Document:

Exhibit 4.13

 

 

 

 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN SECTION 5.3 BELOW, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS AND UNTIL REGISTERED UNDER THE ACT AND SUCH LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE COMPANY, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

Form of

WARRANT TO PURCHASE SHARES

Company:                         LOMBARD MEDICAL, INC., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”).

Number of Shares:           _________ subject to adjustment in accordance with Section 2. Type/Series of Shares:     Ordinary Shares, $0.01 par value per share (“Ordinary Shares”). Warrant Price:                  $______ per share.

Issue Date:                        _____________

Expiration Date:               _____________ See also Section 5.1(b).

Credit Facility:                 This Warrant to Purchase Shares (“Warrant”) is issued in connection with that certain Loan and Security Agreement of even date herewith among Oxford Finance LLC, as Lender and Collateral Agent, the Lenders from time to time party thereto, and Lombard Medical Technologies, Inc. (as modified, amended and/or restated from time to time, the “Loan Agreement”).

THIS WARRANT CERTIFIES THAT, for good and valuable consideration, OXFORD FINANCE LLC (“Oxford” and, together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable Ordinary Shares (the “Shares”) at the above-stated Warrant Price, all as set forth above and as adjusted pursuant to Section 2 below, subject to the provisions and upon the terms and conditions set forth in this Warrant.

SECTION 1.      EXERCISE.

1.1        Method  of Exercise.  Holder  may  at  any  time and  from time to  time exercise this Warrant, in whole or in part, by delivering to the Company the original of this Warrant together with a duly executed Notice of Exercise in substantially the form attached hereto as Appendix 1 and, unless Holder is exercising this Warrant pursuant to a cashless exercise set forth in Section 1.2, a check, wire transfer of same-day funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased.

1.2        Cashless Exercise. On any exercise of this Warrant, in lieu of payment of the aggregate Warrant Price in the manner as specified in Section 1.1 above, but otherwise in accordance with the requirements of Section 1.1, Holder may elect to receive Shares equal to the value of this Warrant, or portion hereof as to which this Warrant is being exercised. Thereupon, the Company shall issue to the Holder such number of fully paid and non- assessable Shares as are computed using the following formula:

X = Y(A-B)/A

where:

X =       the number of Shares to be issued to the Holder;

Y =       the number of Shares with respect to which this Warrant is being exercised (inclusive of the Shares surrendered to the Company in payment of the aggregate Warrant Price);

1

A =       the Fair Market Value (as determined pursuant to Section 1.3 below) of one

Share; and

B =       the Warrant Price.

1.3        Fair Market Value.   If the Ordinary Shares are then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a “Trading Market”), the fair market value of a Share (“Fair Market Value”) shall be the closing price or last sale price of one ordinary share reported for the day that is not a Saturday, Sunday or a day on which banks in the Commonwealth of Virginia or the State of New York are closed (“Business Day”) immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company. If the Ordinary Shares are not traded in a Trading Market, the Board of Directors of the Company shall determine the Fair Market Value of a Share in its reasonable good faith judgment.

1.4        Delivery of Certificate and New  Warrant.   Within a reasonable time after Holder exercises this Warrant in the manner set forth in Section 1.1 or 1.2 above, the Company shall: (i) update the Company’s register of members to reflect the issuance of the Shares issued to Holder upon such exercise; and (ii) deliver to Holder (a) a certified extract of the Company’s register of members evidencing the issuance of the Shares to Holder, (b) a certificate representing the Shares issued to Holder upon such exercise, and (c), if this Warrant has not been fully exercised and has not expired, a new warrant of like tenor representing the Shares not so acquired.

1.5        Replacement of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form, substance and amount to the Company or, in the case of mutilation, on surrender of this Warrant to the Company for cancellation, the Company shall, within a reasonable time, execute and deliver to Holder, in lieu of this Warrant, a new warrant of like tenor and amount.

1.6        Treatment of Warrant Upon Acquisition of Company.

(a)        Acquisition.   For the purpose of this Warrant, “Acquisition” means any transaction or series of related transactions involving: (i) the sale, lease, exclusive license, or  other  disposition of all or substantially all of the assets of the Company (ii) any merger, amalgamation or consolidation of the Company into or with another person or entity (other than a merger, amalgamation or consolidation effected exclusively to change the Company’s domicile), or any other corporate reorganization, in which the shareholders of the Company in their capacity as such immediately prior to such merger, amalgamation, consolidation or reorganization, own less than a majority of the Company’s (or the surviving or successor entity’s) outstanding voting power immediately after such merger, amalgamation, consolidation  or reorganization  (or, if such Company  shareholders  beneficially  own a majority of the outstanding voting power of the surviving or successor entity as of immediately after such merger, amalgamation, consolidation or reorganization, such surviving or successor entity is not the Company); or (iii) any sale or other transfer by the shareholders of the Company of shares representing at least a majority of the Company’s then-total outstanding combined voting power.

(b)        Treatment  of  Warrant  at  Acquisition.   In  the  event of  an  Acquisition in  which the consideration to be received by the Company’s shareholders consists solely of cash, solely of Marketable Securities or a combination of cash and Marketable Securities (a “Cash/Public Acquisition”), either (i) Holder shall exercise this Warrant pursuant to Section 1.1 and/or 1.2 and such exercise will be deemed effective immediately prior to and contingent upon the consummation of such Acquisition or (ii) if Holder elects not to exercise the Warrant, this Warrant will expire immediately prior to the consummation of such Acquisition.

The Company shall provide Holder with written notice of its request relating to the Cash/Public Acquisition (together with such reasonable  information  as  Holder may reasonably require  regarding  the  treatment of  this Warrant in connection with such contemplated Cash/Public Acquisition giving rise to such notice), which is to be delivered to Holder not less than seven (7) Business Days prior to the closing of the proposed Cash/Public Acquisition. In the event the Company does not provide such notice, then if, immediately prior to the Cash/Public Acquisition, the Fair Market Value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above would be greater than the Warrant Price in effect on such date, then this

Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall promptly notify Holder of the number of Shares (or such other securities) issued upon such exercise to Holder and Holder shall be deemed to have restated each of the representations and warranties in Section 4 of the Warrant as the date thereof.

(c)        Upon the closing of any Acquisition other than a Cash/Public Acquisition defined above, the acquiring, surviving or successor entity shall assume the obligations of this Warrant, and this Warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this Warrant.

(d)        As used in this Warrant, “Marketable Securities” means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section

15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder in connection with the Acquisition were Holder to

exercise this Warrant on or prior to the closing thereof is then traded in a Trading Market, and (iii) following the

closing of such Acquisition, Holder would not be restricted from publicly re-selling all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition.

SECTION 2.      ADJUSTMENTS TO THE SHARES AND WARRANT PRICE.

2.1        Share Dividends, Splits, Etc. If the Company declares or pays a dividend or distribution on the outstanding Ordinary Shares payable in Ordinary Shares or other securities or property (other than cash), then upon exercise of this Warrant, for each Share acquired and subject to applicable law, Holder shall receive, without additional cost to Holder, the total number and kind of securities and property which Holder would have received had Holder owned the Shares of record as of the date the dividend or distribution occurred.   If the Company subdivides the outstanding Ordinary Shares by reclassification or otherwise into a greater number of shares, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding Ordinary Shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased.

2.2        Reclassification, Exchange, Combinations or Substitution. Upon any event whereby all of the outstanding Ordinary Shares are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or series, then from and after the consummation of such event, the Warrant Price shall be proportionately adjusted to the value per share for the Ordinary Shares reflected by the terms of such reclassification, exchange, combination, substitution, replacement or other similar event, and this Warrant will be exercisable for the number, class and series of Company securities that Holder would have received had the Shares been outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.   The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, combinations, substitutions, replacements or other similar events.

2.3        Intentionally Left Blank.

2.4        Adjustments for Diluting Issuances.   Without duplication of any adjustment otherwise provided for in this Section 2, the number of ordinary shares issuable upon conversion of the Shares shall be subject to anti-dilution adjustment from time to time in the manner set forth in the Company’s Memorandum and Articles of Association as if the Shares were issued and outstanding on and as of the date of any such required adjustment.

2.5        No Fractional Share. No fractional Share shall be issuable upon exercise of this Warrant and the number of Shares to be issued shall be rounded down to the nearest whole Share.   If a fractional Share interest arises upon any exercise of this Warrant, the Company shall eliminate such fractional Share interest by paying Holder in cash the amount computed by multiplying the fractional interest by (i) the Fair Market Value of a full Share, less (ii) the then-effective Warrant Price.

2.6        Notice/Certificate as to Adjustments. Upon each adjustment of the Warrant Price and/or number of Shares, the Company, at the Company’s expense, shall notify Holder in writing within a reasonable time setting forth the adjustments to the Warrant Price and/or number of Shares and facts upon which such adjustment is based.  The Company shall, upon written request from Holder, furnish Holder with a certificate of its Chief Financial Officer, including computations of such adjustment and the Warrant Price and number of Shares in effect upon the date of such adjustment.

SECTION 3.      REPRESENTATIONS AND COVENANTS OF THE COMPANY.

3.1         Representations and Warranties. The Company represents and warrants to, and agrees with, Holder as follows:

(a)        All Shares which may be issued upon the exercise of this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, and assuming Holder’s compliance with Holder’s exercise requirements set forth herein, be duly authorized, validly issued, fully paid and non-assessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. The Company covenants that it shall at all times cause to be reserved and kept available out of its authorized and unissued authorized share capital such number of Ordinary Shares and other securities as will be sufficient to permit the exercise in full of this Warrant.

(b)        The Company’s capitalization table attached hereto as Schedule 1 is true and complete, in all material respects, as of the Issue Date.

3.2        Notice of Certain Events.  If the Company proposes at any time to:

(a)        declare any dividend or distribution upon the outstanding Ordinary Shares, whether in cash, property, shares, or other securities and whether or not a regular cash dividend;

(b)        offer for subscription or sale pro rata to the holders of the outstanding Ordinary Shares any additional shares of any class or series of the Company’s share capital (other than pursuant to contractual pre- emptive rights);

(c)        effect any reclassification, exchange, combination, substitution, reorganization or recapitalization of the outstanding shares of the Class; or

(d)        effect an Acquisition or to liquidate, dissolve or wind up;

then, in connection with each such event, the Company shall give Holder:

(1)        in the case of the matters referred to in (a) and (b) above at least seven (7) Business Days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of outstanding shares of the Class will be entitled thereto) or for determining rights to vote, if any, in respect of such matters; and

(2)        in the case of the matters referred to in (c) and (d) above at least seven (7) Business Days prior written notice of the date when the same will take place (and specifying the date on which the holders of outstanding shares of the Class will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event).

