Document:

EX-4.4

 Exhibit 4.4 

TRICON RESIDENTIAL INC. 

AMENDED AND RESTATED RESTRICTED SHARE PLAN 
  

	1.	 Interpretation 

In this Plan, the following terms shall have the following meanings: 

 

	 	(a)	 “Administrators” means the Board or such other persons as may be designated by the Board
from time to time; 

  

	 	(b)	 “Affiliate” has the meaning ascribed thereto in Section 1.3 of National Instrument 45-106 – Prospectus and Registration Exemptions; 

  

	 	(c)	 “AIP” means the Corporation’s Annual Incentive Plan, as it may be amended or amended
and restated from time to time; 

  

	 	(d)	 “Award” means a grant of Restricted Shares to a Participant under the Plan;

  

	 	(e)	 “Award Amount” means the amount determined by the Administrators to be awarded to a
Participant under the Corporation’s AIP (with any such amount awarded from and after the date hereof to be in Canadian dollars for Participants resident in Canada and in U.S. dollars for Participants resident in the United States);

  

	 	(f)	 “Board” means the Board of Directors of the Corporation; 

 

	 	(g)	 “Board Change of Control” has the meaning ascribed thereto in Section 7;

  

	 	(h)	 “Cause” shall, in respect of a Participant, have the meaning attributed to such term (or
the term “Just Cause”) in such Participant’s employment agreement with the Corporation or any of its Subsidiaries (if any) or, in the event such Participant is not a party to a written employment agreement with the Corporation or any
of its Subsidiaries, shall mean anything that constitutes just cause for termination of employment at common law; 

  

	 	(i)	 “Change of Control” means the completion of any of the following occurrences:

  

	 	(i)	 the acquisition, directly or indirectly and by any means whatsoever, by any one shareholder, or group of
shareholders acting jointly or in concert, of more than 33.33% of the outstanding Shares; 

  

	 	(ii)	 a sale by the Corporation (in one or more transactions) of all or substantially all of its assets to an
unrelated third party, or other liquidation or dissolution; 

  

	 	(iii)	 a merger, consolidation, arrangement or other reorganization (collectively, a
“Reorganization”) of the Corporation which results in the Corporation’s 

	 	 
shareholders immediately prior to the Reorganization owning less than 50% of the voting shares of the resulting entity after the Reorganization; or 

 

	 	(iv)	 as a result of or in connection with a contested election of directors of the Corporation, the nominees
named in the most recent management information circular of the Corporation for election as directors of the Corporation do not constitute 66.67% of the directors of the Corporation, 

in each case, except in the event that such transactions are solely among the Corporation and its Affiliates. 

 

	 	(j)	 “Code” shall mean the United States Internal Revenue Code of 1986, as
amended from time to time and any successor thereto; 

  

	 	(k)	 “Corporation” means Tricon Residential Inc. and its successors and assigns;

  

	 	(l)	 “Custodian” means any custodian appointed by the Corporation under the Custodian Agreement;

  

	 	(m)	 “Custodian Agreement” means any custodian agreement between the Corporation and the
Custodian under which (i) the Corporation will fund the purchase of Shares on the open market by the Custodian for use as Restricted Shares hereunder, and (ii) the Custodian will hold Restricted Shares as nominee, and on behalf of, for
certain Participants and release Released Shares as such Participants may request after the expiry of the Restrictions applicable to such Shares, as any such agreement may be amended, supplemented or amended and restated from time to time;

  

	 	(n)	 “Eligible Participant” means any officer, director or employee of the Corporation or any of
its Subsidiaries as determined by the Administrators from time to time; 

  

	 	(o)	 “Event of Termination” means either an Event of Termination (Accelerated Vesting), Event of
Termination (Normal Vesting) or an Event of Termination (Forfeited Vesting); 

  

	 	(p)	 “Event of Termination (Forfeited Vesting)” means: 

 

	 	(i)	 the termination of employment with Cause of a Participant with the Corporation or a Subsidiary of the
Corporation (excluding, for greater certainty, termination of employment arising from the death of such Participant); or 

  

	 	(ii)	 the voluntary termination of employment of a Participant, resignation or leaving of employment with the
Corporation or a Subsidiary of the Corporation (except a resignation for Good Reason or Retirement and 

  
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except for the purpose of entering into new employment with the Corporation or a Subsidiary of the Corporation); 

 

	 	(q)	 “Event of Termination (Accelerated Vesting)” means: 

 

	 	(i)	 the termination of employment of a Participant with the Corporation or a Subsidiary of the Corporation due
to such Participant’s Incapacity to Work; 

  

	 	(ii)	 the termination of employment of a Participant with the Corporation or a Subsidiary of the Corporation on
the death of such Participant; or 

  

	 	(iii)	 the termination of employment of a Participant with the Corporation or a Subsidiary of the Corporation:

  

	 	(1)	 without Cause; or 

 

	 	(2)	 upon the Participant’s resignation for Good Reason; 

 

	 	(r)	 “Event of Termination (Normal Vesting)” means: 

 

	 	(i)	 the voluntary termination of employment of a Participant upon his or her Retirement; or

  

	 	(ii)	 a Participant who is a director of the Corporation ceases to be a director of the Corporation;

  

	 	(s)	 “Fair Value”, in respect of an Award, means the accounting fair value of a Restricted Share
as at the grant date of such Award (denominated in the same currency as the Award), as reasonably determined by the Administrators in good faith, taking into account the Restrictions applicable to the Restricted Shares to be purchased in
satisfaction of such Award; 

  

	 	(t)	 “Good Reason” shall, in respect of a Participant, have the meaning attributed to such term
in such Participant’s written employment agreement with the Corporation or any of its Subsidiaries (if any) or, in the event such Participant is not a party to a written employment agreement with the Corporation or any of its Subsidiaries,
shall mean any reason that would be considered to amount to constructive dismissal at common law; 

  

	 	(u)	 “Incapacity to Work” shall, in respect of a Participant, have the meaning attributed to
such term in such Participant’s written employment agreement with the Corporation or any of its Subsidiaries (if any) or in the event such Participant is not a party to a written employment agreement with the Corporation or any of its
Subsidiaries, shall mean any incapacity or inability by a Participant, including any physical or mental incapacity, disease or affliction of the Participant as determined by a legally qualified medical practitioner or by a court, which has

  
 3 

	 	 
prevented the Participant from performing the essential duties of his or her position as an officer or employee (taking into account reasonable accommodation by the Corporation) for a continuous
period of six (6) months or for any cumulative period of 180 days in any eighteen (18)-consecutive month period; 

  

	 	(v)	 “Non-Discounted Amount” means, in respect of each
Award, an amount of cash equal to the product of (i) the Award Amount multiplied by (ii) a fraction, the numerator of which is the closing price of the Shares on the TSX (with respect to Awards denominated in Canadian dollars) or the NYSE
(with respect to Awards denominated in U.S. dollars) on the trading day immediately preceding the date of grant of such Award and the denominator of which is the Fair Value applicable to such Award; 

 

	 	(w)	 “NYSE” means the New York Stock Exchange; 

 

	 	(x)	 “Participants” means such Eligible Participants from time to time who are granted Awards
pursuant to the Plan; 

  

	 	(y)	 “Person” includes an individual, partnership, unincorporated association, organization,
syndicate, body corporate, joint venture, trust and a trustee, executor, administrator or other legal or personal representative, the Crown and any other entity recognized by law; 

 

	 	(z)	 “Plan” means this Amended and Restated Restricted Share Plan, as it may be amended from
time to time; 

  

	 	(aa)	 “Released Shares” means the unrestricted Shares released and delivered to or at the
direction of Participants on request, following the expiry of any applicable Restrictions; 

  

	 	(bb)	 “Restricted Shares” means Shares acquired by the Custodian on the open market, using funds
deposited with it by the Corporation; 

  

	 	(cc)	 “Restrictions” means the restrictions applicable to particular Restricted Shares purchased
in respect of an Award, as determined by the Administrators in their discretion (and taking into account any relief therefrom which the Administrators may provide in specific circumstances, such as an Event of Termination of a Participant);

  

	 	(dd)	 “Retirement” means the termination (other than for Cause) or resignation of a Participant
from his or her capacity with the Corporation of any of its Subsidiaries at age 65 or older; 

  

	 	(ee)	 “Section 409A of the Code” shall mean Section 409A of the Code, the
Treasury Regulations promulgated thereunder as in effect from time to time, and related guidance as may be amended from time to time; 

  
 4 

	 	(ff)	 “Shares” means the previously issued common shares in the capital of the Corporation;

  

	 	(gg)	 “Subsidiary” has the meaning ascribed thereto in the Securities Act (Ontario); and

  

	 	(hh)	 “TSX” means the Toronto Stock Exchange. 

 

	2.	 Purpose 

The purpose of the Plan is to advance the interests of the Corporation and its shareholders by attracting, retaining and
motivating officers, directors and employees of the Corporation and its Subsidiaries, and providing such parties a performance incentive for continued and improved service with the Corporation and its Subsidiaries and by enhancing such persons’
contribution to increased profits by promoting an alignment of interests between such persons and the shareholders of the Corporation, through the direct acquisition by the Participants of Shares hereunder. 

 

	3.	 Administration of the Plan 

The Plan shall be administered by the Administrators, and the Corporation will be responsible for all costs relating to the
administration of the Plan. Subject to the provisions hereof and the Administrators’ duty to act without unfair prejudice or oppressiveness to a Participant or holder of Restricted Shares under the Plan, the Administrators shall have the power
and authority to: 
  

	 	(a)	 adopt policies, rules and regulations and prescribe forms and procedures for implementing the Plan;

  

	 	(b)	 determine the eligibility of Persons to participate in the Plan, which Eligible Participants shall be
Participants, when Awards to Eligible Participants shall be granted, the Award Amount to be granted to each Participant and the Restrictions applicable to any Restricted Shares held by the Custodian for the benefit of a Participant hereunder;

  

	 	(c)	 interpret and construe the provisions of the Plan; 

 

	 	(d)	 subject to regulatory requirements, make exceptions to the Plan in circumstances which they determine to be
exceptional; 

  

	 	(e)	 engage the Custodian; 

 

	 	(f)	 engage a third party administrator to perform some or all of the administrative duties of the Administrators
under the Plan; and 

  

	 	(g)	 take such other steps as they determine to be necessary or desirable to give effect to the Plan.

  
 5 

 Each determination or action made or taken by the Administrators pursuant to the Plan,
including interpretation of the Plan, shall be final and conclusive for all purposes and binding on all parties, absent manifest error. 
  

	4.	 Award Agreement  

All Awards granted hereunder shall be evidenced by an agreement between the Corporation and the Participant substantially in
the form of the attached Schedule 1. The terms of each such agreement need not be identical. 
  

	5.	 Grant of Awards 

 

	 	(a)	 Subject to the terms of the Plan, the Administrators may, from time to time, grant Awards to Participants in
such amounts and on such terms that the Administrators, in their absolute discretion, determine. 

  

	 	(b)	 The Corporation shall provide to the Custodian an amount of cash equal to the
Non-Discounted Amount for such Award with instructions to the Custodian to use all of such funds to purchase Shares on the open market, at such prices as the Custodian determines in its reasonable discretion.
In satisfaction of any Award granted hereunder, all such Shares shall be (i) held as Restricted Shares by the Custodian as nominee (and not in trust) for certain Participants for holding on behalf of the Participant in accordance with the
Custodian Agreement and the terms of this Plan and (ii) subject to forfeiture in accordance with the Restrictions applicable to such Restricted Shares. 

  

	 	(c)	 Concurrent with the determination to grant an Award to a Participant, the Administrators shall determine the
Restrictions applicable to the Restricted Shares relating to such Award and document them in the Award confirmation provided to the Participant. 

  

	 	(d)	 For greater certainty, Restricted Shares held as nominee and on behalf of a Participant shall be
beneficially owned by such Participant upon and following the Custodian’s acquisition of such Restricted Shares as nominee hereunder, subject to the applicable Restrictions. 

  
 6 

	6.	 Release of Restricted Shares 

After fulfillment or completion of the Restrictions applicable to particular Restricted Shares held by the Custodian as nominee
and on behalf of the Participant, the Custodian will release or dispose of such Shares on behalf of the Participant as directed in writing by the Participant. 
  

	7.	 Change of Control 

In connection with any Change of Control (including an event constituting a Change of Control under subclause (iv) of the
definition of such term (a “Board Change of Control”), all remaining Restrictions applicable to Restricted Shares shall immediately expire and the Corporation shall confirm to the Custodian that all such Shares may be released as
directed by, or disposed of on behalf of, such Participants immediately prior to (or, in the case of a Board Change of control, upon) the completion of such Change of Control. 
  

	8.	 Acceleration on Transaction with Third Party 

Notwithstanding anything else contained herein, the Administrators may, in connection with any transaction involving the
Corporation or its shareholders (including, without limitation, an offering of securities), determine that some or all of the remaining Restrictions applicable to Restricted Shares shall immediately expire. If this occurs, the Corporation shall
confirm to the Custodian that all such Shares may be released as directed by, or disposed of on behalf of, such Participants. 
  

	9.	 Award Confirmation 

Upon the grant of each Award, an Award confirmation, substantially in the form of Schedule 2, shall be delivered by the
Administrators to the Participant in question. The provisions of the various Award confirmations issued under the Plan need not be identical. 
  

	10.	 Effect of Termination on Participation in the Plan 

 

	 	(a)	 Upon the occurrence of an Event of Termination (Accelerated Vesting) that occurs prior to the expiry of the
Restrictions applicable to the Restricted Shares held by the Custodian on behalf of the terminated Participant, the Custodian will release or dispose of such Shares on behalf of the Participant as directed in writing by the Participant.

  

	 	(b)	 Upon the occurrence of an Event of Termination (Forfeited Vesting) that occurs prior to the expiry of the
Restrictions applicable to Restricted Shares held by the Custodian on behalf of a terminated Participant, those Restricted Shares for which Restrictions remain unfulfilled will be forfeited by such Participant and transferred by the Custodian to or
at the direction of the Corporation for no consideration and the Participant will execute and deliver all such instruments and documents as the Corporation may request to effect such transfer. 

  
 7 

	 	(c)	 Upon the occurrence of an Event of Termination (Normal Vesting) that occurs prior to the expiry of the
Restrictions applicable to Restricted Shares held by the Custodian on behalf of a terminated Participant, those Restricted Shares for which Restrictions remain unfulfilled will continue to be held by the Custodian as nominee and on behalf of such
Participant and be subject to such Restrictions and to the terms of this Plan. 

  

	 	(d)	 If Restricted Shares are forfeited and transferred to the Corporation under Section 10(b), the
Restricted Shares shall be deemed to have been donated to the Corporation by the applicable Participant for no consideration and, at the election of the Administrators, (i) be returned to treasury for cancellation, (ii) be re-directed by the Corporation to the Custodian to satisfy other Awards granted to Participants under this Plan, or (iii) be sold by the Custodian in the open market, with the proceeds of such sale being
returned to, or transferred at the direction of, the Corporation. 

 Notwithstanding the provisions of this
Section 10, the Administrators may, in their sole and absolute discretion, at any time prior to or following any Event of Termination, determine to waive any remaining Restrictions that have not expired as at the date of such Event of
Termination, in which event the Custodian will release or dispose of such Shares on behalf of the Participant as directed in writing by the Participant. 
  

	11.	 Payment of Dividends  

Unless otherwise determined by the Administrators, all dividends declared and paid in respect of Restricted Shares held as
nominee and for the benefit of a Participant and subject to such determination shall be reinvested by the Custodian on behalf of such Participant in additional Shares to be held as nominee and for the benefit of such Participant, with any such
additional Shares to be subject to the same Restrictions as the Restricted Shares on which such dividends were declared and paid. 
  

	12.	 Voting 

The Participants shall be entitled to exercise (or cause the Custodian to exercise on their behalf) voting rights attached to
Restricted Shares in respect of all or any matters or business arising at a particular meeting of shareholders. 
  

	13.	 Withholding Taxes 

The Corporation or its Affiliates or the Custodian may take such steps as are considered necessary or appropriate for the
withholding of any taxes which the Corporation or its Affiliate are required by any law or regulation of any governmental authority whatsoever to withhold in connection with any Award or Restricted Share, including the withholding of all or any
portion of any payment to a Participant or the withholding of the release of Shares to be released under the Plan, until such time as the Participant has paid the Corporation or its Affiliate for any amount which the Corporation and its Affiliates
are required to withhold with respect to such 

  
 8 

 
taxes or the Participant establishes to the Corporation’s satisfaction that all such taxes have been paid to the appropriate taxing authority. Further, the Corporation may withhold from any
remuneration, fees, dividends or other amounts payable to a Participant such amounts as may be required from time to time to satisfy the withholding obligations imposed on the Corporation or its Affiliates by any taxing authority in respect of taxes
of any kind. The Corporation may instruct the Custodian, without any further action by, consent from or notice to the Participant, to sell (on behalf of the applicable Participant) all or a portion of such Participant’s Restricted Shares in
such amount as may be required to satisfy any such withholding obligation, and direct the proceeds from such sale by paid to the Corporation (on behalf of the applicable Participant) to satisfy such withholding obligation and any withholding
obligation arising from such sale, with any surplus proceeds released to the Participant. 
  

	14.	 No Representation or Warranty 

The Corporation makes no representation or warranty as to the future market value of any Shares distributed in accordance with
the provisions of the Plan. 
  

	15.	 Transferability 

Subject to the terms of this Section, Restricted Shares may not be assigned. Restricted Shares may be released to the
Participant, and, upon the Participant’s death, the legal representative of his or her estate or any other person who acquires his or her rights in respect of a Restricted Share by bequest or inheritance. A Person to whom a Restricted Share is
released may request such Shares to be released only in his or her own name or in his or her capacity as a legal representative. 
  

	16.	 Amendments to the Plan 

The Board reserves the right, in its absolute discretion, to amend, suspend or terminate this Plan, or any portion thereof, at
any time without obtaining the approval of shareholders of the Corporation, subject to those provisions of applicable law and regulatory requirements (including the rules, regulations and policies of the TSX), if any, that require the approval of
shareholders. Any amendment to any provision of the Plan will be subject to any required regulatory or governmental approvals. 
  

