Document:

Exhibit

EXHIBIT 4.24

NRZ ADVANCE RECEIVABLES TRUST 2015-ON1 
as Issuer

and
DEUTSCHE BANK NATIONAL TRUST COMPANY, 
as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary
and
OCWEN LOAN SERVICING, LLC, 
as a Subservicer (on and after the respective MSR Transfer Dates) and as Servicer (prior to the respective MSR Transfer Dates)

and
HLSS HOLDINGS, LLC, 
as Administrator and as Servicer (on and after the respective MSR Transfer Dates)
and
CREDIT SUISSE AG, NEW YORK BRANCH
as Administrative Agent
and NEW RESIDENTIAL INVESTMENT CORP.
__________
SERIES 2015-T4
INDENTURE SUPPLEMENT
Dated as of November 24, 2015
to
INDENTURE
Dated as of August 28, 2015
ADVANCE RECEIVABLES BACKED NOTES, 
SERIES 2015-T4

TABLE OF CONTENTS
Page
SECTION 1.CREATION OF SERIES 2015-T4 NOTES.    1
SECTION 2.DEFINED TERMS.    2
SECTION 3.FORMS OF SERIES 2015-T4 NOTES; TRANSFER RESTRICTIONS.    15
SECTION 4.COLLATERAL VALUE EXCLUSIONS.    15
SECTION 5.SERIES 2015-T4 RESERVE ACCOUNT.    18
SECTION 6.PAYMENTS; NOTE BALANCE INCREASES; EARLY MATURITY.    19
SECTION 7.OPTIONAL REDEMPTIONS AND REFINANCING.    19
SECTION 8.[RESERVED]    20
SECTION 9.SERIES REPORTS.    20
SECTION 10.CONDITIONS PRECEDENT SATISFIED.    22
SECTION 11.REPRESENTATIONS AND WARRANTIES.    23
SECTION 12.AMENDMENTS.    23
SECTION 13.COUNTERPARTS.    24
SECTION 14.ENTIRE AGREEMENT.    24
SECTION 15.LIMITED RECOURSE.    24
SECTION 16.OWNER TRUSTEE LIMITATION OF LIABILITY.    24
SECTION 17.JOINT AND SEVERAL LIABILITY.    25

THIS SERIES 2015-T4 INDENTURE SUPPLEMENT (this “Indenture Supplement”), dated as of  November 24, 2015, is made by and among NRZ ADVANCE RECEIVABLES TRUST 2015-ON1, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), DEUTSCHE BANK NATIONAL TRUST COMPANY, a national banking association, as trustee (the “Indenture Trustee”), as calculation agent (the “Calculation Agent”), as paying agent (the “Paying Agent”) and as securities intermediary (the “Securities Intermediary”), HLSS HOLDINGS, LLC, a limited liability company organized under the laws of the State of Delaware (“HLSS”), as Administrator on behalf of the Issuer, as owner of the rights associated with the servicing rights under the Designated Servicing Agreements, and, from and after the respective MSR Transfer Dates for each Designated Servicing Agreement, as servicer under such Designated Servicing Agreement, OCWEN LOAN SERVICING, LLC, a limited liability company organized in the State of Delaware (“OLS”), as a Subservicer on and after the respective MSR Transfer Dates and as servicer for each Designated Servicing Agreement prior to the respective MSR Transfer Dates, CREDIT SUISSE AG, NEW YORK BRANCH (“Credit Suisse”), as Administrative Agent and NEW RESIDENTIAL INVESTMENT CORP. (“NRZ”). This Indenture Supplement relates to and is executed pursuant to that certain Indenture (as amended, supplemented, restated or otherwise modified from time to time, the “Base Indenture”) supplemented hereby, dated as of August 28, 2015, among the Issuer, OLS, HLSS, the Indenture Trustee, the Calculation Agent, the Paying Agent, the Securities Intermediary, Credit Suisse, as Administrative Agent and the “Administrative Agents” from time to time parties thereto, all the provisions of which are incorporated herein as modified hereby and shall be a part of this Indenture Supplement as if set forth herein in full (the Base Indenture as so supplemented by this Indenture Supplement being referred to as the “Indenture”).
Capitalized terms used and not otherwise defined herein shall have the respective meanings given them in the Base Indenture.
PRELIMINARY STATEMENT
The Issuer has duly authorized the issuance of a Series of Notes, the “NRZ Advance Receivables Trust 2015-ON1 Advance Receivables Backed Notes, Series 2015-T4 Notes” (the “Series 2015-T4 Notes”).  The parties are entering into this Indenture Supplement to document the terms of the issuance of the Series 2015-T4 Notes pursuant to the Base Indenture, which provides for the issuance of Notes in multiple series from time to time.  

Section 1.Creation of Series 2015-T4 Notes.
There are hereby created, effective as of the Issuance Date, the Series 2015-T4 Notes, to be issued pursuant to the Base Indenture and this Indenture Supplement, to be known as “NRZ Advance Receivables Trust 2015-ON1 Advance Receivables Backed Notes, Series 2015-T4 Notes.”  The Series 2015-T4 Notes shall not be subordinated to any other Series of Notes.  The Series 2015-T4 Notes are issued in five (5) Classes of Term Notes (Class A-T4, Class B-T4, Class C-T4, Class D-T4 and Class E-T4), with the Initial Note Balances, Stated Maturity Dates, Revolving Periods, Note Interest Rates, Expected Repayment Dates and other terms as specified in this Indenture Supplement.  The Series 2015-T4 Notes shall be secured by the Trust Estate Granted to the Indenture Trustee pursuant to the Base Indenture.  The Indenture Trustee shall hold the Trust Estate as collateral security for the benefit of the Noteholders of the Series 2015-T4 Notes and all other Series of Notes issued under the Base Indenture as described therein.  In the event that any term or provision contained herein with respect to the Series 2015-T4 Notes shall conflict with or be inconsistent with any term or provision contained in the Base Indenture, the terms and provisions of this Indenture Supplement shall govern to the extent of such conflict.
Section 2.    Defined Terms.
With respect to the Series 2015-T4 Notes and in addition to or in replacement for the definitions set forth in Section 1.1 of the Base Indenture, the following definitions shall be assigned to the defined terms set forth below:
“Administrative Agent” means, for so long as the Series 2015-T4 Notes have not been paid in full:  (i) with respect to the provisions of this Indenture Supplement, Credit Suisse or an Affiliate or successor thereto; and (ii) with respect to the provisions of the Base Indenture, and notwithstanding the terms and provisions of any other Indenture Supplement, Credit Suisse, and such other parties as set forth in any other Indenture Supplement, or a respective Affiliate or any respective successor thereto.  For the avoidance of doubt, reference to “it” or “its” with respect to the Administrative Agent in the Base Indenture shall mean “them” and “their,” and reference to the singular therein in relation to the Administrative Agent shall be construed as if plural.
 “Advance Rates” means, with respect to the Series 2015-T4 Notes, on any date of determination with respect to each Receivable included in the Trust Estate, the percentage amount based on the Advance Type of such Receivable, as set forth in the table below, subject to amendment by mutual agreement of the Administrative Agent and the Administrator, and with consultation with each Note Rating Agency; provided, that the Advance Rate for any Receivable related to any Class of Notes shall be zero if such Receivable is not a Facility Eligible Receivable:

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	FIFO / NON-LOAN-LEVEL BACKSTOPPED DESIGNATED SERVICING AGREEMENTS
	 

	 
	Advance Type / Class of Notes
	Class A-T4
	Class B- T4
	Class C-T4
	Class D-T4
	Class E-T4

	 
	Non-Judicial P&I Advances
	78.50%
	82.25%
	85.75%
	93.50%
	94.75%

	 
	Judicial P&I  Advances
	67.50%
	71.25%
	76.00%
	90.25%
	91.75%

	 
	Non-Judicial Deferred Servicing Fees
	79.00%
	82.00%
	84.75%
	93.00%
	94.00%

	 
	Judicial Deferred Servicing Fees
	67.75%
	70.75%
	75.00%
	89.75%
	91.00%

	 
	Non-Judicial Escrow Advances
	79.00%
	82.00%
	84.75%
	93.00%
	94.00%

	 
	Judicial Escrow Advances
	67.75%
	70.75%
	75.00%
	89.75%
	91.00%

	 
	Non-Judicial Corporate Advances
	79.00%
	82.00%
	84.75%
	93.00%
	94.00%

	 
	Judicial Corporate Advances
	67.75%
	70.75%
	75.00%
	89.75%
	91.00%

    
	
						
	FIFO / LOAN-LEVEL DESIGNATED SERVICING AGREEMENTS
	 

	Advance Type / Class of Notes
	Class A-T4
	Class B- T4
	Class C-T4
	Class D-T4
	Class E-T4

	Non-Judicial P&I Advances
	68.50%
	74.25%
	79.75%
	89.50%
	92.75%

	Judicial P&I  Advances
	57.50%
	63.25%
	70.00%
	86.25%
	89.75%

	Non-Judicial Deferred Servicing Fees
	69.00%
	74.00%
	78.75%
	89.00%
	92.00%

	Judicial Deferred Servicing Fees
	57.75%
	62.75%
	69.00%
	85.75%
	89.00%

	Non-Judicial Escrow Advances
	69.00%
	74.00%
	78.75%
	89.00%
	92.00%

	Judicial Escrow Advances
	57.75%
	62.75%
	69.00%
	85.75%
	89.00%

	Non-Judicial Corporate Advances
	69.00%
	74.00%
	78.75%
	89.00%
	92.00%

	Judicial Corporate Advances
	57.75%
	62.75%
	69.00%
	85.75%
	89.00%

	
						
	NON-FIFO / NON-LOAN-LEVEL BACKSTOPPED DESIGNATED SERVICING AGREEMENTS
	 

	Advance Type / Class of Notes
	Class A-T4
	Class B- T4
	Class C-T4
	Class D-T4
	Class E-T4

	Non-Judicial P&I Advances
	73.50%
	78.25%
	82.75%
	91.50%
	93.75%

	Judicial P&I  Advances
	62.50%
	67.25%
	73.00%
	88.25%
	90.75%

	Non-Judicial Deferred Servicing Fees
	74.00%
	78.00%
	81.75%
	91.00%
	93.00%

	Judicial Deferred Servicing Fees
	62.75%
	66.75%
	72.00%
	87.75%
	90.00%

	Non-Judicial Escrow Advances
	74.00%
	78.00%
	81.75%
	91.00%
	93.00%

	Judicial Escrow Advances
	62.75%
	66.75%
	72.00%
	87.75%
	90.00%

	Non-Judicial Corporate Advances
	74.00%
	78.00%
	81.75%
	91.00%
	93.00%

	Judicial Corporate Advances
	62.75%
	66.75%
	72.00%
	87.75%
	90.00%

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	NON-FIFO / LOAN LEVEL DESIGNATED SERVICING AGREEMENTS
	 

	Advance Type / Class of Notes
	Class A-T4
	Class B- T4
	Class C-T4
	Class D-T4
	Class E-T4