Reference is made to Section 1.6(c) above whereby this Warrant will be deemed to be exercised pursuant to Section

1.2 if the Company does not give written notice to Holder of a Cash/Public Acquisition as required by the terms thereof. Company will also provide information requested by Holder that is reasonably necessary to enable Holder to comply with Holder’s accounting or reporting requirements.

SECTION 4.      REPRESENTATIONS, WARRANTIES OF HOLDER. Holder represents and warrants to the Company as follows:

4.1        Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder are being acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares.

4.2        Disclosure of Information.  Holder  is aware  of  the  Company’s  business  affairs  and financial condition and has received or has had full access to all the information it considers necessary  or appropriate to make an informed investment  decision with  respect to the  acquisition  of  this Warrant  and its underlying  securities.  Holder  further has  had  an  opportunity to ask questions and  receive  answers from the Company regarding the terms and conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to Holder or to which Holder has access.

4.3        Investment Experience.   Holder understands that the purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

4.4        Accredited Investor Status.  Holder is an “accredited investor” within the meaning of

Regulation D promulgated under the Act.

4.5        The Act.   Holder understands that this Warrant and the Shares issuable upon exercise hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Holder’s investment intent as expressed herein. Holder understands that this Warrant and the Shares issued upon any exercise hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such registration and qualification are otherwise available.  Holder is aware of the provisions of Rule 144 promulgated under the Act.

SECTION 5.      MISCELLANEOUS.

5.1        Term; Automatic Cashless Exercise Upon Expiration.

(a)        Term.  Subject to the provisions of Section 1.6 above, this Warrant is exercisable in whole or in part at any time and from time to time on or before 6:00 PM, Eastern time, on the Expiration Date and shall be void thereafter.

(b)        Automatic Cashless Exercise upon Expiration.   In the event that, upon the Expiration Date, the Fair Market Value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or

such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time following Holder’s fulfillment of the conditions set forth in Section 1.1 above, deliver (i) a certified extract of the Company’s register  of members evidencing the issuance of the Shares and (ii) a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.

5.2        No Voting Rights. Except as otherwise specifically provided herein, prior to the issuance to Holder of the Shares to which Holder is then entitled to receive upon the due exercise of this Warrant, Holder shall not be entitled to vote or receive dividends or be deemed the holder of shares of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon Holder, as such, any of the rights of a shareholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of shares, reclassification of share capital, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise.

5.3         Legends.   Each certificate evidencing Shares (and each certificate evidencing the securities issued upon conversion of any Shares, if any) shall be imprinted with a legend in substantially the following form:

THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AS SET FORTH IN THAT CERTAIN WARRANT TO PURCHASE SHARES ISSUED BY THE ISSUER TO OXFORD FINANCE LLC DATED JULY 30, 2015, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE  TRANSFERRED  UNLESS  AND   UNTIL  REGISTERED UNDER SAID ACT AND LAWS OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER IS EXEMPT FROM SUCH REGISTRATION.

5.4        Compliance with Securities Laws on Transfer. This Warrant and the Shares issued upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part except in compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of duly signed share transfer forms (as the case may be), investment representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company).   The Company shall not require Holder to provide an opinion of counsel if the transfer is to an affiliate of Holder, provided that any such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act. Additionally, the Company shall also not require an opinion of counsel if there is no material question as to the availability of Rule 144 promulgated under the Act.

5.5        Intentionally Left Blank.

5.6         Transfer Procedure.  After receipt by Oxford of the executed Warrant, Oxford may transfer all or part of this Warrant to one or more of Oxford’s affiliates (each, an “Oxford Affiliate”), by execution of an Assignment substantially in the form of Appendix 2.   Subject to the provisions of Article 5.3 and upon providing the Company with written notice, Oxford, any such Oxford Affiliate and any subsequent Holder, may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the Shares issuable directly or indirectly, upon conversion of the Shares,  if any) to any other transferee,  provided, however, in connection with any such transfer, the Oxford Affiliate(s) or any subsequent Holder will give the Company notice of the portion of the Warrant being transferred with the name, address and taxpayer identification number of the transferee and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable).

5.7        Notices. All notices and other communications hereunder shall be deemed delivered and effective (i) when given personally, (ii) on the third (3rd) Business Day after being mailed by first-class registered or certified mail, postage prepaid, (iii) upon actual receipt if given by facsimile or electronic mail and such receipt is confirmed in writing by the recipient, or (iv) on the first Business Day following delivery to a reliable overnight

courier service, courier fee prepaid, in any case at such address as may have been furnished to the Company or Holder, as the case may be, in writing by the Company or such Holder from time to time in accordance with the provisions of this Section 5.7. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer or otherwise:

Oxford Finance LLC

133 N. Fairfax Street

Alexandria, VA 22314

Attn: Legal Department

Telephone: (703) 519-4900

Facsimile: (703) 519-5225

Email: LegalDepartment@oxfordfinance.com

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: LOMBARD MEDICAL TECHNOLOGIES, INC.

15420 Laguna Canyon Road

Suite 260

Irvine CA 92618

Attn: William J. Kullback, Chief Financial Officer

Fax: (949) 379-3760

Email: Bill.Kullback@lombardmedical.com

With a copy (which shall not constitute notice) to: Barnes & Thornburg LLP

11 S. Meridian St. Indianapolis, IN 46204-3535

Attn: Peter J. Ekberg, Esq. Fax: (612) 333-6798

Email: peter.ekberg@btlaw.com

5.8         Waiver.  This Warrant and any term hereof may be changed, waived, discharged or terminated (either  generally or in a  particular instance and either retroactively  or prospectively) only by an instrument in writing signed by the party against which enforcement of such change, waiver,  discharge or termination is sought.

5.9        Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees.

5.10    Counterparts; Facsimile/Electronic Signatures.  This Warrant may be executed in counterparts, all of which together shall constitute one and the same agreement.   Any signature page delivered electronically or by facsimile shall be binding to the same extent as an original signature page with regards to any agreement subject to the terms hereof or any amendment thereto.

5.11      Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to its principles regarding conflicts of law.

5.12      Headings. The headings in this Warrant are for purposes of reference only and shall not limit or otherwise affect the meaning of any provision of this Warrant.

[Remainder of page left blank intentionally]

[Signature page follows]

IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Shares to be executed by their duly authorized representatives effective as of the Issue Date written above.

"COMPANY"

LOMBARD MEDICAL, INC.

By:                                                                                     

Name:                                                                              

(Print)

Title:                                                                                 

"HOLDER" OXFORDFINANCELLC

By:                                                                                     

Name:                                                                              

(Print)

Title:                                                                                 

[Signature Page to Warrant to Purchase   Shares]

IN WITNESS WHEREOF, the parties have caused this Warrant to Purchase Shares to be executed by their duly authorized representatives effective as of the Issue Date written  above.

"COMPANY"

LOMBARD MEDICAL, INC.

By:                                                                                             Name:         

(Print)

Title:                                                                                          "HOLDER"

OXFORD FINANCE LLC

By:                                                                                             Name:         

(Print)

Title:                                 

[Signature Page to Warrant to Purchase Shares]

APPENDIX 1

NOTICE OF EXERCISE

1.          The undersigned Holder hereby exercises its right to purchase                       Ordinary Shares of LOMBARD MEDICAL, INC. (the “Company”) in accordance with the attached Warrant To Purchase Shares, and tenders payment of the aggregate Warrant Price for such shares as follows:

[    ]      check in the amount of $                payable to order of the Company enclosed herewith

[    ]      Wire transfer of immediately available funds to the Company’s account

[   ]      Cashless Exercise pursuant to Section 1.2 of the Warrant

[   ]       Other [Describe]                                                                                                                             

2.          Please issue a certificate or certificates representing the Shares in the name specified below:

Holder’s Name

(Address)

3.          By its execution below and for the benefit of the Company, Holder hereby restates each of the representations and warranties in Section 4 of the Warrant to Purchase Shares as of the date hereof.

HOLDER:

By:                                                                                  

Name:                                                                                  

Title:                                                                                   Date:  

APPENDIX 2

ASSIGNMENT

For value received, Oxford Finance LLC hereby sells, assigns and transfers unto

Name:                 [OXFORD TRANSFEREE] Address:                                                                                                                              

Tax ID:                                                                          ]

that certain Warrant to Purchase Shares issued by LOMBARD MEDICAL, INC. (the “Company”), on July

30, 2015 (the “Warrant”) together with all rights, title and interest therein.

OXFORD FINANCE LLC

By:  

Name:  

Title:  

Date:                                                                                  

By its execution below, and for the benefit of the Company, [OXFORD TRANSFEREE] makes each of the representations and warranties set forth in Article 4 of the Warrant and agrees to all other provisions of the Warrant as of the date hereof.

[OXFORD TRANSFEREE]

By:  

Name:  

Title:                                                                          ]

SCHEDULE 1

Company Capitalization Table

See attached.Exhibit 4.1

 

EXECUTION VERSION

 

SIMON PROPERTY GROUP, L.P.

 

ISSUER

 

TO

 

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

 

TRUSTEE

 

 

THIRTY-FOURTH SUPPLEMENTAL INDENTURE

 

DATED AS OF JANUARY 13, 2016

 

 

$550,000,000 2.500% NOTES due 2021
 $800,000,000 3.300% NOTES due 2026

 

SUPPLEMENT TO INDENTURE,
 DATED AS OF NOVEMBER 26, 1996,
 BETWEEN
 SIMON PROPERTY GROUP, L.P.
 AND
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
 (AS SUCCESSOR TO THE CHASE MANHATTAN BANK),
 AS TRUSTEE

 

 

TABLE OF CONTENTS

 

	
ARTICLE I   DEFINITIONS, CREATION, FORMS AND TERMS AND CONDITIONS OF THE SECURITIES
    	
1
    
	
 
    	
 
    	
 
    
	
SECTION 1.01.
    	
