Document:

Nodes Purchase Agreement dated as of April 14, 2011

 EXHIBIT 4.18 
 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH
THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 
 EXECUTION COPY 
  

 
  

NODES PURCHASE AGREEMENT 
 by and among 
 ALESTRA, S. de R.L. de C.V., 

ALFA, S.A.B. de C.V., 
 AT&T GLOBAL NETWORK SERVICES MEXICO, S. de R.L. de C.V. 
 and

 AT&T CORP. 
  

 
 Dated as of
April 14, 2011 
  
  

 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 
 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	ARTICLE I DEFINITIONS	  	 	2	  
			
	 1.1
	 	Certain Definitions	  	 	2	  
			
	 1.2
	 	Terms Defined Elsewhere in this Agreement	  	 	4	  
			
	 1.3
	 	Other Definitional and Interpretive Matters	  	 	4	  
		
	ARTICLE II SALE AND PURCHASE OF NODES, PURCHASE PRICE; CLOSING	  	 	5	  
			
	 2.1
	 	Sale and Purchase of Nodes	  	 	5	  
			
	 2.2
	 	Purchase Price	  	 	6	  
			
	 2.3
	 	Payment of Purchase Price	  	 	6	  
			
	 2.4
	 	Closing Date	  	 	6	  
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES RELATING TO THE SELLER	  	 	6	  
			
	 3.1
	 	Organization and Good Standing	  	 	6	  
			
	 3.2
	 	Authorization of Agreement	  	 	6	  
			
	 3.3
	 	Conflicts; Consents of Third Parties	  	 	7	  
			
	 3.4
	 	Title to the Nodes	  	 	7	  
			
	 3.5
	 	Functionality of the Nodes	  	 	7	  
			
	 3.6
	 	Litigation	  	 	7	  
			
	 3.7
	 	Financial Advisors	  	 	7	  
		
	ARTICLE IV [INTENTIONALLY OMITTED]	  	 	7	  
		
	ARTICLE V REPRESENTATIONS AND WARRANTIES OF PURCHASER	  	 	8	  
			
	 5.1
	 	Organization and Good Standing	  	 	8	  
			
	 5.2
	 	Authorization of Agreement	  	 	8	  
			
	 5.3
	 	Conflicts; Consents of Third Parties	  	 	8	  
			
	 5.4
	 	Litigation	  	 	9	  
			
	 5.5
	 	Financial Advisors	  	 	9	  
			
	 5.6
	 	Non-Reliance of Purchaser	  	 	9	  

  
 i 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 
 TABLE OF CONTENTS 
 (continued) 

 

							
	 	  	 	  	Page	 
		
	ARTICLE VI COVENANTS	  	 	9	  
			
	 6.1
	  	Governmental Consents and Approvals	  	 	9	  
			
	 6.2
	  	Further Assurances	  	 	10	  
			
	 6.3
	  	Certain Accounts Receivable	  	 	10	  
			
	 6.4
	  	Certain Capital Expenditures	  	 	11	  
			
	 6.5
	  	Notification of Certain Matters	  	 	11	  
			
	 6.6
	  	Publicity	  	 	11	  
		
	ARTICLE VII CONDITIONS TO CLOSING	  	 	12	  
			
	 7.1
	  	Conditions Precedent to Obligations of Purchaser	  	 	12	  
			
	 7.2
	  	Conditions Precedent to Obligations of the Seller	  	 	13	  
		
	ARTICLE VIII INDEMNIFICATION	  	 	13	  
			
	 8.1
	  	Survival of Representations and Warranties	  	 	13	  
			
	 8.2
	  	Indemnification	  	 	13	  
		
	ARTICLE IX TERMINATION	  	 	14	  
			
	 9.1
	  	Termination of Agreement	  	 	14	  
			
	 9.2
	  	Procedure Upon Termination	  	 	15	  
			
	 9.3
	  	Effect of Termination	  	 	15	  
		
	ARTICLE X MISCELLANEOUS	  	 	16	  
			
	 10.1
	  	Taxes and Expenses	  	 	16	  
			
	 10.2
	  	Specific Performance	  	 	16	  
			
	 10.3
	  	Arbitration; Submission to Jurisdiction; Consent to Service of Process; Waiver of Jury Trial	  	 	16	  
			
	 10.4
	  	Entire Agreement; Amendments and Waivers	  	 	18	  
			
	 10.5
	  	Governing Law	  	 	18	  
			
	 10.6
	  	Notices	  	 	18	  
			
	 10.7
	  	Severability	  	 	20	  
			
	 10.8
	  	Binding Effect; Assignment	  	 	20	  

  
 ii 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 
 TABLE OF CONTENTS 
 (continued) 

 

							
	 	  	 	  	Page	 
			
	 10.9
	  	No Recourse Against Non-Parties	  	 	20	  
			
	 10.10
	  	Language	  	 	20	  
			
	 10.11
	  	Counterparts	  	 	21	  
			
	 10.12
	  	Exclusivity of Agreement	  	 	21	  

  
 iii

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 
 NODES PURCHASE AGREEMENT 
 This NODES PURCHASE AGREEMENT, dated
April 14, 2011 (the “Agreement”), by and among Alestra, S. de R.L. de C.V., a company incorporated under the laws of Mexico (the “Seller”), Alfa, S.A.B. de C.V., a company incorporated under the
laws of Mexico (“Alfa”), AT&T Global Network Services Mexico, S. de R.L. de C.V., a company incorporated under the laws of Mexico (the “Purchaser”), and AT&T Corp., a company incorporated under
the laws of the state of New York (“AT&T” and together with the Purchaser, the “AT&T Parties”). 
 W I T N E S S E T H: 
 WHEREAS, AT&T has deployed infrastructure for
the AT&T Global Network (“AGN”) in countries around the world to enable AT&T, directly or indirectly through its affiliates, resellers and local service providers, to provide AT&T global seamless services to its
business customers with locations worldwide; 
 WHEREAS, the Purchaser and Alfa, together with other parties, formed the
Seller in October 1995 and entered into that certain Second Amended and Restated Joint Venture Agreement, dated as of October 17, 1996 (as amended, the “JVA”), among Purchaser, Alfa and the other parties thereto;

 WHEREAS, since January 1997, the Seller has continuously provided telecommunication services in Mexico; 

WHEREAS, on February 13, 2003, AT&T, Alfa and the other parties thereto entered into an AGN Principles Agreement in which
the parties thereto agreed to analyze the feasibility of a specific proposal to deploy the AGN, to deliver AT&T Global Services to customers in Mexico through the Seller and to authorize the Seller to market, sell and provision AT&T Global
Services in Mexico as an affiliate of AT&T (in spite of the Seller not being a controlled affiliate of AT&T); 

WHEREAS, following such analysis, in August of 2004, AT&T and the Seller entered into the AT&T Global Network Cooperation
Agreement, which terminated as of June 30, 2010; 
 WHEREAS, AT&T and the Seller entered into a new AT&T
Global Network Cooperation Agreement, effective as of July 1, 2010 (as amended, the “AGN Agreement”), which has a scheduled termination date of June 30, 2013 including certain provisions related to the continuation
of the services beyond that date during a certain wind down period; 
 WHEREAS, AT&T (on behalf of itself and the
Purchaser), the Seller and Alfa have entered into a Non-Binding Memorandum of Understanding, dated as of December 17, 2010 (the “MOU”), whereby the parties have agreed to materially alter their relationship; 

WHEREAS, to accomplish the objectives of the MOU, on the date hereof, (i) the Purchaser, AT&T, Alfa and the Seller have
entered into this Agreement pursuant to which the Purchaser will purchase from the Seller the Nodes (as defined below) and (ii) the Seller, the AT&T Parties and Alfa have entered into the Equity Purchase Agreement (the “Equity
 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
Purchase Agreement”) pursuant to which Alfa will purchase all the equity interest in the Seller that is owned by the Purchaser; 

WHEREAS, at the Closing of this Agreement, the Seller and the Purchaser desire to enter into the Equipment Lease Agreement in
substantially the form set forth on Exhibit A (the “Equipment Lease Agreement”); 

WHEREAS, at the time contemplated in the Equipment Lease Agreement, the Seller and the Purchaser desire to enter into (A) the
Lease and Services Agreements in substantially the forms set forth on Exhibit B with respect to certain of Seller’s facilities in Mexico City, Guadalajara, Tijuana and Monterrey (the “Lease and Services
Agreements”), (B) the Transition Services Agreement in substantially the form set forth on Exhibit C (the “Transition Services Agreement”), (C) the Wholesale Interconnection and Access Services
Agreement in substantially the form set forth on Exhibit D (the “Wholesale Agreement”) and (D) the AGN Cooperation Termination Agreement in substantially the form set forth on Exhibit E (the “AGN
Cooperation Termination Agreement” together with the Lease and Service Agreements, the Transition Services Agreement and the Wholesale Agreement, the “Commercial Agreements”); and 

WHEREAS, certain terms used in this Agreement are defined in Section 1.1. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements hereinafter contained, the parties hereby
agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 1.1 Certain Definitions. For purposes of this
Agreement, the following terms shall have the meanings specified in this Section 1.1: 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common control with, such Person, and the term “control” (including the terms “controlled by” and “under common control
with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through ownership of voting securities, by contract or otherwise. For the
avoidance of doubt, it is acknowledged and agreed that for purposes of this Agreement, none of the AT&T Parties, Alfa or their Subsidiaries is an Affiliate of the Seller. 
 “Business Day” means any day of the year on which national banking institutions in both Mexico and the United States are open to the public for conducting business and are not
required or authorized to close. 
 “Contract” means any contract, agreement, indenture, note, bond,
mortgage, loan, instrument, lease, license, commitment or other arrangement, understanding, undertaking, commitment or obligation, whether written or oral. 

  
 2 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 “Governmental Body” means any government or governmental or
regulatory body thereof, or political subdivision thereof, whether federal, state, local or foreign, or any agency, instrumentality or authority thereof, or any court or arbitrator (public or private). 

“Invoice” means one or more invoices (factura(s)) necessary to cover any applicable requirement provided
by the Mexican Laws then in effect, documenting the Transfer and satisfying all applicable tax requirements, itemizing the Nodes, the portion of the Purchase Price corresponding to each of the equipment components of the Nodes, and/or any other
transactions contemplated in this Agreement, including in all cases the corresponding amount dictated by the Mexican Value Added Tax Law, in form and substance acceptable to Purchaser. 

“Knowledge” means, with respect to any Person that is not an individual, the actual knowledge of such
Person’s executive officers and all other officers and managers having responsibility relating to the applicable matter or, in the case of an individual, actual knowledge. 

“Law” means any foreign, federal, state or local law (including common law), statute, code, ordinance, rule,
regulation, Order or other requirement. 
 “Legal Proceeding” means any judicial, administrative or
arbitral actions, suits, mediation, investigation, inquiry, proceedings or claims (including counterclaims) by or before a Governmental Body. 
 “Lien” means any lien, pledge, mortgage, deed of trust, security interest, claim, lease, right of first refusal, easement, servitude, transfer restriction, encumbrance or any other
restriction or limitation whatsoever. 
 “Nodes” shall mean the telecommunications nodes and customer
premises equipment, as further described on Schedule 2.1 and in the Invoices. 
 “Order” means
any order, injunction, judgment, doctrine, decree, ruling, writ, assessment or arbitration award of a Governmental Body. 

“Permits” means any approvals, authorizations, consents, licenses, permits or certificates of a Governmental
Body. 
 “Permitted Exceptions” means imperfections in title, restrictions or encumbrances which will
not materially impair the ability of the Purchaser to acquire title to or continue to use the Nodes immediately after the Closing in substantially the same manner the Nodes are presently used. 

“Person” means any individual, corporation, limited liability company, partnership, firm, joint venture,
association, joint-stock company, trust, unincorporated organization, Governmental Body or other entity. 

“Subsidiary” means, with respect any Person, any entity of which (i) a majority of the outstanding share
capital, voting securities or other equity interests is owned, directly or indirectly, by such Person or (ii) such Person is entitled, directly or indirectly, to appoint a majority of the board of directors, board of managers or comparable body
of such entity. 

  
 3 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 “Transfer” means the sale free and clear of any Lien by Seller
to Purchaser of the Nodes, except for Permitted Exceptions. 
 “United States” or
“U.S.” means the United States of America. 
 1.2 Terms Defined Elsewhere in this Agreement. For
purposes of this Agreement, the following terms have meanings set forth in the sections indicated: 
  

					
	 Term
	  	 Section
	  	 
			
	AGN	  	Recitals	  	
	AGN Agreement	  	Recitals	  	
	AGN Cooperation Termination Agreement	  	Recitals	  	
	Alfa	  	Preamble	  	
	Agreement	  	Preamble	  	
	AT&T	  	Preamble	  	
	AT&T Parties	  	Preamble	  	
	Bill of Sale	  	7.1(f)	  	
	Cap Ex End Date	  	6.4	  	
	Closing	  	2.4	  	
	Closing Date	  	2.4	  	
	Commercial Agreements	  	Recitals	  	
	Equipment Lease Agreement	  	Recitals	  	
	Equity Purchase Agreement	  	Recitals	  	
	ICC Rules	  	10.3(a)	  	
	JVA	  	Recitals	  	
	Lease and Services Agreements	  	Recitals	  	
	Losses	  	8.2(a)	  	
	MOU	  	Recitals	  	
	Purchase Price	  	2.2	  	
	Purchaser	  	Preamble	  	
	Purchaser Documents	  	5.2	  	
	Purchaser Indemnified Parties	  	8.2(a)	  	
	Reimbursable CAPEX	  	6.4	  	
	[***] License	  	5.2	  	
	[***] License Transactions	  	5.2	  	
	Seller	  	Preamble	  	
	Seller Documents	  	3.2	  	
	Seller Indemnified Parties	  	8.2(b)	  	
	Termination Date	  	9.1(a)	  	
	Transition Services Agreement	  	Recitals	  	
	Wholesale Agreement	  	Recitals	  	

 1.3 Other Definitional and Interpretive Matters. 

  
 4 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 (a) Unless otherwise expressly provided, for purposes of this Agreement, the following
rules of interpretation shall apply: 
 Calculation of Time Period. When calculating the period of time before which,
within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded. If the last day of such period is a non-Business Day, the period in
question shall end on the next succeeding Business Day. 
 Dollars. Any reference in this Agreement to US$ shall mean
U.S. dollars. 
 Exhibits/Schedules. The Exhibits and Schedules to this Agreement are hereby incorporated and made a part
hereof and are an integral part of this Agreement. All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any
Schedule or Exhibit but not otherwise defined therein shall be defined as set forth in this Agreement. 
 Gender and
Number. Any reference in this Agreement to gender shall include all genders, and words imparting the singular number only shall include the plural and vice versa. 
 Headings. The provision of a Table of Contents, the division of this Agreement into Articles, Sections and other subdivisions and the insertion of headings are for convenience of reference only and
shall not affect or be utilized in construing or interpreting this Agreement. All references in this Agreement to any “Section” are to the corresponding Section of this Agreement unless otherwise specified. 

Herein. The words such as “herein,” “hereinafter,” “hereof,” and
“hereunder” refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise requires. 
 Including. The word “including” or any variation thereof means “including, without limitation” and shall not be construed to limit any general statement that it
follows to the specific or similar items or matters immediately following it. 
 (b) The parties hereto have participated
jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden of proof
shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 
 ARTICLE II

 SALE AND PURCHASE OF NODES, PURCHASE PRICE; CLOSING 

2.1 Sale and Purchase of Nodes. Upon the terms and subject to the conditions contained herein, on the Closing Date the Seller
agrees to Transfer to the Purchaser (or to Purchaser’s designee), and the Purchaser agrees to purchase from the Seller, the Nodes, subject only to the specific representations and warranties set forth in Article III. 

  
 5 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 2.2 Purchase Price. The aggregate purchase price to be paid by the Purchaser for
the Nodes shall be an amount in equal to US$20,000,000 plus the corresponding amount dictated by the Mexican Value Added Tax Law (the “Purchase Price”). The Purchase Price shall be allocated to the Nodes as provided in
Schedule 2.2. 
 2.3 Payment of Purchase Price. The Purchaser shall pay the Purchase Price in cash at Closing to
an account designated by the Seller (which designation shall be made no less than five (5) Business Days prior to the Closing). 
 2.4 Closing Date. The consummation of the sale and purchase of the Nodes provided for in Section 2.1 (the “Closing”) shall take place at the offices of Weil,
Gotshal & Manges LLP located at 767 Fifth Avenue, New York, New York 10153 (or at such other place as the parties may designate in writing) immediately after, but on the same date as, the closing of the Equity Purchase Agreement, but only
after the satisfaction or waiver of all of the conditions set forth in Article VII (other than conditions that by their nature are to be satisfied at Closing, but subject to the satisfaction or waiver of those conditions at such time), unless
another date is agreed upon by the parties (the “Closing Date”). 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES RELATING TO THE SELLER 
 Each of Seller and Alfa, jointly and severally, hereby represents and warrants to the AT&T Parties that: 
 3.1 Organization and Good Standing. Each of Seller and Alfa is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and
Seller has all requisite power and authority to own, lease and operate the Nodes. 
 3.2 Authorization of Agreement. Each
of Seller and Alfa has all requisite power, authority and legal capacity to execute and deliver this Agreement and each other agreement, document, instrument or certificate contemplated by this Agreement or to be executed by the Seller or Alfa in
connection with the consummation of the transactions contemplated by this Agreement (the “Seller Documents”), and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance of this
Agreement and each of the Seller Documents, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized and approved by all required action on the part of the Seller and Alfa, as applicable. This Agreement has
been, and each of the Seller Documents will be at or prior to the Closing (or with respect with the Commercial Agreements, on the date contemplated in the Equipment Lease Agreement), duly and validly executed and delivered by the Seller and Alfa and
(assuming due authorization, execution and delivery by the other parties hereto and thereto) this Agreement constitutes, and each of the Seller Documents when so executed and delivered will constitute, legal, valid and binding obligations of the
Seller and Alfa, enforceable against the Seller and Alfa in accordance with its terms; subject, as to enforcement, to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar Laws of general applicability relating to or
affecting creditors’ rights and to general equity principles. 

  
 6 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 3.3 Conflicts; Consents of Third Parties. 

(a) None of the execution and delivery by the Seller and/or Alfa of this Agreement or the Seller Documents, the Transfer of the Nodes, or
compliance by the Seller and/or Alfa with any of the provisions hereof or thereof will conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or
cancellation under any provision of (i) the certificate of incorporation, by-laws or comparable organizational documents of the Seller and/or Alfa; (ii) any material Contract or Permit to which the Seller and/or Alfa is a party or by which
any of the properties or assets of the Seller and/or Alfa are bound; (iii) any Order of any Governmental Body applicable to the Seller and/or Alfa or by which any of the properties or assets of the Seller and/or Alfa are bound; or (iv) any
applicable Law in any material respect. 
 (b) No consent, waiver, approval, Order, Permit or authorization of, or declaration
or filing with, or notification to, any Person or Governmental Body is required on the part of the Seller and/or Alfa in connection with the execution and delivery of this Agreement, the Seller Documents, the compliance by the Seller and/or Alfa
with any of the provisions hereof or thereof, or the consummation of the transactions contemplated hereby. 
 3.4 Title to
the Nodes. The Seller owns and has good title to Transfer the Nodes. For the avoidance of doubt, the Purchaser acknowledges that the Nodes are located on property owned or leased by the Seller, and this Agreement does not convey ownership rights
in, or any rights to use, such property on which the Nodes are located, except as set forth in the Lease and Services Agreements. 
 3.5 Functionality of the Nodes. The Nodes exist and are functioning and operating in substantially the same manner as they have historically functioned and operated. 

3.6 Litigation. There is no Legal Proceeding pending or, to the Knowledge of the Seller or Alfa, threatened against the Seller, an
Affiliate of the Seller or Alfa, or to which the Seller, an Affiliate of the Seller or Alfa is otherwise a party, relating to this Agreement, the Seller Documents, the Nodes or the transactions contemplated hereby or thereby. 

3.7 Financial Advisors. No Person has acted, directly or indirectly, as a broker, finder or financial advisor for the Seller in
connection with the transactions contemplated by this Agreement and no Person is or will be entitled to any fee or commission or like payment in respect thereof. 
 3.8 Other Representations or Warranties. Except for the representations and warranties expressly set forth in this Agreement, Seller and/or Alfa make no other express or implied representation or
warranty in connection with the transactions contemplated hereby. 
 ARTICLE IV 

[INTENTIONALLY OMITTED] 

  
 7 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF PURCHASER 
 Each AT&T Party, jointly and severally, hereby represents and warrants to the Seller that: 
 5.1 Organization and Good Standing. Each AT&T Party is a company duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation. 

5.2 Authorization of Agreement. Each AT&T Party has all requisite power, authority and legal capacity to execute and deliver
this Agreement and each other agreement, document, instrument or certificate contemplated by this Agreement or to be executed by each AT&T Party in connection with the consummation of the transactions contemplated by this Agreement (the
“Purchaser Documents”), and to consummate the transactions contemplated hereby and thereby, except that the implementation of certain services provided for in the Commercial Agreements is contingent upon the obtainment of the
Permit applied for on January 10, 2011 by Purchaser with the Mexican Ministry of Communications and Transports to become [***] in form and substance acceptable to Purchaser (the “[***] License”, and the transactions
requiring the [***] License, the “[***] License Transactions”). The execution, delivery and performance of this Agreement and each of the Purchaser Documents, and the consummation of the transactions contemplated hereby and
thereby, have been duly authorized and approved by all required action on the part of such AT&T Party. This Agreement has been, and each of the Purchaser Documents will be at or prior to the Closing (or with respect with the Commercial
Agreements, on the date contemplated in the Equipment Lease Agreement), duly and validly executed and delivered by such AT&T Party and (assuming due authorization, execution and delivery by the other parties hereto and thereto) this Agreement
constitutes, and each of the Purchaser Documents when so executed and delivered will constitute, legal, valid and binding obligations of such AT&T Party, enforceable against such AT&T Party in accordance with its terms; subject, as to
enforcement, to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar Laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 

5.3 Conflicts; Consents of Third Parties. 
 (a) None of the execution and delivery by such AT&T Party of this Agreement or the Purchaser Documents, the Transfer of the Nodes, or compliance by such AT&T Party with any of the provisions
hereof or thereof will conflict with, or result in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination or cancellation under any provision of (i) the certificate of
incorporation, by-laws or comparable organizational documents of such AT&T Party; (ii) any material Contract or Permit to which any AT&T Party is a party or by which any of the properties or assets of any AT&T Party is bound;
(iii) any Order of any Governmental Body applicable to such AT&T Party or by which any of the properties or assets of such AT&T Party is bound; or (iv) any applicable Law in any material respect. 

  
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 (b) No consent, waiver, approval, Order, Permit or authorization of, or declaration or
filing with, or notification to, any Person or Governmental Body is required on the part of such AT&T Party in connection with the execution and delivery of this Agreement, the Purchaser Documents, the compliance by such AT&T Party with any
of the provisions hereof or thereof, or the consummation of the transactions contemplated hereby, except for the [***] License. 

5.4 Litigation. There are no Legal Proceedings pending or, to the Knowledge of any AT&T Party, threatened against any AT&T
Party or Affiliate of an AT&T Party or to which any AT&T Party or Affiliate of an AT&T Party is otherwise a party relating to this Agreement, the Purchaser Documents or the transactions contemplated hereby and thereby. 

5.5 Financial Advisors. No Person has acted, directly or indirectly, as a broker, finder or financial advisor for any AT&T
Party in connection with the transactions contemplated by this Agreement and no Person is or will be entitled to any fee or commission or like payment in respect thereof. 
 5.6 Non-Reliance of Purchaser. Except for the specific representations and warranties expressly made by the Seller in Article III of this Agreement, (i) each AT&T Party acknowledges
and agrees that neither Seller nor Alfa is making any representation or warranty, expressed or implied, at law or in equity, in respect of the Nodes, or the condition, operations or prospects thereof, including any express or implied warranty of
merchantability or fitness for a particular purpose, the prospects for use in the AT&T Parties’ business, the effectiveness or the success of the Nodes, or the accuracy or completeness of any information regarding the Nodes furnished to the
AT&T Parties or their representatives or made available to the AT&T Parties or their representatives, (ii) the AT&T Parties specifically disclaim that they are relying upon or have relied upon any such other representations or
warranties and acknowledge and agree that the Seller and Alfa have specifically disclaimed and do hereby specifically disclaim any such other representations or warranties made by any Person, and (iii) the AT&T Parties will acquire the
Nodes on an “as is, where is” basis, “with all faults”, except to the extent set forth in Section 3.5. The provisions of this Section 5.6 were specifically bargained-for between the Seller and the AT&T
Parties and were taken into account by the Seller and the AT&T Parties in arriving at the Purchase Price. 
 5.7 Other
Representations or Warranties. Except for the representations and warranties expressly set forth in this Agreement, neither AT&T Party makes any other express or implied representation or warranty in connection with the transactions
contemplated hereby. 
 ARTICLE VI 
 COVENANTS 
 6.1 Governmental Consents and Approvals. Each of the
AT&T Parties, Alfa and the Seller shall use its commercially reasonable best efforts to obtain at the earliest practical date all consents, waivers, approvals, Orders, Permits, authorizations and declarations from, make all filings with, and
provide all notices to, all Governmental Bodies which are required to consummate the [***] License Transactions. Subject to applicable Laws relating to the 

  
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exchange of information, the AT&T Parties agree to review in advance, and to the extent practicable to consult, with the Seller on all the material information that appears in any filing to
be made or made with, or written materials to be submitted or submitted to, any Governmental Body in connection with the transactions contemplated by this Agreement. Each of the AT&T Parties shall keep the Seller apprised of the status of
matters relating to completion of the transactions contemplated hereby. For the avoidance of doubt, this Section 6.1 does not relate to taxes, matters related to which shall be governed by Section 10.1. 

6.2 Further Assurances. Each of the AT&T Parties, Alfa and the Seller shall use its commercially reasonable best efforts to
(i) take, or cause to be taken, all actions necessary or appropriate to consummate the transactions contemplated by this Agreement and (ii) cause the fulfillment at the earliest practicable date of all of the conditions to their respective
obligations to consummate the transactions contemplated by this Agreement. In addition, during the period commencing on the date of this Agreement, the parties shall implement the activities set forth in Exhibit F. 

6.3 Certain Accounts Receivable. 
 (a) Upon the execution of the Transition Services Agreement, Purchaser shall, or shall cause its appropriate Affiliates to, use reasonable good faith efforts to collect, and cooperate with the Seller in
collection of, the Seller’s accounts receivable with respect to the telecommunications services provided with respect to the AGN Agreement invoiced by the Seller for periods prior to the effective date of the Transition Services Agreement.
Purchaser shall promptly provide to Seller notice of and information related to cash received by Purchaser related to accounts receivable that properly belong to Seller, and Purchaser shall promptly remit to Seller all amounts Purchaser receives
that are properly attributable to such accounts receivable owing to the Seller without any deduction. 
 (b) In no event shall
Purchaser (i) have any liability with respect to failure to collect on such accounts receivable and (ii) be obligated to continue these accounts receivable collection efforts beyond six (6) months following the effective date of the
Transition Services Agreement (or if earlier, beyond the agreed date for the reconciliation described below). Upon the execution of this Agreement, the Seller and the Purchaser shall endeavor to review and identify the AGN Customers (as defined in
Exhibit F) receivables balances. For the period after the effective date of the Transition Services Agreement during which Purchaser is making collection efforts for Seller, for purposes of determining whether any particular payment (or
portion of payment) received by Purchaser from an AGN Customer is attributable to Seller’s accounts receivable, the following shall apply: If the AGN Customer indicates a specific invoice (whether Purchaser’s or Seller’s) to which the
payment should be applied, then it shall be applied to such invoice. Absent any AGN Customer direction, Purchaser shall apply the payment first to the oldest unpaid invoice outstanding for that AGN Customer; provided, however, that no
payments will be applied to charges that are subject to an unresolved dispute by the AGN Customer. The parties shall, upon request, share information regarding unresolved disputes. 

(c) During the sixty (60) day period prior to the date the parties estimate the effective date of the Transition Services Agreement
will occur, the parties shall work together in good faith and endeavor to take commercially reasonable actions to review and resolve past due 

  
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accounts receivable of AGN Customers. Any past due accounts receivable of AGN Customers that both Purchaser and Seller mutually agree in writing should be borne by Purchaser, shall be paid by
Purchaser to Seller within thirty (30) days after such agreement is reached. 
 6.4 Certain Capital
Expenditures. From January 1, 2011 until earlier of the Closing Date or the termination of this Agreement (the “Cap Ex End Date”), Seller shall continue to make capital expenditures on the Nodes as directed and/or
approved in writing by Purchaser and/or AT&T in accordance with the AGN Cooperation Agreement (the “Reimbursable CAPEX”). For a period equal to the statute of limitations, Seller will keep records and reasonably
satisfactory evidence of all Reimbursable CAPEX with respect to capacity demands (installed and/or to be installed) and technology upgrades for the period commencing January 1, 2011 and ending on the Cap Ex End Date. At or as promptly as
practicable after the Closing Date (but in no event later than thirty (30) days after receipt by Purchaser of the evidence described below), and, after receipt of evidence from the Seller reasonably satisfactory to the Purchaser confirming the
implementation (investment) by the Seller of the Reimbursable CAPEX, Purchaser will or will cause one of its Affiliates to take title to the Reimbursable CAPEX assets and pay to Seller in cash an amount equal to the Reimbursable CAPEX, including the
corresponding amount dictated by the Mexican Value Added Tax Law paid by the Seller, to the same account designated by Seller pursuant to Section 2.3 (Payment of Purchase Price). If Purchaser has not made the payment of the Reimbursable
CAPEX within thirty (30) days as required, interest shall begin accruing at a rate of 6.45% per annum, compounded annually, on the 31st day after receipt of such evidence by Purchaser and shall stop accruing on the date the Reimbursable CAPEX is paid,
and Seller shall simultaneously provide Purchaser with the corresponding Invoice. 
 6.5 Notification of Certain Matters.
The Seller shall give notice to Purchaser, and Purchaser shall give notice to the Seller, as promptly as reasonably practicable upon becoming aware of the institution of or the threat of institution of any Legal Proceeding against any of the Seller
or the Purchaser related to this Agreement or the transactions contemplated hereby; provided, however, that the delivery of any notice pursuant to this Section 6.5 shall not limit or otherwise affect the remedies available
hereunder to the party receiving such notice, or the representations or warranties of, or the conditions to the obligations of, the parties hereto. 
 6.6 Publicity. 
 (a) None of the Seller, Alfa or the AT&T Parties,
and/or their Affiliates, shall issue any press release or public announcement concerning this Agreement or the transactions contemplated hereby without obtaining the prior written approval of the other parties hereto, which approval will not be
unreasonably withheld or delayed, unless, in the sole judgment of Purchaser or Seller, disclosure is otherwise required by applicable Law or by the applicable rules of any stock exchange on which Purchaser, Seller or their Affiliates list
securities; provided, however, that, to the extent required by applicable Law, the party intending to make such release shall use its commercially reasonable best efforts consistent with such applicable Law to consult with the other
party with respect to the text thereof. 
 (b) Each of the Seller and the AT&T Parties agree that the terms of this
Agreement shall not be disclosed or otherwise made available to the public and that copies of 

  
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this Agreement shall not be publicly filed or otherwise made available to the public, except where such disclosure, availability or filing is required by applicable Law and only to the extent
required by such Law. In the event that such disclosure, availability or filing is required by applicable Law, each of the Seller and the AT&T Parties (as applicable) agrees to use their commercially reasonable best efforts to obtain
“confidential treatment” of this Agreement with the Securities and Exchange Commission (or the equivalent treatment by any other Governmental Body) and to redact such terms of this Agreement the other party shall request. 

(c) The parties shall cooperate on the development and implementation of a communications plan to inform, and/or respond to inquiries
from, interested customers, employees and the public regarding the transactions contemplated by this Agreement, the Equity Purchase Agreement and the Commercial Agreements. 
 ARTICLE VII 
 CONDITIONS TO CLOSING 

7.1 Conditions Precedent to Obligations of Purchaser. The obligation of Purchaser to consummate the transactions contemplated by
this Agreement is subject to the fulfillment, on or prior to the Closing Date, of each of the following conditions precedent (any or all of which may be waived by Purchaser in whole or in part to the extent permitted by applicable Law): 

(a) the representations and warranties of the Seller and Alfa shall be true and correct in all material respects (other than the
representations and warranties (i) that are already qualified by materiality or (ii) contained in Sections 3.4 (Title to the Nodes) and 3.5 (Functionality of the Nodes), which representations and warranties shall be true and
correct in all respects), in each case, as of the date of this Agreement and as of the Closing as though made at and as of the Closing; 
 (b) the Seller and Alfa shall have performed and complied in all material respects with all obligations and agreements required in this Agreement to be performed or complied with by them on or prior to
the Closing Date; 
 (c) Purchaser shall have received a certificate signed by the Seller and Alfa in form and substance
reasonably satisfactory to Purchaser, dated the Closing Date, to the effect that each of the conditions specified above in Sections 7.1(a) and (b) have been satisfied in all respects; 

(d) there shall not be in effect any Order by a Governmental Body of competent jurisdiction restraining, enjoining or otherwise
prohibiting the consummation of the transactions contemplated hereby; 
 (e) the Nodes exist and are functioning and operating
in substantially the same manner as they have historically functioned and operated; 
 (f) the closing of the Equity Purchase
Agreement shall have occurred; and 

  
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 (g) the Seller shall have delivered, or caused to be delivered, to the Purchaser the
duly executed Equipment Lease Agreement and the Invoices. 
 7.2 Conditions Precedent to Obligations of the Seller. The
obligations of the Seller to consummate the transactions contemplated by this Agreement are subject to the fulfillment, on or prior to the Closing Date, of each of the following conditions precedent (any or all of which may be waived by the Seller
in whole or in part to the extent permitted by applicable Law): 
 (a) the representations and warranties of the AT&T
Parties set forth in this Agreement shall be true and correct in all material respects (other than representations and warranties that are already qualified by materiality, which representations and warranties shall be true and correct in all
respects), in each case, as of the date of this Agreement and as of the Closing as though made at and as of the Closing; 
 (b)
the AT&T Parties shall have performed and complied in all material respects with all obligations and agreements required by this Agreement to be performed or complied with by the AT&T Parties on or prior to the Closing Date; 

(c) Seller shall have received a certificate signed by AT&T in form and substance reasonably satisfactory to Seller, dated the
Closing Date, to the effect that each of the conditions specified above in Sections 7.2(a) and (b) have been satisfied in all respects; 
 (d) there shall not be in effect any Order by a Governmental Body of competent jurisdiction restraining, enjoining or otherwise prohibiting the consummation of the transactions contemplated hereby;

 (e) the closing of the Equity Purchase Agreement shall have occurred; and 

(f) the Purchaser shall have delivered, or caused to be delivered, to the Seller the duly executed Equipment Lease Agreement. 

ARTICLE VIII 
 INDEMNIFICATION 
 8.1 Survival of Representations and Warranties.
The representations and warranties of the parties contained in this Agreement or any certificate delivered pursuant hereto shall survive the Closing for a period of five years, except that the representations and warranties set forth in
(i) Sections 3.1, 3.2, 5.1 and 5.2 shall survive the Closing for a period equal to the applicable statute of limitations and (ii) Section 3.4 shall survive the Closing indefinitely. 