	Non-Judicial P&I Advances
	63.50%
	70.25%
	76.75%
	87.50%
	91.75%

	Judicial P&I  Advances
	52.50%
	59.25%
	67.00%
	84.25%
	88.75%

	Non-Judicial Deferred Servicing Fees
	64.00%
	70.00%
	75.75%
	87.00%
	91.00%

	Judicial Deferred Servicing Fees
	52.75%
	58.75%
	66.00%
	83.75%
	88.00%

	Non-Judicial Escrow Advances
	64.00%
	70.00%
	75.75%
	87.00%
	91.00%

	Judicial Escrow Advances
	52.75%
	58.75%
	66.00%
	83.75%
	88.00%

	Non-Judicial Corporate Advances
	64.00%
	70.00%
	75.75%
	87.00%
	91.00%

	Judicial Corporate Advances
	52.75%
	58.75%
	66.00%
	83.75%
	88.00%

 “Advance Ratio” means, as of any date of determination with respect to any Designated Servicing Agreement, the ratio (expressed as a percentage), calculated as of the last day of the calendar month immediately preceding the calendar month in which such date occurs, of (i) the related PSA Stressed Nonrecoverable Advance Amount of all Mortgage Loans (other than any Mortgage Loans that generate Receivables that are Loan-Level Receivables or Second-Lien Receivables or any Mortgage Loans that are attributable to Small Threshold Servicing Agreements) serviced pursuant to the related Designated Servicing Agreement on such date over (ii) the aggregate monthly scheduled principal and interest payments for the calendar month immediately preceding the calendar month in which such date occurs with respect to all Mortgage Loans that are not Delinquent serviced pursuant to the related Designated Servicing Agreement. 
“Advance to UPB Ratio” means, as of any date of determination with respect to any Designated Servicing Agreement, the ratio (expressed as a percentage), of (i) the aggregate dollar amount of Advances as of such date that have not been reimbursed to the Servicer arising under the related Designated Servicing Agreement over (ii) the aggregate unpaid principal balance of all Mortgage Loans that are not Delinquent serviced pursuant to the related Designated Servicing Agreement as of such date.
“Applicable Rating” means the rating assigned to each Class of the Series 2015-T4 Notes by the Note Rating Agency, upon the issuance of such Class as set forth below:
(i)    Class A-T4:  AAA(sf);
(ii)    Class B-T4:  AA(sf); 
(iii)    Class C-T4:  A(sf);
(iv)    Class D-T4:  BBB(sf); and

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(v)    Class E-T4:  BB(sf).
“Backstopped Receivable” is a Receivable that is the right to reimbursement for any Advance or right to payment for any Deferred Servicing Fee that, pursuant to the terms of the related Servicing Agreement, is reimbursable pursuant to a General Collections Backstop, either immediately or if not recoverable out of collections or proceeds of the related Mortgage Loan.
 “Base Indenture” has the meaning assigned to such term in the Preamble.
“Class A-T4 Term Notes” or “Class A-T4 Notes” means, the Term Notes, Class A-T4, issued hereunder by the Issuer, having an Initial Note Balance of $302,125,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement.
“Class B-T4 Term Notes” or “Class B-T4 Notes” means, the Term Notes, Class B-T4, issued hereunder by the Issuer, having an Initial Note Balance of $15,695,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement.
“Class C-T4 Term Notes” or “Class C-T4 Notes” means, the Term Notes, Class C-T4, issued hereunder by the Issuer, having an Initial Note Balance of $18,965,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement.
“Class D-T4 Term Notes” or “Class D-T4 Notes” means, the Term Notes, Class D-T4, issued hereunder by the Issuer, having an Initial Note Balance of $55,586,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement.
“Class E-T4 Term Notes” or “Class E-T4 Notes” means, the Term Notes, Class E-T4, issued hereunder by the Issuer, having an Initial Note Balance of $7,629,000, or any Term Notes issued in replacement thereof pursuant to Section 7 of this Indenture Supplement.
“Corporate Trust Office” means the corporate trust offices of the Indenture Trustee at which at any particular time its corporate trust business with respect to the Issuer shall be administered, which offices at the Closing Date are located at  1761 East St. Andrew Place, Santa Ana, CA 92705, Ref.: NRZ Advance Receivables Trust 2015-ON1, Series 2015-T4, OC15S4, Attn: Hang Luu except for Note transfer, exchange or surrender purposes, Deutsche Bank National Trust Company c/o DB Services Americas, Inc., 5022 Gate Parkway, Jacksonville, FL 32256, Attention: Transfer Unit. 
 “Cumulative Interest Shortfall Amount Rate” means, with respect to each Class of Series 2015-T4 Notes, 3.00% per annum.
“Default Supplemental Fee” means, for each Class of Series 2015-T4 Notes and each Payment Date during the Full Amortization Period and on the date of final payment of such Class (if the Full Amortization Period is continuing on such final payment date), a fee equal to the product of the Default Supplemental Fee Rate multiplied by the Note Balance at the close of business on the prior Payment Date multiplied by a fraction, the numerator of which equals 30 (or, if the Full Amortization Period commenced subsequent to the prior Payment Date, the number of days elapsed 

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from and including the day of the commencement of the Full Amortization Period) and the denominator of which equals 360.
“Default Supplemental Fee Rate” means, with respect to each Class of Series 2015-T4 Notes, 3.00% per annum.
“Delinquent” means for any Mortgage Loan, any Monthly Payment due thereon is not made by the close of business on the day such Monthly Payment is required to be paid and remains unpaid for more than 30 days.
“ERD Supplemental Fee” means, for each Class of the Series 2015-T4 Notes and each Payment Date from and after the Expected Repayment Date, if the Notes of such Class have not been refinanced on or before the Expected Repayment Date only for such periods as the Notes of such Class are Outstanding and for so long as the Notes of such Class have a Note Balance greater than $0, a fee equal to the product of (i) the ERD Supplemental Fee Rate multiplied by (ii) a fraction, the numerator of which equals 30 (or, if the Expected Repayment Date has occurred subsequent to the prior Payment Date, the number of days elapsed from and including such Expected Repayment Date) and the denominator of which equals 360 multiplied by (iii) the Note Balance of such Class of Series 2015-T4 Notes as of the close of business on the preceding Payment Date.
“ERD Supplemental Fee Rate” means, with respect to each Class of Series 2015-T4 Notes, 1.00% per annum.
“Expected Repayment Date” means, for each Class of the Series 2015-T4 Notes, November 15, 2017.
“Expense Rate” means, as of any date of determination, with respect to the Series 2015-T4 Notes, the percentage equivalent of a fraction, (i) the numerator of which equals the sum of (1) the product of the Series Allocation Percentage for such Series multiplied by the aggregate amount of Fees due and payable by the Issuer on the next succeeding Payment Date plus (2) the product of the Series Allocation Percentage for such Series multiplied by any expenses payable or reimbursable by the Issuer on the next succeeding Payment Date, up to the applicable Expense Limit, if any, prior to any payments to the Noteholders of the Series 2015-T4 Notes, pursuant to the terms and provisions of this Indenture Supplement, the Base Indenture or any other Transaction Document that have been invoiced to the Indenture Trustee and the Administrator, plus (3) the aggregate amount of related Series Fees payable by the Issuer with respect to the Series 2015-T4 Notes on the next succeeding Payment Date and (ii) the denominator of which equals the sum of the outstanding Note Balances of all Series 2015-T4 Notes at the close of business on such date.
 “HLSS” has the meaning assigned to such term in the Preamble.
“Initial Note Balance” means, for any Class of Notes, the Note Balance of such Class upon issuance, as set forth below:
(i)    Class A-T4:  $302,125,000, 

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(ii)    Class B-T4:  $15,695,000,
(iii)    Class C-T4:  $18,965,000, 
(iv)    Class D-T4:  $55,586,000, and
(v)    Class E-T4:   $7,629,000.
“Initial Payment Date” means December 15, 2015.
“Interest Accrual Period” means, for the Series 2015-T4 Notes and any Payment Date, the period beginning on the immediately preceding Payment Date (or, in the case of the first Payment Date, the Issuance Date) and ending on the day immediately preceding the current Payment Date.  The Interest Payment Amount for the Series 2015-T4 Notes on any Payment Date shall be determined based on the Interest Day Count Convention.
“Interest Day Count Convention” means 30 days divided by 360 other than with respect to the Initial Payment Date, which is 21 days divided by 360.
“Interim Payment Date” means, with respect to each Series of Notes and each calendar month, (i) the 7th, 17th, 18th, 20th, 21st, 22nd, 23rd, 24th and 29th day of each such month, (or if any such date is not a Business Day, the next succeeding Business Day) and (ii) any other of five (5) Business Days in such month, in each case following one (1) Business Day’s written notice from the Issuer to the related Noteholders, the Administrative Agent and the Indenture Trustee, and (iii) any other Business Day in such month agreed to among the Issuer, the Administrator and the Administrative Agent, following one (1) Business Day’s written notice to the Indenture Trustee.  If an Interim Payment Date falls on the same date as a Payment Date, the Interim Payment Date shall be disregarded. For the avoidance of doubt, no Interim Payment Dates shall occur during the Full Amortization Period.
 “Issuance Date” means November 24, 2015.
“Limited Funding Date” means any Business Day designated as a Limited Funding Date by the Administrator in accordance with the Base Indenture. For the avoidance of doubt, no Limited Funding Dates shall occur during the Full Amortization Period.
 “Low Threshold Servicing Agreement” means a Designated Servicing Agreement that is not a Small Threshold Servicing Agreement and (i) for which the underlying Mortgage Loans have an unpaid principal balance greater than or equal to $1,000,000 but less than $10,000,000, as of the end of the most recently concluded calendar month, or (ii) that relates to at least 15 but fewer than 50 Mortgage Loans, as of the end of the most recently concluded calendar month.  
“Market Value” means, with respect to the Mortgaged Property securing a Mortgage Loan or any REO Property, the market value of such property (determined by the Servicer in its reasonable good faith discretion, which shall be by reference to the most recent value received by the related Subservicer (or by OLS as Servicer prior to the related MSR Transfer Date) with respect to such Mortgaged Property or REO Property in accordance with its servicing policies, if available) or the 

7

appraised value of the Mortgaged Property obtained in connection with the origination of the related Mortgage Loan, if no updated valuation has been required under the Servicer’s or Subservicer’s, as the case may be, servicing policies; provided, that the Market Value for any Mortgaged Property or REO Property shall be equal to $0 for any Mortgage Loan that is 90 or more days delinquent and the related valuation (as established by the lesser of either an appraisal, broker’s price opinion, the Servicer’s automated valuation model or any other internal valuation methodology (including but not limited to HPI indexing) utilized by the Servicer, which is consistent with the Servicer’s servicing policies with respect to such Mortgaged Property or REO Property) is more than six (6) months old.
Any valuation for purposes of this definition shall be established by the lesser of either an appraisal, broker’s price opinion, the Subservicer’s (or OLS as Servicer prior to the MSR Transfer Date) automated valuation model or any other internal valuation methodology (including but not limited to HPI indexing utilized by the Subservicer or OLS as Servicer prior to the MSR Transfer Date), which is consistent with the Servicer’s or Subservicer’s, as the case may be, servicing policies with respect to such Mortgaged Property or REO Property. 
“Market Value Ratio” means as of any date of determination with respect to a Designated Servicing Agreement, the ratio (expressed as a percentage) of (i) the Funded Advance Receivable Balance for such Designated Servicing Agreement on such date over (ii) the aggregate Net Property Value of the Mortgaged Properties and REO Properties for the Mortgage Loans serviced under such Designated Servicing Agreement on such date.