Definitions
    	
1
    
	
SECTION 1.02.
    	
Creation of the Notes
    	
3
    
	
SECTION 1.03.
    	
Form of the Notes
    	
3
    
	
SECTION 1.04.
    	
Terms and Conditions of   the 2021 Notes
    	
4
    
	
SECTION 1.05.
    	
Terms and Conditions of   the 2026 Notes
    	
6
    
	
 
    	
 
    	
 
    
	
ARTICLE II   COVENANTS; EVENTS AND NOTICE OF DEFAULT; SUPPLEMENTAL INDENTURES
    	
8
    
	
 
    	
 
    	
 
    
	
SECTION 2.01.
    	
Covenants for Benefit   of Holders of Notes
    	
8
    
	
SECTION 2.02.
    	
Provision of Financial   Information
    	
8
    
	
SECTION 2.03.
    	
Definitions
    	
8
    
	
SECTION 2.04.
    	
Events of Default
    	
10
    
	
SECTION 2.05.
    	
Notice of Defaults
    	
11
    
	
SECTION 2.06.
    	
Supplemental Indentures   Without Consent of Holders
    	
12
    
	
 
    	
 
    	
 
    
	
ARTICLE III   TRANSFER AND EXCHANGE
    	
12
    
	
 
    	
 
    	
 
    
	
SECTION 3.01.
    	
Transfer and Exchange
    	
12
    
	
 
    	
 
    	
 
    
	
ARTICLE IV LEGENDS
    	
 
    	
12
    
	
 
    	
 
    	
 
    
	
SECTION 4.01.
    	
Legends
    	
12
    
	
 
    	
 
    	
 
    
	
ARTICLE V TRUSTEE
    	
 
    	
13
    
	
 
    	
 
    	
 
    
	
SECTION 5.01.
    	
Corporate Trust Office
    	
13
    
	
SECTION 5.02.
    	
Recitals of Fact; Other   Matters
    	
13
    
	
SECTION 5.03.
    	
Successor
    	
14
    
	
 
    	
 
    	
 
    
	
ARTICLE VI   MISCELLANEOUS PROVISIONS
    	
14
    
	
 
    	
 
    	
 
    
	
SECTION 6.01.
    	
Ratification of   Original Indenture
    	
14
    
	
SECTION 6.02.
    	
Effect of Headings
    	
14
    
	
SECTION 6.03.
    	
Successors and Assigns
    	
14
    
	
SECTION 6.04.
    	
Separability Clause
    	
14
    
	
SECTION 6.05.
    	
Governing Law
    	
14
    
	
SECTION 6.06.
    	
Counterparts
    	
14
    
	
 
    	
 
    	
 
    
	
EXHIBITS
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
EXHIBIT A
    	
Form of Global   Note
    	
 
    
	
EXHIBIT B
    	
Form of   Certificated Note
    	
 
    
				

 

i

 

THIRTY-FOURTH SUPPLEMENTAL INDENTURE, dated as of January 13, 2016 (the “Thirty-Fourth Supplemental Indenture”), between SIMON PROPERTY GROUP, L.P. (formerly known as Simon DeBartolo Group, L.P.), a Delaware limited partnership (the “Issuer” or the “Operating Partnership”), having its principal offices at 225 West Washington Street, Indianapolis, Indiana 46204, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (as successor to The Chase Manhattan Bank), a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”), having its Corporate Trust Office at 2 North LaSalle Street, Suite 1020, Chicago, Illinois 60602.

 

RECITALS

 

WHEREAS, the Issuer and Simon Property Group, L.P., a Delaware limited partnership acting as a guarantor (the “Guarantor”), executed and delivered to the Trustee an Indenture, dated as of November 26, 1996 (the “Original Indenture”), providing for the issuance from time to time of debt securities evidencing unsecured and unsubordinated indebtedness of the Issuer;

 

WHEREAS, on December 31, 1997 the Guarantor was merged into the Issuer as contemplated under the Indenture;

 

WHEREAS, the Issuer changed its name from “Simon DeBartolo Group, L.P.” to “Simon Property Group, L.P.” effective as of September 24, 1998;

 

WHEREAS, the Original Indenture provides that by means of a supplemental indenture, the Issuer may create one or more series of its debt securities and establish the form and terms and conditions thereof;

 

WHEREAS, the Issuer intends by this Thirty-Fourth Supplemental Indenture to create and provide for the following series of debt securities:

 

Simon Property Group, L.P. 2.500% Notes due 2021 (the “2021 Notes”) initially in an aggregate principal amount of $550,000,000; and

 

Simon Property Group, L.P. 3.300% Notes due 2026 (the “2026 Notes,” and together with the 2021 Notes, the “Notes”) initially in an aggregate principal amount of $800,000,000;

 

WHEREAS, the Board of Directors of Simon Property Group, Inc., the general partner of the Issuer, has approved the creation of the Notes and the forms, terms and conditions thereof pursuant to Sections 301 and 1701 of the Original Indenture; and

 

WHEREAS, all actions required to be taken under the Original Indenture with respect to this Thirty-Fourth Supplemental Indenture have been taken.

 

NOW, THEREFORE, IT IS AGREED:

 

ARTICLE I

 

DEFINITIONS, CREATION, FORMS AND
 TERMS AND CONDITIONS OF THE SECURITIES

 

SECTION 1.01.                                   Definitions.  Capitalized terms used in this Thirty-Fourth Supplemental Indenture and not otherwise defined shall have the meanings ascribed to them in the Original Indenture.

 

 

Certain terms, used principally in Article II of this Thirty-Fourth Supplemental Indenture, are defined in that Article.  In addition, the following terms shall have the following meanings to be equally applicable to both the singular and the plural forms of the terms defined:

 

“2021 Interest Payment Date” has the meaning set forth in Section 1.04(c).

 

“2021 Notes” has the meaning set forth in the Recitals hereto.

 

“2021 Redemption Price” has the meaning set forth in Section 1.04(d).

 

“2021 Regular Record Date” has the meaning set forth in Section 1.04(c).

 

“2026 Interest Payment Date” has the meaning set forth in Section 1.05(c).

 

“2026 Notes” has the meaning set forth in the Recitals hereto.

 

“2026 Redemption Price” has the meaning set forth in Section 1.05(d).

 

“2026 Regular Record Date” has the meaning set forth in Section 1.05(c).

 

“Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close.

 

“Certificated Notes” has the meaning set forth in Article III.

 

“Closing Date” means January 13, 2016.

 

“Dollar” or “$” means the lawful currency of the United States of America.

 

“DTC” means The Depository Trust Company, its nominees and their successors and assigns.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

 

“Global Note” means a permanent fully registered global Note in book-entry form, without coupons, substantially in the form of Exhibit A attached hereto.

 

“Indenture” means the Original Indenture as supplemented by this Thirty-Fourth Supplemental Indenture.

 

“Issuer” has the meaning set forth in the Recitals hereto.

 

“Make-Whole Amount” means, in connection with any optional redemption or accelerated payment of any Notes, the excess, if any, of (i) the aggregate present value, as of the date of such redemption or accelerated payment, of each Dollar of principal of such Notes being redeemed or accelerated and the amount of interest, calculated by the Operating Partnership, excluding interest accrued to the date of redemption or accelerated payment, that would have been payable in respect of each such Dollar if such redemption or accelerated payment had been made on April 15, 2021, in the case of the 2021 Notes, or October 15, 2025, in the case of the 2026 Notes, determined by discounting, on a semi-annual basis, such principal and interest at the Reinvestment Rate, determined on the third Business Day preceding the date notice of such redemption or accelerated payment is given, from the respective dates on which such principal and interest would have been payable if such redemption or accelerated payment

 

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had been made on April 15, 2021, in the case of the 2021 Notes, or October 15, 2025, in the case of the 2026 Notes, over (ii) the aggregate principal amount of such Notes being redeemed or accelerated.

 

“Notes” has the meaning set forth in the Recitals hereto.

 

“Operating Partnership” has the meaning set forth in the Recitals hereto.

 

“Original Indenture” has the meaning set forth in the Recitals hereto.

 

“Prior Supplemental Indentures” has the meaning set forth in Section 2.01.

 

“Reinvestment Rate” means, in connection with any optional redemption or accelerated payment of any Notes, the yield on treasury securities at a constant maturity corresponding to the remaining life to maturity (rounded up to the nearest month) of the principal of the Notes being redeemed or accelerated as of the date of redemption or accelerated payment (which maturity shall be deemed to be April 15, 2021, in the case of the 2021 Notes, or October 15, 2025, in the case of the 2026 Notes) (the “Treasury Yield”), plus 0.150%, in the case of the 2021 Notes, and 0.200%, in the case of the 2026 Notes being redeemed or accelerated.  For purposes hereof, the Treasury Yield shall be equal to the arithmetic mean of the yields published in the Statistical Release under the heading “Week Ending” for “U.S. Government Securities — Treasury Constant Maturities” with a maturity equal to the deemed remaining life to maturity of the Notes being redeemed or accelerated; provided, that if no published maturity exactly corresponds to such remaining life, then the Treasury Yield shall be interpolated or extrapolated on a straight-line basis from the arithmetic means of the yields for the next shortest and next longest published maturities, rounding each of such relevant periods to the nearest month.  For purposes of calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date of determination of the Make-Whole Amount shall be used.  If the format or content of the Statistical Release changes in a manner that precludes determination of the Treasury Yield in the above manner, then the Treasury Yield shall be determined in the manner that most closely approximates the above manner, as reasonably determined by the Operating Partnership.

 

“Securities Act” means the Securities Act of 1933, as amended from time to time.

 

“Statistical Release” means the statistical release designated “H.15(519)” or any successor publication which is published weekly by the Federal Reserve System and which reports yields on actively traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any required determination, then such other reasonably comparable index which shall be designated by the Operating Partnership.

 

“Trustee” has the meaning set forth in the Recitals hereto.

 

SECTION 1.02.                                   Creation of the Notes.  In accordance with Section 301 of the Original Indenture, the Issuer hereby creates each of the 2021 Notes and the 2026 Notes as a separate series of its debt securities issued pursuant to the Indenture.  The 2021 Notes shall be issued initially in an aggregate principal amount of $550,000,000 and the 2026 Notes shall be issued initially in an aggregate principal amount of $800,000,000, except, in each case, as permitted by Sections 301, 304, 305 or 306 of the Original Indenture.

