Document:

EX-4.10

 Exhibit 4.10 

SYNLOGIC, INC. 
 Issuer 

AND 

[    ] Trustee 

INDENTURE 
 Dated as of
[     ] 
 Subordinated Debt Securities 

 CROSS-REFERENCE TABLE (1) 

 

					
	
Section of Trust
Indenture Act of
1939, as 
Amended
	  	Section of
Indenture	 
	 310(a).
	  	 	7.09	 
	 310(b).
	  	 	7.08	 
		  	 	7.10	 
	 310(c).
	  	 	Inapplicable	 
	 311(a).
	  	 	7.13(a)	 
	 311(b).
	  	 	7.13(b)	 
	 311(c).
	  	 	Inapplicable	 
	 312(a).
	  	 	5.02(a)	 
	 312(b).
	  	 	5.02(b)	 
	 312(c).
	  	 	5.02(c)	 
	 313(a).
	  	 	5.04(a)	 
	 313(b).
	  	 	5.04(a)	 
	 313(c).
	  	 	5.04(a)	 
		  	 	5.04(b)	 
	 313(d).
	  	 	5.04(b)	 
	 314(a).
	  	 	5.03	 
	 314(b).
	  	 	Inapplicable	 
	 314(c).
	  	 	13.06	 
	 314(d).
	  	 	Inapplicable	 
	 314(e).
	  	 	13.06	 
	 314(f).
	  	 	Inapplicable	 
	 315(a).
	  	 	7.01(a)	 
		  	 	7.02	 
	 315(b).
	  	 	6.07	 
	 315(c).
	  	 	7.01	 
	 315(d).
	  	 	7.01(b)	 
		  	 	7.01(c)	 
	 315(e).
	  	 	6.07	 
	 316(a).
	  	 	6.06	 
		  	 	8.04	 
	 316(b).
	  	 	6.04	 
	 316(c).
	  	 	8.01	 
	 317(a).
	  	 	6.02	 
	 317(b).
	  	 	4.03	 
	 318(a).
	  	 	13.08	 

  

	(1)	 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the
interpretation of any of its terms or provisions. 

  
 i 

 TABLE OF CONTENTS (2) 

 

							
	 	  	Page	 
		
	ARTICLE I DEFINITIONS	  	 	1	 
			
	 SECTION 1.01
	  	 Definitions of Terms
	  	 	1	 
		
	ARTICLE II ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	  	 	4	 
			
	 SECTION 2.01
	  	 Designation and Terms of Securities
	  	 	4	 
	 SECTION 2.02
	  	 Form of Securities and Trustee’s Certificate
	  	 	5	 
	 SECTION 2.03
	  	 Denominations: Provisions for Payment
	  	 	6	 
	 SECTION 2.04
	  	 Execution and Authentications
	  	 	7	 
	 SECTION 2.05
	  	 Registration of Transfer and Exchange
	  	 	7	 
	 SECTION 2.06
	  	 Temporary Securities
	  	 	8	 
	 SECTION 2.07
	  	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	9	 
	 SECTION 2.08
	  	 Cancellation
	  	 	9	 
	 SECTION 2.09
	  	 Benefits of Indenture
	  	 	9	 
	 SECTION 2.10
	  	 Authenticating Agent
	  	 	10	 
	 SECTION 2.11
	  	 Global Securities
	  	 	10	 
		
	ARTICLE III REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	  	 	11	 
			
	 SECTION 3.01
	  	 Redemption
	  	 	11	 
	 SECTION 3.02
	  	 Notice of Redemption
	  	 	11	 
	 SECTION 3.03
	  	 Payment Upon Redemption
	  	 	12	 
	 SECTION 3.04
	  	 Sinking Fund
	  	 	12	 
	 SECTION 3.05
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	 	12	 
	 SECTION 3.06
	  	 Redemption of Securities for Sinking Fund
	  	 	13	 
		
	ARTICLE IV COVENANTS	  	 	13	 
			
	 SECTION 4.01
	  	 Payment of Principal, Premium and Interest
	  	 	13	 
	 SECTION 4.02
	  	 Maintenance of Office or Agency
	  	 	13	 
	 SECTION 4.03
	  	 Paying Agents
	  	 	13	 
	 SECTION 4.04
	  	 Appointment to Fill Vacancy in Office of Trustee
	  	 	14	 
	 SECTION 4.05
	  	 Compliance with Consolidation Provisions
	  	 	14	 
		
	ARTICLE V SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  	 	14	 
			
	 SECTION 5.01
	  	 Company to Furnish Trustee Names and Addresses of
Securityholders
	  	 	14	 
	 SECTION 5.02
	  	 Preservation of Information; Communications with
Securityholders
	  	 	15	 
	 SECTION 5.03
	  	 Reports by the Company
	  	 	15	 
	 SECTION 5.04
	  	 Reports by the Trustee
	  	 	15	 
		
	ARTICLE VI REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	  	 	16	 
			
	 SECTION 6.01
	  	 Events of Default
	  	 	16	 
	 SECTION 6.02
	  	 Collection of Indebtedness and Suits for Enforcement by
Trustee
	  	 	17	 
	 SECTION 6.03
	  	 Application of Moneys Collected
	  	 	18	 
	 SECTION 6.04
	  	 Limitation on Suits
	  	 	19	 
	 SECTION 6.05
	  	 Rights and Remedies Cumulative; Delay or Omission Not
Waiver
	  	 	19	 

  
 ii 

							
	 SECTION 6.06
	  	 Control by Securityholders
	  	 	19	 
	 SECTION 6.07
	  	 Undertaking to Pay Costs
	  	 	20	 
		
	ARTICLE VII CONCERNING THE TRUSTEE	  	 	20	 
			
	 SECTION 7.01
	  	 Certain Duties and Responsibilities of Trustee
	  	 	20	 
	 SECTION 7.02
	  	 Certain Rights of Trustee
	  	 	21	 
	 SECTION 7.03
	  	 Trustee Not Responsible for Recitals or Issuance of
Securities
	  	 	22	 
	 SECTION 7.04
	  	 May Hold Securities
	  	 	22	 
	 SECTION 7.05
	  	 Moneys Held in Trust
	  	 	23	 
	 SECTION 7.06
	  	 Compensation and Reimbursement
	  	 	23	 
	 SECTION 7.07
	  	 Reliance on Officers’ Certificate
	  	 	23	 
	 SECTION 7.08
	  	 Disqualification; Conflicting Interests
	  	 	23	 
	 SECTION 7.09
	  	 Corporate Trustee Required; Eligibility
	  	 	23	 
	 SECTION 7.10
	  	 Resignation and Removal; Appointment of Successor
	  	 	24	 
	 SECTION 7.11
	  	 Acceptance of Appointment By Successor
	  	 	25	 
	 SECTION 7.12
	  	 Merger, Conversion, Consolidation or Succession to
Business
	  	 	26	 
	 SECTION 7.13
	  	 Preferential Collection of Claims Against the Company
	  	 	26	 
		
	ARTICLE VIII CONCERNING THE SECURITYHOLDERS	  	 	26	 
			
	 SECTION 8.01
	  	 Evidence of Action by Securityholders
	  	 	26	 
	 SECTION 8.02
	  	 Proof of Execution by Securityholders
	  	 	27	 
	 SECTION 8.03
	  	 Who May be Deemed Owners
	  	 	27	 
	 SECTION 8.04
	  	 Certain Securities Owned by Company Disregarded
	  	 	27	 
	 SECTION 8.05
	  	 Actions Binding on Future Securityholders
	  	 	27	 
	 SECTION 8.06
	  	 Purposes for Which Meetings May Be Called
	  	 	28	 
	 SECTION 8.07
	  	 Call Notice and Place of Meetings
	  	 	28	 
	 SECTION 8.08
	  	 Persons Entitled To Vote at Meetings
	  	 	28	 
	 SECTION 8.09
	  	 Quorum; Action
	  	 	28	 
	 SECTION 8.10
	  	 Determination of Voting Rights; Conduct and Adjournment of
Meetings
	  	 	29	 
	 SECTION 8.11
	  	 Counting Votes and Recording Action of Meetings
	  	 	29	 
		
	ARTICLE IX SUPPLEMENTAL INDENTURES	  	 	30	 
			
	 SECTION 9.01
	  	 Supplemental Indentures Without the Consent of
Securityholders
	  	 	30	 
	 SECTION 9.02
	  	 Supplemental Indentures With Consent of Securityholders
	  	 	30	 
	 SECTION 9.03
	  	 Effect of Supplemental Indentures
	  	 	31	 
	 SECTION 9.04
	  	 Securities Affected by Supplemental Indentures
	  	 	31	 
	 SECTION 9.05
	  	 Execution of Supplemental Indentures
	  	 	31	 
		
	ARTICLE X SUCCESSOR ENTITY	  	 	32	 
			
	 SECTION 10.01
	  	 Company May Consolidate, Etc.
	  	 	32	 
	 SECTION 10.02
	  	 Successor Entity Substituted
	  	 	32	 
	 SECTION 10.03
	  	 Evidence of Consolidation, Etc. to Trustee
	  	 	32	 
		
	ARTICLE XI SATISFACTION AND DISCHARGE	  	 	33	 
			
	 SECTION 11.01
	  	 Satisfaction and Discharge of Indenture
	  	 	33	 
	 SECTION 11.02
	  	 Discharge of Obligations
	  	 	33	 
	 SECTION 11.03
	  	 Deposited Moneys to be Held in Trust
	  	 	33	 
	 SECTION 11.04
	  	 Payment of Moneys Held by Paying Agents
	  	 	33	 
	 SECTION 11.05
	  	 Repayment to Company
	  	 	34	 
		
	ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  	 	34	 

  
 iii 

							
			
	 SECTION 12.01
	  	 No Recourse
	  	 	34	 
		
	ARTICLE XIII MISCELLANEOUS PROVISIONS	  	 	34	 
			
	 SECTION 13.01
	  	 Effect on Successors and Assigns
	  	 	34	 
	 SECTION 13.02
	  	 Actions by Successor
	  	 	34	 
	 SECTION 13.03
	  	 Surrender of Company Powers
	  	 	34	 
	 SECTION 13.04
	  	 Notices
	  	 	35	 
	 SECTION 13.05
	  	 Governing Law
	  	 	35	 
	 SECTION 13.06
	  	 Treatment of Securities as Debt
	  	 	35	 
	 SECTION 13.07
	  	 Compliance Certificates and Opinions
	  	 	35	 
	 SECTION 13.08
	  	 Payments on Business Days
	  	 	35	 
	 SECTION 13.09
	  	 Conflict with Trust Indenture Act
	  	 	36	 
	 SECTION 13.10
	  	 Counterparts
	  	 	36	 
	 SECTION 13.11
	  	 Separability
	  	 	36	 
	 SECTION 13.12
	  	 Assignment
	  	 	36	 
		
	ARTICLE XIV SUBORDINATION OF SECURITIES	  	 	36	 
			
	 SECTION 14.01
	  	 Subordination Terms
	  	 	36	 

  

	(2)	 This Table of Contents does not constitute part of the Indenture and shall not have any bearing on the
interpretation of any of its terms or provisions. 

  
 iv 

 INDENTURE, dated as of [    ], by and between Synlogic, Inc., a
Delaware corporation (the “Company”), and [    ], as trustee (the “Trustee”): 
 WHEREAS, for its
lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of subordinated debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate
principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee; 

WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly
authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the
holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 
 
ARTICLE 
I 
 DEFINITIONS 
 SECTION 1.01
 Definitions of Terms. 
 The terms defined in this Section (except as in this Indenture otherwise expressly provided or unless the
context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used
in this Indenture that are defined in the Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein otherwise expressly provided or unless the context otherwise
requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument. 