 “Middle Threshold Servicing Agreement” means a Designated Servicing Agreement that is not a Small Threshold Servicing Agreement or a Low Threshold Servicing Agreement and (i) for which the underlying Mortgage Loans have an unpaid principal balance greater than or equal to $10,000,000 but less than $25,000,000, as of the end of the most recently concluded calendar month, or (ii) that relates to at least 50 but fewer than 125 Mortgage Loans, as of the end of the most recently concluded calendar month. 
“Monthly Payment” means, with respect to any Mortgage Loan, the monthly scheduled principal and interest payments required to be paid by the mortgagor on any due date with respect to such Mortgage Loan.  
“Monthly Reimbursement Rate” means, as of any date of determination, the arithmetic average of the fractions (expressed as percentages), determined for each of the three (3) most recently concluded calendar months, obtained by dividing (i) the aggregate Advance Reimbursement Amounts collected by the Servicer and deposited into the Trust Accounts or any trust accounts established in connection with any indenture on behalf of any Prior Issuer during such calendar month by (ii) the Funded Advance Receivable Balance of all Designated Servicing Agreements as of the close of business on the last day of such calendar month. 
 “Mortgage Loan-Level Market Value Ratio” means, as of any date of determination with respect to a Mortgage Loan or REO Property that is secured by a first lien on the related Mortgaged Property or REO Property, the ratio (expressed as a percentage) of (x) (i) with respect to Section 4(vii)(a), the aggregate Receivable Balances of all Loan-Level Receivables and Specified Receivables 

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outstanding with respect to such Mortgage Loan or REO Property on such date, or (ii) with respect to Section 4(vii)(b), the aggregate Receivable Balances of all Receivables outstanding with respect to such Mortgage Loan or REO Property on such date over (y) the Net Property Value of such Mortgaged Property or REO Property on such date.
“Net Proceeds Coverage Percentage” means, for any Payment Date, the percentage equivalent of a fraction, (i) the numerator of which equals the amount of Collections on Receivables deposited into the Collection and Funding Account during the related Monthly Advance Collection Period, and (ii) the denominator of which equals the aggregate average outstanding Note Balances of all Outstanding Notes during such Monthly Advance Collection Period.
“Net Property Value” means, with respect to any Mortgaged Property, (A) with respect to a Current Mortgage Loan, the Market Value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property) or (B) with respect to a Delinquent Mortgage Loan, the product of (a) the Market Value of such Mortgaged Property as established by OLS’s independent property valuation methodology (as established by the lesser of any appraisal, broker’s price opinion or OLS’s automated valuation model with respect to such Mortgaged Property), multiplied by (b) OLS’s established market and property discount value rate, minus (c) OLS’s brokerage fee and closing costs with respect to such Mortgaged Property, plus (d) any projected mortgage insurance claim proceeds.
“Note Interest Rate” means, for any Class of Notes, the per annum rate set forth below:
(i)    Class A-T4, 3.1956%;
(ii)    Class B-T4, 3.6884%;
(iii)    Class C-T4, 4.1803%; 
(iv)    Class D-T4, 4.6712%; and
(v)    Class E-T4, 5.6000%.
“Note Rating Agency” means, for the Series 2015-T4 Notes, Standard & Poor’s Rating Services, a Standard & Poor’s Financial Services LLC business, a part of McGraw Hill Financial, Inc.
“NRZ” has the meaning assigned to such term in the Preamble.
“OTP Provision” means, in respect of any Designated Servicing Agreement, any provision permitting an optional early termination of the transactions contemplated thereunder or “clean-up call” thereunder.
“PSA Stressed Nonrecoverable Advance Amount” means, as of any date of determination, the sum of:

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(i)    for all Mortgage Loans that are current as of such date, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) (x) in the case of Mortgage Loans secured by a first lien, the product of 50% and the sum of all of the Net Property Values for the related Mortgaged Property or (y) in the case of Mortgage Loans secured by a second or more junior lien, zero; and
(ii)    for all Mortgage Loans that are delinquent as of such date, but not related to property in foreclosure or REO Property, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) (x) in the case of Mortgage Loans secured by a first lien, the product of 50% and the sum of all of the Net Property Values for the related Mortgaged Property or (y) in the case of Mortgage Loans secured by a second or more junior lien, zero; and
(iii)    for all Mortgage Loans that are related to properties in foreclosure, the greater of (A) zero and (B) the excess of (1) Total Advances related to such Mortgage Loans on such date over (2) (x) in the case of Mortgage Loans secured by a first lien, the product of 50% and the sum of all of the Net Property Values for the related Mortgaged Property or (y) in the case of Mortgage Loans secured by a second or more junior lien, zero; and
(iv)    for all REO Properties, the greater of (A) zero and (B) the excess of (1) Total Advances related to such REO Properties on such date over (2) (x) in the case of REO Properties previously secured by a first lien Mortgage Loan, the product of 50% and the sum of all of the Net PropertyValues for such REO Properties or (y) in the case of REO Properties previously secured by a second or more junior lien Mortgage Loan, zero.
 “Redeemable Notes” has the meaning assigned such term in Section 7 of this Indenture Supplement.
“Redemption Percentage” means, for the Series 2015-T4 Notes, 10%.
 “Series 2015-T4 Note Balance” means the aggregate Note Balance of the Series 2015-T4 Notes.
“Series 2015-T4 Note Purchase Agreement” means that certain Note Purchase Agreement, dated on or about November 23, 2015 by and among the Issuer, the Administrator, Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC.
“Series Fees” means, for the Series 2015-T4 Notes and any Payment Date or Interim Payment Date, none.
“Series Reserve Required Amount” means, with respect to any Funding Date, an amount equal to: (a) if there are not Non-FIFO Receivables in the Trust Estate: four (4) months’ interest calculated at the applicable Note Interest Rate on the Note Balance of each Class of Series 2015-T4 Notes (in each case, calculated using a 30/360 basis) as of such Funding Date and (b) if there are Non-FIFO Receivables in the Trust Estate: five (5) months’ interest calculated at the applicable 

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Note Interest Rate on the Note Balance of each Class of Series 2015-T4 Notes (in each case, calculated using a 30/360 basis) as of such Funding Date.
“Servicer Modification” means, for purposes of the Series 2015-T4 Notes, one or more restructurings of any or all of the Transaction Documents to provide for (i) Nationstar Mortgage LLC and/or (ii) NRZ or any subsidiary of NRZ to become the named servicer under any Designated Servicing Agreement (so long as, in the case of NRZ or any subsidiary of NRZ becoming a named servicer, either Nationstar Mortgage LLC, OLS or an OFC-Owned Servicer services the related Mortgage Loans as a subservicer). After giving effect to any Servicer Modification, there may be multiple named servicers under the Designated Servicing Agreements.
 “Small Threshold Servicing Agreement” means a Designated Servicing Agreement (i) for which the underlying Mortgage Loans have an unpaid principal balance of less than $1,000,000, as of the end of the most recently concluded month, or (ii) that relates to fewer than 15 Mortgage Loans, as of the end of the most recently concluded calendar month.
“Specified Call Premium Amount” means, as of any date of determination in respect of any Class of Redeemable Notes, the greater of (i) $0 and (ii):
(a) the quotient of :
(1) the product of:
(x) the Note Interest Rate for such Class
multiplied by 
(y) the outstanding Note Balance of such Class
divided by 
(2) 360
multiplied by 
(b) the positive excess, if any, of 270 over the number of days from and including the date such Class was issued through and including the date on which such Class is redeemed.
“Specified Receivable” means, at any time, any Receivables in respect of which:
(A) (i)     the provisions of the related Designated Servicing Agreement do not expressly require such Receivable to be paid or reimbursed in full in connection with the exercise of any OTP Provision;
(ii)    the Servicer is not the sole holder of the right to initiate the optional termination or clean-up call contemplated by the related OTP Provision and the Servicer has not received a written agreement in a form acceptable to the Administrative Agent from 

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each other holder (including any assignee of the Servicer) of the right to initiate the optional termination or clean-up call contemplated by the related OTP Provision that such holder or holders will not initiate such optional termination or clean-up call unless all Advances and Deferred Servicing Fees under the related Designated Servicing Agreement are reimbursed or paid, as applicable, in the connection with such optional termination or clean-up call;
(iii)    consent of the Servicer is not required for any party to initiate optional termination or clean-up call contemplated by the related OTP Provision; and
(iv)    the clean-up call or optional termination contemplated by such OTP Provision under the related Designated Servicing Agreement may be exercised at such time, or
(B) (i) is a Deferred Servicing Fee Receivable for which the provisions of the related Designated Servicing Agreement do not expressly require such Deferred Servicing Fee Receivable to be paid or reimbursed in full in connection with any involuntary transfer of servicing of the Servicer or (ii) is an Advance Receivable for which the related Designated Servicing Agreement does not contain FIFO for such Advance Receivable and the Designated Servicing Agreement does not expressly require such Advance Receivable to be paid or reimbursed in full in connection with any involuntary transfer of servicing of the Servicer.
Receivables meeting the criteria described in clause (A)(i) above but in respect of which either (a) the Servicer is the sole holder of the right to initiate the optional termination or clean-up call contemplated by the related OTP Provision, (b) consent of the Servicer is required for any other party to initiate the optional termination or clean-up call contemplated by the related OTP Provision or (c) each other holder of the right to initiate optional termination or clean-up call contemplated by the related OTP Provision has agreed in writing in a form acceptable to the Administrative Agent not to initiate such optional termination or clean-up call unless all Advances and Deferred Servicing Fees under the related Designated Servicing Agreement are reimbursed or paid, as applicable, shall not constitute “Specified Receivables” hereunder under clause (A) of the definition of “Specified Receivables.”
Receivables meeting the criteria described in clauses (A)(i), (ii) and (iii) above are set forth on Schedule 4 to the Base Indenture and Receivables meeting the criteria described in clause (B)(i) and (ii) above are set forth on Schedule 3 to the Base Indenture (as such Schedule 3 and Schedule 4 may be updated from time to time in accordance with the Base Indenture).
“Stated Maturity Date” means, for each Class of Series 2015-T4 Notes, November 15, 2047.
 “Stressed Time” means, as of any date of determination for any Class of Series 2015-T4 Notes, the percentage equivalent of a fraction, (i) the numerator of which is one (1), and (ii) the denominator of which equals the related Stressed Time Percentage for such Class multiplied by the Monthly Reimbursement Rate on such date.

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“Stressed Time Percentage” means, for each Class, as set forth below:
(i)    Class A-T4, 19.54%;
(ii)    Class B-T4, 22.15%;
(iii)    Class C-T4, 26.41%; 
(iv)    Class D-T4, 60.60%; and
(v)    Class E-T4, 73.70%.
 “Target Amortization Amount” means, for each Class of the Series 2015-T4 Notes, one-twelfth (1/12) of the Note Balance of such Class at the close of business on the last day of its Revolving Period.    
“Target Amortization Event” means, for the Series 2015-T4 Notes, the earlier of (A) the related Expected Repayment Date for such Class or (B) the occurrence of any of the following conditions or events, which is not waived by the Series Required Noteholders of the Series 2015-T4 Notes, except that solely with respect to clauses (v) and (vi) such Target Amortization Event shall occur only upon written notice to the Indenture Trustee from either the Administrative Agent or the Series Required Noteholders of the Series 2015-T4 Notes,  that such Target Amortization Event has occurred and the Target Amortization Period shall commence (and, for the avoidance of doubt, no such notice shall be required for clauses (i), (ii), (iii) or (iv)):
(i)    on any Payment Date commencing with the first Payment Date, the arithmetic average of the Net Proceeds Coverage Percentage determined for such Payment Date and the two preceding Payment Dates is less than five (5) times the percentage equivalent of a fraction (A) the numerator of which equals the sum of the accrued Interest Payment Amounts for each Class of Outstanding Notes on such date and (B) the denominator of which equals the aggregate average Note Balances of each Class of all Outstanding Notes during the related Monthly Advance Collection Period;
(ii)    the occurrence, over the course of any twelve-month period from August 1 through the following July 31(beginning with the period from August 1, 2015 through July 31, 2016) (each a “STE Measurement Period”),  of one or more Servicer Termination Events with respect to Designated Servicing Agreements with respect to which there are outstanding Receivables included in the Trust Estate, which Servicing Agreements represent 15% or more (by Mortgage Loan balance as of the beginning of the STE Measurement Period) of all the Designated Servicing Agreements with respect to which there are outstanding Receivables included in the Trust Estate as of the beginning of the STE Measurement Period (in any case, regardless of whether any such Designated Servicing Agreement was a “Designated Servicing Agreement” as of the beginning of such STE Measurement Period), but not including any Servicer Termination Events that are solely due to the breach of one or more Collateral Performance Tests or a Servicer Ratings Downgrade;

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(iii)    the Monthly Reimbursement Rate is less than 3.00% as of any date of determination;
(iv)    any failure by the Administrator or any Sub-Administrator acting on the Administrator’s behalf to deliver any Determination Date Report pursuant to Section 3.2 of the Base Indenture which continues unremedied for a period of thirty (30) days after a Responsible Officer of the Administrator or any Sub-Administrator acting on the Administrator’s behalf shall have obtained actual knowledge of such failure, or shall have received written or electronic notice from the Indenture Trustee or any Noteholder of such failure;
(v)    the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator shall breach or default in the due observance or performance of any of its covenants or agreements in this Indenture Supplement, the Base Indenture, or any other Transaction Document (subject to any cure period provided therein and such default having a material adverse effect on any Noteholders of any Series 2015-T4 Notes and which material adverse effect is continuing), other than an obligation of the Receivables Seller to make an Indemnity Payment following a breach of a representation or warranty with respect to such Receivable pursuant to Sections 4(b) or 5(b) of the Receivables Sale Agreement or any payment default described in Section 8.1 of the Base Indenture, and any such default shall continue for a period of thirty (30) days after the earlier to occur of (a) actual discovery by a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator, as applicable, or (b) the date on which written or electronic notice of such failure, requiring the same to be remedied, shall have been given from the Indenture Trustee or any Noteholder to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator; provided, that a breach of Sections 7(a) or 8(a) of the Receivables Sale Agreement, or Section 7(b) of the Receivables Pooling Agreement (prohibiting the Receivables Seller, the Servicer, the Subservicer or the Depositor, as applicable, from causing or permitting Insolvency Proceedings with respect to the Depositor or the Issuer, as applicable) shall constitute an automatic Target Amortization Event; or
(vi)    if any representation or warranty of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator made in this Indenture Supplement, the Base Indenture, or any other Transaction Document (other than under Sections 4(b) or 5(b) of the Receivables Sale Agreement) shall prove to have been breached in any material respect as of the time when the same shall have been made or deemed made which has a material adverse effect on the right of the Noteholders of the Series 2015-T4 Notes and which material adverse effect is continuing, and continues uncured and unremedied for a period of thirty (30) days after the earlier to occur of (a) actual discovery by a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator, as applicable, or (b) the date on which written notice of such failure, requiring the same to be remedied, shall have been given to a Responsible Officer of the Issuer, the Receivables Seller, the Servicer, the Subservicer, the Depositor or the Administrator, as applicable.