 

SECTION 1.03.                                   Form of the Notes.  Each series of the Notes shall be issued in the form of one or more Global Notes, duly executed by the Operating Partnership and authenticated by the Trustee without the necessity of the reproduction thereon of the corporate seal of the General Partner (as defined in the Original Indenture), which shall be deposited with, or on behalf of, DTC and registered in the name

 

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of “Cede & Co.,” as the nominee of DTC.  The Notes of each series shall be substantially in the form of Exhibit A attached hereto.  So long as DTC, or its nominee, is the registered owner of a Global Note, DTC or its nominee, as the case may be, shall be considered the sole owner or Holder of the Notes represented by such Global Notes for all purposes under the Indenture.  Ownership of beneficial interests in such Global Notes shall be shown on, and transfers thereof will be effected only through, records maintained by DTC (with respect to beneficial interests of participants) or by participants or Persons that hold interests through participants (with respect to beneficial interests of beneficial owners).

 

SECTION 1.04.                                   Terms and Conditions of the 2021 Notes.  The 2021 Notes shall be governed by all the terms and conditions of the Indenture.  In particular, the following provisions shall be terms of the 2021 Notes:

 

(a)                                 Title and Aggregate Principal Amount.  The title of the 2021 Notes shall be as specified in the Recitals; and the aggregate principal amount of the 2021 Notes shall be as specified in Section 1.02 of this Thirty-Fourth Supplemental Indenture, except as permitted by Sections 301, 304, 305 or 306 of the Original Indenture.

 

(b)                                 Stated Maturity.  The 2021 Notes shall mature, and the unpaid principal thereon shall be payable, on July 15, 2021, subject to the provisions of the Original Indenture and Section 1.04(d) below.

 

(c)                                  Interest.  The rate per annum at which interest shall be payable on the 2021 Notes shall be 2.500%.  Interest on the 2021 Notes shall be payable semi-annually in arrears on each January 15 and July 15, commencing on July 15, 2016 (each, a “2021 Interest Payment Date”), to the Persons in whose names the applicable 2021 Notes are registered in the Security Register applicable to the 2021 Notes at the close of business on the 15th calendar day immediately prior to the applicable 2021 Interest Payment Date regardless of whether such day is a Business Day (each, a “2021 Regular Record Date”).  Interest on the 2021 Notes shall be computed on the basis of a 360-day year of twelve 30-day months.  Interest on the 2021 Notes shall accrue from and including January 13, 2016.

 

(d)                                 Sinking Fund, Redemption or Repayment.  No sinking fund shall be provided for the 2021 Notes and the 2021 Notes shall not be repayable at the option of the Holders thereof prior to their Stated Maturity.  The 2021 Notes may be redeemed at any time at the option of the Issuer, in whole or from time to time in part, at a redemption price equal to the sum of (i) 100% of the principal amount of the 2021 Notes being redeemed plus accrued interest thereon to but excluding the Redemption Date and (ii) the Make-Whole Amount, if any, with respect to such 2021 Notes (collectively, the “2021 Redemption Price”), all in accordance with the provisions of Article XI of the Original Indenture, as supplemented herein; provided, however, that if the 2021 Notes are redeemed on or after April 15, 2021, the 2021 Redemption Price shall not include the Make-Whole Amount.

 

If notice of redemption has been given as provided in the Original Indenture and as supplemented herein, and funds for the redemption of any 2021 Notes called for redemption shall have been made available on the Redemption Date referred to in such notice, such 2021 Notes shall cease to bear interest on the Redemption Date and the only right of the Holders of the 2021 Notes from and after the Redemption Date shall be to receive payment of the 2021 Redemption Price upon surrender of such 2021 Notes in accordance with such notice.

 

(e)                                  Registration and Form.  The 2021 Notes shall be issuable as Registered Securities as provided in Section 1.03 of this Thirty-Fourth Supplemental Indenture.  The 2021 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples

 

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of $1,000 in excess thereof.  All payments of principal, premium, if any, and interest in respect of the 2021 Notes shall be made by the Issuer in immediately available funds.

 

(f)                                   Defeasance and Covenant Defeasance.  The provisions for defeasance in Section 1402 of the Original Indenture, and the provisions for covenant defeasance (which provisions shall apply, without limitation, to the covenants set forth in Article II of this Thirty-Fourth Supplemental Indenture) in Section 1403 of the Original Indenture, shall be applicable to the 2021 Notes.

 

(g)                                  Make-Whole Amount Payable Upon Acceleration.  Upon any acceleration of the Stated Maturity of the 2021 Notes in accordance with Section 502 of the Original Indenture, the Make-Whole Amount on the 2021 Notes shall become immediately due and payable, subject to the terms and conditions of the Indenture.

 

(h)                                 Further Issues.  Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time to time, without the consent of or notice to the Holders, create and issue further debt securities under the Indenture having the same terms and conditions as the 2021 Notes in all respects, except for issue date, issue price and, to the extent applicable, first payment of interest.  Additional debt securities issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2021 Notes, provided, however, that the issuance of such additional debt securities will not be so consolidated for United States federal income tax purposes unless such issuance constitutes a “qualified reopening” within the meaning of the Code, and the Treasury regulations promulgated thereunder.  Notice of any such issuance shall be given to the Trustee and a new supplemental indenture shall be executed in connection with the issuance of such additional debt securities.

 

(i)                                     Election to Redeem; Notice to the Trustee.  The second sentence of Section 1102 of the Original Indenture is replaced in its entirety by the following with respect to the 2021 Notes:

 

“In case of any redemption at the election of the Issuer of less than all of the Securities of any series, the Issuer shall, at least 5 business days prior to the giving of the notice of redemption in Section 1104 (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed.”

 

(j)                                    Selection by Trustee of Securities to be Redeemed.  The first paragraph of Section 1103 of the Original Indenture is replaced in its entirety by the following with respect to the 2021 Notes:

 

“If less than all the Securities of any series issued on the same day with the same terms are to be redeemed, the particular Securities to be redeemed shall be selected by the Trustee from the Outstanding Securities of such series issued on such date with the same terms not previously called for redemption, by such method as the Trustee shall deem fair and appropriate (and in such manner as complies with the requirements of DTC, if applicable) and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series.”

 

(k)                                 Notice of Redemption.  The first paragraph of Section 1104 of the Original Indenture is replaced in its entirety by the following with respect to the 2021 Notes:

 

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“Notice of redemption shall be given in the manner provided in Section 106, not less than 15 days nor more than 45 days prior to the Redemption Date, unless a shorter period is specified by the terms of such series established pursuant to Section 301, to each Holder of Securities to be redeemed, but failure to give such notice in the manner herein provided to the Holder of any Security designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other such Security or portion thereof.”

 

(l)                                     Other Terms and Conditions.  The 2021 Notes shall have such other terms and conditions applicable to them as provided in the form thereof attached as Exhibit A.

 

SECTION 1.05.                                   Terms and Conditions of the 2026 Notes.  The 2026 Notes shall be governed by all the terms and conditions of the Indenture.  In particular, the following provisions shall be terms of the 2026 Notes:

 

(a)                                 Title and Aggregate Principal Amount.  The title of the 2026 Notes shall be as specified in the Recitals; and the aggregate principal amount of the 2026 Notes shall be as specified in Section 1.02 of this Thirty-Fourth Supplemental Indenture, except as permitted by Sections 301, 304, 305 or 306 of the Original Indenture.

 

(b)                                 Stated Maturity.  The 2026 Notes shall mature, and the unpaid principal thereon shall be payable, on January 15, 2026, subject to the provisions of the Original Indenture and Section 1.05(d) below.

 

(c)                                  Interest.  The rate per annum at which interest shall be payable on the 2026 Notes shall be 3.300%.  Interest on the 2026 Notes shall be payable semi-annually in arrears on each January 15 and July 15, commencing on July 15, 2016 (each, a “2026 Interest Payment Date”), to the Persons in whose names the applicable 2026 Notes are registered in the Security Register applicable to the 2026 Notes at the close of business on the 15th calendar day immediately prior to the applicable 2026 Interest Payment Date regardless of whether such day is a Business Day (each, a “2026 Regular Record Date”).  Interest on the 2026 Notes shall be computed on the basis of a 360-day year of twelve 30-day months.  Interest on the 2026 Notes shall accrue from and including January 13, 2016.

 

(d)                                 Sinking Fund, Redemption or Repayment.  No sinking fund shall be provided for the 2026 Notes and the 2026 Notes shall not be repayable at the option of the Holders thereof prior to their Stated Maturity.  The 2026 Notes may be redeemed at any time at the option of the Issuer, in whole or from time to time in part, at a redemption price equal to the sum of (i) 100% of the principal amount of the 2026 Notes being redeemed plus accrued interest thereon to but excluding the Redemption Date and (ii) the Make-Whole Amount, if any, with respect to such 2026 Notes (collectively, the “2026 Redemption Price”), all in accordance with the provisions of Article XI of the Original Indenture, as supplemented herein; provided, however, that if the 2026 Notes are redeemed on or after October 15, 2025, the 2026 Redemption Price shall not include the Make-Whole Amount.

 

If notice of redemption has been given as provided in the Original Indenture and as supplemented herein, and funds for the redemption of any 2026 Notes called for redemption shall have been made available on the Redemption Date referred to in such notice, such 2026  Notes shall cease to bear interest on the Redemption Date and the only right of the Holders of the 2026 Notes from and after the Redemption Date shall be to receive payment of the 2026 Redemption Price upon surrender of such 2026 Notes in accordance with such notice.

 

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(e)                                  Registration and Form.  The 2026 Notes shall be issuable as Registered Securities as provided in Section 1.03 of this Thirty-Fourth Supplemental Indenture.  The 2026 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.  All payments of principal, premium, if any, and interest in respect of the 2026 Notes shall be made by the Issuer in immediately available funds.

 

(f)                                   Defeasance and Covenant Defeasance.  The provisions for defeasance in Section 1402 of the Original Indenture, and the provisions for covenant defeasance (which provisions shall apply, without limitation, to the covenants set forth in Article II of this Thirty-Fourth Supplemental Indenture) in Section 1403 of the Original Indenture, shall be applicable to the 2026 Notes.

