Document:

Amended and Restated Five Year Credit Agreement

Table of Contents

 Exhibit 10.1 
  

  
 AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT 
  
 DATED AS OF MAY 13, 2005 
  
 AMONG

  
 NATIONWIDE MUTUAL INSURANCE COMPANY, 
 NATIONWIDE LIFE INSURANCE COMPANY, 
 NATIONWIDE FINANCIAL SERVICES, INC., 
  
 THE
LENDERS, 
  
 CITICORP USA, INC., 
 AS AGENT, 
  
 WACHOVIA BANK, NATIONAL ASSOCIATION, 
 AS SYNDICATION AGENT 
  
 AND 
  
 ABN AMRO BANK N.V., 
 BANK OF AMERICA, N.A., 
 THE BANK OF NEW YORK, 
 JPMORGAN CHASE BANK, N.A., 
 KEYBANK
NATIONAL ASSOCIATION 
 AND 
 HSBC BANK USA, NATIONAL ASSOCIATION 
 AS CO-DOCUMENTATION AGENTS 
  

  
 CITIGROUP GLOBAL MARKETS INC. 
 AND 
 WACHOVIA CAPITAL MARKETS, LLC 
 AS
JOINT LEAD ARRANGERS AND JOINT BOOK MANAGERS 

Table of Contents

 
TABLE OF CONTENTS 
  

					
	 Section

	  	Page

	 
ARTICLE I DEFINITIONS 
	  	1
		
	 
ARTICLE II THE CREDITS 
	  	16
	 	 	 
2.1 The Facility.
	  	16
	 	 	 
2.2 Ratable Advances.
	  	17
	 	 	 
2.3 Competitive Bid Advances.
	  	18
	 	 	 
2.4 Method of Borrowing
	  	22
	 	 	 
2.5 Commitment Fee; Reduction and Increase of Aggregate Commitment.
	  	22
	 	 	 
2.6 Minimum Amount of Each Ratable Advance; Minimum Amount of Fixed Rate Advances
	  	23
	 	 	 
2.7 Optional Principal Payments
	  	23
	 	 	 
2.8 Changes in Interest Rate, etc
	  	24
	 	 	 
2.9 Rates Applicable After Default
	  	24
	 	 	 
2.10 Method of Payment
	  	24
	 	 	 
2.11 Noteless Agreement; Evidence of Indebtedness
	  	25
	 	 	 
2.12 Telephonic Notices
	  	25
	 	 	 
2.13 Interest Payment Dates; Interest and Fee Basis
	  	26
	 	 	 
2.14 Notification of Advances, Interest Rates, Prepayments and Commitment Reductions
	  	26
	 	 	 
2.15 Lending Installations
	  	26
	 	 	 
2.16 Non-Receipt of Funds by the Agent
	  	26
		
	 
ARTICLE III YIELD PROTECTION; TAXES 
	  	27
	 	 	 
3.1 Yield Protection
	  	27
	 	 	 
3.2 Changes in Capital Adequacy Regulations
	  	27
	 	 	 
3.3 Availability of Types of Advances
	  	28
	 	 	 
3.4 Funding Indemnification
	  	28
	 	 	 
3.5 Taxes
	  	28
	 	 	 
3.6 Lender Statements; Survival of Indemnity
	  	30
		
	 
ARTICLE IV CONDITIONS PRECEDENT 
	  	31
	 	 	 
4.1 Effectiveness of Agreement
	  	31
	 	 	 
4.2 Each Advance
	  	32
		
	 
ARTICLE V REPRESENTATIONS AND WARRANTIES 
	  	33
	 	 	 
5.1 Existence and Standing.
	  	33
	 	 	 
5.2 Authorization and Validity
	  	33
	 	 	 
5.3 No Conflict; Government Consent
	  	34
	 	 	 
5.4 Financial Statements.
	  	34
	 	 	 
5.5 Material Adverse Change
	  	34
	 	 	 
5.6 Taxes
	  	35
	 	 	 
5.7 Litigation and Contingent Obligations
	  	35
	 	 	 
5.8 Subsidiaries
	  	35
	 	 	 
5.9 ERISA
	  	36
	 	 	 
5.10 Accuracy of Information
	  	36
	 	 	 
5.11 Regulation U
	  	36
	 	 	 
5.12 Material Agreements
	  	36

  

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 TABLE OF CONTENTS (continued) 
  

					
	 Section

	  	Page

	 	 	 
5.13 Compliance With Laws
	  	36
	 	 	 
5.14 Plan Assets; Prohibited Transactions
	  	36
	 	 	 
5.15 Environmental Matters
	  	37
	 	 	 
5.16 Investment Company Act
	  	37
	 	 	 
5.17 Public Utility Holding Company Act
	  	37
	 	 	 
5.18 Defaults
	  	37
	 	 	 
5.19 Insurance Licenses
	  	37
		
	 
ARTICLE VI COVENANTS 
	  	37
	 	 	 
6.1 Financial Reporting
	  	37
	 	 	 
6.2 Use of Proceeds
	  	39
	 	 	 
6.3 Notice of Default
	  	39
	 	 	 
6.4 Conduct of Business
	  	40
	 	 	 
6.5 Taxes
	  	40
	 	 	 
6.6 Insurance
	  	41
	 	 	 
6.7 Compliance with Laws
	  	41
	 	 	 
6.8 Maintenance of Properties
	  	41
	 	 	 
6.9 Inspection
	  	41
	 	 	 
6.10 Merger
	  	41
	 	 	 
6.11 Sale of Assets
	  	41
	 	 	 
6.12 Liens
	  	42
	 	 	 
6.13 Affiliates
	  	44
	 	 	 
6.14 ERISA Compliance
	  	44
	 	 	 
6.15 Financial Covenants.
	  	45
		
	 
ARTICLE VII DEFAULTS 
	  	46
	 	 	 
7.1 Representation or Warranty
	  	46
	 	 	 
7.2 Non-Payment of Obligations
	  	46
	 	 	 
7.3 Specific Defaults
	  	46
	 	 	 
7.4 Other Defaults
	  	46
	 	 	 
7.5 Cross-Default
	  	46
	 	 	 
7.6 Voluntary Proceedings
	  	46
	 	 	 
7.7 Involuntary Proceedings
	  	47
	 	 	 
7.8 Condemnation
	  	47
	 	 	 
7.9 Judgments
	  	47
	 	 	 
7.10 Change in Control
	  	47
	 	 	 
7.11 Rate Management Obligation
	  	47
	 	 	 
7.12 License
	  	47
	 	 	 
7.13 Violation of Insurance Laws
	  	48
	 	 	 
7.14 Directive or Mandate
	  	48
	 	 	 
7.15 Cross-Default With Respect to Other Borrowers
	  	48
		
	 
ARTICLE VIII ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES 
	  	48
	 	 	 
8.1 Acceleration
	  	48
	 	 	 
8.2 Amendments
	  	48
	 	 	 
8.3 Preservation of Rights
	  	49

  

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 TABLE OF CONTENTS (continued) 
  
  

					
	 Section

	  	Page

	 
ARTICLE IX GENERAL PROVISIONS 
	  	49
	 	 	 
9.1 Survival of Representations
	  	49
	 	 	 
9.2 Governmental Regulation
	  	49
	 	 	 
9.3 Headings
	  	50
	 	 	 
9.4 Entire Agreement
	  	50
	 	 	 
9.5 Several Obligations; Benefits of this Agreement
	  	50
	 	 	 
9.6 Expenses; Indemnification
	  	50
	 	 	 
9.7 Numbers of Documents
	  	51
	 	 	 
9.8 Accounting
	  	51
	 	 	 
9.9 Severability of Provisions
	  	51
	 	 	 
9.10 Nonliability of Lenders
	  	51
	 	 	 
9.11 Confidentiality
	  	51
	 	 	 
9.12 Nonreliance
	  	52
	 	 	 
9.13 Disclosure
	  	52
	 	 	 
9.14 USA PATRIOT ACT NOTIFICATION
	  	52
		
	 
ARTICLE X THE AGENT 
	  	52
	 	 	 
10.1 Appointment; Nature of Relationship
	  	52
	 	 	 
10.2 Powers
	  	53
	 	 	 
10.3 General Immunity
	  	53
	 	 	 
10.4 No Responsibility for Loans, Recitals, etc
	  	53
	 	 	 
10.5 Action on Instructions of Lenders
	  	53
	 	 	 
10.6 Employment of Agents and Counsel
	  	54
	 	 	 
10.7 Reliance on Documents; Counsel
	  	54
	 	 	 
10.8 Agent’s Reimbursement and Indemnification
	  	54
	 	 	 
10.9 Notice of Default
	  	55
	 	 	 
10.10 Rights as a Lender
	  	55
	 	 	 
10.11 Lender Credit Decision
	  	55
	 	 	 
10.12 Successor Agent
	  	55
	 	 	 
10.13 Agent and Arranger Fees
	  	56
	 	 	 
10.14 Delegation to Affiliates
	  	56
	 	 	 
10.15 Co-Agents, Documentation Agent, Syndication Agent, Managing Agent, etc
	  	56
		
	 
ARTICLE XI SETOFF; RATABLE PAYMENTS 
	  	56
	 	 	 
11.1 Setoff
	  	56
	 	 	 
11.2 Ratable Payments
	  	56
		
	 
ARTICLE XII BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS 
	  	57
	 	 	 
12.1 Successors and Assigns
	  	57
	 	 	 
12.2 Participations.
	  	57
	 	 	 
12.3 Assignments.
	  	58
	 	 	 
12.4 Dissemination of Information
	  	59
	 	 	 
12.5 Tax Treatment
	  	59
	 	 	 
12.6 Designation
	  	59
		
	 
ARTICLE XIII NOTICES 
	  	60
	 	 	 
13.1 Notices 
	  	60

  

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 TABLE OF CONTENTS (continued) 
  

					
	 Section

	  	Page

	 	 	 
13.2 Electronic Communications.
	  	61
	 	 	 
13.3 Change of Address
	  	63
		
	 
ARTICLE XIV COUNTERPARTS 
	  	63
		
	 
ARTICLE XV CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 
	  	63
	 	 	 
15.1 CHOICE OF LAW
	  	63
	 	 	 
15.2 CONSENT TO JURISDICTION
	  	63
	 	 	 
15.3 WAIVER OF JURY TRIAL
	  	63

  

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 TABLE OF CONTENTS 
  

			
	SCHEDULES
		
	 
Pricing Schedule
	    	 
	 Schedule 1
	    	 
Commitments

	 Schedule 5.08
	    	 
Subsidiaries

	 Schedule 6.12
	    	 
Liens

	
	EXHIBITS
		
	 Exhibit A-1
	    	 Ratable Note

	 Exhibit A-2
	    	 Competitive Bid Note

	 Exhibit B
	    	 Compliance Certificate

	 Exhibit C
	    	 Assignment and Acceptance

	 Exhibit D
	    	 Competitive Bid Quote

	 Exhibit E
	    	 Competitive Bid Quote Request

	 Exhibit F
	    	 Invitation for Competitive Bid Quotes

  

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 AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT 
  
 This Amended and Restated Five Year Credit Agreement, dated
as of May 13, 2005, is among Nationwide Mutual Insurance Company, Nationwide Life Insurance Company, Nationwide Financial Services, Inc., the Lenders and Citicorp USA, Inc., as Agent. The parties hereto agree as follows: 
  
 RECITALS: 
  
 WHEREAS, the Borrowers and the Agent (as successor Agent to JPMorgan Chase Bank, N.A., formerly known as
Bank One, NA) are parties to a Five Year Credit Agreement dated as of May 17, 2004 (as heretofore amended, modified or restated, the “Existing Credit Agreement”); 
  
 WHEREAS, the Borrowers desire, among other things, to increase the principal amount available under the
Existing Credit Agreement, amend the pricing terms and make certain other changes to the Existing Credit Agreement; 
  
 WHEREAS, to accomplish the foregoing, the Borrowers, the Agent and the Lenders desire to amend and restate the Existing Credit Agreement
as hereinafter set forth; 
  
 NOW, THEREFORE, in
consideration of the mutual covenants and undertakings herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders and the Agent hereby agree that the
Existing Credit Agreement shall be amended and restated to read as follows: 
  
 
ARTICLE I 
  
 DEFINITIONS 
  
 As used in
this Agreement: 
  
 “ABR Advance” means
an Advance which, except as otherwise provided in Section 2.9, bears interest at the Alternate Base Rate. 
  
 “ABR Loan” means a Loan which, except as otherwise provided in Section 2.9, bears interest at the Alternate Base Rate.

  
 “Absolute Rate” means, with
respect to an Absolute Rate Loan made by a given Lender for the relevant Absolute Rate Interest Period, the rate of interest per annum (rounded to the nearest 1/100 of 1%) offered by such Lender and accepted by the Requesting Borrower pursuant to
Section 2.3. 
  
 “Absolute Rate
Advance” means a borrowing hereunder consisting of the aggregate amount of the several Absolute Rate Loans made by some or all of the Lenders to the Requesting Borrower at the same time and for the same Absolute Rate Interest Period.

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 “Absolute Rate Auction” means a solicitation of Competitive Bid Quotes setting
forth Absolute Rates pursuant to Section 2.3. 
  
 “Absolute Rate Interest Period” means, with respect to an Absolute Rate Advance, a period of not less than 1 and not more than 270 days commencing on a Business Day selected by the Requesting Borrower pursuant to this Agreement.
If such Absolute Rate Interest Period would end on a day which is not a Business Day, such Absolute Rate Interest Period shall end on the next succeeding Business Day. 
  
 “Absolute Rate Loan” means a Loan which bears interest at an Absolute Rate. 
  
 “Advance” means a Ratable Advance or a Competitive
Bid Advance. 
  
 “Affiliate” of any
Person means any other Person directly or indirectly controlling, controlled by or under common control with such Person. A Person shall be deemed to control another Person if the controlling Person owns 10% or more of any class of voting securities
(or other ownership interests) of the controlled Person or possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of the controlled Person, whether through ownership of stock, by contract or
otherwise. 
  
 “Agent” means CUSA in its
capacity as contractual representative of the Lenders pursuant to Article X, and not in its individual capacity as a Lender, and any successor Agent appointed pursuant to Article X. 
  
 “Aggregate Commitment” means the aggregate of the
Commitments of all the Lenders, as increased or reduced from time to time pursuant to the terms hereof. 
  
 “Agreement” means this credit agreement, as it may be amended or modified and in effect from time to time. 
  
 “Agreement Accounting Principles” means generally
accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4; provided, however, that for the purposes of all
computations required to be made with respect to compliance by any Borrower with Section 6.15, such term shall mean generally accepted accounting principles (excluding where SAP is applicable) as in effect on the date hereof, applied in a
manner consistent with those used in preparing the financial statements referred to in Section 5.4. 
  
 “Alternate Base Rate” means, for any day, a rate of interest per annum equal to the higher of (a) the Prime Rate for such day or
(b) the sum of the Federal Funds Effective Rate for such day plus 1/2% per annum. 
  
 “AMH” means Asset Management Holdings plc, which indirectly owns 100% of the capital stock of Gartmore Investment Management plc. 
  

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 “AMH Acquisition” means the acquisition by Nationwide Mutual or one of its
Subsidiaries of all or substantially all of the assets of AMH. 
  
 “Annual Statement” means the annual statutory financial statement of any Insurance Company required to be filed with the insurance commissioner (or similar authority) of its jurisdiction of incorporation,
which statement shall be in the form required by such Insurance Company’s jurisdiction of incorporation or, if no specific form is so required, in the form of financial statements permitted by such insurance commissioner (or such similar
authority) to be used for filing annual statutory financial statements and shall contain the type of information permitted by such insurance commissioner (or similar authority) to be disclosed therein, together with all exhibits or schedules filed
therewith. 
  
 “Applicable Facility Fee
Rate” means, at any time, the percentage rate per annum at which Facility Fees are accruing on the Aggregate Commitment (without regard to usage) at such time as set forth in the Pricing Schedule. 
  
 “Applicable Margin” means, with respect to Ratable
Advances at any time, the percentage rate per annum which is applicable at such time with respect to Advances as set forth in the Pricing Schedule. 
  
 “Applicable Utilization Fee Rate” means, at any time, the percentage rate per annum at which Utilization Fees are accruing as
set forth in the Pricing Schedule. 
  
 “Arrangers” means, collectively, CGMI, WCM and their respective successors, in their capacity as Joint Lead Arrangers and Joint Book Managers. 
  
 “Article” means an article of this Agreement unless another document is specifically referenced.

  
 “Authorized Officer” means any of
the Treasurer or any Assistant Treasurer of a Borrower, acting singly. 
  
 “Borrowers” means, collectively, Nationwide Mutual, Nationwide Life and NFS, and their respective successors and assigns. 
  
 “Borrowing Date” means a date on which an Advance is made hereunder. 
  
 “Borrowing Notice” means a Competitive Bid
Borrowing Notice or a Ratable Borrowing Notice, as the context may require. 
  
 “Business Day” means (a) with respect to any borrowing, payment or rate selection of Eurodollar Advances, a day (other than a Saturday or Sunday) on which banks generally are open in New York City for the
conduct of substantially all of their commercial lending activities, interbank wire transfers can be made on the Fedwire system and dealings in United States dollars are carried on in the London interbank market and (b) for all other purposes, a day
(other than a Saturday or Sunday) on which banks generally are open in New York City for the conduct of 
  

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 substantially all of their commercial lending activities and interbank wire transfers can be made on the
Fedwire system. 
  
 “Capitalized Lease”
of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles. 
  
 “Capitalized Lease Obligations” of a Person means the amount of the obligations of such Person
under Capitalized Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles. 
  
 “Cash Equivalent Investments” means (a) short-term obligations of, or fully guaranteed by, the United States of America, (b)
commercial paper rated A-1 or better by S&P or P-1 or better by Moody’s, (c) demand deposit accounts maintained in the ordinary course of business, and (d) certificates of deposit issued by and time deposits with commercial banks (whether
domestic or foreign) having capital and surplus in excess of $100,000,000; provided in each case that the same provides for payment of both principal and interest (and not principal alone or interest alone) and is not subject to any
contingency regarding the payment of principal or interest. 
  
 “CGMI” means Citigroup Global Markets Inc. 
  
 “Change in Control” means (a) in the case of Nationwide Mutual, it shall cease to be a mutual insurance company, (b) in the case of Nationwide Life, it shall cease to be a Wholly-Owned
Subsidiary of NFS, and (c) in the case of NFS, it shall cease to be a Subsidiary of Nationwide Mutual. 
  
 “Closing Date” means May 13, 2005. 
  
 “Code” means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time. 
  
 “Combined Annual Statement” means the Annual
Statement required to be filed by Nationwide Mutual and its affiliated property and casualty insurers. 
  
 “Commitment” means, (a) with respect to each Lender, the amount specified for such Lender on Schedule 1 and (b) with
respect to each Person which becomes a Lender after the Closing Date, the amount specified for such Person on the signature page of the Assignment and Acceptance or in the Assumption Agreement, as the case may be, to which it is a party, in each
case, as such amount may be permanently terminated or reduced from time to time pursuant to Section 2.5(c) or Section 8.1 or reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section
12.3. 
  
 “Competitive Bid Advance”
means a borrowing hereunder made by some or all of the Lenders on the same Borrowing Date and consisting of the aggregate amount of the several Competitive Bid Loans of the same Type and for the same Interest Period. 
  

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 “Competitive Bid Borrowing Notice” is defined in Section 2.3.6.

  
 “Competitive Bid Loan” means a
Eurodollar Bid Rate Loan or an Absolute Rate Loan, or both, as the case may be. 
  
 “Competitive Bid Margin” means the margin above or below the applicable Eurodollar Base Rate (adjusted for reserve costs, if applicable) offered for a Eurodollar Bid Rate Loan,
expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurodollar Base Rate. 
  
 “Competitive Bid Note” means any promissory note in the form of Exhibit A-2 hereto issued at the request of a Lender
pursuant to Section 2.11 to evidence its Competitive Bid Loans. 
  
 “Competitive Bid Quote” means a Competitive Bid Quote substantially in the form of Exhibit D hereto completed and delivered by a Lender to the Agent in accordance with Section 2.3.4.

  
 “Competitive Bid Quote Request”
means a Competitive Bid Quote Request substantially in the form of Exhibit E hereto completed and delivered by the Borrower to the Agent in accordance with Section 2.3.2. 
  
 “Consolidated Person” means, for any taxable year of reference, each Person which is a member of
the affiliated group of such Borrower if consolidated returns are or shall be filed for such affiliated group for federal income tax purposes or any combined or unitary group of which such Borrower is a member for state income tax purposes.

  
 “Consolidated Tangible Net Worth”
means at any date the consolidated shareholders’ equity of NFS and its consolidated Subsidiaries plus any unrealized losses or less (a) any unrealized gains (in each case to the extent reflected in the determination of such
consolidated shareholders’ equity) related, directly or indirectly, to securities available-for-sale, as determined in accordance with Statement of Financial Accounting Standards No. 115 (or any successor statements or amendments thereto) (in
each case as affected by any subsequent relevant pronouncements of the Financial Accounting Standards Board or, if and to the extent applicable, the Securities and Exchange Commission) and (b) Intangible Assets, all determined as of such date in
accordance with Agreement Accounting Principles based upon its most recent financial statements prepared in accordance with Agreement Accounting Principles; provided, that in calculating Consolidated Tangible Net Worth on any date the impact
thereon of FIN 46 shall be excluded. 
  
 “Contingent Obligation” of a Person means any agreement, undertaking or arrangement by which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes or
is contingently liable upon, the obligation or liability of any other Person, or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures any creditor of such other Person against
loss, including, without limitation, any comfort letter, operating agreement, take-or-pay 
  

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 contract or the obligations of any such Person as general partner of a partnership with respect to the
liabilities of the partnership, but excluding (a) Contingent Obligations in respect of insurance policies issued in the ordinary course of business (including, without limitation, Contingent Obligations in respect of reinsurance agreements entered
into in connection with the sale of Wausau General Insurance Company and its affiliates), (b) Contingent Obligations incurred by any Borrower in connection with the issuance of a License to a Subsidiary and (c) Contingent Obligations in respect of
undrawn letters of credit which are issued in the ordinary course of business to support reinsurance obligations. 
  
 “Conversion/Continuation Notice” is defined in Section 2.2.4. 
  
 “Controlled Group” means all members of a
controlled group of corporations or other business entities and all trades or businesses (whether or not incorporated) under common control which, together with the Borrower or any of its Subsidiaries, are treated as a single employer under Section
414 of the Code. 
  
 “CUSA” means
Citicorp USA, Inc., in its individual capacity, and its successors. 
  
 “Default” means an event described in Article VII. 
  
 “Environmental Laws” means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, plans,
injunctions, permits, concessions, grants, franchises, licenses, agreements and other governmental restrictions relating to (a) the protection of the environment, (b) the effect of the environment on human health, (c) emissions, discharges or
releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground water or land, or (d) the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants,
hazardous substances or wastes or the clean-up or other remediation thereof. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder. 
  
 “Eurodollar Advance” means a Eurodollar Ratable Advance, a Eurodollar Bid Rate Advance, or both,
as the context may require. 
  
 “Eurodollar
Auction” means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Margins pursuant to Section 2.3. 
  
 “Eurodollar Base Rate” means, with respect to a Eurodollar Advance to a Borrower for the relevant Eurodollar Interest Period,
the applicable British Bankers’ Association Interest Settlement Rate for deposits in U.S. dollars appearing on Reuters Screen FRBD as of 11:00 a.m. (London time) two Business Days prior to the first day of such Eurodollar Interest Period, and
having a maturity equal to such Eurodollar Interest Period, provided that, (a) if Reuters Screen FRBD is not available to the Agent for any reason, the applicable Eurodollar Base Rate for the relevant Eurodollar Interest Period shall instead
be the applicable British Bankers’ Association Interest Settlement Rate for deposits in U.S. dollars as reported by any other generally 
  

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 recognized financial information service as of 11:00 a.m. (London time) two Business Days prior to the
first day of such Eurodollar Interest Period, and having a maturity equal to such Eurodollar Interest Period, and (b) if no such British Bankers’ Association Interest Settlement Rate is available to the Agent, the applicable Eurodollar Base
Rate for the relevant Eurodollar Interest Period shall instead be the rate determined by the Agent to be the rate at which CUSA or one of its Affiliate banks offers to place deposits in U.S. dollars with first-class banks in the London interbank
market at approximately 11:00 a.m. (London time) two Business Days prior to the first day of such Eurodollar Interest Period, in the approximate amount of CUSA’s relevant Eurodollar Ratable Loan, or, in the case of a Eurodollar Bid Rate
Advance, the amount of the Eurodollar Bid Rate Advance requested by such Borrower, and having a maturity equal to such Eurodollar Interest Period. 
  
 “Eurodollar Bid Rate” means, with respect to a Eurodollar Bid Rate Loan made by a given Lender for the relevant Eurodollar
Interest Period, the sum of (a) the quotient of (i) the Eurodollar Base Rate applicable to such Interest Period, divided by (ii) one minus the Reserve Requirement (expressed as a decimal) applicable to such Interest Period, plus (b) the Competitive
Bid Margin offered by such Lender and accepted by the Requesting Borrower. 
  
 “Eurodollar Bid Rate Advance” means a Competitive Bid Advance which bears interest at a Eurodollar Bid Rate. 
  
 “Eurodollar Bid Rate Loan” means a Loan which bears interest at a Eurodollar Bid Rate. 
  
 “Eurodollar Interest Period” means, with respect to
a Eurodollar Advance to a Borrower, a period of one, two, three or six months commencing on a Business Day selected by such Borrower pursuant to this Agreement. Such Eurodollar Interest Period shall end on the day which corresponds numerically to
such date one, two, three or six months thereafter; provided, however, that if there is no such numerically corresponding day in such next, second, third or sixth succeeding month, such Eurodollar Interest Period shall end on the last
Business Day of such next, second, third or sixth succeeding month. If a Eurodollar Interest Period would otherwise end on a day which is not a Business Day, such Eurodollar Interest Period shall end on the next succeeding Business Day;
provided, however, that if said next succeeding Business Day falls in a new calendar month, such Eurodollar Interest Period shall end on the immediately preceding Business Day. 
  
 “Eurodollar Loan” means a Eurodollar Ratable Loan
or a Eurodollar Bid Rate Loan, or both, as the context may require. 
  
 “Eurodollar Ratable Advance” means a Ratable Advance to a Borrower which bears interest at a Eurodollar Rate requested by such Borrower pursuant to Section 2.2. 
  
 “Eurodollar Ratable Loan” means a Ratable Loan to a
Borrower which bears interest at a Eurodollar Rate requested by such Borrower pursuant to Section 2.2. 
  
 “Eurodollar Rate” means, with respect to a Eurodollar Ratable Advance for the relevant Eurodollar Interest Period, the sum of
(a) the quotient of (i) the Eurodollar Base Rate applicable 
  

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 to such Eurodollar Interest Period, divided by (ii) one minus the Reserve Requirement (expressed as a
decimal) applicable to such Eurodollar Interest Period, plus (b) the Applicable Margin. 
  
 “Excluded Taxes” means, in the case of each Lender or applicable Lending Installation and the Agent, taxes imposed on its overall net income, and franchise taxes imposed on it, by (a)
the jurisdiction under the laws of which such Lender or the Agent is incorporated or organized or (b) any jurisdiction in which the Agent or such Lender maintains a lending office. 
  
 “Exhibit” refers to an exhibit to this Agreement, unless another document is specifically
referenced. 
  
 “Facility Fee” is
defined in Section 2.5(a). 
  
 “Facility Termination Date” means May 13, 2010, or any earlier date on which the Aggregate Commitment is reduced to zero or otherwise terminated pursuant to the terms hereof. 
  
 “FAS 35” means Financial Accounting Statement No.
35, “Accounting and Reporting by Defined Benefit Pension Plans” issued by the Financial Accounting Standards Board in March, 1980. 
  
 “Federal Funds Effective Rate” means, for any day, an interest rate per annum equal to the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published for such day (or, if such day is not a Business Day, for the immediately preceding Business Day) by the
Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately 11:00 a.m. (New York time) on such day on such transactions received by the Agent from three
Federal funds brokers of recognized standing selected by the Agent in its sole discretion. 
  
 “FIN 46” means Interpretation No. 46, “Consolidation of Variable Interest Entities,” issued by the Financing Accounting Standards Board in January 2003. 
  
 “Fixed Rate” means the Eurodollar Rate, the
Eurodollar Bid Rate or the Absolute Rate. 
  
 “Fixed Rate Advance” means an Advance which bears interest at a Fixed Rate. 
  
 “Fixed Rate Loan” means a Loan which bears interest at a Fixed Rate. 
  
 “Governmental Authority” means any government (foreign or domestic) or any state or other political subdivision thereof or any
governmental body, agency, authority, department or commission (including without limitation any board of insurance, insurance department or insurance commissioner and any taxing authority or political subdivision) or any instrumentality or officer
thereof (including without limitation any court or tribunal) exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any corporation, partnership or other entity directly or indirectly
owned by any of the foregoing. 
  

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 “Indebtedness” of a Person means such Person’s (a) obligations for
borrowed money, (b) obligations representing the deferred purchase price of Property or services (other than accounts payable arising in the ordinary course of such Person’s business payable on terms customary in the trade), (c) obligations,
whether or not assumed, secured by Liens or payable out of the proceeds or production from Property now or hereafter owned or acquired by such Person, (d) obligations which are evidenced by notes, acceptances, or other instruments, including notes
issued to an Affiliate in connection with the issuance by such Affiliate of trust preferred securities, (e) obligations of such Person to purchase securities or other Property arising out of or in connection with the sale of the same or
substantially similar securities or Property, (f) Capitalized Lease Obligations, (g) Contingent Obligations, (h) obligations in respect of Surplus Debentures, (i) Net Mark-to-Market Exposure under Rate Management Transactions, (j) non-contingent
obligations of such Person to reimburse any Lender or other Person in respect of amounts paid under a letter of credit and (k) any other obligation for borrowed money or other financial accommodation which in accordance with Agreement Accounting
Principles or SAP, as applicable, would be shown as a liability on the consolidated balance sheet of such Person; provided, however, that for the purpose of determining compliance with Sections 6.15.4 and, with respect to
clauses (ii) and (iv) below, Section 6.15.5 on any date, “Indebtedness” shall exclude (i) Surplus Debentures which mature more than ten (10) years after such date of determination, (ii) obligations of such Person arising in respect
of securities lending activities and securities repurchase or reverse-repurchase activities undertaken in the ordinary course of business in compliance with all applicable laws, (iii) obligations of Nationwide Mutual under one or more prepaid equity
forward contracts, and (iv) indebtedness of such Person incurred in connection with the sale or issuance of Structured Finance Securities, provided that no Borrower or Subsidiary has any recourse obligations with respect thereto; 
  
 “Insurance Company” means Nationwide Mutual,
Nationwide Life or any Insurance Subsidiary. 
  