	17.	 Termination of Plan 

The Administrators may terminate this Plan at any time in their absolute discretion. If the Plan is so terminated, no further
Awards shall be granted, but the Restricted Shares then outstanding shall continue in full force and effect in accordance with the provisions of this Plan. 
  

	18.	 Compliance with Statutes, Regulations and Policies 

 

	 	(a)	 The administration of the Plan shall be subject to and performed in conformity with all applicable laws,
regulations, orders of governmental or regulatory authorities and the requirements of any stock exchange on which the Shares are listed. Each Participant shall comply with all such laws, regulations, rules, orders

  
 9 

	 	 
and requirements, and shall furnish the Corporation with any and all information and undertakings, as may be required to ensure compliance therewith. 

 

	 	(b)	 The Corporation intends that the Plan and all Restricted Shares be construed to avoid the imposition of
additional taxes, interest, and penalties pursuant to Section 409A of the Code to the extent applicable. Notwithstanding the Corporation’s intention, in the event any Restricted Share is subject to such additional taxes, interest or
penalties pursuant to Section 409A of the Code, the Administrators may, in their sole discretion and without a Participant’s prior consent, amend the Plan (subject to Section 16), adopt policies and procedures, or take any other
actions (including amendments, policies, procedures and actions with retroactive effect) as are necessary or appropriate to (i) exempt the Plan and/or any Restricted Share from the application of Section 409A of the Code,
(ii) preserve the intended tax treatment of any such Restricted Share, or (iii) comply with the requirements of Section 409A of the Code, including without limitation any such regulations, guidance, compliance programs, and other
interpretative authority that may be issued after the date of the grant. In no event shall the Corporation or any of its Affiliates be liable for any additional tax, interest or penalties that may be imposed on a Participant under Section 409A
of the Code or any damages for failing to comply with Section 409A of the Code. 

  

	19.	 Right to Employment 

Nothing in the Plan or any Award shall confer upon any person any right to continue in the employ of the Corporation or any
Subsidiary thereof, or affect in any way the right of the Corporation or any Subsidiary thereof to terminate his or her employment at any time. 
  

	20.	 Successor Corporation 

The Plan applies without any further formality or action to any corporation resulting from the amalgamation of the Corporation
with one or more other corporations. 
  

	21.	 Governing Law 

The Plan, and any and all determinations made and actions taken in connection with the Plan, shall be governed by and construed
in accordance with the laws of the province of Ontario and the federal laws of Canada applicable therein. 
  

	22.	 Incentive Compensation Clawback Policy 

Notwithstanding anything else in this Plan, all grants of Restricted Shares made pursuant to this Plan shall be subject to the
Corporation’s Incentive Compensation Clawback Policy. 

  
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 ADOPTED as of this 7th day of December, 2021. 

 

			
	TRICON RESIDENTIAL INC.
		
	 Per:
	 	 /s/ David Veneziano

		 	 Authorized Signatory

  
 11 

 SCHEDULE 1 

AGREEMENT 

This agreement is entered into this _________ day of _____________, 20__, between Tricon Residential Inc. (the
“Corporation”) and ________________________ (the “Participant”) pursuant to the Amended and Restated Restricted Share Plan (the “Plan”) adopted by the Corporation on December 7, 2021, as amended
from time to time. All capitalized terms used but not otherwise defined in this agreement shall have the meanings attributed to them in the Plan. 

Pursuant to the Plan and in consideration of C$1.00 paid and services provided to the Corporation by the Participant, the
Corporation agrees to grant an Award Amount of [C$/US$]______________________1 to the Participant in accordance with the terms of the Plan. The grant of the Award and the Restrictions
applicable to such Award are confirmed by the Award Confirmation attached to this agreement. 
 The granting of the Award
(and, following the expiry or termination of the Restrictions applicable to such Shares, the release to the Participant of Shares acquired as a result of this Award), are subject to the terms and conditions of the Plan, all of which are incorporated
into and form an integral part of this agreement. 
 This agreement shall be binding upon and enure to the benefit of the
Corporation, its successors and assigns and the Participant and the legal representatives of his or her estate and any other person who acquires the Participant’s rights in respect of the Restricted Shares relating to this Award by bequest or
inheritance. 
 By executing this agreement, the Participant confirms and acknowledges that he or she has not been induced
to enter into this agreement or acquire any Restricted Shares relating to this Award by expectation of employment or continued employment with the Corporation. In addition, to the extent the Corporation engages a third party administrator to perform
some or all of the administrative duties of the Administrators under the Plan, such as an Internet-based administration platform, which also includes the availability of a broker-assisted exercise process, the Participant agrees to follow the
procedures established by the Corporation or such third party administrator with respect to the expiry of the Restrictions applicable to his or her Restricted Shares. 

 

			
	TRICON RESIDENTIAL INC.
		
	Per:	 	                            

		 	 Name:

		 	 Title:

  

	1 	 Note to draft: This should reflect the discounted value. 

					
	 IN WITNESS WHEREOF
  

             

Witness
	 	

	  	     
  

             

Participant

  
 - 2 - 

 SCHEDULE 2 

AWARD CONFIRMATION 
  

			
	 TO:
	  	 (the “Participant”)

  

Pursuant to the Amended and Restated Restricted Share Plan (the “Plan”) adopted by Tricon Residential Inc.
(the “Corporation”) on December 7, 2021 as amended from time to time, and an agreement between the Corporation and the Participant dated as of_________________, 20__, the Corporation confirms the grant to the Participant of an
award (the “Award”) of _________ Restricted Shares (as defined in the Plan), having an Award Amount equal to [C$/US$]___________.2 

Restrictions applicable to the Restricted Shares to be acquired in connection with this Award shall be as follows: 

 

	 	(a)	 the Restricted Shares shall vest on _______________________. 

 

	 	(b)	 [insert additional applicable Restrictions, if any] 

The Award and any Restricted Shares acquired in connection therewith are subject to the terms and conditions of the Plan. 

DATED this ________ day of____________ ________ 

 

			
	TRICON RESIDENTIAL INC.
		
	Per:	 	                             
                   
	 Name:

	 Title:

  

	2 	 Note to draft: This should reflect the discounted value.Exhibit 4.1

      

       

      INDENTURE

       

      Dated as of December 8, 2021

       

      Among

       

      KKR GROUP FINANCE CO. X LLC,

       

      THE GUARANTORS NAMED HEREIN

       

      and

       

      THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

       

      as Trustee

       

      
        
          

      

      
      TABLE OF CONTENTS

      

      	

            	 	
              Page

            
	 	 	 
	
              ARTICLE 1

            
	
              Definitions and Other Provisions of General Application

            
	 
	
              Section 1.01.

            	
              Definitions

            	
              1

            
	
              Section 1.02.

            	
              Compliance Certificates and Opinions

            	
              10

            
	
              Section 1.03.

            	
              Form of Documents Delivered to Trustee

            	
              10

            
	
              Section 1.04.

            	
              Acts of Holders; Record Dates

            	
              11

            
	
              Section 1.05.

            	
              Notices, Etc., to Trustee, Company and Guarantors

            	
              13

            
	
              Section 1.06.

            	
              Notice to Holders; Waiver

            	
              14

            
	
              Section 1.07.

            	
              Reserved

            	
              15

            
	
              Section 1.08.

            	
              Effect of Headings and Table of Contents

            	
              15

            
	
              Section 1.09.

            	
              Successors and Assigns

            	
              15

            
	
              Section 1.10.

            	
              Separability Clause

            	
              15

            
	
              Section 1.11.

            	
              Benefits of Indenture

            	
              15

            
	
              Section 1.12.

            	
              Governing Law, Jurisdiction, Venue

            	
              15

            
	
              Section 1.13.

            	
              Legal Holidays

            	
              15

            
	
              Section 1.14.

            	
              No Recourse Against Others

            	
              16

            
	
              Section 1.15.

            	
              Waiver of Jury Trial

            	
              16

            
	
              Section 1.16.

            	
              Compliance with Applicable Law

            	
              16

            
	
              ARTICLE 2

            
	
              Security Forms

            
	 
	
              Section 2.01.

            	
              Forms Generally

            	
              17

            
	
              Section 2.02.

            	
              Form of Legend for Global Securities

            	
              17

            
	
              Section 2.03.

            	
              Form of Trustee’s Certificate of Authentication

            	
              18

            
	
              ARTICLE 3

            
	
              The Securities

            
	 
	
              Section 3.01.

            	
              Amount Unlimited; Issuable in Series

            	
              18

            
	
              Section 3.02.

            	
              Denominations

            	
              21

            
	
              Section 3.03.

            	
              Execution, Authentication, Delivery and Dating

            	
              22

            
	
              Section 3.04.

            	
              Temporary Securities

            	
              23

            
	
              Section 3.05.

            	
              Registration, Registration of Transfer and Exchange

            	
              24

            
	
              Section 3.06.

            	
              Mutilated, Destroyed, Lost and Stolen Securities

            	
              26

            
	
              Section 3.07.

            	
              Payment of Interest; Interest Rights Preserved

            	
              26

            
	
              Section 3.08.

            	
              Persons Deemed Owners

            	
              28

            
	
              Section 3.09.

            	
              Cancellation

            	
              28

            
	
              Section 3.10.

            	
              Computation of Interest

            	
              28

            
	
              Section 3.11.

            	
              CUSIP or ISIN Numbers

            	
              28

            
	
              Section 3.12.

            	
              Original Issue Discount

            	
              29

            

      

      

      
        ii

        
          

      

      	
              Section 3.13.

            	
              General Provisions Relating to Global Securities

            	
              29

            
	
              ARTICLE 4

            
	
              Satisfaction and Discharge

            
	 
	
              Section 4.01.

            	
              Satisfaction and Discharge of Indenture

            	
              29

            
	
              Section 4.02.

            	
              Application of Trust Money

            	
              31

            
	
              ARTICLE 5

            
	
              Remedies

            
	 
	
              Section 5.01.

            	
              Events of Default

            	
              31

            
	
              Section 5.02.

            	
              Acceleration of Maturity; Rescission and Annulment

            	
              33

            
	
              Section 5.03.

            	
              Collection of Indebtedness and Suits for Enforcement by Trustee

            	
              34

            
	
              Section 5.04.

            	
              Trustee May File Proofs of Claim

            	
              35

            
	
              Section 5.05.

            	
              Trustee May Enforce Claims Without Possession of Securities

            	
              35

            
	
              Section 5.06.

            	
              Application of Money Collected

            	
              36

            
	
              Section 5.07.

            	
              Limitation on Suits

            	
              36

            
	
              Section 5.08.

            	
              Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities

            	
              37

            
	
              Section 5.09.

            	
              Rights and Remedies Cumulative

            	
              37

            
	
              Section 5.10.

            	
              Delay or Omission Not Waiver

            	
              37

            
	
              Section 5.11.

            	
              Control by Holders

            	
              37

            
	
              Section 5.12.

            	
              Waiver of Past Defaults

            	
              38

            
	
              Section 5.13.

            	
              Undertaking for Costs

            	
              38

            
	
              Section 5.14.

            	
              Waiver of Usury, Stay or Extension Laws

            	
              38

            
	
              Section 5.15.

            	
              Restoration of Rights and Remedies

            	
              39

            
	 
	
              ARTICLE 6

            
	
              The Trustee

            
	 
	
              Section 6.01.

            	
              Certain Duties and Responsibilities of Trustee

            	
              39

            
	
              Section 6.02.

            	
              Notice of Defaults

            	
              40

            
	
              Section 6.03.

            	
              Certain Rights of Trustee

            	
              40

            
	
              Section 6.04.

            	
              Not Responsible for Recitals or Issuance of Securities

            	
              42

            
	
              Section 6.05.

            	
              May Hold Securities

            	
              42

            
	
              Section 6.06.

            	
              Money Held in Trust

            	
              42

            
	
              Section 6.07.

            	
              Compensation and Reimbursement

            	
              42

            
	
              Section 6.08.

            	
              Conflicting Interests

            	
              44

            
	
              Section 6.09.

            	
              Corporate Trustee Required; Eligibility

            	
              44

            
	
              Section 6.10.

            	
              Resignation and Removal; Appointment of Successor

            	
              45

            
	
              Section 6.11.

            	
              Acceptance of Appointment by Successor

            	
              46

            
	
              Section 6.12.

            	
              Merger, Conversion, Consolidation or Succession to Business

            	
              47

            
	
              Section 6.13.

            	
              Preferential Collection of Claims Against Company

            	
              48

            
	
              Section 6.14.

            	
              Trustee’s Application for Instructions from the Company

            	
              48

            

      

      

      
        iii

        
          

      

      	
              ARTICLE 7

            
	
              Holders’ Lists and Reports by the Trustee, the Company and the Guarantors

            
	 
	
              Section 7.01.

            	
              Company to Furnish Trustee Names and Addresses of Holders

            	
              48

            
	
              Section 7.02.

            	
              Preservation of Information; Communications to Holders

            	
              48

            
	
              Section 7.03.

            	
              Reports by Trustee

            	
              49

            
	
              Section 7.04.

            	
              Reports by the Company and the Guarantors

            	
              49

            
	 
	
              ARTICLE 8

            
	
              Consolidation, Merger, Sale of Assets and Other Transactions

            
	 
	
              Section 8.01.

            	
              Company and Guarantors May Merge or Transfer Assets on Certain Terms

            	
              49

            
	
              Section 8.02.

            	
              Successor Person Substituted

            	
              50

            
	 
	
              ARTICLE 9

            
	
              Supplemental Indentures

            
	 
	
              Section 9.01.

            	
              Supplemental Indentures Without Consent of Holders

            	
              50

            
	
              Section 9.02.

            	
              Supplemental Indentures With Consent of Holders

            	
              52

            
	
              Section 9.03.

            	
              Execution of Supplemental Indentures

            	
              53

            
	
              Section 9.04.

            	
              Effect of Supplemental Indentures

            	
              53

            
	
              Section 9.05.

            	
              Reserved

            	
              53

            
	
              Section 9.06.

            	
              Notice of Supplemental Indenture; Reference in Securities to Supplemental Indentures

            	
              53

            
	 
	
              ARTICLE 10

            
	
              Covenants

            
	 
	
              Section 10.01.

            	
              Payment of Principal, Premium, if any, and Interest

            	
              54

            
	
              Section 10.02.

            	
              Maintenance of Office or Agency

            	
              54

            
	
              Section 10.03.

            	
              Money for Securities Payments to Be Held in Trust

            	
              55

            
	
              Section 10.04.

            	
              Statement by Officers as to Default

            	
              56

            
	
              Section 10.05.

            	
              Waiver of Certain Covenants

            	
              56

            
	
              Section 10.06.

            	
              No Conflicts with Sanctions Law

            	
              57

            
	 
	
              ARTICLE 11

            
	
              Redemption of Securities

            
	 
	
              Section 11.01.

            	
              Applicability of Article

            	
              57

            
	
              Section 11.02.

            	
              Election to Redeem; Notice to Trustee

            	
              57

            
	
              Section 11.03.

            	
              Selection by Trustee of Securities to Be Redeemed

            	
              57

            
	
              Section 11.04.

            	
              Notice of Redemption

            	
              58

            
	
              Section 11.05.

            	
              Deposit of Redemption Price

            	
              59

            
	
              Section 11.06.

            	
              Securities Payable on Redemption Date

            	
              60

            
	
              Section 11.07.

            	
              Securities Redeemed in Part

            	
              60

            

      

      

      
        iv

        
          

      

      	
              ARTICLE 12

            
	
              Sinking Funds

            
	 
	
              Section 12.01.

            	
              Applicability of Article

            	
              60

            
	
              Section 12.02.

            	
              Satisfaction of Sinking Fund Payments with Securities

            	
              61

            
	
              Section 12.03.

            	
              Redemption of Securities for Sinking Fund

            	
              61

            
	 
	
              ARTICLE 13

            
	
              Defeasance and Covenant Defeasance

            
	 
	
              Section 13.01.

            	
              Company’s Option to Effect Defeasance or Covenant Defeasance

            	
              61

            
	
              Section 13.02.

            	
              Defeasance and Discharge

            	
              62

            
	
              Section 13.03.

            	
              Covenant Defeasance

            	
              62

            
	
              Section 13.04.

            	
              Conditions to Defeasance or Covenant Defeasance

            	
              63

            
	
              Section 13.05.

            	
              Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions

            	
              64

            
	
              Section 13.06.

            	
              Reinstatement

            	
              65

            
	 
	
              ARTICLE 14

            
	
              Guarantee of Securities

            
	 
	
              Section 14.01.

            	
              Guarantee

            	
              65

            
	
              Section 14.02.

            	
              Additional Guarantors

            	
              66

            
	
              Section 14.03.

            	
              Waiver

            	
              66

            
	
              Section 14.04.

            	
              Guarantee of Payment

            	
              66

            
	
              Section 14.05.

            	
              No Discharge or Diminishment of Guarantee

            	
              66

            
	
              Section 14.06.

            	
              Defenses of Company Waived

            	
              67

            
	
              Section 14.07.

            	
              Continued Effectiveness

            	
              67

            
	
              Section 14.08.

            	
              Subrogation

            	
              67

            
	
              Section 14.09.

            	
              Subordination

            	
              68

            
	
              Section 14.10.

            	
              Release of Guarantor and Termination of Guarantee

            	
              68

            
	
              Section 14.11.

            	
              Limitation of Guarantors’ Liability

            	
              69

            
	
              Section 14.12.

            	
              No Obligation to Take Action Against the Company

            	
              69

            
	
              Section 14.13.

            	
              Execution and Delivery

            	
              70

            
	Section 14.14.	Reorganization
                  Agreement	70

            

      

      

      
        v

        
          

      

      
      INDENTURE, dated as of December 8, 2021, among KKR GROUP FINANCE CO. X LLC, a limited liability company duly organized and existing under the laws of
        Delaware (herein called the “Company”), each of the Guarantors named herein (the “Guarantors”) and THE BANK OF NEW YORK MELLON TRUST COMPANY N.A., as Trustee (herein
        called the “Trustee”).

       

      RECITALS

       

      The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its senior unsecured debt
        securities (herein called the “Securities”), to be issued in one or more series as provided in this Indenture.