 

(g)                                  Make-Whole Amount Payable Upon Acceleration.  Upon any acceleration of the Stated Maturity of the 2026 Notes in accordance with Section 502 of the Original Indenture, the Make-Whole Amount on the 2026 Notes shall become immediately due and payable, subject to the terms and conditions of the Indenture.

 

(h)                                 Further Issues.  Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time to time, without the consent of or notice to the Holders, create and issue further debt securities under the Indenture having the same terms and conditions as the 2026 Notes in all respects, except for issue date, issue price and, to the extent applicable, first payment of interest.  Additional debt securities issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2026 Notes, provided, however, that the issuance of such additional debt securities will not be so consolidated for United States federal income tax purposes unless such issuance constitutes a “qualified reopening” within the meaning of the Code, and the Treasury regulations promulgated thereunder.  Notice of any such issuance shall be given to the Trustee and a new supplemental indenture shall be executed in connection with the issuance of such additional debt securities.

 

(i)                                     Election to Redeem; Notice to the Trustee.  The second sentence of Section 1102 of the Original Indenture is replaced in its entirety by the following with respect to the 2026 Notes:

 

“In case of any redemption at the election of the Issuer of less than all of the Securities of any series, the Issuer shall, at least 5 business days prior to the giving of the notice of redemption in Section 1104 (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed.”

 

(j)                                    Selection by Trustee of Securities to be Redeemed.  The first paragraph of Section 1103 of the Original Indenture is replaced in its entirety by the following with respect to the 2026 Notes:

 

“If less than all the Securities of any series issued on the same day with the same terms are to be redeemed, the particular Securities to be redeemed shall be selected by the Trustee from the Outstanding Securities of such series issued on such date with the same terms not previously called for redemption, by such method as the Trustee shall deem fair and appropriate (and in such manner as complies with the requirements of DTC, if applicable) and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series.”

 

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(k)                                 Notice of Redemption.  The first paragraph of Section 1104 of the Original Indenture is replaced in its entirety by the following with respect to the 2026 Notes:

 

“Notice of redemption shall be given in the manner provided in Section 106, not less than 15 days nor more than 45 days prior to the Redemption Date, unless a shorter period is specified by the terms of such series established pursuant to Section 301, to each Holder of Securities to be redeemed, but failure to give such notice in the manner herein provided to the Holder of any Security designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other such Security or portion thereof.”

 

(l)                                     Other Terms and Conditions.  The 2026 Notes shall have such other terms and conditions applicable to them as provided in the form thereof attached as Exhibit A.

 

ARTICLE II

 

COVENANTS; EVENTS AND NOTICE OF DEFAULT;
 SUPPLEMENTAL INDENTURES

 

SECTION 2.01.                                   Covenants for Benefit of Holders of Notes.  In addition to the covenants set forth in Article X of the Original Indenture, there are established pursuant to Section 901(2) of the Original Indenture the following covenants for the benefit of the Holders of the Notes of each Series and to which such Notes shall be subject.

 

(a)                                 Limitation on Debt.  As of each Reporting Date (as defined below), Debt (as defined below) shall not exceed 65% of Total Assets (as defined below).

 

(b)                                 Limitation on Secured Debt.  As of each Reporting Date, Secured Debt (as defined below) shall not exceed 50% of Total Assets.

 

(c)                                  Fixed Charge Coverage Ratio.  For the four consecutive quarters ending on each Reporting Date, the ratio of Annualized EBITDA (as defined below) to Annualized Interest Expense (as defined below) shall be at least 1.50 to 1.00.

 

(d)                                 Maintenance of Unencumbered Assets.  As of each Reporting Date, Unencumbered Assets (as defined below) shall be at least 125% of Unsecured Debt (as defined below).

 

SECTION 2.02.                                   Provision of Financial Information. For the purposes of the Notes of each series, Section 1010 of the Original Indenture is hereby amended by adding the following as the third paragraph of such section:

 

“The availability of the foregoing materials on the Commission’s website or on the Issuer’s website shall be deemed to satisfy the foregoing delivery obligations. The Trustee shall have no obligation to determine if and when the Issuer’s Financial Statements or reports are publicly available and accessible electronically.”

 

SECTION 2.03.                                   Definitions.  As used herein:

 

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“Annualized EBITDA” means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share (as defined below) of earnings before interest, taxes, depreciation and amortization (“EBITDA”), with other adjustments as are necessary to exclude the effect of all realized or unrealized gains and losses related to hedging obligations, items classified as extraordinary items and impairment charges in accordance with generally accepted accounting principles, adjusted to reflect the assumption that (i) any EBITDA related to any assets acquired or placed in service since the first day of such four-quarter period had been earned, on an annualized basis, from the beginning of such period, and (ii) any assets disposed of during such four-quarter period had been disposed of as of the first day of such period and no EBITDA related to such assets had been earned during such period.

 

“Annualized Interest Expense” means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share of interest expense, with other adjustments as are necessary to exclude the effect of items classified as extraordinary items, in accordance with generally accepted accounting principles, reduced by amortization of debt issuance costs and adjusted to reflect the assumption that (i) any interest expense related to indebtedness incurred since the first day of such four-quarter period is computed as if such indebtedness had been incurred as of the beginning of such period, and (ii) any interest expense related to indebtedness that was repaid or retired since the first day of such four-quarter period is computed as if such indebtedness had been repaid or retired as of the beginning of such period (except that, in making such computation, the amount of interest expense related to indebtedness under any revolving credit facility shall be computed based upon the average daily balance of such indebtedness during such four-quarter period).

 

“Capitalization Rate” means 7.00%.

 

“Capitalized Value” means, as of any date, Annualized EBITDA divided by the Capitalization Rate.

 

“Company” means Simon Property Group, Inc., a Delaware corporation and the sole general partner of the Operating Partnership.

 

“Debt” means the Operating Partnership’s Pro Rata Share of the aggregate principal amount of indebtedness in respect of (i) borrowed money evidenced by bonds, notes, debentures or similar instruments, as determined in accordance with generally accepted accounting principles, (ii) indebtedness secured by any mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Operating Partnership or any Subsidiary directly, or indirectly through unconsolidated joint ventures, as determined in accordance with generally accepted accounting principles, (iii) reimbursement obligations in connection with any letters of credit actually issued and called, (iv) any lease of property by the Operating Partnership or any Subsidiary as lessee which is reflected in the Operating Partnership’s balance sheet as a capitalized lease, in accordance with generally accepted accounting principles; provided, that Debt also includes, to the extent not otherwise included, any obligation by the Operating Partnership or any Subsidiary to be liable for, or to pay, as obligor, guarantor or otherwise, items of indebtedness of another Person (other than the Operating Partnership or any Subsidiary) described in clauses (i) through (iv) above (or, in the case of any such obligation made jointly with another Person, the Operating Partnership’s or Subsidiary’s allocable portion of such obligation based on its ownership interest in the related real estate assets); and provided, further, that Debt excludes Intercompany Debt (as defined below).

 

“Intercompany Debt” means Debt to which the only parties are the Company, the Operating Partnership and any of their Subsidiaries or affiliates (but only so long as such Debt is held solely by any of the Company, the Operating Partnership and any Subsidiary or affiliate) and provided that, in the case

 

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of Debt owed by the Operating Partnership to any Subsidiary or affiliate, the Debt is subordinated in right of payment to the Notes.

 

“Pro Rata Share” means any applicable figure or measure of the Operating Partnership and its Subsidiaries on a consolidated basis, less any portion attributable to minority interests, plus the Operating Partnership’s or its Subsidiaries’ allocable portion of such figure or measure, based on their ownership interest, of unconsolidated joint ventures.

 

“Reporting Date” means March 31, June 30, September 30 and December 31 of each year.

 

“Secured Debt” means Debt secured by any mortgage, lien, pledge, encumbrance or security interest of any kind upon any of the property of the Operating Partnership or any Subsidiary.

 

“Stabilized Asset” means (i) with respect to an acquisition of an asset, such asset becomes stabilized when the Operating Partnership or its Subsidiaries or an unconsolidated joint venture in which the Operating Partnership or any Subsidiary has an interest has owned the asset as of at least six Reporting Dates, and (ii) with respect to a new construction or development asset, such asset becomes stabilized four Reporting Dates after the earlier of (a) six Reporting Dates after substantial completion of construction or development or (b) the first Reporting Date on which the asset is at least 90% leased.

 

“Total Assets” means, as of any Reporting Date, the sum of (i) for Stabilized Assets, Capitalized Value; (ii) for all other assets of the Operating Partnership and its Subsidiaries, the Operating Partnership’s Pro Rata Share of undepreciated book value as determined in accordance with generally accepted accounting principles; and (iii) the Operating Partnership’s Pro Rata Share of cash and cash equivalents.

 

“Unencumbered Annualized EBITDA” means Annualized EBITDA less any portion thereof attributable to assets serving as collateral for Secured Debt.

 

“Unencumbered Assets” as of any Reporting Date means Total Assets as of such date multiplied by a fraction, the numerator of which is Unencumbered Annualized EBITDA and the denominator of which is Annualized EBITDA.

 

“Unsecured Debt” means Debt that is not secured by any mortgage, lien, pledge, encumbrance or security interest of any kind.