8.2 Indemnification. 
 (a) The Seller and Alfa hereby jointly and severally agree to indemnify and hold the AT&T Parties and their respective directors, officers, employees, Affiliates, stockholders, agents, attorneys,
representatives, successors and assigns (collectively, the “Purchaser Indemnified Parties”) harmless from and against, and pay to the applicable 

  
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Purchaser Indemnified Parties the amount of, any and all losses, liabilities, claims, obligations, deficiencies, demands, judgments, damages, interest, fines, penalties, claims, suits, actions,
causes of action, assessments, awards, costs and expenses (including costs of investigation and defense and attorneys’ and other professionals’ fees), whether or not involving a third party claim (individually, a
“Loss” and, collectively, “Losses”): 
 (i) based upon,
attributable to or resulting from the failure of any of the representations or warranties made by the Seller or Alfa in this Agreement or any certificate delivered pursuant hereto to be true and correct in all respects at and as of the date hereof
and at and as of the Closing Date; and 
 (ii) based upon, attributable to or resulting from the breach of any
covenant or other agreement on the part of the Seller or Alfa under this Agreement. 
 (b) The AT&T Parties hereby agree to
indemnify and hold the Seller and its respective directors, officers, employees, Affiliates, stockholders, agents, attorneys, representatives, successors and assigns (collectively, the “Seller Indemnified Parties”) harmless
from and against, and pay to the applicable Seller Indemnified Parties the amount of any and all Losses: 
 (i)
based upon, attributable to or resulting from the failure of any of the representations or warranties made by the AT&T Parties in this Agreement or any certificate delivered pursuant hereto to be true and correct in all respects at the date
hereof and as of the Closing Date; and 
 (ii) based upon, attributable to or resulting from the breach of any
covenant or other agreement on the part of the AT&T Parties under this Agreement. 
 ARTICLE IX 

TERMINATION 
 9.1 Termination of Agreement. This Agreement may be terminated prior to the Closing as follows: 
 (a) At the election of the Seller or the Purchaser after December 31, 2011 (the “Termination Date”), if the Closing shall not have occurred by the close of business on such
date; provided, however, that the terminating party is not then in material default of any of its obligations hereunder; 
 (b) by mutual written consent of the Seller and the Purchaser; 
 (c) by the Seller
or the Purchaser if there shall be in effect a final nonappealable Order of a Governmental Body of competent jurisdiction restraining, enjoining or otherwise prohibiting the consummation of the transactions contemplated hereby; it being agreed that
the parties hereto shall promptly appeal any adverse determination which is not 

  
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nonappealable (and pursue such appeal with reasonable diligence); provided, however, that the right to terminate this Agreement under this Section 9.1(c) shall not be
available to a party if such Order was primarily due to the failure of such party to perform any of its obligations under this Agreement; 
 (d) by the Purchaser if the Seller and/or Alfa shall have breached or failed to perform any of its covenants or agreements set forth in this Agreement, or if any representation or warranty of the Seller
and/or Alfa shall have become untrue, in either case such that the conditions set forth in Sections 7.1(a) or 7.1(b) would not be satisfied and such breach or failure to perform is incapable of being cured or, if capable of being
cured, shall not have been cured within twenty (20) days following receipt by the Seller of notice of such breach or failure to perform from the Purchaser; 
 (e) by the Seller if any AT&T Party shall have breached or failed to perform any of its covenants or agreements set forth in this Agreement, or if any representation or warranty of any AT&T Party
shall have become untrue, in either case such that the conditions set forth in Sections 7.2(a) or 7.2(b) would not be satisfied and such breach or failure to perform is incapable of being cured or, if capable of being cured, shall not
have been cured within twenty (20) days following receipt by the AT&T Parties of notice of such breach or failure to perform from the Seller; 
 (f) by the Seller or the Purchaser if the Equity Purchase Agreement is terminated in accordance with its terms; provided, however, that the right to terminate this Agreement under this
Section 9.1(f) shall not be available to a party if the termination of the Equity Purchase Agreement was primarily due to the failure of such party (or its Affiliate, or in the case of Seller, the failure of Alfa) to perform its
obligations under the Equity Purchase Agreement; or 
 (g) by the Purchaser if it reasonably believes that the [***] License it
applied for will not be granted in substantially the terms it was applied for or is made subject to conditions or other requirements which are reasonably likely to adversely affect its business plan for the Nodes and are unacceptable to Purchaser.

 9.2 Procedure Upon Termination. In the event of termination and abandonment by Purchaser or the Seller, or both,
pursuant to Section 9.1, written notice thereof shall forthwith be given to the other party or parties, and this Agreement shall terminate, and the purchase of the Nodes hereunder shall be abandoned, without further action by the Seller,
Alfa or the AT&T Parties. 
 9.3 Effect of Termination. In the event that this Agreement is validly terminated as
provided herein, then each of the parties shall be relieved of their duties and obligations arising under this Agreement after the date of such termination and such termination shall be without liability to the Seller, Alfa or any AT&T Party;
provided, however, that the obligations of the parties set forth in this Section 9.3, Article X and Section 6.4 hereof shall survive any such termination and shall be enforceable hereunder;
provided further, however, that 

  
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nothing in this Section 9.3 shall relieve the Seller, Alfa or any AT&T Party of any liability for a breach of this Agreement prior to the effective date of termination.

 ARTICLE X 
 MISCELLANEOUS 
 10.1 Taxes and Expenses. Except as otherwise
provided in this Agreement, the AT&T Parties, the Seller and Alfa shall each bear its own expenses and taxes (capital gains or income tax and Value Added Tax as provided by applicable Law), incurred in connection with the negotiation and
execution of this Agreement and each other agreement, document and instrument contemplated by this Agreement and the consummation of the transactions contemplated hereby and thereby. 

10.2 Specific Performance. The parties acknowledge and agree that a breach of this Agreement would cause irreparable damage to the
compliant party and that the compliant party will not have an adequate remedy at law. Therefore, the obligations of each party under this Agreement shall be enforceable by a decree of specific performance issued by any court of competent
jurisdiction, and appropriate injunctive relief may be applied for and granted in connection therewith. Such remedies shall, however, be cumulative and not exclusive and shall be in addition to any other remedies which any party may have under this
Agreement or otherwise. 
 10.3 Arbitration; Submission to Jurisdiction; Consent to Service of Process; Waiver of Jury
Trial. 
 (a) Any controversy, dispute or claim arising under or in connection with this Agreement (including, without
limitation, the existence, validity, interpretation or breach hereof and any claim based on contract, tort or statute) shall be resolved by a binding arbitration in English, to be held in New York, New York pursuant to the Federal Arbitration Act
and in accordance with the then-prevailing Rules of Arbitration of the International Chamber of Commerce (the “ICC Rules”). The number of arbitrators shall be three. One arbitrator shall be appointed by the Seller and Alfa,
one arbitrator shall be appointed by the AT&T Parties and the third arbitrator shall be appointed by the first two appointed arbitrators. If, within thirty (30) calendar days after the appointment of the second arbitrator, the two
arbitrators shall not have appointed the third arbitrator, the third arbitrator shall be appointed by the International Chamber of Commerce International Court of Arbitration in accordance with the ICC Rules. Each party shall bear its own expenses
incurred in connection with arbitration and the fees and expenses of the arbitrators shall be shared equally by the parties involved in the dispute and advanced by them from time to time as required. It is the mutual intention and desire of the
parties that the tribunal of three arbitrators be constituted as expeditiously as possible following the submission of the dispute to arbitration. Once such tribunal is constituted and except as may otherwise be agreed in writing by the parties
involved in such dispute or as ordered by the arbitrators upon substantial justification shown, the hearing for the dispute will be held within sixty (60) days after submission of the dispute to arbitration. The arbitrators shall render their
final award within sixty (60) days, subject to extension by the arbitrators upon substantial justification of extraordinary circumstances, following conclusion of the hearing and any required post-hearing

  
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briefing or other proceedings ordered by the arbitrators. Any discovery in connection with arbitration hereunder shall be limited to information directly relevant to the controversy or claim in
arbitration. The arbitrators will state the factual and legal basis for the award. The decision of the arbitrators in any such proceeding will be final and binding and not subject to judicial review and final judgment may be entered upon such an
award in any court of competent jurisdiction, but entry of such judgment will not be required to make such award effective. Any action against any party hereto ancillary to arbitration pursuant to this Section 10.3(a) (as determined by
the arbitrators), including any action for provisional or conservatory measures or action to enforce an arbitration award or any judgment entered by any court in respect of any thereof may be brought in any federal or state court of competent
jurisdiction located within the State of New York, and the parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any federal or state court located within the State of New York over any such action. The parties hereby
irrevocably waive, to the fullest extent permitted by applicable law, any objection which they may now or hereafter have to the laying of venue of any such action brought in such court or any defense of inconvenient forum for the maintenance of such
action. Each of the parties hereto agrees that a judgment in any such action may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall prevent any party from seeking
provisional relief, including injunctive relief, from any court of competent jurisdiction, and any such request shall not be deemed incompatible with the agreement to arbitrate or a waiver of the right to arbitrate. 

(b) The parties will keep confidential, and will not disclose to any Person, except their attorneys or as may be required by Law, the
existence of any dispute, claim or controversy under this Section 10.3, the referral of any such dispute, claim or controversy to arbitration or the status or resolution thereof; provided that if the arbitrators award any sort of
relief in the nature of a restraining order or preliminary or permanent injunction, the existence thereof may be made known to third parties as necessary to achieve the purpose of the relief. Notwithstanding this paragraph, in order to enforce the
arbitration award, the parties may file the arbitration award with a court having jurisdiction thereof. 
 (c) Each of the
parties hereto hereby consents to process being served by any party to this Agreement in any suit, action or proceeding to enforce an arbitration award or as identified in Section 10.3(a) by delivery of a copy thereof in accordance with
the provisions of Section 10.6. 
 (d) WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDING TO ENFORCE AN ARBITRATION
AWARD OR AS IDENTIFIED IN SECTION 10.3(a), THE PARTIES TO THIS AGREEMENT EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (i) ARISING UNDER THIS
AGREEMENT OR (ii) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND
WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. 

  
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 10.4 Entire Agreement; Amendments and Waivers. This Agreement (including the
Commercial Agreements, Invoice and the other schedules and exhibits hereto), the Equity Purchase Agreement (including the schedules and exhibits thereto), the Seller Documents and the Purchaser Documents represent the entire understanding and
agreement between the parties hereto with respect to the subject matter hereof and can be amended, supplemented or changed, and any provision hereof can be waived, only by written instrument making specific reference to this Agreement signed by the
party against whom enforcement of any such amendment, supplement, modification or waiver is sought. For the avoidance of doubt, this Agreement, the Equity Purchase Agreement and the exhibits to this Agreement and the Equity Purchase Agreement
supersede the MOU, and the MOU shall have no force and effect. No action taken pursuant to this Agreement, including any investigation by or on behalf of any party, shall be deemed to constitute a waiver by the party taking such action of compliance
with any representation, warranty, covenant or agreement contained herein. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a
waiver of any other or subsequent breach. No failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such right,
power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law. 

10.5 Governing Law. This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise
out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement), shall be governed by the internal laws of New York. 
 10.6
Notices. All notices and other communications under this Agreement shall be in writing and shall be deemed given (i) when delivered personally by hand (with written confirmation of receipt), (ii) when sent by facsimile (with written
confirmation of transmission) or (iii) one Business Day following the day sent by overnight courier (with written confirmation of receipt), in each case at the following addresses and facsimile numbers (or to such other address or facsimile
number as a party may have specified by notice given to the other party pursuant to this provision): 
 If to any AT&T
Party, to: 
 AT&T Corp. 
 One AT&T Plaza 
 208 S. Akard; Room – 32nd Floor 

Dallas, TX 75202 

Facsimile: +1 [***] 
 Attention: [***] 
 With a copy to: 

  
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 AT&T Corp. 
 One AT&T Plaza 
 208 S. Akard; Room 3214 

Dallas, TX 75202 

Facsimile: +1 [***] 
 Attention: [***] 
 and 

Thompson & Knight Abogados, S.C. 
 Paseo de las Palmas 405 – 1901 
 Lomas de Chapultepec 

11000, México D.F., México 
 Facsimile: +[***] 
 Attention: [***] 

If to the Seller, to: 
 Alestra, S. de R.L. de C.V. 
 Ave. Lázaro Cárdenas 2321 

Col. Residencial San Agustín 
 San Pedro Garza García, N.L. 
 66269 Mexico 

Facsimile: +52-81-8625-2303 
 Attention: Rolando Zubiran 
 With a copy to: 

Alestra, S. de R.L. de C.V. 
 Ave. Lázaro Cárdenas 2321 
 Col. Residencial San Agustín

 San Pedro Garza García, N.L. 
 66269 Mexico 
 Facsimile: +52-81-8748-8625 

Attention: Pedro Armando Abdo 
 If to Alfa, to: 
 Alfa, S.A.B. de C.V. 

Ave. Gomez Morin 1111 Sur 
 Col. Carrizalejo 
 San Pedro Garza García, N.L. 

66254 Mexico 

Facsimile: +52-81-8748-2519 
 Attention: Alejandro Elizondo 

  
 19 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 With a copy to: 

Weil, Gotshal & Manges LLP 
 767 Fifth Avenue 
 New York, NY 10153 

Facsimile:     +1 (212) 310-8007 
 Attention:     Frederick S. Green 
 10.7 Severability.
If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any law or public policy, all other terms or provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal, or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally
contemplated to the greatest extent possible. 
 10.8 Binding Effect; Assignment. This Agreement shall be binding upon
and inure to the benefit of the parties and their respective successors and permitted assigns. Nothing in this Agreement shall create or be deemed to create any third party beneficiary rights in any Person not a party to this Agreement except as
provided below. Except as contemplated in the immediately succeeding sentence, no assignment of this Agreement or of any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written
consent of the other parties hereto and any attempted assignment without the required consents shall be void. 
 10.9 No
Recourse Against Non-Parties. Notwithstanding anything that may be expressed or implied in this Agreement, the parties hereto covenant, agree and acknowledge that this Agreement may only be enforced against the parties hereto. All claims or
causes of action (whether in contract, tort or otherwise) arising out of or relating to this Agreement (including the negotiation, execution or performance of this Agreement and any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement) may be made only against the parties hereto. No past, present or future officer, director, shareholder, employee, incorporator, member, partner, agent, attorney, representative or Affiliate
of any party hereto (including any person negotiating or executing this Agreement on behalf of a party hereto) shall have any liability or obligation with respect to this Agreement or with respect to any claim or cause of action (whether in
contract, tort or otherwise) arising out of or relating to this Agreement (including the negotiation, execution or performance of this Agreement and any representation or warranty made in or in connection with this Agreement or as an inducement to
enter into this Agreement). Nothing in the foregoing provision of this Section 10.9 shall affect the offset rights of Purchaser and its Affiliates set forth in Sections 6.7 and 10.4 of the Equity Purchase Agreement.

 10.10 Language. English shall be the official language in respect to all matters in connection with this Agreement,
unless otherwise agreed in writing by the parties. In the 

  
 20 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
event that this Agreement shall be translated into any other language, the English version shall be controlling as among the parties. 

10.11 Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original
copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. 
 10.12
Exclusivity of Agreement. The parties hereto have voluntarily agreed to define their rights, liabilities and obligations respecting the subject matter of this Agreement exclusively in contract pursuant to the express terms and provisions of
this Agreement; and the parties hereto expressly disclaim that they are owed any duties or are entitled to any remedies not expressly set forth in this Agreement. Furthermore, the parties each hereby acknowledge that this Agreement embodies the
justifiable expectations of sophisticated parties derived from arm’s length negotiations; all parties to this Agreement specifically acknowledge that no party has any special relationship with another party that would justify any expectation
beyond that of an ordinary buyer and an ordinary seller in an arm’s length transaction. The sole and exclusive remedies for any breach of the terms and provisions of this Agreement (including any representations and warranties set forth herein)
shall be those remedies available at law or in equity for breach of contract only (as such contractual remedies may be further limited or excluded pursuant to the express terms of this Agreement); and the parties hereby agree that no party hereto
shall have any remedies for any statements, communications, disclosures, failures to disclose, representations or warranties not set forth in the Agreement. The parties hereto hereby settle, waive and release any and all tort claims and causes of
action that may be based upon, arise out of or relate to the negotiation and execution of this Agreement (including any tort claim or cause of action based upon, arising out of or related to any statement, communication, disclosure, failure to
disclose, representation or warranty made in connection with this Agreement or as an inducement to enter into this Agreement). 

** REMAINDER OF PAGE INTENTIONALLY LEFT BLANK** 

  
 21 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

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

			
	ALESTRA, S. de R.L. de C.V.
		
	By:	 	  

		 	Name:
		 	Capacity:
	
	ALFA, S.A.B. de C.V.
		
	By:	 	  

		 	Name:
		 	Capacity:
	
	 AT&T GLOBAL NETWORK SERVICES
 MEXICO, S. de R.L. de C.V.

		
	By:	 	  

		 	Name:
		 	Capacity:
	
	AT&T CORP.
		
	By:	 	  

		 	Name:
		 	Capacity:

  
 22 

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 Exhibit A 

EQUIPMENT LEASE AGREEMENT 

This Equipment Lease Agreement (the “Agreement”) is entered into as of [—],
2011 by and between AT&T Global Network Services Mexico, S. de R.L. de C.V., for itself and for the benefit of each of its Subsidiaries and Affiliates (as such terms are defined in the NPA), a company organized and existing under the laws of the
United Mexican States, having its principal place of business at Montes Urales 470-PH Col, Lomas de Chapultepec Mexico, D.F. 11000 (collectively referred to as “AGNS Mexico” or “Lessor”), and Alestra
S. de R.L. de C.V., a company organized and existing under the laws of the United Mexican States, having a principal place of business at [—] (referred to herein as “Alestra”
or “Lessee”). 
 W I T N E S S E T H 
 WHEREAS, on the date hereof AGNS Mexico, AT&T Corp. (“AT&T”), Alfa, S.A.B. de C.V. and Alestra have closed the Nodes Purchase Agreement (the “NPA”)
pursuant to which AGNS Mexico purchased from Alestra the Nodes (as defined below); and 
 WHEREAS, as per the terms of the NPA, Alestra and AGNS
Mexico agreed to enter into this Equipment Lease Agreement pursuant to which Alestra will lease from AGNS Mexico, the Nodes; 
 NOW, THEREFORE,
in consideration of the premises and the mutual covenants and agreements hereinafter contained, the parties hereby agree as follows: 
 ARTICLE I. THE LEASE 
 1.1 LEASE OF THE NODES. In accordance
with the terms and conditions of this Agreement, the AT&T Global Network Cooperation Agreement between AT&T Corp. and Alestra currently in effect (the “AGN Cooperation Agreement”) and the NPA (and together with the
AGN Cooperation Agreement, the “AGN Agreements”), Lessor shall lease to Lessee, and Lessee shall lease from Lessor, the hardware, software and other equipment described in Schedule 2.1 of the NPA, located in Monterrey,
Guadalajara, Tijuana and Mexico City (the “Equipment Sites”), including all Lessor provided substitutions, replacements, repairs, parts and attachments, improvements and accessions thereto and therein (the
“Nodes”). The Nodes described in Schedule 2.1 of the NPA is currently located at the Equipment Sites. Lessee’s execution of this Agreement shall be conclusive of Lessee’s acceptance of the Nodes shown in
Schedule 2.1 of the NPA for leasing. Alestra shall lease the Nodes from AGNS Mexico for the Term of this Agreement. During the Term, Lessor or its assignee shall at all times retain full legal title to the Nodes under the terms and conditions
set forth in this Agreement. 
 1.2 TRUE LEASE. AGNS Mexico and Alestra intend this Agreement to create a true lease and
not a security interest, and the provisions hereof or any filing in accordance 

  
 Ex. A-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
herewith shall not be deemed evidence of any contrary intent but of an attempt to protect Lessor’s rights, title and interests in and to all Nodes. 

1.3 TERM. The term (the “Term”) of this Agreement shall commence on the date execution of this Agreement
and shall continue in effect until December 31, 2012, unless earlier terminated as provided in Section 1.5. In the event this Agreement is terminated as provided in Section 1.5, title to the Nodes shall not pass to
Alestra, but shall remain with Lessor regardless of whether the Nodes remains physically located on Alestra’s premises after such termination as provided in the Lease and Services Agreements (as defined in the NPA) to be entered and/or become
effective on the Termination date of this Agreement. 
 1.4 RENTAL PAYMENTS. Lessee shall pay Lessor rent (the
“Rent”) for the Nodes in the amount of US$[—], plus applicable Mexican Value Added Tax, per month at the times specified herein. The first Rent shall be payable on the date of
execution of this Agreement. Thereafter, Rent shall be payable in advance once a month no later than thirty days from date of electronic receipt of the Invoice (as defined in the NPA) from Lessor. All Rent and other amounts payable by Lessee to
Lessor hereunder shall be paid to Lessor at the address specified above, or at such other place as Lessor may designate in writing to Lessee from time to time. 
 1.5 ANTICIPATED TERMINATION. Lessor shall have the right, at its sole discretion, to terminate this Agreement at any time [***] (such termination date, the “Anticipated Termination
Date”) prior to the Term (an “Anticipated Termination”) by providing notice to Lessee, subject to the following: 
 (a) The purpose of this subsection is to address the link that exists between this Agreement and the accounts receivable which stem from the provision of AGN services and to compensate Lessee for lost
revenue in the event the Lessor effects an Anticipated Termination of this Agreement before [***] and ensure that Lessor does not receive the benefit of accounts receivable for a particular month if the Anticipated Termination Date occurs at any
time prior to [***]. To this effect, subject to Section 1.5(c) hereof, Lessor shall pay to Lessee the product of (i) US$[***] plus the amount dictated by Mexican Value Added Tax and (ii) the number of months in 2011 for which
Lessee has not issued monthly bills to its AGN customer (the “Bills”) (so, for example, if the Bills for December 2011 are sent on December 5, 2011 and the Anticipated Termination Date occurs on December 6, 2011,
this subsection (a) would not apply, but if the bills for December 2011 were sent on December 5, 2011 and the Anticipated Termination Date occurs on December 1, 2011, Lessee shall be entitled to a payment of US$[***]). In the event
the Anticipated Termination Date occurs before December 31, 2011 but on the same day that Lessee is issuing the Bills, then the Anticipated Termination shall be deemed to have occurred before the Bills are issued such that the Lessee is owed
US$[***] and the Bills (and associated accounts receivable) are for Lessor’s benefit. 
 (b) The purpose of this subsection
(b) is to compensate Lessor for lost revenue in the event the Lessor effects an Anticipated Termination after [***] or this Agreement continues until the expiration of its Term on December 31, 2012. If the Anticipated Termination Date
occurs after [***] (or if there is no termination of this Agreement before the expiration of the Term on 

  
 Ex. A-2

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
December 31, 2012), Lessor shall be entitled to receive from Lessee an amount, in accordance with Section 1.5(c), equal to the product of (i) US$[***] plus the corresponding amount
dictated by the Mexican Value Added Tax Law and (ii) the number of months in 2012 for which Lessee has issued monthly Bills to its customers prior to such Anticipated Termination or Expiration. Notwithstanding the foregoing, if Lessee has
complied with its obligations under the NPA and this Agreement so that Lessor is then operationally prepared to transition as contemplated by the NPA and the Commercial Agreements, the amounts owing as specified in this Section 1.5(b)
shall cease to accrue at such time as Lessor has obtained that certain permit applied for on January 10, 2011 by Lessor with the Mexican Ministry of Communications and Transports to become a [***] in form and substance acceptable to Lessor (the
“[***] License”). 
 (c) Any payments required pursuant to Section 1.5(a) or
1.5(b) shall be made in cash in U.S. dollars no later than five (5) Business Days (as defined in the NPA) after the Anticipated Termination Date to an account designated by the party to receive the payment. 

(d) The occurrence of an Event of Default as provided for in Article IV. With respect to an Anticipated Termination pursuant to
this Section 1.5(d), no payments shall be due or owing with respect to Section 1.5(a) hereof. 
 (e) At
the end of the Term of this Lease [***], (i) Lessor and Lessee shall enter into and/or give effect to the Commercial Agreements (as defined in the NPA), as applicable and subject to that provided in the second paragraph of
Section 1.6 below and (ii) Lessor shall assist Lessee in collecting its accounts receivables as set forth in Section 6.3 of the NPA. 
 1.6 RETURN OF THE NODES. Upon expiration of the Term or Anticipated Termination, Lessee shall (i) hold and/or return the Nodes to Lessor, or shall otherwise cooperate in the disposition of the
Nodes, as directed by Lessor, and (ii) Transfer (as defined in the NPA), at cost, to Lessor any additional customer premises equipment acquired by Lessee in connection with the operation of the Nodes in accordance with Section 6.4
of the NPA. 
 In the event Lessor has not obtained the [***] License prior to the Term or at the time Lessor exercise its
Anticipated Termination rights, and Lessor intends to enter into similar lease or operating arrangements with a third party, Lessor shall provide notice to Lessee of such circumstance and Lessee shall be given equal opportunity to present to Lessor
with a proposal to operate the Nodes and provide the necessary services to Lessor; provided, however, that if Lessor chooses a third party to operate the Nodes and provide the necessary services to Lessor, Lessee shall enter into one
or more of the Commercial Agreements with such designee on substantially equivalent terms as those attached to the NPA, or otherwise enter into other agreements with Lessor mutually satisfactory to the Lessor and Lessee, to the extent requested by
Lessor in furtherance of the intent of an orderly transition and winding down of Lessee’s responsibilities in connection with the AGN customers and Bills. 
 1.7 LOCATION OF THE NODES. The parties acknowledge that the Nodes are located on Lessee’s premises at the Equipment Sites, and Lessee shall not remove it from said location without
prior written consent of Lessor. Lessor shall not be obligated to consent to a relocation of the Nodes and may withhold its consent at its discretion. Notwithstanding any other 

  
 Ex. A-3

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
provision in this Agreement, if most or all of the Nodes are threatened with immediate destruction at any Equipment Site, or Lessee is duly ordered by an authorized governmental authority to move
the Nodes, Lessee may relocate the Nodes upon prior notice to the Lessor to a site agreed to by Lessor. Lessee shall be responsible for all costs and expenses incurred in the relocation and all damage to the Nodes as a result of the relocation of
the Nodes. 
 ARTICLE II. DISCLAIMERS AND WARRANTIES; 

INTELLECTUAL PROPERTY 
 2.1 DISCLAIMERS; WARRANTIES. LESSOR LEASES THE NODES AS IS, AND, NOT BEING THE MANUFACTURER OF THE NODES, THE MANUFACTURER’S AGENT OR THE SELLER’S AGENT, MAKES NO WARRANTY OR
REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE, DESIGN OR CONDITION OF THE NODES. NEITHER PARTY SHALL BE RESPONSIBLE FOR ANY LOSS OR DAMAGE RESULTING FROM THE INSTALLATION, OPERATION OR OTHER
USE, OR DEINSTALLATION OF THE NODES, INCLUDING, WITHOUT LIMITATION, ANY DIRECT, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGE OR LOSS. Lessor, when requested in writing by Lessee and at Lessee’s expense, shall communicate with the manufacturer
or the supplier of any of the equipment comprising the Nodes for correction of any problems that may arise with respect thereto, and all warranties made by the manufacturer or such supplier are, to the degree possible, hereby assigned to Lessee for
the Term. To the extent any such warranty requires performance of any kind by the beneficiary of the warranty, Lessee shall perform in accordance therewith. Lessor shall provide written instructions to Lessee, including without limitation, all
technical requirements and specification or any other information Lessee must know or that may be requested by the supplier to Lessee. 
 2.2 INTELLECTUAL PROPERTY. EXCEPT AS MAY BE PROVIDED IN THE AGN AGREEMENTS, LESSOR MAKES NO WARRANTIES OR REPRESENTATIONS WHATSOEVER WITH RESPECT TO THE INTELLECTUAL PROPERTY RIGHTS, INCLUDING,
WITHOUT LIMITATION, ANY PATENT, COPYRIGHT AND TRADEMARK RIGHTS, OF ANY THIRD PARTY WITH RESPECT TO THE NODES, WHETHER RELATING TO INFRINGEMENT OR OTHERWISE. Lessor shall, when requested in writing, exercise rights of indemnification, if any, for
patent, copyright or other intellectual property infringement obtained from the manufacturer under any agreement for purchase of the Nodes. If notified promptly (from the date on which Lessee was notified of any such event) in writing of any action
brought against Lessee based on a claim that the Nodes infringes a United States or Mexican patent, copyright or other intellectual property right, Lessor shall promptly notify the manufacturer thereof for purposes of exercising, for the benefit of
Lessee, Lessor’s rights with respect to such claim under any such agreement. 
 ARTICLE III. COVENANTS OF LESSEE AND
LESSOR 
 3.1 PAYMENTS UNCONDITIONAL; TAX BENEFITS; ACCEPTANCE. EACH RENT SHALL BE A NET RENT, AND LESSEE’S
OBLIGATION TO PAY ALL 

  
 Ex. A-4

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
RENT AND OTHER SUMS THEREUNDER, AND THE RIGHTS OF LESSOR IN AND TO SUCH PAYMENTS, SHALL BE ABSOLUTE AND UNCONDITIONAL, AND SHALL NOT BE SUBJECT TO ANY ABATEMENT, REDUCTION, SETOFF, DEFENSE,
COUNTER CLAIM, INTERRUPTION, DEFERMENT OR RECOUPMENT, FOR ANY REASON WHATSOEVER. It is the intent of Lessor, and an inducement to Lessor, to enter into this Agreement, to claim all available tax benefits of ownership with respect to the Nodes
subject thereto, notwithstanding Lessee shall be entitled to claim any tax benefits available to Lessee as per its condition under this Agreement. Lessee’s acceptance of the Nodes subject to this Agreement shall be conclusively and irrevocably
evidenced by Lessee executing this Agreement, upon which event this Agreement shall be noncancellable for the Term unless as provided in Section 1.5 or otherwise agreed to in writing by the Parties. 

3.2 USE OF THE NODES. Lessee shall use the Nodes solely as provided in the AGN Agreements and in a manner and for the use
contemplated by the manufacturer thereof, and in compliance with all laws, rules and regulations of every governmental authority having jurisdiction over the Nodes or Lessee and with the provisions of all policies of insurance carried by Lessee
pursuant to Section 3.6 below. Except for any tax owed by Lessor as owner of the Nodes, Lessee shall pay all costs, expenses, fees and charges incurred in connection with the use and operation of the Nodes. 

3.3 RETURN; MAINTENANCE AND REPAIR; INSPECTION. . Lessee shall maintain and keep the Nodes in good repair, condition and working
order, ordinary wear and tear excepted, and, at the expiration or termination of the Term, with respect to any of the Nodes, have such Nodes inspected and certified acceptable for maintenance service by the manufacturer. In the event any of the
Nodes, upon its return to Lessor, is not in good repair, condition and working order, ordinary wear and tear excepted, Lessee shall be obligated to pay Lessor for the reasonable out-of-pocket expenses Lessor incurs in bringing such Nodes up to such
status, but not in excess of the total amount insured for such Nodes, promptly after its receipt of an invoice for such expenses, provided that any such expense shall be previously authorized by Lessee. Lessor shall be entitled to inspect the Nodes
at Lessee’s location at reasonable times, giving Lessee five (5) business days prior notice to any such inspection. 
 Lessor shall pay Lessee an amount equal to US$[—]1, plus applicable Mexican Value Added Tax, per month, in consideration for Lessee’s maintenance and other related
services to the Nodes (the “Maintenance Fee”). The first Maintenance Fee shall be payable on the date of execution of this Agreement. Thereafter, the Maintenance Fee shall be payable in advance once a month no later than
thirty days from date of electronic receipt of the Invoice (as defined in the NPA) from Lessee. Maintenance Fee payable by Lessor to Lessee hereunder shall be paid to Lessee at the address specified above, or at such other place as Lessee may
designate in writing to Lessor from time to time. LESSOR’S OBLIGATION TO PAY THE MAINTENANCE FEE AND OTHER SUMS THEREUNDER, AND THE RIGHTS OF LESSEE IN AND TO SUCH PAYMENTS, SHALL BE ABSOLUTE AND UNCONDITIONAL, AND SHALL NOT BE SUBJECT TO ANY
ABATEMENT, REDUCTION, SETOFF, DEFENSE, COUNTER CLAIM, INTERRUPTION, DEFERMENT OR RECOUPMENT, FOR ANY REASON WHATSOEVER. 
  

 

	1 	 [***] 

  
 Ex. A-5

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 3.4 [Intentionally Omitted] 

3.5 LOSS OF THE NODES. With effect as from the date of execution of this Agreement and until such time as the Nodes is returned to
Lessor upon termination of this Agreement under circumstances set forth in Section 1.5, Lessee shall bear the entire risk of the Nodes being lost, destroyed or otherwise permanently unfit or unavailable for use from any cause whatsoever
(an “Event of Loss”), provided, however, that Lessee shall not be liable and shall not bear any risk of loss in the event that any such loss is caused by the gross negligence or omissions of Lessor, its employees, or
subcontractors. If an Event of Loss shall occur with respect to any item of Nodes, Lessee shall promptly notify Lessor thereof in writing. Upon the making of such payment by Lessee regarding any item of the Nodes, the Rent (and the Maintenance Fee)
for such item of the Nodes shall cease to accrue, the Term of this Agreement to such item of the Nodes shall terminate and (except in the case of loss, theft or complete destruction) Lessor shall be entitled to recover possession of such item of the
Nodes in accordance with the provisions of Section 3.3 above. 
 3.6 INSURANCE. The Parties agree to apply
the terms and conditions set forth in Article 13 of the AGN Cooperation Agreement for all insurance matters. 
 3.7
INDEMNITY. The Parties agree to apply the terms and conditions set forth in Articles 16 and 18 of the AGN Cooperation Agreement for all indemnity matters. 
 3.8 PROHIBITIONS RELATED TO LEASE AND THE NODES. Without the prior written consent of Lessor, Lessee shall not: (a) assign, transfer, pledge, encumber, hypothecate or otherwise dispose of the
Nodes, lease or any rights or obligations thereunder; (b) sublease any of the Nodes; (c) create or incur, or permit to exist, any lien or encumbrance with respect to any of the Nodes, or any part thereof; (d) move any of the Nodes
from the Equipment Site location; or (e) permit any of the Nodes to be moved outside the continental limits of the United Mexican States. Without prior written consent of Lessee, Lessor shall not lease (besides this Agreement), sell, transfer,
and create any security interest, lien or other interest in the Nodes during the Term. If any of the foregoing situations arise, the Party undertaking the prohibited activity will give written notice to the other Party of such event. 