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 If any event listed above is also a Target Amortization Event with respect to any series of Variable Funding Notes that has the same Administrative Agent, and such Administrative Agent does not waive the corresponding Target Amortization Event under such Series of Variable Funding Notes, such Administrative Agent shall notify the Indenture Trustee that a Target Amortization Event is in effect for the Series 2015-T4 Notes.  If the Administrative Agent waives the corresponding Target Amortization Event under a Series of Variable Funding Notes, it will take no action with respect to the related Target Amortization Event for the Series 2015-T4 Notes and, with respect to clauses (v) and (vi) above only, such Target Amortization Event will occur only upon an affirmative vote of, and written notice to the Indenture Trustee from, the Series Required Noteholders for the Series 2015-T4 Notes.
“Total Advances”  means, respect to any date of determination, the sum of all outstanding amounts of all outstanding Advances related to Facility Eligible Receivables funded by the Servicer out of its own funds or funds (including Advances funded using Amounts Held For Future Distribution under the related Designated Servicing Agreement) with respect to such Mortgage Loans on such date.
 “Transaction Documents” means, in addition to the documents set forth in the definition thereof in the Base Indenture, this Indenture Supplement and the Series 2015-T4 Note Purchase Agreement, each as amended, supplemented, restated or otherwise modified from time to time.
“Trigger Advance Rate” means, for any Class of the Series 2015-T4 Notes, as of any date, the rate equal to the greater of (x) zero and (y) (1) 100% minus (2) the product of (a) one-twelfth (1/12) of the weighted average interest rates for all Classes of the Series 2015-T4 Notes as of such date, plus the related Expense Rate as of such date, multiplied by (b) the related Stressed Time for such Class as of such date. 
There are no “Other Advance Rate Reduction Events” or “Other Advance Rate Reduction Event Cure Periods” in respect of the Series 2015-T4 Notes.  
Section 3.    Forms of Series 2015-T4 Notes; Transfer Restrictions.
The form of the Rule 144A Global Note and of the Regulation S Global Note that may be used to evidence the Class A-T4 Term Notes, the Class B-T4 Term Notes, the Class C-T4 Term Notes, the Class D-T4 Term Notes and the Class E-T4 Term Notes are attached to the Base Indenture as Exhibits A-1 and A-2, respectively.  For the avoidance of doubt, and subject to the terms and provisions of Section 5.4 of the Base Indenture, the Class A-T4 Term Notes, the Class B-T4 Term Notes, the Class C-T4 Term Notes, the Class D-T4 Term Notes and the Class E-T4 Term Notes are to be issued as Book-Entry Notes.  The Class E-T4 Term Notes are Specified Notes.
Any Noteholder of the Series 2015-T4 Notes may only resell, pledge or transfer its beneficial interest in the Series 2015-T4 Notes to a person (i) that the transferor reasonably believes is, and who has certified (or, in the case of Book-Entry Notes, is deemed to have certified) that it is a Qualified Institutional Buyer that purchases for its own account or for the account of a Qualified Institutional Buyer and to whom notice is given that the resale, pledge or transfer is made in reliance on Rule 144A or (ii) that is not a U.S. person (as defined in Regulation S) outside the United States in an “offshore transaction” in reliance on the safe harbor provided by Regulation S.
The Series 2015-T4 Notes will be issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess thereof, except for the Specified Notes which will be issued in minimum denominations of $2,500,000 and integral multiples of $1,000 in excess thereof.  
Proposed transferees of Class A-T4 Term Notes, the Class B-T4 Term Notes, the Class C-T4 Term Notes, the Class D-T4 Term Notes and Class E-T4 Term Notes will be required to make (or in the case of Book Entry Notes, will be deemed to make) certain certifications for purposes of ERISA as provided in Section 6.5(k) of the Base Indenture.
Section 4.    Collateral Value Exclusions.
For purposes of calculating “Collateral Value” in respect of the Series 2015-T4 Notes, the Collateral Value shall be zero for any Receivable that:
(i)    is attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the related Advance Ratio to be equal to or greater than 100.0%; provided, that this clause (i) shall not apply to any Receivable that is (a) attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, (b) a Loan-Level Receivable, or (c) a Second-Lien Receivable;
(ii)    is a Second-Lien Receivable, unless the following criteria are satisfied:
(1)     the related Servicing Agreement must have a General Collections Backstop;
(2)    the related Servicing Agreement may not be a Small Threshold Servicing Agreement;
(3)    the Advance to UPB Ratio in respect of the related Servicing Agreement must be less than 25%; and
(4)    the Receivable Balance of such Second-Lien Receivable when added to the aggregate Receivable Balances of all Second-Lien Receivables that are Facility Eligible Receivables and that satisfy the criteria in clauses (1), (2) and (3) above would not cause the aggregate Receivable Balances of such Receivables to exceed 0.25% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(iii)    is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements to exceed 2.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(iv)    is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement or a Low Threshold Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and Low Threshold Servicing Agreements, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and Low Threshold Servicing Agreements to exceed 7.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(v)    is a Facility Eligible Receivable that is attributable to a Small Threshold Servicing Agreement, a Low Threshold Servicing Agreement, or a Middle Threshold Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, Low Threshold Servicing Agreements and Middle Threshold Servicing Agreements would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements, Low Threshold Servicing Agreements and Middle Threshold Servicing Agreements to exceed 15.0% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(vi)    is attributable to a Designated Servicing Agreement, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances outstanding with respect to that same Designated Servicing Agreement, would cause the total Receivable Balances attributable to such Designated Servicing Agreement to exceed 15.0% of the aggregate of the Receivable Balances of the Aggregate Receivables;
(vii)    (a) if it is a Loan-Level Receivable or a Specified Receivable under clause (A) of the definition thereof, its Receivable Balance, when added to the aggregate Receivable Balances of all Receivables with respect to the related Mortgage Loan or REO Property, would cause the related Mortgage Loan-Level Market Value Ratio to exceed 50.0%; or (b) if it is a Receivable related to a Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, its Receivable Balance, when added to the aggregate Receivable Balances of all Receivables related to the Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, would cause the related Mortgage Loan-Level Market Value Ratio to exceed 50.0%; 
(viii)    has a zero Advance Rate;
(ix)    is a Loan-Level Receivable, to the extent that the related Receivable Balance of such Loan-Level Receivable, when added to the aggregate Receivable Balances of Loan-Level Receivables already outstanding with respect to all Mortgage Loans or REO Properties, causes the aggregate Receivable Balances of Loan-Level Receivables outstanding with respect to all Mortgage Loans or REO Properties to exceed 25.0% of the aggregate Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; 
(x)    is a Facility Eligible Receivable that is (a) attributable to a Small Threshold Servicing Agreement, (b) a Loan-Level Receivable or (c) a Second-Lien Receivable, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and all Loan-Level Receivables and Second-Lien Receivables that are Facility Eligible Receivables, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding with respect to Small Threshold Servicing Agreements and all Loan-Level Receivables that are Facility Eligible Receivables to exceed 27.5% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(xi)    is attributable to a Designated Servicing Agreement that does not provide that all Advances as to a Mortgage Loan are reimbursed on a “first-in, first out” or “FIFO” basis (“Non-FIFO”), upon the transfer of servicing thereunder, such that the Advances of a particular type that were disbursed first in time will be reimbursed prior to Advances of the same type with respect to that Mortgage Loan that were disbursed later in time; and if it is a Whole Loan Servicing Agreement, does not provide that all Advances with respect to any Mortgage Loan must be reimbursed in full at the time the servicing of such Mortgage Loan is transferred out of such Whole Loan Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding, would cause the total Receivable Balances attributable to Non-FIFO Receivables outstanding that are Facility Eligible Receivables to exceed 10.0% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(xii)    is a Facility Eligible Receivable that is a Specified Receivable, to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances of all Facility Eligible Receivables outstanding that are Specified Receivables, would cause the total Receivable Balances attributable to all Facility Eligible Receivables outstanding that are Specified Receivables to exceed 10.0% of the total Receivable Balances of all Facility Eligible Receivables included in the Trust Estate;
(xiii)    is a Facility Eligible Receivable that is a Specified Receivable for which (I) (a) the Servicer has received a notice that the holder of the right to initiate the optional termination or clean-up call contemplated by the related OTP Provision is exercising such right, (b) more than ten (10) Business Days have occurred since the Servicer’s receipt of such notice or a Funding Date has occurred since the Servicer’s receipt of such notice and (c) such notice does not expressly provide that all Advances and Deferred Servicing Fees under the related Designated Servicing Agreement will be reimbursed or paid in full upon the exercise of such optional termination or clean-up call or (II) the related optional termination or clean-up call has been exercised and such Specified Receivable has not been paid or reimbursed; 
(xiv)    relates to an Advance that has not been reimbursed in full or a Deferred Servicing Fee that has not been paid in full within ninety (90) days following the date of a permanent modification of the related Mortgage Loan that becomes effective subsequent to the creation of such Receivable (for purposes of this clause, a modification becomes “permanent” following any trial period or satisfaction of conditions precedent or subsequent); or
(xv)    is attributable to any Designated Servicing Agreement to the extent that the Receivable Balance of such Receivable, when added to the aggregate Receivable Balances already outstanding with respect to such Designated Servicing Agreement, would cause the related Market Value Ratio to exceed 50.0%.
For purposes of each of the foregoing, (i) if any Facility Eligible Receivable has a Collateral Value equal to zero pursuant to any Collateral Value exclusion test, the portion of the Receivable Balance thereof with a Collateral Value of zero shall be disregarded for all other purposes of this Section 4, in each case as determined by the Administrator in a manner that maximizes the Collateral Value and (ii) if any Facility Eligible Receivable has an Advance Rate of zero, such Facility Eligible Receivable shall be disregarded for all other purposes of this Section 4.
Section 5.    Series 2015-T4 Reserve Account.
In accordance with the terms and provisions of this Section 5 and Section 4.6 of the Base Indenture, the Indenture Trustee shall establish and maintain a Series Reserve Account, which shall be an Eligible Account, with respect to the Series 2015-T4 Notes for the benefit of the Series 2015-T4 Noteholders (such account, the “Series 2015-T4 Reserve Account”). 
For the avoidance of doubt, if the portion of Available Funds (including the amounts on deposit in the Interest Accumulation Account or the Note Payment Account) allocable to the Series 2015-T4 Notes or the Series Available Funds in respect of the Series 2015-T4 Notes, as applicable, on any Payment Date is not sufficient to pay the full Interest Amount and any Cumulative Interest Shortfall Amount attributable to the Interest Amount for the Series 2015-T4 Notes, amounts then on deposit in the Series 2015-T4 Reserve Account shall be withdrawn and applied to pay the shortfall.  
Section 6.    Payments; Note Balance Increases; Early Maturity.
(a)    Except as otherwise expressly set forth herein, the Paying Agent shall make payments on the Series 2015-T4 Notes on each Payment Date in accordance with Section 4.5 of the Base Indenture.
(b)    Any payments of Interest Amounts, Cumulative Interest Shortfall Amounts and Fees, Default Supplemental Fees, Cumulative Default Supplemental Fee Shortfall Amounts, ERD Supplemental Fees or Cumulative ERD Supplemental Fee Shortfall Amounts allocated to the Series 2015-T4 Notes shall be paid first to the Class A-T4 Term Notes, thereafter to the Class B-T4 Term Notes, thereafter to the Class C-T4 Term Notes, thereafter to the Class D-T4 Term Notes and thereafter to the Class E-T4 Term Notes. The Paying Agent shall make payments of principal on the Series 2015-T4 Notes on each Payment Date in accordance with Section 4.5 of the Base Indenture during any Target Amortization Period.
(c)    Any payments of principal allocated to the Series 2015-T4 Notes during a Full Amortization Period shall be applied in the following order of priority, first, to the Class A-T4 Term Notes, pro rata, until their Note Balance has been reduced to zero, second, to the Class B-T4 Term Notes, pro rata, until their Note Balance has been reduced to zero, third, to the Class C-T4 Term Notes, pro rata, until their Note Balance has been reduced to zero, fourth, to the Class D-T4 Term Notes, pro rata, until their Note Balance has been reduced to zero and fifth, the Class E-T4 Term Notes, pro rata, until their Note Balance has been reduced to zero.  
(d)    For the avoidance of doubt, the failure to pay any Target Amortization Amount when due, as described in the definition thereof, shall constitute an Event of Default.
(e)    The Series 2015-T4 Notes are subject to optional redemption in accordance with the terms of Section 13.1 of the Base Indenture and redemption in accordance with Section 7 hereof.
Section 7.    Optional Redemptions and Refinancing. 
