or warranty made by any Loan Party under or in connection with this First Amendment, which representation or warranty is (A) subject to a materiality or a Material Adverse Effect
          qualification, shall have been incorrect in any respect when made or deemed made, or (B) not subject to a materiality or a Material Adverse Effect qualification, shall have been incorrect in any material respect when made or deemed made or (ii)
          any Loan Party shall fail to perform or observe any term, covenant or agreement contained in this First Amendment (subject to any applicable notice or grace periods under the Loan Agreement).

      

      

      (f)         Severability.  Any provision of this First Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
          unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provision in any other jurisdiction.

      

      

      (g)         Governing Law.  This First Amendment shall be governed by and construed in accordance with, the laws of the State of New York.

      

      

      (h)         Waiver of Jury Trial.  THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE THEIR RESPECTIVE RIGHTS TO A
            JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS FIRST AMENDMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY
            CLAIMS.

      

      

      [Remainder of page intentionally left blank]

       

        

      
        6

        
          

      

      IN WITNESS WHEREOF, the parties hereto have
          caused this First Amendment to be executed and delivered by their respective duly authorized officers as of the date first written above.

      

      

      	 	
              US BORROWER:

            
	 	 
	 	
              MOTORCAR PARTS OF AMERICA, INC.

            
	 	
              

              

            
	 	
              By: /s/ Selwyn Joffe

            
	 	
              Name:  Selwyn Joffe

            
	 	
              Title:    Chairman, President and Chief Executive Officer

            

      
         

        

        Signature Page to First Amendment to A&R Loan Agreement

         

        

      

      
        
          

      

      	 	
              CANADIAN BORROWER:

            
	 	 
	 	
              D & V ELECTRONICS LTD.

            
	 	 
	 	
              By: /s/ Selwyn Joffe

            
	 	
              Name:  Selwyn Joffe

            
	 	
              Title:    Chairman, President and Chief Executive Officer

            

      
         

        

        Signature Page to First Amendment to A&R Loan Agreement

         

        

      

      
        
          

      

      	 	
              AGENT AND LENDER:

            
	 	 
	 	
              PNC BANK, NATIONAL ASSOCIATION

            
	 	 
	 	
              By: /s/ Albert Sarkis

            
	 	
              Name:  Albert Sarkis

            
	 	
              Title:    Senior Vice President

            

      
         

        

        Signature Page to First Amendment to A&R Loan Agreement

         

        

      

      
        
          

      

      	 	
              LENDERS:

            
	 	 
	 	
              ISRAEL DISCOUNT BANK OF NEW YORK

            
	 	 
	 	
              By: /s/ Michael D. Gullo

            
	 	
              Name: Michael D. Gullo

            
	 	
              Title:   First Vice President

            
	 	 
	 	
              By: /s/ Barry Solomon

            
	 	
              Name:  Barry Solomon

            
	 	
              Title:    First Vice President

            

      
         

        

        Signature Page to First Amendment to A&R Loan Agreement

         

        

      

      
        
          

      

      	 	
              WEBSTER BUSINESS CREDIT CORPORATION

            
	 	 
	 	
              By: /s/ Harvey Winter

            
	 	
              Name:  Harvey Winter

            
	 	
              Title:    Senior Vice President

            

      
         

        

        Signature Page to First Amendment to A&R Loan Agreement

         

        

      

      
        
          

      

      	 	
              BANK HAPOALIM B.M.

            
	 	 
	 	
              By: /s/ Lenroy Hackett

            
	 	
              Name:  Lenroy Hackett

            
	 	
              Title:    Senior Vice President

            
	 	 
	 	
              By: /s/ Marline Alexander

            
	 	
              Name:  Marline Alexander

            
	 	
              Title:    First Vice President

            

      
         

        

        Signature Page to First Amendment to A&R Loan Agreement

         

        

      

      
        
          

      

      	 	
              CATHAY BANK

            
	 	 
	 	
              By: /s/ Albert D. Perez

            
	 	
              Name:  Albert D. Perez

            
	 	
              Title:    First Vice President

            

      
         

        

        Signature Page to First Amendment to A&R Loan AgreementWELLS FARGO & COMPANY 8-K

 

Exhibit 4.1

 

[Face
of Note]

 

Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the
name of Cede & Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.

	CUSIP
NO. 95001D3E8	PRINCIPAL AMOUNT: $___________

REGISTERED
NO. __

 

 

WELLS
FARGO & COMPANY

 

MEDIUM-TERM
NOTE, SERIES T

 

Due
Nine Months or More From Date of Issue

 

Notes
due November 20, 2022

 

WELLS
FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter called the
“Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal sum of __________________
DOLLARS ($_________) on November 20, 2022 (the “Stated Maturity Date”) and to pay interest thereon from November
20, 2018 or from the most recent Interest Payment Date to which interest has been paid or duly provided for semi-annually on each
May 20 and November 20, commencing May 20, 2019, and at Maturity (each, an “Interest Payment Date”), at the
rate per annum specified below until the principal hereof is paid or made available for payment. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
Date for such interest next preceding such Interest Payment Date. The Regular Record Date for an Interest Payment Date shall be
one Business Day prior to such Interest Payment Date. If an Interest Payment Date is not a Business Day, interest on this Security
shall be payable on the next day that is a Business Day, with the same force and effect as if made on such Interest Payment Date,
and without any interest or other payment with respect to the delay. “Business Day” shall mean a day, other
than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required
by law or regulation to close in New York, New York.

 

Except
as described below for the first Interest Period, on each Interest Payment Date, interest will be paid for the period commencing
on and including the immediately preceding Interest Payment Date and ending on and including the day immediately preceding that
Interest Payment Date. This period is referred to as an “Interest Period.” The first Interest Period will

 

    	 	 	 

    	 

    

 

commence
on and include November 20, 2018 and end on and include May 19, 2019. Interest on this Security will be computed on the basis
of a 360-day year of twelve 30-day months.