 “Insurance Subsidiary” means any Subsidiary which is engaged in the business of underwriting policies of insurance. 
  
 “Intangible Assets” means the amount (to the extent reflected in determining such consolidated shareholders’ equity) of all
unamortized debt discount and expense, unamortized deferred charges, goodwill, patents, trademarks, service marks, trade names, anticipated future benefit of tax loss carry-forwards, copyrights, organization or developmental expenses and other
intangible assets; provided, that the deferred policy acquisition costs shall not be considered Intangible Assets for the purposes of this definition. 
  
 “Interest Period” means a Eurodollar Interest Period or an Absolute Rate Interest Period. 
  
 “Invitation for Competitive Bid Quotes” means an
Invitation for Competitive Bid Quotes substantially in the form of Exhibit F hereto, completed and delivered by the Agent to the Lenders in accordance with Section 2.3.3. 
  
 “Lenders” means the lending institutions listed on the signature pages of this Agreement and their
respective successors and assigns. 
  

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 “Lending Installation” means, with respect to a Lender or the Agent, the
office, branch, subsidiary or Affiliate of such Lender or the Agent listed on the signature pages hereof or on a Schedule or otherwise selected by such Lender or the Agent pursuant to Section 2.15. 
  
 “License” means any license, certificate of
authority, permit or other authorization which is required to be obtained from any Governmental Authority in connection with the operation, ownership or transaction of insurance business. 
  
 “Lien” means any lien (statutory or other), mortgage, pledge, hypothecation, assignment, deposit
arrangement, encumbrance or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or lessor under any conditional sale, Capitalized
Lease or other title retention agreement). 
  
 “Loan” means, with respect to a Lender, such Lender’s loan made pursuant to Article II (or, in the case of a loan made pursuant to Section 2.2, any conversion or continuation thereof). 
  
 “Loan Documents” means this Agreement and any Notes
issued pursuant to Section 2.11 and the other documents and agreements contemplated hereby and executed by any Borrower in favor of the Agent or any Lender. 
  
 “Material Adverse Effect” means, with respect to any Borrower, a material adverse effect on (a)
the business, Property, condition (financial or otherwise), results of operations, or prospects of such Borrower and its Subsidiaries taken as a whole, (b) the ability of such Borrower to perform its obligations under the Loan Documents, or (c) the
validity or enforceability of any of the Loan Documents or the rights or remedies of the Agent or the Lenders thereunder. 
  
 “Material Affiliate” means: 
  
 (a) in respect of Nationwide Mutual, (i) any other Person which is a party to the Nationwide Insurance Intercompany Pooling Agreement,
effective as of January 1, 1999, as amended or supplemented from time to time, and (ii) any of its Material Subsidiaries; and 
  
 (b) in respect of each of Nationwide Life and NFS, any of its Material Subsidiaries. 
  
 “Material Indebtedness” is defined in Section
7.5. 
  
 “Material Insurance
Subsidiary” means an Insurance Subsidiary which is a Material Subsidiary. 
  
 “Material Subsidiary” means: 
  
 (a) in respect of Nationwide Mutual, any Subsidiary having, as of the date of the Combined Annual Statement most recently delivered to the Lenders pursuant to Section 5.4(a) or 
  

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 Section 6.1(d), consolidated assets with a value of at least two percent (2%) of the total
combined assets set out in such statement; provided, that, for the purposes of this Agreement, neither Nationwide Life nor NFS nor any of their consolidated Subsidiaries shall be considered to be a Material Subsidiary of Nationwide Mutual;
and 
  
 (b) in respect of each of Nationwide Life
and NFS, any Subsidiary having, as of the date of the balance sheet most recently delivered to the Lenders pursuant to Section 5.4 or Section 6.1, consolidated assets with a value of at least two percent (2%) of the total consolidated
assets set out in such statement. 
  
 “Moody’s” means Moody’s Investors Service, Inc. 
  
 “Multiemployer Plan” means a Plan maintained pursuant to a collective bargaining agreement or any other arrangement to which the Borrower or any member of the Controlled Group is a party to which more than
one employer is obligated to make contributions. 
  
 “NAIC” means the National Association of Insurance Commissioners or any successor thereto, or in lieu thereof, any other association, agency or other organization performing advisory, coordination or other like functions among
insurance departments, insurance commissioners and similar Governmental Authorities of the various states of the United States toward the promotion of uniformity in the practices of such Governmental Authorities. 
  
 “Nationwide Life” means Nationwide Life Insurance
Company, an Ohio insurance company. 
  
 “Nationwide Mutual” means Nationwide Mutual Insurance Company, an Ohio mutual insurance company. 
  
 “Net Mark-to-Market Exposure” of a Person means, as of any date of determination, the excess (if any) of all unrealized losses
over all unrealized profits of such Person arising from Rate Management Transactions. “Unrealized losses” means the fair market value of the cost to such Person of replacing such Rate Management Transaction as of the date of determination
(assuming the Rate Management Transaction were to be terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Rate Management Transaction as of the date of determination
(assuming such Rate Management Transaction were to be terminated as of that date). 
  
 “NFS” means Nationwide Financial Services, Inc., a Delaware corporation. 
  
 “Non-U.S. Lender” is defined in Section 3.5(d). 
  
 “Notes” means, collectively, all of the Competitive Bid Notes and all of the Ratable Notes which
may be issued hereunder, and “Note” means any one of the Notes. 
  
 “Obligations” means all unpaid principal of and accrued and unpaid interest on the Loans, all accrued and unpaid fees and all expenses, reimbursements, indemnities and other 
  

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 obligations of the Borrowers or any Borrower to the Lenders or to any Lender, the Agent or any
indemnified party arising under the Loan Documents. 
  
 “Other Taxes” is defined in Section 3.5(b). 
  
 “Participants” is defined in Section 12.2.1. 
  
 “Payment Date” means the last day of each March, June, September and December. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto. 
  
 “Person” means any natural person, corporation,
firm, joint venture, partnership, limited liability company, association, enterprise, trust or other entity or organization, or any government or political subdivision or any agency, department or instrumentality thereof. 
  
 “Plan” means an employee pension benefit plan which
is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code as to which a Borrower or any member of the Controlled Group may have any liability. 
  
 “Pricing Schedule” means the Schedule attached
hereto identified as such. 
  
 “Prime
Rate” means a rate per annum equal to the prime rate of interest announced from time to time by Citibank, N.A. or its parent (which is not necessarily the lowest rate charged to any customer), changing when and as said prime rate changes.

  
 “Property” of a Person means any and
all property, whether real, personal, tangible, intangible, or mixed, of such Person, or other assets owned, leased or operated by such Person. 
  
 “Purchasers” is defined in Section 12.3.1. 
  
 “Quarterly Statement” means the quarterly statutory financial statement of any Insurance Company
required to be filed with the insurance commissioner (or similar authority) of its jurisdiction of incorporation or, if no specific form is so required, in the form of financial statements permitted by such insurance commissioner (or such similar
authority) to be used for filing quarterly statutory financial statements and shall contain the type of financial information permitted by such insurance commissioner (or such similar authority) to be disclosed therein, together with all exhibits or
schedules filed therewith. 
  
 “Ratable
Advance” means a borrowing hereunder (a) made by the Lenders to a Borrower on the same Borrowing Date, or (b) converted or continued by the Lenders on the same date of conversion or continuation, consisting, in either case, of the aggregate
amount of the several Ratable Loans of the same Type and, in the case of Eurodollar Ratable Loans, for the same Interest Period. 
  
 “Ratable Borrowing Notice” is defined in Section 2.2.3. 
  

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 “Ratable Loan” means a Loan made by a Lender pursuant to Section 2.2
hereof. 
  
 “Ratable Note” means any
promissory note in the form of Exhibit A-1 hereto issued at the request of a Lender pursuant to Section 2.11 to evidence its Ratable Loans. 
  
 “Rate Management Obligations” of a Person means any and all obligations of such Person, whether absolute or contingent and
howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (a) any and all Rate Management Transactions, and (b) any and all cancellations, buy
backs, reversals, terminations or assignments of any Rate Management Transactions. 
  
 “Rate Management Transaction” means any transaction (including an agreement with respect thereto) now existing or hereafter entered into by any Borrower which is a credit default swap,
rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction,
collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions) or any combination thereof,
whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures. 
  
 “Regulation D” means Regulation D of the Board of Governors of the Federal Reserve System as from time to time in effect and any
successor thereto or other regulation or official interpretation of said Board of Governors relating to reserve requirements applicable to member banks of the Federal Reserve System. 
  
 “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System as from
time to time in effect and any successor or other regulation or official interpretation of said Board of Governors relating to the extension of credit by banks for the purpose of purchasing or carrying margin stocks applicable to member banks of the
Federal Reserve System. 
  
 “Reportable
Event” means a reportable event as defined in Section 4043 of ERISA and the regulations issued under such section, with respect to a Plan, excluding, however, such events as to which the PBGC has by regulation waived the requirement of Section
4043(a) of ERISA that it be notified within 30 days of the occurrence of such event, provided, however, that a failure to meet the minimum funding standard of Section 412 of the Code and of Section 302 of ERISA shall be a Reportable
Event regardless of the issuance of any such waiver of the notice requirement in accordance with either Section 4043(a) of ERISA or Section 412(d) of the Code. 
  

“Reports” is defined in Section 9.6. 
  
 “Requesting Borrower” is defined in Section 2.3.2. 
  

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 “Required Lenders” means Lenders in the aggregate holding more than 50% of the
aggregate unpaid principal amount of the outstanding Advances (excluding Competitive Bid Advances) or, if none, the Aggregate Commitment. 
  
 “Reserve Requirement” means, with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic,
supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities. 
  
 “S&P” means Standard and Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc. 
  
 “SAP” means, with respect to any Insurance Company,
the statutory accounting practices prescribed or permitted by the insurance commissioner (or other similar authority) in the jurisdiction of such Person for the preparation of annual statements and other financial reports by insurance companies of
the same type as such Person in effect from time to time, applied in a manner consistent with those used in preparing the financial statements referred to in Section 5.4(a) and (b); provided, that, except as otherwise provided
in the definition of Agreement Accounting Principles, with respect to the financial covenants contained in Section 6.15 hereof, and the related definitions, “SAP” means such statutory accounting practices in effect on the date
hereof, applied in a manner consistent with those used in preparing the financial statements referred to in Section 5.4(a) and (b). 
  
 “Schedule” refers to a specific schedule to this Agreement, unless another document is specifically referenced. 
  
 “Section” means a numbered section of this
Agreement, unless another document is specifically referenced. 
  
 “Single Employer Plan” means a Plan maintained by a Borrower or any member of the Controlled Group for employees of such Borrower or any member of the Controlled Group. 
  
 “Statutory Surplus” means, with respect to (a)
Nationwide Mutual at any time, the surplus as regards policyholders of Nationwide Mutual at such time, as determined in accordance with SAP (“Liabilities, Surplus and Other Funds” statement, page 3, line 35 of the Annual Statement) based
upon its most recently filed Quarterly Statement and (b) Nationwide Life at any time, the statutory capital and surplus of Nationwide Life at such time, as determined in accordance with SAP (“Liabilities, Surplus and Other Funds”
statement, page 3, line 38 of the Annual Statement) based upon its most recently filed Quarterly Statement. 
  
 “Structured Finance Securities” means (a) notes or other instruments secured by collateral consisting primarily of debt
securities and/or other types of debt obligations, including loans and credit default swaps or (b) securities whose benefits are derived from a discreet pool of assets, either fixed or revolving, that are acquired with the intention to convert into
cash within a finite period of time under a recognized securitization program sponsored by any Borrower. 
  

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 “Subsidiary” of a Person means (a) any corporation more than 50% of the
outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (b) any
partnership, limited liability company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. 
  
 “Substantial Portion” means, with respect to the
Property of a Borrower and its Subsidiaries, Property which (a) represents more than 10% of the consolidated assets of such Borrower and its Subsidiaries as would be shown in the consolidated financial statements of such Borrower and its
Subsidiaries as at the beginning of the twelve-month period ending with the month in which such determination is made, or (b) is responsible for more than 10% of the consolidated net sales or of the consolidated net income of such Borrower and its
Subsidiaries as reflected in the financial statements referred to in clause (a) above. 
  
 “Surplus Debentures” means, as to Nationwide Mutual, debt securities of Nationwide Mutual the proceeds of which are permitted to be included, in whole or in part, as Statutory Surplus
as approved and permitted by the insurance department of Nationwide Mutual’s state of domicile. 
  
 “Taxes” means any and all present or future taxes, duties, levies, imposts, deductions, charges or withholdings, and any and all liabilities with respect to the foregoing, but
excluding Excluded Taxes and Other Taxes. 
  
 “Total Capitalization” means at any time: 
  
 (a) with respect to Nationwide Mutual, the sum of (i) Nationwide Mutual’s outstanding Indebtedness and (ii) Nationwide Mutual’s Statutory Surplus based upon its most recently filed Quarterly Statement
excluding, however, the impact thereon of FIN 46; and 
  
 (b) with respect to NFS, the sum of (i) the consolidated Indebtedness of NFS and its Subsidiaries as of such time and (ii) the consolidated shareholders’ equity of NFS and its Subsidiaries as of such time based
upon its most recent financial statements prepared in accordance with Agreement Accounting Principles, excluding, however, the effect of any unrealized gain or loss reported under Statement of Financial Accounting Standards No. 115 and
the impact thereon of FIN 46. 
  
 “Transferee” is defined in Section 12.4. 
  
 “Type” means, with respect to any Advance, its nature as an ABR Advance, an Absolute Rate Advance, a Eurodollar Bid Rate Advance or a Eurodollar Ratable Advance. 
  
 “Unfunded Liabilities” means the amount (if any) by
which the sum of (i) the present value of all vested accrued benefits under all Single Employer Plans, calculated using PBGC actuarial assumptions for single employer plans, and (ii) the present value of all non-vested accrued benefits for such
Plans, calculated using FAS 35 actuarial assumptions, exceeds the fair 
  

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 market value of all such Plan assets allocable to such benefits, all determined as of the then most
recent valuation date for such Plans. 
  
 “Unmatured Default” means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default. 
  
 “Utilization Fee” is defined in Section 2.5(b). 
  
 “WCM” means Wachovia Capital Markets, LLC. 
  
 “Wholly-Owned Subsidiary” of a Person means (a) any
Subsidiary all of the outstanding voting securities of which shall at the time be owned or controlled, directly or indirectly, by such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or more Wholly-Owned
Subsidiaries of such Person, or (b) any partnership, limited liability company, association, joint venture or similar business organization 100% of the ownership interests having ordinary voting power of which shall at the time be so owned or
controlled. 
  
 The foregoing definitions shall be
equally applicable to both the singular and plural forms of the defined terms. References herein to particular columns, lines or sections of any Person’s Annual Statement shall be deemed, where appropriate, to be references to the corresponding
column, line or section of such Person’s Quarterly Statement, or if no such corresponding column, line or section exists or if any report form changes, then to the corresponding item referenced thereby. In the event that any changes in
Agreement Accounting Principles or SAP occur after the date of this Agreement and such changes result in a material variation in the method of calculation of financial covenants or other terms of this Agreement, then the Borrowers, the Agent and the
Lenders agree to amend such provisions of this Agreement so as to equitably reflect such changes in order that the criteria for evaluating each Borrower’s financial condition will be the same after such changes as if such changes had not
occurred. 
  
 
ARTICLE II 
  
 THE
CREDITS 
  
 
2.1 The Facility. 
  
 2.1.1 Description of Facility. The Lenders grant to the Borrowers a revolving credit facility pursuant to which, and upon the terms and subject to the conditions herein set forth: 
  
 (a) each Lender severally agrees to make
Ratable Loans to each of the Borrowers in amounts not to exceed in the aggregate at any one time outstanding the amount of such Lender’s Commitment in accordance with Section 2.2; and 
  
 (b) each Lender may, in its sole discretion,
make bids to make Competitive Bid Loans to each of the Borrowers in accordance with Section 2.3. 
  
 2.1.2 Amount of Facility. In no event may the aggregate principal amount of all outstanding Advances (including both the Ratable
Advances and the Competitive Bid Advances) 
  

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 to all Borrowers exceed the Aggregate Commitment. The Commitments may be terminated or reduced from time
to time pursuant to Section 2.5(c) or Section 8.1, and may be increased from time to time pursuant to Section 2.5(d). 
  
 2.1.3 Availability of Facility. Subject to the terms of this Agreement, the facility is available from the date hereof to the
Facility Termination Date, and the Borrowers may borrow, repay and reborrow at any time prior to the Facility Termination Date. The Commitments to lend hereunder shall expire on the Facility Termination Date. 
  
 2.1.4 Repayment of Facility. Any outstanding Advances
and all other unpaid Obligations shall be paid in full by the Borrowers on the Facility Termination Date. 
  
 2.1.5 Several Obligations. Each Borrower will be severally obligated for all Advances made to such Borrower and all interest
accrued with respect thereto, and no Borrower will be obligated for any Advances made to any other Borrower. Except as provided in this Section 2.1.5 and as otherwise expressly provided herein, the Borrowers shall be jointly and severally
liable for all other Obligations hereunder. 
  
 
2.2 Ratable Advances. 
  
 2.2.1 Ratable Advances. Each Ratable Advance hereunder shall consist of Loans made to a Borrower from the several Lenders ratably in proportion to the ratio that their respective Commitments bear to the
Aggregate Commitment. The aggregate outstanding amount of Competitive Bid Advances shall reduce each Lender’s Commitment ratably in the proportion such Lender’s Commitment bears to the Aggregate Commitment regardless of which Lender or
Lenders make such Competitive Bid Advances. 
  
 2.2.2 Types of Ratable Advances. The Ratable Advances may be ABR Advances or Eurodollar Ratable Advances, or a combination thereof, selected by the Borrower requesting such Advance in accordance with Section 2.2.3. 

 
 2.2.3 Method of Selecting Types and Interest Periods
for Ratable Advances. Each applicable Borrower shall select the Type of Ratable Advance and, in the case of each Eurodollar Ratable Advance, the Interest Period applicable thereto from time to time. Such Borrower shall give the Agent irrevocable
notice (a “Ratable Borrowing Notice”) not later than 11:00 a.m. (New York time) at least one Business Day before the Borrowing Date of each ABR Advance and three Business Days before the Borrowing Date for each Eurodollar Ratable
Advance. Notwithstanding the foregoing, a Ratable Borrowing Notice for an ABR Advance may be given by a Borrower not later than 15 minutes after the time which such Borrower is required to reject one or more bids offered in connection with an
Absolute Rate Auction pursuant to Section 2.3.6 and a Ratable Borrowing Notice for a Eurodollar Ratable Advance may be given not later than 15 minutes after the time such Borrower is required to reject one or more bids offered in connection
with a Eurodollar Auction pursuant to Section 2.3.6. A Ratable Borrowing Notice shall specify: 
  
 (a) the Borrowing Date, which shall be a Business Day, of such Ratable Advance, 
  

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 (b) the aggregate amount of such Ratable Advance, 
  
 (c) the Type of Ratable Advance selected,
and 
  
 (d) in the case of each
Eurodollar Ratable Advance, the Interest Period applicable thereto (which may not end after the Facility Termination Date). 
  
 2.2.4 Conversion and Continuation of Outstanding Ratable Advances. ABR Advances shall continue as ABR Advances unless and until
such ABR Advances are converted into Eurodollar Advances pursuant to this Section 2.2.4 or are repaid in accordance with Section 2.7. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance until the end of the
then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically converted into an ABR Advance unless (i) such Eurodollar Ratable Advance is or was repaid in accordance with Section 2.7
or (ii) the Borrower to which such Eurodollar Ratable Advance was made shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance
continue as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period. Subject to the terms of Section 2.6, each Borrower may elect from time to time to convert all or any part of an ABR Advance made to such Borrower
into a Eurodollar Ratable Advance. Such Borrower shall give the Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an ABR Advance into a Eurodollar Ratable Advance or continuation of a Eurodollar
Ratable Advance not later than 11:00 a.m. (New York time) at least three Business Days prior to the date of the requested conversion or continuation, specifying: 
  
 (a) the requested date of such conversion or continuation, which shall be a Business Day,

  
 (b) the aggregate amount and
Type of the Ratable Advance which is to be converted or continued, and 
  
 (c) the amount of such Ratable Advance which is to be converted into or continued as a Eurodollar Ratable Advance and the duration of the Eurodollar Interest Period applicable thereto.

  
 
2.3 Competitive Bid Advances. 
  
 2.3.1. Competitive Bid Option. In addition to Ratable Advances pursuant to Section 2.2, but subject to the terms and conditions of this Agreement (including, without limitation, the limitation set forth
in Section 2.1.2 as to the maximum aggregate principal amount of all outstanding Advances hereunder), each Borrower may, as set forth in this Section 2.3, request the Lenders, prior to the Facility Termination Date, to make offers to
make Competitive Bid Advances to such Borrower. Each Lender may, but shall have no obligation to, make such offers and such Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section 2.3.
Each Competitive Bid Advance to a Borrower shall be repaid by such Borrower on the last day of the Interest Period applicable thereto. 
  

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 2.3.2. Competitive Bid Quote Request. When a Borrower (in such capacity, a
“Requesting Borrower”) wishes to request offers to make Competitive Bid Loans under this Section 2.3, it shall transmit to the Agent by telecopy a Competitive Bid Quote Request so as to be received no later than (i) 11:00
a.m. (New York time) at least five Business Days prior to the Borrowing Date proposed therein, in the case of a Eurodollar Auction, or (ii) 10:00 a.m. (New York time) at least one Business Day prior to the Borrowing Date proposed therein, in the
case of an Absolute Rate Auction, specifying: 
  
 (a) the proposed Borrowing Date, which shall be a Business Day, for such Competitive Bid Advance, 
  
 (b) the aggregate principal amount of such Competitive Bid Advance, 
  
 (c) whether the Competitive Bid Quotes
requested are to set forth a Competitive Bid Margin or an Absolute Rate, or both, 
  
 (d) whether the proposed Competitive Bid Advance will be subject to prepayment, and 
  
 (e) the Interest Period applicable thereto (which may not end after the Facility Termination Date). 
  
 The Requesting Borrower may request offers to make Competitive Bid Loans for
more than one Interest Period and for a Eurodollar Auction and an Absolute Rate Auction in a single Competitive Bid Quote Request. No Competitive Bid Quote Request shall be given within 5 Business Days (or such other number of days as the requesting
Borrower and the Agent may agree) of any other Competitive Bid Quote Request. A Competitive Bid Quote Request that does not conform substantially to the format of Exhibit E hereto shall be rejected, and the Agent shall promptly notify the
Requesting Borrower of such rejection. 
  
 2.3.3.
Invitation for Competitive Bid Quotes. Promptly and in any event before the close of business on the same Business Day of receipt of a Competitive Bid Quote Request that is not rejected pursuant to Section 2.3.2, the Agent shall send
to each of the Lenders by telecopy an Invitation for Competitive Bid Quotes substantially in the form of Exhibit F hereto, which shall constitute an invitation by the Requesting Borrower to each Lender to submit Competitive Bid Quotes
offering to make the Competitive Bid Loans to which such Competitive Bid Quote Request relates in accordance with this Section 2.3. 
  
 2.3.4. Submission and Contents of Competitive Bid Quotes. (a) Each Lender may, in its sole discretion, submit a Competitive Bid
Quote containing an offer or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.3.4 and must be submitted to the Agent
by telecopy at its offices specified in or pursuant to Article XIII not later than (i) 10:00 a.m. (New York time) at least three Business Days prior to the proposed Borrowing Date, in the case of a Eurodollar Auction or (ii) 10:00 a.m. (New
York time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon 
  

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 reasonable prior notice to the Lenders, such other time and date as the Requesting Borrower and the Agent
may agree); provided that Competitive Bid Quotes submitted by CUSA may only be submitted if the Agent or CUSA notifies the Requesting Borrower of the terms of the offer or offers contained therein not later than 15 minutes prior to the latest
time at which the relevant Competitive Bid Quotes must be submitted by the other Lenders. Subject to Articles IV and VIII, any Competitive Bid Quote so made shall be irrevocable except with the written consent of the Agent given on the
instructions of the Requesting Borrower. 
  
 (b) Each Competitive Bid Quote shall be in substantially the form of Exhibit D hereto and shall in any case specify: 
  
 (i) the proposed Borrowing Date, which shall be the same as that set forth in the applicable Invitation for Competitive
Bid Quotes, 
  
 (ii) the
principal amount of the Competitive Bid Loan for which each such offer is being made, which principal amount (A) may be greater than, less than or equal to the Commitment of the quoting Lender, (B) must be at least $25,000,000 and an integral
multiple of $1,000,000, and (C) may not exceed the principal amount of Competitive Bid Loans for which offers were requested, 
  
 (iii) in the case of a Eurodollar Auction, the Competitive Bid Margin offered for each such Competitive Bid Loan,

  
 (iv) the minimum amount, if
any, of the Competitive Bid Loan which may be accepted by the Requesting Borrower, 
  
 (v) in the case of an Absolute Rate Auction, the Absolute Rate offered for each such Competitive Bid Loan, 
  
 (vi) the maximum aggregate amount, if any, of Competitive Bid Loans offered by the quoting
Lender which may be accepted by the Requesting Borrower, and 
  
 (vii) the identity of the quoting Lender. 
  
 (c) The Agent shall reject any Competitive Bid Quote that: 
  
 (i) is not substantially in the form of Exhibit D hereto or does not specify all of the information required by
this Section 2.3.4(c), 
  
 (ii) contains qualifying, conditional or similar language, other than any such language contained in Exhibit D hereto, 
  
 (iii) proposes terms other than or in addition to those set forth in the applicable Invitation for Competitive Bid Quotes,
or 
  

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 (iv) arrives after the time set forth in Section 2.3.4(a).

  
 If any Competitive Bid Quote shall be rejected pursuant to
this Section 2.3.4(c), then the Agent shall notify the relevant Lender of such rejection as soon as practical. 
  
 2.3.5. Notice to Requesting Borrower. The Agent shall promptly notify the Requesting Borrower of the terms (a) of any Competitive
Bid Quote submitted by a Lender that is in accordance with Section 2.3.4 and (b) of any Competitive Bid Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote submitted by such Lender with respect to
the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Agent unless such subsequent Competitive Bid Quote specifically states that it is submitted solely to correct a manifest error in such
former Competitive Bid Quote. The Agent’s notice to the Requesting Borrower shall specify the aggregate principal amount of Competitive Bid Loans for which offers have been received for each Interest Period specified in the related Competitive
Bid Quote Request and the respective principal amounts and Eurodollar Bid Rates or Absolute Rates, as the case may be, so offered. 
  
 2.3.6. Acceptance and Notice by Borrower. Not later than (a) 11:00 a.m. (New York time) at least three Business Days prior to the
proposed Borrowing Date, in the case of a Eurodollar Auction or (b) 11:00 a.m. (New York time) on the proposed Borrowing Date, in the case of an Absolute Rate Auction (or, in either case upon reasonable prior notice to the Lenders, such other time
and date as the Requesting Borrower and the Agent may agree), the Requesting Borrower shall notify the Agent of its acceptance or rejection of the offers so notified to it pursuant to Section 2.3.5; provided, however, that the
failure by the Requesting Borrower to give such notice to the Agent shall be deemed to be a rejection of all such offers. In the case of acceptance, such notice (a “Competitive Bid Borrowing Notice”) shall specify the aggregate
principal amount of offers for each Interest Period that are accepted. The Requesting Borrower may accept any Competitive Bid Quote in whole or in part (subject to the terms of Section 2.3.4(b)(iv)); provided that: 
  
 (a) the aggregate principal amount of each
Competitive Bid Advance may not exceed the applicable amount set forth in the related Competitive Bid Quote Request, 
  
 (b) acceptance of offers may only be made on the basis of ascending Eurodollar Bid Rates or Absolute Rates, as the case
may be, and 
  
 (c) the
Requesting Borrower may not accept any offer that is described in Section 2.3.4(c) or that otherwise fails to comply with the requirements of this Agreement. 
  
 2.3.7. Allocation by Agent. If offers are made by two or more Lenders with the same Eurodollar Bid
Rates or Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect of which offers are accepted for the related Interest Period, the principal amount of Competitive Bid Loans in respect of which such
offers are accepted shall be allocated by the Agent among such Lenders as nearly as possible (in such multiples, not 
  

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 greater than $1,000,000, as the Agent may deem appropriate) in proportion to the aggregate principal
amount of such offers; provided, however, that no Lender shall be allocated a portion of any Competitive Bid Advance which is less than the minimum amount which such Lender has indicated that it is willing to accept. Allocations by the
Agent of the amounts of Competitive Bid Loans shall be conclusive in the absence of manifest error. The Agent shall promptly, but in any event on the same Business Day, notify each Lender of its receipt of a Competitive Bid Borrowing Notice and the
aggregate principal amount of such Competitive Bid Advance allocated to each participating Lender. 
  
 2.3.8. Administration Fee. Each Requesting Borrower hereby agrees to pay to the Agent an administration fee of $3,000 for each Competitive Bid Quote Request transmitted by such Requesting
Borrower to the Agent pursuant to Section 2.3.2. Such administration fee shall be payable in arrears on each Payment Date hereafter and on the Facility Termination Date (or such earlier date on which the Aggregate Commitment shall terminate
or be cancelled) for any period then ending for which such fee, if any, shall not have been theretofore paid. 
  
 
2.4 Method of Borrowing. Not later than 1:00 p.m. (New York time) on each Borrowing Date, each Lender shall make available its Loan or Loans in funds immediately available in New York to the Agent at its address
specified pursuant to Article XIII. Promptly upon its receipt thereof, the Agent will make the funds so received from the Lenders available to the applicable Borrower at the Agent’s aforesaid address. 
  