       

      Each Guarantor has duly authorized its guarantee of the Securities (the “Guarantees”) and to provide therefor
        each Guarantor has duly authorized the execution and delivery of this Indenture.

       

      All things necessary to make this Indenture a valid agreement of each of the Company and the Guarantors, in accordance with its terms, have been done.

       

      NOW, THEREFORE, THIS INDENTURE WITNESSETH:

       

      For and in consideration of the premises and the purchase of the Securities by the Holders (as defined herein) thereof, it is mutually agreed, for the
        equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows:

       

      ARTICLE 1

      Definitions and Other Provisions of General Application

       

      Section 1.01.        Definitions.  For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires:

       

      (a)          the terms defined in this Article 1 have the meanings assigned to
        them in this Article 1 and include the plural as well as the singular;

       

      (b)          all accounting terms not otherwise defined herein have the meanings
        assigned to them in accordance with GAAP;

       

      (c)          unless the context otherwise requires, any reference to an
        “Article,” a “Section” or a “Schedule” refers to an Article, a Section or a Schedule, as the case may be, of this Indenture;

       

      (d)          the words “herein,” “hereof” and “hereunder” and other words of
        similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision;

       

      (e)          “including” means including without limitation;

       

      
        1

        
          

      

      (f)          when used with respect to any Security, the words “convert,”
        “converted” and “conversion” are intended to refer to the right of the Holder, the Company or the Guarantors to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be
        specified for such Security as contemplated by Section 3.01, and these words are not intended to refer to any right of the Holder, the Company or the Guarantors to exchange such Security for other Securities of the same series and of like tenor
        pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07 or another similar provisions of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean
        such terms as may be specified for such Security as contemplated in Section 3.01;

       

      (g)         unless otherwise provided, references to agreements and other
        instruments shall be deemed to include all amendments and other modifications to such agreements and instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture; and

       

      (h)          any reference in this Indenture
          to a Cayman Islands exempted limited partnership taking any action, holding or dealing with any property or having or exercising any power shall be to such exempted limited partnership acting through its general partner.

       

      “Act,” when used with respect to any Holder, has the meaning specified in Section 1.04.

       

      “Affiliate” means, with respect to any specified Person, any other Person directly or indirectly controlling or
        controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person,
        directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

       

      “Applicable Law” has the meaning specified in Section 1.16.

       

      “Applicable Procedures” means, with respect to a Depositary, as to any matter at any time, the policies and
        procedures of such Depositary, if any, that are applicable to such matter at such time.

       

      “Authorized Officers” has the meaning specified in Section 1.05.

       

      “Bankruptcy Law” has the meaning specified in Section 5.01.

       

      “Business Day” means, when used with respect to any Place of Payment, unless otherwise specified as
        contemplated by Section 3.01, any day, other than a Saturday or Sunday, which is not a day on which banking institutions or trust companies are authorized or obligated by law, regulation or executive order to close in that Place of Payment.

       

      
        2

        
          

      

      “Code” shall mean the US Internal Revenue Code of 1986.

       

      “Commission” means the U.S. Securities and Exchange Commission, from time to time constituted, created under
        the Exchange Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

       

      “Company” means the Person named as the “Company” in the first paragraph of this Indenture until a successor
        Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person.

       

      “Company Request” or “Company Order” means a written request or order
        signed by or on behalf of the Company by any Officer, manager, member or partner thereof (or any Person designated in writing as authorized to execute and deliver Company Requests and Company Orders), and delivered to the Trustee.

       

      “Company Resolution” means a copy of one or more resolutions certified by the Secretary or an Assistant
        Secretary of the Company to have been duly adopted by the member or members of the Company or board of directors of the Company, as the case may be, and to be in full force and effect on the date of such certification and delivered to the Trustee.

       

      “Corporate Trust Office” means the principal office of the Trustee at which, at any particular time, its
        corporate trust business shall be conducted, which office is located as of the date of this Indenture at 500 Ross Street, 12th Floor, Pittsburgh, Pennsylvania 15262, Attention: Corporate Trust Administration, or at any other time at such other
        address as the Trustee may designate from time to time by notice to the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the
        Company).

       

      “Corporation” means KKR & Co. Inc., a Delaware corporation.

       

      “Covenant Defeasance” has the meaning specified in Section 13.03.

       

      “Credit Group” means the Credit Parties and the Credit Parties’ direct and indirect Subsidiaries (to the extent
        of their economic ownership interest in such Subsidiaries) taken as a whole.

       

      “Credit Parties” means the Company and the Guarantors.

       

      “Custodian” has the meaning specified in Section 5.01.

       

      “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

       

      “Defaulted Interest” has the meaning specified in Section 3.07.

       

      
        3

        
          

      

      “Defeasance” has the meaning specified in Section 13.02.

       

      “Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or
        more Global Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 3.01.

       

      “Electronic Means” shall mean the following communications methods: e-mail, facsimile transmission, secure
        electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder.

       

      “Event of Default” has the meaning specified in Section 5.01.

       

      “Exchange Act” means the U.S. Securities Exchange Act of 1934 and any statute successor thereto, in each case
        as amended from time to time.

       

      “Expiration Date” has the meaning specified in Section 1.04.

       

      “FATCA Withholding Tax” shall mean any withholding or deduction required pursuant to an agreement described in
        Section 1471(b) of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (or any regulations or agreements thereunder or official interpretations thereof) or any
        intergovernmental agreement between the United States and another jurisdiction facilitating the implementation thereof (or any law implementing such an intergovernmental agreement).

       

      “GAAP” means generally accepted accounting principles in the United States (including, if applicable,
        International Financial Reporting Standards) as in effect from time to time.

       

      “Global Security” means a Security that evidences all or part of the Securities of any series and bears the
        legend set forth in Section 2.02 (or such legend as may be specified as contemplated by Section 3.01 for such Securities).

       

      “Guarantees” has the meaning specified in the second recital of this Indenture and more particularly means any
        Guarantee made by each of the Guarantors as set forth in Article 14 hereof.

       

      “Guarantors” means (i) each of the Persons listed on Schedule
        I attached hereto and (ii) in the future, any New KKR Entity that becomes a Guarantor pursuant to Article 14, but in each case excluding Persons who cease to be Guarantors in accordance with this Indenture.

       

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

       

      
        4

        
          

      

      “Indenture” means this Indenture as originally executed and as it may from time to time be supplemented or
        amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 3.01.

       

      “Insignificant Guarantor” means a Guarantor (or a group of Guarantors taken together) that would not, on a
        combined and consolidated basis and taken as a whole together with all then-existing Non-Guarantor Entities designated pursuant to clause (ii) of the definition of Non-Guarantor Entity set forth in Section 14.10, constitute a Significant
        Subsidiary.

       

      “Instructions” has the meaning specified in Section 1.05.

       

      “Interest” means, when used with respect to an Original Issue Discount Security which by its terms bears
        interest only after Maturity, interest payable after Maturity.

       

      “Interest Payment Date” means, when used with respect to any Security, the Stated Maturity of an installment of
        interest on such Security.

       

      “Internal Revenue Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time.

       

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

       

      “New KKR Entity” means any direct or indirect Subsidiary of the Corporation other than (i)
        a then-existing Guarantor, (ii) any Person in which the Corporation directly or indirectly owns its interest through one or more of the then-existing Guarantors or (iii) any Person through which the Corporation directly or indirectly owns its
        interests in one or more then-existing Guarantors.

       

      “Non-Guarantor Entity” means any Person so designated by the Company pursuant to Section 14.10.

       

      “Non-Guarantor Limitation” has the meaning specified in Section 14.10.

       

      “Notice of Default” means a written notice of the kind specified in Section 5.01.

       

      “Obligations” has the meaning specified in Section 14.01.

       

      “Obligor” has the meaning given to such term in the Trust Indenture Act.

       

      “Officer” means any Chairman, any Vice Chairman, any Chief Executive Officer, the President, the Chief
        Operating Officer, the Treasurer, any Vice President, any Assistant Treasurer, the Principal Accounting Officer, the Chief Financial Officer, the

       

      
        5

        
          

      

      Chief Accounting Officer, the General Counsel, any Senior Principal, the Secretary or any Assistant Secretary of the Company or any Guarantor (or any sole or managing
        member or general partner of the Company or any Guarantor), as the case may be, or, in the case of the Company or the Guarantors’ general partners, any Person designated as an officer pursuant to the organizational documents of the Company or the
        Guarantors.

       

      “Officers’ Certificate” means a certificate signed by two Officers of the Company or any Guarantor (or any sole
        or managing member or general partner of the Company or any Guarantor), as the case may be, and delivered to the Trustee.

       

      “Opinion of Counsel” means a written opinion of counsel (who may be counsel for, including an employee of, the
        Company or for any Guarantor) and who shall be reasonably acceptable to the Trustee.

       

      “Original Issue Discount Security” means any Security which provides for an amount less than the principal
        amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02.

       

      “Outstanding” means, when used with respect to Securities, as of the date of determination, all Securities
        theretofore authenticated and delivered under this Indenture, except:

       

      (a)         Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

       

      (b)         Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with
        the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as Paying Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

       

      (c)         Securities as to which Defeasance has been effected pursuant to Section 13.02;

       

      (d)         Securities which have been paid pursuant to Section 3.06 or in exchange for or in lieu of which other
        Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a protected
        purchaser in whose hands such Securities are valid obligations of the Company; and

       

      (e)         Securities as to which any property deliverable upon conversion thereof has been delivered (or such delivery
        has been made available), or as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in Section 3.01;

       

      
        6

        
          

      

      provided, however,
          that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (i)
          the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date
          pursuant to Section 5.02, (ii) if, as of such date, the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as
          specified or determined as contemplated by Section 3.01, (iii) the principal amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S.
          dollar equivalent, determined as of such date in the manner provided as contemplated by Section 3.01, of the principal amount of such Security (or, in the case of a Security described in clause (i) or (ii) above, of the amount determined as
          provided in such clause), and (iv) Securities owned by the Company, any Guarantor or any other obligor upon the Securities or any Affiliate of the Company, any Guarantor or such other obligor shall be disregarded and deemed not to be Outstanding
          (except in the case where the Securities are 100% owned by the Company or any Affiliate of the Company), except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction,
          notice, consent, waiver or other action, only Securities which a Responsible Officer actually knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee
          establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company, any Guarantor or any other obligor upon the Securities or any Affiliate of the Company, any
          Guarantor or such other obligor.

       

      “Paying Agent” means any Person authorized by the Company to pay the principal of or premium, if any, or
        interest on any Securities on behalf of the Company or any Guarantor.

       

      “Permitted Jurisdictions” has the meaning specified in Section 8.01(a)(i).

       

      “Person” means an individual, a corporation, a partnership, a limited liability company, an association, a
        trust, or any other entity including government or political subdivision or an agency or instrumentality thereof.

       

      “Place of Payment” means, when used with respect to the Securities of any series, the place or places where the
        principal of and premium, if any, and interest on the Securities of such series are payable as specified as contemplated by Section 3.01.

       

      “Predecessor Security” means, with respect to any particular Security, every previous Security evidencing all
        or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen
        Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

       

      
        7

        
          

      

      “Redemption Date” means, when used with respect to any Security to be redeemed, the date fixed for such
        redemption by or pursuant to this Indenture.

       

      “Redemption Price” means, when used with respect to any Security to be redeemed, the price at which it is to be
        redeemed pursuant to this Indenture.

       

      “Regular Record Date” means, for the interest payable on any Interest Payment Date on the Securities of any
        series, the date specified for that purpose as contemplated by Section 3.01.

       

      “Reorganization Agreement” means the Reorganization Agreement, dated as of October 8, 2021, by and among the
        Corporation, KKR Group Holdings Corp., KKR Group Partnership L.P., KKR Holdings L.P., KKR Holdings GP Limited, KKR Associates Holdings L.P., KKR Associates Holdings GP Limited and KKR Management LLP.

       

      “Repayment Date” means, with used with respect to a Security to be repaid at the option of a Holder, the date
        fixed for such repayment by or pursuant to this Indenture.

       

      “Responsible Officer” means with respect to the Trustee, any officer assigned to the corporate finance group
        (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture and, for the purposes of Section 6.01(c)(ii) and the second
        sentence of Section 6.02, shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

       

      “Sanctions” has the meaning specified in Section 10.06.

       

      “Securities” has the meaning specified in the first recital of this Indenture and more particularly means any
        Securities authenticated and delivered under this Indenture.

       

      “Securities Act” means the U.S. Securities Act of 1933 and any statute successor thereto, in each case as
        amended from time to time.

       

      “Security Register” and “Security Registrar” have the respective
        meanings specified in Section 3.05.

       

      “Senior Principal” means any member of the Series I Preferred Stockholder who holds any limited liability
        partnership interests in the Series I Preferred Stockholder.

       

      “Series I Preferred Stockholder” means KKR Management LLP, a Delaware limited liability partnership.

       

       “Significant Subsidiary” means a “significant subsidiary” (as such
        term is defined in Rule 1-02(w) of Regulation S-X under the Securities Act or any successor provision) of the Corporation.

       

      

      
        8

        
          

      

      “Special Record Date” means, for the payment of any Defaulted Interest, a date fixed by the Trustee pursuant to
        Section 3.07.

       

      “Stated Maturity” means, when used with respect to any Security or any installment of principal thereof or
        interest thereon, the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable.

       

      “Subsidiary” means any subsidiary of a Person that is or would be consolidated with such Person in the
        preparation of segment information (or, in the absence of segment information, comparable non-GAAP information) with respect to the combined financial statements of such Person. For the avoidance of doubt, a Subsidiary shall not include (a) any private equity or other investment fund or vehicle or (b) any portfolio company of any such fund or vehicle.

       

      “Substantially All Merger” means a merger or consolidation of one or more Credit Parties with or into another
        Person that would, in one or a series of related transactions, result in the transfer or other disposition, directly or indirectly, of all or substantially all of the combined assets of the Credit Group taken as a whole to a Person that is not
        within the Credit Group immediately prior to such transaction. The transactions contemplated by the Reorganization Agreement shall not constitute a Substantially All Merger.

       

      “Substantially All Sale” means a sale, assignment, transfer, lease or conveyance to any other Person, in one or
        a series of related transactions, directly or indirectly, of all or substantially all of the combined assets of the Credit Group taken as a whole to a Person that is not within the Credit Group immediately prior to such transaction. The
        transactions contemplated by the Reorganization Agreement shall not constitute a Substantially All Sale.

       

      “Successor Person” has the meaning specified in Section 8.01(a)(1).

       

      “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939 as in force at the date as of which this
        Indenture was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust
        Indenture Act of 1939 as so amended.

       

      “Trustee” means the Person named as the “Trustee” in the first paragraph of this Indenture until a successor
        Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as
        used with respect to the Securities of any series shall mean the Trustee with respect to Securities of such series.

       

      “U.S. Government Obligation” has the meaning specified in Section 13.04(a).

       

      
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      “Vice President” means, when used with respect to the Company or any Guarantor (or any sole or managing member
        or general partner of the Company or any Guarantor) or the Trustee, any vice president, whether or not designated by a number or a word or words added before or after the title “vice president.”

       

      Section 1.02.        Compliance Certificates and Opinions.  Upon any application or request by the Company or any Guarantor to the Trustee to take any action under any provision of this Indenture, the
        Company or such Guarantor, as the case may be, shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an
        Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically
        required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.

       

      Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates provided
        for in Section 10.04) shall include:

       

      (a)         a statement that each individual signing such certificate or opinion
        has read such covenant or condition and the definitions herein relating thereto;

       

      (b)         a brief statement as to the nature and scope of the examination or
        investigation upon which the statements or opinions contained in such certificate or opinion are based;

       

      (c)         a statement that, in the opinion of each such individual, he or she
        has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and

       

      (d)         a statement as to whether, in the opinion of each such individual,
        such condition or covenant has been complied with.

       

      Section 1.03.        Form of Documents Delivered to Trustee.  In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
        that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more
        other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents.

       

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

       

      
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      may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an Officer or Officers stating that the information with
        respect to such factual matters is in the possession of the Company or a Guarantor, as the case may be, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to
        such matters are erroneous.

       

      Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other
        instruments under this Indenture, they may, but need not, be consolidated and form one instrument.

       

      Section 1.04.        Acts of Holders; Record Dates.  Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or
        taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action
        shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company or the Guarantors. Such instrument or instruments (and the action embodied therein and evidenced
        thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing
        appointing any such agent shall be sufficient for any purpose of this Indenture and, subject to Section 6.01, conclusive in favor of the Trustee, the Company and the Guarantors, if made in the manner provided in this Section 1.04.

       

      The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by
        a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a Person
        acting in a capacity other than such Person’s individual capacity, such certificate or affidavit shall also constitute sufficient proof of such Person’s authority. The fact and date of the execution of any such instrument or writing, or the
        authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient.

       

      The ownership of Securities shall be proved by the Security Register.

       

      Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future Holder of the
        same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, any Security Registrar, any
        Paying Agent or the Company or any Guarantor in reliance thereon, whether or not notation of such action is made upon such Security.

       

      The Company or any Guarantor may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series
        entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other

       

      
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      action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series; provided that
        none of the Company or any Guarantor may set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any
        record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after
        such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities
        of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company or any Guarantor from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph
        (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite
        principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company or any Guarantor, at its own expense, shall cause notice of such
        record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06.

       

      The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to join in the
        giving or making of (A) any Notice of Default, (B) any declaration of acceleration referred to in Section 5.02, (C) any request to institute proceedings referred to in Section 5.07(b) or (D) any direction referred to in
        Section 5.11, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on such record date, and no other Holders, shall be entitled to join in
        such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the
        applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for any action
        for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be
        construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the
        Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company and the Guarantors in writing and to each Holder of Securities of the relevant
        series in the manner set forth in Section 1.06.

       

      With respect to any record date set pursuant to this Section 1.04, the party hereto which sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the
        proposed new Expiration Date is given

       

      
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      to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06, on or prior to the existing
        Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section 1.04, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record
        date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph.

       

      Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard
        to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such principal amount.