The Series 2015-T4 Notes are subject to optional redemption by the Issuer (such Notes, the “Redeemable Notes”), in whole or in part (so long as, in the case of any partial redemption, each Class of Redeemable Notes is redeemed on a pro-rata basis based on their related Note Balances and each redemption is allocated ratably among the Noteholders of each Class of Redeemable Notes), on any Payment Date by payment of the Redemption Amount except as set forth in this Section 7.  If the Issuer redeems the Redeemable Notes prior to the Payment Date occurring in August 2016 pursuant to this provision (as opposed to pursuant to an optional redemption otherwise permitted under Section 13.1 of the Base Indenture), the Issuer shall pay to the Noteholders of each Class of Redeemable Notes in addition to its portion of the related Redemption Amount an amount equal to the Specified Call Premium Amount. If the Issuer redeems any of the Class D-T4 Term Notes at any time during the Revolving Period that is on or after the Payment Date occurring in August 2016 and prior to the Payment Date in October 2017, the Issuer shall pay to the Noteholders of the Class D-T4 Term Notes that are being redeemed, in addition to its related Redemption Amount, an amount equal to 1.0% of the Note Balances of the Class D-T4 Term Notes so redeemed,  as calculated by the Administrator.  In addition, the Issuer may exercise optional redemption of the Redeemable Notes, in whole or in part (so long as, in the case of any partial redemption, each Class of Redeemable Notes is redeemed on a pro-rata basis based on their related Note Balances and each redemption is allocated ratably among the Noteholders of each Class of Redeemable Notes), on any Payment Date on which the aggregate Note Balance of the Series 2015-T4 Notes is less than the Redemption Percentage of the aggregate Initial Note Balance thereof. No Specified Call Premium Amount is payable in connection with any optional redemption of the Redeemable Notes on any Payment Date on which the aggregate Note Balance of the Series 2015-T4 Notes is less than the Redemption Percentage of the aggregate Initial Note Balance thereof or in connection with any optional redemption otherwise permitted pursuant to Section 13.1 of the Base Indenture.  The Redeemable Notes are subject to optional redemption by the Issuer pursuant to Section 13.1 of the Base Indenture, in whole or in part (so long as, in the case of any partial redemption, each Redeemable Notes is redeemed on a pro-rata basis based on their related Note Balances and each redemption is allocated ratably among the Noteholders of each Class of Redeemable Notes) with respect to such group of Classes, using the proceeds of the issuance and sale of one or more new Classes of Series 2015-T4 Notes issued pursuant to a supplement to this Indenture Supplement, on any Business Day after the date on which the related Revolving Period ends or on any Business Day within two (2) Business Days prior to the end of such Revolving Period upon two (2) Business Days’ prior notice to the Noteholders.  In anticipation of a redemption of the Redeemable Notes at the end of their Revolving Period, the Issuer may issue a new Series or one or more Classes of Notes within the 90 day period prior to the end of such Revolving Period and reserve the cash proceeds of the issuance for the sole purpose of paying the principal balance and all accrued and unpaid interest on the Redeemable Notes to be redeemed, on the last day of their Revolving Period. Any supplement to this Indenture Supplement executed to effect an optional redemption may be entered into without consent of the Noteholders of any of the Notes pursuant to Section 12(a)(iv) of the Base Indenture.  Any Notes issued in replacement for the Redeemable Notes will have the same rights and privileges as the Class of Redeemable Note that was refinanced with the related proceeds thereof; provided, such replacement Notes may have different Expected Repayment Dates and Stated Maturity Dates.
Section 8.    [RESERVED]
Section 9.    Series Reports.
(a)    Series Calculation Agent Report.  The Calculation Agent shall deliver a report of the following items together with each Calculation Agent Report pursuant to Section 3.1 of the Base Indenture to the extent received from the Servicer, with respect to the Series 2015-T4 Notes:
(i)    the unpaid principal balance of the Mortgage Loans subject to any Small Threshold Servicing Agreement, Low Threshold Servicing Agreement and Middle Threshold Servicing Agreement;
(ii)    the Advance Ratio for each Designated Servicing Agreement, and whether the Advance Ratio for such Designated Servicing Agreement exceeds 100.0%;
(iii)    for each Small Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate;
(iv)    for each Middle Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate;
(v)    for each Low Threshold Servicing Agreement, as of the end of the most recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances of all Receivables attributable to such Designated Servicing Agreement as a percentage of the aggregate of the Funded Advance Receivable Balances of all Receivables included in the Trust Estate;
(vi)    a list of each Target Amortization Event for the Series 2015-T4 Notes and presenting a yes or no answer beside each indicating whether each such Target Amortization Event has occurred as of the end of the Monthly Advance Collection Period preceding the upcoming Payment Date or the Advance Collection Period preceding the upcoming Interim Payment Date;
(vii)    the Mortgage Loan-Level Market Value Ratio for each Mortgage Loan related to a Loan-Level Receivable, a Specified Receivable or a Receivable related to a Mortgage Loan or REO Property that is attributable to a Designated Servicing Agreement that is a Small Threshold Servicing Agreement, and if any such Mortgage Loan-Level Market Value Ratio exceeds 50%;
(viii)    for each Second-Lien Receivable and each Loan-Level Receivable, as of the end of the most recently concluded calendar month, the aggregate of the Funded Advance Receivable Balances that are Second-Lien Receivables and the aggregate of the Funded Advance Receivables Balances that are Loan-Level Receivables, respectively as a percentage of the aggregate of the Funded Advance Receivable Balances with all Receivables included in the Trust Estate;
(ix)    whether any Receivable, or any portion of the Receivables, attributable to a Designated Servicing Agreement, has a Collateral Value of zero by virtue of the definition of “Collateral Value” or Section 4 of this Indenture Supplement;
(x)    a calculation of the Net Proceeds Coverage Percentage in respect of each of the three preceding Monthly Advance Collection Periods (or each that has occurred since the date of this Indenture Supplement, if less than three), and the arithmetic average of the three;
(xi)    the Monthly Reimbursement Rate as of the most recent date of determination;
(xii)    whether any Target Amortization Amount that has become due and payable has been paid;
(xiii)    the PSA Stressed Nonrecoverable Advance Amount for the upcoming Payment Date or Interim Payment Date; 
(xiv)    the Trigger Advance Rate for each Class (or, if less than three calendar months have occurred since the Closing Date, the Trigger Advance Rate based upon the Monthly Reimbursement Rate as calculated based on one or two months’ data, as applicable); 
(xv)    a calculation of the percentage of the aggregate Receivable Balances of Loan-Level Receivables outstanding with respect to all Mortgage Loans or REO Properties of the aggregate Receivable Balances of all Facility Eligible Receivables included in the Trust Estate; and
(xvi)    the Market Value Ratio for each Designated Servicing Agreement, and whether the Market Value Ratio for such Designated Servicing Agreement exceeds 50.0%.
(b)    Series Payment Date Report.  In conjunction with each Payment Date Report, the Indenture Trustee shall also report the Stressed Time Percentage.
(c)    Limitation on Indenture Trustee Duties.  The Indenture Trustee shall have no independent duty to verify the occurrence of any of the events described in clauses (ii), (iii) or (iv) of the definition of “Target Amortization Event”.
(d)    Summary Report.  On a monthly basis, the Administrator shall deliver an abbreviated form of the Payment Date Report and Interim Payment Date Report in a mutually agreed upon format to the email address provided by the Administrative Agent.  Such abbreviated report shall also include whether a notice to initiate the optional termination or clean-up call contemplated by the related OTP Provision has been received with respect to any Designated Servicing Agreement identified on Schedule 4 to the Base Indenture. 
Section 10.    Conditions Precedent Satisfied.
The Issuer hereby represents and warrants to the Noteholders of the Series 2015-T4 Notes and the Indenture Trustee that, as of the related Issuance Date, each of the conditions precedent set forth in the Base Indenture, to the issuance of the Series 2015-T4 Notes have been satisfied or waived in accordance with the terms hereof.
Section 11.    Representations and Warranties.
Each of the Issuer, the Administrator, the Servicer and the Indenture Trustee hereby restates as of the related Issuance Date, or as of such other date as is specifically referenced in the body of such representation and warranty, all of the representations and warranties made by it set forth in Sections 9.1, 10.1 and 11.14, respectively, of the Base Indenture.
Section 12.    Amendments.
(a)    Except as contemplated by Section 12.2 of the Base Indenture, this Indenture Supplement may be amended by the Series Required Noteholders.
(b)    In addition, but subject to the provisions set forth in Sections 12.1 and 12.3 of the Base Indenture, without the consent of the Noteholders of any of the Series 2015-T4 Notes but with the consent of the Issuer (evidenced by its execution of such amendment), the Indenture Trustee, the Administrator, the Servicer (solely in the case of any amendment that adversely affects the rights or obligations of the Servicer or adds new obligations or increases existing obligations of the Servicer), and the Administrative Agent, and with prior notice to the Note Rating Agency, at any time and from time to time, upon delivery of an Issuer Tax Opinion (unless the delivery of such Issuer Tax Opinion is waived by the Administrator, the Servicer and the Administrative Agent on behalf of the Noteholders) and upon delivery by the Issuer to the Indenture Trustee of an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment will not have a material Adverse Effect (unless the delivery of such Officer’s Certificate is waived by the Administrator, the Servicer and the Administrative Agent), may amend any Transaction Document for any of the following purposes:  (i) to correct any mistake or typographical error or cure any ambiguity, or to cure, correct or supplement any defective or inconsistent provision herein or any other Transaction Document; (ii) to correct, modify or supplement any provision herein that may be defective or may be inconsistent with any provision in the final Private Placement Memorandum dated as of November 23, 2015, as it may be amended or supplemented from time to time; (iii) to take any action determined by the Administrator to be reasonably necessary to maintain the rating currently assigned by the Note Rating Agency and/or to avoid such Class of Notes being placed or maintained on negative watch by such Note Rating Agency; or (iv) to amend any other provision of this Indenture Supplement. For the avoidance of doubt, the consent of the Servicer is not required for (i) the waiver of any Event of Default or Target Amortization Event or (ii) any other modification or amendment to any Event of Default or Target Amortization Event except those related to the actions and omissions of the Servicer. This Indenture Supplement may be otherwise amended or otherwise modified from time to time in a written agreement among (i) the requisite Series 2015-T4 Noteholders as contemplated above or by Section 12.2 of the Base Indenture, (ii) the Issuer, (iii) the Administrator, (iv) subject to the immediately preceding sentence, the Servicer, (v) the Administrative Agent and (vi) the Indenture Trustee.
(c)    Notwithstanding any provisions to the contrary in Section 6.10 or Article XII of the Base Indenture, no supplement, amendment or indenture supplement entered into with respect to the issuance of a new Series of Notes or pursuant to the terms and provisions of Section 12.2 of the Base Indenture may, without the consent of the Series Required Noteholders, supplement, amend or revise any term or provision of this Indenture Supplement.
(d)    For the avoidance of doubt, the Issuer and the Administrator hereby covenant that the Issuer shall not issue any future Series of Notes without designating an entity to act as “Administrative Agent” under the related Indenture Supplement with respect to such Series of Notes.
Section 13.    Counterparts.
This Indenture Supplement may be executed in any number of counterparts, by manual or facsimile signature, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument.
Section 14.    Entire Agreement.
This Indenture Supplement, together with the Base Indenture incorporated herein by reference, constitutes the entire agreement among the parties hereto with respect to the subject matter hereof, and fully supersedes any prior or contemporaneous agreements relating to such subject matter.
Section 15.    Limited Recourse.
Notwithstanding any other terms of this Indenture Supplement, the Series 2015-T4 Notes, any other Transaction Documents or otherwise, the obligations of the Issuer under the Series 2015-T4 Notes, this Indenture Supplement and each other Transaction Document to which it is a party are limited recourse obligations of the Issuer, payable solely from the Trust Estate, and following realization of the Trust Estate and application of the proceeds thereof in accordance with the terms of this Indenture Supplement, none of the Noteholders of Series 2015-T4 Notes, the Indenture Trustee or any of the other parties to the Transaction Documents shall be entitled to take any further steps to recover any sums due but still unpaid hereunder or thereunder, all claims in respect of which shall be extinguished and shall not thereafter revive.  No recourse shall be had for the payment of any amount owing in respect of the Series 2015-T4 Notes or this Indenture Supplement or for any action or inaction of the Issuer against any officer, director, employee, shareholder, stockholder or incorporator of the Issuer or any of their successors or assigns for any amounts payable under the Series 2015-T4 Notes or this Indenture Supplement.  It is understood that the foregoing provisions of this Section 15 shall not (a) prevent recourse to the Trust Estate for the sums due or to become due under any security, instrument or agreement which is part of the Trust Estate or (b) save as specifically provided therein, constitute a waiver, release or discharge of any indebtedness or obligation evidenced by the Series 2015-T4 Notes or secured by this Indenture Supplement.  It is further understood that the foregoing provisions of this Section 15 shall not limit the right of any Person to name the Issuer as a party defendant in any proceeding or in the exercise of any other remedy under the Series 2015-T4 Notes or this Indenture Supplement, so long as no judgment in the nature of a deficiency judgment or seeking personal liability shall be asked for or (if obtained) enforced against any such Person or entity.
Section 16.    Owner Trustee Limitation of Liability.
It is expressly understood and agreed by the parties hereto that (a) this Indenture Supplement is executed and delivered by Wilmington Trust, National Association, not individually or personally, but solely as Owner Trustee of the Issuer under the Trust Agreement, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by Wilmington Trust, National Association, but is made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust, National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust, National Association, be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Indenture Supplement or the other Transaction Documents.