 
2.5 Commitment Fee; Reduction and Increase of Aggregate Commitment. 
  
 (a) Facility Fee. The Borrowers jointly and severally agree to pay to the Agent for the account of each Lender a
facility fee (the “Facility Fee”) at a per annum rate equal to the Applicable Facility Fee Rate on each Lender’s Commitment regardless of usage. Each Borrower shall be obligated to pay to the Agent for the account of each
Lender an undivided one-third portion of the Facility Fee, with such Borrower’s portion based on its Status (as defined in the Pricing Schedule). The Facility Fee is payable quarterly in arrears on each Payment Date hereafter and on the
Facility Termination Date. 
  
 (b) Utilization Fee. For each day on which the aggregate principal amount of all outstanding Advances (including both Ratable Advances and Competitive Bid Advances) exceeds 50% of the Aggregate Commitment, the Borrowers jointly and
severally agree to pay to the Agent for the account of each Lender based on each Lender’s outstanding Advances a utilization fee (the “Utilization Fee”) at a per annum rate equal to the Applicable Utilization Fee Rate on the
average daily amount of all outstanding Advances. The Utilization Fee is payable quarterly in arrears on each Payment Date hereafter and on the Facility Termination Date. 
  
 (c) Reductions in Aggregate Commitment. The Borrowers may permanently reduce the
Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $10,000,000, upon at least three Business Days’ written notice to the Agent, which notice shall specify the amount of any such reduction,
provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Advances. All accrued commitment fees shall be 
  

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 payable on the effective date of any termination of the obligations of the Lenders to
make Loans hereunder. 
  
 (d)
Increase in Aggregate Commitment. The Borrowers may, at their option, no more than one time in any calendar year, seek to increase the Aggregate Commitment, in minimum increments of $25,000,000, by up to an aggregate amount of $300,000,000
(resulting in a maximum Aggregate Commitment of $1,300,000,000) upon at least three (3) Business Days’ written notice to the Agent, which notice shall specify the amount of such increase and shall be delivered at a time when no Default or
Unmatured Default has occurred and is continuing. The Borrowers may, after giving such notice, offer the increase in the Aggregate Commitment on either a ratable basis to the Lenders or on a non-pro rata basis to one or more Lenders and/or to other
banks or entities reasonably acceptable to the Agent. Any Lender may, in its sole discretion, accept or reject any offer from the Borrowers to increase its Commitment. No increase in the Aggregate Commitment shall become effective until the existing
or new Lenders extending such incremental Commitment amount and the Borrowers shall have delivered to the Agent a document in form reasonably satisfactory to the Agent pursuant to which any such existing Lender states the amount of its Commitment
increase, any such new Lender states its Commitment amount and agrees to assume and accept the obligations and rights of a Lender hereunder and the Borrowers accept such incremental Commitments. The Lenders (new or existing) shall accept an
assignment from the existing Lenders, and the existing Lenders shall make an assignment to the new or existing Lender accepting a new or increased Commitment, of an interest in each then outstanding Ratable Advance such that, after giving effect
thereto, all Ratable Advances are held ratably by the Lenders in proportion to their respective Commitments. Assignments pursuant to the preceding sentence shall be made in exchange for the principal amount assigned plus accrued and unpaid interest,
Commitment Fees and Facility Fees. The Borrowers shall make any payments under Section 3.4 resulting from such assignments. 
  
 
2.6 Minimum Amount of Each Ratable Advance; Minimum Amount of Fixed Rate Advances. Each Eurodollar Ratable Advance shall be in the minimum amount of $25,000,000 (and in multiples of $1,000,000 if in excess
thereof), and each ABR Advance shall be in the minimum amount of $25,000,000 (and in multiples of $1,000,000 if in excess thereof); provided, however, that any ABR Advance may be in the amount of the unused Aggregate Commitment. No
Borrower shall request a Fixed Rate Advance if, after giving effect to the requested Fixed Rate Advance, more than six (6) separate Fixed Rate Advances would be outstanding in respect of all Borrowers. 
  
 
2.7 Optional Principal Payments. Each Borrower may from time to time pay, without penalty or premium, all outstanding ABR Advances, or, in a minimum aggregate amount of $10,000,000, any portion of the
outstanding ABR Advances, upon one Business Day’s prior notice to the Agent. Each Borrower may from time to time pay, subject to the payment of any funding indemnification amounts required by Section 3.4 but without penalty or premium,
all outstanding Eurodollar Ratable Advances, or, in a minimum aggregate amount of $10,000,000 or any integral multiple of $1,000,000 in excess thereof, any portion of the outstanding Eurodollar Ratable Advances upon three Business Days’ prior
notice to the Agent. Except as specifically agreed to by the applicable Borrower and Lender, a Competitive Bid Loan may not be paid prior 
  

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 to the last day of the applicable Interest Period. Any optional principal payment of a Competitive Bid
Loan which is permitted by such Borrower and such Lender shall be made subject to the payment of any funding indemnification amounts required by Section 3.4 and to any minimum amounts agreed upon by such Borrower and such Lender. 

 
 
2.8 Changes in Interest Rate, etc. Each ABR Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made or is automatically converted
from a Eurodollar Ratable Advance into an ABR Advance pursuant to Section 2.2.4, to but excluding the date it is paid or is converted into a Eurodollar Ratable Advance pursuant to Section 2.2.4 hereof, at a rate per annum equal to the
Alternate Base Rate for such day. Changes in the rate of interest on that portion of any Advance maintained as an ABR Advance will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance shall bear interest on
the outstanding principal amount thereof from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period (i) in the case of a Eurodollar Ratable Advance, at the Eurodollar Rate
for the Interest Period in effect for such Eurodollar Ratable Advance and (ii) in the case of a Eurodollar Bid Rate Advance, at the Eurodollar Bid Rate for the Interest Period in effect for such Eurodollar Bid Rate Advance. Each Absolute Rate
Advance shall bear interest on the outstanding principal amount thereof from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the Absolute Rate applicable to such
Absolute Rate Advance. No Interest Period may end after the Facility Termination Date. 
  
 
2.9 Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.2.3 or 2.2.4, during the continuance of a Default or Unmatured Default with respect to any
Borrower, the Required Lenders may, at their option, by notice to such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to
changes in interest rates), declare that no Ratable Advance to such Borrower may be made as, converted into or continued as a Eurodollar Ratable Advance. During the continuance of a Default with respect to such Borrower, the Required Lenders may, at
their option, by notice to such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that
(a) each Fixed Rate Advance made to such Borrower shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and (b) each ABR Advance made to such Borrower shall
bear interest at a rate per annum equal to the Alternate Base Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default with respect to any Borrower under Section 7.6 or 7.7, the
interest rates set forth in clauses (a) and (b) above shall be applicable to all Advances of all Borrowers without any election or action on the part of the Agent or any Lender. 
  
 
2.10 Method of Payment. All payments of the Obligations hereunder shall be made, without setoff, deduction, or counterclaim, in immediately available funds to the Agent at the Agent’s address specified
pursuant to Article XIII, or at any other Lending Installation of the Agent specified in writing by the Agent to the Borrowers, by 1:00 p.m. (New York time) on the date when due and shall be applied ratably by the Agent among the Lenders.
Each payment delivered to the Agent for the account of any Lender shall be delivered promptly by the Agent to 
  

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 such Lender in the same type of funds that the Agent received at its address specified pursuant to
Article XIII or at any Lending Installation specified in a notice received by the Agent from such Lender. The Agent is hereby authorized to charge the account of each Borrower maintained with CUSA for each payment of principal, interest and
fees as it becomes due hereunder with respect to such Borrower. 
  
 
2.11 Noteless Agreement; Evidence of Indebtedness. (a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender
resulting from each Loan made by such Lender to such Borrower from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 
  
 (b) The Agent shall also maintain accounts
in which it will record (i) the amount of each Loan made to each Borrower hereunder, the Type thereof and the Interest Period with respect thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from each
Borrower to each Lender hereunder and (iii) the amount of any sum received by the Agent hereunder from each Borrower and each Lender’s share thereof. 
  
 (c) The entries maintained in the accounts maintained pursuant to paragraphs (a) and (b) above shall be prima
facie evidence of the existence and amounts of the Obligations therein recorded; provided, however, that the failure of the Agent or any Lender to maintain such accounts or any error therein shall not in any manner affect the
obligation of the Borrowers to repay the Obligations in accordance with their terms. 
  
 (d) Any Lender may request that its Ratable Loans or its Competitive Bid Loans be evidenced by Ratable Notes or
Competitive Bid Notes, respectively. In such event, each Borrower shall prepare, execute and deliver to such Lender a Ratable Note or a Competitive Bid Note, as the case may be, payable to the order of such Lender. Thereafter, the Loans evidenced by
such Note and interest thereon shall at all times (including after any assignment pursuant to Section 12.3) be represented by one or more Notes payable to the order of the payee named therein or any assignee pursuant to Section 12.3,
except to the extent that any such Lender or assignee subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced as described in paragraphs (a) and (b) above. 
  
 
2.12 Telephonic Notices. Each Borrower hereby authorizes the Lenders and the Agent to extend, convert or continue Advances, effect selections of Types of Advances, submit Competitive Bid Quotes and transfer
funds based on telephonic notices made by any person or persons the Agent or any Lender in good faith believes to be acting on behalf of such Borrower, it being understood that the foregoing authorization is specifically intended to allow Borrowing
Notices, Conversion/Continuation Notices and Competitive Bid Quote Requests to be given telephonically. Each Borrower agrees to deliver promptly to the Agent a written confirmation, if such confirmation is requested by the Agent or any Lender, of
each telephonic notice signed by an Authorized Officer. If the written confirmation differs in any material respect from the action taken by the Agent and the Lenders, the records of the Agent and the Lenders shall govern absent manifest error.

  

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2.13 Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date
on which the ABR Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any ABR Advance converted into a Eurodollar Ratable Advance on a day other than a
Payment Date shall be payable on the date of conversion. Interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Advance is prepaid, whether by acceleration
or otherwise, and at maturity. Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest on Fixed Rate
Advances and fees shall be calculated for actual days elapsed on the basis of a 360-day year, and interest on ABR Advances shall be calculated for actual days elapsed on the basis of a 365 or 366 day year, as applicable. Interest shall be payable
for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which
is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment. 
  
 
2.14 Notification of Advances, Interest Rates, Prepayments and Commitment Reductions. Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction
notice, Ratable Borrowing Notice, Conversion/Continuation Notice, Competitive Bid Borrowing Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Fixed Rate Advance promptly
upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate. 
  
 
2.15 Lending Installations. Each Lender may book its Loans at any Lending Installation selected by such Lender and may change its Lending Installation from time to time. All terms of this Agreement shall apply
to any such Lending Installation and the Loans and any Notes issued hereunder shall be deemed held by each Lender for the benefit of any such Lending Installation. Each Lender may, by written notice to the Agent and the Borrowers in accordance with
Article XIII, designate replacement or additional Lending Installations through which Loans will be made by it and for whose account Loan payments are to be made. 
  
 
2.16 Non-Receipt of Funds by the Agent. Unless a Borrower or a Lender, as the case may be, notifies the Agent prior to the date on which it is scheduled to make payment to the Agent of (a) in the case of a
Lender, the proceeds of a Loan or (b) in the case of a Borrower, a payment of principal, interest or fees to the Agent for the account of the Lenders, that it does not intend to make such payment, the Agent may assume that such payment has been
made. The Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or such Borrower, as the case may be, has not in fact made such payment to the
Agent, the recipient of such payment shall, on demand by the Agent, repay to the Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by
the Agent until the date the Agent recovers such amount at a rate per 
  

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 annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate for such day for
the first three days and, thereafter, the interest rate applicable to the relevant Loan or (ii) in the case of payment by a Borrower, the interest rate applicable to the relevant Loan. The failure of any Lender to make any Loan required to be made
by it shall not relieve any other Lender of its obligations hereunder; provided, that the Commitments and the Competitive Bid Advances of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as
required hereunder. 
  
 
ARTICLE III 
  
 YIELD
PROTECTION; TAXES 
  
 
3.1 Yield Protection. If, on or after the date of this Agreement, the adoption of any law or any governmental or quasi-governmental rule, regulation, policy, guideline or directive (whether or not having the
force of law), or any change in the interpretation or administration thereof by any governmental or quasi-governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any
Lender or applicable Lending Installation with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency: 
  
 (a) subjects any Lender or any applicable Lending Installation to any Taxes, or changes the
basis of taxation of payments (other than with respect to Excluded Taxes) to any Lender in respect of its Fixed Rate Loans, or 
  
 (b) imposes or increases or deems applicable any reserve, assessment, insurance charge, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by, any Lender or any applicable Lending Installation (other than reserves and assessments taken into account in determining the interest rate applicable to Fixed
Rate Advances), or 
  
 (c)
imposes any other condition the result of which is to increase the cost to any Lender or any applicable Lending Installation of making, funding or maintaining its Fixed Rate Loans or reduces any amount receivable by any Lender or any applicable
Lending Installation in connection with its Fixed Rate Loans, or requires any Lender or any applicable Lending Installation to make any payment calculated by reference to the amount of Fixed Rate Loans held or interest received by it, by an amount
deemed material by such Lender, 
  
 and the result of any of the
foregoing is to increase the cost to such Lender or applicable Lending Installation of making or maintaining its Fixed Rate Loans or Commitment or to reduce the return received by such Lender or applicable Lending Installation in connection with
such Fixed Rate Loans or Commitment, then, within 15 days of demand by such Lender, the Borrowers shall pay such Lender such additional amount or amounts as will compensate such Lender for such increased cost or reduction in amount received.

  
 
3.2 Changes in Capital Adequacy Regulations. If a Lender determines the amount of capital required or expected to be maintained by such Lender, any Lending Installation of such 
  

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 Lender or any corporation controlling such Lender is increased as a result of a Change, then, within 15
days of demand by such Lender, the Borrowers shall pay such Lender the amount necessary to compensate for any shortfall in the rate of return on the portion of such increased capital which such Lender determines is attributable to this Agreement,
its Loans or its Commitment to make Loans hereunder (after taking into account such Lender’s policies as to capital adequacy). “Change” means (a) any change after the date of this Agreement in the Risk-Based Capital Guidelines or (b)
any adoption of or change in any other law, governmental or quasi-governmental rule, regulation, policy, guideline, interpretation, or directive (whether or not having the force of law) after the date of this Agreement which affects the amount of
capital required or expected to be maintained by any Lender or any Lending Installation or any corporation controlling any Lender. “Risk-Based Capital Guidelines” means (i) the risk-based capital guidelines in effect in the United States
on the date of this Agreement, including transition rules, and (ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States implementing the July 1988 report of the Basle Committee on Banking Regulation
and Supervisory Practices Entitled “International Convergence of Capital Measurements and Capital Standards,” including transition rules, and any amendments to such regulations adopted prior to the date of this Agreement. 
  
 
3.3 Availability of Types of Advances. If (a) any Lender determines that maintenance of its Eurodollar Ratable Loans or Eurodollar Bid Rate Loans at a suitable Lending Installation would violate any applicable
law, rule, regulation, or directive, whether or not having the force of law, or (b) if the Required Lenders determine that (i) deposits of a type and maturity appropriate to match fund Eurodollar Ratable Advances are not available or (ii) the
interest rate applicable to Eurodollar Ratable Advances does not accurately reflect the cost of making or maintaining Eurodollar Ratable Advances, then the Agent shall, in the case of clause (a) above, suspend the availability of Eurodollar Ratable
Advances and Eurodollar Bid Rate Advances and, pursuant to a notice given to the applicable Borrowers from the Agent, require any affected Eurodollar Rate Advances and Eurodollar Bid Rate Advances to be repaid or converted to ABR Advances, subject
to the payment of any funding indemnification amounts required by Section 3.4, and, in the case of clause (b) above, suspend the availability of Eurodollar Ratable Advances and, pursuant to a notice given to the applicable Borrowers from the
Agent, require any affected Eurodollar Ratable Advances to be repaid or converted to ABR Rate Advances, subject to the payment of any funding indemnification amounts required by Section 3.4. 
  
 
3.4 Funding Indemnification. If any payment of a Fixed Rate Advance occurs on a date which is not the last day of the applicable Interest Period, whether because of acceleration, prepayment or otherwise, or a
Fixed Rate Advance is not made on the date specified by the requesting Borrower for any reason other than default by the Lenders, such Borrower will indemnify each Lender for any loss or cost incurred by it resulting therefrom, including, without
limitation, any loss or cost in liquidating or employing deposits acquired to fund or maintain such Fixed Rate Advance. 
  
 
3.5 Taxes. (a) All payments by the Borrowers to or for the account of any Lender or the Agent hereunder or under any Note shall be made free and clear of and without deduction for any and all Taxes. If any
Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder to any Lender or the Agent, (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions

  

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 applicable to additional sums payable under this Section 3.5) such Lender or the Agent (as the
case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Borrower shall make such deductions, (iii) such Borrower shall pay the full amount deducted to the relevant authority in accordance
with applicable law and (iv) such Borrower shall furnish to the Agent the original copy of a receipt evidencing payment thereof within 30 days after such payment is made. 
  
 (b) In addition, the Borrowers hereby agree to pay any present or future stamp or
documentary taxes and any other excise or property taxes, charges or similar levies which arise from any payment made hereunder or under any Note or from the execution or delivery of, or otherwise with respect to, this Agreement or any Note
(“Other Taxes”). 
  
 (c) The Borrowers hereby agree to indemnify the Agent and each Lender for the full amount of Taxes or Other Taxes (including, without limitation, any Taxes or Other Taxes imposed on amounts payable under this Section 3.5) paid by the
Agent or such Lender and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto. Payments due under this indemnification shall be made within 30 days of the date the Agent or such Lender makes demand
therefor pursuant to Section 3.6. 
  
 (d) Each Lender that is not incorporated under the laws of the United States of America or a state thereof (each a “Non-U.S. Lender”) agrees that it will, not more than ten Business Days after the
date of this Agreement, (i) deliver to each of the Borrowers and the Agent two duly completed copies of United States Internal Revenue Service Form W-8BEN or W-8ECI, certifying in either case that such Lender is entitled to receive payments under
this Agreement without deduction or withholding of any United States federal income taxes, and (ii) deliver to each of the Borrowers and the Agent a United States Internal Revenue Form W-8 or W-9, as the case may be, and certify that it is entitled
to an exemption from United States backup withholding tax. Each Non-U.S. Lender further undertakes to deliver to each of the Borrowers and the Agent (x) renewals or additional copies of such form (or any successor form) on or before the date that
such form expires or becomes obsolete, and (y) after the occurrence of any event requiring a change in the most recent forms so delivered by it, such additional forms or amendments thereto as may be reasonably requested by any Borrower or the Agent.
All forms or amendments described in the preceding sentence shall certify that such Lender is entitled to receive payments under this Agreement without deduction or withholding of any United States federal income taxes, unless an event
(including without limitation any change in treaty, law or regulation) has occurred prior to the date on which any such delivery would otherwise be required which renders all such forms inapplicable or which would prevent such Lender from duly
completing and delivering any such form or amendment with respect to it and such Lender advises the Borrowers and the Agent that it is not capable of receiving payments without any deduction or withholding of United States federal income tax.

  
 (e) For any period during
which a Non-U.S. Lender has failed to provide any Borrower with an appropriate form pursuant to clause (d), above (unless such failure is due to a change in treaty, law or regulation, or any change in the interpretation or 
  

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 administration thereof by any Governmental Authority, occurring subsequent to the date on
which a form originally was required to be provided), such Non-U.S. Lender shall not be entitled to indemnification under this Section 3.5 with respect to Taxes imposed by the United States; provided that, should a Non-U.S. Lender
which is otherwise exempt from or subject to a reduced rate of withholding tax become subject to Taxes because of its failure to deliver a form required under clause (d), above, such Borrower shall take such steps as such Non-U.S. Lender shall
reasonably request to assist such Non-U.S. Lender to recover such Taxes. 
  
 (f) Any Lender that is entitled to an exemption from or reduction of withholding tax with respect to payments under this Agreement or any Note pursuant to the law of any relevant jurisdiction or
any treaty shall deliver to the Borrowers (with a copy to the Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without
withholding or at a reduced rate. 
  
 (g) If the U.S. Internal Revenue Service or any other Governmental Authority of the United States or any other country or any political subdivision thereof asserts a claim that the Agent did not properly withhold tax from amounts paid to or
for the account of any Lender (because the appropriate form was not delivered or properly completed, because such Lender failed to notify the Agent of a change in circumstances which rendered its exemption from withholding ineffective, or for any
other reason), such Lender shall indemnify the Agent fully for all amounts paid, directly or indirectly, by the Agent as tax, withholding therefor, or otherwise, including penalties and interest, and including taxes imposed by any jurisdiction on
amounts payable to the Agent under this subsection, together with all costs and expenses related thereto (including attorneys fees and time charges of attorneys for the Agent, which attorneys may be employees of the Agent). The obligations of the
Lenders under this Section 3.5(g) shall survive the payment of the Obligations and termination of this Agreement. 
  
 (h) If any Lender receives a refund which it determines in its sole discretion to be in respect of any Taxes as to which
it has been indemnified by any Borrower or with respect to which such Borrower (or any Person acting on behalf of such Borrower) has paid additional amounts pursuant to this Section 3.5, then such Lender shall promptly repay such refund to
such Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by such Borrower (or such Person acting on behalf of such Borrower) under this Section 3.5 with respect to Taxes giving rise to such refund), net of
all amounts paid pursuant to Section 3.5(c) and all out-of-pocket expenses of such Lender or the Agent, as the case may be; provided, that such Borrower, upon the request of such Lender or the Agent, agrees to return such refund
(together with any penalties, interest or other charges due in connection therewith to the appropriate taxing authority or other Governmental Authority) to such Lender or the Agent in the event such Lender or the Agent is required to pay or to
return such refund to the relevant taxing authority or other Governmental Authority. 
  
 
3.6 Lender Statements; Survival of Indemnity. To the extent reasonably possible, each Lender shall designate an alternate Lending Installation with respect to its Eurodollar Loans 
  

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 to reduce any liability of the Borrowers to such Lender under Sections 3.1, 3.2 and
3.5 or to avoid the unavailability of Eurodollar Ratable Advances under Section 3.3, so long as such designation is not, in the judgment of such Lender, disadvantageous to such Lender. Each Lender shall deliver a written statement of
such Lender to the Borrowers (with a copy to the Agent) as to the amount due, if any, under Section 3.1, 3.2, 3.4 or 3.5. Such written statement shall set forth in reasonable detail the calculations upon which such Lender
determined such amount and shall be final, conclusive and binding on the Borrowers in the absence of manifest error. Determination of amounts payable under such Sections in connection with a Eurodollar Loan shall be calculated as though each Lender
funded its Eurodollar Loan through the purchase of a deposit of the type and maturity corresponding to the deposit used as a reference in determining the Eurodollar Rate or Eurodollar Bid Rate, as the case may be, applicable to such Loan, whether in
fact that is the case or not. Unless otherwise provided herein, the amount specified in the written statement of any Lender (which statement shall be conclusive absent manifest error) shall be payable within ten (10) days after receipt by the
Borrowers of such written statement. The obligations of the Borrowers under Sections 3.1, 3.2, 3.4 and 3.5 shall survive payment of the Obligations and termination of this Agreement. 
  
 
ARTICLE IV 
  
 CONDITIONS PRECEDENT 
  
 
4.1 Effectiveness of Agreement. This Agreement shall not become effective, and the Lenders shall not be required to make the initial Advance hereunder, unless the Borrowers have furnished to the Agent with
sufficient copies for the Lenders: 
  
 (a) Charters and Good Standing Certificates. Copies of the articles or certificate of incorporation of each Borrower, together with all amendments, and a certificate of good standing, each certified by the appropriate governmental
officer in its jurisdiction of incorporation, as well as any other information required by Section 326 of the USA PATRIOT ACT or necessary for the Agent or any Lender to verify the identity of any Borrower as required by Section 326 of the USA
PATRIOT Act, and, in the case of Nationwide Mutual and Nationwide Life, a certificate of authority (or its equivalent) issued by the insurance department of such Borrower’s state of domicile. 
  
 (b) By-Laws and Resolutions. Copies,
certified by the Secretary or Assistant Secretary of each Borrower, of its by-laws or code of regulations and of its Board of Directors’ resolutions and of resolutions or actions of any other body authorizing the execution of the Loan Documents
to which such Borrower is a party. 
  
 (c) Incumbency Certificates. An incumbency certificate, executed by the Secretary or Assistant Secretary of each Borrower, which shall identify by name and title and bear the signatures of the Authorized Officers and any other
officers of each Borrower authorized to sign the Loan Documents to which such Borrower is a party and to make borrowings hereunder, upon which certificate the Agent and the Lenders shall be entitled to rely until informed of any change in writing by
such Borrower. 
  

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 (d) Closing Certificates. A certificate, signed by the chief
financial officer of each Borrower, stating that on the date hereof no Default or Unmatured Default has occurred and is continuing. 
  
 (e) Opinion. A written opinion of the Borrowers’ counsel, addressed to the Lenders in for and substance
acceptable to the Agent and its counsel. 
  
 (f) Notes. Any Notes requested by a Lender pursuant to Section 2.11 payable to the order of each such requesting Lender. 
  
 (g) Termination of Existing 364-Day Credit Agreement. All principal, interest and
other amounts due under that certain 364-Day Credit Agreement dated as of May 17, 2004 among the Borrowers, the Lenders named therein and JPMorgan Chase Bank, N.A. (formerly known as Bank One, NA), as Agent, and all other documents related thereto
shall have been paid in full and such agreement and all related documents shall have been terminated. 
  
 (h) Other. Such other documents as any Lender or its counsel may have reasonably requested. 
  
 
4.2 Each Advance. The Lenders shall not be required to make any Advance unless on the applicable Borrowing Date: 
  
 (a) There exists no Default or Unmatured Default with respect to the applicable Borrower. 
  
 (b) The representations and warranties of
the applicable Borrower contained in Article V are true and correct as of such Borrowing Date except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or
warranty shall have been true and correct on and as of such earlier date; provided, however, that Advances made to Nationwide Life under this Agreement for commercial paper back-up will not be subject to the truthfulness of the
representations and warranties set forth in Section 5.5. 
  
 (c) All legal matters incident to the making of such Advance shall be satisfactory to the Lenders and their counsel. 
  
 (d) Immediately after such Borrowing, the aggregate outstanding principal amount of the
Loans will not exceed the Aggregate Commitments. 
  
 Each Ratable Borrowing Notice with respect to each such Ratable Advance and each Competitive Bid Borrowing Notice with respect to each such Competitive Bid Advance shall constitute a representation and warranty by such Borrower that the
conditions contained in Sections 4.2(a) and (b) have been satisfied. Any Lender may require a duly completed compliance certificate in substantially the form of Exhibit B as a condition to making an Advance. 
  

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ARTICLE V 
  
 REPRESENTATIONS AND WARRANTIES 
  
 Each Borrower represents and warrants to the Lenders that: 
  
 
5.1 Existence and Standing. 
  
 (a) In the case of Nationwide Mutual, such Borrower is a mutual insurance company duly and properly incorporated, validly existing and in good standing under the laws of its jurisdiction of
incorporation or organization and has all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except where the failure to be authorized to conduct business could not reasonably be expected to have a
Material Adverse Effect. 
  
 (b)
In the case of Nationwide Life, such Borrower is an insurance company duly and properly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization and has all requisite authority to
conduct its business in each jurisdiction in which its business is conducted, except where the failure to be authorized to conduct business could not reasonably be expected to have a Material Adverse Effect. 
  
 (c) In the case of NFS, such Borrower is a
corporation duly and properly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization and has all requisite authority to conduct its business in each jurisdiction in which its business
is conducted, except where the failure to be authorized to conduct business could not reasonably be expected to have a Material Adverse Effect. 
  
 (d) Each of such Borrower’s Material Subsidiaries is a corporation, partnership, limited liability company or
business trust duly and properly incorporated or organized, as the case may be, validly existing and in good standing under the laws of its jurisdiction of incorporation or organization and has all requisite authority to conduct its business in each
jurisdiction in which its business is conducted, except where the failure to be so qualified, licensed or authorized could not reasonably be expected to have a Material Adverse Effect. 
  
 
5.2 Authorization and Validity. Such Borrower has the power and authority and legal right to execute and deliver the Loan Documents to which it is a party and to perform its obligations thereunder. The
execution and delivery by such Borrower of the Loan Documents to which it is a party and the performance of its obligations thereunder have been duly authorized by proper corporate proceedings, and the Loan Documents to which such Borrower is a
party constitute legal, valid and binding obligations of such Borrower enforceable against such Borrower in accordance with their terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally and by general principles of equity. 
  

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5.3 No Conflict; Government Consent. Neither the execution and delivery by such Borrower of the Loan Documents to which it is a party, nor the consummation of the transactions therein contemplated, nor
compliance with the provisions thereof will violate (a) any law, rule, regulation (including Regulations T, U and X), order, writ, judgment, injunction, decree or award binding on such Borrower or any of its Subsidiaries or (b) such Borrower’s
or any Subsidiary’s articles or certificate of incorporation, partnership agreement, certificate of partnership, articles or certificate of organization, by-laws, or operating or other management agreement, as the case may be, or (c) the
provisions of any indenture, instrument or agreement to which such Borrower or any of its Subsidiaries is a party or is subject, or by which it, or its Property, is bound, or conflict with or constitute a default thereunder, or result in, or
require, the creation or imposition of any Lien in, of or on the Property of such Borrower or a Subsidiary of such Borrower pursuant to the terms of any such indenture, instrument or agreement. No order, consent, adjudication, approval, license,
authorization, or validation of, or filing, recording or registration with, or exemption by, or other action in respect of any Governmental Authority, or any subdivision thereof, or any other Person (including without limitation the shareholders or
policyholders, as applicable, of any Person) which has not been obtained by such Borrower or any of its Subsidiaries, is required to be obtained by such Borrower or any of its Subsidiaries in connection with the execution and delivery of the Loan
Documents, the borrowings under this Agreement, the payment and performance by such Borrower of the Obligations or the legality, validity, binding effect or enforceability of any of the Loan Documents. 
  