3.9 IDENTIFICATION. Lessor shall place as desired, and Lessee shall maintain, permanent markings provided by Lessor on the Node
utensils evidencing ownership, security and other interests therein. 
 3.10 ALTERATIONS AND MODIFICATIONS. Lessor shall
make such additions, attachments, alterations or improvements to the Nodes as provided in the AGN Agreements and subject to the terms and conditions therein (the “Alterations”) or, at Lessor’s option and request, Lessee
shall make such Alterations in which case Lessor shall promptly reimburse Lessee for the corresponding cost. 
 3.11 NODES TO
BE PERSONAL PROPERTY. Lessee acknowledges and represents that the Nodes shall be and remain personal property, notwithstanding the manner in 

  
 Ex. A-6

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
which it may be attached or affixed to realty, and Lessee shall do all reasonable acts and enter into all agreements necessary to ensure that the Nodes remains personal property. 

ARTICLE IV. DEFAULT AND REMEDIES 
 4.1 EVENTS OF DEFAULT. The occurrence of any of the following shall constitute an “Event of Default” hereunder: (a) Lessee shall fail to perform any material covenant,
including payment of Rent when due and payable, condition or agreement made by it under this Agreement, and such failure shall continue for ninety (90) days after its receipt of notice thereof; or (b) Lessee is the subject to a court
resolution resulting in dissolution, reorganization, bankruptcy or concurso mercantil. 
 4.2 REMEDIES. If an
Event of Default hereunder shall occur and shall continue, Lessor may, at its option, exercise any one or more of the following remedies: (a) terminate this Agreement and Lessee’s rights thereunder upon notice to Lessee; (b) proceed
to enforce performance by Lessee of the applicable covenants of this Agreement or to recover damages for the breach thereof; (c) recover from Lessee or, at Lessor’s option, set off such amounts Lessor owes Lessee under the AGN Agreements,
an amount equal to the sum of all accrued and unpaid Rent and other amounts due under this Agreement, (d) personally, or by its agents, take immediate possession of any or all of the Nodes from Lessee and, for such purpose, enter upon
Lessee’s premises where any of the Nodes is located with or without notice or process of law and free from all claims by Lessee; and (e) require the Lessee to assemble the Nodes and deliver the Nodes to Lessor at a location which is
reasonably convenient to Lessor and Lessee. The exercise of any of the foregoing remedies by Lessor shall not constitute a termination of this Agreement unless Lessor so notifies Lessee in writing. 

ARTICLE V. MISCELLANEOUS 
 5.1 PERFORMANCE OF LESSEE’S OBLIGATIONS. Upon Lessee’s failure to perform any obligation hereunder when due, Lessor shall have the right, but shall not be obligated, to perform such
obligation, whereupon the cost of such performance shall immediately become due and payable hereunder as additional Rent. 
 5.2
QUIET ENJOYMENT. So long as no Event of Default shall have occurred and be continuing, neither Lessor nor its assignee shall interfere with Lessee’s right of quiet enjoyment and use of the Nodes. 

5.3 RIGHT AND REMEDIES. Each and every right and remedy granted to the parties herein under this Agreement shall be cumulative and
in addition to any other right or remedy therein specifically granted to nor or hereafter existing in equity, at law, by virtue of statute or otherwise, and may be exercised by the respective party from time to time concurrently or independently and
as often as such party may deem expedient. Any failure or delay on the part of the respective party in exercising any such right or remedy, or abandonment or discontinuance of steps to enforce the same, shall not operate as a waiver thereof or
affect such 

  
 Ex. A-7

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
party’s right thereafter to exercising the same. Waiver of any right or remedy on one occasion shall not be deemed to be a waiver of any other right or remedy or of the same right or remedy
on any other occasion. 
 5.4 NOTICES. Any notice, request, demand, consent, approval or other communication provided for
or permitted hereunder shall be in writing and shall be conclusively deemed to have been received by a party hereto on the day it is delivered to such party at its address as set forth above (or at such other addresses such party shall specify to
the other party in writing), or if sent by registered or certified mail, return receipt requested, on the fifth day after the day on which it is mailed, postage prepaid, addressed to such party. 

5.5 DAYS; SECTION HEADINGS; COUNTERPARTS. For all purposes of this Agreement unless otherwise explicitly provided herein, the
reference to “day” or “days” shall refer to a calendar day or days. Section headings are inserted for convenience of reference only and shall not affect any construction or interpretation of this Agreement. This Agreement may be
executed in counterparts, and when so executed each counterpart shall be deemed to be an original, and such counterparts together shall constitute one and the same instrument. 
 5.6 ENTIRE LEASE. This Agreement constitutes the entire agreement between Lessor and Lessee with respect to the lease of the Nodes. No amendment of, or any consent with respect to, any provision of
this Agreement shall bind either party unless set forth in a writing, specifying such waiver, consent, or amendment, signed by both parties. TO THE EXTENT PERMITTED BY APPLICABLE LAW AND NOT OTHERWISE SPECIFICALLY PROVIDED TO LESSEE IN THIS
AGREEMENT, LESSEE HEREBY WAIVES ANY AND ALL RIGHTS OR REMEDIES CONFERRED UPON A LESSEE UNDER THE NEW YORK COMMERCIAL CODE, AND ANY OTHER APPLICABLE SIMILAR CODE OR STATUTES OF ANOTHER JURISDICTION, WITH RESPECT TO A DEFAULT BY LESSOR UNDER THIS
AGREEMENT. 
 5.7 ASSIGNMENT. Lessee may not assign or transfer its rights and/or obligations hereunder without the prior
written consent of Lessor, which consent shall not be unreasonable withheld, provided however, that Lessee may assign upon notice to Lessor some or all of its rights and obligations to an Affiliate. 

5.8 SEVERABILITY. Should any provision of this Agreement be or become invalid, illegal, or unenforceable under applicable law, the
other provisions of this Agreement shall not be affected and shall remain in full force and effect. 
 5.9 ATTORNEYS’
FEES. Should either party institute any action or proceeding to enforce this Agreement, the prevailing party shall be entitled to receive from the other party all reasonable out-of-pocket costs and expenses, including, without limitation,
reasonable attorneys’ fees. 
 5.10 GOVERNING LAW AND JURISDICTION. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS
BY THE LAWS OF THE STATE OF NEW YORK EXCEPT FOR PROVISIONS RELATING CONFLICTS OF LAW. Any controversies arising 

  
 Ex. A-8

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
in connection with the interpretation or enforcement of this Agreement, shall be resolved pursuant to Section 10.3 of the NPA. 

5.11 SURVIVAL. All obligations of Lessee to make payments to Lessor under this Agreement or to indemnify Lessor with respect to
the Nodes, and all rights of Lessor hereunder with respect to this Agreement, shall survive the termination of this Agreement. 

5.12 PAYMENTS UPON TERMINATION. Except as otherwise provided for in this Agreement, within thirty (30) days from the
expiration of the Term or Anticipated Termination Date, the parties shall pay and/or reimburse any amounts due each other pursuant to this Agreement. 
 ** REMAINDER OF PAGE INTENTIONALLY LEFT BLANK** 

  
 Ex. A-9

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 BOTH PARTIES BY THE SIGNATURE BELOW OF ITS RESPECTIVE AUTHORIZED REPRESENTATIVES, EACH ACKNOWLEDGE
THAT IT HAS READ THIS LEASE, UNDERSTANDS IT, AND AGREES TO BE BOUND BY ITS TERMS AND CONDITIONS. 
  

									
	AT&T Global Network	 		 	Alestra S R.L. de C.V.
	Services Mexico, S. de R.L. de C.V.	 		 		 	
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	

  
 Ex. A-10

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 Exhibit B 

LEASE AND SERVICES AGREEMENTS 
 [***] 

  
 Ex. B-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 Exhibit C 

TRANSITION SERVICES AGREEMENT 
 This Transition Services Agreement (this “Agreement”), dated as of             , 201  , is made by and
between Alestra S. de R.L. de C.V., a Mexican company (“Providing Party”), on behalf of itself and its subsidiaries, and AT&T Global Network Services Mexico S. de R.L. de C.V., a Mexican company (“Receiving
Party”), on behalf of itself and its Affiliates. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Equipment Lease Agreement and/or Nodes Purchase Agreement (as applicable) described below.

 WHEREAS, Providing Party and Receiving Party have entered into that certain Nodes Purchase Agreement, dated as of April __,
2011 (the “Nodes Purchase Agreement”); 
 WHEREAS, pursuant to the Nodes Purchase Agreement, Providing Party
has sold, and Receiving Party has purchased, the Nodes (as defined in the Nodes Purchase Agreement); and Receiving Party has applied for a permit so that the Receiving Party will be able to [***] provide certain value added and telecommunications
services (“AGN Services”) in Mexico utilizing the Nodes; 
 WHEREAS, as contemplated by the Nodes Purchase
Agreement, Providing Party and Receiving Party entered into that certain Equipment Lease Agreement, dated as of             , 2011 (the “Equipment Lease Agreement”);

 WHEREAS, as of immediately prior to the date hereof, Providing Party has leased from Receiving Party and operated the Nodes
and utilized such Nodes to fulfill certain enterprise customers’ needs for AGN Services in Mexico pursuant to that certain AT&T Global Network Cooperation Agreement to which Providing Party and an Affiliate of Receiving Party are parties
(the “AGN Cooperation Agreement”); 
 WHEREAS, Receiving Party desires that Providing Party provide the certain
services, including the services described in the Schedules attached hereto (the “Transition Services”) for a transition period following the Anticipated Termination Date (as such term is defined in the Equipment Lease Agreement);

 WHEREAS, concurrently with the execution of this Agreement, Providing Party and Receiving Party are entering into a Wholesale
Interconnection and Access Service Agreement relating to certain to Receiving Party obtaining, procuring and otherwise leasing access connectivity and other interconnection services from Providing Party (such agreement as executed on the date
hereof, the “Wholesale Agreement”); and 
 WHEREAS, the Equipment Lease Agreement requires that Providing Party and
Receiving Party enter into this Agreement on the Anticipated Termination Date. 

  
 Ex. C-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 NOW, THEREFORE, in consideration of the premises and the
mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

SECTION 1 

AGREEMENT TO PROVIDE SERVICES 
 1.1 Provision of Services. In consideration of the payments described under Section 2 below, Providing Party shall provide to Receiving Party the Transition Services for the time periods and
on the terms set forth herein and in the Schedules hereto. Any time period listed in the Schedules may be extended at the request of Receiving Party for a period of time to be agreed upon by the parties, but not to exceed two (2) thirty
(30)-day extensions from the date of expiration of the relevant time period, and such request shall not be declined by Providing Party, if at the expiration of such time period such request is not made in bad faith or as a result of Receiving
Party’s lack of good faith efforts to complete the assumption of the Transition Services. In every case, all of the Transition Services shall be provided in accordance with the terms, limitations and conditions set forth herein and in the
Schedules. 
 1.2 Books and Records. Providing Party shall keep books and records of the Transition Services provided
and, with respect to and during the time periods for which Providing Party is receiving payments or reimbursements hereunder, supporting documentation of all out-of-pocket costs incurred in providing the Transition Services, and shall make such
books and records available to Receiving Party for inspection and audit by mutually acceptable independent auditors, upon reasonable notice, at Providing Party’s reasonable convenience and during normal business hours. Such books and records
shall be made available to Receiving Party at Providing Party’s place of business, unless Providing Party, in its sole discretion, determines to deliver such books and records to Receiving Party. 

SECTION 2 

SERVICES; PAYMENT; INDEPENDENT CONTRACTOR 
 2.1 Services to be Provided. 
 (a) Unless otherwise set forth or
contemplated by the Schedules or as agreed in writing by the parties, Providing Party shall, to the extent applicable, provide the Transition Services to Receiving Party in substantially the same manner, having the same quality and in accordance
with the same standards as the Transition Services were performed by or for the Providing Party’s operations prior to the Anticipated Termination Date and in a manner so that the AGN Services provided [***] by Receiving Party to its customers
after the Anticipated Termination Date will be of the same type and quality as such customers received under the AGN Cooperation Agreement prior to the Anticipated Termination Date; provided, however, Providing Party shall have no obligation
to provide Transition Services which require Providing Party to utilize additional resources beyond those it needed to perform its obligations under the AGN Cooperation Agreement immediately prior to the Anticipated Termination Date, to the

  
 Ex. C-2

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 
extent applicable. Providing Party represents and warrants to Receiving Party that (i) Providing Party is free to provide each Transition Service to Receiving Party without obtaining the
consent of any supplier, lessor, vendor or licensor of Providing Party and (ii) the provision of any Transition Service does not and will not breach or otherwise conflict with any agreement between Providing Party and any third party.

 (b) Nothing contained herein or in the Schedules shall constitute or be deemed to constitute a partnership, joint venture or
agency relationship between Providing Party and Receiving Party. Providing Party shall not have any right or authority, and shall not attempt to enter into any contract, commitment, or agreement or incur any debt or liability, of any nature, in the
name of Receiving Party except as expressly set forth in the Schedules or other definitive agreement between the parties. Providing Party shall act under this Agreement solely as an independent contractor and not as an agent or subordinated party of
Receiving Party. Nothing contained herein shall constitute or be deemed to constitute an employment relationship between Receiving Party and the employees of Providing Party engaged in the providing of Transition Services. Providing Party shall be
solely responsible for the payment of compensation and benefits to its employees and any payments or withholdings to governmental agencies relating to its employees, and shall make all staffing decisions and direct the performance of the Transition
Services. 
 (c) Providing Party shall have the right to suspend the provision of relevant Transition Services at any time it or
any of its Affiliates has to shut down temporarily for maintenance purposes the operation of the facilities providing any Transition Service whenever, in its reasonable discretion, such action is necessary; provided that Providing Party shall
(i) give Receiving Party as much advance notice as is reasonably practicable of any shutdown of the facilities providing any Transition Services and (ii) use reasonable efforts to schedule maintenance in consultation with Receiving Party
so as not unreasonably to interfere with Receiving Party’s business. Where feasible, Providing Party’s notice of any shutdown shall be given in writing. Where written notice is not feasible, oral notice shall be given and promptly
confirmed in writing. Providing Party shall be relieved of its obligations to provide the Transition Services during the period that it or its Affiliates’ facilities are so shut down but shall use reasonable efforts to minimize each period of
shutdown for such purpose and to schedule such shutdown so as not to inconvenience or disrupt the operations of Receiving Party. 
 (d) Each of Providing Party and Receiving Party appoint the following individuals, who shall serve as the coordinator for purposes of communicating with the other party regarding this Agreement and who
shall be authorized to act on behalf of his or her respective party as to matters pertaining to this Agreement: 
  

			
	For Receiving Party:	  	For Providing Party:
		
	Name: [***]	  	Name:
[                                        
]
		
	Title: Exec. Director Project Management	  	Title: [                        ]
		
	Address: 1 AT&T Way, Bedminster, NJ	  	Address:
[                            ]

  
 Ex. C-3

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
  

			
	07921-2693	 	
		
	Phone: [***]	 	Phone: [                    ]
		
	E-mail address: [***]	 	E-mail address: [                    ]

The coordinator shall coordinate with contact person(s) set out in the Schedules, as necessary. Each party shall notify the other in writing as to the
name, address and telephone number of any replacement for such designated coordinator, and such contact person(s) set out in the Schedules. 
 2.2 Payment. To the extent the Schedules to this Agreement specify that Receiving Party must make a payment to Providing Party for Transition Services rendered hereunder, any statements that may be
rendered by Providing Party to Receiving Party with respect to Transition Services will be rendered each month for Transition Services delivered during the preceding month, and each such statement shall set forth in reasonable detail a description
of such Transition Services and the costs to be reimbursed therefor (and shall include reasonable documentation evidencing any amount included therein for costs and expense, to the extent specified in the Schedules hereto that Receiving Party shall
be responsible for such payment) as required to comply with applicable tax regulations and shall be payable net forty-five (45) days after the date thereof, unless otherwise noted in the Schedules. Statements shall be in US Dollars. Except for
the payments expressly provided in the Schedules, no further payments (including in respect of reimbursement for costs and expenses) shall be due to Providing Party for the Transition Services set forth in the Schedules (even if Providing Party
engages third party service providers to provide Transition Services). Except as expressly provided otherwise in the Schedules, if any Transition Service is terminated prior to the end of a full payment period, any payment with respect to such
partial period shall be appropriately pro-rated to the date of termination or cancellation. 
 2.3 Priorities. In
providing the Transition Services, Providing Party shall accord Receiving Party substantially the same priority and level of Transition Services that Receiving Party afforded itself prior to the Anticipated Termination Date, to the extent
applicable. 
 2.4 Taxes. All payments by Receiving Party to Providing Party for the Transition Services under this
Agreement shall be increased to cover any applicable sales tax, value-added tax or consumption tax, goods and services tax or similar tax (“Taxes”) (but excluding any tax based upon the net income of Providing Party) payable with
respect to the provision by Providing Party of the Transition Services under applicable law and properly charged to the Receiving Party on a valid tax invoice, and Providing Party shall be responsible for remitting (or causing its Affiliates and/or
agents, as applicable to remit) any such Taxes to the appropriate Governmental Body. 

  
 Ex. C-4

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 2.5 Use of Transition Services. Providing Party shall
be required to provide the Transition Services only to Receiving Party in connection with the conduct of Receiving Party’s provision of AGN Services in the ordinary course of Receiving Party’s business in Mexico. 

2.6 Title to Intellectual Property. To the extent that Providing Party uses intellectual property owned by Providing Party, its
Affiliates or a third party in connection with providing the Transition Services, such intellectual property, and any derivative works, additions, modifications or enhancements thereof created during the term hereof, shall remain the sole property
of Providing Party, its Affiliates or the third-party. 
 SECTION 3 

TERM OF PARTICULAR SERVICES 
 3.1 Term and Termination. The provision of the Transition Services shall commence on the date hereof and each Transition Service shall terminate at the end of the time periods set forth in the
Schedules with respect to such Transition Service, unless extended as provided in Section 1.1 above; provided, however, that Receiving Party may cancel any Transition Service early by providing written notice to Providing Party (such
cancellation to be effective as of the date of receipt of such notice, or, if later, the date specified for cancellation in the notice). 
 3.2 Return of Records. Upon the termination of any Transition Service with respect to which Providing Party or its Affiliates hold books, records or files, including, but not limited to, current
and archived copies of computer files, owned by Receiving Party and used by Providing Party or its Affiliates in connection with the provision of a Transition Service to Receiving Party, Providing Party will return all of such books, records or
files as soon as reasonably practicable, but not later than thirty (30) days after such termination. Providing Party may make duplicates of such books, records or files for its legal files at its own cost. 

SECTION 4 

LATE PAYMENT; LIABILITIES; FORCE MAJEURE 
 4.1 Late Payment etc. The provisions of Sections 10.2, 10.3, 10.4, 10.5, and 10.6 of the Wholesale Agreement shall apply mutatis mutandi to this Agreement. 

4.2 Liabilities; Force Majeure. The provisions of Article 14 (Limitations of Liability), Article 15 (Indemnification), and Article
17 (Force Majeure) in the Wholesale Agreement shall apply mutatis mutandi to this Agreement. 
 SECTION 5 

TERMINATION 
 5.1 Termination. This Agreement shall terminate on the earliest to occur of (a) the date on which the provision of all Transition Services has terminated or been cancelled pursuant to
Section 3.1, or (b) the date on which this Agreement is terminated pursuant to Section 5.2. 

  
 Ex. C-5

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 5.2 Breach of Agreement. If either party shall cause
or suffer to exist any material breach of any of its obligations under this Agreement, including but not limited to any failure to make payments when due, and said party does not cure such default within sixty (60) days after receiving written
notice thereof from the non-breaching party, the non-breaching party may terminate this Agreement, including the provision of the Transition Services pursuant hereto, immediately by providing written notice of termination. 

5.3 Sums Due. In the event of a termination or cancellation of this Agreement, Providing Party shall be entitled to, and Receiving
Party shall pay, all outstanding amounts due from Receiving Party pro-rated to the date of termination or cancellation, subject to Section 5.4. 
 5.4 Effect of Termination. Sections 1.2, 2.2, 2.4, 2.5, 2.6, 3.2, 4.1, 4.2, 5.3, this Section 5.4, and all of Section 6 (other than Section 6.12) shall survive any termination of
this Agreement. No such termination shall relieve a party of any payment or other obligation, or responsibility for any breach, arising under this Agreement as of or prior to such termination. 

SECTION 6 

MISCELLANEOUS 
 6.1 Notice. Except as otherwise provided, all notices which are permitted or required under this Agreement shall be in writing and shall be deemed given (a) when delivered personally,
(b) if by fax upon transmission with confirmation of receipt by the receiving party’s facsimile terminal, (c) if sent by documented overnight delivery service on the date delivered or (d) if sent by mail, five (5) business
days after being mailed by registered or certified mail, postage prepaid, addressed as follows, or to such other person or address as may be designated by notice to the other party: 

 

					
	If to Providing Party, to:
		
	  
	 	
	  
	 	
	Alestra S. de R.L. de C.V.
	  
	 	
	  
	 	
	Tel: +	 	  
	 	
	Fax: +	 	  
	 	
	Email:	 	  
	 	
	
	with a copy (which shall not constitute notice) to:
		
	  
	 	
	  
	 	
	  
	 	
	  
	 	
	  
	 	
	Tel: +	 	  
	 	
	Fax: +	 	  
	 	
	Email:	 	  
	 	

  
 Ex. C-6

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
  

					
	or if to Receiving Party, to:
	
	[***]
	1 AT&T Way
	Bedminster, NJ 07921-2693
			
	Tel:	 	[***]	 	
	Fax:	 	  
	 	
	Email: [***]	 	
	
	with a copy (which shall not constitute notice) to:
		
	[***]	 	
	General Attorney-Mergers & Acquisitions
	AT&T Inc.
	One AT&T Plaza
	208 S. Akard; Room 3214
	Dallas, TX 75202
	Tel: [***]
	Fax: [***]
	email: [***]

 6.2
Headings. The section or other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 

6.3 Entire Agreement. This Agreement and the Nodes Purchase Agreement, including all schedules and exhibits attached hereto and
thereto, and all certificates and documents executed and delivered in connection with the Nodes Purchase Agreement, when executed and delivered, and the other Commercial Agreements (as such term is defined in the Nodes Purchase Agreement, constitute
the entire agreement of the parties, superseding and extinguishing all prior agreements and understandings, representations and warranties, relating to the subject matter hereof. 

6.4 Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed and delivered, shall
be an original instrument, but counterparts together shall constitute a single agreement. 
 6.5 Governing Law and Dispute
Resolution. The provisions of Article 20 (Governing Law and Dispute Resolution) in the Wholesale Agreement shall apply mutatis mutandi to this Agreement. 
 6.6 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties, their successors, permitted assigns and legal representatives. If an assignment occurs,
such assignment will not relieve the assigning party from its liabilities or obligations under this Agreement. 

  
 Ex. C-7

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 6.7 Assignment and Delegation. Receiving Party shall
not assign any of its rights or otherwise delegate any of its duties under this Agreement without the prior written consent of Providing Party (but, for the avoidance of doubt, it is understood that Receiving Party includes any applicable Affiliates
of AT&T Corp.). Providing Party may not assign or delegate performance of all or any part of its obligations under this Agreement to any other person without the prior written consent of Receiving Party. Any purported assignment in violation of
this Section 6.7 shall be void. 
 6.8 Modification and Amendment. This Agreement may not be modified or amended
except by written agreement specifically referring to this Agreement and signed by the parties hereto. 
 6.9 Waivers. No
waiver of a breach or default hereunder shall be considered valid unless in writing and signed by the party giving such waiver, and no such waiver shall be deemed a waiver of any subsequent breach or default of the same or similar nature.

 6.10 Severability. Any provision of this Agreement which is invalid or unenforceable shall be ineffective to the
extent of such invalidity or unenforceability, provided that such invalidity or unenforceability does not deny any party the material benefits of the transactions for which it has bargained, such invalidity or unenforceability shall not
affect in any way the remaining provisions hereof. 
 6.11 Title to Data. Subject to the provisions of the [AGN Node
Purchase Agreement], Receiving Party acknowledges that it will acquire no right, title or interest (including any license rights or rights of use) in any software, and the licenses therefore which are owned by Providing Party or its Affiliates, or
to any data or content handled by the Receiving Party and/or stored in such software, solely by reason of Providing Party or its Affiliates’ provision of the Transition Services provided hereunder. 

6.12 Further Assurance. Each party covenants and agrees to (i) execute and deliver such additional documents as may be
reasonably requested by the other party, (ii) make available on a timely basis such additional information and materials as may be reasonably be requested by the other party, and (iii) take such other actions as may be reasonably requested
by the other party, in order to make the Transition Services available to Receiving Party in accordance with the terms and conditions hereof and to otherwise implement or give effect to this Agreement and the matters contemplated hereby. Throughout
the period of this Agreement, the parties shall cooperate and support each other in providing and migrating the Transition Services from Providing Party to Receiving Party. Providing Party will use its commercially reasonable efforts to promptly
accommodate any reasonable requests by Receiving Party to provide additional services or modified Transition Services requested by Receiving Party that were not included in the Schedules as of the date of this Agreement but that Receiving Party
reasonably determines is a material service (or modification to a Transition Service) necessary for the provision of AGN Services following the Anticipated Termination Date consistent with the intent of this Agreement. To the extent such additional
services create material additional costs for Providing Party, the Providing Party and Receiving Party shall establish a reasonably satisfactory method of reimbursement from Receiving Party to Providing Party intended to make

  
 Ex. C-8

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 
Providing Party whole (neutral) with respect to such additional cost (without any margin or profit to be included in such reimbursement). 

6.13 Due Execution and Delivery. Each of the parties covenants that its execution and delivery of this Agreement has been duly
authorized, that the Agreement has been duly executed and delivered and that it has the full power and authority to perform its obligations hereunder. 
 7.14 Confidentiality. Each of the parties undertakes to keep the other party’s information (including all data and content stored and/or processed by the Providing Party pursuant to this
Agreement) relating to the AGN Services or the Transition Services confidential and not to disclose it without the prior written consent of the other party. 
 7.15 Specific Performance. Each party agrees that the other party would be damaged irreparably if any provision of this Agreement is not performed in accordance with its terms or otherwise is
breached, so that a party shall be entitled to injunctive relief to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in addition to any other remedy to which such
party may be entitled, at law or in equity. 
 [Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
 Ex. C-9

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first written above. 
  

									
	 AT&T GLOBAL NETWORK
 SERVICES S. de R.L. de C.V.
	 		 	ALESTRA S. de R.L. de C.V.
					
	By:	 	  
	 		 	By:	 	  

		 	Name:	 		 		 	Name:
		 	Title:	 		 		 	Title:

  
 Ex. C-10

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE I 

GENERAL PRINCIPLES 
  

	1.	Start/End Date. The Providing Party will begin providing services at the Anticipated Termination (as defined in the Equipment Lease Agreement) and continue for a
period of twelve (12) months thereafter, or for such shorter or longer period as the parties may agree (or as otherwise more specifically provided in other Schedules hereto with respect to any particular services specified in such other
Schedules). 

  

	2.	Summary of Principles 

  

			
	 Principle
	  	 Description

	Transition Support	  	 Using reasonable best efforts, the Providing Party and Receiving Party shall co-operate and act in good faith to facilitate the transfer
of the assets, contracts, systems and processes contemplated by the Nodes Purchase Agreement, this Transition Services Agreement and the other Commercial Agreements.
  

Such Transition Services shall include Providing Party promptly responding to requests from Receiving Party regarding such systems and processes. System
data transfer shall be provided by Providing Party across the full end to end business functions (including, without limitation, Sales, Ordering, Service Delivery, Service assurance, and Customer billing) with respect to all applicable circuits,
equipment and all other assets being transferred under the Nodes Purchase Agreement or Commercial Agreements.

		
	Human Resources	  	Providing Party shall make appropriate personnel reasonably available to the extent that Receiving Party requires such personnel for consultation or if needed full time engagement
with the appropriate commercially reasonable charges (as may be mutually agreed) in order for Providing Party to perform its obligations under the Nodes Purchase Agreement, this Transition Services Agreement and the other Commercial Agreements and
for Receiving Party to realize the intended benefits of those agreements.

  

	3.	Contact Person for Receiving Party (Transition Support): 

 Name: [***] 
 Address: 1 AT&T WAY , 5C222B , BEDMINSTER , NJ 07921 USA

 Telephone No.: +[***] 
 Email address: [***] 
  

	4.	Contact Person for Receiving Party (HR): 

 Name: [***] 
 Address: 1 AT&T WAY , 4A124 , BEDMINSTER , NJ 07921 USA

 Telephone No +[***] 
 Fax No.: +1 [***] 
 Email address [***] 

  
 Ex. C-11

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
  

	5.	Contact Person for Providing Party: 

 Name: Ignacio Guzman 
 Telephone No.: + 52 81 8625 2121 

Email address: iguzman@alestra.com.mx 

  
 Ex. C-12

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE II 

CUSTOMER BILLING DATA & ACCOUNT MANAGEMENT SERVICES 

 

	1.	Start/End Date. The Providing Party will make available to the Receiving Party billing data and account management services on the Anticipated Termination or as
soon as practicable thereafter to the extent relevant to the AGN Customers or Nodes. For up to nine (9) months after the Anticipated Termination, unless otherwise indicated below, the Providing Party shall make its personnel reasonably
available to answer any questions from Receiving Party with respect to customer billing data, account management, provisioned customer information, transactional history for AGN Customers. 

 

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	Customer Billing	  	At the Anticipated Termination, or as soon as practicable thereafter, the Providing Party shall provide the Receiving Party with customer billing data relating to AGN Customers.
(See Schedule II Appendix A for specific details). This may include actual alternative bill production and invoice distribution to continue for up to nine (9) months, after the Anticipated Termination.
		
	Customer Account Management	  	Upon request from the Receiving Party, the Providing Party shall provide the Receiving Party with relevant information from the Providing Party’s systems relating to the AGN
Customers or Nodes or otherwise useful for Receiving Party to continue provision services utilizing the Nodes that may continue to report relevant information relating to AGN Customers. See Schedule II Appendix A .

 

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Customer Billing	  	Providing Party shall transfer to the Receiving Party the Providing Party’s customer billing records for AGN Customers in a manner reasonably requested by Receiving Party. The
AGN Customer billing records shall include those billing fields currently employed by the Providing Party, including (as may be readily obtainable), bill-to contact, address, and related contract terms and billing cycles. See Schedule II, Appendix A
for specific details, as well as Schedules III (AR Transactional and Collection History), Schedule V (data transfer) and VII for CPE billing.
		
	Alternative Billing Services	  	To the extent requested at or about the Anticipated Termination, the Providing Party shall provide to the Receiving Party alternative billing services relating to the AGN Customers.
This may include contract rate implementation for billing events, actual bill production with AT&T logo, remittance lockboxes, invoice validation and reconciliation with the Receiving Party, invoice distribution, and invoice reprints or invoice
reimages to continue

  
 Ex. C-13

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

			
		  	for up to nine (9) months. Pricing for these services shall be attached hereto as Annex      [Annex to be finalized by the date of execution of this
Transition Services Agreement, but in no event shall the pricing be in excess of the Seller proposal dated as of February 21, 2011.]
		
	 Provision of Customer Billing

Data/Information
	  	 Providing Party will provide to the Receiving Party, detailed customer billing records to correspond to all invoices issued during the
month. (See Schedule II Appendix A for specific details & Schedule VII for CPE billing).
  
 Upon the Anticipated Termination, the Providing Party will provide to the Receiving Party customer billing records for AGN Customers in a manner reasonably requested by Receiving Party.

 
 Following the Anticipated Termination, the Providing Party shall provide to the
Receiving Party customer billing records for transferred accounts, pending disputes, credits, and invoices history to support open AR or outstanding balance value (Transition Services Agreement Schedule II, Schedules III V for details).

 

	Account Management	  	 (1)     Providing Party to provide to the Receiving Party customer
account management reports, to the extent the Providing Party possesses such reports for any AGN Customers
  

(2)     At Receiving Party’s request, the Providing Party shall provide the
Receiving Party all relevant information from the Providing Party’s systems that may continue to report relevant information relating to AGN Customers
  

(3)     The Providing Party shall assist the Receiving Party with billing inquiries from
AGN Customers up to six (6) months after the Anticipated Termination. (See Schedule II Appendix A for specifics and Schedule III).

		
	 Questions Resolution and

Assistance
	  	The Providing Party shall make its personnel reasonably available to the Receiving Party to assist in answering any relevant questions or resolving any issues with respect to
transfer of customer billing, account information and financial credits post Anticipated Termination related to invoices prior to the Anticipated Termination Date. Both parties will agree upon reasonable SLA for response between Providing and
Receiving party. This support may continue for up to six (6) months.
		
	Operational Support & Administrative Activities	  	To the extent requested at or about the Anticipated Termination the Providing Party shall make its personnel reasonably available to the Receiving Party to assist in general
operational support relevant to issues with respect to AGN Customer billing inventory, account profile data, transaction & collection history, open disputes, invoice images/ reprints related to Alestra-owned invoices issued prior to the
Anticipated Termination Date.

  
 Ex. C-14

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
  

	4.	Required performance parameters/Service level: The Providing Party shall provide billing data to the Receiving Party in the manner reasonably requested by the
Receiving Party for purposes of migrating the billing data to the Receiving Party’s own billing systems. 

Note: Documentation and billing data will be in Spanish or in English if available. 

 

	5.	Method of calculating fees: No fees during the six (6) months period, except with respect to the item captioned “Alternative Billing Services”
above to the extent utilized by Purchaser. 

  

	6.	See Appendix A for Customer Billing Data (during initial, validation, final and true phases), as well as customer transaction, collection history, and dispute
management data: 

 (It is agreed that references in Appendix A to Closing or “close” or similar
references shall be deemed to instead refer to the date of the Transition Services Agreement). 
 A. Data transfer format and
translation shall include account profile information, key site, bill element items, mapping table and other information used by the Providing Party to process the information, and necessary for the Receiving Party to convert the information so
received from the Providing Party to the Receiving Party’s format and run in its systems as has been implemented prior to the date of execution of this Agreement (as more fully described in Appendix A to this Schedule). 

B. In the event the Providing Party is required to implement any subsequent material modifications to its systems as a direct consequence
of a modification to the Receiving Party’s processes or systems, the parties shall mutually agree on the corresponding implementation costs that should be borne by Receiving Party, provided, however, that the Providing Party shall promptly take
all reasonable actions to implement such material modifications in a timely manner in order no to affect the Receiving Party’s processes as scheduled. 
  

	7.	Contact Person for Receiving Party: 

 Name: [***] 
 Address: 3033 CHAIN BRIDGE RD , POD C, 2ND FLR - CB12.213 , OAKTON ,
VA 22185 USA 
 Telephone No. + [***] 
 Fax No.: + [***] 
 Email address: [***] 

 

	8.	Contact Person for Providing Party: 

 Name: Julio Peraza 
 Telephone No.: + 52 81 1555 2481 

Email address: jperaza@alestra.com.mx 

  
 Ex. C-15

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE III 

CASH-IN INFORMATION: RECEIVABLES 
  

	1.	Start/End Date. The Providing Party shall provide to the Receiving Party Accounts Receivable and cash receipts information for such pre-Anticipated Termination
periods as the Receiving Party may reasonably request and for a period of twelve (12) months after the Anticipated Termination Date, or for such shorter or longer period as the parties may agree. 

 

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	Accounts Receivable Information	  	The Providing Party shall provide to the Receiving Party detailed receivable and cash received information related to AGN Customers. The Receiving Party shall assume collection
responsibility for the receivables balances related to AGN Customers from the Providing Party as of the Anticipated Termination Date.