“Authenticating Agent” means an authenticating agent with respect to all or any of the series of Securities appointed with respect
to all or any series of the Securities by the Trustee pursuant to Section 2.10. 
 “Bankruptcy Law” means Title 11, U.S.
Code, or any similar federal or state law for the relief of debtors. 
 “Board of Directors” means the Board of Directors of the
Company or any duly authorized committee of such Board. 
 “Board Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 

“Business Day” means, with respect to any series of Securities, any day other than a day on which Federal or State banking
institutions in the Borough of Manhattan, the City and State of New York, are authorized or obligated by law, executive order or regulation to close. 

“Certificate” means a certificate signed by the principal executive officer, the principal financial officer or the principal
accounting officer of the Company. The Certificate need not comply with the provisions of Section 13.07. 
 “Commission”
means the Securities and Exchange Commission. 

  
 1 

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

“Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall be
principally administered, which office at the date hereof is located at [    ], except that whenever a provision herein refers to an office or agency of the Trustee in the Borough of Manhattan, the City and State of New York,
such office is located, at the date hereof, at [    ]. 
 “Custodian” means any receiver, trustee, assignee,
liquidator, or similar official under any Bankruptcy Law. 
 “Default” means an event which is, or after notice or lapse of time,
or both, would constitute an Event of Default. 
 “Depositary” means, with respect to Securities of any series, for which the
Company shall determine that such Securities will be issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable
statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01 or Section 2.11. 

“Event of Default” means, with respect to Securities of a particular series, any event specified in Section 6.01, continued for
the period of time, if any, therein designated. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Global Security” means, with respect to any series of Securities, a Security executed by the Company and delivered by the Trustee
to the Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture, which shall be registered in the name of the Depositary or its nominee. 

“Governmental Obligations” means securities that are (i) direct obligations of the United States of America for the payment of
which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is unconditionally guaranteed as a full
faith and credit obligation by the United States of America that, in either case, are non-callable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined
in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for
the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt. 

“herein,” “hereof” and “hereunder,” and other words of similar import, refer to this Indenture as a whole and
not to any particular Article, Section or other subdivision. 
 “Indenture” means this instrument as originally executed or
as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof. 

“Interest Payment Date,” when used with respect to any installment of interest on a Security of a particular series, means the date
specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable. 

“Officers’ Certificate” means a certificate signed by the President or a Vice President and by the Chief Financial Officer,
Vice President of Finance, the Treasurer or an Assistant Treasurer or the Controller or an Assistant Controller or the Secretary or an Assistant Secretary of the Company that is delivered to the Trustee in accordance with the terms hereof.
Certificate shall include the statements provided for in Section 13.07, if and to the extent required by the provisions thereof. 

  
 2 

 “Opinion of Counsel” means a written opinion of counsel, who may be counsel to the
Company (and may include directors or employees of the Company) and which opinion is acceptable to the Trustee which acceptance shall not be unreasonably withheld. 

“Outstanding”, when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of
any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore canceled by the Trustee or any paying agent, or delivered to the Trustee or any
paying agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited in trust with
the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities or portions of such
Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article III provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and
(c) Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07. 

“Person” means any individual, corporation, limited liability company, partnership, joint-venture, association, joint-stock company,
trust, estate, unincorporated organization or government or any agency or political subdivision thereof. 
 “Predecessor Security”
of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under
Section 2.07 in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 

“Responsible Officer,” when used with respect to the Trustee, means any officer of the Trustee, including any vice president,
assistant vice president, secretary, assistant secretary, the treasurer, any assistant treasurer, the managing director or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated
officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Securities” means the debt Securities authenticated and delivered under this Indenture. 

“Security Register” has the meaning specified in Section 2.05. 

“Security Registrar” has the meaning specified in Section 2.05. 

“Securityholder,” “holder of Securities,” “registered holder,” or other similar term, means the Person or
Persons in whose name or names a particular Security shall be registered in the Security Register. 
 “Subsidiary” means, with
respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its
Subsidiaries, (ii) any general partnership, joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such
Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner. 

“Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean such successor Trustee. The term “Trustee” as used with respect to a particular series of the Securities shall
mean the trustee with respect to that series. 

  
 3 

 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, subject
to the provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of this instrument; provided, however, that in the event the Trust Indenture Act is amended after such date, Trust Indenture Act means, to the extent required
by such amendment, the Trust Indenture Act of 1939, as so amended, or any successor statute. 
 “Voting Stock,” as applied to any
Person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other
than shares, interests, participations or other equivalents having such power only by reason of the occurrence of a contingency. 
 
ARTICLE II 
 ISSUE, DESCRIPTION, TERMS, EXECUTION, 

REGISTRATION AND EXCHANGE OF SECURITIES 
 
SECTION 2.01 Designation and Terms of Securities. 
  

	 	(a)	 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is
unlimited. The Securities may be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution of the Company or pursuant to one or more indentures
supplemental hereto. Prior to the initial issuance of Securities of a given series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officers’ Certificate of the Company, or established in one
or more indentures supplemental hereto: 

  

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

  

	 	(2)	 the aggregate principal amount of the Securities of such series initially to be issued and any limit upon the
aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of that series); 

  

	 	(3)	 the currency or units based on or relating to currencies in which debt securities of such series are
denominated and the currency or units in which principal or interest or both will or may be payable; 

  

	 	(4)	 the date or dates on which the principal of the Securities of the series is payable and the place(s) of
payment; 

  

	 	(5)	 the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of
such rate or rates, if any; 

  

	 	(6)	 the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will
be payable or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates or the method for determining
such dates; 

  

	 	(7)	 the right, if any, to extend the interest payment periods or to defer the payment of interest and the duration
of such extension; 

  

	 	(8)	 the period or periods within which, the price or prices at which and the terms and conditions upon which,
Securities of the series may be redeemed, in whole or in part, at the option of the Company; 

  
 4 

	 	(9)	 the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking
fund or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions
upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

  

	 	(10)	 whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;

  

	 	(11)	 the form of the Securities of the series including the form of the Certificate of Authentication for such
series; 

  

	 	(12)	 if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the
denominations in which the Securities of the series shall be issuable; 

  

	 	(13)	 any and all other terms with respect to such series (which terms shall not be inconsistent with the terms of
this Indenture, as amended by any supplemental indenture) including any terms which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of that series;

  

	 	(14)	 whether the Securities are issuable as a Global Security and, in such case, the identity of the Depositary for
such series; 

  

	 	(15)	 whether the Securities will be convertible into shares of common stock or other securities of the Company and,
if so, the terms and conditions upon which such Securities will be so convertible, including the conversion price and the conversion period; 

  

	 	(16)	 if other than the principal amount thereof, the portion of the principal amount of Securities of the series
which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 

  

	 	(17)	 any additional or different Events of Default or restrictive covenants provided for with respect to the
Securities of the series; and 

  

	 	(18)	 the subordination terms of the Securities of the series. 

All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or
pursuant to any such Board Resolution or in any indentures supplemental hereto. 
 If any of the terms of the series are established by
action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the
Officers’ Certificate of the Company setting forth the terms of the series. 
 Securities of any particular series may be issued at
various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such
interest may be payable and with different redemption dates. 
 SECTION 2.02 Form of Securities and Trustee’s
Certificate. 
 The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be
substantially of the tenor and purport as set forth in one or more indentures supplemental hereto or as provided in a Board Resolution of the Company and as set forth in an Officers’ Certificate of the Company and may

  
 5 

 
have such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as
are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Securities of that
series may be listed, or to conform to usage. 
 SECTION 2.03 Denominations: Provisions for Payment. 

The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral
multiple thereof, subject to Section 2.01(a)(12). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. The principal of and the interest on the Securities of
any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private debt, at the office or
agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. 
 The interest
installment on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is
registered at the close of business on the regular record date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular
record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. 

Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of
the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the
Company, at its election, as provided in clause (1) or clause (2) below: 
  

	 	(1)	 The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such
Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed
to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled
to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment
and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such
special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date. 

  

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

  
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 Unless otherwise set forth in a Board Resolution of the Company or one or more indentures
supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities with respect to any Interest
Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment
Date is the first day of a month, or the last day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the
fifteenth day of a month, whether or not such date is a Business Day. 
 Subject to the foregoing provisions of this Section, each Security
of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

SECTION 2.04 Execution and Authentications. 

The Securities shall be signed on behalf of the Company by its President, or one of its Vice Presidents, or its Treasurer, or one of its
Assistant Treasurers, or its Secretary, or one of its Assistant Secretaries, under its corporate seal attested by its Secretary or one of its Assistant Secretaries. Signatures may be in the form of a manual or facsimile signature. The Company may
use the facsimile signature of any Person who shall have been a President or Vice President thereof, or of any Person who shall have been a Treasurer or Assistant Treasurer thereof, or of any Person who shall have been a Secretary or Assistant
Secretary thereof, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be the President or a Vice President, the Treasurer or an Assistant Treasurer or the
Secretary or an Assistant Secretary, of the Company. The seal of the Company may be in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. The Securities may contain such
notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication. 

A Security shall not be valid or obligatory for any purpose and shall not be entitled to any benefit under this Indenture, in each case, until
authenticated with a certificate of authentication manually signed by an authorized signatory of the Trustee, or by an Authenticating Agent. Such certificate shall be conclusive evidence, and the only evidence, that the Security so authenticated has
been duly authenticated and delivered hereunder and that the Security is entitled to the benefits of this Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any
series executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by its President or any Vice President and its Secretary or any Assistant
Secretary, and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 
 In authenticating such
Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of
Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture. 
 The Trustee
shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is
not reasonably acceptable to the Trustee. 
 SECTION 2.05 Registration of Transfer and Exchange. 

 

	 	(a)	 Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company
designated for such purpose in the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or
other governmental charge 

  
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in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency
shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding. 

 

	 	(b)	 The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough
of Manhattan, the City and State of New York, or such other location designated by the Company a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe,
the Company shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and
transfer of Securities as herein provided shall be appointed as authorized by Board Resolution (the “Security Registrar”). 

Upon surrender for transfer of any Security at the office or agency of the Company designated for such purpose, the Company shall execute, the
Trustee shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal amount. 

All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so
required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized
attorney in writing. 
  

	 	(c)	 No service charge shall be made for any exchange or registration of transfer of Securities, or issue of new
Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06,
Section 3.03(b) and Section 9.04 not involving any transfer. 

  

	 	(d)	 The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during
a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day of such mailing, nor
(ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof.

 SECTION 2.06 Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver,
temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same conditions
and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary
Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, and the Trustee shall
authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive
Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series
authenticated and delivered hereunder. 

  
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 SECTION 2.07 Mutilated, Destroyed, Lost or Stolen Securities. 

In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next
succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the
applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted
Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. In
case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in
the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft, evidence to the
satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 
 Every
replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be
enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any
law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 

SECTION 2.08 Cancellation. 