       

      Section 1.05.        Notices, Etc., to Trustee, Company and Guarantors.  Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or
        permitted by this Indenture to be made upon, given or furnished to, or filed with,

       

      (a)         the Trustee by any Holder or by the Company or a Guarantor shall be
        sufficient for every purpose hereunder if made, given, furnished or filed in writing (which may be by facsimile) to or with the Trustee at its Corporate Trust Office at the location specified in Section 1.01; or

       

      (b)         the Company or a Guarantor by the Trustee or by any Holder shall be
        sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company or any Guarantor addressed to the attention of the Secretary of the Company or such Guarantor
        at the address of the Company’s principal office specified in writing to the Trustee by the Company and, until further notice, at 30 Hudson Yards, New York, New York, 10001, fax number: (212) 750-0003, Attention: Chief Financial Officer.

       

      The Trustee shall have the right, but shall not be required, to rely upon and comply with instructions and directions sent by e-mail, facsimile and
        other similar unsecured electronic methods by persons believed by the Trustee to be authorized to give instructions and directions on behalf of the Company or a Guarantor. The Trustee shall have no duty or obligation to verify or confirm that the
        person who sent such instructions or directions is, in fact, a person authorized to give instructions or directions on behalf of the Company or such Guarantor; and the Trustee shall have no liability for any losses, liabilities, costs or expenses
        incurred or sustained by the Company or such Guarantor as a result of such reliance upon or compliance with such instructions or directions. The Company and each Guarantor agrees to assume all risks arising out of the use of such electronic methods
        to submit instructions and directions 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.

       

      The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”)
        given pursuant to this Indenture and

       

      
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      delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to
        provide such Instructions (“Authorized Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added
        or deleted from the listing. If the Company elects 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 Company understands and agrees 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
        Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the
        Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. 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 Company
        agrees: (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; (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 Issuer; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances;
        and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.

       

      Section 1.06.        Notice to Holders; Waiver.  Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided)
        if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at such Holder’s address as it appears in the Security Register, not later than the latest date, if any, and not earlier than the earliest date, if any,
        prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice
        with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of
        such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

       

      In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then
        such notification as

       

      
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      shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

       

      Where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given to the
        Depositary for such Security (or its designee), pursuant to the Applicable Procedures of the Depositary, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice.

       

      Section 1.07.        Reserved.

       

      Section 1.08.        Effect of Headings and Table of Contents.  The Article and Section headings herein and the Table of Contents are for convenience only and shall not
        affect the construction hereof.

       

      Section 1.09.        Successors and Assigns.  All covenants and agreements in this Indenture by the Company and the Guarantors shall bind their respective successors and assigns, whether so expressed
        or not. All agreements of the Trustee in this Indenture shall bind its successors and assigns, whether so expressed or not.

       

      Section 1.10.       Separability Clause.  In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the
        remaining provisions shall not in any way be affected or impaired thereby.

       

      Section 1.11.        Benefits of Indenture.  Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder
        and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture.

       

      Section 1.12.       Governing Law, Jurisdiction, Venue.  This Indenture, the Securities and the Guarantees shall be governed by, and construed in accordance with, the law of the State of New York.
        The Company, the Guarantors and the Trustee agree that any legal suit, action or proceeding arising out of or relating to this Indenture, and the Company and the Guarantors agree that any legal suit, action or proceeding arising out of or relating
        to the Securities, may be instituted in any federal or state court in the Borough of Manhattan, The City of New York, in respect of actions brought against each such party as a defendant, and each waives any objection which it may now or hereafter
        have to the laying of the venue of any such legal suit, action or proceeding, waives any immunity, to the extent permitted by law, from jurisdiction or to service of process in respect of any such suit, action or proceeding, waives any right to
        which it may be entitled on account of place of residence or domicile and irrevocably submits to the jurisdiction of any such court in any such suit, action or proceeding.

       

      Section 1.13.       Legal Holidays.  In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Security, or any date on which a Holder has the right to
        convert such Holder’s Security, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture

       

      
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      or of the Securities (other than a provision of any Security which specifically states that such provision shall apply in lieu of this Section 1.13)) payment of principal
        and premium, if any, or interest, or the Redemption Price or conversion of such Security, need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and
        effect as if made on the Interest Payment Date, Redemption Date or Repayment Date or at the Stated Maturity, or on such conversion date. In the case, however, of Securities of a series bearing interest at a floating rate, if any Interest Payment
        Date (other than the Redemption Date, Repayment Date or Stated Maturity) would otherwise be a date that is not a Business Day, then the Interest Payment Date shall be postponed to the following date which is a Business Day, unless that Business Day
        falls in the next succeeding calendar month, in which case the Interest Payment Date will be the immediately preceding Business Day. No interest shall accrue for the period from and after any such Interest Payment Date, Redemption Date, Repayment
        Date, Stated Maturity or conversion date, as the case may be, to the date of such payment.

       

      Section 1.14.        No Recourse Against Others.  A director, partner, officer, employee, member, manager or stockholder as such of the Company or any Guarantor shall not have any liability for any
        obligations of the Company under the Securities, the Guarantees or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder shall waive and release all such
        liability. The waiver and release shall be part of the consideration for the issue of the Securities.

       

      Section 1.15.       Waiver of Jury Trial.  EACH OF THE COMPANY, THE GUARANTORS, THE TRUSTEE AND THE HOLDERS, BY THEIR ACCEPTANCE OF THE SECURITIES, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
        PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING AS AMONG THE COMPANY, THE GUARANTORS AND THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE GUARANTEES.

       

      Section 1.16.       Compliance with Applicable Law.  In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations promulgated by
        competent authorities) in effect from time to time (“Applicable Law”), the Trustee shall be entitled to make any withholding or deduction from payments under the Indenture to
        the extent necessary to comply with Applicable Law (and shall timely pay the amounts so withheld or deducted to the applicable governmental authority) for which The Bank of New York Mellon Trust Company, N.A. shall not have any liability. Each of
        the Company and the Trustee agrees to reasonably cooperate and, at the reasonable request of the other, to provide the other with such information as each may have in its possession that is necessary to enable the determination of whether any
        payments hereunder are subject to FATCA Withholding Tax.

       

      
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      ARTICLE 2

      Security Forms

       

      Section 2.01.        Forms Generally.  The Securities of each series shall be in substantially such form or forms as shall be established by or pursuant to a Company Resolution or, subject to Section
        3.03, set forth in, or determined in the manner provided in, an Officers’ Certificate of the Company pursuant to a Company Resolution, or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions,
        substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with applicable tax
        laws or the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the Officer executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is
        established by action taken pursuant to a Company Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of
        the Company Order contemplated by Section 3.03 for the authentication and delivery of such Securities. If all of the Securities of any series established by action taken pursuant to a Company Resolution are not to be issued at one time, it shall
        not be necessary to deliver a record of such action at the time of issuance of each Security of such series, but an appropriate record of such action shall be delivered at or before the time of issuance of the first Security of such series.

       

      The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as
        determined by the Officers of the Company executing such Securities, as evidenced by their execution of such Securities.

       

      Section 2.02.        Form of Legend for Global Securities.  Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced thereby, every Global Security authenticated and
        delivered hereunder shall bear a legend in substantially the following form:

       

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

       

      THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. TRANSFERS OF

       

      
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      THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
        TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

       

      Section 2.03.        Form of Trustee’s Certificate of Authentication.  The Trustee’s certificates of authentication shall be in substantially the following form:

       

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

       

      Dated:

       

      	 	
              The Bank of New York Mellon Trust Company, N.A., as Trustee

            
	 	 
	 	
              By:

            	 
	 	 	
              Authorized Signatory

            

      

      

      ARTICLE 3

      The Securities

       

      Section 3.01.        Amount Unlimited; Issuable in Series.  The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited.

       

      The Securities may be issued in one or more series. There shall be established in or pursuant to (a) a Company Resolution
        or pursuant to authority granted by a Company Resolution and, subject to Section 3.03, set forth, or determined in the manner provided, in an Officers’ Certificate of the Company, or (b) one or more indentures
        supplemental hereto, prior to the issuance of Securities of any series:

       

      (1)         the title of the Securities of the series (which shall distinguish
        the Securities of the series from Securities of any other series);

       

      (2)         the limit, if any, on the aggregate principal amount of the
        Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant
        to Section 3.04, 3.05, 3.06, 9.06 or 11.07 and except for any Securities which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder);

       

      
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      (3)         the Person to whom any interest on a Security of the series shall be
        payable, if other than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest;

       

      (4)         the date or dates on which the principal of any Securities of the
        series is payable or the method used to determine or extend those dates;

       

      (5)         the rate or rates at which any Securities of the series shall bear
        interest, if any, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date;

       

      (6)         the place or places where the principal of and premium, if any, and
        interest on any Securities of the series shall be payable and the manner in which any payment may be made;

       

      (7)         the period or periods within which, the price or prices at which and
        the terms and conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Company Resolution, the manner in which any election by the Company to redeem the Securities
        shall be evidenced;

       

      (8)         the obligation or the right, if any, of the Company to redeem or
        purchase any Securities of the series pursuant to any sinking fund or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series
        shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

       

      (9)         if other than denominations of $2,000 and any integral multiple of
        $1,000 in excess thereof, the denominations in which any Securities of the series shall be issuable;

       

      (10)       if the amount of principal of or premium, if any, or interest on any
        Securities of the series may be determined with reference to a financial or economic measure or index or pursuant to a formula, the manner in which such amounts shall be determined;

       

      (11)       if other than the currency of the United States of America, the
        currency, currencies or currency units in which the principal of or premium, if any, or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America
        for any purpose, including for purposes of the definition of “Outstanding” in Section 1.01;

       

      (12)       if the principal of or premium, if any, or interest on any Securities
        of the series is to be payable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units
        in which the principal of

       

      
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      or premium, if any, or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which
        such election is to be made and the amount so payable (or the manner in which such amount shall be determined);

       

      (13)       if other than the entire principal amount thereof, the portion of the
        principal amount of any Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02;

       

      (14)       if the principal amount payable at the Stated Maturity of any
        Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder,
        including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which
        such amount deemed to be the principal amount shall be determined);

       

      (15)       if other than by a Company Resolution, the manner in which any
        election by the Company to defease any Securities of the series pursuant to Section 13.02 or Section 13.03 shall be evidenced; whether any Securities of the series other than Securities denominated in U.S. dollars and bearing interest at a fixed
        rate are to be subject to Section 13.02 or Section 13.03; or, in the case of Securities denominated in U.S. dollars and bearing interest at a fixed rate, if applicable, that the Securities of the series, in whole or any specified part, shall not be
        defeasible pursuant to Section 13.02 or Section 13.03 or both such Sections;

       

      (16)       if applicable, that any Securities of the series shall be issuable in
        whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of
        that set forth in Section 2.02 and any circumstances in addition to or in lieu of those set forth in clause (b) of the last paragraph of Section 3.05 in which any such Global Security may be exchanged in whole or in
        part for Securities registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof and any other provisions
        governing exchanges or transfers of such Global Security;

       

      (17)       any addition to, deletion from or change in the Events of Default
        which applies to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 5.02;

       

      (18)       any addition to, deletion from or change in the covenants set forth in
        Article 10 which applies to Securities of the series;

       

      
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      (19)       if the Securities of the series are to be convertible into or
        exchangeable for cash and/or any securities or other property of any Person (including the Company), the terms and conditions upon which such Securities will be so convertible or exchangeable;

       

      (20)       whether the Securities of the series will be guaranteed by any Person
        or Persons other than the Guarantors and, if so, the identity of such Person or Persons, the terms and conditions upon which such Securities shall be guaranteed and, if applicable, the terms and conditions upon which such guarantees may be
        subordinated to other indebtedness of the respective guarantors;

       

      (21)       whether the Securities of the series will be secured by any collateral
        and, if so, the terms and conditions upon which such Securities shall be secured and, if applicable, upon which such liens may be subordinated to other liens securing other indebtedness of the Company or any Guarantor;

       

      (22)        if a party other than The Bank of New York Mellon Trust Company, N.A.
        is to act as Trustee for the Securities of such series, the name and Corporate Trust Office of such party; and

       

      (23)        any other terms of the series (which terms shall not be inconsistent
        with the provisions of this Indenture, except as permitted by Section 9.01(l)).

       

      All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to
        the Company Resolution referred to above or pursuant to authority granted by one or more Company Resolutions and, subject to Section 3.03, set forth, or determined in the manner provided, in the Officers’ Certificate of the Company referred to
        above or in any such indenture supplemental hereto.

       

      All Securities of any one series need not be issued at one time and, unless otherwise provided in or pursuant to the Company Resolution referred to
        above and, subject to Section 3.03, set forth, or determined in the manner provided, in the Officers’ Certificate of the Company referred to above or pursuant to authority granted by one or more Company Resolutions or in any such indenture
        supplemental hereto with respect to a series of Securities, additional Securities of a series may be issued, at the option of the Company, without the consent of any Holder, at any time and from time to time.

       

      If any of the terms of the series are established by action taken pursuant to a Company Resolution, a copy of an appropriate record of such action
        shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate of the Company setting forth the terms of the series.

       

      Section 3.02.        Denominations.  The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as contemplated by
        Section 3.01. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series

       

      
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      shall be issuable in denominations of $2,000 and any integral multiple of $1,000 in excess thereof.

       

      Section 3.03.        Execution, Authentication, Delivery and Dating.  The Securities shall be executed on behalf of the Company by one of its Officers. The signature on the Securities may be manual,
        electronic or facsimile.

       

      Securities bearing the manual, facsimile or electronic signatures of individuals who were at any time the proper Officers of the Company shall bind the
        Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities.

       

      At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the
        Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the form or
        terms of the Securities of the series have been established by or pursuant to one or more Company Resolutions or pursuant to authority granted by one or more Company Resolutions as permitted by Sections 2.01 and 3.01, in authenticating such
        Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and, subject to Section 6.01, shall be fully protected in relying upon, an Opinion of Counsel
        stating,

       

      (a)          if the form of such Securities has been established by or pursuant
        to Company Resolution or pursuant to authority granted by one or more Company Resolutions as permitted by Section 2.01, that such form has been established in conformity with the provisions of this Indenture;

       

      (b)         if the terms of such Securities have been established by or pursuant
        to Company Resolution or pursuant to authority granted by one or more Company Resolutions as permitted by Section 3.01, that such terms have been established in conformity with the provisions of this Indenture; and

       

      (c)         that such Securities and the related Guarantees, when the Securities
        are authenticated by the Trustee and issued and delivered by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company and each Guarantor,
        respectively, enforceable against the Company and each Guarantor, respectively, in accordance with their terms, subject to (i) the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating
        to or affecting creditors’ rights generally, (ii) general equitable principles and (iii) an implied covenant of good faith and fair dealing.

       

      If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities
        pursuant to this Indenture

       

      
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      will adversely affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable
        to the Trustee.

       

      Notwithstanding the provisions of Section 3.01 and of the preceding paragraph of this Section 3.03, if all Securities of a series are not to be
        originally issued at one time, except in the event that the aggregate principal amount of a series of Outstanding Securities is increased as contemplated by Section 3.01, it shall not be necessary to deliver the Officers’ Certificate of the Company
        otherwise required pursuant to Section 3.01 or the Company Order and Opinion of Counsel otherwise required pursuant to this Section 3.03 at or prior to the authentication of each Security of such series if such documents are delivered at or prior
        to the authentication upon original issuance of the first Security of such series to be issued.

       

      Each Security shall be dated the date of its authentication.

       

      No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a
        certificate of authentication substantially in the form provided for herein executed by the Trustee by manual or electronic signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security
        has been duly authenticated and delivered hereunder.  Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
        Trustee for cancellation as provided in Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.

       

      Section 3.04.       Temporary Securities.  Pending the preparation of definitive Securities of any series, the Company may execute, and, upon Company Order, the Trustee shall authenticate and
        deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities of such series in lieu of which they are issued
        and with such appropriate insertions, omissions, substitutions and other variations as the Officer or Officers executing such Securities may determine, as evidenced by their execution thereof.

       

      If temporary Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable
        delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or
        agency of the Company in a Place of Payment for such series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and
        deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in all respects be

       

      
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      entitled to the same benefits under this Indenture as definitive Securities of such series and tenor.

       

      Section 3.05.       Registration, Registration of Transfer and Exchange.  The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such
        office or in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to
        such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and
        transfers of Securities as herein provided.

       

      Upon surrender for registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for such series,
        the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor and principal
        amount.

       

      At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and of
        like tenor and principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the
        Securities, which the Holder making the exchange is entitled to receive.

       

      All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company and the respective
        Guarantors, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

       

      Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be duly
        endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or such Holder’s attorney duly authorized in writing.

       

      No service charge shall be made for any registration of transfer or exchange of Securities, but the Company or the Trustee may require payment of a sum
        sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.04, 9.06 or 11.07 not involving any transfer.

       

      If the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be required (i) to issue, register the transfer of or exchange any Securities of such series (or of such series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of
        the mailing of a notice of redemption of any such Securities selected for redemption

       

      
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      under Section 11.03 and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any
        Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part.

       

      Neither the Trustee nor the Security Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any
        restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depositary participants or beneficial owners of interests in any
        Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine
        substantial compliance as to form with the express requirements hereof.

       

      The provisions of clauses (a), (b), (c) and (d) of this paragraph shall apply only to Global Securities:

       

      (a)         Each Global Security authenticated under this Indenture shall be
        registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all
        purposes of this Indenture.

       

      (b)         Notwithstanding any other provision in this Indenture, and subject to
        such applicable provisions, if any, as may be specified as contemplated by Section 3.01, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered,
        in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (i) such Depositary has notified the Company that it is unwilling or unable or no longer permitted under applicable law to continue as
        Depositary for such Global Security and a successor Depositary is not appointed within 90 days, (ii) there shall have occurred and be continuing an Event of Default with respect to such Global Security, (iii) subject to the Applicable Procedures,
        the Company so directs the Trustee by a Company Order or (iv) there shall exist such circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 3.01.

       

      (c)         Subject to clause (b) above and to such
        applicable provisions, if any, as may be specified as contemplated by Section 3.01, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion
        thereof shall be registered in such names as the Depositary for such Global Security shall direct.