  

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Provision of information	  	 The Providing Party will provide to the Receiving Party, on a monthly basis, a detailed reconciliation of all invoices and credits
issued and cash received, refunds issued, or any other adjustments made to accounts receivables related to AGN Customers.
  
 Upon the Anticipated Termination, the Providing Party will provide to the Receiving Party a breakdown of accounts receivable related to AGN Customers, to include a detailed listing of all outstanding
invoices by customer.
  
 Following the Anticipated Termination, the Providing
Party shall promptly provide to the Receiving Party notice of and information related to cash received by the Providing Party, related to receivables that properly belong to the Receiving Party.

		
	Transfer of funds	  	Providing and Receiving Party’s will promptly remit any funds received in respect to the other Party’s receivables.

 

	4.	Required performance parameters/Service level: Providing Party will provide the Receiving Party relevant information of accounts receivable, including cash
receipts in relation to the Nodes and AGN Customers in a timely manner. The notice should include payer’s name, received amount, received date, billing number and scheduled transfer date, and the Providing Party shall transfer funds from such
receivable payment to Receiving Party within forty-five (45) days. 

  

	5.	Method of calculating fees: No fees. 

  

	6.	Contact Person for Receiving Party: 

  
 Ex. C-16

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 Name: [***] 

Address: 1010 N SAINT MARYS ST , 10C , SAN ANTONIO , TX 78215 USA 
 Telephone No. + [***] 
 Fax No.: + [***] 

Email address: [***] 
  

	7.	Contact Person for Providing Party: 

 Name: Sergio Bravo 
 Telephone No.: + 52 81 8625 2201 

Email address: sbravo@alestra.com-mx 

  
 Ex. C-17

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE IV 

REIMBURSEMENT OF PAYABLES 
  

	1.	Start/End Date. Providing Party will provide to Receiving Party the following services beginning at Anticipated Termination and continuing for a period of twelve
(12) months thereafter, or for such shorter or longer period as the parties may agree: 

  

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	Accounts Payable	  	Providing Party shall provide Receiving Party with information on outstanding payables related to AGN Customers and for any payments properly made on a payable that Providing Party
believes to be the responsibility of Receiving Party.

  

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Provision of information	  	 On the Anticipated Termination Date, Providing Party shall provide a detailed summary and copies of all unpaid invoices that are the
responsibility of Receiving Party, if any.
  
 Following the Anticipated
Termination, Providing Party will notify Receiving Party and provide all payables invoices presented to Providing Party that are the responsibility of Receiving Party.
  

Providing Party and Receiving Party shall present detailed information and invoice copies for any payments made by one party that are the responsibility
of the other party.

		
	Reimbursement	  	Any payment is remitted by Receiving Party or Providing Party for payables that are the responsibility of the other shall be promptly reimbursed after receiving reasonable
verification of such payment.

  

	4.	Required performance parameters/Service level: Providing Party and Receiving Party shall make any required reimbursements within forty-five (45) days after
the day of invoice receipt. 

  

	5.	Method of calculating fees: No fees. 

  

	6.	Contact Person for Receiving Party: 

 Name: [***] 
 Address: 1010 N SAINT MARYS ST , 10C , SAN ANTONIO , TX 78215 USA

 Telephone No. +[***] 
 Fax No.: +1 [***] 
 Email address: [***] 

 

	7.	Contact Person for Providing Party: 

 Name: Sergio Bravo 

  
 Ex. C-18

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 Telephone No.: + 52 81 8625 2201 

Email address: sbravo@alestra.com.mx 

  
 Ex. C-19

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE V 

DATA SEPARATION AND TRANSFER 
  

	1.	Start/End Date. The Providing Party will begin providing to the Receiving Party the following services at the Anticipated Termination and continue for a period
of nine (9) months thereafter, or for such shorter or longer period as the parties may agree: 

  

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	Separation of Data	  	The Providing Party will separate its data into data pertaining to its retained business and data pertaining to the AGN Customers and Nodes.

 

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Separation of Data	  	The Providing Party shall work with the Receiving Party to separate the data used by the Providing Party’s systems so that the Receiving Party will have access to the data
related to the AGN Customers and Nodes.
		
	 Transfer of Transferred

Customer Data
	  	Providing Party will provide Receiving Party with account data including contract information and billing data for AGN Customers.
		
	Transfer of Financial Data	  	Providing Party will provide to Receiving Party financial data, including asset data and procurement data, for the Nodes and AGN Customers.
		
	Transfer of Network Data	  	Providing Party will provide Receiving Party relevant network data relating to circuits, nodes, and CPE.
		
	Transfer of Service Information	  	Prior to the Anticipated Termination, Providing Party will provide to Receiving Party additional general information, to the extent readily available, relating to services provided
to AGN Customers and a final file after Anticipated Termination.

  

	4.	Required performance parameters/Service level: The Providing Party shall ensure that the data described in the above list of transition services is transferred
to the Receiving Party in a timely manner. 

  

	5.	Method of calculating fees: No fees. 

  

	6.	Required performance parameters/Service level: Financial data or information will be provided in a form that is reasonably complete in a timely manner.

  

	7.	Intentionally deleted. Does not apply 

  

	8.	Contact Person for Receiving Party: 

 Name: [***] 
 Address: 1 AT&T WAY , 4D155 , BEDMINSTER , NJ 07921 USA

 Telephone No. + [***] 

  
 Ex. C-20

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 Email address: [***] 

 

	9.	Contact Person for Providing Party: 

 Name: Gabriel Muñoz 
 Telephone No.: + 52 81 8748 6165 

Email address: gmunoz@alestra.com.mx 

  
 Ex. C-21

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE VI 

FINANCIAL INFORMATION 
  

	1.	Start/End Date. The Providing Party shall provide requested financial data with respect to the AGN Customers and Nodes at Anticipated Termination (or as soon as
practicable thereafter), and promptly provide any other applicable financial information required during the transition period. The Providing Party will respond to Receiving Party’s inquiries regarding such financial data in a timely manner.

  

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	Financial Data	  	Providing Party to provide Receiving Party with financial records or information associated with the AGN Customers and Nodes, or any other applicable financial information required
during the transition period; as reasonably requested by Receiving Party.

  

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Provision of Financial Data	  	Providing Party to provide Receiving Party financial records or information associated with the AGN Customers and Nodes, or any other applicable financial information required
during the transition period; as reasonably requested by Receiving Party.
		
	 Provision of Financial

Information by Request
	  	Upon Receiving Party’s inquiry regarding the financial data described above, Providing Party shall reasonably respond to such inquiries regarding such financial
data.

  

	4.	Required performance parameters/Service level: Financial data or information will be provided in a complete and legible format in a timely manner.

  

	5.	Contact Person for Receiving Party: 

 Name: [***] 
 Address: 340 MT KEMBLE AVE , N313B , MORRISTOWN , NJ 07960 USA

 Telephone No. [***] 
 Email address: [***] 
  

	6.	Contact Person for Providing Party: 

 Name: Sergio Bravo 
 Telephone No.: + 52 81 8625 2201 

Email address: sbravo@alestra.com.mx 

  
 Ex. C-22

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE VII 

CPE SUPPORT 
  

	1.	Start/End Date. The Providing Party will begin providing to the Receiving Party the following services at Anticipated Termination and continue for a period of
six (6) months thereafter, or for such shorter or longer period as the parties may agree: 

  

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	 CPE procurement, installation,

maintenance and billing
	  	 •       Providing Party will provide to Receiving
Party, upon Receiving Party’s request, ongoing CPE support related to AT&T AGN branded services, including but not limited to GMIS, EVPN, AVPN, ATS and IPTEL.
  

•       Applies to existing base of CPE inventory as well as potential
MACD and/or New Orders as needed.
  

•       To the extent requested by Receiving Party, these services
include any and all of the following service delivery or service assurance components:
  

1.      Procurement

 

2.      Staging

 

3.      Installation

 
 4.      Test
and Turn-Up
  

5.      Maintenance

 

6.      MACDs

 

7.      Billing (See Schedule II)

 

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Additional CPE Requirements	  	 •       At Anticipated Termination, Providing Party shall provide to Receiving Party a
detailed inventory of existing CPE in use to support all existing AGN services customers. Attached spreadsheet contains the necessary fields of information; format to be agreed upon.

		
	CPE Data Collection	  	  

 

	4.	Contact Person for Receiving Party: 

 Name: [***] 
 Address: One AT&T Way, Bedminster, NJ. 07921 

Telephone No. + [***] 
 Fax No.: + [***] 
 Email address: [***] 

  
 Ex. C-23

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
  

	5.	Contact Person for Providing Party: 

 Name: Amet Novillo 
 Address: Av. Eugenio Clariond 175 Col. Cuauhtemoc, 66450 San
Nicolas de los Garza, N.L. 
 Telephone No.: +(81) 8748 6283 

Fax No.: +(81) 8748 6218 
 Email address: anovillo@alestra.com.mx 

  
 Ex. C-24

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 SCHEDULE VIII 

TREATMENT of 3rd PARTY ACCESS CONTRACTS 
  

	1.	Start/End Date. The Providing Party will begin providing to the Receiving Party the following services at Anticipated Termination and continuing for a period of
twelve (12) months thereafter, or for such shorter or longer period as the parties may agree: 

  

	2.	Summary of Services 

  

			
	 Service Name
	  	 Service Description

	Third Party Access	  	 •     If requested by Receiving Party, Providing Party will
continue to provide Receiving Party the long haul services for all third party last mile access connections that are transferred to or otherwise contracted directly by Receiving Party that require such type of connectivity. “Long haul
services” refer to the connection between the Providing Party’s closest POP and the AGN facilities in Monterrey, Guadalajara, Tijuana and Mexico City. Prices for long haul services shall as set forth in Schedule
“Y”.
  

•     Notwithstanding anything herein to the contrary, Receiving Party shall have
no obligation to use the Providing Party’s long haul facilities, or, if such facilities are contracted, shall have the right to migrate the long haul services from Providing Party to another service supplier, provided, however, that such
migration shall meet any contracted minimum term commitments agreed between Providing Party and Receiving Party.
  

•     In the event that Receiving Party is not successful in becoming Customer of
Record of such last mile third party circuits by the Anticipated Termination for existing AGN services, Providing Party agrees to permit Receiving Party to commercialize such third party access as part of AGN services for Receiving Party’s
customers in accordance with the commercial agreements reached by the parties and reflected in the Wholesale Agreement.

  

	3.	List of Transition Services to be provided: 

  

			
	 Service Name
	  	 Services

	Additional treatment of customer	  	 •     To the extent requested by Receiving Party, the
Providing

  
 Ex. C-25

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

			
	equipment and PSTN and ISDN circuits	  	 Party will cooperate to establish a commercially reasonable agreement with respect to having the Providing Party
provide servicing (maintenance, configuration, repair) of CSU/DSU or other ancillary customer premise equipment associated with the access services;
  

•   Providing Party shall cooperate with Receiving Party with respect to allowing Receiving
Party to establish with third party providers arrangements

		
	Additional scenarios	  	 •   All additional scenarios would be revised and negotiated under a case by case basis under reasonable
commercial agreements or during the preparation stage.

  

	4.	Contact Person for Receiving Party: 

 Name: [***] 
 Address: CH100 W. Cyprus Creek Road, East End, Fort Lauderdale, FL.
33309 
 Telephone: [***] 
 Fax No.: 
 Email address: [***] 

 

	5.	Contact Person for Providing Party: 

 Name: Eduardo Santin 
 Telephone No.: + 52 81 8625 2285 

Email address: esantin@alestra.com.mx 

  
 Ex. C-26

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 
 Exhibit D 

WHOLESALE AGREEMENT 

[***] 

  
 Ex. D-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 Exhibit E 

AGN COOPERATION TERMINATION AGREEMENT 
 TERMINATION AGREEMENT, dated as of [                    ], 20[    ]
(this “Agreement”) , by and between AT&T Corp., a company incorporated under the laws of the state of New York (“AT&T” ), and Alestra, S. de R. L. de C.V., a company incorporated under the laws
of Mexico ( “Alestra”). Capitalized terms used and not otherwise defined herein shall have the meaning set forth in that certain Nodes Purchase Agreement, dated as of April 14, 2011 (the “Nodes Purchase
Agreement”), by and among the Alfa, S.A.B. de C.V., the AT&T Parties and Alestra. 
 W I T N E S S E T H:

 WHEREAS, AT&T has deployed infrastructure to extend the AT&T Global Network (“AGN”) in
countries around the world to enable AT&T, directly or indirectly through its Affiliates, resellers and local service providers, to provide AT&T Global Network Services to business customers in a seamless, consistent, stable and ubiquitous
manner; 
 WHEREAS, on February 13, 2003, AT&T and the Onexa Parties executed the AGN Principles Agreement in
which the parties agreed to analyze the feasibility of a specific proposal to deploy the AGN, to deliver AT&T Global Services to customers in Mexico through Alestra, a joint venture owned by AT&T and the Onexa Parties, and to authorize
Alestra to market, sell and provision AT&T Global Network Services in Mexico as a controlled affiliate of AT&T; 

WHEREAS, following such analysis in August of 2004, AT&T, and Alestra executed the AT&T Global Network Cooperation
Agreement by and between AT&T and Alestra, with a scheduled termination date of June 30, 2010 (hereinafter the “Original AGN Agreement”); and 
 WHEREAS, on July 1, 2010, AT&T and Alestra amended the Original AGN Agreement through the adoption of the AT&T Global Network Cooperation Agreement (“AGN Cooperation
Agreement”); and 
 WHEREAS, the parties hereto desire to terminate the Agreement pursuant to the terms and
conditions provided herein. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements
hereinafter contained, the parties hereby agree as follows: 
 1.1 Termination of AGN Cooperation Agreement. In
consideration of the agreements of the parties hereto contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the AGN Cooperation Agreement is hereby terminated; provided
“...provided that the respective obligations of the Parties set forth in Articles 1, 8 (with respect to fees accrued but unpaid, in each case, on or prior to the date hereof), 12, 14, 15, 16, 18, 20.8,
20.9, 20.10, 20.11, 22 and 24 of the AGN Cooperation Agreement shall survive the termination; and, for the avoidance of doubt, the Parties agree that there shall be no the wind down as contemplated by Article 21
therein. 

  
 Ex. E-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 1.2 Consent to Service of Process; Waiver of Jury Trial. 

(a) Each of the parties hereto hereby consents to process being served by any party to this Agreement in any suit, action or proceeding
by delivery of a copy thereof in accordance with the provisions of Section 1.5. 
 (b) THE PARTIES TO THIS AGREEMENT
EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (i) ARISING UNDER THIS AGREEMENT OR (ii) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR OTHERWISE. 

1.3 Entire Agreement; Amendments and Waivers. This Agreement represents the entire understanding and agreement between the parties
hereto with respect to the subject matter hereof and can be amended, supplemented or changed, and any provision hereof can be waived, only by written instrument making specific reference to this Agreement signed by the party against whom enforcement
of any such amendment, supplement, modification or waiver is sought. No action taken pursuant to this Agreement, including any investigation by or on behalf of any party, shall be deemed to constitute a waiver by the party taking such action of
compliance with any representation, warranty, covenant or agreement contained herein. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or
as a waiver of any other or subsequent breach. No failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of such
right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law. 

1.4 Governing Law. This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise
out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement), shall be governed by the internal laws of the State of New York. 

1.5 Notices. All notices and other communications under this Agreement shall be in writing and shall be deemed given (i) when
delivered personally by hand (with written confirmation of receipt), (ii) when sent by facsimile (with written confirmation of transmission) or (iii) one Business Day following the day sent by overnight courier (with written confirmation
of receipt), in each case at the following addresses and facsimile numbers (or to such other address or facsimile number as a party may have specified by notice given to the other party pursuant to this provision): 

If to AT&T, to: 

  
 Ex. E-2

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 AT&T Corp. 
 One AT&T Plaza 
 208 S. Akard; Room – 32nd Floor 

Dallas, TX 75202 

Facsimile: +1 [***] 
 Attention: [***] 
 With a copy to: 

AT&T Corp. 

One AT&T Plaza 
 208 S. Akard; Room 3214 
 Dallas, TX 75202 

Facsimile: +1 [***] 
 Attention: [***] 
 and 

Thompson & Knight Abogados, S.C. 
 Paseo de las Palmas 405 – 1901 
 Lomas de Chapultepec 

11000, México D.F., México 
 Facsimile: +[***] 
 Attention: [***] 

If to the Alestra, to: 
 Alestra, S. de R.L. de C.V. 
 Ave. Lázaro Cárdenas 2321 

Col. Residencial San Agustín 
 San Pedro Garza García, N.L. 
 66269 Mexico 

Facsimile: +52-81-8625-2303 
 Attention: Rolando Zubiran 
 With a copy to: 

Weil, Gotshal & Manges LLP 
 767 Fifth Avenue 
 New York, NY 10153 

Facsimile: +1 (212) 310-8007 
 Attention: Frederick S. Green 
 1.6 Severability. If any term or other
provision of this Agreement is invalid, illegal, or incapable of being enforced by any law or public policy, all other terms or provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, 

  
 Ex. E-3

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 
illegal, or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an
acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 
 1.7 Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. Nothing in this Agreement shall
create or be deemed to create any third party beneficiary rights in any person or entity not a party to this Agreement. No assignment of this Agreement or of any rights or obligations hereunder may be made by either AT&T or the Alestra (by
operation of law or otherwise) without the prior written consent of the other parties hereto and any attempted assignment without the required consents shall be void. 
 1.8 Language. English shall be the official language in respect to all matters in connection with this Agreement, unless otherwise agreed in writing by the Parties. In the event that this Agreement
shall be translated into any other language, the English version shall be controlling as among the parties. 
 1.9
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

 [remainder of page intentionally left blank; signature page follows] 

  
 Ex. E-4

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

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

			
	AT&T CORP.
		
	By:	 	  

		 	Name:
		 	Capacity:
	
	ALESTRA, S. de R.L. de C.V.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Ex. E-5

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 Exhibit F 

KEY POST-SIGNING ACTIVITIES 
  

	1.	This Exhibit sets forth certain key post-signing activities of Seller and Purchaser under the Agreement to help facilitate an orderly transition. Unless
otherwise indicated, each such activity shall commence as promptly as practicable after the date of the Agreement. Capitalized terms used and not defined in this Exhibit shall have the meanings ascribed to such terms in the Agreement. No charges
shall be made from Seller to Purchaser with respect to the activities set forth herein. 

  

	2.	Summary of Activities 

  

			
	 Service Name
	  	 Service Description

	Data collecting, sharing and transfer	  	 Seller and Purchaser agree to begin the collection and sharing of data to ensure a seamless transition to customers.

 
 Seller will provide initial view of data as reasonably possible after the date of the
Agreement (unless otherwise noted) with a Final view after the date of the Transition Services Agreement and described in Transition Services Agreement.
  

Note:    Documentation and data will be in Spanish or in English if
available.

		
	Team Calls/Meetings	  	Teams agree to hold calls as necessary to review status of project timelines and deliverables to achieve due dates.

 

	3.	Description of Activities 

  

			
	 Service Name
	  	 Service Description

	Customer Account Management	  	 Upon request from the Purchaser, the Seller shall provide the Purchaser with relevant information from the Seller’s systems
relating to the customers receiving AGN Services utilizing one or more of the Nodes (“AGN Customers”) or the Nodes or otherwise useful for Purchaser to continue provision services utilizing the Nodes that may continue to report relevant
information relating to AGN Customers. See Schedule II Appendix A.
  
 Seller
will provide Purchaser, dispute information no more than 60 days after the date of the Agreement to ensure Purchaser is able to provide same level of support for the dispute resolution and collections efforts as outlined in Appendix
A.

		
	Customer Billing	  	Seller shall provide the Purchaser with customer billing data relating to Transferred Customers. See Appendix A for specific
details.

  
 Ex. F-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

			
		  	 Seller will provide an updated customer billing data file to Purchaser upon request. Seller and Purchaser shall complete four refreshes
of the customer data (billing, circuits, network and equipment) to Purchaser, at regular intervals, with the initial set of information (previously furnished by Purchaser) to be provided by Seller to Purchaser within 5 to 10 business days following
the date of execution of the Agreement and the final certified set of data be provided 30 calendar days prior to the estimated date of execution of the Transaction Services Agreement (with Purchaser to make such estimation), and intermediate
refreshes as reasonably requested by Purchaser.
  
 Seller shall transfer to
the Purchaser the Seller’s customer billing records for AGN Customers in a manner reasonably requested by Purchaser. The AGN Customer billing records shall include those billing fields currently employed by the Seller, including (as may be
readily obtainable), bill-to contact, address, and related contract terms and billing cycles. See Appendix A for specific details as well as the following sections in this document: Cash Information: Receivables and CPE Data.

		
	Provision of Customer Billing Data/Information	  	The Seller will provide to the Purchaser, detailed customer billing records to correspond to all invoices issued during the month. See Appendix A for specific details & section
in this document: CPE Data.
		
	Account Management	  	 (4)    Seller to provide to the Purchaser customer account management
reports, to the extent the Seller possesses such reports for any AGN Customers
  
 (5)    At Purchaser’s request, the Seller shall provide the Purchaser all relevant information from the Seller’s systems that may continue to report relevant information
relating to AGN Customers

		
	 Questions Resolution and

Assistance
	  	The Seller shall make its personnel reasonably available to the Purchaser to assist in answering any relevant questions or resolving any issues with respect to transfer of customer
billing, account information and financial credits post the date of the Transition Services Agreement related to invoices prior to the date of the Transition Services Agreement. Seller shall promptly respond to such questions (and in any event in no
less than 3 business days). This support may continue for up to six (6) months after the date of the Transition Services Agreement.
		
	Operational Support & Administrative Activities	  	The Seller shall make its personnel reasonably available to the Purchaser to assist in general operational support relevant to issues with respect to AGN Customer billing inventory,
account profile data, transaction & collection history, open disputes, invoice images/ reprints related to Seller-owned invoices issued prior to the date of the Transition Services Agreement.
		
	Cash Information: Receivables	  	Seller will provide to the Purchaser, on a monthly basis, a detailed reconciliation of all invoices and credits issued and cash received, refunds issued, or any other adjustments
made to accounts receivables related to AGN Customers up to six (6) months after

  
 Ex. F-2

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

			
		  	the date of the Transition Services Agreement.
		
	 Transferred
 Customer
Data
	  	Seller will provide Purchaser with account data including contract information (where available) and billing data for AGN Customers and a final file after the date of the Transition
Services Agreement.
		
	Financial Data	  	Seller will provide to Purchaser financial data, including asset data and procurement data, with respect to the Nodes and AGN Customers and a final file after the the date of the
Transition Services Agreement.
		
	Transfer of Network Data	  	Seller will provide Purchaser relevant network data relating to circuits, nodes, and CPE and a final file after the Closing and/or the date of the Transition Services Agreement, as
applicable.
		
	Transfer of Service Information	  	Seller will provide to Purchaser additional general information, to the extent readily available, relating to services provided to AGN Customers and a final file after the the date
of the Transition Services Agreement.
		
	AGN CPE Inventory	  	Seller shall provide to Purchaser no later than May 4, 2011 a detailed inventory of existing CPE in use to support all existing AGN Customers and provide a final list at Closing and
at the date of the Transition Services Agreement. Attached spreadsheet contains the necessary fields of information; format to be agreed upon.
		
	AGN Node Equipment	  	Seller shall provide to Purchaser a detailed inventory of existing AGN node equipment for all (4) four node sites and warehouse no later than (5) days prior to Close. Attached
spreadsheet contains Seller’s preliminary view as of February 4, 2011 and provide a final list at the date of the Transition Services Agreement.
		
	AGN Circuit Inventory	  	Seller shall provide to Purchaser a detailed inventory of existing AGN circuits for all AGN services (GMIS, EVPN, AVPN, IPS, ATS) no later than (5) days prior to Close and provide a
final list at the date of the Transition Services Agreement. Attached spreadsheets contain a) Seller’s preliminary view as of November 2010 and b) Purchaser’s spreadsheet with required fields of information to be
validated.
		
	3rd Party Access	  	[***]

  

	4.	Required performance parameters/Service level: The Seller shall provide data to the Purchaser in the manner reasonably requested by the Purchaser for purposes of
seamless transition to AGN Customers. 

  

	5.	See Appendix A for Customer Billing Data (during initial, validation, final and true phases), as well as customer transaction, collection history, and dispute
management data: 

  
 Ex. F-3

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 (It is agreed that references in Appendix A to Closing or “close” or similar
references shall be deemed to instead refer to the date of the Transition Services Agreement). 
  

	6.	Contact Person for Purchaser (Transition Support): 

 Name: [***] 
 Address: 1 AT&T WAY , 5C222B , BEDMINSTER , NJ 07921 USA

 Telephone No.: + [***] 
 Email address: [***] 
  

	7.	Contact Person for Seller: 

Name: Ignacio Guzman 
 Telephone No.: + 52 81 8625 2121 
 Email address iguzman@alestra.com.mx 

  
 Ex. F-4

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 Schedule 2.1 

Nodes 
 This Schedule
sets forth inventory of assets to be conveyed to Purchaser under this Agreement. The term “Nodes” shall include the following telecommunications nodes and the customer premises equipment owned by Seller as of December 31, 2010
relating to AGN services provided in Mexico located at Seller’s facilities in Mexico City, Guadalajara, Tijuana and Monterrey, with such removals as may occur in the ordinary course of business. For clarification purpose, any additions,
attachments, alterations or improvements thereon after December 31, 2010 are considered as the Reimbursable CAPEX referred in Section 6.4. 
 A) TELECOMUNICATIONS NODES 
 NODE (SWITCH) GUADALAJARA 

 

			
	Units	  	Equipment
	[***]	  	[***]

 NODE (SWITCH) MONTERREY 

 

			
	Units	  	Equipment
	[***]	  	[***]

 NODE (SWITCH) CD. DE MEXICO 

 

			
	Units	  	Equipment
	[***]	  	[***]

 NODE (SWITCH) TIJUANA 

 

			
	Units	  	Equipment
	[***]	  	[***]

 WAREHOUSE 

[***] 
 B) CUSTOMER PREMISE EQUIPMENT (CPE)

  

			
	Units	  	Equipment
	[***]	  	

 It is presumed that all of the above mentioned AGN CPE chassis include all the necessary cards to provide the feature
functionality necessary to support the customers’ services. This includes memory cards, power cards, cables and other related equipment necessary for it to function fully. 

  
 Sch. 2.1-1

 PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION
(“SEC”), CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SEC. THIS INFORMATION HAS BEEN DENOTED BY ASTERISKS [***]. 

 

 Schedule 2.2 

Purchase Price Allocation 
  

					
	(In US Dollars)	  			
		
	 Guadalajara
	  	$	[***]	  
	 Monterrey
	  	 	[***]	  
	 Mexico City
	  	 	[***]	  
	 Tijuana
	  	 	[***]	  
	 Warehouse (AGN inventory)
	  	 	[***]	  
		  	 	 	 
	 Total Node Assets
	  	$	[***]	  
		
	 Customer Premise Equipment
	  	$	[***]	  
		  	 	 	 
		
	 Total
	  	$	[***]	  

  
 Sch. 2.2-1Form of Indenture

 Exhibit 4.3 

 
  
 CYPRESS SHARPRIDGE INVESTMENTS, INC. 
 TO 

                      
                  , 
 Trustee

  
  

Indenture 
 (For
[Subordinated]* Debt Securities) 
 Dated as of
                    , 20     
  

 
  

	*	Bracketed language will be inserted in the Indenture under which subordinated Debt Securities will be issued. 

 TABLE OF CONTENTS† 

 

					
	 	  	 Page

		
	 RECITAL OF THE COMPANY
	  	1
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	1
	 Section 1.01.
	    	 Definitions.
	  	1
	 Section 1.02.
	    	 Compliance Certificates and Opinions.
	  	8
	 Section 1.03.
	    	 Form of Documents Delivered to Trustee.
	  	9
	 Section 1.04.
	    	 Acts of Holders.
	  	10
	 Section 1.05.
	    	 Notices, Etc. to Trustee and Company.
	  	11
	 Section 1.06.
	    	 Notice to Holders of Debt Securities; Waiver.
	  	12
	 Section 1.07.
	    	 Conflict with Trust Indenture Act.
	  	12
	 Section 1.08.
	    	 Effect of Headings and Table of Contents.
	  	13
	 Section 1.09.
	    	 Successors and Assigns.
	  	13
	 Section 1.10.
	    	 Separability Clause.
	  	13
	 Section 1.11.
	    	 Benefits of Indenture.
	  	13
	 Section 1.12.
	    	 Governing Law.
	  	13
	 Section 1.13.
	    	 Legal Holidays.
	  	13
	 ARTICLE II DEBT SECURITY FORMS
	  	14
	 Section 2.01.
	    	 Forms Generally.
	  	14
	 Section 2.02.
	    	 Form of Trustee’s Certificate of Authentication.
	  	14
	 Section 2.03.
	    	 Debt Securities Issuable in the Form of a Global Security.
	  	14
	 ARTICLE III THE DEBT SECURITIES
	  	17
	 Section 3.01.
	    	 Amount Unlimited; Issuable in Series.
	  	17
	 Section 3.02.
	    	 Denominations.
	  	20
	 Section 3.03.
	    	 Execution, Authentication, Delivery and Dating.
	  	21
	 Section 3.04.
	    	 Temporary Debt Securities.
	  	23
	 Section 3.05.
	    	 Registration, Registration of Transfer and Exchange.
	  	24
	 Section 3.06.
	    	 Mutilated, Destroyed, Lost and Stolen Debt Securities.
	  	25
	 Section 3.07.
	    	 Payment of Interest and Additional Interest; Interest Rights Preserved.
	  	26
	 Section 3.08.
	    	 Persons Deemed Owners.
	  	27
	 Section 3.09.
	    	 Cancellation by Debt Security Registrar.
	  	27
	 Section 3.10.
	    	 Computation of Interest.
	  	28
	 Section 3.11.
	    	 Payment to be in Proper Currency.
	  	28
	 Section 3.12.
	    	 [Extension of Interest Payment]*.
	  	28
	 ARTICLE IV REDEMPTION OF DEBT SECURITIES
	  	28
	 Section 4.01.
	    	 Applicability of Article.
	  	28
	 Section 4.02.
	    	 Election to Redeem; Notice to Trustee.
	  	29
	 Section 4.03.
	    	 Selection of Debt Securities to be Redeemed.
	  	29
	 Section 4.04.
	    	 Notice of Redemption.
	  	30
	 Section 4.05.
	    	 Debt Securities Payable on Redemption Date.
	  	31
	 Section 4.06.
	    	 Debt Securities Redeemed in Part.
	  	31
	 ARTICLE V SINKING FUNDS
	  	32
	 Section 5.01.
	    	 Applicability of Article.
	  	32

  

	†	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

	*	Bracketed language will be inserted in the Indenture under which subordinated Debt Securities will be issued. 

  
 i 

					
	 Section 5.02.
	    	 Satisfaction of Sinking Fund Payments with Debt Securities.
	  	32
	 Section 5.03.
	    	 Redemption of Debt Securities for Sinking Fund.
	  	32
	 ARTICLE VI COVENANTS
	  	33
	 Section 6.01.
	    	 Payment of Principal, Premium and Interest.
	  	33
	 Section 6.02.
	    	 Maintenance of Office or Agency.
	  	33
	 Section 6.03.
	    	 Money for Debt Securities Payments to be Held in Trust.
	  	34
	 Section 6.04.
	    	 Corporate Existence.
	  	35
	 Section 6.05.
	    	 Annual Officer’s Certificate as to Compliance.
	  	36
	 Section 6.06.
	    	 Waiver of Certain Covenants.
	  	36
	 ARTICLE VII SATISFACTION AND DISCHARGE
	  	36
	 Section 7.01.
	    	 Satisfaction and Discharge of Debt Securities.
	  	36
	 Section 7.02.
	    	 Satisfaction and Discharge of Indenture.
	  	39
	 Section 7.03.
	    	 Application of Trust Money.
	  	40
	 ARTICLE VIII EVENTS OF DEFAULT; REMEDIES
	  	40
	 Section 8.01.
	    	 Events of Default.
	  	40
	 Section 8.02.
	    	 Acceleration of Maturity; Rescission and Annulment.
	  	42
	 Section 8.03.
	    	 Collection of Indebtedness and Suits for Enforcement by Trustee.
	  	43
	 Section 8.04.
	    	 Trustee May File Proofs of Claim.
	  	44
	 Section 8.05.
	    	 Trustee May Enforce Claims Without Possession of Debt Securities.
	  	44
	 Section 8.06.
	    	 Application of Money Collected.
	  	44
	 Section 8.07.
	    	 Limitation on Suits.
	  	45
	 Section 8.08.
	    	 Unconditional Right of Holders to Receive Principal, Premium and Interest.
	  	46
	 Section 8.09.
	    	 Restoration of Rights and Remedies.
	  	46
	 Section 8.10.
	    	 Rights and Remedies Cumulative.
	  	46
	 Section 8.11.
	    	 Delay or Omission Not Waiver.
	  	46
	 Section 8.12.
	    	 Control by Holders of Debt Securities.
	  	46
	 Section 8.13.
	    	 Waiver of Past Defaults.
	  	47
	 Section 8.14.
	    	 Undertaking for Costs.
	  	47
	 Section 8.15.
	    	 Waiver of Stay or Extension Laws.
	  	48
	 ARTICLE IX THE TRUSTEE
	  	48
	 Section 9.01.
	    	 Certain Duties and Responsibilities.
	  	48
	 Section 9.02.
	    	 Notice of Defaults.
	  	49
	 Section 9.03.
	    	 Certain Rights of Trustee.
	  	50
	 Section 9.04.
	    	 Not Responsible for Recitals or Issuance of Debt Securities.
	  	51
	 Section 9.05.
	    	 May Hold Debt Securities.
	  	51
	 Section 9.06.
	    	 Money Held in Trust.
	  	51
	 Section 9.07.
	    	 Compensation and Reimbursement.
	  	51
	 Section 9.08.
	    	 Disqualification; Conflicting Interests.
	  	52
	 Section 9.09.
	    	 Corporate Trustee Required; Eligibility.
	  	53
	 Section 9.10.
	    	 Resignation and Removal; Appointment of Successor.
	  	53
	 Section 9.11.
	    	 Acceptance of Appointment by Successor.
	  	55
	 Section 9.12.
	    	 Merger, Conversion, Consolidation or Succession to Business.
	  	56
	 Section 9.13.
	    	 Preferential Collection of Claims Against Company.
	  	56

  

	†	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

	*	Bracketed language will be inserted in the Indenture under which subordinated Debt Securities will be issued. 

  
 ii 

					
	 Section 9.14.
	    	 Co-Trustees and Separate Trustees.
	  	57
	 Section 9.15.
	    	 Appointment of Authenticating Agent.
	  	58
	 ARTICLE X HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	60
	 Section 10.01.
	    	 Lists of Holders.
	  	60
	 Section 10.02.
	    	 Reports by Trustee and Company.
	  	60
	 ARTICLE XI CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER
	  	61
	 Section 11.01.
	    	 Company May Consolidate, Etc., Only on Certain Terms.
	  	61
	 Section 11.02.
	    	 Successor Corporation Substituted.
	  	61
	 ARTICLE XII SUPPLEMENTAL INDENTURES
	  	62
	 Section 12.01.
	    	 Supplemental Indentures Without Consent of Holders.
	  	62
	 Section 12.02.
	    	 Supplemental Indentures With Consent of Holders.
	  	63
	 Section 12.03.
	    	 Execution of Supplemental Indentures.
	  	65
	 Section 12.04.
	    	 Effect of Supplemental Indentures.
	  	65
	 Section 12.05.
	    	 Conformity With Trust Indenture Act.
	  	65
	 Section 12.06.
	    	 Reference in Debt Securities to Supplemental Indentures.
	  	65
	 Section 12.07.
	    	 Modification without Supplemental Indenture.
	  	66
	 ARTICLE XIII MEETINGS OF HOLDERS; ACTION WITHOUT MEETING
	  	66
	 Section 13.01.
	    	 Purposes for which Meetings may be Called.
	  	66
	 Section 13.02.
	    	 Call, Notice and Place of Meetings.
	  	66
	 Section 13.03.
	    	 Persons Entitled to Vote at Meetings.
	  	67
	 Section 13.04.
	    	 Quorum; Action.
	  	67
	 Section 13.05.
	    	 Attendance at Meetings; Determination of Voting Rights; Conduct and Adjournment of Meetings.
	  	68
	 Section 13.06.
	    	 Counting Votes and Recording Action of Meetings.
	  	69
	 Section 13.07.
	    	 Action Without Meeting.
	  	69
	 ARTICLE XIV IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	70
	 Section 14.01.
	    	 Liability Solely Corporate.
	  	70
	 ARTICLE XV [SUBORDINATION OF SECURITIES]*
	  	70
	 Section 15.01.
	    	 Securities Subordinate to Senior Indebtedness.
	  	70
	 Section 15.02.
	    	 Payment Over of Proceeds of Securities.
	  	71
	 Section 15.03.
	    	 Disputes with Holders of Certain Senior Indebtedness.
	  	72
	 Section 15.04.
	    	 Subrogation.
	  	73
	 Section 15.05.
	    	 Unconditional Obligation of the Company.
	  	73
	 Section 15.06.
	    	 Priority of Senior Indebtedness Upon Maturity.
	  	74
	 Section 15.07.
	    	 Trustee as Holder of Senior Indebtedness.
	  	74
	 Section 15.08.
	    	 Notice to Trustee to Effectuate Subordination.
	  	74
	 Section 15.09.
	    	 Modification, Extension, Etc. of Senior Indebtedness.
	  	75
	 Section 15.10.
	    	 Trustee Has No Fiduciary Duty to Holders of Senior Indebtedness.
	  	75
	 Section 15.11.
	    	 Paying Agents other than the Trustee.
	  	75
	 Section 15.12.
	    	 Rights of Holders of Senior Indebtedness Not Impaired.
	  	75
	 Section 15.13.
	    	 This Article Not To Prevent Events of Default.
	  	75
	 Section 15.14.
	    	 Effect of Subordination Provisions; Termination.
	  	76

  

	†	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

	*	Bracketed language will be inserted in the Indenture under which subordinated Debt Securities will be issued. 

  
 iii

 CYPRESS SHARPRIDGE INVESTMENTS, INC. 

RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939 
 AND INDENTURE, DATED AS OF                     , 20    

  

					
	 Trust Indenture Act Section
	  	 Indenture Section

			
	§310	 	(a)(1)	  	9.09
		 	(a)(2)	  	9.09
		 	(a)(3)	  	9.14
		 	(a)(4)	  	Not Applicable
		 	(b)	  	9.08, 9.10
	§311	 	(a)	  	9.13
		 	(b)	  	9.13
		 	(c)	  	9.13
	§312	 	(a)	  	10.01
		 	(b)	  	10.01
		 	(c)	  	10.01
	§313	 	(a)	  	10.02
		 	(b)	  	10.02
		 	(c)	  	10.02
		 	(d)	  	10.02
	§314	 	(a)(4)	  	 6.06

		 	(b)	  	Not Applicable
		 	(c)(1)	  	1.02
		 	(c)(2)	  	1.02
		 	(c)(3)	  	Not Applicable
		 	(d)	  	Not Applicable
		 	(e)	  	1.02
	§315	 	(a)	  	9.01, 9.03
		 	(b)	  	9.02
		 	(c)	  	9.01
		 	(d)	  	9.01
		 	(e)	  	8.14
	§316	 	(a)	  	8.12, 8.13
		 	(a)(1)(A)	  	8.02, 8.12
		 	(a)(1)(B)	  	813
		 	(a)(2)	  	Not Applicable
		 	(b)	  	8.08
		 	(c)	  	1.04(g)
	§317	 	(a)(1)	  	8.03
		 	(a)(2)	  	8.04
		 	(b)	  	6.03
	§318	 	(a)	  	1.07

  
 iv 

 INDENTURE (FOR [SUBORDINATED]* DEBT SECURITIES), dated as
of                     , 20    , between CYPRESS SHARPRIDGE INVESTMENTS, INC, a Maryland corporation (herein called
the “Company”), having its principal office at 437 Madison Avenue, 33rd Floor, New York, New York 10022, and [TRUSTEE], a                     , having its principal
corporate trust office at
                                         
                   , as Trustee (herein called the “Trustee”). 

RECITAL OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of certain of its [subordinated]* debentures, notes or other evidences of
indebtedness (herein called the “Debt Securities”), in an unlimited aggregate principal amount, to be issued in one or more series as contemplated herein; and all acts necessary to make this Indenture a valid agreement of the
Company have been performed. 
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context
otherwise requires, capitalized terms used herein shall have the meanings assigned to them in Article I of this Indenture. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the
premises and the purchase of the Debt Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Debt Securities or of series thereof, as follows: 

ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.01. Definitions. 
 For all purposes of this Indenture,
except as otherwise expressly provided or unless the context otherwise requires: 
 (a) the terms defined in this
Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
 (b) all
terms used herein without definition that are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 
 (c) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles in the United States, and, except as otherwise herein
expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted in the United States at the date of
such computation or, at the election of the Company from time to time, at the date of the execution and delivery of this Indenture; provided, however, that in determining generally accepted accounting principles applicable to the
Company, the Company shall, to the extent required, conform to any order, rule or regulation of any administrative agency, regulatory authority or other governmental body having jurisdiction over the Company; and 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 1 

 (d) the words “herein,” “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 Certain terms, used principally in Article IX, are defined in that Article. 
 “Act” when used with respect to any Holder of a Debt Security, has the meaning specified in Section 1.04. 

“Additional Interest” means the interest, if any, that shall accrue on any interest on the Debt Securities of any
series, the payment of which has not been made on the applicable Interest Payment Date and which shall accrue at the rate per annum specified or determined as specified in such Debt Security. 

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

“Authenticating Agent” means any Person (other than the Company or an Affiliate of the Company) authorized by the
Trustee pursuant to Section 9.15 to act on behalf of the Trustee to authenticate one or more series of Debt Securities or Tranche thereof. 
 “Authorized Officer” means the the President and Chief Executive Officer, the Chief Operating Officer and Assistant Secretary, the Chief Financial Officer and Treasurer and Secretary.

 “Board of Directors” means either the board of directors of the Company or any committee thereof duly
authorized to act or any director or directors and/or officer or officers of the Company to whom that board or committee shall have duly delegated its authority in respect of matters relating to this Indenture. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to
have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day,” when used with respect to a Place of Payment or any other particular location specified in the Debt Securities or this Indenture, means any day, other than a Saturday or
Sunday, which is not a day on which banking institutions or trust companies in such Place of Payment or other location are generally authorized or required by law, regulation or executive order to remain closed, except as may be otherwise specified
as contemplated by Section 3.01. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 2 

 “Commission” means the Securities and Exchange Commission, as from time to
time constituted, created under the Exchange Act, or, if at any time after the date of execution and delivery of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the
body, if any, performing such duties at such time. 
 “Company” means the Person named as the
“Company” in the first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Company
by an Authorized Officer and delivered to the Trustee. 
 “Corporate Trust Office” means the office of the
Trustee at which at any particular time this Indenture shall be principally administered, which office at the date of execution and delivery of this Indenture is located at
                                         
                   . 

“Corporation” means a real estate investment trust, corporation, association, company, limited liability company, joint
stock company or business trust. 
 “Debt Securities” has the meaning stated in the first recital of this
Indenture and more particularly means any securities authenticated and delivered under this Indenture. 
 “Debt Security
Register” and “Debt Security Registrar” have the respective meanings specified in Section 3.05. 
 “Defaulted Interest” has the meaning specified in Section 3.07. 
 “Depositary” shall mean, with respect to Debt Securities of any series, for which the Company shall determine that such Debt Securities will be issued as a Global Security, The Depository
Trust Company, New York, New York, another clearing agency or any successor registered as a clearing agency under the Exchange Act or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to
Section 2.03(c). 
 “Discount Debt Security” means any Debt Security that provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 8.02. 
 “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall be legal tender for the payment of public and
private debts. 
 “Eligible Obligations” means: 

(a) with respect to Debt Securities denominated in Dollars, Government Obligations; or 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 3 

 (b) with respect to Debt Securities denominated in a currency other than Dollars or in a
composite currency, such other obligations or instruments as shall be specified with respect to such Debt Securities, as contemplated by Section 3.01. 
 “Event of Default” has the meaning specified in Section 8.01. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Global Security” means, with respect to the Debt Securities, a Debt Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction, all in accordance with this Indenture, which shall be registered in the name of the Depositary or its nominee. 

“Governmental Authority” means the government of the United States or of any state or territory thereof or of the
District of Columbia or of any county, municipality or other political subdivision of any thereof, or any department, agency, authority or other instrumentality of any of the foregoing. 

“Government Obligations” means: 
 (a) direct obligations of, or obligations the timely payment of principal of and interest on which are unconditionally guaranteed by, the United States entitled to the benefit of the full faith and credit
thereof; and 
 (b) certificates, depositary receipts or other instruments that evidence a direct ownership interest in
obligations described in clause (a) above or in any specific interest or principal payments due in respect thereof; provided, however, that the custodian of such obligations or specific interest or principal payments shall be a
bank or trust company (which may include the Trustee or any Paying Agent) subject to federal or state supervision or examination with a combined capital and surplus of at least $100,000,000; and provided, further, that except as may be
otherwise required by law, such custodian shall be obligated to pay to the holders of such certificates, depositary receipts or other instruments the full amount received by such custodian in respect of such obligations or specific payments and
shall not be permitted to make any deduction therefrom. 
 “Holder” means a Person in whose name a Debt
Security is registered in the Debt Security Register. 
 “Indenture” means this instrument as originally
executed and delivered and as it may from time to time be supplemented or amended by one or more indentures or Officer’s Certificates supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of
particular series of Debt Securities established as contemplated by Section 3.01. 
 “Interest”
with respect to a Discount Debt Security means interest, if any, borne by such Debt Security at a Stated Interest Rate. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 4 

 “Interest Payment Date,” when used with respect to any Debt Security, means
the Stated Maturity of an installment of interest on such Debt Security. 
 “Maturity,” when used with respect
to any Debt Security, means the date on which the principal of such Debt Security or an installment of principal becomes due and payable as provided in such Debt Security or in this Indenture, whether at the Stated Maturity, by declaration of
acceleration, upon call for redemption or otherwise. 
 “Officer’s Certificate” means a certificate signed
by an Authorized Officer and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of
counsel, who may be counsel for the Company, or other counsel acceptable to the Trustee. 
 “Outstanding,” when
used with respect to Debt Securities, means, as of the date of determination, all Debt Securities theretofore authenticated and delivered under this Indenture, except: 
 (a) Debt Securities theretofore canceled by the Trustee or the Debt Security Registrar or delivered to the Trustee or the Debt Security Registrar for cancellation; 

(b) Debt Securities deemed to have been paid in accordance with Section 7.01; and 

(c) Debt Securities that have been paid pursuant to Section 3.06 or in exchange for or in lieu of which other Debt Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Debt Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it and the Company that such Debt Securities are held by a
bona fide purchaser or purchasers in whose hands such Debt Securities are valid obligations of the Company; 
 provided, however,
that in determining whether or not the Holders of the requisite principal amount of the Debt Securities Outstanding under this Indenture, or the Outstanding Debt Securities of any series or Tranche, have given any request, demand, authorization,
direction, notice, consent or waiver hereunder or whether or not a quorum is present at a meeting of Holders of Debt Securities, 
 (x) Debt Securities owned by the Company or any other obligor upon the Debt Securities or any Affiliate of the Company or of such other obligor (unless the Company, such Affiliate or such obligor owns all
Debt Securities Outstanding under this Indenture, or all Outstanding Debt Securities of each such series and each such Tranche, as the case may be, determined without regard to this clause (x)) shall be disregarded and deemed not to be Outstanding,
except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver or upon any such determination as to the presence of a quorum, only Debt Securities that
the Trustee knows to be so owned shall be so disregarded; provided, however, that Debt Securities so owned that have been pledged in good faith may be 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 5 

 
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Debt Securities and that the pledgee is not the
Company or any other obligor upon the Debt Securities or any Affiliate of the Company or of such other obligor; and 
 (y) the principal amount of a Discount Debt Security that shall be deemed to be Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of
such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 8.02; 
 provided,
further, that, in the case of any Debt Security the principal of which is payable from time to time without presentment or surrender, the principal amount of such Debt Security that shall be deemed to be Outstanding at any time for all
purposes of this Indenture shall be the original principal amount thereof less the aggregate amount of principal thereof theretofore paid. 
 “Paying Agent” means any Person, including the Company, authorized by the Company to pay the principal of and premium, if any, or interest (including Additional Interest), if any, on any
Debt Securities on behalf of the Company. 
 “Periodic Offering” means an offering of Debt Securities of a
series from time to time any or all of the specific terms of which Debt Securities, including without limitation the rate or rates of interest (including Additional Interest), if any, thereon, the Stated Maturity or Maturities thereof and the
redemption provisions, if any, with respect thereto, are to be determined by the Company or its agents upon the issuance of such Debt Securities. 
 “Person” means any individual, Corporation, partnership, joint venture, trust or unincorporated organization or any Governmental Authority. 

“Place of Payment,” when used with respect to the Debt Securities of any series, or Tranche thereof, means the place or
places, specified as contemplated by Section 3.01, at which, subject to Section 6.02, principal of and premium, if any, and interest (including Additional Interest), if any, on the Debt Securities of such series or Tranche
are payable. 
 “Predecessor Debt Security” of any particular Debt Security means every previous Debt Security
evidencing all or a portion of the same debt as that evidenced by such particular Debt Security; and, for the purposes of this definition, any Debt Security authenticated and delivered under Section 3.06 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Debt Security shall be deemed (to the extent lawful) to evidence the same debt as the mutilated, destroyed, lost or stolen Debt Security. 
 “Redemption Date,” when used with respect to any Debt Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

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

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 6 

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

“Required Currency” has the meaning specified in Section 3.11. 

“Responsible Officer,” when used with respect to the Trustee, means the officer of the Trustee at its Corporate Trust
Office assigned by the Trustee to administer this Indenture, and any other duly authorized officer of the Trustee to whom a matter arising under this Indenture may be referred. 

[“Senior Indebtedness” means all (i) obligations (other than non-recourse obligations and the indebtedness issued
under this Indenture) of, or guaranteed or assumed by, the Company for borrowed money, including both senior and subordinated indebtedness for borrowed money (other than the Debt Securities), or for the payment of money relating to any lease that is
capitalized on the consolidated balance sheet of the Company and its subsidiaries in accordance with generally accepted accounting principles as in effect from time to time, (ii) indebtedness evidenced by bonds, debentures, notes or other
similar instruments, (iii) obligations with respect to letters of credit, bankers’ acceptances or similar facilities issued for the account of the Company, (iv) obligations issued or assumed as the deferred purchase price of property
or services, but excluding trade accounts payable or accrued liabilities arising in the ordinary course of business, (v) obligations for claims, as defined in Section 101(5) of the United States Bankruptcy Code of 1978, as amended, in
respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; and (vi) obligations of the type referred to in each of the preceding clauses (i) through (v) of
another Person, the payment of which the Company has guaranteed or is responsible or liable for directly or indirectly, as obligor or otherwise; and in each case, amendments, renewals, extensions, modifications and refundings of any such
indebtedness or obligations, whether existing as of the date of this Indenture or subsequently incurred by the Company.]* 

“Special Record Date” for the payment of any Defaulted Interest on the Debt Securities of any series means a date fixed
by the Trustee pursuant to Section 3.07. 
 “Stated Interest Rate” means a rate (whether fixed or
variable) at which an obligation by its terms is stated to bear interest. Any calculation or other determination to be made under this Indenture by reference to the Stated Interest Rate on a Debt Security shall be made without regard to the
effective interest cost to the Company of such Debt Security and without regard to the Stated Interest Rate on, or the effective cost to the Company of, any other indebtedness in respect of which the Company’s obligations are evidenced or
secured in whole or in part by such Debt Security. 
 “Stated Maturity,” when used with respect to any
obligation or any installment of principal thereof or interest thereon, means the date on which the principal of such obligation or such installment of principal or interest is stated to be due and payable (without regard to any provisions for
redemption, prepayment, acceleration, purchase or extension). 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 7 

 “Tranche” means a group of Debt Securities that (a) are of the same
series and (b) have identical terms except as to principal amount. 
 “Trust Indenture Act” means the
Trust Indenture Act of 1939, as amended, as in force and effect as of the date of execution of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is succeeded by another statute or is amended after
such date, “Trust Indenture Act” shall mean such successor statute or the Trust Indenture Act of 1939, as so amended, to the extent such successor statute or amendment is applicable to this Indenture or to the actions of the Company or the
Trustee under or pursuant to this Indenture. 
 “Trustee” means the Person named as the “Trustee” in
the first paragraph of this Indenture until a successor Trustee shall have become such with respect to one or more series of Debt Securities pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or
include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to the Debt Securities of any series shall mean the Trustee with respect to Debt Securities of that
series. 
 “United States” means the United States of America, its territories, its possessions and other areas
subject to its political jurisdiction. 
 Section 1.02. Compliance Certificates and Opinions. 

Except as otherwise expressly provided in this Indenture, upon any application or request by the Company to the Trustee to take any
action under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied
with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
 (a) a statement that each Person signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in
such certificate or opinion are based; 
 (c) a statement that, in the opinion of each such Person, such Person has made such
examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 8 

 (d) a statement as to whether, in the opinion of each such Person, such condition or
covenant has been complied with. 
 Section 1.03. Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows,
or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which such officer’s certificate or opinion are based are erroneous. Any such certificate or Opinion of
Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of
the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Whenever, subsequent
to the receipt by the Trustee of any Board Resolution, Officer’s Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other inadvertent or unintentional error or omission shall be discovered therein, a
new document or instrument may be substituted therefor in corrected form with the same force and effect as if originally filed in the corrected form and, irrespective of the date or dates of the actual execution and/or delivery thereof, such
substitute document or instrument shall be deemed to have been executed and/or delivered as of the date or dates required with respect to the document or instrument for which it is substituted. Anything in this Indenture to the contrary
notwithstanding, if any such corrective document or instrument indicates that action has been taken by or at the request of the Company which could not have been taken had the original document or instrument not contained such error or omission, the
action so taken shall not be invalidated or otherwise rendered ineffective but shall be and remain in full force and effect (except to the extent that such action was a result of willful misconduct or bad faith or had or could be expected to have a
material adverse effect on the Holders of any Debt Securities issued hereunder). 
 Without limiting the generality of the
foregoing, any Debt Securities issued under the authority of such defective document or instrument shall nevertheless be the valid obligations of the Company entitled to the benefits of this Indenture equally and ratably with all other Outstanding
Debt Securities. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 9 

 Section 1.04. Acts of Holders. 

(a) Any request, demand, authorization, direction, notice, consent, election, waiver or other action provided by this Indenture to be
made, given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing or, alternatively, may be embodied in and evidenced
by the record of Holders voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders duly called and held in accordance with the provisions of Article XIII, or a combination of such
instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the
Company. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments and so voting at
any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Debt Security, shall be sufficient for any purpose of this Indenture and (subject to
Section 9.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. The record of any meeting of Holders shall be proved in the manner provided in Section 13.06. 

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

 (c) The principal amount (except as otherwise contemplated in clause (y) of the proviso to the definition of
Outstanding) and serial numbers of Debt Securities held by any Person, and the date of holding the same, shall be proved by the Debt Security Register. 
 (d) Any request, demand, authorization, direction, notice, consent, election, waiver or other Act of a Holder shall bind every future Holder of the same Debt Security and the Holder of every Debt Security
issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made
upon such Debt Security. 
 (e) Until such time as written instruments shall have been delivered to the Trustee with respect to
the requisite percentage of principal amount of Debt Securities for the action contemplated by such instruments, any such instrument executed and delivered by or on behalf of a Holder may be revoked with respect to any or all of such Debt Securities
by written notice by such Holder or any subsequent Holder, proven in the manner in which such instrument was proven. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 10 

 (f) Debt Securities of any series, or any Tranche thereof, authenticated and delivered after
any Act of Holders may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any action taken by such Act of Holders. If the Company shall so determine, new Debt Securities of any series, or any Tranche
thereof, so modified as to conform, in the opinion of the Trustee and the Company, to such action may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Debt Securities of such series
or Tranche. 
 (g) If the Company shall solicit from Holders any request, demand, authorization, direction, notice, consent,
waiver or other Act, the Company may, at its option, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no
obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on the
record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of the Outstanding Debt Securities have authorized or agreed or consented to such request, demand, authorization, direction,
notice, consent, waiver or other Act, and for that purpose the Outstanding Debt Securities shall be computed as of the record date. 

Section 1.05. Notices, Etc. to Trustee and Company. 
 Any request, demand, authorization, direction, notice, consent, election, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with, the Trustee by any Holder or by the Company, or the Company by the Trustee or by any Holder, shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and delivered personally to an
officer or other responsible employee of the addressee, or transmitted by facsimile transmission or other direct written electronic means to such telephone number or other electronic communications address as the parties hereto shall from time to
time designate, or transmitted by certified or registered mail, charges prepaid, to the applicable address set opposite such party’s name below or to such other address as either party hereto may from time to time designate: 

If to the Trustee, to: 
 [Trustee] 
 [Address] 

Attention: 

Telephone: 

Facsimile: 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 11 

			
	If to the Company, to:	  	With copy to:
		
	Cypress Sharpridge Investments, Inc.	  	
	437 Madison Ave., 33rd Floor	  	
	New York, New York 10022	  	
		
	Attention:	  	Attention:
	Telephone:	  	Telephone:
	Facsimile:	  	Facsimile:

 Any communication contemplated
herein shall be deemed to have been made, given, furnished and filed if personally delivered, on the date of delivery, if transmitted by facsimile transmission or other direct written electronic means, upon date of receipt of the transmission, and
if transmitted by certified or registered mail, on the date of receipt. 
 Section 1.06. Notice to Holders of Debt Securities;
Waiver. 
 Except as otherwise expressly provided herein, where this Indenture provides for notice to Holders of any event,
such notice shall be sufficiently given, and shall be deemed given, to Holders if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at the address of such Holder as it appears in the Debt Security Register,
not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. 
 In case by
reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to Holders by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders. 
 Any notice required by this Indenture may be waived in writing by the Person entitled to
receive such notice, either before or after the event otherwise to be specified therein, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon such waiver. 
 Section 1.07. Conflict with Trust Indenture Act.

 If any provision of this Indenture limits, qualifies or conflicts with another provision hereof that is required or deemed to
be included in this Indenture by, or is otherwise governed by, any of the provisions of the Trust Indenture Act, such other provision shall control; and if any provision hereof otherwise conflicts with the Trust Indenture Act, the Trust Indenture
Act shall control. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 12 

 Section 1.08. Effect of Headings and Table of Contents. 

The Article and Section headings in this Indenture and the Table of Contents are for convenience only and shall not affect the
construction hereof. 
 Section 1.09. Successors and Assigns. 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

 Section 1.10. Separability Clause. 
 In case any provision in this Indenture or the Debt Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 Section 1.11. Benefits of Indenture. 

Nothing in this Indenture or the Debt Securities, express or implied, shall give to any Person, other than the parties hereto, their
successors hereunder, the Holders, [and so long as the notice described in Section 15.14 hereof has not been given, the holders of Senior Indebtedness,]* any benefit or any legal or equitable right, remedy or claim under this Indenture.

 Section 1.12. Governing Law. 
 This Indenture and the Debt Securities shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of law principles thereof, except to the extent
that the law of any other jurisdiction shall be mandatorily applicable. 
 Section 1.13. Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Debt Security shall not be a Business Day at any
Place of Payment, then (notwithstanding any other provision of this Indenture or of the Debt Securities other than a provision in Debt Securities of any series, or any Tranche thereof, or in the indenture supplemental hereto, Board Resolution or
Officer’s Certificate that establishes the terms of the Debt Securities of such series or Tranche, which specifically states that such provision shall apply in lieu of this Section) payment of interest or principal and premium, if any, need not
be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, and, if
such payment is made or duly provided for on such Business Day, no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, to such Business Day.

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 13 

 ARTICLE II 
 DEBT SECURITY FORMS 
 Section 2.01. Forms Generally. 

The definitive Debt Securities of each series shall be in substantially the form or forms thereof established in the indenture
supplemental hereto establishing such series or in a Board Resolution establishing such series, or in an Officer’s Certificate pursuant to such supplemental indenture or Board Resolution, in each case with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the
rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Debt Securities, as evidenced by their execution of the Debt Securities. If the form or forms of Debt Securities of any series are
established in a Board Resolution or in an Officer’s Certificate pursuant to an indenture supplement hereto or to a Board Resolution, such Board Resolution and Officer’s Certificate, if any, shall be delivered to the Trustee at or prior to
the delivery of the Company Order contemplated by Section 3.03 for the authentication and delivery of such Debt Securities. 
 Unless otherwise specified as contemplated by Sections 3.01 or 12.01(g), the Debt Securities of each series shall be issuable in registered form without coupons. The definitive Debt
Securities shall be produced in such manner as shall be determined by the officers executing such Debt Securities, as evidenced by their execution thereof. 
 Section 2.02. Form of Trustee’s Certificate of Authentication. 

The Trustee’s certificate of authentication shall be in substantially the form set forth below: 

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

Dated: 

                      
                                      , as Trustee

  

					
		 	By:	 	 
		 		 	 Authorized Representative

 Section 2.03. Debt Securities Issuable in the Form of a Global Security. 
 (a) If the Company shall establish pursuant to Section 3.01 that the Debt Securities of a particular series are to be issued in whole or in part in the form of one or more Global Securities,
then the Company shall execute and the Trustee shall, in accordance with Section 3.03 and the Company Order delivered to the Trustee thereunder, authenticate and deliver such Global Security or Securities, which (i) shall represent,
and shall be denominated in 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 14 

 
an amount equal to the aggregate principal amount of the Outstanding Debt Securities of such series to be represented by such Global Security or Securities, (ii) may provide that the
aggregate amount of Outstanding Debt Securities represented thereby may from time to time be increased or reduced to reflect exchanges, (iii) shall be registered in the name of the Depositary for such Global Security or Securities or its
nominee, (iv) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction and (v) shall bear a legend in accordance with the requirements of the Depositary. The Trustee shall enter into any
agreement with the Depositary related to such Global Securities as the Company may direct in such Company Order. 
 (b)
Notwithstanding any other provision of this Section or of Section 3.05, except as contemplated by the provisions of paragraph (c) below, unless the terms of a Global Security expressly permit such Global Security to be exchanged in
whole or in part for individual Debt Securities, a Global Security may be transferred, in whole but not in part and in the manner provided in Section 3.05, only to a nominee of the Depositary for such Global Security, or to the
Depositary, or to a successor Depositary for such Global Security selected or approved by the Company, or to a nominee of such successor Depositary. 
 (c) (1) If at any time the Depositary for a Global Security notifies the Company that it is unwilling or unable to continue as the Depositary for such Global Security or if at any time the Depositary for
the Debt Securities for such series shall no longer be eligible or in good standing under the Exchange Act, or other applicable statute or regulation, the Company shall appoint a successor Depositary with respect to such Global Security. If a
successor Depositary for such Global Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company will execute, and the Trustee, upon receipt of a Company Order
for the authentication and delivery of Debt Securities of such series in the form of definitive certificates in exchange for such Global Security, will authenticate and deliver Debt Securities of such series in the form of definitive certificates of
like tenor and terms in an aggregate principal amount equal to the principal amount of the Global Security in exchange for such Global Security. Such Debt Securities will be issued to and registered in the name of such Person or Persons as are
specified by the Depositary. 
 (2) To the extent legally permitted and subject to the rules and regulations of
the acting Depositary, the Company may at any time and in its sole discretion determine that the Debt Securities of any series issued or issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or
Securities. In any such event the Company will execute, and the Trustee, upon receipt of a Company Request for the authentication and delivery of Debt Securities in the form of definitive certificates in exchange in whole or in part for such Global
Security, will authenticate and deliver without service charge to each Person specified by the Depositary Debt Securities in the form of definitive certificates of like tenor and terms in an aggregate principal amount equal to the principal amount
of such Global Security representing such series, or the aggregate principal amount of such Global Securities representing such series, in exchange for such Global Security or Securities. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 15 

 (3) If specified by the Company pursuant to Section 3.01 with
respect to Debt Securities issued or issuable in the form of a Global Security, the Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for Debt Securities in the form of definitive certificates of
like tenor and terms on such terms as are acceptable to the Company and such Depositary. Thereupon the Company shall execute, and the Trustee shall authenticate and deliver, without service charge, (A) to each Person specified by such
Depositary a new Debt Security or Securities of the same series of like tenor and terms and any authorized denomination as requested by such Person in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest
in the Global Security and (B) to such Depositary a new Global Security of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the surrendered Global Security and the aggregate
principal amount of Debt Securities delivered to Holders thereof. 
 (4) In any exchange provided for in any of
the preceding three subparagraphs, the Company shall execute and the Trustee shall authenticate and deliver Debt Securities in the form of definitive certificates in authorized denominations. Upon the exchange of the entire principal amount of a
Global Security for Debt Securities in the form of definitive certificates, such Global Security shall be canceled by the Trustee. Except as provided in the immediately preceding subparagraph, Debt Securities issued in exchange for a Global Security
pursuant to this Section shall be registered in such names and in such authorized denominations as the Depositary for such Global Security, acting pursuant to instructions from its direct or indirect participants or otherwise, shall instruct
the Trustee. Provided that the Company and the Trustee have so agreed, the Trustee shall deliver such Debt Securities to the Persons in whose names the Debt Securities are so to be registered. 

(5) Any endorsement of a Global Security to reflect the principal amount thereof, or any increase or decrease in such
principal amount, or changes in the rights of Holders of Outstanding Debt Securities represented thereby shall be made in such manner and by such Person or Persons as shall be specified in or pursuant to any applicable letter of representations or
other arrangement entered into with, or procedures of, the Depositary with respect to such Global Security or in the Company Order delivered or to be delivered pursuant to Section 3.03 with respect thereto. Subject to the provisions of
Section 3.03, the Trustee shall deliver and redeliver any such Global Security in the manner and upon instructions given by the Person or Persons specified in or pursuant to any applicable letter of representations or other arrangement
entered into with, or procedures of, the Depositary with respect to such Global Security or in any applicable Company Order. If a Company Order pursuant to Section 3.03 is so delivered, any instructions by the Company with respect to
such Global Security contained therein shall be in writing but need not be accompanied by or contained in an Officer’s Certificate and need not be accompanied by an Opinion of Counsel. 

(6) The Depositary or, if there be one, its nominee, shall be the Holder of a Global Security for all purposes under this
Indenture; and beneficial owners with respect 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 16 

 
to such Global Security shall hold their interests pursuant to applicable procedures of such Depositary. The Company, the Trustee and the Debt Security Registrar shall be entitled to deal with
such Depositary for all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any, and interest (including Additional Interest) and the giving of instructions or directions by or to the
beneficial owners of such Global Security as the sole Holder of such Global Security, and shall have no obligations to the beneficial owners thereof (including any direct or indirect participants in such Depositary)). None of the Company, the
Trustee, any Paying Agent or the Debt Security Registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security in or pursuant to any
applicable letter of representations or other arrangement entered into with, or procedures of, the Depositary with respect to such Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. 
 ARTICLE III 
 THE DEBT SECURITIES 
 Section 3.01. Amount Unlimited; Issuable in Series.

 The aggregate principal amount of Debt Securities that may be authenticated and delivered under this Indenture is unlimited.