All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or
any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this
Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance with
its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

SECTION 2.09 Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties
hereto and the holders of the Securities (and, with respect to the provisions of Article XIV, the holders of Senior Indebtedness, as defined in any supplement to this Indenture pursuant to Article XIV) any legal or equitable right, remedy
or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities (and,
with respect to the provisions of Article XIV, the holders of Senior Indebtedness). 

  
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 SECTION 2.10 Authenticating Agent. 

So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of Securities
which the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption thereof, and Securities
so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities by the Trustee
shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or
determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to
supervision or examination by Federal or State authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 

Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may at
any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility of
any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers
and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 

SECTION 2.11 Global Securities 
  

	 	(a)	 If the Company shall establish pursuant to Section 2.01 that some or all of the Securities of a particular
series are to be issued as a Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an
amount equal to the aggregate principal amount of, the Outstanding Securities of such series which are to be issued as a Global Security, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by
the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a legend substantially to the following effect: “Except as otherwise provided in Section 2.11 of the Indenture, this Security may be
transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 

 

	 	(b)	 Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in
whole but not in part and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor
Depositary. 

  

	 	(c)	 If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or
unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for
such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this Section 2.11 shall no longer be applicable to the Securities of such series and the
Company will execute, and subject to Section 2.05, the Trustee will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to
the principal amount of the Global Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the
provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and subject to Section 2.05, the Trustee, upon receipt of an Officers’ Certificate evidencing such
determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized 

  
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denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange of the Global
Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security
pursuant to this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The
Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered. 

ARTICLE III 

REDEMPTION OF SECURITIES AND 

SINKING FUND PROVISIONS 
 
SECTION 3.01 Redemption. 
 The Company may redeem the Securities of any series issued hereunder on and after the dates and in
accordance with the terms established for such series pursuant to Section 2.01 hereof. 
 SECTION 3.02 Notice of
Redemption. 
  

	 	(a)	 In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the
Securities of any series in accordance with the right reserved so to do, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first class postage
prepaid, a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register unless a shorter period
is specified in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to
give such notice to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or
any other series. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an
Officers’ Certificate evidencing compliance with any such restriction. 

 Each such notice of redemption shall
specify the date fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the
Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date
interest will cease to accrue and that the redemption is for a sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in whole or in
part shall specify the particular Securities to be so redeemed. In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state
that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 

 

	 	(b)	 If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 30
days’ notice in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and
fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000,

  
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the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The Company may, if and whenever it
shall so elect, by delivery of instructions signed on its behalf by its President or any Vice President, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of
redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any
such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required under the provisions of this Section. 

SECTION 3.03 Payment Upon Redemption. 
  

	 	(a)	 If the giving of notice of redemption shall have been completed as above provided, the Securities or portions
of Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption
and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such
Security or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and redeemed at the applicable redemption price
for such series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at
the close of business on the applicable record date pursuant to Section 2.03). 

  

	 	(b)	 Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute
and the Trustee shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the Company, a new Security of the same series of authorized denominations in principal amount equal
to the unredeemed portion of the Security so presented. 

 SECTION 3.04 Sinking Fund. 

The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as
otherwise specified as contemplated by Section 2.01 for Securities of such series. 
 The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to
as an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be
applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 

SECTION 3.05 Satisfaction of Sinking Fund Payments with Securities. 

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

  
 12 

 SECTION 3.06 Redemption of Securities for Sinking Fund. 

Not less than 45 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the
Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03. 

ARTICLE IV 

COVENANTS 

SECTION 4.01 Payment of Principal, Premium and Interest. 

The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Securities of that
series at the time and place and in the manner provided herein and established with respect to such Securities. 

SECTION 4.02 Maintenance of Office or Agency. 

So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the Borough of Manhattan, the
City and State of New York, with respect to each such series and at such other location or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented or surrendered for payment,
(ii) Securities of that series may be presented as herein above authorized for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may
be given or served, such designation to continue with respect to such office or agency until the Company shall, by written notice signed by its President or a Vice President and delivered to the trustee, designate some other office or agency for
such purposes or any of them. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the
Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. 
 
SECTION 4.03 Paying Agents. 
  

	 	(a)	 If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the
Trustee, the Company will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 

 

	 	(1)	 that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any)
or interest on the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto; 

 

	 	(2)	 that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities)
to make any payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable; 

  
 13 

	 	(3)	 that it will, at any time during the continuance of any failure referred to in the preceding paragraph
(a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and 

  

	 	(4)	 that it will perform all other duties of paying agent as set forth in this Indenture. 

 

	 	(b)	 If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or
before each due date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient with monies held by all other paying
agents to pay such principal (and premium, if any) or interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such
action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if
any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (an premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such
principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 

 

	 	(c)	 Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as
provided in this Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or direct any
paying agent to pay, to the Trustee all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company or such paying agent; and,
upon such payment by any paying agent to the Trustee, such paying agent shall be released from all further liability with respect to such money. 

SECTION 4.04 Appointment to Fill Vacancy in Office of Trustee. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10,
a Trustee, so that there shall at all times be a Trustee hereunder. 
 SECTION 4.05 Compliance with Consolidation
Provisions. 
 The Company will not, while any of the Securities remain Outstanding, consolidate with or merge into any other Person, in
either case where the Company is not the survivor of such transaction, or sell or convey all or substantially all of its property to any other company unless the provisions of Article X hereof are complied with. 

ARTICLE V 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

SECTION 5.01 Company to Furnish Trustee Names and Addresses of Securityholders. 

If the Company is not the Security Register, the Company will furnish or use reasonable efforts to cause to be furnished to the Trustee
(a) on each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that
the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee
may request in writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case, no
such list need be furnished for any series for which the Trustee shall be the Security Registrar. 

  
 14 

 SECTION 5.02 Preservation of Information; Communications with
Securityholders. 
  

	 	(a)	 The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names
and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received by the Trustee in its capacity as Security Registrar
(if acting in such capacity) and shall otherwise comply with Section 312(a) of the Trust Indenture Act. 

  

	 	(b)	 The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so
furnished. 

  

	 	(c)	 Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other
Securityholders with respect to their rights under this Indenture or under the Securities. 

SECTION 5.03 Reports by the Company. 
  

	 	(a)	 The Company covenants and agrees to file with the Trustee, within 15 days after the Company is required to file
the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that
the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections,
then to file with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that may be required
pursuant to Section 13 of the Exchange Act, in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; provided, however, the Company shall not be
required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the Commission. The Company also shall comply with the other provisions of Section 314(a) of the Trust Indenture Act.

  

	 	(b)	 The Company covenants and agrees to file with the Trustee and the Commission, in accordance with the
rules and regulations prescribed from to time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture as may be required
from time to time by such rules and regulations. 

  

	 	(c)	 The Company covenants and agrees to transmit by mail, first class postage prepaid, or reputable over-night
delivery service that provides for evidence of receipt, to the Securityholders, as their names and addresses appear upon the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents
and reports required to be filed by the Company pursuant to subsections (a) and (b) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 

SECTION 5.04 Reports by the Trustee. 
  

	 	(a)	 The Trustee shall transmit to holders as provided in Section 313 of the Trust Indenture Act such reports
concerning the Trustee and its actions under this Indenture as may be required by Section 313 of the Trust Indenture Act at the times and in the manner provided by the Trust Indenture Act. 

 

	 	(b)	 A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee
with the Company, with each stock exchange upon which any Securities are listed (if so listed) and, if required by Section 313 of the Trust Indenture Act, also with the Commission. The Company agrees to notify the Trustee when any Securities
become listed on any stock exchange. 

  
 15 

 ARTICLE VI 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 

SECTION 6.01 Events of Default. 
  

	 	(a)	 Whenever used herein with respect to Securities of a particular series, “Event of Default” means any
one or more of the following events that has occurred and is continuing: 

  

	 	(1)	 the Company defaults in the payment of any installment of interest upon any of the Securities of that series,
as and when the same shall become due and payable, and continuance of such default for a period of 90 days; provided, however, that a valid extension of an interest payment period by the Company in accordance with the terms of any indenture
supplemental hereto shall not constitute a default in the payment of interest for this purpose; 

  

	 	(2)	 the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that
series as and when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series; provided, however, that
a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal or premium, if any; 

 

	 	(3)	 the Company fails to observe or perform any other of its covenants or agreements with respect to that series
contained in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely for the benefit of one
or more series of Securities other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall
have been given to the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of not less than a majority in principal amount of the Securities of that series at the time Outstanding;

  

	 	(4)	 the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case,
(ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv) makes a general assignment for
the benefit of its creditors; or 

  

	 	(5)	 a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against
the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property, or (iii) orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 90
consecutive days. 

  

	 	(b)	 In each and every such case, unless the principal of all the Securities of that series shall have already
become due and payable, either the Trustee or the holders of not less than a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such
Securityholders), may declare the principal (or, if any Securities of that series are discount securities, that portion of the principal amount as may be specified in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium, if
any, on) and accrued and unpaid interest, if any, on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. Notwithstanding the foregoing,
the payment of such principal (or, if any Securities of that series are discount securities, that portion of the principal amount as may be specified in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium, if any, on) and
accrued and unpaid interest, if any, on the Securities of such series shall remain subordinated to the extent provided in Article XIV. 

  
 16 

	 	(c)	 At any time after the principal of the Securities of that series shall have been so declared due and payable,
and before a judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder (or,
by action at a meeting of holders of the Securities of such series in accordance with Section 8.09, the holders of a majority in aggregate principal amount of the Securities of such series then Outstanding represented at such meeting), by
written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the
Securities of that series and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration and (ii) any and all Events of Default under this Indenture with respect to
such series, other than the nonpayment of principal of (and premium, if any, on) and accrued and unpaid interest, if any, on Securities of that series that shall have become due solely because of such acceleration, shall have been remedied, cured or
waived as provided in Section 6.06. No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 

 

	 	(d)	 In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under
this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case, subject to any
determination in such proceedings, the Company, and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such
proceedings had been taken. 

 SECTION 6.02 Collection of Indebtedness and Suits for Enforcement by
Trustee. 
  

	 	(a)	 The Company covenants that (1) in case it shall default in the payment of any installment of interest on
any of the Securities of a series, or any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, and such default shall have continued for a period of 90
Business Days, or (2) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable, whether upon maturity of the Securities of a series or
upon redemption or upon declaration or otherwise, then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and
payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under
applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the
amount payable to the Trustee under Section 7.06. 

  

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

  

	 	(c)	 In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement,
composition or judicial proceedings affected the Company, or its creditors or 

  
 17 

	 	
property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be
entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the
Company under this Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to collect and receive any moneys or other property payable or deliverable
on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of
Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06.

  

	 	(d)	 All rights of action and of asserting claims under this Indenture, or under any of the terms established with
respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the holders of the
Securities of such series. 

 In case of an Event of Default hereunder, the Trustee may in its discretion proceed to
protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise,
whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture
or by law. 
 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of
any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in
any such proceeding. 
 SECTION 6.03 Application of Moneys Collected. 

Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, and notation thereon the
payment, if only partially paid, and upon surrender thereof if fully paid: 
  

			
	 FIRST:
	  	To the payment of costs and expenses of collection and of all amounts payable to the Trustee under Section 7.06;
		
	 SECOND:
	  	To the payment of all Senior Indebtedness of the Company if and to the extent required by Article XIV; and
		
	 THIRD:
	  	To the payment of the amounts then due and unpaid upon Securities of such series for principal (and premium, if any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without
preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any) and interest, respectively.