 

SECTION 2.04.                                   Events of Default.  For the purposes of the Notes of each Series, Section 501 of the Original Indenture is hereby amended by, supplemented with, and where inconsistent replaced by, the following provisions; provided, however, that Section 501 of the Original Indenture, as the same may be amended or modified from time to time hereafter, shall also apply to the Notes of each Series only for so long as any Securities issued pursuant to any Prior Supplemental Indentures remain outstanding:

 

(a)                                 Section 501(4) of the Original Indenture is replaced in its entirety by the following:

 

“(4)                           default in the performance, or breach, of any covenant or warranty of the Issuer in this Indenture with respect to any Security of that series (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% in principal amount of the

 

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Outstanding Securities of that 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; or”

 

(b)                                 Section 501(5) of the Original Indenture is replaced in its entirety by the following:

 

“(5)                           a default under any evidence of recourse indebtedness of the Issuer, or under any mortgage, indenture or other instrument of the Issuer (including a default with respect to Securities of any series other than that series) under which there may be issued or by which there may be secured any recourse indebtedness of the Issuer (or of any Subsidiary, the repayment of which the Issuer has guaranteed or for which the Issuer is directly responsible or liable as obligor or guarantor), whether such indebtedness now exists or shall hereafter be created, which default shall constitute a failure to pay an aggregate principal amount exceeding $50,000,000 of such indebtedness when due and payable after the expiration of any applicable grace period with respect thereto and shall have resulted in such indebtedness in an aggregate principal amount exceeding $50,000,000 becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, without such indebtedness having been discharged, or such acceleration having been rescinded or annulled, within a period of 30 days after there shall have been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default and requiring the Issuer to cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled and stating that such notice is a “Notice of Default” hereunder; or”

 

SECTION 2.05.                                   Notice of Defaults.  For the purposes of the Notes of each Series, Section 601 of the Original Indenture is hereby replaced in its entirety by the following; provided, however, that Section 601 of the Original Indenture, as the same may be amended or modified from time to time hereafter, shall also apply to the Notes of each Series only for so long as any Securities issued pursuant to any Prior Supplemental Indentures remain outstanding:

 

“Notice of Defaults.  Within 90 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit in the manner and to the extent provided in TIA Section 313(c), notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on or any Additional Amounts with respect to any Security of such series, or in the payment of any sinking fund installment with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as a trust committee of Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Holders of the Securities and Coupons of such series; and provided further that in the case of any default or breach of the character specified in Section 501(4) with respect to the Securities and Coupons of such series, no such notice to Holders shall be given until at least 90 days after the occurrence thereof.  For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to the Securities of such series.”

 

11

 

SECTION 2.06.                                   Supplemental Indentures Without Consent of Holders.  For the purposes of the Notes of each Series, Section 901 of the Original Indenture is hereby amended by adding the following as Section 901(11):

 

“to conform the terms of this Indenture or the Securities of a series or any Coupons to the description thereof contained in any prospectus, prospectus supplement or other offering document relating to the offer and sale of such Securities, as evidenced by an Officers’ Certificate.”

 

ARTICLE III

 

TRANSFER AND EXCHANGE

 

SECTION 3.01.                                   Transfer and Exchange.

 

(a)                                 The Global Notes shall be exchanged by the Operating Partnership for one or more Notes of the same series in definitive, fully registered certificated form, without coupons, substantially in the form of Exhibit B hereto (the “Certificated Notes”) if (i) DTC (1) has notified the Operating Partnership that it is unwilling or unable to continue as, or ceases to be, a clearing agency registered under Section 17A of the Exchange Act and (2) a successor to DTC registered as a clearing agency under Section 17A of the Exchange Act is not able to be appointed by the Operating Partnership within 90 calendar days or (ii) DTC is at any time unwilling or unable to continue as depositary and the Operating Partnership is not able to appoint a successor to DTC within 90 calendar days.  If an Event of Default occurs and is continuing, the Operating Partnership shall, at the request of the Trustee or the Holder thereof, exchange all or part of the applicable Global Note for one or more Certificated Notes of the same series, as applicable.  In addition, beneficial interests in a Global Note may be exchanged for Certificated Notes of the same series upon request but only upon at least 30 calendar days’ prior written notice given to the Trustee by or on behalf of DTC in accordance with customary procedures.  Whenever a Global Note is exchanged for one or more Certificated Notes of the same series, it shall be surrendered by the Holder thereof to the Trustee and cancelled by the Trustee.  All Certificated Notes issued in exchange for a Global Note, a beneficial interest therein or a portion thereof shall be registered in such names, and delivered, as DTC shall instruct the Trustee.

 

(b)                                 Any Holder of a Global Note shall, by acceptance of such Global Note, agree that transfers of beneficial interests in such Global Note may be effected only through a book-entry system maintained by such Holder (or its agent), and that, subject to the immediately preceding paragraph, ownership of a beneficial interest in the Notes represented thereby shall be required to be reflected in book-entry form.  Transfers of a Global Note shall be limited to transfers in whole and not in part, to DTC, its successors and their respective nominees.  Interests of beneficial owners in a Global Note shall be transferred in accordance with the rules and procedures of DTC (or its successors).

 

ARTICLE IV

 

LEGENDS

 

SECTION 4.01.                                   Legends.  Each Global Note shall bear the following legends on the face thereof:

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR

 

12

 

PAYMENT AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

UNLESS AND UNTIL THIS CERTIFICATE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS CERTIFICATE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO DTC OR ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR.

 

ARTICLE V

 

TRUSTEE

 

SECTION 5.01.                                   Corporate Trust Office.  The Trustee is appointed as the principal paying agent, transfer agent and registrar for the Notes and for the purposes of Section 1002 of the Indenture.  The Notes may be presented for payment at the Corporate Trust Office of the Trustee or at any other agency as may be appointed from time to time by the Operating Partnership in The City of New York or the City of Chicago.

 

SECTION 5.02.                                   Recitals of Fact; Other Matters.

 

(a)                                 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Thirty-Fourth Supplemental Indenture or the due execution thereof by the Issuer.  The recitals of fact contained herein shall be taken as the statements solely of the Issuer and the Trustee assumes no responsibility for the correctness thereof.

 

(b)                                 The Trustee shall not be responsible or liable for any failure or delay in the performance of its obligations under the Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including without limitation, acts of God; earthquakes; fires; floods; wars; civil or military disturbances; sabotage; epidemics; riots; interruptions, loss or malfunctions of utilities, computer (hardware or software) or communications service; accidents; labor disputes; acts of civil or military authority or governmental actions; it being understood that the Trustee shall use its best efforts to resume performance as soon as practicable under the circumstances.

 

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

 

(d)                                 The Trustee may reasonably rely upon and comply with instructions or directions sent via unsecured facsimile or email transmission and the Trustee shall not be liable for any loss, liability or expense of any kind incurred by the Issuer or the Holders of the Notes due to the Trustee’s reasonable reliance upon and compliance with instructions or directions given by unsecured facsimile or email transmission, provided, however, that such losses have not arisen from the negligence or willful misconduct of the Trustee.

 

13

 

(e)                                  Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to the Indenture, the Notes or the transactions contemplated hereby or thereby.

 

SECTION 5.03.                                   Successor.  Any corporation or association into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or association to which all or substantially all of the corporate trust business of the Trustee may be sold or otherwise transferred, shall be the successor trustee hereunder without any further act.

 

ARTICLE VI

 

MISCELLANEOUS PROVISIONS

 

SECTION 6.01.                                   Ratification of Original Indenture.  This Thirty-Fourth Supplemental Indenture is executed and shall be construed as an indenture supplemental to the Original Indenture, and as supplemented and modified hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this Thirty-Fourth Supplemental Indenture shall be read, taken and construed as one and the same instrument.

 

SECTION 6.02.                                   Effect of Headings.  The Article and Section headings herein are for convenience only and shall not affect the construction hereof.

 

SECTION 6.03.                                   Successors and Assigns.  All covenants and agreements in this Thirty-Fourth Supplemental Indenture by the Issuer shall bind its successors and assigns, whether so expressed or not.

 

SECTION 6.04.                                   Separability Clause.  In case any one or more of the provisions contained in this Thirty-Fourth Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

SECTION 6.05.                                   Governing Law.  This Thirty-Fourth Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York.  This Thirty-Fourth Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of this Thirty-Fourth Supplemental Indenture and shall, to the extent applicable, be governed by such provisions.

 

SECTION 6.06.                                   Counterparts.  This Thirty-Fourth Supplemental Indenture may be executed in any number of counterparts, and each of such counterparts shall for all purposes be deemed to be an original, but all such counterparts shall together constitute one and the same instrument.

 

* * * *

 

14

 

IN WITNESS WHEREOF, the parties hereto have caused this Thirty-Fourth Supplemental Indenture to be duly executed all as of the date first above written.

 

	
 
    	
SIMON PROPERTY GROUP, L.P.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
Simon   Property Group, Inc.,
    
	
 
    	
 
    	
its   sole General Partner
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Andrew A. Juster
    
	
 
    	
 
    	
Name:
    	
Andrew   A. Juster
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President and
    
	
 
    	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,   as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard Tarnas
    
	
 
    	
 
    	
Name:   Richard Tarnas
    
	
 
    	
 
    	
Title:   Vice President
    

 

 

Exhibit A

 

FORM OF GLOBAL NOTE

 

[FACE OF GLOBAL NOTE]

 

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

 

UNLESS AND UNTIL THIS CERTIFICATE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS CERTIFICATE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO DTC OR ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR.

 

	
REGISTERED
    	
REGISTERED
    
	
NO. [ ]
    	
PRINCIPAL AMOUNT
    
	
CUSIP NO. [828807 CX3/828807 CW5]
    	
$[]
    
	
ISIN NO. [US828807CX32/US828807CW58]
    	
 
    

 

SIMON PROPERTY GROUP, L.P.

 

[2.500%/3.300%] Note due [2021/2026]

 

Simon Property Group, L.P., a Delaware limited partnership (the “Issuer,” which term includes any successor under the Indenture (as defined below)), for value received, hereby promises to pay to Cede & Co. or its registered assigns, the principal amount of [PRINCIPAL AMOUNT IN WORDS] dollars on [July 15, 2021/ January 15, 2026] (the “Maturity Date”), unless earlier redeemed as described on the reverse hereof, and to pay interest on the outstanding principal amount hereof from and including January 13, 2016, semi-annually in arrears on January 15 and July 15 of each year (each, an “Interest Payment Date”), commencing on July 15, 2016, at the rate of [2.500%/3.300%] per annum, until payment of said principal amount has been made or duly provided for.

 

The interest so payable and punctually paid or duly provided for on any Interest Payment Date shall be paid to the Holder in whose name this Note (or one or more predecessor Notes) is registered in the Security Register applicable to this Note at the close of business on the “Record Date” for such payment, which shall be the 15th calendar day immediately prior to such Interest Payment Date, regardless of whether such day is a Business Day (as defined below).  Any interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may be paid to the Holder in whose name this Note (or one or more predecessor Notes) is registered at the close of business on a subsequent record date for the payment of such defaulted interest (which shall not be

 

A-1

 

more than 15 calendar days and less than 10 calendar days prior to the date of the payment of such defaulted interest) established by notice given by mail by or on behalf of the Issuer to the Holders of the Notes not less than 10 calendar days preceding such subsequent record date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.  Interest on this Note shall be computed on the basis of a 360-day year of twelve 30-day months.