 
5.4 Financial Statements. 
  
 (a) In the case of Nationwide Mutual, the December 31, 2004 Annual Statement of Nationwide Mutual heretofore delivered to the Lenders was prepared in accordance with SAP, and such Annual
Statement was prepared and fairly presents the financial condition and operations of Nationwide Mutual as at such date and the results of its operations for the period then ended. 
  
 (b) In the case of Nationwide Life, the December 31, 2004 Annual Statement of Nationwide
Life heretofore delivered to the Lenders was prepared in accordance with SAP, and such Annual Statement was prepared and fairly presents the financial condition and operations of Nationwide Life as at such date and the results of its operations for
the period then ended. 
  
 (c) In
the case of NFS, the December 31, 2004 consolidated financial statements of NFS and its Subsidiaries heretofore delivered to the Lenders were prepared in accordance with Agreement Accounting Principles, and such statements were prepared and fairly
present the consolidated financial condition and operations of NFS and its Subsidiaries at such date and the consolidated results of their operations for the period then ended. 
  
 
5.5 Material Adverse Change. Since December 31, 2004, there has been no change in the business, Property, prospects, condition (financial or otherwise) or results of operations of such Borrower and its
Subsidiaries which could reasonably be expected to have a Material Adverse Effect. 
  

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5.6 Taxes. Such Borrower and its Subsidiaries have filed all United States federal tax returns and all other material tax returns which are required to be filed and have paid all taxes due pursuant to said
returns or pursuant to any assessment received by such Borrower or any of its Subsidiaries, except such taxes, if any, as are being contested in good faith and as to which adequate reserves have been provided in accordance with Agreement Accounting
Principles or SAP, as applicable, and as to which no Lien exists; provided, that for the purposes of determining compliance with this sentence, all representations and warranties made with respect to AMH and its Subsidiaries shall be made
only with respect to returns filed and taxes paid from and after the consummation of the AMH Acquisition. The United States income tax returns of such Borrower and its Subsidiaries (other than AMH) have been audited by the Internal Revenue Service
through the fiscal year ended December 31, 1999. No tax Liens have been filed and no material claims are being asserted with respect to any such taxes. The charges, accruals and reserves on the books of such Borrower and its Material Subsidiaries in
respect of any taxes or other governmental charges are adequate; provided, that for the purposes of determining compliance with this sentence, all representations and warranties made with respect to AMH and its Subsidiaries shall be made only
with respect to Liens filed and claims asserted from and after the consummation of the AMH Acquisition. For the purpose of this Section 5.6, each reference to a Borrower shall be deemed to include a reference to all predecessor entities
thereto. In the case of Nationwide Mutual, (a) for all periods ending on or prior to the consummation of the AMH Acquisition, AMH and each of its Subsidiaries paid all taxes due pursuant to said returns or pursuant to any assessment received by it,
except such taxes, if any, the nonpayment of which could not reasonably be expected to have a Material Adverse Effect and such taxes, if any, as are being contested in good faith and as to which adequate reserves have been provided in accordance
with generally accepted accounting principles as in effect in the United Kingdom (“U.K. GAAP”), and as to which no Lien exists, (b) to the best of Nationwide Mutual’s knowledge, for all periods ending on or prior to the
consummation of the AMH Acquisition, AMH and its Subsidiaries filed all federal tax returns and all other material tax returns required to be filed by it, and (c) to the best of Nationwide Mutual’s knowledge, for all periods ending on or prior
to the consummation of the AMH Acquisition, the charges, accruals and reserves on the books of AMH and its Material Subsidiaries in respect of any taxes or other governmental charges were adequate under U.K. GAAP. 
  
 
5.7 Litigation and Contingent Obligations. There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or
affecting such Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect on such Borrower or which seeks to prevent, enjoin or delay the making of any Loans. Other than any liability incident to any
litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, neither such Borrower nor any of its Subsidiaries has any material contingent obligations not provided for or disclosed in the financial
statements referred to in Section 5.4. 
  
 
5.8 Subsidiaries. Schedule 5.8 contains an accurate list of all Subsidiaries of such Borrower as of December 31, 2004, setting forth the percentage of their respective capital stock or other ownership
interests owned by such Borrower or other Subsidiaries of such Borrower. All of the issued and outstanding shares of capital stock or other ownership interests of such Subsidiaries have been (to the extent such concepts are relevant with respect to
such ownership interests) duly authorized and issued and are fully paid and non-assessable. 
  

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5.9 ERISA. No Single Employer Plan has an Unfunded Liability. Neither such Borrower nor any other member of the Controlled Group has incurred, or is reasonably expected to incur, any withdrawal liability to
Multiemployer Plans. Each Plan complies in all material respects with all applicable requirements of law and regulations, no Reportable Event has occurred with respect to any Plan. Neither such Borrower nor any other member of the Controlled Group
has (i) withdrawn from any Plan or initiated steps to do so, or (ii) taken any steps to reorganize or terminate any Plan; provided, that if any such action has been taken, it could not reasonably be expected to result in liability to the
Borrower or any Subsidiary which would have a Material Adverse Effect. 
  
 
5.10 Accuracy of Information. No information, exhibit or report furnished by such Borrower or any of its Subsidiaries to the Agent or to any Lender in connection with the negotiation of, or compliance with, the
Loan Documents contained any material misstatement of fact or omitted to state a material fact or any fact necessary to make the statements contained therein not misleading. 
  
 
5.11 Regulation U. Margin stock (as defined in Regulation U) constitutes less than 25% of the value of those assets of such Borrower and its Subsidiaries which are subject to any limitation on sale, pledge, or
other restriction hereunder. 
  
 
5.12 Material Agreements. Neither such Borrower nor any Material Subsidiary of such Borrower is a party to any agreement or instrument or subject to any charter or other corporate restriction which could
reasonably be expected to have a Material Adverse Effect. Neither such Borrower nor any Material Subsidiary of such Borrower is in default (beyond any applicable grace or notice period with respect thereto, if any) in the performance, observance or
fulfillment of (a) any of the obligations, covenants or conditions contained in any agreement to which it is a party, which default could reasonably be expected to have a Material Adverse Effect or (b) any monetary obligation under any agreement or
instrument evidencing or governing Indebtedness. 
  
 
5.13 Compliance With Laws. Such Borrower and its Subsidiaries have complied with all applicable statutes, rules, regulations, orders and restrictions of any domestic or foreign government or any instrumentality
or agency thereof having jurisdiction over the conduct of their respective businesses or the ownership of their respective Property except for any failure to comply with any of the foregoing which could not reasonably be expected to have a Material
Adverse Effect. 
  
 
5.14 Plan Assets; Prohibited Transactions. With respect to Nationwide Mutual and NFS, such Borrower is not an entity deemed to hold “plan assets” within the meaning of 29 C.F.R. §2510.3-101 of an
employee benefit plan (as defined in Section 3(3) of ERISA) which is subject to Title I of ERISA or any plan within the meaning of Section 4975 of the Code. With respect to Nationwide Life, such Borrower is not, as a result of the significant
participation test found in 29 C.F.R. §2510.3-101(a)(2)(ii) and (f), an entity deemed to hold “plan assets” of any employee benefit plan (as defined in Section 3(3) of ERISA) which is subject to Title I of ERISA or any plan within the
meaning of Section 4975 of the Code, because less than 25% of the value of any class or type of its equity interests is, or could be deemed to be, held by benefit plan investors, as defined in 29 C.F.R. §2510.3-101(f)(2). To the knowledge of
the Borrower, neither the execution of this Agreement nor the making of Loans hereunder gives rise to a prohibited 
  

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 transaction, within the meaning of Section 406(a) of ERISA or Section 4975 of the Code, that is not the
subject of a prohibited transaction class exemption, all of the conditions of which are satisfied by the Borrower. 
  
 
5.15 Environmental Matters. In the ordinary course of its business, the officers of such Borrower consider the effect of Environmental Laws on the business of such Borrower and its Subsidiaries, in the course
of which they identify and evaluate potential risks and liabilities accruing to such Borrower due to Environmental Laws. On the basis of this consideration, such Borrower has concluded that Environmental Laws cannot reasonably be expected to have a
Material Adverse Effect. Neither such Borrower nor any Subsidiary of such Borrower has received any notice to the effect that its operations are not in material compliance with any of the requirements of applicable Environmental Laws or are the
subject of any federal or state investigation evaluating whether any remedial action is needed to respond to a release of any toxic or hazardous waste or substance into the environment, which non-compliance or remedial action could reasonably be
expected to have a Material Adverse Effect on such Borrower. 
  
 
5.16 Investment Company Act. Such Borrower is not an “investment company” or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of
1940, as amended. 
  
 
5.17 Public Utility Holding Company Act. Neither such Borrower nor any Subsidiary of such Borrower is a “holding company” or a “subsidiary company” of a “holding company”, or an
“affiliate” of a “holding company” or of a “subsidiary company” of a “holding company”, within the meaning of the Public Utility Holding Company Act of 1935, as amended. 
  
 
5.18 Defaults. No Default or Unmatured Default has occurred and is continuing. 
  
 
5.19 Insurance Licenses. No License of such Borrower (in the case of Nationwide Mutual and Nationwide Life) or any Material Insurance Subsidiary of such Borrower, the loss of which could reasonably be expected
to have a Material Adverse Effect, is the subject of a proceeding for suspension or revocation. To such Borrower’s knowledge, there is no sustainable basis for such suspension or revocation, and no such suspension or revocation has been
threatened by any Governmental Authority. 
  
 
ARTICLE VI 
  
 COVENANTS 
  
 Until the
Commitments have expired or been terminated and the principal of and interest on each Advance and all fees payable hereunder shall have been paid in full, unless the Required Lenders shall otherwise consent in writing, each Borrower covenants and
agrees that: 
  
 
6.1 Financial Reporting. Such Borrower will maintain, for itself and each Subsidiary of such Borrower, a system of accounting established and administered in accordance with Agreement Accounting Principles or
SAP, as applicable, and furnish to the Lenders: 
  

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 (a) In the case of NFS, within 100 days after the close of each of its
fiscal years, an unqualified audit report on Form 10K as filed with the Securities and Exchange Commission, certified by independent certified public accountants acceptable to the Lenders and prepared in accordance with Agreement Accounting
Principles on a consolidated basis for itself and its Subsidiaries, including balance sheets as of the end of such period and related statements of income, shareholders’ equity and cash flows, accompanied by any internal control letter prepared
by said accountants. 
  
 (b) In
the case of NFS, within 60 days after the close of the first three quarterly periods of each of its fiscal years, for itself and its Subsidiaries, consolidated unaudited balance sheets as at the close of each such period and consolidated statements
of income, shareholders’ equity and cash flows for the period from the beginning of such fiscal year to the end of such quarter, all certified by its chief financial officer. 
  
 (c) (i) In the case of each of Nationwide Mutual and Nationwide Life, upon the earlier of
(A) thirty (30) days after the regulatory filing date or (B) one hundred (100) days after the close of each fiscal year of such Borrower, copies of the unaudited Annual Statement of such Borrower, certified by the chief financial officer or the
treasurer of such Borrower, all such statements to be prepared in accordance with SAP consistently applied throughout the periods reflected therein and (ii) in the case of Nationwide Life, no later than each June 15, copies of such Annual Statement
audited and certified by independent certified public accountants of recognized national statement. 
  
 (d) In the case of Nationwide Mutual, (i) within thirty (30) days after the regulatory filing date, copies of the
unaudited Combined Annual Statement of Nationwide Mutual, certified by the chief financial officer or the treasurer of Nationwide Mutual, all such statements to be prepared in accordance with SAP consistently applied throughout the periods reflected
therein and (ii) no later than each June 15, copies of such Combined Annual Statement audited and certified by independent certified public accountants of recognized national statement. 
  
 (e) In the case of Nationwide Mutual and Nationwide Life, upon the earlier of (i) thirty
(30) days after the regulatory filing date or (ii) sixty (60) days after the close of each of the first three (3) fiscal quarters of each fiscal year of Nationwide Mutual and Nationwide Life, copies of the unaudited Quarterly Statement of such
Borrower, certified by the chief financial officer or treasurer of such Borrower, all such statements to be prepared in accordance with SAP consistently applied through the period reflected therein. 
  
 (f) Together with the financial statements
required under Sections 6.1(a), (b), (c) and (e), a compliance certificate in substantially the form of Exhibit B signed by its chief financial officer or treasurer showing the calculations necessary to determine
compliance with this Agreement and stating that no Default or Unmatured Default exists, or if any Default or Unmatured Default exists, stating the nature and status thereof. 
  

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 (g) Promptly and in any event within ten (10) days after learning
thereof, notification of any changes after the Closing Date in the rating given by Moody’s, S&P or A.M. Best & Co. in respect of any Borrower. 
  
 (h) Within five (5) Business Days after the receipt thereof by such Borrower, any written communication from the Insurance
Department of the State of Ohio (provided that such communication is directed to such Borrower specifically with respect to a particular inquiry and not to insurance companies generally) which asserts in any material respect that such Borrower has
an unsound financial condition; 
  
 (i) Within ten (10) days after the required annual filing with the PBGC, a statement of the Unfunded Liabilities of each Single Employer Plan, if any, certified as correct by an actuary enrolled under ERISA. 
  
 (j) As soon as possible and in any event
within 10 days after such Borrower knows that any Reportable Event has occurred with respect to any Plan, a statement, signed by the chief financial officer of such Borrower, describing said Reportable Event and the action which such Borrower
proposes to take with respect thereto. 
  
 (k) Promptly upon the furnishing thereof to the shareholders (in the case of NFS) or the policyholders (in the case of Nationwide Mutual), copies of all financial statements, reports and proxy statements so furnished. 
  
 (l) Promptly and in any event within ten
(10) days after learning thereof, notification of (i) any tax assessment, demand, notice of proposed deficiency or notice of deficiency received by such Borrower or any other Consolidated Person or (ii) the filing of any tax Lien or commencement of
any judicial proceeding by or against such Consolidated Person, if any such assessment, demand, notice, Lien or judicial proceeding (or all such assessments, demands, notices, Liens and judicial proceedings, in the aggregate) relates to tax
liabilities in excess of ten percent (10%) of (A) in the case of Nationwide Mutual and Nationwide Life, the Statutory Surplus (determined without reduction for any reserve for liabilities) of such Borrower or (B) in the case of NFS, the Consolidated
Tangible Net Worth (determined without reduction for any reserve for liabilities) of NFS. 
  
 (m) Such other information (including non-financial information) as the Agent or any Lender may from time to time
reasonably request. 
  
 
6.2 Use of Proceeds. Such Borrower will, and will cause each Subsidiary of such Borrower to, use the proceeds of the Advances for general corporate purposes (including commercial paper back-up). Such Borrower
will not, nor will it permit any Subsidiary of such Borrower to, use any of the proceeds of the Advances to purchase or carry any “margin stock” (as defined in Regulation U). 
  
 
6.3 Notice of Default. Such Borrower will, and will cause each of its Material Subsidiaries to, give prompt notice in writing to the Lenders of the occurrence of (a) any Default or Unmatured Default, (b) any
other development, financial or otherwise, relating specifically to such Borrower or any of its Material Subsidiaries (and not of a general economic or political 
  

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 nature) which could reasonably be expected to have a Material Adverse Effect on such Borrower, (c) their
receipt of any notice from any Governmental Authority of the expiration without renewal, revocation or suspension of, or the institution of any proceedings which could reasonably be expected to result in the revocation or suspension of, any material
License now or hereafter held by any Material Insurance Subsidiary of such Borrower which is required to conduct insurance business in compliance with all applicable laws and regulations and the expiration, revocation or suspension of which could
reasonably be expected to have a Material Adverse Effect, (d) their receipt of any notice from any Governmental Authority which could reasonably be expected to result in disciplinary proceedings against or in respect of any Material Insurance
Subsidiary, or the issuance of any order, the taking of any action or any request for an extraordinary audit for cause by any Governmental Authority which, if adversely determined, could reasonably be expected to have a Material Adverse Effect, (e)
any material judicial or administrative order of which they are aware limiting or controlling the insurance business of such Borrower (in the case of Nationwide Mutual and Nationwide Life) or any Material Insurance Subsidiary of such Borrower (and
not the insurance industry generally) which has been issued or adopted and which could reasonably be expected to create a Material Adverse Effect or (f) the commencement of any litigation of which they are aware which could reasonably be expected to
create a Material Adverse Effect. 
  
 
6.4 Conduct of Business. Such Borrower will, and will cause each of its Material Subsidiaries to, (a) carry on and conduct its business in substantially the same manner and in substantially the same fields of
enterprise as it is presently conducted, (b) do all things reasonably necessary to remain duly incorporated or organized, validly existing and (to the extent such concept applies to such entity) in good standing as a domestic corporation,
partnership or limited liability company in its jurisdiction of incorporation or organization, as the case may be, and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted except where the
failure to maintain such authority could not reasonably be expected to have a Material Adverse Effect, and (c) do all things necessary to renew, extend and continue in effect all Licenses which may at any time and from time to time be necessary for
such Borrower (in the case of Nationwide Mutual or Nationwide Life) or any Material Insurance Subsidiary of such Borrower to operate its insurance business in compliance with all applicable laws and regulations except for any License the loss of
which could not reasonably be expected to have a Material Adverse Effect; provided such Borrower (in the case of Nationwide Mutual or Nationwide Life) or any Material Insurance Subsidiary of such Borrower may withdraw from one or more states
(other than its state of domicile) as an admitted insurer if such withdrawal is determined by such Borrower’s senior management to be in the best interest of such Borrower and could not reasonably be expected to have a Material Adverse Effect;
provided, further, that nothing provided in this Section 6.4 shall prohibit any consolidation, merger, sale, lease or other transfer permitted under Section 6.10. Such Borrower shall not change its state of domicile or
incorporation without the prior written consent of the Required Lenders, which consent shall not be unreasonably withheld or delayed. 
  
 
6.5 Taxes. Such Borrower will, and will cause each of its Subsidiaries to, timely file complete and correct United States federal and applicable foreign, state and local tax returns required by law and pay when
due all taxes, assessments and governmental charges and levies upon it or its income, profits or Property, except those which are being contested in good faith by 
  

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 appropriate proceedings and with respect to which adequate reserves have been set aside in accordance
with Agreement Accounting Principles or SAP, as applicable. 
  
 
6.6 Insurance. Such Borrower will, and will cause each of its Subsidiaries to, maintain with financially sound and reputable insurance companies insurance on all their Property in such amounts and covering such
risks as is consistent with sound business practice, and such Borrower will furnish to any Lender upon request full information as to the insurance carried; provided, that such Borrower and its Subsidiaries may self-insure such risks to the
extent it deems it prudent to do so. 
  
 
6.7 Compliance with Laws. Such Borrower will, and will cause each of its Subsidiaries to, comply with all laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be
subject including, without limitation, all Environmental Laws, the noncompliance with which could reasonably be expected to have a Material Adverse Effect. 
  
 
6.8 Maintenance of Properties. Such Borrower will, and will cause each of its Subsidiaries to, do all things necessary to maintain, preserve, protect and keep its Property in good repair, working order and
condition, and make all necessary and proper repairs, renewals and replacements so that its business carried on in connection therewith may be properly conducted at all times; provided, however, that nothing herein contained shall
prevent such Borrower and its Subsidiaries from discontinuing the operation and maintenance of any of its Property if such discontinuance is desirable in the conduct of its business and such Borrower or such Subsidiary has concluded that such
discontinuance could not individually or in the aggregate reasonably be expected to have a Material Adverse Effect. 
  
 
6.9 Inspection. Such Borrower will, and will cause each of its Subsidiaries to, permit the Agent and each of the Lenders, by their respective representatives and agents, to inspect any of the Property, books
and financial records of such Borrower and each of its Subsidiaries, to examine and make copies of the books of accounts and other financial records of such Borrower and each of its Subsidiaries, and to discuss the affairs, finances and accounts of
such Borrower and each of its Subsidiaries with, and to be advised as to the same by, their respective officers at such reasonable times and intervals as the Agent or any Lender may designate. Such Borrower will keep or cause to be kept, and cause
each of its Subsidiaries to keep or cause to be kept, appropriate records and books of account in which complete entries are to be made reflecting its and their business and financial transactions, such entries to be made in accordance with
Agreement Accounting Principles or SAP, as applicable, consistently applied. 
  
 
6.10 Merger. Such Borrower will not merge or consolidate with or into any other Person, except that such Borrower may merge with another Person if (a) such Borrower is the corporation surviving the merger and
(b) after giving effect to such merger, no Unmatured Default or Default shall have occurred and be continuing. 
  
 
6.11 Sale of Assets. Such Borrower will not, directly or indirectly through one of its Subsidiaries, lease, sell or otherwise dispose of all or any substantial part of the Property of such Borrower and its
Subsidiaries, taken as a whole, to any other Person. 
  

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6.12 Liens. Such Borrower will not, nor will it permit any Subsidiary to, create, incur, or suffer to exist any Lien in, of or on the Property of such Borrower or any of its Subsidiaries, except: 
  
 (a) Liens existing on the date hereof and
described on Schedule 6.12; 
  
 (b) any Lien on any Property securing Indebtedness incurred or assumed for the purpose of financing all or any part of the cost of acquiring such Property; provided, that such Lien (i) applies only to such acquired Property and (ii)
attaches to such Property concurrently with or within 90 days after the acquisition thereof; 
  
 (c) any Lien on any Property of any Person existing at the time such Person is merged or consolidated with or into such
Borrower or its Subsidiary; provided that such Lien (i) applies only to such acquired Property and (ii) is not created in contemplation of such merger or consolidation; 
  
 (d) any Lien existing on any Property prior to the acquisition thereof by such Borrower or
its Subsidiary; provided, that such Lien (i) applies only to such acquired Property and (ii) is not created in contemplation of such acquisition; 
  
 (e) any Lien arising out of the refinancing, extension, renewal or refunding of any Indebtedness secured by any Lien
permitted by any of the foregoing clauses of this Section 6.12; provided, that such Indebtedness is not increased and is not secured by additional Property; 
  
 (f) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’
liens and other similar Liens arising in the ordinary course of business which secure payment of obligations not more than 60 days past due; 
  
 (g) Liens arising in the ordinary course of business which (i) do not secure Indebtedness, (ii) do not secure any
obligation in an amount exceeding $25,000,000 and (iii) do not in the aggregate materially detract from the value of its assets or materially impair the use thereof in the operation of its business; 
  
 (h) Liens on cash and cash equivalents
securing Rate Management Obligations which are incurred for bona fide hedging purposes or replication purposes and not for speculation; 
  
 (i) Liens (i) arising from judicial attachments and judgments, (ii) securing appeal bonds or supersedeas bonds, and (iii)
arising in connection with court proceedings (including, without limitation, surety bonds and letters of credit or any other instrument serving a similar purpose); provided, that (A) the execution or other enforcement of such Liens is
effectively stayed, (B) the claims secured thereby are being actively contested in good faith and by appropriate proceedings, and (C) adequate book reserves shall have been established and maintained and shall exist with respect thereto; 

 
 (j) Liens in the nature of reservations,
exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases and other similar title exceptions 
  

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 or encumbrances affecting real Property; provided, that such exceptions and
encumbrances do not in the aggregate materially detract from the value of such Property or materially interfere with the use of such Property in the ordinary conduct of the business of such Borrower and its Subsidiaries, taken as a whole;

  
 (k) Liens on Property of a
Subsidiary of such Borrower (other than a Subsidiary which is a Borrower); provided, that such Liens secure only obligations owing to such Borrower; 
  
 (l) in the case of Nationwide Mutual, Liens on securities owned by Nationwide Mutual securing its obligations under one or
more prepaid equity forward contracts; 
  
 (m) in the case of Nationwide Mutual and Nationwide Life, Liens on securities, cash and cash equivalents granted in connection with securities lending activities or securities repurchase or reverse-repurchase activities of such Borrower and
its Subsidiaries in the ordinary course of business in compliance with all applicable laws; provided, that the aggregate amount of securities, cash and cash equivalents subject to such Liens may at no time exceed 5% of such Borrower’s
Statutory Surplus; 
  
 (n) Liens
consisting of deposits made by such Borrower (in the case of Nationwide Mutual and Nationwide Life) on behalf of itself or any Insurance Subsidiary or by any Insurance Subsidiary of such Borrower with the insurance regulatory authority in its
jurisdiction of formation or other statutory Liens or Liens or claims imposed or required by applicable insurance law or regulation against the assets of such Borrower or any Insurance Subsidiary of such Borrower, in each case in favor of
policyholders of such Borrower or such Insurance Subsidiary and granted in the ordinary course of such Borrower’s or such Insurance Subsidiary’s business; 
  
 (o) Liens granted by Nationwide Realty Investors, Ltd. and its Subsidiaries on real property
owned thereby and the improvements thereon in connection with the development or operation of such real property and improvements; 
  
 (p) Liens granted on assets of Subsidiaries of such Borrower (other than a Subsidiary which is a Borrower) securing
indebtedness of such Person incurred in connection with the sale or issuance of Structured Finance Securities, provided that no Borrower or Subsidiary has any recourse obligations with respect thereto; 
  
 (q) in the case of Nationwide Life, Liens
securing Rate Management Obligations of Nationwide Life incurred in connection with funding agreements issued by Nationwide Life to support its Medium Term Note Program; 
  
 (r) Liens on mortgage loans and foreclosure receivables securing indebtedness of a Borrower
or its Subsidiaries under a warehousing credit facility in an aggregate principal or face amount at any date not to exceed $150,000,000; 
  

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 (s) Liens created in connection with Capitalized Lease Obligations;
provided, that the principal amount of the Indebtedness secured by any and all such Liens shall not at any time exceed $200,000,000; 
  
 (t) Liens granted by Subsidiaries of such Borrower, which Subsidiaries are hedge funds or mutual funds, provided that no
Borrower or Subsidiary has any recourse obligations with respect thereto; and 
  
 (u) Liens not otherwise permitted by the foregoing clauses of this Section 6.12 securing Indebtedness in an aggregate principal or face amount at any date not to exceed (i) in the case of
Nationwide Mutual and Nationwide Life, 5% of such Borrower’s Statutory Surplus and (ii) in the case of NFS, 5% of the Consolidated Tangible Net Worth of NFS. 
  
 Notwithstanding anything to the contrary in this Section 6.12, in no event shall Nationwide Mutual or its
Subsidiaries create, incur or suffer to exist any Lien on the stock of NFS, and in no event shall NFS create, incur or suffer to exist any Lien on the stock of Nationwide Life. 
  
 
6.13 Affiliates. The Borrower will not, and will not permit any Subsidiary to, enter into any transaction (including, without limitation, the purchase or sale of any Property or service) with, or make any
payment or transfer to, any Affiliate except in the ordinary course of business and pursuant to the reasonable requirements of the Borrower’s or such Subsidiary’s business and upon fair and reasonable terms no less favorable to the
Borrower or such Subsidiary than the Borrower or such Subsidiary would obtain in a comparable arms-length transaction; provided, that the foregoing provisions of this Section 6.13 shall not prohibit any such Person from declaring or
paying any lawful dividend or other payment ratably in respect of all of its capital stock of the relevant class so long as, after giving effect thereto, no Default in respect of such Borrower shall have occurred and be continuing. 
  
 
6.14 ERISA Compliance. With respect to any Plan, neither such Borrower nor any of its Subsidiaries shall or shall permit any other member of the Controlled Group to: 
  
 (a) engage in any “prohibited
transaction” (as such term is defined in Section 406 of ERISA or Section 4975 of the Code) for which a civil penalty pursuant to Section 502(i) of ERISA or a tax pursuant to Section 4975 of the Code in excess of $5,000,000 for all Plans in the
aggregate (less amounts determined pursuant to clauses (b), (c) and (d)) could reasonably be expected to be imposed; 
  
 (b) permit an “accumulated funding deficiency” (as such term is defined in Section 302 of ERISA) in excess of
$5,000,000 for all Plans in the aggregate (less amounts determined pursuant to clauses (a), (c) and (d)) to be incurred whether or not waived, or permit any Unfunded Liability which could reasonably be expected to have a Material Adverse Effect;

  
 (c) permit the occurrence of
any Reportable Event which could reasonably be expected to result in liability (i) to the Borrower or any Subsidiary in excess of $5,000,000 for all Plans in the aggregate (less amounts determined pursuant to clauses 
  

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 (a), (b) and (d)) or (ii) to any other member of the Controlled Group in an amount which
could reasonably be expected to have a Material Adverse Effect; 
  
 (d) fail to make any contribution or payment to any Multiemployer Plan which any member of the Controlled Group may be required to make under any agreement relating to such Multiemployer Plan or
any law pertaining thereto which results in or could result in a liability (i) of the Borrower or any Subsidiary in excess of $5,000,000 for all Plans in the aggregate (less amounts determined pursuant to clauses (a), (b) and (c)) or (ii) of any
other member of the Controlled Group which could reasonably be expected to have a Material Adverse Effect; or 
  
 (e) permit the establishment or amendment of any Plan or cause or permit any Plan to fail to comply with the applicable
provisions of ERISA and the Code, which establishment, amendment or failure could reasonably be expected to result in liability to any member of the Controlled Group which individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect. 
  
 
6.15 Financial Covenants. 
  
 6.15.1 Statutory Surplus of Nationwide Mutual. Nationwide Mutual will not permit its Statutory Surplus, determined as at the end of each fiscal quarter of Nationwide Mutual, to be less
than 70% of its Statutory Surplus as of December 31, 2004. 
  
 6.15.2 Statutory Surplus of Nationwide Life. Nationwide Life will not permit its Statutory Surplus, determined as at the end of each fiscal quarter of Nationwide Life, to be less than 70% of its Statutory
Surplus as of December 31, 2004 at any time. 
  
 6.15.3 Consolidated Tangible Net Worth of NFS. NFS will not permit its Consolidated Tangible Net Worth, determined as at the end of each fiscal quarter of NFS, to be less than 70% of its Consolidated Tangible
Net Worth as of December 31, 2004 at any time. 
  
 6.15.4 Leverage Ratio of Nationwide Mutual. Nationwide Mutual will not permit the ratio, determined as of the end of each fiscal quarter of Nationwide Mutual, of (a) Indebtedness of Nationwide Mutual to (b)
Total Capitalization of Nationwide Mutual, to be greater than 0.35 to 1.0. 
  
 6.15.5 Leverage Ratio of NFS. NFS will not permit the ratio, determined as of the end of each fiscal quarter of NFS, of (a) Indebtedness of NFS and its Subsidiaries calculated on a
consolidated basis as of such time to (b) Total Capitalization of NFS, to be greater than 0.40 to 1.0. 
  