  
 18 

 SECTION 6.04 Limitation on Suits. 

No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit,
action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee
written notice of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than a majority in aggregate principal
amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder; (iii) such holder or holders shall have offered to the
Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; and (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have
failed to institute any such action, suit or proceeding and (v) during such 60 day period, the holders of a majority in principal amount of the Securities of that series (or such amount as shall have acted at a meeting of the holders of
Securities of such series pursuant to the provisions of this Indenture) do not give the Trustee a direction inconsistent with the request; provided, however, that no one or more of such holders may use this Indenture to prejudice the rights of
another holder or to obtain preference or priority over another holder. 
 Notwithstanding anything contained herein to the contrary, any
other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such
Security (or in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder
and by accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of
such series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority
over or preference to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the protection and
enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

SECTION 6.05 Rights and Remedies Cumulative; Delay or Omission Not Waiver. 

 

	 	(a)	 Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the
Trustee or to the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to
enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 

  

	 	(b)	 No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power
accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or on acquiescence therein; and, subject to the provisions of Section 6.04,
every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

SECTION 6.06 Control by Securityholders. 

The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with
Section 8.01, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided,
however, that such direction shall not be in conflict with any rule of law or with this Indenture or be unduly prejudicial to the rights of holders of Securities of any other series at the time Outstanding determined in accordance with
Section 8.01. Subject to the provisions of Section 7.01, the 

  
 19 

 
Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so
directed would involve the Trustee in personal liability. 
 The holders either (a) through the written consent of not less than a
majority in aggregate principal amount of the Securities of any series at the time Outstanding or (b) by action at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a majority in
aggregate principal amount of the Securities of such series then Outstanding represented at such meeting, may on behalf of the holders of all of the Securities of such series waive any past default in the performance of any of the covenants
contained herein or established pursuant to Section 2.01 with respect to such series and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when
the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the
Trustee (in accordance with Section 6.01(c)) and except in respect a provision hereof which, under Section 9.02, cannot be modified or amended without the consent of the holders of each Outstanding Security affected; provided however that
this Section shall not limit the right of holders of Securities of a series to rescind and annul any acceleration as set forth in Section 6.01. Upon any such waiver, the default covered thereby shall be deemed to be cured for all purposes
of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or
impair any right consequent thereon. The provisions which otherwise would be automatically deemed to be contained in this Indenture pursuant to Section 316(a)(1) of the Trust Indenture Act are hereby expressly excluded from this Indenture,
except to the extent such provisions are expressly included herein. 
 SECTION 6.07 Undertaking to Pay Costs. 

All parties to this Indenture agree, and each holder of any Securities by such holder’s acceptance thereof shall be deemed to have agreed,
that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good
faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than
10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on
or after the respective due dates expressed in such Security or established pursuant to this Indenture. 

ARTICLE VII 

CONCERNING THE TRUSTEE 
 
SECTION 7.01 Certain Duties and Responsibilities of Trustee. 
  

	 	(a)	 The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and
after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are specifically set forth
in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise
with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his
own affairs. 

  
 20 

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

  

	 	(1)	 prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing
or waiving of all such Events of Default with respect to that series that may have occurred: 

  

	 	(i)	 the duties and obligations of the Trustee shall with respect to the Securities of such series be determined
solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 

  

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

  

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

  

	 	(3)	 the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and 

  

	 	(4)	 None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably
assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 

 
SECTION 7.02 Certain Rights of Trustee. 
 Except as otherwise provided in Section 7.01: 

 

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

  

	 	(b)	 Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a
Board Resolution or an instrument signed in the name of the Company, by the President or any Vice President and by the Secretary or an Assistant Secretary or the Treasurer or an Assistant Treasurer thereof (unless other evidence in respect thereof
is specifically prescribed herein); 

  
 21 

	 	(c)	 The Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be
full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 

  

	 	(d)	 The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture
at the request, order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to a series of the Securities (that has not been cured or
waived) to exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs; 

  

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

  

	 	(f)	 The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do by the holders of not less than a majority in principal amount of the
Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be
incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such
costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and 

 

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

SECTION 7.03 Trustee Not Responsible for Recitals or Issuance of Securities. 

 

	 	(a)	 The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the
Trustee assumes no responsibility for the correctness of the same. 

  

	 	(b)	 The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.

  

	 	(c)	 The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of
the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application of any moneys
received by any paying agent other than the Trustee. 

 SECTION 7.04 May Hold Securities. 

The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities
with the same rights it would have if it were not Trustee, paying agent or Security Registrar. 

  
 22 

 SECTION 7.05 Moneys Held in Trust. 

Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in
trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may
agree with the Company to pay thereon. 
 SECTION 7.06 Compensation and Reimbursement. 

 

	 	(a)	 The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable
compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company, and the Trustee may from time to time agree in writing, for all services rendered by it in the
execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request
for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all
Persons not regularly in its employ) except any such expense, disbursement or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to
hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of
defending itself against any claim of liability in the premises. 

  

	 	(b)	 The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or
reimburse the Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Securities upon all property and funds held or collected
by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities. 

 
SECTION 7.07 Reliance on Officers’ Certificate. 
 Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in
respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 

SECTION 7.08 Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture
Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) 
of the Trust Indenture Act. 
 SECTION 7.09 Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and
doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission, authorized under such laws to exercise
corporate trust powers, having a combined capital and surplus of at least 50 million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State, Territorial, or District of Columbia authority. If such corporation
publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of 

  
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this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so
published. The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to be eligible in accordance with
the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 
7.10. 
 SECTION 7.10 Resignation and Removal; Appointment of Successor. 

 

	 	(a)	 The Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one
or more series by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their names and addresses appear upon the Security
Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of
which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing of such notice of
resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a
Security or Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem
proper and prescribe, appoint a successor trustee. 

  

	 	(b)	 In case at any time any one of the following shall occur: 

 

	 	(1)	 the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the
Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 

  

	 	(2)	 the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to
resign after written request therefor by the Company or by any such Securityholder; or 

  

	 	(3)	 the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a
voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of
which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, unless the Trustee’s duty to resign is stayed as provided herein, any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon
after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

  

	 	(c)	 The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding
may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the Company. 

  
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	 	(d)	 Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities
of a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

 

	 	(e)	 Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities
of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 

SECTION 7.11 Acceptance of Appointment By Successor. 

 

	 	(a)	 In case of the appointment hereunder of a successor trustee with respect to all Securities, every such
successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and
such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee
shall, upon payment of its charges, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all
property and money held by such retiring Trustee hereunder. 

  

	 	(b)	 In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but
not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such
appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor trustee relates, (2) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall
be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no
Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to
the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for
the performance of the duties and obligations vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor trustee relates. 

  

	 	(c)	 Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully
and certainly vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

 

	 	(d)	 No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee
shall be qualified and eligible under this Article. 

  
 25 

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

SECTION 7.12 Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be
qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver
the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

SECTION 7.13 Preferential Collection of Claims Against the Company. 

The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in
Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 

ARTICLE VIII 

CONCERNING THE SECURITYHOLDERS 
 
SECTION 8.01 Evidence of Action by Securityholders. 
 Whenever in this Indenture it is provided that the holders of a majority or
specified percentage in aggregate principal amount of the Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact
that at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of
Securities of that series in Person or by agent or proxy appointed in writing. 
 If the Company shall solicit from the Securityholders of
any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of
Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization,
direction, notice, consent, waiver or other action may be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining
whether Securityholders of the requisite proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the
Outstanding Securities of that series shall be computed as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than six months after the record date. 

  
 26 

 SECTION 8.02 Proof of Execution by Securityholders. 

Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require
notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 
  

	 	(a)	 The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner
acceptable to the Trustee. 

  

	 	(b)	 The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of
the Security Registrar thereof. 

  

	 	(c)	 The Trustee may require such additional proof of any matter referred to in this Section as it shall deem
necessary. 

 SECTION 8.03 Who May be Deemed Owners. 

Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any paying agent and any Security
Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership
or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other purposes;
and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 
 
SECTION 8.04 Certain Securities Owned by Company Disregarded. 
 In determining whether the holders of the requisite aggregate
principal amount of Securities of a particular series have concurred in any direction, consent of waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by
any Person directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such
determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so
disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with
respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any
decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. 
 SECTION 8.05
Actions Binding on Future Securityholders. 
 At any time prior to (but not after) the evidencing to the Trustee, as provided in
Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security
of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such
action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in
exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate
principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 

  
 27 

 SECTION 8.06 Purposes for Which Meetings May Be Called. 

A meeting of holders of any series of Securities may be called at any time and from time to time pursuant to this Article to make, give or
take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by holders of such series of Securities. 

Notwithstanding anything contained in this Article VIII, the Trustee may, during the pendency of a Default or an Event of Default, call a
meeting of holders of any series of Securities in accordance with its standard practices. 
 SECTION 8.07 Call Notice
and Place of Meetings. 
  

	 	(a)	 The Trustee may at any time call a meeting of holders of any series of Securities for any purpose specified in
Section 8.06 hereof, to be held at such time and at such place in The City of New York or Boston, Massachusetts. Notice of every meeting of holders of any series of Securities, setting forth the time and the place of such meeting, in general
terms the action proposed to be taken at such meeting and the percentage of the principal amount of the Outstanding Securities of such series which shall constitute a quorum at such meeting, shall be given, in the manner provided in
Section 13.04 hereof, not less than 21 nor more than 180 days prior to the date fixed for the meeting to holders of Outstanding Securities of such series. 

 

	 	(b)	 In case at any time the Company, pursuant to a Board Resolution, or the holders of at least 10% in principal
amount of the Outstanding Securities of any series shall have requested the Trustee to call a meeting of the holders of Securities of such series for any purpose specified in Section 8.06 hereof, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after receipt of such request or shall not thereafter proceed to cause the meeting to be
held as provided herein, then the Company or the holders of Securities of such series in the amount specified, as the case may be, may determine the time and the place in The City of New York or Boston, Massachusetts for such meeting and may call
such meeting for such purposes by giving notice thereof as provided in paragraph (a) 
of this Section. 

 SECTION 8.08 Persons Entitled To Vote at Meetings. 

To be entitled to vote at any meeting of holders of Securities of a given series, a Person shall be (a) a holder of one or more
Outstanding Securities of such series or (b) a Person appointed by an instrument in writing as proxy for a holder or holders of one or more Outstanding Securities of such series by such holder or holders. The only Persons who shall be entitled
to be present or to speak at any meeting of holders shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

SECTION 8.09 Quorum; Action. 

The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of a given series shall constitute a quorum
with respect to a meeting of holders of Outstanding Securities of such series. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of holders of Securities of such
series, be dissolved. In any other case, the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall
be given as provided in Section 8.07(a) hereof, except that such notice need be given only once and not less than five days prior to the date on which the meeting is scheduled to be reconvened. 

At a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid, any resolution and all matters (except as
limited by the proviso to the first paragraph of Section 9.02 hereof) shall be effectively passed and decided if passed or decided by the Persons entitled to vote not less than a majority in aggregate principal amount of Outstanding Securities
of a series represented and voting at such meeting with respect to a meeting of holders of Outstanding Securities of such series. 

  
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 Any resolution passed or decisions taken at any meeting of holders of Securities duly held
in accordance with this Section shall be binding on all the holders of Securities of such series, whether or not present or represented at the meeting. 

SECTION 8.10 Determination of Voting Rights; Conduct and Adjournment of Meetings. 