       

      (d)         Every Security authenticated and delivered upon registration of
        transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section 3.05, Section 3.04, 3.06, 9.06 or 11.07 or otherwise, shall be authenticated and delivered in the form of, and shall be, a
        Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof.

       

      
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      Section 3.06.       Mutilated, Destroyed, Lost and Stolen Securities.  If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and
        deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

       

      If there shall be delivered to the Company and the Trustee (a) evidence to their satisfaction of the destruction, loss or theft of any Security and (b)
        such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected purchaser, the
        Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of like tenor and principal amount, and bearing a number not contemporaneously
        outstanding.

       

      In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may,
        instead of issuing a new Security, pay such Security.

       

      Upon the issuance of any new Security under this Section 3.06, the Company may require the payment of a sum sufficient to
        cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel to the Company and the fees and expenses of the Trustee and its counsel) connected therewith.

       

      Every new Security of any series issued pursuant to this Section 3.06 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an
        original additional contractual obligation of the Company and the respective Guarantors, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this
        Indenture equally and proportionately with any and all other Securities of such series and Guarantees duly issued hereunder.

       

      The provisions of this Section 3.06 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the
        replacement or payment of mutilated, destroyed, lost or stolen Securities.

       

      Section 3.07.        Payment of Interest; Interest Rights Preserved.  Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, interest on any Security
        which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
        Date for such interest.

       

      Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein
        called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular

       

      
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      Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (a) or (b) below:

       

      (a)         The Company may elect to make payment of any Defaulted Interest
        payable on Securities of a series to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest,
        which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the
        Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the
        proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted
        Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify
        the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such
        series in the manner set forth in Section 1.06, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest
        shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b).

       

      (b)         The Company may make payment of any Defaulted Interest on the
        Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the
        Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.

       

      Subject to the foregoing provisions of this Section 3.07, each Security delivered under this Indenture upon registration of transfer of or in exchange
        for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

       

      In the case of any Security which is converted after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than
        any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion, and such interest (whether or not
        punctually paid or made available for payment) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such Regular

       

      
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      Record Date.  Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity
        is after the date of conversion of such Security shall not be payable. Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions,
        changes or omissions as may be provided thereby, to such Security.

       

      Section 3.08.        Persons Deemed Owners.  Prior to due presentment of a Security for registration of transfer, the Company, the Guarantors, the Trustee and any agent of the Company, a Guarantor or
        the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and premium, if any, and, subject to Section 3.07, any interest on such Security and for
        all other purposes whatsoever, whether or not such Security be overdue, and none of the Company, the Guarantors, the Trustee nor any agent of the Company, a Guarantor or the Trustee shall be affected by notice to the contrary.

       

      Section 3.09.        Cancellation.  All Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund payment shall, if
        surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company or any Guarantor may at any time deliver to the Trustee for cancellation any Securities previously authenticated and
        delivered hereunder which the Company or such Guarantor may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated
        hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section
        3.09, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of in accordance with its customary procedures. The Trustee shall provide the Company or any Guarantor a list of all Securities
        that have been cancelled from time to time as requested, in writing, by the Company or such Guarantor.

       

      Section 3.10.       Computation of Interest.  Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the Securities of each series shall be computed
        on the basis of a 360-day year of twelve 30-day months.

       

      Section 3.11.       CUSIP or ISIN Numbers.  The Company in issuing any series of the Securities may use “CUSIP” or “ISIN” numbers and/or other similar numbers, if then generally in use, and
        thereafter with respect to such series, the Trustee may use such numbers in any notice of redemption with respect to such series; provided that any such notice may state that
        no representation is made as to the correctness of such numbers either as printed on the Securities of such series or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the
        Securities of such series, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly make the Trustee aware of any changes to the “CUSIP” or “ISIN” numbers.

       

      
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      Section 3.12.       Original Issue Discount.  If any of the Securities is an Original Issue Discount Security, the Company shall file with the Trustee promptly at the end of each calendar year (a) a
        written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and (b) such other specific information relating
        to such original issue discount as may then be relevant under the Internal Revenue Code.

       

      Section 3.13.       General Provisions Relating to Global Securities.  Owners of beneficial interests in the Securities evidenced by a Global Security will not be entitled to any rights under this
        Indenture with respect to such Global Security, and the Depositary or its nominee may be treated by the Company, the Guarantors, and the Trustee and any agent of the Company, the Guarantors or the Trustee, including any Security Registrar or Paying
        Agent as the owner and Holder of such Global Security for all purposes whatsoever. None of the Company, the Guarantors, the Trustee, the Security Registrar, the Paying Agent or any other agent of the Company, the Guarantors or of the Trustee shall
        have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial
        ownership interests. None of the Company, the Guarantors, the Trustee, the Security Registrar, the Paying Agent or any other agent of the Company, the Guarantors or of the Trustee shall have any responsibility or liability to any person for any
        acts or omissions of the Depositary or its nominee in respect of a Global Security, for the records of any such Depositary, including records in respect of beneficial ownership interests in respect of such Global Security, for any transactions
        between such Depositary and any participant or indirect participant in such Depositary or between or among such Depositary, any participant or indirect participant in such Depositary and/or any Holder or owner of a beneficial interest in such
        Global Security, or for any transfers of beneficial interests in any such Global Security. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee, the Security Registrar or the Paying Agent or such agent from giving
        effect to any written certification, proxy or other authorization furnished by the Depositary or its nominee or impair, as between the Depositary or its nominee and such owners of beneficial interests, the operation of customary practices governing
        the exercise of the rights of the Depositary or its nominee as Holder of any Global Security.

       

      ARTICLE 4

      Satisfaction and Discharge

       

      Section 4.01.        Satisfaction and Discharge of Indenture.  This Indenture shall, upon Company Request, cease to be of further effect with respect to any series of Securities specified in such
        Company Request (except as to any surviving rights of registration of transfer or exchange of Securities of such series herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging
        satisfaction and discharge of this Indenture as to such series, when:

       

      (a)         either 

       

      

      
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      (i)          all Securities of such series theretofore
        authenticated and delivered (other than (A) Securities which have been mutilated, destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 and (B) Securities for whose payment money has theretofore been deposited
        in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or

       

      (ii)         all such Securities of such series not
        theretofore delivered to the Trustee for cancellation

       

      (A)          have become due and payable, or

       

      (B)          will become due and payable at their Stated
        Maturity within one year of the date of deposit, or

       

      (C)          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 Company,

       

      and the Company, in the case of (A), (B) or (C) above, has deposited or caused to be deposited with the Trustee as trust
        funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and premium, if any, and interest to the date of
        such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be;

       

      (b)         the Company has paid or caused to be paid all other sums payable
        hereunder by the Company; and

       

      (c)         the Company has delivered to the Trustee an Officers’ Certificate of
        the Company and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied with.

       

      In the event there are Securities of two or more series hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction
        and discharge of this Indenture only if requested to do so with respect to Securities of such series as to which it is Trustee and if the other conditions thereto are met.

       

      Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.07 and, if money shall
        have been deposited with the Trustee pursuant to subclause (ii) of clause (a) of this Section 4.01, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive.

       

      
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      Section 4.02.        Application of Trust Money.  Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to Section 4.01 shall be held in trust
        and applied by it, in accordance with the provisions of the applicable series of Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine,
        to the Persons entitled thereto, of the principal and premium, if any, and interest for whose payment such money has been deposited with the Trustee. All money deposited with the Trustee pursuant to Section 4.01 (and held by it or any Paying Agent)
        for the payment of Securities subsequently converted into other property shall be returned to the Company upon Company Request. The Company may direct by a Company Order the investment of any money deposited with the Trustee pursuant to Section
        4.01, without distinction between principal and income, in (a) United States Treasury securities with a maturity of one year or less or (b) a money market fund that invests solely in short-term United States Treasury securities (including money
        market funds for which the Trustee or an affiliate of the Trustee serves as investment advisor, administrator, shareholder, servicing agent and/or custodian or sub-custodian, notwithstanding that (i) the Trustee charges and collects fees and
        expenses from such funds for services rendered and (ii) the Trustee charges and collects fees and expenses for services rendered pursuant to this Indenture at any time) and from time to time the Company may direct the reinvestment of all or a
        portion of such money in other securities or funds meeting the criteria specified in clause (a) or (b) of this Section 4.02.

       

      ARTICLE 5

      Remedies

       

      Section 5.01.        Events of Default.  Except as may be otherwise provided pursuant to Section 3.01 for Securities of any series, an “Event of Default” means, whenever used herein or in a Security
        issued hereunder with respect to Securities of any series, any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any
        judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

       

      (a)         the Company defaults in the payment of any installment of interest on
        any Security of such series, and such default continues for a period of 30 days after such payment becomes due and payable;

       

      (b)         the Company defaults in the payment of the principal of or premium,
        if any, on any Security of such series when the same becomes due and payable, regardless of whether such payment became due and payable at its Stated Maturity, upon redemption, upon declaration of acceleration or otherwise;

       

      (c)          the Company defaults in the deposit of any sinking fund payment,
        when and as due by the terms of a Security of such series;

       

      (d)          any Credit Party defaults in the performance of, or breaches, any of
        its covenants and agreements in respect of any Security of such series contained in this

       

      
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      Indenture or in the Securities of such series (other than those referred to in (a), (b) or (c) above), and such default or breach continues for a period of 90 days after
        the notice specified below;

       

      (e)          the Company or any Guarantor (other than an Insignificant
        Guarantor), pursuant to or within the meaning of the Bankruptcy Law (as defined below):

       

      (i)          commences a voluntary case or proceeding;

       

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

       

      (iii)        consents to the appointment of a Custodian (as
        defined below) of it or for all or substantially all of its property;

       

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

       

      (v)          files a petition in bankruptcy or answer or
        consent seeking reorganization or relief;

       

      (vi)        consents to the filing of such petition or the
        appointment of or taking possession by a Custodian; or

       

      (vii)       takes any comparable action under any foreign laws
        relating to insolvency;

       

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

       

      (i)          is for relief against the Company or any
        Guarantor (other than an Insignificant Guarantor) in an involuntary case, or adjudicates the Company or any Guarantor (other than an Insignificant Guarantor) insolvent or bankrupt;

       

      (ii)          appoints a Custodian of the Company or any
        Guarantor (other than an Insignificant Guarantor) or for all or substantially all of the property of the Company or any Guarantor (other than an Insignificant Guarantor); or

       

      (iii)        orders the winding-up or liquidation of the
        Company or any Guarantor (other than an Insignificant Guarantor) (or any similar relief is granted under any foreign laws),

       

      and the order or decree remains unstayed and in effect for 90 days;

       

      (g)         except as otherwise provided herein, a Guarantee of any Guarantor
        (other than an Insignificant Guarantor) ceases to be in full force and effect or is declared to be null and void and unenforceable or such Guarantee is found to be invalid or a Guarantor (other than an Insignificant Guarantor) denies its liability
        under its Guarantee (other than by reason of release of such Guarantee in accordance with the terms of this Indenture); or

       

      
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      (h)         any other Event of Default provided with respect to Securities of
        such series occurs.

       

      The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state or foreign law
        for the relief of debtors. The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law.

       

      A Default with respect to Securities of any series under clause (d) of this Section 5.01 shall not be an Event of Default
        until the Trustee (by written notice to the Company and the Guarantors) or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series (by written notice to the Company and the Guarantors and the
        Trustee) gives notice of the Default and the Company and the Guarantors does not cure such Default within the time specified in clause (d) after receipt of such notice. Such notice must specify the Default, demand that
        it be remedied and state that such notice is a “Notice of Default.”

       

      The Trustee is not to be charged with knowledge of any Default or Event of Default or knowledge of any cure of any Default or Event of Default unless
        written notice of such Default or Event of Default has been given to a Reasonable Officer of the Trustee by the Company or any Holder.

       

      Section 5.02.          Acceleration of Maturity; Rescission and Annulment.  If an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default
        specified in Section 5.01(e) or (f) with respect to the Company) occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series may
        declare the principal amount of all the Securities of such series (or, if any Securities of such series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof),
        together with any accrued and unpaid interest thereon, to be due and payable immediately, by a notice in writing to the Company and the Guarantors (and to the Trustee if given by Holders), and upon any such declaration, such principal amount (or
        specified amount), together with any accrued and unpaid interest thereon, shall become immediately due and payable. If an Event of Default specified in Section 5.01(e) or (f) with respect to the Company occurs, the principal amount of all the
        Securities of such series (or, in the case of any Security of such series which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof), together with any
        accrued and unpaid interest thereon, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. Upon payment of such amount, all obligations of the Company in
        respect of the payment of principal and interest of the Securities of such series shall terminate.

       

      Except as may otherwise be provided pursuant to Section 3.01 for all or any specific Securities of any series, at any time after such a declaration of
        acceleration with respect to the Securities of any series has been made and before a judgment or decree for

       

      
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      payment of the money due based on such acceleration has been obtained by the Trustee as hereinafter in this Article 5 provided, the Holders of a majority in aggregate
        principal amount of the Outstanding Securities of such series, by written notice to the Company, the Guarantors and the Trustee, may rescind and annul such declaration and its consequences if:

       

      (a)          the Company or any Guarantor has paid or deposited with the Trustee
        a sum sufficient to pay:

       

      (i)          all overdue interest on all Securities of such
        series,

       

      (ii)         the principal of and premium, if any, on any
        Securities of such series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in the Securities of such series,

       

      (iii)        to the extent that payment of such interest is
        lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and

       

      (iv)         all sums paid or advanced by the Trustee
        hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and

       

      (b)         all Events of Default with respect to Securities of such series,
        other than the nonpayment of the principal of Securities of such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.12.

       

      No such rescission shall affect any subsequent default or impair any right consequent thereon.

       

      Section 5.03.       Collection of Indebtedness and Suits for Enforcement by Trustee.  The Company covenants that if (a) default is made in the payment of any interest on any Security when such
        interest becomes due and payable and such default continues for a period of 30 days, or (b) default is made in the payment of the principal of or premium, if any, on any Security at the Maturity thereof, the Company will, upon demand of the
        Trustee, pay to the Trustee, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and premium, if any, and interest and, to the extent that payment of such interest shall be
        legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and
        expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

       

      If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and
        enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial

       

      
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      proceedings as the Trustee shall deem necessary to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this
        Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

       

      Section 5.04.       Trustee May File Proofs of Claim.  In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
        judicial proceeding relative to the Company, any Guarantor or any other obligor upon the Securities or the property of the Company, any Guarantor or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the
        Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company or any Guarantor for the payment of overdue principal or interest) shall
        be entitled and empowered, by intervention in such proceeding or otherwise;

       

      (a)          to file and prove a claim for the whole amount of principal and
        premium, if any, and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation,
        expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and

       

      (b)          to collect and receive any moneys or other property payable or
        deliverable on any such claims and to distribute the same;

       

      and any custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by the Holder to
        make such payments to the Trustee and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and
        advances of the Trustee, its agents and counsel, and for any other amounts due the Trustee under Section 6.07.

       

      No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan
        of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee.

       

      Section 5.05.       Trustee May Enforce Claims Without Possession of Securities.  All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee
        without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
        judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, any predecessor Trustee under

       

      
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      Section 6.07, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

       

      Section 5.06.       Application of Money Collected.  Any money collected by the Trustee pursuant to this Article 5, and any money or other property distributable in respect of the Company’s
        obligations under this Indenture after the occurrence of an Event of Default, shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or premium, if
        any, or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

       

      FIRST: To the payment of all amounts due the Trustee (including any predecessor Trustee) under Section 6.07;

       

      SECOND: To the payment of the amounts then due and unpaid for principal of and premium, if any, and interest on the Securities in respect of which or
        for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal and premium, if any, and interest, respectively; and

       

      THIRD: To the payment of the remainder, if any, to the Company or the Guarantors.

       

      Section 5.07.       Limitation on Suits.  Except as otherwise provided in Section 5.08, no Holder of any Security of any series shall have any right to institute any proceeding, judicial or
        otherwise, with respect to this Indenture, or for the appointment of a receiver, assignee, trustee, liquidator or sequestrator (or similar official) or for any other remedy hereunder, unless:

       

      (a)          Such Holder has previously given written notice to the Trustee of a
        continuing Event of Default, specifying an Event of Default with respect to the Securities of such series;

       

      (b)          the Holders of not less than 25% in aggregate principal amount of
        the Outstanding Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

       

      (c)          such Holder or Holders have offered to the Trustee indemnity
        reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request;

       

      (d)          the Trustee has failed to institute any such proceeding for 60 days
        after its receipt of such notice, request and offer of indemnity; and

       

      (e)          no direction inconsistent with such written request has been given
        to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series;

       

      
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      it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this
        Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein
        provided and for the equal and ratable benefit of all of such Holders.

       

      Section 5.08.       Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert Securities.  Notwithstanding any other provision in this Indenture, the Holder of any
        Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and premium, if any, and, subject to Section 3.07, interest on such Security on the respective Stated Maturities expressed in such Security
        (or, in the case of redemption or repayment, on the Redemption Date or date for repayment, as the case may be, and, if the terms of such Security so provide, to convert such Security in accordance with its terms) and to institute suit for the
        enforcement of any such payment and, if applicable, any such right to convert, and such rights shall not be impaired without the consent of such Holder.

       

      Section 5.09.        Rights and Remedies Cumulative.  Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph
        of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
        addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
        employment of any other appropriate right or remedy.

       

      Section 5.10.        Delay or Omission Not Waiver.  No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
        impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article 5 or by law to the Trustee or to the Holders may be exercised from time to time, and as
        often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

       

      Section 5.11.        Control by Holders.  The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time,
        method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided that

       

      (a)          such direction shall not be in conflict with any rule of law or with
        this Indenture and shall not involve the Trustee in any personal liability, and

       

      (b)          the Trustee may take any other action deemed proper by the Trustee
        which is not inconsistent with such direction.

       

      
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      Before proceeding to exercise any right or power hereunder at the direction of the Holders, the Trustee shall be entitled to receive from such Holders
        security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

       

      Section 5.12.        Waiver of Past Defaults.  The Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the
        Securities of such series waive any past Default hereunder with respect to such series and its consequences, except a Default

       

      (a)          in the payment of the principal of or premium, if any, or interest
        on any Security of such series, or

       

      (b)          in respect of a covenant or provision hereof which under Article 9
        cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected,

       

      provided that
          there had been paid or deposited with the Trustee a sum sufficient to pay all amounts due to the Trustee and to reimburse the Trustee for any and all fees, expenses and disbursements advanced by the Trustee, its agents and its counsel incurred in
          connection with such Default or Event of Default.