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ARTICLE VII 
  
 DEFAULTS 
  
 The occurrence
of any one or more of the following events with respect to any Borrower shall constitute a Default with respect to such Borrower: 
  
 
7.1 Representation or Warranty. Any representation or warranty made or deemed made by or on behalf of such Borrower or any of its Subsidiaries to the Lenders or the Agent under or in connection with this
Agreement, any Loan, or any certificate or information delivered by or on behalf of such Borrower or any of its Subsidiaries in connection with this Agreement or any other Loan Document shall be materially false on the date as of which made.

  
 
7.2 Non-Payment of Obligations. Nonpayment of principal of any Loan made to such Borrower when due, or nonpayment of interest upon any Loan made to such Borrower or of any Facility Fee or Utilization Fee or
other obligations of such Borrower under any of the Loan Documents within five days after the same becomes due. 
  
 
7.3 Specific Defaults. The breach by such Borrower of any of the terms or provisions of Section 6.2, 6.10, 6.11, 6.12, 6.14 or 6.15. 
  
 
7.4 Other Defaults. The breach by such Borrower (other than a breach which constitutes a Default under another Section of this Article VII) of any of the terms or provisions of this Agreement which is
not remedied within twenty (20) days after written notice from the Agent or any Lender. 
  
 
7.5 Cross-Default. Failure of such Borrower or any of its Material Affiliates to pay when due any Indebtedness aggregating in excess of $25,000,000 (“Material Indebtedness”); or the default by
such Borrower or any of its Material Affiliates in the performance (beyond the applicable grace period with respect thereto, if any) of any term, provision or condition contained in any agreement under which any such Material Indebtedness was
created or is governed, or any other event shall occur or condition exist, the effect of which default or event is to cause, or to permit the holder or holders of such Material Indebtedness to cause, such Material Indebtedness to become due prior to
its stated maturity; or any Material Indebtedness of such Borrower or any of its Material Affiliates shall be declared to be due and payable or required to be prepaid or repurchased (other than by a regularly scheduled payment) prior to the stated
maturity thereof; or such Borrower or any of its Material Affiliates shall not pay, or admit in writing its inability to pay, its debts generally as they become due. 
  
 
7.6 Voluntary Proceedings. Such Borrower or any of its Material Affiliates shall (a) have an order for relief entered with respect to it under the Federal bankruptcy or state insurance insolvency laws as now or
hereafter in effect, (b) make an assignment for the benefit of creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion
of its Property, (d) institute any proceeding seeking an order for relief under the Federal bankruptcy or state insurance insolvency laws as now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution,
winding up, liquidation, reorganization, 
  

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 arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy,
insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership action to authorize or effect any of the
foregoing actions set forth in this Section 7.6 or (f) fail to contest in good faith any appointment or proceeding described in Section 7.7. 
  
 
7.7 Involuntary Proceedings. Without the application, approval or consent of such Borrower or any of its Material Affiliates, a receiver, trustee, examiner, liquidator or similar official shall be appointed for
such Borrower or any of its Material Affiliates or any Substantial Portion of its Property, or a proceeding described in Section 7.6(d) shall be instituted against such Borrower or any of its Material Affiliates and such appointment continues
undischarged or such proceeding continues undismissed or unstayed for a period of 60 consecutive days. 
  
 
7.8 Condemnation. Any court, government or governmental agency shall condemn, seize or otherwise appropriate, or take custody or control of, all or any portion of the Property of such Borrower and its Material
Affiliates which, when taken together with all other Property of such Borrower and its Material Affiliates so condemned, seized, appropriated, or taken custody or control of, during the twelve-month period ending with the month in which any such
action occurs, constitutes a Substantial Portion. 
  
 
7.9 Judgments. Such Borrower or any of its Material Affiliates shall fail within 30 days to pay, bond or otherwise discharge one or more (a) judgments or orders for the payment of money in excess of $25,000,000
(or the equivalent thereof in currencies other than U.S. Dollars) in the aggregate, or (b) nonmonetary judgments or orders which, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect, which judgment(s), in
any such case, is/are not stayed on appeal or otherwise being appropriately contested in good faith. 
  
 
7.10 Change in Control. Any Change in Control shall occur. 
  
 
7.11 Rate Management Obligation. Nonpayment by such Borrower or any of its Subsidiaries of any Rate Management Obligation in respect of any Rate Management Transaction entered into between such Borrower or any
of its Subsidiaries and any Lender or Affiliate thereof with respect to the Obligations under this Agreement when due or the breach by such Borrower or any of its Subsidiaries of any material term, provision or condition contained in any Rate
Management Transaction entered into with respect to the Obligations under this Agreement. 
  
 
7.12 License. Any License of such Borrower (in the case of Nationwide Mutual and Nationwide Life) or any Material Insurance Subsidiary of such Borrower in a material jurisdiction of such Person (a) shall be
revoked by the Governmental Authority which issued such License, or any action (administrative or judicial) which could reasonably be expected to result in the revocation of such License shall have been commenced against such Borrower or any such
Material Insurance Subsidiary and shall not have been dismissed within thirty (30) days after the commencement thereof, (b) shall be suspended by such Governmental Authority for a period in excess of thirty (30) days or (c) shall not be reissued or
renewed by such Governmental Authority upon the expiration thereof following application for such reissuance or renewal of such Borrower or such Material Insurance Subsidiary. For the purposes of this Section 7.12, 
  

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 “material jurisdiction” shall mean a jurisdiction in which such Borrower or Material Insurance
Subsidiary generates 10% or more of its total premiums. 
  
 
7.13 Violation of Insurance Laws. Such Borrower (in the case of Nationwide Mutual and Nationwide Life) or any Material Insurance Subsidiary of such Borrower shall be the subject of a final non-appealable order
imposing a fine in an amount in excess of $5,000,000 in any single instance or other such orders imposing fines in excess of $10,000,000 in the aggregate after the Closing Date by or at the request of any state insurance regulatory agency as a
result of the violation by such Borrower or such Material Insurance Subsidiary of such state’s applicable insurance laws or the regulations promulgated in connection therewith. 
  
 
7.14 Directive or Mandate. Such Borrower (in the case of Nationwide Mutual and Nationwide Life) or any Material Insurance Subsidiary shall become subject to any conservation, rehabilitation or liquidation order
(which, in the case of any Material Insurance Subsidiary, is not stayed within ten (10) days), directive or mandate issued by any Governmental Authority or such Borrower (in the case of Nationwide Mutual and Nationwide Life) or any Material
Insurance Subsidiary shall become subject to any other directive or mandate issued by any Governmental Authority which could reasonably be expected to have a Material Adverse Effect. 
  
 
7.15 Cross-Default With Respect to Other Borrowers. The occurrence of a Default under Section 7.2, 7.6 or 7.7 with respect to any other Borrower. 
  
 
ARTICLE VIII 
  
 ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES 
  
 
8.1 Acceleration. If any Default described in Section 7.6 or 7.7 occurs with respect to any Borrower, the obligations of the Lenders to make Loans hereunder shall automatically terminate and the
Obligations shall immediately become due and payable without any election or action on the part of the Agent or any Lender. If any other Default occurs, the Required Lenders (or the Agent with the consent of the Required Lenders) may terminate or
suspend the obligations of the Lenders to make Loans to such Borrower hereunder, or declare the Obligations of such Borrower to be due and payable, or both, whereupon the Obligations of such Borrower shall become immediately due and payable, without
presentment, demand, protest or notice of any kind, all of which each Borrower hereby expressly waives. 
  
 If, within 30 days after acceleration of the maturity of any or all of the Obligations or termination of the obligations of the Lenders to
make Loans to one or more of the Borrowers hereunder as a result of any Default (other than any Default as described in Section 7.6 or 7.7 with respect to any Borrower) and before any judgment or decree for the payment of the
Obligations due shall have been obtained or entered, the Required Lenders (in their sole discretion) shall so direct, the Agent shall, by notice to the affected Borrower or Borrowers, rescind and annul such acceleration and/or termination.

  
 
8.2 Amendments. Subject to the provisions of this Article VIII, the Required Lenders (or the Agent with the consent in writing of the Required Lenders) and the Borrowers may enter into agreements
supplemental hereto for the purpose of adding or modifying any provisions to 
  

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 the Loan Documents or changing in any manner the rights of the Lenders or the Borrowers hereunder or
waiving any Default hereunder; provided, however, that no such supplemental agreement shall, without the consent of all of the Lenders: 
  
 (a) Extend the final maturity of any Loan or forgive all or any portion of the principal amount thereof, or reduce the
rate or extend the time of payment of interest or fees thereon. 
  
 (b) Reduce the percentage specified in the definition of Required Lenders. 
  
 (c) Extend the Facility Termination Date, or reduce the amount or extend the payment date for, the mandatory payments
required under Section 2.1.4, or increase the amount of the Commitment of any Lender hereunder, or permit the Borrowers to assign their rights under this Agreement. 
  
 (d) Amend this Section 8.2. 
  
 No amendment of any provision of this Agreement relating to the Agent shall
be effective without the written consent of the Agent. The Agent may waive payment of the fee required under Section 12.3.2 without obtaining the consent of any other party to this Agreement. 
  
 
8.3 Preservation of Rights. No delay or omission of the Lenders or the Agent to exercise any right under the Loan Documents shall impair such right or be construed to be a waiver of any Default or an
acquiescence therein, and the making of a Loan to any Borrower notwithstanding the existence of a Default with respect to such Borrower or the inability of such Borrower to satisfy the conditions precedent to such Loan shall not constitute any
waiver or acquiescence. Any single or partial exercise of any such right shall not preclude other or further exercise thereof or the exercise of any other right, and no waiver, amendment or other variation of the terms, conditions or provisions of
the Loan Documents whatsoever shall be valid unless in writing signed by the Lenders required pursuant to Section 8.2, and then only to the extent in such writing specifically set forth. All remedies contained in the Loan Documents or by law
afforded shall be cumulative and all shall be available to the Agent and the Lenders until the Obligations have been paid in full. 
  
 
ARTICLE IX 
  
 GENERAL
PROVISIONS 
  
 
9.1 Survival of Representations. All representations and warranties of the Borrowers contained in this Agreement shall survive the making of the Loans herein contemplated. 
  
 
9.2 Governmental Regulation. Anything contained in this Agreement to the contrary notwithstanding, no Lender shall be obligated to extend credit to any Borrower in violation of any limitation or prohibition
provided by any applicable statute or regulation. 
  

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9.3 Headings. Section headings in the Loan Documents are for convenience of reference only, and shall not govern the interpretation of any of the provisions of the Loan Documents. 
  
 
9.4 Entire Agreement. The Loan Documents embody the entire agreement and understanding among the Borrowers, the Agent and the Lenders and supersede all prior agreements and understandings among the Borrowers,
the Agent and the Lenders relating to the subject matter thereof other than the fee letter described in Section 10.13. 
  
 
9.5 Several Obligations; Benefits of this Agreement. The respective obligations of the Lenders hereunder are several and not joint and no Lender shall be the partner or agent of any other (except to the extent
to which the Agent is authorized to act as such). The failure of any Lender to perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder. This Agreement shall not be construed so as to confer
any right or benefit upon any Person other than the parties to this Agreement and their respective successors and assigns, provided, however, that the parties hereto expressly agree that each Arranger shall enjoy the benefits of the
provisions of Sections 9.6, 9.10 and 10.11 to the extent specifically set forth therein and shall have the right to enforce such provisions on its own behalf and in its own name to the same extent as if it were a party to this
Agreement. 
  
 
9.6 Expenses; Indemnification. (a) Each Borrower jointly and severally agrees to reimburse the Agent and the Arrangers for any reasonable costs, internal charges and out-of-pocket expenses (including reasonable
attorneys’ fees and time charges of attorneys for the Agent, which attorneys may be employees of the Agent) paid or incurred by the Agent or the Arrangers in connection with the preparation, negotiation, execution, delivery, syndication,
review, amendment, modification, and administration of the Loan Documents. Each Borrower also jointly and severally agrees to reimburse the Agent, the Arrangers and the Lenders for any costs, internal charges and out-of-pocket expenses (including
attorneys’ fees and time charges of attorneys for the Agent, the Arrangers and the Lenders, which attorneys may be employees of the Agent, the Arrangers or the Lenders) paid or incurred by the Agent, the Arrangers or any Lender in connection
with the collection and enforcement of the Loan Documents. Expenses being reimbursed by the Borrowers under this Section include, without limitation, costs and expenses incurred in connection with the Reports described in the following sentence.
Each Borrower acknowledges that from time to time CUSA may prepare and may distribute to the Lenders (but shall have no obligation or duty to prepare or to distribute to the Lenders) certain audit reports (the “Reports”) pertaining
to such Borrower’s assets for internal use by CUSA from information furnished to it by or on behalf of such Borrower, after CUSA has exercised its rights of inspection pursuant to this Agreement. 
  
 (b) Each Borrower hereby further jointly and
severally agrees to indemnify the Agent, each Arranger, each Lender, their respective affiliates, and each of their directors, officers and employees against all losses, claims, damages, penalties, judgments, liabilities and expenses (including,
without limitation, all expenses of litigation or preparation therefor whether or not the Agent, any Arranger, any Lender or any affiliate is a party thereto) which any of them may pay or incur arising out of or relating to this Agreement, the other
Loan Documents, the transactions contemplated hereby or the direct or indirect application or proposed application of the proceeds of any 
  

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 Loan hereunder except to the extent that they are determined in a final non-appealable
judgment by a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the party seeking indemnification and except as provided in Section 3.5. The obligations of the Borrowers under this Section
9.6 shall survive the termination of this Agreement. 
  
 
9.7 Numbers of Documents. All statements, notices, closing documents, and requests hereunder shall be furnished to the Agent with sufficient counterparts so that the Agent may furnish one to each of the
Lenders. 
  
 
9.8 Accounting. Except as provided to the contrary herein, all accounting terms used herein shall be interpreted and all accounting determinations hereunder shall be made in accordance with Agreement Accounting
Principles. 
  
 
9.9 Severability of Provisions. Any provision in any Loan Document that is held to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or
invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other jurisdiction, and to this end the provisions of all Loan Documents are declared to be severable.

  
 
9.10 Nonliability of Lenders. The relationship between the Borrowers on the one hand and the Lenders and the Agent on the other hand shall be solely that of borrower and lender. Neither the Agent, any Arranger
nor any Lender shall have any fiduciary responsibilities to any Borrower. Neither the Agent, any Arranger nor any Lender undertakes any responsibility to any Borrower to review or inform such Borrower of any matter in connection with any phase of
such Borrower’s business or operations. Each Borrower agrees that neither the Agent, any Arranger nor any Lender shall have liability to such Borrower (whether sounding in tort, contract or otherwise) for losses suffered by the Borrower in
connection with, arising out of, or in any way related to, the transactions contemplated and the relationship established by the Loan Documents, or any act, omission or event occurring in connection therewith, unless it is determined in a final
non-appealable judgment by a court of competent jurisdiction that such losses resulted from the gross negligence or willful misconduct of the party from which recovery is sought. Neither the Agent, any Arranger nor any Lender shall have any
liability with respect to, and each Borrower hereby waives, releases and agrees not to sue for, any special, indirect or consequential damages suffered by such Borrower in connection with, arising out of, or in any way related to the Loan Documents
or the transactions contemplated thereby. 
  
 
9.11 Confidentiality. Each Lender agrees to hold any confidential information which it may receive from the Borrowers pursuant to this Agreement in confidence, except for disclosure (a) to its Affiliates and to
other Lenders and their respective Affiliates, provided that such Persons agree to keep such information confidential to the same extent required by the Lenders hereunder, (b) to legal counsel, accountants, and other professional advisors to such
Lender or to a Transferee, (c) to regulatory officials, (d) to any Person as requested pursuant to or as required by law, regulation, or legal process, (e) to any Person in connection with any legal proceeding to which such Lender is a party and is
legally required to disclose such information, (f) of public information such Lender receives from any Borrower to its direct or indirect contractual counterparties in swap agreements or to legal counsel, accountants and other professional

  

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 advisors to such counterparties, and (g) permitted by Section 12.4. Notwithstanding anything
herein to the contrary, confidential information shall not include, and each Lender (and each employee, representative or other agent of any Lender) may disclose to any and all Persons, without limitation of any kind, the “tax treatment”
and “tax structure” (in each case, within the meaning of Treasury Regulation Section 1.6011-4) of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are or have been provided
to such Lender relating to such tax treatment or tax structure; provided that with respect to any document or similar item that in either case contains information concerning such tax treatment or tax structure of the transactions
contemplated hereby as well as other information, this sentence shall only apply to such portions of the document or similar item that relate to such tax treatment or tax structure. 
  
 
9.12 Nonreliance. Each Lender hereby represents that it is not relying on or looking to any margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System) for the repayment of
the Loans provided for herein. 
  
 
9.13 Disclosure. Each Borrower and each Lender hereby acknowledge and agree that CUSA and/or its Affiliates from time to time may hold investments in, make other loans to or have other relationships with any
Borrower and its Affiliates. 
  
 
9.14 USA PATRIOT ACT NOTIFICATION. The following notification is provided to the Borrowers pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318: 
  
 IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help
the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account, including any
deposit account, treasury management account, loan, other extension of credit, or other financial services product. What this means for the Borrowers: When a Borrower opens an account, if such Borrower is an individual, the Agent and the Lenders
will ask for such Borrower’s name, residential address, tax identification number, date of birth, and other information that will allow the Agent and the Lenders to identify such Borrower, and, if such Borrower is not an individual, the Agent
and the Lenders will ask for such Borrower’s name, tax identification number, business address, and other information that will allow the Agent and the Lenders to identify such Borrower. The Agent and the Lenders may also ask, if such Borrower
is an individual, to see such Borrower’s driver’s license or other identifying documents, and, if such Borrower is not an individual, to see such Borrower’s legal organizational documents or other identifying documents. 
  
 
ARTICLE X 
  
 THE
AGENT 
  
 
10.1 Appointment; Nature of Relationship. CUSA is hereby appointed by each of the Lenders as its contractual representative (herein referred to as the “Agent”) hereunder and under each other
Loan Document, and each of the Lenders irrevocably authorizes the Agent to act as the contractual representative of such Lender with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such
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 upon the express conditions contained in this Article X. Notwithstanding the use of the defined
term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual
representative of the Lenders with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ contractual representative, the Agent (a) does not hereby assume any fiduciary
duties to any of the Lenders, (b) is a “representative” of the Lenders within the meaning of Section 9-105 of the Uniform Commercial Code and (c) is acting as an independent contractor, the rights and duties of which are limited to those
expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each
Lender hereby waives. 
  
 
10.2 Powers. The Agent shall have and may exercise such powers under the Loan Documents as are specifically delegated to the Agent by the terms of each thereof, together with such powers as are reasonably
incidental thereto. The Agent shall have no implied duties to the Lenders, or any obligation to the Lenders to take any action thereunder except any action specifically provided by the Loan Documents to be taken by the Agent. 
  
 
10.3 General Immunity. Neither the Agent nor any of its directors, officers, agents or employees shall be liable to the Borrowers, any Borrower, the Lenders or any Lender for any action taken or omitted to be
taken by it or them hereunder or under any other Loan Document or in connection herewith or therewith except to the extent such action or inaction is determined in a final non-appealable judgment by a court of competent jurisdiction to have arisen
from the gross negligence or willful misconduct of such Person. 
  
 
10.4 No Responsibility for Loans, Recitals, etc. Neither the Agent nor any of its directors, officers, agents or employees shall be responsible for or have any duty to ascertain, inquire into, or verify (a)
any statement, warranty or representation made in connection with any Loan Document or any borrowing hereunder; (b) the performance or observance of any of the covenants or agreements of any obligor under any Loan Document, including, without
limitation, any agreement by an obligor to furnish information directly to each Lender; (c) the satisfaction of any condition specified in Article IV, except receipt of items required to be delivered solely to the Agent; (d) the existence or
possible existence of any Default or Unmatured Default; (e) the validity, enforceability, effectiveness, sufficiency or genuineness of any Loan Document or any other instrument or writing furnished in connection therewith; (f) the value,
sufficiency, creation, perfection or priority of any Lien in any collateral security; or (g) the financial condition of any Borrower or any guarantor of any of the Obligations or of any Borrower’s or any such guarantor’s respective
Subsidiaries. The Agent shall have no duty to disclose to the Lenders information that is not required to be furnished by any Borrower to the Agent at such time, but is voluntarily furnished by any Borrower to the Agent (either in its capacity as
Agent or in its individual capacity). 
  
 
10.5 Action on Instructions of Lenders. The Agent shall in all cases be fully protected in acting, or in refraining from acting, hereunder and under any other Loan Document in accordance with written
instructions signed by the Required Lenders, and such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the Lenders. The 
  

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 Lenders hereby acknowledge that the Agent shall be under no duty to take any discretionary action
permitted to be taken by it pursuant to the provisions of this Agreement or any other Loan Document unless it shall be requested in writing to do so by the Required Lenders. The Agent shall be fully justified in failing or refusing to take any
action hereunder and under any other Loan Document unless it shall first be indemnified to its satisfaction by the Lenders pro rata against any and all liability, cost and expense that it may incur by reason of taking or continuing to take any such
action. 
  
 
10.6 Employment of Agents and Counsel. The Agent may execute any of its duties as Agent hereunder and under any other Loan Document by or through employees, agents, and attorneys-in-fact and shall not be
answerable to the Lenders, except as to money or securities received by it or its authorized agents, for the default or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care. The Agent shall be entitled to advice of
counsel concerning the contractual arrangement between the Agent and the Lenders and all matters pertaining to the Agent’s duties hereunder and under any other Loan Document. 
  
 
10.7 Reliance on Documents; Counsel. The Agent shall be entitled to rely upon any Note, notice, consent, certificate, affidavit, letter, telegram, statement, paper or document believed by it to be genuine and
correct and to have been signed or sent by the proper person or persons, and, in respect to legal matters, upon the opinion of counsel selected by the Agent, which counsel may be employees of the Agent. 
  
 
10.8 Agent’s Reimbursement and Indemnification. The Lenders agree to reimburse and indemnify the Agent ratably in proportion to their respective Commitments (or, if the Commitments have been terminated,
in proportion to their Commitments immediately prior to such termination) (a) for any amounts not reimbursed by the Borrowers for which the Agent is entitled to reimbursement by the Borrowers under the Loan Documents, (b) for any other expenses
incurred by the Agent on behalf of the Lenders, in connection with the preparation, execution, delivery, administration and enforcement of the Loan Documents (including, without limitation, for any expenses incurred by the Agent in connection with
any dispute between the Agent and any Lender or between two or more of the Lenders) and (c) for any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind and nature whatsoever
which may be imposed on, incurred by or asserted against the Agent in any way relating to or arising out of the Loan Documents or any other document delivered in connection therewith or the transactions contemplated thereby (including, without
limitation, for any such amounts incurred by or asserted against the Agent in connection with any dispute between the Agent and any Lender or between two or more of the Lenders), or the enforcement of any of the terms of the Loan Documents or of any
such other documents, provided that (i) no Lender shall be liable for any of the foregoing to the extent any of the foregoing is found in a final non-appealable judgment by a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of the Agent and (ii) any indemnification required pursuant to Section 3.5(g) shall, notwithstanding the provisions of this Section 10.8, be paid by the relevant Lender in accordance with the provisions
thereof. The obligations of the Lenders under this Section 10.8 shall survive payment of the Obligations and termination of this Agreement. 
  

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10.9 Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Unmatured Default hereunder unless the Agent has received written notice from a Lender or a
Borrower referring to this Agreement describing such Default or Unmatured Default and stating that such notice is a “notice of default”. In the event that the Agent receives such a notice, the Agent shall give prompt notice thereof to the
Lenders. 
  
 
10.10 Rights as a Lender. In the event the Agent is a Lender, the Agent shall have the same rights and powers hereunder and under any other Loan Document with respect to its Commitment and its Loans as any
Lender and may exercise the same as though it were not the Agent, and the term “Lender” or “Lenders” shall, at any time when the Agent is a Lender, unless the context otherwise indicates, include the Agent in its individual
capacity. The Agent and its Affiliates may accept deposits from, lend money to, and generally engage in any kind of trust, debt, equity or other transaction, in addition to those contemplated by this Agreement or any other Loan Document, with any
Borrower or any of its Subsidiaries in which such Borrower or such Subsidiary is not restricted hereby from engaging with any other Person. The Agent, in its individual capacity, is not obligated to remain a Lender. 
  
 
10.11 Lender Credit Decision. Each Lender acknowledges that it has, independently and without reliance upon the Agent, any Arranger or any other Lender and based on the financial statements prepared by the
Borrowers and such other documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Loan Documents. Each Lender also acknowledges that it will, independently and
without reliance upon the Agent, any Arranger or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement and
the other Loan Documents. 
  
 
10.12 Successor Agent. The Agent may resign at any time by giving written notice thereof to the Lenders and the Borrowers, such resignation to be effective upon the appointment of a successor Agent or, if no
successor Agent has been appointed, forty-five days after the retiring Agent gives notice of its intention to resign. The Agent may be removed at any time with or without cause by written notice received by the Agent from the Required Lenders, such
removal to be effective on the date specified by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the right to appoint, on behalf of the Borrowers and the Lenders, a successor Agent. If no successor Agent
shall have been so appointed by the Required Lenders within thirty days after the resigning Agent’s giving notice of its intention to resign, then the resigning Agent may appoint, on behalf of the Borrowers and the Lenders, a successor Agent.
Notwithstanding the previous sentence, the Agent may at any time without the consent of any Borrower or any Lender, appoint any of its Affiliates which is a commercial bank as a successor Agent hereunder. If the Agent has resigned or been removed
and no successor Agent has been appointed, the Lenders may perform all the duties of the Agent hereunder and the Borrowers shall make all payments in respect of the Obligations to the applicable Lender and for all other purposes shall deal directly
with the Lenders. No successor Agent shall be deemed to be appointed hereunder until such successor Agent has accepted the appointment. Any such successor Agent shall be a commercial bank having capital and retained earnings of at least
$100,000,000. Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the resigning or removed Agent.
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 effectiveness of the resignation or removal of the Agent, the resigning or removed Agent shall be
discharged from its duties and obligations hereunder and under the Loan Documents. After the effectiveness of the resignation or removal of an Agent, the provisions of this Article X shall continue in effect for the benefit of such Agent in
respect of any actions taken or omitted to be taken by it while it was acting as the Agent hereunder and under the other Loan Documents. In the event that there is a successor to the Agent by merger, or the Agent assigns its duties and obligations
to an Affiliate pursuant to this Section 10.12, then the term “Prime Rate” as used in this Agreement shall mean the prime rate, base rate or other analogous rate of the new Agent. 
  
 
10.13 Agent and Arranger Fees. The Borrowers agree to pay to the Agent and the Arrangers, for their respective accounts, the fees agreed to by (i) the Borrowers and CGMI pursuant to that certain letter
agreement dated April 7, 2005 and (ii) the Borrowers and WCM pursuant to the certain letter agreement dated April 5, 2005. 
  
 
10.14 Delegation to Affiliates. The Borrowers and the Lenders agree that the Agent may delegate any of its duties under this Agreement to any of its Affiliates. Any such Affiliate (and such Affiliate’s
directors, officers, agents and employees) which performs duties in connection with this Agreement shall be entitled to the same benefits of the indemnification, waiver and other protective provisions to which the Agent is entitled under Articles
IX and X. 
  
 
10.15 Co-Agents, Documentation Agent, Syndication Agent, Managing Agent, etc. Neither any of the Lenders identified in this Agreement as a “co-agent” nor any Documentation Agent, Syndication Agent or
Senior Managing Agent shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none of such Lenders shall have or be deemed to
have a fiduciary relationship with any Lender. Each Lender hereby makes the same acknowledgments with respect to such Lenders as it makes with respect to the Agent in Section 10.11. 
  
 
ARTICLE XI 
  
 SETOFF;
RATABLE PAYMENTS 
  
 
11.1 Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if any Borrower becomes insolvent, however evidenced, or any Default occurs, any and all deposits
(including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of such
Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due. 
  
 
11.2 Ratable Payments. If any Lender, whether by setoff or otherwise, has payment made to it upon its Loans (other than payments received pursuant to Section 3.1, 3.2, 3.4 or 3.5 or
payments of principal or interest on Competitive Bid Loans by any Borrower at a time when no Default is continuing with respect to such Borrower) in a greater proportion than that received by any other Lender, such Lender agrees, promptly upon
demand, to purchase a portion of the Loans held by the other Lenders so that after such purchase each Lender will hold its ratable proportion of Loans. If any Lender, whether in connection with setoff or amounts which might 
  

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 be subject to setoff or otherwise, receives collateral or other protection for its Obligations or such
amounts which may be subject to setoff, such Lender agrees, promptly upon demand, to take such action necessary such that all Lenders share in the benefits of such collateral ratably in proportion to their Loans. In case any such payment is
disturbed by legal process, or otherwise, appropriate further adjustments shall be made. 
  
 
ARTICLE XII 
  
 BENEFIT
OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS 
  
 
12.1 Successors and Assigns. The terms and provisions of the Loan Documents shall be binding upon and inure to the benefit of the Borrowers and the Lenders and their respective successors and assigns, except
that (a) no Borrower shall have the right to assign its rights or obligations under the Loan Documents and (b) any assignment by any Lender must be made in compliance with Section 12.3. The parties to this Agreement acknowledge that clause
(b) of this Section 12.1 relates only to absolute assignments and does not prohibit assignments creating security interests, including, without limitation, any pledge or assignment by any Lender of all or any portion of its rights under this
Agreement and any Note to a Federal Reserve Bank; provided, however, that no such pledge or assignment creating a security interest shall release the transferor Lender from its obligations hereunder unless and until the parties thereto
have complied with the provisions of Section 12.3. The Agent may treat the Person which made any Loan or which holds any Note as the owner thereof for all purposes hereof unless and until such Person complies with Section 12.3;
provided, however, that the Agent may in its discretion (but shall not be required to) follow instructions from the Person which made any Loan or which holds any Note to direct payments relating to such Loan or Note to another Person.
Any assignee of the rights to any Loan or any Note agrees by acceptance of such assignment to be bound by all the terms and provisions of the Loan Documents. Any request, authority or consent of any Person, who at the time of making such request or
giving such authority or consent is the owner of the rights to any Loan (whether or not a Note has been issued in evidence thereof), shall be conclusive and binding on any subsequent holder or assignee of the rights to such Loan. 
  