 

The
interest rate on this Security that will apply during an Interest Period will be as follows:

 

	Commencing
November 20, 2018 and ending November 19, 2020
	 	

        3.50%
        per annum

	Commencing
November 20, 2020 and ending November 19, 2021
		

        3.75%
        per annum

	Commencing
November 20, 2021 and ending November 19, 2022
		

        4.00%
        per annum

Any
interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.

Payment
of interest on this Security will be made in immediately available funds at the office or agency of the Company maintained for
that purpose in the City of Minneapolis, Minnesota 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; provided, however, that, at the option of the Company, payment
of interest may be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the
Security Register or by wire transfer to such account as may have been designated by such Person. Payment of principal of and
interest on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company
maintained for that purpose in the City of Minneapolis, Minnesota. Notwithstanding the foregoing, for so long as this Security
is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made
to the Depositary by wire transfer of immediately available funds.

This
Security is redeemable at the option of the Company, in whole but not in part, on any Optional Redemption Date at a Redemption
Price equal to 100% of the principal amount of this Security to be redeemed, plus any accrued but unpaid interest to, but excluding,
the Redemption Date. The “Optional Redemption Dates” are quarterly on the 20th day of each February,
May, August and November, commencing November 20, 2020 and ending August 20, 2022. Notice of any redemption will be mailed at
least 5 but not more than 30 days before the applicable Redemption Date to the Holder hereof. Unless the Company defaults in the
payment of the Redemption Price, on or after the Redemption Date, interest will cease to accrue on this Security or the portion
hereof called for redemption.

This
Security is not subject to repayment at the option of the Holder hereof prior to November 20, 2022. This Security is not entitled
to any sinking fund.

 

    	 	2	 

     

    

 

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

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

 

 

[The
remainder of this page has been left intentionally blank]

 

 

 

 

    	 	3	 

     

    

 

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

DATED:

 

 

	 	WELLS FARGO & COMPANY
	 	 	 
	 	By:	 	 
	 	 	 
	 	 	Its: 
	 	 	 
	 	Attest:	 
	 	 	 
	 	 	Its:

 

 

TRUSTEE’S
CERTIFICATE OF

AUTHENTICATION

This
is one of the Securities of the 

series
designated therein described

in
the within-mentioned Indenture.

 

	CITIBANK, N.A.,	 
	 	as Trustee	 
	 	 	 
	By:	 	 
	 	Authorized Signature	 
	 	 	 
	OR	 
	 	 	 
	WELLS FARGO BANK, N.A.,	 
	 	as Authenticating Agent for the Trustee	 
	 	 	 
	By:	 	 
	 	Authorized Signature	 

 

 

    	 	4	 

     

    

 

[Reverse
of Note]

 

 

WELLS
FARGO & COMPANY

 

MEDIUM-TERM
NOTE, SERIES T

 

Due
Nine Months or More From Date of Issue

 

Notes
due November 20, 2022

 

This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
and to be issued in one or more series under an indenture dated as of February 21, 2017, as amended or supplemented from
time to time (herein called the “Indenture”), between the Company and Citibank, N.A., as Trustee (herein called
the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and
are to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes,
Series T, of the Company. The Securities of this series will bear interest at a fixed rate or a floating rate. The Securities
of this series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the
Holder at different times or not at all and be denominated in different currencies.

The
Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented
by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities
issued to and registered in the names of, the beneficial owners or their nominees.

The
Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security.

Modification
and Waivers 

The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by
the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding
of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders of a majority
in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting
together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those
provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture
by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders
of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding

 

    	 	5	 

     

    

 

upon
such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or
in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

Defeasance

Section 403
and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating
to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants, upon
compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions
of Section 401 of the Indenture shall apply to this Security.

Authorized
Denominations

This
Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which
is an integral multiple of $1,000.

Registration
of Transfer

Upon
due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis,
Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for
an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject
to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental
charge imposed in connection therewith.

This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that
it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing
agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days
after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines
that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z)
an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable
pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, bearing interest at
the same rate, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating
a like amount.

This
Security 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 of the Depositary
or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global Security will not be entitled
to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under
the Indenture.

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this

 

    	 	6	 

     

    

 

Security
is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.

Obligation
of the Company Absolute

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

No
Personal Recourse

No
recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator,
stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability
being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released.

Defined
Terms

All
terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless
otherwise defined in this Security.

Governing
Law

This
Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles
of conflicts of laws.

 

    	 	7	 

     

    

 

ABBREVIATIONS

 

 

The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

	TEN COM	--	as tenants in common
	 	 	 
	TEN ENT	--	as tenants by the entireties
	 	 	 
	JT TEN	--	as joint tenants with right
	 	 	of survivorship and not
	 	 	as tenants in common

 

	UNIF GIFT MIN ACT --  	 	 Custodian 	 
	 	(Cust)	 	(Minor)

 

	Under Uniform Gifts to Minors Act	 
	 	 
	 	 
	(State)	 

 

Additional abbreviations
may also be used though not in the above list.

 

FOR VALUE RECEIVED,
the undersigned hereby sell(s) and transfer(s) unto

 

	Please Insert Social Security or	 
	Other Identifying Number of Assignee
	 	 
	 	 

 

 

	 
	 
	 

(Please
print or type name and address including postal zip code of Assignee)

 

 

    	 	8	 

     

    

 

the
within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and appoint __________________ attorney to
transfer the said Security on the books of the Company, with full power of substitution in the premises.

 

 

	Dated:  	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

 

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

 

 

    	 	9

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