       

      Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every
        purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

       

      Section 5.13.       Undertaking for Costs.  In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted
        by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess reasonable costs against any such party litigant, in the manner and to the extent provided in the Trust
        Indenture Act; provided that neither this Section 5.13 nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an
        assessment in any suit instituted by the Company, any Guarantor or the Trustee, a suit by a Holder under Section 5.08, or a suit by Holders of more than 10% in aggregate principal amount of the Outstanding Securities.

       

      Section 5.14.        Waiver of Usury, Stay or Extension Laws.  Each of the Company and the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or
        plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and each of
        the Company and the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the
        Trustee,

       

      
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      but will suffer and permit the execution of every such power as though no such law had been enacted.

       

      Section 5.15.        Restoration of Rights and Remedies.  If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
        discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Guarantors, the Trustee and the Holders
        shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

       

      ARTICLE 6

      The Trustee

       

      Section 6.01.       Certain Duties and Responsibilities of Trustee.  (a)          Except during the continuance of an Event of Default with
        respect to any series of Securities,

       

      (i)           the Trustee undertakes to perform such duties
        and only such duties as are specifically set forth in this Indenture with respect to the Securities of such series, and no implied covenants or obligations shall be read into this Indenture against the Trustee with respect to such series; and

       

      (ii)         in the absence of bad faith on its part, the
        Trustee may conclusively rely with respect to the Securities of such series, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the
        requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether
        or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts, statements, opinions or conclusions stated therein).

       

      (b)          In case an Event of Default with respect to any series of Securities
        has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to the Securities of such series, and use the same degree of care and skill in their exercise, as a prudent person
        would exercise or use under the circumstances in the conduct of his or her own affairs.

       

      (c)          No provision of this Indenture shall be construed to relieve the
        Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:

       

      (i)          this Section 6.01(c) shall not be construed to
        limit the effect of Section 6.01(a) or Section 6.01(d);

       

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

       

      (iii)        the Trustee shall not be liable with respect to
        any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of any series, determined as provided in Sections 1.01, 1.04 and
        5.11, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series.

       

      (d)         No provision of this Indenture shall require the Trustee to expend or
        risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or
        adequate indemnity against such risk or liability is not reasonably assured to it.

       

      (e)          Whether or not therein expressly so provided, every provision of
        this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 6.01.

       

      Section 6.02.        Notice of Defaults.  If a Default occurs with respect to Securities of any series and is continuing and written notice of such Default has been received by a Responsible Officer
        of the Trustee at the Corporate Trust Office of the Trustee, the Trustee shall give to each Holder of Securities of such series notice of Default within 90 days after such written notice is received by such Responsible Officer. Except in the case
        of a Default in payment of principal of or interest on any Security, the Trustee may withhold notice if and so long as a committee of Responsible Officers in good faith determines that withholding such notice is in the interests of Holders of
        Securities of such series.

       

      Section 6.03.       Certain Rights of Trustee.  Subject to the provisions of Section 6.01:

       

      (a)          the Trustee may conclusively rely and shall fully be protected in
        acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it
        to be genuine and to have been signed or presented by the proper party or parties;

       

      (b)          any request or direction of the Company mentioned herein shall be
        sufficiently evidenced by a Company Request or Company Order, and any resolution of the member or members of the Company or board of managers of the Company, as the case may be, shall be sufficiently evidenced by a Company Resolution thereof;

       

      (c)          whenever in the administration of this Indenture the Trustee shall
        deem it desirable that a matter be proved or established prior to taking, suffering or omitting any

       

      
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      action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officers’
        Certificate of the Company or the Guarantors;

       

      (d)         the Trustee may consult with counsel of its selection and the advice
        of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;

       

      (e)          the Trustee shall be under no obligation to exercise any of the
        rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the
        costs, expenses and liabilities which might be incurred by it in compliance with such request or direction;

       

      (f)          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 Company or the Guarantors, personally or by agent or attorney at the sole cost of the Company or the Guarantors and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

       

      (g)         the Trustee may execute any of the trusts or powers hereunder or
        perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;

       

      (h)          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 employed to act hereunder;

       

      (i)          the Trustee shall not be liable for any action taken, suffered, or
        omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture;

       

      (j)          anything in this Indenture notwithstanding, in no event shall the
        Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such
        loss or damage and regardless of the form of action;

       

      (k)         in no event shall the Trustee be responsible or liable for any
        failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work

       

      
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      stoppages, pandemics or epidemics, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
        loss or malfunctions of utilities, communications or computer (software and hardware) services (it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume
        performance as soon as practicable under the circumstances);

       

      (l)          the Trustee shall not be deemed to have notice of any Default or
        Event of Default unless written notice of such Default or Event of Default, as the case may be, has been received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee from the Company or any Holder, and such notice
        references the Securities and this Indenture;

       

      (m)        the Trustee may request that the Company deliver an Officers’
        Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’
        Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; and

       

      (n)          the permissive right of the Trustee to take or refrain from taking
        action hereunder shall not be construed as a duty.

       

      Section 6.04.        Not Responsible for Recitals or Issuance of Securities.  The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken
        as the statements of the Company and the Guarantors, as the case may be, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities
        or the Guarantees. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof.

       

      Section 6.05.        May Hold Securities.  The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company or the Guarantors, in its individual or any other capacity, may
        become the owner or pledgee of Securities and, subject to Sections 6.08 and 6.13, may otherwise deal with the Company and the Guarantors with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other
        agent.

       

      Section 6.06.       Money Held in Trust.  Money held by the Trustee in trust hereunder shall, until used or applied as herein provided, be held in trust for the purposes for which they were received,
        but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

       

      Section 6.07.        Compensation and Reimbursement.  The Company and each Guarantor jointly and severally agrees:

       

      
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      (a)          to pay to the Trustee from time to time such reasonable compensation
        as shall be agreed to in writing between the parties hereto for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

       

      (b)         except as otherwise expressly provided herein, to reimburse the
        Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements
        of its agents and counsel and all Persons not regularly in its employ), except any such expense, disbursement or advance as may be attributable to its negligence, willful misconduct or bad faith, and the Trustee shall provide the Company reasonable
        notice of any expenditure not in the ordinary course of business; and

       

      (c)          to indemnify each of the Trustee or any predecessor Trustee and
        their officers, agents, directors and employees for, and to hold them harmless against, any and all loss, damage, claims, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with this
        Indenture, the Securities and the transactions contemplated hereby and thereby, including the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending itself against any claim (whether
        asserted by the Company, or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section.

       

      In addition to, but without prejudice to its other rights under this Indenture, when the Trustee incurs expenses or renders services in connection with
        an Event of Default specified in Section 5.01(e) or (f), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under
        any applicable Federal or state bankruptcy, insolvency or other similar law.

       

      “Trustee” for purposes of this Section shall include any predecessor Trustee; provided,
          however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder.

       

      As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior
        to the Securities upon all property and funds held or collected by it hereunder for any amount owing it or any predecessor Trustee pursuant to this Section 6.07, except with respect to funds held in trust for the benefit of the Holders of
        particular Securities for the payment of principal of and premium, if any, or interest.

       

      The provisions of this Section 6.07 shall survive the satisfaction and discharge of the Securities, the termination for any reason of this Indenture
        and the resignation or removal of the Trustee.

       

      
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      Section 6.08.       Conflicting Interests.  If the Trustee has or shall acquire a conflicting interest within the meaning of Section 310(b) of the Trust Indenture Act,
        the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.

       

      To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under
        this Indenture with respect to Securities of more than one series or under the Indenture dated as of September 29, 2010, among KKR Group Finance Co. LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as Trustee,
        under the Indenture dated as of February 1, 2013, among KKR Group Finance Co. II LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A, as Trustee, under the Indenture dated as of May 29, 2014, among KKR Group Finance
        Co. III LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as Trustee, under the Indenture dated as of March 23, 2018, among KKR Group Finance Co. IV LLC, the Guarantors named therein and The Bank of New York
        Mellon Trust Company, N.A., as Trustee, in each case as supplemented or amended, under the Indenture dated as of May 22, 2019, among KKR Group Finance Co. V LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as
        Trustee, under the Indenture dated as of July 1, 2019, among KKR Group Finance Co. VI LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as Trustee, under the Indenture dated as of February 25, 2020, among KKR
        Group Finance Co. VII LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as Trustee, under the Indenture dated as of August 25, 2020, among KKR Group Finance Co. VIII LLC, the Guarantors named therein and The
        Bank of New York Mellon Trust Company, N.A., as Trustee or under the Indenture dated as of March 31, 2021, among KKR Group Finance Co. IX LLC, the Guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as Trustee in each case
        as supplemented or amended.

       

      Section 6.09.        Corporate Trustee Required; Eligibility.  There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee
        hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate Trust Office
        in the Borough of Manhattan, The City of New York or Pittsburgh, Pennsylvania or any other major city in the United States that is acceptable to the Company. If any such Person publishes reports of condition at least annually, pursuant to law or to
        the requirements of its supervising or examining authority, then for the purposes of this Section 6.09 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined
        capital and surplus as set forth in its most recent annual report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section 6.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Article 6.

       

      
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      Section 6.10.        Resignation and Removal; Appointment of Successor.  No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article 6 shall become
        effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11.

       

      The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving written notice
        thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition,
        at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

       

      The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount
        of the Outstanding Securities of such series, upon written notice delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 30
        days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

       

      If at any time:

       

      (a)         the Trustee shall fail to comply with Section 6.08 after written
        request therefor by the Company, the Guarantors or any Holder who has been a bona fide Holder of a Security for at least six months,

       

      (b)         the Trustee shall cease to be eligible under Section 6.09 and shall
        fail to resign after written request therefor by the Company, the Guarantors or any such Holder, or

       

      (c)         the Trustee shall become incapable of
        acting or shall be adjudged bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee
        or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the Company or the Guarantors may remove the Trustee with respect to all Securities or (ii) subject to Section 5.13, Holders
        of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of such Securities for at least six months may, on behalf of themselves and
        all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

       

      If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect
        to the Securities of one or more series, the Company or the Guarantors shall promptly appoint a successor

       

      
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      Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the
        Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.11. If, within one year
        after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in aggregate principal amount of the
        Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11,
        become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company or the Guarantors. If no successor Trustee with respect to the Securities of any series shall
        have been so appointed by the Company, the Guarantors or the Holders and accepted appointment in the manner required by Section 6.11, Holders of 10% in aggregate principal amount of Securities of any series who have been bona fide Holders of Securities of such series for at least six months may, on behalf of themselves and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with
        respect to the Securities of such series.

       

      The Company or the Guarantors shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and
        each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 1.06.

       

      Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust
        Office.

       

      Section 6.11.        Acceptance of Appointment by Successor.  In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed
        shall execute, acknowledge and deliver to the Company, the Guarantors and the retiring Trustee a written instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such
        successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee, but, on the request of the Company, the Guarantors or the successor Trustee, such retiring
        Trustee shall, upon payment of its charges, execute and deliver a written instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor
        Trustee all property and money held by such retiring Trustee hereunder subject nonetheless to the lien provided for in Section 6.07.

       

      In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the
        Guarantors, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (a) shall contain such provisions as

       

      
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      shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with
        respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (b) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as
        shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be
        vested in the retiring Trustee, and (c) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
        Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any
        trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each
        such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such
        successor Trustee relates; but, on request of the Company, the Guarantors or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
        hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates subject nonetheless to the lien provided for in Section 6.07.

       

      Upon request of any such successor Trustee, the Company and the Guarantors shall execute any and all instruments for more fully and certainly vesting
        in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be.

       

      No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under
        this Article 6.

       

      Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of
        the succession of such trustee hereunder by mail, first class postage prepaid, to the Holders, as their names and addresses appear upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of
        appointment by the successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.

       

      Section 6.12.        Merger, Conversion, Consolidation or Succession to Business.  Any Person into which the Trustee may be merged or converted or with which it may be consolidated, or any Person
        resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder;
        provided that such Person shall be otherwise qualified and eligible under this Article 6, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been
        authenticated, but not delivered, by

       

      
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      the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities
        so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities; and in case at that time any Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities
        either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the
        certificate of the Trustee shall have.

       

      Section 6.13.        Preferential Collection of Claims Against Company.  If and when the Trustee shall be or become a creditor of the Company or any Guarantor (or any other obligor upon the
        Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company or any Guarantor (or any such other obligor).

       

      Section 6.14.       Trustee’s Application for Instructions from the Company.  Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in
        writing any action proposed (to the extent not provided for in this Indenture) to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee
        shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than 10 Business Days after the
        date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee
        shall have received written instructions in response to such application specifying the action to be taken or omitted.

       

      ARTICLE 7

      Holders’ Lists and Reports by the Trustee, the Company and the Guarantors

       

      Section 7.01.        Company to Furnish Trustee Names and Addresses of Holders.  If the Trustee is not the Security Registrar, the Company shall cause the Security Registrar to furnish to the Trustee,
        in writing at least five 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 of Securities of each series.

       

      Section 7.02.        Preservation of Information; Communications to Holders.  The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders
        contained in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may dispose of any list furnished to it as
        provided in Section 7.01 upon receipt of a new list so furnished.

       

      
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      The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the
        corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act.

       

      Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any
        agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act, as if the Trust Indenture Act were applicable.

       

      Section 7.03.        Reports by Trustee.  The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust
        Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days after each December 10 following the date of this
        Indenture, deliver to Holders a brief report, dated as of such December 10, which complies with the provisions of such Section 313(a).

       

      A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange and automated quotation
        system, if any, upon which any Securities are listed, with the Commission (if accepted for filing by the Commission) and the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange or automated quotation
        system or delisted therefrom.

       

      Section 7.04.        Reports by the Company and the Guarantors.  Delivery of reports, information and documents to the Trustee is for informational purposes only and shall not constitute a
        representation or warranty as to the accuracy or completeness of the reports, information and documents. The Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information
        contained therein, including the Company’s or the Guarantors’ compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates of the Company).

       

      ARTICLE 8

      Consolidation, Merger, Sale of Assets and Other Transactions

       

      Section 8.01.        Company and Guarantors May Merge or Transfer Assets on Certain Terms.  (a) None of the Credit Parties shall be a party to a Substantially All Merger or participate in a
        Substantially All Sale, unless:

       

      (i)          such Credit Party is the surviving Person, or the
        Person formed by or surviving such Substantially All Merger or to which such Substantially All Sale has been made (the “Successor Person”) is organized under the laws of the
        United States or any state thereof, or, other than with respect to the Company, Belgium, Bermuda, Canada, Cayman Islands, France, Germany, Gibraltar, Ireland, Italy, Luxembourg, the Netherlands, Switzerland, the United Kingdom or

       

      
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      British Crown Dependencies, a member country of the Organisation for Economic Co-operation and Development or any political subdivision of any of the
        foregoing (together with the United States or any state thereof, the “Permitted Jurisdictions”), and has expressly assumed by supplemental indenture all of the obligations of such Credit Party under this
        Indenture;

       

      (ii)         immediately after giving effect to such
        transaction, no Default or Event of Default has occurred and is continuing; and

       

      (iii)         the Company delivers to the Trustee an Officers’
        Certificate and an Opinion of Counsel, each stating that such transaction and any supplemental indenture relating thereto comply with this Indenture and that all conditions precedent provided for in this Indenture relating to such transaction have
        been complied with.

       

      (b)          For as long as any Securities of any series under this Indenture
        remain outstanding, all equity and voting interests in the Company shall be owned directly or indirectly by one or more Guarantors and each of the Credit Parties must be organized under the laws of a Permitted Jurisdiction.

       

      Section 8.02.        Successor Person Substituted.  Upon the consummation of a transaction contemplated by and consummated in accordance with Section 8.01, the Successor Person shall succeed to, and
        be substituted for, and may exercise every right and power of, the applicable Credit Party under this Indenture, with the same effect as if such Successor Person had been an original party to this Indenture, and, except in the case of a lease, the
        applicable Credit Party shall be released from all of its liabilities and obligations under this Indenture and the Securities (including the Guarantees).

       

      ARTICLE 9

      Supplemental Indentures

       

      Section 9.01.        Supplemental Indentures Without Consent of Holders.  Without the consent of any Holders, the Company, the Guarantors and the Trustee, at any time and from time to time, may enter
        into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:

       

      (a)          to add to the covenants for the benefit of the Holders of all or any
        series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power
        conferred upon the Company or any Guarantor hereunder, under any indenture supplemental hereto or under any series of Securities;

       

      (b)          to evidence the succession of another Person to the Company or any
        Guarantor, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company or such Guarantor pursuant to Article 8;

       

      
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      (c)          to add any additional Events of Default for the benefit of the
        Holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit
        of such series);

       

      (d)         to add new Guarantors;

       

      (e)          to provide for the release of any Guarantor in accordance with this
        Indenture;

       

      (f)          to secure the Securities;

       

      (g)         to evidence and provide for the acceptance of appointment hereunder
        by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than
        one Trustee, pursuant to the requirements of Section 6.11;

       

      (h)         to provide for the issuance of additional Securities of any series;

       

      (i)          to establish the form or terms of Securities of any series as
        permitted by Sections 2.01 and 3.01;

       

      (j)          to comply with the rules of any applicable Depositary;

       

      (k)          to add to or change any of the provisions of this Indenture to such
        extent as shall be necessary to permit or facilitate the issuance of Securities in uncertificated form;

       

      (l)          to add to, change or eliminate any of the provisions of this
        Indenture in respect of one or more series of Securities; provided that any such addition, change or elimination (i) shall neither (A) apply to any Security of any series
        created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (B) modify the rights of the Holder of any such Security with respect to such provision or (ii) shall become effective only when there
        is no Security described in clause (A) Outstanding;

       

      (m)        to cure any ambiguity, to correct or supplement any provision of this
        Indenture which may be defective or inconsistent with any other provision herein;

       

      (n)         to change any other provision contained in the Securities of any
        series or under this Indenture; provided that such action pursuant to this clause (n) shall not adversely affect the interests of the Holders of
        Securities of any series in any material respect; and

       

      (o)         to conform any provision of this
          Indenture or the Securities of any series to the description of such Securities contained in the Company’s prospectus, prospectus supplement, offering memorandum or similar document with respect to the offering of the Securities of such series.