15

Section 17.    Joint and Several Liability. 
Each of NRZ and the Administrator hereby acknowledges and agrees that it is jointly and
severally liable to the Administrative Agent and the Noteholders for all representations,
warranties, covenants, indemnities and other obligations of the Administrator set forth in the
Transaction Documents.

IN WITNESS WHEREOF, the undersigned have caused this Indenture Supplement to be duly executed by their respective signatories thereunto all as of the day and year first above written.

	
		
	 
	NRZ ADVANCE RECEIVABLES TRUST 2015-ON1, as Issuer
By:   Wilmington Trust, National Association,  
not in its individual capacity but solely as  
Owner Trustee

By:  /s/ Beverly D. Capers 
Name:  Beverly D. Capers 
Title:    Assistant Vice President

	
		
	 
	DEUTSCHE BANK NATIONAL TRUST COMPANY, as Indenture Trustee, Calculation Agent, Paying Agent and Securities Intermediary and not in its individual capacity

By:  /s/ Amy McNulty 
Name: Amy McNulty 
Title:   Associate
		
	By:  /s/ Karen Benvenuto
	 
Name:  Karen Benvenuto 
Title:  Assistant Vice President

	
		
	 
	OCWEN LOAN SERVICING, LLC

	 
	By: /s/  Mark Freeman
Name:  Mark L. Freeman
Title:  Authorized Representative 

	
		
	 
	HLSS HOLDINGS, LLC

	 
	By: /s/ Cameron MacDougall 
Name: Cameron MacDougall 
Title:   Secretary

	
	
	

NEW RESIDENTIAL INVESTMENT CORP.

	By: /s/ Cameron MacDougall    
Name: Cameron MacDougall 
Title:   Secretary

	
		
	 
	CREDIT SUISSE AG, NEW YORK BRANCH, as Administrative Agent

		
	By:  /s/ Patrick J. Hart
	 
Name:  Patrick J. Hart 
Title:    Vice President

		
	By:  /s/ Jason Muncy
	 
Name:  Jason Muncy 
Title:   Vice President

16EX-4.7

 Exhibit 4.7 

DOMINION RESOURCES, INC. 
 Issuer

 AND 
 DEUTSCHE BANK TRUST
COMPANY AMERICAS 
 Trustee 
  

 
 Third
Supplemental Indenture 
 Dated as of February 1, 2016 

 
  

$500,000,000 
 2016 Series A
2.125% Senior Notes 
 due 2018 

 TABLE OF CONTENTS* 
  

									
	 ARTICLE I 2016 SERIES A 2.125% SENIOR NOTES DUE 2018
	  	 	1	  
				
		  	 SECTION 101.
	  	Establishment	  	 	1	  
		  	 SECTION 102.
	  	Definitions	  	 	2	  
		  	 SECTION 103.
	  	Payment of Principal and Interest	  	 	5	  
		  	 SECTION 104.
	  	Denominations	  	 	5	  
		  	 SECTION 105.
	  	Global Securities	  	 	6	  
		  	 SECTION 106.
	  	Redemption	  	 	6	  
		  	 SECTION 107.
	  	Sinking Fund	  	 	7	  
		  	 SECTION 108.
	  	Additional Interest on Overdue Amounts	  	 	7	  
		  	 SECTION 109.
	  	Paying Agent	  	 	7	  
		
	 ARTICLE II TRANSFER AND EXCHANGE
	  	 	7	  
				
		  	 SECTION 201.
	  	Transfer and Exchange of Global Securities	  	 	7	  
		  	 SECTION 202.
	  	Restricted Legend	  	 	8	  
		  	 SECTION 203.
	  	Removal of Restricted Legend	  	 	9	  
		  	 SECTION 204.
	  	Registration of Transfer or Exchange	  	 	9	  
		  	 SECTION 205.
	  	Preservation of Information	  	 	10	  
		  	 SECTION 206.
	  	Acknowledgment of Restrictions; Indemnification; No Obligation of Trustee	  	 	10	  
		
	 ARTICLE III MISCELLANEOUS PROVISIONS
	  	 	11	  
				
		  	 SECTION 301.
	  	Ratification and Incorporation of Base Indenture	  	 	11	  
		  	 SECTION 302.
	  	Executed in Counterparts	  	 	11	  
		  	 SECTION 303.
	  	Assignment	  	 	11	  
		  	 SECTION 304.
	  	Trustee’s Disclaimer	  	 	11	  

  

	*	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions. 

 THIS THIRD SUPPLEMENTAL INDENTURE is made as of the 1st day of February, 2016, by and between
DOMINION RESOURCES, INC., a Virginia corporation, having its principal office at 120 Tredegar Street, Richmond, Virginia 23219 (the “Company”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as Trustee, having a
corporate trust office at 60 Wall Street, 16th Floor, New York, New York 10005 (herein called the “Trustee”). 

W I T N E S S E T H: 
 WHEREAS,
the Company has heretofore entered into an Indenture dated as of June 1, 2015, between the Company and the Trustee (as amended, restated or otherwise modified, the “Base Indenture”) with respect to senior debt securities; 

WHEREAS, the Base Indenture is incorporated herein by this reference and the Base Indenture, as heretofore supplemented, as further
supplemented by this Third Supplemental Indenture, and as may be hereafter supplemented or amended from time to time, is herein called the “Indenture”; 

WHEREAS, under the Base Indenture, a new series of Securities may at any time be established in accordance with the provisions of the Base
Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee; 
 WHEREAS, the
Company proposes to create under the Indenture a new series of Securities; 
 WHEREAS, additional Securities of other series hereafter
established, except as may be limited in the Base Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Third Supplemental Indenture and to make it a valid and
binding obligation of the Company have been done or performed. 
 NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 
 2016 SERIES A
2.125% SENIOR NOTES DUE 2018 
 SECTION 101. Establishment. There is hereby established a new series of Securities to be issued
under the Indenture, to be designated as the Company’s 2016 Series A 2.125% Senior Notes due 2018 (the “Series A Senior Notes”). 

There are to be authenticated and delivered $500,000,000 principal amount of Series A Senior Notes, and such principal amount of the Series A
Senior Notes may be increased from 

 
time to time pursuant to the penultimate paragraph of Section 301 of the Base Indenture. All Series A Senior Notes need not be issued at the same time and such series may be reopened at any
time, without the consent of any Holder, for issuances of additional Series A Senior Notes. Any such additional Series A Senior Notes will have the same interest rate, maturity and other terms as those initially issued. Further Series A Senior Notes
may also be authenticated and delivered as provided by Sections 304, 305, 306, 905 or 1107 of the Base Indenture. 
 The Series A Senior
Notes shall be issued as Registered Securities in global form without coupons, in substantially the form set out in Exhibit A hereto. The entire initially issued principal amount of the Series A Senior Notes shall initially be evidenced by
one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company. 
 The form of the Trustee’s
Certificate of Authentication for the Series A Senior Notes shall be in substantially the form set forth in Exhibit B hereto. 
 Each
Series A Senior Note shall be dated the date of authentication thereof and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 

SECTION 102. Definitions. The following defined terms used herein shall, unless the context otherwise requires, have the meanings
specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Base Indenture. Unless the context otherwise requires, any reference to a “Section” refers to a Section of
this Third Supplemental Indenture. 
 “Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a day on
which banks in New York, New York are authorized or obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office is closed for business. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term of the Series A Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term in years and months of the Series A Senior Notes. 
 “Comparable Treasury Price” for any
Redemption Date means (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains
fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Distribution Compliance Period”
has the meaning set forth in Section 204. 
 “Independent Investment Banker” means RBC Capital Markets, LLC and its
successors or affiliates, as selected by the Company, or if such firm is unwilling or unable to serve as such, an independent investment and banking institution of national standing appointed by the Company. 

  
 2 

 “Interest Payment Dates” means February 15 and August 15 of each year,
commencing on August 15, 2016. 
 “Original Issue Date” means February 19, 2016. 