 
12.2 Participations. 
  
 12.2.1. Permitted Participants; Effect. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time sell to one or more banks or other entities
(“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any Commitment of such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a
Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such
Lender shall remain the owner of its Loans and the holder of any Note issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrowers under this Agreement shall be determined as if such Lender had not
sold such participating interests, and the Borrowers and the Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under the Loan Documents. 
  

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 12.2.2. Voting Rights. Each Lender shall retain the sole right to
approve, without the consent of any Participant, any amendment, modification or waiver of any provision of the Loan Documents other than any amendment, modification or waiver with respect to any Loan or Commitment in which such Participant has an
interest which would require consent of all of the Lenders pursuant to the terms of Section 8.2 or of any other Loan Document. 
  
 12.2.3. Benefit of Setoff. Each Borrower agrees that each Participant shall be deemed to have the right of setoff
provided in Section 11.1 in respect of its participating interest in amounts owing under the Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Lender under the Loan Documents,
provided that each Lender shall retain the right of setoff provided in Section 11.1 with respect to the amount of participating interests sold to each Participant. The Lenders agree to share with each Participant, and each Participant,
by exercising the right of setoff provided in Section 11.1, agrees to share with each Lender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 11.2 as if each
Participant were a Lender. 
  
 
12.3 Assignments. 
  
 12.3.1. Permitted Assignments. Any Lender may, in the ordinary course of its business and in accordance with applicable law, at any time assign to one or more banks or other entities
(“Purchasers”) all or any part of its rights and obligations under the Loan Documents. Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto. The
consent of the Borrowers and the Agent shall be required prior to an assignment becoming effective with respect to a Purchaser which is not a Lender or an Affiliate thereof; provided, however, that if a Default has occurred and is
continuing, the consent of the Borrowers shall not be required. Such consent of the Agent and, if applicable, the Borrowers shall not be unreasonably withheld or delayed. Each such assignment with respect to a Purchaser which is not a Lender or an
Affiliate thereof shall (unless each of the Borrowers and the Agent otherwise consents) be in an amount not less than the lesser of (a) $10,000,000 or (b) the remaining amount of the assigning Lender’s Commitment (calculated as at the date of
such assignment) or outstanding Loans (if the applicable Commitment has been terminated). 
  
 12.3.2. Effect; Effective Date. Upon (a) delivery to the Agent of an assignment, together with any consents
required by Section 12.3.1, and (b) payment to the Agent by the Purchaser or the Lender of a $3,500 fee in respect of any assignment under this Section 12.3 for processing such assignment (unless such fee is waived by the Agent), such
assignment shall become effective on the effective date specified in such assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Loans
under the applicable assignment agreement constitutes “plan assets” as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be “plan assets” under ERISA. On and after the
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 such assignment, such Purchaser shall for all purposes be a Lender party to this
Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of a Lender under the Loan Documents, to the same extent as if it were an original party hereto, and no further consent or
action by the Borrowers, the Lenders or the Agent shall be required to release the transferor Lender with respect to the percentage of the Aggregate Commitment and Loans assigned to such Purchaser. Upon the consummation of any assignment to a
Purchaser pursuant to this Section 12.3.2, the transferor Lender, the Agent and the Borrowers shall, if the transferor Lender or the Purchaser desires that its Loans be evidenced by Notes, make appropriate arrangements so that new Notes or,
as appropriate, replacement Notes are issued to such transferor Lender and new Notes or, as appropriate, replacement Notes, are issued to such Purchaser, in each case in principal amounts reflecting their respective Commitments, as adjusted pursuant
to such assignment. 
  
 
12.4 Dissemination of Information. Each Borrower authorizes each Lender to disclose to any Participant or Purchaser or any other Person acquiring an interest in the Loan Documents by operation of law (each a
“Transferee”) and any prospective Transferee any and all information in such Lender’s possession concerning the creditworthiness of such Borrower and its Subsidiaries, including without limitation any information contained in
any Reports; provided that each Transferee and prospective Transferee agrees to be bound by Section 9.11 of this Agreement. 
  
 
12.5 Tax Treatment. If any interest in any Loan Document is transferred to any Transferee which is organized under the laws of any jurisdiction other than the United States or any State thereof, the transferor
Lender shall cause such Transferee, concurrently with the effectiveness of such transfer, to comply with the provisions of Section 3.5(d). 
  
 
12.6 Designation. (a) Notwithstanding anything to the contrary contained herein, any Lender (a “Designating Lender”) may grant to one or more special purpose funding vehicles (each, an
“SPV”), identified as such in writing from time to time by the Designating Lender to the Administrative Agent and the Borrowers, the option to provide to the Borrowers all or any part of any Loan that such Designating Lender would
otherwise be obligated to make to the Borrowers pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPV to make any Loan, (ii) if an SPV elects not to exercise such option or otherwise fails to provide
all or any part of such Loan, the Designating Lender shall be obligated to make such Loan pursuant to the terms hereof and (iii) the Designating Lender shall remain liable for any indemnity or other payment obligation with respect to its Commitment
hereunder. The making of a Loan by an SPV hereunder shall utilize the Commitment of the Designating Lender to the same extent, and as if, such Loan were made by such Designating Lender. 
  
 (b) As to any Loans or portion thereof made by it, each SPV shall have all the rights that a
Lender making such Loans or portion thereof would have had under this Agreement; provided, however, that each SPV shall have granted to its Designating Lender an irrevocable power of attorney, to deliver and receive all communications
and notices under this Agreement (and any Loan Documents) and to exercise on such SPV’s behalf, all of such SPV’s voting rights under this Agreement. In the event that any Notes have been issued to the Designated Lender hereunder, no
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 required to evidence the Loans or portion thereof made by an SPV; and the related
Designating Lender shall be deemed to hold its Notes as agent for such SPV to the extent of the Loans or portion thereof funded by such SPV. In addition, any payments for the account of any SPV shall be paid to its Designating Lender as agent for
such SPV. 
  
 (c) Each party
hereto hereby agrees that no SPV shall be liable for any indemnity or payment under this Agreement for which a Lender would otherwise be liable. In furtherance of the foregoing, each party hereto hereby agrees (which agreements shall survive the
termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPV, it will not institute against, or join any other person in
instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. 
  
 (d) In addition, notwithstanding anything to the contrary contained in this Section
12.6 or otherwise in this Agreement, any SPV may (i) at any time and without paying any processing fee therefor, assign or participate all or a portion of its interest in any Loans to the Designating Lender or, with the prior consent of the
Borrowers and the Agent (provided, that if a Default has occurred and is continuing, the consent of the Borrowers shall not be required) to any financial institutions providing liquidity and/or credit support to or for the account of such SPV to
support the funding or maintenance of Loans and (ii) disclose on a confidential basis any non-public information relating to its Loan to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity
enhancements to such SPV, provided that such Persons agree to keep such information confidential to the same extent required by the Lenders hereunder. This Section 12.6 may not be amended without the written consent of any Designating Lender
affected thereby. 
  
 
ARTICLE XIII 
  
 NOTICES 
  
 
13.1 Notices. Except as otherwise permitted by Section 2.12 with respect to borrowing notices and except as provided in Section 13.2, all notices, requests and other communications to any party
hereunder shall be in writing (including electronic transmission, facsimile transmission or similar writing) and shall be given to such party: (a) in the case of any Borrower or the Agent, at its address or facsimile number set forth on the
signature pages hereof, (b) in the case of any Lender, at its address or facsimile number set forth below its signature hereto or (c) in the case of any party, at such other address or facsimile number as such party may hereafter specify for the
purpose by notice to the Agent and the Borrowers in accordance with the provisions of this Section 13.1. Each such notice, request or other communication shall be effective (i) if given by facsimile transmission, when transmitted to the
facsimile number specified in this Section and confirmation of receipt is received, (ii) if given by mail, 72 hours after such communication is deposited in the mails with first class postage prepaid, addressed as aforesaid, or (iii) if given by any
other means, when delivered (or, in the case of electronic transmission, received) at the 
  

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 address specified in this Section; provided that notices to the Agent under Article II
shall not be effective until received. 
  
 
13.2 Electronic Communications. 
  
 (a) Each Borrower hereby agrees that, unless otherwise requested by the Agent, it will provide to the Agent all information, documents and other materials that it is obligated to furnish to the
Agent pursuant to the Loan Documents, including, without limitation, all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication that (i) relates to a
request for a new, or a conversion of an existing, borrowing or other extension of credit (including any election of an interest rate or interest period relating thereto), (ii) relates to the payment of any principal or other amount due under this
Agreement prior to the scheduled date therefor, (iii) provides notice of any Default or Unmatured Default under this Agreement, (iv) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any
borrowing or other extension of credit hereunder or (v) initiates or responds to legal process (all such non-excluded information being referred to herein collectively as the “Communications”) by either (A) transmitting the
Communications in an electronic/soft medium (provided such Communications contain any required signatures) in a format acceptable to the Agent to oploanswebadmin@citigroup.com (or such other e-mail address designated by the Agent from time to
time) or (B) delivering to the Agent a CD-ROM, DVD or similar digital media containing the Communications. 
  
 (b) Each party hereto agrees that the Agent may make the Communications available to the Lenders by posting the
Communications on IntraLinks or another relevant website, if any, to which each Lender and the Agent have access (whether a commercial, third-party website or whether sponsored by the Agent) (the “Platform”). Nothing in this
Section 13.2 shall prejudice the right of the Agent to make the Communications available to the Lenders in any other manner specified in the Loan Documents. 
  
 (c) Each Borrower hereby acknowledges that certain of the Lenders may be
“public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrowers or their securities) (each, a “Public Lender”). Each Borrower hereby agrees that (i)
Communications that are to be made available on the Platform to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page
thereof, (ii) by marking Communications “PUBLIC,” each Borrower shall be deemed to have authorized the Agent and the Lenders to treat such Communications as either publicly available information or not material information (although it may
be sensitive and proprietary) with respect to such Borrower or its securities for purposes of United States Federal and state securities laws, (iii) all Communications marked “PUBLIC” are permitted to be made available through a portion of
the Platform designated “Public Investor,” and (iv) the Agent shall be entitled to treat any Communications that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public
Investor.” 
  

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 (d) Each Lender agrees that e-mail notice to it (at the address provided
pursuant to the next sentence and deemed delivered as provided in the next paragraph) specifying that Communications have been posted to the Platform shall constitute effective delivery of such Communications to such Lender for purposes of this
Agreement. Each Lender agrees (i) to notify the Agent in writing (including by electronic communication) from time to time to ensure that the Agent has on record an effective e-mail address for such Lender to which the foregoing notice may be sent
by electronic transmission and (ii) that the foregoing notice may be sent to such e-mail address. 
  
 (e) Each party hereto agrees that any electronic communication referred to in this Section 13.2 shall be deemed
delivered upon the posting of a record of such communication (properly addressed to such party at the e-mail address provided to the Agent) as “sent” in the e-mail system of the sending party or, in the case of any such communication to
the Agent, upon the posting of a record of such communication as “received” in the e-mail system of the Agent; provided that if such communication is not so received by the Agent during the normal business hours of the Agent, such
communication shall be deemed delivered at the opening of business on the next Business Day for the Agent. 
  
 (f) Each party hereto acknowledges that (i) the distribution of material through an electronic medium is not necessarily
secure and there are confidentiality and other risks associated with such distribution, (ii) the Communications and the Platform are provided “as is” and “as available,” (iii) none of the Agent, its affiliates nor any of their
respective officers, directors, employees, agents, advisors or representatives (collectively, the “Citigroup Parties”) warrants the adequacy of the Platform or the accuracy or completeness of any Communications, and each Citigroup
Party expressly disclaims liability for errors or omissions in any Communications or the Platform, and (iv) no warranty of any kind, express, implied or statutory, including, without limitation, any warranty of merchantability, fitness for a
particular purpose, non-infringement of third party rights or freedom from viruses or other code defects, is made by any Citigroup Party in connection with any Communications or the Platform. IN NO EVENT SHALL THE AGENT OR ANY OF ITS AFFILIATES OR
ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES (COLLECTIVELY, “AGENT PARTIES”) HAVE ANY LIABILITY TO THE BORROWER, ANY LENDER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND,
INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF THE BORROWER’S OR THE AGENT’S TRANSMISSION OF COMMUNICATIONS
THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY AGENT PARTY IS FOUND IN A FINAL NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH AGENT PARTY’S GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT. 
  

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13.3 Change of Address. Any Borrower, the Agent and any Lender may each change the address for service of notice upon it by a notice in writing to the other parties hereto. 
  
 
ARTICLE XIV 
  
 COUNTERPARTS 
  
 This
Agreement may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. This Agreement shall be effective when it
has been executed by the Borrowers, the Agent and the Lenders and each party has notified the Agent by facsimile transmission or telephone that it has taken such action. 
  
 
ARTICLE XV 
  
 CHOICE
OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 
  
 
15.1 CHOICE OF LAW. THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, BUT
GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS. 
  
 
15.2 CONSENT TO JURISDICTION. EACH BORROWER HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR NEW YORK STATE COURT SITTING IN NEW YORK, NEW YORK IN ANY ACTION
OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND EACH BORROWER HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT
MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENT OR ANY LENDER TO BRING PROCEEDINGS AGAINST ANY
BORROWER IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY BORROWER AGAINST THE AGENT OR ANY LENDER OR ANY AFFILIATE OF THE AGENT OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED
TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN NEW YORK, NEW YORK. 
  
 
15.3 WAIVER OF JURY TRIAL. EACH BORROWER, THE AGENT AND EACH LENDER HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY 
  

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 ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT OR THE RELATIONSHIP ESTABLISHED
THEREUNDER. 
  
 [signature pages follow] 
  

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 IN WITNESS WHEREOF, the Borrowers, the Lenders and the Agent have executed this Agreement
as of the date first above written. 
  

			
	 NATIONWIDE MUTUAL INSURANCE
 COMPANY

		
	 By:
	 	  

	 	 	 Carol L. Dove

	 Title:
	 	 Vice President – Assistant Treasurer

	 	 	 One Nationwide Plaza 1-32-06

	 	 	 Columbus, Ohio 43215-2220

	 	 	 Attention: Carol L. Dove

	 	 	 Telephone: (614) 249-6963

	 	 	 FAX: (614) 249-2739

	
	 NATIONWIDE LIFE INSURANCE COMPANY

		
	 By:
	 	  

	 	 	 Carol L. Dove

	 Title:
	 	 Vice President – Assistant Treasurer

	 	 	 One Nationwide Plaza 1-32-06

	 	 	 Columbus, Ohio 43215-2220

	 	 	 Attention: Carol L. Dove

	 	 	 Telephone: (614) 249-6963

	 	 	 FAX: (614) 249-2739

	
	 NATIONWIDE FINANCIAL SERVICES, INC.

		
	 By:
	 	  

	 	 	 Carol L. Dove

	 Title:
	 	 Vice President – Assistant Treasurer

	 	 	 One Nationwide Plaza 1-32-06

	 	 	 Columbus, Ohio 43215-2220

	 	 	 Attention: Carol L. Dove

	 	 	 Telephone: (614) 249-6963

	 	 	 FAX: (614) 249-2739

  

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	 CITICORP USA, INC., as Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-2 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 WACHOVIA BANK, NATIONAL ASSOCIATION,
 as Syndication Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  
  

 S-3 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 ABN AMRO BANK N.V., as Co-Documentation
 Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-4 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 BANK OF AMERICA, N.A., as Co-Documentation
 Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-5 
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	 THE BANK OF NEW YORK, as Co-Documentation
 Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-6 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 JPMORGAN CHASE BANK, N.A., as Co-Documentation Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-7 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 KEYBANK NATIONAL ASSOCIATION, as Co-
 Documentation Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-8 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 HSBC BANK USA, NATIONAL ASSOCIATION,
 as Co-Documentation Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-9 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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	 MELLON BANK, N.A., as Senior Managing Agent
 and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-10 
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	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as Senior Managing Agent and as
 a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-11 
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	 THE HUNTINGTON NATIONAL BANK, as Co-
 Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-12 
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	 PNC BANK, NATIONAL ASSOCIATION, as Co-
 Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-13 
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	 STATE STREET BANK AND TRUST
 COMPANY, as Co-Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-14 
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	 US BANK, NATIONAL ASSOCIATION, as Co-
 Agent and as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-15 
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	 BANK OF MONTREAL, as Co-Agent and as a
 Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-16 
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	 FIFTH THIRD BANK, as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-17 
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	 NATIONAL CITY BANK, as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 S-18 
 [TO AMENDED AND RESTATED FIVE YEAR CREDIT AGREEMENT] 

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PRICING SCHEDULE 
  

																			
	 	  	LEVEL I
STATUS

	 	 	LEVEL II
STATUS

	 	 	LEVEL III
STATUS

	 	 	LEVEL IV
STATUS

	 	 	LEVEL V
STATUS

	 	 	LEVEL VI
STATUS

	 
	 Eurodollar Margin
	  	0.140	%	 	0.180	%	 	0.245	%	 	0.325	%	 	0.375	%	 	0.550	%
	 Facility Fee Rate
	  	0.060	%	 	0.070	%	 	0.080	%	 	0.100	%	 	0.125	%	 	0.200	%
	 Utilization Fee Rate
	  	0.050	%	 	0.050	%	 	0.050	%	 	0.075	%	 	0.125	%	 	0.125	%

  
 For
the purposes of this Schedule, the following terms have the following meanings, subject to the final paragraph of this Schedule: 
  
 “Level I Status” exists (a) with respect to Nationwide Mutual or Nationwide Life, at any date if, on such date, such
Person’s Moody’s Rating is Aa2 or better or such Person’s S&P Rating is AA or better and (b) with respect to NFS, at any date if, on such date, NFS’s Moody’s Rating is A1 or better or NFS’s S&P Rating is A+ or
better. 
  
 “Level II Status”
exists with respect to any Borrower at any date if, on such date, (a) such Borrower has not qualified for Level I Status and (b) (i) with respect to Nationwide Mutual or Nationwide Life, such Person’s Moody’s Rating is Aa3 or better or
such Person’s S&P Rating is AA- or better and (ii) with respect to NFS, NFS’s Moody’s Rating is A2 or better or NFS’s S&P Rating is A or better. 
  
 “Level III Status” exists with respect to any Borrower at any date if, on such date, (a)
such Borrower has not qualified for Level I Status or Level II Status and (b) (i) with respect to Nationwide Mutual or Nationwide Life, such Person’s Moody’s Rating is A1 or better or such Person’s S&P Rating is A+ or better and
(ii) with respect to NFS, NFS’s Moody’s Rating is A3 or better or NFS’s S&P Rating is A- or better. 
  
 “Level IV Status” exists with respect to any Borrower at any date if, on such date, (a) such Borrower has not qualified
for Level I Status, Level II Status or Level III Status and (b) (i) with respect to Nationwide Mutual or Nationwide Life, such Person’s Moody’s Rating is A2 or better or such Person’s S&P Rating is A or better and (ii) with
respect to NFS, NFS’s Moody’s Rating is Baa1 or better or NFS’s S&P Rating is BBB+ or better. 
  
 “Level V Status” exists with respect to any Borrower at any date if, on such date, (a) such Borrower has not qualified
for Level I Status, Level II Status, Level III Status or Level IV Status and (b) (i) with respect to Nationwide Mutual or Nationwide Life, such Person’s Moody’s Rating is A3 or better or such Person’s S&P Rating is A- or better
and (ii) with respect to NFS, NFS’s Moody’s Rating is Baa2 or better or NFS’s S&P Rating is BBB or better. 
  
 “Level VI Status” exists with respect to any Borrower at any date if, on such date, such Borrower has not qualified for
Level I Status, Level II Status, Level III Status, Level IV Status, or Level V Status. 

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 “Moody’s Rating” means, at any time, (a) with respect to Nationwide
Mutual and Nationwide Life, the financial strength rating issued by Moody’s and then in effect with respect to such Person, and (b) with respect to NFS, the rating issued by Moody’s and then in effect with respect to NFS’s senior
unsecured long-term debt securities without third-party credit enhancement. 
  
 “S&P Rating” means, at any time, (a) with respect to Nationwide Mutual and Nationwide Life, the financial strength rating issued by S&P and then in effect with respect to such Person, and (b)
with respect to NFS, the rating issued by S&P and then in effect with respect to NFS’s senior unsecured long-term debt securities without third-party credit enhancement. 
  
 “Status” means either Level I Status, Level II Status, Level III Status, Level IV Status,
Level V Status or Level VI Status. 
  
 The
Applicable Margin and the Applicable Facility Fee Rate with respect to each Borrower shall be determined in accordance with the foregoing table based on such Borrower’s Status as determined from its then-current Moody’s and S&P
Ratings. The Applicable Utilization Fee Rate shall be determined in accordance with the foregoing table based on the Status of the Borrower which has the lowest Status (with Level I Status being the highest Status and Level VI Status being the
lowest Status) of all Borrowers to which Advances are then outstanding. 
  
 The credit rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date. If at any time a Borrower has no Moody’s Rating or no S&P Rating, Level VI
Status shall exist. Notwithstanding the foregoing, if the Moody’s Rating and the S&P Rating are more than one level apart, then Status shall be based on the level which is one level above the lower of the two levels. 

Table of Contents

 
SCHEDULE I 
  
 COMMITMENTS 
  

				
	 Lender

	  	Commitment

	 Citicorp USA, Inc.
	  	$	90,000,000
	 Wachovia Bank, National Association
	  	$	90,000,000
	 ABN AMRO Bank N.V.
	  	$	75,000,000
	 Bank of America, N.A.
	  	$	75,000,000
	 The Bank of New York
	  	$	75,000,000
	 JPMorgan Chase Bank, N.A.
	  	$	75,000,000
	 KeyBank National Association
	  	$	75,000,000
	 HSBC Bank USA, National Association
	  	$	75,000,000
	 Mellon Bank, N.A.
	  	$	55,000,000
	 Wells Fargo Bank, National Association
	  	$	55,000,000
	 The Huntington National Bank
	  	$	40,000,000
	 PNC Bank, National Association
	  	$	40,000,000
	 State Street Bank and Trust Company
	  	$	40,000,000
	 US Bank, National Association
	  	$	40,000,000
	 Bank of Montreal
	  	$	40,000,000
	 Fifth Third Bank
	  	$	30,000,000
	 National City Bank
	  	$	30,000,000
		
	 Aggregate Commitment:
	  	$	1,000,000,000
	 	  	
	

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SCHEDULE 5.8 
  
 SUBSIDIARIES 
 (as of December 31, 2004) 
  
 [Borrowers to update] 
  
 1717 Advisory Services, Inc. 
 1717 Brokerage Services, Inc. 
 1717 Capital Management Company 
 1717 Insurance Agency of Massachusetts, Inc. 
 1717 Insurance Agency of Texas, Inc. 
 The 401(k) Companies, Inc. 
 The 401(k) Company 
 401(k) Investment Advisors, Inc. 
 401(k) Investment Services, Inc. 
 Affiliate
Agency of Ohio, Inc. 
 Affiliate Agency, Inc. 
 AGMC Reinsurance Ltd. 
 AID Finance Services, Inc. 
 ALLIED Document Solutions, Inc. (fka Midwest Printing Services, Inc.) 
 ALLIED General
Agency Company 
 ALLIED Group Insurance Marketing Company 
 ALLIED Group, Inc. 
 ALLIED Property and Casualty Insurance Company 
 Allied Texas Agency, Inc. 
 Allnations, Inc.

 AMCO Insurance Company 
 American Marine Underwriters, Inc. 
 Asset Management Holdings, plc 
 Audenstar Limited 
 Cal-Ag Insurance Services, Inc. 
 CalFarm Insurance Agency 
 CalFarm Insurance
Company 
 Cap Pro Advisory Services, Inc. 
 Cap Pro Brokerage Services, Inc. 
 Cap Pro Holding, Inc. 
 Cap Pro Insurance Agency Services, Inc. 
 Capital Professional Advisors, Inc. 
 Clarinet Life Insurance 
 CODA Capital Management LLC 
 Colonial County Mutual Insurance Company 
 Cooperative Service Company 
 Corviant
Corporation 
 Damian Securities Limited 
 Danica Life S.A. 

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 Delfi Realty Corporation 
 Depositors Insurance Company 
 Discover Insurance Agency of Texas, LLC 
 Discover Insurance Agency, LLC 
 DVM Insurance
Agency, Inc. 
 F&B, Inc. 
 Farmland Mutual Insurance Company 
 Fenplace Limited 
 Financial Horizons Distributors Agency of Alabama, Inc. 
 Financial Horizons Distributors Agency of Ohio,
Inc. 
 Financial Horizons Distributors Agency of Oklahoma, Inc. 
 Financial Horizons Distributors Agency of Texas, Inc. 
 Financial Horizons Securities Corporation 

Four P Finance Company 
 G.I.L. Nominees
Limited 
 Gartmore 1990 Limited 
 Gartmore 1990 Trustee Limited 
 Gartmore Capital Management Limited 
 Gartmore Distribution Services, Inc. 
 Gartmore Emerging Managers, LLC 
 Gartmore Fund Managers International Limited 
 Gartmore Fund Managers Limited 
 Gartmore Global Asset Management Trust 
 Gartmore Global Asset Management, Inc. 
 Gartmore Global Investments, Inc. 

Gartmore Global Partners 
 Gartmore Global
Ventures, Inc. 
 Gartmore Indosuez UK Recovery Fund (G.P.) Limited 
 Gartmore Investment Limited 
 Gartmore Investment Management plc 
 Gartmore Investment Services GmbH 
 Gartmore
Investment Services Limited 
 Gartmore Investor Services, Inc. 
 Gartmore Japan Limited 
 Gartmore Morley & Associates, Inc. 
 Gartmore Morley Capital Management, Inc. 
 Gartmore Morley Financial Services, Inc. 
 Gartmore Mutual Fund Capital Trust 
 Gartmore Nominees Limited 
 Gartmore Pension
Trustees Limited 
 Gartmore Riverview, LLC 
 Gartmore S.A. Capital Trust 
 Gartmore Secretaries (Jersey) Ltd. 
 Gartmore Trust Company 
 Gartmore Securities
Limited 
 Gartmore U.S. Limited 
 Gates, McDonald & Company 

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 Gates, McDonald & Company of New York, Inc. 
 Gates, McDonald & Company of Nevada 
 GatesMcDonald Health Plus Inc. 
 GGI Management LLC 
 Institutional Concepts,
Inc. 
 Insurance Intermediaries, Inc. 
 Landmark Financial Services of New York, Inc. 
 Lone Star General Agency, Inc. 
 Market Street Fund 
 Market Street Investment
Management Company 
 MedProSolutions, Inc. 
 National Casualty Company 
 National Deferred Compensation, Inc. 
 Nationwide Advantage Mortgage Company 
 Nationwide Affinity Insurance Company of America 
 Nationwide Affordable Housing, LLC 
 Nationwide Agency, Inc. 
 Nationwide
Agribusiness Insurance Company 
 Nationwide Arena, LLC 
 Nationwide Asset Management Holdings, Ltd. 
 Nationwide Assurance Company 
 Nationwide Capital Mortgage, LLC 
 Nationwide
Cash Management Company 
 Nationwide Community Development Corporation, LLC 
 Nationwide Corporation 
 Nationwide Financial Assignment Company 
 Nationwide Financial Institution Distributors Agency, Inc. 
 Nationwide Financial Institution Distributors Agency, Inc. of New Mexico 
 Nationwide Financial Institution
Distributors Insurance Agency, Inc. of Massachusetts 
 Nationwide Financial Services (Bermuda) Ltd. 
 Nationwide Financial Services Capital Trust 
 Nationwide Financial Services Capital Trust II 
 Nationwide Financial Services, Inc. 
 Nationwide Financial Sp. z o.o 
 Nationwide
Foundation 
 Nationwide General Insurance Company 
 Nationwide Global Finance, LLC 
 Nationwide Global Funds 
 Nationwide Global Holdings, Inc. 
 Nationwide
Global Holdings, Inc.- Luxembourg Branch 
 Nationwide Global Holdings-NGH Brazil Participacoes, LTDA 
 Nationwide Global Japan, Inc. 
 Nationwide
Global Limited 
 Nationwide Health Plans, Inc. 
 Nationwide Home Mortgage Distributors, Inc. 
 Nationwide Indemnity Company 
 Nationwide Insurance Company of America 

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 Nationwide Insurance Company of Florida 
 Nationwide Insurance Sales Company, LLC 
 Nationwide International Underwriters

 Nationwide Investment Services Corporation 
 Nationwide Life and Annuity Company of America 
 Nationwide Life and Annuity Insurance Company 
 Nationwide Life Assurance Company, Ltd. 
 Nationwide Life Insurance Company 
 Nationwide Life Insurance Company of America, Inc. 
 Nationwide Life Insurance Company of Delaware 
 Nationwide Lloyds 
 Nationwide Management Systems, Inc. 
 Nationwide Martíma Vida Previdência S.A. 
 Nationwide Mortgage Holdings,
Inc. 
 Nationwide Mutual Fire Insurance Company 
 Nationwide Mutual Insurance Company 
 Nationwide Properties, Ltd. 
 Nationwide Property and Casualty Insurance Company 
 Nationwide Provident Distributors, Inc. 
 Nationwide Provident Holding Company 
 Nationwide Realty Investors, Ltd.1 
 Nationwide Retirement Plan Services, Inc. 
 Nationwide Retirement Solutions, Inc. 
 Nationwide Retirement Solutions, Inc. of Alabama 
 Nationwide Retirement Solutions, Inc. of Arizona 
 Nationwide Retirement Solutions, Inc. of Arkansas 
 Nationwide Retirement Solutions, Inc. of Montana 
 Nationwide Retirement Solutions, Inc. of Nevada 
 Nationwide Retirement Solutions, Inc. of New Mexico 
 Nationwide Retirements Solutions, Inc. of Ohio 
 Nationwide Retirement Solutions, Inc. of Oklahoma 
 Nationwide Retirement Solutions, Inc. of South Dakota 
 Nationwide Retirement Solutions, Inc. of Texas 
 Nationwide Retirement Solutions, Inc. of Wyoming 
 Nationwide Retirement Solutions Insurance Agency, Inc. 
 Nationwide Securities, Inc. 
 Nationwide Services Company, LLC 
 Nationwide
Services Sp. z o.o. 
 Nationwide Strategic Investment Fund, LLC 
 Nationwide Towarzystwo Ubezpieczen na Zycie S.A. 