 

	 	(a)	 Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it
may deem advisable for any meeting of holders of Securities in regard to proof of the holding of Securities and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of
proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. 

  

	 	(b)	 The Trustee shall, by an instrument in writing, appoint a temporary chairman (which may be the Trustee) of the
meeting, unless the meeting shall have been called by the Company or by holders of Securities of a given series as provided in Section 8.07(b) hereof, in which case the Company or the holders of Securities of such series calling the
meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the
Outstanding Securities of such series represented at the meeting. 

  

	 	(c)	 At any meeting, each holder of a Security of the series in respect of which such meeting is being held or proxy
shall be entitled to one vote for each $1,000 principal amount of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security of such series challenged as
not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a holder of a Security of such series or proxy. 

 

	 	(d)	 Any meeting of holders of Securities duly called pursuant to Section 8.07 hereof at which a quorum is
present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of the series in respect of which such meeting is being held represented at the meeting, and the meeting may be held
as so adjourned without further notice. 

 SECTION 8.11 Counting Votes and Recording Action of
Meetings. 
 The vote upon any resolution submitted to any meeting of holders of Securities of a given series shall be by written ballots on
which shall be subscribed the signatures of the holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in
duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of holders of Securities of such series shall be prepared by the secretary of the meeting and there shall be attached to said record
the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as
provided in Section 8.07 hereof and, if applicable, Section 8.09 hereof. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company
and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

  
 29 

 ARTICLE IX 

SUPPLEMENTAL INDENTURES 
 
SECTION 9.01 Supplemental Indentures Without the Consent of Securityholders. 
 In addition to any supplemental indenture otherwise
authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without
the consent of the Securityholders, for one or more of the following purposes: 
  

	 	(a)	 cure any ambiguity, correct or supplement any provision herein which may be inconsistent with any other
provision herein or which is otherwise defective, or make any other provisions with respect to matters or questions arising under this Indenture which the Company and the Trustee may deem necessary or desirable and which shall not be inconsistent
with the provisions of this Indenture; 

  

	 	(b)	 to comply with Article X; 

 

	 	(c)	 to provide for uncertificated Securities in addition to or in place of certificated Securities;

  

	 	(d)	 to add to the covenants of the Company for the benefit of the holders of all or any Series of Securities
(and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the
Company; 

  

	 	(e)	 to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount,
terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth; 

  

	 	(f)	 to make any change that does not adversely affect the rights of any Securityholder in any material respect;

  

	 	(g)	 to provide for the issuance of and establish the form and terms and conditions of the Securities of any series
as provided in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series of Securities; or

  

	 	(h)	 comply with the requirements of the Commission in order to effect or maintain the qualification of this
Indenture under the Trust Indenture Act. 

 The Trustee is hereby authorized to join with the Company in the execution of
any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by the provisions of this
Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

SECTION 9.02 Supplemental Indentures With Consent of Securityholders. 

With the written consent of the holders of at least a majority in aggregate principal amount of the Outstanding Securities of any series or by
action at a meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders of a majority in aggregate principal amount of the Securities of such series then Outstanding represented at such meeting, the
Company, when authorized by Board Resolutions, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) for
the purpose of adding any provisions 

  
 30 

 
to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.01 the rights of
the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby, (i) extend the fixed
maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, (ii) reduce the aforesaid
percentage of Securities, the holders of which are required to consent to any such supplemental indenture, or any consent or waiver, (iii) reduce the principal amount of discount securities payable upon acceleration of the maturity of any
Securities of any series or (iv) make the principal of or premium or interest on any Security of a series payable in currency or currency units other than that stated in the Securities of such series. 

It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 
SECTION 9.03 Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture pursuant to the provisions of
this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the
terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

SECTION 9.04 Securities Affected by Supplemental Indentures. 

Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture
pursuant to the provisions of this Article or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange upon which such series may be listed, as to any matter provided
for in such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification of this Indenture contained in any such
supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding. 

SECTION 9.05 Execution of Supplemental Indentures. 

Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon
the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions
of Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that it is
proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the
terms of a series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all
series affected thereby as their names and addresses appear upon the Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental
indenture. 

  
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 ARTICLE X 

SUCCESSOR ENTITY 

SECTION 10.01 Company May Consolidate, Etc. 

Nothing contained in this Indenture or in any of the Securities shall prevent any consolidation or merger of the Company with or into any other
Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the
property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same;
provided, however, the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual
payment of the principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according to their tenor and the due and punctual performance and observance of all the covenants and
conditions of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to
the provisions of the Trust Indenture Act, as then in effect) satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity
which shall have acquired such property. 
 SECTION 10.02 Successor Entity Substituted. 

 

	 	(a)	 In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the
assumption by the successor entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of, premium, if any, and interest on all of the Securities
of all series Outstanding and the due and punctual performance of all of the covenants and conditions of this Indenture or established with respect to each series of the Securities pursuant to Section 2.01 to be performed by the Company with
respect to each series, such successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities. 

  

	 	(b)	 In case of any such consolidation, merger, sale, conveyance, transfer or other disposition such changes in
phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

  

	 	(c)	 Nothing contained in this Article shall require any action by the Company in the case of a consolidation
or merger of any Person into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the property of any other Person (whether or not affiliated with the
Company). 

 SECTION 10.03 Evidence of Consolidation, Etc. to Trustee. 

The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel as conclusive evidence that any such
consolidation, merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the provisions of this Article. 

  
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 ARTICLE XI 

SATISFACTION AND DISCHARGE 
 
SECTION 11.01 Satisfaction and Discharge of Indenture. 
 If at any time: (a) the Company shall have delivered to the
Trustee for cancellation all Securities of a series theretofore authenticated (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07) and Securities for
whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by the Company (and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or
(b) all such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption
within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations
sufficient or a combination thereof, sufficient (assuming that no tax liability will be imposed on the Trustee) in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or
date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with
respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such
date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

SECTION 11.02 Discharge of Obligations. 

If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due
and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption all such
Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the
Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations
of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4.03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall
mature and be paid. Thereafter, Sections 7.06 and 11.05 shall survive. 
 SECTION 11.03 Deposited Moneys to be Held in
Trust. 
 Subject to Section 11.05, all moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or
11.02 shall be held in trust and shall be available for payment as due, either directly or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the payment or
redemption of which such moneys or Governmental Obligations have been deposited with the Trustee. 
 SECTION 11.04
Payment of Moneys Held by Paying Agents. 
 In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then
held by any paying agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys or Governmental
Obligations. 

  
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 SECTION 11.05 Repayment to Company. 

Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of
principal of or premium or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for two years after the date upon which the principal of (and premium, if any) or interest on
such Securities shall have respectively become due and payable, shall be repaid to the Company or (if then held by the Company) shall be discharged from such trust in each case, promptly after the end of any such
two-year period or, at the request of the Company, on a later date specified by the Company; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to such
moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Company for the payment thereof. 

ARTICLE XII 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

SECTION 12.01 No Recourse. 

No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or
otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any such
predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued
hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or
successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and
that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as
such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 
 
ARTICLE XIII 
 MISCELLANEOUS PROVISIONS 

SECTION 13.01 Effect on Successors and Assigns. 

All the covenants, stipulations, promises and agreements in this Indenture contained by or on behalf of the Company shall bind its successors
and assigns, whether so expressed or not. 
 SECTION 13.02 Actions by Successor. 

Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of
the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company. 

SECTION 13.03 Surrender of Company Powers. 

The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the
powers reserved to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation. 

  
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 SECTION 13.04 Notices. 

Except as otherwise expressly provided herein any notice or demand that by any provision of this Indenture is required or permitted to be given
or served by the Trustee or by the holders of Securities to or on the Company may be given or served by being deposited first class postage prepaid in a post-office letterbox addressed (until another address is filed in writing by the Company with
the Trustee), as follows: Synlogic, Inc., Attn: [    ], 200 Sidney Street, Suite 320, Cambridge, Massachusetts 02139. Any notice, election, request or demand by the Company or any Securityholder to or upon the
Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee. Any notice or communication to a holder shall be mailed by first-class mail to his
address shown on the Security Register kept by the Security Registrar. Failure to mail a notice or communication to a holder or any defect in such notice or communication shall not affect its sufficiency with respect to other holders. If a
notice or communication is mailed or sent in the manner provided above within the time prescribed, it is duly given as of the date it is mailed, whether or not the addressee receives it, except that notice to the Trustee or the Company shall only be
effective upon receipt thereof by the Trustee or the Company, respectively. If the Company mails a notice or communication to holders of Securities, it shall mail a copy to the Trustee at the same time. 

SECTION 13.05 Governing Law. 

This Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes
shall be construed in accordance with the laws of said State. 
 SECTION 13.06 Treatment of Securities as Debt. 

It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of
this Indenture shall be interpreted to further this intention. 
 SECTION 13.07 Compliance Certificates and Opinions.

  

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

  

	 	(b)	 Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to
compliance with a condition or covenant in this Indenture shall include (1) a statement that the Person making such certificate or opinion has read such covenant or condition; (2) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with.

 SECTION 13.08 Payments on Business Days. 

Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and as set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or
principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 

  
 35 

 SECTION 13.09 Conflict with Trust Indenture Act. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317,
inclusive, of the Trust Indenture Act, such imposed duties shall control. 
 SECTION 13.10 Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 
 SECTION 13.11 Separability. 

In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such
invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 13.12 Assignment.

 The Company will have the right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect
wholly-owned Subsidiary of the Company, provided that, in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the foregoing, this Indenture is binding upon and inures to the benefit of the parties
thereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 
 
ARTICLE XIV 
 SUBORDINATION OF SECURITIES 

SECTION 14.01 Subordination Terms. 

The payment by the Company of the principal of, premium, if any, and interest on any series of Securities issued hereunder shall be
subordinated to the extent set forth in an indenture supplemental hereto relating to the Securities of such series. 

  
 36 

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

			
	 SYNLOGIC, INC.

		
	 By:
	 	 
		 	 Name:

		 	 Title:

	
	
[                ],

As Trustee

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 37Exhibit 10.21

STOCK PURCHASE AGREEMENT

dated as of July 2, 2018

by and  among

Farmers & Merchants Bancorp (“Company”),

Joan Rider, successor trustee (“Trustee”), of the

Bruce A Mettler Intervivos Revocable Trust U/T/D October 3, 2007 

(“Trust”) FEIN 82-6826235

and

Blair and Eric Mettler, the sole beneficiaries of the Trust 

(“Beneficiaries”)

 

STOCK PURCHASE AGREEMENT

THIS STOCK PURCHASE AGREEMENT (“Agreement”), dated for reference purposes only as of July 2, 2018, is between Farmers & Merchants Bancorp, a corporation and registered bank holding company organized under the laws of Delaware (“Company”) located in Lodi, California, Joan Rider, as successor trustee (“Trustee”) of the Bruce A. Mettler Intervivos Revocable Trust u/t/d October 3, 2007 (“Trust”) and Blair and Eric Mettler, the sole beneficiaries of the Trust (“Beneficiaries”).

R E C I T A L S:

A.            The Trust is an intervivos revocable trust and Trustee is the legal owner of 44,503 shares of common stock of the Company, $0.01 par value (the “Stock”), an asset of the Trust corpus.

B.            The Trustee desires to sell all the shares of Stock on the terms set forth in this Agreement, the Trustee has the power and authority under the Trust to dispose of the Stock without the consent of any third party and the Stock is not pledged or encumbered.