“Outstanding,” when used with respect to the Series A Senior Notes, means, as of the date of determination, all Series A Senior
Notes theretofore authenticated and delivered under the Indenture, except: 
 (i) Series A Senior Notes theretofore canceled by the Trustee
or delivered to the Trustee for cancellation; 
 (ii) Series A Senior Notes for whose payment at the Maturity thereof money in the necessary
amount has been theretofore deposited (other than pursuant to Section 402 of the Base Indenture) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall
act as its own Paying Agent) for the Holders of such Series A Senior Notes, provided that, if such Series A Senior Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory
to the Trustee has been made; 
 (iii) Series A Senior Notes with respect to which the Company has effected defeasance or covenant defeasance
pursuant to Section 402 of the Base Indenture, except to the extent provided in Section 402 of the Base Indenture; and 
 (iv)
Series A Senior Notes that have been paid pursuant to Section 306 of the Base Indenture or in exchange for or in lieu of which other Series A Senior Notes have been authenticated and delivered pursuant to the Indenture, other than any such
Series A Senior Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Series A Senior Notes are held by a bona fide purchaser in whose hands such Series A Senior Notes are valid obligations of
the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding Series A Senior Notes have given any request, demand, authorization, direction, notice, consent or waiver under the Indenture or
are present at a meeting of Holders of Series A Senior Notes for quorum purposes, Series A Senior Notes owned by the Company or any other obligor upon the Series A Senior Notes or any Affiliate of the Company or such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization, direction, notice, consent or waiver, only
Series A Senior Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Series A Senior Notes so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with respect to such Series A Senior Notes and (B) that the pledgee is not the Company or any other obligor upon the Series A Senior Notes or an
Affiliate of the Company or such other obligor. 
 “Primary Treasury Dealer” means a primary United States government securities
dealer in the United States as designated by the Federal Reserve Bank of New York. 

  
 3 

 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Reference Treasury Dealer” means (i) RBC Capital Markets, LLC and its successors; provided that, if such firm or its
successors ceases to be a Primary Treasury Dealer, the Company shall substitute another Primary Treasury Dealer; and (ii) up to four other Primary Treasury Dealers selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue related to the Series A Senior Notes being redeemed (expressed in each case as a percentage of its principal amount) quoted in writing
to the Independent Investment Banker at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the Business Day preceding such
Interest Payment Date; provided that, with respect to Series A Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day)
preceding such Interest Payment Date. 
 “Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Security” has the meaning set forth in Section 105. 

“Restricted Legend” has the meaning set forth in Section 202. 

“Restricted Security” has the meaning set forth in Section 202. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 144A Global Security” has the meaning set forth in Section 105. 

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

“Stated Maturity” means February 15, 2018. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity
or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

The terms “Company,” “Trustee,” “Base Indenture,” and “Indenture” shall have the respective meanings
set forth in the recitals to this Third Supplemental Indenture and the paragraph preceding such recitals. 

  
 4 

 SECTION 103. Payment of Principal and Interest. The principal of the Series A Senior Notes
shall be due at the Stated Maturity (unless earlier redeemed). The unpaid principal amount of the Series A Senior Notes shall bear interest at the rate of 2.125% per annum until paid or duly provided for, such interest to accrue from the
Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series A Senior
Notes are registered on the Regular Record Date for such Interest Payment Date; provided that interest payable at the Stated Maturity of principal or on a Redemption Date as provided herein will be paid to the Person to whom principal is payable.
Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series A Senior Notes are
registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee (in accordance with Section 307 of the Base Indenture), notice whereof shall be given to Holders of the Series A
Senior Notes not less than ten (10) days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the Series A Senior Notes may be
listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Base Indenture. 
 Payments of
interest on the Series A Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series A Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day
months. In the event that any date on which interest is payable on the Series A Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any
interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 

Payment of the principal and interest on the Series A Senior Notes shall be made at the office of the Paying Agent in such coin or currency of
the United States of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of any Series A Senior Notes, upon redemption or repurchase being made upon
surrender of such Series A Senior Notes to the Paying Agent. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to
the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the
Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. In the event that any date on which principal and interest is payable on the Series A Senior Notes is not a Business Day, then payment of the
principal and interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the
payment was originally payable. 
 SECTION 104. Denominations. The Series A Senior Notes may be issued in denominations of $2,000, or
any greater integral multiple of $1,000. 

  
 5 

 SECTION 105. Global Securities. The Series A Senior Notes offered and sold to QIBs in
reliance on Rule 144A will be initially issued in the form of one or more Global Securities (the “Rule 144A Global Security”), and the Series A Senior Notes offered and sold in offshore transactions to non-U.S. persons in reliance on
Regulation S will be initially issued in the form of one or more Global Securities (the “Regulation S Global Security”), in each case registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee.
Except under the limited circumstances described below, Series A Senior Notes represented by such Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series A Senior Notes in definitive form registered in names
other than the Depositary or its nominee. The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary
or to a successor Depositary or its nominee. 
 Owners of beneficial interests in such a Global Security will not be considered the Holders
thereof for any purpose under the Indenture, and no Global Security representing a Series A Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be registered in the name of the Depositary or its
nominee or to a successor Depositary or its nominee or except as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary. 

A Global Security shall be exchangeable for Series A Senior Notes registered in the names of persons other than the Depositary or its nominee
only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company within 90 days of receipt by the Company of
such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary and no successor Depositary shall have been
appointed by the Company within 90 days after it becomes aware of such cessation, (ii) the Company in its sole discretion, and subject to the procedures of the Depositary, determines that such Global Security shall be so exchangeable, in which
case Series A Senior Notes in definitive form will be printed and delivered to the Depositary, or (iii) an Event of Default has occurred and is continuing with respect to the Series A Senior Notes. Any Global Security that is exchangeable
pursuant to the preceding sentence shall be exchangeable for Series A Senior Notes registered in such names as the Depositary shall direct. 

SECTION 106. Redemption. The Series A Senior Notes are redeemable, in whole or in part, at any time and from time to time, at the
option of the Company, at a Redemption Price equal to the greater of: 
 (i) 100% of the principal amount of Series A Senior Notes then
Outstanding to be so redeemed, or 
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon
(not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 25 basis
points, as calculated by an Independent Investment Banker, 
 plus, in either of the above cases, accrued and unpaid interest thereon to the Redemption
Date. 

  
 6 

 The Treasury Rate shall be calculated no later than the third Business Day preceding the
Redemption Date. 
 Unless the Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will
cease to accrue on the Series A Senior Notes or portions thereof called for redemption. 
 In the event of the redemption of the Series A
Senior Notes in part only, a new Series A Senior Note or Notes for the unredeemed portion will be issued in the name or names of the Holders thereof upon surrender thereof. 

The Company shall notify the Trustee in writing of the Redemption Price promptly after the calculation thereof and the Trustee shall have no
responsibility for such calculation. The notice of redemption shall be sent in accordance with the terms of the Base Indenture. 
 SECTION
107. Sinking Fund; Conversion. The Series A Senior Notes shall not have a sinking fund. The Series A Senior Notes are not convertible into or exchangeable for Equity Securities and/or any other securities. 

SECTION 108. Additional Interest on Overdue Amounts. Any principal of and installment of interest on the Series A Senior Notes that is
overdue shall bear interest at the rate of 2.125% (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be
payable on demand. 
 SECTION 109. Paying Agent. The Trustee shall initially serve as Paying Agent with respect to the Series A
Senior Notes, with the Place of Payment initially being the Corporate Trust Office. 
 ARTICLE II 

TRANSFER AND EXCHANGE 

SECTION 201. Transfer and Exchange of Global Securities. The transfer and exchange of beneficial interests in the Global Securities
shall be effected through the Depositary, in accordance with this Third Supplemental Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. 

  
 7 

 SECTION 202. Restricted Legend. Except as otherwise provided in Section 203 and as
indicated on Exhibit A, each Series A Senior Note (each a “Restricted Security”) shall bear the following legend (the “Restricted Legend”) on the face thereof: 

THIS SERIES A SENIOR NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES
SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND THIS SERIES A SENIOR NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SERIES A SENIOR
NOTE IS HEREBY NOTIFIED THAT THE SELLER OF THIS SERIES A SENIOR NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 

THE HOLDER OF THIS SERIES A SENIOR NOTE AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SERIES A SENIOR NOTE MAY BE OFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF
RULE 144A, (II) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), (IV)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR (V) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) THAT IS
ACQUIRING THE NOTE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL “ACCREDITED INVESTOR” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE
SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS
SERIES A SENIOR NOTE FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN CLAUSE (A) ABOVE. 
 THE HOLDER AGREES THAT IT WILL DELIVER TO
EACH PERSON TO WHOM THIS SERIES A SENIOR NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

THE HOLDER AGREES THAT, BEFORE THE HOLDER OFFERS, SELLS OR OTHERWISE TRANSFERS THIS SERIES A SENIOR NOTE, THE COMPANY MAY REQUIRE THE HOLDER
OF THIS SERIES A SENIOR NOTE TO DELIVER A WRITTEN OPINION, CERTIFICATIONS AND/OR OTHER INFORMATION THAT IT REASONABLY REQUIRES TO CONFIRM THAT SUCH PROPOSED TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
UNITED STATES. 

  
 8 

 AS USED IN THIS SERIES A SENIOR NOTE, THE TERMS “OFFSHORE TRANSACTION,” “U.S.
PERSON” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. 
 SECTION
203. Removal of Restricted Legend. The Company may instruct the Trustee in writing to cancel any Series A Senior Note and, upon receipt of a Company Order, authenticate a replacement Series A Senior Note, registered in the name of the Holder
thereof (or its transferee), that does not bear the Restricted Legend, and the Trustee will comply with such instruction, if the Company determines (upon the advice of counsel and such other certifications and evidence as the Company may reasonably
require) that a Series A Senior Note is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision) and that the Restricted Legend is no longer necessary or appropriate in order to ensure that subsequent transfers of
such Series A Senior Note (or a beneficial interest therein) are effected in compliance with the Securities Act; provided, however, that in such circumstances, the Trustee shall require an Opinion of Counsel and an Officers’ Certificate prior
to authenticating any such replacement Series A Senior Note. 
 SECTION 204. Registration of Transfer or Exchange. The registration
of transfer or exchange of any Series A Senior Note (or a beneficial interest therein) that bears the Restricted Legend may only be made in compliance with the provisions of the Restricted Legend and as set forth below. 

(i) Prior to and including the 40th day after the later of the commencement of the offering of the Series A Senior Notes and the Original Issue
Date (such period through and including such 40th day, the “Distribution Compliance Period”), transfers by an owner of a beneficial interest in a Regulation S Global Security to a transferee who takes delivery of such interest through a
Rule 144A Global Security of that series will be made only upon receipt by the Trustee of a written certification from the transferor of the beneficial interest to the effect that such transfer is being made to a Person whom the transferor
reasonably believes is purchasing for its own account or accounts as to which it exercises sole investment discretion and is a QIB in a transaction meeting the requirements of Rule 144A and the requirements of applicable securities laws of any state
of the United States or any other jurisdiction. 
 (ii) Transfers by an owner of a beneficial interest in the Rule 144A Global Security to a
transferee who takes delivery through the Regulation S Global Security of that series, whether before or after the expiration of the Distribution Compliance Period, will be made only upon receipt by the Trustee of a certification from the transferor
to the effect that such transfer is being made in accordance with Rule 904 of Regulation S or Rule 144 under the Securities Act and that, if such transfer is being made prior to the expiration of the Distribution Compliance Period, the interest
transferred will be held immediately thereafter through Euroclear Bank S.A./NV, as operator of the Euroclear System or Clearstream Banking, societe anonyme, Luxembourg. 

  
 9 

 (iii) Any beneficial interest in one of the Global Securities that is transferred to a Person who
takes delivery in the form of an interest in another Global Security of that series will, upon transfer, cease to be an interest in the initial Global Security of that series and will become an interest in the other Global Security of that series
and, accordingly, will thereafter be subject to all transfer restrictions, if any, and other procedures applicable to beneficial interests in such other Global Security of that series for as long as it remains such an interest. 

SECTION 205. Preservation of Information. The Trustee will retain copies of all certificates, opinions and other documents received in
connection with the registration of transfer or exchange of a Series A Senior Note (or a beneficial interest therein) in accordance with its customary policy, and the Company will have the right to request copies thereof at any reasonable time upon
written notice to the Trustee. 
 SECTION 206. Acknowledgment of Restrictions; Indemnification; No Obligation of Trustee. By its
acceptance of any Series A Senior Note bearing the Restricted Legend, each Holder of such a Series A Senior Note acknowledges the restrictions on registrations of transfer or exchange of such Series A Senior Note set forth in this Third Supplemental
Indenture and in the Restricted Legend and agrees that it will register the transfer or exchange of such Series A Senior Note only as provided in this Third Supplemental Indenture. The Security Registrar shall not register a transfer or
exchange of any Series A Senior Note unless such transfer or exchange complies with the restrictions on transfer or exchange of such Series A Senior Note set forth in this Third Supplemental Indenture. In connection with any registration of
transfer or exchange of Series A Senior Notes, each Holder agrees by its acceptance of the Series A Senior Notes to furnish the Security Registrar or the Company such certifications, legal opinions or other information as either of them may
reasonably require to confirm that such registration of transfer or exchange is being made pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act; provided that the Security Registrar
shall not be required to determine (but may rely on a determination made by the Company with respect to) the sufficiency of any such certifications, legal opinions or other information. 