       

      
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      Section 9.02.        Supplemental Indentures With Consent of Holders.  With the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected by
        such supplemental indenture (including consents obtained in connection with a tender offer or exchange for Securities), by Act of said Holders delivered to the Company, the Guarantors and the Trustee, the Company, the Guarantors and the Trustee may
        enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of
        Securities of such series under this Indenture; provided, however, no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security of
        such series affected thereby:

       

      (a)         change the Stated Maturity of the principal of, or any installment of
        principal of or interest on, any Security;

       

      (b)         reduce the principal amount of any Security or reduce the amount of
        the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or reduce the rate of or extend the time of payment of
        interest on any Security;

       

      (c)          reduce any premium payable upon the redemption of or change the date
        on which any Security may or must be redeemed;

       

      (d)          change the coin or currency in which the principal of or premium, if
        any, or interest on any Security is payable;

       

      (e)          impair the right of any Holder to institute suit for the enforcement
        of any such payment on or after the Stated Maturity thereof (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date, as applicable);

       

      (f)          reduce the percentage in principal amount of the Outstanding
        Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults
        hereunder and their consequences) provided for in this Indenture;

       

      (g)         modify any of the provisions of this Section 9.02, Section 5.12 or
        Section 10.05, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in
        this Section 9.02 and Section 10.05, or the deletion of this proviso, in accordance with the requirements of Section 6.11 and Section 9.01(g);

       

      (h)          if the Securities of any series are convertible into or for any
        other securities or property of the Company, make any change that adversely affects in any material

       

      
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      respect the right to convert any Security of such series (except as permitted by Section 9.01) or decrease the conversion rate or increase the conversion price of any
        such Security of such series, unless such decrease or increase is permitted by the terms of such Security;

       

      (i)          subordinate the Securities of any series or any Guarantee of a
        Guarantor in respect thereof to any other obligation of the Company or such Guarantor;

       

      (j)          modify the terms of any Guarantee in a manner adverse to the Holders
        of Securities of a series; or

       

      (k)          modify clauses (a) through (j) above.

       

      A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the
        benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the
        Holders of Securities of any other series.

       

      It shall not be necessary for any Act of Holders under this Section 9.02 to approve the particular form of any proposed supplemental indenture, but it
        shall be sufficient if such Act shall approve the substance thereof.

       

      Section 9.03.        Execution of Supplemental Indentures.  In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article 9 or the modifications
        thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents provided by Section 1.02, and, subject to Section 6.01, shall be fully protected in relying upon, an Opinion of Counsel stating
        that the execution of such supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent in this Indenture to the execution of such supplemental indenture, if any, have been complied with; provided, however, that no such Opinion of Counsel shall be required in the case of any supplemental indenture executed and delivered concurrently with the original execution and
        delivery of this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

       

      Section 9.04.       Effect of Supplemental Indentures.  Upon the execution of any supplemental indenture under this Article 9, this Indenture shall be modified in accordance therewith, and such
        supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

       

      Section 9.05.       Reserved.

       

      Section 9.06.       Notice of Supplemental Indenture; Reference in Securities to Supplemental Indentures.  After a supplemental indenture under Section 9.01 (other than

       

      
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      Section 9.01(i) and 9.02 becomes effective, the Company shall mail to the Trustee a notice briefly describing such supplemental indenture or a copy of such supplemental
        indenture and the Trustee shall on behalf of the Company and at the expense of the Company mail such notice or supplemental indenture to Holders affected thereby. Any failure of the Trustee to mail such notice, or any defect therein, or any failure
        of the Trustee to mail such supplemental indenture, shall not in any way impair or affect the validity of any such supplemental indenture.

       

      Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article 9 may, and shall if
        required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the
        Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series.

       

      ARTICLE 10

      Covenants

       

      Section 10.01.      Payment of Principal, Premium, if any, and Interest.  The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the
        principal of and premium, if any, and interest on the Securities of such series in accordance with the terms of the Securities and this Indenture. Principal and interest shall be considered paid on the date due if, on or before 10:00 a.m. (New York
        City time) on such date, the Trustee or the Paying Agent (or, if the Company or any Subsidiary of the Corporation is the Paying Agent, the segregated account or separate trust fund maintained by the Company or such Subsidiary pursuant to Section
        10.03) holds in accordance with this Indenture money sufficient to pay all principal, premium and interest then due.

       

      The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue installments
        of interest at the same rate to the extent lawful as provided in Section 3.07.

       

      Notwithstanding anything to the contrary contained in this Indenture, the Company, the Guarantors or the Paying Agent may, to the extent it is required
        to do so by law, deduct or withhold income or other similar taxes imposed by the United States of America or other domestic or foreign taxing authorities from principal, premium or interest payments hereunder.

       

      Section 10.02.      Maintenance of Office or Agency.  The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of such series may be
        presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion, and where notices and demands to or upon the Company in respect
        of the Securities of such series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the

       

      
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      location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the
        address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. The Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and
        demands.

       

      The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or
        surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its
        obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location
        of any such other office or agency.

       

      With respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by Section 3.01, the Corporate
        Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where successor Securities may be delivered in exchange therefor; provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall be deemed to have been effected at
        the Place of Payment for such Global Security in accordance with the provisions of this Indenture.

       

      Section 10.03.      Money for Securities Payments to Be Held in Trust.  If the Company shall at any time act as Paying Agent with respect to any series of Securities, it will, on or before each due
        date for the principal of or premium, if any, or interest on any of the Securities of such series, segregate and hold in trust for the benefit of the Holders of such Securities a sum sufficient to pay the principal and premium, if any, and interest
        so becoming due until such sums shall be paid to such Holders or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act.

       

      Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, no later than 10:00 a.m. (New York City time) on each
        due date for the principal of or premium, if any, or interest on any Securities of such series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held in trust for the Holders of such Securities entitled to the same,
        and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

       

      The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in
        which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 10.03, that such Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such Paying Agent for the payment of
        principal of, premium, if any, or interest on the Securities and shall notify the Trustee in writing of any default by the Company in making any such payment and that it shall any time during the continuance of such

       

      
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      default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held by such Paying Agent.

       

      The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company
        Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent;
        and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

       

      Subject to any applicable abandoned property law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for
        the payment of the principal of or premium, if any, or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company
        Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or
        such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

       

      Section 10.04.     Statement by Officers as to Default.  The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company ending after the date hereof an
        Officers’ Certificate of the Company and one of the two Officers signing must be the Company’s principal executive officer, principal financial officer or principal accounting officer, stating whether or not, to the best knowledge of such Officer,
        the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture applicable to it (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company
        shall be in default, specifying all such defaults and the nature and status thereof of which such Officer may have knowledge.

       

      The Company shall deliver to the Trustee, as soon as possible and in any event within 30 days after the Company becomes aware of the occurrence of any
        Default or Event of Default an Officers’ Certificate setting forth the details of such Default or Event of Default, its status and the actions which the Company is taking or proposes to take with respect thereto.

       

      Section 10.05.      Waiver of Certain Covenants.  Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the Company or the Guarantors, as the case may be, may,
        with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 3.01(r), Section 9.01(a) or Section
        9.01(l) for the benefit of the Holders of such series or in Article 8, if before the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such
        Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or

       

      
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      condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become
        effective, the obligations of the Company or the Guarantors, as the case may be, and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

       

      Section 10.06.      No Conflicts with Sanctions Law. Neither the Company nor the Guarantors nor, to the knowledge of the Company and the Guarantors, any director, officer, agent, employee or Affiliate of the Company or the
        Guarantors, is an individual or entity (“Person”) that is, or is owned or controlled by a Person that is currently subject to any sanctions (“Sanctions”) administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury, and each of the Company and the Guarantors represents and covenants that they will not, directly or
        indirectly, use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any of the Company or the Guarantors, joint venture partner or other Person for the purpose of financing the
        activities of any person that is the subject of Sanctions.

       

      ARTICLE 11

      Redemption of Securities

       

      Section 11.01.      Applicability of Article.  Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise
        specified as contemplated by Section 3.01 for such Securities) in accordance with this Article 11.

       

      Section 11.02.      Election to Redeem; Notice to Trustee.  The election of the Company to redeem any Securities shall be evidenced by a Company Resolution or an Officers’ Certificate of the Company
        or in another manner specified as contemplated by Section 3.01 for such Securities. In case of any redemption at the election of the Company of the Securities of any series (including any such redemption affecting only a single Security), the
        Company shall, at least 15 days prior to the date any notice of a redemption is to be given to the Holders pursuant to Section 11.04 (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the
        principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in
        the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate of the Company evidencing compliance with such restriction.

       

      Section 11.03.      Selection by Trustee of Securities to Be Redeemed.  If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified
        tenor are to be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of
        such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate, including by lot or pro rata, and which may provide for the selection for redemption of a portion of the principal amount of any
        Security of such series; provided

       

      
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      that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized
        denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more
        than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. Notwithstanding the foregoing, as long as
        the Securities of any series are represented by one or more Global Securities, beneficial interests in such Securities shall be selected for redemption by the Depositary therefor in accordance with the Applicable Procedures.

       

      If any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of the
        Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a selection of securities to be redeemed shall be treated by the
        Trustee as Outstanding for the purpose of such selection.

       

      The Trustee shall promptly notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected
        for partial redemption as aforesaid, the principal amount thereof to be redeemed.

       

      The provisions of the three preceding paragraphs shall not apply with respect to any redemption affecting only a single
        Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than
        the minimum authorized denomination) for such Security.

       

      For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the
        case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed.

       

      Section 11.04.      Notice of Redemption.  Notice of redemption shall be transmitted not less than 15 nor more than 60 days prior to the Redemption Date (or within such period as otherwise specified
        as contemplated by Section 3.01 for Securities of a series), to each Holder of Securities to be redeemed, at such Holder’s address appearing in the Security Register.

       

      All notices of redemption shall identify the Securities to be redeemed and shall state:

       

      (a)         the Redemption Date;

       

      (b)         the Redemption Price (or the method of calculating such price);

       

      
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      (c)          if less than all the Outstanding Securities of any series consisting
        of more than a single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the respective principal amounts) of the particular Securities to be redeemed and, if less than all the
        Outstanding Securities of any series consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed;

       

      (d)          that on the Redemption Date the Redemption Price will become due and
        payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date;

       

      (e)          the place or places where each such Security is to be surrendered
        for payment of the Redemption Price;

       

      (f)          for any Securities that by their terms may be converted, the terms
        of conversion, the date on which the right to convert the Security to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion;

       

      (g)          that the redemption is for a sinking fund, if such is the case; and

       

      (h)          if applicable, the CUSIP, ISIN or any similar numbers of the
        Securities of such series; provided, however, that no representation will be made as to the correctness or accuracy of the CUSIP, ISIN or any similar number, if any, listed
        in such notice or printed on the Securities.

       

      Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request (which may
        be rescinded or revoked at any time prior to the time at which the Trustee shall have given such notice to the Holders), by the Trustee in the name and at the expense of the Company. The notice, if mailed in the manner herein provided, shall be
        conclusively presumed to have been given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder of any Security designated for redemption as a whole or in part
        shall not affect the validity of the proceedings for the redemption of any other Securities.

       

      Section 11.05.      Deposit of Redemption Price.  By no later than 10:00 a.m. (New York City time) on any Redemption Date, the Company shall deposit or cause to be deposited with the Trustee or with
        a Paying Agent (or, if any of the Credit Parties is acting as Paying Agent, such Credit Party will segregate and hold in trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption
        Date shall be an Interest Payment Date or the Securities of the series provide otherwise) accrued interest on, all the Securities which are to be redeemed on that date, other than Securities or portions of Securities called for redemption which are
        owned by any of the Credit Parties and have been delivered by such Credit Party to the Trustee for cancellation. All money, if any, earned on funds held by the Paying Agent shall be remitted to the Company.  In addition, the Paying Agent shall
        promptly return to

       

      
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      the Company any money deposited with the Paying Agent by the Company in excess of the amounts necessary to pay the Redemption Price of, and accrued interest, if any, on,
        all Securities to be redeemed.

       

      If any Security called for redemption is converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust
        for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of Section 3.07 or in the terms of such Security) be paid to the
        Company upon Company Request or, if then held by the Company, shall be discharged from such trust.

       

      Section 11.06.      Securities Payable on Redemption Date.  Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable
        at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security
        for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by Section 3.01, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or
        more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 3.07.

       

      If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid,
        bear interest from the Redemption Date at the rate prescribed therefor in the Security.

       

      Section 11.07.      Securities Redeemed in Part.  Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
        requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Company shall execute, and the
        Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in principal amount equal
        to and in exchange for the unredeemed portion of the principal of the Security so surrendered.

       

      ARTICLE 12

      Sinking Funds

       

      Section 12.01.      Applicability of Article.  The provisions of this Article 12 shall be applicable to any sinking fund for the retirement of Securities of any series except as otherwise specified
        as contemplated by Section 3.01 for such Securities.

       

      
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      The minimum amount of any sinking fund payment provided for by the terms of any series of Securities is herein referred to as a “mandatory sinking fund
        payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund payment.” If provided for by the terms of any series of Securities, the cash amount of any
        sinking fund payment may be subject to reduction as provided in Section 12.02. Each sinking fund payment shall be applied to the redemption of Securities of the series as provided for by the terms of such Securities.

       

      Section 12.02.     Satisfaction of Sinking Fund Payments with Securities.  The Company (a) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (b)
        may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of
        such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms
        of such Securities; provided that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for
        such purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

       

      Section 12.03.     Redemption of Securities for Sinking Fund.  Not less than 60 days (or such shorter period as shall be satisfactory to the Trustee) prior to each sinking fund payment date for any
        Securities, the Company will deliver to the Trustee an Officers’ Certificate of the Company specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any,
        which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 12.02 and will also deliver to the Trustee any Securities to be so delivered. Not less
        than 30 days prior to each such sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.03 and cause notice of the redemption thereof to be given in
        the name of and at the expense of the Company in the manner provided in Section 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections
        11.06 and 11.07.

       

      ARTICLE 13

      Defeasance and Covenant Defeasance

       

      Section 13.01.     Company’s Option to Effect Defeasance or Covenant Defeasance.  Unless otherwise provided as contemplated by Section 3.01, Sections 13.02 and 13.03
        shall apply to all Securities and each series of Securities, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance with any applicable requirements provided pursuant to Section 3.01 and upon compliance with the conditions
        set forth below in this Article 13; and the Company may elect, at its option at any time, to have Section 13.02

       

      
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      and Section 13.03 applied to any Securities or any series of Securities, designated pursuant to Section 3.01 as being defeasible pursuant to such Section 13.02 and
        Section 13.03, in accordance with any applicable requirements provided pursuant to Section 3.01 and upon compliance with the conditions set forth below in this Article 13. Any such election shall be evidenced by a Company Resolution, Officers’
        Certificate of the Company or in another manner specified as contemplated by Section 3.01 for such Securities.

       

      Section 13.02.      Defeasance and Discharge.  Upon the Company’s exercise of its option, if any, to have this Section 13.02 applied to any Securities or any series of Securities, or if this Section
        13.02 shall otherwise apply to any Securities or any series of Securities, the Company and the Guarantors shall be deemed to have been discharged from their respective obligations with respect to such Securities and related Guarantees as provided
        in this Section 13.02 on and after the date the conditions set forth in Section 13.04 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means
        that each of the Company and the Guarantors shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and Guarantees and to have satisfied all its other obligations under such Securities and Guarantees and
        this Indenture insofar as such Securities and Guarantees are concerned (and the Trustee, at the expense of the Company or the Guarantors, as the case may be, shall execute proper instruments acknowledging the same), subject to the following which
        shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 13.04 and as more fully set forth in such Section 13.05, payments in respect
        of the principal of and premium, if any, and interest on such Securities when payments are due, (b) the Company’s obligations with respect to such Securities and the Guarantors’ obligations with respect to such Guarantees under Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (d) this Article 13. Subject to compliance with this Article 13, the Company or the
        Guarantors may exercise their option, if any, to have this Section 13.02 applied to the Securities of any series and the related Guarantees notwithstanding the prior exercise of its option, if any, to have Section 13.03 applied to such Securities
        and Guarantees.

       

      Section 13.03.      Covenant Defeasance.  Upon the Company’s exercise of its option, if any, to have this Section 13.03 applied to any Securities or any series of Securities, or if this Section 13.03
        shall otherwise apply to any Securities or any series of Securities, (a) the Company and the Guarantors shall be released from their respective obligations under Section 8.01 and any covenants provided pursuant to Section 3.01(r), Section 9.01(a)
        or Section 9.01(l) for the benefit of the Holders of such Securities and (b) the occurrence of any event specified in Section 5.01(d) and Section 5.01(h) shall be deemed not to be or result in an Event of Default, in each case with respect to such
        Securities and Guarantees as provided in this Section 13.03 on and after the date the conditions set forth in Section 13.04 are satisfied (hereinafter called “Covenant Defeasance”).
        For this purpose, such Covenant Defeasance means that, with respect to such Securities and Guarantees, each of the Company and the Guarantors may omit to comply with and shall have no liability in respect of any term, condition or limitation set
        forth in any such specified Section, whether directly or indirectly by reason of any reference elsewhere

       

      
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      herein to any such Section or by reason of any reference in any such Section to any other provision herein or
        in any other document, but the remainder of this Indenture and such Securities and Guarantees shall be unaffected thereby.