C.            The Company desires to purchase the Stock on the terms set forth in this Agreement (the “Acquisition”) but only if the Beneficiaries are parties to this Agreement.

D.            The Beneficiaries desire the Trustee to sell the Stock to the Company on the terms set forth herein and agree to be bound by the provisions of this Agreement.

A G R E E M E N T

IN CONSIDERATION of the premises and mutual covenants hereinafter contained, Company, Trustee and Beneficiaries agree as follows:

ARTICLE 1

DEFINITIONS AND DETERMINATIONS

1.1           Definitions.  Capitalized terms used in this Agreement but not otherwise defined herein shall have the meanings set forth below:

“Affiliate” means a person that directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified.

 

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“Business Day” means any day other than a Saturday, Sunday or day on which commercial banks in California are author-ized or required to be closed.

“Confidential Information” means all information exchanged heretofore or hereafter between the Trustee or Beneficiaries and their affili-ates and agents, on the one hand, and Company and its affiliates and agents, on the other hand, which is information related to the business, financial position, operations or prospects of the Person responsible for furnishing the information or an Affiliate of such Person, including the information provided by Company to Trustee and/or Beneficiaries pursuant to Section 3.2(f).   Notwithstanding the foregoing, “Confi-dential Information” shall not include any information that (i) at the time of disclosure or thereafter is generally avail-able to and known by the public (other than as a result of a disclosure directly or indirectly by the recipients or any of their officers, directors, employees or other representatives or agents), (ii) was available to the recipients on a nonconfidential basis from a source other than Persons responsible for furnishing the information, provided that such source is not and was not bound by a confidentiality agreement with respect to the information, or (iii) has been independently acquired or developed by the recipients without violating any obligations under this Agreement.

“Consents” means every required consent, approval, absence of disapproval, waiver or authorization from, or notice to, or registration or filing with, any Person.

“Encumbrances” means any option, pledge, security interest, lien, charge, encumbrance, mortgage, assessment, claim or restriction (whether on voting, disposition or otherwise), whether imposed by agreement, understanding, Rule or otherwise.

“Governmental Entity” means any court or tribunal in any jurisdiction or any United States federal, state, district, domestic, or other administrative agency, department, commission, board, bureau or other governmental authority or instrumentality.

“Party” means the Company, the Trustee and the Beneficiaries.

“Permit” means any United States federal, foreign, state, local or other license, permit, franchise, and certificate of authority, order of approval necessary or appropriate under applicable Rules.

“Person” means any natural person, corporation, trust, association, unincorporated body, partnership, joint venture, Governmental Entity, statutorily or regulatory sanctioned unit or any other person or organization.

“Rule” means any statute or law or any judgment, decree, injunction, order, regulation or rule of any Governmental Entity.

“Third Party Claim” means any legal proceeding by a Person not a party to this Agreement and not an Affiliate of one of the parties to this Agreement.

 

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ARTICLE 2

THE TRANSACTION

2.1           Closing.  The Acquisition will be completed with a closing (the “Closing”). The Closing shall take place at the offices of the Company, 111 West Pine Street, Lodi, CA 95240 at 10:00 a.m. on July 31, 2018 or at such other place, at such other time, or on such other date as the Parties may mutually agree upon.  At the Closing, there shall be delivered to the Company and Trust the certificates and other documents required to be delivered under Article IV hereof.

 

2.2           The  Closing.  The Closing shall take place as soon as practicable, and in any event within five (5) Business Days, following the satisfaction or waiver of the conditions set forth in Sections 4.1, 4.2 and 4.3.  At the Closing and subject to the terms and conditions of this Agreement, Company shall purchase from the Trustee, and Trustee agrees to sell, convey, transfer, assign and deliver to Company, 44,503  shares of Stock (the “Closing Shares”), free and clear of any Encumbrances and, subject to Section 2.4, the Trustee shall have the right to receive in exchange for the Closing Shares an amount of cash or certified funds equal to $700.00  multiplied by the number of Closing Shares which equates to Thirty One Million One Hundred Fifty-Two Thousand One Hundred Dollars ($31,152,100.00) (the “Purchase Price”).

2.3           Wire Transfer.   At the Closing, the Company will cause to be wired to an account in the name of the Trustee in immediately available funds cash in the amount equal to the Purchase Price to be paid at such Closing minus the Special Deposit provided for in Section 2.4.  Not less than two Business Days prior to the anticipated Closing date, Trustee will provide in writing wire transfer instructions to Company.

2.4.          Special Deposit.  At and after the Closing, the Company shall set aside, hold back and maintain $12.4 million of the gross proceeds of the Acquisition in order to discharge a Federal tax lien on the estate of Bruce Mettler relating to the sale of the Stock (the “Special Deposit”).  On or before October 7, 2018, the Company will pay over to the Internal Revenue Service the Special Deposit or honor a check drawn against the Special Deposit in favor of the Internal Revenue Service in either case upon the written instructions of the Trustee (the “Payment Date”).  Between the Closing and the Payment Date, the Special Deposit will bear interest at the rate of 1.25% per annum on a simple interest basis.  Interest on the Special Deposit will be paid to the Trustee on the Payment Date.

2.5           Company Dividend.  In order to be free from doubt, the Company’s dividend for the first half of 2018 which has a record date prior to the execution hereof shall be delivered to the Trust on the payment date of such dividend.

 

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ARTICLE 3

REPRESENTATIONS AND WARRANTIES

3.1           Representations and Warranties of Company.  Company represents and warrants to Trustee and the Beneficiaries as follows:

(a)           Existence and Good Standing; Power and Authority.  Company has been duly incorporated and validly exists as a corporation in good standing under the laws of the State of Delaware and is registered as a bank holding company under the BHC Act.  Company has all requisite corporate power and authority to make, execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby.  The execution, delivery and performance of this Agreement by Company and the consummation by it of the transactions contemplated hereby have been duly authorized and approved by the all required corporate action of Company and no other action on the part of Company is necessary to authorize the execution, delivery and performance of this Agreement by Company and the consummation of the transactions contemplated hereby.  This Agreement has been duly executed and delivered by the Company and is a valid and binding obligation of Company enforceable against Company in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, liquidation, receivership, conserva-torship, insolvency, moratorium or other similar laws affecting the rights of creditors generally and by general equitable princi-ples.

(b)           Brokers and Finders.  Company is not a party to or obligated under any agreement with any broker or finder relating to the transactions contemplated hereby, and neither the execution of this Agreement nor the consummation of the transactions provided for herein or therein will result in any liability by Company to any broker or finder.

(c)           No Conflicts, Defaults or Violations; Consents.

 

(i)          The execution, delivery and performance of the Agreement by Company does not, and the consummation of the transactions contemplated thereby will not (A) violate any provision of the charter documents or by-laws of Company or any provision of any applicable Rule or (B) require any Consent of any person or entity under, conflict with, terminate or result in a breach of or accelerate the performance required by any of the terms of, any material contract or other material agreement to which the Company is a party or by which it is bound, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) thereunder, which, in any such event, could have a material adverse effect upon the ability of the Company to perform its obligations under this Agreement.

 

(ii)         No filing or registration with, Consent, approval, order or authorization of, any Governmental Entity is required by or with respect to the Company or any Affiliate of the Company in connection with the execution, delivery and performance of this Agreement by the Company or the consummation of the Acquisition.

 

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(d)           Litigation.  There are no actions, suits, proceedings, arbitrations, written claims or investigations pending or, to the Company’s knowledge, threatened against it or any of its Affiliates that (a) seek to question, delay or prevent the consummation of the Acquisition, or (b) would reasonably be expected to affect adversely the ability of the Company to fulfill its obligations hereunder.

 

(e)           Regulatory Matters.  Neither the Company nor any Affiliate of the Company has any orders, memoranda of understanding, formal or informal agreements, arrangements or understandings with any Governmental Entity that would materially impede or delay its ability to obtain any required Consent from a Governmental Entity for the consummation of the Acquisition.

 

3.2           Representations and Warranties of Trustee.  Trustee represents and warrants to Company as follows:

(a)           Authorization and Validity of Agreement.  (i) Trustee has full power and authority to execute and deliver this Agreement, to perform her obligations hereunder, and to consummate the transactions contemplated hereby, and (ii) the Agreement has been duly executed and delivered by Trustee and is a valid and binding obligation of Trustee in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditor’s rights generally, and general equitable principles.  The Trustee is the sole trustee of Trust.

(b)           Ownership of Shares.Other than the general estate tax lien pursuant to Internal Revenue Code Section 6324, Trustee owns all of the outstanding shares of Stock free and clear of all liens, claims, charges, restrictions, equities, and Encumbrances of any kind, subject only to the terms of the Trust, and has full power and legal right to sell, assign, transfer and deliver the same to Company pursuant to this Agreement.  The Special Deposit shall be used to satisfy the aforementioned general estate tax lien.

(c)           Consents and Approvals; No Violations.  The execution, delivery and performance of this Agreement by Trustee and the consummation by Trustee of the transactions contemplated hereby will not, with or without the giving of notice or lapse of time or both: (a) violate any Rule applicable to Trust or the Trustee, (b) violate any order, judgment or decree of any court or of any Governmental Entity applicable to Trust or the Trustee, (c) require any filing by Trust or the Trustee with, or require Trust or the Trustee to obtain any Consent or require Trust or Trustee to give any notice to any Governmental Entity, or (d) result in a violation or breach by Trust or Trustee, conflict with, constitute (with or without due notice or lapse of time or both) a default by Trust or Trustee (or give right to any right of termination, cancellation, payment or acceleration) under any obligation of Trust or Trustee or result in the creation of any Encumbrance upon any of the assets of Trust or Trustee.

(d)           Brokers and Finders.   Neither Trustee nor any predecessor trustee of the Trust is a party to or obligated under any agreement with any broker or finder relating to the transactions contemplated hereby, and neither the execution of this Agreement nor the consummation of the transactions provided for herein or therein will result in any liability to any broker or finder.

 

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(e)           Estate Taxes.   As of the Closing, all estate taxes due to any Governmental Entity as a result of the death of Bruce Mettler have been paid by the Trustee, or will be paid by the Trustee through use of the Special Deposit, or the Trust and such Governmental Entities have entered into agreements to pay such taxes.  Upon execution of this Agreement, Trustee will request a certification of Lien Release from the Internal Revenue Service pursuant to Internal Revenue Code Section 6325 to discharge the general federal estate tax lien with respect to the Stock.

(f)            Information concerning the Company and its Affiliates. Trustee acknowledges that she has been afforded  (i) access to information about the Company, its Affiliates and their respective financial condition, results of operations, business, properties, management and prospects sufficient to enable Trustee to evaluate the Acquisition and (ii) the opportunity to ask such questions as the Trustee has deemed necessary of, and to receive answers from, representatives of the Company concerning its prospects, including the likely results for the quarter ended June 30, 2018, and the merits and risks of investing in or holding the common stock of the Company.  The Trustee further acknowledges that she has had the opportunity to have answered any questions concerning financial, business or other information with respect to the business of the Company or with respect to the merits and risks of investment in the Company and the Company has given complete and satisfactory answers to all inquiries that the Trustee has asked them concerning the matters listed above.  The Trustee has sought such accounting, legal and tax advice as she has considered necessary to make an informed decision with respect to the Acquisition.

(g)           No Conflicts, Defaults or Violations; Consents.