	 1
	 Nationwide Realty Investors, Ltd. (“NRI”) has, directly or indirectly, a majority interest in a number of entities that are not listed
herein (“NRI Subsidiaries”) despite the fact that each of said NRI Subsidiaries would be considered a “Subsidiary” pursuant to the terms of the Agreement. The NRI Subsidiaries are formed in the ordinary course of NRI’s
business primarily for ownership of, investment in, or development of real estate. A complete list of the NRI Subsidiaries is available upon request. 

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 Nationwide Trust Company, FSB 
 Nationwide UK Asset Management Holdings, Ltd. 
 Nationwide UK Holding Company, Ltd.

 NCC of America, Ltd. (Inactive) 
 Newhouse Capital Partners, LLC 
 Newhouse Special Situations Fund I, LLC 
 NFS Distributors, Inc. 
 NFSB Investments Ltd. 
 NGH Luxembourg, S.A. 
 NGH Netherlands, B.V.

 NGH UK, Ltd. 
 NorthPointe
Capital, LLC 
 PanEuroLife 
 Pension Associates, Inc. 
 PNAM, Inc. 
 Premier Agency, Inc. 
 Provestco, Inc. 
 RCMD Financial Services, Inc. 
 Retention Alternatives, Ltd. 
 RF Advisers, Inc. 
 Riverview Agency, Inc.

 Riverview International Group, Inc. 
 SBSC Ltd (Thailand) 
 Scottsdale Indemnity Company 
 Scottsdale Insurance Company 
 Scottsdale Surplus Lines Insurance Company 
 Siam Ar-Na-Khet Company Limited 
 Software
Development Corp. 
 TBG Insurance Services Corporation 
 Vertboise, SA 
 Veterinary Pet Insurance Company 
 Veterinary Pet Services, Inc. 
 Villanova Securities, LLC 
 VPI Services, Inc. 
 Washington Square
Administrative Services, Inc. 
 Western Heritage Insurance Company 

Table of Contents

 
SCHEDULE 6.12 
  
 LIENS

  
 [to be provided by Borrowers]Supplemental Indenture

 Exhibit 4.1 
  

RECORDING REQUESTED BY RECORDED MAIL TO: 
 U.S. BANK
NATIONAL ASSOCIATION 
 633 W. FIFTH STREET, 24TH FLOOR 
 LOS ANGELES, CA 90071 
 ATTN: CORPORATE TRUST SERVICES 
  
 Index as a UCC Filing and an Indenture 
 This is a Security Agreement and a Mortgage of Chattels 
 as well as a Mortgage of Real Estate and Other Property

  
 FIFTIETH SUPPLEMENTAL INDENTURE 
  
 FROM 
  
 SAN DIEGO GAS & ELECTRIC COMPANY 
  
 TO 
  
 U.S. BANK NATIONAL ASSOCIATION 
  
 **************** 
  
 Dated as of May 19, 2005 
  

 TABLE OF CONTENTS * 
  

					
	 	  	 	  	Page

	 Parties
	  	 	  	1
	 Recitals
	  	 	  	1
	 Granting Clauses
	  	 	  	6
	 Exceptions from Lien
	  	 	  	7
	 Habendum Clause
	  	 	  	7
	
	ARTICLE I
	
	SERIES BBB BONDS
			
	 Section 1.
	  	 Creation of Bonds of Series BBB, due 2035
	  	8
	 Section 2.
	  	 Authorization and Delivery of Bonds
	  	8
	 Section 3.
	  	 Issuable as Fully Registered Bonds; Form of Bond
	  	8
	 Section 4.
	  	 Global Securities
	  	8
	 Section 5.
	  	 Other Provisions and Endorsements
	  	9
	 Section 6.
	  	 Exchangeability of Series BBB Bonds, due 2035
	  	10
	 Section 7.
	  	 Offices or Agencies for Payment, Registration, Transfer and Exchange
	  	10
	 Section 8.
	  	 Certain Conditions as to Transfer
	  	10
	
	ARTICLE II
	
	MISCELLANEOUS PROVISIONS
			
	 Section 1.
	  	 This Indenture Supplemental to Indenture of July 1, 1940
	  	10
	 Section 2.
	  	 Defined Terms
	  	10
	 Section 3.
	  	 Counterparts
	  	10
	 Section 4.
	  	 Provisions Binding on Successors and Assigns
	  	10
	 Section 5.
	  	 Conflicting Provisions
	  	10
	 Section 6.
	  	 Governing Law
	  	10
		
	 Signatures and Attestation
	  	S-1

	*	For convenience only and not part of the Fiftieth Supplemental Indenture 

  

 THIS FIFTIETH SUPPLEMENTAL INDENTURE IS A SECURITY 
 AGREEMENT AND A MORTGAGE OF CHATTELS AS WELL AS 
 A MORTGAGE OF REAL ESTATE AND OTHER PROPERTY 
  
 THIS FIFTIETH SUPPLEMENTAL INDENTURE, dated as of the nineteenth day of May, 2005, by and between SAN DIEGO GAS & ELECTRIC COMPANY, a corporation duly organized and existing under and by virtue of the laws of the State of California,
having its principal office in that State in the City of San Diego (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a banking association duly organized under an act known as the “National Bank Act”, of the United
States of America, having a corporate trust office in the City of Los Angeles, State of California, as Trustee (the “Trustee”). 
  
 WHEREAS, the Company executed and delivered a Mortgage and Deed of Trust (the “Original Indenture”), dated July 1, 1940, to The Bank of
California, National Association, as predecessor trustee to Bankers Trust Company of California, National Association, as predecessor trustee to First Trust of California, National Association, (subsequently renamed U.S. Bank Trust National
Association) as predecessor trustee to the Trustee, to secure payment of the principal of and the interest on all bonds of the Company at any time outstanding thereunder according to their tenor and effect, and to provide the terms and provisions
with respect to its First Mortgage Bonds, 3 3/8% Series due July 1, 1970, issued in the aggregate principal amount of $16,000,000 and heretofore retired; and 
  
 WHEREAS, the
Company executed and delivered to the then current trustee, a First Supplemental Indenture dated as of December 1, 1946, a Second Supplemental Indenture dated as of March 1, 1948, a Third Supplemental Indenture dated as of April 1, 1952, a Fourth
Supplemental Indenture dated as of April 1, 1954, a Fifth Supplemental Indenture dated as of October 1, 1955, a Sixth Supplemental Indenture dated as of October 1, 1957, a Seventh Supplemental Indenture dated as of October 1, 1960, an Eighth
Supplemental Indenture dated as of March 1, 1967, a Tenth Supplemental Indenture dated as of December 1, 1968, an Eleventh Supplemental Indenture dated as of February 1, 1970, a Twelfth Supplemental Indenture dated as of September 1, 1971, a
Thirteenth Supplemental Indenture dated as of January 15, 1974, a Fourteenth Supplemental Indenture dated as of December 15, 1974, a Fifteenth Supplemental Indenture dated as of May 1, 1975, a Seventeenth Supplemental Indenture dated as of July 15,
1976, an Eighteenth Supplemental Indenture dated as of March 15, 1977, a Nineteenth Supplemental Indenture dated as of May 1, 1978, a Twentieth Supplemental Indenture dated as of March 15, 1980, a Twenty-First Supplemental Indenture dated as of
August l, 1980, a Twenty-Second Supplemental Indenture dated as of July 15, 1981, a Twenty-Third Supplemental Indenture dated as of January 15, 1982, a Twenty-Fourth Supplemental Indenture dated as of August 16, 1982, a Twenty-Fifth Supplemental
Indenture dated as of August 16, 1982, a Twenty-Sixth Supplemental Indenture dated as of August 16, 1982, a Twenty-Seventh Supplemental Indenture dated as of June 2, 1983, a Twenty-Eighth Supplemental Indenture dated as of July 15, 1983, a
Twenty-Ninth Supplemental Indenture dated as of September 1, 1983, a Thirty-First, Supplemental Indenture dated as of May 1, 1984, a Thirty-Second Supplemental Indenture dated as of December 1984, a Thirty-Third Supplemental Indenture dated as of
September 1, 1985, a Thirty-Fourth Supplemental Indenture dated as of December 1, 1985, a Third-Fifth Supplemental Indenture dated as of July 1, 1986, a Thirty-Sixth Supplemental Indenture dated as of December 1, 1986, a Thirty-Seventh Supplemental
Indenture dated as of September 1, 1987, a Thirty-Eighth Supplemental Indenture dated as of April 15, 1990, a Thirty-Ninth Supplemental Indenture dated as of December 1, 1991, a Fortieth Supplemental Indenture dated as of April 1, 1992, a
Forty-First Supplemental Indenture dated as of June 15, 1992, a Forty-Second Supplemental Indenture dated as of September 1, 1992, a Forty-Third Supplemental Indenture dated as of December 1, 1992, a Forty-Fourth Supplemental Indenture dated as of
April 1, 1993, a Forty-Fifth Supplemental Indenture dated as of June 1, 1993, a Forty-Sixth Supplemental Indenture dated as of July 1, 1993, a Forty-Seventh Supplemental Indenture dated as of June 1, 1995 and a Forty-Eighth Supplemental Indenture
dated as of June 1, 1995, a Forty-Ninth Supplemental Indenture dated as of June 1, 2004, whereby, among other things, the Company set forth certain of the particulars of the Bonds of series designated “First Mortgage Bonds, 2 3/4% Series due
December 1, 1981” issued in the aggregate principal amount of $2,800,000; “First Mortgage Bonds, Series C due 1978” issued in the aggregate principal amount of $10,000,000; “First Mortgage Bonds, Series D due 1982” issued in
the aggregate principal amount of $512,000,000; “First Mortgage Bonds, Series E due 1984” issued; in the aggregate principal amount of $17,000,000; “First Mortgage Bonds, Series F due 1985” issued in the aggregate principal
amount of $18,000,000; “First Mortgage Bonds, Series G due 1987” issued is the aggregate principal amount of $12,000,000; “First Mortgage Bonds, Series H due 1990” issued in the aggregate principal amount of $30,000,000;
“First Mortgage Bonds, Series I due 1997” issued in the 

  

 1 

 
aggregate principal amount of $25,000,000; “First Mortgage Bonds, Series J due 1998” issued in the aggregate principal amount of $35,000,000;
“First Mortgage Bonds; Series K due 2000” issued in the aggregate principal amount of $40,000,000; “First Mortgage Boards, Series L due 2001” issued in the aggregate principal amount of $45,000,000; “First Mortgage Bonds,
Series M due 2004” issued in the aggregate principal amount of $75,000,000; “First Mortgage Bonds, Series N due 1979” issued in the aggregate principal amount of $50,000,000; “First Mortgage Bonds, Series O due 1982” issued
in the aggregate principal amount of $40,000,000; “First Mortgage Bonds, Series P due 2006” issued in the aggregate principal amount of $45,000,000; “First Mortgage Bonds, Series Q due 2007” issued in the aggregate principal
amount of $50,000,000; “First Mortgage Bonds, Series R due 2008” issued in the aggregate principal amount of $50,000,000; “First Mortgage Bonds, Series S due 2010” issued in the aggregate principal amount of $50,000,000;
“First Mortgage Bonds, Series T due 2010” issued in the aggregate principal amount of $75,000,000; “First Mortgage Bonds, Series U-1 due 1984, and U-2 due 1994” issued in the aggregate principal amount of $6,567,000 for Series
U-1 and $13,268,000 for Series U-2, “First Mortgage Bonds, Series V due 2011” issued in the aggregate amount of $50,000,000, “First Mortgage Bonds, Series W due 1988” issued in the aggregate principal amount of $40,000,000;
“First Mortgage Bonds, Series X due 1987” issued in the aggregate principal amount of $20,000,000; “First Mortgage Bonds, Series Y due 1987” issued in the aggregate principal amount of $15,000,000; “First Mortgage Bonds,
Series Z, due 2013” issued in the aggregate principal amount of $65,000,000; “First Mortgage Bonds, Series AA, due 2018” issued in the aggregate principal amount of $150,000,000; “First Mortgage Bonds, Series BB, due 2018”
issued in the aggregate principal amount of $150,000,000; “First Mortgage Bonds, Series CC, due 2008” issued in the aggregate principal amount of $53,000,000; “First Mortgage Bonds Series DD, due 2008” issued in the aggregate
principal amount of $27,000,000; “First Mortgage Bonds, Series EE, due 2015” issued in the aggregate principal amount of $100,000,000; “First Mortgage Bonds, Series FF, due 2007” issued in the aggregate principal amount of
$35,000,000; “First Mortgage Bonds, Series GG, due 2021” issued in the aggregate principal amount of’ $44,250,000; “First Mortgage Bonds, Series HH, due 2021” issued in the aggregate principal amount of $381,350,000;
“First Mortgage Bonds, Series II due 2023” issued in the aggregate principal amount of $25,000,000; “First Mortgage Bonds, Series JJ, due 2015” issued in aggregate principal amount of $100,000,000; “First Mortgage Bonds,
Series KK, due 2015” issued in the aggregate principal amount of $14,400,000; “First Mortgage Bonds, Series LL, due 2022” issued in the aggregate principal amount of $60,000,000, “First Mortgage Bonds, Series MM due 2002”
issued in the aggregate principal amount of $80,000,000; “First Mortgage Bonds, Series NN”, issued in the aggregate principal amount of $118,615,000; “First Mortgage Bands, Series OO”, issued in the aggregate principal amount of
$250,000,000; “First Mortgage Bonds, Series PP, due 2018” issued in the aggregate principal amount of $70,795,000; “First Mortgage Bonds, Series QQ, due 2018” issued in the aggregate principal amount of $14,915,000; “First
Mortgage Bonds, Series RR, due 2021” issued in the aggregate principal amount of $60,000,000, and “First Mortgage Bonds, Series SS, due 2018” issued in the aggregate principal amount of $92,945,000, “First Mortgage Bonds, Series
TT due 2020” issued in the aggregate principal amount of $57,650,000, “First Mortgage Bonds, Series UU due 2020” issued in the aggregate principal amount of $16,700,000, “First Mortgage Bonds, Series VV due 2034” issued in
the aggregate principal amount of $43,615,000, “First Mortgage Bonds, Series WW due 2034” issued in the aggregate principal amount of $40,000,000, “First Mortgage Bonds, Series XX due 2034” issued in the aggregate principal
amount of $35,000,000, “First Mortgage Bonds, Series YY due 2034” issued in the aggregate principal amount of $24,000,000, “First Mortgage Bonds, Series ZZ due 2034” issued in the aggregate principal amount of $33,650,000 and
“First Mortgage Bonds, Series AAA due 2039” issued in the aggregate principal amount of $75,000,000, respectively, all of which First Mortgage Bonds are presently issued and outstanding, except the 2 3/4% Series due 1981, the Series C due
1978, the Series D due 1982, the Series E due 1984, the Series F due 1985, the Series G due 1987, the Series H due 1990, the Series I due 1997, the Series J due 1998, the Series K due 2000, the Series L due 2001, the Series M due 2004, the Series N
due 1979, the Series 0 due 1982, the Series P due 2006, the Series Q due 2007, the Series R due 2008, the Series S due 2010, the Series T due 2010, the Series U-1 due 1984, the Series U-2 due 1994, the Series V due 2011, the Series W due 1988, the
Series X due 1987, the Series Y due 1987, the Series Z due 2013, the Series AA due 2018, the Series BB due 2018, the Series CC due 2008, the Series DD due 2008, the Series EE due 2015, the Series FF due 2007, the Series GG due 2021, the Series HH
due 2021, the Series II due 2023, the Series JJ due 2015, the Series LL due 2022, the Series MM due 2022, the Series NN, the Series QQ due 2018 the Series TT due 2020, and the Series UU due 2020, which have heretofore been retired or redeemed; and

  
 WHEREAS, certain of the provisions of the Original Indenture
have been amended by the aforesaid Second and Tenth Supplemental Indentures, a Ninth Supplemental Indenture dated as of August 1, 1968, a Sixteenth 

  

 2 

 
Supplemental Indenture dated August 28, 1975, and a Thirtieth Supplemental Indenture dated September 23, 1983; and 
  
 WHEREAS, the Original Indenture and each of said Supplemental Indentures
have been recorded in the Official Records of the Recorders of the Counties of San Diego, Orange, Riverside, and Imperial in the State of California and the Counties, Yuma and Maricopa in the State of Arizona, as follows: 
  

											
	 Document

	  	 Official
 Records

	  	 Counties of

	  	  	 San Diego

	  	 Orange

	  	 Riverside

	  	 Imperial

	Original Indenture	  	Book	  	1087	  	1062	  	1765	  	1369
	  	Page	  	1	  	300	  	364	  	232
	  	Date	  	Oct. 10, 1940	  	Oct. 10, 1940	  	July 13, 1955	  	Nov. 22, 1974
						
	First Supplemental Indenture	  	Book	  	2321	  	1506	  	1765	  	1369
	  	Page	  	48	  	472	  	499	  	332
	  	Date	  	Jan. 2, 1947	  	Jan. 9, 1947	  	July 13, 1955	  	Nov. 22, 1974
						
	Second Supplemental Indenture	  	Book	  	2537	  	1616	  	1765	  	1369
	  	Page	  	363	  	190	  	448	  	343
	  	Date	  	Mar. 16, 1948	  	Mar. 15, 1948	  	July 13, 1955	  	Nov. 22, 1974
						
	Third Supplemental Indenture	  	Book	  	4424	  	2311	  	1765	  	1369
	  	Page	  	535	  	116	  	475	  	370
	  	Date	  	Apr. 3, 1952	  	Apr. 3, 1952	  	July 13, 1955	  	Nov. 22, 1974
						
	Fourth Supplemental Indenture	  	Book	  	5193	  	2701	  	1765	  	1369
	  	Page	  	217	  	153	  	336	  	409
	  	Date	  	Apr. 2, 1954	  	Apr. 2, 1954	  	July 13, 1955	  	Nov. 22, 1974
						
	Fifth Supplemental Indenture	  	Book	  	5893	  	3304	  	1829	  	2369
	  	Page	  	291	  	205	  	3	  	456
	  	Date	  	Dec. 5, 1955	  	Dec. 5, 1955	  	Dec. 5, 1955	  	Nov. 22, 1974
						
	Sixth Supplemental Indenture	  	Book	  	6829	  	4099	  	2175	  	1369
	  	Page	  	390	  	109	  	538	  	492
	  	Date	  	Nov. 12, 1957	  	Nov. 12, 1957	  	Nov. 12, 1957	  	Nov. 22, 1974
						
	Seventh Supplemental Indenture	  	Book	  	1960 Series 1	  	5455	  	2780	  	1369
	  	Page	  	File No. 202061	  	385	  	3	  	541
	  	Date	  	Oct. 10, 1960	  	Oct. 10, 1960	  	Oct. 10, 1960	  	Nov. 22, 1974
						
	Eighth Supplemental Indenture	  	Book	  	1967 Series 8	  	8197	  	Endorsement	  	1369
	  	Page	  	File No. 33860	  	129	  	No. 20925	  	618
	  	Date	  	Mar. 13, 1967	  	Mar. 13, 1967	  	Mar. 13, 1967	  	Nov. 22, 1974
						
	Ninth Supplemental Indenture	  	Book	  	1968 Series 9	  	8691	  	 	  	1369
	  	Page	  	 	  	69	  	 	  	694
	  	Doc. No.	  	138926	  	9816	  	78781	  	 
	  	Date	  	Aug. 14, 1968	  	Aug. 14, 1968	  	Aug. 14, 1968	  	Nov. 22, 1974
						
	Tenth Supplemental Indenture	  	Book	  	1968 Series 9	  	8810	  	Endorsement	  	1369
	  	Page	  	 	  	375	  	No. 119982	  	706
	  	Doc. No.	  	215131	  	 	  	 	  	 
	  	Date	  	Dec. 9, 1968	  	Dec. 9, 1968	  	Dec. 9,1968	  	Nov. 22, 1974
						
	Eleventh Supplemental Indenture	  	Book	  	1970	  	9217	  	Endorsement	  	1369
	  	Page	  	 	  	516	  	No. 14780	  	725
	  	Doc. No.	  	27782	  	 	  	 	  	 
	  	Date	  	Feb. 16, 1970	  	Feb. 16, 1970	  	Feb. 16, 1970	  	Nov. 22, 1974
						
	Twelfth Supplemental Indenture	  	Book	  	File/Page	  	9810	  	Endorsement	  	1369
	  	Page	  	No. 212688	  	539	  	No. 106508	  	744
	  	Date	  	Sept. 20, 1971	  	Sept. 20, 1971	  	Sept. 20, 1971	  	Nov. 22, 1974
						
	Thirteenth Supplements Indenture	  	Book	  	File/Page	  	11055	  	Endorsement	  	1369
	  	Page	  	No. 74-006878	  	1	  	No. 3853	  	763
	  	Date	  	Jan. 10, 1974	  	Jan. 10, 1974	  	Jan. 10, 1974	  	Nov. 22, 1974

  

 3 

											
	Fourteenth Supplemental Indenture	  	Book	  	File/Page	  	11303	  	Endorsement	  	1369
	  	Page	  	No. 74-322156	  	458	  	No. 157219	  	1689
	  	Date	  	Dec. 11, 1974	  	Dec. 11, 1974	  	Dec. 11, 1974	  	Dec. 11, 1974
						
	Fifteenth Supplemental Indenture	  	Book	  	File/Page	  	11395	  	Instrument	  	1374
	  	Page	  	No. 755-108612	  	1879	  	No. 52617	  	809
	  	Date	  	May 7, 1975	  	May 7, 1975	  	May 7, 1975	  	May 7, 1975
						
	Sixteenth Supplemental Indenture	  	Book	  	File/ Page	  	11500	  	Instrument	  	1378
	  	Page	  	No. 75-235624	  	1620	  	No. 107732	  	952
	  	Date	  	Sept. 2, 1975	  	Sept. 2, 1975	  	Sept. 3, 1975	  	Sept. 2, 1975
						
	Seventeenth Supplemental Indenture	  	Book	  	File/Page	  	11815	  	Instrument	  	1389
	  	Page	  	No. 76-224493	  	640	  	No. 103484	  	687
	  	Date	  	July 16, 1976	  	July 16, 1976	  	July 16, 1976	  	July 16, 1976
						
	Eighteenth Supplemental Indenture	  	Book	  	File/Page	  	12110	  	Instrument	  	1398
	  	Page	  	No. 77-100483	  	58	  	No. 45619	  	1675
	  	Date	  	Mar. 18, 1977	  	Mar. 18, 1977	  	Mar. 18, 1977	  	Mar. 18, 1977
						
	Nineteenth Supplemental Indenture	  	Book	  	File/ Page	  	12672	  	Instrument	  	1415
	  	Page	  	No. 78-194210	  	1803-1822	  	No. 94450	  	1638
	  	Date	  	May 12, 1978	  	May 12, 1978	  	May 12, 1978	  	May 12, 1978
						
	Twentieth Supplemental Indenture	  	Book	  	File/Page	  	13530	  	Instrument	  	1448
	  	Page	  	No. 80-082569	  	722	  	No. 47195	  	1221
	  	Date	  	Mar. 11, 1980	  	Mar. 11, 1980	  	Mar. 11, 1980	  	Mar. 11, 1980
						
	Twenty-First Supplemental Indenture	  	Book	  	File/Page	  	13687	  	Instrument	  	1455
	  	Page	  	No. 80-245100	  	349	  	No. 139349	  	1660
	  	Date	  	Aug. 1, 1980	  	Aug. 1, 1980	  	Aug. 1, 1980	  	Aug. 1, 1980
						
	Twenty-Second Supplemental Indenture	  	Book	  	File/Page	  	Instrument	  	Instrument	  	1472
	  	Page	  	No. 81-22576	  	No. 24605	  	No. 135815	  	508
	  	Date	  	July 17, 1981	  	July 17, 1981	  	July 17, 1981	  	July 17, 1981
						
	Twenty-Third Supplemental Indenture	  	Book	  	File/Page	  	Instrument	  	Instrument	  	1479
	  	Page	  	No. 82-02387	  	No. 82-031423	  	No. 16093	  	1714
	  	Date	  	Jan. 27, 1982	  	Jan. 27, 1982	  	Jan. 27, 1982	  	Jan. 27, 1982
						
	Twenty-Fourth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1489
	  	Page	  	No. 82-257258	  	No. 82-291894	  	No. 82/143370212	  	 
	  	Date	  	Aug. 19, 1982	  	Aug. 19, 1982	  	Aug. 19, 1982	  	Aug. 19, 1982
						
	Twenty-Fifth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1489
	  	Page	  	No. 82-257259	  	No. 82-291895	  	No. 82-143371	  	236
	  	Date	  	Aug. 19, 1982	  	Aug. 19, 1982	  	Aug. 19, 1982	  	Aug. 19, 1982
						
	Twenty-Sixth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1489
	  	Page	  	No. 82-257260	  	No. 82-291896	  	No. 82/143372260	  	 
	  	Date	  	Aug. 19, 1982	  	Aug. 19, 1982	  	Aug. 19, 1982	  	Aug. 19, 1982
						
	Twenty-Seventh Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1503
	  	Page	  	No. 83-200545	  	No. 83-253901	  	No. 118670	  	743
	  	Date	  	June 15, 1983	  	June 15, 1983	  	June 15, 1983	  	June 15, 1983
						
	Twenty-Eighth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1505
	  	Page	  	No. 83-252396	  	No. 83-316224	  	No. 147671	  	583
	  	Date	  	July 22, 1983	  	July 22, 1983	  	July 22, 1983	  	July 22, 1983
						
	Twenty-Ninth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1508
	  	Page	  	83-339007	  	83-417956	  	194083	  	1425
	  	Date	  	Sept. 22, 1983	  	Sept. 22, 1983	  	Sept. 22, 1983	  	Sept. 22, 1983

  

 4 

															
	 	  	 	  	Counties of

	  	 	  	 	  	 	  	 
	 	  	 	  	Yuma

	  	Maricopa

	  	 	  	 	  	 	  	 
	Thirtieth Supplemental Indenture Consisting of Original and Twenty-Nine Supplemental Indentures thereto	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	  	Book	  	Docket 1352	  	File No.	  	 	  	 	  	 	  	 
	  	Page	  	272-1002	  	83-399354	  	 	  	 	  	 	  	 
	  	Book	  	Docket 1353	  	 	  	 	  	 	  	 	  	 
	  	Page	  	1-264	  	 	  	 	  	 	  	 	  	 
	  	Date	  	Sept. 28, 1983	  	Oct. 3, 1983	  	 	  	 	  	 	  	 
	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	  	 	  	 	  	 	  	 	  	 	  	 	  	 
			
	 	  	 Official
 Records

	  	Counties of

	 Document

	  	  	San Diego

	  	Orange

	  	Riverside

	  	Imperial

	  	Yuma

	  	Maricopa

	Thirty-First Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1520	  	Docket 1382	  	File No.
	  	Page	  	84-161897	  	84-180870	  	92011	  	1552	  	743-761	  	84-186813
	  	Date	  	5/2/84	  	5/2/84	  	5/2/84	  	4/30/84	  	4/30/84	  	5/2/84
								
	Thirty-Second Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1533	  	Docket 1413	  	File No.
	  	Page	  	84-466428	  	84-517843	  	267452	  	753	  	216-235	  	84-537706
	  	Date	  	12/14/84	  	12/14/84	  	12/14/84	  	12/14/84	  	12/14/84	  	12/14/84
								
	Thirty-Third Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1546	  	Docket 1450	  	File No.
	  	Page	  	85-323210	  	85-333505	  	198810	  	708	  	816	  	85-418309
	  	Date	  	9/4/85	  	9/4/85	  	9/4/85	  	9/4/85	  	9/4/85	  	9/4/85
								
	Thirty-Fourth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1550	  	Docket 1463	  	File No.
	  	Page	  	85-42465	  	85-481794	  	270136	  	1573	  	215	  	85-568874
	  	Date	  	12/2/85	  	12/2/85	  	12/2/85	  	12/3/85	  	12/3/85	  	12/2/85
								
	Thirty-Fifth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1562	  	Docket 1491	  	File No.
	  	Page	  	86-279922	  	86-290957	  	158161	  	549	  	639-657	  	86-347412
	  	Date	  	7/8/86	  	7/8/86	  	7/8/86	  	7/8/86	  	7/8/86	  	7/8/86
								
	Thirty-Sixth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1571	  	Docket 1512	  	File/Page
	  	Page	  	86-576027	  	86-606666	  	314771	  	240	  	5-24	  	86-680502
	  	Date	  	12/10/86	  	12/10/86	  	12/10/86	  	12/10/86	  	12/10/86	  	12/10/86
								
	Thirty-Seventh Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1588	  	Docket 1555	  	File/Page
	  	Page	  	87-532270	  	87-530266	  	273181	  	844	  	844	  	87-585903
	  	Date	  	9/21/87	  	9/21/87	  	9/21/87	  	9/21/87	  	9/21/87	  	9/21/87
								
	Thirty-Eighth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1646	  	Docket 1686	  	File/Page
	  	Page	  	90-217585	  	90-212277	  	146794	  	1280	  	92-120	  	88-176460
	  	Date	  	4/23/90	  	4/23/90	  	4/23/90	  	4/23/90	  	4/23/90	  	4/23/90
								
	Thirty-Ninth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	1687	  	Docket 1771	  	File/Page
	  	Page	  	91-632073	  	91-674397	  	425578	  	743	  	711-728	  	91-0574751
	  	Date	  	12/09/91	  	12/09/91	  	12/09/91	  	12/09/91	  	12/09/91	  	12/09/91
								
	Fortieth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket 1790	  	File/Page
	  	Page	  	92-185636	  	92-202372	  	115201	  	92-06577	  	954-970	  	92-0169646
	  	Date	  	4/1/92	  	4/1/92	  	4/1/92	  	4/1/92	  	4/1/92	  	4/1/92
								
	Forty-First Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket 1804	  	File/Page
	  	Page	  	92-0363471	  	92-393790	  	214904	  	92-011833	  	73-88	  	92-0317072
	  	Date	  	6/11/92	  	6/11/92	  	6/11/92	  	6/11/92	  	6/11/92	  	6/11/92
								
	Forty-Second Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket 1824	  	File/Page
	  	Page	  	92-0650893	  	92-692066	  	384167	  	92-21988	  	670-689	  	92-0575062
	  	Date	  	10/13/92	  	10/13/92	  	10/13/92	  	10/13/92	  	10/13/92	  	10/13/92
								
	Forty-Third Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket 1834	  	File/Page
	  	Page	  	92-0788665	  	92-845626	  	471625	  	92-27082	  	187-206	  	92-0700568
	  	Date	  	12/9/92	  	12/10/92	  	12/10/92	  	12/9/92	  	12/9/92	  	12/9/92
								
	Forty-Fourth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket 1859	  	File/Page
	  	Page	  	93-0257065	  	93-0277892	  	153382	  	93-009487	  	Fee 09300	  	93-0246725
	  	Date	  	4/27/93	  	4/27/93	  	4/27/93	  	4/27/93	  	4/27/93	  	4/26/93

  

 5 

															
	Forty-Fifth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket	  	File/Page
	  	Page	  	93-0395609	  	93-0420127	  	239922	  	93-14224	  	Fee 14413	  	93-0403060
	  	Date	  	6/23/93	  	6/23/93	  	6/23/93	  	6/23/93	  	6/23/93	  	6/23/93
								
	Forty-Sixth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket	  	File/Page
	  	Page	  	93-0474705	  	93-0496100	  	288868	  	93-17399	  	Fee 17163	  	93-0487598
	  	Date	  	7/26/93	  	7/26/93	  	7/27/93	  	7/27/93	  	7/27/93	  	7/27/93
								
	Forty-Seventh Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket	  	File/Page
	  	Page	  	95-0230457	  	95-0232951	  	175604	  	95-11739	  	246-264	  	95-0313576
	  	Date	  	6/01/95	  	6/01/95	  	6/01/95	  	6/01/95	  	6/01/95	  	6/01/95
								
	Forty-Eighth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket	  	File/Page
	  	Page	  	95-0230458	  	95-0232952	  	175605	  	95-11740	  	265-284	  	95-0343577
	  	Date	  	6/01/95	  	6/01/95	  	6/01/95	  	6/01/95	  	6/01/95	  	6/01/95
								
	Forty-Ninth Supplemental Indenture	  	Book	  	File/Page	  	File/Page	  	File/Page	  	Book/Page	  	Docket	  	File/Page
	  	Page	  	05-0038447	  	04-683110	  	04-0766976	  	04-021901	  	04-29663	  	04-941699
	  	Date	  	1/14/05	  	7/28/04	  	9/28/04	  	7/15/04	  	8/16/04	  	8/13/04

  
 WHEREAS, the Board of
Directors of the Company has duly authorized the creation of an additional series of bonds to be designated “First Mortgage Bonds, Series BBB, due 2035,” as hereinafter set forth in this Fiftieth Supplemental Indenture; and 
  
 WHEREAS, the execution and delivery of this Fiftieth Supplemental Indenture
has been duly authorized by resolution of the Board of Directors of the Company; and 
  
 WHEREAS, all the conditions and requirements necessary to make this Fiftieth Supplemental Indenture a valid, binding and legal instrument in accordance with its terms and for the purposes herein expressed have been
performed and fulfilled and the execution and delivery hereof have been in all respects duly authorized. 
  