 The Debt Securities may be issued in one or more series. Subject to the last paragraph of this Section, prior to the
authentication and delivery of Debt Securities of any series there shall be established by specification in a supplemental indenture or in a Board Resolution, or in an Officer’s Certificate pursuant to a supplemental indenture or a Board
Resolution: 
 (a) the title of the Debt Securities of such series (which shall distinguish the Debt Securities of such series
from Debt Securities of all other series); 
 (b) any limit upon the aggregate principal amount of the Debt Securities of such
series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debt Securities of the series pursuant to
Section 3.04, 3.05, 3.06, 4.06 or 12.06 and, except for any Debt Securities that, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder); 

(c) the Person or Persons (without specific identification) to whom interest on Debt Securities of such series, or any Tranche thereof,
shall be payable on any Interest Payment Date, if other than the Persons in whose names such Debt Securities (or one or more Predecessor Debt Securities) are registered at the close of business on the Regular Record Date for such interest;

 (d) the date or dates on which the principal of the Debt Securities of such series, or any Tranche thereof, is payable or any
formulary or other method or other means by which such date or dates shall be determined, by reference to an index or other fact or event ascertainable outside of this Indenture or otherwise (without regard to any provisions for redemption,
prepayment, acceleration, purchase or extension); 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 17 

 (e) the rate or rates at which the Debt Securities of such series, or any Tranche thereof,
shall bear interest, if any (including the rate or rates at which overdue principal shall bear interest, if different from the rate or rates at which such Debt Securities shall bear interest prior to Maturity, (ii) and, if applicable, the rate
or rates at which overdue premium shall bear interest, if any, and (iii) the rate or rates and the extent to which Additional Interest, if any, shall be payable), the period or periods during which such rate or rates shall be applicable, or any
formulary or other method or other means by which such rate or rates, and any period or periods, shall be determined, by reference to an index or other fact or event ascertainable outside of this Indenture or otherwise; the date or dates from which
such interest shall accrue; the Interest Payment Dates on which such interest shall be payable and the Regular Record Date, if any, for the interest payable on such Debt Securities on any Interest Payment Date[; the right of the Company, if any, to
extend the interest payment periods and the duration of any such extension as contemplated by Section 3.12]*; and the basis of computation of interest, if other than as provided in Section 3.10; 

(f) the place or places at which or methods by which (1) the principal of and premium, if any, and interest (including Additional
Interest), if any, on Debt Securities of such series, or any Tranche thereof, shall be payable, (2) registration of transfer of Debt Securities of such series, or any Tranche thereof, may be effected, (3) exchanges of Debt Securities of
such series, or any Tranche thereof, may be effected and (4) notices and demands to or upon the Company in respect of the Debt Securities of such series, or any Tranche thereof, and this Indenture may be served; the Debt Security Registrar for
such series; and if such is the case, that the principal of such Debt Securities shall be payable without presentment or surrender thereof; 
 (g) the period or periods within which, or the date or dates on which, the price or prices at which and the terms and conditions upon which the Debt Securities of such series, or any Tranche thereof, may
be redeemed, in whole or in part, at the option of the Company and any restrictions on such redemptions, including but not limited to a restriction on a partial redemption by the Company of the Debt Securities of any series, or any Tranche thereof,
resulting in delisting of such Debt Securities from any national exchange; 
 (h) the obligation or obligations, if any, of the
Company to redeem or purchase the Debt Securities of such series, or any Tranche thereof, pursuant to any sinking fund or other mandatory redemption or tender provisions or at the option of a Holder thereof and the period or periods within which or
the date or dates on which, the price or prices at which and the terms and conditions upon which such Debt Securities shall be redeemed or purchased, in whole or in part, pursuant to such obligation, and applicable exceptions to the requirements of
Section 4.04 in the case of mandatory redemption or redemption at the option of the Holder; 
 (i) the denominations in
which Debt Securities of such series, or any Tranche thereof, shall be issuable if other than denominations of $1,000 and any integral multiple thereof; 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 18 

 (j) the currency or currencies, including composite currencies, in which payment of the
principal of and premium, if any, and interest (including Additional Interest), if any, on the Debt Securities of such series, or any Tranche thereof, shall be payable (if other than in Dollars); 

(k) if the principal of or premium, if any, or interest (including Additional Interest), if any, on the Debt Securities of such series,
or any Tranche thereof, are to be payable, at the election of the Company or a Holder thereof, in a coin or currency other than that in which the Debt Securities are stated to be payable, the period or periods within which and the terms and
conditions upon which, such election may be made; 
 (l) if the principal of or premium, if any, or interest (including
Additional Interest), if any, on the Debt Securities of such series, or any Tranche thereof, are to be payable, or are to be payable at the election of the Company or a Holder thereof, in securities or other property, the type and amount of such
securities or other property, or the formulary or other method or other means by which such amount shall be determined, and the period or periods within which, and the terms and conditions upon which, any such election may be made; 

(m) if the amount payable in respect of principal of or premium, if any, or interest, if any, on the Debt Securities of such series, or
any Tranche thereof, may be determined with reference to an index or other fact or event ascertainable outside this Indenture, the manner in which such amounts shall be determined to the extent not established pursuant to clause (e) of this
paragraph; 
 (n) if other than the principal amount thereof, the portion of the principal amount of Debt Securities of such
series, or any Tranche thereof, that shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 8.02; 
 (o) any Events of Default, in addition to those specified in Section 8.01, with respect to the Debt Securities of such series, and any covenants of the Company for the benefit of the Holders
of the Debt Securities of such series, or any Tranche thereof, in addition to those set forth in Article VI; 
 (p)
the terms, if any, pursuant to which the Debt Securities of such series, or any Tranche thereof, may be converted into or exchanged for shares of beneficial interest or other securities of the Company or any other Person; 

(q) the obligations or instruments, if any, that shall be considered to be Eligible Obligations in respect of the Debt Securities of such
series, or any Tranche thereof, denominated in a currency other than Dollars or in a composite currency, and any additional or alternative provisions for the reinstatement of the Company’s indebtedness in respect of such Debt Securities after
the satisfaction and discharge thereof as provided in Section 7.01; 
 (r) whether the Debt Securities of the series
shall be issued in whole or in part in the form of a Global Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for certificated Debt Securities of such series
and of like tenor of any authorized denomination and the circumstances under which 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 19 

 
such exchange may occur, if other than in the manner provided for in Section 2.03; the Depositary for such Global Security or Securities; and the form of any legend or legends to be
borne by any such Global Security in addition to or in lieu of the legend referred to in Section 2.03; 
 (s) if the
Debt Securities of such series, or any Tranche thereof, are to be issuable in bearer form, any and all matters incidental thereto that are not specifically addressed in a supplemental indenture as contemplated by Section 12.01(g);

 (t) to the extent not established pursuant to clause (r) of this paragraph, any limitations on the rights of the Holders
of the Debt Securities of such series, or any Tranche thereof, to transfer or exchange such Debt Securities or to obtain the registration of transfer thereof; and if a service charge will be made for the registration of transfer or exchange of Debt
Securities of such series, or any Tranche thereof, the amount or terms thereof; 
 (u) any exceptions to
Section 1.13, or variation in the definition of Business Day, with respect to the Debt Securities of such series, or any Tranche thereof; 
 (v) any collateral security, assurance or guarantee for such series of Debt Securities; 
 (w) any credit enhancement applicable to the Debt Securities of such series; and 

(x) any other terms of the Debt Securities of such series, or any Tranche thereof, not inconsistent with the provisions of this
Indenture. 
 [The Debt Securities of each series, or any Tranche thereof, shall be subordinated in the right of payment to
Senior Indebtedness as provided in Article XV.]* 
 With respect to Debt Securities of a series subject to a
Periodic Offering, the indenture supplemental hereto or the Board Resolution that establishes such series, or the Officer’s Certificate pursuant to such supplemental indenture or Board Resolution, as the case may be, may provide general terms
or parameters for Debt Securities of such series and provide either that the specific terms of Debt Securities of such series, or any Tranche thereof, shall be specified in a Company Order or that such terms shall be determined by the Company or its
agents in accordance with procedures specified in a Company Order as contemplated by clause (b) of the third paragraph of Section 3.03. 
 Section 3.02. Denominations. 
 Unless otherwise provided as
contemplated by Section 3.01 with respect to any series of Debt Securities, or any Tranche thereof, the Debt Securities of each series shall be issuable in denominations of $1,000 and any integral multiple thereof. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 20 

 Section 3.03. Execution, Authentication, Delivery and Dating. 

Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Debt Securities, or any Tranche
thereof, the Debt Securities shall be executed on behalf of the Company by an Authorized Officer and may have the corporate seal of the Company affixed thereto or reproduced thereon attested by any other Authorized Officer. The signature of any or
all of these officers on the Debt Securities may be manual or facsimile. 
 Debt Securities bearing the manual or facsimile
signatures of individuals who were at the time of execution Authorized Officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of
such Debt Securities or did not hold such offices at the date of such Debt Securities. 
 The Trustee shall authenticate and
deliver Debt Securities of a series, for original issue, at one time or from time to time in accordance with the Company Order referred to below, upon receipt by the Trustee of: 

(a) the instrument or instruments establishing the form or forms and terms of such series, as provided in Sections 2.01 and
3.01; 
 (b) a Company Order requesting the authentication and delivery of such Debt Securities and, to the extent that
the terms of such Debt Securities shall not have been established in an indenture supplemental hereto or in a Board Resolution, or in an Officer’s Certificate pursuant to a supplemental indenture or Board Resolution, all as contemplated by
Sections 2.01 and 3.01, either (i) establishing such terms or (ii) in the case of Debt Securities of a series subject to a Periodic Offering, specifying procedures, acceptable to the Trustee, by which such terms are to be
established (which procedures may provide, to the extent acceptable to the Trustee, for authentication and delivery pursuant to oral or electronic instructions from the Company or any agent or agents thereof, which oral instructions are to be
promptly confirmed electronically or in writing), in either case in accordance with the instrument or instruments delivered pursuant to clause (a) above; 
 (c) the Debt Securities of such series, executed on behalf of the Company by an Authorized Officer; 
 (d) an Opinion of Counsel to the effect that: 
 (i) the form or
forms of such Debt Securities have been duly authorized by the Company and have been established in conformity with the provisions of this Indenture; 
 (ii) the terms of such Debt Securities have been duly authorized by the Company and have been established in conformity with the provisions of this Indenture; and 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 21 

 (iii) assuming authentication and delivery by the Trustee and subject to any
conditions specified in such Opinion of Counsel, such Debt Securities will have been duly issued under this Indenture and will be legal, valid and binding obligations of the Company, enforceable in accordance with their terms, subject, as to
enforcement, to laws relating to or affecting generally the enforcement of creditors’ rights, including, without limitation, bankruptcy and insolvency laws and to general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law); 
 provided, however, that, with respect to Debt Securities of a series subject
to a Periodic Offering, the Trustee shall be entitled to receive such Opinion of Counsel only once at or prior to the time of the first authentication of such Debt Securities (provided that such Opinion of Counsel addresses the authentication and
delivery of all Debt Securities of such series) and that in lieu of the opinions described in clauses (ii) and (iii) above Counsel may opine that: 
 (x) when the terms of such Debt Securities shall have been established pursuant to a Company Order or Orders or pursuant to such procedures (acceptable to the Trustee) as may be specified from time to
time by a Company Order or Orders, all as contemplated by and in accordance with the instrument or instruments delivered pursuant to clause (a) above, such terms will have been duly authorized by the Company and will have been established in
conformity with the provisions of this Indenture; and 
 (y) such Debt Securities, when authenticated and
delivered by the Trustee in accordance with this Indenture and the Company Order or Orders or specified procedures referred to in paragraph (x) above and issued and delivered by the Company in the manner and subject to any conditions specified
in such Opinion of Counsel, will have been duly issued under this Indenture and will constitute valid and legally binding obligations of the Company, entitled to the benefits provided by the Indenture, and enforceable in accordance with their terms,
subject, as to enforcement, to laws relating to or affecting generally the enforcement of creditors’ rights, including, without limitation, bankruptcy and insolvency laws and to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 With respect to Debt Securities of a series subject to a
Periodic Offering, the Trustee may conclusively rely, as to the authorization by the Company of any of such Debt Securities, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of
Counsel and other documents delivered pursuant to Sections 2.01 and 3.01 and this Section, as applicable, at or prior to the time of the first authentication of Debt Securities of such series unless and until such opinion or other
documents have been superseded or revoked or expire by their terms. In connection with the authentication and delivery of Debt Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume that the Company’s
instructions to authenticate and deliver such Debt Securities do not violate any rules, regulations or orders of any Governmental Authority having jurisdiction over the Company. 

If the form or terms of the Debt Securities of any series have been established by or pursuant to a Board Resolution or an Officer’s
Certificate as permitted by Sections 2.01 or 3.01, the Trustee shall not be required to authenticate such Debt Securities if the issuance of such Debt 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 22 

 
Securities pursuant to this Indenture will materially or adversely affect the Trustee’s own rights, duties or immunities under the Debt Securities and this Indenture or otherwise in a manner
that is not reasonably acceptable to the Trustee. 
 Unless otherwise specified as contemplated by Section 3.01 with
respect to any series of Debt Securities, or any Tranche thereof, each Debt Security shall be dated the date of its authentication. 
 Unless otherwise specified as contemplated by Section 3.01 with respect to any series of Debt Securities, or any Tranche thereof, no Debt Security shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there appears on such Debt Security a certificate of authentication substantially in the form provided for herein executed by the Trustee or its agent by manual signature, and such
certificate upon any Debt Security shall be conclusive evidence, and the only evidence, that such Debt Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if
any Debt Security shall have been authenticated and delivered hereunder to the Company, or any Person acting on its behalf, but shall never have been issued and sold by the Company, and the Company shall deliver such Debt Security to the Debt
Security Registrar for cancellation as provided in Section 3.09 together with a written statement (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) stating that such Debt Security
has never been issued and sold by the Company, for all purposes of this Indenture such Debt Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits hereof. 

Section 3.04. Temporary Debt Securities. 
 Pending the preparation of definitive Debt Securities of any series, or any Tranche thereof, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Debt
Securities that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Debt Securities in lieu of which they are issued, with such appropriate
insertions, omissions, substitutions and other variations as the officers executing such Debt Securities may determine, as evidenced by their execution of such Debt Securities; provided, however, that temporary Debt Securities need not
recite specific redemption, sinking fund, conversion or exchange provisions. 
 Unless otherwise specified as contemplated by
Section 3.01 with respect to the Debt Securities of any series, or any Tranche thereof, after the preparation of definitive Debt Securities of such series or Tranche, the temporary Debt Securities of such series or Tranche shall be
exchangeable, without charge to the Holder thereof, for definitive Debt Securities of such series or Tranche, upon surrender of such temporary Debt Securities at the office or agency of the Company maintained pursuant to Section 6.02 in
a Place of Payment for such Debt Securities. Upon such surrender of temporary Debt Securities, the Company shall, except as aforesaid, execute and the Trustee shall authenticate and deliver in exchange therefor definitive Debt Securities of the same
series and Tranche, of authorized denominations and of like tenor and aggregate principal amount. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 23 

 Until exchanged in full as hereinabove provided, temporary Debt Securities shall in all
respects be entitled to the same benefits under this Indenture as definitive Debt Securities of the same series and Tranche and of like tenor authenticated and delivered hereunder. 
 Section 3.05. Registration, Registration of Transfer and Exchange. 

The Company shall cause to be kept in each office designated pursuant to Section 6.02, with respect to the Debt Securities of
each series or any Tranche thereof, a register (all registers kept in accordance with this Section being collectively referred to as the “Debt Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Debt Securities of such series or Tranche and the registration of transfer thereof. The Company shall designate one Person to maintain the Debt Security Register for the Debt Securities of
each series on a consolidated basis, and such Person is referred to herein, with respect to such series, as the “Debt Security Registrar.” Anything herein to the contrary notwithstanding, the Company may designate one or more of its
offices as an office in which the Debt Security Register shall be maintained, and the Company may designate itself the Debt Security Registrar with respect to one or more of such series. The Debt Security Register shall be open for inspection by the
Trustee and the Company at all reasonable times. 
 Except as otherwise specified as contemplated by Section 3.01
with respect to the Debt Securities of any series, or any Tranche thereof, upon surrender for registration of transfer of any Debt Security of such series or Tranche at the office or agency of the Company maintained pursuant to
Section 6.02 in a Place of Payment for such series or Tranche, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Debt Securities of the
same series and Tranche, of authorized denominations and of like tenor and aggregate principal amount. 
 Except as otherwise
specified as contemplated by Section 3.01 with respect to the Debt Securities of any series, or any Tranche thereof, any Debt Security of such series or Tranche may be exchanged at the option of the Holder for one or more new Debt Securities
of the same series and Tranche, of authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Debt Securities to be exchanged at any such office or agency. Whenever any Debt Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Debt Securities that the Holder making the exchange is entitled to receive. 
 All Debt Securities delivered upon any registration of transfer or exchange of Debt Securities shall be valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under
this Indenture, as the Debt Securities surrendered upon such registration of transfer or exchange. 
 Every Debt Security
presented or surrendered for registration of transfer or for exchange shall (if so required by the Company, the Trustee or the Debt Security Registrar) be duly endorsed or shall be accompanied by a written instrument of transfer in form satisfactory
to the Company, the Trustee or the Debt Security Registrar, as the case may be, duly executed by the Holder thereof or his attorney duly authorized in writing. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 24 

 Unless otherwise specified as contemplated by Section 3.01 with respect to Debt
Securities of any series, or any Tranche thereof, no service charge shall be made for any registration of transfer or exchange of Debt Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in connection with any registration of transfer or exchange of Debt Securities, other than exchanges pursuant to Section 3.04, 4.06 or 12.06 not involving any transfer. 

The Company shall not be required to execute or to provide for the registration of transfer of or the exchange of (a) Debt
Securities of any series, or any Tranche thereof, during a period of 15 days immediately preceding the day the mailing of a notice of redemption of the Debt Securities of such series or Tranche is to be made or (b) any Debt Security so selected
for redemption in whole or in part, except the unredeemed portion of any Debt Security being redeemed in part. 
 None of the
Company, the Trustee, any Paying Agent or the Debt Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for
maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 Section 3.06. Mutilated,
Destroyed, Lost and Stolen Debt Securities. 
 If any mutilated Debt Security is surrendered to the Trustee, the Company
shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Debt Security of the same series, and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

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

Notwithstanding the foregoing, in case any such mutilated, destroyed, lost or stolen Debt Security has become or is about to become due
and payable, the Company in its discretion may, instead of issuing a new Debt Security, pay such Debt Security. 
 Upon the
issuance of any new Debt Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees
and expenses of the Trustee) connected therewith. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 25 

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

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, destroyed, lost or stolen Debt Securities. 
 Section 3.07. Payment of Interest and Additional
Interest; Interest Rights Preserved. 
 Unless otherwise specified as contemplated by Section 3.01 with respect
to the Debt Securities of any series, or any Tranche thereof, interest and Additional Interest, if any, on any Debt Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Debt Security (or one or more Predecessor Debt Securities) is registered at the close of business on the Regular Record Date for such interest. 
 [Subject to Section 3.12]* any interest on any Debt Security of any series that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Holder on the related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case,
as provided in clause (a) or (b) below: 
 (a) The Company may elect to make payment of any Defaulted Interest to the
Persons in whose names the Debt Securities of such series (or their respective Predecessor Debt Securities) are registered at the close of business on a date (herein called a “Special Record Date”) for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Debt Security of such series and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date
of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest, which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall promptly cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage
prepaid, to each Holder of 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 26 

 
Debt Securities of such series at the address of such Holder as it appears in the Debt Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment
of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such series (or their respective Predecessor Debt Securities) are
registered at the close of business on such Special Record Date. 
 (b) The Company may make payment of any Defaulted Interest
on the Debt Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Debt Securities may be listed, and upon such notice as may be required by such exchange, if, after notice
given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section and Section 3.05, each Debt Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of
any other Debt Security shall carry the rights to interest (including any Additional Interest) accrued and unpaid, and to accrue, that were carried by such other Debt Security. 
 Section 3.08. Persons Deemed Owners. 
 Prior to due presentment of a
Debt Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Debt Security is registered as the absolute owner of such Debt Security for the purpose of
receiving payment of principal of and premium, if any, and (subject to Sections 3.05 and 3.07) interest, if any, on such Debt Security and for all other purposes whatsoever, whether or not such Debt Security is overdue, and neither the
Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 Section 3.09.
Cancellation by Debt Security Registrar. 
 All Debt Securities surrendered for payment, redemption, registration of
transfer or exchange shall, if surrendered to any Person other than the Debt Security Registrar, be delivered to the Debt Security Registrar and, if not theretofore canceled, shall be promptly canceled by the Debt Security Registrar. The Company may
at any time deliver to the Debt Security Registrar for cancellation any Debt Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever or which the Company shall not have issued and
sold, and all Debt Securities so delivered shall be promptly canceled by the Debt Security Registrar. No Debt Securities shall be authenticated in lieu of or in exchange for any Debt Securities canceled as provided in this Section, except as
expressly permitted by this Indenture. All certificates representing canceled Debt Securities held by the Debt Security Registrar shall be disposed of in accordance with the customary practices of the Debt Security Registrar at the time in effect,
and the Debt Security Registrar shall not be required to destroy any such certificates. The Debt Security Registrar, if other than the Trustee, shall promptly deliver a certificate of disposition with respect to such disposed certificates to the
Trustee and the Company unless, by a Company Order, similarly delivered, the Company shall direct that 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 27 

 
canceled Debt Securities be returned to it. The Debt Security Registrar shall promptly deliver evidence of any cancellation of a Debt Security in accordance with this Section to the Trustee
and the Company. If the Trustee is the entity acting as Debt Security Registrar, it shall promptly deliver to the Company a certificate of disposition with respect to any certificates disposed of and/or evidence of any cancellation of a Debt
Security, in each case in accordance with this Section, if so requested by a Company Order. 
 Section 3.10. Computation of
Interest. 
 Except as otherwise specified as contemplated by Section 3.01 for Debt Securities of any series, or
any Tranche thereof, interest on the Debt Securities of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day months and on the basis of the actual number of days elapsed within any month in relation to the deemed
30 days of such month. 
 Section 3.11. Payment to be in Proper Currency. 

In the case of the Debt Securities of any series, or any Tranche thereof, denominated in any currency other than Dollars or in a
composite currency (the “Required Currency”), except as otherwise specified with respect to such Debt Securities as contemplated by Section 3.01, the obligation of the Company to make any payment of the principal
thereof, or the premium or interest thereon, shall not be discharged or satisfied by any tender by the Company, or recovery by the Trustee, in any currency other than the Required Currency, except to the extent that such tender or recovery shall
result in the Trustee timely holding the full amount of the Required Currency then due and payable. If any such tender or recovery is in a currency other than the Required Currency, the Trustee may take such actions as it considers appropriate to
exchange such currency for the Required Currency. The costs and risks of any such exchange, including without limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company, the Company shall remain fully liable for any
shortfall or delinquency in the full amount of Required Currency then due and payable, and in no circumstances shall the Trustee be liable therefor except in the case of its negligence or willful misconduct. 

Section 3.12. [Extension of Interest Payment]*. 
 [The Company shall have the right at any time, so long as the Company is not in default in the payment of interest on the Debt Securities of any series hereunder, to extend interest payment periods on all
Debt Securities of one or more series, or Tranches thereof, if so specified as contemplated by Section 3.01 with respect to such Debt Securities and upon such terms as may be specified as contemplated by Section 3.01 with
respect to such Debt Securities.]* 
 ARTICLE IV 
 REDEMPTION OF DEBT SECURITIES 
 Section 4.01. Applicability of Article.

 Debt Securities of any series, or any Tranche thereof, that are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for Debt Securities of such series or Tranche) in accordance with this Article. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 Section 4.02. Election to Redeem; Notice to Trustee. 

The election of the Company to redeem any Debt Securities shall be evidenced by a Board Resolution and/or an Officer’s Certificate.
The Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee in writing of such Redemption Date and of the principal amount of such Debt
Securities to be redeemed. In the case of any redemption of Debt Securities (a) prior to the expiration of any restriction on such redemption provided in the terms of such Debt Securities or elsewhere in this Indenture or (b) pursuant to
an election of the Company that is subject to a condition specified in the terms of such Debt Securities, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction or condition. 

Section 4.03. Selection of Debt Securities to be Redeemed. 
 If less than all the Debt Securities of any series, or any Tranche thereof, are to be redeemed, the particular Debt Securities to be redeemed shall be selected by the Trustee from the Outstanding Debt
Securities of such series or Tranche not previously called for redemption, by such method as shall be provided for any particular series, or, in the absence of any such provision, by such method of random selection as the Trustee shall deem fair and
appropriate and which may, in any case, provide for the selection for redemption of portions (equal to the minimum authorized denomination for Debt Securities of such series or Tranche or any integral multiple thereof) of the principal amount of
Debt Securities of such series or Tranche of a denomination larger than the minimum authorized denomination for Debt Securities of such series or Tranche; provided, however, that if, as indicated in an Officer’s Certificate, the
Company shall have offered to purchase all or any principal amount of the Debt Securities then Outstanding of any series, or any Tranche thereof, and less than all of such Debt Securities as to which such offer was made shall have been tendered to
the Company for such purchase, the Trustee, if so directed by Company Order, shall select for redemption all or any principal amount of such Debt Securities that have not been so tendered. 

If the Debt Securities are then held in the form of a Global Security, the Debt Securities to be redeemed shall be selected in accordance
with the customary procedures of the Depositary. 
 The Trustee shall promptly notify the Company and the Debt Security
Registrar in writing of the Debt Securities selected for redemption and, in the case of any Debt Securities selected to be redeemed in part, the principal amount thereof to be redeemed. 

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

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 29 

 Section 4.04. Notice of Redemption. 

Notice of redemption shall be given in the manner provided in Section 1.06 to the Holders of the Debt Securities to be
redeemed not less than 30 nor more than 60 days prior to the Redemption Date. 
 All notices of redemption shall state:

 (a) the Redemption Date, 
 (b) the Redemption Price, 
 (c) if less than all the Debt Securities of any series
or Tranche are to be redeemed, the identification of the particular Debt Securities to be redeemed and the portion of the principal amount of any Debt Security to be redeemed in part, 

(d) that on the Redemption Date, the Redemption Price, together with accrued interest (including Additional Interest), if any, to the
Redemption Date, will become due and payable upon each such Debt Security to be redeemed and, if applicable and provided that the Redemption Price is received by the Paying Agent or Agents on or prior to the Redemption Date, that interest (including
any Additional Interest) thereon will cease to accrue on and after said date, 
 (e) the place or places where such Debt
Securities are to be surrendered for payment of the Redemption Price and accrued interest, if any, unless it shall have been specified as contemplated by Section 3.01 with respect to such Debt Securities that such surrender shall not be
required, 
 (f) that the redemption is for a sinking or other fund, if such is the case, and 

(g) such other matters as the Company shall deem desirable or appropriate (including CUSIP numbers with respect to such Debt Securities,
if the Company shall so elect, in which event such notice of redemption may contain a disclaimer as to the correctness of such numbers either as printed on the Debt Securities or on such notice of redemption). 

Unless otherwise specified with respect to any Debt Securities in accordance with Section 3.01, with respect to any notice of
redemption of Debt Securities at the election of the Company, unless, upon the giving of such notice, such Debt Securities shall be deemed to have been paid in accordance with Section 7.01, such notice may state that such redemption
shall be conditional upon the receipt by the Paying Agent or Agents for such Debt Securities, on or prior to the date fixed for such redemption, of money sufficient to pay the principal of and premium, if any, and interest (including Additional
Interest), if any, on such Debt Securities and that if such money shall not have been so received such notice shall be of no force or effect and the Company shall not be required to redeem such Debt Securities. In the event that such notice of
redemption contains such a condition and such money is not so received, the redemption shall not be made and within a reasonable time thereafter notice shall be given, in the manner in which 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 30 

 
the notice of redemption was given, that such money was not so received and such redemption was not required to be made, and the Paying Agent or Agents for the Debt Securities otherwise to have
been redeemed shall promptly return to the Holders thereof any of such Debt Securities that had been surrendered for payment upon such redemption. 
 Notice of redemption of Debt Securities to be redeemed at the election of the Company, and any notice of non-satisfaction of a condition for redemption as aforesaid, shall be given by the Company or, at
the Company’s request, by the Debt Security Registrar in the name and at the expense of the Company. Notice of mandatory redemption of Debt Securities shall be given by the Debt Security Registrar in the name and at the expense of the Company.

 Section 4.05. Debt Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, and the conditions, if any, set forth in such notice having been satisfied, the Debt
Securities or portions thereof so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless, in the case of an unconditional notice of redemption, the Company
shall default in the payment of the Redemption Price and accrued interest (including Additional Interest), if any) such Debt Securities or portions thereof, if interest-bearing, shall cease to bear interest. Upon surrender of any such Debt Security
for redemption in accordance with such notice, such Debt Security or portion thereof shall be paid by the Company at the Redemption Price, together with accrued interest (including Additional Interest), if any, to the Redemption Date;
provided, however, that no such surrender shall be a condition to such payment if so specified as contemplated by Section 3.01 with respect to such Debt Security; and provided, further, that except as
otherwise specified as contemplated by Section 3.01 with respect to such Debt Security, any installment of interest on any Debt Security the Stated Maturity of which installment is on or prior to the Redemption Date shall be payable to
the Holder of such Debt Security, or one or more Predecessor Debt Securities, registered as such at the close of business on the related Regular Record Date according to the terms of such Debt Security and subject to the provisions of
Section 3.07. 
 Section 4.06. Debt Securities Redeemed in Part. 

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

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 31 

 ARTICLE V 
 SINKING FUNDS 
 Section 5.01. Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of the Debt Securities of any series, or
any Tranche thereof, except as otherwise specified as contemplated by Section 3.01 for Debt Securities of such series or Tranche. 
 The minimum amount of any sinking fund payment provided for by the terms of Debt Securities of any series, or any Tranche thereof, is herein referred to as a “mandatory sinking fund payment,”
and any payment in excess of such minimum amount provided for by the terms of Debt Securities of any series, or any Tranche thereof, is herein referred to as an “optional sinking fund payment.” If provided for by the terms of Debt
Securities of any series, or any Tranche thereof, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 5.02. Each sinking fund payment shall be applied to the redemption of Debt Securities of the
series or Tranche in respect of which it was made as provided for by the terms of such Debt Securities. 
 Section 5.02. Satisfaction of
Sinking Fund Payments with Debt Securities. 
 The Company (a) may deliver to the Trustee Outstanding Debt Securities
(other than any previously called for redemption) of a series or Tranche in respect of which a mandatory sinking fund payment is to be made and (b) may apply as a credit Debt Securities of such series or Tranche that have been purchased by the
Company or redeemed either at the election of the Company pursuant to the terms of such Debt Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Debt Securities, in each case in
satisfaction of all or any part of such mandatory sinking fund payment; provided, however, that no Debt Securities shall be applied in satisfaction of a mandatory sinking fund payment if such Debt Securities shall have been previously
so applied. Debt Securities so applied shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Debt Securities for redemption through operation of the sinking fund and the amount of such mandatory
sinking fund payment shall be reduced accordingly. 
 Section 5.03. Redemption of Debt Securities for Sinking Fund. 

Not less than 45 days prior to each sinking fund payment date for the Debt Securities of any series, or any Tranche thereof, the Company
shall deliver to the Trustee an Officer’s Certificate specifying: 
 (a) the amount of the next succeeding mandatory
sinking fund payment for such series or Tranche; 
 (b) the amount, if any, of the optional sinking fund payment to be made
together with such mandatory sinking fund payment; 
 (c) the aggregate sinking fund payment; 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 32 

 (d) the portion, if any, of such aggregate sinking fund payment that is to be satisfied by
the payment of cash; and 
 (e) the portion, if any, of such aggregate sinking fund payment that is to be satisfied by
delivering and crediting Debt Securities of such series or Tranche pursuant to Section 5.02 and stating the basis for such credit and that such Debt Securities have not previously been so credited, and, if it has not already done so, the
Company shall also deliver to the Trustee any Debt Securities to be so delivered. 
 If the Company shall not have delivered
such Officer’s Certificate and, to the extent applicable, all such Debt Securities, on or prior to the 45th day prior to such sinking fund payment date, the sinking fund payment for such series or Tranche in respect of such sinking fund payment
date shall be made entirely in cash in the amount of the mandatory sinking fund payment. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date
in the manner specified in Section 4.03 and the Debt Security Registrar shall cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 4.04. Such
notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Sections 4.05 and 4.06. 
 ARTICLE VI 
 COVENANTS 

Section 6.01. Payment of Principal, Premium and Interest. 
 The Company shall pay the principal of and premium, if any, and interest, if any, on the Debt Securities of each series in accordance with the terms of such Debt Securities and this Indenture. 

Section 6.02. Maintenance of Office or Agency. 
 The Company shall maintain in each Place of Payment for the Debt Securities of each series, or any Tranche thereof, an office or agency where payment of such Debt Securities shall be made, where the
registration of transfer or exchange of such Debt Securities may be effected and where notices and demands to or upon the Company in respect of such Debt Securities and this Indenture may be served. The Company shall give prompt written notice to
the Trustee of the location, and any change in the location, of each such office or agency and prompt notice to the Holders of any such change in the manner specified in Section 1.06. If at any time the Company shall fail to maintain any
such required office or agency in respect of Debt Securities of any series, or any Tranche thereof, or shall fail to furnish the Trustee with the address thereof, payment of such Debt Securities shall be made, registration of transfer or exchange
thereof may be effected and notices and demands in respect thereof may be served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent for all such purposes in any such event. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 The Company may also from time to time designate one or more other offices or agencies with
respect to the Debt Securities of one or more series, or any Tranche thereof, for any or all of the foregoing purposes and may from time to time rescind such designations; provided, however, that, unless otherwise specified as
contemplated by Section 3.01 with respect to the Debt Securities of such series or Tranche no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency for such purposes in
each Place of Payment for such Debt Securities in accordance with the requirements set forth above. The Company shall give prompt written notice to the Trustee, and prompt notice to the Holders in the manner specified in Section 1.06, of
any such designation or rescission and of any change in the location of any such other office or agency. 
 Anything herein to
the contrary notwithstanding, any office or agency required by this Section may be maintained at an office of the Company, in which event the Company shall perform all functions to be performed at such office or agency. 

Section 6.03. Money for Debt Securities Payments to be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to the Debt Securities of any series, or any Tranche thereof,
it shall, on or before each due date of the principal of and premium, if any, and interest (including Additional Interest), if any, on any of such Debt Securities, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal and premium or interest (including Additional Interest) so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee of any
failure by the Company (or any other obligor on such Debt Securities) to make any payment of principal of or premium, if any, or interest (including Additional Interest), if any, on such Debt Securities. 

Whenever the Company shall have one or more Paying Agents for the Debt Securities of any series, or any Tranche thereof, it shall, on or
before each due date of the principal of and premium, if any, and interest (including Additional Interest), if any, on such Debt Securities, deposit with such Paying Agents sums sufficient (without duplication) to pay the principal and premium or
interest (including Additional Interest) so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest (including Additional Interest), and (unless such Paying Agent is the Trustee) the
Company shall promptly notify the Trustee of any failure by it so to act. 
 The Company shall cause each Paying Agent for the
Debt Securities of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section,
that such Paying Agent shall: 
 (a) hold all sums held by it for the payment of the principal of and premium, if any, or
interest (including Additional Interest), if any, on such Debt Securities in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 34 

 (b) give the Trustee notice of any failure by the Company (or any other obligor upon such
Debt Securities) to make any payment of principal of or premium, if any, or interest, (including Additional Interest) if any, on such Debt Securities; and 
 (c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent and furnish to the Trustee
such information as it possesses regarding the names and addresses of the Persons entitled to such sums. 
 The Company may at
any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the
Company or such Paying Agent and, if so stated in a Company Order delivered to the Trustee, in accordance with the provisions of Article VII; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released
from all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held
by the Company, in trust for the payment of the principal of and premium, if any, or interest (including Additional Interest), if any, on any Debt Security and remaining unclaimed for two years after such principal and premium, if any, or interest
(including Additional Interest) has become due and payable shall be paid to the Company on Company Request, or, if then held by the Company, shall be discharged from such trust; and, upon such payment or discharge, the Holder of such Debt Security
shall, as an unsecured general creditor and not as a Holder of an Outstanding Debt Security, look only to the Company for payment of the amount so due and payable and remaining unpaid, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such payment to the Company, may at
the expense of the Company cause to be mailed, on one occasion only, notice to such Holder that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such mailing, any unclaimed
balance of such money then remaining will be paid to the Company. 
 Section 6.04. Corporate Existence. 

Subject to the rights of the Company under Article XI, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 35 

 Section 6.05. Annual Officer’s Certificate as to Compliance. 

Not later than
                     in each year, commencing
                    , the Company shall deliver to the Trustee an Officer’s Certificate, which need not comply with
Section 1.02, executed by the principal executive officer, the principal financial officer or the principal accounting officer of the Company, stating whether, to such officer’s knowledge, the Company is in compliance with all
conditions and covenants under this Indenture, such compliance to be determined without regard to any period of grace or requirement of notice under this Indenture, and making any other statements as may be required by the provisions of
Section 314(a)(4) of the Trust Indenture Act. 
 Section 6.06. Waiver of Certain Covenants. 