 

(i)          The execution, delivery and performance of the Agreement by Trustee does not, and the consummation of the transactions contemplated thereby will not (A) violate any provision of the Trust or any provision of any applicable Rule or (B) require any Consent of any person or entity under, conflict with, terminate or result in a breach of or accelerate the performance required by any of the terms of, any material contract or other material agreement to which the Trust, Trustee or any predecessor trustee of the Trust is a party or by which they are bound, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) thereunder, which, in any such event, could have a material adverse effect upon the ability of the Trustee to perform her obligations under this Agreement.

 

(ii)         No filing or registration with, Consent, approval, order or authorization of, any Governmental Entity is required by or with respect to the Trust or Trustee in connection with the execution, delivery and performance of this Agreement by the Trustee or the consummation of the Acquisition.

3.3           Representations and Warranties of the Beneficiaries.   Beneficiaries represent and warrant to Company as follows:

(a)           Authorization and Validity of the Agreement.  Beneficiaries have full power and authority to execute and deliver this Agreement, to perform their obligations hereunder, and to consummate the transactions contemplated hereby, and (ii) the Agreement has been duly executed and delivered by them and is a valid and binding obligation of  theirs  in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditor’s rights generally, and general equitable principles.

 

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(b)           Sole Beneficiaries.   The Beneficiaries are the sole beneficiaries of the Trust.

(c)           No Assignment.  The Beneficiaries have not assigned or disclaimed their beneficial interest in the Trust.

(d)           Consent.  The Beneficiaries hereby consent to the sale of the Stock on the terms set forth herein.

ARTICLE 4

 

CONDITIONS TO THE PARTIES' OBLIGATIONS TO CLOSE

4.1           Conditions to Company’s and Trustee’s Obligations to Close.  The respective obligations of Company, on the one hand, and the Trustee, on the other, to consummate the transactions contemplated hereby are subject to the satisfaction or waiver at or prior to the Closing of each of the following conditions:

(a)           No judgment, decree, injunction, order or proceeding shall be outstanding or threatened by any Governmental Entity which prohibits or materially restricts the effectuation of, or threatens to invalidate or set aside, the Agreement.

(b)           No Rule shall be outstanding or threatened by any Governmental Entity which prohibits or materially restricts the consummation of, or threatens to invalidate or set aside, the Agreement or which would not permit the businesses presently carried on by Company to continue materially unimpaired following the Closing.

4.2           Additional Conditions to Obligations of Company to Close.  The obligations of Company to consummate the Acquisition are subject to the satisfaction or waiver at or prior to the Closing of each of the following conditions:

(a)           All actions necessary to authorize the execution, delivery and performance of this Agreement, and the consummation of the Acquisition shall have been duly and validly taken by   Trustee and the Beneficiaries.

(b)           The representations and warranties of Trustee and the Beneficiaries in this Agreement shall have been true and correct in all material respects on the date of this Agreement and at and as of the Closing as though all such representations and warranties had been made on and as of the Closing, except with respect to representations and warranties that, by their terms, speak as of a different time, and the Company shall have received a certificate to that effect dated the Closing and executed (i)   by the Trustee and (ii) the Beneficiaries, as to their respective representations and warranties.

 

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(c)           Each of the covenants and agreements of Trust and the Beneficiaries contained in this Agreement to be performed at or before the Closing shall have been so performed in all material respects; and the Company shall have received  certificates to that effect dated the Closing and executed by the  Trustee and the Beneficiaries as to their respective covenants and agreements.

(d)           Trustee shall have delivered at the Closing certificates for the Closing Shares  endorsed to the Company or appropriate stock powers authorizing the transfer of such shares to the Company.

(e)           Trustee shall have delivered at Closing an opinion of its counsel acceptable in form to Company  opining on the matters set forth in Section 3.2(a) hereof.

(f)            Prior to Closing, Company shall have obtained not less than $32 million through the sale of equity or debt securities on terms acceptable to Company in its sole discretion to be used to purchase the Closing Shares at $700.00 per share.

4.3           Additional Conditions to Obligations of Trustee to Close.  The obligations of Trustee to consummate the transactions contemplated herein are subject to the satisfaction or waiver, at or prior to the Closing, of each of the following conditions:

(a)           All actions necessary to authorize the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated by this Agreement shall have been duly and validly taken by the board of directors of Company.

(b)           The representations and warranties of Company contained in this Agreement shall be true and correct in all material respects on the date of this Agreement and at and as of the Closing as though all such representations and warranties had been made at and as of such time, except with respect to representations and warranties that, by their terms, speak as of a different time, and Trust shall have received a certificate to that effect dated the Closing and executed on behalf of Company by its chief executive officer and chief financial officer.

 

(c)           The covenants and agreements of Company to be performed at or before the Closing shall have been duly performed in all material respects; and Trust shall have received one or more certificates to that effect dated the Closing and executed by the chief executive officer and chief financial officer of Company.

 

(d)           The Company shall have delivered at Closing an opinion of counsel acceptable in form to Trustee and Beneficiaries opining on the matters set forth in Section 3.1(a) herein.

 

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ARTICLE 5

INDEMNIFICATION

	5.1	
Indemnification by Trustee of the Trust,  Beneficiaries and the Company

 

(a)           After the  Closing, Trustee and  the Beneficiaries (as to the Beneficiaries only to the extent provided in Section 5.1(g))  (the “Indemnifying Parties”) shall, subject to the other provisions of this Section 5.1, jointly and severally indemnify, hold harmless and defend the Company, its Affiliates, and their respective successors, permitted assigns, directors, shareholders, officers, agents and employees (the “Indemnified Parties”) from and against all claims, losses, liabilities, demands, and obligations of any nature whatsoever (including reasonable legal fees and expenses) (collectively, “Damages”) which the Indemnified Parties shall receive, suffer or incur, arising out of or resulting from the breach of any representation or warranty made by the Indemnifying Parties in this Agreement under Sections 3.2 or 3.3, or the material breach of any covenant made by the Indemnifying Parties in this Agreement.  The Trustee, in her individual capacity, shall have no personal liability to Company for the indemnification provided for in this Section 5.1.

 

(b)           A claim for indemnification pursuant to this Section 5.1 may be asserted by written notice to the Indemnifying Parties, which notice shall include a reasonable description of the basis for the claim and shall be paid or disputed in writing by the Indemnifying Parties within ten (10) Business Days of the receipt of such notice.

 

(c)           In the event that any legal proceedings shall be instituted, the Company shall as soon as reasonably practicable cause written notice of the assertion of any Third Party Claim of which it has knowledge, which is covered by this Section 5.1, to be forwarded to the Indemnifying Parties.  If the Indemnifying Parties acknowledge in writing their obligation to indemnify the Indemnified Parties pursuant to this Section 5.1 against any Damages that may result from such Third Party Claim, the Indemnifying Parties shall have the right, at their sole expense, to be represented by counsel and to defend against, negotiate, settle, or otherwise deal with any Third Party Claim that relates to any Damages for which indemnification is sought pursuant to this Section 5.1.  If the Indemnifying Parties  elect to defend against, negotiate, settle, or otherwise deal with any Third Party Claim that relates to any Damages for which indemnification is sought pursuant to this Section 5.1, it shall within ten (10) Business Days (or sooner, if the nature of the Third Party Claim so requires) of receipt of notice of the Third Party Claim notify the Company of its intent to do so.  If the Indemnifying Parties elect not to defend against, negotiate, settle, or otherwise deal with any Third Party Claim that relates to any Damages for which indemnification is sought pursuant to this Section 5.1, or fail to notify the Company of their election within the timeframe provided for above, the Indemnified Parties may then defend against, negotiate, settle, or otherwise deal with such Third Party Claim and the Indemnifying Parties shall reimburse the Indemnified Parties for the reasonable actual expenses of defending such Third Party Claim upon submission of periodic bills.  If the Indemnifying Parties assume the defense of the Third Party Claim, the Company may participate, at its own expense, in the defense of such Third Party Claim; provided that the Company shall be entitled to participate in any such defense with separate counsel at the expense of the Indemnifying Parties if: (i) so requested by the Indemnifying Parties to participate; (ii) upon the reasonable advice of counsel to the Company that a conflict or potential conflict exists between the interests of the Company and the Indemnifying Parties that would make such separate representation advisable; or (iii) such claim is based upon an investigation, inquiry, or other proceeding by a Governmental Entity; and provided, further, that the Indemnifying Parties shall not be required to pay for more than one such counsel (and any appropriate local counsel) for the Indemnified Parties in connection with such Third Party Claim.  The Indemnifying Parties and the Company agree to cooperate fully with each other in connection with the defense, negotiation, or settlement of any such Third Party Claim.

 

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(d)           After any final judgment or award shall have been rendered by a Governmental Entity of competent jurisdiction and the expiration of the time in which to appeal such judgment or award, or a settlement shall have been consummated, or the Indemnified Parties and the Indemnifying Parties shall have arrived at a mutually binding agreement with respect to a Third Party Claim pursuant to this Section 5.1, the Company shall forward to the Indemnifying Parties notice of any sums due and owing (including any bills, records, or other documentation supporting such sums) by the Indemnifying Parties pursuant to this Agreement with respect to such matter and the Indemnifying Parties shall be required to dispute in writing or pay all of the sums so due and owing to the Indemnified Parties by wire transfer of immediately available funds within five (5) Business Days after the date of such notice.

 

(e)           The failure of the Indemnified Parties to give reasonably prompt notice of any Third Party Claim shall not release, waive, or otherwise affect the Indemnifying Parties’ obligations with respect to such Third Party Claim except to the extent that the Indemnifying Parties can demonstrate actual Damages and prejudice as a result of such failure or delay.

 

(f)           All representations, warranties and covenants which are the subject of the indemnification obligations of the Indemnifying Parties contained in or made pursuant to this Agreement shall survive the execution and delivery of this Agreement and shall continue in full force and effect for  a period of one (1) year after the  Closing  and thereafter shall terminate; provided, however, that any claim for indemnification pursuant to this Section made prior to the expiration of such one (1) year period shall remain effective until finally resolved notwithstanding the expiration of the indemnification period.

 

(g)           The indemnification obligation provided in this Section 5.1 shall survive any termination of the Trust. The indemnification obligation will become the joint and several obligations of the Beneficiaries upon the termination of the Trust or the inability of the Trust to pay the entire amount of any Damages.  Beneficiaries will also be jointly and severally liable for Damages for any breach of a representation or warranty in Section 3.3 or any of their covenants or agreements herein.  The Beneficiaries indemnification obligation hereunder shall not be limited by the provisions of Section 19400 et seq. of the Probate Code.

 

(h)           The collective aggregate liability of the Indemnifying Parties shall under Section 5.1 in no event exceed an amount equal to the number of Closing Shares multiplied by $700.00.

 

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(i)            After the  Closing, the Company shall, subject to the other provisions of this Section 5.1, indemnify, hold harmless and defend the Trustee and the Beneficiaries and their respective successors and permitted assigns from and against all Damages which the Trustee or the Beneficiaries shall receive, suffer or incur, arising out of or resulting from the breach of any representation or warranty made by the Company in this Agreement or the material breach of any covenant made by the Company in this Agreement.  The provisions of Subsection (b)-(f) and (h) of this Section 5.1 shall apply to the indemnification under this Subsection 5,1(i) with the term “Indemnifying Party” therein meaning the Company and the term “Indemnified Party” meaning the Trustee or the Beneficiaries.  The Company’s indemnification obligation in this Section 5.1(i) shall survive any dissolution, merger, or other transfer of the Company.  This indemnification obligation of Company will become the joint and several obligation of the Company and its successors and assigns upon the dissolution, merger, or other transfer of the Company.  The Company and its successors and assigns upon any dissolution, merger, or other transfer will also be jointly and severally liable for Damages for any breach of a representation or warranty under this Agreement.