 NOW, THEREFORE, in order further to secure the payment of the principal of and interest on all of the bonds of the Company at any time outstanding under
the Original Indenture, as from time to time amended and supplemented (the “Indenture”) and to secure the performance and observance of each and every of the covenants and agreements of the Indenture, as from time to time amended
and supplemented, and for and in consideration of the premises, and of the sum of One Dollar ($1.00) to the Company duly paid by the Trustee (the receipt whereof is hereby acknowledged), the Company has executed and delivered this Fiftieth
Supplemental Indenture and has granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, hypothecated, granted a security interest in, set over and confirmed, and by these presents does grant, bargain, sell,
warrant, release, convey, assign, transfer, mortgage pledge, hypothecate, grant a security interest in, set over and confirm unto U.S. Bank National Association, as Trustee, and to its respective successors in said trust forever, with power of sale,
all property, real, personal and mixed, now owned or hereafter acquired or to be acquired by the Company, and wheresoever situated (except such property as is expressly excepted or excluded from the lien and security interest of the Indenture, and
property of a successor corporation or corporations excluded from the lien and security interest thereof by the provisions of Section 3 of Article XIV thereof) subject to the rights reserved by the Company in and by other provisions of the
Indenture, including in the property subject and to be subject to the lien and security interest thereof and hereof (without in any manner limiting or impairing by the enumeration of the same scope and intent of the foregoing or of any general
description contained in the Original Indenture or in this or any other supplemental indenture) all lands, rights-of-way, other land rights, flowage and other water rights, power houses, dams, reservoirs, docks, roads, and buildings, structures and
other land improvements; steam, and other electric generating plants, including buildings and other structures, turbines, generators, exciters, boilers and other boiler plant equipment, condensing equipment, and all auxiliary equipment; stations and
substations; electric transmission and distribution systems, including structures, poles, towers, fixtures, conduits, insulators, wires, cables, transformers, services and meters; steam heating plants and systems, including mains and equipment, gas
plants, transmission and distribution systems, including pipe lines, structures, tanks, mains, compressor stations, purifier stations, pressure holders, governors, services and meters; communication systems, office, shop and other buildings and
structures, and equipment; apparatus and equipment and materials and supplies of all other kinds and descriptions; and all municipal and other franchises, leaseholds, licenses, permits, and privileges; 
  

 6 

 TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or in any wise
appertaining to the aforesaid property or any part thereof with the reversion and reversions, remainder and remainders, tolls, rents and revenues, issues, income, proceeds, product and profits thereof, and all the estate, right, title and interest
and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid property and every part and parcel thereof (except such property as is expressly excepted or excluded from the lien and
security interest of the Indenture, and property of a successor corporation or corporations excluded from the lien and security thereof by the provisions of Section 3 of Article XIV thereof), subject to the rights reserved by the Company in and by
other provisions of the Indenture; 
  
 It is hereby agreed by the
Company that, except as aforesaid, all the property, rights, and franchises acquired by the Company after the date hereof shall be as fully embraced within the lien and security interest hereof as if such property were now owned by the Company and
were specifically described herein and conveyed and a security interest therein granted hereby; 
  
 SAVING AND EXCEPTING, HOWEVER, anything to the contrary notwithstanding contained herein or in the granting clauses of the Original Indenture and said
Supplemental Indentures (a) such property described or referred to in any of such granting clauses as has been from time to time, released or sold free from the lien and security interest of the Original Indenture (or the Original Indenture, as
supplemented) in accordance and compliance with the provisions thereof (or of the Original Indenture, as supplemented, as the case may be), and (b) all of the following property (whether now owned by the Company or hereafter acquired by it): (1) all
gas, electric energy and steam produced, purchased or otherwise acquired; (2) all contracts, choses in action, shares of stock, bonds, notes, evidences of indebtedness, and other securities, other than any of the foregoing which maybe required to be
deposited from time to time with the Trustee in accordance with the provisions of the Indenture or are required by some express provision thereof to be deposited with the Trustee; (3) merchandise and appliances at any time acquired for the purpose
of sale or lease to customers and others and contracts for the sale of merchandise and appliances; (4) motor vehicles; (5) timber on land owned by the Company; (6) minerals or mineral rights in lands owned by the Company; (7) oil, coal or gas, or
oil, coal or gas rights in land owned by the Company or gas wells or oil wells or equipment therefore or coal mines or equipment therefore; (8) fuel and other personal property which are consumable in their use in the operation of the properties of
the Company; (9) bills and accounts receivable; (10) cash on hand and in banks other than such cash as may be deposited from time to time with the Trustee in accordance with the provisions of the Indenture or as is required by some express provision
thereof to be deposited with the Trustee; and (11) the last day of the term of each leasehold estate now or hereafter enjoyed by the Company. The Company may, however, expressly subject to the lien and security interest and operation of the Original
Indenture and all indentures supplemental thereto all or any part of the property of the character described in clause (b) of this paragraph; 
  
 TO HAVE AND TO HOLD all said properties, real, personal and mixed, mortgaged, pledged, or conveyed and in which a security interest has been granted by
the Company as aforesaid, or intended so to be, unto the Trustee and its successors and assigns forever, subject, however, to Permitted Liens as defined in the Indenture; 
  
 IN TRUST NEVERTHELESS, for the equal pro rata benefit and security as provided in the Original Indenture and all indentures
supplemental thereto of all and every of the bonds issued and to be issued in accordance with the provisions of the Original Indenture and all indentures supplemental thereto, without preference priority or distinction as to lien or security
interest of any over the others by reason of priority in time of the issue, negotiation or maturity thereof, subject, however, to the provisions of the Original Indenture and all indentures supplemental thereto relating to any sinking fund or
similar fund for the benefit of the bonds of any particular series; 
  

 7 

 The Company does further covenant and agree with the Trustee as follows: 
  
 ARTICLE I 
 SERIES BBB BONDS 
  
 Section 1: There is hereby created, for issuance under the Original Indenture as supplemented by the said Supplemental Indentures (including this Fiftieth Supplemental Indenture), a series of bonds designated
Series BBB, due 2035, each of which shall bear the descriptive title “First Mortgage Bonds, Series BBB, due 2035” (herein sometimes referred to as “Series BBB Bonds”), and the form thereof shall contain suitable provisions
with respect to the matters hereinafter in this Section specified. The Series BBB Bonds shall mature on May 15, 2035 and shall be issued in denominations of $1,000 and integral multiples thereof as the Company may from time to time execute and
deliver. The Series BBB Bonds shall bear interest at the rate and from the date, shall be expressed to mature as to principal, and shall be payable as to principal and interest at such place or places and in such money, all as provided in the form
of Series BBB Bond set forth on Exhibit A hereto (the “Form of Bond”) and by the applicable provisions of the Indenture. In addition, May 19, 2005 shall be an Interest Payment Date for the Series BBB Bonds for purposes of
Section 9 of Article II of the Indenture, provided that no interest shall be payable on such date. Both the principal and interest on the Series BBB Bonds shall be payable at the corporate trust office of the Trustee in the City and County of
San Francisco, State of California. The Series BBB Bonds shall be dated as in Section 9 of Article II of the Indenture provided with respect to registered bonds without coupons. 
  
 The Series BBB Bonds shall further be redeemable, exchangeable, transferable and otherwise have the terms set forth in the
Form of Bond. 
  
 The Series BBB Bonds shall otherwise be of such
terms, provisions, tenor and form as provided in this Fiftieth Supplemental Indenture. 
  
 Section 2: The Series BBB Bonds shall be executed, authenticated and delivered in accordance with the provisions and shall be entitled to the protection and security, of the Original Indenture supplemented by
this Fiftieth Supplemental Indenture and the other supplemental indentures, and shall be subject to all of the terms, conditions and covenants and limitations thereof. The aggregate principal amount of the Series BBB Bonds, which may be executed by
the Company and authenticated and delivered by the Trustee and secured by the Indenture as from time to time in effect, is limited only to the extent provided in Section 1 of Article II of the Original Indenture. 
  
 Section 3: The Series BBB Bonds shall be issued only as fully
registered bonds without coupons. The fully registered bonds without coupons and the certificate of authentication to be endorsed on all Series BBB Bonds shall be substantially in the form set forth on the Form of Bond. In addition, the Series BBB
Bonds may be issuable in whole or in part in the form of one or more securities that evidences all or part of the bonds of such series which is issued to a depository or a nominee thereof for such series (a “Global Security”) and,
in such case, the Board of Directors of the Company shall appoint a clearing agency registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), designated to act as depositary (a
“depositary”) for such Global Securities. The definitive Series BBB Bonds shall be numbered in such manner as the Company shall at any time or from time to time determine. 
  
 Section 4: In the event the Series BBB Bonds are issued as a Global
Security the following provisions, in addition to the provisions of the Indenture, shall apply: 
  
 (1) Each Global Security authenticated under the 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 bond for all purposes of this Supplemental Indenture. 
  
 (2) Notwithstanding any other provision in this Supplemental Indenture, no
Global Security may be exchanged in whole or in part for bonds 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 (A) such depositary has notified the Company that it is unwilling or unable to continue as depositary for such Global Security and a successor depositary has not been appointed by the Company within 90 days of receipt by the Company of such
notification, (B) if at any time the depositary ceases to be a clearing agency registered under the Exchange Act at a time when the depositary is required to be so registered to act as such depositary and no successor depositary shall have been
appointed by the Company within 90 days after it became aware of such cessation, (C) the Company, in its 

  

 8 

 
sole discretion, executes and delivers to the Trustee a written order signed in the name of the Company by its Chairman of the Board, its President or a Vice
President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary to the effect that such Global Security, together with all other Global Securities of the same series, shall be exchangeable as described below, or (D)
a “completed default” (as defined in the Indenture) has occurred and is continuing with respect to the Series BBB Bonds. If any of the events described in clauses (A) through (D) of the preceding sentence occur, the beneficial owners of
interests in the relevant Global Securities will be entitled to exchange those interests for definitive bonds and, without unnecessary delay but in any event not later than the earliest date on which those interests may be so exchanged, the Company
will deliver to the Trustee definitive bonds in such form and denominations as are required by or pursuant to this Indenture, and of the same series, containing identical terms and in an aggregate principal amount equal to the principal amount of
such Global Securities, such bonds to be duly executed by the Company. On or after the earliest date on which such beneficial interests may be so exchanged, such Global Securities shall be surrendered from time to time by the depositary as shall be
specified in the order from the Company with respect thereto (which the Company agrees to deliver), and in accordance with any instructions given to the Trustee and the depositary (which instructions shall be in writing but need not be contained in
or accompanied by an officers’ certificate or be accompanied by an opinion of counsel), as shall be specified in the order from the Company with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in
whole or in part, for definitive bonds as described above without charge. The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered Global Security, a like aggregate principal amount of
definitive bonds of the same series of authorized denominations and of like tenor as the portion of such Global Security to be exchanged. Promptly following any such exchange in part, such Global Security shall be returned by the Trustee to such
depositary or its custodian. If a definitive bond is issued in exchange for any portion of a Global Security after the close of business at the place where such exchange occurs on or after (i) any regular record date for the date the interest is due
(the “Interest Payment Date”) for such bond and before the opening of business at that place of payment on the next Interest Payment Date, or (ii) any special record date for the payment of interest for such bond and before the
opening of business at such place of payment on the related proposed date for the payment of the interest which was not punctually paid or duly provided for on any Interest Payment Date, as the case may be, interest shall not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in respect of such definitive bond, but shall be payable on the Interest Payment Date or proposed date for payment, as the case may be, only to the person to whom interest in
respect of such portion of such Global Security shall be payable in accordance with the provisions of this Indenture. 
  
 (3) Subject to Clause (2) above, any exchange or transfer of a Global Security for other bonds may be made in whole or in part, and all bonds issued in
exchange for or upon transfer of a Global Security or any portion thereof shall be registered in such names as the depositary for such Global Security shall direct. 
  
 (4) Every bond authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global
Security or any portion thereof, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such bond is registered in the name of a person other than the depositary for such Global Security or a nominee thereof.

  
 (5) Unless otherwise specified as contemplated by Section 1 of
Article I of this Supplemental Indenture for the bonds evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 
  
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED
TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF HAS AN INTEREST HEREIN. 
  
 Section 5: The Series
BBB Bonds may contain or have imprinted thereon such provisions or specifications not inconsistent with the Indenture as may be required to comply with the rules of any stock exchange or any federal or 

  

 9 

 
state authority or commission, or to comply with usage with respect thereto, and may bear such other appropriate endorsements or notations as are authorized
or permitted by the Indenture. 
  
 Section 6: In the manner
and subject to certain conditions and limitations specified herein and in the Indenture, Series BBB Bonds may be exchanged without a service charge for a like aggregate principal amount of such Series BBB Bonds of other authorized denomination or
denominations; provided that the Company may require payment of a sum or sums sufficient to reimburse it for any stamp tax or other governmental charge payable in connection therewith. 
  
 Section 7: The Company shall maintain in the City and County of San
Francisco, State of California, and in such other place or places as the Company may designate at any time or from time to time, an office or agency where Series BBB Bonds may be presented for payment, registration, transfer and exchange as provided
therein or in the Indenture. Such office or agency in the City and County of San Francisco shall be the corporate trust office of the Trustee unless and until the Company shall designate another office or agency by notice in writing delivered to the
Trustee. Notwithstanding the foregoing, if and when definitive bonds are issued, the Company shall maintain in the Borough of Manhattan, City and County of New York, State of New York, an office or agency where Series BBB Bonds may be presented for
payment, registration, transfer and exchange as provided therein or in the Indenture. 
  
 Section 8: No transfer or exchange of any Series BBB Bonds pursuant to any of the provisions of this Article I shall be made except upon and in accordance with all of the applicable terms, provisions and
conditions of said bonds and of the Indenture. 
  
 ARTICLE II

 MISCELLANEOUS PROVISIONS 
  
 Section 1: This instrument is executed and shall be construed as an indenture supplemental to the Original Indenture and shall form a part thereof
and, as supplemented by this Fiftieth Supplemental Indenture, the Original Indenture as heretofore supplemented and amended is hereby confirmed. 
  
 Section 2: All terms used in this Fiftieth Supplemental Indenture shall be taken to have meaning as in the Original Indenture, as heretofore
supplemented and amended, except terms which may be otherwise expressly defined herein and in cases where the context clearly indicates otherwise. 
  
 Section 3: In order to facilitate the filing of this Fiftieth Supplemental Indenture the same may be executed in several counterparts each of
which, when so executed, shall be deemed to be an original, but such counterparts shall constitute but one and the same instrument. 
  
 Section 4: All of the covenants, stipulations, promises and agreements in this Fiftieth Supplemental Indenture by or on behalf of the Company shall
bind its successors and assigns, whether so expressed or not. 
  
 Section 5: To the extent any provision in this Supplemental Indenture conflicts with any provision in the Indenture, the provisions of this Supplemental Indenture shall govern; provided, however, that in the event such
conflict would require bondholder consent, the terms and provisions of the Indenture shall govern. 
  
 Section 6: The Original Indenture, insofar as it applies to the Series BBB Bonds, this Supplemental Indenture and the Series BBB Bonds shall be
governed by and construed in accordance with the laws of the State of California, without regard to conflicts of laws principles thereof. 
  
 {Signature Page Follows} 
  

 10 

 IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this Fiftieth Supplemental Indenture
to be signed in its name and behalf by its duty authorized officer and its corporate seal to be hereunto affixed duly attested by its Secretary or one of its Assistant Secretaries, and U.S. BANK NATIONAL ASSOCIATION, to evidence its acceptance of
the trusts hereby created, has caused this Fiftieth Supplemental Indenture to be signed in its name and behalf by its duly authorized officer as of the day and year first above written. 
  

			
	 SAN DIEGO GAS & ELECTRIC COMPANY

		
	 By:
	 	 /s/    TERRY M. FLESKES

	 Name:
	 	Terry M. Fleskes
	 Title:
	 	Vice President and Treasurer

  

			
	 Attest:

		
	 By:
	 	 /s/    THOMAS C. SANGER

	 Name:
	 	Thomas C. Sanger
	 Title:
	 	Secretary

  

			
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	 By:
	 	 /s/    FONDA HALL

	 Name:
	 	Fonda Hall
	 Title:
	 	Vice President

  

					
	 STATE OF CALIFORNIA
	  	)	  	 
	 	  	)	  	ss
	 COUNTY OF SAN DIEGO
	  	)	  	 

  
 On May 17, 2005,
before me, Loida C. Morrison, a Notary Public, in and for said County and State, personally appeared Terry M. Fleskes, a Vice President and the Treasurer, and Thomas C. Sanger, the Secretary, of SAN DIEGO GAS & ELECTRIC COMPANY, personally known
to me (or proved to me on the basis of satisfactory evidence) to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their signatures on
the instrument the entity upon behalf of which they acted, executed the instrument. 
  

			
	 WITNESS my hand and official seal.
	 	/s/    LOIDA C. MORRISON        
	 	 	[Notary Seal]

  

					
	 STATE OF CALIFORNIA
	  	)	  	 
	 	  	)	  	ss
	 COUNTY OF LOS ANGELES
	  	)	  	 

  
 On May 18, 2005,
before me, Laura Corral, a Notary Public, in and for said County and State, personally appeared Fonda Hall of U.S. BANK NATIONAL ASSOCIATION, personally known to me (or proved to me on the basis of satisfactory evidence to be the person whose name
is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacities, and that by his/her signature on the instrument the entity upon behalf of which he/she acted, executed the instrument.

  

			
	 WITNESS my hand and official seal.
	 	/s/    LAURA CORRAL        
	 	 	[Notary Seal]

  

  
 EXHIBIT A 

 
 FORM OF BOND 
  
 (Attached) 
  

  
 Exhibit 4.2 

 
 [If this bond is issued as a global security, insert the following legend: THIS SECURITY
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF
THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.] 
  
 SAN DIEGO GAS & ELECTRIC COMPANY 
 (INCORPORATED UNDER THE LAWS OF THE STATE
OF CALIFORNIA) 
  
 5.35% FIRST MORTGAGE BOND, 
 SERIES BBB, DUE 2035 
  

			
	 No.     
	 	$                        

  
 SAN DIEGO GAS &
ELECTRIC COMPANY, a corporation organized and existing under the laws of the State of California (hereinafter called the “Company”, which term shall include any successor corporation, as defined in the Indenture hereinafter referred
to), for value received, hereby promises to pay to
                                        
                                        
                 [If this bond is issued as a global security, insert “CEDE & CO.” in the foregoing space] or registered assigns, the principal sum
of
                                         in
lawful money of the United States of America, on the fifteenth day of May, 2035, and to pay interest thereon from the date of this bond, at the rate of 5.35% per annum in like lawful money, payable semi-annually, on the fifteenth day of May and
November in each year, to the holder of record of this bond on the immediately preceding first day of May and November, respectively, commencing November 15, 2005, until the Corporation’s obligation with respect to the payment of such principal
shall be discharged as provided in the Indenture hereinafter mentioned. Both the principal of and interest on this bond will be paid at the corporate trust office of U.S. Bank National Association, or its successor trustee under said Indenture, in
the City and County of San Francisco, State of California [if this bond is a definitive bond, insert: “, or at the office or agency in the Borough of Manhattan, City and County of New York, State of New York, that the Corporation maintains for
such purpose”]. Notwithstanding the foregoing, so long as the holder of this bond is a depositary, or its nominee, payment of the principal of (and premium, if any) and interest on this bond will be made by wire transfer of immediately
available funds. 
  
 The provisions of this bond are continued
following the signature blocks below and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 
  
 This bond shall not be valid or become obligatory for any purpose unless and until U.S. BANK NATIONAL ASSOCIATION, as Trustee under the Indenture, as
amended, or its successor thereunder, shall have signed the certificate of authentication endorsed hereon. 
  
 IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this instrument to be executed in its name by the signature or facsimile signature of
its President or any Vice President and its corporate seal, or a facsimile thereof to be hereto affixed and attested by the signature or facsimile signature of its Secretary or any Assistant Secretary. 
  

									
	 Dated:
                                
	 	 	 	 SAN DIEGO GAS & ELECTRIC COMPANY

					
	 	 	 	 	 	 	By: 	 	 
	 	 	 	 	 	 	 	 	President or Vice President
			
	 (CORPORATE SEAL)
	 	 	 	 
			
	 Attest:
	 	 	 	 
				
	 	 	 	 	 	 	 
	Secretary or Assistant Secretary	 	 	 	 	 	 

  

 This bond is one of a duly authorized issue of bonds of the Company, known as its First Mortgage Bonds,
of the series and designation indicated on the face hereof (the “Series BBB Bonds”), all issued and to be issued under and equally secured by a Mortgage and Deed of Trust dated July 1, 1940, and indentures supplemental thereto,
including the Fiftieth Supplemental Indenture dated as of May 19, 2005 (which Mortgage and Deed of Trust, as so supplemented, is herein called the “Indenture”) executed by the Company to U.S. Bank National Association, as Trustee
(herein called the “Trustee”), to which Indenture reference is hereby made for a description of the property mortgaged, pledged, hypothecated and in which a security interest was granted, the nature and extent of the security, the
rights of the holders of the Series BBB Bonds as to such security, and the terms and conditions upon which the Series BBB Bonds may be issued under the Indenture and are secured. The principal hereof may be declared or may become due on the
conditions, in the manner and at the time set forth in the Indenture, upon the happening of a completed default as in the Indenture provided. 
  
 With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the Company or of the
holders of the Series BBB Bonds, or the terms and provisions of the Indenture or of any indentures supplemental thereto, may be modified or altered by the affirmative vote of the holders of the percentage of principal amount of bonds required by the
Indenture; provided, however, that without the consent of the holder hereof no such modification or alteration shall permit the reduction of the principal or the extension of the maturity of the principal of this bond, or the reduction
of the rate of interest hereon, or any other modification of the terms of payment of such principal or interest. 
  
 The Company, the Trustee, any paying agent, any registrar, and any depositary may deem and treat the person in whose name this bond is registered as the
absolute owner hereof for the purpose of receiving payment of or on account of the principal hereof and interest hereon and for all other purposes and shall not be affected by any notice to the contrary. 
  
 All or a portion of the Series BBB Bonds may be redeemed at the
Company’s option at any time or from time to time. 
  
 The
price at which the Series BBB Bonds will be redeemed (the “Redemption Price”) on the date fixed for such redemption (the “Redemption Date”) will be equal to the greater of the following amounts: (a) 100% of the
principal amount of the Series BBB Bonds being redeemed on the Redemption Date; or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the Series BBB Bonds being redeemed on that Redemption Date (not
including any portion of any payments of accrued and unpaid interest to the Redemption Date) discounted to the Redemption Date on a semiannual basis at the Adjusted Treasury Rate (as defined below) plus 15 basis points, as determined by a Reference
Treasury Dealer (as defined below), plus, in each case, accrued and unpaid interest thereon to the Redemption Date. Notwithstanding the foregoing, installments of interest on Series BBB Bonds that are due and payable on Interest Payment Dates
falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered holders of such Series BBB Bonds as of the close of business on the relevant record date. The Redemption Price will be calculated on the basis of
a 360-day year consisting of twelve 30-day months. 
  
 As more
fully provided in and subject to the provisions of the Indenture, the Series BBB Bonds are also subject to redemption on any date, under certain circumstances specified in Section 13 of Article XI of the Indenture in case of the disposition of
certain properties of the Company, at 100% of the principal amount thereof, together with accrued interest thereon. 
  
 Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each registered holder of the Series BBB
Bonds to be redeemed. Once notice of redemption is mailed, the Series BBB Bonds called for redemption will become due and payable on the Redemption Date and at the applicable Redemption Price, plus accrued and unpaid interest to the Redemption Date.
Redemption will not be conditional upon receipt by the Trustee of monies sufficient to pay the Redemption Price. 
  
 Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on the Series BBB Bonds or
portions thereof called for redemption. The Company will pay the Redemption Price and any accrued interest once the Series BBB Bonds are surrendered for redemption. If only a portion of the Series BBB Bonds are redeemed, the Trustee will deliver new
Series BBB Bonds for the remaining portion without charge. 
  

 “Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per annum
equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption
Date. 
  
 “Comparable Treasury Issue” means the
United States Treasury security selected by the Reference Treasury Dealer as having a maturity comparable to the remaining term of the Series BBB Bonds to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Series BBB Bonds. 
  
 “Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for
such Redemption Date, or (B) if only one Reference Treasury Dealer Quotation is received, such Quotation. 
  
 “Reference Treasury Dealer” means (A) either Goldman, Sachs & Co. or UBS Securities LLC (or their affiliates which are Primary
Treasury Dealers) and their successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will
substitute therefor another Primary Treasury Dealer; or (B) any other Primary Treasury Dealer(s) selected by the Company. 
  
 “Reference Treasury Dealer Quotation” means, with respect to any Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m. (New York City
time) on the third business day preceding such Redemption Date. 
  
 In the event that the Company elects to redeem only a portion of the Series BBB Bonds, the bonds to be redeemed shall be selected in accordance with the procedures of The Depository Trust Company, in the case of bonds represented by a
global security, or by the Trustee by a method the Trustee deems to be fair and appropriate, in the case of bonds that are not represented by a global security. 
  

This bond is transferable as prescribed in the Indenture by the registered owner hereof in person, or by his duty authorized attorney, at the corporate
trust office of the Trustee in the City and County of San Francisco, State of California, upon surrender and cancellation of this bond and thereupon a new registered bond of the same series and principal amount will be issued to the transferee in
exchange therefor as provided in the Indenture, upon payment of any tax or taxes or other governmental charges required to be paid by the Company by reason of such transfer. 
  
 The registered owner of any Series BBB Bond, at the option of such holder, may surrender the same, accompanied by a written
instrument of transfer in form approved by the Company duly executed by the registered owner, at the corporate trust office of the Trustee in the City and County of San Francisco, State of California, for cancellation in exchange for another or
other registered bonds of the said series of higher or lower authorized denominations of an aggregate principal amount equal to the aggregate principal amount of the bond or bonds so surrendered and bearing interest as provided in Section 9 of
Article II of the Indenture, and upon payment of any tax or taxes or other governmental charges required to be paid by the Company by reason of such exchange and subject to the terms and conditions specified in the Indenture, thereupon the Company
shall execute and deliver to the Trustee and the Trustee shall authenticate and deliver such other bonds to such registered owner at its office or at such agency of the Company, at the option of such registered owner. 
  
 No recourse shall be had for the payment of the principal of (or premium, if
any) or the interest on this bond, or any part thereof, or of any claim based herein or in respect hereof or of said Indenture, against any incorporator, or any past, or future stockholder, officer or director, as such, of the Company or of any
predecessor or successor corporation, either directly or through the Company, or through any such predecessor or successor corporation, or through any receiver or a trustee in bankruptcy, whether, by virtue of any constitution, statute or rule of
law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof expressly waived and released, as more fully provided in the Indenture.

  

 ******************* 
  
 This bond is one of the bonds of the Series designated therein, described in the within-mentioned Indenture 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
As Trustee

		
	By	 	 
	 	 	Authorized Officer

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