The Security Registrar shall retain copies of all letters, notices and other written communications received pursuant to the Indenture in
accordance with its customary policy. The Company shall have the right to request copies of all such letters, notices or other written communications at any reasonable time upon the giving of written notice to the Security Registrar. 

Each Holder of a Series A Senior Note agrees to indemnify the Company, the Security Registrar and the Trustee against any liability that may
result from the transfer, exchange or assignment of such Holder’s Series A Senior Note in violation of any provision of this Third Supplemental Indenture and/or applicable United States Federal or state securities law. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer or exchange
imposed under this Third Supplemental Indenture or under applicable law with respect to any registrations of transfer or exchange of any interest in any Series A Senior Note (including any transfers between or among members of, or participants in,
the Depositary or beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms
of, this Third Supplemental Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

  
 10 

 ARTICLE III 

MISCELLANEOUS PROVISIONS 

SECTION 301. Ratification and Incorporation of Base Indenture. As supplemented hereby, the Base Indenture is in all respects ratified
and confirmed by the Company. The Base Indenture and this Third Supplemental Indenture shall be read, taken and construed as one and the same instrument. 

SECTION 302. Executed in Counterparts. This Third Supplemental Indenture may be executed in several counterparts, each of which shall
be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Third Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Third Supplemental Indenture as to the parties hereto and may be used in lieu of the original, manually executed Third Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by
facsimile or PDF shall be deemed to be their original signatures for all purposes. 
 SECTION 303. Assignment. The Company shall have
the right at all times to assign any of its rights or obligations under the Indenture with respect to the Series A Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in
the event of any such assignment, the Company shall remain primarily liable for the performance of all such obligations. The Indenture may also be assigned by the Company in connection with a transaction described in Article VIII of the Base
Indenture. 
 SECTION 304. Trustee’s Disclaimer. All of the provisions contained in the Base Indenture in respect of the rights,
powers, privileges, protections, duties and immunities of the Trustee, including without limitation its right to be indemnified, shall be applicable in respect of the Series A Senior Notes and of this Third Supplemental Indenture as fully and with
like effect as if set forth herein in full. The Trustee accepts the amendments of the Indenture effected by this Third Supplemental Indenture, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining
and limiting the liabilities and responsibilities of the Trustee. Without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained
herein, all of which recitals or statements are made solely by the Company, or for or with respect to (i) the validity or sufficiency of this Third Supplemental Indenture or any of the terms or provision hereof, (ii) the proper
authorization hereof by the Company by action or otherwise, (iii) the due execution hereof by the Company, or (iv) the consequences of any amendment herein provided for, and the Trustee makes no representation with respect to any such
matters. 
 [Signature Page Follows] 

  
 11 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and
behalf by its duly authorized officer, all as of the day and year first above written. 
  

			
	DOMINION RESOURCES, INC.
		
	By:	 	/s/ James R. Chapman
	Name:	 	 James R. Chapman

	Title:	 	 Senior Vice President – Mergers & Acquisitions and Treasurer

	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	/s/ Carol Ng
	Name:	 	    Carol Ng
	Title:	 	    Vice President
		
	By:	 	/s/ Anthony D’Amato
	Name:	 	    Anthony D’Amato
	Title:	 	    Associate

  
 12 

 EXHIBIT A 

FORM OF 
 2016 SERIES A
2.125% SENIOR NOTE 
 DUE 2018 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO
THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, [CEDE & CO.], HAS AN INTEREST HEREIN.]** 

[THIS SERIES A SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SERIES A SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES A SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN
SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SERIES A SENIOR NOTE AUTHENTICATED AND DELIVERED UPON REGISTRATION OF, TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS SERIES A SENIOR
NOTE SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]** 
 [THIS SERIES A SENIOR NOTE (OR ITS
PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”), AND THIS SERIES A SENIOR NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS SERIES A SENIOR NOTE IS HEREBY NOTIFIED THAT THE SELLER OF THIS SERIES A SENIOR NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE
SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER.]*** 
 [THE HOLDER OF THIS SERIES A SENIOR NOTE AGREES FOR THE BENEFIT OF THE COMPANY THAT
(A) THIS SERIES A SENIOR NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A 

 
  

 

	**	Insert in Global Securities. 

	***	Insert in Restricted Securities. 

 
QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION
IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), (IV) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT, OR (V) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) THAT IS ACQUIRING THE NOTE FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL “ACCREDITED INVESTOR” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (V) IN ACCORDANCE WITH
ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SERIES A SENIOR NOTE FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN CLAUSE
(A) ABOVE.]*** 
 [THE HOLDER AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS SERIES A SENIOR NOTE OR AN INTEREST HEREIN IS
TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.]*** 
 [THE HOLDER AGREES THAT, BEFORE THE HOLDER OFFERS, SELLS OR
OTHERWISE TRANSFERS THIS SERIES A SENIOR NOTE, THE COMPANY MAY REQUIRE THE HOLDER OF THIS SERIES A SENIOR NOTE TO DELIVER A WRITTEN OPINION, CERTIFICATIONS AND/OR OTHER INFORMATION THAT IT REASONABLY REQUIRES TO CONFIRM THAT SUCH PROPOSED TRANSFER
IS BEING MADE PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES.]*** 
 [AS USED IN THIS SERIES A SENIOR
NOTE, THE TERMS “OFFSHORE TRANSACTION,” “U.S. PERSON” AND “UNITED STATES” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]*** 

DOMINION RESOURCES, INC. 

[Up to]**
$                         

2016 SERIES A 2.125% SENIOR NOTE 

DUE 2018 
  

	 No. R- 
	CUSIP No.                      

Dominion Resources, Inc., a corporation duly organized and existing under the laws of Virginia (herein called the “Company”, which
term includes any successor Person under the 

  
 2 

 
Indenture hereinafter referred to), for value received, hereby promises to pay to [Cede & Co.]**, or registered assigns (the “Holder”), the principal sum [of
                     Dollars
($                    )] [specified in Schedule I hereto]** on February 15, 2018 and to pay interest thereon from February 19, 2016
or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2016, at the rate of 2.125% per
annum, until the principal hereof is paid or made available for payment, provided that any principal, and any such installment of interest, that is overdue shall bear interest at the rate of 2.125% per annum (to the extent that the payment of
such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Series A Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest;
provided that the interest payable at Stated Maturity or on a Redemption Date will be paid to the Person to whom principal is payable. The Regular Record Date shall be the close of business on the Business Day preceding such Interest Payment Date;
provided, that with respect to Series A Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest
Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Series A Senior Note (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Series A Senior Notes not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Series A Senior Notes may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture. 
 Payments of interest on the Series A Senior Notes will include interest accrued
to but excluding the respective Interest Payment Dates. Interest payments for the Series A Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on the
Series A Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the
same force and effect as if made on the date the payment was originally payable. 
 Payment of the principal of and interest on this Series
A Senior Note will be made at the office of the Paying Agent, in the Borough of Manhattan, City and State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts, with any such payment that is due at the Stated Maturity of any Series A Senior Note, upon redemption or repurchase being made upon surrender of such Series A Senior Note to such office or agency; provided, however, that at the option
of the Company payment of interest, subject to such surrender where applicable, may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at
such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. 

  
 3 

 Reference is hereby made to the further provisions of this Series A Senior Note set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Series A Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

							
	 Dated:
	 		 	DOMINION RESOURCES, INC.
				
		 		 	By:	 	 
				
		 		 	Name:	 	 
				
		 		 	Title:	 	 

  
 4 

 [REVERSE OF 2016 SERIES A 2.125% SENIOR NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture dated as of June 1, 2015 (the “Base Indenture”), between the Company and Deutsche Bank Trust Company Americas, as Trustee (the “Trustee”), as supplemented by a Third
Supplemental Indenture dated as of February 1, 2016 (the “Third Supplemental Indenture” and, together with the Base Indenture, as it may be hereafter supplemented or amended from time to time, the “Indenture,” which term
shall have the meaning assigned to it in such instrument), by and between the Company and the Trustee, and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof (the “Series A Senior
Notes”) which is unlimited in aggregate principal amount. 
 The Series A Senior Notes are redeemable, in whole or in part, at any time
and from time to time in the manner and with the effect provided in the Indenture. 
 If an Event of Default with respect to Series A Senior
Notes shall occur and be continuing, the principal of the Series A Senior Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee for the series of Securities affected, with the consent of the Holders of a majority in
principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time
Outstanding, on behalf of the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Series A Senior Note shall be conclusive and binding
upon such Holder and upon all future Holders of this Series A Senior Note and of any Series A Senior Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Series A Senior Note. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Series A Senior
Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of
a continuing Event of Default with respect to the Series A Senior Notes, the Holders of not less than a majority in principal amount of the Series A Senior Notes at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Series A Senior
Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such 

  
 5 

 
proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Series A Senior Note for the
enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or provided for herein. 

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

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Series A Senior Note is registrable in
the Security Register, upon surrender of this Series A Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this Series A Senior Note are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Series A
Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Series A Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and any greater integral multiple of
$1,000. As provided in the Indenture and subject to certain limitations therein set forth, Series A Senior Notes are exchangeable for a like aggregate principal amount of Series A Senior Notes having the same Stated Maturity and of like tenor of any
authorized denominations as requested by the Holder upon surrender of the Series A Senior Note or Series A Senior Notes to be exchanged at the office or agency of the Company. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Series A Senior Note for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Series A Senior Note be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Series A
Senior Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 6 

 ABBREVIATIONS 

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

							
	TEN COM - 	    	as tenants in common	 		 	
				
	TEN ENT - 	    	as tenants by the entireties	 		 	
			
	JT TEN - 	    	 as joint tenants with rights of survivorship and not as

tenants in common
	 	
				
	 UNIF GIFT MIN ACT - 
	    	  
	 	Custodian for	 	
		    	(Cust)	 		 	
				
		    	  
	 		 	
		    	(Minor)	 		 	
				
		    	Under Uniform Gifts to Minors Act of	 		 	
				
		    	      
	 		 	
		    	(State)	 		 	
		
	Additional abbreviations may also be used though not on the above list.	 	
	 	 		 	

  
  
  

  
 7 

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

 

			
	  
	 	.

 (please insert Social Security or other identifying number of assignee) 

 

			
	  
	 	.
		
	  
	 	.
		
	  
	 	.

 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

the within Series A Senior Note and all rights thereunder, hereby irrevocably constituting and appointing 

 

			
	  
	 	.
		
	  
	 	.
		
	  
	 	.

  

			
	  
	 	.
		
	  
	 	.
		
	  
	 	.

 agent to transfer said Series A Senior Note on the books of the Company, with full power of substitution in the premises. 

Dated:                         
    ,          
  

			
		 	  

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in
every particular without alteration or enlargement, or any change whatever. 

  
 8 

 DOMINION RESOURCES, INC. 

2016 SERIES A SENIOR NOTE 

DUE 2018 
 No.
R-     
 SCHEDULE I** 

The initial principal amount of this Series A Senior Note is:
$                         

The following increases or decreases in this Global Security have been made: 
  

									
	 Date of increase or

decrease and reason
 for the change
in
 principal amount
	 	 Amount of decrease

in principal amount
 of this
Global
 Security
	 	 Amount of increase

in principal amount
 of this
Global
 Security
	 	 Principal amount of

this Global Security
 following
such
 decrease or increase
	 	 Signature of

authorized signatory
 of
Trustee

  
 9 

 EXHIBIT B 

CERTIFICATE OF AUTHENTICATION 

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

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	 
		 	Authorized Signatory

 
			
		
	Dated:	 	

  
 10

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