The Company may omit in any particular instance to comply with any term, provision or condition set forth in (a) Section 6.02
or any additional covenant or restriction specified with respect to the Debt Securities of any series, or any Tranche thereof, as contemplated by Section 3.01 if before the time for such compliance the Holders of at least a majority in
aggregate principal amount of the Outstanding Debt Securities of all series and Tranches with respect to which compliance with Section 6.02 or such additional covenant or restriction is to be omitted, considered as one class, shall, by
Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition and (b) Sections 6.04, 6.05, or Article XI if before the time for such
compliance the Holders of at least a majority in principal amount of Debt Securities Outstanding under this Indenture shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term,
provision or condition; but, in the case of (a) or (b), no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the
Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

ARTICLE VII 

SATISFACTION AND DISCHARGE 

Section 7.01. Satisfaction and Discharge of Debt Securities. 
 Any Debt Security or Debt Securities, or any portion of the principal amount thereof, shall be deemed to have been paid for all purposes of this Indenture, and the entire indebtedness of the Company in
respect thereof shall be deemed to have been satisfied and discharged, if there shall have been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust: 

(a) money in an amount that shall be sufficient, or 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 36 

 (b) in the case of a deposit made prior to the Maturity of such Debt Securities or portions
thereof, Eligible Obligations, which shall not contain provisions permitting the redemption or other prepayment thereof at the option of the issuer thereof, the principal of and the interest on that when due, without any regard to reinvestment
thereof, will provide moneys which, together with the money, if any, deposited with or held by the Trustee or such Paying Agent, shall be sufficient, or 
 (c) a combination of (a) or (b) that shall be sufficient, 
 to pay when due the
principal of and premium, if any, and interest (including Additional Interest), if any, due and to become due on such Debt Securities or portions thereof on or prior to Maturity; provided, however, that in the case of the provision for
payment or redemption of less than all the Debt Securities of any series or Tranche, such Debt Securities or portions thereof shall have been selected by the Trustee as provided herein and, in the case of a redemption, the notice requisite to the
validity of such redemption shall have been given or irrevocable authority shall have been given by the Company to the Trustee to give such notice, under arrangements satisfactory to the Trustee; and provided, further, that the Company
shall have delivered to the Trustee and such Paying Agent: 
 (x) if such deposit shall have been made prior to
the Maturity of such Debt Securities, a Company Order stating that the money and Eligible Obligations deposited in accordance with this Section shall be held in trust, as provided in Section 7.03; 

(y) if Eligible Obligations shall have been deposited, an Opinion of Counsel that the obligations so deposited constitute
Eligible Obligations and do not contain provisions permitting the redemption or other prepayment at the option of the issuer thereof, and an opinion of an independent public accountant of nationally recognized standing, selected by the Company, to
the effect that the requirements set forth in clause (b) above have been satisfied; and 
 (z) if such
deposit shall have been made prior to the Maturity of such Debt Securities, an Officer’s Certificate stating the Company’s intention that, upon delivery of such Officer’s Certificate, its indebtedness in respect of such Debt
Securities or portions thereof will have been satisfied and discharged as contemplated in this Section. 
 If the Company shall
make any deposit of money and/or Eligible Obligations with respect to any Debt Securities, or any portion of the principal amount thereof, as contemplated by this section, the Company shall not deliver an Officer’s Certificate described in
clause (z) above unless the Company shall also deliver to the Trustee, together with such Officer’s Certificate, an Opinion of Counsel to the effect that, as a result of a change in law occurring after the date of this Indenture, the
Holders of such Debt Securities, or portions thereof, will not recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will
be subject to United States federal income tax on the same amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 37 

 Upon the deposit of money or Eligible Obligations, or both, in accordance with this Section,
together with the documents required by clauses (x), (y) and (z) above, the Trustee shall, upon receipt of a Company Request, acknowledge in writing that the Debt Security or Debt Securities or portions thereof with respect to which such
deposit was made are deemed to have been paid for all purposes of this Indenture and that the entire indebtedness of the Company in respect thereof has been satisfied and discharged as contemplated in this Section. In the event that all of the
conditions set forth in the first paragraph of this Section shall have been satisfied in respect of any Debt Securities or portions thereof except that, for any reason, the Officer’s Certificate specified in clause (z) shall not have
been delivered, such Debt Securities or portions thereof shall nevertheless be deemed to have been paid for all purposes of this Indenture, and the Holders of such Debt Securities or portions thereof shall nevertheless be no longer entitled to the
benefits of this Indenture or of any of the covenants of the Company under Article VI (except the covenants contained in Sections 6.02 and 6.03) or any other covenants made in respect of such Debt Securities or portions
thereof as contemplated by Section 3.01, but the indebtedness of the Company in respect of such Debt Securities or portions thereof shall not be deemed to have been satisfied and discharged prior to Maturity for any other purpose, and
the Holders of such Debt Securities or portions thereof shall continue to be entitled to look to the Company for payment of the indebtedness represented thereby; and, upon receipt of a Company Request, the Trustee shall acknowledge in writing that
such Debt Securities or portions thereof are deemed to have been paid for all purposes of this Indenture. 
 If payment at
Stated Maturity of less than all of the Debt Securities of any series, or any Tranche thereof, is to be provided for in the manner and with the effect provided in this Section, the Trustee shall select such Debt Securities, or portions of principal
amount thereof, in the manner specified by Section 4.03 for selection for redemption of less than all the Debt Securities of a series or Tranche. 
 In the event that Debt Securities that shall be deemed to have been paid for purposes of this Indenture, and, if such is the case, in respect of which the Company’s indebtedness shall have been
satisfied and discharged, all as provided in this Section, do not mature and are not to be redeemed within the 60-day period commencing with the date of the deposit of moneys or Eligible Obligations, as aforesaid, the Company shall, as promptly as
practicable, give a notice, in the same manner as a notice of redemption with respect to such Debt Securities, to the Holders of such Debt Securities to the effect that such deposit has been made and the effect thereof. 

Notwithstanding that any Debt Securities shall be deemed to have been paid for purposes of this Indenture, as aforesaid, the obligations
of the Company and the Trustee in respect of such Debt Securities under Sections 3.04, 3.05, 3.06, 4.04, 5.03 (as to notice of redemption), 6.02, 6.03, 9.07, 9.14 and 9.15 and
this Article shall survive. 
 The Company shall pay, and shall indemnify the Trustee or any Paying Agent with which
Eligible Obligations shall have been deposited as provided in this Section against any tax, fee or other charge imposed on or assessed against such Eligible Obligations or the principal or interest received in respect of such Eligible
Obligations, including, but not limited to, any such tax payable by any entity deemed, for tax purposes, to have been created as a result of such deposit. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 38 

 Anything herein to the contrary notwithstanding, (a) if, at any time after a Debt
Security would be deemed to have been paid for purposes of this Indenture, and, if such is the case, the Company’s indebtedness in respect thereof would be deemed to have been satisfied or discharged, pursuant to this Section (without
regard to the provisions of this paragraph), the Trustee or any Paying Agent, as the case may be, shall be required to return the money or Eligible Obligations, or combination thereof, deposited with it as aforesaid to the Company or its
representative under any applicable federal or state bankruptcy, insolvency or other similar law, such Debt Security shall thereupon be deemed retroactively not to have been paid and any satisfaction and discharge of the Company’s indebtedness
in respect thereof shall retroactively be deemed not to have been effected, and such Debt Security shall be deemed to remain Outstanding and (b) any satisfaction and discharge of the Company’s indebtedness in respect of any Debt Security
shall be subject to the provisions of the last paragraph of Section 6.03. 
 Section 7.02. Satisfaction and Discharge of
Indenture. 
 This Indenture shall upon Company Request cease to be of further effect (except as hereinafter expressly
provided), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (a) no Debt Securities remain Outstanding hereunder; and 
 (b) the Company has
paid or caused to be paid all other sums payable hereunder by the Company; 
 provided, however, that if, in accordance with the
last paragraph of Section 7.01, any Debt Security, previously deemed to have been paid for purposes of this Indenture, shall be deemed retroactively not to have been so paid, this Indenture shall thereupon be deemed retroactively not to
have been satisfied and discharged, as aforesaid, and to remain in full force and effect, and the Company shall execute and deliver such instruments as the Trustee shall reasonably request to evidence and acknowledge the same. 

Notwithstanding the satisfaction and discharge of this Indenture as aforesaid, the obligations of the Company and the Trustee under
Sections 3.04, 3.05, 3.06, 4.04, 5.03 (as to notice of redemption), 6.02, 6.03, 9.07, 9.14 and 9.15 and this Article shall survive. 

Upon satisfaction and discharge of this Indenture as provided in this Section, the Trustee shall assign, transfer and turn over to the
Company, subject to the lien provided by Section 9.07, any and all money, securities and other property then held by the Trustee for the benefit of the Holders of the Debt Securities other than money and Eligible Obligations held by the
Trustee pursuant to Section 7.03. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 39 

 Section 7.03. Application of Trust Money. 

Neither the Eligible Obligations nor the money deposited pursuant to Section 7.01, nor the principal or interest payments on
any such Eligible Obligations, shall be withdrawn or used for any purpose other than, and shall be held in trust for, the payment of the principal of, and premium, if any, and interest (including Additional Interest), if any, on, the Debt Securities
or portions of principal amount thereof in respect of which such deposit was made, all subject, however, to the provisions of Section 6.03; provided, however, that, so long as there shall not have occurred and be continuing
an Event of Default, or an event that, with the giving of notice or the passage of time, would become an Event of Default, any cash received from such principal or interest payments on such Eligible Obligations, if not then needed for such purpose,
shall, to the extent practicable, be invested in Eligible Obligations of the type described in Section 7.01(b) maturing at such times and in such amounts as shall be sufficient to pay when due the principal of and premium, if any, and
interest (including Additional Interest), if any, due and to become due on such Debt Securities or portions thereof on and prior to the Maturity thereof, and interest earned from such reinvestment shall be paid over to the Company as received, free
and clear of any trust, lien or pledge under this Indenture except the lien provided by Section 9.07; and provided, further, that, so long as there shall not have occurred and be continuing an Event of Default, or an event
that, with the giving of notice or the passage of time, would become an Event of Default, any moneys held in accordance with this Section on the Maturity of all such Debt Securities in excess of the amount required to pay the principal of and
premium, if any, and interest (including Additional Interest), if any, then due on such Debt Securities shall be paid over to the Company free and clear of any trust, lien or pledge under this Indenture except the lien provided by
Section 9.07; and provided, further, that if an Event of Default, or an event that, with the giving of notice or the passage of time, would become an Event of Default, shall have occurred and be continuing, moneys to be
paid over to the Company pursuant to this Section shall be held until such Event of Default, or event that, with the giving of notice or the passage of time, would become an Event of Default, shall have been waived or cured. 

ARTICLE VIII 
 EVENTS OF DEFAULT; REMEDIES 
 Section 8.01. Events of Default. 

“Event of Default,” wherever used herein with respect to Debt Securities of any series, means any one of the following
events: 
 (a) failure to pay interest (including Additional Interest), if any, on any Debt Security of such series within 30
days after the same becomes due and payable [(whether or not payment is prohibited by the provisions of Article XV hereof);]* [provided, however, that a valid extension of the interest payment period by the Company as
contemplated in Section 3.12 of this Indenture shall not constitute a failure to pay interest for this purpose] *; or 

(b) failure to pay the principal of or premium, if any, on any Debt Security of such series when due and payable under this Indenture
[(whether or not payment is prohibited by the provisions of Article XV hereof)] *; or 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 40 

 (c) failure to make any sinking fund payment with respect to such series when due; or

 (d) failure to perform or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or
warranty a default in the performance of which or breach of which is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of one or more series of Debt Securities other
than such series) for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee, or to the Company and the Trustee by the Holders of at least 33% in principal amount of the Outstanding Debt
Securities of such series, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder, unless the Trustee, or the Trustee and the Holders of a
principal amount of Debt Securities of such series not less than the principal amount of Debt Securities the Holders of which gave such notice, as the case may be, shall agree in writing to an extension of such period prior to its expiration;
provided, however, that the Trustee, or the Trustee and the Holders of such principal amount of Debt Securities of such series, as the case may be, shall be deemed to have agreed to an extension of such period for a maximum of one
hundred twenty (120) days if corrective action is initiated by the Company within such period and is being diligently pursued; or 
 (e) the entry by a court having jurisdiction in the premises of (1) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable federal or state
bankruptcy, insolvency, reorganization or other similar law or (2) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition by one or more Persons other than the Company seeking reorganization,
arrangement, adjustment or composition of or in respect of the Company under any applicable federal or state law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official for the Company or for any
substantial part of its property, or ordering the winding up or liquidation of its affairs, and any such decree or order for relief or any such other decree or order shall have remained unstayed and in effect for a period of 90 consecutive days; or

 (f) the commencement by the Company of a voluntary case or proceeding under any applicable federal or state bankruptcy,
insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in a case or proceeding under
any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking
reorganization or relief under any applicable federal or state law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar
official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the
authorization of such action by the Board of Trustees; or 
 (g) any other Event of Default specified with respect to Debt
Securities of such series. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 41 

 Section 8.02. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default due to the default in payment of principal of, or premium, if any, or interest (including Additional Interest) on,
any series of Debt Securities or due to the default in the performance or breach of any other covenant or warranty of the Company applicable to the Debt Securities of such series but not applicable to all Outstanding Debt Securities shall have
occurred and be continuing, either the Trustee or the Holders of not less than 33% in principal amount of the Debt Securities of such series may then declare the principal amount (or, if any of the Debt Securities of such series are Discount Debt
Securities, such portion of the principal amount as may be specified in the terms thereof as contemplated by Section 3.01) of all Debt Securities of such series and premium, if any, and interest (including Additional Interest) accrued
thereon to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders). If an Event of Default due to default in the performance of any other of the covenants or warranties herein applicable to
all Outstanding Debt Securities or an Event of Default specified in Sections 8.01(e) or (f) shall have occurred and be continuing, either the Trustee or the Holders of not less than 33% in principal amount of all Debt
Securities then Outstanding (considered as one class), and not the Holders of the Debt Securities of any one of such series, may declare the principal amount (or, if any of the Debt Securities are Discount Debt Securities, such portion of the
principal amount of such Debt Securities as may be specified in the terms thereof as contemplated by Section 3.01) of all Debt Securities and premium, if any, and interest accrued thereon to be due and payable immediately, by a notice in
writing to the Company (and to the Trustee if given by the Holders). As a consequence of each such declaration (herein referred to as a declaration of acceleration) with respect to Debt Securities of any series, the principal amount (or portion
thereof in the case of Discount Debt Securities) of such Debt Securities, premium, if any, and interest (including Additional Interest) accrued thereon shall become due and payable immediately [(provided that the payment of principal of such Debt
Securities shall remain subordinated to the extent provided in Article XV hereof)] *. 
 With respect to a series of
Debt Securities to which a credit enhancement is applicable, the applicable supplemental indenture may provide that the provider of such credit enhancement may, if default has occurred and is continuing with respect to such series, and subject to
certain conditions, have all the rights with respect to remedies that would otherwise have been exercisable by the Holders of Debt Securities of that series. 
 At any time after such a declaration of acceleration with respect to Debt Securities of any series shall have been made and before a judgment or decree for payment of the money due shall have been
obtained by the Trustee as hereinafter in this Article provided, the Event or Events of Default giving rise to such declaration of acceleration shall, without further act, be deemed to have been waived, and such declaration and its consequences
shall, without further act, be deemed to have been rescinded and annulled, if 
 (a) the Company shall have paid or deposited
with the Trustee a sum sufficient to pay 
 (1) all overdue interest on all Debt Securities of such series;

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 42 

 (2) the principal of and premium, if any, on any Debt Securities of such
series that have become due otherwise than by such declaration of acceleration and interest (including Additional Interest) thereon at the rate or rates prescribed therefor in such Debt Securities; 

(3) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed
therefor in such Debt Securities; 
 (4) all amounts due to the Trustee under Section 9.07; and

 (b) any other Event or Events of Default with respect to Debt Securities of such series, other than the non-payment of the
principal of Debt Securities of such series that shall have become due solely by reason of such declaration of acceleration, shall have been cured or waived as provided in Section 8.13. 

No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 

Section 8.03. Collection of Indebtedness and Suits for Enforcement by Trustee. 

If an Event of Default described in clause (a), (b) or (c) of Section 8.01 shall have occurred and be continuing,
the Company shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of the Debt Securities of the series with respect to which such Event of Default shall have occurred, the whole amount then due and payable on such Debt
Securities for principal and premium, if any, and interest, if any, and, to the extent permitted by law, (i) interest on premium, if any, (ii) interest on any overdue principal and (iii) Additional Interest, at the rate or rates
prescribed therefor in such Debt Securities, and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to the Trustee under Section 9.07. 

If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express
trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Debt Securities and
collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Debt Securities, wherever situated. 

If an Event of Default with respect to Debt Securities of any series shall have occurred and be continuing, the Trustee may in its
discretion proceed to protect and enforce its rights and the rights of the Holders of Debt Securities of such series under the Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any
such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 43 

 Section 8.04. Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Debt Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Debt Securities
shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest (including Additional Interest))
shall be entitled and empowered, by intervention in such proceeding or otherwise, 
 (a) to file and prove a claim for the whole
amount of principal, premium, if any, and interest (including Additional Interest), if any, owing and unpaid in respect of the Debt Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for amounts due to the Trustee under Section 9.07) and of the Holders allowed in such judicial proceeding, and 
 (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same, 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee
and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amounts due it under Section 9.07. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Debt Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 8.05. Trustee May Enforce Claims without Possession of Debt Securities. 

All rights of action and claims under this Indenture or the Debt Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Debt Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment
shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which such judgment has been recovered.

 Section 8.06. Application of Money Collected. 
 [Subject to the provisions of Article XV,]* any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal or premium, if any, or interest (including Additional Interest), if any, upon presentation of the Debt Securities in respect of which or for the benefit of which such money shall
have been collected and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

FIRST: To the payment of all amounts due the Trustee under Section 9.07; 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 SECOND: To the payment of the amounts then due and unpaid upon the Debt Securities for
principal of and premium, if any, and interest (including Additional Interest), if any, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due
and payable on such Debt Securities for principal, premium, if any, and interest (including Additional Interest), if any, respectively; and 
 THIRD: To the payment of the remainder, if any, to the Company, or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 

Section 8.07. Limitation on Suits. 
 No Holder shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder,
unless: 
 (a) such Holder shall have previously given written notice to the Trustee of a continuing Event of Default with
respect to the Debt Securities of such series; 
 (b) the Holders of not less than a majority in aggregate principal amount of
the Outstanding Debt Securities of all series in respect of which an Event of Default shall have occurred and be continuing, considered as one class, shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default in its own name as Trustee hereunder; 
 (c) such Holder or Holders shall have offered to the Trustee reasonable
indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (d) the Trustee for 60
days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such proceeding; and 

(e) no direction inconsistent with such written request shall have been given to the Trustee during such 60-day period by the Holders of
a majority in aggregate principal amount of the Outstanding Debt Securities of all series in respect of which an Event of Default shall have occurred and be continuing, considered as one class; 

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

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 Section 8.08. Unconditional Right of Holders to Receive Principal, Premium and Interest.

 Notwithstanding any other provision in this Indenture, the Holder of any Debt Security shall have the
right, which is absolute and unconditional, to receive payment of the principal of and premium, if any, and (subject to Section 3.07 [and 3.12] *) interest (including Additional Interest), if any, on such Debt Security on the Stated Maturity or Maturities
expressed in such Debt Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

Section 8.09. Restoration of Rights and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding shall have been discontinued or abandoned for any reason, or shall have
been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, Trustee and such Holder shall be restored severally and respectively to their former positions
hereunder and thereafter all rights and remedies of the Trustee and such Holder shall continue as though no such proceeding had been instituted. 
 Section 8.10. Rights and Remedies Cumulative. 
 Except as
otherwise provided in the last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall,
to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 8.11. Delay or Omission
Not Waiver. 
 No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any
Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from
time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 8.12. Control by
Holders of Debt Securities. 
 If an Event of Default shall have occurred and be continuing in respect of a series of
Debt Securities, the Holders of a majority in principal amount of the Outstanding Debt Securities of such series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the Debt Securities of such series; provided, however, that if an Event of Default shall have occurred and be continuing with respect to more than one series of

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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Debt Securities, the Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of all such series, considered as one class, shall have the right to make such
direction, and not the Holders of the Debt Securities of any one of such series; and provided, further, that 

(a) such direction shall not be in conflict with any rule of law or with this Indenture, and may not involve the Trustee in personal
liability in circumstances where indemnity would not in the Trustee’s reasonable discretion be adequate, and 
 (b) the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 Before
proceeding to exercise any right or power hereunder at the direction of such Holders, the Trustee shall be entitled to receive from such Holders reasonable security or indemnity against the costs, expenses and liabilities that might be incurred by
it in compliance with any such direction. 
 Section 8.13. Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Debt Securities of any series may on behalf of the Holders
of all the Debt Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 
 (a) in the payment of the principal of or premium, if any, or interest (including Additional Interest), if any, on any Debt Security of such series, or 

(b) in respect of a covenant or provision hereof that under Section 12.02 cannot be modified or amended without the consent
of the Holder of each Outstanding Debt Security of such series affected. 
 Upon any such waiver, such default shall cease to
exist, and any and all Events of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 8.14. Undertaking for Costs. 
 The Company and the Trustee agree, and each Holder by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or
remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this
Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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holding in the aggregate more than 10% in aggregate principal amount of the Outstanding Debt Securities of all series in respect of which such suit may be brought, considered as one class, or to
any suit instituted by any Holder for the enforcement of the payment of the principal of or premium, if any, or interest (including Additional Interest), if any, on any Debt Security on or after the Stated Maturity or Maturities expressed in such
Debt Security (or, in the case of redemption, on or after the Redemption Date). 
 Section 8.15. Waiver of Stay or Extension
Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon,
or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company
(to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit
the execution of every such power as though no such law had been enacted. 
 ARTICLE IX 

THE TRUSTEE 

Section 9.01. Certain Duties and Responsibilities. 
 (a) The Trustee shall have and be subject to all the duties and responsibilities specified with respect to an indenture trustee in the Trust Indenture Act, and no implied covenants or obligations shall be
read into this Indenture against the Trustee. 
 (b) The Trustee, prior to the occurrence of an Event of Default and after the
curing or waiving of all Events of Default that may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default of which a Responsible Officer of the Trustee has
knowledge has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of such person’s own affairs. 
 (c) No provision of this Indenture shall be construed to
relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that
may have occurred: 
 (i) the duties and obligations of the Trustee shall be determined solely by the express
provisions of this Indenture, and the Trustee shall not be liable except for the performance of, or failure to perform, such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 (ii) in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such
certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture.

 (d) The Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith, in
accordance with the direction of the Holders of Debt Securities pursuant to Section 8.12, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee, under this Indenture. 
 (e) No provision of this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that it is not reasonably assured
of receiving (i) repayment of such funds or (ii) indemnity, in an amount deemed adequate to the Trustee in its reasonable judgment, against such risk or liability. 
 (f) Notwithstanding anything contained in this Indenture to the contrary, the duties and responsibilities of the Trustee under this Indenture shall be subject to the protections, exculpations and
limitations on liability afforded to the Trustee under the provisions of the Trust Indenture Act, including those provisions of such Act deemed by such Act to be included herein. 

(g) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of
or affording protection to the Trustee shall be subject to the provisions of this Section. 
 Section 9.02. Notice of
Defaults. 
 The Trustee shall give the Holders notice of any default hereunder with respect to the Debt Securities
of any series to the Holders of Debt Securities of such series of which it has knowledge (within the meaning of Section 9.03(h)) in the manner and to the extent required to do so by the Trust Indenture Act, unless such default shall have
been cured or waived; provided, however, that in the case of any default of the character specified in Section 8.01(d), no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the
purpose of this Section, the term “default” means any event that is, or after notice or lapse of time, or both, would become, an Event of Default. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 Section 9.03. Certain Rights of Trustee. 

Subject to the provisions of Section 9.01 and to the applicable provisions of the Trust Indenture Act: 

(a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or
parties; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or
Company Order, or as otherwise expressly provided herein, and any resolution of the Board of Trustees may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee
(unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officer’s Certificate; 
 (d) the Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon; 
 (e) the Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Indenture at the request or direction of any Holder pursuant to this Indenture, unless such Holder shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or direction; 
 (f) the Trustee shall not be bound to
make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or
document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall (subject to
applicable legal requirements) be entitled to examine, during normal business hours, the books, records and premises of the Company, personally or by agent or attorney; 
 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any
misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; and 
 (h) the Trustee
shall not be charged with knowledge of any default or Event of Default with respect to the Debt Securities of any series for which it is acting as Trustee unless 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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either (1) a Responsible Officer of the Trustee shall have knowledge of the default or Event of Default or (2) written notice of such default or Event of Default shall have been given
to the Trustee by the Company, any other obligor on such Debt Securities or by any Holder of such Debt Securities. 
 Section 9.04. Not
Responsible for Recitals or Issuance of Debt Securities. 
 The recitals contained herein and in the Debt Securities
(except the Trustee’s certificates of authentication) shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes responsibility for their correctness. The Trustee makes no representations as to
the validity or sufficiency of this Indenture or of the Debt Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Debt Securities or the proceeds thereof. The Trustee shall
not incur any liability for non-performance or breach of any obligation hereunder to the extent that the Trustee is delayed in performing, unable to perform or breaches such obligation because of acts of God, war, terrorism, fire, floods, electrical
outages or other causes reasonably beyond its control; provided, however, that the Trustee shall use commercially reasonable efforts consistent with accepted practices for corporate trustees to maintain performance without delay or resume
performance as soon as reasonably practicable under the circumstances. 
 Section 9.05. May Hold Debt Securities.

 Each of the Trustee, any Authenticating Agent, any Paying Agent, any Debt Security Registrar or any other agent of the
Company, in its individual or any other capacity, may become the owner or pledgee of Debt Securities and, subject to Sections 9.08 and 9.13, may otherwise deal with the Company with the same rights it would have if it were not the
Trustee, Authenticating Agent, Paying Agent, Debt Security Registrar or such other agent. 
 Section 9.06. Money Held in
Trust. 
 Money held by the Trustee in trust hereunder need not be segregated from other funds, except to the extent
required by law. The Trustee shall be under no liability for interest on investment of any money received by it hereunder except as expressly provided herein or otherwise agreed with, and for the sole benefit of, the Company. 

Section 9.07. Compensation and Reimbursement. 
 The Company shall: 
 (a) pay to the Trustee from time to time reasonable
compensation for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(b) except as otherwise expressly provided herein, reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances reasonably incurred or made by the Trustee in accordance with any provision of this Indenture, including the costs of collection 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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(including the reasonable compensation and the expenses and disbursements of its agents and counsel), except to the extent that any such expense, disbursement or advance may be attributable to
its negligence, willful misconduct or bad faith; and 
 (c) indemnify the Trustee and hold it harmless from and against any and
all losses, demands, claims, liabilities, causes of action or expenses (including reasonable attorneys’ fees and expenses) incurred by it arising out of or in connection with the acceptance or administration of the trust or trusts hereunder or
the performance of its duties hereunder, including the reasonable costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent any
such loss, demand, claim, liability, cause of action or expense may be attributable to its negligence, willful misconduct or bad faith and may assume the defense of the Trustee with counsel acceptable to the Trustee, unless the Trustee shall have
been advised by counsel that there may be one or more legal defenses available to it that are different from or additional to those available to the Company, in which case the Trustee may engage separate counsel, and the fees and expenses of such
counsel shall be assumed by the Company. 
 As security for the performance of the obligations of the Company under this
Section, the Trustee shall have a lien prior to the Debt Securities upon all property and funds held or collected by the Trustee as such other than property and funds held in trust for the payment of principal, premium, if any, and interest on Debt
Securities. “Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the
rights of any other Trustee hereunder. When a Trustee incurs expenses or renders services in connection with an Event of Default specified in Sections 8.01(e) or (f), the expenses (including the reasonable charges and expenses of
its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law. The provisions of this Section shall survive termination
of this Indenture and the resignation or removal of the Trustee. 
 Section 9.08. Disqualification; Conflicting Interests.

 If the Trustee shall have or acquire any conflicting interest within the meaning of the Trust Indenture Act, it shall either
eliminate such conflicting interest or resign to the extent, in the manner and with the effect, and subject to the conditions, provided in the Trust Indenture Act and this Indenture. For purposes of Section 310(b)(1) of the Trust Indenture Act
and to the extent permitted thereby, the Trustee shall not be deemed to have a conflicting interest by virtue of being a Trustee under (i) this Indenture with respect to Debt Securities of one or more series or (ii) any other indenture to
which the Trustee and the Company are a party, if any, or with respect to the securities issued thereunder, if any. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 Section 9.09. Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee hereunder which shall be: 
 (a) a corporation organized and doing business under the laws of the United States, any state or territory thereof or the District of Columbia, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority, or 
 (b) if and to the extent permitted by the Commission by rule, regulation or order upon application, a corporation or other Person organized and doing business under the laws of a foreign government,
authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $100,000,000 or the Dollar equivalent of the applicable foreign currency and subject to supervision or examination by authority of such
foreign government or a political subdivision thereof substantially equivalent to supervision or examination applicable to United States institutional trustees, 
 and, in either case, qualified and eligible under this Article and the Trust Indenture Act. If such corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of such supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

Section 9.10. Resignation and Removal; Appointment of Successor. 

(a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become
effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 9.11. 
 (b) The Trustee may resign at any time with respect to the Debt Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee
required by Section 9.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to the Debt Securities of such series. 
 (c) The Trustee may be removed at any time with respect
to the Debt Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series delivered to the Trustee and to the Company. 

(d) If at any time: 
 (1) the Trustee shall fail to comply with Section 9.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder for at least six months, or 

(2) the Trustee shall cease to be eligible under Section 9.09 and shall fail to resign after written request
therefor by the Company or by any such Holder, or 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 (3) the Trustee shall become incapable of acting or shall be adjudged a
bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation,

 then, in any such case, (x) the Company by a Board Resolution may remove the Trustee with respect to all Debt Securities or
(y) subject to Section 8.14, any Holder who has been a bona fide Holder for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee
with respect to all Debt Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall resign,
be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause (other than as contemplated in clause (y) in Subsection (d) of this Section), with respect to the Debt Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the
Debt Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Debt Securities of any particular series) and shall comply with the applicable requirements of Section 9.11.
If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Debt Securities of any series shall be appointed by Act of the Holders of a majority in principal amount
of the Outstanding Debt Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of
Section 9.11, become the successor Trustee with respect to the Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Debt Securities of any
series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 9.11, any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months may,
on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. 

(f) So long as no event that is, or after notice or lapse of time, or both, would become, an Event of Default shall have occurred and be
continuing, and except with respect to a Trustee appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities pursuant to Subsection (e) of this Section, if the Company shall have delivered to the Trustee
(i) a Board Resolution appointing a successor Trustee, effective as of a date specified therein, and (ii) an instrument of acceptance of such appointment, effective as of such date, by such successor Trustee in accordance with
Section 9.11, the Trustee shall be deemed to have resigned as contemplated in Subsection (b) of this Section, the successor Trustee shall be deemed to have been appointed by the Company pursuant to Subsection (e) of this
Section and such appointment shall be deemed to have been accepted as contemplated in Section 9.11, all as of such date, and all other provisions of this Section and Section 9.11 shall be applicable to such
resignation, appointment and acceptance except to the extent inconsistent with this Subsection (f). 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 (g) The Company or, should the Company fail so to act promptly, the successor Trustee, at
the expense of the Company, shall give notice of each resignation and each removal of the Trustee with respect to the Debt Securities of any series and each appointment of a successor Trustee with respect to the Debt Securities of any series by
mailing written notice of such event by first-class mail, postage prepaid, to all Holders of Debt Securities of such series as their names and addresses appear in the Debt Security Register. Each notice shall include the name of the successor
Trustee with respect to the Debt Securities of such series and the address of its corporate trust office. 
 Section 9.11. Acceptance of
Appointment by Successor. 
 (a) In case of the appointment hereunder of a successor Trustee with respect to the Debt
Securities of all series, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
Trustee, such retiring Trustee shall, upon payment of all sums owed to it, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver
to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 (b) In case of the appointment
hereunder of a successor Trustee with respect to the Debt Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Debt Securities of one or more series shall execute and
deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor
Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with
respect to all Debt Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of that or those series as
to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of
the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to
the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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retiring Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee,
such retiring Trustee, upon payment of all sums owed to it, shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Debt Securities of that or those series
to which the appointment of such successor Trustee relates. 
 (c) Upon request of any such successor Trustee, the Company shall
execute any instruments that fully vest in and confirm to such successor Trustee all such rights, powers and trusts referred to in Subsection (a) or (b) of this Section, as the case may be. 

(d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under this Article. 
 Section 9.12. Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Debt Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Debt Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Debt Securities. 
 Section 9.13. Preferential Collection of Claims Against Company.

 If the Trustee shall be or become a creditor of the Company or any other obligor upon the Debt Securities (other than by
reason of a relationship described in Section 311(b) of the Trust Indenture Act), the Trustee shall be subject to any and all applicable provisions of the Trust Indenture Act regarding the collection of claims against the Company or such other
obligor. For purposes of Section 311(b) of the Trust Indenture Act: 
 (a) the term “cash transaction” means any
transaction in which full payment for goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and 

(b) the term “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation that is made, drawn,
negotiated or incurred by the Company for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and that is secured by documents evidencing title to, possession of, or a lien upon,
the goods, wares or merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 56 

 
received by the Trustee simultaneously with the creation of the creditor relationship with the Company arising from the making, drawing, negotiating or incurring of the draft, bill of exchange,
acceptance or obligation. 
 Section 9.14. Co-Trustees and Separate Trustees. 

At any time or times, for the purpose of meeting the legal requirements of any applicable jurisdiction, the Company and the Trustee shall
have power to appoint, and, upon the written request of the Trustee or of the Holders of at least 33% in principal amount of the Debt Securities then Outstanding, the Company shall for such purpose join with the Trustee in the execution and delivery
of all instruments and agreements necessary or proper to appoint, one or more Persons approved by the Trustee either to act as co-trustee, jointly with the Trustee, or to act as separate trustee, in either case with such powers as may be provided in
the instrument of appointment, and to vest in such Person or Persons, in the capacity aforesaid, any property, title, right or power deemed necessary or desirable, subject to the other provisions of this Section. If the Company does not join in such
appointment within 15 days after the receipt by it of a request so to do, or if an Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make such appointment. 

Should any written instrument or instruments from the Company be required by any co-trustee or separate trustee so appointed to more
fully confirm to such co-trustee or separate trustee such property, title, right or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Company. 

Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent only, be appointed subject to the
following conditions: 
 (a) the Debt Securities shall be authenticated and delivered, and all rights, powers, duties and
obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or pledged with, the Trustee hereunder, shall be exercised solely, by the Trustee; 

(b) the rights, powers, duties and obligations hereby conferred or imposed upon the Trustee in respect of any property covered by such
appointment shall be conferred or imposed upon and exercised or performed either by the Trustee or by the Trustee and such co-trustee or separate trustee jointly, as shall be provided in the instrument appointing such co-trustee or separate trustee,
except to the extent that under any law of any jurisdiction in which any particular act is to be performed, the Trustee shall be incompetent or unqualified to perform such act, in which event such rights, powers, duties and obligations shall be
exercised and performed by such co-trustee or separate trustee; 
 (c) the Trustee at any time, by an instrument in writing
executed by it, with the concurrence of the Company, may accept the resignation of or remove any co-trustee or separate trustee appointed under this Section, and, if an Event of Default shall have occurred and be continuing, the Trustee shall have
power to accept the resignation of, or remove, any such co-trustee or separate trustee without the concurrence of the Company. Upon the written request of 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 57 

 
the Trustee, the Company shall join with the Trustee in the execution and delivery of all instruments and agreements necessary or proper to effectuate such resignation or removal. A successor to
any co-trustee or separate trustee so resigned or removed may be appointed in the manner provided in this Section; 
 (d) no
co-trustee or separate trustee hereunder shall be personally liable by reason of any act or omission of the Trustee, or any other such trustee hereunder, and the Trustee shall have no liability, personally or in its capacity as Trustee, for any act
or omission of any co-trustee or separate trustee hereunder; and 
 (e) any Act of Holders delivered to the Trustee shall be
deemed to have been delivered to each such co-trustee and separate trustee. 
 Section 9.15. Appointment of Authenticating Agent.