ARTICLE 6

 

TERMINATION OF AGREEMENT; WAIVER OF CONDITIONS

 

6.1           Termination of Agreement.  Anything herein to the contrary notwithstanding, this Agreement and the Acquisition may be terminated (to the extent that it remains executory) at any time before either of the Closings as follows, and in no other manner:

(a)           By mutual consent of Company and the Trustee;

(b)           By Company or the Trustee, if the Closing shall not have occurred by July  31, 2018;

 

(c)           By Company, if any conditions set forth in Sections 4.1 or 4.2 shall not have been met, or by Trustee, if any conditions set forth in Sections 4.1 or 4.3 shall not have been met, by July 31, 2018, or such earlier time as it becomes apparent that such condition cannot be met;

(d)           By Company, if Trustee or Beneficiaries should (i) subject to the standards set forth in Sections 4.2(b), materially breach any of their respective representations or warranties contained herein or (ii) materially default in the observance or in the due and timely performance of any of their respective covenants and agreements herein contained, and in either case, such breach and/or default shall not have been fully cured within 20 Business Days from the date of delivery of written notice specifying the alleged breach and/or default;

 

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(e)           By Trustee, if Company should (i) subject to the standards set forth in Sections 4.3(b), materially breach any of its representations or warranties contained herein or (ii) materially default in the observance or in the due and timely performance of any of its covenants and agreements herein contained, and in either case, such breach and/or default shall not have been fully cured within 20 Business Days from the date of delivery of written notice specifying the alleged breach and/or default.

6.2           Effect of Termination.  In the event that this Agreement shall be terminated pursuant to Section 6.1 hereof, all further obligations of the Parties hereto under this Agreement shall terminate without further liability of any Party to another; provided, however, that no termination of this Agreement under Section 6.1 for any reason or in any manner shall release, or be construed as so releasing, any Party from its obligations under Sections 7.1, 7.9 or 7.10, hereof and notwithstanding the foregoing if such termination shall result from the willful failure of a Party to fulfill a condition to the performance of the obligations of any other Party or to perform a covenant of such Party in this Agreement, such Party shall be fully liable for any and all damages, costs and expenses (including, but not limited to, reasonable attorneys' fees sustained or incurred by the other Party or Parties in connection with negotiating and implementing the transactions contemplated in this Agreement); provided, however, the failure of Company to obtain financing pursuant to Section 4.2(f) on terms acceptable to it in its sole discretion shall not constitute a willful failure of it to fulfill such conditions nor a failure to perform any covenant by it hereunder.

6.3           Waiver of Conditions.  If any of the conditions specified in Section 4.2 have not been satisfied, Company may nevertheless, at its election, proceed with the transactions contemplated in this Agreement.  If any of the conditions specified in Section 4.3 have not been satisfied, Trustee may nevertheless, at her election, proceed with the transactions contemplated in this Agreement.  If any Party elects to proceed pursuant to the provisions hereof, the conditions that are unsatisfied immediately prior to the Closing shall be deemed to be satisfied, as evidence by a certificate delivered by the electing Party.

ARTICLE 7

GENERAL

7.1           Expenses.   All expenses incurred by Company, Trustee or the Beneficiaries in connection with or related to the authorization, preparation and execution of this Agreement and all other matters related to the Closing of the transactions contemplated hereby, including, without limitation of the generality of the foregoing, all fees and expenses of agents, representatives, counsel, brokers and accountants employed by any of the Parties or its affiliates, shall be borne solely and entirely by the Party which has incurred the same.

7.2           Amendments.  To the fullest extent permitted by law, this Agreement may be amended by agreement in writing of the Company, the Trustee and the Beneficiaries at any time prior to the Closing.

 

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7.3           Integration.  This Agreement constitutes the entire agreement between the Parties pertaining to the subject matter hereof and supersedes all prior agreements and understanding of the Parties in connection therewith.

7.4           Best Efforts.  Each Party will use its best efforts to cause all conditions to the obligations of the Parties to be satisfied.

7.5           Governing Law.  This Agreement and the legal relations between the Parties shall be governed by and construed in accordance with the laws of California except to the extent that the provisions of federal law are mandatorily applicable.  The Parties hereby irrevocably submit to the jurisdiction of the courts of the State of California and the federal courts of the United States of America located in the Eastern District Court for California solely in respect of the interpretation and enforcement of the provisions of this Agreement and of the documents referred to in this Agreement, and in respect of the transactions contemplated hereby and thereby, and hereby waive, and agree to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or of any such documents, that it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the Parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such California state or federal court.  The Parties hereby consent to and grant any such court jurisdiction over the person of such parties and over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in Section 7.12 or in such other manner as may be permitted by law, shall be valid and sufficient service thereof. This Agreement was jointly negotiated and prepared by the parties hereto.  This Agreement shall be construed and interpreted according to its plain meaning and not for or against any party based upon any attribution of such party as the sole source of the language in question.

7.6           No Assignment.  Neither this Agreement nor any rights, duties or obligations hereunder shall be assignable by Company, Trustee or the Beneficiaries, in whole or in part, without the prior written consent of the other Parties.  Any attempted assignment in violation of this prohibition shall be null and void.  Subject to the foregoing, all of the terms and provisions hereof shall be binding upon, and inure to the benefit of, the successors and assigns of the Parties hereto.

7.7           Headings.  The descriptive headings contained in this Agreement are inserted for convenience only and do not constitute a part of this Agreement.

7.8           Counterparts.  This Agreement and any exhibit hereto may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each Party hereto and delivered to each Party hereto.

 

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7.9           Publicity and Reports.  Company and Trustee shall coordinate all publicity relating to the transactions contemplated by this Agreement and no Party shall issue any press release, publicity statement or other public notice relating to this Agreement or any of the transactions contemplated hereby without obtaining the prior consent of the other Parties, except to the extent that legal counsel to any Party shall deliver a written opinion to the other Parties to the effect that a particular action is required by applicable Rules.

7.10         Confidentiality.  All Confidential Information disclosed heretofore or hereafter by any Party to this Agreement to any other Party to this Agreement shall be kept confidential by such other Party and shall not be used by such other Parties otherwise than as herein contemplated, except to the extent that (a) it is necessary or appropriate to disclose to  any  Governmental Entity having jurisdiction over any of the Parties or as may otherwise be required by Rule; or (b) to the extent such duty as to confidentiality is waived by the other Party.  Such obligation as to confidentiality and non-use shall survive the termination of this Agreement pursuant to Article 6.  In the event of such termination and on request of another Party, each Party shall use all reasonable efforts to (1) return to the other Parties all documents (and reproductions thereof) received from such other Parties that contain Confidential Information (and, in the case of reproductions, all such reproductions made by the receiving Party); and (2) destroy the originals and all copies of any analyses, computations, studies or other documents prepared for the internal use of such Party that included Confidential Information.

7.11         Specific Performance.  All the Parties acknowledge that, in view of the uniqueness of the transactions contemplated in this Agreement, each Party would not have an adequate remedy at law for money damages in the event that this Agreement has not been performed in accordance with its terms, and therefore each Party agrees that the other shall be entitled to specific enforcement of the terms hereof in addition to any other remedy to which it may be entitled, at law or in equity.

7.12         Notices.  All notices, requests and other communications hereunder to a Party shall be in writing and shall be deemed given if personally delivered, telecopied (with confirmation) or mailed by registered or certified mail (return receipt requested) or delivered by an overnight courier (with confirmation) to such party at its address set forth below or such other address as such party may specify by notice to the parties hereto.

If to Trustee to:

Joan  Rider, successor trustee

Of the Bruce A. Mettler Intervivos Revocable Trust u/t/d  October 3, 2007

26 Corrala Vista Dr.

Watsonville, CA 95076

 

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With a copy to:

Richard S. Calone, Esq.

Calone & Harrel Law Group, LLP

1810 Grand Canal Blvd. Suite 6

Stockton, CA 95207

Fax: (209) 952-8751

If to Beneficiaries to:

Eric Mettler

17000 Cherry Road

Lodi, CA 95240

Blair Mettler

17901 North Cherry Road

Lodi, CA 95420

If to the Company to:

 

Farmers & Merchants Bancorp

111 West Pine Street

Lodi, California 65241

Attention: Stephen Haley

Chief Financial Officer

Fax: (206) 367-2345

With a copy to:

Stuart Moore Staub, Attorneys at Law

641 Higuera Street,

Suite 302

San Luis Obispo, CA 63401

Attention: John F. Stuart, Esq.

Fax: (505) 545-5566

7.13         Severability.  If any portion of this Agreement shall be deemed by a court of competent jurisdiction to be unenforceable, the remaining portions shall be valid and enforceable only if, after excluding the portion deemed to be unenforceable, the remaining terms hereof shall provide for the consummation of the transactions contemplated herein in substantially the same manner as originally set forth at the date this Agreement was executed.

 

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7.14         Attorneys’ Fees.  In the event any of the Parties to this Agreement brings an action or suit against any other Party by reason of any willful breach of any covenant, agreement, representation, warranty or other provision hereof, or any breach of any duty or obligation created hereunder by such other Party, the prevailing Party, as determined by the court or the body having jurisdiction, shall be entitled to have and recover of and from the losing party, as determined by the court or other party having jurisdiction, all reasonable costs and expenses incurred or sustained by such prevailing party in connection with such prevailing action, including, without limitation, legal fees and court costs (whether or not taxable as such).

[Signatures on next page]

 

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WITNESS, the signature of Farmers & Merchants Bancorp, as of the 2nd day of July, 2018, set by its President and Chief Executive Officer and its Secretary, pursuant to a resolution of its Board of Directors, acting by at least a majority:

	 	
FARMERS & MERCHANTS BANCORP

	 
	 	 	 
	 	
By:

	
/s/ Kent A. Steinwert

	 
	 		 	 
	 	
Name:

	
Kent A. Steinwert

	 
	 	
Title:

	
Chairman, President and Chief Executive Officer

	 

 

	 	
By:

	
/s/ Stephen W. Haley

	 	 	
	 	 	 
	 	
Name:

	
Stephen W. Haley

	 	
Title:

	
Executive Vice President, Chief Financial

	 	 	
Officer and Corporate Secretary

WITNESS, the signature of the Joan Rider, in her capacity as the successor trustee of the Bruce A Mettler Intervivos Revocable Trust u/t/d October 3, 2007, as of the 2nd day of July, 2018.

	 	
BRUCE A METTLER INTERVIVOS REVOCABLE TRUST U/T/D 

OCTOBER 3, 2007

	 	
/s/ Jean E. Rider

	 
	 		 
	 	
Joan E. Rider,  Successor Trustee

WITNESS, the signature of Blair Mettler as of the 2nd day of July, 2018.

	 	
/s/ Blair Mettler

	 
	 		 
	 	
Blair Mettler, Beneficiary

WITNESS, the signature of Eric Mettler as of the 2nd day of July, 2018.

	 	
/s/ Eric Mettler

	 
	 		 
	 	
Eric Mettler, Beneficiary

 

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