       

      Section 13.04.     Conditions to Defeasance or Covenant Defeasance.  The following shall be the conditions to the application of Section 13.02 or 13.03 to any Securities or any series of Securities:

       

      (a)          The Company shall irrevocably have deposited or caused to be
        deposited with the Trustee (or another trustee which satisfies the requirements contemplated by Section 6.09 and agrees to comply with the provisions of this Article 13 applicable to it) as trust funds in trust for the purpose of making the
        following payments, specifically pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, (i) money in an amount, or (ii) U.S. Government Obligations which through the scheduled
        payment of principal and interest in respect thereof in accordance with their terms will provide money in an amount, or (iii) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public
        accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and premium, if any,
        and interest on such Securities to the respective Stated Maturities or Redemption Dates, in accordance with the terms of this Indenture and such Securities. As used herein, “U.S.
          Government Obligation” means (x) any security which is (A) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or
        (B) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of
        America, which, in either case (A) or (B), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2)
        of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect
        to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held; provided that (except as required by law) such custodian
        is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest
        evidenced by such depositary receipt.

       

      (b)         In the event of an election to have Section 13.02 apply to any
        Securities or any series of Securities, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) since the
        date of this Indenture, there has been a change in the applicable Federal income tax law, in either case (i) or (ii) to the effect that, and based thereon such opinion shall confirm that, the beneficial owners of such Securities will not recognize
        gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at

       

      
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      the same times as would be the case if such deposit, Defeasance and discharge were not to occur.

       

      (c)          In the event of an election to have Section 13.03 apply to any
        Securities or any series of Securities, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the beneficial owners of such Securities will not recognize gain or loss for Federal income tax purposes as a result of
        the deposit and Covenant Defeasance to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance
        were not to occur.

       

      (d)         The Company shall have delivered to the Trustee an Officers’
        Certificate of the Company to the effect that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit.

       

      (e)          No Default or Event of Default with respect to such Securities or
        any other Securities shall have occurred and be continuing at the time of such deposit or, insofar as Section 5.01(e) or Section 5.01(f) are concerned, at any time on or prior to the 90th day after the date of such deposit (it being understood that
        this condition shall not be deemed satisfied until after such 90th day).

       

      (f)          Such Defeasance or Covenant Defeasance shall not result in a breach
        or violation of, or constitute a default under, any other material agreement or instrument to which the Company is a party or by which it is bound.

       

      (g)         The Company shall have delivered to the Trustee an Officers’
        Certificate of the Company and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with (in each case, subject to the satisfaction of the condition in clause (e)).

       

      Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in
        accordance with Article 11.

       

      Section 13.05.      Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions.  Subject to the provisions of the last paragraph of Section 10.03, all money and
        U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section 13.05 and Section 13.06, the Trustee and any such other trustee are referred to collectively as
        the “Trustee”) pursuant to Section 13.04 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities
        and this Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in
        respect of principal and premium, if any, and interest, but money so held in trust need not be segregated from other funds except to the extent required by law.

       

      
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      The Company and each Guarantor jointly and severally agrees to pay and indemnify the Trustee against any tax, fee or other charge imposed on or
        assessed against the U.S. Government Obligations deposited pursuant to Section 13.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of
        Outstanding Securities; provided that the Trustee shall be entitled to charge any such tax, fee or other charge to such Holder’s account.

       

      Anything in this Article 13 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any
        money or U.S. Government Obligations held by it as provided in Section 13.04 with respect to any Securities which are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as
        the case may be, with respect to such Securities.

       

      Section 13.06.      Reinstatement.  If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article 13 with respect to any Securities by reason of any order or
        judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities and Guarantees from which the Company and the Guarantors have been
        discharged or released pursuant to Section 13.02 or 13.03 shall be revived and reinstated as though no deposit had occurred pursuant to this Article 13 with respect to such Securities and Guarantees, until such time as the Trustee or Paying Agent
        is permitted to apply all money held in trust pursuant to Section 13.05 with respect to such Securities and Guarantees in accordance with this Article 13; provided, however,
        that (a) if the Company or the Guarantors makes any payment of principal of or premium, if any, or interest on any such Security following such reinstatement of its obligations, the Company or the Guarantors, as the case may be, shall be subrogated
        to the rights, if any, of the Holders of such Securities to receive such payment from the money so held in trust and (b) unless otherwise required by any legal proceeding or any order or judgment of any court or governmental authority, the Trustee
        or Paying Agent shall return all such money and U.S. Government Obligations to the Company or the Guarantors, as the case may be, promptly after receiving a written request therefor at any time, if such reinstatement of the obligations of the
        Company or the Guarantors, as the case may be, has occurred and continues to be in effect.

       

      ARTICLE 14

      Guarantee of Securities

       

      Section 14.01.     Guarantee.  Each Guarantor hereby jointly and severally and fully and unconditionally guarantees to each Holder of a Security authenticated and delivered by the Trustee hereunder,
        and to the Trustee on behalf of each such Holder, the due and punctual payment in full of the principal of and premium, if any, and interest on such Security and all other amounts payable by the Company under the Indenture when and as the same
        shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, and interest on the overdue principal and (to the extent permitted by law) interest, if any, on such Security
        (collectively, the

       

      
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      “Obligations”), in accordance with the terms of such Security and this Indenture. If the Company shall fail to pay when due any
        Obligations, for whatever reason, each Guarantor shall be jointly and severally obligated to pay in cash the same promptly. An Event of Default under this Indenture or the Security of any series shall entitle the Holders of such Securities to
        accelerate the Obligations of the Guarantors hereunder in the same manner and to the same extent as the Obligations of the Company.

       

      Section 14.02.      Additional Guarantors.  The Company and each Guarantor shall cause each New KKR Entity (other than a Non-Guarantor Entity) to become a Guarantor pursuant to this Indenture and
        provide a Guarantee in respect of the Securities.

       

      Section 14.03.     Waiver.  To the fullest extent permitted by applicable law, each Guarantor hereby waives the benefits of diligence, presentment, demand for payment, any requirement that the
        Trustee or any of the Holders exhaust any right or take any action against the Company or any other Person, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the
        Company, protest or notice with respect to any Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that no Guarantee will be discharged in respect of any Security except by complete performance of the
        Obligations contained in such Security and in this Article.

       

      Section 14.04.      Guarantee of Payment.  Each Guarantee shall constitute a guarantee of payment when due and not a guarantee of collection. The Guarantors hereby agree that, in the event of a
        default in payment of principal of or premium, if any, or interest on any Security, whether at its Stated Maturity, by declaration of acceleration, call for redemption or otherwise, legal proceedings may be instituted by the Trustee on behalf of,
        or by, the Holder of such Security, subject to the terms and conditions set forth in this Indenture, directly against the Guarantors to enforce the Guarantee without first proceeding against the Company.

       

      Section 14.05.      No Discharge or Diminishment of Guarantee.  Subject to Section 14.10, the obligations of each of the Guarantors hereunder shall be absolute and unconditional and not be subject to
        any reduction, limitation, termination or impairment for any reason (other than the payment in full in cash of the Obligations), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be
        subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Securities, this Indenture or the Obligations or otherwise. Without limiting the generality of
        the foregoing, the obligations of each of the Guarantors hereunder shall not be discharged or impaired or otherwise affected by the failure of the Trustee or any Holder of the Securities to assert any claim or demand or to enforce any remedy under
        this Indenture or any Security, any other guarantee or any other agreement, by any waiver, modification or indulgence of any provision thereof, by any default, failure or delay, willful or otherwise, in the performance of the Obligations, by any
        release of any other Guarantor pursuant to Section 14.10 or by any other act or omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any Guarantor or that would otherwise operate as a discharge of
        any Guarantor as a matter of law or equity (other than

       

      
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      the payment in full in cash of all the Obligations); provided, however, that notwithstanding the foregoing, no such waiver,
        modification or indulgence shall, without the consent of the Guarantors, increase the principal amount of such Security, or increase the interest rate thereon, change any redemption provisions thereof (including any change to increase any premium
        payable upon redemption thereof) or change the Stated Maturity of any payment thereon, or increase the principal amount of any Original Issue Discount Security that would be due and payable upon a declaration of acceleration or the maturity thereof
        pursuant to Section 5.02 of this Indenture.

       

      Section 14.06.      Defenses of Company Waived.  To the extent permitted by applicable law, each of the Guarantors waives any defense based on or arising out of any defense of the Company or any
        other Guarantor or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Company, other than final payment in full in cash of the Obligations. Each of the Guarantors
        waives any defense arising out of any such election even though such election operates to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of each of the Guarantors against the Company or any security.

       

      Section 14.07.      Continued Effectiveness.  Subject to Section 14.10, each of the Guarantors further agrees that its Guarantee with respect to any Security hereunder shall remain in full force and
        effect and continue to be irrevocable notwithstanding any petition filed by or against the Company for liquidation or reorganization, the Company becoming insolvent or making an assignment for the benefit of creditors or a receiver or trustee being
        appointed for all or any significant part of the Company’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or
        interest on any Obligation is rescinded or must otherwise be restored or returned by the Trustee or any Holder of any Security, whether as a “voidable preference,” “fraudulent transfer” upon bankruptcy or reorganization of the Company or otherwise,
        all as though such payment or performance had not been made, until the date upon which the entire Obligation, if any, and interest on such Security has been, or has been deemed pursuant to the provisions of this Indenture to have been paid in full.
        In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned on any Security, such Security shall, to the fullest extent permitted by law, be reinstated and deemed paid only by such amount paid and not so
        rescinded, reduced, restored or returned.

       

      Section 14.08.      Subrogation.  In furtherance of the foregoing and not in limitation of any other right of each of the Guarantors by virtue hereof, upon the failure of the Company to pay any
        Obligation when and as the same shall become due, each of the Guarantors hereby promises to and will, upon receipt of written demand by the Trustee or any Holder of the Securities of any series, forthwith pay, or cause to be paid, to the Holders in
        cash the amount of such unpaid Obligations, and thereupon the Holders shall, assign (except to the extent that such assignment would render a Guarantor a “creditor” of the Company within the meaning of Section 547 of
        Title 11 of the United States Code as now in effect or hereafter amended or any comparable provision of any successor statute) the amount of the Obligations owed to it and paid by such Guarantor pursuant to this Guarantee to such Guarantor, such
        assignment to be pro rata to the extent the

       

      
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      Obligations in question were discharged by such Guarantor, or make such other disposition thereof as such Guarantor shall direct (all without recourse to the Holders, and
        without any representation or warranty by the Holders).  If (a) a Guarantor shall make payment to the Holders of all or any part of the Obligations and (b) all the Obligations and all other amounts payable under this Indenture shall be paid in
        full, the Trustee will, at such Guarantor’s request, execute and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to such Guarantor of an
        interest in the Obligations resulting from such payment by such Guarantor.

       

      Section 14.09.      Subordination.  Upon payment by any Guarantor of any sums to the Holders, as provided above, all rights of such Guarantor against the Company, arising as a result thereof by way
        of right of subrogation or otherwise, shall in all respects be subordinated and junior in right of payment to the prior payment in full in cash of all the Obligations to the Trustee; provided, however, that any right of subrogation that such Guarantor may have pursuant to this Indenture is subject to Section 14.08.

       

      Section 14.10.      Release of Guarantor and Termination of Guarantee.  A Guarantor shall, upon the occurrence of any of the following events, be automatically and unconditionally released and
        discharged from all obligations under this Indenture and its Guarantee without any action required on the part of the Trustee or any Holder; provided that such Guarantor
        would not, immediately after such release and discharge, be required to become a Guarantor pursuant to Section 14.02:

       

      (a)         at any time such Guarantor is not the Corporation and is sold or
        disposed of (whether by merger, consolidation or the sale of all or substantially all of its assets) to an entity that is not required to become a Guarantor, if such sale or disposition is otherwise in compliance with this Indenture;

       

      (b)          such Guarantor is designated a Non-Guarantor Entity in accordance
        with this Indenture; or

       

      (c)          the Company effects a Defeasance or Covenant Defeasance in
        accordance with Article 13 hereof.

       

      The Company may designate any Person as a “Non-Guarantor Entity” if (i) such Person is directly or indirectly wholly owned by one or more of the Credit
        Parties and (ii) such Person, together with all then-existing Non-Guarantor Entities designated pursuant to this clause (ii) on a combined and consolidated basis and taken as a whole, would not constitute a Significant Subsidiary (the foregoing,
        the “Non-Guarantor Limitation”). The Company may also, from time to time, remove the designation of any Person as a Non-Guarantor Entity and must remove the designation as to one or more Non-Guarantor
        Entities designated pursuant to clause (ii) of the immediately preceding sentence to the extent as of the end of any fiscal quarter such Non-Guarantor Entities exceed the Non- Guarantor Limitation. Any such designation or removal by the Company
        shall be evidenced to the Trustee by promptly filing with the Trustee a Company Resolution giving effect to such designation or removal, and in the case of a designation, a certificate

       

      
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      of the chief financial officer of the Company (or, in his or her absence, the principal executive officer, principal accounting officer or treasurer of the Company)
        certifying that such designation complied with the foregoing provisions. The Company shall promptly file with the Trustee a notice of any such release of a Guarantor in accordance with this Indenture.

       

      The Trustee shall deliver an appropriate instrument evidencing such release upon receipt of a request of the Company accompanied by an Officers’
        Certificate certifying as to the compliance with this Section.

       

      Section 14.11.      Limitation of Guarantors’ Liability.  Each Guarantor, and by its acceptance hereof each Holder, hereby confirms that it is the intention of all such parties that the Guarantee by
        such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Title 11 of the United States Code, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent
        applicable to any Guarantor. To effectuate the foregoing intention, the Holders and such Guarantor hereby irrevocably agree that the obligations of such Guarantor under this Indenture and its Guarantee shall be limited to the maximum aggregate
        amount which, after giving effect to all other contingent and fixed liabilities of such Guarantor, and after giving effect to any collections from or payments made by or on behalf of, any other Guarantor in respect of the obligations of such
        Guarantor under its Guarantee or pursuant to its contribution obligations under this Indenture, will result in the obligations of such Guarantor under its Guarantee not constituting such fraudulent transfer or conveyance.

       

      Each Guarantee is expressly limited so that in no event, including the acceleration of the Maturity of the Securities, shall the amount paid or agreed
        to be paid in respect of interest on the Securities (or fees or other amounts deemed payment for the use of funds) exceed the maximum permissible amount under applicable law, as in effect on the date hereof and as subsequently amended or modified
        to allow a greater amount of interest (or fees or other amounts deemed payment for the use of funds) to be paid under such Guarantee. If for any reason the amount in respect of interest (or fees or other amounts deemed payment for the use of funds)
        required by a Guarantee exceeds such maximum permissible amount, the obligation to pay interest under such Guarantee (or fees or other amounts deemed payment for the use of funds) shall be automatically reduced to such maximum permissible amount
        and any amounts collected by any Holder of any Security in excess of the permissible amount shall be automatically applied to reduce the outstanding principal on such Security.

       

      Section 14.12.     No Obligation to Take Action Against the Company.  Neither the Trustee, any Holder nor any other Person shall have any obligation to enforce or exhaust any rights or remedies or
        take any other steps under any security for the Obligations or against the Company or any other Person or any property of the Company or any other Person before the Trustee, such Holder or such other Person is entitled to demand payment and
        performance by any or all Guarantors of their liabilities and obligations under their Guarantee.

       

      
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      Section 14.13.      Execution and Delivery.  To evidence its Guarantee set forth in this Article 14, each Guarantor hereby agrees that this Indenture shall be executed on behalf of such Guarantor by
        an Officer of such Guarantor, and in the case of any New KKR Entity that becomes a Guarantor in accordance with this Indenture, such New KKR Entity’s Guarantee shall be evidenced by the execution and delivery on behalf of such New KKR Entity of a
        supplemental indenture hereto by an Officer of such New KKR Entity.

       

      Section 14.14.      Reorganization Agreement.  In connection with the consummation of the transactions contemplated by the Reorganization Agreement, the obligation of the Corporation to be a Guarantor may be terminated in the
        event that the new parent holding company for the Credit Group’s business (“New KKR Parent”) elects to become a Guarantor, in which case all references to the Corporation in this Indenture shall be deemed to be replaced by references to New KKR
        Parent.

       

      Each Guarantor hereby agrees that its Guarantee set forth in this Article 14 shall remain in full force and effect notwithstanding the absence of the
        endorsement of any notation of such Guarantee on any Securities.

       

      If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates any Security, the Guarantee shall
        be valid nevertheless.

       

      The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in
        this Indenture on behalf of the Guarantors.

       

      *          *          *

       

      This Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts
        shall together constitute but one and the same instrument. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Indenture or any document to be signed in connection with this Indenture shall be
        deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of
        a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means.

       

      [Signature page follows]

      

      

      
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      IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed and attested, all as of the day and year first above written.

       

      	 	
              KKR GROUP FINANCE CO. X LLC,

              as Issuer,

            
	 	 
	 	
              By:

            	
              /s/ Robert H. Lewin

            
	 	 	
              Name:

            	Robert H. Lewin
	 	 	
              Title:

                

            	Chief Financial Officer

      

      

      	 	
              KKR & CO. INC., as Guarantor,

            
	 	 
	 	
              By:

            	
              /s/ Robert H. Lewin

            
	 	 	
              Name:

            	Robert H. Lewin
	 	 	
              Title:

            	Chief Financial Officer

      

      

      	 	
              KKR GROUP PARTNERSHIP L.P.,

              as Guarantor,

            
	 	 
	 	
              By:

            	
              KKR Group Holdings Corp., as its general partner

            
	 	 	 
	 	
              By:

            	
              /s/ Robert H. Lewin

            
	 	 	
              Name:

                

            	Robert H. Lewin
	 	 	
              Title:

                

            	Chief Financial Officer

      
         

        

        [Signature Page to Indenture]

        

        

      

      
        
          

      

      	 	
              The Bank of New York Mellon Trust Company, N.A., as Trustee

            
	 	 
	 	
              By:

            	
              /s/ Ann Dolezal

            
	 	 	
              Name:  

                

            	Ann Dolezal
	 	 	
              Title:   

                

            	Vice President

       

      

      [Signature Page to Indenture]

        

      

      
        
          

      

      SCHEDULE I

       

      GUARANTORS

       

      KKR & Co. Inc., a Delaware corporation

      KKR Group Partnership L.P., a Cayman Islands exempted limited partnership (acting through its general partner KKR Group Holdings Corp.)

      

      

      

      

    

    
      Schedule I-1

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