 

Interest payable on this Note on any Interest Payment Date or, if applicable, on the date of redemption shall be the amount of interest accrued from and including the immediately preceding Interest Payment Date (or from and including January 13, 2016, in the case of the initial period) to but excluding the applicable Interest Payment Date or date of redemption, as the case may be.  If any date for the payment of principal of, or premium, if any, interest on, or any other amount with respect to, this Note (each, a “Payment Date”) falls on a day that is not a Business Day, the principal, premium, if any, or interest payable with respect to such Payment Date shall be made on the next succeeding Business Day with the same force and effect as if made on such Payment Date, and no interest shall accrue on the amount so payable for the period from and after such Payment Date to such next succeeding Business Day.  “Business Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close.

 

The principal of this Note payable on the Maturity Date or the principal, premium, if any, and interest, if any, payable on any earlier date of redemption shall be paid against presentation and surrender of this Note at the office or agency of the Issuer maintained for that purpose in The Borough of Manhattan, The City of New York or The City of Chicago.  The Issuer hereby initially designates the Corporate Trust Office of the Trustee in The City of New York as the office to be maintained by it where Notes may be presented for payment, registration of transfer or exchange, and where notices to or demands upon the Issuer in respect of the Notes or the Indenture referred to on the reverse hereof may be served.

 

Payments of principal, premium, if any, and interest in respect of this Note shall be made by wire transfer of immediately available funds in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts.

 

Reference is made to the further provisions of this Note set forth on the reverse hereof after the Trustee’s Certificate of Authentication.  Such further provisions shall for all purposes have the same effect as though fully set forth at this place.

 

This Note shall not be entitled to the benefits of the Indenture or be valid or obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Trustee under such Indenture.

 

A-2

 

IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed manually or by facsimile by its authorized officers.

 

	
Dated: January 13,   2016
    	
 
    
	
 
    	
 
    
	
 
    	
SIMON PROPERTY GROUP, L.P.,
    
	
 
    	
as Issuer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
SIMON PROPERTY   GROUP, INC.
    
	
 
    	
 
    	
its sole General   Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
Attest:
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    

 

A-3

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

	
 
    	
THE BANK OF NEW YORK MELLON
    
	
 
    	
TRUST COMPANY, N.A.,
    
	
 
    	
as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Officer
    

 

A-4

 

[REVERSE OF NOTE]

 

SIMON PROPERTY GROUP, L.P.

 

[2.500%/3.300%] Note due [2021/2026]

 

This security is one of a duly authorized issue of debt securities of the Issuer (hereinafter called the “Securities”), issued or to be issued under and pursuant to an Indenture dated as of November 26, 1996 (herein called the “Indenture”), duly executed and delivered by the Issuer to The Bank of New York Mellon Trust Company, N.A. (as successor to The Chase Manhattan Bank), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture with respect to the series of Securities of which this Note is a part), to which Indenture and all indentures supplemental thereto relating to this Note (including, without limitation, the Thirty-Fourth Supplemental Indenture, dated as of January 13, 2016, between the Issuer and the Trustee) reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Issuer and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered and for the definition of capitalized terms used hereby and not otherwise defined.  The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest (if any) at different rates, may be subject to different redemption provisions (if any), and may otherwise vary as provided in the Indenture or any indenture supplemental thereto.  This Security is one of a series of debt securities under the Indenture designated as the Simon Property Group, L.P. [2.500%/3.300%] Notes due [2021/2026], initially limited in aggregate principal amount to [$550,000,000/$800,000,000] (the “Notes”).

 

In case an Event of Default with respect to the Notes shall have occurred and be continuing, the principal amount of the Notes and the Make-Whole Amount may be declared, and in certain cases shall automatically be, accelerated and thereupon become due and payable, in the manner, with the effect, and subject to the conditions provided in the Indenture.

 

The Notes may be redeemed at any time at the option of the Issuer, in whole or from time to time in part, at a redemption price equal to the sum of (i) 100% of the principal amount of the Notes being redeemed plus accrued interest thereon to but excluding the Redemption Date and (ii) the Make-Whole Amount, if any, with respect to such Notes.  If the Notes are redeemed on or after [April 15, 2021 / October 15, 2025], the redemption price shall not include the Make-Whole Amount.  Notice of any optional redemption shall be given to Holders at their addresses, as shown in the Security Register for the Notes, not more than 45 nor less than 15 days prior to the date fixed for redemption.  The notice of redemption shall specify, among other items, the redemption price and the principal amount of the Notes to be redeemed.

 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority of the aggregate principal amount of the Securities at the time Outstanding of all series to be affected (voting as one class), evidenced as provided in the Indenture, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner the rights of the Holders of the Securities of each series; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security so affected, (i) change the Stated Maturity of the principal of, or premium, (if any) or any installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate or amount of interest thereon or any premium payable upon the redemption or acceleration thereof, or adversely affect any right of repayment at the option of the Holder of any Security, or change any Place of Payment where, or the currency or currencies, currency unit or units or composite currency or currencies in which, the principal of any

 

A-5

 

Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof, or (ii) reduce the aforesaid percentage of Securities the Holders of which are required to consent to any such supplemental indenture, or (iii) reduce the percentage of Securities the Holders of which are required to consent to any waiver of compliance with certain provisions of the Indenture or any waiver of certain defaults and consequences thereunder or to reduce the quorum or voting requirements set forth in the Indenture, or (iv) effect certain other changes to the Indenture or any supplemental indenture or in the rights of Holders of the Securities.  The Indenture also permits the Holders of a majority in principal amount of the Outstanding Securities of any series (or, in the case of certain defaults or Events of Default, all series of Securities), on behalf of the Holders of all the Securities of such series (or all of the Securities, as the case may be), to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults or Events of Default under the Indenture and their consequences, prior to any declaration accelerating the maturity of such Securities, or subject to certain conditions, rescind a declaration of acceleration and its consequences with respect to such Securities.  Any such consent or waiver by the Holder of this Note (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note that may be issued in exchange or substitution hereof, irrespective of whether or not any notation thereof is made upon this Note or such other Note.

 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, and premium, if any, and interest on, this Note in the manner, at the respective times, at the rate and in the coin or currency herein prescribed.

 

Notwithstanding any other provision of the Indenture to the contrary, no recourse shall be had, whether by levy or execution or otherwise, for the payment of any sums due under the Securities, including, without limitation, the principal, premium, if any, or interest payable under the Securities, or for the payment or performance of any obligation under, or for any claim based on, the Indenture or otherwise in respect thereof, against any partner of the Issuer, whether limited or general, including Simon Property Group, Inc. or such partner’s assets or against any principal, shareholder, officer, director, trustee or employee of such partner.  It is expressly understood that the sole remedies under the Securities and the Indenture, or under any other document with respect to the Securities, against such parties with respect to such amounts, obligations or claims shall be against the Issuer.

 

This Note is issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.  This Note may be exchanged for a like aggregate principal amount of Notes of the same series of other authorized denominations at the office or agency of the Issuer in The Borough of Manhattan, The City of New York or The City of Chicago, in the manner and subject to the limitations provided in the Indenture, but without the payment of any service charge, except for any tax or other governmental charge imposed in connection therewith.

 

Upon due presentment for registration of transfer of this Note at the office or agency of the Issuer in The Borough of Manhattan, The City of New York or The City of Chicago, one or more new Notes of the same series of authorized denominations in an equal aggregate principal amount shall be issued to the transferee in exchange therefor, subject to the limitations provided in the Indenture, without charge, except for any tax or other governmental charge imposed in connection therewith.

 

The Issuer, the Trustee and any authorized agent of the Issuer or the Trustee may deem and treat the Person in whose name this Note is registered as the absolute owner and Holder of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon), for the purpose of receiving payment of, or on account of, the principal hereof and any premium hereon and, subject to the provisions on the face hereof, interest hereon, and for all other purposes, and neither

 

A-6

 

the Issuer nor the Trustee nor any authorized agent of the Issuer or the Trustee shall be affected by any notice to the contrary.

 

This Note, including the validity hereof, and the Indenture shall be governed by and construed in accordance with the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of such state, except as may otherwise be required by mandatory provisions of law.

 

Capitalized terms used herein which are not otherwise defined shall have the respective meanings assigned to them in the Indenture and the Thirty-Fourth Supplemental Indenture referred to herein.

 

A-7

 

ABBREVIATIONS

 

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

 

	
TEN COM — as tenants in   common
    
	
UNIF GIFT MIN ACT —              Custodian         (Cust)
    
	
(minor) under   Uniform Gifts to Minors Act                                    (State)
    
	
TEN ENT — as tenants by   the entireties
    
	
JT TEN — as joint   tenants with right of survivorship and not as tenants in common
    

 

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

 

 

ASSIGNMENT

 

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

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

 

(Please print or typewrite name and address, including postal zip code of assignee.)

 

this Note and all rights thereunder and does hereby irrevocably constitute and appoint                          Attorney to transfer this Note on the books of the Trustee, with full power of substitution in the premises.

 

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Notice: The   signature(s) on this Assignment must correspond with the name(s) as   written upon the face of this Note in every particular, without alteration or   enlargement or any change whatsoever
    

 

A-8

 

Exhibit B

 

FORM OF CERTIFICATED NOTE

 

[FACE OF CERTIFICATED NOTE]

 

	
REGISTERED
    	
 
    	
REGISTERED
    
	
NO. [ ]
    	
 
    	
PRINCIPAL AMOUNT
    
	
 
    	
 
    	
$[]
    

 

SIMON PROPERTY GROUP, L.P.

 

[2.500%/3.300%] Note due [2021/2026]

 

Simon Property Group, L.P., a Delaware limited partnership (the “Issuer,” which term includes any successor under the Indenture (as defined below)), for value received, hereby promises to pay to Cede & Co. or its registered assigns, the principal amount of [PRINCIPAL AMOUNT IN WORDS] dollars on [July 15, 2021/ January 15, 2026] (the “Maturity Date”), unless earlier redeemed as described on the reverse hereof, and to pay interest on the outstanding principal amount hereof from and including January 13, 2016, semi-annually in arrears on January 15 and July 15 of each year (each, an “Interest Payment Date”), commencing on July 15, 2016, at the rate of [2.500%/3.300%] per annum, until payment of said principal amount has been made or duly provided for.