 The Trustee may appoint an Authenticating Agent or Agents with respect to the Debt Securities of one or more series, or any
Tranche thereof, which shall be authorized to act on behalf of the Trustee to authenticate Debt Securities of such series or Tranche issued upon original issuance, exchange, registration of transfer or partial redemption thereof or pursuant to
Section 3.06, and Debt Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this
Indenture to the authentication and delivery of Debt Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating
Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws
of the United States, any state or territory thereof or the District of Columbia or the Commonwealth of Puerto Rico, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and
subject to supervision or examination by federal or state authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 An Authenticating Agent may resign at any time by giving 45 days written notice thereof to
the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent that shall be acceptable to the Company. Any
successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay to
each Authenticating Agent from time to time reasonable compensation for its services under this Section. 
 The provisions of
Sections 3.08, 9.04 and 9.05 shall be applicable to each Authenticating Agent. 
 If an appointment with
respect to the Debt Securities of one or more series, or any Tranche thereof, shall be made pursuant to this Section, the Debt Securities of such series or Tranche may have endorsed thereon, in addition to the Trustee’s certificate of
authentication, an alternate certificate of authentication substantially in the following form: 
 This is one of the Debt
Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

					
	Date:	 	By:	 	  

		 		 	As Trustee
			
		 	By:	 	  

		 		 	As Authenticating Agent
			
		 	By:	 	  

		 		 	Authorized Signatory

 If all of the Debt
Securities of a series may not be originally issued at one time, and if the Trustee does not have an office capable of authenticating Debt Securities upon original issuance located in a Place of Payment where the Company wishes to have Debt
Securities of such series authenticated upon original issuance, the Trustee, if so requested by the Company in writing (which writing need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel), shall appoint,
in accordance with this Section and in accordance with such procedures as shall be acceptable to the Trustee, an Authenticating Agent having an office in a Place of Payment designated by the Company with respect to such series of Debt
Securities. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 59 

 ARTICLE X 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 Section 10.01. Lists of
Holders. 
 Semiannually, not later than
                     and
                     in each year, commencing with the year 20    , and at such other times as the Trustee may
request in writing, the Company shall furnish or cause to be furnished to the Trustee information as to the names and addresses of the Holders, and the Trustee shall preserve such information and similar information received by it in any other
capacity and afford to the Holders access to information so preserved by it, all to such extent, if any, and in such manner as shall be required by the Trust Indenture Act; provided, however, that no such list need be furnished so long
as the Trustee shall be the Debt Security Registrar. Every holder of Debt Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held
accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Debt Securities in accordance with Section 312 of the Trust Indenture Act, or any successor Section of such Act, regardless of
the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act, or any successor
Section of such Act. 
 Section 10.02. Reports by Trustee and Company. 

Annually, not later than
                     in each year, commencing
                    , the Trustee shall transmit to the Holders, the Commission and each securities exchange upon which any Debt Securities
are listed, a report, dated as of the next preceding                     , with respect to any events and other matters described in
Section 313(a) of the Trust Indenture Act, in such manner and to the extent required by the Trust Indenture Act. The Trustee shall transmit to the Holders, the Commission and each securities exchange upon which any Debt Securities are listed,
and the Company shall file with the Trustee (within 30 days after filing with the Commission in the case of reports that pursuant to the Trust Indenture Act must be filed with the Commission and furnished to the Trustee) and transmit to the Holders,
such other information, reports and other documents, if any, at such times and in such manner, as shall be required by the Trust Indenture Act. 
 The Company shall notify the Trustee of the listing of any Debt Securities on any securities exchange. Delivery of such reports, information and documents by the Company to the Trustee is for
informational purposes only, and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of
its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 ARTICLE XI 
 CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER 
 Section 11.01. Company May
Consolidate, Etc., Only on Certain Terms. 
 The Company shall not consolidate with or merge into any other corporation, or
convey or otherwise transfer or lease its properties and assets substantially as an entirety to any Person, unless: 
 (a) the
corporation formed by such consolidation or into which the Company is merged or the Person that acquires by conveyance or transfer, or that leases, the properties and assets of the Company substantially as an entirety shall be a Person organized and
existing under the laws of the United States, any state thereof or the District of Columbia, and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and
punctual payment of the principal of, and premium, if any, and interest (including Additional Interest), if any, on all Outstanding Debt Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or
observed; 
 (b) immediately after giving effect to such transaction and treating any indebtedness for borrowed money that
becomes an obligation of the Company as a result of such transaction as having been incurred by the Company at the time of such transaction, no Event of Default, and no event that, after notice or lapse of time or both, would become an Event of
Default, shall have occurred and be continuing; and 
 (c) the Company shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance or other transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating
to such transactions have been complied with. 
 Section 11.02. Successor Corporation Substituted. 

Upon any consolidation by the Company with or merger by the Company into any other corporation or any conveyance or other transfer or
lease of the properties and assets of the Company substantially as an entirety in accordance with Section 11.01, the successor corporation formed by such consolidation or into which the Company is merged or the Person to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and
thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Debt Securities Outstanding hereunder. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 ARTICLE XII 
 SUPPLEMENTAL INDENTURES 
 Section 12.01. Supplemental Indentures Without Consent of
Holders. 
 Without the consent of any Holders, the Company and the Trustee, at any time and from time to time, may enter
into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (a)
to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company herein and in the Debt Securities, all as provided in Article XI; or 

(b) to add one or more covenants of the Company or other provisions for the benefit of all Holders or for the benefit of the Holders of,
or to remain in effect only so long as there shall be Outstanding, Debt Securities of one or more specified series, or one or more specified Tranches thereof, or to surrender any right or power herein conferred upon the Company; or 

(c) to add any additional Events of Default with respect to all or any series of Debt Securities Outstanding hereunder; or 

(d) to change or eliminate any provision of this Indenture or to add any new provision to this Indenture; provided, however, that
if such change, elimination or addition shall adversely affect the interests of the Holders of Debt Securities of any series or Tranche Outstanding on the date of such indenture supplemental hereto in any material respect, such change, elimination
or addition shall become effective with respect to such series or Tranche only pursuant to the provisions of Section 12.02 hereof or when no Debt Security of such series or Tranche remains Outstanding; or 

(e) to provide collateral security for the Debt Securities of any series or Tranche; or 

(f) to establish the form or terms of Debt Securities of any series or Tranche as contemplated by Sections 2.01 and 3.01;
or 
 (g) to provide for the authentication and delivery of bearer securities and coupons appertaining thereto representing
interest, if any, thereon and for the procedures for the registration, exchange and replacement thereof and for the giving of notice to, and the solicitation of the vote or consent of, the holders thereof, and for any and all other matters
incidental thereto; or 
 (h) to evidence and provide for the acceptance of appointment hereunder by a separate or successor
Trustee with respect to the Debt Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 9.11(b); or 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 (i) to provide for the procedures required to permit the Company to utilize, at its option,
a non-certificated system of registration for all, or any series or Tranche of, the Debt Securities; or to provide for the authentication and delivery of bearer securities and coupons appertaining thereto representing interest, if any, thereon and
for the procedures for the registration, exchange and replacement thereof and for the giving of notice to, and the solicitation of the vote or consent of, the holders thereof, and for any and all other matters incidental thereto; or 

(j) to change any place or places where (1) the principal of and premium, if any, and interest (including Additional Interest), if
any, on all or any series of Debt Securities, or any Tranche thereof, shall be payable, (2) all or any series of Debt Securities, or any Tranche thereof, may be surrendered for registration of transfer, (3) all or any series of Debt
Securities, or any Tranche thereof, may be surrendered for exchange and (4) notices and demands to or upon the Company in respect of all or any series of Debt Securities, or any Tranche thereof, and this Indenture may be served; or 

(k) to cure any ambiguity or to correct or supplement any provision herein that may be defective or inconsistent with any other provision
herein; provided that no such changes or additions shall adversely affect the interests of the Holders of Debt Securities of any series or Tranche in any material respect. 
 Without limiting the generality of the foregoing, if the Trust Indenture Act as in effect at the date of the execution and delivery of this Indenture or at any time thereafter shall be amended and:

 (x) if any such amendment shall require one or more changes to any provisions hereof or the inclusion herein of any
additional provisions, or shall by operation of law be deemed to effect such changes or incorporate such provisions by reference or otherwise, this Indenture shall be deemed to have been amended so as to conform to such amendment to the Trust
Indenture Act, and the Company and the Trustee may, without the consent of any Holders, enter into an indenture supplemental hereto to effect or evidence such changes or additional provisions; or 

(y) if any such amendment shall permit one or more changes to, or the elimination of, any provisions hereof that, at the date of the
execution and delivery hereof or at any time thereafter, are required by the Trust Indenture Act to be contained herein, this Indenture shall be deemed to have been amended to effect such changes or elimination, and the Company and the Trustee may,
without the consent of any Holders, enter into an indenture supplemental hereto to evidence such amendment hereof, provided such amendment does not have a material adverse effect on any Holders. 

Section 12.02. Supplemental Indentures With Consent of Holders. 
 With the consent of the Holders of not less than a majority in aggregate principal amount of the Debt Securities of all series then Outstanding under this Indenture, considered as one class, by Act of
said Holders delivered to the Company and the Trustee, the Company, when 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 63 

 
authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to, or changing in any manner or
eliminating any of the provisions of, this Indenture; provided, however, that if there shall be Debt Securities of more than one series Outstanding hereunder and if a proposed supplemental indenture shall directly affect the rights of the
Holders of Debt Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of all series so directly affected, considered as one
class, shall be required; and provided, further, that if the Debt Securities of any series shall have been issued in more than one Tranche and if the proposed supplemental indenture shall directly affect the rights of the Holders of Debt
Securities of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of all Tranches so directly affected, considered as one class, shall
be required; and provided, further, that no such supplemental indenture shall: 
 (a) change the Stated Maturity of the
principal of, or any installment of principal of or interest (including Additional Interest) on [(except as provided in Section 3.12)]* any Debt Security, or reduce the principal amount thereof or the rate of interest thereon (or the
amount of any installment of interest thereon) or change the method of calculating such rate or reduce any premium payable upon the redemption thereof, or reduce the amount of the principal of a Discount Debt Security that would be due and payable
upon a declaration of acceleration of the Maturity thereof pursuant to Section 8.02, or change the coin or currency (or other property) in which any Debt Security or any premium or the interest (including Additional Interest) thereon is
payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity of any Debt Security (or, in the case of redemption, on or after the Redemption Date), without, in any such case, the consent of
the Holder of such Debt Security, or 
 (b) reduce the percentage in principal amount of the Outstanding Debt Securities of any
series or any Tranche thereof, the consent of the Holders of which is required for any such supplemental indenture, or the consent of the Holders of which is required for any waiver of compliance with any provision of this Indenture or of any
default hereunder and its consequences, or reduce the requirements of Section 13.04 for quorum or voting, without, in any such case, the consent of the Holders of each Outstanding Debt Security of such series or Tranche, or 

(c) modify any of the provisions of this Section, Section 6.06 or Section 8.13 with respect to the Debt
Securities of any series, or any Tranche thereof (except to increase the percentages in principal amount referred to in this Section or such other Sections or to provide that other provisions of this Indenture cannot be modified or waived
without the consent of the Holder of each Outstanding Debt Security affected thereby); provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the
Trustee” and concomitant changes in this Section, or the deletion of this proviso, in accordance with the requirements of Sections 9.11(b), 9.14 and 12.01(h). 

A supplemental indenture that changes or eliminates any covenant or other provision of this Indenture that has expressly been included
solely for the benefit of one or more particular 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 64 

 
series of Debt Securities, or of one or more Tranches thereof, or that modifies the rights of the Holders of Debt Securities of such series or Tranches with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of Debt Securities of any other series or Tranche. 
 Upon the request of the Company, accompanied by a copy of the Board Resolution authorizing the execution of any such supplemental indenture, compliance by the Company with Section 12.03
hereof, and the filing with the Trustee of evidence of the consent of the Holders of the Debt Securities required hereunder with respect to the proposed supplemental indenture, the Trustee shall join with the Company in the execution of such
supplemental indenture unless the supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture, or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such
supplemental indenture. 
 It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. A waiver by a Holder of such Holder’s right to consent under this Section shall be deemed to be a consent of such
Holder. 
 Section 12.03. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall be provided and (subject to Section 9.01) shall be fully protected in relying upon an Officer’s Certificate and Opinion of Counsel, each stating that
the execution of such supplemental indenture is authorized or permitted by this Indenture. 
 Section 12.04. Effect of Supplemental
Indentures. 
 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in
accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Debt Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. Any supplemental
indenture permitted by this Article may restate this Indenture in its entirety, and, upon the execution and delivery thereof, any such restatement shall supersede this Indenture as theretofore in effect for all purposes. 

Section 12.05. Conformity With Trust Indenture Act. 
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 
 Section 12.06. Reference in Debt Securities to Supplemental Indentures. 
 Debt Securities of any series, or any Tranche thereof, authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 65 

 
the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Debt Securities of any series, or
any Tranche thereof, so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding
Debt Securities of such series or Tranche. 
 Section 12.07. Modification without Supplemental Indenture. 

If the terms of any particular series of Debt Securities shall have been established in a Board Resolution or an Officer’s
Certificate pursuant to a Board Resolution as contemplated by Section 3.01, and not in an indenture supplemental hereto, additions to, changes in or the elimination of any of such terms may be effected by means of a supplemental Board
Resolution or Officer’s Certificate, as the case may be, delivered to, and accepted by, the Trustee; provided, however, that such supplemental Board Resolution or Officer’s Certificate shall not be accepted by the Trustee or
otherwise be effective unless all conditions set forth in this Indenture that would be required to be satisfied if such additions, changes or elimination were contained in a supplemental indenture shall have been appropriately satisfied. Upon the
acceptance thereof by the Trustee, any such supplemental Board Resolution or Officer’s Certificate shall be deemed to be a “supplemental indenture” for purposes of Sections 12.04 and 12.06. 

ARTICLE XIII 
 MEETINGS OF HOLDERS; ACTION WITHOUT MEETING 
 Section 13.01. Purposes for which
Meetings may be Called. 
 A meeting of Holders of Debt Securities of one or more, or all, series, or any Tranche or
Tranches thereof, may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given
or taken by Holders of Debt Securities of such series or Tranches. 
 Section 13.02. Call, Notice and Place of Meetings. 

(a) The Trustee may at any time call a meeting of Holders of Debt Securities of one or more, or all, series, or any Tranche or Tranches
thereof, for any purpose specified in Section 13.01, to be held at such time and at such place in the Borough of Manhattan, The City of New York, as the Trustee shall determine, or, with the approval of the Company, at any other place.
Notice of every such meeting, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 1.06, not less than 21 nor more
than 180 days prior to the date fixed for the meeting. 
 (b) If the Trustee shall have been requested to call a meeting of the
Holders of Debt Securities of one or more, or all, series, or any Tranche or Tranches thereof, by the Company or by the Holders of at least 33% in aggregate principal amount of all of such series and Tranches,

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 66 

 
considered as one class, for any purpose specified in Section 13.01, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the
Trustee shall not have given the notice of such meeting within 21 days after receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Debt Securities of such
series and Tranches in the amount above specified, as the case may be, may determine the time and the place in the Borough of Manhattan, The City of New York, or in such other place as shall be determined or approved by the Company, for such meeting
and may call such meeting for such purposes by giving notice thereof as provided in Subsection (a) of this Section. 
 (c)
Any meeting of Holders of Debt Securities of one or more, or all, series, or any Tranche or Tranches thereof, shall be valid without notice if the Holders of all Outstanding Debt Securities of such series or Tranches are present in person or by
proxy and if representatives of the Company and the Trustee are present, or if notice is waived in writing before or after the meeting by the Holders of all Outstanding Debt Securities of such series, or by such of them as are not present at the
meeting in person or by proxy, and by the Company and the Trustee. 
 Section 13.03. Persons Entitled to Vote at Meetings.

 To be entitled to vote at any meeting of Holders of Debt Securities of one or more, or all, series, or any Tranche or
Tranches thereof, a Person shall be (a) a Holder of one or more Outstanding Debt Securities of such series or Tranches, or (b) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Debt
Securities of such series or Tranches by such Holder or Holders. The only Persons who shall be entitled to attend any meeting of Holders of Debt Securities of any series or Tranche shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 
 Section 13.04.
Quorum; Action. 
 The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Debt
Securities of the series and Tranches with respect to which a meeting shall have been called as hereinbefore provided, considered as one class, shall constitute a quorum for a meeting of Holders of Debt Securities of such series and Tranches;
provided, however, that if any action is to be taken at such meeting that this Indenture expressly provides may be taken by the Holders of a specified percentage, which is less than a majority, in principal amount of the Outstanding Debt
Securities of such series and Tranches, considered as one class, the Persons entitled to vote such specified percentage in principal amount of the Outstanding Debt Securities of such series and Tranches, considered as one class, shall constitute a
quorum. In the absence of a quorum within one hour of the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Debt Securities of such series and Tranches, be dissolved. In any other case the meeting may
be adjourned for such period as may be determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for such period as
may be determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Except as provided by Section 13.05(e), notice of the reconvening of any meeting adjourned for

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 67 

 
more than 30 days shall be given as provided in Section 13.02(a) not less than ten days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening
of an adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Debt Securities of such series and Tranches that shall constitute a quorum. 

Except as limited by Section 12.02, any resolution presented to a meeting or adjourned meeting duly reconvened at which a
quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in aggregate principal amount of the Outstanding Debt Securities of the series and Tranches with respect to which such meeting shall have been
called, considered as one class; provided, however, that, except as so limited, any resolution with respect to any action that this Indenture expressly provides may be taken by the Holders of a specified percentage, which is less than a
majority, in principal amount of the Outstanding Debt Securities of such series and Tranches, considered as one class, may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the
affirmative vote of the Holders of such specified percentage in principal amount of the Outstanding Debt Securities of such series and Tranches, considered as one class. 
 Any resolution passed or decision taken at any meeting of Holders of Debt Securities duly held in accordance with this Section shall be binding on all the Holders of Debt Securities of the series and
Tranches with respect to which such meeting shall have been held, whether or not present or represented at the meeting. 
 Section 13.05.
Attendance at Meetings; Determination of Voting Rights; Conduct and Adjournment of Meetings. 
 (a) Attendance at
meetings of Holders of Debt Securities may be in person or by proxy; and, to the extent permitted by law, any such proxy shall remain in effect and be binding upon any future Holder of the Debt Securities with respect to which it was given unless
and until specifically revoked by the Holder or future Holder of such Debt Securities before being voted. 
 (b) Notwithstanding
any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Debt Securities in regard to proof of the holding of such Debt Securities and of the appointment of
proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall
deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Debt Securities shall be proved in the manner specified in Section 1.04 and the appointment of any proxy shall be proved in the manner
specified in Section 1.04. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 1.04 or other proof.

 (c) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall
have been called by the Company or by Holders as provided in Section 13.02(b), in which case the Company or the Holders of Debt Securities of 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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the series and Tranches calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected
by vote of the Persons entitled to vote a majority in aggregate principal amount of the Outstanding Debt Securities of all series and Tranches represented at the meeting, considered as one class. 

(d) At any meeting each Holder or proxy shall be entitled to one vote for each $1 principal amount of Debt Securities held or represented
by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Debt Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall
have no right to vote, except as a Holder of a Debt Security or proxy. 
 (e) Any meeting duly called pursuant to
Section 13.02 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in aggregate principal amount of the Outstanding Debt Securities of all series and Tranches represented at the meeting,
considered as one class; and the meeting may be held as so adjourned without further notice. 
 Section 13.06. Counting Votes and
Recording Action of Meetings. 
 The vote upon any resolution submitted to any meeting of Holders shall be by written
ballots on which shall be subscribed the signatures of the Holders or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Debt Securities, of the series and Tranches with respect to which the meeting
shall have been called, held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the
secretary of the meeting their verified written reports of all votes cast at the meeting. A record of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to said record the
original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided
in Section 13.02 and, if applicable, Section 13.04. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company, and
another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

Section 13.07. Action Without Meeting. 
 In lieu of a vote of Holders at a meeting as hereinbefore contemplated in this Article, any request, demand, authorization, direction, notice, consent, waiver or other action may be made, given or taken
by Holders by written instruments as provided in Section 1.04. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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 ARTICLE XIV 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 
 Section 14.01.
Liability Solely Corporate. 
 No recourse shall be had for the payment of the principal of or premium, if any, or
interest (including Additional Interest), if any, on any Debt Securities, or any part thereof, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or agreement
under this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor
corporation), whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Debt Securities are
solely corporate obligations, and that no personal liability whatsoever shall attach to, or be incurred by, any incorporator, stockholder, officer or director, past, present or future, of the Company or of any predecessor or successor corporation,
either directly or indirectly through the Company or any predecessor or successor corporation, because of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in
any of the Debt Securities or to be implied herefrom or therefrom, and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance
of the Debt Securities. 
 ARTICLE XV 
 [SUBORDINATION OF SECURITIES]* 
 Section 15.01. Securities Subordinate to Senior
Indebtedness. 
 [The Company, for itself, its successors and assigns, covenants and agrees, and each Holder of the Debt
Securities of each series, by its acceptance thereof, likewise covenants and agrees, that the payment of the principal of and premium, if any, and interest, if any, on each and all of the Debt Securities is hereby expressly subordinated, to the
extent and in the manner set forth in this Article, in right of payment to the prior payment in full of all Senior Indebtedness. 
 Each Holder of the Debt Securities of each series, by its acceptance thereof, authorizes and directs the Trustee on its behalf to take such action as may be necessary or appropriate to effectuate the
subordination as provided in this Article, and appoints the Trustee its attorney-in-fact for any and all such purposes. 

Without limiting the generality of the foregoing, nothing contained in this Article shall restrict the right of the Trustee or the
Holders of Debt Securities to take any action to declare the Debt Securities to be due and payable prior to their stated maturity pursuant to Section 8.02 or to pursue any rights or remedies hereunder; provided, however,
that all Senior Indebtedness then due and payable shall first be paid in full before the Holders of the Debt Securities or the Trustee are entitled to receive any direct or indirect payment from the Company of principal of, or premium, if any, or
interest on the Debt Securities. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 70 

 Section 15.02. Payment Over of Proceeds of Securities. 

In the event (a) of any insolvency or bankruptcy proceedings or any receivership, liquidation, reorganization or other similar
proceedings in respect of the Company or a substantial part of its property, or of any proceedings for liquidation, dissolution or other winding up of the Company, whether or not involving insolvency or bankruptcy, whether voluntary or involuntary
or (b) subject to the provisions of Section 15.03, that (i) a default shall have occurred with respect to the payment of principal of or interest on or other monetary amounts due and payable on any Senior Indebtedness, or
(ii) there shall have occurred a default (other than a default in the payment of principal or interest or other monetary amounts due and payable) in respect of any Senior Indebtedness, as defined therein or in the instrument under which the
same is outstanding, permitting the holder or holders thereof to accelerate the maturity thereof (with notice or lapse of time, or both), and such default shall have continued beyond the period of grace, if any, in respect thereof, and, in the cases
of subclauses (i) and (ii) of this clause (b), such default shall not have been cured or waived or shall not have ceased to exist, and, in the case of subclause (ii) of this clause (b), the maturity of such Senior Indebtedness shall
have been accelerated in accordance with the default provisions thereof or (c) that the principal of and accrued interest on the Debt Securities of any series shall have been declared due and payable pursuant to Section 8.01 and
such declaration shall not have been rescinded and annulled as provided in Section 8.02, then: 
 (1)
the holders of all Senior Indebtedness shall first be entitled to receive payment of the full amount due thereon, or provision shall be made for such payment in money or money’s worth, before the Holders of any of the Debt Securities are
entitled to receive a payment on account of the principal of or interest on the indebtedness evidenced by the Debt Securities, including, without limitation, any payments made pursuant to Articles IV and V; 

(2) any payment by, or distribution of assets of, the Company of any kind or character, whether in cash, property or
securities, to which any Holder or the Trustee would be entitled except for the provisions of this Article, shall be paid or delivered by the person making such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating
trustee or otherwise, directly to the holders of such Senior Indebtedness or their representative or representatives or to the trustee or trustees under any indenture under which any instruments evidencing any of such Senior Indebtedness may have
been issued, ratably according to the aggregate amounts remaining unpaid on account of such Senior Indebtedness held or represented by each, to the extent necessary to make payment in full of all Senior Indebtedness remaining unpaid after giving
effect to any concurrent payment or distribution (or provision therefor) to the holders of such Senior Indebtedness, before any payment or distribution is made to the Holder of the indebtedness evidenced by the Debt Securities or to the Trustee
under this Indenture; and 
 (3) in the event that, notwithstanding the foregoing, any payment by, or
distribution of assets of, the Company of any kind or character, whether in cash, property or securities, in respect of principal of or interest on the Debt Securities or in connection 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
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with any repurchase by the Company of the Debt Securities, shall be received by the Trustee or any Holder before all Senior Indebtedness is paid in full to the extent required by
Subsection (1) of this Section 15.02, or provision is made for such payment in money or money’s worth, such payment or distribution in respect of principal of or interest on the Debt Securities or in connection with any
repurchase by the Company of the Debt Securities shall be paid over to the holders of such Senior Indebtedness or their representative or representatives or to the trustee or trustees under any indenture under which any instruments evidencing any
such Senior Indebtedness may have been issued, ratably as aforesaid, for application to the payment of all Senior Indebtedness remaining unpaid until all such Senior Indebtedness shall have been paid in full, after giving effect to any concurrent
payment or distribution (or provision therefor) to the holders of such Senior Indebtedness. 
 Notwithstanding the foregoing, at
any time after the 123rd day following the date of deposit of cash or Eligible Obligations pursuant to Section 7.01 (provided all conditions set out in such Section shall have been satisfied), the funds so deposited and any interest
thereon will not be subject to any rights of holders of Senior Indebtedness, including, without limitation, those arising under this Article; provided that no event described in clauses (e) and (f) of Section 8.01 with respect
to the Company has occurred during such 123-day period. 
 For purposes of this Article only, the words “cash,
property or securities” shall not be deemed to include shares of common stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment that are
subordinate in right of payment to all Senior Indebtedness that may at the time be outstanding to the same extent as, or to a greater extent than, the Debt Securities are so subordinated as provided in this Article. The consolidation of the Company
with, or the merger of the Company into, another corporation or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another corporation upon the terms
and conditions provided for in Article XI hereof shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 15.02 if such other corporation shall, as a part of such
consolidation, merger, conveyance or transfer, comply with the conditions stated in Article XI hereof. Nothing in Section 15.01 or in this Section 15.02 shall apply to claims of, or payments to, the Trustee under
or pursuant to Section 9.07. 
 Section 15.03. Disputes with Holders of Certain Senior Indebtedness. 

Any failure by the Company to make any payment on or perform any other obligation in respect of Senior Indebtedness, other than any
indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any other obligation as to which the provisions of this
Section shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default under clause (b) of
Section 15.02 if (i) the Company shall be disputing its obligation to make such payment or perform such 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 72 

 
obligation and (ii) either (A) no final judgment relating to such dispute shall have been issued against the Company that is in full force and effect and is not subject to further
review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, or (B) in the event that a judgment that is subject to further review or appeal has been issued,
the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay of execution shall have been obtained pending such appeal or review. 
 Section 15.04. Subrogation. 
 Senior Indebtedness shall not be deemed
to have been paid in full unless the holders thereof shall have received cash (or securities or other property satisfactory to such holders) in full payment of such Senior Indebtedness then outstanding. Upon the payment in full of all Senior
Indebtedness, the Holders of the Debt Securities shall be subrogated to the rights of the holders of Senior Indebtedness to receive any further payments or distributions of cash, property or securities of the Company applicable to the holders of the
Senior Indebtedness until all amounts owing on the Debt Securities shall be paid in full; and such payments or distributions of cash, property or securities received by the Holders of the Debt Securities, by reason of such subrogation, which
otherwise would be paid or distributed to the holders of such Senior Indebtedness shall, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders, be deemed to be a payment by the Company to or on account
of Senior Indebtedness, it being understood that the provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders, on the one hand, and the holders of the Senior Indebtedness, on the
other hand. 
 If any payment or distribution to which the Holders of the Debt Securities would otherwise have been entitled but
for the provisions of this Article shall have been applied, pursuant to the provisions of this Article, to the payment of amounts payable under Senior Indebtedness, then and in such case, the Holders of the Debt Securities shall be entitled to
receive from the holders of such Senior Indebtedness any payments or distributions received by such holders of Senior Indebtedness in excess of the amount required to make payment to the extent required by Section 15.02, or provision for
payment, of such Senior Indebtedness. 
 Section 15.05. Unconditional Obligation of the Company. 

Nothing contained in this Article or elsewhere in this Indenture or in the Debt Securities is intended to or shall impair, as among
the Company, its creditors other than the holders of Senior Indebtedness and the Holders, the obligation of the Company, which is absolute and unconditional, to pay to the Holders the principal of and interest on the Debt Securities as and when the
same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders and creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or therein
prevent the Trustee or any Holder from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness in respect of cash,
property or securities of the Company received upon the exercise of any such remedy. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 73 

 Upon any payment or distribution of assets or securities of the Company referred to in this
Article, the Trustee and the Holders shall be entitled to rely upon any order or decree of a court of competent jurisdiction in which such bankruptcy, dissolution, winding up, liquidation or reorganization proceedings are pending or upon a
certificate of the receiver, trustee in bankruptcy, liquidating trustee agent or other person making such payment or distribution delivered to the Trustee or to the Holders for the purpose of ascertaining the persons entitled to participate in such
distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon, and all other facts pertinent thereto or to this Article.

 Section 15.06. Priority of Senior Indebtedness Upon Maturity. 

Upon the maturity of the principal of any Senior Indebtedness by lapse of time, acceleration or otherwise, all matured principal of
Senior Indebtedness and interest and premium, if any, thereon shall first be paid in full before any payment of principal or premium or interest, if any, is made upon the Debt Securities or before any Debt Securities can be acquired by the Company
or any sinking fund payment is made with respect to the Debt Securities (except that required sinking fund payments may be reduced by Debt Securities acquired before such maturity of such Senior Indebtedness). 

Section 15.07. Trustee as Holder of Senior Indebtedness. 
 The Trustee shall be entitled to all rights set forth in this Article with respect to any Senior Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness.
Nothing in this Article shall deprive the Trustee of any of its rights as such holder. 
 Section 15.08. Notice to Trustee to Effectuate
Subordination. 
 The Company shall give prompt written notice to the Trustee of any fact known to the Company that would
prohibit the making of any payment to or by the Trustee in respect of the Debt Securities pursuant to the provisions of this Article. Notwithstanding the provisions of this Article or any other provision of the Indenture, the Trustee shall not
be charged with knowledge of the existence of any facts that would prohibit the making of any payment of moneys to or by the Trustee unless and until the Trustee shall have received written notice thereof from the Company, from a Holder or from a
holder of any Senior Indebtedness or from any representative or representatives of such holder and, prior to the receipt of any such written notice, the Trustee shall be entitled, subject to Section 9.01, in all respects to assume that
no such facts exist; provided, however, that, if prior to the fifth Business Day preceding the date upon which by the terms hereof any such moneys may become payable for any purpose, or in the event of the execution of an instrument pursuant
to Section 7.02 acknowledging satisfaction and discharge of this Indenture, then if prior to the second Business Day preceding the date of such execution, the Trustee shall not have received with respect to such moneys the notice
provided for in this Section, then, anything herein contained to the contrary notwithstanding, the Trustee may, in its discretion, receive such moneys and/or apply the same to the purpose for which they were received, and shall not be affected by
any notice to the contrary, which may be received by it on or after such date; provided, however, that no such application shall affect the obligations under this Article of the persons receiving such moneys from the Trustee.

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 74 

 Section 15.09. Modification, Extension, Etc. of Senior Indebtedness. 

The holders of Senior Indebtedness may, without affecting in any manner the subordination of the payment of the principal of and premium,
if any, and interest, if any, on the Debt Securities, at any time or from time to time and in their absolute discretion, agree with the Company to change the manner, place or terms of payment, change or extend the time of payment of, or renew or
alter, any Senior Indebtedness, or amend or supplement any instrument pursuant to which any Senior Indebtedness is issued, or exercise or refrain from exercising any other of their rights under the Senior Indebtedness, including, without limitation,
the waiver of default thereunder, all without notice to or assent from the Holders or the Trustee. 
 Section 15.10. Trustee Has No
Fiduciary Duty to Holders of Senior Indebtedness. 
 With respect to the holders of Senior Indebtedness, the Trustee
undertakes to perform or to observe only such of its covenants and objectives as are specifically set forth in this Article, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture
against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness, and shall not be liable to any such holders if it shall mistakenly pay over or deliver to the Holders or the Company or any other
Person, cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or otherwise. 

Section 15.11. Paying Agents other than the Trustee. 
 In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such
case (unless the context shall otherwise require) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article in addition to or in
place of the Trustee; provided, however, that Sections 15.07, 15.08 and 15.10 shall not apply to the Company if it acts as Paying Agent. 
 Section 15.12. Rights of Holders of Senior Indebtedness Not Impaired. 

No right of any present or future holder of Senior Indebtedness to enforce the subordination herein shall at any time or in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof any such holder may have or be
otherwise charged with. 
 Section 15.13. This Article Not To Prevent Events of Default. 

The failure to make a payment on account of principal of, or premium, if any, or interest on the Debt Securities by reason of any
provision of this Article shall not be construed as preventing the occurrence of an Event of Default specified in paragraph (a) or (b) of Section 8.01. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 75 

 Section 15.14. Effect of Subordination Provisions; Termination. 

Notwithstanding anything contained herein to the contrary, other than as provided in the immediately succeeding sentence, all the
provisions of this Indenture shall be subject to the provisions of this Article, so far as the same may be applicable thereto. 

Notwithstanding anything contained herein to the contrary, the provisions of this Article XV shall be of no further effect,
and the Debt Securities shall no longer be subordinated in right of payment to the prior payment of Senior Indebtedness, if the Company shall have delivered to the Trustee a notice to such effect. Any such notice delivered by the Company shall not
be deemed to be a supplemental indenture for purposes of Article XII.]* 
 This instrument may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

  
  

	*	Bracketed language throughout this Indenture will be inserted in the Indenture in the event that subordinated Debt Securities are issued. 

  
 76 

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

			
	CYPRESS SHARPRIDGE INVESTMENTS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	[SEAL]
	
	[ATTEST]
		
	By:	 	  

		 	Name:
		 	Title:

 [Trustee’s signature page
follows.] 

 
			
	                           
                                         
         , Trustee        
		
	By:	 	  

		 	Authorized Representative

  

			
	
	[SEAL]
	
	[ATTEST]
	
	  

	Authorized Representative

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