 

The interest so payable and punctually paid or duly provided for on any Interest Payment Date shall be paid to the Holder in whose name this Note (or one or more predecessor Notes) is registered in the Security Register applicable to this Note at the close of business on the “Record Date” for such payment, which shall be the 15th calendar day immediately prior to such Interest Payment Date, regardless of whether such day is a Business Day (as defined below).  Any interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may be paid to the Holder in whose name this Note (or one or more predecessor Notes) is registered at the close of business on a subsequent record date for the payment of such defaulted interest (which shall not be more than 15 calendar days and less than 10 calendar days prior to the date of the payment of such defaulted interest) established by notice given by mail by or on behalf of the Issuer to the Holders of the Notes not less than 10 calendar days preceding such subsequent record date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.  Interest on this Note shall be computed on the basis of a 360-day year of twelve 30-day months.

 

Interest payable on this Note on any Interest Payment Date or, if applicable, on the date of redemption shall be the amount of interest accrued from and including the immediately preceding Interest Payment Date (or from and including January 13, 2016, in the case of the initial period) to but excluding the applicable Interest Payment Date or date of redemption, as the case may be.  If any date for the payment of principal of, or premium, if any, interest on, or any other amount with respect to, this Note (each, a “Payment Date”) falls on a day that is not a Business Day, the principal, premium, if any, or interest payable with respect to such Payment Date shall be made on the next succeeding Business Day with the same force and effect as if made on such Payment Date, and no interest shall accrue on the amount so payable for the period from and after such Payment Date to such next succeeding Business

 

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Day.  “Business Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close.

 

The principal of this Note payable on the Maturity Date or the principal, premium, if any, and interest, if any, payable on any earlier date of redemption shall be paid against presentation and surrender of this Note at the office or agency of the Issuer maintained for that purpose in The Borough of Manhattan, The City of New York or The City of Chicago.  The Issuer hereby initially designates the Corporate Trust Office of the Trustee in The City of New York as the office to be maintained by it where Notes may be presented for payment, registration of transfer or exchange, and where notices to or demands upon the Issuer in respect of the Notes or the Indenture referred to on the reverse hereof may be served.

 

Payments of principal, premium, if any, and interest in respect of this Note shall be made by wire transfer of immediately available funds in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts.

 

Reference is made to the further provisions of this Note set forth on the reverse hereof after the Trustee’s Certificate of Authentication.  Such further provisions shall for all purposes have the same effect as though fully set forth at this place.

 

This Note shall not be entitled to the benefits of the Indenture or be valid or obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by the Trustee under such Indenture.

 

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IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed manually or by facsimile by its authorized officers.

 

Dated:  January 13, 2016

 

	
 
    	
 
    	
SIMON PROPERTY GROUP, L.P.,
    
	
 
    	
 
    	
as Issuer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By: 
    	
SIMON PROPERTY   GROUP, INC.
    
	
 
    	
 
    	
 
    	
its sole General   Partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
 
    	
Title:
    
	
 
    	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    	
 
    

 

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TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

	
 
    	
THE BANK OF NEW YORK MELLON
    
	
 
    	
TRUST COMPANY, N.A.,
    
	
 
    	
as Trustee
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Officer
    

 

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[REVERSE OF NOTE]

 

SIMON PROPERTY GROUP, L.P.

 

[2.500%/3.300%] Note due [2021/2026]

 

This security is one of a duly authorized issue of debt securities of the Issuer (hereinafter called the “Securities”), issued or to be issued under and pursuant to an Indenture dated as of November 26, 1996 (herein called the “Indenture”), duly executed and delivered by the Issuer to The Bank of New York Mellon Trust Company, N.A. (as successor to The Chase Manhattan Bank), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture with respect to the series of Securities of which this Note is a part), to which Indenture and all indentures supplemental thereto relating to this Note (including, without limitation, the Thirty-Fourth Supplemental Indenture, dated as of January 13, 2016, between the Issuer and the Trustee) reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Issuer and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered and for the definition of capitalized terms used hereby and not otherwise defined.  The Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest (if any) at different rates, may be subject to different redemption provisions (if any), and may otherwise vary as provided in the Indenture or any indenture supplemental thereto.  This Security is one of a series of debt securities under the Indenture designated as the Simon Property Group, L.P. [2.500%/3.300%] Notes due [2021/2026], initially limited in aggregate principal amount to [$550,000,000/$800,000,000] (the “Notes”).

 

In case an Event of Default with respect to the Notes shall have occurred and be continuing, the principal amount of the Notes and the Make-Whole Amount may be declared, and in certain cases shall automatically be, accelerated and thereupon become due and payable, in the manner, with the effect, and subject to the conditions provided in the Indenture.

 

The Notes may be redeemed at any time at the option of the Issuer, in whole or from time to time in part, at a redemption price equal to the sum of (i) 100% of the principal amount of the Notes being redeemed plus accrued interest thereon to but excluding the Redemption Date and (ii) the Make-Whole Amount, if any, with respect to such Notes.  If the Notes are redeemed on or after [April 15, 2021 / October 15, 2025], the redemption price shall not include the Make-Whole Amount.  Notice of any optional redemption shall be given to Holders at their addresses, as shown in the Security Register for the Notes, not more than 45 nor less than 15 days prior to the date fixed for redemption.  The notice of redemption shall specify, among other items, the redemption price and the principal amount of the Notes to be redeemed.

 

The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the Holders of not less than a majority of the aggregate principal amount of the Securities at the time Outstanding of all series to be affected (voting as one class), evidenced as provided in the Indenture, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner the rights of the Holders of the Securities of each series; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security so affected, (i) change the Stated Maturity of the principal of, or premium, (if any) or any installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate or amount of interest thereon or any premium payable upon the redemption or acceleration thereof, or adversely affect any right of repayment at the option of the Holder of any Security, or change any Place of Payment where, or the currency or currencies, currency unit or units or composite currency or currencies in which, the principal of any

 

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Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof, or (ii) reduce the aforesaid percentage of Securities the Holders of which are required to consent to any such supplemental indenture, or (iii) reduce the percentage of Securities the Holders of which are required to consent to any waiver of compliance with certain provisions of the Indenture or any waiver of certain defaults and consequences thereunder or to reduce the quorum or voting requirements set forth in the Indenture, or (iv) effect certain other changes to the Indenture or any supplemental indenture or in the rights of Holders of the Securities.  The Indenture also permits the Holders of a majority in principal amount of the Outstanding Securities of any series (or, in the case of certain defaults or Events of Default, all series of Securities), on behalf of the Holders of all the Securities of such series (or all of the Securities, as the case may be), to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults or Events of Default under the Indenture and their consequences, prior to any declaration accelerating the maturity of such Securities, or subject to certain conditions, rescind a declaration of acceleration and its consequences with respect to such Securities.  Any such consent or waiver by the Holder of this Note (unless revoked as provided in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note that may be issued in exchange or substitution hereof, irrespective of whether or not any notation thereof is made upon this Note or such other Note.

 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of, and premium, if any, and interest on, this Note in the manner, at the respective times, at the rate and in the coin or currency herein prescribed.

 

Notwithstanding any other provision of the Indenture to the contrary, no recourse shall be had, whether by levy or execution or otherwise, for the payment of any sums due under the Securities, including, without limitation, the principal, premium, if any, or interest payable under the Securities, or for the payment or performance of any obligation under, or for any claim based on, the Indenture or otherwise in respect thereof, against any partner of the Issuer, whether limited or general, including Simon Property Group, Inc. or such partner’s assets or against any principal, shareholder, officer, director, trustee or employee of such partner.  It is expressly understood that the sole remedies under the Securities and the Indenture, or under any other document with respect to the Securities, against such parties with respect to such amounts, obligations or claims shall be against the Issuer.

 

This Note is issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.  This Note may be exchanged for a like aggregate principal amount of Notes of the same series of other authorized denominations at the office or agency of the Issuer in The Borough of Manhattan, The City of New York or The City of Chicago, in the manner and subject to the limitations provided in the Indenture, but without the payment of any service charge, except for any tax or other governmental charge imposed in connection therewith.

 

Upon due presentment for registration of transfer of this Note at the office or agency of the Issuer in The Borough of Manhattan, The City of New York or The City of Chicago, one or more new Notes of the same series of authorized denominations in an equal aggregate principal amount shall be issued to the transferee in exchange therefor, subject to the limitations provided in the Indenture, without charge, except for any tax or other governmental charge imposed in connection therewith.

 

The Issuer, the Trustee and any authorized agent of the Issuer or the Trustee may deem and treat the Person in whose name this Note is registered as the absolute owner and Holder of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon), for the purpose of receiving payment of, or on account of, the principal hereof and any premium hereon and, subject to the provisions on the face hereof, interest hereon, and for all other purposes, and neither

 

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the Issuer nor the Trustee nor any authorized agent of the Issuer or the Trustee shall be affected by any notice to the contrary.

 

This Note, including the validity hereof, and the Indenture shall be governed by and construed in accordance with the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of such state, except as may otherwise be required by mandatory provisions of law.

 

Capitalized terms used herein which are not otherwise defined shall have the respective meanings assigned to them in the Indenture and the Thirty-Fourth Supplemental Indenture referred to herein.

 

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ABBREVIATIONS

 

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

 

TEN COM — as tenants in common

UNIF GIFT MIN ACT —             Custodian       (Cust)

(minor) under Uniform Gifts to Minors Act                                (State)

TEN ENT — as tenants by the entireties

JT TEN — as joint tenants with right of survivorship and not as tenants in common

 

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

 

 

ASSIGNMENT

 

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

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

 

(Please print or typewrite name and address, including postal zip code of assignee.)

 

this Note and all rights thereunder and does hereby irrevocably constitute and appoint                         Attorney to transfer this Note on the books of the Trustee, with full power of substitution in the premises.

 

 

	
Dated:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Notice:    The   signature(s) on this Assignment must correspond with the name(s) as   written upon the face of this Note in every particular, without alteration or   enlargement or any change whatsoever
    

 

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